Nanaimo Real Estate Mag

VOLUME 1 • ISSUE 1

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JANUARY 2011

NANAIMO REAL ESTATE MAG YOUR LOCAL REAL ESTATE RESOURCE

FEATURES: • All About Nanaimo • BC Property Assessments • Real Estate Transactions • State of the Market Update • How Prices are Determined • How to Hire a Listing Realtor • Hot Deals on the Market • Featured Listings

5 Acres, 3000 sqft

Custom Home South Forks Estates

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CONTENT Page 3 4-5 6 7 12-13 18-19 30-32 33 34 35 50 52

Articles What’s this All About All About Nanaimo Vancouver Island Zone Map Nanaimo Area Zone Map Monthly State of the Market Update BC Property Assessments Market Activity So Far This Year How House Prices are Determined How to Hire a Listing Realtor Hot Deals on the Market Who Can Afford to Buy Your Home? Nanaimo’s Most Expensive Listings

Featured Listings:

1. $159,900 - 36 - 285 Harewood Road 2. $209,900 - 2288 Gould West Road 3. $219,900 - 13 - 4375 Kelsey Road 4. $227,900 - 2182 Yellow Point Road 5. $228,000 - 423 - 555 Franklyn Street 6. $265,000 - 101 - 5945 Kaden Place 7. $269,900 - 545 Nanaimo River Road 8. $289,900 - 205 Dundas Street 9. $349,800 - 80 Stewart Avenue 10. $438,500 - 4021 Departure Bay Road 11. $439,000 - 5277 Lost Lake Road 12. $509,700 - 3965 Hammond Bay Road 13. $599,900 - 2545 Elk Trails Way 14. $695,000 - 7 Pirates Lane 15. $739,900 - 5775 Alder Road 16. $749,900 - 5206 Lost Lake Road 17. $874,700 - 7190 Royal Drive 18. $1,080,000 - 1363 Marina Way On the cover: “2545 Elk Trails Way - see Page 42”, Editor: Dan Morris Production Coordinator: Dan Morris Information is correct at press time. Check www.danmorris.ca for updates. Nanaimo Real Estate Magazine is published monthly by Morris Media at 2575 McCullough Rd, Nanaimo, BC, V9S 5W5. Signed articles do not necessarily reflect the official company policy. © 2011 Morris Media. All rights reserved. Reproduction in part or whole without permission is prohibited. Editorial, publishing and advertising offices: Morris Media, 2575 McCullough Road, Nanaimo, BC, V9S 5W5. Send all remittances and correspondences about subscriptions, undelivered copies and address changes to: Morris Media 2 2 at 2575 McCullough Road, Nanaimo, BC, V9S 5W5.

nanaimo Real Estate MAG Note From Dan:

elcome to the first edition of Nanaimo Real Estate Best Buys and Featured Listings. This publication is intended to profile the properties that I have chosen to market for sale primarily within the City of Nanaimo but also extending to other areas - these listings are the featured listings. In addition as an added service I have also picked out, according to my research and opinion, listings that are not my own but ones that I believe to be a good deal either due to price, uniqueness or other notable characteristics. As a Realtor my head spins when I see how many listings there are sitting on the market - it takes a lot of work and dedication to know what is on the market in the different areas of the city and in the different price ranges. For a buyer finding the right home can be a challenge and the help of a well informed Realtor is priceless (ironically as a buyer this is what your cost is to use a Realtor when buying - price-less ... ie no cost to you). To show the properties that I have agreed to market and sell on behalf of their owners I felt that there was something lacking - once I captured the home professionally with pictures and video, created the best depiction of the home that words could suffice, loaded this information onto my website www. danmorris.ca, a very limited subsection of this info onto www.realtor.ca and www.mls. ca, cross promoted this info onto other places that buyers may look - kijiji.ca, usednanaimo.com, craigslist.ca, local newspapers in the Real Estate papers and then tweeted and

WHAT’S THIS MAGAZINE ABOUT

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Without further chatter and volumes of words...

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I hope you enjoy the details that follow with regards to the listings shown in the pages to come. Note that not all properties may be currently listed for sale in the MLS system and or have for sale signs in front of their houses - but as you know every house is for sale if the price is right and this publication will tell you what price is right. Everyone has their own personility and it’s my intention for my personality to come through - life is fun, work is fun, I’m having putting this together and I hope that you have fun taking it all in too!

R o y a l -

Sincerely

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What’s in this publication?

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That being said, this publication is also available online, as will back issues once the next edition is created. So you may be reading this from the Internet - if you’d like to receive a printed version of this publication drop me an email at dan@danmorris.ca and I’ll add you to the mailing list. This also goes for if you found this publication somewhere (or stole it) let me know that you want to receive it as it comes available and I’ll send you a copy.

Wrapping up:

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into the digital age with less printing and more Internet accessibility why on earth would I go to the expense and trouble of creating a printed publication? Well, the answer is quick and easy - how many emails did you get today? How many weren’t sent directly to you that you instantly deleted? Not to mention the number of emails you don’t even know that you received as spam filters picked them off before they even hit your inbox. The digital world is getting very cluttered and in some ways it’s novelty is wearing thin - especially in the realm of informational items like this.

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As we head deeper and deeper

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Why this printed publication?

publication, or any home you may find that is listed for sale I would be happy to assist in answering your questions and assisting you in the buying process. If you have a home or property that you would like sold and you are interested in finding out if I would be willing to market and sell I would also be glad to meet with you. This publication is not intended to solict any homes that are already listed for sale - I’m sure that your Realtor is doing his/her best job to ensure that your home sells.

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facebooked what more could I do? I’ve never been one to sit around and wait so after much thought this publication was the result of what I felt was missing.

Dan Morris Royal LePage Nanaimo Realty www.danmoris.ca dan@danmorris.ca 250-756-1132

If you have any questions regarding any listing within this 3

NANAIMO STATS

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City of Nanaimo Nicknames: Country: Province: Incorporated:

Hub City, Harbour City Canada British Columbia 1874

Goverance Mayor: Governing Body: MPs: MLSs:

John Ruttan City Council Jean Crowder James Lunney Leonard Krog Ron Cantelon Doug Routley

Miscellaneous Coordinates: 49°09′51″N 123°56′11″W Area: 89,30 km2 (34.5 sq mi) Elevation: 28 m (92 ft) Population(2006): 78,692 - (RANKED 62ND) Density: 881.2/km2 (2,282.3/sq mi) Time Zone: PST (UTC-8) - Summer(DST) PDT (UTC-7) Postal Code Span: V9R - V9V Area Code: +1 - 250 Website: www.nanaimo.ca Climate Record High: High: Low: Record Low: Precipitation: Sunshine Hours:

36.7 (98.1) 14.7 (58.5) 9.8 (40.8) -20 (-4) 1,167.7mm (45.972 in) 1,903.4

Transportation Airport: Ferry Terminals: Other:

YCD Departure Bay Duke Point Float Planes, Train

Demographics Median Household Income: $45,937 Interesting Notable Titles: Capital of Google Earth Sourced from Wikipedia

The city of nanaimo

anaimo is a city on Vancouver Island in British Columbia, Canada. It has been dubbed the “Bathtub Racing Capital of the World” and “The Harbour City”. It is located 110km northwest of Victoria and 55 km west of Vancouver. Naniamo is the site of the main ferry terminal extending the TransCanada Highway to the Island through Nanaimo. Due to this ferry link, Nanaimo is naturally a gateway to all the cities and islands in Central and Northern Vancouver Island. Nanaimo is also sometimes referred to as the “Hub City” because of its central location on Vancouver Island and due to the layout of the downtown streets which form a “hub” pattern. It is also fondly known as the “Hub, Tub, and Pub City” because of its association with the bathtub racing and the numerous “watering holes” in Old Nanaimo. It is the location of the headquarters of the Regional District of Nanaimo (RDN). The first Europeans to find Nanaimo Bay were those of the 1791 Spanish voyage of Juan Carrasco. It began as a trading post in the early 19th century and in 1849 the Snuneymuxw chief Ki-et-sa-kun (“Coal Tyee”) informed the Hudson’s Bay Company that there was coal in the area. In 1853 the Hudson’s Bay Company built a fort known as the Nanaimo Bastion which stands to this day after a few renovations and relocations over the years. Nanaimo has a very rich mining history - veins of coal were mined underneath the harbour that jutted out to Protection Island and further out into Georgia Straight. Many other mines were also mined around the city and surrounding areas. If you have an interest in Nanaimo’s rich mining history there are some great books available at the Muesem downtown - The Boss Whistle by Lynn Bowen is a fanscinating look at what life was like in Nanaimo in the not so distant past.

The Harbour City - Nanaimo, British Columbia

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Nanaimo is also currently constructing a cruise ship terminal that will be capable of berthing the largest cruise ships currently in the oceans as well as the monsterous ones that are under construction.

Welcome to Nanaimo - enjoy!

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Being only 55 km to Vancouver there is a group that commutes each day while some others hold secondary residences in Vancouver and return home on the weekends. Aside from the BC Ferry link to Vancouver there are a couple float plane operators allowing you reach downtown Vancouver or Vancouver International Airport in 20 minutes.

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Nanaimo’s climate is mostly mild - very few houses have a need for air conditioning as there is typically only a week or two each year where it gets hot enough. In the winter we are teased with snow, yet typically within a few days the temperature warms up and rain washes the snow away.

In the meantime, have a look around and take a look at prices of Real Estate in the featured properties in this magazine. Nanaimo has homes in all price categories including Jesse Island located in Nanaimo’s Departure Bay currently listed for $4.5M - it’s not profiled in this magazine but if you want information drop me a note and I’ll be glad to assist you find whatever you may be looking for.

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Nanaimo is a very scenic city confined by the harbour and Georgia Straight on the East and Mount Benson on the West.

If you haven’t explored Nanaimo come on over and have a look around. Great things are happening in our city and I know you’ll be impressed by what you’ll find.

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Nanaimo has a population of approximatley 80,000 with the median age being 43.2 as of the http://www. nanaimo.ca/UploadedFilesPath/Uploaded_Photos/photo20090217143030_big.jpg 2006 Canadian consensus. 56.9 % of the dwellings are single detatched homes and the current average home price for Nanaimo in 2010 was $363,985.

For families with children of all ages, the City’s Parks Recreation and Culture program revials the best to be found anywhere. The city offers lessons for kids and adults alike from swimming to ice skating, rock climbing, daycare and preschool, dancing, music, fitness - whatever your tastes may be you’ll find a program or two that you’ll be interested in.

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Nanaimo’s mining came to an abrupt end in the early to late mid 1900’s as the use of coal was rapidly replaced by other forms of fuel.

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The city has a wide array of very well maintained parks - if you like a good nature hike the trails in and around Nanaimo will be your adventure playground - around the lakes, along the waterfront, down to the ocean and through the forests - there is a trail awaiting you.

