In the past six months, 111 single family (freehold) homes have sold in Powell River. Currently there are 129 such homes for sale. The chart shows a breakdown by price range. As you can see, the majority of our sales are between $150,000 and $300,000. This suggests what buyers are looking for and expect when buying in Powell River. You can also see that the current market has lots to choose from in that price range. At the top end of the price range, we have lots of newer, more expensive homes to choose from as well with typically fewer buyers looking. That’s good for buyers. At the lower end there are fewer homes for sale and typically more buyers looking. This makes sellers happy!
Sales generally have been steady through the Fall and things look good for the immediate future. If you’re thinking of selling, please give me a call. (604 223-0811)
Roof, Wiring and Insulation…
Getting pre-approved for a mortgage is always a good first step if you’re thinking of getting into the real estate market. Rachelle Ford (604 414-5189) who works out of our Coast Realty Office here in Powell River would love to help you get started by finding the best financing solutions for your home purchase!
Getting home insurance isn’t always as simple as it might seem. Some of the homes in our popular price ranges may have roofs that are at the end of their lives which creates risk for insurers. You may be required to get or promise to get a new roof before you’ll be insured. Houses wired with knob and tube or aluminum wire can be an insurance issue as well. Vermiculite insulation which was common in the 50’s and 60’s is beginning to create difficulties with insurance too.
If you’re getting started on the home buying process, I recommend checking out the local insurance companies to find out ahead of time what to look for as you begin the hunt. “Forewarned is Forearmed!”
In BC, we have a very good process for transferring title when you buy and sell a home. Here’s what the Vancouver Real Estate Board says about Title Insurance: “But British Columbians can buy and sell property with confidence that they’re not at risk.” The Real Estate Board’s position is that consumers can decide for themselves whether there are benefits to having title insurance.
Title is the evidence of your legal ownership of property – in this case, your new home. The previous owner signs the deed for the property over to you upon closing, and your title over the property is then registered with the provincial government. During the pre-closing process, your lawyer will conduct a title search to find out if there are any issues that need to be resolved before closing can go ahead. Title insurance covers you if any future issues arise that are not discovered during the title search process. These issues can include encroachments, liens against the property, errors in the property’s survey or title fraud.
Title insurance usually costs around $300, and must be purchased in addition to your general home insurance coverage. It is generally purchased at the time you buy your home, but existing homeowners can also purchase title insurance (the policy and premium differ slightly).
If you haven’t heard of it before, check into it ahead of time, so you can make an informed decision before being under the pressure of other expenses adding up at the time of purchase.
Easy Market Entry…
- Very affordable condominium in Powell River’s Townsite
- 2 bedrooms, 1 bath,1004 sq ft
- Quiet neighborhood, no yard; no mowing!
#301-5701 Willow Ave
Call me for a showing!