A new
year can sometimes bring new challenges. As you may be aware, the
Superintendent of Real Estate in BC has recently brought some new changes into
the way real estate assistance is delivered to clients. One of the changes
which will have a larger impact on our office than perhaps others is the
elimination of Limited Dual Agency. In the past and especially with our
recreational properties, we have been able to work on behalf of both seller and
buyer with their permission and understanding of what that means. We will no
longer be able to provide this service. The new rules come into effect in March
2018 and we are still working out how the BCO Team is going to approach these
changes. Our clients’ best interests are always at the front of mind and will
continue to be as we move forward in this changing real estate landscape.
Campbell
River continues to thrive, serving as a hub for many coastal industries. The
City continues to promote a diverse economic and cultural community, and there
is a lot of physical development happening throughout. Perhaps the biggest draw
to Campbell River though is the lifestyle it provides – giving some of the best
access to beaches, lakes, mountains and forests of anywhere on the coast.
In
the recreational market we have seen some long standing inventory be consumed
and a start in an upward trend in prices.
While
there continues to be a steady small presence of American and international
buyers, the majority of people looking at properties on the BC Oceanfront
website are Canadian, predominantly from the island and lower mainland. Buyers
are looking for recreational property close to home, and many are exploring
downsizing from a larger family home to a smaller residence plus a recreational
property.
Early
in 2018 we look forward to introducing a selection of private lakefront
acreages on northern Vancouver Island – something not seen before.
The
BCO Team wishes all our clients a contented holiday season and we look forward
to working with you in 2018.