Properties in Victoria Professionals™

Victoria BC Real Estate - BC Home Sale Remain Stable

2011-09-14T11:00:00.000-07:00

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province rose 16.4 per cent to 6,504 units in August compared to the same month last year. The average MLS® residential price climbed 10.7 per cent to $539,953 last month compared to August 2010.

“BC home sales edged up one per cent in August compared to July on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. “Low mortgage interest rates continued to underpin housing demand in the province last month.”

“Total active listings in the province remained elevated in August,” added Muir. “Most regional markets exhibited buyer’s market conditions, meaning little upward pressure on home prices.”

Year-to-date, BC residential sales dollar volume increased 17.7 per cent to $31.7 billion, compared to the same period last year. Residential unit sales increased 2.6 per cent to 55,132 units, while the average MLS® residential price rose 14.7 per cent to $574,962 over the same period.

For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2011-08.pdf.

If you are planning to purchase real estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and the know how to meet your needs. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.comor just email Bill and Dave.

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, the Island Road Racers and the Victoria Chamber of Commerce

Luxury Real Estate Victoria BC - BCREA 3rd Quarter Housing Update

2011-08-25T16:42:00.000-07:00

Moderate Growth in Housing Demand Through 2012

Vancouver, BC – August 25, 2011.The British Columbia Real Estate Association (BCREA) released its 2011 Third Quarter Housing Forecast Update today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 3.8 per cent from 74,640 units in 2010 to 77,500 units this year, increasing a further 3.6 per cent to 80,300 units in 2012.

“Slower than expected employment growth is expected to keep BC home sales below their ten-year average through 2012,” said Cameron Muir, BCREA Chief Economist. “However, weaker global economic growth and recent uncertainty in the equity markets points to continued low mortgage interest rates which will help underpin housing demand.”

“Following a decade where unit sales broke all records, consumer demand over the next few years will be relatively moderate,” added Muir. The ten-year BC MLS® residential sales average is 87,600 units. A record 106,300 MLS® residential sales were recorded in 2005.

For a PDF version of this news release, including data table, follow this link:
www.bcrea.bc.ca/news_room/2011-08-25Forecast.pdf.

If you are planning to purchase real estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and the know how to meet your needs. Contact Bill at the Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.com or just email Bill

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, the Island Road Racers and the Victoria Chamber of Commerce

Real Estate Victoria BC - Mortage Rate Update for Aug 19, 2011

2011-08-19T15:52:00.000-07:00

Weekly Mortgage Rate Update from DLC Prime Mortgage Works Inc and Properties in Victoria Professionals™.

Mortgage Rates Effective: August 19, 2011

Term	Our Best Rate	Bank Rates
6 Month Open	5.45%	6.70%
6 Month Closed	4.40%	4.40%
1 Year	2.64%	3.49%
2 Year	2.99%	3.95%
3 Year	3.39%	4.30%
4 Year	3.39%	4.44%
5 Year	3.39%	4.39%
6 Year	4.50%	6.30%
7 Year	4.69%	5.55%
9 Year	4.90%	5.61%
10 Year	4.89%	5.64%

1 Year Variable	P-.40%	Prime
3 Year Variable	P-.90%	Prime
5 Year Variable	P-.90%	Prime
Prime Rate	3.00%

*Rates subject to change without notice *

If you are planning to purchase real estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and the know how to meet your needs. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.comor just email Bill and Dave.

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty
Multiple MLS® and Royal LEpAge Award Winner!

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, the Island Road Racers and the Victoria Chamber of Commerce

Luxury Real Estate Victoria BC - Fantastic Ocean View Home!

2011-08-19T09:40:00.000-07:00

The Properties in Victoria Professional’s would like to announce a price change on our luxury water view home with over 5000 sqft of living space. Priced at $849,000 now on for $799,900

A unique & stunning 6 bed, 4 bath 5000+ sqft home, custom designed & built to the highest standard. Gorgeous panoramic mountain, water, & protected forest views enjoyed from large windows & massive decks create a space for creativity & true west coast life style. Featuring a magnificent great room of almost 800 sqft with optimal acoustics suited for a multitude of possibilities; entertaining, music, movie theatre, home business etc. The bottom floor is a spacious open-concept 2-bedroom suite of over 1400 sqft. This home features pristine maple hardwood floors, earthquake resistant foundation, HRV / air filtration system, solar panels, intercom, central vac & lovely cedar fenced yard off a private, quiet cul de sac.

For more information on this property or any other MLS listed property in the Greater Victoria area please contact Bill Ethier at the Properties in Victoria Professionals Real Estate team.

If you are planning to purchase Real Estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and the know how to meet your needs. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.com or just email Bill

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty
Numerous MLS® and Royal LePage Award Winners!

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, the Island Road Racers and the Victoria Chamber of Commerce

2010-12-29T13:04:00.000-08:00

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty,

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, the Island Road Racers and the Victoria Chamber of Commerce

BC Home Sales Decline by One Third in 2008

2009-01-18T13:28:00.000-08:00

Victoria real estate sales declined in 2008 and so did the rest of the province. British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 31 per cent to $31.3 billion in 2008, compared to 2007. Residential unit sales declined 33 per cent to 68,923 units last year, the lowest level since 2000, when 54,179 transactions were recorded. The average MLS® residential price in 2008 was $454,599, up 3.5 per cent from 2007.

“The housing market came in like a lion and went out like a lamb in 2008,” said Cameron Muir, BCREA Chief Economist. “Home prices reached a record high in March, but edged lower during the balance of the year.” The average residential sales price hit $483,291 in March and ended the year at $429,210, an 11 per cent decline in nine months.

“The global financial crisis, a sharp correction in the equity markets and a recessionary environment in Canada has wreaked havoc on consumer confidence,” added Muir. “While it’s difficult to predict when consumer confidence will strengthen, home affordability is quietly improving as lower prices and mortgage interest rates increase the buying power of BC households.”

December MLS® residential sales dollar volume in the province declined 52 per cent to $1.05 billion, compared to December 2007. Provincial MLS® sales were down 49 per cent to 2,456 units, while the average residential price declined 6 per cent to $429,210 over the same period.
For all the fine print and all the graphs turn your browser to BCREA’s website.

If you are planning to purchase real estate in 2009, just let us know. Our team of professionals has the knowledge and know how. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their two Victoria Real Estate websites www.PropertiesInVictoria.com or www.PrestigiousPropertiesInVictoria.com or just email Bill and Dave .

Cheers,
Bill

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC Real Estate Update - Prestigiuos Property for Sale in the Great Victoria Area

2008-11-03T15:59:00.000-08:00

We, the Properties in Victoria Professionals, are proud to announce another Hot Property for Sale in the Greater Victoria area.

One of Mill Spring's finest homes, this exceptional 3 level home sits high up on a .72 acre lot to take advantage of the panoramic ocean vistas highlighted by Mt Baker, Saltspring Island, Saanich Inlet & beyond. Long private driveway leads up through the lot to a huge triple garage and main level living featuring a wonderful kitchen and living room with high ceilings and massive windows to take in the views. Seperate formal dining room adjacent to main level family room too. Up are 3 well appointed bedrooms, [office on main could be 4th], & 2 ensuites, a second family room down. Lots of storage. Very private. Easy commute to either Duncan or Victoria.

For more information on this home or any other MLS 0174 listing in the GReater Victoria area please visit our webiste http://www.propertiesinvictoria.com/ or contact us directly.

Cheers,
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty
Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC REal Estate Update - Victoria Prices Up Stay Steady

2008-10-09T15:27:00.000-07:00

Victoria Real Estate Market is Strong

The number of property sales and overall prices throughout Greater Victoria real estate area remained steady in September and showed little change from August.

There was a total of 512 homes and other properties sold in September through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®). This is down minimally from the 517 sales in August of this year. Last year in September there were 632 sales. The total number of properties available for sale at the end of September was 4,754, up 41 per cent compared to September of last year.

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 about in the media everywhere. The average price of single family homes sold last month was virtually unchanged from August and the average price for town homes dropped some what, however the average price of condominiums sold increased last month in Victoria.

The average price of single family homes in the Greater Victoria real estate area last month was $549,284 compared to $549,914 in August, virtually unchanged. The six-month average was $585,643 and the median price in September was dramatically lower at $500,000.

What happened in the luxury home market? Well, last month there were 18 single family homes that sold for over the $1 million dollar mark. This includes three on the Gulf Islands.

The average sale price of all Victoria town homes 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. Now the interesting part is that the overall average price for Victoria condominiums went up at $319,562 last month 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 in the Greater Victoria Real Estate Area last month included 309 single family homes, 111 condominiums, 53 town homes and 12 manufactured homes.
Summary Report and Graphs

Victoria BC Monthly Sales Summary
Victoria BC Real Estate Average Selling Price Graphs
Victoria BC Real Estate Active Listings, New Listings and Sales Graphs

If you are buying and are looking for a specific type of property like a small condo or a prestigious ocean front estate, we have the tools to make your search easy.

Cheers,
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC Real Estate Update - Prestigiuos Property for Sale in Victoria

2008-09-12T10:22:00.000-07:00

We, the Properties in Victoria Professionals, are proud to announce another Hot Property for Sale in Victoria BC.

Enjoy all the luxuries of this bright 2 bedroom 2 bathroom South West corner suite, in the environmentally conscious Dockside Green, including: Bamboo flooring, wood cabinetry, granite & marble countertops, pot lighting & exceptional appliances. This is a lifestyle you will want to choose. Walk along the waterfront to beautiful downtown Victoria. Cafe’s, grocery store, gym’s walking & cycling trails all at your doorstep. Quality steel & concrete construction. For more information this condo click here

Harnessing the latest innovations in green building technology, the buildings at Dockside Green are targeted to exceed the level of energy-efficiency required by the Model National Energy Code by over 50%. Contributing factors include double-glazed, low-emittance windows, high-insulating walls, and external shading devices that also help maintain comfortable indoor temperatures.

For more information on this development log onto their website at http://www.docksidegreen.com/ or feel free to contact us.

Cheers,

Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC Real Estate Update

2008-09-03T19:31:00.000-07:00

Real Estate In Victoria BC - Monthly Update

Real Estate sales in the Greater Victoria area followed the expected trend and softened a bit last month as many people enjoyed vacation time with family and friends. The prices also moderated somewhat. There was a total of 517 homes and other properties sold in August through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®). Last year we had 616 sales in July and 846 sales in August.

