Good vibes only this month. There is so much heavy real estate news. Some good news, but a lot of heaviness restriction Canadians in the real estate purchases.
Weed, Mary-jane, marihuana, cannabis and real estate
Weed, Mary-Jane, skunk, marihuana, pot, reefer, dope, ganga, and herb are just some of the names used in place of cannabis. It has been over one year since Cannabis was legalized in Canada. What does that mean for the world of real estate? What does it mean if you are selling or buying?
How many cannabis plants is a person legally allowed to possess? The answer is four; 4 plants per household. Even if there are four adults living in your home, the math does not add up to 16. It still adds up to four.
Now, the trouble arises when marihuana is grown in a home or outbuilding. When in was policing and working in a drug section, I remember, dealing with, and dismantling major grow operations. From electrical bypass to automated water cycles going 24 hours a day, 7 days a week for 90 days. Harvest. Then start again. Chemicals, water, and electricity pumping through a home. All of these things makeup a grow operation and can directly impact the integrity of your home, or the home you may purchase. Some of these issues are:
· Chemicals in the air can affect the air quality in the home;
· the moisture produced from the operation produces moisture and can lead to mold, health concerns due to air quality, and structural issues with excessive moisture
· illegal grow operations often have electrical and structural alteration in the home. obviously leading to other potential safety issues
Even though marihuana is legal, sort of, due to the strict limits and guidelines, illegal grow operations still remain prevalent. This means that disclosure of grow ops when selling real property is paramount. As a buyer, that is aware there was a grow op in a home, you and your agent need to make all reasonable efforts to inspect the property to find if there are any implications.
As a seller, you will have to disclose to your agent, and determine whether you are dealing with a material latent defect or not. This is a whole different topic. But failure to disclose a latent defect can lead to potential legal liability. A latent defect is something that effects the
Let me know if you have questions about this. Or get legal advice before listing / buying real property that is affected by a marihuana grow operation.
As for Organized October, unfortunately, my tidying efforts are still ongoing. Don’t get me wrong, I am loving the results of this process. But it ain’t easy. It is a little overwhelming to say the least. I deviated from her checklist. Big mistake. In turn I was wandering around tidying a closet or drawer here and there. So, I am back on track. Today I will be tackling my pantry. My pantry is huge and is a proverbial dumping ground for everything. From plastic bags, to thrift store boxes & empty wine bottles, baking supplies, and all our snacks.
Shannon Cutler @ Macdonald Real Estate Group.
Realtor® Vancouver Island, BC.
Realtor® life
Realtor® life
Part of a being a good Realtor® is being knowledgeable in your community. Knowing the answers when people ask them: Where do I take my dog to the vet; Where do I find a good Americano? Is there a good French Immersion school nearby? Do you know a babysitter? The list goes. From septic field cleaning to coffee and wine drinking..
I am constantly out and about. If you know me, you will know I can’t sit still for long. Even while writing this I will likely get up three times. Moving around allows me to get out and learn about my community. It provides me the opportunity to enjoy what Parksville, Qualicum, Nanaimo, and surrounding area has to offer.
For example, this week I purchased client housewarming gifts. I like to buy local. Most of my client gifts I buy from Robert Held Art Glass. He is a glass blower and creates one-of-a-kind glass pieces for every taste and season. I can find a piece for everyone. I have clients who are millennials and have made a giant bar in their home. For them I was able to find a galaxy ball for this space in their new home. For my lovely friend who referred them to me, I was able to find a classy piece to hang in a window. Robert Held Art Glass even has a glass blowing experience where you can participate. I often take my kids in their to watch the process. Don’t miss it!
On another day this week I hiked up Notch Hill in Nanoose Bay, BC. It is a 35-60 minute hike that loops around giving unobstructed views of the mountains and Nanoose Bay. This is a dog and child friendly hike but is a pretty good climb. Taking the lower ridge (left at the fork) will allow for a more gradual climb rather than straight up. The parking lot is easily accessible from Powder Point Rd (right hand side). Climb and enjoy!
My handsome hiking partner Crosby!
What is it that you want to know about? I love it when people call, DM, or email me with questions about the area. If I don’t know, I will research it or I will go try it. Any excuse for me to go eat, drink, run, or experience something new. I am in!
Real estate market information is not enough for people. Those that trust me with their real estate needs, trust me to find the right fit for their lifestyle. I call myself a lifestylist! Shannon Cutler Realtor®, community expert, and lifestylist. I like the sound of that!
Real Estate Market Statistics - Vancouver Island
6100 Garside Road New single family home 4 sale
Our March 2019 statistics show that sales of single-family homes board-wide dipped by 23 per cent year over year. The good news is that March delivered a 36 per cent increase in home sales over February.
Last month, 309 single-family homes sold on the MLS® System compared to 399 in March 2018 and 227 in February. In the apartment and townhouse categories, sales dropped by 10 per cent and 30 per cent, respectively.
Housing sales have weakened throughout most of the province, which BCREA largely attributes to the mortgage stress test (Guideline B-20). In the VIREB area, the stress test is helping reduce demand for higher-priced properties and pushing buyers towards less expensive homes. In turn, this is compressing the lower end of the market.
THE NUMBERS: MARCH 2019
Active Listings Year Over Year
Single-Family - up by 20 per cent (976 to 1,172)
Apartments - up by 20 per cent (237 to 284)
Townhouses - up by 24 per cent (148 to 183)
Benchmark Prices: Board-Wide
Single-Family - $510,800 (6 per cent increase)
Apartment - $319,800 (8 per cent increase)
Townhouse - $414,700 (8 per cent increase)
Benchmark Prices: By Zone
Campbell River - $417,200 (8 per cent increase)
Comox Valley - $507,100 (8 per cent increase)
Duncan - $471,500 (5 per cent increase)
Nanaimo - $554,300 (4 per cent increase)
Parksville-Qualicum - $577,300 (4 per cent increase)
Port Alberni/West Coast - $299,400 (8 per cent increase)
Month over month, Campbell River, Parksville-Qualicum, and Port Alberni saw modest reductions in their benchmark prices while Comox Valley, Duncan, and Nanaimo recorded small increases.
Trend-wise, VIREB’s housing market has transitioned from one favouring sellers to one that is balanced or near balanced.
Source of Info: Vancouver Island Real Estate Board, April 2019 (http://www.vireb.com)