Sincerely Dan Morris Royal LePage Nanaimo Realty www.danmorris.ca (250) 756-1132 Toll Free: 1-800-377-4374

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VANCOUVER ISLAND MAP

NANAIMO AREA MAP

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#36 - 285 Harewood Road Property Stats:

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MLS# 302219 Bedrooms: 2 Bathrooms: 2 SqFt: 960 Strata: $165 Hightlights:

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Great Family Complex Walk to shopping Nicely Updated Low Strata All Schools Nearby Fenced Yard Park at your door No Rental Restrictions Great Starter Home

This is a great starter home as well as a great investment property. Located adjacent to the University Village shopping mall gives the benefit of a very short walk to Quality Foods, Starbucks, Shoppers Drugmart plus many more. Benefits of this home include bamboo hardwood flooring, updated light fixtures, 2 fair sized bedrooms, many in home storage areas and a private fenced backyard. Most of the windows have been recently upgraded to new thermal windows. This strata has been well maintained and includes lots of green space, a recreational facility and has many families residing in the the complex. With strata fees at one of the lowest in the city at $165/month this is a very economical townhouse. As an investment property estimates for renting out this home are in the $1,100 - 1,200/month range and being in close proximity to Vancouver Island University, John Barsby, NDSS, 3 elementry schools and the adjacent shopping mall make this a very desirable location for a rental. The strat complex has no rental restrictions and has both a clubhouse and a playground. Looking at owning your first home? Looking for a rental property that can provide positive cashflow? This home is the one for you. To book a viewing call Dan Morris @ 250-756-1132 or by email at dan@danmorris.ca. 8

2 Bedroom, 2 Bathroom Townhouse - $159,900 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

High Ratio Mortgage Default Insurance Premiums (2)

Total Mortgage

Monthly Payments

Min. Gross Annual Income(4)

$7,995

$151,905

$4,785

$156,690

$694

$35,256

10%

$15,990

$143,910

$3,454

$147,364

$653

$33,701

$165

15%

$23,985

$135,915

$2,922

$138,837

$615

$32,280

$900

20%

$31,980

$127,920

$1,791

$129,711

$575

$30,758

Other Debt Payments

25%

$39,975

$119,925

$1,259

$121,184

$537

$29,337

Amortization - Year(s)

30%

$47,970

$111,930

$1,175

$113,105

$501

$27,990

Interest Rate (1)

4.04%

960

$1,024

Condo Fee Heating Cost

Floor Area Property Tax

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$159,900

Mortgage

Downpayment

Purchase Price

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What would it take to buy this house?

1) Rates are subject to change at any time without notice. Rate is the current posted 3 year closed fixed mortgage rate at time of publishing. Rate is per annum calculated semi-annually not in advance 2) Some conditions apply. Ask for details. 3) Monthly Payments are based on 35 year amortization of Mortgage Principal and Interest only and assumes that the interest rate does not change throughout the amortization period. 4) Produced for illustration purposes only. Applies to residentail mortgages only and is subject to TD Canada Trust’s credit granting criteria. Call for complete Details

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 9

2288 Gould West Road Property Stats:

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MLS# 306589 Bedrooms: 2 Bathrooms: 3 SqFt: 1,151 Property: .41 Acre Hightlights:

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Large Fenced Yard Woodstove Large Deck Skylight Updated Flooring RV Parking Room for a Shop Level Lot Nice Neighborhood

Currently a 2 bedroom, 2 bathroom - yet with a little finishing this is a 3 bedroom, 3 bathroom home. 2 of the bedrooms have their own ensuites. Many updates have been done to this 1150 sqft double wide mobile that is located in semi-rural section of Cedar just south of Nanaimo. This property is a large .41 acre level lot that is all fenced - plenty of room for kids to run and play, animals to frolick and the opporutnity to build a large shop on the property if desired. Updates have been in progress and are coming along nicely - the kitchen has been updated with some quality tile work, new flooring has been installed in most of the home, the bathrooms are modern and attractive. During the winter the wood stove provides a comfortable warmth through out the house - there is also electric baseboard heat for when the woodstove isn’t being used. Large trees surround the lot providing for a nice private setting. This home also has a large front deck ideal for enjoying the areas temperate climate - and for BBQing and entertianing friends and family. If you have a large family and like to have regular gatherings this home provides for a large group both inside and out. Cedar is located just 8 km (5 miles) south of Nanaimo and is home to some urban ares, new developments and semi-rural and rural farmlands. Amenties in the area include a grocery store, gas stations, all levels of schooling, pubs, restaurants, hiking trails, lakes and ocean access. Country living with all the services you need and only a short trip from the City of Nanaimo. 10

Double Wide Mobile on .41 Arces - $209,900 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Video • Additional Photos • Interactive Floorplans of home and property.

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Details Purchase Price

$209,900

Interest Rate (1)

Downpayment

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Total Mortgage

Monthly Payments

Min. Gross Annual Income(4)

$10,495

$199,405

$6,281

$205,686

$912

$40,139

Property Tax

$966

10%

$20,990

$188,910

$4,534

$193,444

$857

$38,098

15%

$31,485

$178,415

$3,836

$182,251

$808

$36,232

$900

20%

$41,980

$167,920

$2,351

$170,271

$755

$34,235

Other Debt Payments

25%

$52,475

$157,425

$1,653

$159,078

$705

$32,369

Amortization - Year(s)

30%

$62,970

$146,930

$1,543

$148,473

$658

$30,601

Condo Fee Heating Cost

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Floor Area

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 11

State of the Market - Monthly Update Dan’s Nanaimo Real Estate Update

he ball has dropped, the parties are done, the resolutions have been set (and by now some have probably even been broken) – Welcome to 2011! It continues to amaze me at how

opener to pay attention to what is really important in your life. This is typically the time of year that we decide to trim our waistlines, spend more time with those who are important to us, reduce our debt and plan our family vacations – these are all great things to do, and I encourage you to do this not only now but every couple of months because once time has passed it can’t be recovered. <end

Tony Robbins speech section> Over the holidays, in the idle moments I had, I took the time to sharpen my mind and read a few Real Estate books, primarily focusing on how to provide the best service to my clients. In the course of reading the 3 books I worked through I learned some valuable information that I will be using going forward in 2011. We all (Sell-

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was at a 10 year low. One interesting tidbit that I read was that we are Sales Cycles”)

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2010 was a very difficult year for sellers and Realtors. Prices slid as

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quickly a year can pass by, as you think the same take a moment to use this as an eye

the number of buyers willing to sign on the line and make the deal all familiar with the seasonally cyclical sales patterns( See “Season

However, what few are aware of until they happen are the economic cycles that happen over several years. Seasonal cycles appear to be short term, manageable and predictable whereas economic cycles are often longer term, unpredictable and overwhelming. The following graph beside is from the US market activity and is from the book “Shift – How Top Real Estate Agents Tackle Tough Times” What can we learn and use from this? Well, if you are in the market to buy or sell you are at the mercy of the market – for the past while we have been in a buyer’s market, there are lots of choices available and buyers appear to be holding on to see if the prices will continue to drop – economic uncertainty also has a bearing on buyers decisions. For seller’s who are buying back into the market and who are buying up are at a great advantage – a 10% percentage drop on a $500K home is $50K whereas a 10% drop on a $300K home is only $30K – great opportunity to move up in the market if you are in a position to do so.

Dan’s Monthly Informational Newsletter How’s the Market? So – that being said how is the market? December finished off in the same grand style of all of 2010 with

If this trend continues I anticipate that we’ll start seeing fewer Realtors. As of December 24th Nanaimo had 359 Realtors and with only 49 transactions in December only 68 of the 359 Realtors earned a pay cheque. Hard to support a family without a pay cheque.

erties had modified their prices within the last 60 days. The majority of homes that sell sell in less than 60 price and wait it out are few and far between.

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Forecast? To borrow another well used saying – what goes up must come down … I believe we are down so it must of the tunnel for the US economy. The numbers were starting to roll in showing economic prosperity.

can be unpredictable – sometimes lasting long periods of time. Looking back over Nanaimo’s local real estate history shows that we have had the worst year in 10 years – only 2000 had lower number of sales in a calendar year – 2010 had a total of 1954 sales whereas 2000 had 1562.

Forecasting the Real Estate Market is starting to make me feel like a BC Weather Man – so far I keep saying it’s going to get better but I have yet to be right…I’ll get it eventually.

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Personal Notes As mentioned I mentioned in last month’s update Chelli the boys and I made our yearly family trip to Chelli’s hometown of Hereford, Texas. We flew out on the 17th from Victoria and

returned on New Year’s Eve. For Christmas day we spent Christmas with Chelli’s extended

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family at Chelli’s grandmothers in Stratford Texas. The boys had a blast opening their presents The Boys on one of our many drives

estimate that we still drove the equivalent of a drive to Texas and back in our rental Yukon – with the built-in TV the boys watched Cars, Yogi Bear, Wiggles, Dora, Diego, Monsters Inc and many other shows and movies over and over – what a great thing to have built into a car. Axton was very disappointed when we got home to our Jeep and it had no TV. I’m eagerly ready to get busy for 2011 – I have sharpened my skills and expanded my knowledge and I have some exciting new plans for the year. This publication being one of them. Wishing you and your family all the best in 2011 – I look forward to serving you and your contacts with all real estate needs – if you or your connections are looking for a hardworking Realtor to either sell or assist in buying a home give me a call at 250 756 1132 or drop me an email at dan@danmorris.ca. - Happy New Year!

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If I was a betting man I would look at a 10 year low with a probability that its due to turn around soon.

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From the information I mentioned above from the books I’ve been reading it shows that these economic downturns of the Real Estate market

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be time to go back up. On our trip back home from Texas I read a headline on a newspaper that talked about the light being visible at the end

and chasing each other around. Although we flew t o Texas, over the 2 weeks we were there I

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days from either being listed or having a price adjustment. The percentage of properties that hold to their

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34 days – only 4 of these properties had been on the market for more than 80 days. The remaining 7 prop-

# of Sales 49 125 64 99 114 131 138 147 108 101 74

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For the 49 sales – 42 of these properties had not changed their prices and had an median days on market of

December 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

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the lowest number of sales more than 10 years(see side bar table).

13 - 4375 Kelsey Road (Bowser) Property Stats:

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MLS# Bedrooms: Bathrooms: Strata: SqFt: Hightlights:

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• Sleeps 6 • Private Oceanfront Resort • Revenue Producing $2030K/year • Includes Website • Boat Launch • Fishing Destination • Mt. Washington Ski Resort 45 mins away

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302504 2 1 $100 730

If you have been looking for an recreational property for either your own use or as a revenue property this well kept 730 sqft cabin located in Seacroft Resort - a private oceanfront Resort just north of Qualicum could be what you have been looking for. Priced now at $219,900, this is the best priced Oceanfront vacation property currently listed on Vancouver Island. This cabin sleeps 6 and can come along with a well established list of clientelle as well as a professinally created booking and promotional website www.cabinbythesea.ca. The grounds include coin operated laundry, grounds maintenace, grassy areas to play volleyball, bocci, croquet. Down at the beach there are fire pits and a sandy beach area. At the waterfront you can dig for clams and oysters. Seacroft Resort is an ocean front family resort well off the highway neslted amoung a mature forest of giant fir and cedar trees. This resort property offers picturesque vies of Denman, Hornby, Lasquiti and Texada Islands. With 400 ft of ocean beachfront only a short 2 minute walk from this cabin you can take in Orcas and Hump Backed whales passing by, seals playing. Bring your boat along for some fantastic fishing or your kayak to explore the sheltered waters. Fishing for Salmon in august as the fish betgin to gather for their return up the Big Qualicum River nearby. Over a hundred Bald Eagles make their home around Seacroft and there is a Bald Eagle nesting tree next to the resort. Deer are commonly seen roaming the property - this resort is an ideal getaway location regardless of the time of the year. Near by attractions include Mt Washington Resort which has Skiing and Snowboarding in the winter and Hikinga and Mountain Biking in the Summer. Strathcona Provincial Park is nearby providing rugged hiking 14 and camping trails.

Oceanfront Resort Revenue - $219,900 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Video • Additional Photos • Interactive Floorplans of home and property.

