Vancouver, BC – April 7, 2009. A survey of homeowners and renters across British Columbia suggests that, when it comes to housing, affordability concerns and making smart green choices are top of mind for most BC residents.

Sponsored by the British Columbia Real Estate Association (BCREA), the January 2009 Mustel Group survey examines the top affordability barriers in the province and how provincial taxes and homeowner assistance programs impact BC buyers.

A total of 38 per cent of British Columbians plan or hope to purchase a property within the next five years, with about half of these potential buyers expecting to do so in the next two years.  

“Following the May 12 election, quick actions by the newly elected provincial government on key issues of interest to the real estate sector may assist these buyers in their home buying decisions, while also potentially empowering those who are currently unable to purchase a home,” says BCREA President Scott Veitch.

Survey findings indicate that availability of affordable properties is the key barrier in a home purchasing decision. Other major financial barriers include employment security, ability to qualify for a mortgage and the provincial Property Transfer Tax.

“We’ve never reached out to the public quite like this before,” notes Veitch. “This survey helped create a clearer picture of the key issues facing homeowners, renters, buyers and sellers in this province. When the new government is formed, the information in this survey will help uask for changes that make home ownership more affordable for British Columbians."
The survey findings also provide information on the green choices BC residents are making at home and the data suggests that about three out of every four British Columbians have already taken steps to make their homes more environmentally friendly.

Water conservation, home energy assessments and general awareness of federal and provincial green programs are also addressed by the findings.

“All British Columbians can play a part in reducing household greenhouse gas emissions,” says Veitch. “Green choices are smart choices and they help improve the Quality of Life in our communities. They can also impact affordability of ownership by reducing the operating costs of your home.”

To obtain a full copy of the survey results and for more information on BCREA’s key issues, please visit www.bcrealestatevote2009.com.

For more information, please contact:                                 
Sean Horlor, 778.320.7326
Survey conducted:January 22 – January, 2009 by Mustel Group Market Research
Methodology:Random sample of BC adults, 18 years of age and over
Margin of error: n=600, +/-4% at the 95% confidence level
Sponsored by: British Columbia Real Estate Association

About BCREA
BCREA represents the 12 real estate boards in British Columbia and their REALTOR® members on all provincial issues, providing an extensive communications network, required licensing and continuing education courses, economic research and analysis, standard forms and government relations. To learn more, visit www.bcrea.bc.ca.

About Quality of Life
Quality of Life is an approach BCREA adopted to demonstrate the commitment of the real estate profession to improve Quality of Life throughout the province. REALTORS® are active in their communities, and Quality of Life ensures BCREA reflects that work. The approach is summarized in five principles: ensuring economic vitality, providing housing opportunities, preserving the environment, protecting property owners and building better communities. Learn more about Quality of Life at www.qualityoflife.bcrea.bc

April 1, 2009

 

Real Estate Sales Gain Momentum in March

 

Real estate sales throughout Greater Victoria gained momentum in March. A total of 602 homes and other properties sold in March through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) up a significant 49 per cent from the 403 sales in February. There were 707 sales in March of last year. Prices, meantime, remained very stable with modest increases in some sectors. There were 3,859 properties available

for sale at the end of March. That represents a seven per cent increase compared to March of last year and only a minor increase from the 3,844 properties available for sale at the end of February.

 

Victoria Real Estate Board President, Chris Markham, says the rebound in the market over the last month is welcome news. “Total sales last month were higher than the March figures during each year from 1995 to 2001 – a market which we considered to be balanced.” said Markham. “Sales seemed artificially low in January and February. Lower interest rates and the resulting increased affordability have energized the entry-level housing market. Last month’s substantial increase exceeded my expectation and provides us with renewed confidence that the market is returning to a healthy and balanced state,” he added.

 

Markham noted that prices remained strong and stable in March. The average price for single family homes sold in Greater Victoria last month was $534,689 down slightly from $542,396 in February. However, the median price rose to $503,751. The six-month average was $540,244. The overall average price for condominiums was $294,393 last month up from $286,985 in February. The average for the last six months was $288,661. The median price for condominiums also rose in March to $266,500. The average price of all townhomes sold last month was $405,003 up from $381,383 in February. The six month average was $398,320 while the median price in March was $356,450.

 

MLS® sales last month included 343 single family homes, 163 condominiums, 64 townhomes and 11 manufactured homes.

