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Random Act of Kindness – True Story
My daughter, Alexis, is the general manager for the Milano Coffee Company in Vancouver. She oversees the operations at three of the establishments and is an advisor to the fourth that is a franchise. They sell gourmet Italian coffee and small food items at each establishment. Some of the food items are brought in by outside businesses. One such company is a baked good company called “Sugar Sugar”. The owner, Patrick, took the Milano logo and got one of his artistic employees to handpaint it on to every delicious sugar cookie that is now sold at Milano’s. Patrick comes in to the Gas town location regularly to check in on his cookies and buy a good cup of coffee. They are selling great! People love them! Anyhow, recently Alexis mentioned to him that she shared a cookie with me and that I loved it! I did! I told her so! I told her it was the best sugar cookie I have ever eaten. She told him that. He immediately asked her for my name and then left the store with purpose. Few days to a week later he arrived back at the Gas town location with a pretty package of six sugar cookies. Each cookie had a beautiful rose hand painted on it, not by his artistic employee, but by himself! He said to Alexis, “Here, these are for your mother”. Just a few days ago Alexis came home to Victoria for her weekend off and presented me with these beautiful cookies. Even though I am now staying away from foods with gluten in it, I had to try one of those delicious morsels of goodness. Yummmm! I then had to have one more half, cause I couldn’t resist and then I shared the rest! Thank you Patrick! Real Estate Activity Continues Ahead of Spring Market
Victoria Real Estate Board
VICTORIA BC - Real estate market activity in the first two months of 2014 remained slightly ahead of the same period in 2013. Total MLS® sales in February were 412, a 4.6 per cent increase over February 2013 when 394 units sold and a 20.5 per cent increase over the 342 sales reported to the Victoria Real Estate Board (VREB) in January 2014. "It's encouraging that sales activity continues to increase as we move towards a healthy spring market," noted VREB President, Tim Ayres. "2013 spring sales were quite strong and we're hoping for a similar level of activity this year." The MLS® HPI single-family home benchmark price for the entire Greater Victoria region was $483,400 in February, a 1.4 per cent decrease when compared to the February 2013 value of $490,100. "With a $5 million condominium sale in February, it was no surprise to see average prices for condos rise last month from $328,130 to $373,749," said Ayres. "Since the introduction of the MLS® Housing Price Index (HPI) in November 2013, we've been saying the HPI is a much more reliable measure of price trend data than average prices. Our February MLS® HPI numbers prove it; even with the $5 million sale, February MLS® HPI benchmark pricing for condos in Victoria remained virtually unchanged with an increase of only $400." At the regional level, the MLS® HPI benchmark price for the single family benchmark home in the Core municipalities was $547,800. This benchmark price is virtually unchanged when compared to both the previous month and February 2013. In Westshore, the MLS® HPI benchmark price for the single family benchmark home was $408,500, up 0.9 per cent from January 2014 and a 1.0 per cent decrease compared with last February. The MLS® HPI benchmark price for the single family benchmark home on the Peninsula was $502,600 for February, an increase of 1.1 per cent over the previous month and a 4.1 per cent decrease year-over-year. There were 3,770 active listings at the end of February. While this is an increase from 3489 at the end of January, it is 7.4 per cent less than the 4072 listing that were available in February 2013. Inventory has been on a slow decline for most of 2013 but our normal cycle should result in more inventory as we move into Spring. There were 107 condominium sales in February 2014, up from 92 in January and down from the 112 in February 2013. The region-wide MLS® HPI benchmark price in February for condos was $277,200, down 1.3 per cent from $280,800 from one year ago. For townhomes, 42 sold in February compared to 30 in January and 43 in February 2013. The region-wide MLS® HPI benchmark price for townhomes was $401,500, up 1.4 per cent from $396,000 in February 2013. Total Waterfront Single Family Dwellings sold: 8 At the heart of the MLS® HPI is the concept of the "benchmark" home, a notional home that has the most common features of a typical home in a given area. The benchmark home does not represent any actual house, condo or townhouse, but merely provides an identical example to track changes in market value. There are separate benchmark houses, condos and townhouses in each distinct area of Greater Victoria, enabling the tracking of values on a variety of geographic levels. For more information on the MLS® HPI benchmark prices and index values, visit www.vreb.org. Those requiring specific information on property values in their area should contact a REALTOR®. The Victoria Real Estate Board has more than 1,225 Members working more than 80 Brokerages. VICTORIA,BC – The provincial budget announcement yesterday contained some welcome relief for first-time buyers.
Effective today, the Property Transfer Tax (PTT) exemption threshold for first-time buyers will increase from $425,000 to $475,000. According to the government’s own calculations, this measure will benefit about 1,700 additional first-time buyers by providing them with a potential tax savings of up to $7,500.