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Details Purchase Price

$229,700

Interest Rate (1)

Downpayment

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Total Mortgage

Monthly Payments

Min. Gross Annual Income(4)

$11,485

$218,215

$6,001

$224,216

$1,659

$68,071

Property Tax

$904

10%

$22,970

$206,730

$4,135

$210,865

$1,560

$64,354

Condo Fee

$100

15%

$34,455

$195,245

$3,417

$198,662

$1,470

$60,957

Heating Cost

$900

20%

$45,940

$183,760

$1,838

$185,598

$1,373

$57,321

Other Debt Payments

25%

$57,425

$172,275

$1,120

$173,395

$1,283

$53,924

Amortization - Year(s)

30%

$68,910

$160,790

$1,045

$161,835

$1,198

$50,706

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730

4.04%

Floor Area

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 15

2182 Yellow Point Road Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# 304784 Bedrooms: 2 Bathrooms: 1 SqFt: 792 Property: 0.31 Acres Hightlights:

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• Completely Renovated • Large Level Lot • Privacy with Mature Trees • Lots of Room for a Shop • 3 Separate Decks • Brand New Condition

This 2 bedroom, 1 bathroom mobile home has been completely rebuilt inside and out. Attractive laminate flooring runs throughout the home and the walls have all been painted neutral white ready for you to add your own personal touches to this comfy home. Large thermal windows throughout make this home nice and bright and extremely energy efficient. During the renovation all the insulation was also updated. The renovation has left this mobile in a brand new condition. The built on laundary room on the side of the mobile doubles as a utlitily/mud room. Large mature trees surround the property providing for privacy from the roadway. As you drive into the yard you’ll notice a river rock wall around a tree making for an easy turn around. If you have yard toys - RV’s, Boats, Trucks and cars - there is lots of room at this home for all that you have. If you’d like to have a large shop or garage, this property also has lots of room to build one either to the left of the house or adjacent to Yellow Point Road. This home is located in Cedar, BC - a small semi-rural community 8 km (5 miles) south of Nanaimo on Vancouver Island. Cedar has a long rich history with its formation back in 1888 when th e post office was opened. Cedar is home to the well known eating and drinking establishments Crow and Gate Pub, The Wheatsheaf, and the classy restaurant Mahle House. Grocery stores, gas stations, K-12 schools, hiking trails around various lakes and down to the oceanfront. Great fishing in lakes and ocean - Cedar is a community that has it all! 16

Renovated Mobile on 1/3 Acre - $227,900 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Video • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details Purchase Price

$227,900

Interest Rate (1)

Downpayment

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Total Mortgage

Monthly Payments

Min. Gross Annual Income(4)

$11,395

$216,505

$5,954

$222,459

$1,175

$49,762

Property Tax

$874

10%

$22,790

$205,110

$4,102

$209,212

$1,105

$47,130

Condo Fee

N/A

15%

$34,185

$193,715

$3,390

$197,105

$1,041

$44,724

Heating Cost

$900

20%

$45,580

$182,320

$1,823

$184,143

$973

$42,149

Other Debt Payments

25%

$56,975

$170,925

$1,111

$172,036

$909

$39,743

Amortization - Year(s)

30%

$68,370

$159,530

$1,037

$160,567

$848

$37,465

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792

4.04%

Floor Area

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 17

BC Property Assessments

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2 5 0 - 7 5 6 - 1 1 3 2

y now you have received your BC Property Assessment and I felt it was prudent to share some information so that you may be able to better understand what this assessment means.

All assessments in BC are conducted by BC Assessment, a provincial Crown corporation. Assessments are conducted as of July 1 of each year and then delivered to home owners on the 31st of December. Your tax assessment is determined by the changes in the Real Estate market, and over the years we have mostly seen our assessed values rising. One common question that we hear is “How does my tax assessed value compare to what my home would sell for?” In theory, if your assessment is accurate and if you were to sell your house on July 1st of 2010, the current assessment you received is what your home should have sold for on July 1, 2010. I say in theory because BC has 1.9 million properties and not every property can be appraised in person by one of approx. 300 BC Assessment appraisers - so models and calculations are used based on the known facts about your house – size of your home, number of rooms, location of town, views from your property, size of your property and age of your home. Most of this information is available from Real Estate sales records and building permits. There is only one way to determine what your house will really sell for and that is to set a price and try to sell it – if the price is too low it will sell quickly and you may lose out – if it’s set too high it won’t sell at all. Realtors help sellers by analyzing the sales records of similar houses that have recently sold and use this data to provide a value as to what your home will more than likely sell for. Without this work done by a trained professional you are chancing leaving money on the table or being overpriced (which gives you no money in your pocket). As time progresses past July 1st the market changes which changes the fair market value of your home. When the market was jumping by 30-40% in the mid 2000’s tax assessed values were 30-40% out and likewise when the market declines tax assessments can also be higher than what your house would sell for. Our Real Estate systems haven’t yet been updated with the newest 2011 assessment’s so we are still only able to compare 2010’s assessment (prices as of July 2009). In watching our local market for the past 6 months sold listings have been averaging 107% above 2010’s tax assessed values. 18

Continued Next Page....

What Does this Number Mean? (continued from prev page) (Continued from Previous Page)

Definitions

home

compares:

If you disagree with your assessment you can dispute it – if you have no intention of selling in the near future and think your assessment is too high visit this link: http://www.bcassessment.ca/public/Pages/AppealingyourAssessment.aspx If you have any questions about your tax assessment or are wondering what your house would sell for in our current market - give me a call and I’d be glad to answer any questions you may have - Dan Morris - 250-756-1132. 19

w w w . d a n m o r r i s . c a

your

how

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see

n a n a i m o

and

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You can also view all your neighbors assessments http://www.bcassessment.ca and look for this logo:

R o y a l

BC Assessment also has a great video that talks about how they assess properties that is only a couple minutes long and informative: Visit their website at http:// www.bcassessment.ca and look for “How we assess and value property” in the Video section of the page.

o f

For More Information:

Chattel - This is everything in your home and your property that isn’t part of the home. Typically when a house is sold the appliances are included - these are chattel and not part of the house.

M o r r i s

And this year (not in our system yet) my land value jumped to 196,000 and improvement has jumped to 159,000. Strangely enough nothing has been done to my house so there is no reason why my assessment should have jumped so much other than maybe a correction from the massive drop in assessed value in 2010.

Improvements - This is your physical house. Depending on the size, age, qaulity of construction this number can vary greatly from one house to the next.

d a n

Land - This is the dirt or the property component

b y

In the world of Real Estate when a property is talked about there are 3 components that are referred to:

P r o v i d e d

I just received my assessment and according to BC Assessment my house went from $292K last year to $355K this year – how does this compare to what my home would sell for? I believe that my house would currently sell for $330K – and back in July of 2010 the way the market was moving in Nanaimo I still would say it would have sold for $330K despite BC Assessment’s choice of $355K. Here’s how my house has fared since 2004:

423 - 555 Franklyn Street Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# Exclusive Bedrooms: 1 Bathrooms: 1 Strata: 109 SqFt: 630 Hightlights: Harbour Oceanview European Design Rentals OK Balcony Exercise Room Top Floor Corner Unit

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• • • • • •

One bedroom + den Ocean View condo located in Nanaimo’s downtown Old City Quarter is spaceous and well designed. The exterior of the concrete VIVO Gallery Complex is an artistic mix of hardiboard, concrete and steel creating a look not found anywhere else in the city. This unit has engineered hardwood flooring, stainless steel appliances, attractive light fixtures, in-unit washer and dryer and a gas fireplace. From your balcony and from your living room windows you’ll be able to gaze out at Nanaimo’s scenic harbour, the cliffs of Gabriola, Duke Point - watch seaplanes, cruise ships and the rest of Nanaimo’s active harbour from the comfort of your home. The complex has a secured undergound parking, storage lockers and an exercise room. Nearby you’ll find the City’s Heritage Mews shopping district with quaint coffee shops, restaurants, uniuqe boutiques - many interesting shops to explore. A short walk down the hill and you’ll be at Nanaimo’s museum, conference center, Port Place Mall with Thrifty Foods, London Drugs and The Great Canadian Casino. If you enjoy a good walk, Nanaimo’s picturesque seawalk is only a short walk away - stroll by the harbour front - watch patrons fishing and crabbing on the docks, sit and take in one of Nanaimo’s many talented musicians at the park. Whether you are looking for yourself for the summer or as an investment this condo is one to have a look at. Currently rented to an resident doctor at NRGH on a lease until July of 2011 paying $1,000 a month - with Nanaimo’s doctor training facility doctors land in Nanaimo for 2 year terms regularly . 20

Downtown Oceanview Condo - $228,000 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$11,400

$216,600

$6,823

$223,423

$990

$71,591

10%

$22,800

$205,200

$4,925

$210,125

$931

$69,374

$109

15%

$34,200

$193,800

$4,167

$197,967

$877

$67,347

$900

20%

$45,600

$182,400

$2,554

$184,954

$820

$65,178

Other Debt Payments

25%

$57,000

$171,000

$1,796

$172,796

$766

$63,151

Amortization - Year(s)

30%

$68,400

$159,600

$1,676

$161,276

$715

$61,230

Interest Rate (1)

4.04%

630

$1,776

Condo Fee Heating Cost

Floor Area Property Tax

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Total Mortgage

$228,000

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 21

101-5945 Kaden Place Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# Exclusive Bedrooms: 2 Bathrooms: 2 Strata: 165 SqFt: 1205 Hightlights:

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• Built in 2008 • Open Living Area • Parks and Shopping Nearby • Warm and Inviting • Ground Floor - no-stairs

Built in 2008 so this home has NO HST or GST to worry about! Like new condition with 2 bedrooms + den and 2 bathroom, this ground floor fourplex unit radiates with charm. Fire your BBQ up on the patio and sit and enjoy the warmth of the sunshine. Established flower beds provide a level of privacy for your patio. Only a short walk away to North Nanaimo Town Centre where you can go to the movie theatre, groceries(soon when Fairway Market Completes). Also only a few steps away is recreation at Oliver Woods Recreation Center, swimming and spa at Origin, and all the stores and ammenties available at Longwood Station. Might not need that extra car (or any car) if you live here. Being a ground floor unit in the fourplex there are no stairs to contend with - carry your groceries right in without having to lug them up a flight of stairs. If you like to go for walks the surrounding area is primarily level making for a nice easy stroll around the neighborhood. Although Uplands Drive can be a busy road during the day, when you are home at night it is very quiet. In addition the construction and window selection also minimizes any noise generated from the road. With this home you can be green and do your part to help save the environment and also decrease your transportation costs as you can walk to nearly anything you may need nearby. There is regular bus traffic in both directions of Uplands and North Nanaimo Town Centre also has a bus exchange. 22

Central Located Ground Floor 4-Plex Unit - $265,000 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$13,250

$251,750

$7,930

$259,680

$1,151

$89,582

10%

$26,500

$238,500

$5,724

$244,224

$1,082

$87,005

$165

15%

$39,750

$225,250

$4,843

$230,093

$1,020

$84,649

$900

20%

$53,000

$212,000

$2,968

$214,968

$953

$82,128

Other Debt Payments

25%

$66,250

$198,750

$2,087

$200,837

$890

$79,772

Amortization - Year(s)

30%

$79,500

$185,500

$1,948

$187,448

$831

$77,540

Interest Rate (1)

4.04%

Floor Area

1205

$1,987

Condo Fee Heating Cost

Property Tax

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Total Mortgage

$265,000

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 23

545 Nanaimo River Road Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# 307274 Bedrooms: 3 Bathrooms: 1 SqFt: 1320 Property: 0.42 Acres Hightlights:

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• Large Level Yard • Large Kitchen and Living Room • Walking Distance to Swimming @ Nanaimo River • Hardwood Floors • Pellet Stove • Extremely Low Monthly Costs Here’s a cute 3 bedroom rancher that with a few touch ups here and there would make a great house. It is located on a large .42 acre lot just south of Nanaimo on Nanaimo River Road. With just over 1300 sqft, its large living room, spaceous kitchen, laundry room and mud room makes this home a great family home. This home has a good sized master bedroom and 2 regular size bedrooms. The house has 200 amp electrical service and plenty of room for a good sized shop. Being out in the country this home has a septic system that was just recently serviced. Instead of dealing with unsavory water from wells that are salty and sulfury, this home has a water cistren system instead. A cistren water system has its advantages allowing you to monitor your water consumption - a family of 4 typically uses a tank a month ($115). Water delivery is city water and is available and timely. Having the system already setup provides for an easy transition to a rainwater catchment system. From this home it is only a short 5 minute walk to one of Nanaimo’s best swimming holes along the Nanaimo River, people drive from far and wide every hot summer day - you’ll only have to go for a short walk. The large level lot has a 500 sqft structure that used to be the original residence - it has been prepped and is ready for some touch ups to be finished into a workshop, studio, guesthouse, man-cave - or whatever you may need it for. Looking for low costs? Low taxes, low monthly expenses, & pellet stove help keep costs low. This home is ready for quick possession. 24

Central Located Ground Floor 4-Plex Unit - $269,900 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$13,495

$256,405

$8,077

$264,482

$1,172

$51,087

10%

$26,990

$242,910

$5,830

$248,740

$1,102

$48,463

N/A

15%

$40,485

$229,415

$4,932

$234,347

$1,039

$46,064

$900

20%

$53,980

$215,920

$3,023

$218,943

$970

$43,496

Other Debt Payments

25%

$67,475

$202,425

$2,125

$204,550

$906

$41,097

Amortization - Year(s)

30%

$80,970

$188,930

$1,984

$190,914

$846

$38,823

Interest Rate (1)

4.04%

Floor Area

1320

$1,332

Condo Fee Heating Cost

Property Tax

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Total Mortgage

$269,900

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 25

205 Dundas Street Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# 304082 Bedrooms: 4 Bathrooms: 2 SqFt: 1938 Property: 0.13 Acres Age: 42 Years Hightlights:

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• Solid Oak Hardwood • Natural Gas Heat and Cooking Stove • Quiet Neighborhood • New Roof and Deck • Very Energy Efficient • Low Maintence Yard • Full History - 1 Owner

Located in South Nanaimo, this is a solid 4 bedroom, 2 bathroom home is ideally set on quiet roads that do not see regular traffic. Due to the shape of the lot being long and narrow (45’ x 124’) this house is long and narrow. This house has been owned by the same couple for the past 40 years - the home was 2 years old when they bought it. The benefit to the next owners is that the current owners know absolutely everything about this house. Originally this home was a rancher and 15-20 years ago it was professionally raised doubling the size of the house. The amount of care and upkeep is evident and unparralled by any other 43 year old home. As you enter then main floor you will notice the classic #3 solid Oak hardwood floors through the main living area of the house. A natural gas furnace provides economical heat to the house and fuels the kitchen stove and range as well. Lines have been ran for natural gas fireplaces as well. There are two bedrooms up and two bedrooms down. Off the kitchen there is a dining area as well as a cozy family room. Outside you’ll find a wrap around deck that has recently had the vinyl replaced. A natural gas hook up awaits your BBQ and from your deck you will be able to gaze out at Mount Benson and the quiet valley below. To the side of the house there is plenty of room to park an RV or fence off for kids and or pets to play. In 2007 the roof was replaced - this is a very well kept home that should pass any building inspection with flying colours.

Solid 4 Bedroom 2 Bathroom Home - $289,900 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$14,495

$275,405

$8,675

$284,080

$1,259

$57,132

10%

$28,990

$260,910

$6,262

$267,172

$1,184

$54,313

N/A

15%

$43,485

$246,415

$5,298

$251,713

$1,115

$51,736

$900

20%

$57,980

$231,920

$3,247

$235,167

$1,042

$48,978

Other Debt Payments

25%

$72,475

$217,425

$2,283

$219,708

$974

$46,401

Amortization - Year(s)

30%

$86,970

$202,930

$2,131

$205,061

$909

$43,959

Interest Rate (1)

4.04%

Floor Area

1938

$2,218

Condo Fee Heating Cost

Property Tax

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Total Mortgage

$289,900

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 27

80 Stewart Ave Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# 307970 Bedrooms: 5 Bathrooms: 2 SqFt: 2990 Property: 0.10 Acres Age: Unknown Hightlights:

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• Hardwood Floors • Largest House on Market under $350K • Seawalk Short Walk away • Centrally Located • New Elecric Furnace • New Roof (2011) • Inhouse Storage and Workshop This is a nicely updated 5 bedroom 2 bathroom character home located along Stewart Avenue. With a smaller yard you won’t have to worry about spending too much time maintaining the yard. Large hedges shelter the home from Stewart Avenue and from this house you are only 1 block from Naniamo’s favored waterfront seawalk and only a short walk to downtown’s coffee shops, restaurants, museum and other ammenties. Moor your boat at the marina a few blocks away and walk home. As of the time of printing this 2,990 total square feet house is the largest house on the market for its price. If you are looking for a large house with generous sized rooms split over 3 levels this home is one to take a look at. Located amongst other character homes this home boasts beautiful hardwood floors, cozy wood burning fireplace, as well as a new roof and new electric furnace (as of January 2011). A recent inspection showed no other issues with this classic old character home. If you are needing and wanting a character home with spacious bedrooms, room for storage, an in house workshop, and a huge rec room for the kids to play in this house must be seen. Centrally located has you at the Departure Bay Ferry Terminal, Nanaimo Airport, Golf Courses and Nanaimo’s Marina and all other amenities that Nanaimo has to offer in just a short drive. The large basement with separate access could be ideal for a home based business if you are looking for an home where you could run your business from. 28

2990 sqft 5 Bedroom Character Home - $349,800 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$17,490

$332,310

$10,468

$342,778

$1,519

$67,641

10%

$34,980

$314,820

$7,556

$322,376

$1,429

$64,240

N/A

15%

$52,470

$297,330

$6,393

$303,723

$1,346

$61,131

$900

20%

$69,960

$279,840

$3,918

$283,758

$1,257

$57,802

Other Debt Payments

25%

$87,450

$262,350

$2,755

$265,105

$1,175

$54,693

Amortization - Year(s)

30%

$104,940

$244,860

$2,571

$247,431

$1,097

$51,747

Interest Rate (1)

4.04%

Floor Area

2990

$2,449

Condo Fee Heating Cost

Property Tax

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Total Mortgage

$349,800

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 29

Monthly Market Activity

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New Listings from Saturday, January 1, 2011 to Sunday, January 9, 2011

Address

Unit

ML Number Sub Area

Bth

List Price

Type

1226 LAWLOR ROAD

308051

Z4 Chase River

40,000

Manufactured/Mobile

5854 TURNER ROAD

115

307957

Z4 Pleasant Valley

64,900

Manufactured/Mobile

6325 METRAL DRIVE

308084

Z4 Pleasant Valley

74,900

Manufactured/Mobile

999 BOWEN ROAD

5106

308073

Z4 Central Nanaimo

89,000

Condo/Strata

6990 DICKINSON ROAD

307927

Z4 Lower Lantzville

125,900

Manufactured/Mobile

5931 ISLAND N HWY

308015

Z4 Pleasant Valley

140,000

Manufactured/Mobile

5931 ISLAND N HWY

SqFt Fin Lot SqFt 1,075

994

408

308016

Z4 Pleasant Valley

145,000

Manufactured/Mobile

2139 MAIN ROAD

308001

Z4 Cedar

148,000

Lots/Acreage

43,560

30 CAVAN STREET

404

307992

Z4 Old City

150,000

Condo/Strata

640

24 PRIDEAUX STREET

108

307930

Z4 Old City

153,900

Condo/Strata

605

6325 METRAL DRIVE

307951

Z4 Pleasant Valley

172,900

Manufactured/Mobile

1,200

2300 LEIGHTON ROAD

308033

Z4 South Jingle Pot

177,900

Lots/Acreage

6,458

2306 LEIGHTON ROAD

308032

Z4 South Jingle Pot

177,900

Lots/Acreage

6,458

2312 LEIGHTON ROAD

308031

Z4 South Jingle Pot

177,900

Lots/Acreage

6,492

2354 LEIGHTON ROAD

308030

Z4 South Jingle Pot

177,900

Lots/Acreage

6,537

2353 LEIGHTON ROAD

308029

Z4 South Jingle Pot

177,900

Lots/Acreage

8,123

2341 LEIGHTON ROAD

308028

Z4 South Jingle Pot

177,900

Lots/Acreage

6,508

2335 LEIGHTON ROAD

308027

Z4 South Jingle Pot

177,900

Lots/Acreage

8,094

2251 BELWOOD ROAD

308026

Z4 South Jingle Pot

177,900

Lots/Acreage

6,469

2245 BELWOOD ROAD

308025

Z4 South Jingle Pot

177,900

Lots/Acreage

6,469

2239 BELWOOD ROAD

308024

Z4 South Jingle Pot

177,900

Lots/Acreage

8,076

5660 EDGEWATER LANE

308014

Z4 North Nanaimo

199,900

Condo/Strata

945 HALIBURTON STREET

307990

Z4 South Nanaimo

199,900

Lots/Acreage

29,900

812 BRUCE AVE

307925

Z4 South Nanaimo

214,900

Single Family

5,050

5650 EDGEWATER LANE

401

308057

Z4 North Nanaimo

218,000

Condo/Strata

38 FRONT STREET

205

307889

Z4 Old City

224,900

Condo/Strata

1963 CEDAR ROAD

307910

Z4 Cedar

245,000

Single Family

26,136

1211 WOODLANDS STREET

307902

Z4 Central Nanaimo

246,000

Single Family

8,000

2153 MAIN ROAD

307999

Z4 Cedar

248,000

Single Family

616 HAMILTON AVE

307871

Z4 South Nanaimo

264,900

Single Family

6738 DICKINSON ROAD

307885

Z4 North Nanaimo

274,900

Condo/Strata

815 GIRVIN AVE

308002

Z4 Central Nanaimo

279,900

Single Family

7,251

3007 HAMMOND BAY ROAD

307914

Z4 Hammond Bay

279,900

Half Duplex

1,225

14,887

5502 GODFREY ROAD

307978

Z4 Pleasant Valley

299,900

Single Family

1,002

7,198

2659 LABIEUX ROAD

307967

Z4 Diver Lake

304,900

Single Family

13,503

938 MALASPINA CRES

307867

Z4 Departure Bay

319,000

Single Family

8,003

109

203

880

739

1,460

9,800

1,055

1,702

New Listings on the Market New Listings from Saturday, January 1, 2011 to Sunday, January 9, 2011 (Continued)

