Here are 10 New Year’s Resolutions for your home to help spruce it up and maintain it. 

1. Declutter Quarterly: Rather than waiting to do a big Spring clean once a year, declutter every few months to prevent things from accumulating. Decluttering can be overwhelming so tackling it more frequently can make this job less daunting. 

2. Give Your Fridge and Freezer a Clean Out: Get rid of any expired food and give your fridge a good clean. When washing out your freezer, make sure to wipe it completely dry to prevent ice buildup. 

3. Clear out your Food Cupboards and Pantry: Toss out all the stale and expired food and restock the staples. Any non-perishables that you no longer want or use, donate to your local food bank.

4. Schedule Maintenance Jobs: Figure out which jobs are overdue and schedule them. E.g. have your chimney cleaned, get your furnace filter replaced, get the moss removed off your roof and eaves cleared out. 

5. Finish any Renovation Projects: Complete any unfinished renos that have gone on far too long undone. 

6. Minor Maintenance: Replace any burnt out light bulbs, fill in small dents or scratches in the walls, and give your home a paint touch-up.

7. Give the Front of your Home Some Curb Appeal: Spruce up the front of your home by pulling out any dead plants, cleaning off the sidewalk and driveway, putting some planters by your entrance, giving your house siding a wash, and painting your front door.

8. Create a space that feels like home: Make your house feel like home. Add colourful pillows, house plants, mood lighting, or candles. 

9. Get Organized: Invest in storage bins to keep things from getting misplaced or left out in the open. 

10. Go through your wardrobe: Donate or sell any items of clothing that you do not wear anymore.

The third quarter of 2023 in Powell River, BC took a slight dip compared to the second quarter. Let’s take a look at the numbers.

Property Sales in Powell River compared to the second quarter and the third quarter of 2022.

The average sale price from June 1st to September 30th was $576,167 and the gross amount of sales was 93. The second quarter of 2023 had an average of $654,759 and 119 sales. There was a 12% drop in average sale price from the second quarter to the third quarter and 24% drop in the amount of properties sold. Taking a look at the third quarter of 2022, there were 87 properties sold with an average sale price of $614,418. 

Now let’s compare how quickly homes sold for by looking at how many sold within the first, second, third, and fourth week of the property being listed for sale:

The third quarter of 2022                                                       The second quarter of 2023

 Properties sold in 1 week: 12                                                   Properties sold in 1 week: 4                                     Properties sold in 2 weeks: 16                                                 Properties sold in 2 weeks: 12                               Properties sold in 3 weeks: 13                                                 Properties sold in 3 weeks: 15                                     Properties sold in 4 weeks: 14                                                 Properties sold in 4 weeks: 17

The third quarter of 2023                   

Properties sold in 1 week: 2                                                                                                                                          Properties sold in 2 weeks: 11                                                                                                                                      Properties sold in 3 weeks: 6                                                                                                                                        Properties sold in 4 weeks: 13

Interest rates according to the Bank of Canada

Let’s take a look at how the interest rates have changed compared to the third quarter of 2022 and the second quarter of 2023.

July 2022: 1.50                                   April 2023: 4.50                             July 2023: 4.75

August 2022: 2.50                              May 2023: 4.50                              August 2023: 5.00

September 2022: 3.25                      June 2023: 4.75                             September 2023: 5.00

If you want to stay up to date on sales in Powell River, BC, be sure to follow my Instagram or Facebook: 

https://www.instagram.com/powellriverrealestate/

https://www.facebook.com/Realtorpowellriver/

   Apart from putting out the pumpkins and putting up the Christmas lights, there are a few things you should do to get your home ready for the Fall and Winter months. Keeping your home maintained will help with the longevity of its systems and structure. 

1. Clean and inspect your fireplace and chimney.

2. Clean out the gutters and make sure the perimeter drains are not blocked.

3. Trim tree branches near the house to avoid damage to the roof.

4. Avoid cold drafts by replacing dry or damaged weather stripping on all doors and windows.

5. Shut-off and drain outside faucets.

6. Service your furnace.

7. Test your smoke and carbon monoxide detectors.

   Along with your home’s structure and systems, there are also exterior equipment and items that should be prepared for the cold months.

1. Winterize your pool and/or hot tub.

2. Store or cover outdoor furniture.

3. Drain the gas from your lawnmower.

4. Properly store propane tanks from barbeques and fire pits.

5. Store any power equipment in your shed or garage.

   A common question among many is, “How do I know if I am ready to get into the market?” The first and most obvious answer is, when you are financially ready. So how do you determine if you are financially ready or not? CMHC recommends that your monthly housing costs should be no more than 32% of your average gross (pre-tax) monthly income. Keep in mind, on top of your mortgage payments, you will also have insurance, property taxes, and utility bills. Additionally, you will also need a down payment. A down payment is the amount of money that you put towards the purchase of a home. You’ll want to plan on saving about 5%-20% of the purchase price. For example, if you’re buying a home for $450,000, you’ll need to save up 5% which is $22,500. If you’re buying a home for $700,000, you’ll calculate 5% for the first $500,000, and 10% of the remaining balance to find that you’ll need to save $45,000.

