Here is our Market Dashboard for the month ending February 2016. Another stellar month with MLS unit sales up 42% over February of last year! Low inventory levels and high consumer demand continues to fuel our local Victoria Real Estate Market. We plan on sending this Dashboard out on a monthly basis. A quick snapshot of the market stats to keep you in the loop with our local market. We hope you find it useful!
March 4, 2016
February 2016 Market Dashboard
January 13, 2016
What's happening in with all that construction these days??
Getting a call from Carla Wilson at the Times Colonist this week was really no surprise! With all the construction going on in the Westshore these days, it prompted her to call The Preferred Homes Team to get the scoop, right from the trenches. In our conversation with her she seem surprised to hear that the rate of increased sales were as high on the Westshore as many neighbourhoods in and around the core area of Victoria.
Yes that's right, sales on the Westshore are hitting double digit increases just like their cousins in Saanich, View Royal and Victoria! The difference is, with constant growth and building in Langford and Colwood, the demand is easier to maintain than other areas, which in turns offers affordability to Buyers.
For an in-depth look at Westshore stats, or stats on any other area in Great Victoria give us a call. If you are looking for a new home, or are considering marketing...
April 1, 2015
Market Stats for March 2015!
The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for March 2015. A total of 734 properties sold in the Victoria region this March, a 27.7% increase compared to the 575 properties sold in the same month last year.
"We saw 393 single family homes in the region sell in the month of March. The last time we saw numbers this high in March was in 2010 when 414 single family homes sold," Victoria Real Estate Board President Guy Crozier says. "And though we see sales numbers have increased compared to last year, we see fewer active listings for sale compared to last year."
There were 3,769 active listings for sale on the Multiple Listing Service® at the end of March, 6.9% fewer than the 4,050 active listings in March 2014.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $560,500. The benchmark value for the same home this month has...
March 17, 2015
Do you remember the Enchanted Forest?
I sure do. My first memory of it was having the joy of seeing this magical place during a road trip with my Grandparents to Winnipeg in the late '60's. As a impressionable 5 year old it truly felt Enchanted to stroll through this forested wonder seemingly in the middle of nowhere! Over the year we've visited it a few more times and it never seems to lose it's magic. Hopefully the current owners will be able to find someone to carry on this one of a kind fairytale property! I hope you enjoy the article:
March 2, 2015
Market Stats for February 2015!
The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for February 2015.
542 properties sold in the Victoria region this February, a 31.6% increase compared to the 412 properties sold in the same month last year and a 54.4% increase compared to the 351 properties sold last month in January.
"The trees bloomed early in Victoria, and so did local real estate. February was a busy month with numbers closer to what we would expect to see in the spring season." Victoria Real Estate Board President Guy Crozier says. "285 single family homes sold over the course of the month. We've not seen that many single family homes sell in a February since 2008 when we tracked 295 transactions. Though buyers are already in spring purchase mode, the amount of available inventory may not be quite up to the pace. We continue to track the trend of higher year-over-year sales, and lower year-over-year active listings that we started to see in mid-2013."...
February 23, 2015
What's A Referral?
Plain and simple, there are just some services that intimidate me. I don’t understand
all the terminology, I don’t understand the process and often I’m worried about the
steps involved. I’m worried I’m going to pay too much, not get what I’m looking for,
make a bad choice on the business I choose or perhaps a combination of all three.
For example, I was recently looking for a marine mechanic. First of all, I’m not the
most mechanically minded guy around. On top of that, bring a boat into the equation
and I’m really out of my element. The last thing I need is a marine mechanic
scrambling above deck after being in the engine compartment for an hour, telling
me I’m going to need a new “flux capacitor” and because of a boat it has to be
stainless, dripless and anti-magnetic.
So what did I do? I spoke with a few friends with boats and listened to see if any had
the same concerns I did? Did any of them lack boat mechanic savvy?...
