Please visit our Open House at 181 Quadra Loop in Quadra Island. See details here

Virtual Open House on Saturday, October 29, 2022 2:00PM - 3:00PM Open house live on Instagram and facebook, but if you have a client that wants to come with an agent please let me know and I'll be available to show it. I'll be there for an hour from 2-3pm on Saturday October 29.

OCEANFRONT guest cabin and a house with ocean view! Beautiful east facing location with breathtaking views. The main house is located at the street level on Quadra Loop which has very little traffic and is blissfully quiet . Lots of mature trees on the property and a nice garden. Lots of improvements, 16x10 loft added, fenced yard and a garden full of fruit trees, apples, plum, cherry, peach and a fig. The view is hard to beat, looking out to Marina Island and Cortes Island. In addition, there is a separate cabin at the bottom of the property that extends right to the beach. Very quiet and private location, with daily whale sightings during the summer. The property has a great potential for a short term rental or a summer home by the ocean. This is an artist's dream with lovely sitting areas and a private feel. It's a must see.

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Please visit our Open House at 180 Sundance Rd in Quathiaski Cove. See details here

Open House on Saturday, October 29, 2022 10:00AM - 11:30AM Public Open House this Saturday October 29, 10-11:30am

10 ACRE SLICE OF HEAVEN! A beautiful 10 acre piece of ALR land in the sunny south end of Quadra Island twelve minutes from the ferry and shopping. The house is custom built from insulated concrete forms, made with love. The main floor has beautiful stained concrete floors that have radiant heating. The kitchen offers practical configuration and includes a gas stove. The living room is an open concept with a bar for extra seating. The property is set up for having animals with fencing and three large run in sheds, a large grass field and hay barn. In the back there is a stream that runs most of the year. The property gets lots of good sunlight and has plenty of space in the back for growing crops and even an orchard. The possibilities that this property can create are endless. If you can dream it, you can create it here. Public OPEN HOUSE this Saturday October 29, 10-11:30am

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Please visit our Open House at 597 Green Rd in Quathiaski Cove. See details here

Open House on Saturday, October 29, 2022 12:00PM - 1:30PM please come view this gem on Saturday October 29, at 12 noon until 1:30pm

ENERGY EFFICIENT, GREAT LOCATION. This little jewel of a house is situated on a fully fenced 1.39 acre gently sloped, partially forested lot with trails throughout. It offers few sunny gardens with fruit and nut trees. Centrally located with only a 10 min. walk to the ferry and shops. This well designed energy efficient 2 bedroom 1 bathroom home features a woodstove, energy efficient heaters, rain water collection cistern, screened porch and an attached garage. Lot of space for pets and more gardens. Must be seen to be appreciated! Public OPEN HOUSE Saturday October 29, at 12 noon until 1:30pm

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I have listed a new property at 597 Green Rd in Quathiaski Cove. See details here

ENERGY EFFICIENT, GREAT LOCATION. This little jewel of a house is situated on a fully fenced 1.39 acre gently sloped, partially forested lot with trails throughout. It offers few sunny gardens with fruit and nut trees. Centrally located with only a 10 min. walk to the ferry and shops. This well designed energy efficient 2 bedroom 1 bathroom home features a woodstove, energy efficient heaters, rain water collection cistern, screened porch and an attached garage. Lot of space for pets and more gardens. Must be seen to be appreciated!

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ENERGY EFFICIENT, GREAT LOCATION.
This little jewel of a house is situated on a fully fenced 1.36 acre gently sloped, partially forested lot with trails throughout. It offers few sunny gardens with fruit and nut trees. Centrally located with only a 10 min. walk to the ferry and shops.
This well designed energy efficient 2 bedroom 1 bathroom home features a woodstove, energy efficient heaters, rain water collection cistern, screened porch and an attached garage. Lot of space for farm animals and more gardens. Must be seen to be appreciated!


Full details HERE

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I have sold a property at 1490 Schooner Rd in Quadra Island. See details here

Heriot Bay oceanview home featuring panoramic views across Rebecca Spit Provincial Park! The home was built in 1997 & boasts many updates including new siding, new fascia, rebuilt decks & all new exterior paint. The main level features vaulted ceilings & a river rock propane fireplace in the living room & sliding door from the dining room out to the deck. There is 1 bedroom & one 3pc bathroom on the main floor, which allows the home to live like a rancher. Upstairs you’ll find a family room with kitchenette, sliding door to a deck, a spacious bedroom & 3 pc bathroom. The lower floor has an unfinished laundry room with door to 2 unfinished rooms awaiting final touches. There is also a 1 bedroom, 1 bathroom suite on the lower floor with sliding door out to the lower patio & yard. The 0.35 acre property has some mature shrubs & lawn area around the home. Located in a very desirable area on Quadra Island, within walking distance from shops in Heriot Bay or a short drive to Rebecca Spit!

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I have listed a new property at 181 Quadra Loop in Quadra Island. See details here

OCEANFRONT guest cabin and a house with ocean view! Beautiful east facing location with breathtaking views. The main house is located at the street level on Quadra Loop. There is a separate cabin at the bottom of the property that extends to the beach. Very quiet and private location, with daily whale sightings during the summer. Lots of mature trees on the property and a nice garden. The property has a great potential for a short term rental or a summer home by the ocean. It's a must see.

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I have listed a new property at 180 Sundance Rd in Quathiaski Cove. See details here

10 ACRE SLICE OF HEAVEN! A beautiful 10 acre piece of ALR land in the sunny south end of Quadra Island seven minutes from the ferry and shopping. The house is custom built from insulated concrete forms, made with love. The main floor has beautiful stained concrete floors that have radiant heating. The kitchen offers practical configuration and includes a gas stove. The living room is an open concept with a bar for extra seating. The property is set up for having animals with fencing and three large run in sheds, a large grass field and hay barn. In the back there is a stream that runs most of the year. The property gets lots of good sunlight and has plenty of space in the back for growing crops and even an orchard. The possibilities that this property can create are endless. If you can dream it, you can create it here.

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I have listed a new property at 935 Haida Ave in Port Alice.
BREATHTAKING OCEAN AND MOUNTAIN VIEWS! 3 bedroom & 1 bath home, on a large lot 9,583sf, quiet neighborhood. The house has had a good share of updates with a brand new roof that has just been replaced this year. This could be a great summer home or a full time home in a great community. Great hikes close by, fishing, tranquil North Island is calling you!
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Junuary is in full swing and it seems like summer is still just a dream for now. Working in the garden in between the cold rain is not as much fun but I hope summer will arrive soon enough.

Real Estate markets across the country have been showing signs of slowdown. I suspect that it will be short lived because even though the higher interest rates will discourage some buyers, the demand is still very strong across the whole country. There simply is not enough houses for sale to meet everyone’s demand.

Campbell River
The Vancouver Island Real Estate Board (VIREB) housing market appears to be shifting amidst lighter demand and increased inventory


The increased inventory is good news for buyers, giving them more options to choose from and easing the pressure to move too quickly when making an offer. However, the market still favours sellers, and balanced conditions seem to be some distance away. According to the British Columbia Real Estate Association (BCREA), it will take a substantial decline in demand to return active listings on Vancouver Island to a healthy state.

In Campbell River, the benchmark price of a single-family home hit $76,200 in May, up by 29 per cent from the previous year.
Benchmark Price for an apartment: $385,700.
Benchmark Price for a Townhouse: $527,100.
Quadra Island
Quadra Island in May had 3 new listings, 1 sold (pending), 1 sold, 1 expired.
If you would like more details including “sold prices” go to my website, sign up and log in for free to members only area that will provide that information www.quadrarealty.ca
Cortes Island
May on Cortes Island had 3 new listings and 1 sold (pending).
If you would like more details including “sold prices” go to my website, sign up and log in for free to members only area that will provide that information www.quadrarealty.ca

Calgary
“For the second month in a row, sales activity trended down after all-time record high sales in March. “While higher lending rates are weighing on sales activity, the market is still struggling with supply levels and rising prices which could also be contributing to slower sales, especially in the detached market. Nonetheless, if this shift continues, we could begin to see more balanced conditions in the market over the next several months, slowing the pace of price growth in the market.
The benchmark price of detached homes in the city of Calgary hit $648,500;
semi-detached: $584,700;
row home: $363,300;
apartments: $275,300.”

Vancouver
VANCOUVER, BC – June 2, 2022 – After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro Vancouver* this spring due, in large part, to rising interest rates.
“With interest rates rising, home buyers are taking more time to make their decisions in today’s housing market,” said Daniel John, REBGV Chair. “Home buyers have been operating in a frenzied environment for much of the past two years. This spring is providing a calmer environment, with fewer multiple offer situations, which is allowing buyers to explore their housing options, understand the changing mortgage market, and do their due diligence.”

 “Upward pressure on home prices has begun to ease in the housing market over the last two months,” John said. “Where home prices go next will depend on housing supply. While we’re beginning to see modest increases in home listings, we still need housing supply totals to more than double to bring the market close to balanced territory.”

The benchmark price for a detached home is $2,093,600. This represents a 15 per cent increase from May 2021.
The benchmark price of an apartment home is $779,700. This represents a 15 per cent increase from May 2021.
The benchmark price of an attached home is $1,141,200. This represents a 21.5 per cent increase from May 2021.

Toronto
TORONTO, ONTARIO, June 3, 2022 – Greater Toronto Area (GTA) housing market conditions continued to evolve in response to higher borrowing costs. Similar to April results, May 2022 sales were down on a monthly and annual basis.

“Bank of Canada rate hikes, including the 50-basis point hike on June 1, are impacting home buyers in the short term. There is now a psychological aspect where potential buyers are waiting for a bottom in price. This will likely continue through the summer. However, as home buyers adjust to higher borrowing costs, housing demand will be supported by extremely low unemployment, high job vacancies, rising incomes and record immigration,” said TRREB President Kevin Crigger. 

The average price for a detached home in area (416) is $1,914,890.
The average price of a semi-detached home (416) is $1,426,273.
The average price of a townhouse (416) is $1,045,874.
The average price of a condo (416) is $793,124 as reported by the Toronto Regional Real Estate Board (TREBB).

Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®
Home number: 250-285-2141
Quadrarealty.ca proud sponsor of Quadra Island online community www.quadra.life



 


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I have sold a property at 1364 Hooley Rd in Quadra Island.
DETACHED SHOP, GARDEN, PRIVATE. Gently sloping 0.71acre lot is surrounded by a forest, with nature trails right beside the house. Located in a family oriented, at the end of a no thru road, quiet neighborhood, just a short walk to Rebecca Spit Provincial Park. Short distance to all the services and shopping in Heriot Bay. This beautiful quality home built in 2007 by a reputable local builder J. Toelle Construction Ltd. features 3 bed, 1bath, rancher type home that feels large and bright. It's a must see! Easy to show! Call your agent to schedule a showing today!
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Finally, Spring is here, and we can finally work in the garden! I missed being outside doing what I love.

When it comes to Real Estate, it seems like the desired results of cooling down the market have been achieved by the government. The increase of interest rates seems to be slowing down some purchasers from committing currently. More rate hikes coming in June.

Here is a brief summary of what each real estate board is saying about their region: 

Campbell River
Additional inventory positive news for buyers.
“Higher interest rates may also be tempering how much buyers are willing to spend when making an offer. However, it is too early to say whether conditions are beginning to shift towards a more balanced market. According to the British Columbia Real Estate Association, housing markets in British Columbia are so lopsided that it will take a substantial decline in demand to return active listings to a healthy state.

That said, sales did dip in April. By category, 507 single-family homes were reported sold on the MLS® System in April, a 13 per cent decrease from one year ago and down by three per cent from March.”
In Campbell River, the benchmark price of a single-family home hit $769,800 in April, up by 31 per cent from the previous year.
Benchmark Price for an apartment: $385,700.
Benchmark Price for a Townhouse: $527,100.
Quadra Island
Quadra Island in April had 5 new listings, 3 sold (pending).
If you would like more details including “sold prices” go to my website, sign up and log in for free to members only area that will provide that information www.quadrarealty.ca

Cortes Island
April on Cortes Island had 2 new listings listed and 1 cancelled.
If you would like more details including “sold prices” go to my website, sign up and log in for free to members only area that will provide that information www.quadrarealty.ca

Calgary
“Following an all-time record high month of sales in March, activity slowed down in April. However, with 3,401 sales this month, it was still a gain of six per cent over last year and a record high for the month of April. “Despite some of the monthly pullback, it is important to note that sales remain exceptionally strong and are likely being limited due to supply choice in the market,” said CREB® Chief Economist Ann-Marie Lurie. “While further rate increases will likely start to dampen demand later this year, more pullbacks in new listings this month are ensuring the market continues to favour the seller, resulting in further price gains.”

The benchmark price of detached homes in the city of Calgary hit $628,900; semi-detached: $487,900; row home: $343,000; apartments: $272,600.

 Vancouver
“Metro Vancouver home sales return to more traditional levels in April. “So far this spring, we’ve seen home sales ease down from the record-breaking pace of the last year,” Daniel John, REBGV Chair said. “While a small sample size, the return to a more traditional pace of home sales that we’ve experienced over the last two months provides hopeful home buyers more time to make decisions, secure financing and perform other due diligence such as home inspections.”
The benchmark price for a detached home is $2,139,200. This represents a 20.8 per cent increase from April 2021.
The benchmark price of an apartment home is $844,700. This represents a 16 per cent increase from April 2021.
The benchmark price of an attached home is $1,150,500. This represents a 25 per cent increase from April 2021.

Toronto
“The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs, with the number of transactions down on a monthly and annual basis. As has been the case with previous rate tightening cycles, some home buyers have moved to the sidelines to determine how they will reposition themselves in the marketplace given the higher rate environment and related impact on affordability.