I just sold this Condominium at 304 7 Gorge Rd W, Victoria, BC .

View this recently sold Condominium or see all my home sales

 I Love Victoria - Elk Lake

For my New Year's Resolution, I decided to walk more.  I hate exercising in a gym but I love to walk and hike.  I think of it as sightseeing.  All of you other exercise haters - listen up -  get out and walk in the great outdoors of Victoria.  Spring has sprung at least three weeks early - so go for a walk outside, enjoy it, and get healthy at the same time. 

For those of you who have read other "I love Victoria" entries, you will recall my guarantee that something excellent is within 20 minutes from our homes by any transportation (foot, bike, car).  It takes 20 minutes for me to walk to Hollydene Park from my sweet home.  For me, there is nothing more relaxing than being at the ocean.   I haven't disclosed my favorite 20 minute bicycle destination yet.  But my favorite 20 minute driving destination is Elk Lake. 

Elk Lake is the larger and northernmost of the attached lakes. It is shared by swimmers, anglers, and rowing enthusiasts. In warmer weather, I like to take my pontoon boat and go fishing for rainbow trout here. Or, at least, I remember doing this before I went into real estate.  Beaver Lake is the southern lake and the two waters attach via a tributary.

Surrounding the lake is a 10 km, level-grade trail. I've walked it twice this week. It has been a long time since I've walked 10km. I probably haven't done it since I did the West Coast Trail many years ago. It took me 2 hours both times. It is a really nice break from the working routine. I love listening to music and just putting one foot in front of the other.

The trail is very smooth, there are no roots or large rocks to trip you up. Anyone can walk or jog it and there are several parking areas at both lakes. There are benches along the way if you need to rest and soak up the view. Bicycles are not permitted on a large section of the trail. Horses are permitted on a small section and dog walkers love it, of course. The majority of people you see will greet you with a friendly hello or a smile.

Hiking in the early spring is very advantageous - there are no leaves to block your view, there are no bugs, and it isn't too hot or cold. It's just perfect – because it is Victoria. We've endured our month of winter weather. It was tough, I know. We had to suffer through the temperatures dipping below zero for a few days and we had a week or more with snow on the ground. But we got through it. Phew!

Currently they are digging out from another snowstorm on the East Coast. Don't they know?  Hasn't anybody told them? The West Coast is the best coast!

 

Real Estate Sales Rebound in February

 

Real estate sales rebounded in February with a substantial increase over January. A total of 403 homes and other properties sold in February through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) up 63 per cent from the 247 sales in January. There were 619 sales in February of last year. Prices for single family homes and condominiums, meantime, rose slightly. There were 3,844 properties available for sale at the end of February. That represents a 16 per cent increase compared to February of last year and a modest increase from the 3,678 properties available for sale at the end of January.

 

Victoria Real Estate Board President, Chris Markham, says the dramatic increase in sales is a very positive sign. “The big increase in sales over January is very good news and shows us that despite the widespread economic uncertainty we still have a vibrant local housing market.” Markham added that although last month’s sales were

still well below the figures for February of last year, it’s important to remember that the early part of 2008 was still marked by an exceptionally strong market. “It was not until the latter part of last year that we saw significant declines in the number of sales,” noted Markham. He added that last month’s sales reflect a return to the typical February numbers that were in evidence in the late 1990s which was considered to be a stable market.

 

Markham added that overall continuing stability in prices last month is also welcome news. “The average prices for single family homes and condominiums rose last month while prices for townhomes dipped slightly.” The average price for single family homes sold in Greater Victoria last month was $542,396, up from $526,148 in January. The six-month average was $544,357 while the median price was $485,250. The overall average price for condominiums was $286,985 last month up from $259,742 in January. The average for the last six months was $293,775. The median price for condominiums in February was $250,000. The average price of all townhomes sold last month was $381,383 down from $393,982 in January. The six month average was $398,036 while the median price in February was substantially lower at $360,000.

 

MLS® sales last month included 223 single family homes, 109 condominiums, 47 townhomes and seven manufactured homes.

2009 Housing Market Off to a Slow Start

 

Property sales throughout Greater Victoria in the first month of the year got off to a modest start amid continuing concern by buyers and sellers over the economy.

 

A total of 247 homes and other properties sold in January through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) up slightly from the 239 sales in December. There were 464 sales in January of last year. Last month’s sales were the lowest January sales in over 18 years. There were 3,678 properties available

for sale at the end of January. That represents a 22 per cent increase compared to January of last year but a further decline from the 3,824 properties available for sale at the end of December.