February 2, 2015
January 2015 - VREB Stats
The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for January 2015.
351 properties sold in the Victoria region this January, an increase of 2.6% when compared to the 342 properties sold in the same month last year.
"We don't expect to see big numbers in January. It's a slower month traditionally for real estate," Victoria Real Estate Board President Guy Crozier says. "Even this slight increase after the 11.67% year over year increase in sales we saw in 2014 shows the continued stability of our market. There's also a good balance of inventory available for sale, which will likely appeal to buyers as the spring season hits. Last month while we saw 10 single family homes sold for over a million dollars, there were also 95 homes sold for under $500,000."
At the end of January there were 3,283 active listings for sale on the Multiple Listing Service®, a slight decrease from the 3,489 in January 2014. This continues a trend that started in...
January 20, 2015
Duty of Honesty and Good Faith
When entering into a contract of purchase and sale, we get asked all the time......"What's my out clause"?
The truth is.....there is no out clause. When entering into a contract of purchase and sale, it's important to say what you'd like to do, and do what you say. There is a real mis-conception out there that the Buyer should have an escape clause and the Seller should be bound by the contract, until the Buyer says "okay". If you make an offer to purchase conditional upon receiving financing, passing an inspection or some other condition that the Seller has agreed to, it's important to know the Seller expects you to do your due diligence and so do the courts. In a recent decision the Supreme Court of Canada ruled that there is a general duty of honest contractual performance in every contract. The court also stated that "parties must perform their contractual duties honestly and reasonably......".
What all this means is "The courts may not look very favourably on a party tying...
January 5, 2015
2015 Property Assessments - What do they mean?
The recent news release of the 2015 has everyone aflutter...and the question is why?
This most recent press release from B.C. assessment regarding the subsequent mail out of 2015 assessments has to be the biggest non-story of the year, which doesn't say much considering it's only the 5th of January. With that said, let's consider what this really is.
Each year municipalities finalize a budget for the coming year, in Victoria's case all 13 arrgh! From there, it's time to generate the income needed to provide for the expenses, remember in British Columbia, unlike federal and provincial Gov't, Municipalities can't run large deficits. Rightly or wrongly, the way we generate revenue in municipalities is largely through taxing businesses and properties. How do we decide who to tax the most and who to tax the least? The
answer seems to be, we will tax the properties based on their value, higher valued properties will pay more taxes and lower valued properties pay a lower tax. So, all...
December 29, 2014
Updating your kitchen in the New Year?
Thinking of updating your "space challenged" kitchen for the New Year? Check out these creative ideas on how to make the best use of that smaller kitchen footprint!
December 8, 2014
Top 10 Entry Level Langford homes sold in November
This family friendly community is still the fastest growing municipality in the CRD, and leads the CRD with housing starts. Affordability and low interest rates have the been the main market drivers with 431 single family sales year to date, 46 sales in November alone. And here's my shameless plug...Watch for the January launch of "Summerstone", our new 69 lot single family development, priced in the mid $300's. Stay tuned to our website for updates!
1. 1009 Boeing Close - $349,900
2. 1005 Gala Court - $354,900
3. 3338 Turnstone Drive - $360,000
4. 3326 Myles Mansell Road - $410,000
5. 1326 Bombardier Crescent - $449,900
6. 3056 Dornier Road - $455,000
7. 3321 Piper Road - $475,900
8. 3319 Merlin Road - $509,000
9. 2791 Kingswood Road - $527,000
10. 564 Brant Place - $528,000
December 1, 2014
Top 10 Luxury Home sales in November
It has been a strong year for homes priced over $1m, with 204 sales, from the Peninsula to Victoria. These are 10 of the Top Luxuary Homes to sell in November 2014.
1. 4014 White Rock Street, Ten Mile Point
2. 1640 Hollywood Crescent, Fairfield East
3. 3215 Midland Road, Uplands
4. 319 Denison Road, Gonzales
5. 2003 Hovey Road, Saanichton
6. 1994 Ferndale Road, Gordon Head
7. 954 Monterey Avenue,...
