The year 2017 has arrived and we look forward to an exciting and prosperous year ahead! We hope the coming year is one that rewards all your future endeavors with success, prosperity, good health and happiness.
As we reflect back on 2016, we’ve seen some of the lowest numbers of inventory in decades in all categories; single family homes, condominiums, townhomes, patio homes and even lots. The buyer pool has been active and with the lack of inventory, it created a challenging market for the buyers, limited properties to choose from on the market and lots of multiple offers driving the prices up. It has been a brisk market for the sellers with lots of activity and often more than one buyer offering on their home putting our sellers in a very good position.
With the government’s new regulation on borrowing, tightening up the insured mortgages and the 15% foreign buyer’s tax imposed on the lower mainland, the future is hard to predict. One thing is for sure, Nanaimo and its surrounding areas have certainly become recognized as very good value in comparison to Vancouver and Victoria. We’d like to think the real estate industry will continue to do well, just maybe with a little more balanced market than what we have experience this year - that is yet to be determined.
Debbie, our trusted assistant, keeps the office running like clockwork and we could not do what we do without Debbie’s hard work both on the front line and behind the scene.
Our business has had another remarkable year largely due to our past and present customer base, a huge part of our business is from referrals and repeat clients.
The New Year is the time of realizing dreams and discovering new strengths to follow them. Our wish to you is one of good health, happiness and success in 2017. We truly appreciate your loyalty and trust in sending your colleagues, friends, and family members to us to take care of their real estate needs. We can’t thank you enough, you truly help us to succeed.
Dave, Brian & Debbie