Your weekly update on the Victoria Real Estate Market from Royal LePage Coast Capital Realty
"The number of mid-winter listings in Greater Victoria is creeping up as people start shifting their minds back to selling their homes".
· Greater Victoria is blessed with a variety of unique characteristics that attract and retain home buyers, not least of which is having mild weather for the majority of the year. As such, the local real estate market suffers far less of the winter doldrums than centres with harsher climates, where sellers are more likely to delist their properties as they prepare to hunker down for the cold months. Not unlike elsewhere in North America, the number of residential listings go down over the Christmas season in the Capital Region as sellers shift their focus. Historically, there has been a dividing line when business starts ticking upward again, says Bill Ethier, president of Royal LePage Coast Capital Realty. “The ‘Groundhog Day’ used to be Jan. 7, when things started up again, the kids are back in school, people are back to work and dusting off after Christmas,” he says. “That’s when people started calling their Realtors again.” Some years ago, home sellers here fell into the trend of setting things in motion by spring so their home would sell by summer, when moving would be less affected by weather, Ethier says. These days, people are more savvy. Plus, real estate agents advise that waiting to sell until a busier time of year – when there’s more competition for buyers – isn’t necessarily a good strategy. “We always have a Jan. 7 check-in with people who might have taken their homes off the market over the holidays,” Ethier says. “We’re telling people, ‘let’s start now and get it out there while we can.’” Because of that, the market generally sees a spike in the numbers in January. Not only does Greater Victoria’s climate lend itself to moves at any time of year, other factors help reduce ups and downs in the real estate market. People have had a year to get used to federal changes to regulations around mortgage financing and amortization periods. Where the impact of the more limiting lending rules was significant in the days and months after they took effect, Ethier says, buyers can still secure low-interest mortgages. Looking ahead to the spring, he’s encouraged by recent movements in the local market. “On Feb. 6 for example, we saw 51 new properties come on the market. That’s a solid number for this time of year.” Helping brighten the picture are the positive local unemployment numbers announced recently, both signs the economy is improving. The real estate market always benefits from the consumer confidence that is a byproduct of economic growth, he says. While selling prices have remained relatively flat here for the past year or so, property values are expected to increase more than previously forecast, Ethier says. “A year ago we were predicting 2014 at a two per cent increase in the value of properties. Now it’s looking more like four to six per cent appreciation in value.” Looking into his crystal ball, Ethier says Fairfield and Oak Bay continue to be strong investments – they’re the first to go up in price and the last to come down – and Langford will remain popular for its variety of housing options at reasonable prices. He also sees some potential for a rebound in the hard-hit Saanich Peninsula. “The market that has some comeback in it is the condo market, which has been lagging,” he says. Regardless of where one looks, there are good buys out there in all areas. The key is to start looking now, Ethier says.
Source: Don Descoteau, Victoria News February 14, 2014
January Real Estate Market Starts on Solid GroundVictoria Real Estate Board February 3, 2014
VICTORIA BC - Victoria's real estate market had a solid start in January, re-establishing momentum after the holiday season. Total MLS® sales in January were 342, a 16.3% increase over January 2013 when 294 units sold. January sales were close to the 355 sales reported to the Victoria Real Estate Board (VREB) in December 2013. 2014 VREB President, Tim Ayres cautioned, "While we're pleased with the number of sales this January and the percentage increases over January 2013, it's important to remember that the market last January was restrained under tightened mortgage amortization rules imposed in July 2012." The MLS® HPI single family home benchmark price for the entire Greater Victoria region was $481,200 in January, a 1.7% decrease when compared to the January 2013 value of $489,400. "Market activity increased as the month progressed," notes Ayres. "With REALTORS® reporting that attractively-priced and well-presented properties are moving quickly." At the regional level, the MLS® HPI benchmark price for the single family benchmark home in the Core municipalities was $546,300, an increase of 0.6% over the previous month and a 0.5% decrease over January 2013. In Westshore, the MLS® HPI benchmark price for the single family benchmark home was $404,800, virtually unchanged from December 2013 and a 1.5 per cent decrease compared with January 2013. The MLS® HPI benchmark price for the single family benchmark home on the Peninsula was $497,200 for January, a decrease of 0.5% over the previous month and a 4.9% decrease year-over-year. There were 3,489 active listings at the end of January, a 10% decrease over January 2013. "Available inventory slowly declined for most of 2013," says Ayres. "We will continue to monitor this trend and the impact on the market as 2014 unfolds." There were 92 condominium sales in January 2014, the same as December 2013 and 81 in January 2013. The region-wide MLS® HPI