Nanaimo Real Estate Blog - January 2007
Dave Liniger Buys CNN Hummer With $1 Million Donation
The generosity of RE/MAX International Co-Founders Dave and Gail Liniger was a top story on the CNN.com Web site Monday. Neck-and-neck with another bidder at a charity auction on Saturday, Dave Liniger wowed the crowd with a winning $1 million bid on CNN's (Warrior One) Hummer, which was refurbished last fall on TLC's(Overhaulin)program. Used in Iraq by a news team embedded with a Marine Corps unit in 2003, the remodeled Hummer was auctioned to raise money for the Fisher House Foundation, which provides a home away from home for families of wounded service members rehabilitating in military hospitals. The Hummer netted $1.25 million total when the fellow bidder agreed to pad Liniger's donation with an extra $250,000. (The guy who put the [$250,000] in was bidding against me up to the last minute,) Liniger (ABR, CRB) told CNN's Rick Sanchez. He turned around, he put his arms around me and he says, 'Hey, you buy the car, you get the car. I'll add 250 to it.' A fabulous gesture. Organizers expected the vehicle to net something in the hundreds of thousands, but few were prepared for Liniger's seven-figure bid. A Vietnam
veteran himself, Liniger couldn't pass up an opportunity to support wounded troops. Copyright © 2007 RE/MAX International Inc.1/22/07
Real Estate Market in Nanaimo cools off in 2006
The real estate market in Nanaimo has resumed to a bit more of a normal pace compared to it's fever pitch the last few years. This is a healthy sign and a much more sustainable market. The average home price in Nanaimo in December 2006 is $ 293,442 versus $265,427 in 2005, a 10% increase.
The 12 month YTD sales figures for 2006 were increased a little more as a percentage $288,880 versus $253,038, a 14% increase. Click here to
see my archive of Nanaimo MLS market stats
Year End Recap 2006
Well it has been an exciting year for me this year with lots of changes and excitement.
In October I became the first REALTOR ® in Nanaimo to successfully complete the REALTOR ® e-PRO course to become one of a select few real estate professionals
to earn the prestigious certification offered through the National Association of REALTORS.® There are only 14 REALTORS ® in B.C. with this designation and only 3 on Vancouver Island.
I completed the Luxury Home Marketing course this year.
In February I was in the top ten for sales volume in my office, #16 YTD. In February my father Dick Belcher along with his partner Frank Johnson won REMAX broker owner of the year for western Canada. This was later topped by them both winning RE/MAX broker/ owner of the year world wide out of 6500 offices.
Prices rose quickly in both February and March. Inventory levels climbed throughout the year but fell off in December. The number of days to sell a home varied between a high of 61
in the slow month of January to a low of 35 days in June. Sellers that did manage to sell their home were getting 97% - 98% of asking price. (if a home listed at 294,000 it likely would sell for $289,000). Homes that were properly priced and in good areas tended to sell quickly. Over priced homes typically went through one or two price reductions before selling.
Harbour Lynx Back in service
I was very happy to hear that starting in 2007 the fast ferry will once again be in operation. This will really help make Nanaimo more attractive to prospective Buyers but will aid with tourism
as well. The new company will call itself Sea Link Ferry Corporation.
Update (June 2014) the financing never came through, Island Ferry services Ltd. are trying to start something but nothing has happened so far.
Island Ferry services Ltd. said the service would start 6 months after they get investors on board. They are looking to raise 63 million. If the service goes forward the boats will run at 37
km/hr. with a top speed of 41 km/hr.
Building Code Changes coming soon!
The building code in Canada is updated every 10 years or so. This is then adopted by the Province and ultimately the city of Nanaimo. All the collective knowledge is added to make homes
safer to live in and last longer. With this in mind several changes are scheduled to be made to our building code. The most significant of these are the building envelope, waterfront set
backs and steep slope development. New homes will be built with a gap between the outer shell of the home and the wall to allow moisture a way out. Changes will be made to all aspects of home construction from
plumbing to electrical. The actual building code is several inches thick and far too detailed for me to explain here.
Even if the guidelines are pushed back for a period of time they will eventually be put in place. Any questions regarding these changes
should be directed to the city of Nanaimo. - City of Nanaimo Web site
Have a questions? Need to Buy or Sell? Give me a call.
I post both my cell and office number so my clients can reach me anytime. I am always happy to discuss your real estate needs.
Office 1-5140 Metral Dr. Nanaimo