November 27, 2014
Creative Ideas for Holiday Guests
More family and friends staying at your place for the holidays than you have room for? Here are some creative ideas!
October 27, 2014
When to Paint Your Door Orange?
With Halloween close approching we found this article fitting. We have seen lots of bright red doors on homes but why not choose orange next time you're thinking about painting. Check out the article below for some ideas. Orange is a great colour for an entry of a home but hard to match with.
May 16, 2014
Summerstone sneak preview!
Sneak peak of the Summerstone. 69 detached homes in the mid 300's coming this fall........some of the best an most unique Limona Homes ever.
May 13, 2014
How would you like a 1.99% mortgage?
This could be pretty big news - a real mortgage at 1.99%. Of course, it comes with a few restrictions, but the bottom line is that this is real - simply wow!
May 6, 2014
A new home under construction at The Summit at Thetis
Today, we just started construction on a new home on Lot 13 at The Summit. It is similar to the Poplar model, our main show home, but it has been modified to take better advantage of the shape of the lot, and the view to the park and city beyond from the master bedroom.
At only $529,900 including appliances, blinds, and GST this is an excellent value in a nearly sold out subdivision.
If you want to learn more visit our website. To make this home yours before someone else does, contact us today, or visit our sales centre at 39 Bamford Court, every Saturday and Sunday from 1-4pm.
Even better, buy this home while it is under construction and take advantage of the opportunity to choose your own colours and surfaces! (s)
May 3, 2014
The latest market stats - and some team news!
May brings the sunshine and some healthy Real Estate numbers to Victoria......and some changes to our Real Estate Team!
First.....here is the release of our market update dashboard. A simple to read custom dashboard that will show new sales, listings, days on market and other easy to understand pertinent info related to Victoria's Real Estate Market. This dashboard is easily customized, and we'd welcome any feed back that could enhance it to better suit our clients.
Secondly.....As you may have noticed, our team has changed! Crozier and Marchant have merged with the Top Selling Team in Victoria, "Preferred Homes Team". This brings the sales and marketing power of two great Real Estate forces together, creating a climate for our clients that is unprecedented in Victoria. With this change we've enhanced virtually every system in place, combining the best practices of each Team to better serve us all. Look for the listings marketed by Preferred Homes Team of Crozier, Marchant and Leong...
March 29, 2014
And Then There Was Only One.....
We are now down to our last home at Homes at Hazelwood. Yesterday we accepted an offer on our show home which means that we have one 3 bedroom home left with a nice big back yard for only $349,900 including GST, appliances, and blinds.
Would you like to make this remaining Scottswood model your home? Would you like to settle into your very own brand new home in just a few weeks? If so, you had better move fast! This is it, your last chance to make your home at Homes at Hazelwood.
Our show home will be open at 3341 Piper on Sunday from 1-4pm! We hope to see you there!
March 13, 2014
Another young couple moving to The Summit at Thetis
In this brisk Spring market, sales keep moving along nicely! Just today, another couple has chosen The Summit at Thetis for their new family home.
With only SEVEN homes left, there are still some great options available, but time is running short if you would like to make this popular neighbourhood your home!
We are open Saturday & Sunday from 1-4pm and hope to see you at our show home at 39 Bamford Court. (s)
March 6, 2014
Only one Scottswood now left at Homes at Hazelwood
If you have been thinking of buying at Scottswood at Homes At Hazelwood you may be down to your last option! We just accepted offers on lots 39 and 48, both for Scottswood models, leaving our last Scottswood available and under construction on lot 45. Best of all, this home is nearly complete meaning that you could move in as early as March 31!
Our remaining homes are open every Sunday from 1-4pm. We hope to see you there!
February 25, 2014
A great new 3 bedroom + den home for lot 21 at The Summit!
