Rosemarie Colterman*PREC & Tom Oak *(Personal Real Estate Corporation)
December 1, 2017
Latest Stats from Victoria Real Estate Board: "Victoria Real Estate Market Experiences a Burst of Activity"
A total of 671 properties sold in the Victoria Real Estate Board region this November, 12 per cent more than the 599 properties sold in November last year.
"We suggested last month that some buyers may accelerate their purchase timeline to buy a new home in anticipation of the mortgage stress test on uninsured buyers - those with a down payment of 20 per cent or more - that will come into effect on January 1," says Victoria Real Estate Board President Ara Balabanian. "Judging by the sales we saw in November and what I have heard from our REALTOR® members, some buyers have indeed accelerated their purchasing plans to avoid the stress test. This may change the numbers we see in the early months of 2018, as some buyers who had planned to buy next year have bought a bit earlier."
There were 1,764 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2017, a decrease of 7.4 per cent compared to the month of October and 2.8 per cent fewer than the 1,815 active listings for sale at the end of November 2016.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in November 2016 was $748,500. The benchmark value for the same home in November 2017 has increased by 10.2 per cent to $824,600, which is slightly higher than October's value of $821,900.
"So was this November a record breaker?"asks President Balabanian. "While not a record, it is the highest November sales count we've tracked since 1996. It is also rare that we see November numbers beat October numbers. The fact that we've had an unusual month does not necessarily mean that this is the start of a new trend, it is however, a good example of how outside forces can impact a housing market. It's likely there will be more government-led change in the new year and we'll report on the effects of those changes on the market. Our hope is that the different levels of government coordinate their efforts to avoid a negative compounding effect on the market."
November 28, 2017
Realtor of the Month!
I'm blowing my own trumpet to proudly announce
Royal LePage Coast Capital Realty are featuring me as
Realtor of the Month for December!
November 17, 2017
New Listing: Beautiful 11th floor 1 Bed condo in downtown Victoria
#1103-930 Yates Street, Victoria
Listed at $319,000
Beautiful 11th floor downtown condo in the prestigious Manhattan (a fully remediated steel & concrete bldg with rain-screen tech). This fully rentable suite includes a gourmet kitchen with granite counter tops, eating bar, under counter accent lights, pot lights, garburator, and 4 premium wood bar chairs. The seller took such good care of this suite and added value by upgrading the appliances to high-end SS fridge, stove & dishwasher, and installing gleaming engineered hardwood floors and an upgraded front end loading washer & dryer. The suite also boasts an entertainment size balcony with East and Southern views, including vista views of the ocean! Strata amenities include on-site fitness center, additional laundry facilities, extra storage, bike storage, & meeting room. All-sized pets are welcome! BBQs allowed! No smoking Building! Literally across the street from Market on Yates & London Drugs in the heart of downtown!
November 17, 2017
New Listing: Good sized 2 Bed, 2 Bath suite in 55 plus Building
#115-1485 Garnet Road
Listed at $239,900
November 1, 2017
Latest Stats from Victoria Real Estate Board: "Victoria Real Estate Market Slowly Stabilizing after a Record Breaking 2016"
A total of 664 properties sold in the Victoria Real Estate Board region this October, 9.7 per cent fewer than the 735 properties sold in October last year.
"As expected, we saw fewer sales than this time last year," notes Victoria Real Estate Board President Ara Balabanian. "Looking at the longer term picture however, sales last month were 17.1 per cent above the ten year average of 567 properties for the month of October, so the market is still very active here in Victoria, and this is in spite of the ongoing low inventory levels."
There were 1,905 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2017, a decrease of 3.6 per cent compared to the month of September and 1.7 per cent fewer than the 1,938 active listings for sale at the end of October 2016.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2016 was $752,000. The benchmark value for the same home in October 2017 has increased by 9.3 per cent to $821,900, but is lower than July's value of $834,200.
"The fact that we've seen such a controlled levelling off in the market directly following a year which felt so uncontrollable in terms of demand and pressure on prices illustrates the depth and stability of the Victoria market. An unstable market may have experienced a heavy correction or shift, whereas in our market sales are moderating at a reasonable rate." adds President Balabanian. "In the coming months we expect to see less inventory on the market, because the year end changes buyer and seller behaviours, their focus shifts to holidays and winter weather. One unknown influence that may play on the winter market is the upcoming mortgage stress test. Some buyers may move their purchasing timelines forward to make their home purchases before the stress test on uninsured buyers (those with a down payment of 20 per cent or more) becomes required January 1."
October 19, 2017
New Price & Open House: Fabulous opportunity to own this gorgeous 2 Bed, 2 Bath home on private lot overlooking Golf Course
This one won't last long!....
