Proudly Offered at $685,000

OPEN HOUSE SATURDAY March 6 2-4. Prepare to be impressed by this SPACIOUS 5 bedroom family home situated on a beautiful quarter acre garden lot steps from Uvic and Camosun. There are many wonderful upgrades including a first class main bath, refinished wood floors, renovated kitchen, quality appliances & stunning native plant landscape design. The main floor offers hardwood flooring and open concept living-dining room with gas fireplace. Enjoy the bright gourmet kitchen with eating area & access to huge sunny patio, perfect for morning coffee or afternoon cocktails. The deck overlooks the lush, private, fully fenced backyard complete with herb garden. The downstairs is full height with family room, bathroom, 2 bedrooms and private entrance. Call for your private viewing!

FLOORPLAN

Check out the attached article from Mullin Demeo (law firm in Victoria BC)

2010-federal-changes-to-mortgage-financing-requirements

Proudly Offered at $120,000

OPEN HOUSE SUNDAY MARCH 7, 2010 2-4

Charming double wide sits on a corner lot in a great neighborhood! An inviting home that has 3 bedrooms plus den, 2 bathrooms that includes an ensuite with a soaker tub, a large kitchen, separate dining and living room areas as well as two decks. Convenient location, close to schools, shopping and bus stop. This park is a 55+ park that welcomes pets. Come view this charming place today.

NOW SOLD

You will appreciate this 1912 Character Maclure Mansion which was converted into 7 Units. This beautiful 2 bedroom suite is conveniently located to downtown, parks and Fairfield plaza. With 1,000 sq. ft. this spacious home features cozy gas fire place, skylights, A-frame style sunken living room with gas fireplace, hardwood floors, dining area, large kitchen, insuite laundry, all appliances and more!!! One parking spot included! Rentals and pets are welcome!

NOW SOLD

This 2 bedroom and 2 bath unit offers exceptional value. Located a few short steps to the Legislature, 320 Menzies is 24 unit deluxe condo building close to village shopping, and the inner Harbour. The unit itself offers in-suit laundry, two bedrooms, master with ensuite, fireplace and underground secured parking. All this in a dry building approved by engineer.

Victoria Real Estate Board President Randi Masters says the strength of the recovery came as a welcome surprise, “Given the significant world-wide economic downturn we were very pleased to see the real estate market recovering so quickly. With interest rates expected to remain low in the coming months, we are anticipating a strong and balanced market in the coming year.” Masters noted that while sales rebounded strongly last year, overall average prices showed little change compared to 2008. The overall average price for single family homes declined by less than one per cent, condominium prices declined by less than three per cent and townhome prices remained essentially unchanged.

Masters added that December saw a normal decrease in sales compared to November with some minor fluctuations in prices. The average price of single family homes in Greater Victoria last month was $651,316. Sixteen sales of over $1 million, including one sale in Central Saanich of over $5 million affected the overall average. The six-month average was $601,237 while the median price was significantly lower at $555,000. The average price of all condominiums sold in December was $345,907; the average for the last six months was $324,919 while the median was $289,000. The average price of all townhomes sold last month was $477,998; the six-month average was $450,305 and the median was $422,500.

MLS® sales last month included 246 single family homes, 115 condominiums, 44 townhomes and 12 manufactured homes.

Masters noted there has been a substantial decline in the number of properties available for sale, “As of the end of December, there were 2,557 properties available for sale — down 33 per cent from a year earlier.”

NOW SOLD

PROUDLY OFFERED AT $659,900

OPEN HOUSE SAT 2-4. This home presents an exciting opportunity in a very exclusive area. 3374 Salsbury is situated in the serene but convenient Maplewood neighborhood, only moments from downtown Victoria & yet it feels like miles away from the confusion of urban living. This perfect family home has been lovingly updated & features hardwood floors, gas stove and fireplace, several built-ins, laundry chute, vacu-flo system, french doors, updated kitchen, & a newly developed double garage. Walk to Cedar Hill Golf Course, or explore Camrose and Playfair Park. Why not walk to Thrifty’s to pick up supplies for a fall BBQ on this home’s expansive SW facing deck? The large deck features not only mountain and ocean views but a large hot tub!