“Based on the trends observed in the April housing market, it certainly appears that the Bank of Canada is achieving its goal of slowing consumer spending as it fights high inflation. Negotiated mortgage rates rose sharply over the past four weeks, prompting some buyers to delay their purchase. Moving forward, it will be interesting to see the balance the Bank of Canada strikes between combatting inflation versus stunting economic growth and related government revenues as we continue to recover from and pay for pandemic-related programs,” said TRREB President Kevin Crigger.”
The average price for a detached home in area (416) is $1,947,975.
The average price of a semi-detached home (416) is $1,494,640.
The average price of a townhouse (416) is $1,086,986.
The average price of a condo (416) is $820,835 as reported by the Toronto Regional Real Estate Board (TREBB).

I’m off, back to the garden before the rain comes! Enjoy the sun!

 Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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The market is changing

 A very drastic title, just to grab your attention. I noticed lately that a lot of media outlets love to grab people’s attention by using a good title. Often, it’s not accurate and misleading but the sound bite is already out there and that’s what influences the masses. Not many people bother to read the whole article but base their opinions on these cleverly manipulated opinions. I suspect, that’s how critical thinking was abolished.

I would like to share some facts about the market and will try to avoid sharing my opinions, but before I do that, I wanted to give a round of applause to all the people that showed up to the Public Meeting at the community center last week. In case you missed the meeting, a lot of people showed up and we had a lot of great speakers. One thing I took away from this meeting was that people still care about this community. I have gotten used to seeing people’s eyes glazing over when you mention anything about politics. To my pleasant surprise I saw a nice mix of young people and experienced folks; and it warms my heart that a lot of people don’t only think about money. Job creation is nice, but change must be carefully planned with feedback from the citizens. It should never come down from the top. I’m curious to see what will happen with this proposal of rezoning but I really hope the democratic system still works here. Sorry I deviate from my main topic, but it’s important to note that communities consist of people, not empty summer houses.

It’s hard not to notice the news talking about the high level of inflation these days. In order to curb the inflation banks will be unveiling more interest rate hikes and effectively shrinking their monetary policy. A valid question is, how will it impact real estate in Canada?

What we are seeing today is a highly distorted curve of demand vs supply in the market. I think the higher interest rates will force prices down, but because the demand is still very high, I don’t think prices will decline significantly and probably only in some areas.

In addition to interest rate increases the government has proposed a freeze on foreign buyers. The government thinks that banning foreign ownership for 2 years will make an impact on affordability. I highly doubt that since foreign buyers consist of only about 3% across the country. No details have been revealed yet but as soon as I will know, I wish share. 

Another controversial measure proposed by the government to cool down the market is the introduction of a “cooling off period”. Similar tool exists in a pre-build market where a buyer who buys a condo that hasn’t been built yet can rescind their offer within few days after signing the contract. Unfortunately, this proposed measure would be favoring the buyers and possibly punishing the sellers. No details have been revealed by the government yet, but I will keep you posted.

One more proposal made by the government is to create a multiple offer registry, where all offers that the seller received would be registered. I think this is a great idea to gain more transparency and trust in the system. Similar system already exists in Toronto and seems to work well. Currently there’s no details about this yet but I hope it will be rolled out soon.

 Couple interesting statistics that also have an impact on real estate prices:

- more than 100,000 people moved to BC in 2021 (most since 1961)

- In BC between the years 2010-2015 we had an average of 40,000-50,000 active listings consistently every year. Since 2016 something happened and the number of available homes for sale has been considerably falling. In 2022 we are on track for about only 15,000 active listings for the year. A healthy balanced market is roughly 40,000 active listings.
We have been under a very low supply of inventory for many years and if you would like to get some hints of the core issue you could google questions like: “When was Justin Trudeau elected? What is Justin Trudeau’s immigration policy?” to get some interesting answers.

In summary, the sky is NOT falling. Prices in our area are still affordable for people coming from the city. Things will probably slow down, and we may not see as many multiple offers. Properties will take longer to sell, and prices will level off. Only time will tell.

Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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OCEAN VIEW, 2 side-by-side lots totaling 4.69 Acres! Escape the city to this tranquil oasis! If you enjoy gardening, any outdoor activity like kayaking, fishing, hiking, biking or swimming, Cortes Island might be your place. This property is truly a gem! Lots of potential on this gorgeous property. The rustic house could be revived to its former glory or build new. The back of the property includes densely forested area. Conveniently located close to the ferry terminal. Showings by appointment only.
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March in Real Estate

Spring is in the air and the nature is waking up from its wintery rest and hibernation (including myself!). Last few weeks have been quite busy for me therefore there was no time to contribute with an article in the last Discovery newsletter. In this edition however, I would like to share March statistics with you.

Campbell River

Inventory in the Vancouver Island Real Estate Board (VIREB) area is slowly inching up but is still far from ideal.

In Campbell River, the benchmark price of a single-family home hit $722,400 in March, up by 28 per cent from the previous year.
Benchmark Price for an apartment: $363,300.
Benchmark Price for a Townhouse: $537,300.

Quadra Island
Quadra Island in March had 2 new listings, 2 sold (pending), 2 cancelled, and 1 expired listing.If you would like more details including “sold prices” go to my website and sign up and log in for free to members only area that will provide that information www.quadrarealty.ca
Cortes Island
March on Cortes Island had 1 new listing listed at $775,000 and 3 pending.If you would like more details including “sold prices” go to my website and sign up and log in for free to members only area that will provide that information www.quadrarealty.ca

Calgary
For the second month in a row, sales activity not only reached a monthly high but also hit new record highs for any given month. Gains occurred across every property type as they all hit new record highs.
“While supply levels have improved from levels seen over the past four months, inventory levels are still well below what we traditionally see in March, thanks to stronger than expected sales activity,” said CREB® Chief Economist Ann-Marie Lurie. “With just over one month of supply in the market, the persistently tight market conditions continue to place significant upward pressure on prices.”

The benchmark price of detached homes in the city of Calgary hit $620,500; semi-detached: $478,400; row home: $335,400; apartments: $265,900.

Vancouver
“Market remained elevated in March."

“March of 2021 was the highest selling month in our history. This year’s activity, while still elevated, is happening at a calmer pace than we experienced 12 months ago,” Daniel John, REBGV Chair said. “Home buyers are keeping a close eye on rising interest rates, hoping to make a move before their locked-in rates expire.”

The benchmark price for a detached home is $2,118,600. This represents a 23.4 per cent increase from March 2021.
The benchmark price of an apartment home is $835,500. This represents a 16.8 per cent increase from March 2021. The benchmark price of an attached home is $1,138,300. This represents a 28.1 per cent increase from March 2021.

Toronto
There were almost 11,000 Greater Toronto Area (GTA) home sales reported in March 2022, capping off the third-best March and second-best first quarter on record. Tight market conditions continued to support a double-digit annual pace of price growth, with an average selling price of $1.3 million. The average selling price dipped slightly month-over-month, bucking the regular seasonal trend

However, we did experience more balance in the first quarter of 2022 compared to last year. If this trend continues, it is possible that the pace of price growth could moderate as we move through the year,” said TRREB Chief Market Analyst Jason Mercer. 

The average price for a detached home in area (416) is $1,920,018.
The average price of a semi-detached home (416) is $1,545,447.
The average price of a townhouse (416) is $1,117,469.
The average price of a condo (416) is $831,351 as reported by the Toronto Regional Real Estate Board (TREBB).
Today we are facing the most serious housing crisis ever, in this country. Yet, we continue to keep faith that our government will come and save us, even though the government has created these problems in the first place. Have you seen the latest government proposals to “help” with the housing market? I may address those in my next article. As for now…. I’m once again excited about this new gardening season.
One thing I have learned last year, the hard way, is planting seeds too early.  The wait is hard, but in another week or so we should be good to go, my fellow gardeners. Thank you to all the gardeners for sharing valuable information with the community. I have lots to learn.

Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®
Home number: 250-285-2141
Quadrarealty.ca

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I have sold a property at Lot 61 Busby Island in Sonora Island.
Undeveloped oceanfront property on the protected eastern shore of Busby Island, directly across from Sonora Island and part of the popular Owen Bay area in the Discovery Islands region. The property is primarily level, sloping gradually to a forested bluff overlooking the oceanfront and the beautiful inside tidal waters of Busby. It then slopes moderately steep down to approx. 349ft of oceanfront, forested right to the ocean’s edge. The protected waters are good for swimming in the summer. The property has easy access from the internal road on Busby Island which has public beach front access in two places. Anchorage is in Owen Bay. The waters on this side of the island can go almost dry at very low tides and it is possible to walk to and from the Owen Bay road on Sonora Island. Zoning permits the building of a primary residence as well as a secondary cabin (up to 80 square metres), providing lots of options for building and using this property.
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I have listed a new property at 1526 Carrington Bay Rd in Whaletown.
OCEAN VIEW, 2 side-by-side lots totaling 4.69 Acres! Escape the city to this tranquil oasis! If you enjoy gardening, any outdoor activity like kayaking, fishing, hiking, biking or swimming, Cortes Island might be your place. This property is truly a gem! Lots of potential on this gorgeous property. The rustic house could be revived to its former glory or build new. The back of the property includes densely forested area. Conveniently located close to the ferry terminal. Showings by appointment only.
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February in Real Estate

 

Another month went by and we are seeing more listings coming on the market every day. How was February you may ask? Well, here’s a brief summary of each important market. The reason why I am including only these markets is because based on what algorithms show, most people that come to Campbell River and surrounding area, are from these cities across Canada.

Campbell River

February brought additional inventory to the table in the Vancouver Island Real Estate Board (VIREB) area. However, listings are still far below where they need to be to satisfy buyer demand.

“British Columbia is in the midst of a housing crisis,” says Erica Kavanaugh, 2022 VIREB President. “Organized real estate has data-driven insights into potential solutions, which is why BCREA just released a white paper on market conditions in the province.”

In a Better Way Home: Strengthening Consumer Protection in Real Estate, BCREA presents over 30 recommendations to the provincial government on how it can protect consumers today and provide affordable housing in the future. Using extensive data and expert analysis, BCREA focuses on real-life solutions in the paper instead of ineffective and temporary demand-side fixes, adds Kavanaugh. (To read or download the white paper, visit bcrea.bc.ca/whitepaper.)

Benchmark Price for a detached home in Campbell River in February reached: $699,900.

Benchmark Price for an apartment: $333,600.

Benchmark Price for a Townhouse: $514,200. 

Quadra Island
Quadra Island in February had NO new listings, 4 sold (pending) and 1 Sold.  

If you would like more details including “sold prices” go to my website and sign up and log in for free to members only area that will provide that information www.quadrarealty.ca

Cortes Island

February on Cortes Island had 1 listing “pending” and one “sold” but NO new listings.  

If you would like more details including “sold prices” go to my website and sign up and log in for free to members only area that will provide that information www.quadrarealty.ca

Calgary

Thanks to a surge in new listings, sales activity reached a record high for the month of February with 3,305 sales. The rise in new listings caused adjusted inventories to rise above last months’ levels. However, with only one month of supply, the market continues to favour the seller.

The benchmark price of detached homes in the city of Calgary hit $596,400; semi-detached: $461,400; row home: $321,100; apartments: $257,500.

Vancouver

The Metro Vancouver* housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February.

“As we prepare to enter what’s traditionally the busiest season of the year, the Metro Vancouver housing market is seeing more historically typical home sale activity and a modest uptick in home listing activity compared to last year,” Taylor Biggar, REBGV Chair said. 

The benchmark price for a detached home is $2.044,800. This represents a 25 per cent increase from February 2021.

The benchmark price of an apartment home is $807,900. This represents a 15.9 per cent increase from February 2021.

The benchmark price of an attached home is $1,090,000. This represents a 27.2 per cent increase from February 2021. 

Toronto

February home sales were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers, however, remained tight enough to support double-digit price growth year-over-year.


“Demand for ownership housing remains strong throughout the GTA, and while we are marginally off the record pace seen last year, any buyer looking in this market is not likely to feel it with competition remaining the norm. Many households sped up their home purchase and entered into a transaction in 2021, which is one reason the number of sales were forecasted to be lower this year and a trending towards higher borrowing cost will have a moderating effect on home sales. Substantial immigration levels and a continued lack of supply, however, will have a countering effect to increasing mortgage costs,” said TRREB President Kevin Crigger.


The average price for a detached home in area (416) is $2,073,989.

The average price of a semi-detached home (416) is $1,499,489.

The average price of a townhouse (416) is $1,131,809.

The average price of a condo (416) is $822,090 as reported by the Toronto Regional Real Estate Board (TREBB).


If you keep tracking these numbers like I do, you must have noticed that prices keep going up significantly all across the country. Even when you look at a monthly change a lot of the times it’s substantially higher. With immigration policy accepting over 400,000 new immigrants this year, and now with Ukraine conflict I’m sure that number will at least double. We can only speculate that this will drive prices even higher, especially the lower priced units.


Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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I have sold a property at 585 Helanton Rd in Quadra Island.
Whiskey Point building lot! This 1.09 acre property is fully serviced with hydro/telephone/cable utilities available for connection at the property line. There is a shared drilled well and the sellers recently hooked the well up to the pump house, installed an exterior water faucet to the building and ran power to the pump house with a 30amp outlet in place. There is also a connection available to the Quathiaski Cove sewer system. This property is accessed via a private shared driveway off of Noble Rd. There is a driveway to the building site which is a nice level bench featuring partial ocean views across Discovery Passage. The lot boasts a sunny southwest exposure and zoning would allow for construction of a main home of any size plus a secondary dwelling of up to 861 sq ft. Bring your building plans and enjoy peaceful island living today!
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Spring Market.