 

Victoria Real Estate Board President, Chris Markham, says the uncertain economic climate continues to have an impact on the local housing market. “It’s clear that many people are holding off on the decision to buy or sell unless they have to and are waiting until they have more confidence both in terms of their personal financial situations and in the market as a whole.” Markham cites the decline in the number of active listings over the past three months as further evidence of a “wait and see” approach among sellers.

 

The slowing market has also had an impact on prices, especially for single family homes and condominiums. The average price for single family homes sold in Greater Victoria last month was $526,148, down from $548,025 in December. The six-month average was $545,984 and the median price in January was $475,000, down from $507,500 in December. Markham noted that the softening in prices has led to improved affordability,

“Forty-two per cent of single family homes last month sold for under $450,000.”

 

The overall average price for condominiums was $259,742 last month compared to $280,487 in December. The average for the last six months was $297,649. The median price for condominiums in January was $255,000. The average price of all townhomes sold last month was $393,982 up from $389,371 in December. The six month average was $405,718 while the median price in January was substantially lower at $382,500.

 

MLS® sales last month included 141 single family homes, 62 condominiums, 32 townhomes and five manufactured homes.

As beautiful as Victoria is, it does have a few areas of bad traffic congestion.  Arguably the most important, and most overdue, road improvement project would be the McKenzie overpass.  Troy DeSouza, the Conservative candidate for the Esquimalt-Juan De Fuca region, has an article in today's Times Columnist that urges concerned citizens to sign a petition to support this project and get federal funding while the government is spending dollars to improve our economy.  You can read his article here:  http://www.timescolonist.com/Business/time+moving+McKenzie+overpass/1179804/story.html

 

Let's get rid of the "Colwood crawl."  Add your name to this important petition at www.mckenzie-overpass.ca

 

K

 

View from Hollydene Park.

No matter where you live in the Greater Victoria area, I can guarantee that it is 20 minutes to heaven from the doorstep of your sweet home.  Whether your mode of transportation is foot, bicycle, or car, it is 20 minutes to something you will find wonderful.  I am a nature lover, so I will profile the outdoor areas that I find heavenly. 

When I first moved to Victoria, I lived on Portage Inlet.  On foot, I could walk around this beautiful attraction and enjoy the views of the water and the many birds that frequent it.  Then I moved to Lake Hill and enjoyed walks around Christmas Hill, taking in the breathtaking views of our oceanside city. 

Now I live in Saanich and it takes me 20 minutes to walk to Hollydene Park.  Today was a nice, mild day so I decided to take a break from my computer and go for a walk there.  Unfortunately, I missed the sunshine while I was on the computer and it clouded up a bit for my pictures.  Here are some pictures of my favourite 20 minute walking destination.

K

 

 

January 2, 2009

2008 – A Year of Change in Victoria Area Real Estate Market

 

Following several years of significant price increases and exceptionally strong sales in 2007, the Victoria area housing market softened in 2008. Total sales of homes and other properties fell by 27% compared to 2007 while the value of all property transactions through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) dropped from over $4.1 billion in 2007 to $3.1 billion last year.

 

Victoria Real Estate Board President Chris Markham noted that due largely to increases in the early part of 2008, overall average prices for the year as a whole showed modest increases compared to2007. “The overall average price for single family homes rose three percent last year; the average price for condominiums rose just under one percent while the average price for townhomes rose 5.6%.” Markham notes there has been some softening in prices in recent months and anticipates the market will stabilize during 2009.

 

Markham noted that sales continued to decline in December, though overall prices showed little change. The average price of single family homes in Greater Victoria last month was $548,025; the six-month average was $556,458. The median price was considerably lower at $507,500. The average price of all condominiums sold in December was $280,487; the average for the last six

months was $302,566. The median was again lower at $253,750. The average price for townhomes sold last month was $389,371; the average for the last six-months was $418,364. The median price was $368,000.

 

There were 239 MLS® sales last month, down from 408 sales in December of last year. There were 268 sales in November. Sales last month included 140 single family homes, 53 condominiums, 28 townhomes and eight manufactured homes. There were 3,824 properties listed for sale on the MLS® system at the end of last month, up 37 per cent from the 2,799 properties in the same month a year ago.

