The terms “patent defect” and “latent defect” are important in real estate. A patent defect is a flaw in the structure or property that is plainly evident during a reasonable inspection. The general rule is when the defect is obvious, like a cracked window, the seller has no obligation to point it out. A latent defect is a flaw in the structure, land or title of a property that is hidden and not easily discoverable during a reasonable inspection. Sellers must disclose the existence of all known latent defects in writing, especially if they are serious or “material” like an unregistered easement, before the buyer makes an offer. If they don’t and it can be proved they knew of the defect, the buyer may rescind the contract and pursue additional action for damages. The seller’s agent is under the same obligation. They must disclose in writing to the buyersagents any material latent defects before the buyer makes an offer. 

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The real estate statistics for September are in. There were 36 sales of detached housing, up from the 29 sales in August. However, the YTD total of 432 is down 34% from last year. The Benchmark Price that is, the price of an average home in an average area dipped 1% to $946,500, the 4th decease in 4 months. These statistics confirm downward pressure on prices. With condo’s and apartments, there were 6 sales, similar to August. However, the Benchmark Price for both categories dropped significantly 9.8% for apartments, 3.5% for townhomes. These declines are the steepest we’ve seen of any category so far this year. As for vacant land, there were no sales in September. And the 89 sales YTD sales are also more than 40% off 2021. The Benchmark Price for land is not available, but prices cannot stay the same amid this lack of activity. The Detached Sales to List Ratio is now at 11%, well into Buyer’s market territory. Will the trend continue? Stay in touch.

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I have sold a property at 5716 LOUISE WAY in Sechelt. See details here

This Cascade Heights Gem is right across from a neighbourhood park! Lovely 3 bedroom, 2 bathroom rancher with family room. South facing rear yard with patio and garden shed. Vaulted ceilings, wood blinds, gas fireplace, natural gas outlet on the patio, extra parking in front. Very well cared for home and property situated in a great area with easy care landscaping. Just move in and enjoy!

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Wood burning stoves are still common on the Sunshine Coast. But it’s important to note, insurance companies will not insure a home heated with wood without a satisfactory Report from a WETT (Wood Energy Transfer Technology) professional. And the standards are stringent. The stove must be certified by an accredited laboratory like CSA, installed as per the manufacturer’s spec’s and adhere to certain clearances from combustible surfaces. For instance, there are 2 aspects of floor protection: protection from radiant heat and protection from embers. The appliance must be installed on non-combustible material which extends 8” beyond the rear and sides, and 18” in front of the wood loading door. There are also standards and clearances pertaining to the ceiling, stove pipe and chimney. RE/MAX Oceanview Agents are familiar with the process of WETT inspections.

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The real estate statistics for August are in. There were 29 detached housing sales, down 15% from July and 57% from last August. The YTD total is also down 33% from last year. The Benchmark Price that is, the price of an average home, in an average area dipped 4% to $957,200, the third decrease in 3 months. These statistics confirm downward pressure on prices. With condos and apartments, there were 7 sales, similar to July. However, the Benchmark Price for both categories dropped significantly 7.7% for apartments and 3.1% for townhomes. These declines in prices are the first to affect the attached market in many months. As for vacant land, there was only 1 sale in August. At the same time, the 89 sales YTD is down 42% from 168 last year. The Benchmark Price for land is not available but we do not anticipate land prices remaining unaffected by this lack of sales activity. Meanwhile, the Sales to List Ratio is now in the low teens. Is a buyers’ market pending?

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I have sold a property at LOT 2 REDROOFFS RD in Halfmoon Bay.
Incredible opportunity to acquire one of Sunshine Coast's majestic ocean view estate properties. This 2.89 acre property borders scenic Kenyon Creek and is nestled above Sargents Bay. There is subdivision potential for two to three lots, yet maintaining as one property would truly be a special experience. Private rural feel yet just minutes to downtown Sechelt, and close to so many local amenities. Build your private estate or subdivide and enjoy it for years to come.
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Sometimes even the best agents have trouble getting showings on their listings. When that happens, sellers may express doubt about the marketing plan. How about an ad in the paper? Or an open house? New pictures, perhaps? They forget that we do this for a living. We know what works and what doesn’t. And we know that for getting showings, nothing beats MLS. It’s the first place buyers and agents look for homes. It’s been so successful, that it’s made all other forms of advertising obsolete. So if you’re not getting showings, you don’t need more ads, open houses or new pictures. You need to lower the price. The market is competitive. Well-priced homes will get the first showings. Knowing this, our strategy is to lower the asking price in increments until we begin to get calls and showings. Once that happens, it’s likely an offer isn’t far behind. Finding the right price is a delicate, sometimes difficult task. But it’s critical to our success. We have the experience you can rely on to guide you along the way.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.