We've just released this new house plan specifically for lot 21 at The Summit at Thetis.
With three bedrooms plus a den, all bedrooms on the same level, and an oversize double garage with ample room for a workshop, this large family home is one of the last opportunities to buy your home in this nearly sold out development.
At only $519,900, and only available on this lot, this is a great value in a brand new home. Even better, if you purchase this home before construction, you can customize your colours and surfaces and still move in within six months!
Come visit us at our show home every weekend from 1-4pm, or call us for a private tour.
February 12, 2014
Another sale at The Summit at Thetis
January 29, 2014
Only FOUR lots left at Homes at Hazelwood!
Another great week with more families choosing Homes at Hazelwood as their next family home. Lot D and E are now sold with homes nearing completion. That leaves only three of the Scottswood models at $349,900 and our show home at $379,900, all plans with 3 bedrooms. Our show home is available anytime for a fast possession and we will have a Scottswood ready for the end of April.
We are definitely getting to last call for Homes at Hazelwood. If you are house shopping, why not visit us every Sunday from 1-4pm and see what all the fuss is about? (h)
January 20, 2014
Congratulations Karl Leong - RE/MAX Camosun's Top Agent for 2013
On behalf of all of us on The Preferred Homes Team, congratulation to our partner, Karl, for being the top agent for 2013. With about 200 agents in the company, this is quite an achievement!
We are also proud to report that our team was the top team in the company for 2013, a repeat from 2012.
Of course, the thanks really go to our clients for their trust and to our colleagues for cooperating with us on our listings. Here's to another great year for everyone! (h)(s)
January 16, 2014
Another 3 families moving to Homes at Hazelwood!
At this point, we are over 90% sold out with only FIVE homes left.
Homes at Hazelwood is regarded as one of the best values in the West Shore, but that opportunity is nearly gone. If you are interested in learning more, or finding a home for yourself, check out HomesAtHazelwood.ca today, and then come by our show home this Sunday from 1-4pm. You'll be glad that you did. (h)
January 4, 2014
Summit at Thetis: Show Homes Open Saturday & Sunday, 1-4pm
Our team will be back at our showhome at The Summit at Thetis both days this weekend from 1-4pm. Although we are over 80% sold out, we still have some great plans available. Check out the website, come visit, and let us start building your new dream home today.
Our show home is located at 39 Bamford Court. Just follow the signs!
January 4, 2014
Homes at Hazelwood: Show Home Open Sunday 1-4pm
The Christmas season is over and our show homes at Homes at Hazelwood are open again, every Sunday from 1-4pm. We've got a lot to show you including our new super popular Scottswood plan starting at only $349,900. Or, if you need more space, check out our Somerset with four bedrooms on the same level for only $429,900. We also have a Winchester, 3 bedroom home at $379,900 ready to move into today. All of our prices include appliances, blinds, and GST!
Come on by and visit us at Homes at Hazelwood at 3331 Piper on Sunday from 1-4pm
December 11, 2013
Price Breakthrough! A Brand New 3 Bedroom House for only $349,900
No corners are cut here! Yes, this is a regular detached house with a real back yard. It includes a gas fireplace, a garage, and much more. This is a regular freehold lot so there are NO strata fees here either.
We will only be buiding four of these homes and then they will be sold out. If you want to learn more, check the Homes at Hazelwood website for full details and then call us today!
As an added bonus, the next two homes sold will include FREE appliances and blinds, a $5000 value.
Call today! (h)
December 11, 2013
We are proud to be able to help the United Way help others!
Besides financially supporting the United Way, we wanted to see if there was more that we could do to help such a great organization do an even better job in our great city. We feel strongly that as a successful local business, it is our responsibility to give back to our community.
When we heard that the United Way was scrambling to find bags to use to deliver their workplace campaign materials we saw it as an opportunity to step up! Now, the United Way has enough good looking, United Way red bags to last them for a couple of years.
Thanks for allowing us to help!