Another wonderful Christmas Eve in Victoria.  Right now it is sunny and the roads are clear.  Langford, the Malahat, Comox, and Vancouver are all stuck in another snowstorm but, so far, Victoria has come out smelling like a rose. 

Last Christmas Eve, I was walking the seawall in James Bay after going to see the sellers of a sweet home.  It was sunny, the skies were clear, and the view of the water was beautiful.  It was just another moment that reminded me how much I love it here.  Why travel elsewhere?  Make your family come to Victoria.  Is there a better place to spend Christmas?  I think not!

Merry Christmas!

K

 

 

As always a request to those who love Victoria.  Please send in your story, poem, or photo and I will post it on www.sweethomevictoria.com.  Let's show the world why this is the best place on Earth.

Like most of North America, Victoria has been at the mercy of a large Arctic storm.  Hopefully you are lucky enough to have the day off.  Take the time to trace a snow angel, have a snowball fight, toboggan, or build an igloo.  Middle aged men are getting trimmer waistlines as they are pulled away from the buffet of sweet treats and shoved outside into the frigid winds with a snow shovel in hand.    Snowmen get a rare chance for a short and sweet life on the West Coast!

Our road crews are doing a great job at keeping the arterial routes clear and safe.  We may not have a lot of trucks but they are certainly accomplishing a lot.  I have yet to miss an appointment due to road conditions.  Take your time and get there safely. 

Snow storms are a rarity in Victoria.  When it happens it is a pleasant novelty, an inconvenience for some, but we grin and take it.  We know that sunny days are not far ahead.  It won't be long until we have to mow the lawn, right?

I hope the white Christmas adds to everyone's enjoyment of the holidays.  Wishing you all a very Merry Christmas.  Peace and Prosperity for 2009!

K

 

 

 

 

Do you love Victoria?  Send in your story, poem, or photo and I will post it on www.sweethomevictoria.com.  Let's show the world why this is the best place on Earth.

I L♥ve Victoria

 

Chapter 1: Entranced

View from Mt. Doug on December 4th, 2008, at 3:15pm.     

     I think Victoria is the sweetest home on Earth.  In this time of economic loss, political posturing, and holiday bustling, let us not forget one thing! It is December 4, 2008, and it is sunny and gorgeous outside because this is Victoria and we have the best climate in Canada.

     For the first entry into this journal, I want to tell you how I fell in love with Victoria. You need to know where I came from to help appreciate it. I grew up in a tiny town called Sorrento. To condense the enjoyment of my first sixteen years─I lived in a small town beside the big, gorgeous Shuswap lake and never had a boat! All the shops and stores closed early, so you couldn't get a tank of gas or a pack of Smarties past 8 pm (people in Sooke can relate). My next move was to the college at Kamloops─an arid, somewhat malodorous city with hot, stagnant summers plus winters with bone-chilling, gale force winds that will penetrate anything you wear. Climate is very important to whether or not I enjoy a city. I don't like to be too cold or too hot. Who does?

     At 21 years of age, I traveled to Vancouver─the city many small town B.C. boys and girls dream of. I started working as a respiratory therapist and married the most caring nurse I could ever meet. My wife and I worked together at B.C. Children's Hospital for and helped save hundreds of lives. I still praise any hospital employee for the amazing, sometimes heartbreaking work they do. After almost a decade of working in the hospital, we decided we needed to take a year off to travel.  December, 2002, just before Christmas, we sold our leaky/remediated condo and flew to Thailand without even booking a hotel.

     I will condense our 9 month trip abroad. That isn't what this story is about. I can say that we saw the beaches and mountains of Thailand, the beauty and poverty of Cambodia, the white sands and crystal clear waters of Malaysia. But everyone has to return to reality sometime. We flew back to Vancouver, the city where we had a third of our lives, but it just wasn't home anymore. Something had shifted in us. Homeless, we decided to spend a month in Victoria with our catsitters.

     Our two friends lived in Metchosin—a big, beautiful house on 4 acres of land. While enjoying coffee on the deck, we could watch sheep grazing in neighboring pastures and deer munching beside our house. We loved Devonian Regional Park and the walks along the ocean. We picked blackberries and walked along the bluffs. Even the drive into Victoria from Metchosin seemed wonderful compared to the rat race of Vancouver.