5650 EDGEWATER LANE

110

307976

Z4 North Nanaimo

319,900

Condo/Strata

1,446

6494 RAVEN ROAD

308018

Z4 North Nanaimo

322,500

Lots/Acreage

6,803

351 BAYVIEW PARK DRIVE

308004

Z4 Upper Lantzville

325,000

Lots/Acreage

138,521

276 LAURENCE PARK WAY

308040

Z4 South Nanaimo

329,900

Single Family

1,791

6,785

1814 BAY STREET

308023

Z4 Departure Bay

339,000

Single Family

2,515

10,040

3240 FAIRWAY CRES

307897

Z4 Departure Bay

339,900

Single Family

1,984

7,841

80 STEWART AVE

307970

Z4 Brechin Hill

349,800

Single Family

2,500

4,356

505 GATEWOOD PLACE

308034

Z4 Hammond Bay

349,900

Single Family

1,590

9,153

4723 HAMMOND BAY ROAD

307921

Z4 Hammond Bay

354,000

Single Family

6,502

6000 BUTCHER ROAD

308076

Z4 North Nanaimo

355,000

Single Family

1,563

7,761

3082 LITTLE JOHN WAY

308021

Z4 Departure Bay

359,900

Single Family

2,560

9,600

8376 BAYVIEW PARK DRIVE

307872

Z4 Upper Lantzville

359,900

Single Family

1,914

26,136

3479 PLANTA ROAD

307869

Z4 Hammond Bay

359,900

Single Family

7,800

505 STEWART AVE

307874

Z4 Brechin Hill

369,900

Single Family

1,775

6,400

2685 JASMINE PLACE

307865

Z4 Diver Lake

374,900

Single Family

1,600

7,574

150 PROMENADE DRIVE

307915

Z4 Old City

379,900

Condo/Strata

1,089

6182 GARSIDE ROAD

308091

Z4 Pleasant Valley

384,900

Single Family

5,167

57 RANCHVIEW DRIVE

307952

Z4 Chase River

384,900

Single Family

2,000

14,810

6563 SOUTHAMPTON ROAD

308038

Z4 North Nanaimo

389,900

Single Family

1,840

10,000

3237 HAMMOND BAY ROAD

307906

Z4 Hammond Bay

389,900

Single Family

1,680

5582 GARIBALDI DRIVE

308039

Z4 North Nanaimo

404,900

Single Family

2,146

5931 CODY PLACE

308058

Z4 North Nanaimo

419,000

Single Family

8,715

3816 AVONLEA DRIVE

308003

Z4 North Jingle Pot

424,900

Single Family

1,815

8,895

2287 KINGSFORD PLACE

308053

Z4 Chase River

429,900

Single Family

3,199

7,405

3536 WILTSHIRE DRIVE

307913

Z4 Hammond Bay

438,888

Single Family

2,660

7,817

1785 ARGYLE AVE

308056

Z4 Departure Bay

444,900

Single Family

2,200

11,220

3379 EDGEWOOD DRIVE

308066

Z4 Departure Bay

459,900

Condo/Strata

1,748

2910 THOMAS STREET

307937

Z4 Departure Bay

459,900

Single Family

2,794

7,500

37 RANCHVIEW DRIVE

307880

Z4 Chase River

469,900

Single Family

2,754

19,036

3019 HAMMOND BAY ROAD

308047

Z4 Hammond Bay

474,900

Single Family

6644 KESTREL CRES

307870

Z4 North Nanaimo

489,000

Single Family

2796 TWILIGHT WAY

308067

Z4 Extension

489,900

Single Family

136,778

4911 FILLINGER CRES

308012

Z4 North Nanaimo

539,900

Single Family

13,240

2670 RANDLE ROAD

307896

Z4 Departure Bay

599,000

Single Family

5,808

3506 CASTLE ROCK DRIVE

307981

Z4 North Jingle Pot

679,900

Single Family

110

6,458

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1,970

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SqFt Fin Lot SqFt

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Monthly Market Activity - Price Changes & Sales

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Price Changes from Saturday, January 1, 2011 to Sunday, January 9, 2011

Address Unit 1736 TIMBERLANDS ROAD 123 2578 HIGHLAND BLVD 25 PRYDE AVE 29 1572 SEABIRD ROAD 51 3270 ROSS ROAD 102 445 GAIL PLACE 2 247 VICTORIA ROAD LT 5 SOUTHWIND DRIVE 3173 ANGUS ROAD 2346 GOULD E ROAD 610 SANDY CRT 3866 MIMOSA DRIVE 434 FOSTER STREET LT 6 SOUTHWIND DRIVE LT 8 SOUTHWIND DRIVE LT 9 SOUTHWIND DRIVE LT 7 SOUTHWIND DRIVE 3978 UPLANDS DRIVE 940 TOWNSITE ROAD 2198 HUMMINGBIRD DRIVE 425 BRUCE AVE 5171 DUNSTER ROAD 6050 GARSIDE ROAD 1609 NORTHFIELD ROAD 2333 BOWEN ROAD 5933 TWEEDSMUIR CRES 6414 PORTSMOUTH ROAD 5089 CARRIAGE DRIVE 170 LOCKSLEY PLACE 6111 JANELLE PLACE 2085 GRIEVE ROAD 7120 MCGILL ROAD 2988 LOFTHOUSE ROAD

ML Number 306287 304845 305018 305846 303440 307487 303107 300766 305733 304766 307664 305989 305365 300767 300764 300763 300761 307273 302558 307000 302915 307722 307287 305496 306506 302491 304437 302554 300712 305441 305259 304022 305434

Sub Area BR Bth Z4 Extension 2 1 Z4 Departure Bay 1 1 Z4 Central Nanaimo 1 1 Z4 Extension 2 2 Z4 Uplands 2 2 Z4 University District 2 1 Z4 South Nanaimo 3 2 Z4 Upper Lantzville Z4 Chase River 3 1 Z4 Cedar 3 1 Z4 South Nanaimo 4 2 Z4 North Jingle Pot 2 2 Z4 University District 3 1 Z4 Upper Lantzville Z4 Upper Lantzville Z4 Upper Lantzville Z4 Upper Lantzville Z4 Uplands 4 3 Z4 Central Nanaimo 3 1 Z4 Cedar 3 3 Z4 South Nanaimo 2 2 Z4 Pleasant Valley 3 2 Z4 Pleasant Valley 3 2 Z4 Central Nanaimo 4 4 Z4 Diver Lake 4 3 Z4 North Nanaimo 4 3 Z4 North Nanaimo 4 2 Z4 North Nanaimo 3 3 Z4 Departure Bay 5 3 Z4 North Nanaimo 4 3 Z4 Cedar 5 3 Z4 Lower Lantzville 2 2 Z4 Cedar 4 2

List Price 81,500 115,000 119,500 124,900 136,000 160,000 179,900 179,900 199,999 206,000 210,000 220,000 224,900 259,900 265,000 265,000 265,000 269,900 274,900 292,000 317,000 327,000 369,900 374,900 379,900 379,900 389,000 409,000 409,900 419,900 524,900 799,000 4,150,000

Reason for Change Reduced from 86,500 Reduced from 118,777 Reduced from 122,000 Reduced from 129,900 Reduced from 144,900 Price Changed Reduced from 189,900 Reduced from 199,900 Reduced from 204,900 Reduced from 244,900 Reduced from 220,000 Reduced from 235,000 Reduced from 239,900 Reduced from 269,900 Reduced from 269,900 Reduced from 269,900 Reduced from 269,900 Reduced from 277,900 Reduced from 284,900 Reduced from 298,000 Reduced from 349,000 Price Changed Reduced from 379,900 Reduced from 399,000 Reduced from 389,900 Reduced from 389,900 Reduced from 408,888 Reduced from 419,000 Reduced from 439,900 Reduced from 439,900 Reduced from 539,900 Reduced from 819,000 Reduced from 4,450,000

Type SqFt Fin Lot SqFt Manufactured/Mobile 930 Condo/Strata 660 Condo/Strata Manufactured/Mobile 1,152 Condo/Strata 957 Condo/Strata 890 Single Family 1,550 5,940 Lots/Acreage 134,549 Single Family 23,087 Single Family 1,106 12,155 Single Family 8,100 Manufactured/Mobile 1,070 Single Family 1,030 9,310 Lots/Acreage 107,639 Lots/Acreage 107,639 Lots/Acreage 118,403 Lots/Acreage 118,403 Single Family 2,230 4,051 Single Family 1,924 7,860 Single Family 10,875 Single Family 1,072 17,424 Single Family 1,333 Single Family 1,430 5,748 Single Family 10,500 Single Family 2,460 8,712 Single Family 1,932 6,910 Single Family 2,260 17,860 Single Family 1,873 7,124 Single Family 7,900 Single Family 2,430 6,458 Single Family 21,334 Single Family 11,136 Single Family 2,400 5,227,200

New Sales from Saturday, January 1, 2011 to Monday, January 10, 2011

Address Unit 4800 CEDAR RIDGE PLACE 121 4800 CEDAR RIDGE PLACE 103 4800 CEDAR RIDGE PLACE 101 359 POETS TRAIL DRIVE 4800 CEDAR RIDGE PLACE 221 6040 PINE RIDGE CRES 5670 EDGEWATER LANE 105 4800 CEDAR RIDGE PLACE 104 4800 CEDAR RIDGE PLACE 108 1620 TOWNSITE ROAD 202 4800 CEDAR RIDGE PLACE 322 5650 EDGEWATER LANE 410 910 RIVERSIDE DRIVE 3040 BAY STREET 176 BIRD SANCTUARY DRIVE 1122 THUNDERBIRD DRIVE 6188 DELRAY PLACE 1535 WILSON ROAD 5112 CAROL PLACE 6015 MT VIEW ROAD 4664 EWEN PLACE 3629 GLEN OAKS DRIVE 3125 KILPATRICK ROAD

ML Number 294466 294431 294427 307536 294529 300345 303409 294433 294442 305001 294586 304990 304885 307531 304107 299180 301699 307022 307292 306417 305713 306437 304695

Sub Area BR Bth Z4 Uplands 1 1 Z4 Uplands 1 1 Z4 Uplands 1 1 Z4 University District Z4 Uplands 1 1 Z4 Pleasant Valley 1 1 Z4 North Nanaimo 1 1 Z4 Uplands 2 2 Z4 Uplands 2 2 Z4 Central Nanaimo 2 2 Z4 Uplands 2 2 Z4 North Nanaimo 2 2 Z4 Central Nanaimo 4 2 Z4 Departure Bay 4 2 Z4 University District 3 2 Z4 Central Nanaimo 5 3 Z4 North Nanaimo 2 2 Z4 Chase River 3 2 Z4 Pleasant Valley 3 2 Z4 Pleasant Valley 6 3 Z4 North Nanaimo 3 Z4 Hammond Bay 3 4 Z4 North Jingle Pot 4 3

List Price 152,900 152,900 152,900 153,900 159,900 179,900 194,900 224,900 234,900 269,900 274,900 279,900 284,900 306,000 324,900 329,000 329,900 335,000 339,900 422,400 439,900 489,500 649,900

Price Sold 152,900 152,900 152,900 151,950 159,900 173,500 194,900 224,900 234,900 264,500 270,000 266,000 270,000 302,000 318,500 315,000 321,000 340,000 339,900 410,000 470,056 460,000 630,000

Date Sold Oct 21/10 Oct 21/10 Oct 21/10 Dec 12/10 Sep 17/10 Dec 12/10 Oct 19/10 Jul 20/10 Dec 10/10 Dec 16/10 Oct 18/10 Dec 20/10 Nov 29/10 Dec 19/10 Dec 19/10 Dec 31/10 Dec 20/10 Dec 17/10 Dec 9/10 Dec 6/10 Dec 13/10 Dec 19/10 Dec 5/10

Type SqFt Fin Condo/Strata 645 Condo/Strata 645 Condo/Strata 645 Lots/Acreage Condo/Strata 645 Single Family 672 Condo/Strata 646 Condo/Strata 804 Condo/Strata 804 Condo/Strata 1,174 Condo/Strata 938 Condo/Strata 1,033 Single Family 1,918 Single Family 1,900 Single Family 2,004 Single Family 2,072 Condo/Strata 1,300 Single Family 1,459 Single Family 1,660 Single Family 2,835 Single Family 2,340 Single Family Single Family 2,802

Lot SqFt

6,458 9,750

6,970 7,500 13,419 7,632 7,944 6,770 25,700 15,531 107,593

How Are Real Estate Listing Prices Set? P r o v i d e d

You’re thinking of selling your home and you’ve looked at houses for sale in your area, you’ve looked at your BC Assessement value and you may wonder what your home is really worth. If you’ve read the article in this publication on BC Assessment you will now know that sometimes assessments are considerably lower than the value of houses and other times they are above. So how are Real Estate Listing Prices and more importantly sale prices set?

