I recently had an enquiry asking what is the difference between a strata and a bare land strata and whether there was a benefit of one over the other.

 

The Real Estate Council of British Columbia state that "the floors, walls and ceilings of the unit define the boundaries of strata lots in a building strata plan, which is the most common form of strata plan. Unless something different is shown on the strata plan, the boundary of a building strata lot is midway between the surface of the structural portion of the wall, floor, or ceiling that faces the strata lot and the surface of the structural portion of the wall, floor or ceiling that faces the other strata lot, the common property or the other parcel of land. In other words, an owner’s strata lot extends to the center of the ...

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In real estate there are a number of terms that you may, or may not, be familiar with. The following is by no means a definitive list of everything you will come across but covers quite a few of them. 

 

This list is based on the one found on the BCREA website which can be found HERE.

 

 

A

 

ALR  Agricultural Land Reserve A provincial zone in which agriculture is recognized as the priority use, farming is encouraged and non-agricultural uses are controlled.

 

Amortization The number of years a borrower is scheduled to repay the entire amount of a mortgage.

 

Appraisal An estimate of a property’s market value, used by lenders in determining the amount of a mortgage.

 

Appreciation The increase of a property’s value over time.

 ...

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Real Estate Monthly Statistics for December 2017 and the Annual Statistics

 

 

December 2017

November 2017

December 2016

Nanaimo

     

Unit Sales:

120

116

71

Average Sale Price:

$529,724

$531,307

$451,465

       

Parksville / Qualicum

     

Unit Sales:

 28

59

24

Average Sale Price:

 $536,034

$612,156

$490,321

 

Nanaimo home sales increased 69% in December 2017 when compared with December 2016. The average sale price increased 17%. The median house price was $505,000.

Parksville/Qualicum home sales increased 17% in December 2017 when compared with December 2016. The average sale price increased 9%. The median house price was $517,000.

Annual Statistics

 

2017

2016

% change

Nanaimo

     

Unit Sales:

1605

1698

-5%

Average Sale Price:

$518,449

$447,440

16%

       

Parksville / Qualicum

     

Unit Sales:

 797

935

-15%

Average Sale Price:

 $548,378

$482,467

14%

...
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Please visit our Open House at 4915 DENFORD PLACE in NANAIMO.
Open House on Saturday, October 28, 2017 2:00PM - 4:00PM
This large 3,200 sq ft family home is located on a no through road in the desirable Rocky Point area of North Nanaimo & is also close to the picturesque Neck Point Park, Pipers Lagoon & the hiking trails of Linley Valley. The home provides easy access being main level entry with the master bedroom (plus 4 piece en-suite), 2nd bedroom, family bathroom & main living areas being on this level. Downstairs you will find 2 more bedrooms, a large family room, a 4 piece bathroom & an unfinished room that could be used for storage or as a workshop. On the upper level there is a large 5th bedroom that could be kept as a bedroom or would make an ideal craft or hobby room....
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Please visit our Open House at 4915 DENFORD PLACE in NANAIMO.
Open House on Sunday, October 15, 2017 1:00PM - 3:00PM
This large 3,200 sq ft family home is located on a no through road in the desirable Rocky Point area of North Nanaimo & is also close to the picturesque Neck Point Park, Pipers Lagoon & the hiking trails of Linley Valley. The home provides easy access being main level entry with the master bedroom (plus 4 piece en-suite), 2nd bedroom, family bathroom & main living areas being on this level. Downstairs you will find 2 more bedrooms, a large family room, a 4 piece bathroom & an unfinished room that could be used for storage or as a workshop. On the upper level there is a large 5th bedroom that could be kept as a bedroom or would make an ideal craft or hobby room....
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I have listed a new property at 1060 STRATHMORE STREET in NANAIMO.
This delightful split level home is located in Central Nanaimo so close to amenities & also situated on a large flat lot which is a gardeners paradise with grape vines, fig, kiwi, apple, plum & cherry trees. Plus sprinkler system, 2 sheds, covered patio & the rear garden is fenced. Inside there is an 11' vaulted ceiling which helps to give the home a bright & spacious feel with all of the abundant light. There are also wood floors on the main and upper level, a gas fireplace & a galley kitchen. On the upper level there are 2 bedrooms with wood floors & a 4 piece bathroom. The lower level has a second bathroom plus a family room & a room that was used as a kitchen in previous years giving this home plenty of ...
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I have listed a new property at 4915 DENFORD PLACE in NANAIMO.
This large 3,200 sq ft family home is located on a no through road in the desirable Rocky Point area of North Nanaimo & is also close to the picturesque Neck Point Park, Pipers Lagoon & the hiking trails of Linley Valley. The home provides easy access being main level entry with the master bedroom (plus 4 piece en-suite), 2nd bedroom, family bathroom & main living areas being on this level. Downstairs you will find 2 more bedrooms, a large family room, a 4 piece bathroom & an unfinished room that could be used for storage or as a workshop. On the upper level there is a large 5th bedroom that could be kept as a bedroom or would make an ideal craft or hobby room. There is a double garage & at the rear it is fully fenced...
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Please visit our Open House at 4915 DENFORD PLACE in NANAIMO.
Open House on Saturday, October 7, 2017 2:00PM - 4:00PM
This large 3,200 sq ft family home is located on a no through road in the desirable Rocky Point area of North Nanaimo & is also close to the picturesque Neck Point Park, Pipers Lagoon & the hiking trails of Linley Valley. The home provides easy access being main level entry with the master bedroom (plus 4 piece en-suite), 2nd bedroom, family bathroom & main living areas being on this level. Downstairs you will find 2 more bedrooms, a large family room, a 4 piece bathroom & an unfinished room that could be used for storage or as a workshop. On the upper level there is a large 5th bedroom that could be kept as a bedroom or would make an ideal craft or hobby room....
Read Full Story
Please visit our Open House at 4915 DENFORD PLACE in NANAIMO.
Open House on Sunday, October 8, 2017 2:00PM - 4:00PM
This large 3,200 sq ft family home is located on a no through road in the desirable Rocky Point area of North Nanaimo & is also close to the picturesque Neck Point Park, Pipers Lagoon & the hiking trails of Linley Valley. The home provides easy access being main level entry with the master bedroom (plus 4 piece en-suite), 2nd bedroom, family bathroom & main living areas being on this level. Downstairs you will find 2 more bedrooms, a large family room, a 4 piece bathroom & an unfinished room that could be used for storage or as a workshop. On the upper level there is a large 5th bedroom that could be kept as a bedroom or would make an ideal craft or hobby room....
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I have listed a new property at 106 25 MAKI ROAD in NANAIMO.
This quaint 2 bed, 1 bath home is located in the popular Seabreeze mobile home park. The home has a large covered deck and 16' x 8' addition which is great for storage or could be finished into a 3rd bedroom or den. There is newer flooring and the bathroom has had updates with a newer walk-in shower. This park is located close to grocery stores, shopping and restaurants with easy access to the highway.
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