benchmark price in January for condos was $276,800, down 1.7% from $281,600 from one year ago. For townhomes, 30 sold in January compared to 32 in December 2013 and 40 in January 2013. The region-wide MLS® HPI benchmark price for townhomes was $398,000, up 0.7% from $395,400 in January 2013. Total waterfront single family homes sold in January: 7 At the heart of the MLS® HPI is the concept of the "benchmark" home, a notional home that has the most common features of a typical home in a given area. The benchmark home does not represent any actual house, condominium or townhome, but merely provides an identical example to track changes in market value. There are separate benchmark houses, condominiums and townhomes in each distinct area of Greater Victoria, enabling the tracking of values on a variety of geographic levels. For more information on the MLS® HPI benchmark prices and index values, visit www.vreb.org. Those requiring specific information on property values in their area should contact a REALTOR®. The Victoria Real Estate Board has more than 1,225 Members working in more than 80 Brokerages. New Listing: Bright 2 Bed Top Floor Corner Unit in 55 Plus Building
This Bright Top Floor corner suite is laid out in a way to make your everyday living comfortable & enjoyable! Lots of large windows to let the light spill through the suite! There is a window above the double sink w/ new Fawcett in the kitchen! The suite has been professionally painted & immaculately cleaned. Just move in! Other features include: 6 appliances w/ flat top stove; Master w/ Bay window & cheater door; in suite laundry, balcony; lots of in suite storage as well as separate; wood laminate flooring; an appealing layout w/ good separation btwn bdrms. Situated in a well maintained 55+ bldg w/ guest suite; workshop; common lounge & controlled entry! Close to all amenities. Hot water included in the monthly strata fee! Pets welcome! #301- 3133 Tillicum Road, Saanich West, Victoria. Offered for Sale at $189,000 More info: http://rosiesays.ca/mylistings.html/details-36492033
2013 Real Estate Market Activity Expected to Carry into New YearVictoria Real Estate Board January 2nd, 2014
VICTORIA BC - Victoria's real estate market ended 2013 with some momentum after a weak first quarter. Total MLS® sales in December 2013 were 355, a 25% increase over December 2012 when 283 units sold. Annually, total units sold increased by 4%, with 5,998 in 2013 compared to 5,747 in 2012. The overall MLS® HPI single-family home benchmark price for Greater Victoria was $479,500 in December 2013, compared to of $495,400 in December 2012, a decrease of 3.2%. "Bear in mind that prices vary from area to area," says Tim Ayres, 2014 President of the Victoria Real Estate Board. "I'm optimistic about the next year. Buyers who were on the sidelines are now out shopping. Savvy buyers need to know that there are some good deals in certain areas, and interest rates are not expected to increase in the near future." At the regional level, the MLS® HPI benchmark price for the single family benchmark home in the Core municipalities was $542,800, a decrease of 1.1 per cent over the previous month and a 2.4 per cent decrease over December 2012. In Westshore, the MLS® HPI benchmark price for the single family benchmark home was $404,200, an increase of 0.1 per cent over November 2013 and 3.6 per cent decrease over December 2012. The MLS® HPI benchmark price for the single family benchmark home on the Peninsula was $499,900 for December, a decrease of 1.6 per cent over the previous month and a 4.1 per cent decrease year-over-year. There were 3,554 active listings at the end of December, a 9% decrease over December 2012, which Ayres notes contributes to stronger market conditions. There were 92 condominium sales in December 2013, compared to 99 in November 2013 and 65 in December 2012. The overall MLS® HPI benchmark price of $278,600 was down 1.2% from December 2012. There were 32 townhome sales in December 2013, compared to 49 in November 2013 and 30 in December 2012. The overall MLS® HPI benchmark price of $392,500 was down 0.5% from December 2012. Total Waterfront Single Family Dwellings sold: 10, also 10 in December 2012 Wishing you all a Happy Holiday Season from Rosie and The Team!
Three cheers! Holiday time is upon us; the perfect excuse to cozy in with our loved ones and indulge in those precious pastimes that mark and celebrate the season.What are some of your favourite holiday activities? Will you sing; play games (big in our family, especially Settlers of Catan); watch Christmas specials; read a good book; seek the snow; seek the sun; eat treat foods (there will be plenty of those!); count Christmas lights; decorate a tree; go visiting; We loved our year working with you. For us it’s all about taking care of you during that transition time of changing homes. For those of you who moved this year, three cheers on having succeeded at that! That will surely be one of your with your move; it’s both our business and our pleasure to make this transition as smooth and advantageous as possible. A great highlight for us this year was our Client Appreciation Party on September 8th in the gorgeous penthouse suite of Victoria’s Regent Hotel. A big THANK YOU to those of you who came; wasn’t that a party?! If you couldn’t make it this year, we missed you! It’s happening again next year on Sunday, September 7th (we’ve highlighted it on your Rosie desk calendar) and we hope you’ll plan on joining us. For a glimpse of the fun we had this year please check out Rosie’s party photos - see our Home Page for more info...
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