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Real Estate is called a Real Estate “Market” for a reason - in some ways it is similar to the Stock “Market” as the price that a home (and a stock) will sell for is determined 100% by what a buyer is willing to pay. When there aren’t many buyers to be found or buyers feel that house prices are too high sellers are forced to adjust their prices to determine what buyers are willing to pay. This is a very fluid, ever changing process and even varies depending on what type of property you have.

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If you have a property that has characteristics that buyers are looking for and other homes that are for sale on the market do not have this feature - if your home is priced fairly chances are it will sell quite quickly. Keep in mind that there is another very important consideration that has to be looked at - the size of the buyer pool. If your home is worth $300-400K the number of buyers capable of buying your home is much larger than if your home is priced between $500-$700K. Who can afford your home? Have a look at the inset on Page xxx which shows estimated monthly payments and annual income requirements for different mortgage amounts - would you qualify to buy your own house?

R o y a l l e p a g e n a n a i m o

OK - so there is how the process works and why prices are pushed up and down, but how are listing prices set? Since it is the market that determines what the sales price is going to be we must look at the market to see how your house compares. This is where “comparables” come in. Part of your Realtors job is to analyze the market and determine how your home compares to 1. Active Listings 2. Sold Listings and 3. Expired Listings. Comparisons are made based on the section of the City where your home is located, and the following charactistics of your home: age, condition, size, lot size, features (ie hardwood vs laminate, granite counters etc), and view to name the main features.

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A Comparative Market Analysis (CMA) is then created and reviewed with you showing the 3 closest matches to your home in each category (Active, Sold, Expired). Active listings will be your competition - depending how your home measures up to the competition will determine how quickly it will sell. Sold listings tell us what buyers have been paying for homes similiar to yours - this sets the precident as to what buyers will expect to pay for your home. And finally expired listings - these tell us what buyers are not willing to pay for a home similar to yours.

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For the next step turn to the article on How to Pick Your Listing Realtor...

How to Hire a Listing Realtor

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You’ve decided it’s time to sell your house - there are only 364 Realtors (est) in Nanaimo at the time of this writing, how do you know who is the right one for you? When it comes time to hire a Realtor the process typically is to: • • • •

Ask friends and family who they know Talk to someone who just bought or sold and find out who they used Search the Internet and survey different Realtors websites to see who’s in town Look at the Real Estate newspapers and see who is advertising

But how do you really pick a Realtor? Are all Realtors the same? Do they all do the same thing? As with any business the answers to these questions are 1. With great research 2. No & 3. No. Now that we know that not all Realtors are the same and that they don’t do all the same thing (other than sell houses - that is the same) - let’s talk about how you research a Realtor. When it comes to selling a home there are many tasks that take place - choosing the right Realtor for you will help you transition through all the tasks with a minimal level of stress. Unless you are drastically different than the rest of us most of us all enjoy life much better when there is less stress. Over the next while you will have a new best friend, this will be your Realtor. Your Realtor should be in regular contact with you letting you know what is happening with the sale of your house - showings, feedback, offers, counter offers and the goal eventually an accepted offer. We are all a little bit different so make sure when you pick your Realtor that you have a connection with him/her. Why not find someone that you like you might even end up with a new friend when the process is done. On a more serious note, when you are looking at hiring a Realtor there is really two steps to the process. The second step is typically mixed up with the first step which, in many cases, ends up causing issues. The first step is to pick your Realtor based on what they will do for you - how will he/she: market your house, communicate with you, provide feedback from showings, handle offers. You are hiring an independent business professional to do a very important job for you, that job is to sell your house. Every business professional operates differently and it’s your job to hire the best professional for the job. Once you have found the right Realtor for you (we all have personalities and some people get along better than others - remember you are going to be spending some important time with this person) then the second step is to work with your Realtor to determine what the best price is for your home. This is your money that you will receive when your house sells, have a say in the process - use your Realtor for what he/she has been trained for and that is informing you of the best possible price , marketing your home and being your agent to get the job done. Don’t make the mistake of hiring your Realtor based on what price he/she will list your home for - your house will sell for what the market says it will sell for based on your timeline. Hire YOUR Realtor based on what they will do for you.

Hot Deals on the Market P r o v i d e d

Hot deals typically don’t last very long, so the following listings may not be still around by the time you are reading this. Buyers looking for great deals usually have Realtors watching the market for them and allerting them as soon as one is found, however, a hot deal to one person may not be a hot deal to everyone else.

DOM SqFt Fin 90 1,340 41 103 1,106 24 137 1,820 88 1,030 38 2,230 94 2,064 109 133 1,790 46 30 48 1,120

Lot SqFt 10,890 8,400 12,155 8,100 11,200 9,310 4,051 7,920 24,829 9,028 9,240 17,836 10,890

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Percent 65.26% 74.32% 80.78% 85.36% 88.00% 90.32% 90.87% 91.99% 93.45% 94.39% 95.35% 95.38% 96.73%

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Assessmnt 245,000 335,000 255,000 246,000 301,000 249,000 297,000 326,000 246,000 232,000 198,200 262,000 279,000

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List Price 159,900 249,000 206,000 210,000 264,900 224,900 269,900 299,900 229,900 219,000 189,000 249,900 269,900

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Hot Deal Search - January 9, 2010

Sub Area Z4 South Jingle Pot Z4 Chase River Z4 Cedar Z4 South Nanaimo Z4 Diver Lake Z4 University District Z4 Uplands Z4 Lower Lantzville Z4 Upper Lantzville Z4 South Nanaimo Z4 Diver Lake Z4 Cedar Z4 Upper Lantzville

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Address ML Number 178 WESTWOOD ROAD 305361 1510 WILSON ROAD 307116 2346 GOULD E ROAD 304766 610 SANDY CRT 307664 2578 LABIEUX ROAD 303219 434 FOSTER STREET 305365 3978 UPLANDS DRIVE 307273 7243 LANTZVILLE ROAD 305264 8090 NORTHWIND DRIVE 304549 629 WINCHESTER AVE 303229 2380 BARCLAY ROAD 307166 2163 YELLOW POINT ROAD 307443 7478 FOREST TURN WAY 306995

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How do I determine what is a potentially hot deal? My criteria that I use is a home that is below the average sale price - currently our average sale price has been in the mid $300K range. So for a generic hot deal search I’ll scan properties < $320K. Although tax assessed values are typically useless when it comes to Real Estate sales, they do show trends as to what the majority of the market is doing for the typical home. I know from running the stats for 2010 as a whole that median percentage above tax assessed value was 5.5% - the following is a report of all current active listings as of January 9, 2010 that are at least 3% below tax assessed value (2010 tax assessments) and are priced under $320K. I’ve also restricted this search to only single family homes eliminating mobiles, condos and stratas - just my preference for this search.

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The assessment column above shows the 2010 assessment (not the 2011 that just came out). I’ve been basing all my market calculations and comparisons on 2010’s assessments, as soon as 2011’s numbers are loaded into our Real Estate systems all the averages will change - for now this is the data we have to work with.

You may be wondering how some of these listings could possibly be hot deals if they have been on the market for over 100 days - what’s not shown in this report as to when the last price reduction was. Over half of these listings have had a price reduction in the last 10-30 days. Others could have inflated tax assessed values and the fair market value could actually be lower than the tax assessed value. Some may require more work than most people are willing to put into them - if you are up for a challenge you may come out a winner. Whatever your reason for buying a hot deal is make sure you do your due diligence have an inspection and make sure you know as much as you can about what you are getting into.

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Am I right ... we’ll see next issue how many of these are still around and which ones are gone - I’ll report the status of each of these listings and what they sold for. Although not shown above, 4 of these 13 properties are court ordered sales. Next issue I’ll write about what is involved in a court ordered sale and why you should always be extra cautious when pursuing one.

4021 Departure Bay Road Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# 306014 Bedrooms: 4 Bathrooms: 4.2 SqFt: 1931 Property: 0.28 Acres Age: Unknown Hightlights:

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Hardwood Floors 23’ wide Walkin Closet Jacquizi in Master Air Conditioning 700 sqft Detached Shop In-law Suite Extensive Landscaping Storage Sunroom & BBQ Patio

This house and property has been extesnively updated far beyond what can be seen as you drive by on Departure Bay Road. An extensive renovation has turned this house into very unique home - no expense was spared. Some of the features you will find when you walk through this house include highend hardwood floors cover the majority of the home, open kitchen with unique curved cupboards, natural gas fireplace and air conditioning. The master bedroom is a massive 23’wide x 11’6 with its own jacquizzi tub. The master bedroom boasts a 23’wide x 4’deep walk in closet and a sliding glass door access to the deck. At the back of the house you’ll find a large sun room, covered BBQ area and vinyl coated deck. If you stand in just the right place you can look through the trees and see the ocean off in the distance. A more impressive view, though, is the finely manicured backyard - grass in better shape than some golf courses. The large backyard lends itself to lawn games, family gatherings and pitching a tent. Now its time to talk about the shop ... the shop is 32’x 22’and has a 14’ x 12’ overhead door. This shop could be ideal for: running a home based buisness out of, a backyard mechinic, a photography studio, or just to hide most of your stuff that you’ve acquired. With the overheight carport and gated backyard - this home has been setup for someone with all the toys - RV, Boat, Car Collection - next to the shop there is an RV Sani Dump connection as well. This house has many fine features and benefits that are hard to find all in one property. 36

Big Shop, Custom Renovated Home - $438,500 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$21,925

$416,575

$13,122

$429,697

$1,904

$84,009

10%

$43,850

$394,650

$9,472

$404,122

$1,791

$79,746

N/A

15%

$65,775

$372,725

$8,014

$380,739

$1,687

$75,847

$900

20%

$87,700

$350,800

$4,911

$355,711

$1,576

$71,675

Other Debt Payments

25%

$109,625

$328,875

$3,453

$332,328

$1,473

$67,777

Amortization - Year(s)

30%

$131,550

$306,950

$3,223

$310,173

$1,375

$64,084

Interest Rate (1)

4.04%

Floor Area

1931

$3,048

Condo Fee Heating Cost

Property Tax

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Total Mortgage

$438,500

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 37

5277 Lost Lake Road Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# Exclusive Bedrooms: 3 Bathrooms: 3 SqFt: 2822 Property: 0.37 Acres Age: 30 Hightlights:

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• Stunning Oceanviews • Ideal for Home Based Business • Rec Room in Separate part of house • Peaceful Tranquility

Pearched high on the hillside commands gorgeous views from this 2800 sqft home. As you walk in the front door you are greated by a stunning living room and as you glance out the bay windows you’ll find yourself glued to the endless view before your eyes - Georgia Straight, Snowcapped Coastal Mountains, Marine Traffic and picturesque islands. The builders of this home constructed this home to benefit from the views from within. Generous sized rooms inside and a fantastic deck that you’ll find yourself relaxing on each night. Some recent updates have been going on inside this house, the kitchen is being renovated and the dining room is having a new floor installed. This is evidence of the work that has been done over the years by the owner to keep this home in great shape. This is a very spacious house that as you tour through for the first time you may find yourself thinking that you have toured the whole house until you find that you have missed a door right at the entrance. As you enter this door the other half of the house is found. A separate entrance to the back portion of this house will have you thinking of running your home based business from this part of the house - or a hobby zone, kid zone - or even an inlaw suite. Lost Lake Road is very picturesque - reminicent of a gentle winding mountain road - you’ll feel as though you are in the country with houses nicely spaced apart providing for a level of privacy. Although you may feel like you are in the country, this home is centrally located only a few minutes away from grocery stores, schools, recreational facilities, malls, movie theatres and all that you could need. 38

