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Yep you read that right. The first 3 months of
the market were pretty much none existent. The following 3 months
showed us there was light at the end of the tunnel, and it turned out
not to be a train. The first 2 months of the 3rd quarter have proven we
are on our way back to a more fair and active market. The
interest rates are still at an all time low. However, in order to keep
inflation at bay they will have to rise. Prices have adjusted and
buyers have gotten off the fence. The buyers who had enough sense to
get pre-approved, at a lower rate, are now out there looking for the
all time good buy. There's still time to take advantage of the low
rates. This may not be your last chance. Not
all areas in the market are experiencing the activity others are. The
Bowser/Deep Bay area is still relatively slow compared to number of
sales in town. I believe the market will eventually ripple out to the
outlying communities. Especially with the lower end of the market in
town beginning to disappear. We are still hearing good news
from the Lower Mainland & Victoria markets. Which is great.
They've been experiencing better activity overall for a bit longer than
we have. For the truth about today's market click here. The
average price in the area has not moved for the past 3 months. I
expect we'll see prices continue to flat line for another couple of
months. The last time the market did this was during the first 8 months
of 2001. With the current activity prices will eventually start to go
up. Not rocketing up. Just steady eddy. There are still some
exceptional buy's out there. But not for long. So if you or anyone
else you know is wanting to expand their portfolio now may be a good
time. We're as busy as ever. The team as a whole is doing great
and we want you to know we're here to serve you in any way we can. If
you have a question you would like answered personally, give us a
shout. The best part, it doesn't matter which one of the team you
happen to get on the phone, we're partners in this business and
together we are all here to help. Lastly, our Client
Appreciation Day was an absolute blast. The weather couldn't have been better and everyone that came out for a great day on the beach had an excellent time. Same time, same place next year. Hope to see you all there.
It's a Good Life! Enthusiastically, Dawn Setter
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Island Park Estates, Errington
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The manufactured home at 108-1391 Price Rd has been sold.
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Suite Deal!
• 1,500 sq. ft., 3 bath, 3 bdrm single story
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$324,900 CAD
- Lots of home for the $$$
Deep Bay, Artisan Square
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Cottage get-a-way, retirement or just plain getting back to simple life living. The opportunities are endless. Totally renovated home offering 2 bedrooms plus a den, open living & kitchen area with the added benefit of a studio suite. Perfect for the child that never wants to leave home, an elderly parent or a caretaker for when you're not there. Nice big windows brings in tons of light. Good storage and parking for a small car in the garage. Lot is fairly private and has enough room to build a workshop. Within walking distance to Deep Bay Marina and a very short drive to down town Bowser where you'll find everything you need.
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Magical Waterfront Home! on Sandy Beach!
• 2,830 sq. ft., 3 bath, 4 bdrm 2 story
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$999,999 CAD
Qualicum Beach, Central Island
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Tranquil oceanside living. One of the nicest spots on the sandy beach of Qualicum Bay. Home has been lovingly renovated and although there are a few things left to do all of the hard work has been done. Beautiful wood windows from wall to wall and floor to ceiling take complete advantage of the views. Mountains, islands and cruise ships along with all of the marine life to keep you amused. 2 bedrooms on the main offering a unique open design. A fully self-contained 2 bedroom suite below makes it perfect as a part time home, a B & B or for extended family. A truly wonderful spot to entertain. Wrap around decks, privacy and a nice open plan all add to the ambience. Come and let the magic of this home take your heart away. All measurements are approximate, and information printed is deemed to be correct. It is the responsibility of the buyer to verify if important.
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Fairwinds Luxury home!