OPEN HOUSE: Saturday October 21st 2-4pm
789 Country Club Drive, Cobble Hill
Now listed at $489,000
Great value at this new price point! Fabulous opportunity to own this no step rancher on a large, private beautifully gardened & treed lot in the ‘Uplands” section of the Arbutus Ridge community! The large deck, living rm, office & Master look thru a tree lined yard to the first tee of the Arbutus Ridge golf course! This impeccably kept home features: an excellent floor plan; a private 2nd bedroom w/ its own ensuite; 2 sided propane fireplace btwn kitchen & liv rm; spacious kitchen w/ island, skylight & breakfast nook; newer vinyl plank flooring; recently refurbished cedar shake roof; lots of large windows that bring the outside in; laundry rm w/ new Samsung W/D; lots of work & storage room in double garage & large walk-in basement/crawlspace. The complex offers a pool, mtg rms, library, workshop, & boat launch! Just steps away to the 1st tee, covered tennis courts, & great dining at the private Golf Club!
October 2, 2017
Latest Stats from Victoria Real Estate Board: "Victoria Real Estate Market Changes Tempo for Autumn"
Oct 2, 2017
A total of 640 properties sold in the Victoria Real Estate Board region this September, 18.1 per cent fewer than the 781 properties sold in September last year.
"We can certainly feel the difference in the current market when we compare to last year's record breaking numbers. Last year the pace of the market was intense, there was a lot of pressure on pricing and demand," notes Victoria Real Estate Board President Ara Balabanian. "Now the tempo of the market is trending slowly - very slowly - towards more balanced conditions. Recently we've seen overall price increases level out, which can indicate slightly less demand, and inventory is building."
There were 1,976 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2017, an increase of 3.1 per cent compared to the month of August and 4.1 per cent fewer than the 2,061 active listings for sale at the end of September 2016.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2016 was $742,200. The benchmark value for the same home in September 2017 has increased by 10.9 per cent to $823,100.
"Simply because we've seen sales drop from last year is not dire or unexpected news for our local real estate market." adds President Balabanian. "The ten year average for sales in September is 573 properties and the month exceeded that average by more than ten per cent, which indicates we're still in an active market. And of course there are neighbourhoods that are still tracking up in terms of value from last year. It's for reasons like these that now more than ever it makes sense to seek the assistance of a local REALTOR® to sell or buy your home."
September 27, 2017
New Listing: Bright 2 Bed, 1 Bath corner suite in 55 plus Building
#204-1485 Garnet Road
Listed at $219,000
September 26, 2017
New Listing: Lovely 2 Bed, 2 Bath suite in 55 plus Building
#215-1485 Garnet Road
Listed at $239,000
September 26, 2017
Each Spring, we send out a packet of flower seeds and a letter to our valued clients. This has become somewhat of a tradition, with many of our clients eagerly awaiting their arrival! One such client, Judi M. kindly sent us a great photo of her blooming Zinnia's which she was currently enjoying and had grown from our seeds this year.
We were so touched Judi wrote to us and shared her pic that we wanted to share it with you too!
Rosemarie, Tom and Charlotte
September 20, 2017
New Listing: Gorgeous 2 Bed, 2 Bath no step Rancher in great location - Cobble Hill
789 Country Club Drive, Cobble Hill.
Listed at $529,000
This Gorgeous 2 bed, 2 bath, no-step rancher is on a large, private, beautifully gardened & treed corner lot in the smaller, gated ‘Uplands’ section of the adult-oriented Arbutus Ridge community. The luxurious large deck and living room look thru a tree lined yard to the first tee of the Arbutus Ridge golf course! This impeccably kept home also features: recently refurbished cedar shake roof, second bedroom with its own 4 pc ensuite, (perfect for guests), 2 sided propane fireplace opening to both kitchen & living room. Kitchen offers a large island w/flat top stove, skylight, spacious breakfast nook, double sink, pot lights, copious cupboards, and new vinyl plank floors. Large bright living room leads to sunroom, private deck & thru French doors to a bright office/den. Also offering laundry room with new Samsung W/D, lots of work & storage space in double garage & large walk-in basement/crawlspace. Attn. sports fans - just steps away to the 1st tee, covered tennis courts, & great dining at the Arbutus Ridge Golf Club! The complex offers a heated pool, meeting rooms, and library, workshop, and boat launch & community activities.
September 19, 2017
New Listing: Gorgeous, updated, lovingly cared for 3 bed, 2 bath home by Willows Beach!
2594 Beach Drive, Victoria
Listed at $1,099.000
Gorgeous, bright, updated and lovingly cared for 3 bed, 2 bath, plus study Beach Drive home by Willows Beach! Featuring gleaming fir floors, thermal windows, earthquake brackets, solid wood doors, long-lasting faux-wood deck and porch, new front-load washer and dryer. Kitchen offers a new counter-top stove, black quartz counters with glass tile back-splash, top-of-line easy-clean range hood, new Kenmore fridge and wall mounted stove. Professionally landscaped grounds have deer-fencing, computerized sprinkler system, garden shed, large bright gazebo, and raised beds. Parking spaces in garage, driveway, and back lane. Also features 200 amp service, updated wiring and plumbing, double-key Medeco locks on all external doors, leased ADT security system with motion sensors, fiberglass insulation in walls and roof, lower floor with walk-in side entrance, full bathroom, ample storage and utility/work areas. Enjoy short walks to Estevan Village and Uplands Park and daily ocean-side strolls along Willows Beach!
For a full immersive floor plan, click here:http://bit.ly/2xOTm9i
September 12, 2017
Our Sixth Annual Supporters, Friends and Clients Appreciation Party: Sept. 10th 2017
Our Sixth Annual Supporters, Friends and Clients Appreciation Party
- September 10th, 2017
Celebrating Canada's 150th Anniversary!
Our Annual Client Appreciation Party, Sunday ( September 10th), in the Penthouse Suite of Victoria's Regent Waterfront Hotel was another resounding success!
There was a celebratory atmosphere throughout the evening with Canada's 150th Anniversary being the theme. Many of our Guests made an effort to dress in Canadian colours and two lucky guests won prizes for their best Canadian Outfits! As always, we enjoyed live musical performances from our two Guest Artists: Alex Klassen our Cello Soloist and the dynamic duo of Sean Holland's & Suzanne Van Assum's jazzy blues set.
Great fun was had by all, this year we had a successful Fun Photo Booth with a large array of tickle trunk items to dress up in sponsored by Colleen Flynn of Select Mortgage. Many lucky guests received some wonderful Door Prizes sponsored by: Luiz Ambriz of The Office Accounting & Bookeeping Services, Shaun Parke & Associates of World Financial Group, Matt Heath of Proper Measure, Realfoto Media Inc., Homeward Bound Real Estate Team & Charlotte Alcock of Norwex Environmentally Friendly Products. Congratulations to all our winners!. Special Congratulations to the Winner of our Grand Referral Prize who won a 1 Night Stay at the Victoria Regent Hotel in an Oceanfront Executive Suite for up to 4 people with a bottle of Bubbly, Breakfast and free parking included.
Good food, tasty beverages, picture identification contests and vibrant conversation made for a wonderful evening of joy and laughter.
We would like to acknowledge our wonderful Sponsors, along with Rosie, who contributed to the success of our event with numerous valuable door prizes; A top of the range coffee maker, Murchies Tea Gift Sets, Wines, Movie Passes and much, much more.
The event could not have run smoothly without the help of our three daughters; Alexis, Nicolia and Rhea who seamlessly took care of the food, event preparation and delivery from start to finish. A Big “Thank you” to Paul Meakin - our fabulous Bartender for the night!
We are so very grateful to all our clients, it is you that have made this business such a pleasure and success. Many thanks to all of you who attended this year’s event. You made it so special!
Click here and scroll to the bottom of the page for the full Photo Gallery: http://bit.ly/2cM77Zq
September 1, 2017
Latest Stats from Victoria Real Estate Board: "Victoria Real Estate Market Statistics for August 2017"
Sept 1, 2017
A total of 736 properties sold in the Victoria Real Estate Board region this August, 16.6 per cent fewer than the 883 properties sold in August last year.
"I admit to being a little surprised by the August numbers," notes Victoria Real Estate Board President Ara Balabanian. "I expected inventory numbers to be climbing by now, but instead we've seen even lower numbers of listings on the market. This is likely leading to some buyer fatigue along with pressure on pricing in high demand areas."
There were 1,917 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2017, a decrease of four properties compared to the month of July, and 8.5 per cent fewer than the 2,094 active listings for sale at the end of August 2016.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2016 was $743,200. The benchmark value for the same home in August 2017 has increased by 10.8 per cent to $823,100.
"Though much too early to call a trend, we do see that the August HPI benchmark value for single family homes in the Victoria Core area has decreased by 1.3 per cent when compared to July. This is the first time we've noted a decrease in HPI values since August 2015." adds President Balabanian. "That said, this is not an indicator of a huge change in property values across our region. We've seen a phenomenally busy two years in real estate for our area and we are likely heading towards a period of more balanced activity. Note too, that though the overall HPI value shows a small month over month decrease - specific areas and specific types of product have seen increases. For example, condominiums across the entire region are up by half a percent compared to the previous month and single family homes in North Saanich have increased in benchmark value by almost one per cent. It's for reasons like these that now more than ever it makes sense to seek the assistance of a local REALTOR® to sell or buy your home."
August 12, 2017
New Listing: 3 Bed home in great complex close to Galloping Goose/Thetis Lake
B101-201 Nursery Hill Drive, View Royal
Listed at $399,000
Great opportunity to own one of the few 3 bedroom units in this lovely complex! The Aspen, with a beautifully designed exterior, is only seconds from the Galloping Goose Trail and steps to Thetis Lake. What a location! This 3 bed/2 bath suite boasts an open concept living/kitchen space. The Kitchen offers granite counters, stainless steel appliances and eating bar. The private patio off the living room is great for BBQ's. Other features include: electric fireplace in the living room, brand new front end loaders in the suite, a spacious Master with ensuite & walk in closet. The suite looks out over the Garry Oak Meadow Park, which is located right across the street! With pets and rentals allowed, designated underground parking, extra storage and fully equipped exercise facility makes this an ideal place for families to live.
August 2, 2017
Latest Stats from Victoria Real Estate Board: "Victoria Real Estate Market Remains Hot Into the Summer Months"
Aug 1, 2017 - "The activity level in the Victoria real estate market continues to be brisk, though we always expect a slowdown in the summer months," says 2017 Victoria Real Estate Board President Ara Balabanian. "This July, we saw a strong focus on the lower priced end of the market, with condos and townhomes and single family homes listed for under $700,000 in high demand. Many of those properties saw multiple offer situations."
July 28, 2017
Your dream of owning property by the lake is that bit closer! - price reduction on our Pender Island property.
36123 Galleon Way
New Price: Now Listed at $179,000
Check out our beautiful property situated at 36123 Galleon Way on Pender Island.
Imagine yourself on a summer's day relaxing on your forested property, maybe doing a spot of fishing or swimming, hearing the birds, enjoying the tranquility in your own piece of paradise...... this could become reality!
It comprises 0.33 of an acre of lakefront real estate. This building lot faces south west on pristine Buck Lake, the preferred lake on Pender, initimate and tranquil. It is also the primary water reservoir for the local area, so the water is wonderfully clean and clear.
Contact us now for more info and to arrange your showing!
July 5, 2017
OPEN HOUSE: 3 Bed, 2 Bath home just yards from Shawinigan Lake!
OPEN HOUSE: July 9th 1-3pm
2745 Heald Road, Shawnigan Lake
Listed at $439,000
This great home on a .42 acre corner lot, is just yards from Shawnigan Lake; a block to the Village, near a boat launch & regional park & just 10 min. to Mill Bay. Features: a huge kitchen w/ skylights, large windows and great lake views; private courtyard; spacious living room w/ vaulted ceiling, laminate floors & a certified fireplace! Recent updates include:New Septic system in 2017 ($23K); New perimeter drains in 2016 ($8.6K); new shower, new dry walling and paint; updated to-code electrical; large garage/workshop; separate 16x12 utility shed w/own breaker & outlets; & parking for 3+ vehicles! Just cross the unused E&N rail line to enjoy Shawnigan Lake-side pleasures without paying a Shawnigan Lake-front price!
July 4, 2017
Latest Stats from Victoria Real Estate Board: "Victoria Real Estate Market Continues Tempo of Steady Sales Throughout June"
July 4, 2017 - "This year may feel a bit steady and less exciting when compared to last year's record-breaking market. People are getting used to this new tempo of brisk sales," says 2017 Victoria Real Estate Board President Ara Balabanian. "However, when we look at the longer term numbers, we're in a very active market. This June we counted over one thousand properties sold, while the ten year average for sales in the month of June is 798. If we remove 2016 sales, this June would have been the record breaker."
June 29, 2017
The Breakfast Club at the Open Door
On Friday morning once a month, from 7 to 8am, I join a group of good hearted real estate colleagues serving a nutritious meal at the Our Place Society facility:
(www.ourplacesociety.com) on Pandora Street.
We call ourselves The Breakfast Club.
I have been part of this group for a couple of years and, while it feels good to participate,
this experience definitely takes me out of my comfort zone. It can feel like, first arriving there, that I’m crossing a line to ‘the other side.’
Many of those who come for breakfast aren’t homeless but all in some way are, or likely feel that they are, at the margins of our affluent city.
When I started doing this I expected to encounter a lot of anger and grief amongst those we served. There are smatterings of that. But mostly our breakfast patrons are friendly, warm, smiling, and grateful. They come in all adult varieties; old, young, male, female, drug-addled, wheel chair bound, wise, confused, well dressed, and ragged.
While there I never feel that I’m on ‘the other side’ of any great social divide.
Rather, I feel comradery and belonging.
We are all just humans after all; doing our best with what today offers.