Nanaimo Real Estate Blog
Assessed value is calculated by a number of factors including age, size, types of construction materials and lot size and sale prices for properties up to July 1, 2017. Sales that take place after this day that same year are not calculated in the assessment. Once this has been determined, property taxes are charged to the owner based upon a set percentage rate. Simply put, the assessed value of your home determines tax value. Market value is the price that your home will likely sell for within a specific time frame that is reasonable. It is calculated by the current average sale and list prices of similar homes in that neighborhood and are established with the methodology of what a typical buyer would pay for your home. The market value means what an average buyer will pay, not a specific buyer who is willing to pay more simply because they have fallen in love with it and want to ensure they are able to purchase it. We do see this occur with unique style homes, or sometimes homes that offer features such as an in-ground pool (which many buyers do not want), detached shop, and other amenities. Without the sage advice of a real estate professional, it can be difficult to determine the market value of a home as it can be challenging to determine a value of a similar home with a view compared to one that backs onto parkland on the same street.
As we settle down with our family this holiday season, I wanted to share with you a cautionary Christmas tale that recently happened which is too funny not to share. My wife, Johanna, and i recently gave ourselves an early Christmas present and traveled to Costa Rica, a county we have visited many time before. As I relaxed beside the pool, basking in the warmth of the sun and listening to Christmas carols on my headphones, I suddenly realized that my flesh was being torn apart. My brain froze and I thought about the end of the world scenario, a possible Zombie outbreak, or even a violent burglar! As my eyes quickly opened, my shock turned to horror as a 4 foot iguana chomped his sharp, dinosaur-like teeth into my arm. Blood was everywhere and I was under attack! I jumped up from my seat and grabbed a weapon, as my primitive caveman brain directed me to fight to the death to protect my pool and my wife. Unfortunately, when I grabbed the pool net, I realized that it was too small to capture this descendant of a T-Rex. This wild beast jumped over the cement wall and I walked briskly back inside the home, waiting for my mortal enemy to return. Within minutes, I caught sight of this inglorious reptile attacking my bright orange frozen beer mug with renewed energy.
the numerous elves that work so hard to build toys for children, stables (for the reindeer, of course), and a gourmet kitchen to ensure that all of those cookies and hot chocolate are made to keep Santa in “Christmas shape” for the holidays? Well, if you look at some of the listings in the North Pole (referred to in MLS as Fairbanks, Alaska), it seems that Santa has been smart to set up his Christmas base in an area of reasonably priced homes and lots.