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We have just sold another property at 203 Nia LANE in VICTORIA.  We would love to sell your property, just give us a call.
 
 
Located in the elegant seaside community of Gibraltar Bay, this bright, sun-filled executive home invites you to relax to the soothing sounds of the ocean, yet still be minutes from downtown or shopping. Inside, superior details surround you, including Brazilian cherry floors, granite counters, and a river rock fireplace that urges you to slow down and unwind. Step outside, and enter a warm private oasis of multi-level patios with tasteful landscaping, perfectly designed for entertaining or quiet contemplation. Or, retreat to your large, SW facing master suite with abundant sun and partial ocean views. Visit soon and you will see why this home, in better than move in condition, offers such rare quality.
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We have just sold another property at 3 720 Linden AVE in VICTORIA.  We would love to sell your property, just give us a call.
 
 
Situated on a quiet, tree-lined side street in Fairfield, this spacious, luxurious & brand-new town home welcomes you inside with its bright, sun-filled rooms. Entering from the grand veranda, it feels like a classic character home, but instead of maintenance worries, you will be free to enjoy the best things in life! Inside, the quality details that Abstract is famous for surround you, such as oak floors, a chef's kitchen, premium fixtures, and coffered ceilings. The flexible floorplan even offers a choice of a master bedroom on the main or the upper level. Ideally located, you will be just a short stroll from Cook Street Village, Downtown, or The Park. Life truly is good here, and it can be yours!
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Please visit our Open House at 11 4045 Rainbow ST in VICTORIA.
Open House on Saturday, June 30, 2012 13:00 - 16:00 **Open house is in Show Suite 4032 Rainbow Hill Lane. Rainbow Hill is a community of 20 prestigious view Town homes.
** SHOW HOME OPEN SAT/SUN 1-4pm ** You have worked hard to get to the top, now you can live there! On one of the highest points in the city, Rainbow Hill is a community of 20 prestigious view homes created beyond expectations. Gaze through your 12 foot floor to ceiling windows and take in the panoramic city, mountain, and sunset views. Relax inside your modern town home with Geo-thermal heating and cooling, entertain in your custom Nygaard interior, or just relax on your view deck and take it all in. With spacious, no-step, main level living, plus an additional level for your media room & more, this is as good as it gets and is truly a must see for the discerning luxury home buyer. Photos are of Show Home. HST is included in the price.
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Please visit our Open House at 2360 Chilco RD in VICTORIA.
Open House on Saturday, June 30, 2012 13:00 - 16:00 -Showhome at 2331 Chilco Rd
**Show Home Sat/Sun 1-4**The ?Austin? offer a great family layout with 3-4 bedrooms, including a large great room upstairs, plus a family room & guest room on the lower level. A great price and lots of space for your family! ?The Summit at Thetis? is a new development of semi-custom 3-4 bedroom homes priced from $474,900 to $549,900 offering exceptional value with 9ft ceilings, real gas fireplaces, gas barbecue outlets, and more, all surrounded by green space and only a short walk to Thetis Lake Park. Choose your plan, your lot, customize, and move into your dream home in about six months. Price includes net HST. Estimated Completion April 30, 2012!
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Please visit our Open House at 3380 Merlin RD.
Open House on Saturday, June 30, 2012 13:00 - 16:00 -Showhome located at 3392 Merlin.
AVAILABLE IMMEDIATELY! ** Show Home OPen Sat/Sun 1-4** The ?Coachwood? offers the ultimate in privacy and value with 9? ceilings, a spacious great room with real gas fireplace, and a large master with ensuite and walk in closet. The spacious 1 bed suite over the detached double garage gives you a lucrative mortgage helper without sacrificing privacy! ?Homes at Hazelwood? is a collection of 50 semi-custom 3-4 bedroom homes priced at $359,900 - $499,900 offering exceptional value with 9ft ceilings, gas fireplaces, gas barbecue outlets, and more. Choose your plan, your lot, customize, and move into your dream home in about four months. Price includes HST.
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Please visit our Open House at 3354 Hazelwood RD.
Open House on Saturday, June 30, 2012 13:00 - 16:00 Showhome @ 3392 Merlin
**Show Home Sat/Sun 1-4** The ?Bedford? offers timeless style with the master suite and all principal rooms on the main level. There are two additional bedrooms upstairs for family or guests. An optional, detached single or double garage is available on some lots. ?Homes at Hazelwood? is a collection of 50 semi-custom 3-4 bedroom homes priced at $359,900 - $499,900 offering exceptional value with 9ft ceilings, real gas fireplaces, gas barbecue outlets, and more. Choose your plan, your lot, customize, and move into your dream home in about four months. Constructed by Limona to Built Green BC standards to be a more efficient, cost effective, and healthy home. Price includes HST.
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We have just sold another property at 4516 Limerick LANE in VICTORIA.  We would love to sell your property, just give us a call.
 
