Part of our website malfunctioned over the past weekend from Friday, September 18th to Sunday September 20th. As a result anyone who tried to reach us by emailing sales@thestudios.ca or through our Registration Page of our website was unsuccessful.
If you or anyone you know tried to reach us over the weekend, please try again. We are now up and running properly.
Thanks,
Myron Calof
President
TiGERi Properties Group
September 18, 2009
Debra Waluk
Our much anticipated Studio NA Show Suite will open this weekend. Available for viewing by appointment only, the Show Suite will give buyers and prospective buyers the opportunity to view one of our completed and fully furnished units with many Studio NA features such as granite kitchen countertops, stainless steel appliances, wood shaker style cabinets with brushed nickel hardware and halogen track lighting, bathrooms with limestone vanity counter tops and porcelain tile floors, as well as hardwood laminate floors, mirrored hallway closet doors and our signature bedroom window wall. Our Show Suite is displayed with furnishings, accessories and fabrics selected especially for us by Ula’s Fine Furniture of Nanaimo, and the result is a very creative and stylish contemporary urban space…… a perfect setting in which to enjoy the Art of Downtown Living.
The Show Suite is available for viewing BY APPOINTMENT ONLY with Malcolm Johnson at Coast Realty.
July 20, 2009
Debra Waluk
Studio NA is ready to be closed up in terms of windows and doors. Once the windows and doors are installed we will be well on our way to completing the interiors of the units on Chapel with the units along the north side of the building following close behind. Everyone is gearing up for the show suite to be completed which is scheduled to open sometime mid to late August. Our team is diligently pushing forward and we are still setting our sights for completion before the New Year. Check in with me next month for a peek at a finished interior.
Malcolm Johnson
Nanaimo’s real estate market has certainly been hot this last few months and it doesn’t seem to come with much surprise. With low interest rates and one of the most desirable landscapes in the world it is no wonder Nanaimo’s real estate market is bouncing back nicely. Our June stats showed some very impressive numbers.
Sales volume was reported as being up 45% i from June last year and listings down 21%. Our June numbers are almost identical to that of April 2008 which is normally our busiest month of the year. It would almost seem like our spring market was just a little late coming and with pent up demand coupled with low interest rates we have a good market. This doesn’t seem to shook me any when you look at Nanaimo and simplify it’s real estate success to supply and demand. Many people are moving to the island from other parts of Canada and this desire to live here keeps us a popular destination.
May 20, 2009
Debra Waluk
Have you been by the site? We’re four stories up on Chapel and just about ready for windows and doors. On Skinner we’re near to pouring the last of the concrete, and within a short time you’ll see the entire building take shape. We’re making great progress thanks to a terrific team of architects, engineers and consultants, but most of all our Project Manager Frank Doucette whose son William lives in Nanaimo and our Senior Site Supervisor Louis Perron. These two gentlemen have brought with them a combined 54 years of construction experience in BC and Alberta. You’ll probably get a chance to meet them in the completion stages of Studio NA later this year. Speaking of completion we’re getting our show suite ready on Chapel and hope to have it open in July. It will give owners and buyers alike an opportunity to see the quality of our unique designs and finishes, as well as the ingenuity and creativity of local interior designers and merchants. Check up on us next month for an update on our show suite and our progress in getting your new home ready to move into.
Gerry Halstrom
June was an interesting time on our family farm. The trick was to get the hay in the barn before the rain hit. So far this June, things are looking pretty good – And I’m not just talking about the farm. We’ve had hot weather (good for the crops) and some pretty hot Real Estate markets (good for everyone). Since reporting last month on returning markets across the Pacific Northwest we’re continuing to see more good statistics. Prices are no longer going down, and in some of the more energetic markets – starting to go up! Why? The news is improving and buyers are finding they can pick up very desirable Real Estate at fair prices and take advantage of some superb interest rates. In Nanaimo active home listings in May were almost the same as a year ago [631 in 2009 vs. 597 in 2008]. The big inventory buildup is coming down quickly. And there were fewer new listings [216 in 2009 vs. 260 in 2008].
So what does this mean? Inventory is going down. Good listings are being picked up at a swift pace and while the “dogs” will not sell (poor condition & over priced), as the summer turns into fall I feel we will see added upward price pressure on the good inventory. So what’s this have to do with farming? Studio NA will be finished in December and we’re now selling again in a good market. Looks like we’ll get the hay into the barn.
Issue 4
May 20, 2009
Gerry Halstrom
It’s been an interesting few weeks. I returned from a 2 month trip to Asia on May 1st. Leaving in early March winter was still in the air and Vancouver’s weather mirrored the cold and dark Financial & Real Estate Markets. Real Estate sales volume was down considerably and lending was very tight. It was a good time to leave!
Since returning it’s clear that spring is in the air. Markets across BC and even into Washington State are returning to better than normal sales conditions. Sales volume throughout the Greater Vancouver area is quite strong right now. Ron Williams, Sales Manager at Nanaimo’s Downtown Coast Realty, told me last week his agents are experiencing a strengthening market. Realtors are busy again with Buyers taking advantage of good inventory and low mortgage rates. What a difference from just a few months ago.