   Once you have figured out that you are financially ready, find out when the right time is. Some factors that may have you looking for a home sooner than later could be that your rental lease is up, job relocation, or an addition to your family. If you are in no rush, a deciding factor may be the market, interest rates, or simply waiting for the right home to come up.  

   If you're waiting for the right time in the market, Winter may be the time for you. There tends to be a lower average list price and less competition. However, there aren't as many options as there are in the Spring. So it really depends on if you’re looking for a fair deal or your dream home. 

   Finally, are you ready for the responsibilities that come with owning a home? You may not have the same financial freedoms as you did before. Not only will you have larger monthly expenses but you will also need to have a reserve fund. If a “big ticket item” needs to be replaced, it could cost you a lot. For example, if your roof needs to be replaced, it can cost anywhere from $10,000 to $40,000. Seasonal responsibilities may include cleaning out your gutters, lawn mowing, and repairs. 

Here is a great site for more information on homeowner responsibilities: https://www.incharge.org/housing/homebuyer-education/homeownership-guide/responsibilities-of-a-new-homeowner/

If you’re thinking about getting into the market for the first time, reach out and I will send you a copy of my Home Buyer’s Guide: kindrebo@460realty.com

The second quarter of 2023 has come and gone. Let’s take a look and see how it compares to the first quarter of this year and the second quarter of 2022.

Property sales in Powell River BC compared to last year and the first quarter of 2023

The average sold price from April to June 2023 was $654,759 which is over a $100,000 decrease compared to 2022 which was $762,506. The second quarter of 2022 had 224 listings processed and 153 gross sales. This year, there were 244 listings processed and 119 gross sales. Sales have gone down compared to last year and they didn’t sell as quickly as we can see below.

The second quarter of 2022                                                     The first quarter of 2023

Properties sold in 1 week: 16                                                   Properties sold in 1 week: 4

Properties sold in 2 weeks: 26                                                 Properties sold in 2 weeks: 2

Properties sold in 3 weeks: 16                                                 Properties sold in 3 weeks: 7

Properties sold in 4 weeks: 21                                                 Properties sold in 4 weeks: 8

The second quarter of 2023

Properties sold in 1 week: 4

Properties sold in 2 weeks: 12

Properties sold in 3 weeks: 15

Properties sold in 4 weeks: 17

Interest rates according to the Bank of Canada

Let’s take a look at how the interest rates have changed compared to the second quarter of 2022 and the first quarter of 2023.

April 2022: 0.50                          January 2023: 4.25                             April 2023: 4.50

May 2022: 1.00                          February 2023: 4.50                            May 2023: 4.50

June 2022: 1.50                         March 2023: 4.50                                June 2023: 4.75

If you want to stay up to date on sales in Powell River, BC, be sure to follow my Instagram or Facebook: 

https://www.instagram.com/powellriverrealestate/

https://www.facebook.com/Realtorpowellriver/

Staging your home is one of many ways to increase your home value. Here are some tips on what you should focus on so your home appeals to buyers.

1. Curb Appeal: The exterior is usually a buyer’s first impression of a home. Keep it neat and tidy. Put away any lawn equipment and clutter. Give your landscaping some love, get rid of weeds, add some colourful plants, and mow the lawn. Wash or repaint the siding of your home to keep it looking fresh and maintained.

2. Depersonalize: Remove personal and family photos from sight and tuck away any personal belongings. There are two reasons for doing this. One, to protect the privacy of your family and two, it helps buyers visualize themselves in the home.

3. Declutter and Deep Clean: Not only should you do a full tidy of your home but also make sure it is cleaned well. If there is any signs of mould in the kitchen or bathrooms that will concern prospective buyers to think that there is a bigger problem

4. Neutralize: If you are looking to bring in furniture or art to stage your home and get it ready for photos and showings, keep it neutral. Stick to light and earthy tones. Stay away from bright colours and patterns as it can look overwhelming and take away from the space. Dark colours can make a room look small, however, using dark fixtures like taps and cabinet hardware can be nice accents.

5. Adding to your space: You may be wanting to add to your space to make it more inviting. Plants are a great option. Placing a bouquet on the kitchen counter or some low maintenance tropical plants throughout your home can make a great difference. Having candles or minimal decor are also a good way to add to a space. If you’re looking to bring colour to a room, keep it simple, use throw pillows and smaller items.

6. Lighting: Lighting will help create a more welcoming, bright, and spacious feeling. Take advantage of the natural light in your home, keep all the blinds and curtains open for when photos and showings take place. Turn on all lamps and lights, even in closets and pantries. 

From the ocean to the mountains, there are so many adventures to go on in Powell River and the surrounding areas. I am going to cover everything from outdoor experiences to local businesses.

Let’s start up North in Lund, where Highway 101 ends and the fun begins. For the people looking for outdoor adventure, here are some of the activities you can do:

• Take a water taxi over to Savary Island.

• Go on a guided kayak tour of Desolation Sound.