Bill Ethier and Properties In Victoria Professionals, note that today’s buyers now have more properties from which to choose than at any time since 1996. This is great for all buyers. 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.
The 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 Real Estate Area last month was $549,914, down from over $578,000 in July. If we look at the six-month average, it was $592,582. Further the median price in August was considerably lower at $512,000. How about the more prestigious and luxuary homes? Well, 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 for townhouses in August was $382,000. The condo market last month was just about unchanged from July with an average price of $302,200. The average for the last six months was $319,825. The median price for condominiums in Victoria in August was $280,000.

Total MLS® sales last month in the greater Victoria real estate area included 269 single family homes, 160 condominiums, 53 townhomes and eight manufactured homes.

If you would like to have some more info here are some graphs that might be of interest.
Summary Report and Graphs

Victoria Real Estate Monthly Sales Summary
Victoria Real Estate Average Selling Price Graphs
Victoria Real Estate Active Listings, New Listings and Sales Graphs

What do you think the real estate market will do in the next year? Write some comments below and let us know. Further, to Stay on top of the local Victoria Real Estate Market, subscribe to our free on line News Letter. If you are looking for a specific type of property like a small condo or a prestigious ocean front estate, we have the tools to make your search easy.

Cheers,Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC Real Estate - BCREA Realeases the July Stats for the Province

2008-09-01T12:40:00.000-07:00

The BC Real Estate Association has published the latest stats for major regions of BC.

Please see below for the latest information. Is it bad? No, it looks pretty good, but will the upward trend in Victoria continue? I believe we will see more moderation in prices and if not a slight downward tend in the coming 6 months to a year. A healthy correction. This should make buyer's happy!!!

July MLS Statistics:

Multiple Listing Service® residential units sold in BC totalled 6,541 for July, a decline of 37% versus the same month last year. The dollar volume of residential sales fell to $2.9 billion, a 38% drop against July 2007. July’s average residential home price of $444,358 represented a 0.5% decline compared to the July 2007 average ($446,481), and a 4% decline versus the June 2008 average ($463,458).

Greater Vancouver: Residential units sold totalled 2,215, a 44% decline compared to the same month last year, while dollar volumes decreased 45% to $1.3 billion. The average residential home price softened to $575,256, a decrease of 1% against July of last year.

Fraser Valley: Units sold totalled 1,216, a 37% drop against the same month last year, while dollar volumes fell 35% to $526 million. The average residential home price was $432,686, a 1.7% increase over July 2007.

Chilliwack: July sales declined 41% as measured by both units and dollar volumes, with 180 units clearing for a total of $54 million. The average residential home price retreated 0.7% against July of last year, settling at $301,923.

Victoria: Units sold totalled 592, a 32% decline compared to July 2007, while dollar volumes decreased 29% to $289 million. The average residential home price climbed to $487,864, an increase of 5% against July of last year.

Vancouver Island: Units sold totalled 709, a decline of 30% versus the same month last year. Compared to July 2007, dollar volumes dropped 27% to $238 million, while the average residential home price rose 4% to $336,204.

Okanagan (including South Okanagan): The Okanagan and South Okanagan markets recorded 646 units sold in July, a 40% decrease compared to July of last year, while dollar volumes declined 37% to $260 million.

Kamloops: Units sold totalled 232, a 30% decline against the same month last year, while dollar volumes declined 20% to $74 million. However, average residential home price climbed to $321,030, a level 13.5% higher than the area’s July 2007 average price.

BC Northern: Residential sales continued to drop in July, with 450 units sold representing a 15% decline in unit sales against July 2007. Dollar volumes fell 5% to $101 million, while average residential home prices rose 12% to $223,449 against the year-ago period.

Kootenay: Residential units sold totalled 252, a 29% decline compared to the same month last year, while dollar volumes fell 19% to $78 million. The average residential home price grew to $310,493, an increase of 13% against July 2007.
Source: British Columbia Real Estate Association (BCREA)

For more information the Victoria Market please feel free to contact us or visit our website http://www.propertiesinvictoria.com/ and click on Victoria Real Estate Market Update. The latest statistics for August will be out this week and we will have them uplaoded as soon as we see them.

Cheers,Bill

Bill Ethier B.Sc - REALTOR®
Properties in Victoria Professionals- Royal LePage Coast Capital Realty
Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC Luxury Real Estate - Hot New Property for Sale!

2008-08-24T16:34:00.000-07:00

Properties in Victoria Professionals are proud present a wonderful Broadmead home!

Enjoy the peaceful setting of this fantastic home in the heart of Broadmead. Wonderful south facing deck (with electric awnings for shade), with views of the Sooke Hills to enjoy your morning coffee, reading or summer BBQs. This fabulous home rests on just over 20,000 sqft of treed and well maintained land that will impress you with its beautiful rhododendrons and tranquil landscape. A bonus is the 1000 sqft 8 foot ceiling unfinished basement with own entrance.

For more information on this property or any othe property on the Victoria MLS® system please contact us at 250-920-7000 or at info@propertesinvictoria.com or visit our website http://www.prestigiouspropertiesinvictoria.com/

Cheers,
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Victoria BC Real Estate - July Shows Little Change

2008-08-08T10:50:00.000-07:00

Sales of real estate 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. Going back a year to July of 2007 we had 922 sales.

Bill Ethier of Properties In Victoria Professionals, notes that today’s balanced market and a larger inventory of real estate 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. That represents a 34% increase compared to July of last year and inventory now stands at the highest level since May, 1998.

Bill notes that prices remain stable through out the Victoria Real Estate Area. The overall average price of single family homes and townhomes showed little movement last month. The average price of single family homes in Greater Victoria real estate area last month was $578,177; the six-month average was $596,659 though the median was lower at $529,900. On the more so prestigious side, there was eighteen single family homes sold for over $1 million, including three sales on the Gulf Islands.

Let’s look at the rest of the real estate; the average price of all townhomes sold last month was $454,918 and the six month average was $435,786. The median price for townhomes was $417,450.

The overall average price for condominiums at $302,536 moderated last month, the lowest monthly average since May, 2007. This is not uncommon for this time of year since a lot of parents are purchasing condos for their kids to attend collage and university and these condominiums seem to be on the lower end of the price scale. 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. 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.

Here are the Victoria real estate summary Report and Graphs for your convenience
Victoria BC Real Estate Monthly Sales Summary
Victoria BC Real Estate Average Selling Price Graphs
Victoria BC Real Estate Active Listings, New Listings and Sales Graphs

These documents are stored in PDF format. If your browser already has a PDF plug-in like the Adobe Acrobat® Reader, you’ll probably be able to simply click on the document you’re interested in to view it here online. You can download and install this popular, free software download here.

To Stay on top of the local Victoria Real Estate Market, subscribe to our free on line News Letter.

Cheers,Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC Real Estate - New Tools to Help Buyers Navigate Through Presales

2008-07-30T08:44:00.000-07:00

Homebuyers are Given a New Tool to Help Them With Presales of Real Estate

Buying real estate can be very stressful for many people and buying real estate that has not yet been built can be even more stressful. It also come with some risks. The disclosure statement that the developer gives you, most of the time allows the developer to do changes, and even cancel the project if they do not get enough presales. We always recommend that you have your lawyer read the disclosure statement and discuss the details with you.

This applies to all types of real estate that is presold; from a small bachelor suite to a prestigious penthouse, so talk to us or your favourite lawyer before taking the plunge.

The British Columbia Real Estate Association (BCREA), the Canadian Home Builders’ Association of BC (CHBA BC) and the Urban Development Institute (UDI) are pleased to introduce a new tool to assist homebuyers in the purchase of homes under development, also known as presales.

“Over the years, thousands of British Columbians have entered into contracts to buy new homes before the construction of their homes had begun or during the construction period,” said BCREA President Scott Veitch. “The Presale Cross Reference List helps ensure homebuyers are aware of the unique considerations involved in purchasing these properties.”

The Presale Cross Reference List is intended as a starting point for homebuyers to determine whether enquiries, advice or clarification is needed when navigating the purchase of a home in a multifamily development under construction. Buyers unfamiliar with such projects may require extensive consultation with knowledgeable professionals who have experience with presale investments.“Presales are an excellent vehicle for purchasers to buy a new home and often result in cost savings for the purchaser. However, as with any investment, consumers need to understand what the opportunities and risks are to make an informed decision,” said Maureen Enser, UDI Executive Director.

“CHBA BC is pleased to partner with BCREA and UDI and be a part of this great tool that will assist REALTORS® in disseminating reliable information about presales to consumers who purchase products that our members build,” added M.J. Whitemarsh, CHBA BC Chief Executive Officer. “This joint effort is the culmination of extensive work by industry to enhance consumer confidence and further raise the bar of professionalism within residential construction.”

For the complete article please folow this link: http://www.bcrea.bc.ca/news_room/2008-07-24Presales.pdf.

If you are thinking of buying into the presale market in Victoria or have questions in general about real estate in Victoria Bc please do not hesitate to contact us.

Cheers,Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC Real Estate - Canadian Government Changes Some lending Practices

2008-07-10T15:54:00.000-07:00

Canadian Housing and Mortgage Corp adjust long term mortgages to protect the housing market.

The Government of Canada announced yesterday adjustments to the rules for government guaranteed mortgages aimed at protecting and strengthening the Canadian housing market. The new measures include:

Fixing the maximum amortization period for new government-backed mortgages to 35 years;

Requiring a minimum down payment of five per cent for new government-backed mortgages;

Establishing a consistent minimum credit score requirement; and

Introducing new loan documentation standards.

Yesterday's announcement marks a responsible and measured approach by the Government to ensure Canada’s housing market remains strong and to reduce the risk of a U.S.-style housing bubble developing in Canada.

The new limits are planned to take effect October 15, 2008. This would allow existing mortgage pre-approvals with the common 90-day duration to be used or expire. Certain exceptions would also be permitted after October 15. The Government will work closely with all stakeholders to ensure timely and effective implementation of these measures.

As these measures relate only to new, government-backed insured mortgages, Canadians who already hold mortgages will not be affected by this announcement.

