Powell River Neighbourhoods 2018

Powell River Neighbourhoods 2018

Powell River Neighbourhoods Update – 2018

I bought my first house when I was 19. It was a cute place, it was the home where my children spent their early years and it was profitable when I sold it. However, the location was a disappointment. At that time I had no understanding of the vast differences between neighbourhoods in my town. That lack of knowledge made my first real estate purchase more difficult that necessary.

There is no reason for buyers looking to purchase a home in Powell River to experience this frustration. Here are each of the main neighbourhoods described in a nutshell with the pros and cons of each one and what you can expect when you choose an area to move your family to:

My personal favorite is the Townsite neighbourhood. I lived there for eight years and enjoyed the romantic character of the old homes, the warm and friendly residents who are ever ready to lend a helping hand and the quiet, safe, streets where the many of the occupants keep a tidy yard and a well maintained home. This location has panoramic ocean views from many of the homes. The Townsite has the running track, movie theatre, tennis courts, lawn bowling club, white sand beaches, hiking trails and great restaurants. You will also find the brewery, a thrift shop, convenience store and cold beer and wine in this neighbourhood to keep you well stocked. While the general perception might be that Townsite is quite a distance from the centre of town, in fact, it is less than a ten minute drive.

My favorite parts of this area:

  • White sand beach
  • Character and charm
  • Friendly residents
  • Walking/biking trails

My least favorite thing about Townsite;

  • Many of the homes have a significant lack of parking

Townsite property values for the past two years have sat at an approximate average of around $340,000.

Wildood is a fascinating area that has an eclectic mix of rural and residential. In this neighbourhood you will find all the elements you would expect to find outside of the city limits such as livestock, farms and acreages but you will discover that the neighbourhood also has the convenience of city water and sewer, bus service and paved roads with sidewalks. A more interesting place you will have a hard time finding! The soil is great for growing and the residents have a relaxed attitude that makes for good neighbours. In Wildwood you have access to farm raised organic meat, dairy, honey, vegies and flowers and there are neighbourhood pubs and a convenience store.

My favorite part of this area:

  • Large sunny properties
  • Low traffic quiet streets
  • Delicious farm meat and produce

My least favorite thing about Wildwood:

  • The lack of access to the back roads and trails that connect to most of our wonderful back country recreation

Wildwood property values for the past two years have sat at an approximate average of $330,000.

Westview is the most popular area within Powell River. It is the city centre and where most of the businesses and amenities are located. Many Westivew properties have wide ocean views facing South or South West to capture the sunsets. Most residents carefully maintain their homes and yards and property values are slightly higher here compared to other locations. Attractions such as Willingdon Beach and playground, the Seawalk and the marina are located in Westview including the ferry terminal to Vancouver Island and Texada. Westview is the modern heart of Powell River.

My favorite part of this area:

  • Nearly all the shops, stores and restaurants are within in close proximity to each other
  • From this neighbourhood a car is not always necessary, walking is possible to many places
  • There are a variety of options for quality schools including public and private options

My least favorite thing about Westview:

  • There is a general lack of privacy on many of the streets.

Westview property values for the past two years have sat at an approximate average of slightly more than $360,000. It is also noteworthy that in the past two years there were over 300 properties sold in Westview, WAY more than any other neighbourhood!

Cranberry is a neighbourhood filled with quaint homes and a wide variety in the age and demographic of the people who live there. The area has a general unique and charming feel. This is a great place to start out as property values are more affordable than some other areas and there are an abundance of small homes. Recreation is king in Cranberry with access to Powell Lake where the relaxed lifestyle and summer living were instituted. The area has lots of large trees and forested parcels as well as pretty hills and fields. Very few properties in Cranberry have ocean views although some feature views of lakes.

My favorite aspects of Cranberry are;

  • The LAKE! Powell Lake and popular Mowat Bay on Powell Lake attract residents from all areas of Powell River to Cranberry for swimming and boating.
  • The charm. An old fashioned restaurant and shop (Magpies Diner and Mitchell Bros. grocery store) are a throwback to former times.
  • Affordability. Property values are lower here making Cranberry a great place to start out.

My least favorite thing about Cranberry:

  • Many property lines and boundaries are unknown or irregular.

Cranberry property values for the past two years have an approximate average of just under $300,000.

Rural Powell River includes the areas outside of the city limits. This is where I live currently. This region has a wide appeal to all sorts of people due to the large acreages that are available and the lack of restrictions or bylaws that exist in these neighbourhoods. Building permits are often not required when a home owner decides to build or renovate, zoning restrictions are rarely present to impede rental accommodation or business ventures on the properties and the property taxes are usually very low. The residents are an eclectic mix of environmentalists, farmers, people escaping the hustle and bustle of life and everything in between. There are a few amenities such as restaurants and convenience stores out here but you will find yourself driving the 10 to 30 minutes into town for most of the goods and services you need.