 
Stunning 2001 built executive home on a level, cul de sac .33 acre, west facing rear yard lot. This beautiful family home is sure to please offering 4 bedrooms and 4 baths including an exquisite master on the main with generous walk in & ensuite bath. The floor plan is well conceived offering a great room kitchen/family room with french doors leading out to the west facing rear deck, separate dining and formal living room, large entry with sitting area and 3 bedrooms + study on the second floor. The beautifully executed finish details offer hardwood floors throughout the main floor living area, Griffin design wood cabinets with granite counter tops, heated tile floors in the ensuite and forced air heat pump system keeping you comfortable++.
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We can’t help but think that there is great opportunity for buyers in the Victoria real estate market.  Historically, our market has been one of the most stable in the country with much smaller swings, up or down, in pricing than other major centers.  Taking a snapshot today, we see that prices are down over 5% from earlier this spring and down nearly 10% compared to last spring.  For Victoria, this is a large price decrease.  The last time we had a drop of this magnitude was back in 2008 when the recession hit.  At that time, prices dropped by 12%, stayed down for 3-4 months, and then quickly jumped right back up.  Those with the cash and the courage necessary to make a purchase pocketed a quick and substantial profit.  The question is, are we seeing the same negative bubble again?

 

Of course, there are always the negative “experts” out there that say our homes in Victoria are overpriced and a big drop and permanent drop in prices is coming.  It seems that no matter what the market, we have heard this from the same people, constantly, for the last 10 years.  Too bad that they didn’t quiet down, buy a home 10 years ago, and enjoy the 100% price increase since then!

 

We could go on for pages and pages explaining why a large price correction is unlikely for Victoria, but we won’t.  Suffice it to say that there are many geographical, economic, and political factors that work to keep our prices high and stable.  It is our expert, or not as you may think, opinion that we are all going to look back and ask ourselves why we didn’t take advantage of this price drop and make a purchase.  History shows us that Victoria is a sought after region and that price drops here have always been temporary.  With prices down right now, and inventory levels very high, there are not only great deals out there, but a lot of properties to choose from. 

 

If you are looking for an investment property, a larger home, or your first home, you could do very well to take advantage of this temporary period of instability.  We bet that you will be happy that you did.

 

Over the last 30 days, 329 single family houses were sold, up by 13 houses from last week.  The median price is down $1,125 to $532,750. The average house was on the market for 40 days.

 

In the last 30 days, 153 condos were sold, up by 2 condos from last week.  The median price is up $3,000 to $272,500. The average condo was on the market for 38 days.

 

There are now 2,487 houses for sale, up by 26 from last week.  Condo inventory has risen by 8 to 1145 suites. 

 

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Mark Carney, the governor of the Bank of Canada, speaks to reporters at a news conference in Ottawa, April 18, 2012. (PATRICK DOYLE/REUTERS)


Canada’s annual inflation rate eased in May to 1.2 per cent, down significantly from the 2-per-cent pace of April, and the slowest since June, 2010, according to Statistics Canada figures released Friday.

 

That came just one day after Finance Minister Jim Flaherty tightened up mortgage regulations to help tame Canada’s high consumer debt burden, also taking pressure off the central bank to try to slow borrowing by raising its benchmark overnight rate from its current low level of 1 per cent.

 

Coupled with that is a string of recent weak economic readings, from retail and manufacturing sales.

 

“This simply drives home the point that there is now precisely zero urgency to tighten,” said Douglas Porter, deputy chief economist at BMO Nesbitt Burns, referring to Friday’s inflation report.

 

Bank of Canada governor Mark Carney was not expected to tighten policy soon at any rate, but economists now see him moving even later.

 

The so-called core rate of inflation, which excludes volatile items and helps guide the Bank of Canada, now stands at 1.8 per cent.

 

“Ottawa’s significant step to tighten insured mortgages this week should address the bank’s biggest domestic concern – the buildup of household debt, and the related strength in home prices,” Mr. Porter said.

 

“This fourth round of non-rate tightening will act like a targeted rate increase, and should dampen the housing market in a timely manner. It was probably no coincidence that the measures were announced the very day after the Fed unveiled the extension of Operation Twist for another six months. The government had likely been assuming Bank of Canada rate hikes would act to dampen housing later this year; but with the Fed still moving in the opposite direction, any chance of 2012 Canadian rate hikes seemed to fly out the window.”

 

An extension of the 1-per-cent overnight rate would stretch out the longest period of stable borrowing costs in Canada since the 1950s even further.

 

The 2.3-per-cent drop in year-over-year gasoline prices that pushed down inflation in May could also play into consumer prices over the next couple of quarters, Emanuella Enenajor, an economist at CIBC World Markets, said, but inflation will trend toward 2 per cent by the end of the year.

 

From the Globe and Mail, June 22, 2012

 

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