     My wife and I found jobs with VIHA and returned to our old careers at Victoria General Hospital. We decided to rent for a year─a decision that will forever haunt me now that I'm in real estate as prices went up a lot while we waited. However, by extending our budget for our rental allowance, we rented a waterfront house on Portage Inlet, within walking distance to the hospital. What a paradise! We couldn't believe that we were living on an ocean inlet just 10 minutes from downtown Victoria. For months, we didn't have a TV. We stared out the huge picture window, completely entranced with the beauty of the birds and wildlife.  And we had yet to discover the Gorge, Swan Lake, Mt. Doug, and the many other natural treasures Victoria has to offer.

    

Portage Inlet, my backyard for a year.

     By now, we knew we were never leaving. I changed careers and went into real estate because I wanted to work with properties like the one I was living in. Victoria has so many sweet homes! Victoria's blend of nature and urban living is beyond comparison. It is as beautiful here as the most tropical paradises in Thailand—the ocean is just colder, much colder.

     I still travel to Thailand, Mexico, and other warm climates for vacations where I can swim in the ocean without risking hypothermia. But when I return home, flying over Vancouver Island, I always realize how much I love it here.

K

 

If you love Victoria, please send me your essay, photos, poems, etc. and allow me to post them for our worldwide viewers to enjoy on this website.  sweethomevictoria@gmail.com

Cautious Buyers Lead to Decline in November Sales

The number of property sales throughout Greater Victoria declined in November as buyers remained

cautious due to concerns over the economy and direction of the market.

A total of 268 homes and other properties sold in November through the Victoria Real Estate Board’s

Multiple Listing Service® (MLS®) down from the 316 sales in October. There were 623 sales in

November of last year. November’s sales were the lowest monthly sales since December, 1999. The

number of properties available for sale at the end of November was 4,459. That represents a 40 per

cent increase compared to November of last year but a further decline from the 4,680 properties

available for sale at the end of October.

Victoria Real Estate Board President, Tony Joe, says it’s clear the uncertain economic climate is having

an effect on the housing market. “More people are taking a ‘wait and see’ approach and are less

inclined to buy or sell unless they have to given all the uncertainty we hear about almost every day.

Despite this, so far there has only been a modest effect on prices for single family homes and

townhomes.” Joe noted that the average price of single family homes in Greater Victoria last month

was $524,128, down from $565,741 in October; the six-month average was $562,772 though the

median price in November at $500,000 was up slightly from $495,000 in October.

Condominium prices were most affected last month. The overall average price for condominiums was

$273,890 last month, posting a significant decline from $323,028 in October. The average for the last

six months was $308,133. The median price for condominiums in November was $258,450. The

average price of all townhomes sold last month was $447,370 up from $389,731 in October due in large

part to two sales, one in Victoria for over $775,000 and one in Sidney for over $950,000. The six month

average was $425,086 while the median price in November was substantially lower at $372,250.

MLS® sales last month included 153 single family homes, 77 condominiums, 20 townhomes and seven

manufactured homes.

Here is the report for October as written by Tony Joe, president of the Victoria Real Estate Board.

 

Property Sales Soften in October; Prices Remain Stable
The number of property sales throughout Greater Victoria declined in October while prices remained
stable.
A total of 316 homes and other properties sold in October through the Victoria Real Estate Board’s
Multiple Listing Service® (MLS®) down from the 512 sales in September. There were 708 sales in
October of last year. The number of properties available for sale at the end of October was 4,680. That
represents a 41 per cent increase compared to October of last year but a slight decline from the 4,754
properties available for sale at the end of September.
Victoria Real Estate Board President, Tony Joe, says despite the decline in the number of sales, it is
important to keep the market activity in context. ”The last six years have seen extraordinary growth.
Last year in particular was truly exceptional both in terms of sales and prices so comparisons must be
made with care. A more realistic comparison would be with 1998 -- a year in which sales and inventory
levels were comparable to today and a time when the market was considered to be strong and stable.”
Joe noted there has been a total of 6,012 sales in the first ten months of this year compared to 4,571 in
the corresponding period in 1998. There were 4,057 active listings at the end of October, 1998
The average price of single family homes in Greater Victoria last month was $565,741, up from
$549,284 in September; the six-month average was $574,848 though the median price in October was
considerably lower at $495,000. There were seven single family homes that sold for over $1 million in
October, including two in Oak Bay, one of which sold for between $2 million and $3 million.
The average price of all townhomes sold last month was $389,731, down from $405,287 in September;
the six month average was $425,866. The median price in October was $369,500. The overall average
price for condominiums at $323,028 last month was up from $319,562 in September. The average for
the last six months was $316,644. The median price for condominiums in October was $280,000.
MLS® sales last month included 184 single family homes, 76 condominiums, 26 townhomes and eight
manufactured homes.