floorplan and additional photos

MLS 270774

NOW SOLD

Proudly Offered at $749,900

Go GREEN and purchase this HIGHLANDS hideaway. Looking for privacy and tranquility? Take comfort in knowing that your neighbor will never develop beside you. Imagine yourself coming home to practically 9 acres of pristine wilderness hearing only the sounds of trees gently rustling about and birds chirping. Just 30 minutes from downtown, this custom built full size Log home is perfectly situated on this extremely private property. Nestled quietly among the rolling hills of the Highlands this home has been designed for those that appreciate privacy and untouched nature. Discover some of the most spectacular sunsets this Island has to offer minutes from your front door. Feel the warmth radiate from a custom masonry fireplace and hear the crackle of the fire as you relax in paradise. Too many custom details to mention as this home exudes pride of ownership.

The owners of this extreme home spent years planning and researching before embarking on building this masterpiece. Careful consideration was paid to all materials that were used. This home was built for healthy living. Green features include: low VOC paints, water based stains for interior and exterior, no glue, no material board, on-demand water heater, beetle-killed pine in master, and hard wood throughout. These features in addition to its unique protected location make this property unbelievably special. For additional information and resources on the home please visit www.VictoriaLogCabin.com

Click here to view additional photos and floorplan

NOW SOLD

Proudly offered at $329,900

OPEN HOUSE SUNDAY 2-4. Beautiful 2 level, top floor condo available in a modern building. This home provides over 1100 sq ft of living space - it is the largest home in the building, and is located in a great area. Come view this unique property which features vaulted ceilings, a large loft, and spacious master suite. Providing great value, this home is immaculate and the building still enjoys the balance of the 2-5-10 year warranty. Bright, spacious, new and offered at a great price… call TODAY!

For additional photos and floorplan please visit http://ChristinaEllis.VictoriaFinds.com/h/JacklinRd2823-407

Making your house more environmentally friendly can help save money, save the environment, and save your health at the same time. Here are some popular “green” projects that you can do yourself:

Lighting

More than 90 percent of the energy produced by incandescent lights is heat, not light, so replace fixtures with more efficient bulbs. Compact fluorescent bulbs fit into an incandescent socket and operate on a quarter of the energy used by incandescents, lasting 10 times longer.

Plumbing

When replacing your toilet, conserve water by purchasing a low-flow toilet, which can save around 4 gallons/15 litres of water per flush. And while you’re at it, add an aerator to your faucets. Inexpensive low-flow aerators are easy to install and can cut water use by half or more.

Painting

Many paints contain chemicals called Volatile Organic Compounds (VOCs) and other toxic components which evaporate and can hurt your indoor air quality and aggravate asthma and allergies. Many major paint manufacturers offer low- or no-VOC paints to help you avoid those potential health hazards.

Flooring

Bamboo is an environmentally friendly substitute for hardwood that provides much of the hardness and convenience of traditional wood flooring at about the same price. Look for a formaldehyde-free pre-finish and low formaldehyde-adhesive emissions. For carpets choose wool—it’s renewable, biodegradable, and often more durable than synthetics.

In addition, take a close look at your appliances. If your washing machine is more than 10 years old, you can save up to $100 a year by switching to a new, efficient model.

Given the continuing popularity of “green” homes, these improvements may increase your home’s appeal when it comes time to sell.

Very Cool urban townhomes in a great downtown location. Walk to everything Victoria has to offer, the best shops restaurants, entertainment and services are all close by. These unique homes have been finished to the highest standards by multi award winning builder Prodigy Developments and are covered by a complete 2-5-10 New Home Warranty. They all feature high end designer finishes by Nygaard Interiors incl. hardwood floors quartz counters, quality fixtures and a top quality stainless aplliance package . Additionally these homes offer grade level private entrances, single car garages and spacious roof-top decks that offer views over the surrounding neighborhood to the Olympic mountains and the sunsets over the Sooke hills to the west.

This bright and airy 3 bedroom corner suite is excellent value. On the quiet side of the building with an attractive treed outlook, the unit is bright and very spacious – it’s more than 1000 sq ft. Crown mouldings, newer paint, updated kitchen with new appliances, newer carpet, insuite laundry and storage and separate storage right across the hall! Central location near to Hillside Mall, transportation and schools is perfect for students and seniors. This well-managed building offers a games room, workshop, bike storage – there’s even a rooftop patio and bbq. One small pet is okay too – don’t miss this one!

