#111- 1485 Garnet Road

Listed at $159,000

MLS# 373144

ROSEBANK GARDENS, YOUR BEST 55+ INDEPENDENT LIVING OPTION! This bright, south facing, wheelchair accessible, ground level suite opens through glass doors onto a lovely garden patio. Suite features including: full kitchen with double sink, spacious master & living room, higher ceilings, walk-in shower, & large in-suite storage room. Rosebank is a safe, independent living, community offering shared lounge/dining room, guest suite, 24 hour staffing / security, coin-free laundry room, activity room & First Alert response. The optional service package provides weekly housekeeping & a chef-cooked daily 4 course dinner. Enjoy the landscaped grounds in a quiet, convenient setting close to shopping and transportation. Small pets welcome!

January 3, 2017, Victoria BC 

A total of 471 properties sold in the Victoria Real Estate Board region this December, 1.3 per cent more than the 465 properties sold in December last year.

Inventory levels edged lower than last year, with 1,493 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2016, 40.7 per cent fewer than the 2,517 active listings at the end of December 2015.

"As we expected, 2016 broke records in terms of the number of properties sold in our area," notes Mike Nugent, outgoing 2016 President of the Board. "10,622 properties sold, which exceeds our previous high of 9,241 sales in 1991." 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2015 was $613,600. The benchmark value for the same home in December 2016 has increased by 23.6 per cent to $758,500.

"We expect sales to continue to be strong but we don't expect to see the phenomenal activity we saw in 2016 for 2017. Inventory continues to be low," adds President Nugent. "You can't sell something that isn't there. There is certainly an ongoing demand for properties. This is reflected in the fact that 25 per cent of sales this month sold over their asking price. The majority of these properties were in the up to $750,000 price point, so your average buyer will face a competitive market."

We always look forward to this time of year! Gingerbread House Time! We love driving out to Santa’s workshop ( also known as the bakery), and picking up all the houses we have ordered.

Arriving at the bakery to see the large homes ready for pick up! 

 This year, being our third year, we had to do it in 2 trips and with 2 vehicles! The list keeps growing every year! 

Some of the houses along the wall!

Close up of a few houses at the bakery!

More homes ready for pick up!

Joy the Baker helping us put the houses in the car!

Joy, our lovely baker, made beautiful homes , both big and small this year, for our clients and friends to enjoy!

Joy in her Santa's workshop working on 25 small houses for us!

Joy decorating the small houses we ordered!
 

This past weekend Tom and I began our annual pop bys. We packed up the car, drove to a coffee shop and got ourselves fancy coffees with seasonal flavours.  (It is the only time of year we pick these coffees up.) We then turned on Christmas music in the car and drove around together delivering Gingerbread houses to clients and friends that we have done business with this past year!

About two thirds of the small & large houses waiting to be delivered!

Close up of some of the small houses!

It is always a delight to see everyone in their homes! Some showed us updates they have done, one family had a brand new baby for us to see and hold! Always exciting even when they are not at home. We then feel like elves! Fun! We got through about a third of them. We look forward to delivering the rest of them in the next couple of weeks!

Rosemarie & Tom ready to deliver the houses!

Season’s Greetings,

Rosemarie & Tom

"Foreign buyers are another factor that affects our local housing market. The provincial government is considering implementation of a local tax on foreign buyers to ensure pressure on pricing from that source remains mitigated," adds President Nugent. "While October data shows an increase in foreign buyers into the Capital Regional District compared to previous months, their 6.3 per cent of property transfers indicate that these buyers are one factor in the marketplace. A much larger factor affecting affordability and availability right now is the lack of inventory. An effective method to address housing affordability issues could be through efforts to increase the supply of housing, either through adjustments to zoning or density."

This picture, with Tom crouching in the foreground, is of the “Breakfast Club”. Rosemarie and Tom have been supporting and taking part in this club for the past couple of years. Our merry cohort of Realtors and professional colleagues provide and serve breakfast monthly at the Open Door facility on Pandora St. Today we served roughly 500 hot meals of scrambled eggs and sausages to the colourful, and very grateful, assortment of homeless and otherwise marginalized folks who came. 

Thank you to my wonderful friends and clients who made this possible, Rosemarie

November 1 2016, Victoria, BC

A total of 735 properties sold in the Victoria Real Estate Board region this October, a single property more than the 734 properties sold in October last year.

Inventory levels remain lower than last year, with 1,938 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2016, 38.9 per cent fewer than the 3,170 active listings at the end of October 2015.

"We continue to see low inventory hindering sales in the local market," notes Mike Nugent, 2016 President of the Board. "Though our numbers are down from the record setting pace set this summer, the market is still moving quickly and is still very competitive for certain properties. High demand areas like Saanich and Oak Bay continue to see multiple offers and areas in the West Shore are also seeing sales over listed prices. In other areas, prices remain firm because of high demand and extremely limited inventory."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2015 was $608,200. The benchmark value for the same home in October 2016 has increased by 24.1 per cent to $755,000.

"The federal government's change to mortgage lending rules has also impacted buyers," adds President Nugent. "Buyers that require mortgage insurance are able to qualify for significantly smaller mortgages than before the rule change and this is further limiting their options in a very restricted market. Some buyers have postponed their search in order to save up more of a down payment so they can work within these new limitations."