Spring Market is just around the corner. Historically the busiest time in Real Estate starts in April and goes on until about August. Usually the busiest months are April, May and June but last couple years March was also very busy. 

As usual a lot of people considering a move and thinking about selling are calling their realtors with questions. I would like to address some of the concerns here.

2022 has just started and so far, has been very turbulent already. Rising inflation, potential of rising interest rates, illegal government overreach, covid mandates, high immigration targets and now conflict in Ukraine, to name a few.

Making rational decisions based on facts can get hard because it seems there are many variables that can change weekly.

Why is spring market good for buyers and sellers?

Simply put, curb appeal! Hopefully when spring hits, all snow is melted and spring flowers make your yards look beautiful. The trees are waking up with color and people feel more energized and wanting to move. 

Since the pandemic has started more home buyers decided to reconfigure their lives, priorities changed and also the demand for larger homes with multi purpose rooms have increased. A lot of buyers have moved out of the highly densely populated cities into the suburbs or in many cases even changed the provinces in search for more affordable prices. We are still not clear if the exodus from big cities will continue or once offices open up, people will head back to cities, or if they will continue to work remotely.   

Rising inflation will be higher than we have seen in many years. In order for the central banks to combat the rising inflation they need to raise the interest rates.

Banks saw this trend coming, that’s why they introduced the “mortgage stress test”. The extra 2% buffer needed to qualify for a mortgage gives the bank confidence that borrowers will be able to make payments once the mortgage rates go up.
How does that translate in real life?

Based on a quick Google search, the average Canadian has a $372,000 mortgage. A 5 year closed mortgage of 4.79% will cost roughly $2120/ monthly.

If the mortgage rate goes up by 2% the monthly payments will be $2,560/ monthly

$440 increase in monthly payments.

Today we are facing record low inventory but the demand is still very high.

So, is now a good time to sell?

Every person is in a different place in their lives. Don’t base your decision on fear.  

Generally, best time to sell is during a seller’s market. We are in the strongest seller’s market in a long time. This is by far the best time to sell, based on historical data.

If you are thinking of buying it’s probably not the optimal time but it depends on your circumstance. If you can afford to wait until the market changes to a buyer’s market, then wait. If you must buy now, don’t expect to find any “deals”.

It is important to listen to a few opinions, ideas before making up our minds. The most important aspect is to listen to ourselves, to the feeling we have. Sometimes it’s not all about the money or timing.

My personal litmus test when making big decisions is to ask myself: is it going to hurt someone, does it come from respect, kindness and compassion? Whatever decision I make is a decision I’m willing to live with.

Over the last couple of years, we have followed so called “leaders” telling us how we should live but I really hope we have reached the end of this. It’s time to take charge of our lives and finally return back to kindness and community.  

 


Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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January in Real Estate 

January came and went and I can’t wait to start gardening already. Here is a brief summary that I pulled from Real Estate Boards across the country. They are direct quotes from reports that are available to the public. 

Campbell River

“The new year brought a small inventory bump, but demand is still far outpacing supply in the Vancouver Island Real Estate Board (VIREB) area.

In its recent Market Intelligence Report, the British Columbia Real Estate Association (BCREA) states that with markets so out-of-balance, it will take a substantial decline in demand to return active listings to a healthy state. Further, the Bank of Canada is signalling that it will begin raising its policy rate or “tightening” monetary policy this year in response to elevated Canadian inflation.

Historically, the Bank of Canada’s tightening has led to falling home sales and flattening home prices. BCREA’s model simulations show that the most likely outcome of this round of Bank of Canada tightening will be home sales falling to near their historical averages and for home price growth too moderate. However, any tightening is unlikely to result in significant price decreases because of severely low supply.”

Benchmark Price for a detached home in Campbell River in December reached: $682,800.

Benchmark Price for an apartment: $334,900.

Benchmark Price for a Townhouse: $515,100.

Quadra Island
Quadra Island in January had 2 new listings, 1 sold (pending) and 1 expired.

If you would like more details including “sold prices” go to my website and sign up and log in for free to members only area that will provide that information www.quadrarealty.ca

Cortes Island

January on Cortes Island had 2 new listings.

If you would like more details including “sold prices” go to my website and sign up and log in for free to members only area that will provide that information www.quadrarealty.ca

Calgary

“Thanks to persistently strong sales, inventory levels in the city eased to 2,620 units, the lowest levels seen since 2006. This caused the months of supply to remain exceptionally low for this time of year at 1.3 months.”

The benchmark price of detached homes in the city of Calgary hit $559,800; semi-detached: $439,900; row home: $305,600; apartments $251,200.

Vancouver

“The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver*.

“Our listing inventory on MLS® is less than half of what would be optimal to begin the year. As a result, hopeful home buyers have limited choice in the market today. This trend is causing fierce competition for a scarce number of homes for sale, which, in turn, increases prices,” Keith Stewart, REBGV economist said.” 

The benchmark price for a detached home is $1,953,000. This represents a 22.7 per cent increase from January 2021.

The benchmark price of an apartment home is $775,700. This represents a 14 per cent increase from January 2021.

The benchmark price of an attached home is $1,029,500. This represents a 24.3 per cent increase from January 2021. 

Toronto

“Demand for ownership housing remained very strong from a historic perspective in January 2022. At the same time, listings remained in short supply, resulting in tight market conditions and very strong year-over-year price growth.”

The average price for a detached home in area (416) is $1,886,413.

The average price of a semi-detached home (416) is 1,471,535.

The average price of a townhouse (416) is $1,080,284.

The average price of a condo (416) is $760,643 as reported by the Toronto Regional Real Estate Board (TREBB). 

This year started off with the same issues as last. Not enough inventory across the country. Very strong seller’s markets all across Canada. 

I have been trying very hard not getting too political in my real estate column but what’s happening in my beloved country of Canada is very alarming and concerning. It’s hard to decipher what is the truth anymore. All I know is that we are more divided than ever. It’s hurting families and communities.

Mainstream media have done a very poor job at covering what is really going on, but my biggest concern is how our politicians have decided to respond. Invoking the Emergency Measures Act on a small peaceful fridge group seems like something that would be done in a country that doesn’t believe in a democratic system. I urge you to read more about it, but from several opposing sources. Think for yourself, don’t just repeat what they tell us.  This is important for the future of Canada. How can we invoke kindness, unity and compassion, instead of hate?


Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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Radon (Rn) 101 – Understanding it within the Canadian Housing Context

 

Recently as part of Professional Development Course I took an interesting course and I would like to share with the readers of the Discovery Islander what I learned.

The course was put together by “Evict Radon” which is a volunteer-led Canadian non-profit organization dedicated to solving Canada’s large and allegedly worsening radon-gas exposure problem.

Why should you care about this?

Exposure to Radon may cause serious health issues including lung cancer.

The reason why it’s relevant to Real Estate is that Radon is a health concern and could be seen as a “latent defects” in a real estate transaction. Latent defects are hidden, unknown defects that are not generally discoverable by a prospective purchaser or a reasonable inspection.

In all of my years in the industry I have never seen a deal fall apart due to Radon reading. In fact, I have never even seen a Radon reading disclosed in the Property Disclosure Statement but I suspect that this trend of “healthy homes” will continue to push new ways of red tape. In my opinion, if it’s actually based on science and not on special interest groups and it will make us healthier than I think it’s worth looking into.

What is Radon?

“Radon is a tasteless, odourless and invisible radioactive gas that results from decaying uranium, and is a leading cause of lung cancer.

Radon filters up from the ground and into the air. It can enter buildings through openings where the buildings contact the ground. In the outdoors, radon is diluted to low levels. Inside buildings, however, radon can build up too harmful, concentrated levels. Breathing increased levels of radon increases a person’s chance of developing lung cancer. In fact, Radon is linked to 16% of lung cancer deaths. It is the leading cause of lung cancer in non-smokers, and the second leading cause of lung cancer after smoking.”

Who is at risk?
Everyone is at risk for radon inhalation, and any building that has contact with the ground has the potential to have high radon levels, including houses, apartments, schools, daycares, warehouses and commercial spaces.”

“Evict radon” is asking for participation with their research by testing your home and sending it back to them.

Participation in this research based study can help in better understanding what type of property produces a high or low radon environment and why. It will help in identifying who in society are the most at risk and also help in determining meaningful changes to policy and building codes in the future.

I am naturally sceptical when someone says “this is for your own health” because it usually means it will cost me something. However, I am open minded and passionate about learning so I purchased the test to see what it says about my home. The test cost me $53.99 plus shipping and taxes, total of $78.71.

The way to conduct the test is to place the little plastic device (the radon test) in the lowest level in your home that you spend about 4 or more hours a day. This could be your basement or the main floor. Do not place the radon test in well ventilated spaces such as kitchen, bathroom or areas with open windows or excessive airflow. Do not place them on the floor. The purpose of these tests is to give the research group a more accurate measurement of air quality. Typically, a location on the bedside table is a great place for the test. The test needs to stay in the same location for minimum of 90 days or longer.

If you would like to participate in this study go to the websites provided below. Both of the websites provide abundance of information about Radon, about the test and also mitigation process.


I think it’s a great resource for those of you that are curious or just health conscious. 

The website https://c-nrpp.ca/testing-for-radon/

 

The website to purchase the home test is here: https://evictradon.org/about/

 

Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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 The first market statistics of the year were published late therefore I’m including them in this article instead of the last one. I can’t believe we are mid way through January already!

I’m assuming by now you have all received your BC Assessment and you’re excited at the fact that your home is worth more than 30% and in some cases even 50% more! Your property taxes will not go up by 50%, don’t worry. They will certainly go up though. 

Campbell River

According to the British Columbia Real Estate Association, the supply situation is especially critical in markets outside the Lower Mainland, with one of the worst being Vancouver Island. Even if sales were to return to long-run average levels, total listings would need to nearly double to achieve a balanced market, and the road to doubling those listings lies in building more homes.


“Expanding inventory is the key to affordability, and it requires a coordinated effort from all levels of government and adequate incentives for municipalities to take action,” says Mackay. “The public also has a role to play by being more open to gentle densification in some areas.”


Benchmark Price for a detached home in Campbell River in December reached: $689,000.

Benchmark Price for an apartment: $335,000.

Benchmark Price for a Townhouse: $505,300.

Average sale price in 2021, in Campbell River was $692,906 compared to $537,494 in 2020.


Quadra Island
Quadra Island saw a very busy December with 3 listings sold (pending), 2 sold, 1 cancelled and 1 expired.

Overall in 2021 Quadra Island had 42 listings in total that sold, 5 were cancelled, and 3 expired.

If you would like more details including “sold prices” go to my website and sign up and log in for free to members only area that will provide that information www.quadrarealty.ca 

Cortes Island

Cortes Island also had a relatively busy year with 14 listings sold, 2 cancelled, and 4 expired.

 If you would like more details including “sold prices” go to my website and sign up and log in for free to members only area that will provide that information www.quadrarealty.ca


Calgary

“2021 Record year for home sales”. Thanks to exceptionally high sales in December, 2021 was a record year for home sales. Calgary sales reached 27,686 units this year, nearly 72 per cent higher than last year and over 44 per cent higher than the 10-year average. “Concerns over inflation and rising lending rates likely created more urgency with buyers over the past few months. However, as is the case in many other cities, the supply has not kept pace with the demand causing strong price growth,” said CREB® Chief Economist Ann-Marie Lurie.


The benchmark price of detached homes in the city of Calgary hit $547,300; semi-detached: $432,400; row home: $300,100; apartments $252,000.


Vancouver

Metro Vancouver home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic.

“We begin 2022 with just over 5,000 homes for sale across the region. This is the lowest level we’ve seen in more than 30 years,” Keith Stewart, REBGV economist said. “With demand at record levels, residents shouldn’t expect home price growth to relent until there’s a more adequate supply of housing available to purchase.”

Looking across Metro Vancouver, Maple Ridge saw the largest increase in benchmark prices at 34.7 per cent, followed by Pitt Meadows (29.8 per cent) and Whistler (27.8 per cent).


The benchmark price for a detached home is $1,910,200. This represents a 22 per cent increase from December 2020.

The benchmark price of an apartment home is $761,800. This represents a 12.8 per cent increase from December 2020.

The benchmark price of an attached home is $1,004,900. This represents a 22 per cent increase from December 2020.


Toronto

In December, GTA REALTORS® reported 6,031 sales – a strong result historically, but still down by more than 1,000 transactions (-15.7 per cent) compared to the record of 7,154 set in December 2020. Over the same period, new listings were down by 11.9 per cent to 5,174. The MLS® Home Price Index Composite benchmark was up by 31.1 per cent year-over-year in December. The average selling price was up by 24.2 per cent annually to $1,157,849.


The average price for a detached home in area (416) is $1,698,178.

The average price of a semi-detached home (416) is 1,342,429.

The average price of a townhouse (416) is $997,208.

The average price of a condo (416) is $730,792 as reported by the Toronto Regional Real Estate Board (TREBB).


Prediction for 2022- more of the same. Looks like the biggest problem we currently have is a huge demand for housing but supply of new housing is just not meeting the demand. Being a buyer in this market is very hard, especially if you don't have a $1million dollars for a downpayment. 


In my opinion, the most important drivers of housing crisis are the artificial low interest rates and very high numbers of newcomers to Canada. According to Sean Fraser (Minister of Immigration), Canada welcomed 401,000 new immigrants in 2021.This is the most newcomers in a year in Canadian history since 1913. Federal government is planning to bring 411,000 immigrants in 2022. Just to be very clear- I'm not blaming immigrants for this crisis. This is just a bad policy by the feds. 



Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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I have sold a property at SL 16 950 HERIOT BAY Rd in Quadra Island.
Welcome to Fir Crest Acres, Quadra Island's newest subdivision! Here we have Lot 16, which is 2.72 acres and fronts Fairway #2. This property comes with a partially developed driveway off the secondary common property road, a hook up to the community sewer system, drilled well & underground hydro/telephone and cable services to the property line. Fir Crest Acres is a development by Quadra Links Limited & is adjacent to the Quadra Island Golf Club. This subdivision features 17 fully serviced lots bordered by 10 acres of reserved park land & a 2.8km trail network that will connect with the Haskin Farm Trail. Located a short distance from shops & services or a 5 minute drive to Rebecca Spit. Give us a call to arrange your own personal tour today!
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First and foremost, I would like to Wish you an abundant, joyous and prosperous 2022!


As of this writing, the real estate boards haven’t released the monthly stats for the month of December yet, so I’ll have to write on a different topic as I have originally planned.


By the time you read this article in the Discovery Islander you have probably already received your BC Assessment report, so I’d like to give you some information about what this report is and how it’s compiled.  


BC Assessment is a Crown Corporation created as an independent impartial party to keep consistency and order. The corporation employs 650 full-time staff positions in 17 offices throughout the province. B.C. Assessment's annual budget is just over $77 million.


The value is determined based on property type and which method was used. There are several types of methods but the most common method for residential properties is the “Sales comparison method”. This method determines market value of properties based on most current data of sold units that are comparable in any given area. Land assessments are based on its most reasonable and optimal use which is both physically possible and financially feasible.

For example, vacant downtown land may be valued at its development potential rather than existing use. BC Assessment will consider many factors when determining highest and best use; including zoning, official community plans and recent development trends.


The assessed value of your home is broken down into 2 categories: Land, and Buildings. The report also includes comparable information on your previous year’s value.

Please note that the value assigned to your property is already outdated when you get it in your mail, because it’s based on data of sold units provided by the real estate boards as of July of last year. There are 5 more months of active market that are not included in that report.
 

How relevant is Assessed value during a real estate transaction? This is the second most common question I hear on regular basis from my clients. The answer is as usual: “It depends”.

As a Realtor my job as a listing agent is to sell it to a potential buyer, to their agent and most importantly to the bank that will provide financing to the buyer.


In a sellers market like we have seen over the last few years, the market can seem all over the place with prices. The bottom line is that the market will dictate what a property will sell for, provided that the bank is in agreement. For example, A buyer can be very excited about a property they’d like to purchase. They participate in a multiple offer situation where they have outbid all competing offers. What happens now? Depending if the buyer is a cash buyer or if financing is required, the bank will consider the BC assessment report as a factor in granting financing or in some cases, not.

If the offer is viewed as unreasonably high and not in line with how the market has behaved in the area, the banks can refuse to finance the mortgage for the buyers or assign conditions before financing can be finalized.


The truth is that the BC assessment report is used mostly for tax purposes. The market value of a property is determined by the economic forces of demand and supply. Our biggest issue in the real estate market is very low inventory and a very high demand for properties. There simply aren’t enough homes for sale to meet the demand. That’s what we are being told by the governments and it seems consistent with what we are seeing in the market place.


Is BC Assessment important in the purchase or sale of your home? Yes. It’s considered to determine what the property taxes will be for the current year, as well as qualifying for a mortgage.

In a strong sellers market, it is very common for properties to sell well above BC assessment values. When the market changes into a buyers market, and it will change one day, buyers and lenders alike will be paying much closer attention to what the BC Assessment numbers are.


The most accurate appraisal of your property can be obtained from a property appraisal company or your REALTOR®


If you haven't received your statement yet but you're curious, here's a link https://www.bcassessment.ca/


Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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Every year around Christmas time I get all nostalgic as I remember that one special Christmas, and I would like to share this story with you.   


Most of you can guess based on my name that I must have come to Canada from elsewhere. I came to Canada when I was just a teenager. My parents decided to leave our country of origin just before the Iron Curtain came down. We left a country that was at a verge of collapse and we feared the unknown.


We were different type of immigrants. Not like today’s immigration with money to buy exotic cars and mega houses. We came with virtually the clothes on our backs and a suitcase each, containing mostly books.

We lived in a Co-op in a Vancouver suburb for the first few years. My dad was working with another Eastern European doing odd construction jobs, just to pay the bills.
The first couple years in Canada were very hard. We didn’t know how anything worked, we didn’t know the language at all and didn’t know where to get help. Prior to coming to Canada we spent 3 years in refugee camps in Germany, where things were decided for us. Neo Nazi attacks on our refugee camps were common and constant fear of the unknown motivated us to leave Europe. We were fortunate that our application through the red cross was accepted and we could come to the land of opportunities- Canada.


As a new immigrant, without any English language, my dad had to resign to taking any job he could get. He ended up working with some shady guys that wouldn’t pay him for months at a time. This one specific guy decided not to pay him for about 3-4 months of salary and fired him just before Christmas. My dad didn’t know where to go to deal with this, whom to call, how to feed his family.


Let me tell you, being a new immigrant as a teenager wasn’t all rosy.

Couple weeks, maybe days before Christmas in 1992 we had literally cancelled Christmas. I don’t know if any of you have ever experienced real hunger, real lack of food for days at a time, but that was our situation just before Christmas. My parents must have felt terrible for not being able to prepare our traditional Christian dinner, not to mention presents.   


It was a Saturday morning, the doorbell rang. Since I am the oldest out of the kids, it was my job to go open the door. I opened the door and to my amazement saw several large boxes full of food!!! This was truly a Christmas miracle! There was nobody there, no note, just lots of food. Most people won’t relate to this story, but every single time I share this story my eyes swell up with tears. This incident alone made a long term impact on who I am as a person. To this day we still don’t know who left all these boxes in front of our place. This was a Christmas miracle that I associated with the spirit of Canada.

  

I love Canada because of the people here; Because of these random acts of kindness! The compassion, the deliberate and conscious acceptance of our differences. Our family shares this story every Christmas dinner we have this time of the year, and these are the stories we need to share with our communities.  


As a new immigrant I have experienced first hand the kindness from regular people, from my teachers, neighbours and everyone I met. It made me more sensitive to certain aspects of our society.   


I love Canada because it allows people to be who they are. There’s no discrimination against your beliefs, your religion, or your ethnicity, everyone can travel as they please, and these rights are guaranteed in the Canadian Charter of Rights and Freedoms.

The Charter of Rights and Freedoms is the main reason why our family and many other immigrant families have chosen to come to this great country!

Immigrants feel safe here.


As a proud Canadian my heart breaks when I see how politicians have divided our country recently. Multicultural, and multi faceted, with varying degrees of opinions is a definition of our beloved Canada.

Yes, this country was born on injustice towards first nations and it’s important to learn from history and never to repeat it. Our laws are here to protect us and unite us as people with common values.


I’m not writing any of this to start any debates towards one side or the other. I’m not a conspiracy theorist, or an anti-vaxxer and I don’t feel I need to defend my views… because I am Canadian.


All I’m doing is using critical thinking and stating the obvious, that our country has drastically changed over the last couple years and I find it disturbing that communities across the country are very divided. Even some of our families are divided as well, including my own family.  


This Christmas my wish for Canada and my immediate community- Quadra Island is to come together, in kindness, compassion and mutual respect. The Canada I know, doesn’t discriminate against anybody.


This country is the best country in the world and we should stand on guard for thee. Merry Christmas!



 

Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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November in Real Estate

I can’t believe that it’s already December! A good reminder was the dump of snow we had last night, power outages and cancellation of schools; wow what a day! I almost missed the deadline for submitting this article but I’m very grateful that the hard working people at BC Hydro brought back the power just in time.

It’s statistics time, just like every month, this time for the month of November.

If you have any suggestions for any future articles, please email, text or call me. Your opinion matters to me.

Campbell River

Active listings in the Vancouver Island Real Estate Board (VIREB) area continue to drop, with demand far outpacing supply. Inventory has hit consecutive historical lows for several months running.
According to the British Columbia Real Estate Association, the supply situation is especially critical in markets outside the Lower Mainland. One of the worst inventory situations is on Vancouver Island. Even if sales were to return to long-run average levels, total listings would need to nearly double to achieve a balanced market, and the road to doubling those listings lies in building more homes.

In Campbell River, the benchmark price of a single-family home hit $683,500 in November, up by 30 per cent from the previous year. Townhouse: $485,900.

Quadra Island
Quadra Island saw a busy November with 3 new listings, 3 sold (pending) and one expired.

If you would like more details including “sold prices” go to my website and sign up for free to

members only area that will provide that information www.quadrarealty.ca

Cortes Island

Cortes Island saw only 1 new listing in November, a beautiful almost 10 acre property.

If you would like more details including “sold prices” go to my website and sign up for free to members only area that will provide that information www.quadrarealty.ca

Calgary

Driven by growth in demand for all property types, there were 2,110 sales in November, just shy of the record for the month set in 2005. “Lending rates are expected to increase next year, which has created a sense of urgency among purchasers who want to get into the housing market before rates rise,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, supply levels have struggled to keep pace, causing tight conditions and additional price gains.”


 In November, the detached price reached $542,600 up over 10.6 per cent higher than levels reported last October.


The semi-detached benchmark price rose to $429,800 this month, 8.7% Y/Y.

Row Price: $299,100, Apartment $251,700.


Vancouver

As we near the end of 2021, home buyer demand remains well in excess of long-term averages and the supply of homes for sale continues to decline across Metro Vancouver’s housing market.

“The imbalance between supply and demand, coupled with some buyers wanting to use rate holds on lower rate fixed-term mortgages, is keeping upward pressure on home prices in this traditionally quieter time of year for the market,” Stewart said.


The benchmark price for a detached home is $1,870,000. This represents a 20.8 per cent increase from November 2020.

The benchmark price of an apartment home is $752,800. This represents an 11.4 per cent increase from November 2020.

The benchmark price of an attached home is $990,300. This represents a 20.2 per cent increase from November 2020.


Toronto

Home sales reached a new record for the month of November and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA).

“Governments at all levels must take coordinated action to increase supply in the immediate term to begin addressing the supply challenges of today, and to work towards satisfying growing demand in the future. The GTA remains the primary destination for new immigrants, and is at the centre of the Canadian economy”, said TRREB President Kevin Crigger.


The average price for a detached home in area (416) is $1,807,983.

The average price of a semi-detached home (416) is 1,431,988.

The average price of a townhouse (416) is $981,759.

The average price of a condo (416) is $745,951, as reported by the Toronto Regional Real Estate Board (TREBB).


Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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I have listed a new property at 1364 Hooley Rd in Quadra Island.
DETACHED SHOP, GARDEN, PRIVATE. Gently sloping 0.71acre lot is surrounded by a forest, with nature trails right beside the house. Located in a family oriented, at the end of a no thru road, quiet neighborhood, just a short walk to Rebecca Spit Provincial Park. Short distance to all the services and shopping in Heriot Bay. This beautiful quality home built in 2007 by a reputable local builder J. Toelle Construction Ltd. features 3 bed, 1bath, rancher type home that feels large and bright. It's a must see! Easy to show! Call your agent to schedule a showing today!
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I have sold a property at 935 Haida Ave in Port Alice.
Introducing 935 Haida! Ocean & Mountain views are offered from this lovingly adorned 3 bed & 1 bath home. This 1,800 + sq ft charmer is nestled on a large lot( .224 of an acre) located on a quiet street with a community garden just steps away. The yard is a gardener's delight with mature landscaping to admire (a Camellia that could win awards) & plenty of room to grow a veggie/herb garden. The main entry welcomes you into a large living space where you will enjoy the awe-inspiring Ocean & Mountain views Port Alice has to offer. The main level also features new floors throughout, a stylish new kitchen & a bright dining area. Upstairs opens up into 3 peaceful bedrooms with greenery and views from all the windows and a good-sized bathroom (also accessible from the master bedroom). The basement is mostly finished & offers a great space for a teenager, home office or a lounge area equipped with a wet bar. There are no big projects needed here! Simply view today, make the move & settle in!
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In the beginning of November, the BC NDP government announced their plans to introduce a “cooling off period” in real estate transactions pertaining to resale market starting in spring 2022. Just to clarify, “resale” market is homes that have been previously owned as opposed to pre-sales or pre-construction which are brand new homes or just a “promise” of a home in a few years.  

The title of the news release is: “BC working to strengthen protection for home buyers”. As the title suggests, the legislation is aiming to protect home buyers from risk taken during a home buying process. It’s specifically aimed at risk assumed during multiple offer situations when a buyer faces limited time to make a decision if they will purchase a home or not. It often makes the buyer feel like they were rushed or pushed into the purchase without enough time allowed for the due diligence process.

Every transaction in real estate is driven by emotions and when you are in a very strong sellers market it can be very frustrating to be a buyer. Some buyers may feel the market is not fair towards them because a lot of their offers get rejected.

When your offer finally gets accepted, some buyers may feel buyer remorse. The proposed legislation would allow the buyer to simply walk away from the deal as it would give the buyer 7 days to rescind their offer.


 In theory this seems like a good idea but in practice this may be much more complicated. I would like to explain some of the issues this legislation may cause.

Under the current model, once the offer is accepted and deposit received, all parties are bound to the contract.

The hot sellers market we’ve been having is pushing a lot of desperate buyers to write subject free offers in order to secure a property. This can be seen as a risky move because it leaves very little time for due diligence, financing and inspection.

From the seller’s perspective, a subject free offer is seen as a guaranteed sale. When receiving multiple offers the seller needs to determine who is a serious buyer and who is not. 


The unintended consequences by this legislation could be potentially causing the following issues:


 1.     Buyers may end up writing offers much higher than the list price just to get an accepted offer. Then use the 7 day cool-off period to get financing and if that fails they could decide to walk away from the deal.

 
2.     Buyers may decide to write offers on more than one property at a time knowing they will be able to get out of any transaction. Frustrated buyers may decide to write on 5 different properties for example in the hopes of getting one accepted. What will happen when all 5 get accepted? The buyer will have to walk away from 4 and leaving the sellers with collapsed deals.

 
3.     Serious buyers will have a harder time differentiating their offers. Often sellers accept an offer that may not have the highest price but since it has no subjects it’s more appealing because it’s viewed as a guaranteed sale. With this legislation every offer could be a subject free offer and it will be much more difficult for a seller to pick an offer that will actually follow through with the purchase.

 
4.     In order for buyers to make their offer more appealing, some may decide to include more personal information. Some buyers do this already and disclose information such as bank statements, T4 slips, preapproval letters from banks, personalized letters with photos; all that just to make their offer stand out from the others. I see this as a potential threat of identity theft!

 
5.     This legislation will create more uncertainty for sellers. Knowing that even after price negotiations, inspection and all due diligence the buyer can still walk away, it will be a big problem if the seller needs to make another purchase.  

For example: The home you’re selling gets 2 offers. You accepted the subject free offer because the buyers seemed to be more serious. Now you are ready to write offers on your own purchase. Your offer on the new home gets accepted. Congratulations! Oh, not so fast! The buyer on your home just rescinded the offer they wrote on your home. Now your listing is back on the market and hopefully you have a backup offer. Let’s say the backup offer after a week also falls apart because the second couple decided to write on more properties and your home was not their first choice!

You might end up owning 2 homes for some period of time. This means you’ll need bridge financing. Extra stress, extra costs, extra headaches.


In my humble opinion this legislation will not protect buyers but will cause higher prices and more frustrations for buyers. I hope the government will change their stance on this.  


Contrary to the popular belief; when you have a competent agent that will guide you through every step, most of the time there’s plenty of time to do all of the due diligence you need, BEFORE you write an offer.


Ask me how.

 

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Here are some interesting numbers for you to digest:


According to Statscan website Canada welcomed 184,624 immigrants in 2020, down by almost half from 2019 and the lowest in any year since 1998. The pre-pandemic target for immigration set by Immigration, Refugees, and Citizenship Canada was 341,000.

According to a 2020 survey conducted by Canadian Real Estate Association, 66% of international buyers in were recent immigrants or temporary visa holders. If 66% of all immigrants bought real estate, this translates to at least over 120,000 units.

According to a May report from Scotiabank, Canada has the lowest number of housing units per 1,000 residents than any G7 country, and "the number of housing units per 1,000 Canadians has been falling since 2016 owing to the sharp rise in population growth." Sept 9, 2021

The standalone monthly SAAR of housing starts for all areas in Canada was 282,070 units in June, a decrease of 1.5% from 286,296 units in May. The SAAR of urban starts decreased by 1.8% in June to 251,190 units.


Canada Has Over 1.3 Million Vacant Homes, About 6 Years Of Supply

Canada has one of the highest numbers of vacant homes in the world. The OECD’s latest data shows 1.34 million homes were vacant, or about 8.7% of the country’s 15.41 million homes in total. That works out to nearly 1 in 12 homes, or 6 years of housing supply at the average construction rate from 2016 to 2019. Canada has the fifth most vacant homes of the group of advanced economies.  




I don’t know about you, but I’m not a big fan of any government that treats their citizens like kids. Being a buyer in a market that just simply doesn’t have enough units for sale is very frustrating to say the least. I don’t think changing rules of how real estate is purchased or sold is going to make any difference. I think leaving the market to be free is always the best choice. Immigration numbers are putting a lot of strain on the housing market and this is not sustainable. No, I’m not blaming immigration on this crisis, I’m blaming the government for poor planning.

I propose putting a freeze on immigration for a few years to let the market catch up with the demand.



Choosing a good realtor is like choosing what to buy on Amazon. Way too many choices! How do you choose an amazon purchase? Look at reviews…. Realtors also have reviews online.

Here are mine.

 



Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

 

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The monthly statistics for the month of October just came out and I’d like to share some quotes from them with my favourite Discovery Islander readers.


I understand some people don’t like how these reports are written, based on feedback I have received, because it’s dry facts and numbers. I think there’s some room for that kind of information here because numbers typically don’t lie. Quite honestly I’m a little bored of them myself because we are being told for years now that inventory is historically low and the supply needs to come up. It seems like this is an issue all across the country, not just in our province.

Here are some quotes from the reports published by the real estate boards:

 

 

Campbell River

The predominant theme running through the housing market in the Vancouver Island Real Estate Board (VIREB) area is one of “different month, same issues.”

Buyers continue to face frustrating hurdles caused by historically low inventory, with little relief in sight. Active listings of single-family homes were 46 per cent lower last month than in October 2020 and dropped by 18 per cent from September- as per VIREB Report.

In Campbell River, the benchmark price of a single-family home hit $663,000 in October, up by 29 per cent from the previous year.

 



Quadra Island
Quadra Island saw 1 listing sold (pending completion) and 2 new listings.

If you would like more details including “sold prices” go to my website and sign up for free to the members only area that will provide that information www.quadrarealty.ca



Cortes Island

Cortes Island also saw only 1 listing sold (pending completion) in October.

If you would like more details including “sold prices” go to my website and sign up for free to the members only area that will provide that information www.quadrarealty.ca




Calgary

Calgary Real Estate Board recorded 2,186 sales in October, a record high for the month and over 35 per cent higher than longer-term averages. Year-to-date sales are on pace to hit new record highs and are currently 61 per cent higher than average activity recorded over the past five years and 42 per cent higher than 10-year averages.


“Moving into the fourth quarter, the pace of housing demand continues to exceed expectations in the city,” said CREB® chief economist Ann-Marie Lurie. 


Thanks to gains in most districts, detached home sales improved by 17 per cent compared to last year. The strongest sales growth this month occurred in the North East and East districts, which are the most affordable districts in the city.


 In October, the detached price reached $540,900, up nearly one per cent compared with last month and over 10 per cent higher than levels reported last October.

The semi-detached benchmark price rose to $427,800 this month, nearly nine per cent higher than last year’s levels.


Vancouver


Home sale activity in Metro Vancouver* remained above historical averages in October while the overall supply of homes for sale dipped to levels not seen in three years. “Home sale activity continues to outpace what’s typical for this time of year and the pool of homes available for sale is in decline. This dynamic between supply and demand is causing home prices to continue to edge up across the region,” Keith Stewart, REBGV economist said.


The benchmark price for a detached home is $ $1,850,500. This represents a 20.5 per cent increase from October 2020.

The benchmark price of an apartment home is $746,400. This represents a 9.5 per cent increase from October 2020.

The benchmark price of an attached home is $975,000. This represents an 18.5 per cent increase from October 2020.


Toronto


Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for the month of October. However, the inventory of homes for sale did not keep up with demand. The number of new listings was down by approximately one-third compared to October 2020. Market conditions tightened across all major home types compared to last year, and the annual rate of average price growth remained in the double digits, including for the resurgent condominium apartment segment.


The average price for a detached home in area (416) is $1,784,979.

The average price of a semi-detached home (416) is $1,322,229.

The average price of a townhouse (416) is $1,025,257.

The average price of a condo (416) is $739,647, as reported by the Toronto Regional Real Estate Board (TREBB)



 

Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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Colour of your front door.

First of all, I would like to thank you for all the feedback I have received from so many of you! It’s very humbling and also uplifting that my column is liked by many. The ones that gave me some constructive criticism- thank you and I will consider your suggestions.


My intention is simply to deliver some valuable information for the readers of the Discovery Islander.

I love my local Quadra Island community and would like to figure out how I can serve better, long term.

Recently I read an interesting article claiming that the colour of your front door reveals more about you than you might think. In my former education as a graphic designer I studied the theory and application of colour for advertising campaign communication, for example. I do understand that our non verbal communication is much more important than the actual words.


I’m curious if this article was correct or if it’s just a fashion or design piece that missed the mark. It claims that if the front door of your house are painted certain colour, subconsciously you are trying to communicate to the world and more specifically to the neighbours some hidden messages.

RED- Feng Shui considers red door to be a lucky colour when facing south or southwest. Red is associated with action, making people feel like they are “real go-getters”.

According to Feng Shui:

  • The best color for your south-facing front door is red, as this enhances the Fire element of this direction.
  • The best color for a north-facing front door is blue, as north is the element of water.
  • If your door faces west, the most auspicious color is white because the element that governs this direction is metal.
  • The best color for an east-facing door is green because the element that corresponds to this direction is wood.

BLACK- represents seriousness and glamor. It may appear safe and well protected. People choosing this colour appreciate order, control and elegance.  


Shades of VIOLET are “linked to sophistication”, according to the article.


YELLOW- is linked to optimism and extraversion as long as it is not overused all over the house because that could be interpreted as “irrationality and anxiety”. You are logical, positive and creative.


ORANGE- just like any colour, it really depends on the style of your home. If your home is a high end modern home, orange screams “one of a kind”. You like to entertain and enjoy a good challenge.


GREEN- it is believed this colour indicates prosperity, wealth and peacefulness. You value tradition and ambition.


WHITE- although a Scandinavian design of pastel white could communicate simplicity and cleanliness, it may be also communicating that the home owner is obsessed with keeping the house clean; making some visitors nervous about making a mess.


BROWN/ wood color- natural wood browns convey more relaxed atmosphere. This one is definitely my personal favourite. I love vertical grain fir doors with some darker shades of browns. Gorgeous! Warm, reliable, and stable.


BLUE is linked to calmness and trust. From my graphic design school, I remember this one the most because it is used in the corporate logo design world a lot: Microsoft, IBM, Facebook, HP, Intel, Boeing, Ford, just to name a few. You enjoy peace and value truth.


Is it possible that this article is on to something? I know Quadra has a lot of great local artists which innately understand the importance of colour. It is the poetry of artists.  
“One can speak poetry just by arranging colors well”- Vincent van Gogh

Every house has a unique appearance which is typically a reflection of the family that lives there. Whatever you like may not be what your neighbour likes and it may not appeal to the potential buyers if you’re thinking of selling. Is there a logical strategy to paining your door before selling your home? Maybe. Studies show that careful staging of your home will typically bring a higher price.


If you want to make your home look modern and sleek, designers recommend these front door colors for non-traditional homes:

  • Black
  • Lime
  • Turquoise
  • Eggplant
  • Taxi Yellow
  • Bright Orange

 Best colours for traditional homes:

  • Jet Black
  • Classic Red
  • Slate Blue
  • Emerald Green
  • Dark Gray
  • Pure White


What color is your door? Let me know what you think about this idea of color in comments on my website https://quadrarealty.ca/blog.html  or text me to 604-787-4594


Roman Krzaczek
Quadrarealty.ca
250-285-2141

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September in Real Estate

 


The monthly statistics report just came out for the month of September and it’s been my ritual for a full year now to read all the reports and share a summary with the Discovery Islander readers. When I write these summaries I don’t use my opinions or my own spin on things, I directly quote snippets from the reports, so please don’t shoot the messenger.


I’m re-evaluating if my column is seen as valuable information for readers and am curious if people are actually finding it helpful at all.

I would greatly appreciate to receive some feedback. Please text me at 604-787-4594 or call me at home 250-285-2141. All feedback is greatly appreciated and confidential.

 

 

Campbell River
Vancouver Island Real Estate Board (VIREB) reported for the month of September:

“The housing market in the Vancouver Island Real Estate Board (VIREB) area finished summer the way it began, with historically low inventory and rising prices. Active listings of single-family homes were 47 per cent lower last month than in September 2020, while VIREB’s inventory of condo apartments and row/townhouses dropped by 57 per cent and 48 per cent, respectively, from one year ago.

In Campbell River, the benchmark price of a single-family home hit $653,700 in September, up by 29 per cent from the previous year. In the Comox Valley, the year-over-year benchmark price rose by 31 per cent to $771,300. The Cowichan Valley reported a benchmark price of $755,000, an increase of 34 per cent from September 2020. Nanaimo’s benchmark price rose by 28 per cent, hitting $745,400, while the Parksville-Qualicum area saw its benchmark price increase by 33 per cent to $869,000. The cost of a benchmark single-family home in Port Alberni reached $494,500, a 40 per cent year-over-year increase. The benchmark price for the North Island rose by 49 per cent, hitting $404,100 in September.”


Quadra Island
Quadra Island saw 4 listings sold (pending completion) and 2 new listings.

If you would like more details including “sold prices” go to my website and sign up for free to the members only area that will provide that information www.quadrarealty.ca


Cortes Island

Cortes Island also saw 4 listings sold (pending completion) and 2 listings expired.

If you would like more details including “sold prices” go to my website and sign up for free to the members only area that will provide that information www.quadrarealty.ca


Calgary

 “While sales activity in the fall tends to be slower than in the spring months, the continued strong sales are likely being driven by consumers who were unable to transact earlier in the year when supply levels had not yet adjusted to demand,” said Calgary Real Estate Board (CREB®) chief economist Ann-Marie Lurie. “The market continues to favour the seller, but conditions are not as tight as they were earlier this year.”

Benchmark price of a detached home in the city of Calgary: $537,500 up 10% Year over Year.

Benchmark price of a semi-detached home in the city of Calgary: $424,900 up 8.4% Year over Year.

Benchmark price of a row-home in the city of Calgary: $299,600 up 7.2% Year over Year.

Benchmark price of an apartment in the city of Calgary: $253,200 up 1.2% Year over Year.”