Wonderful 2 bedroom character home. Located on a quiet street, this family home boasts many updates which include new countertops, windows, foundation, new roof and more! Spacious laundry room. Large kitchen with tons of counter space and a deck off the side to enjoy the fresh air. Own a contemporary, cozy home perfect for a young couple, empter nesters, or anyone who appreciates functionality and style. Lots of extra storage in the large crawl space.

If you’re shopping for properties in Victoria right now, then you’re right to believe that the inventory is quite limited.  Active listings have actually decreased 30% from last year at this time, translated there isn’t a lot to choose from right now. If your thinking about waiting until the Spring to buy then you are risking the possibility that prices may have risen by that point. The market has just began to exhibit a seller’s market conditions as a result of low inventory and rising prices (BCREA). It has been forecast that home prices will continue to rise in the months to come and should match record highs of last year and then the market is projected to stabilize in 2010. A good document for buyers and sellers to review is the BC Real Estate Association Economic Forecast (http://www.bcrea.bc.ca/economics/HousingForecast.pdf). This document forecasts that the annual prices in Victoria will contract 4% this year and rise 2% in 2010 (to date prices have dropped 5% and so this means that BCREA is projecting a 1% increase in prices in the next few months). Therefore in my opinion, although it is challenging shopping for property right now, it would be a mistake to give up and with for the spring market.

If you have any questions please feel free to contact me on my cell at 250-857-6045.

Victoria Real Estate Board President, Chris Markham, says it is usual for sales to slow in August, “Many people take holidays in August so it is not surprising to see sales soften somewhat. We are very pleased, however, to note the significant increase in sales last month compared to August of a year ago which gives further evidence
of the strengthening of the market.”

There were 3,509 properties available for sale at the end of August, down 25 per cent from the 4,657 properties available in the same month a year ago. “The decline in the number of properties available for sale will continue to place some upward pressure on prices,” said Markham. Sales so far this year are running over six per cent higher than in the first eight months of last year.

The average price for single family homes sold in Greater Victoria last month was $596,498, up from $565,469 in July. Markham noted that the average price was affected by 17 sales of over $1 million. “These included two sales of over $4 million, one in Saanich East and one in Central Saanich, and these had a significant impact on the overall average price,” he stated. The median price increased $20,000 to $540,000. The six-month average was $569,546. The overall average price for condominiums was $317,312 last month, down from $328,441 in July. The average for the last six months was $307,347. The median price for condominiums in August remained unchanged at $290,000. The average price of all townhomes sold last month was $455,430 up from $443,109 in July. The median price dropped slightly to $419,000. The six month average was $421,565.

MLS® sales last month included 403 single family homes, 218 condominiums, 91 townhomes and 11 manufactured homes.

(courtesy of VREB)

NOW SOLD

BEST VALUE IN FERNWOOD/OAK BAY BOARDER. Beautiful, bright arts and crafts cottage. Ideally situated on a quiet cul-de-sac, across from a park, and down the street from a community garden. Artistic space with open living and kitchen area, hardwood floors, soaring ceilings, stainless appliances, gas cooktop & lifetime warranty on roof. Master bedroom is fabulous – high ceilings, huge windows overlooking lush back garden. Discover custom millwork throughout the home. Awesome sunroom, 250sqft south-facing deck, vibrant garden, and private gazebo providing the ultimate indoor-outdoor lifestyle… just move in any enjoy! Call Christina Ellis at 250-857-6045  for your private showing.

1761-newton-st- Floorplan

 365 Waterfront is located in Victoria’s award-winning Selkirk Waterfront Community and is Concert’s fourth residential development in Victoria. This stunning collection of 84 homes features solid concrete and steel construction in a contemporary, terraced six-storey lowrise condominium. Suites will range from one-bedroom and den to two-bedroom and den and rooftop terrace penthouses, all taking advantage of waterfront views and the inner harbour urban seaside setting.

This West facing, updated unit, enjoys a water view and sunsets and it is situated in a well established complex on the Gorge waterway and close to a wide range of essential services. Recent upgrades include paint, laminate flooring, appliances, master bathroom, lino, and more. With a good floor plan, a wood burning fireplace for those cozy evenings at home and a west facing sun deck this unit is a must to view and quick possession is possible so call now.

