Low Lot Inventory Spurs on Higher Prices for New Single Family Homes

Posted on Apr 19, 2017

We have seen unprecedented frenetic activity in the new home market during the past year, due mostly to the low inventory of new lots in both the Comox Valley, the Comox Valley Regional District and Campbell River.

New subdivisions are being designed and plans are being submitted to the various municipalities for approval. Builders, eager to build new homes for clients are contacting developers directly to get their names on reserved lists for when the properties are registered.

Lot prices in the Comox Valley and the Campbell River area have risen substantially due to the shortage of lots. Prices in Campbell River range from approximately $90,000 to $200,000; the higher prices account for lots that feature ocean views or are larger in size. Prices in the Comox Valley range from approximately $140,000 to $225,000. These prices are the average price range of lots and there are some lots that may be a little less expensive and some that are more expensive, based on location and size of lots.

One trend we are seeing during the past year is the popularity of lots zoned to include secondary suites, also known as in-law suites or legal suites. Lots that are zoned to accommodate this type of home, is typically selling for about $20,000 to $30,000 more than the lot zoned to allow for the construction of a single-family home.

Different municipalities track secondary suites in a variety of ways. For example, if a lot is zoned to allow for a secondary suite, then it is usually not reported in the building permit statistics, only the value of the home is reported. However, if someone is adding a secondary suite, once the home is built, or the owner is required to report it to the municipality, then that information is released.

Our research shows an approximate 40 per cent increase in the creation of secondary suites in the Comox Valley and in the Campbell River region in 2017 compared 2016.

Both communities continue to show an increase in the average sales price. For March, 2017 the average price was up 18 per cent to $465,892. Campbell River was very similar with a 19 per cent increase to $399,456.

The vacancy rate in the Vancouver Island rental market is at a record low level and this is certainly the case for Campbell River and the Comox Valley. This fact is pushing rents up and is forcing more buyers into the market. In some cases, it is cheaper to own than it is to rent. There are still some older, less expensive condominiums to be found, around the $130,000 to $150,000 range if someone is looking to invest in the market.

Clarice Coty is the editor of Building Links.
Contact: clarice@buildinglinks.ca
or find Building Links on Facebook

Originally printed in Business Vancouver Island, April 2017 Edition.

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Reserve Your Lot in Crown Isle and Select A Builder For Your New Custom Home

Posted on Apr 14, 2017

Due to unprecedented sales of lots and new homes in the Crown Isle Community on Vancouver Island, this golf course development is moving ahead to develop three more subdivisions.

The developers are planning an additional 150 new lots in the next few years years. Contact the real estate team at Crown Isle to add your name to their growing list of potential new Crown Isle homeowners for one of these new subdivisions. Or if you’re ready to start building now, they can assist you with selecting a lot from their existing inventory.

The Crown Isle development is ideally situated in Courtenay in the Comox Valley. Built around a championship 18-hole golf course, the community is conveniently located next to shopping, schools, community amenities and even the new Comox Valley Hospital.

The Crown Isle real state team can also assist you with selecting one of the premier builders who are building new custom homes within the community.

Contact them now for more information.

Jason Andrew, Director of Sales
Phone: 250.207.0070
Email: jandrew@crownisle.ca

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Back Yards are Blooming at The Ridge on Vancouver Island

Posted on Apr 12, 2017

Spring comes quickly to Vancouver Island, and with it the spectrum of colour that fills gardens and planter boxes. Rhododendrons and Azaleas thrive in the mild West Coast climate and are blooming shortly after the spring daffodils and tulips make their appearance.

While the Island is green year round, spring gardens burst into bloom earlier here than anywhere else in Canada!  With large yards at The Ridge subdivision, gardeners can plant flowers, shrubs and trees to their heart’s content. Design your landscaping to showcase year-round colour, and still make it as low maintenance as you wish.

The Ridge community has 20 new homes under construction in  Phase I and preparing lots for Phase II. With new residents already enjoying their spacious properties, contact us to learn more about building your new custom home at The Ridge.

Contact: Bruce Clapham
Mobile: 250.650.8588
Email: theridge.bruce@mail.com
Web: TheRidgeBC.com
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Choose Experienced Realtor Art Meyers for Your Real Estate Listing in the Comox Valley

Posted on Apr 12, 2017

The Comox Valley has seen a recent boom in real estate sales, with no slow down in sight, as new building lots and existing homes are selling quickly. In such a busy market, both buyers and sellers can benefit from the guidance of an experienced Realtor. Listing your home with an experienced realtor who knows the community can earn you more money on your home sale.

Thinking of Selling Your Home?

Call Art Meyers, Realtor with Royal LePage in the Comox Valley. Art has 45 years of experience in the real estate business in the Comox Valley. He is one of the most successful and experienced Realtors serving Comox, Courtenay, the Comox Valley and Cumberland. As strong community supporter, Art Meyers has been active in Rotary, The Comox Valley Community Foundation and The Community Justice Centre.

Call Art today for your free Comparative Market Analysis.

Contact Art Meyers, Experienced Realtor in Courtenay and the Comox Valley

Email: artmeyers@shaw.ca
Phone: (250) 207-1879
Royal LePage in the Comox Valley
#121 – 750 Comox Road, Courtenay, BC  V9N 3P6

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Contemporary? Modern? Let Homes by Crown Isle Guide You in the Language of Home Design

Posted on Apr 8, 2017

When you think of building your dream home, you may use design words like Modern or Contemporary to explain your vision to your builder.

But did you know they can mean two very different things? Modern design refers to a period of time – it is a design style that was created in the 1920s-1950s. It doesn’t change, it is a defined style, and will remain such forever.

Contemporary design however is ever-changing. It is of the moment. Today, many elements of modern design are incorporated into contemporary construction, so the meanings can overlap.

Modern really refers to “Mid-Century Modern.” It is recognizable by its clean, unadorned interiors. We often now refer to modern interiors as “retro.”

Contemporary design refers to what is popular or used right now. Contemporary design can be very eclectic, because it is ever-changing and borrows pieces and styles from different eras. For example, furniture and art from the modern era are often used in contemporary design, and traditional mouldings and millwork are also incorporated in many cases.

It important to be able to discuss with your builder and interior designer what style you are after, to create your true dream home.

Many homes by custom home builder Homes by Crown Isle are built in a “West Coast Contemporary” Style, which is the preferred style throughout the master-planned Crown Isle golf community.

As the premier builder in Crown Isle, Homes by Crown Isle will take the time to understand what style of home will suit your lifestyle and has the experience to bring your vision to life.

Contact them today to learn more about available lots and the construction process.

Builder: Homes by Crown Isle
Vice President, Construction: Jayson Welsh
Mobile: 250.207.0418
Email: jwelsh@crownisle.ca
Office:  Michelle Bazett
Phone: 250.703.5057
Email: mbazett@crownisle.ca

Website: www.crownislehomes.com

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