The measures announced today will build on the strength of Canada’s housing market. According to the International Monetary Fund, the increase in house prices in Canada is based on sound economic factors such as low interest rates, rising incomes and a growing population. A recent Statistics Canada report concluded that home ownership is at record levels, with over two-thirds of Canadians owning their own home.

Mortgage arrears—overdue mortgage payments—have also remained low. In recent years, the percentage of mortgages in arrears for three months or more continues to be at low levels not seen since 1990.

For more information the real estate market in Victoria BC feel free to contact us at 250-920-7000 or through our website www.PropertiesinVictoria.com

Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC Real Estate - Prestigiuos New Property

2008-06-27T15:00:00.000-07:00

We, the Properties in Victoria Professionals, are proud to anounce another Prestigious listing in Victoria BC.

Large contemporary townhome in the heart of James Bay in Victoria BC! Two bedroom, Three Bathroom measuring over 1400 sqft . This townhome has had extensive upgrades throughout including natural birch hardwood floor in the kitchen, dining, and living room. Large designer kitchen with granite countertops, stainless steel appliance package with gas range, and sound system wired throughout. Ensuite features a Jacuzzi tub and separate shower with Limestone counters, and heated tile. Attached double car garage! Steps to the water and minutes from downtown!

For more information on the the Prestigious Property in Victoria BC or anyoher listing in the Greater Victoria are please feel free to contact us at 250-920-7000 or at Properties in Victoria Professionals

Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC - Real Estate Update: Highers Costs Affecting the Real Estate Market

2008-06-23T16:27:00.000-07:00

Fuel and Food Prices Impacting Real Estate.

As gasoline prices continues to rise, driving up the costs of food and other staple products discretionary buying will slow, and we are starting to see it. Car sales are falling and now it looks like secondary/vacation homes are starting to take a hit. In Victoria BC we are seeing a definite slow down in the market, but feel with such a strong economy and a very desirable place to live the slow down will be limited. Please read the article below from Cam Muir the BC Real Estate Association chief economist.

British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 27 per cent to $3.85 billion in May, compared to May 2007. Residential unit sales fell 31 per cent to 8,101 units during the same period. The average MLS® residential price in the province reached $475,656, up 6 per cent from May 2007.

“Rising fuel and food prices are impacting the housing market, as many potential homebuyers take a wait and see approach out of concern for their household budgets,” said Cameron Muir, BCREA Chief Economist.

While BC has one of the best performing economies in the country, slower economic growth and a spate of bad news stemming from the US housing recession is also eroding consumer confidence, causing some consumers to delay major purchases.

“Despite strong demographic fundamentals, amenity markets in the province are bearing the brunt of reduced demand as second home purchases by recreation and investor buyers are more easily delayed,” added Muir. “However, higher inventory levels may soon edge lower as homes priced in relation to the accelerating conditions of the past are either pulled off the market or re-priced and sold according to today’s market realities.” For the remainder of the article please log onto http://www.bcrea.bc.ca/news_room/2008-05.pdf

Please contact us if you would like more information on the market here in Victoria BC and visit our website and log onto Victoria Market update to stay informed on current trends.

Cheers

Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Greater Victoria Real Estate - Buyers Have More Real Estate Options

2008-06-06T12:38:00.000-07:00

Great Victoria Area has more Choices for Buyers of Real Estate

With a return to a balanced real estate market, home buyers in the Victoria area now have a much larger pool of properties from which to choose. The number of properties available for sale increased to 4,332 in May - a 25 % increase over the same month a year ago and the highest level since June 1998.

Victoria Real Estate Board President, notes that despite this increase, prices and sales remain stable although the number of sales is down compared to a year ago. "There was a total of 770 sales of homes and other properties in May through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), virtually unchanged from the 768 sales in April but down from the 963 sales in May of last year." The board noted that a significant number of new properties came on the market last month: "There were 1,850 new listings in May - the highest number for a single month in over 18-years". The board added that 24 sales over $1 million had an impact on the overall average price of single family homes in Greater Victoria which last month was $601,897; the six-month average was $606,985 though median was considerably lower at $545,000. There were also three sales on the Gulf Islands of over $1 million.

The average price of all condominiums sold in May was $336,157; the average for the last six months was $333,208. The median was again lower at $295,500. The average price of all townhomes sold last month was $435,058; the six month average was $433,854. The median price was $394,900.

MLS® sales last month included 470 single family homes, 168 condominiums, 71 townhomes and 25 manufactured homes.

Summary Report and Graphs
Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

For more information on the real estate here in Victoria please feel free to contact the Properties in Victoria Professionals team
Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC - Real Estate: Billion Dollar Colwood Development Receives City Approval to Move Forward

2008-05-28T11:44:00.000-07:00

There is some feeling out there with regards to a downturn in new construction; however, you may want to rethink that position if you are holding this position. The city of Colwood about 15 minutes from Victoria has given approval for a billion dollar development. For further information please read the article below from Tartan Publications.

Victoria, British Columbia - The City of Colwood has given fourth and final reading of a bylaw which will permit City Centre Colwood, the $1-billion development on 13 acres on the West Shore of Vancouver Island, to proceed. The project when completed will include over 3.5 million square feet of commercial, residential and amenity space and will give the region a new city centre.

"City Centre Colwood will be a contemporary work and live place on a scale never before achieved in the Greater Victoria area," said developer Les Bjola of Turner Lane Development Corporation. "It will have a significant impact on economic growth in the region, attracting new companies and residents from across our country and others. We plan to achieve the highest standards in social, economic and environmental sustainability in this progressive new community."

When completed, the development will include new office and residential buildings, a shopping, dining and entertainment district, and substantial underground parking. The on-site work/live population will have easy access to public transportation, pedestrian ways and major highways.
"Our goal is to create a modern, urban centre which will meet the needs of the community and the growing interest in the West Shore - something of which we can all be proud," said Les Bjola. "We already know people want the type of lifestyle Island-living provides, and attracting new companies will bring the employment opportunities which will allow people to live, work and play here."

The development will include a mix of low and high-rise buildings, which will be built in phases with construction expected to start early next year.

"We are experiencing a great deal of interest in this project from British Columbia and beyond," said Adam Gant, CEO of League Assets, the company managing the financing for the development. "The vision for this project is spectacular and investors are recognizing long-term benefit of doing something different in this community."

Over the past 18 months, Bjola and his project team have undertaken an intensive public consultation process to gather input from community members and stakeholders that included surveys, open houses and public meetings. The culmination of this process was the final approval of the bylaw by the City of Colwood council last night.

For more information on real estate in the Great Victoria area please do not hesitate to contact us
CheersBill

Bill EthierB.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Exlusive Luxury Real Estate Victoria BC

2008-05-26T10:01:00.000-07:00

We, at the Properties in Victoria Professionals team our proud to bring you another fabulous property!

Exlusively for you! It is almost upon us, Victoria's most prestigious downtown residence - the ARIA. Located on the fringes of the heart of the city. This south facing home is a magnificent 2 bedroom 2 bathroom unit with over 1200sqft of living. No other residence will be as convenient to the pulse of the city center, situated mere steps away from museums, shopping, fine dining, parks and Victoria's picturesque inner harbour. Special attention has been paid to every detail. GST not included. This is an Assignment of a Contract.

For more information on the property or any other real estate in Victoria BC please do not hesitate to contact us

Cheers
Bill

Bill EthierB.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Victoria BC - Hot New Real Estate

2008-05-08T15:57:00.000-07:00

We the Properties in Victoria team are proud to announce another prestigious condo for sale in the heart of the city. This superb 2 bedroom 2 bathroom condo is located in the Prestigious Belvedere. For more infromation see below:

Upscale condo at The Belvedere! Downtown living at its best! No other building compares. Developed by Concert Properties, Georgie Awards® 2007 Finalists for Best Multi-Family Development (High- Rise). Finest standards of construction. High ceilings, granite counter tops, teak floors, maple shaker cabinetry, stainless appliances. Corner suite with views of the water and Sooke Hills. Floor plans available
Show All Available Photos

If you would like more information on this property, such as virtual tours or floor plans please visit our webiste www.PropertiesinVictoria.com or any other property in the Greater Victoria area please dot hesitate to contact us.

Cheers

Bill

Bill EthierB.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Victoria BC - Victoria Real Estate Sets Another Record

2008-05-04T12:23:00.000-07:00

The Greater Victoria set another record price for Single Family Homes. The average price has now surpassed the $630,000 dollar mark. Where is going to go from here? Please read the article below from the Victoria Real Estate Board:

Sales of homes and other properties in the Victoria area moderated in April with a total of 768 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up from 707 sales in March but down from the 898 sales in the same month a year ago. Overall prices remain steady but 28 sales of over $1 million, including two sales in Oak Bay of over $2 million, pushed the average price of single family homes to a new record high.

Victoria Real Estate Board President, Tony Joe, notes that the number of properties available for sale continues to increase. "In April, there were 3,859 properties available for sale - a 17 per cent increase over the 3,305 properties on the market in April of 2007. This increase in inventory coupled with a moderation in the number of sales offers further indication of a more balanced market that offers stability for both buyers and sellers."

Joe added that despite the record high average price for single family homes, overall prices remained steady last month. "The relatively large number of high-priced sales had a substantial impact on the average price of single family homes in Greater Victoria, pushing this figure to a new record high of $630,295 but it is important to note that the median or mid-range price was substantially lower at $558,000." Joe noted that nearly 28% of single family homes last month sold for under $475,000.

The average price of all condominiums sold in April was $325,975; the average for the last six months was $328,915. The median was again lower at $294,900. The average price of all townhomes sold last month was $420,658; the six month average was $440,364. The median price was $407,450.

MLS® sales last month included 395 single family homes, 235 condominiums, 80 townhomes and 20 manufactured homes.

Summary Report and Graphs
Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

If you have any questions about the market or would like to discuss the buying and or selling process feel free to conact us. We would love to help. Also for more Real Estate news visit our website: www.PropertiesinVictoria.com and log onto Quarterly Report or Victoria Market Update

CheersBill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC Real Estate First Quarter update - Housing Market to Remain Strong

2008-04-20T12:57:00.000-07:00

The Victoria Real Estate market has been very busy for us over the last few weeks. We have many new listings coming to the market and there are some good deals to be had out there.

British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC dipped 1.8 per cent to $8.9 billion during the first quarter, compared to the same period in 2007. Residential unit sales declined 13.5 per cent to 18,635 units during the same period. The average MLS® residential price in the province reached $478,423, up 13.5 per cent from the first quarter of 2007.
“The housing market lost some steam during the first quarter,” said Cameron Muir, BCREA Chief Economist. “Eroding affordability has squeezed some potential buyers out of the market, while uncertainty about the duration and impact of a weak US economy and housing recession likely has some consumers sitting on the sidelines.”
“Despite weakness in the forest sector, economic fundamentals in the province remain strong and continue to underpin housing demand,” added Muir. “A 25 per cent increase in the number of homes for sale is providing home buyers with more selection and reducing the chances of competing bids on the same property.”
March MLS® residential sales volume fell 12.4 per cent to $3.48 billion compared to March 2007. Residential unit sales declined 22 per cent to 7,128 units in March, while the average MLS® residential price increased 12.3 per cent to $488,796 compared to March 2007.

For more information on the Victoria real estate market please feel free to contact us

Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria Real Estate - More Properties for Sale in Victoria BC

2008-04-10T16:11:00.000-07:00

Real estate buyers in the Victoria area have a growing number of properties from which to choose. The total number of properties available for sale rose to 3,591 in March - a 17 per cent increase over March of last year. Victoria Real Estate Board President, Tony Joe, says the return to a balanced market is good news for both buyers and sellers. "With more properties available for sale, buyers now have a greater choice, but the continued demand for homes and steady prices mean sellers can anticipate strong interest in properties that are realistically priced." There were 707 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in March, down from the 833 sales in the same month a year ago but up 14 per cent from the 619 sales in February.

Joe added that prices remained steady last month, "Twenty-eight per cent of single family homes sold for under $450,000 while nearly 36 per cent of condominiums sold for under $275,000." At the higher end of the market, Joe noted that there were 20 sales in Greater Victoria and two sales on the Gulf Islands of over $1 million.

The average price of single family homes sold in March in Greater Victoria was $597,176; the median price was lower at $529,625. The six-month average for single family homes was $591,439. The average price of all condominiums sold in March was $328,734; the average for the last six months was $332,552. The median was again lower at $300,000. The average price of all townhomes sold last month was $458,378; the six month average was $437,523. The median price was $411,500.

MLS® sales last month included 407 single family homes, 170 condominiums, 68 townhomes and 16 manufactured homes.

For more information on these statistics feel free to contact us of visit www.PropertiesinVictoria.com and click on Victoria Real Estate Market Update.

Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

BC Housing Sales Decline in February

2008-03-19T14:37:00.000-07:00

British Columbia home sales fell in February for the second consecutive month. Is it a trend? It is hard to say this early into the year: however, there is a general slow down in the market.

Does this mean price reduction? I do not think so. It means that houses are taking a little longer to sell, more possibilities for buyers to chose from unlike a few years ago when there were more buyers then sellers. We are heading toward a more balance market, and I feel a more stable market. Not everything goes up for ever. You may be asking yourself if this mean that we will see a sell-off like the US. This I do not see as the fundamentals in Canada are sound and the economy, particularly in BC is very strong. This in conjunction with lowering interest rates in Canada will help to maintain a healthy market for 2008.

For more information on the recent sales in BC please read the article below from the British Columbia Real Estate Association.

Vancouver, BC – March 17, 2008. British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC rose 4.5 per cent to $3.26 billion in February, compared to the same month in 2007. Residential unit sales dipped 9.8 per cent to 6,822 units during the same period. The average MLS® residential price in the province reached $478,172 in January, up 15.8 per cent from February 2007.

“BC home sales fell for the second consecutive month, marking the slowest start to a year since 2003,” said Cameron Muir, BCREA Chief Economist. “While it’s still too early to call a trend, fewer home sales and an increase in active listings may be pulling the BC housing market toward balanced conditions.”

“Strong employment and wage gains over the last year continue to underpin housing demand,” said Muir. The number of unit sales recorded in the month was 13 per cent above the February average from 1998 to 2007. “However, continued erosion in housing affordability may be taking a toll on the ability-to-pay for some buyers.”

Additionally, a weak US economy and lower demand for BC lumber is negatively impacting BC’s forestry industries and local resource communities, while current economic volatility may also be impacting the confidence for some would-be buyers.

For more information, please contact:
Cameron MuirChief EconomistDirect: 604.742.2780Mobile: 778.229.1884Email: cmuir@bcrea.bc.ca

For more information on the market in Victoria feel free to contact us or long onto our website and click on the Victoria Real Estate Market Update.

Cheers
Bill

Bill Ethier B.Sc - REALTOR®Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria Real Estate - Housing Starts Surprise

2008-03-10T21:28:00.000-07:00

The latest housing starts were released last week and show a surprisingly strong performance that surprised more then a few. This along with the strong employment numbers that were released for February show a fairly resiliant Canadian economy.

On the surface it looks like Canada and the US are going in two different directions. The US heading down on poor economic numbers caused by the credit crunch, low consumer demand and some may say an unpopular war. Canada on the other hand, with the crippling high dollar taking its toll on the manfacture centre in central Canada is still adding more jobs to the work force, a fairly positive feeling from consumers, and strong demand for real estate. Will it last? That is the big question. Many say it can't maintain the pace without its largest trading partner buying up our commodities other than oil. Maybe Canada is just behind on the curve and all the gloom and doom that is out there will finally coming knocking on its door.

Our economy is definately on slow down and that may good. Allow a breather, but not a gasp before it ticks up again. I feel this may good for house prices in the long run. The slow down in rising prices may give a chance for real wages to catch up and that accompanied with low interest rates now and into the immediate future will definately keep the real estate market in Victoria ticking along as well as its economy. This will make it a more balanced market.

For more information on the latest housing starts feel free to contact us or read the latest article from the Globe and Mail by following this link

If you are looking for some hardworking and dedicated Real Estate Agents in Victoria BC, who put you first please do not hesitate to contact us.

Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria Real Estate - Average House Prices Drop

2008-03-04T09:56:00.000-08:00

The latest stats from the Victoria Real Estate Board have just been released and they point to a drop in the average house price from January ’s $606, 449. Does this mean we are on a down ward trend? Maybe the average price has dropped, but this is definitely not the best statistical measurement for house prices because of the skewing by some very expensive homes that can greatly affect the average price. The best indicator statistically is the median price - the middle number if you will, and this number has gone up from January’s 530,200. Maybe the very expensive homes are not selling as fast but the median price homes in Victoria are very hot right now. For more on last months statistics please see below.

The number of sales of homes and other properties in the Greater Victoria area moderated in February. There were 619 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in February, down from the 707 sales in the same month a year ago. There were 464 sales in January.

Victoria Real Estate Board President, Tony Joe, says the market continues to be well-balanced with strong demand for homes that are realistically priced coupled with a growing selection of available properties for sale. “The total number of properties available for sale rose to 3,311 in February - a 13 per cent increase over February of last year,” noted Joe.

Last month over 27 per cent of single family homes sold for under $450,000 while nearly 37 per cent of condominiums sold for under $275,000. At the higher end of the market, Joe noted that there were nine sales in Greater Victoria and one sale on the Gulf Islands of over $1 million.

The average price of single family homes sold in February in Greater Victoria was $587,295; the median price was $543,500. The six-month average for single family homes was $588,826. The average price of all condominiums sold in February was $333,408; the average for the last six months was $334,577. The median was again lower at $299,450. The average price of all townhomes sold last month was $422,607; the six month average was $426,685. The median price was $395,000.

MLS® sales last month included 316 single family homes, 177 condominiums, 73 townhomes and 13 manufactured homes.

If you have any questions or would like more information on these statistics please visit our website or the Victoria Real Estate Boards site for the latest stats and all the historical as well.

Cheers

Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals- Royal LePage Coast Capital Realty
Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Winter Recreational Property Prices Remain Red Hot During Canada’s Coldest Months

2008-02-26T15:18:00.000-08:00

Canadians are committed to their winter retreats despite rising prices!

While sunshine states such as Florida and Arizona have long enticed Canadians to purchase their winter retreats in warmer-weathered American cities, the uncertainty clouding the U.S. housing market has many Canadians favouring properties north of the border. In fact, 36 per cent of Canadians who own a winter recreational property or who are considering purchasing one cite they are more inclined to buy a property in Canada than in the U.S. because of the economic uncertainty plaguing our southern neighbours, according to the 2008 Royal LePage Winter Recreational Property Report released today.

The 2008 Royal LePage Winter Recreational Property Report comprises a nationwide research poll of Canadians’ attitudes on the market (conducted by Angus Reid) and an analysis of recreational property prices, trends and activity in selected winter leisure markets across the country.

Sky’s the limit when it comes to buying mountainside For those looking to enjoy their own winter wonderland, Quebec, Ontario, Alberta and British Columbia offer the greatest selection of recreational areas, with real estate prices increasing from east to west. Strong demand combined with limited mountain-based properties has prices ranging from $180,000 to $850,000 in Quebec, $400,000 to $1 million in Collingwood, and $450,000 to $2 million in British Columbia for a standard detached, mountainside, three-bedroom chalet. A shortage of listings in areas of high demand, such as Whistler and Fernie, has led to property prices appreciating by as much as 10 and six per cent, respectively, in the past year.

“High levels of demand combined with limited inventory have pressured winter recreational property prices upward – a trend expected to continue well into the future,” said Lisa da Rocha, vice president, marketing communications, Royal LePage Real Estate Services. “Local buyers and foreign investors alike are taking advantage of Canada’s iconic snowy winters, and realizing winter recreational properties are a sound long-term investment.”

While snowfall levels in North America have decreased over the past few decades; when asked, “Are you less likely to purchase a winter recreational property if a reduced level of snowfall continues?” 66 per cent of Canadians who own a recreational property or are considering purchasing one are clearly committed to the cold climate and answered that regardless of snow, a winter recreational property would still be their winter retreat.

Not so little cabin in the woodsWhile everyone’s idea of a winter retreat may differ, there are a variety of property types available across Canada from rustic chalets to grand lodges to maintenance-free condominiums to satisfy every need. Canadians list their top three features as a traditional chalet structure with a rustic charm, extra rooms for guests and grand fireplaces.
Buyers in areas including Whistler, Vernon and Big White, are demanding luxury properties with features including granite countertops, heated floors and stainless steel appliances.

TOP SEVEN WINTER RECREATIONAL PROPERTY FEATURES*

Rank

1) Winter Recreational Property Features
2) Traditional Structure with Rustic Charm
3) Extra Bedrooms for Guests
4) Grand Fireplaces A Large, Open Great Room
5) Outdoor Hot Tub
6) Office with Internet Access
7) Professional Kitchen

*Among Canadians who own or are in market to buy

Added da Rocha: “Now more than ever, Canadians are placing greater emphasis on their living spaces. We are seeing huge demand for chalets to be outfitted with the highest grade of granite and marble, exotic wood flooring and other high-end features. Real estate is as much about style and comfort as it is bricks and mortar.”

Additional report findings:
More than four-in-ten (43%) respondents find the idea of owning a condo over a chalet attractive. Canadians aged 55 + (46%) find condos more appealing than standard chalets compared to those 35-54 years (38%), presumably for their maintenance-free lifestyle. However, in some markets such as Collingwood, there is an increased pressure on detached residences, versus the traditionally popular condominium.

Eight per cent of Canadians own a winter recreational property or are considering purchasing one in the next three to five years, with residents of British Columbia representing the largest purchaser population (13%) and Atlantic residents making up the smallest (4%). Quebec and Ontario residents comprise nine per cent and seven per cent of winter recreational owners and future buyers, respectively.

Winter recreational markets including Mont Tremblant, Canmore, Whistler and Fernie are increasingly attracting European buyers.

Poll Methodology
Angus Reid Strategies conducted the survey portion of the Royal LePage Winter Recreational Property Report from January 24-25, 2008. The poll was conducted on-line with a randomly-selected, representative sample of 1,455 Canadians survey respondents aged 18 year and older. The results have a maximum margin of error +/- 3.1% 19 times out of 20. The results among Canadians who own, or are considering a purchase of, a winter recreational property are based on a representative sub-sample of 130 respondents, with an associated margin of error of +/-8.6%, 19 times out of 20. The results have been statistically weighted according to Statistics Canada’s most current age, gender and region Census data.

About Royal LePageRoyal LePage is Canada’s leading provider of franchise services to residential real estate brokerages, with a network of over 13,000 agents and sales representatives in 600 locations across Canada operating under the Royal LePage, Johnston and Daniel, and Realty World brand names. Brookfield Real Estate Services Fund, a TSX listed income trust, trading under the symbol “BRE.UN”, manages Royal LePage.

For more information real estate in Victoria BC please feel free to contact us at http://www.propertiesinvictoria.com/

CheersBill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Real Estate Prices Skyrocket in Victoria BC!

2008-02-25T20:28:00.000-08:00

Why invest in Real Estate in Victoria, BC? Why invest in Real Estate in British Columbia or any other province? The answer is simple, it is one of the best investment you can make.

First of all if you purchase a property as your principal residence you provide shelter for you and your family. If you have life insurance on your mortgage and if something did happen to you, your family has a home that is paid off. When you go to sell your principal residence, and say you have made a $300,000 profit, this money/profit is tax free. This is a great thing particularily with todays advancing house prices in Victoria
.
If you look back at how the Real Estate prices have increased since 1978 it is pretty incredible, for your convenience we also have it in a graph format thanks to Victoria Real Estate Board.

A recent article in the Times Colonist by Carla Wilson looks at Real Estate prices over the last decade. It reads:

Real estate prices skyrocket, returns rise over past decade

The last decade in Greater Victoria’s real estate market delivered an average 7.8 per cent annual compounded rate of return, said a report from real estate company Re/Max.

Across Canada, the rate was lower at 7.1 per cent, but showed average home prices nearly doubled from $154,606 in 1997 to $307,265 last year. The total number of sales also rose, topping 500,000 in 2007 compared with 331,092 in 1997.

Last month, the average selling price of a house in Greater Victoria was $606,449, with a median price of $530,200. The Multiple Listing Service shows seven properties listed at more than $14.5 million

B.C. prices rose most significantly in the past five years, Elton Ash, executive regional vice-president of Re/Max in western Canada, said yesterday. He anticipates a more balanced market in 2008, resulting in an average increase of about seven per cent.

“Immigration and in-migration have played a serious role in jump-starting residential housing markets, particularly in B.C., Alberta and, to some extent, Saskatchewan over the past decade,” Ash said. Economic strength, low interest rates, low unemployment and consumer confidence have all driven sales.

As prices went up, “There has been huge movement by investors to buy condominiums either to hold for the short term or long term,” he said. The average selling price of a Greater Victoria condominium last month was $349,045, with a median price of $326,904.

Dunnery Best, managing director, portfolio manager and investment adviser with CIBC Wood Gundy in Victoria, recommends taking into account expenses such as taxes, insurance, maintenance and improvements when looking at property value increases.

“If the average goes up by 7.8 per cent, the fact is in many cases you are not netting that.”
Although homes are an important part of many people’s investment portfolios, they should remember that, despite strength in local real estate, markets can also go the other direction for a sustained period, he said. Also, a property may be difficult to sell or not bring in an expected price.

In addition, “the environment of declining interest rates is over,” Best said. He warned that extrapolating from the past decade to the next decade is “faulty logic.”

Although Tony Joe, Victoria Real Estate Board president, would have preferred a bigger move, he said the province’s decision, announced this week, to increase the property purchase tax exemption to $425,000 from $375,000 helps make homes more affordable. It may allow qualifying buyers to spend money on improvements or needed items for their home.

First-time homebuyers in B.C. are choosing condominiums at close to double the rate of buyers elsewhere in Canada, said a report released yesterday by Genworth Financial.

An average of 14 per cent of British Columbians surveyed said they had either bought a condo or were planning to do so.

“The condo markets in Vancouver and Victoria remain vibrant — both cities are estimated to have posted record-high starts volumes in 2007. Condos are filling the need for relatively affordable housing in the province where available land for new home construction is limited …,” said Genworth president Peter Vukanovich. First-time condo buyers in B.C. can expect to pay the highest rate in the country, the report said.

In Greater Victoria, condominium prices range widely, from about $55,000 for fractional ownership typically of vacation units, to more than $1 million for luxury homes.
When it comes to buying condos, out-of-town buyers often prefer the downtown or Songhees near the harbour, while local residents are likely to buy in buildings such as the Strathmore in Langford, said Re/Max Camosun real estate agent Guy Crozier. “We find that our buyers tend to be more local young people getting into the market,” he said.

Remaining units in the Strathmore include a loft for under $300,000. Some buyers are downsizing from larger homes and want features such as granite countertops and hardwood floors, Crozier said.

End of article. Carla Wilson can be reached at cjwilson@tc.canwest.com

If you have any comments on the above or Real Estate questions please drop us a note.

Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Prestigious Real Estate in Victoria BC - Luxury New Listing

2008-02-14T13:07:00.000-08:00

The Properties in Victoria Team are proud to announce another hot new prestigious listing in Victoria BC. This gem is located on the very desirable Olive street in South Fairfiled - one of the most desirable areas to live in Victoria. It is within blocks to the Ocean and minutes to all your amenaties. This prestigious house has a west facing private backyard and patio. Professionally landscaped. Interior ready for your casual lifestyle with kitchen renovations featured on the 2006 Young Life's Home Tour with granite counter tops, stainless steel appliances, Gessi Quadro High Tech faucet, Sirius range hood and so much more - new carpet, paint. Flexible spaces 3-4 bedrooms, 2 bathrooms, studio/gym & more.

If you are interested in more information on this property or other luxury listings in the Greater Victoria area please do not hesitate to contact us or log onto our website.

If luxury is not what you are looking for we also have numerous other properties on our website as well as we have access to all the MLS® listings in the Greater Victoria area.

Cheers

Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Real Estate in Victoria BC - Vancouver is in the news

2008-02-10T13:09:00.001-08:00

Our good friend and exceptional REALTOR® Matt Collinge is at it again. He has posted the latest stats for the Vancouver Real Estate Market. Vancouver, being Victoria's bigger brother, is always a great indicator as to how healthy the Canadian West coast market is and will be.

So with out further delay here is what Matt has to say about his market.

Vancouver BC Real Estate: Housing Starts Up In January

Well its Friday and Fridays are for fun and Vancouver housing starts aren't very fun, but CMHC just released the January housing starts numbers so here we are. Housing starts must for fun for someone. The numbers are good with housing starts for last month in Vancouver keeping pace with January last year. Detached (CMHC calls them "single family homes", seems logical, if not necessary logical in Vancouver) home starts were down slightly, but this was nicely off-set by a slight increase in what CMHC calls multiple unit (condo and townhouse) starts.

There are some nice tables and graphs in the CMHC report but it is a secured pdf so I can't copy them into the post here, but I will attach it below and you can have a look.

My regular fun Friday post is coming up next. Be ready.....
Matthew Collinge: 604homes.com - Royal LePage Westside

If you are interested in more information on the Vancouver market give Matt a call or if Victoria is where you would like to be drop us a line or an e-mail.

CheersBill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria Real Estate: 19 Prestigious Sales of over $1 million

2008-02-03T18:24:00.000-08:00

There were 19 sales of over $1 million that had an upward impact on the average price of single family homes in Victoria BC. This is becoming more and more common and we are showing homes over a million more and more often. The Luxury Real Estate Market is in demand.

These higher priced homes got Victoria Real Estate off to a solid start in the first month of 2008 pushing the average price to $606,449. There were 464 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in January, up from the 442 sales in the same month a year ago. There were 408 sales in December. Meantime, the total number of properties available for sale rose to 3,027. This is a 14 per cent increase over January of last year (2007).

The Victoria Real Estate market remains very healthy and the strong sales and increase in inventory represent good news for both sellers and buyers. There is a strong demand for homes that are realistically priced and the increase in the number of properties available for sale means more choice for buyers. It should be noted that nearly 29 per cent of single family homes sold for less than $450,000 last month while nearly 37 per cent of all condominiums sold for under $275,000 in January.

The average price of all condominiums sold in January was $349,045, and the six month average was $326,904. The median was of course again lower at $304,450. The average price of all townhomes was $423,774, with a six month average of $419,926 and a median price of $392,950. Total MLS® sales last month in the Greater Victoria Real Estate Boundary included 249 single family homes, 125 condominiums, 43 town-homes and 16 manufactured homes.
Summary Report and Graphs

Monthly Sales Summary

Average Selling Price Graphs

Active Listings, New Listings and Sales Graphs

These documents are stored in PDF format for your convenience. If your browser already has a PDF plug-in like the Adobe Acrobat® Reader, you’ll probably be able to simply click on the document you’re interested in to view it here online. You can download and install this popular, free software by clicking the link below.

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If you have any comments on the above please drop a note below. Further feel free to contact us any time.

CheersBill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Five Important Immigration Questions to Consider when Moving To Victoria BC Canada

2008-01-31T13:09:00.000-08:00

Victoria is one of the most beautiful places in the world, with is temparate climate. mid range to luxury ocean front accomodations and its plethora of outdoor activities year round. It has all the possibilities of Vancouver, but at a smaller scale and with less rain. For these reasons as well as its relatively low real estate prices (locals may disagree) compared to other desirable places in the world people are emmigrating here from Europe, Asia and the US. With this influx of foriegn ownership there are many questions that a foreign national to Victoria may ask with regards to immigration, residency and ownership of property. Below is a newsletter put out by a local immigration laywer David Aujla discussing the Five Important Questions that foreign nationals ask.

FIVE IMPORTANT QUESTIONS

Over my years of practice, I have noted that there are five questions that foreign nationals usually ask prior to applying for immigration. Here are the questions and the answers:

1. Will buying a house or a business help my immigration to Canada?

Buying a house does not increase chances of entry, but nor does it hurt. The purchase of a home certainly shows a connection to Canada and the home is ultimately treated as a part of the overall net worth of the individual, but simply owning a house and living here as a visitor will not affect the selection process.

Buying a business, however, could result in a faster entry into Canada based on a temporary work permit. CAUTION! Buying a business must be part of a comprehensive immigration strategy. The purchase must be strategized with other qualifying factors, such as overall asset base, the projected performance of the business and previous business experience. These important aspects are examined and must be approved by the provincial government and/or the federal immigration department before any business is purchased. It is best to seek professional taxation and legal advice prior to purchasing a home or business.

2. As a foreigner can I get a mortgage?

The answer is yes. The requirements for obtaining a mortgage to finance a purchase, whether a home or a business will depend on the institution with which the foreign national will do business. Generally speaking, there is usually not a problem in securing mortgages with more-established financial institutions. These institutions will usually require a letter of introduction from the previous banking facility with which the foreigner has done business in his or her own home country. Previous income in the home country will also be verified. Also, institutions may require a greater percentage of the purchase price as a down payment.

3. How long can I stay in Canada? (Can't I just go out for a day and come back?)

Generally, a person is allowed a six month entry as a visitor. If a second home is purchased, one can bring in a reasonable amount of furniture as a "seasonal resident" without paying any duty. There is no corresponding regulation in the immigration act (IRPA) that states the person has to leave for six months before returning, so multiple entries can be allowed. CAUTION! You cannot "flagpole" continuously. Flagpoling means leaving Canada for a few days and then returning to Canada. Although such re-entry may be allowed on one or two occasions, the person does run a risk of being refused entry into Canada because he or she is living in Canada as a resident under the guise of being a visitor. The foreign national must maintain substantial roots with his or her home country. See the following website: http://www.victorialaw.com/details/articles/Flagpoling.pdf.

4. If I rent out my home, what are the tax implications?

Occasionally, foreign nationals will purchase a home, reside in it for a few months of the year and rent it out for the balance. NOTE: Special tax rules do apply to such situations and Canadian tax returns must be filed by the foreigner. In fact, if the taxation payments are not set up properly, the foreign landlord will be required to pay 25% of the net rental income per month to the tax department as a holdback until the tax returns are filed. However, such a drastic reduction of rent can be avoided if a Canadian resident is appointed on behalf of the foreign national to make the filings at the end of the year. CAUTION! When selling a residence, a foreign national must file a clearance certificate well in advance of the sale or there can be up to a twenty five percent holdback of the full selling price until the clearance certificate is obtained from the tax department.

5. Can I retire in Canada?

There is no retirement category under the immigration regulations. Such an avenue did once exist, but the retirement avenue of immigration was phased out in the late 1980s.

If an individual is buying a home with the view of ultimately retiring here, it is important to seek legal immigration advice immediately. Qualifying for immigration is time sensitive in that points are awarded based on the number of years of experience in both business and in work as well as the age factor. It is important that as soon as individuals are considering purchasing a home here in Canada that they seek immediate immigration legal advice to ensure that a proper strategy exists for the potential permanent entry in the future. There are also health and age-related questions which may impact the admissibility.
See the following website: http://www.victorialaw.com/details/articles/retirees.php

DAVID AUJLA
Canadian Immigration Lawyer
www.victorialaw.com

If you are planning on making a move here either from within Canada or from outside its borders please contact the Properties In Victoria Professionals team. We will not only help and educate you on the market her in Victoria, but we also have connections such as David Ajula who can help you with other professional matters

Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Dockside Green in Victoria, BC, in Wired Magazine's global race for first carbon-neutral community

2008-01-30T17:36:00.000-08:00

Green, Green is on everyone minds. Twenty years ago it was three minutes to midnight and all the talk about the nuclear holicost and the end civilizations as we know it. Fast forward to today and all the talk (except in the last few weeks about the US recession) is how global warming, or as a good friend of mine says, global climate change, is the end of civilation as we know it. Not only is it on the minds of polititions, okay only some, it is also on the minds of our teck savy friends. Before it was will Deep Blue be the best chess player in the world to tech companies like Google trying to decrease the size of its carbon foot print with search engines like Blackle, and Wired magazine reporting on a real estate development in Victoria BC called Dockside Green, and its state of the art enviro-friendly development.

For further information on this cutting edge environmental mixed residential real estate development in Victoria BC see the latest media release from Tartan Public Relations below.

According to Wired Magazine, the race for the first carbon-neutral, zero-emissions community is on, and Dockside Green in Victoria, BC is in the running.

Wired lists Dockside Green as one of the Top Ten greenest neighbourhoods
- 'ecotopias' - in the world, according to the latest issue of the magazine.

Dockside Green is a mixed-use residential development in Victoria's inner harbour which has aimed to set the standard for green residential developments in North America and around the world.

"Eco-topias aren't just for hippies anymore and they're sprouting up worldwide. Today's eco-communities are less crunchy and a lot more high tech. In addition to using renewable energy sources, these projects aim to limit their impact on surrounding ecosystems by building with green materials, promoting earth-friendly transportation, and recycling water and waste," notes Wired's web site at wired.com.

"The 1,000 units in this $600 million development will be built with wood from forests that were submerged by reservoirs. Dockside Green will promote bicycle use and offer a carshare program..." according to the web site.

Other communities in the Wired race are in Abu Dhabi, United Arab Emirates; Cambridge, England; San Francisco, California; Freiburg, Germany; Vaxjo, Sweden; Chongming Island, China; Liuzhou, China; Costa Rica; and Libya.

Wired is the foremost technology magazine in North America with a
monthly circulation of more than 700,000.

For a link to the article, please visit:
http://www.wired.com/science/planetearth/magazine/16-02/st_infoporn

About Dockside Green:
Dockside Green is the largest development of city land in Victoria's history, with a vision to create a socially vibrant, ecologically restorative, economically sound and just community. Leading the way in North America - all buildings within the Dockside Green community are being built to platinum LEED (Leadership in Environmental and Energy
Design) standards, the highest level in this rating system.

Once complete, Dockside Green will be a community for approximately 2,500 people incorporating the very highest in green standards and will include residential, live/work, hotel, retail, office, light industrial uses and numerous public amenities on Victoria's downtown harbour. The first residents will take occupancy at Dockside Green in March 2008.

Media contacts:

Tartan Public Relations
Office: 250-592-3838

Trisha Lees, cell: 250-896-3838, trisha@tartanpr.com

Melinda Jolley, cell: 250-881-6270, melinda@tartanpr.com

For more information on the Dockside Green Development please contact Properties in Victoria Professionals. Yoour Victoria BC real estate team.

Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Ecologically Friendly, Economically Smart – Green is the New Gold Standard for Outfitting a Home

2008-01-28T10:51:00.000-08:00

Royal LePage Eco Home Survey finds 88 per cent of Canadians want green qualities in their home

In Victoria BC we are seeing the green development at its forefront with the anticipation of Dockside Green and its LEED standard, along with numerus other developments incorporating and enviroment frielndly code.

The Leadership in Energy and Environmental Design (LEED) Green Building Rating System, developed by the U.S. Green Building Council, provides a suite of standards for environmentally sustainable construction. Since its inception in 1998, LEED has grown to encompass over 14,000 projects in 50 US States and 30 countries covering 1.062 billion square feet (99 km²) of development area.[2] The hallmark of LEED is that it is an open and transparent process where the technical criteria proposed by the LEED committees are publicly reviewed for approval by the more than 10,000 membership organizations that currently constitute the USGBC.

Green friendly home improvements will likely yield a solid return on investment come selling time as almost three quarters of Canadians (72%) say they will look for a green-improved property in their next home purchase, and 63 per cent will be willing to pay more for an environmentally friendly home, according to the Royal LePage Eco Home Survey released today.

The Royal LePage Eco Home Survey, which examines the attitudes and opinions of Canadians with respect to green living, found that Canadians are willing to pony up cash for greener home features. In fact, of the majority of Canadians who are willing to pay more for an eco home, 62 per cent are willing to pay between $5,000 and under $20,000, for green features, while eight per cent (8%) of respondents are willing to spend $20,000 or more on a home deemed green.

“The mood of Canadian homebuyers and sellers is changing with the times - environmental concerns are impacting the decisions people are making about their dwellings. From simple energy conservation efforts to the more elaborate use of organic building materials, the environmentally conscious mindset that our agents are seeing in clients is not a passing trend,” said Phil Soper, president and CEO, Royal LePage Real Estate Services. “To service this growing segment of the real estate market, we are pleased to launch our partnership with the National Association of Green Agents and Brokers (NAGAB) as well as the green accreditation program. This program will educate and empower our REALTORS® and brokers, as well as consumers on how to make eco-friendly decisions when it comes to the home.”

Through various education courses funded in part by the Ministry of Energy, Royal LePage real estate agents will be trained by the National Association of Green Agents and Brokers to assess environmental elements within a home and identify properties that adhere to green standards. Royal LePage members who take the National Association of Green Agents and Brokers training will be easily identifiable though a special designation logo.

“Few people realize that residential, commercial and institutional buildings represent more than 33 per cent of our total greenhouse gas emissions,” said Elden Freeman, National Association of Green Agents and Brokers founder and executive director. “While it is unreasonable to completely reduce carbon dioxide created by homes, there are various practices homeowners can implement, such as installing high-energy efficient windows, doors and insulation, high efficiency furnaces and appliances, and water-conserving fixtures such as showerheads and toilets that will significantly reduce negative effects on the environment.”

While positive changes are occurring in the general population there is much work to be done. More than half (51%) of all survey respondents say they are very concerned about the environment and think we are in dire need of change some are not as quick to implement changes. When asked, “What is preventing you from making your home more green?” over half (54%) of respondents said it was too expensive to do, while 15 per cent said they have no idea where to start.

Added Soper: “Canadians need to know that going green can certainly be within their means and within their reach. There are many simple and affordable measures that can lead to big gains for the environment, and many of the practices can actually save homeowners money.”

Small Steps for Big Change

When it comes to describing how green their current lifestyle is, 72 per cent of Canadians say they engage in traditional recycling practices. Making a difference can be as simple as implementing small environmentally friendly practices. The most popular green modifications that poll respondents already implement in their homes include switching from regular light bulbs to CFL light bulbs (74%), adding window and door sealers to prevent heat loss (61%) and switching to high efficiency washers and dryers and using low flow water fixtures (54%).

Some homeowners are taking bigger leaps. Caryn Thompson, a Toronto-based health promoter and owner of an eco-friendly home, is among those Canadians that took on green modifications when she and her husband decided to renovate their home. To create their eco enclave they opted for highly energy efficient windows made with low-e glass that decreases heat gain in the summer and keeps the house warm in the winter, installed central air that uses puron, and have painted with low or no VOC (Volatile organic compounds) products.

“When we decided to renovate our home, we wanted to make choices that would have the least impact on the environment and create a healthy indoor space for us,” said Caryn Thompson.

Motivating Forces of Nature

When asked, “What is the most influential factor for making your home more or completely green?” 35 per cent of respondents cited they are doing it for their children so they inherit a healthy planet; 32 per cent are doing it for the cost savings; and one quarter (25%) are doing it for their health and to have peace of mind they are living the best they can.

Mature Canadians edge out the younger set when it comes to recycling. Respondents aged 55+ (77%) are more likely than those aged 18 to 34 years (67%) to engage in traditional recycling practices.

More women (31%) than men (18%) are going green for their health. Conversely, more men (41%) than women (23%) cite cost savings as the most influential factor for making a change.

Additional Poll Highlights

Atlantic (72%) residents are the most likely to pay more, whereas Ontario residents (60%) are the least likely to pay more for an eco-friendly dwelling.
Fourteen per cent (14%) of homeowners are already living in an eco-friendly abode.
The survey found that 16 per cent of respondents say they exercise their green side from time to time, when it is convenient, and only nine per cent (9%) claim to be at one with Mother Earth, and live a very green lifestyle.
Seventy-eight (78%) believe there is a direct link between the unseasonably warm temperatures and decades of the world's lack of awareness about the environment. Albertans are the most reticent about such a link, with 68 per cent of respondents from Alberta claiming to see a link, whereas 82 per cent of people in Quebec believe the two elements are related.

Poll Methodology

Angus Reid Strategies conducted poll portion of the Royal LePage Eco Home Survey, with fieldwork completed on Tuesday, October 16, 2007. The poll was conducted on-line with a national representative sample of 1,266 Canadians survey respondents aged 18 year and older. The results have a maximum margin of error +/- 2.75% 19 times out of 20.

About Royal LePage

Royal LePage is Canada's leading provider of franchise services to residential real estate brokerages, with a network of over 13,000 agents and sales representatives in 600 locations across Canada operating under the Royal LePage, Johnston & Daniel, and Realty World brand names. Royal LePage manages the Royal LePage Franchise Services Fund, a TSX listed income trust, trading under the symbol “RSF.UN.” For more information visit www.royallepage.ca.

About National Association of Green Agents and Brokers The National Association of Green Agents and Brokers (NAGAB) is Canada's largest non-profit association of real estate agents committed to reducing greenhouse gas emissions. The association's Greenrealestate™ curriculum provides an education and certification program for real estate agents. Through the association's innovative offerings, real estate agents promote the benefits of energy conservation to their buyers and sellers. The National Association of Green Agents and Brokers has over 15,000 affiliate members coast-to-coast and boasts support from major corporate and government sponsors. For more information visit www.nagab.org.

For more information on Enviromently friendly real estate projects such as Dockside Green feel free to contact us anytime.

Cheers

Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Luxury Real Estate Listings in the Bayview - Victoria BC

2008-01-26T12:15:00.000-08:00

Properties in Victoria Professionals are proud to announce 2 hot new listings at the Prestigious Bayview Development. These spacious 1 bedroom 1 bathroom units are fabulously appointed and offer exceptional views.

The Bayview luxury collection of townhouses and condos is the last truly all ocean view community close to everything that Victoria has to offer. It is located on the highest land mass above Victoria's harbour offering exceptional ocean, mountain and city views.

The Bayview community, when complete, will feature an Amenity Clubhouse offering an indoor pool and a lap pool, whirlpools, saunas, jacuzzi, visitor facilities, racquetball, squash, tennis, exercise facilities and cafe bistro.

For more information our two listings at this one of a kind Victoria BC development please visit our Real Estate Info Blog or contact us directly. We would love to tell you more!

Cheers
Bill

Bill Ethier B.Sc - REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Victoria BC’s Bear Mountain finds new real estate markets as US economy weakens

2008-01-22T18:41:00.000-08:00

With all the talk about the subprime meltdown south of the border, it looks like we are not talking about it here in Victoria BC. Over the last seven trading days the markets have taken a beating. Has the dust settled? Some analysists say not quite yet. But that is the market, how about real estate in Victoria BC? It seams that things are looking rosy for the Bear Mountain Development. For more information please read, below, the media alert from Tartan Public Relations.

Slump south of the border means more, not fewer, purchasers looking north

January 22, 2008

Victoria, BC, Canada - It's a real (estate) interesting paradox.

The subprime mortgage crisis in the US and the weakening US economy means more, rather than fewer, opportunities for the real estate marketing team at Bear Mountain Resort, near Victoria, BC.

That's because their target demographic generally isn't affected by the subprime crisis, and that demographic never stops looking for real estate opportunities. Dale Sproule, Bear Mountain's director of real estate, says they have just opened an Arizona office to take advantage of the many US purchasers who are increasing their Canadian holdings, including resort-style real estate that Bear Mountain offers.

"The US market is slumping, but that has meant opportunities for us. We have found that many alert real estate buyers are bullish on Canada, especially the West Coast. Victoria, with its solid economic fundamentals, strong real estate market, and superb West Coast amenities, looks very good to a certain type of American buyer. Even with the two currencies nearly at par, they see value in Canada," says Sproule. "I just had a call from a client in Texas who bought property at Bear Mountain a couple of years ago. He thanked me for convincing him to buy at Bear: he told me it's the best real estate investment he's ever made. We're also seeing interest from International clients who have no intention of buying US real estate because they have no idea at what price point that market might bottom out. These are markets to be explored, so we're jumping in."

With condominiums, townhomes, fractional ownership and single family home sites offered, Sproule notes that both local buyers and purchasers from across Canada and the US are coming to Bear Mountain Resort because, as the resort and village continue to grow and take shape, they want to live there full-time or spend large chunks of time there. "It's always been about the golf and resort-style amenities, but now the village is becoming what we envisioned. We have the trolley system, an art gallery, insurance company, hair salon, a furniture store opening a month from now, athletic club, restaurants, coffee shop. We're seeing more and more purchasers that want to live here and take advantage of the amenities, rather than speculators. We see purchasers who live in and enjoy the resort atmosphere, go to their jobs in Victoria or the West Shore by day, and then come home at night to the mountain."

Sproule notes that their type of purchaser responds especially well to web-based marketing techniques that Bear Mountain Resort was one of the first major West Coast developments to use. "We have always been at the leading edge of real estate marketing. We were among the first to recognize the strength of Alberta purchasers and market aggressively in that province. We were among the first to use streaming video on the web that allows purchasers to actually see what the interiors and views from a particular property would look like. As our development has progressed, so has our web presence, and it's really our primary marketing tool for our target markets."

Sproule notes that sophisticated web site tracking provides immediate analysis of advertising campaigns. In 2008, Bear Mountain's online marketing program will continue to break new ground by tapping into new web sites and resources that shed light on far-away international markets. He notes that plans include opening a presentation office in London. "The UK is the third highest source of traffic to our web site. We have been working hard to mine UK leads over the past few years, participating in UK tradeshows and talking about our real estate product face to face with purchasers.

Focusing on the US, the UK and tapping into new international markets doesn't mean they're ignoring traditional Canadian markets and buyers. "We are staying true to our core markets of BC and Alberta, but we are also going further afield, which means more targeted marketing campaigns in eastern Canada, especially Toronto," says Kerri Moore, Bear Mountain's director of marketing. "We will open a presentation office in Vancouver this spring."

The West Coast real estate market, even with prices still rising, has changed from a couple of years ago. Back then, many new condominium projects sold out on first day of release. Now, some single-phase developments aren't generating enough pre-sales to go ahead, partly because those developers can't afford marketing dollars to generate enough sales to make those projects go ahead. Not so at Bear Mountain, which will be marketed nationally and internationally for the next decade.

"Here, purchasers benefit from the ongoing and evolving marketing efforts of Bear Mountain as a full-service, all-season resort with a major hotel, two high-end golf courses, and a resort-style community, with food and retail services," says Moore. Bear Mountain has had to react to the changing market too, and is leaving no stone unturned in their outreach to purchasers, she says.

The lower end of the price range at Bear Mountain is still affordable for young and first-time purchasers, Moore notes, with a limited number condominiums still available for under $299,000.

For information, go to www.bearmountain.ca.

About Bear Mountain Resort:
The premier destination and first and only master-planned resort community on Vancouver Island, Bear Mountain Resort provides a complete lifestyle experience, offering a variety of residential and vacation real estate opportunities as well as The Westin Bear Mountain Victoria Golf Resort & Spa. Situated on 1,500 acres of mountainside property, the community features the first and only 36-hole Nicklaus Designed golf offering and Nicklaus Academy in Canada, medical and traditional esthetics at the Santé Spa, five world-class restaurants and the state-of-the-art Mountainside Athletic Club, all within minutes of the beautiful seaside harbour of Victoria, British Columbia.

We, Properties in Victoria Professionals, are more than happy to assist you with all your real estate needs here in Victoria BC, including Bear Mountain. For more information on our services and listings, including two current listings we have at Bear Mountain, please visit our website or contact us directly.

Cheers
Bill

Bill Ethier REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Unseasonably High Price Appreciation and Record-Breaking Activity Cap Canada’s Real Estate Market in 2007

2008-01-20T14:16:00.002-08:00

Unseasonably High Price Appreciation and Record-Breaking Activity Cap Canada’s Real Estate Market in 2007

Victoria BC's real estate market and Canada’s real estate market posted significant gains in the fourth quarter of 2007 and showed little sign of the traditional seasonal slowdown. Average house prices continued to increase in the fourth quarter with many markets experiencing double-digit gains, according to a House Price Survey report released today by Royal LePage Real Estate Services.

Of the housing types surveyed, detached bungalows increased to $337,555 (+11.6 %), followed by standard two-storey properties, which rose to $399,738 (+11.3%), and standard condominiums, which increased in price to $240,395 (+11.7 %), year-over-year.
“The fourth quarter 2007 was surprisingly strong, with unseasonably high price increases and unwavering demand,” said Phil Soper, president and chief executive, Royal LePage Real Estate Services. “The strength of the market was apparent throughout the country, largely due to positive economic fundamentals. The value and export-demand for our natural resources has underpinned high employment rates, providing Canadians with confidence in the future stability of their jobs and their local residential real estate markets.”

Mirroring the pattern seen throughout most of 2007, it was the prairies that continued to dominate in price appreciation, with markets such as Regina and Saskatoon experiencing price increases as significant as 50 per cent. While agriculture is still a significant contributor to the regional economy, natural resources such as oil, gas, potash and uranium continued to drive exceptional growth in the area.

Homeowners in Saskatchewan saw property prices appreciate at a much higher rate than anywhere else in Canada, reflecting the relative affordability of homes in the region, and a shortage in supply relative to the booming demand for home ownership. The combination of a spike in the number of available jobs, the reasonable cost of living, and the attractiveness of the prairie lifestyle led to an unprecedented number of people searching for homes.In Winnipeg, demand outstripped supply, prompting significant price increases. A sharp rise in new housing starts, high employment rates and several capital investment projects all contributed to the province’s positive economic outlook. The increase in jobs also elevated consumer confidence and provided buyers with the ability to spend more on homes. Buyers entered the market eager to purchase properties before anticipated price increases occur.

Throughout the fourth quarter, Vancouver’s population continued to surge, as the city held great appeal for both investors and newcomers to Canada. The availability of a variety of jobs associated with the 2010 Olympics helped maintain the strength of Vancouver’s housing market, and continued to pressure house prices upwards.

In Alberta, the year end saw strong demand for more reasonably priced properties in resource rich Calgary and Edmonton; however, a surplus of inventory tempered activity levels and provided buyers with a selection of listings from which to choose. The rapid escalation of home prices in recent years has moderated demand and supports the current trend towards balanced conditions. This is in sharp contrast to the first quarter of 2007, when average house price increases in excess of 50 per cent were the norm in Edmonton.

The impact of the rise of Canada’s dollar to parity with the US dollar was mitigated by the end of the fourth quarter, as the manufacturing sectors in Ontario and Quebec continued to adjust to the dollar’s appreciation. Buyer activity levels in Central Ontario and Quebec remained strong and steady through the fourth quarter. In fact, Toronto displayed high levels of home buying activity in the fourth quarter, despite the city’s rising house prices, partly related to the introduction of a new land transfer tax that will be implemented on January 1, 2008.

Within Atlantic Canada, Saint John reported the highest price gains in the fourth quarter, and was among the country’s top five cities with the most significant price appreciations. In Saint John, it was the energy sector – which makes up more than half of the province’s total exports – that continued to drive the city’s economic vitality, luring both Atlantic residents and investors to the city’s real estate market. Despite a restructuring of the Irving family’s business assets, discussions persist about the development of a new $7 billion refinery in the Saint John area – a plan that would further solidify the province’s reputation as the natural resource hub of eastern Canada.

Added Soper: “As we move into the new year, activity levels are expected to wane from the frantic pace that many regions of the country experienced in 2007; however, average prices are expected to continue to rise, albeit at a much more moderate pace. Canadian buyers and sellers can expect healthy, balanced conditions in 2008 – the best environment for a strong and sustainable real estate market.”

REGIONAL SUMMARIES

In the fourth quarter, Halifax experienced better than anticipated house price appreciation, as sales figures and average house price increases continued to paint a picture of a healthy and well balanced housing market. Low levels of desirable properties in the popular Sackville, Dartmouth and Bedford neighbourhoods left little room for price negotiation, as buyers who attempted to go-in below asking were largely denied entry into the market.

Moncton’s economy continued to shine in the fourth quarter, leading to average house price increases. High mineral tax revenues, a strong service-oriented economy and the grand opening of Molson Canada’s new $35-million brewing facility continue to attract more buyers to an already tight housing market.

In Fredericton, the strong provincial economy, and economic impact of new commercial construction and the opening of several big box retail outlets drove consistent housing market activity in the fourth quarter.

Saint John is enjoying a streak of positive press, strong consumer confidence and exceptional year-over-year house price growth – three factors that have pressured house prices upwards across all housing types in the fourth quarter. Supply in the area continues to meet demand; however, with the increase in optimism related to growth in the Saint John area, this will only last for a short while longer.

Charlottetown’s housing market saw moderate growth in the fourth quarter, as demand for lower-maintenance properties led to modest year-over-year house price increases. New office building developments being built in the city’s core and a strong provincial economy have positively impacted the confidence levels of many area residents.

In St. John’s, speculation over the bourgeoning natural resource economy and a second drilling project outside the Hebron Ben Nevis continued to lure buyers to the area. Several new businesses to the city, including two Starbucks coffee houses and several big box retailers, suggest the city is poised for sustained growth.

Strong demand for houses in Ottawa continued to fuel price increases in the fourth quarter. An anticipated shift in demographics to take place within the workforce over the next few years has many newcomers flocking to the city.

Montreal’s real estate market continued to fire on all cylinders during the fourth quarter. The combination of the city’s high level of consumer confidence, a resilient economy that is adjusting to the strength of the Canadian dollar, and affordable interest rates have all led to strong buyer demand, pressuring average house prices upwards.

Toronto’s real estate market shattered all previously held records for unit sales in 2007. The momentum from the year’s first three quarters carried over to the end of the year, as robust buyer activity pressured average house prices upwards.

As the year came to an end, Winnipeg’s housing market continued to be characterized by rising average house prices, as inventory levels were not able to satisfy buyer demand. A sharp rise in new housing starts, high employment rates and several capital investment projects all contributed to the province’s positive economic outlook.

In Saskatoon, the combination of continued in-migration, tight inventory and increased property demand led to significant house price increases – of at least 50 per cent, year-over-year. Market activity in Regina echoed that of Saskatoon, as all housing types surveyed experienced significant year-over-year double-digit increases.

In Calgary, an increase in inventory during the beginning of the fourth quarter led to more balanced market conditions, and prompted single-digit average house price appreciation. The city has experienced a surge in buyers moving to condominiums in the downtown core simply due to their proximity to amenities and affordable prices.

Despite the dramatic increase in available inventory seen in the last three months of 2007, double-digit price increases were noted in Edmonton across all housing types surveyed. While demand is strong, the increased supply has impacted the resale market and homes that are not priced appropriately will take longer to sell.

A strong economy and a job market brimming with opportunity attracted an influx of buyers to Vancouver in the fourth quarter. In 2007, Vancouver’s population grew considerably and census reports maintain that large urban centres, including Vancouver, continue to attract people.

During the fourth quarter of 2007, Victoria’s real estate market experienced strong and steady activity, and recorded a rise in average house prices. The fourth quarter also saw slightly lower inventory levels, and well-priced product in most categories continued to be at a premium.

The Royal LePage Survey of Canadian House Prices is the largest, most comprehensive study of its kind in Canada, with information on seven types of housing in over 250 neighbourhoods from coast to coast. This release references an abbreviated version of the survey, which highlights house price trends for the three most common types of housing in Canada in 80 communities across the country. A complete database of past and present surveys is available on the Royal LePage Web site at http://www.royallepage.ca/, and current figures will be updated following the end of the fourth quarter. A printable version of the fourth quarter 2007 survey will be available online on February 15, 2008.

Housing values in the Royal LePage Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts. Historical data is available for some areas back to the early 1970s.

If you are interested in more information on the Victoria BC market please contact us or visiti our webiste and view our quarterly report.

Have a great day
Bill

Bill Ethier REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

Prestigious Real Estate Offering in Victoria BC

2008-01-17T10:29:00.000-08:00

Properties in Victoria Professionals are proud to offer you an amazing opportunity to own a luxury condo in the prestigious Belvedere in downtown Victoria BC.

Situated in the heart of Victoria, Belvedere is a 16-storey, mixed-use concrete tower that consists of 77 suites and ground level retail space. Developed by Concert Properties, Georgie Awards® 2007 Finalists for Best Multi-Family Development (High- Rise). Belvedere is ideally located within walking distance to the Inner Harbour, shopping, restaurants and entertainment. Amenities within the building include a spacious fitness studio, elegantly landscaped terrace, a lounge with pool table, a bike club and a workshop.

The condo offers 2 bedroom 2 bathroom with almost 1300 sqft of bright living space. Located on the South East corner of the building with city and park views. It has high ceilings, granite counter tops, teak floors, maple shaker cabinetry, stainless appliances and of course everything else Victoria has to offer.

For more information on this real estate offering or other luxury properties in Victoria please contact us or log onto our website http://www.propertiesinvictoria.com/

Have a great day

Bill

Bill Ethier REALTOR®

Properties in Victoria Professionals - Royal LePage Coast Capital Realty