This charming character home is located on quiet tree lined cul-de-sac. Recent upgrades include new windows, roof, gas furnace & appliances. Lower level has private entrance, 1 bedroom, 4 pc bath, living area and wet bar. Enjoy the private south facing yard with large deck. Beautiful easy care garden features mature apple & peach trees. Short walk to Jubillee Hospital, minutes to downtown, Oak Bay Village, UVic & Willows beach.

Stroll to the wonderful Oak Bay village, Windsor Park, Marina and scenic waterfront walks along beautiful Beach Drive. Corner SW facing suite featuring an impressive 1291 sq. ft. and a huge 750+sq.ft. patio surrounded by mature flowering shrubs. Unique grand expansive formal living and dining areas, feature fireplace, windows galore, kitchen eating area, in suite laundry, underground secure parking. This is a fantastic opportunity to move to a very special steel and concrete building in one of the most vibrant places in Victoria. All measurements approx. Please verify if important. Meas. by True Measures. Light fixture in kitchen eating area does not stay.

REALTORS are members of the Canadian Real Estate Association who subscribe to a strict Code of Ethics and High Standard of Business Practices. Members of the Victoria Real Estate Board are members of both the British Columbia and Canadian Real Estate Association.

The following is a list of services you can expect to receive from a REALTOR when you buy a home:

1. A REALTOR will fully explain the details of your working relationship (called “agency”) so that you are clear as to when a REALTOR is working for you or for the seller.

2. A REALTOR has access to hundreds of current listings of homes for sale because of a co-operative system called the Multiple Listing Service (MLS). A REALTOR can provide you a customized list of homes that best suite your needs - size, style, features, location, proximity to schools, hospitals, and shopping, etc. Then they are available to make arrangements for you to view the homes that appeal the most.

3. A REALTOR will help you determine how big a home you can afford. Assessing the many financial alternatives is an important consideration when buying a home. REALTORS are familiar with the local lending market and can offer helpful advice.

4. A REALTOR has no emotional ties to any type of home and can be objective in pointing out the merits of one home over another.

5. A REALTOR will have information on zoning changes, taxes, utility costs, schools and recreational services that could affect your decision to buy a home in a specific area.

6. A REALTOR will assist you in negotiating the terms of your purchase. Presenting offers and handeling counter offers can be a nerve-wracking process for someone who is not experienced in the art of negotiating.

7. Finally, a REALTOR will advice you of the legal process required in obtaining title and taking possession of your property. The costs associated with buying a home such as insurance, morgage registration, and legal fees will be explained in detail.

A Realtor’s knowledge and skill can help in many ways and make the experience of buying a home a pleasant and rewarding one for you and your family.

TORONTO, July 7, 2009 – Canada’s resale housing market recovered lost ground in the second quarter and is poised to stabilize for the remainder of 2009, after a very slow start to the year, according to the Royal LePage Market Survey Forecast and House Price Survey released today.  As the economy begins to stabilize and consumer confidence improves, house prices are expected to appreciate slightly in much of eastern and central Canada.   Greater than national average price declines are predicted for the western cities that saw the greatest price inflation earlier in the decade, including Edmonton, Calgary and Vancouver.

“Given the grim shape that Canada’s real estate market was in this past winter, the turnaround we have witnessed in the second quarter is really quite remarkable.  We believe this improvement represents a sustainable change across the country. While seasonally weaker conditions are to be expected in the fall, the plucky Canadian real estate market is stabilizing and a healthy level of activity is forecast for the second half of 2009,” said Phil Soper, president and chief executive officer, Royal LePage Real Estate Services.

During the second quarter, average house prices across most Canadian markets began to appreciate, recovering from the lows experienced during the winter months. Average national prices remain slightly behind those posted during the same period in 2008. Of the housing types surveyed, the price of detached bungalows declined to $327,964 (-3.5 per cent), two storey property prices decreased to $392,378 (-3.7 per cent), and standard condominiums price points fell slightly to $237,112 (-3.8 per cent), year-over-year.

Soper observed, “With our industry’s busiest quarter behind us, we feel comfortable revising our 2009 forecast to the positive. When the anticipated market decline struck last winter, it was with greater speed and intensity than predicted, but the strength of the rebound was equally surprising.  If general economic conditions continue to improve, as we expect they will, 2009 will be characterized as a period of moderate housing market correction after several years of above-average price growth.”