Vancouver


“Home sale activity remains elevated across Metro Vancouver’s housing market while the pace of homes being listed for sale continues to follow long-term averages.

The summer trend of above-average home sales and historically typical new listings activity continued in Metro Vancouver last month. Although this is keeping the overall supply of homes for sale low, we’re not seeing the same upward intensity on home prices today as we did in the spring,” Keith Stewart, Real Estate Board of Greater Vancouver (REBGV) economist said.


The benchmark price for a detached home is $1,828,200. This represents a 20.4 per cent increase from September 2020.

The benchmark price of an apartment home is $738,600. This represents an 8.4 per cent increase from September 2020.

The benchmark price of an attached home is $963,800. This represents a 17.5 per cent increase from September 2020.


Toronto


“September marked the transition from the slower summer market to the busier fall market in the Greater Toronto Area (GTA). Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different. Sales increased relative to August and were also at the third-highest mark on record for the month of September. The average selling price was up both month-over-month and year-over-year.


The average price for a detached home in area (416) is $1,778,928. This represents a 19.5 per cent increase from September 2020.

The average price of a semi-detached home (416) is $1,304,504. This represents a 13.9 per cent increase from September 2020.

The average price of a townhouse is $930,056. This represents a 7.2 per cent increase from September 2020.

The average price of a condo is $744,730. This represents a 8.5 per cent increase from September 2020”, as reported by the Toronto Regional Real Estate Board (TREBB)


 

Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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Are solar panels going to increase the value of my home?

Thank you My Friend for asking me this question the other day, because it inspired me to write about it in the Discovery Islander where I will share my findings with all the readers.

The usual answer I came up with right away is the usual in real estate: “it depends”. I have done some reading and even asked my fellow real estate agents if they had any experience with this.

The answer is not black and white, as expected.


I think it’s a wonderful technology and I am a big fan of trying new ideas. The three most obvious benefits of using this technology is reducing our carbon footprint, less reliance on the grid, and most importantly cheaper utility bills.


I can see an argument in favour of a solar panel system to supplement your power usage. Cost of energy is going up as we have all been noticing over the years. The way that BC Hydro calculates your power bill is a 2 step system, where you pay one rate up to certain level and then anything above that costs significantly more. In winter for example my hydro bill triples, and I think solar panels integrated into my home could potentially reduce that electric bill shock.


The main things to keep in mind:

Cost - Although cost of panels and all the components have come down in price lately, the cost will vary depending on performance, durability and warranty. Other factors such as installation, permits, inspections, and any modifications related to hook up to your existing grid may add up to the cost.


Maintenance- what are the maintenance costs over time. The efficiency of solar panels degrades over time so the older panels will be perceived as less valuable and less efficient, and also will need more maintenance costs.


Efficiency- How efficient is your system, is it really worth installing it if you live in an area like Quadra Island where sunshine is a rare commodity for six months out of the year? I wish we had “rain panels” on the west coast; Or winter grey sky panels!


Location- Do you have the south facing roof top for best exposure of the sun, does your property have enough sunshine? A lot of the houses in our area of Cortes Island, Campbell River and Quadra Island have a lot of trees around the houses. A lot of efficiency of solar panels depend on unobstructed view of the sun. The panels are supposed to be facing the sun at all times for maxium efficiency; not always possible.


Permits- What are the local guidelines and requirements? It’s always best to hire a local contractor that has experience and knows how to plan a successful installation.   


All things considered, is your property going to go up in value if you install a system?


Large installations on valuable homes tend to add more money to the value of the home than smaller and less valuable homes. Some studies indicate that some properties can benefit up to $6000 for every 1kW installed and working systems. Other sources suggest 2-4% increase in property value, but these numbers are based on hypothetical scenarios.


Most of the time however solar panels do not add significant value to most properties. Even off-grid properties may not increase the value because you’re trading the benefits for all the maintenance costs and unreliable service. For example, when temperatures drop down in the winter the panels don’t produce as much electricity.


The way I look at it is, if you can justify paying $30,000 for a system that will save you $100 in monthly electricity bill then go ahead, but don’t count on the value of the house to go up significantly. I think it’s a great idea of “free” electricity but just how free is it. The panels will provide most amount of electricity when your monthly bills are typically the lowest. In the winter when the panels are not quite as efficient unfortunately due to weather, is when you need to have a good source of supplemental power source.


From a numbers point of view if someone had $30,000 to increase the value of a property I would suggest redoing the kitchen first, then bathrooms, windows, insulation, but if all these options have already been covered then consider adding an additional dwelling on your property. Is there a way to build a rental suite?

The return on investment on the $30,000 invested in a rental suite that can be rented for $800 vs $100 saving on your electric bill is a no brainer in my opinion.

  

In conclusion, based on all factors the installation of solar panels is a fantastic way of reducing your cost of power and it’s an extra added feature for a property. Theoretically the more features a property includes the more attractive it could be to certain potential buyers. I remember when hot tubs were a great feature for buyers until that trend went away and now selling a house with a hot tub can be a bit tricky these days. As more information about solar panels become available more people will be able to make more educated decisions.


I personally, would definitely consider buying a brand new house with a renewable energy solution built in from the beginning because I can safely assume that all other systems in the house like insulation and windows have a high efficiency rating. As a buyer of an older home with only certain components that meet the efficiency level, I personally would not feel too thrilled.



The Canadian government is offering home owner grants that aim at helping home owners in saving energy costs. This could be a good first step in doing some research.


https://www.nrcan.gc.ca/energy-efficiency/homes/canada-greener-homes-grant/23441


As you read through that government website you will realize that the promised "up to $5000" grant given to home owners doesn't mean what we think. There are a lot of limitations and conditions that one has to meet in order to take advantage of any of these programs. 



 


Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

http://www.islandphonebooks.ca/


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August in Real Estate

Another month has gone by and it seems like not much has changed in terms of pricing or demand for real estate in BC or across the country for that matter. It seems like things have been slowing down a little bit but the demand is still strong and the supply end is lagging behind. I love Real Estate and it's also part of my job to be informed so I can serve my clients better. Every month when statistics are released I analyze and review what's going on in the market and share all my findings. The sources of this information come from the Real Estate Boards that release it to the media. It's all public knowledge and easily accessible by anybody. All i'm doing is compiling a brief summary of each area to give my clients a snapshot of what's going on in the market. I could expand and provide you with much more information on each sector but I think most people are just interested in how much their home is worth today and also if the market is strong or if the sky is falling. Some of my clients have experienced some market corrections back in the 1980's but I was fortunate enough to witness just a short lived bump in 2009. Do I think we are way overdue for a correction? Maybe. I just don't believe things can go on indefinetely and one day there will be a correction but for now I don't think we are seeing any signs of that. The most current development is the news headline coming out of China regarding the Chinese property giant #evergrande   I will be paying closer attention to this developing story because it's related to global real estate. The company's share price has dropped over 80% from it's 52 week highs. Apparently the company is in financial troubles, and it has as much as 3 times debt as the Lehman Brothers did before the whole thing colllapsed. Will this company pull the global markets down? I personally believe that it may cause big ripples in the markets in the next couple of months. 

 

Campbell River
Slight cooling due to historically low inventory.
Inventory remains extremely tight in the VIREB (Vancouver Island Real Estate Board) area, tracking at a 21-year historical low. Active listings of single-family homes and row/townhouses dropped by 51 per cent from July 2020. In the condo apartment category, inventory decreased by 60 per cent from one year ago. Based on the demand VIREB (Vancouver Island Real Estate Board) is seeing, there is no doubt that sales would be higher if there were sufficient inventory.

In Campbell River, the benchmark price of a single-family home hit $639,100.

The British Columbia Real Estate Association (BCREA) forecasts that market conditions may begin to even out somewhat by the end of the year. However, it would take approximately 2,500 new listings in the VIREB area to create an actual balanced market if activity continues at this pace. The Vancouver Island Real Estate Board (VIREB) in August saw sales of 450 single family detached properties compared to 531 in June.

 

Quadra Island
In the month of August we saw two listings “sold”, two were “pending” and three “new” listings. The lowest price was a 10acre empty lot that sold for just under $400,000. The highest Sold price was an Ocean front property in Drew Harbour that sold for $860,000

Cortes Island
August showed some activity on beautiful Cortes Island as well, with one sold listing, one pending and two new listings. The only sold listing was a 10acre lot with buildings that sold over $800,000.

 

Calgary

Market continues shift toward more balanced conditions after torrid start to the year.

“Sales have far exceeded expectations throughout most of the pandemic, driven mostly by demand for detached homes. At the same time, supply could not keep pace and conditions shifted to favour the seller, something that has not happened in over six years,” said CREB® chief economist Ann-Marie Lurie.

Detached Homes prices remained relatively stable compared with July figures, but were more than 10 per cent higher than levels recorded last year. Price gains continue to vary significantly based on location. Prices have risen across all districts relative to last year, but prices trended down In the City Centre, North West, West and South districts compared to last month. Detached homes benchmark price was $538,700

The semi-detached homes benchmark price was $430,000. Despite strong price gains across all districts, prices still have not recovered from previous highs in the South, North East and City Centre districts

The row benchmark price in August pushed above $300,000, eight per cent higher than last year.

Apartment benchmark price $253,300 nearly 16 per cent lower than previous highs.


Vancouver

While home buyers have remained active in Metro Vancouver* throughout the summer, the supply of homes for sale has declined steadily since June.

Last month’s sales were 20.4 per cent above the 10-year August sales average.

“August was busier than expected, and listings activity isn’t keeping up with the pace of demand. This is leaving the market under supplied.” said Keith Stewart, REBGV economist.

The benchmark price for a detached home is $1,807,100. This represents a 20.4 per cent increase from August 2020

The benchmark price of an apartment property is $735,100. This represents a 7.6 per cent increase from August 2020

The benchmark price of an attached home is $952,600. This represents a 16.5 per cent increase from August 2020

 

Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca


#quadrarealty #realestatestats #romankrzaczek #campbellriver #cortesisland #quadraisland

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When is the best time to buy Real Estate?


Many of you have heard the way-too-often overused cliché “LOCATION, LOCATION, LOCATION”.

I believe “TIMING, TIMING, TIMING” is much more important for any investment and very strongly in Real Estate.


Yes, you can find a great location but if your timing is off, then maybe you’re not getting the best deal. What constitutes a “good deal” depends on individual perception of value received. Most investors will calculate what a property is worth by the amount of money they can rent it out for and costs to run the property such as maintenance, insurance, taxes and vacancy rate.

When someone is buying a property where they want to live sometimes these basic principles go out the window. You get excited about the property and you’ll do whatever it takes to get it. I believe in the power of attraction and how important it is to dream big, but I also understand that home ownership can come with unexpected costs and as a buyer you must consider them.

Based on statistical patterns best time of the year to buy a home is in January. Typically, there are not many buyers actively looking to buy a home. I want to emphasize “typically”, because the health crisis has caused some abnormalities in the usual statistical patters. This year in January for example we saw a huge surge in sales. A lot of listings available in January are homes that didn’t sell before Christmas and the sellers might be more motivated and flexible with the price.

February onward usually sees more active listings before the spring market madness starts. The logic behind buying a home during the spring is to get possession during the summer months when kids are on summer vacation.


Spring markets are busiest, most competitive and most expensive time to buy. It’s also easier for sellers to make their home look more presentable; with curb appeal and more natural light outside some homes are just more appealing.

Prices normally peak in June and July when the demand is the most active, with lots of active listings and lots of buyers. As the school year approaches, in August and September, the number of active listings is reduced.


Into the winter months there is a higher probability of prices dropping because not many buyers are looking. In a normal year December is very slow for sales and in my opinion it’s the best time to be a buyer.


Buy a home when demand is low. If at all possible, buying a home in a “buyer’s market” is your best strategy. Prices are low and there are lots of homes for sale. 

A “seller’s market” is the opposite, where the inventory is low but the demand is high. This is the current market with multiple offers being so prevalent and the skyrocketing prices, it’s very frustrating to be a buyer.


Every person has a different situation, finances and circumstances, that’s why timing the market could proof to be a difficult task. During the most disruptive times there are people that make enough money to go to space for a few minutes while others lose everything. It’s a matter of timing and planning ahead of time.

Planning to purchase a home? I would love to help you, starting with getting you connected with a financial planner and a mortgage broker. Take your time, plan, prepare your finances and don’t allow your emotions to control you. Hire me and I’ll guide you through the process.


If you have any suggestions or feedback…or have any topics you would like me to cover, please let me know. I would love to hear from you.


Roman Krzaczek Realtor
Quadrarealty.ca
250-285-2141

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10 Things to be done to your homes before fall starts

I can’t believe the summer is nearing the end. Although I always enjoy the hot summer days a bit of rain would be welcome even by sun worshipers like myself. In a couple of months, I will surely regret these words but in the mean time I like to make sure my home is ready for the rainy season. I would like to share with you some tips on what is important before the rains come to avoid unpleasant surprises. Perhaps they will help you slowly start mentally preparing for the change of season.

Gutters
We are all used to them working properly and draining lots of water. Over the years however most people forget about checking them for damage or just a simple cleanup. When gutters are clogged, water can seep through into the house and cause major damage. A simple cleanup and a visual inspection can save you a lot of grief and possibly a lot of money.

Roof
Inspection of the roof is much easier to be done in the summer months before the rains start. If there’s any repairs needed to be done now is probably the best time.

Windows and doors
Check the exterior of your windows and doors. They may need re-calking.

Insulation
Take a look in your attic if there’s any holes made by critters. Sometimes squirrels or birds get inside your attic and build nests out of your existing insulation. Inspect and seal any possible points of entrance.

Chimney and wood stove.
Now would be a good time to inspect your wood stove, clean it out and do any repairs if necessary.