Spectacular Views, Home Based Business - $439,000 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$21,950

$417,050

$13,137

$430,187

$1,881

$83,430

10%

$43,900

$395,100

$9,482

$404,582

$1,769

$79,218

N/A

15%

$65,850

$373,150

$8,023

$381,173

$1,667

$75,368

$900

20%

$87,800

$351,200

$4,917

$356,117

$1,557

$71,246

Other Debt Payments

25%

$109,750

$329,250

$3,457

$332,707

$1,455

$67,396

Amortization - Year(s)

30%

$131,700

$307,300

$3,227

$310,527

$1,358

$63,747

Interest Rate (1)

4.04%

Floor Area

2822

$3,141

Condo Fee Heating Cost

Property Tax

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Total Mortgage

$439,000

Mortgage

High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 39

3965 Hammond Bay Road Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# 306550 Bedrooms: 4 Bathrooms: 3 SqFt: 2714 Property: 0.28 Acres Age: 31 Hightlights: Spectacular Oceanviews Walk to Parks Authorized Suite RV Parking Private Yard Established Fruit Trees

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• • • • • •

A solid home with unbelievable Ocean Views of Georgia Strait and the snowcapped coastal mountains. Relax in your living room while you see the waves crash along the banks of Neck Point, entertain your guests in the dining room while watching the marine activity around shack island, invite friends over to join you watching the sky light on fire when the sunsets illuminating the horizon with rich vibrant colours. Regardless of where you sit on the water side of the house you have a clear unobstructed view of Neck Point on your left, Shack island straight ahead and Pipers Lagoon off to your right. On a clear day the Lions Gate Bridge in vancouver can be seen as can fireworks in English Bay. The remarkable oceanviews aren’t the only benefits of owning this home - this 2,700 sqft 4 bedroom 3 bathroom home has a large double car garage, additional parking beside the house, and RV parking at the lower side of the yard. This home is ideally setup to have either secondary suite for supplementary income or a home based business. Have you always wanted a pool table but never had the room? The large rec room in the basement has plenty of room. When its time to go for a walk you can wander down to Pipers Lagoon or over to Neck Point - 2 of the city’s best parks, for schools Hammond Bay school is also only a short walk away. Although there is lots to look out from the front of the house, the large backyard has its benefits too. Mature fruit trees deliver plums, apples and peaches. Large hedges and bushes create a level of privacy in the backyard as well. Regular dosage sunshine makes the back deck an ideal for soaking in the sunshine. If you are looking for 40 an Ocean View property there aren’t too many that compare to this one.

Close up Oceanview 4 Bedroom Home - $509,700 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$25,485

$484,215

$15,253

$499,468

$2,213

$97,894

10%

$50,970

$458,730

$11,010

$469,740

$2,082

$92,938

N/A

15%

$76,455

$433,245

$9,315

$442,560

$1,961

$88,407

$900

20%

$101,940

$407,760

$5,709

$413,469

$1,832

$83,558

Other Debt Payments

25%

$127,425

$382,275

$4,014

$386,289

$1,712

$79,027

Amortization - Year(s)

30%

$152,910

$356,790

$3,746

$360,536

$1,598

$74,734

Interest Rate (1)

4.04%

Floor Area

2,714

Property Tax

$3,767

Condo Fee Heating Cost

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Total Mortgage

$509,700

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High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 41

2545 Elk Trails Way Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# Exclusive Bedrooms: 3 Bathrooms: 3 SqFt: 3,080 Property: 5.10 Acres Age: 1

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Hightlights: • Private Setting • Spiral Staircase • 12’ Ceiling 3 Car Garage • Heat Pump • Low Energy Windows • Bright Skylights • Custom Kitchen • 9 New Appliances • Guest Suite with Spiral Staircase Access Have you always wanted an acrage on the edge of town? This 5.1 acre custom built home awaits your viewing just off of Nanaimo River Road a short scenic drive south of Nanaimo. South Forks Estates is only a coule years old but it is sold out and building up quickly. Those who bought parcels of this 80 acre developement are building their dream homes and mini-estates. Surrounding homes have attractive homes, swimming pools and each property has river rock iconic pillars. Only a short 15 kms from the Parkway this can be your home in the country. Custom designed and built with many very unique features. Climb the 13’ spiral staircase to the guest suite. Oak hardwood floors run throughout the home. The kitchen has 9 new stainless steel appliances, fir interior doors, chandeliers, 2 laundry rooms, 3.5 ton heat pump, low energy windows - many fine features in this very unique home. The three car garage has engineered trusses allowing the 12 foot ceiling garage to have no pillars to get in the way and a huge area for a workshop including a 3 piece washroom. If your are looking for an acrage with a house that has all the work done to it there will not be anything that compares to what is offered here. Have a look at the videos on www.danmorris.ca and book an appointment to see this home by calling Dan at (250)756 1132 or Toll Free at 1-800-377-4374. 42

Custom Built 3100 sqft Home on 5 Acres - $599,900 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$569,905

$17,952

$587,857

$2,553

$108,505

$539,910

$12,958

$552,868

$2,401

$102,788

$509,915

$10,963

$520,878

$2,262

$97,561

$119,980

$479,920

$6,719

$486,639

$2,114

$91,967

25%

$149,975

$449,925

$4,724

$454,649

$1,975

$86,740

30%

$179,970

$419,930

$4,409

$424,339

$1,843

$81,788

Interest Rate (1)

3.89%

Floor Area

3.080

$29,995

Property Tax

$3,073

10%

$59,990

Condo Fee

N/A

15%

$89,985

Heating Cost

$900

20%

Other Debt Payments

Amortization - Year(s)

Mortgage

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Total Mortgage

$599,900

High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 43

7 Pirates Lane, Protection Island Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# 304639 Bedrooms: 2 Bathrooms: 0 SqFt: 625 Property: 0.46 Acres Hightlights:

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• 174’ of Accessible Waterfront • 0.46 Acre Treed Lot • 2 Bedroom Cabin • Views of Cruise Ship Terminal (Under construction) • Sheltered Harbour

Here’s a unique opportunity to own soemthing special that isn’t commonly available. 7 Pirates Lane is located on Protection Island which is located in Nanaimo’s Harbour. This property has a 2 bedroom cabin - this is not the unique part though. The uniqueness lies in the 174’ of accessible waterfront this 0.46 acre lot has on the western side of the island. The west side of Protection Island sheltered from the battering that the east coast of the island receives. During highest tides the waters lap up against the hand assembled rock wall along the width of the property - on lowest tides the water rushes far out exposing the shale rock bed of the ocean. Looking southward from the property Nanaimo’s newest economic driver can be seen currently being constructed - the cruise ship terminal. Once complete you’ll be able to sit in your custom built vacation home looking out through the canopy of trees at the world’s largest cruise ships as they call on Nanaimo’s port releasing their thousands of passengers loose on the city. Protection Island is home to 400 year round residents with a seasonal peak of 700 residents during the summer months. The island is accessible only by boat - there is a private ferry that totts locals and guests to the island operated by Canada’s Only Floating Pub and Resturant - the Dinghy Dock pub. Have you been thinking about building your retirement home and wondering where the best place to build it would be? If you are ready to get away from the hustle and bustle of life take in a dose of Protection Island life and think about grabbing this opportunity to build your dream home here. 44

0.46 acres with 174 feet of Oceanfront - $695,000 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$25,485

$484,215

$15,253

$499,468

$2,213

$97,894

10%

$50,970

$458,730

$11,010

$469,740

$2,082

$92,938

N/A

15%

$76,455

$433,245

$9,315

$442,560

$1,961

$88,407

$900

20%

$101,940

$407,760

$5,709

$413,469

$1,832

$83,558

Other Debt Payments

25%

$127,425

$382,275

$4,014

$386,289

$1,712

$79,027

Amortization - Year(s)

30%

$152,910

$356,790

$3,746

$360,536

$1,598

$74,734

Interest Rate (1)

4.04%

630

$3,767

Condo Fee Heating Cost

Floor Area Property Tax

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Total Mortgage

$695,000

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High Ratio Mortgage Default Insurance Premiums (2)

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Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 45

5775 Alder Way Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# Exclusive Bedrooms: 4 Bathrooms: 3 SqFt: 3,350 Property: 0.34 Acres Age: 25 Hightlights:

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• Meticulously Landscaped • $100,00 Kitchen • High Sloped Ceilings • 6’ Soaker Tub • Steam Shower • Oceanview Master • Oak Hardwood Floors

Elegance - if there was only one word that could be used to summarize this home, Elegance would be the word. Oak hardwood flooring travels throughout this very special home with many vaulted ceilings, Schwartz crystal chandeliers and the finest finishing. As you walk through the front door of this home you are captivated by the fine craftsmanship found throughout the home. 4 Bedrooms and 3 bathrooms, this 3,350 sqft home has all the features you could need. The cook of the family will be astounded when they walk into the kitchen. This kitchen is any cooks dream with having $100,000 spent on it - endless custom cabinetry, a 5 burner Dacor gas range, twin stainless Dacor wall ovens, Jenn-Air stainless fridge, Blanco Stainless sinks, silestone counters and gorgeous high sloped ceilings. For an established family this home has separate recreational rooms, dining room, lower lounge and an eating room in the kitchen. The home also has a sauna, a solid oak bar and a 5’ crawl space under most of the home ideal for storage. Each bathroom has it’s own special features - glassed in steam shower with twin shower heads, heated floors, individiual hot water tanks and mapel cabinetry. For the family with teens - you will always know where your kids will alway be because they will be at home with their friends playing in the pool, relaxing in the hot tub, playing games in the rec room. You’ll be able to have a great input into their years of influence as your home will be the place to be.