My favorite part of rural Powell River:

  • The serene peace and quiet
  • The access to back roads and back country recreation
  • The ability to have a fire on any of the beaches (unless a fire ban is in effect)

My least favorite part of rural Powell River

  • Having to maintain a septic and/or well on most of the properties.

Rural property values in Powell River for the past two years have had an approximate average around $450,000.

This brief explanation will help you decide what location is the best fit when you are looking to buy a home in Powell River. Of course, within each of the neighbourhoods mentioned, there are sub areas; Grief Point, Edgehill, Kelly Creek, Lund, Lang Bay, Sliammon, to mention a few. Enjoy the process of learning about Powell River and building your education around the local real estate market to ensure your next purchase is the best one possible! Of course, I would be happy to help you in your search and I welcome your questions and opinions.

Build or Buy?

Build or Buy?

Build or Buy?

I’m currently in the process of building a home for the second time in my life. As I work out the details and get over the hurdles associated with new construction it occurs to me that many people might be wondering if building their own home would be right for them. Powell River real estate is a hot market. The inventory of homes for sale is extremely low. Buyers may be frustrated with the options that are available for them to purchase. Perhaps building is the answer? It’s exciting to imagine! Here are the things you need to consider when making your decision of whether to build or buy…

The Cons of Building:
There is no question that purchasing a resale home is much easier than building new. It is an uncomplicated process with set costs, less stress and convenient financing options. Building a new home takes a long time. By the time you choose your lot, plan the design, arrange the contractors and do the landscaping, several months will have passed by. If you are handy enough to do some of the tasks yourself, or if you run into unexpected delays (which are common), you could see the better part of a year pass from start to finish. In the meantime, you need to have an alternate place to live and lots of extra time to spend overseeing the construction of the new house.
Building is also more expensive. Contractor wages, the cost of all the building materials and home finishings add up fast! Not only that but getting financing for construction is complicated. Lenders ask for a larger down payment and they provide the funds in several advances as you complete the work. You must carefully consider if you can manage the hundreds of decisions, hefty expenses and general stress that comes along with building your own home.

The Pros of Building:
It’s not all bad though, house construction offers you a brand-new home that is exactly what you want! New homes are extremely efficient with the latest building practices and materials that are designed to reduced energy consumption and provide the most comfortable living space. You will have fewer repairs and maintenance to do because a brand-new home lasts a long time without requiring any work. It is exciting to live in a home that you have brought to life, a place that fits your character and style to a T! Each colour on the wall, each plant in the garden, every handle and door knob will be to your liking and something you can be proud of. It is a wonderful experience! New homes are also a great investment as they tend to fetch a higher resale price than an older home does.

To build or buy? It’s a question not to be taken lightly. In summary, if you are the kind of person who is confident, a good communicator, flexible and not easily overwhelmed then you have the character to build your own home. Now that you know the pros and cons of each side you can make the decision that is best for you. Don’t forget to think about your partner and/or family as well; the decision will have an effect on everyone involved. Happy home ownership whichever road you choose to take! As always, I’m here to chat about Powell River real estate if you have any questions or comments.

Truth or Lies?

Truth or Lies?