Fix any cracks in your driveway.
If you have a concrete driveway and it has cracks in it, this is the best time to take care of that. When winter comes it will be very difficult to get the right conditions to fix it.

Get your composter ready.
This is a big one for the gardeners like myself. There will be a lot of “greens” and soon enough “browns”. I like to make sure I have enough space for all that goodness.

Test winter equipment
Luckily we didn’t have much snow last year but it’s always a good idea to check your snow blower if it needs any repairs or maintenance.

Change your furnace filters
Another thing in your house that might be costing you more money than it should be. If your filters are clogged, it's harder to keep your home at the temperature you want it to be which will increase your heating bills. Clean these filters monthly, not just before the fall, for optimal performance.

Last but not least Change your batteries. Carbon Monoxide and smoke detectors are very important devices that should work properly.

This might look like a long list but there is still a lot of time. If you are a procrastinator or are busy with other more important projects this could be a good to-do check list before September ends.


If you have any suggestions or feedback…or have any topics you would like me to cover, please let me know. I would love to hear from you.


Roman Krzaczek Realtor
Quadrarealty.ca
250-285-2141

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I have sold a property at 1378 Heriot Bay Rd.
WATER FRONT LIFESTYLE. Facing the beautiful Rebecca Spit Provincial Park, Quadra Island. This property offers you a dream that comes around very rarely. There have been no houses for sale in this area in many years. Spectacular views, close to stores, close to Cortes Island ferry in Heriot Bay. Bring your renovation ideas or just enjoy the outdoorsy lifestyle in the most beautiful area in the world. Kayaking, hiking, whale watching, fishing, biking, or just sitting on the beach and enjoying your coffee. The possibilities are endless. Great small town community. A DREAM COME TRUE for someone trying to get away from the busy city life to enjoy Nature.
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July in Real Estate:

Busy long weekend came to an end and the sun keeps smiling. I can’t believe what I’m about to say… but I miss the rain (for my garden). My garden is feeling the stress of super hot sun but I’m still loving the heat and enjoying the time spent at the lakes.

July was a busy month across the board, maybe not as busy as we have seen recently but that’s probably due to the stress test changes and also summer vacations. A lot of people are taking some time off and enjoying the summer.

Campbell River

The Vancouver Island Real Estate Board reports that;

“Inventory remains extremely tight in the VIREB area, tracking at a 21-year historical low. Active listings of single-family homes and row/townhouses dropped by 51 per cent from July 2020. In the condo apartment category, inventory decreased by 60 per cent from one year ago. Based on the demand VIREB is seeing, there is no doubt that sales would be higher if there were sufficient inventory.”

VIREB’s heated housing market continues to impact prices, which continue to increase throughout the board area.

The benchmark price of a single family home in Campbell River area is 639,100 up from $588,800 just 3 months ago.

Apartments in Campbell River area benchmark closed the $336,300 mark and Townhouses $465,700.

“Unless demand drops significantly or more housing supply comes online through new construction, the needle for VIREB’s inventory situation will not move by much,” states Mackay. “BCREA, VIREB, and other real estate boards continue advocating with policymakers at the provincial and regional levels to speed up the development process so that municipalities can expand supply more quickly to meet demand.”

In the month of July we saw:

Quadra Island had four new listings, and five pending sale (received offers and are waiting for completion)

Cortes Island saw one pending, one cancelled and two new listings.

Seems like a very busy month in such a small market.



Calgary

Price growth slows as supply to demand balance improves.

July sales totaled 2,319 units, which is well above long-term averages and the best July on record. The pace of sales growth has eased over the past few months, but so too has the pace of new listings growth. This has helped prevent any further monthly gains in inventory levels, and while overall supply remains slightly higher than last July, it’s mostly due to gains in apartment and row product.

The benchmark price of a detached home in the city of Calgary is $539,900, apartments: $254,100, semi-detached: $428,400 and row houses: $299,600.


Vancouver

Steady sales, reduced listings and virtually unchanged home prices

“Moderation was the name of the game in July,” said REBGV’s economist Keith Stewart. “Home sales and listings fell in line with typical seasonal patterns as summer got going in earnest in July. On top of moderating market activity, price growth has leveled off in most areas and home types.”

“Low housing supply remains a fundamental factor in Metro Vancouver’s housing market,” Stewart said. "Home sales remain above average and we’re starting to see price increases relent as well. Going forward, the supply of homes for sale will be among the most critical factors to watch. This will determine the next direction for house price trends."

The benchmark price for a detached home is $1,801,100. This represents a 21 per cent increase from July 2020 and is unchanged from June 2021.

The benchmark price of an apartment property is $736,900. This represents an 8.4 per cent increase from July 2020 and a 0.1 per cent decrease compared to June 2021.

The benchmark price of an attached home is $949,400. This represents a 16.7 per cent increase from July 2020 and a 0.3 per cent increase compared to June 2021.

TORONTO

JULY NUMBERS SHOW STRONG DEMAND CONTINUES FOR HOME OWNERSHIP IN GTA

“Demand for ownership housing has remained strong despite a pandemic-related lull in population growth. Of specific note is the condominium apartment market, which has seen a marked turn-around in 2021 with sales up compared to last year. First-time buyers, many of whom were slower to benefit from the initial recovery phase, remain very active in the market place,” said TRREB President Kevin Crigger.

“There is a huge backlog of people seeking citizenship or permanent resident status in Canada. A large share of these newcomers will ultimately choose to call the GTA home. This means ownership and rental market conditions will remain tight with upward pressure on prices for the foreseeable future. Policy makers at all levels must pursue a coordinated effort to bring on a greater diversity of supply in major metropolitan areas,” said TRREB CEO John DiMichele.


Average Price of a detached home in area (416) is $1,695,541, semi-detached: 1,285,347; Townhouses: $926,437; and the average price for a condo: $700,061


It seems that demand across the country continues but maybe just at a slower pace. What would cause such a slow down? Most likely in my opinion the biggest factor behind this trend is the Mortgage stress test that has been recently introduced. The government decided to step in and cool down the overheating real estate market. One of the tools that can be used is the amount of credit that consumers can access. To me, based on the current market conditions statistics there’s a clear co-relation between the stress test and the slow-down. Another big factor that I have also witnessed in the daily life of a realtor is that some buyers are just tired and put the whole idea of buying a home on hold for now. Both buyers and sellers realize that we’ve been stuck at home for too long and might as well just enjoy the summer months and spend time traveling and spending it with your family and close friends. I wonder what will happen with the markets when the new lockdown happens. It appears that it’s just a matter of time before new measures are introduced to control the public. I understand the severity of the health crisis but I don’t always trust what the media feeds us. I would rather enjoy my garden and focus on my family.


 

Are you thinking of selling your home? Call me for a free home evaluation.

Roman Krzaczek REALTOR ®

Home number: 250-285-2141

Quadrarealty.ca

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Renovictions

As a Realtor sometimes I get to participate in some very complex problems and issues arising from tenancies. I have some experience from being a landlord myself and have helped my clients in guiding them to get proper resources in dealing with tenancies. I am not a licenced property manager so I’m not an expert in this field that’s why I strongly recommend and warn you to do your own research before you commit to being a landlord. Whether you are a tenant or landlord it’s very important to know the rules of the game. My assumption is that majority of landlords are honest, decent and responsible people. I also assume the same great qualities apply to the tenants. Of course there are small groups of people that play outside of the norm and don’t play by the rules and that’s why it’s important to familiarize yourself with the rules of the game if you intend to participate.
 

I understand that the tenancy act appears at first to be very complex but when you look deeper it’s actually very easy to understand and there are simple rules to follow based on the principle of “just do the right thing”


Here’s a brief summary of new rules that came into effect on July 1, 2021.


How can a landlord increase rent? Currently due to factors such as current health crisis the government has put a freeze on rent increases until December 31, 2021. So legally you can’t increase rent this year. The maximum allowable rent increase for next year will be publicly announced at the end of the summer.


What if you evicted your tenant so you can do some renovations and then rent it out to a new tenant at a higher market rent? This is referred commonly as a “Renoviction”. This is a very hot topic and I feel that it needs to be analyzed in depth to make sure you understand it clearly.


As of July 1, 2021 under new legislation if a landlord wants to end a tenancy for extensive renovations the landlord will have to apply for “order of possession” from the Residential Tenancy Branch. There will be a process of dispute resolution where an arbitrator will decide if ending the tenancy is the only way to complete this work.

The most important factor is to prove that the renovation you’re trying to do will require the tenant to move out. Simple replacing of kitchen cabinets, installation of flooring, or painting is considered cosmetic repairs and do not constitute as “extensive” repairs.

“Section 49.2 of the Residential Tenancy Act establishes four basic requirements to end a tenancy for renovations or repairs:

  1. the landlord has all the necessary permits and approvals required by law and intends in good faith to renovate or repair the rental unit(s) 
  2. the renovations or repairs require the unit(s) to be vacant
  3. the renovations or repairs are necessary to prolong or sustain the use of the rental unit(s) or the building where the rental unit(s) are located
  4. the only reasonable way to achieve the necessary vacancy is to end the tenancy agreement

If the above requirements are met, a landlord can apply to the RTB (Residential Tenancy Branch) for an order of possession to end a tenancy. There will be a hearing where the landlord and tenant can provide their evidence and the arbitrator will make a decision. 

After July 1, 2021 the only reason a landlord can serve a Four Month Notice to End Tenancy is:

  1. convert the residential property to strata lots under the Strata Property Act;
  2. demolish the rental unit;
  3. convert the residential property into a not for profit housing cooperative under the Cooperative Association Act;
  4. convert the rental unit for use by a caretaker, manager or superintendent of the residential property; or
  5. convert the rental unit to a non-residential use.”

The violation of laws by the tenant under normal circumstances could result in termination of lease and/or losing your damage deposit. In my next article I would like to address this in more detail.
The landlord has more to lose however because if the landlord is found in violation of rules can face a penalty of up to 12 months of rent to be payable to the tenant. That can be a big hit to some people, and sometimes it’s the only way of getting rid of an undesirable tenant.

There is no way around rules and some of the most common scenarios won’t be acceptable, like:

  1. A landlord ends a tenancy to occupy the rental unit and then changes their mind.
  2. A landlord ends a tenancy to renovate the rental unit but did not adequately budget for the renovations and cannot complete them because they run out of funds.

If you need further information I highly recommend going to the government website (link provided below). It contains all the information that you need. https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies

We are in a housing crisis and avoiding the subject won’t solve the problem. Shelter is the basic human need as shown in the Maslow’s Hierarchy of needs, and I feel it’s very important to treat it as such.
I strongly believe that education and free information is a step in the right direction. The Residential Tenancy Branch offers a lot of help to both tenants and landlords before problems arise, I highly suggest you contact them directly. They are very helpful and professional.

Being a landlord is hard because you bought an investment that cost you a lot of money and in some circumstances the financing for your home was subject to you having a rented unit to supplement your mortgage payments. You are financially, emotionally and physically attached to your property. This may be just an investment but you want to rent it out to someone that will take care of it as much as you would. This is a trap that will get every landlord in trouble. Tenants don’t have these bonds as you do and having the expectation of tenants to care as much about your property as you do, is simply just not realistic. Spare yourself some nerves, tears and disappointments. Just don’t expect your tenant to be like you. Most tenants are very decent people and they will treat your property as what it is, YOUR property.
Not every tenant is a low-life with a low paying job, or a young person that is starting out in life. Today a lot more people are choosing to be tenants. Being a home owner when you look just at the numbers have been wonderful and a guaranteed “win” especially if you base your opinion on the last 40 years or longer. The question remains if this trend will continue and what is the true cost of owning a home today. Don’t get me wrong, I strongly believe that owning is better than renting BUT not always, and not in every market. I believe in analyzing your budget, having long term goals and planning your future carefully. The constant balance between supply and demand of housing is what dictates the prices and also vacancy rates of rental units. We have been very fortunate that the constant influx of new immigrants and high demand for housing has been very favorable to home owners. As long as this continues things will be just peachy.


If you have any questions or suggestions, please don’t hesitate to contact me directly at home at

250-285-2141 I’m here to serve you better.

Roman Krzaczek REALTOR ®
Quadrarealty.ca

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June in Real Estate:

Craziest thing happened: a client of mine wanted to invest in Bitcoin. The bank loaned him $320,000 of his $400,000 purchase; he just had to come up with the $80,000, and then he owned $400,000 worth of Bitcoin! Can you believe they loaned him the money at 2.75% interest?! Crazy! His monthly payment on that loan with fees was about $1600, but then he rented the Bitcoin out to people for $2,400/mo, and made $800 each month and still got to keep his Bitcoin!! Even though he didn't own it free and clear, he was still able to charge other people to use his Bitcoin every month! 


At tax time, he was able to write off any interest he paid on his taxes, and depreciate his asset on his taxes to wipe out any gains, and he even got a 100% guarantee that there will be a demand for his asset as long as he owns it!!


Can you believe that; an asset that goes up in value AND that allows you to cashflow while you hold it??


Oh wait, I misunderstood his story. That wasn't Bitcoin, it was Real Estate... 

You can’t do this with any other asset class. Real Estate rules!


CAMPBELL RIVER

The Vancouver Island Real Estate Board’s latest report indicates that “inventory is rising slightly, which opens up a few more opportunities for buyers, but it is still historically tight on Vancouver Island. Although active listings of single-family homes dropped by two per cent from May, condo apartment and row/townhouse inventory rose by 16 and 23 per cent, respectively. The British Columbia Real Estate Association (BCREA) forecasts that market conditions may begin to even out somewhat by the end of the year. However, it would take approximately 2,500 new listings in the VIREB area to create an actual balanced market if activity continues at this pace. More inventory is certainly good news for buyers, even if the increases are slight,” says 2021 VIREB president Ian Mackay. “We’re also relieved to see a few more conditional offers again, which means the frenzied fear-of-missing-out mentality is tempering a bit.”