The 2009 national average house price is forecast to decline marginally by 2.0 percent, to $297,500 by end of year and unit sales are projected to fall slightly by 1.0 percent to 430,000.

“Improved affordability, driven by flat or lower home prices and inexpensive mortgage financing, has been the principle catalyst in this recovery.  Pent up demand is also a factor in the lift we see in the second quarter numbers.  For six months straddling the year’s beginning, buyers stayed away from the market in an understandable, emotional reaction to very unsettled global economic conditions.  Canadians appear to be stepping beyond these fears and are once again moving onto and up the home ownership ladder,” stated Soper.

In early 2009, the precipitous drop in unit sales remains the most dramatic indicator of the recession’s impact on Canada’s real estate market.  With spring, consumers appeared ready to believe the worst was behind them and returned to the market in force, driving increased activity across each housing type.  Couple this with historically low interest rates and leveling unemployment, Canada’s residential real estate market got back on track during the quarter.

Undergoing an inevitable cyclical correction, price adjustments can be seen with marked variances across Canada’s provinces.  As expected, British Columbia and Alberta posted the most significant price modifications, as home values in those markets retreated in the wake of several mid-decade years of unsustainable price inflation, and have now evolved to a more balanced state.   Prices appear to have stabilized and it is expected that these regions will continue to see improvements into 2010.  In particular, the impact of lower home prices has improved affordability to the point that people are buying homes again on the West Coast, where sales activity has increased substantially.

Alternatively in Atlantic Canada, homes continue to appreciate due to strong local economies, which have helped to shelter the region somewhat from the turbulence witnessed in other provinces. As well, the region’s generally moderate home prices have helped keep demand strong.   Newfoundland, in particular, stands out as a region that continues to see significant home price appreciation, as supply cannot keep up with the demand driven by vibrant and growing industries such as those in the province’s oil and gas sector.

Meanwhile, home prices in Toronto declined slightly in the second quarter, reflecting the national average trend.  In the early spring, it was first-time buyers who triggered the increased activity levels, now those looking to move up are also active in the market. Similar to the situation in other large cities in central Canada, the most desirable neighbourhoods experienced supply shortages, which put upward pressure on prices.

“Looking ahead to the second half of 2009, year-over-year price comparisons will likely appear increasingly more favourable. It is important to remember that the baseline for the latter half of 2008 was unusually low, particularly in the fourth quarter when the full impact of the global financial crisis was felt. Our expectation is that most Canadian regions will experience stable housing prices through into the spring of 2010,” concluded Soper.

VISIT  http://docs.rlpnetwork.com/rlp.ca/PressReleases/090707_chart.pdf FOR Royal LePage’s Q2 2009 House Price Survey shows the following annual change of prices for key
housing segments in select national markets. Victoria markets look better than most!

courtesy of Royal Lepage Canada

SOLD

This charming 4 bedroom rancher is located on a quiet street in the highly desirable Glanford area. Ideally located to access the Pat Bay Highway or McKenzie Ave and close to amenities, schools, shopping and neighborhood parks and trails. This home boasts beautiful hardwood floors, coved ceilings, cozy gas fireplace, bright and spacious kitchen and eating area with access to a sunny south facing patio surrounded by fruit trees. Take advantage of the spacious corner lot and cedar workshop. Lots of storage available in the 4ft crawlspace. The fully fenced backyard is perfect for families, pets & gardeners!

Upgrades include: NEW high efficiency gas furnace, NEW high efficiency hot water tank, some rooms have been freshly painted, newer roof & windows.

For more information, or for a private viewing, please call or email Christina. Financing information available upon request.

Floorplan available (PDF)

MLS 260264

Overall the message seemed positive. I thought this quote was especially optimistic: “For Q1 2009, property sales indicators confirm the market may be nearing bottom given the clear upswing in residential sales. Lower prices and lower mortgage rates are moving more potential property buyers off the fence and into the market. This sales rebound is forecast to continue into the summer months, as property buyers increasingly recognize that the economic recession is likely in its later stages and property sales have turned the corner and are gaining moderate strength.”

That seems to sum up the question on most buyer and seller’s minds… are we at the bottom yet? I found this report helpful in trying to answer that very difficult question. Click the link to check it out!

https://www.landcor.com/market/reports/Q1_09_Quarterly_Report.pdf