February 2, 2012
The first month of 2012 has gone by in a flash with an interesting mix of weather - they say our winter is going to be much more mild than we usually have but only time will tell. This past month saw a fair bit of rain and lots of wind. Cancelled ferry sailings and a Victoria snow day! That was actually a very happy day for many of us.
I started my duties as President of the Victoria Real Estate Board on January 1st and immediately started feeling like a media hound, with 5 interviews - 3 print, one radio and one TV - all within the first couple of days. Having the BC Assessment release the 2012 property assessments on the same day certainly had an impact on the interest level of the press. Property assessments this year seem to be fairly close to last year though some individual properties saw significant movement in either direction. The appeal period ended on January 31st so if you were unhappy with your assessment and haven't done anything about it yet - sorry, but it's too late!
I have also been busy with my real estate clients. My HUGE condo in The Rudyard Kipling building on Beach Drive is still available. It's a gorgeous suite and don't let it being a co-op scare you away - it's actually a very functional arrangmenet. To get some insight follow this link for details on how it works.
In James Bay I have a great 2 Bedroom, 2 Bathroom ground floor condo available - also a very good size in a well run building. The location could hardly be better - within walkable distance to anywhere in the downtown area, James Bay, Cook Street Village, Beacon Hill Park - you name it. Coming up soon is a 2 Bedroom townhouse also in James Bay at a very good price. Keep an eye here for the details. For infomation on all of my listings please see My Listings page.
This weekend I have an open house at another property - 1005 Karen Crescent in the Swan Lake area. This property boasts great views but does need some work. Pop around to my open and we can discuss options and plans. It's a great deal for anyone willing to undertake the work.
Open houses are a great way to get introduced to what's available in the market but be sure to stay true to your REALTOR® if you're already working with one. Tell the agent at the Open who your REALTOR® is and then don't tell them anything else - they don't owe you any agency obligation and if you ultimately decide you want to offer on the property, the listing REALTOR® is obligated to tell their client everything they know about you - make sure they don't know anything important! For a list of my upcoming Open Houses check out my Open Houses page. For most of the open houses going on in Victoria, click on the OpenHousesVictoria button for a comprehensive list. This is a great website for up-to-date information - check it just before you head out to open house - there may be new additions or some may be cancelled at the last moment.
What’s Going On In the Market?
Our listing inventory is down somewhat - at much more comfortable level. As of today there is just slightly over 3,600 active listings on the market. Sales in January were up and more buyers are getting active. Potential changes in the mortgage rules means buyers who are going to be mortgaging more than 80% of the purchase price should move quickly. See In The News page for link to an article on this topic.
Interesting Articles in the News
Please have a look at my In The News page for interesting articles about the real estate market in Victoria and around British Columbia.
For immediate assistance please call me at 250-477-7291 or toll free at 1-800-668-2272. I look forward to meeting you.
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