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.
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?
Mark Carney, the governor of the Bank of Canada, speaks to reporters at a news conference in Ottawa, April 18, 2012. 