The Truth About Real Estate
I have been selling real estate for over a decade and have helped hundreds of people buy and sell homes. I’m often surprised, however, by how many incorrect ideas exist about how real estate works. I am also disappointed when I notice the media giving the public incorrect real estate information. I would like to bring clarity to some of the most frequent real estate misconceptions. Here is the truth about real estate in British Columbia:
1. You do not have to contact the listing agent to get information on a property. The majority of listings are taken with an MLS service. The listing agent will gather a lot of property details and share that data with the rest of the real estate representatives in the community. A respectable agent can answer your questions about any house and give you a tour.
2. A professional agent can represent a buyer as well as a seller in a transaction without any conflict of interest. A buyer wants to buy – a seller wants it sold; they have the same goal. A good salesperson can facilitate an agreement that is pleasing to both parties and can often problem solve more effectively when issues arise with a full knowledge of both parties.
3. Most REALTORS do not make as much money as you think. Commissions are charged when a sale occurs. This means a seller does not risk having to pay any money if their home does not sell. Also, there are significant expenses that are usually deducted from the commission an agent charges; commission to the Buyer’s agent, office fees, MLS dues, continuing education costs and advertising expenses often take as much as one half of what a seller has paid to their REALTOR. According to Monster.ca the average REALTOR yearly income was roughly $50,000 in 2015.*
4. A professional agent will not say whatever it takes to make a sale. Honesty and integrity are an integral part of how I build my business and most real estate professionals hold those same values.
5. REALTORS help the public by providing extensive experience in buying and selling. We use tried and tested marketing techniques that reach a huge audience and we have a wealth of knowledge about how to achieve success with your real estate investment. We participate in ongoing training via professional education courses, legal updates, seminars and weekly meetings. We also cooperate closely together in a friendly manner so the expertise of an entire office is shared. All of this brings great financial and emotional benefits to our clients.
The truth is that the real estate industry plays a vital role in our provincial economy. “Real estate and construction together represent roughly 25 per cent of B.C.’s GDP, about the same dependence Alberta has on the oil and gas industry. The strength of this sector gave the province the highest GDP growth rate in Canada in 2015. The property transfer tax delivered $1.15 billion in revenue in the latest fiscal year.”# BC real estate is not a problem, do not quickly assume it should be drastically changed.
6. For most of the province our home is our largest asset. When it comes time to buy or sell, take care to place value on the seriousness of the transaction – find a quality real estate professional to work with. Don’t choose a REALTOR simply because they are your acquaintance, enlist a trusted professional who will place your interests first and do an outstanding job for you. This industry is not perfect and examples of bad real estate transactions do exist. However, knowing the truth about real estate will prepare you to make informed choices and maximize your real estate profits!
 
Buying in a Hot Market

Buying in a Hot Market

 

picture of real estate

The Powell River real estate market is heating up! If you are on the hunt for a home in a seller’s market you might feel overwhelmed. You can prepare for the challenges an active market presents however, and find yourself a solid investment in a great home! Read on to find out how to navigate Buying a Home in a Hot Market.

A strong real estate market has some distinct differences from a slower, buyers market. Here is what you can expect:

Low inventory. One of the driving forces causing price increases is a lack of homes for sale. This creates an opportunity for sellers to ask a little more for their homes because a purchaser that needs a place to live will pay more when there are few other options. This also means it’s hard to find a “good deal”. With homes selling fast (and plenty of buyers ready to pay full price) getting a discount on a home is harder than ever.

Buyer competition. With fewer homes on the market and more buyers on the home search, it is likely that you will have some competition when you find a home that works for you. Bidding wars are frequent and it can be disappointing to make an offer on a home only to be outbid by another party.

Pressure. A hot market means there is a rush to get in. Buyers have to rush to view new listings, act quickly to make an offer, and rush to get a home inspection done or deal with any other subject conditions on the offer. This pace can be stressful.

You can reduce the stress of buying in a hot market by preparing in advance and proceeding with confidence!

How to Prepare. Get a firm financing pre-approval! Don’t just casually talk to you bank or broker about what you can afford. Sit down with them, get them all the documents they require and get a definite assurance about what you can borrow. This prevents nasty surprises after you make an offer and gives you confidence when shopping.

Shop Before You Are Ready to Buy. Start attending open houses, driving by new listings, and even viewing some homes with your real estate salesperson to get a feel for the market and understand the price points. Choose your favorite neighbourhoods, figure out the style of home you prefer and watch what the homes sell for. Also look at all your options, perhaps buying a lot and building will work? Maybe a condo is the right choice for you? Don’t hastily conclude that a single family home is the only way to go. This education will prove invaluable to make you a smart, savvy, purchaser when the time comes to get serious about buying.

With your new understanding of a hot market and your preparations complete you can proceed with confidence! Here’s how to step up and get the home you love:

Be confident. This is a fast market but know that you are going to get a good home and don’t worry excessively about moving forward.

Go to a home ready to bid. Now that you are prepared, when you view a home be ready to make an offer immediately if the home is right for you.

Offer what you are willing to pay first. Don’t act on the impulse to make a low offer. This will only delay you getting a home and add to the stress.

Don’t quibble about the home inspection. Every home will have concerns that show up on a home inspection … every home. Don’t worry excessively if there are some repairs or maintenance that you will have to do after you move in.

A hot market has challenges but there are many advantages as well. The purchase investment you make starts growing immediately and has strong increases in an active market. Also, financing is often easier to secure when sales are strong. And a hot market means there is a lot of positive energy and excellent resale opportunities should you find yourself wanting to sell.

There is never a time when buying a new home is stress free, each market has challenges, but when you understand what you are up against, when you are fully prepared and when you go for it with confidence you can realize the Canadian dream of owning your own home and rest assured that your real estate profits are right around the corner!

Open House

OPEN HOUSE Saturday August 13 2016 from 1:00-2:00 pm

6295 Lund Street

$295,000 – 3 bedroom 1 bath home on one acre of land with a huge detached workshop!

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