Sarah Baikie - RE/MAX Check Realty - Campbell River area

250-203-3087
 

Where do Campbell River's buyers come from? MLS does an Island wide annual survey but as we know Campbell River is very different from Courtenay, Nanaimo, Parksville etc


At Remax Check Realty, when we sell a home we have to complete a survey about the buyer. Our admin department has been tracking our survey results since 2010. Here's Campbell River's results for 2012 in a snapshot:
- 42% of buyers are from within the Campbell River area, 24% of buyers are from elsewhere on Vancouver Island, other BC 9%, Alberta 9%, Vancouver 3% and Victoria 2.4%. It pays to market locally! But not necessarily in print, keep reading and see below
- Before their purchase, 40% of buyers have lived in the community for less than a year. Try before you buy!
- 49% of buyers purchase their home for retirement. Baby Boomer alert! In 2010 it was only 40% and 2011 43%
- 71% of the buyers purchase a single family home, 8% apartment condo, 6% patio home, 0.7% acreage with house

- 36% of buyers first become aware of a property by their Realtor bringing it to their attention, 34% the internet, 3% relative or friend, 12% signage, 7% mls catalogue, 2% newspaper (it's true, the Homefinder is typically where sellers shop for a listing agent, and the curious community check out what homes in their neighbourhood are going for. It's not necessarily the lift out guide for buyers. What's interesting is, Sellers are for the most, adamant about having their homes advertised in the local paper)
- 27% of buyers choose a Realtor recommended to them by a friend or family member (please don't hesitate to mention my name), 16% prior client, 8% out of town Realtor referral, 9% trawling the internet, 5% walking into the office.
As a Realtor I genuinely appreciate the collation of stats, it better directs my advertising and marketing, it's what helps me to know how to get my listings SOLD!

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Hey, g'day! New listing 2060 Willis has sparked my curiosity today! I had to jump in my car and take a drive by.... it's 3 acres of level land listed for $350,000 which got my mind crunching numbers as to what it should sell for. 


What's interesting is this area of town is fully serviced (including sewer, although it's not pedestrian friendly but that will change in a matter of time when new roads and footpaths go in, the residents are making enough noise about that issue at City Hall), it's got larger parcels of land that can be subdivided (not today, sit on it and in the future as the population growth demands), close to downtown and it's level so not much dirt to shift around which cuts development costs. Basically, the Petersen/Willis Road area is an opportunity to become a future mini developer ka-ching, OR sit on it (earn revenue by renting the improvements) and flip it to someone else who can be bothered developing).


When I drove by 2060 Willis there was an excavator tearing up the front drive from the road right to the junky trailer that's noted on the listing as being "too dangerous to enter". Hmm, broken water main maybe? A nearby resident said they're putting in water lines etc which doesn't make sense as that would already be in place...? I'll dig around for more info as that's pertinent to value, especially if it's being set up for two residences with separate access on the same piece of land.


The listing (mls 358904) also says there is a two bedroom home that is apparently "renovated from the outside in" and for the life of me I can't see it even when I drove around the outer edge of the property.


Fair Market Value? Here are some of the recent sales and listings I'd be taking into account when crunching numbers. Basically, my approach comes down to calculating the price per square foot (of the land) after I've shaved off the improvements of 1) the subject property and 2) each comparable; and then I tack the improvements back on to the subject 2060 Willis. To do this I'd need to view 2060 Willis and get some answers as to what he excavator was up to and the condition of the mysterious 2 bedroom renovated home. I'm viewing the subject property hopefully Monday morning.


Here's a couple of comparables:
- Shady Stables which is a boomerang throw away, sold last week for $680,000 and is 5 acres with a newer 3 bed 2 bath rancher and many horsey type outbuildings/improvements of value.
- A month ago, my husband Chris was involved with the sale of a 12 acre property on Petersen Road that has a larger two level home in fair/good shape (drive by and you can see the siding being replaced at the moment), which sold for high $800s.
At the top end of Shetland Road is 15 acres, currently for sale at $850,000 which includes a good condition renovated trailer.
It's actually a positive that the area is not currently pedestrian friendly otherwise these parcels of land would be going for way more.

Listed by Toni and Carol at Remax Check Realty, clickety click on the link or best take a drive byhttp://toniandcarol.com/real-estate.php?view=39291


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Looking to buy, sell, invest or just simply curious - it’s in your best interest to take the time to read my market snapshot outlined below.

 
Campbell River is on the move and the first quarter figures indicates it’s upwards and onwards.


May saw 56 homes sold, only 4 short of April’s record breaking 60. Which is a big improvement from April 2012 which saw 41 homes sold and May 2012 which saw 43 homes sold. June’s sales were 37, which continues to be better than June 2012 which saw 33 homes sold. Inventory of single family homes in June 2012 ballooned to 345, compared to 255 in June 2013. That is almost 100 less single family homes for buyers to choose from today. Demand is increasing; supply is shrinking. Out on the field we are experiencing buyers turning their attention to lots and new construction. Reason being, buyers are struggling to find what they want in the shrinking inventory of existing homes.


For now, prices are stable, however if this supply/demand trend continues the upward pressure will come. It’s already happening in some sectors of the market such as bare land.


Sales of lots doubled in May (14 units) compared to May 2012 (7 units). This growth continued into June as well, seeing 8 lots sold versus the 5 sold in June 2012. The median price of lots trended upwards from $94,000 in May up to $100,000 in June. The cheaper lots have sold, mostly snapped up by local builders in a rush to keep their construction costs down in a local market showing great signs of recovery. KLP Construction is rumoured to have purchased 30 lots in Discovery Plateau which is now sold out for the time being (phase 6 scheduled for release in 2014). Desolution Land Corp and NVH Homes are snapping up lots like hot cakes in Jubilee Estates (phase 4 is rumoured for release in a matter of weeks). Earlier this year, Ted Maxwell was selling Parkway Estates lots for $85,000 upwards; however in June the minimum price was raised to $118,900. In a nutshell, if you have a spare $25,000 and access to financing, contact Sarah as soon as possible.


Sarah are bare land and new construction specialists and are happy to share her top 5 best value lots to buy today.


Question: When is the best time to buy a lot, an investment property, build a new home, sell your current home so you can buy upwards into a higher price range?


Reply comment 'Today!'

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