• 3,373 sq. ft., 3 bath, 3 bdrm "Level entry with walkout basement"
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MLS®
$689,900 CAD
Fairwinds, Nanoose Bay
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This Fairwinds custom built 3300 sq.ft , level entry with walkout basement home is a must see. 1.5 years young and situated on just over a half an acre. Come on in & prepare to be impressed! Large bright great room with vaulted ceilings greets you upon entering and compliments the 9 foot ceilings throughout not only the main but the lower level too. An excellent floor plan for entertaining large groups and yet for those more formal intimate moments a separate dining room. The living area is still cozy with efficient electric fireplace surrounded by custom oak mantel, all of which opens to a user friendly specially designed oak cabinetry kitchen with large deck overlooking the backyard and beautiful mature trees making it really easy for summer BBQ‘S. Hardwood floors throughout the living, dining room and kitchen area add to the ambience. The tour of the main floor doesn't end here as we continue to the large master suite with full ensuite including soaker tub built for 2, separate shower, his & her sinks all placed nicely with the continuing custom oak cabinetry which flows throughout the home. Rounding out the main floor is a den with separate outside entrance making it ideal for a home based business, an additional 3 piece bath and full laundry room with sink leading to oversized double car garage. Inset tiled staircase takes you to the fully developed walkout level. Perfect for extended family, teenagers, grand children, company or just plain entertaining. This added bonus of a family room is bright & light with large windows over looking landscaped backyard, built-in entertainment centre with fireplace, separate wet bar, two more really good sized bedrooms, tons of storage, full 4 piece bath, French doors leading to an existing studio/flex room, an exercise room or perhaps for the wine savvy - a small wine cellar. And that’s not all. This home has a full sound system wired throughout with ceiling speakers in most of the main living areas. Truly a must see.
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• 3,172 sq. ft., 4 bath, 4 bdrm 2 story split "Waterfront Home"
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$1,199,000 CAD
- 2 For the Price of One
Parksville, Central Island
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It's not often a home in this prestigious part of San Pariel comes up for sale. Definitely one of the best locations, of all the beaches in the Oceanside area, to spend time walking and playing on. This property offers 2 separate living quarters. Perfect for taking care of senior parents, children that never seem to want to leave home or a caretaker if you're not a full time resident. Would make for a great B & B or a daycare as well. This is a one owner home and it shows. The entire property has been well cared for. New hardwood & laminate flooring, bright and spacious sun room, and new septic field to name a few. Both dwellings are light and bright and WOW what an ocean view they offer. Separate spaces and wide open places, both having their own decks with privacy created between the two with natural trees and shrubs. One side of the home over looks the beach while the other over looks the bird sanctuary. Bask in the sun all day and enjoy the beautiful sunsets and cruise ships at night. Tons of storage space in over sized double, plus a workshop, car garage. Wood storage and garden tool shed down one side of the property making it easy to put everything in its place and out of the way. All this and more located a short drive to Parksville, tons of walking trails through Rathtrevor Park and only 20 minutes to the north end of Nanaimo. Paradise awaits you so come take a look. Measurements are approximate, please verify if important.
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• 1,342 sq. ft., 2 bath, 2 bdrm single story - MLS® $308,500 CAD Dunsmuir, Qualicum Beach - CUTE, COZY & PRIVATE!!! Just 5 years young and perfect for the first timer or retiree. Open plan taking full advantage of the space making for large living areas as well as the bedrooms. This home has all of the country charm you would expect from a story book tale. Private decks for entertaining over looking rock gardens. Attached workshop with power and storage shed. Located on 1/2 acre secluded lot in Qualicum Bay. Very quiet area yet just minutes to the beach, easy access to either Hwy and tons of walking trails including the Big Qualicum Fish Hatchery. You will be pleasantly surprised and all just a short 12 min drive to Qualicum Beach. Property information
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BEAUTIFUL LAKE & MOUNTAIN VIEWS
• other - $369,000 CAD - BUILD YOUR DREAM HOME Qualicum Beach, Central Island - One of the last acreages offering that very rare Spider Lake view! Come and build your dream home or get away place. 4.95 acres with views of Mt. Arrowsmith & Spider Lake. Only 15 minutes to Qualicum Beach. Drilled well, the best water in the area I might add, with 10 g.p.m. Septic has been approved too. Spider Lake is a beautiful and serene natural lake stocked with fish and surrounded by beautiful homes. No power boats allowed, so swimming, kayaking and canoeing are all really safe. Add fishing for fun. All of this and more, only steps away from your door. This special property is only a stone's throw away from the new Inland Island Highway. Property information
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With all the doom and gloom we've been getting from the media I thought you might like to hear a bit of good news. The following information is from the Colegrave Mortgage Team, local brokers from our area. Sunshine will return: Canadians have been confused and justifiably skeptical of the efforts the worlds' central banks and governments have been making to combat the global economic crisis. There is however a broad belief, that Canada's financial house is in significantly better shape than many peer countries, particularly the U.S. While the federal and most provincial governments have been slow to implement economic stimulus packages, they enjoy wide public support in principle. Together with the actions taken by the Bank of Canada and the positive impact on consumer confidence stemming from infrastructure spending announcements, stimulus programs are expected to be significant in the latter half of 2009.
First time buyers and investors will lead the way. Increased affordability (and perceived value) will be a key mover for the first time buyer. For example in August 2008 a home purchased at $360,000 with a 3 year term of 5.8% the monthly payment was $1949. The income required was $82,000. Today the same home is now valued at approximately $340,000. A 3 year term at 3.75% equals a $1420. Saving $529 a month and requiring an annual income of only $65,000.
Private sales will become more difficult to finance.
An email dated Dec 29, 2008 from a nationwide lender read: "Effective immediately, we will no longer be accepting Private Sale Agreements on ANY submissions. It is unfortunate that we need to make this decision, but the reality is that Private Sales are too often linked to property or Loan To Value misrepresentation and we are seeing more of these now as the credit market tightens up. Our statistics gathered are now also showing a very high percentage of delinquency in deals that were funded with private sales."
This is in addition to other lenders that had previously limited certain products (particularly stated income) to be excluded in a private sale.
Foreclosures will increase...but barely make a dent.
Foreclosure rates in Canada are expected to increase, but remain very limited, especially when compared to the U.S. experience, where a broad structural failure of the credit system occurred. Canada's relatively insignificant subprime market, and in turn, the low number of Canadians contractually committed to very risky mortgages, will result in a foreclosure rate of insufficient volume to impact house prices or transaction activity.
Return of the B lender.
All but extinct as of July 2008. Many B lending specialists have moved to A, rather than close up shop, indicating a "waiting on the sidelines" attitude, looking for an opportunity to jump back into the more profitable returns of the B market. As the credit market loosens and investors return to mortgage paper, (they will because they always do!), products will start to trickle back into the market in late 2009.
Rates will move...down...then up.
Our world is changing every day. It is hard to keep up. Nows the time to have your financial advisor and your realtor providing you with up-to-date information if you are looking to create opportunities in 2009.
There will be business this year, but you have to know when and how and in what direction things are moving. As for Setter and Associates, we are busy. Yes, we are listing more than we are currenlty selling however, the fence for buyers to sit on can only hold so much weight. When the fence breaks we will be ready. If you have a question you would like answered personally by all means give us a shout. We are always happy to talk with you. Here to Spring finally getting here. Enthusiastically, Dawn Setter
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• 2,594 sq. ft., 3 bath, 5 bdrm 2 story "Walk out basement" - MLS® $424,900 CAD - Possiblities are Endless! Qualicum Beach, Central Island - The possibilities are endless! Retire and have load of room for company or the perfect home for the young family. Basement set up is perfect for extended family or a B&B, while still having a large rec room and a 4th bedroom down, done with hardwood flooring and up beat trendy colours for the use of the upper level. Quiet cul-de-sac, easy care lot and just minutes to the village. Property information
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Walk to town!
• 1,850 sq. ft., 2 bath, 3 bdrm single story "Rancher with a great floor plan" - $399,900 CAD Hermitage Park, Qualicum Beach - HERMITAGE PARK 1,850 sqft quality built 3 bedroom rancher on crawl has many distinguishing features. Tiled foyer and skylight greats you upon entering, leads to formal living/dining room combination, through to the kitchen with island, cozy family room with gas fireplace. The attached sunroom adds to the decore making for a cozy & perfect place to entertain & have long dinners. Side door off kitchen leads to private outdoor patio, BBQ area, again super for summer entertaining! Nice size master bedroom with ensuite. RV parking, heat pump, gas furnace, easy care lot, all just a stones through away from Qualicum Village, walking trails, the Civic Centre & pool and easy access to either Hwy. Come take a look you'll be impressed. ! Property information
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One Owner home & it shows!!
• 1,500 sq. ft., 2 bath, 3 bdrm single story "Level entry Rancher" - $369,900 CAD Qualicum Beach, Central Island - Bright, airy and all the comforts to call home. Exceptionally well looked after one owner home. Nice open spaces yet still separate if it's a must. Newer carpets and laminate flooring throughout main living areas. 3 skylights really let the sunshine in. Crown moldings & newer window coverings add to the finishing touches. From the front yard and living room there's a terrific mountain view. Kitchen with small eating area is kept cozy with a wood stove nicely surround by a brick hearth. Covered patio over looks a good size back yard with wood storage shed and a mini barn out building for all the garden tools. Plenty of RV parking, landscaped yet simple to care for, loads of garden space, fruit trees and on a quiet street. An excellent location with a tranquil walk through the Civic Centre walking trails to town, stress-free access to both Hwy’s and a short 10 min stroll to the beach. All measurements are approximate and should be verified if important to buyer.
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EASY CARE LIVING
• 1,274 sq. ft., 2 bath, 2 bdrm single story "Rancher" - $319,900 CAD - PRICED TO SELL! Downtown, Parksville - The best of both worlds. The convenience of easy care living without being attached to your neighbour. One of Parksville's best locations. Wembley Place has it all. Location, all the amenities you need within walking distance including a short stroll to the beach. Bareland strata - so no big strata fees. One of the nicer floor plans with a separate double car garage. Makes for a bit bigger yard with more privacy. All the rooms are a good size and there's a nice little sitting area just off the kitchen. All measurements are approximate and should be verified if important to the buyer. Property information
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SEPARATE 2 BDRM CARRIAGE HOUSE
• 1,628 sq. ft., 2 bath, 5 bdrm single story - MLS® $429,900 CAD - Inside is a must see! Bowser/Deep Bay, Qualicum Beach - Step inside and go ahhhh! Totally redone right from the slate floor entry to the new kitchen, bathroom, crown mouldings, baseboards, doors, baseboards, roof and more. Nice spacious 3 bedroom rancher on 0.67 acres right in the heart of Lighthouse Country. 1600+ sqft gives you all the comforts of home with an island style kitchen opening up to the living area. Wide hallways leading to 3, not bad size, bedrooms and family room currently being used for sleeping quarters for extended family. Master bedroom has been extended offering a walk in closet and a small office area which could be turned into a master ensuite. Huge workshop with a 2 bedroom carriage house above for guest suite, mortgage helper or again extended family. Kick up your feet & enjoy your backyard from the sundeck. If it's rural your looking for, this is one affordable home you don't want to overlook. All this with a bit of a glimpse of the ocean. All measurements are approximate and information printed is deemed to be correct. It is the responsibility of the Buyer to verify if important. Property information
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GREAT FAMILY HOME
• 2,400 sq. ft., 3 bath, 4 bdrm 2 story "Level Entry Walk out basement" - MLS® $399,900 CAD Bowser/Deep Bay, Qualicum Beach - A family home at it's Best! Drive up and be impressed as you envision yourself sitting under the covered front porch. At 5 years young, this beautifully finished home holds your attention throughout. Starting with an open plan concept upon entry, laminate flooring on the main floor with an upbeat kitchen, 2 bedrooms and tons of storage. Continue downstairs and be greeted by 2 more exceptionally large bedrooms, an open den, rec room which accommodates a small size pool table and yes, even more storage. Perfect for the growing family! Lastly, make your way out to the welcoming back yard. Landscaped and fully fenced with a garden, small pond and deck ... Ideal for those sunny days. This home has it all, central vac, HRV System, Superior ICF construction plus RV Parking. There is nothing to do but move in and call it your home. All measurements are approximate and should be verified if important to the purchaser.
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