In Campbell River, the benchmark price of a single-family home hit $627,600 in June, up by 29 per cent from the previous year.

This morning- July 05, as I write this article, I checked the MLS to see what’s happening locally (as I do every single day). I’m noticing lately more and more price reductions on listings in our area. This could be an indication of the market finding its new normal. The price decreases are minor however and are usually used to refresh the listings and get more buyers’ attention.


METRO VANCOUVER

According to the Real Estate Board of Greater Vancouver monthly report for June,
Metro Vancouver’s housing market sets a steady, calmer pace to begin the summer season.
“Metro Vancouver’s housing market continues to experience strong seller’s market conditions, although the intensity of demand has eased from what we saw throughout most of the spring,” Keith Stewart, REBGV economist said. “The past two months have shown a market that’s shifting toward more historically typical conditions.” This is making multiple offers less common, allowing subjects to be seen on offers more frequently again, and is making new price records less likely.”

Sales of detached homes in June 2021 reached 1,262, a 45.7 per cent increase from the 866 detached sales recorded in June 2020. The benchmark price for detached properties is $1,801,100. This represents a 22 per cent increase from June 2020 and is virtually unchanged from May 2021.


CALGARY

Calgary’s housing market is showing few signs of letting up, as sales reached 2,915 units in June – a record high for the month. “It is taking time for supply to catch up with the demand in the market,” said CREB® chief economist Ann-Marie Lurie.

“Through the early spring market, many buyers did not have a lot of choice, but the recent improvements in supply are providing more options for those purchasers and supporting the strong sales we continue to see in June. At the same time, gains in inventory are taking some pressure off the market as it starts to trend towards more balanced conditions.”

The unadjusted detached benchmark price totalled $537,200 in June, nearly one per cent higher than last month and 13 per cent higher than last year’s levels.


TORONTO

The Toronto Regional Real Estate Board hasn’t posted their monthly report yet for some reason so I can’t provide you with accurate information but from what I’m reading and talking to agents in the region the same trend is happening there as well. In fact, the market slowdown has started in Toronto 3 months ago and it’s been gradually showing the same across the country.



Why is the market cooling? In my opinion, it is most likely the fact that the economy and travelling is opening up again and a lot of people don’t want to spend time and money on moving. A lot of people will choose to enjoy a trip to places like Quadra Island and Cortes Island to enjoy the tranquil nature and… no traffic (except the ferry traffic). I feel blessed and fortunate to live here during these difficult times. It has given me a renewed perspective on life and the appreciation for the little things in life. I appreciate all the tourists that are coming to visit our “rock” and support our small businesses. It is truly helping our community and I’m sure I’m not the only one thinking that. If you are a visitor here to our beautiful Quadra Island- Thank you! We appreciate YOU.

If you are interested in information about real estate in the area, contact me directly at home @ 250-285-2141. I network with lot of agents across the country and in the USA. I can help you to connect with great agents in your area and make your move easier. Visit my website for lots of interesting resources: https://quadrarealty.ca/


Enjoy the sun everyone!


Roman Krzaczek REALTOR ®

Home number: 250-285-2141


for more articles visit 

the "Discovery Islander" local paper where I write an article every two weeks. 
http://www.discoveryislands.ca/news/

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Why hiring a REALTOR will make your life easier.


I believe in education and sharing information freely for the benefit of the public. A lot of people seem confused or just don’t understand what we actually do and I would like to shed some light on the topic.


What do real estate agents actually do?


We write contracts, negotiate a price and terms for our clients, advise/ give opinion, we constantly educate ourselves and our clients. We spend nights worrying and re-reading contracts, constantly anticipating what could go wrong and how to protect our clients if it does. We do a lot of free work and are the last ones in a transaction to be paid. The assumptions of big egos, big paycheques and fancy cars often take the centre stage; however, there are a lot of activities happening behind the scenes the public doesn’t see.


Our license is issued by the province of BC titled “Real Estate trading services”. The license needs to be renewed every 2 years upon completion of several mandatory Professional Development courses, be in good standing (no criminal record) and of course pay the fee.

Many people will be surprised, even some agents, that being a real estate agent requires much less sales than most people assume. As agents, we owe our clients a Fiduciary Duty which means that legally we must take our client’s interest as the highest priority, even if that means a loss of our own earnings. When you go to buy a car for example, the sales person owes you NO duty to protect your interest. The sales person will simply match your needs with their inventory.


When you hire an agent, the agent is working for you to make sure you can buy or sell your property in a safe and legal way and that you know as much about the property as possible.


There are 4 basic duties Realtors owe to the public:


Loyalty- a realtor’s duty to their client is to be loyal to them and avoid conflict of interest. If your listing agent tells you he/she already has clients to buy your house, it may sound enticing but it’s a big red flag. You have to wonder who the agent works for. Are they working for you to get the best deal or the buyer? The agent is supposed to be working only for your benefit.


Full Disclosure- your realtor is supposed to always tell you EVERYTHING that he/she knows about the transaction, the property and the market.


Avoid Conflict of Interest- this can be very tricky especially in a small community when an agent knows both the seller and the buyer. The question is always the same- who is the agent working for. Recent rule changes allow agents to represent only one party to the deal. It is easy to get carried away as we naturally want to help people. However, when I am selling a property for a client and a buyer calls me to ask if I can show the property, I will advise them to arrange the showing with their own realtor and I will make sure they understand who I represent OR do what my client advises.


Confidentiality- When we represent a seller or a buyer, same rule applies. We cannot share information about our client’s motivation or anything private unless our client allows us to do so in writing. Even after the transaction is complete, private information should remain confidential.

In our industry there is now more than ever before more emphasis on ethics and protocols to protect the public from predatory behaviours of agents. For example, we are not allowed to ask you any personal questions until we give you 2 forms called “Disclosure of Representation” and “Disclosure of Privacy”. It makes it awkward and unnatural as a conversation starter but in order for us to be fully compliant with the rules we have to do it that way. Both of these forms basically inform you of all the things I have just written in this article. 

Any agent these days needs to be also connected and fluent in technology. According to statistics, 90% of buyers find their new home online. The majority of marketing of your home is done online and virtually all the due-diligence is done online as well.
When hiring an agent, think about how busy the agent is and how much time they will dedicate to you. How many clients is the agent working with right now? Do you want to be the 4th client or do you deserve to have the full attention of your agent?

Don’t be afraid of your Realtor! Ask us questions, talk to us. Vast majority of agents are good people that very much care about their clients. I obviously can’t speak for all agents out there but I know a lot of agents and they all show a high degree of morals and caring. What attracted me to this industry is that I can help more people with some of the most important investments of their lives and it is an honour to be part of the process.


Quick Market update:


Vancouver is seeing a market shift already. When a listing is priced well it will show fairly quick but the average days on market has gone closer to 35 days now. In some cases, sellers receive no offers in the first 2-3 weeks. I was convinced that the hot market would continue into the summer and in some regions it's still the case. Locally in the Campbell River area or the North Island things seem to continue to sizzle. Quadra Island listings are mostly over a $1mil these days. Not much is available for less than a million.



If you’re thinking of selling, NOW is probably the best time. If you have any questions or suggestions, please don’t hesitate to contact me directly at 250-285-2141. I’m here to serve you better.

Roman Krzaczek

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I have sold a property at 2 620 Helanton Rd in Quathiaski Cove.
Custom built, Meticulously finished gorgeous home with views. It feels like you're in a treehouse among the treetops soaring with eagles. This bareland strata lot is located in the prestigious Whiskey Point Estates on Quadra Island. 0.50 acre lot, built in 2018, with 1960sf of artistic design and functionality. A Must see.
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Sales is as much of an art as it is science and I love both sides of it. The art aspect is being able to use more of your intuition to figure out solutions and the science part is when we ask relevant questions.
What I find very interesting is the study of human behaviour on why we behave in certain ways. When it comes to purchasing just about anything, we fully engage with our emotions. That’s why stock brokers always repeat to stick with your plan, have a sell-stop or stop limit and be disciplined with your strategy for that very reason. It’s nerve-racking to buy a stock you know for sure will go up and watch it go down. If you are a geek like me who loves to analyze numbers, you will appreciate the next bit of this article.

What is the number one reason home buyers are moving farther away from the big cities? It surely can’t be because they want to spend more time in traffic.

This health emergency we are still facing has sure tested my own believes in what is truly important to me and many other people I know. There was a case study done in the US based on 1200 respondents who plan to buy a home within the next 12 months. The study was to analyze the most frequent keyword searches on realtor.com website from January through May 31, 2021. The results indicate the most important home feature for buyers are:

 #1- a quiet location, #2- updated kitchen, #3- garage and large backyard, #4- outdoor living areas, #5- spaces for pets. Additional square footage of flexible space that can be reconfigured for different needs has also risen in importance.

The hyper competitive market has left a lot of buyers re-evaluate their needs as well. Fewer people have searched for short commutes and smaller homes. Seems like people don’t care as much about “remodeled” homes, granite countertops and media rooms. The least searched key words were man caves, pools, guesthouses, in-law suites and new construction. My guess is that most of those are probably driven by the cost of housing.

One common threat that’s clearly visible is that more buyers are looking to relocate to live closer to their families, or even move into the same household together. About one fifth of buyers are seeking to share their homes with members of their extended family.

Numbers don’t lie (if the study is done right and there is no hidden agenda) that’s why it’s a great measuring stick to be able to compare relative items together. I’m not sure if you’re aware but there’s a pretty cool tool online called “google trends”. Just go to this website: https://trends.google.ca/trends/?geo=CA

 I’ve used it for many years to see trends in google search patterns. Everything we do online is recorded and some of that data we can access for free.  If you type in Quadra Island for example you’ll see that most searches on google about Quadra island came from geographical location of British Columbia, second was Alberta and third was Ontario. Most searched topics about Quadra Island was: camping- about 80%; followed by /my favourite/- REAL ESTATE (40%). You can also add search criteria to see how Cortes Island compares with Quadra searches. Same geographical locations are shown in different order #1 BC, #2 Ontario, and #3 Alberta. Unfortunately, not many people are searching Real Estate on Cortes Island.


I hope I didn’t bore you with numbers but when you love what you do for a living like I do, you’ll constantly try to find ways of improving and learning.

If you have any questions or suggestions, please don’t hesitate to contact me directly at 250-285-2141. I’m here to serve you better.

Roman Krzaczek

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What a pleasure to show this beautiful home! This is a listing I have just in Whiskey Point Estates. It's a custom built house that has everything you can imagine. It's located at the top of a hill as if it was a treehouse. You can enjoy your morning coffee on the patio and watch eagles fly above in the sky. Beautiful views of Campbell River and some areas of Quadra Island. This home is only 3 years old, so naturally it comes with a warranty. Photos don't do it's justice! It's probably one of the most beautiful homes on Quadra Island. It's a home for an artististic soul that needs tranquility. It's a must see!
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Dear Quadra community,

Being a new resident to this beautiful island I would like to take this opportunity to introduce myself.

In summer of 2019 I had the privilege to sail to Desolation Sound and Discovery Islands. Sailing has been a passion of mine for years and sailing through this breath taking part of BC turned out to be a life changing experience for me. Prior to coming here, I haven’t even had any idea where Quadra was. After that initial sailing trip, I kept returning until I finally moved here permanently in September 2020. The long days stuck in traffic didn’t appeal to me anymore, the hustle and bustle of Vancouver wasn’t making me happy anymore. I craved the peacefulness, nature and serenity this island offered. It is however not the place as much as the people that live here that caught my attention at first. I fell in love here and then very quickly fell in love with the Island as well.

Working as a Real Estate agent is another passion of mine. Getting into Real Estate proved to be the best and right choice for me and I highly treasure all the experiences I already gained. I became a home owner at a very young age, managed a flooring company, flipped houses and did various other jobs. None of them however provided me with a sense of fulfilment and excitement.
Real Estate is not at all about numbers or houses. It’s ALL about people and people’s lives. It’s about caring, open and honest communication and always doing the right thing. As Realtors we have a fiduciary duty to represent our clients, putting our client’s needs ahead of our own. Buying a home is a very emotional and stressful process and Real Estate in many cases is the biggest investment any person will do in their lifetime. I believe it is important to have someone in your corner that really cares and understands, someone competent and trustworthy.

As any changes in life, moving out here to a new territory comes with challenges. Covid has also brought many changes to our lives and we live in a different world now. I feel optimistic however that I will be able to contribute to this community in positive ways. My job can be very consuming but I absolutely love what I do and I am here to help in any way I can. Writing in the Discovery Islander http://www.discoveryislands.ca/news/ is going to be my regular occurance and I look forward to sharing any information you may find interesting. 

Real Estate is my passion and I would love to share my knowledge and experiences with you.
Please don’t hesitate to reach out. My local number is 285-2141.

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I have listed a new property at 1378 Heriot Bay Rd.
WATER FRONT LIFESTYLE. Facing the beautiful Rebecca Spit Provincial Park, Quadra Island. This property offers you a dream that comes around very rarely. There have been no houses for sale in this area in many years. Spectacular views, close to stores, close to Cortes Island ferry in Heriot Bay. Bring your renovation ideas or just enjoy the outdoorsy lifestyle in the most beautiful area in the world. Kayaking, hiking, whale watching, fishing, biking, or just sitting on the beach and enjoying your coffee. The possibilities are endless. Great small town community. A DREAM COME TRUE for someone trying to get away from the busy city life to enjoy Nature.
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