I predicted last December that this summer’s real estate market would be a good one, that much of the financial storm of last fall would be nearly over and that many British Columbians would be anxious to get back to their previously scheduled lives. Now, for the majority of BC’s citizens life is moving on. Young people want to move out on their own, people are getting married, babies are being born and new households are being created. Inexperienced or financially weak developer’s and their marginally viable projects are gone, but solid, well funded and, most important, well located developments are moving forward. And as every successful real estate mogul will tell you the three most important parts of a good real estate investment are “Location, Location, Location.”
Gerry Halstrom is a well known Vancouver based real estate broker and a frequent commentator/speaker on real estate markets and marketing strategies. He has been a guest speaker at Ozzie Jurock Real Estate Seminars, appeared on BCTV and other media outlets, and lectures for the BC Real Estate Association and Real Estate Boards throughout BC. Gerry is the senior marketing advisor to TiGERi Properties Group.
April 20, 2009
Debra Waluk
As you can see from the picture we are now out of the ground and it is up, up and away from here. This is an exciting milestone as we certainly have met several obstacles to get to this stage, including boulders and the worst winter in several years. Our team has pushed very hard to stay on track and although we are slightly behind schedule at this time we all feel very confident that the lost time can be made up by long hours and weekends. Watch for us next month as Studio NA continues to become the address of distinction in Downtown Nanaimo.
Malcolm Johnson
First Time Home Buyers are leading the current market. Some stats out of Vancouver suggest that over 50% of the sales in the last quarter have been first time homebuyers. First timers have several advantages over current owners. One of the main advantages a first timer has is that they have nothing to sell. This has real power in today’s market. In addition first timers can capitalize on record low interest rates, no property transfer tax if they qualify (a savings of up to 5K), tax free RRSP withdrawals of up to $25,000 to assist with their purchase and a new $750 home purchase tax credit introduced by the federal government. With all these incentives it is no wonder First Time Home Buyers are leading our market.
March 20, 2009
Debra Waluk
A month has passed since my last newsletter and I wanted to update you with our progress at Studio NA. We’ve now poured half the lower garage floor and most of the concrete walls throughout the site. We are standing formwork above the garage floor for the floor of the commercial and live/work units along Chapel. We’ll start pouring concrete for that floor and the remaining garage floor as soon as we get a break in the rain, hopefully this weekend. Once the commercial floor is poured we can start framing, and with framing crews anxious to get going I think we will see the structure of the building come up quickly. We’ve had some unexpected weather delays and have hit some large rock formations that were not expected, but we believe our contractor has dealt with these challenges as quickly and as well as possible.
Studio NA continues to generate lots of excitement downtown. The site gets lots of onlookers and purchase inquiries right at the site office. We expect to have two webcams overlooking the site 24/7 up and running very soon and anyone logging into our website will be able to see what’s going on.
Watch us grow over the coming months and stay tuned for further updates.
Malcolm Johnson
I always get asked about how the real estate market is doing in Nanaimo. I answer that as a REALTOR I’m very fortunate to live here. Real estate has been most affected in Canadian cities that are heavily dependant on industry. Nanaimo has been gradually moving away from its dependence on the forest industry, which has made the current economic situation easier for us to weather. Secondly over the past few years we at Coast Realty have seen a great number of people from other parts of Canada “discover” us and they are interested in moving here. The largest portion of our out of town purchasers are from Alberta, Ontario and other parts of BC, and they are coming here with money to spend on housing. Most of these people are amazed at the value here and approach buying like “kids in a candy store”. So, yes sales volume is down and prices have dropped slightly, but it’s our opinion that the future of Nanaimo and Vancouver Island is bright, that interest rates are at historic lows that can’t be sustained and will rise, and that it’s a very good time to buy real estate here.
February 20, 2009
Debra Waluk
We are pleased to report on the progress of our Studio NA development in downtown Nanaimo. My name is Debra Waluk and I am the Development Officer of TiGERi Properties Group. As such it’s my responsibility to both oversee the construction of Studio NA and ensure that all our buyers have a smooth closing and possession process when it’s time to complete their purchase. To keep you informed and up to date on Studio NA we intend to publish this Newsletter on a regular basis.
Since starting work on the site we have had to deal with some unforeseen weather and subsurface condition related delays, but we are confident we can make up the time in later stages of construction and bring the building in on time. As you can see from the photo work on footings and foundations is well advanced. The slab on grade (lowest parking level) will be poured sometime next week, followed shortly thereafter by the suspended slab that forms the upper parking level and commercial and live/work spaces. Framing is scheduled to start in March. Fully furnished display suites will be open sometime this summer for your viewing.
We’re very excited to be part of the newly revitalized downtown community of Nanaimo, and I personally look forward to meeting and speaking with all our buyers, members of the real estate community and the many people who have expressed interest in our project in the coming months.
Malcolm Johnson
Downtown Nanaimo has become the focal point of multi-family living in our City. At Coast Realty we can see that there’s been a major shift in the way our clients think about our downtown and harbourfront and the success of new multi-family sales is the evidence. Studio NA broke new ground and set records that Nanaimo has never seen before in pre-sales. Not only did 30 units sell out in just 3 days, but even more interesting is that 75% of the buyers were local. We even sold units to buyers from the North End of Nanaimo which until Studio NA was considered a top popular district. Our success at Studio NA has awakened us to a re-energized vision of our downtown and made us realize that it is well on it’s way to becoming the urban centre that it used to be. Studio NA is coming out of the ground with great support and excitement from and within every corner of our community.