• Get boated up to Sarah Point where you can begin your hike of the 180 km hut-to-hut Sunshine Coast Trail. This is Canada's longest hut-to-hut hiking trail.

• Visit Okeover Arm Park or camp overnight 

• Book a cruise with a charter company to go on a fishing trip, a lunch/dinner cruise, or a boat trip up to see Cassel Falls.

• Hike around Dinner Rock

For those looking for something else to do:

• Grab a bite to eat at Nancy's Bakery

• Go for a fancy meal at Laughing Oyster

• Book a couple nights at the Desolation Sound Resort

Making our way back into the City limits, there are tons of family friendly activities to do:

• Visit Willingdon Beach for the water park, trails, a beach day, the playground, and camping

• Get some fresh homemade ice cream from Fresh Scoop

• Go for a game of mini golf and end with ice cream at Putters

• Rent paddle boards from Palli Paddle Boards

• Walk the Sea Wall

• Explore the Penticton and Millennium Trails

• Go to the skate and bike park at the Complex

• Take a stroll down Marine Avenue and stop into a local shop, cafe, or restaurant

• Take the ferry over to Texada Island

• Go to Townsite Brewing and enjoy the outdoor space where kids and dogs are welcome

If you’re wanting to head to the trails and lakes, here just some of the many:

• Mowat Bay > Dock, beach, playground, boat ramp, trails, swimming

• Haywire Bay > Campground, beach, boat ramp, grilling pit, trails, swimming

• Inland Lake > Campground, dock, boat ramp, trails, swimming

• Haslam Lake > Trails, swimming

• West Lake > Trails, swimming

• Edgehill Loop > 4.7km, moderate 

• Gallagher Hill > 5.1km, easy

• Mud Lake Loop > 6.1km, easy

• Blue Trail to Hammil Lake Loop > 12.1km, moderate

• Hammil Lake Hill > 3.5km, moderate

• Valentine Mountain > 1.4km, easy

• Malaspina Switchback Trail > 6.9km, easy

• Scout Mountain > 4.7km, moderate

• Blackwater Creek Trail > 4.2km, easy

• Cable Trail Loop > 7.2km, moderate

• Mount Troubridge > 12.7km, hard

• Tin Hat Mountain > 9.6km, moderate

• Mount Mahoney Trail > 21.9km, hard

• Rainy Day Lake > 8.2km, easy

• Manzanita Hut > 10.3km, moderate

• Stillwater Bluffs > 3.1km, easy

Finally, let’s head South of the City towards Saltery Bay:

• Go golfing at Myrtle Point Golf Club

• Visit and walk around the Lang Creek Fish Hatchery

• Swim at Eagle River Waterfall

• Spend the day at a beach: Mahoods, Donkersley, or Palm Beach

• Go on a private farm tour at Three Chicken Farm

There are so many possible summer activities to do in Powell River that they won’t all fit into this one blog post. The trails are endless, we have 32 lakes to explore, and so many fantastic local businesses.

2023 has brought a lot of change to real estate. If you want to know about prices, interest rates, new regulations, and housing trends, then this article is for you.

Property sales in Powell River BC compared to last year

The first quarter of this year has been significantly slower compared to last year. From January to March of 2022, there were 171 listings processed and 144 total sales. This year, there were 143 listings processed and only 74 total sales. That is a 48.6% drop in sales compared to last year. 

We can also see how much slower the market is this year by comparing how quickly properties sold.

The first quarter of 2022:                                                        The first quarter of 2023:

Properties sold in 1 week - 19                                                Properties sold in 1 week - 4

Properties sold in 2 weeks - 40                                              Properties sold in 2 weeks - 2

Properties sold in 3 weeks - 10                                              Properties sold in 3 weeks - 7

Properties sold in 4 weeks - 16                                              Properties sold in 4 weeks - 8

Last year there was an average sale price of $620,532 and this year, there was an average sale price of $592,950.

Interest rates according to the Bank of Canada

The increase of interest rates in the past year has been the highest they have been since 2007. While this isn’t the highest interest rates have risen, it certainly has created some stir.

January 2022: 0.25                                                                                  January 2023: 4.25

February 2022: 0.25                                                                                February 2023: 4.50

March 2022: 0.25                                                                                    March 2023: 4.50

New regulations introduced to real estate 

January 1st: Foreign Buyer Ban

January 3rd: Home Buyer Rescission Period

For information on these, take a look at my previous blogs.

2023 housing trends

Exterior:

• Indoor-outdoor flow: Bring the furniture and rugs out!

• Earth tones: Brick work, wood accents, and earthy paint colours.

• Sustainable materials: Solar panels and long lasting housing materials.

Interior: 

• Bold statement stone: Use quartz or marble as countertops to make a statement.

• Moody jewel tones: Accents of emerald green or sapphire blue give a rich feel.

• Mixing wood tones: Mix up the wood for accent walls and furniture.

Decor:

• Sustainable materials: Wooden pieces and stone bowls.

• Statement rugs: Fun coloured and patterned rugged used as functional art.

• Black fixtures and details: Lights, door knobs, taps, and more!
  

Keep up to date with housing trends by following my Instagram or Facebook.