Festivities to Follow
Residential sales for November in the Powell River real estate market were at 31 which is
up from October at 22. Sales this fall are down from last year this time, but sales over the year to date are up 11%. It continues to be a seller’s market with fewer listings to choose from and eager buyers watching. Generally, listings are selling more quickly with an average number of days on the market at 21 for November. Homes have been selling for 98% of the list price on average this past month as well. Sales are generally slower in December and January as Buyers and Sellers spend more time in festivities and wait to see what the spring will bring.
Aging in Place
Eighty-five percent of Canadians would prefer to “age in place”. That means staying in the same house or community or even city when you retire and grow old after that. There are many options and considerations for aging-in-place, not the least of which is financial. Forty percent of the population say they lack the confidence to make good financial decisions and 50% of Canadians are not confident about their retirement income. Start planning early is the advice I received from a recent CMHC webinar that I attended. When you hit retirement age, your net buying power tends to decrease over time, so if it’s renovations to your existing home, a move or retirement planning it’s best to consider options and even take action earlier rather than later. CMHC has some great information on their site: https://www.cmhc-schl.gc.ca/en/co/acho/index.cfm
Where Do You Get Your Financial Advice?
I subscribe to a “Community Impact Blog” sponsored by First Credit Union. The November issue asks where you go for financial advice. My take-away from it is that it’s worthy of a little further thought. There are several places we can go (parents, friends, professionals, internet) and most of us tend to go to the same places because we’re comfortable with them. If I think about it, it may be wise for me to branch out and get a better variety of information particularly if my source may have it’s own limitations or biases. Here’s the link to the blog:
Golden Life is Coming!
Golden Life, a “leading provider of seniors living communities”, in partnership with Inclusion BC is building a 75 unit seniors community on the vacant land immediately adjacent to the Evangel Church on the upper end of Joyce Ave. A presentation was held last month to get feedback from local seniors and we’re expecting more information on pricing, size and other details in the next month or so. It sounds like the plan is to begin building by mid 2017. Units will be approximately 500, 750 and 800 – 1000 sq. ft rentals for “independent living” with lots of amenities available on site. I’ll pass along more information as I receive it. For more information about Golden Life villages, check their web site at http://goldenlifemanagement.ca
Wishing You All the Best!
I wish you a very Merry Christmas and a prosperous New Year.
I appreciate your taking the time to read my newsletters and I would love to have the opportunity to help you with any of your real estate needs.
Bill
Powell River Real Estate Tid-bits 