Property Sales and Prices Steady in September

Both the number of property sales and overall prices throughout Greater Victoria remained steady in

September, showing little change from August.

A total of 512 homes and other properties sold in September through the Victoria Real Estate Board’s

Multiple Listing Service® (MLS®) down minimally from the 517 sales in August. There were 632 sales

in September of last year. The number of properties available for sale at the end of September was

4,754. That represents a 41 per cent increase compared to September of last year.

Victoria Real Estate Board President, Tony Joe, says despite the recent global economic uncertainty,

the latest sales and price figures are encouraging. ”These figures attest to the continuing stability and

strength of the local real estate market despite the troubling economic news that we hear so much

about,” said Joe. “While the average price of single family homes sold last month was virtually

unchanged from August and the average price for townhomes dropped slightly, the average price of

condominiums sold increased last month,” Joe added.

The average price of single family homes in Greater Victoria last month was $549,284 showing little

change from $549,914 in August; the six-month average was $585,643 though the median price in

September was considerably lower at $500,000. There were 18 single family homes that sold for over

$1 million in September, including three on the Gulf Islands.

The average price of all townhomes sold last month was $405,287, down from nearly $414,000 in

August; the six month average was $427,207. The median price in September was $370,000. The

overall average price for condominiums at $319,562 last month was up from just over $302,000 in

August. The average for the last six months was $318,315. The median price for condominiums in

September was $276,000.

MLS® sales last month included 309 single family homes, 111 condominiums, 53 townhomes and 12

manufactured homes.

Stay tuned, folks.  I will be working with Fair Realty starting this Friday.  Negotiable commissions.  You can still save thousands while offering a competitive commission to facilitate a quick sale.  I'm really excited about the potential my business offers with Fair Realty

K

Here is the latest monthly review issued by the Victoria Real Estate Board.  It has been a slow summer, especially August, but I've already noticed an improvement in viewings and deals since September started.

Property Sales and Prices Soften in August

Sales of homes and other properties in the Greater Victoria area followed the expected trend and softened last month as many people enjoyed vacation time. Prices also moderated slightly. A total of 517 homes and other properties sold in August through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) compared to the 616 sales in July. There were 846 sales in August of last year. Victoria Real Estate Board President, Tony Joe, notes that today’s buyers now have more properties from which to choose than at any time since 1996. “The number of properties available for sale is now at the highest level in over 12 years, increasing in August to 4,657. That represents a 39 per cent increase compared to August of last year.” Joe notes that prices moderated last month with nearly 46 per cent of single family homes selling for under $500,000. “The average price of single family homes in Greater Victoria last month was $549,914, down from over $578,000 in July; the six-month average was $592,582 though the median price in August was considerably lower at $512,000.” Joe added that it’s important to note that in August of last year, the median price was virtually the same at $515,000 and this is testament to the ongoing strength of the local market. Eleven single family homes sold for over $1 million in August, including two sales on the Gulf Islands. The average price of all townhomes sold last month was $413,994, down from nearly $455,000 in July; the six month average was $435,309. The median price in August was $382,000. Joe noted that the overall average price for condominiums at $302,200 last month was virtually unchanged from July. The average for the last six months was $319,825. The median price for condominiums in August was $280,000. MLS® sales last month included 269 single family homes, 160 condominiums, 53 townhomes and eight manufactured homes.

 

While the use of average price information can be useful in establishing trends when applied over a period of time, i.e. six months or longer. The Victoria Real Estate Board cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR®.

How about some jokes today?

>>>>>>>>>>>>>>>>>>>>>>>

A client bought a new home and the REALTOR wanted to send flowers for the occasion.

They arrived at the home and the owner read the card; it said, "Rest in Peace".

The owner was angry and called the florist to complain. After he had told the florist of the obvious mistake and how angry he was, the florist said. "Sir, I'm really sorry for the mistake, but rather than getting angry you should imagine this: somewhere there is a funeral taking place today, and they have flowers with a note saying, "Congratulations on your new home".