Highend Executive Home With Pool - $739,900 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$702,905

$22,142

$725,047

$3,149

$134,416

$665,910

$15,982

$681,892

$2,962

$127,365

$628,915

$13,522

$642,437

$2,790

$120,918

$147,980

$591,920

$8,287

$600,207

$2,607

$114,018

25%

$184,975

$554,925

$5,827

$560,752

$2,436

$107,572

30%

$221,970

$517,930

$5,438

$523,368

$2,273

$101,464

Interest Rate (1)

3.89%

Floor Area

3,350

$36,995

Property Tax

$4,188

10%

$73,990

Condo Fee

N/A

15%

$110,985

Heating Cost

$900

20%

Other Debt Payments

Amortization - Year(s)

Mortgage

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Total Mortgage

$739,900

High Ratio Mortgage Default Insurance Premiums (2)

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Purchase Price

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Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 47

5206 Lost Lake Road Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# Exclusive Bedrooms: 6 Bathrooms: 5 SqFt: 4,500 Property: 0.36 Acres Age: 41 Hightlights:

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• Panoramic Ocean View • Brazilian Cherry Hardwood Floors • Oak Cabinets with Granite Counters • Floor to Ceiling Rock Fireplace • Formal Dining Room • Sauna • RV Parking From the moment you walk inside this home you’ll see nothing but stunning beauty! Conservatively measured at 4500 sqft, this home is a palace. Although this home fills 3 floors the main floor could be most of what you need. Before we start talking about this beautiful house let’s deal with the elephant in the room ... from nearly any room you can see it - but it is best experienced from the 2nd master bedroom on the top floor - WHAT A REMARKABLE VIEW! OK I feel better now - we’ve addressed it - on with the palace! Back to the main floor as soon as you walk into the house you’ll notice the Brazillian cherry wood flooring, the classy stairway to the top floor and the elevated formal dining room. Over 2400 sqft just on the main floor - many a room with striking views of the ocean and Coastal mountains. The focal point of the main floor is the floor to ceiling rock fireplace. The gourmet kitchen is a cooks dream with solid oak cabinets, granite counter tops, and an eating bar. Adjacent to the kitchen is a large laundry room with builting cabinets and counters. This home has many classy features and many functional ones as well. Multiple levels of decks all provide a spectacular view of the ocean. The house also has a storage space that has stored the contents of a 2,000 sqft house in the past. There are many options for this house - it would be an ideal B&B as it has an abundance of parking - or it would also be good for a large family. The owners are downsizing and many of the contents of the home could be included with the home contact Dan Morris from Royal Lepage Nanaimo Realty to arrange a viewing of this exclusive listing at 250 756 1132 48

Executive 4500+ sqft Oceanview Home - $749,900 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

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Monthly Payments

Min. Gross Annual Income(4)

$712,405

$22,441

$734,846

$3,192

$136,550

$674,910

$16,198

$691,108

$3,002

$129,404

$637,415

$13,704

$651,119

$2,828

$122,870

$149,980

$599,920

$8,399

$608,319

$2,642

$115,877

25%

$187,475

$562,425

$5,905

$568,330

$2,469

$109,343

30%

$224,970

$524,930

$5,512

$530,442

$2,304

$103,152

Interest Rate (1)

3.89%

Floor Area

4,500

$37,495

Property Tax

$4,358

10%

$74,990

Condo Fee

N/A

15%

$112,485

Heating Cost

$900

20%

Other Debt Payments

Amortization - Year(s)

Mortgage

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Total Mortgage

$749,900

High Ratio Mortgage Default Insurance Premiums (2)

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Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 49

Who Can Afford To Buy Your Home?

2 5 0 - 7 5 6 - 1 1 3 2

2. The other Realtor who can answer this question is the one with the crystal ball. If there isn’t a buyer sitting waiting for your house to come on the market you’ll have to go down the path that 99.9% of the rest of sellers go down: List it, let it be shown and let the Realtors marketing systems and Realtor.ca systems spread the news that your house is for sale. The good news is that there is a buyer for every house - the bad news is that sometimes that buyer is hard to find and sometimes that buyers highest price he’s willing or able to pay is lower than the what you are willing to accept. At this point you have two options - hang in there and wait or lower your price to a price that existing buyers are ready to pay.

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1. The Realtor who already knows of a client that is looking to buy a house just like yours and who wants to pay the same or more than what you want to sell your home for. This isn’t as rare as the sightings of unicorns, but it is pretty close. Many Realtors do have buyers that are actively looking as well as buyers that have their wishlist - when your home hits someones wishlist and you connect with the Realtor that has this connection your house will sell as quick as it is listed - and you will get what you are wanting for your house or even more.

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Now that you have determined what your house is worth and what buyers have been willing to pay the next challenge is determing how long it will take to sell your house. There are only two Realtors that can answer this question for you:

This brings us to the facts of money, mortgages, down payments and minimum annual income. All though nearly all of us desire to be independently wealthy (or even just wealthy) very few of us are, therefore, we have to rely on borrowing money in order to purchase a home. In order for a Bank or Lender to loan money they need the assurance that they will get paid - so they determine how much money a buyer must make each year in order to buy a home. See the sidebar inset to see how much money a buyer must make and pay monthly in order to hold a mortgage. The fewer the number of prospective buyers that are available leads to a potentially longer period of time it will take to find them. Typically more expensive houses take longer to sell for this very reason if they are priced at fair market value - if there is a bargain fire sale then all bets are off as a buyer with resources will buy the home and then make a profit when they sell it for fair market value. You have hear the saying that Time is Money - this is a different perspective on the saying - if you have Time you can make money. The converse is also true, if you don’t have time you will lose money as you will have to sell for whatever someone is willing to buy now.

Mortgage Amount

Monthly Payment (Est)

Min. Gross Annual Income (Est)

$100,000

$443

$20,661

$150,000

$665

$30,991

$200,000

$887

$41,321

$250,000

$1,108

$51,652

$300,000

$1,330

$61,982

$350,000

$1,552

$72,313

$400,000

$1,773

$82,643

$450,000

$1,995

$92,973

$500,000

$2,217

$103,304

$550,000

$2,438

$113,634

$600,000

$2,660

$123,964

$650,000

$2,881

$134,295

$700,000

$3,103

$144,625

$750,000

$3,325

$154,955

$800,000

$3,546

$165,286

$850,000

$3,768

$175,616

$900,000

$3,990

$185,947

$950,000

$4,211

$196,277

$1,000,000

$4,433

$206,607

Based on Current 3 Year Fixed Rate at 4.04%

Nanaimoâ&#x20AC;&#x2122;s Most Expensive Residential Listings P r o v i d e d

Nanaimo has a wide range of houses available for sale - here is a list of the most expensive houses on the market as of January 9, 2011.

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For more information on any of these listings give Dan Morris of Royal LePage Nanaimo Realty at call toll free at 1-800-377-4374 or by email at dan@danmorris.ca

7190 Royal Drive Property Stats:

2 5 0 - 7 5 6 - 1 1 3 2

MLS# 306250 Bedrooms: 4 Bathrooms: 3 SqFt: 6,220 Property: 2.54 Acres Age: 20 Hightlights:

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• River Rock Feature Fireplace • Automatic Pellet Stoves • Jacuzzi Soaker Tub • Double Car Garage • Highend Kitchen appliances and cabinetry • Forested Acreage

Handcrafted Custom Built 6200 sqft Loghouse on 2.54 Acres. You’ve seen buildings like this before, but typically only in a world class resort or lodge – where else will you find a great room with a massive river rock fireplace reaching up to the 25’ vaulted ceiling and a room large enough for 20 to 30 of your closest friends and family to dine around one table? As you tour this house, being one of the largest residential log homes on Vancouver Island, imagine how you could use each of the many rooms to fit your unique lifestyle. This home has many unique features of which I’ll describe as many as possible here – but a guided tour will be the best option to learn all about this home. Where better to start than in the Great Room where natural sunlight floods the room from the large skylights above. The focal point of the room is the beautiful river rock fireplace constructed out of whole river rocks. The fire place wood stove provides for 80,000 BTU of heat output. This home is heated by a few different methods: High Efficient Fully Automatic Pellet Stoves, Wood Burning Fireplace and Electric Heat. Unlike most houses, a log house acts as a heat sink – as the house is heated the logs (and the river rock fireplace) store heat keeping the home warm reducing the costs of heating. This log house is a scribe fit construction with insulation installed between the logs, it has also been chinked providing for the best insulation available. A house of this size provides for generous amounts of space for all the rooms. The great room is 29’ x 17’, the Kitchen is 29’ x 16’, the Den is 19’ x 11’ and the Master Bedroom is 24’ x 15. The master bedroom ensuite boasts a gorgeous Jacuzzi tub for 2 – imagine a romantic evening with the candles flickering as you sip some wine and gaze at the stars out the window. From the great room handcrafted stairs and log crafted railings lead you to the upper floor where you will find one en52room and second open loft guest room. closed

Largest Loghouse on Local Market - $874,700 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Monthly Payments

Min. Gross Annual Income(4)

$830,965

$26,175

$857,140

$3,798

$158,279

$787,230

$18,894

$806,124

$3,572

$149,774

$743,495

$15,985

$759,480

$3,366

$174,940

$699,760

$9,797

$709,557

$3,144

25%

$218,675

$656,025

$6,888

$662,913

$2,938

30%

$262,410

$612,290

$6,429

$618,719

$2,742

Interest Rate (1)

4.04%

Floor Area

6,220

$43,735

Property Tax

$4,009

10%

$87,470

Condo Fee

N/A

15%

$131,205

Heating Cost

$900

20%

Other Debt Payments

Amortization - Year(s)

Mortgage

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Total Mortgage

$874,700

High Ratio Mortgage Default Insurance Premiums (2)

Downpayment

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 53

1363 Marina Way Property Stats:

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MLS# Exclusive Bedrooms: 4 Bathrooms: 3 SqFt: 2,575 Property: 0.39 Acres Age: Unknown Hightlights:

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• Deep Water Oceanfront • Accessible Waterline • Rock Ledge Above High Tide • Inlaw Suite • Southern Exposure

Driving by this home reveals very little about what you will find inside. As you walk through the front doors you’ll be captivated by the breathtaking view of the ocean through the array of south facing windows. Characteristic beams above and vaulted ceilings in the main open living area briefly distract you as you look around. Out the door to a beautiful wrap around deck you find yourself remembering your last gathering of friends in to the late hours of the night. You head off the deck and down to the landscaped yard and by the fire pit. A gentle climb down the bank (that could easily be turned into a nice landscape tie stairway) you descend to one of the crown jewel features of this property. This property is one of only an estimated 25-30 properties on the mid-east coast of Vancouver Island that can have a legal dock installed with the capacity of mooring largest of yachts, sailboats or other marine vessels. Yet another unique feature of this waterfront property is a ~ 20’ wide rock ledge that stretches the length of the property and is only a couple feet above the high tide mark. This area could easily be developed into a spectacular area on the water’s edge ready to be transformed to where ever your imagination may lead you. This lot is .39 of an acre and the beautiful home is 2700 sqft on two levels. You will find that the home has been well cared for and has had regular updates. The chef of the family will appreciate the abundance of counter space and the open layout of the kitchen – imagine glancing out at the passing sailboats and soaring eagles as you prepare your morning coffee each day. Could this be your new vacation property where you can moor your own yacht? Book an appointment with Dan 54 Morris to see this exclusive listing by calling 1-800-377-4374. A magnificent Nanoose Bay Property.

Deep Water Accessible Oceanfront - $1,080,000 P r o v i d e d

Visit www.danmorris.ca to see: • Video Tours • HD Property Tours • Additional Photos • Interactive Floorplans of home and property.

b y d a n M o r r i s o f R o y a l l e p a g e n a n a i m o

Details

Downpayment

Interest Rate (1)

4.04%

Floor Area

2,575

$54,000

Property Tax

3,528

10%

$108,000

High Ratio Mortgage Default Insurance Premiums (2)

Total Mortgage

Monthly Payments

$1,026,000

$32,319

$1,058,319

$4,690

$190,309

$972,000

$23,328

$995,328

$4,411

$179,808

Mortgage

Min. Gross Annual Income(4)

Condo Fee

N/A

15%

$162,000

$918,000

$19,737

$937,737

$4,156

$170,207

Heating Cost

$900

20%

$216,000

$864,000

$12,096

$876,096

$3,883

$159,931

Other Debt Payments

25%

$270,000

$810,000

$8,505

$818,505

$3,627

$150,330

Amortization - Year(s)

30%

$324,000

$756,000

$7,938

$763,938

$3,385

$141,234

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$1,080,000

Purchase Price

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What would it take to buy this house?

Financial Information Courtesy of:

Barry Rathburn Manager Mobile Mortgage Specialist Mid Vancouver Island Tel# 250-954-7472 email: barry.rathburn@td.com 55

Nanaimo Real Estate Mag READY TO GET YOUR HOUSE SOLD? Call Dan Morris from Royal LePage Nanaimo Realty to get your house on the track to being sold. Listings signed before the end of each month will be included in this publication the following month. To arrange an appointment call Dan Morris at 250-756-1132.

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