Looking Forward to 2023

We are always excited about a new year. At the time of writing this newsletter, we are hard at work with our goal setting for 2023. Creating new plans with new ideas as well as refining our existing plans definitely gets us looking forward to the start of the year.

The real estate market in general is uncertain right now. What we know is that for sellers pricing a property correctly is crucial to having success. As a team that has experienced the highs and lows of real estate through the years, we know how to evaluate and market a property to make it attractive to the right buyer as well as help a seller understand what the current economics of the day mean for selling a property at that time.

Inventory for remote and recreational properties remains extremely limited. There are buyers looking for these properties, as evidenced by the fact that when a good one comes on the property it is attracting a lot of attention and in some cases still selling quickly. Pricing is important but in this niche market inventory is what makes the difference. Buyers need properties to look at!

As predictions indicate the interest rates for now will remain higher than last year, we expect the market to continue a little slower and for average prices to come down a bit more. However, people still need to sell properties and buy properties and as people adjust to the new market both buyers and sellers will gain confidence and settle into the reality of the moment.

We look forward to more work trips in the field, as with three agents scheduling these trips out of office is getting easier. Our goal is always to provide excellent service to all our clients, both buyers and sellers.

Finally, we wish you all a stellar 2023, however that might look for you. If buying or selling real estate is part of your plans for the year we are here to talk anytime.

It's a Coastal Lifestyle ... Live It!

6 Quick Touch-up Ideas Before Listing

 If you’re thinking of selling, you’re probably planning to do a few minor improvements to make your property more appealing to buyers. That’s a smart idea. 

The ideas below work as well for a recreational property as they do for residential properties, as giving any living space a more clean, spacious and updated look enhances that first impression. In addition, a good clean-up and clear-out of the property prior to listing is also recommended!

So, what are the best small improvements to make? Here are a few ideas:

·         Cabinet hardware. Upgrading the hardware on kitchen and bathroom cupboard doors and drawers can have a surprising impact on the look of those rooms. The best part is, this improvement is about as DIY-friendly as it gets!

·         Cover plates. If you have older light and electrical switches, replacing the cover plates with something more stylish can make a difference. It’s probably the simplest way to give a room a more modern look.

·         Countertops. Replacing kitchen or bathroom countertops isn’t cheap. However, it’s substantially less expensive than a full-on kitchen or bathroom renovation. And, new countertops make those rooms look refreshed.

·         Kitchen sink and faucet. If your current sink is old and stained, replacing it is a fairly simple improvement that will have a big impact. Also consider updating the faucet to further enhance the look of the space. There are hundreds of styles available.

·         Carpeting. Of all the types of flooring, carpets are the easiest and most affordable to replace. New carpets also create a clean and upgraded look. If you have old carpeting on the main floor or stairs, consider replacing it when selling.

·         Lights and fixtures. If you have old light fixtures in your home, especially in key areas such as the foyer and kitchen, your lighting may be dim. New fixtures will not only make those spaces more modern-looking and appealing, but the lighting will probably also be better too.

A little freshening up of your rooms can make all the difference to a prospective buyer walking into the space for the first time.

It's a Coastal Lifestyle ... Live It!

Wells as Domestic Water Source

Wells bring up the real pioneer vibe for so many people. That's because wells have always been a good, practical way to get fresh water to a home or property. Many recreational developments will put in wells of some sort, often shared between two or more properties. Older properties, especially on the islands or further outside of residential centres, will often have a well as their main water source. (Newer properties are as likely to have rain water collection or spring water collection into a cistern system.) 

Wells generally come in two forms - dug wells and drilled wells. A dug well does not mean necessarily dug by hand, a bucket auger may be used for deeper wells. You will often hear these types of wells referred to as shallow or deep dug wells, meaning the general depth of the well. Drilled wells are just as they sound, drilled by a machine to reach water.

The level of the underground water aquifer, the type of ground material, and the cost of the project all help determine what type of well will be installed. In BC a well should be installed by a qualified well pump installer, and there are specific rules that should be followed during installation. These rules are set out in the Ground Water Protection Regulations of BC.

Well documentation is something that is very useful to have when it comes to selling a property - well logs, installation, etc - so keeping good records if your property has a well will definitely be of benefit. If it is a property we are listing we will research any suspected well for location, well id tags, well logs, etc.

It's a Coastal Lifestyle ... Live It!