>>>>>>>>>>>>>>>>>>>>>>>

Best Deal in TOWN:
One Sunday afternoon a couple sees an ad in the paper. They can't believe their eyes. There is a house in the paper for $1000 that is in the nicest part of town. We are talking about a Highland Park mansion for $1000. They think this has to be a misprint, but decide to call anyway.
They say to lady who answers we saw your ad, and realize it is a misprint correct. She tells them no it's not & you are actually the first ones to call.
They decide to go look at the house. They race over as fast as they can. They pull up to the most beautiful house on the block. In front of the house is a fountain that cost at least $30,000. They ring the door bell & the lady answers. She starts showing them the house. They realize this house is over 5000 sq ft and it is obvious that no expense was spared while building this house. The house had marble imported from Italy & a chandelier imported from France. The landscaping was breath taking & the house had a great pool & a tennis court.
The couple said to the lady this is the most beautiful house we have ever seen, what's the catch? The lady assured the couple there was no catch. The couple wanted the house for $1,000 but was leery of doing the deal. Finally the lady said you seem like a nice couple, so I'll let you know the truth.
She told them this house is completely paid for, and not a penny is owed against it. Well, last week I got a call from my Husband. He informed me he is leaving me for his secretary. He then told me I could have everything we own as long as he could have the proceeds of the sale of the house. I agreed and he asked me if I could sell the house while he & his new girlfriend hung out in the Caribbean?
HOUSE SOLD.

>>>>>>>>>>>>>>>>>>>>>>>

AGENT: "How much are they asking for your rent now?"
BUYER: "Oh, about twice a day."

>>>>>>>>>>>>>>>>>>>>>>>

When the last of their three children was about to leave home, my parents decided to buy a smaller house.

The Real Estate sign went up.

A week later, a second "For Sale" sign appeared two doors away.

"Soon you'll have new families on either side of you," my mother remarked to the neighbor whose house was in the middle. "We're thinking of putting up our own sign," she replied wistfully. "It would read: 'Was it something we said?' "

>>>>>>>>>>>>>>>>>>>>>>>

"This house," explained the REALTOR, "has both its good points and its bad points. To show you I'm honest, I'm going to tell you about both.
"The disadvantages are that there is a chemical plant one block south and a slaughterhouse a block north."
"What are the advantages?" inquired the prospective buyer.
"The advantage is that you can always tell which way the wind is blowing."

Summer Sales Soften – Most Prices Show Little Change
Sales of homes and other properties in the Greater Victoria area softened last month though prices for
single family homes and townhomes showed little change. The average price for condominiums
moderated somewhat. A total of 616 homes and other properties sold in July through the Victoria Real
Estate Board’s Multiple Listing Service® (MLS®) compared to the 723 sales in June. There were 922
sales in July of last year.
Victoria Real Estate Board President, Tony Joe, notes that today’s balanced market and a larger
inventory of properties for sale give buyers more choice and flexibility. “The number of properties
available for sale increased modestly from the previous month rising to 4,557. However, that
represents a 34% increase compared to July of last year and inventory now stands at the highest level
since May, 1998.” Joe notes that prices remain stable. “The overall average price of single family
homes and townhomes showed little movement last month,” said Joe. The average price of single
family homes in Greater Victoria last month was $578,177; the six-month average was $596,659
though the median was considerably lower at $529,900. Eighteen single family homes sold for over $1
million, including three sales on the Gulf Islands.
The average price of all townhomes sold last month was $454,918; the six month average was
$435,786. The median price was $417,450. Joe noted that the overall average price for condominiums
at $302,536 moderated last month, the lowest monthly average since May, 2007. “It’s important to
note, however, that the average for the last six months was $324,583 showing little change from the
$326,904 six month average at the beginning of the year,” added Joe. The median price for
condominiums in July was $285,000.
MLS® sales last month included 359 single family homes, 168 condominiums, 52 townhomes and 10
manufactured homes.

Hi Everyone,

During the course of my day to day activities, I occasionally come across potential clients suffering from what I like to call "My House Is A Castle" syndrome. While the following joke doesn't mimic this, there are some similarities.  (ps.  You have to click on "Read More" if you can't see the images)

This is your property as viewed by Yourself:

 

As Viewed By Your Buyer: 

As Viewed By Your Lender:

 

As Viewed By Your Appraiser (I'm never this harsh!)

 

Finally, As Viewed By Your Tax Appraiser: