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We have a new listing at VW Songhees, Victoria West.
 
We are delighted to present this two level, 3 bedroom, 2 1/2 bath executive townhome in the Shutters complex at Songhees. 1730 sq.ft. of liveable space presented in a perfect floor plan and with first class finishings and design. There are 5 separate outside spaces including 2 balconies, a spacious south facing pond side patio surrounded by trees and landscaping and an amazing roof top terrace with extra gardens - you can even grow your own herbs and flowers. Hardwood floors on both levels, new marble tile in the designer kitchen, granite counter tops, floor to ceiling south facing windows and more. This home has its own two car garage with space for storage. Shutters offers a pool, hot tub and sauna.
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Over the last 30 days, 285 single family houses were sold, down by 19 houses from last week.  The median price is down $19,750 to $561,000. The average house was on the market for 34 days. 
 
In the same time period, 159 condos were sold, down by 26 condos from last week.  The median price is up $4,500 to $299,500. The average condo was on the market for 34 days.
 
It is important to note that we have seen a decrease in the number of properties sold for the last two weeks in row.  This has been accompanied by a slight drop in prices and an increase in the number of days necessary to sell a home. This is a trend worth watching. I don’t think that we have reached the peak of the spring market yet, but only time will tell.
 
There are now 1,890 houses for sale, up by 105 from last week.  Condo inventory has risen by 52 to 994 suites.  Slowing sales combined with the constant influx of new listings has significantly increased the inventory in the last week.
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Property Photo: 46 Howe ST in VICTORIA  
We have just sold another property at 46 Howe ST in VICTORIA.  We would love to sell your property, just give us a call.
 
 
Take advantage of this incredibly rare opportunity to purchase a large classic Fairfield character home in one the most sought after locations, less than half a block to Dallas Beach and Clover Point. The great curb appeal and desirable West facing rear yard add even more to the value! Inside you will find oak and edge-grain fir floors, beautiful built-ins in the living and dining room, and all original doors and hardware. With 5 bedrooms, plus a 6 11 undeveloped basement, this home which has been in the same family for 57 years, is the perfect upgrade and renovation opportunity!
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Real estate is often overlooked in the quest for tax reduction and deferral, let alone income generation and inflation protection. If real estate is all of these things, why doesn’t everyone own a rental property? The answer is simple – money.
 
It’s not that investors don’t have the money to get into the rental property market, because this can be easily accomplished with leverage and minimal monthly carrying costs. The problem is there is simply no money to be made by financial professionals when it comes to rental real estate. The result is that rental real estate is a secret tax shelter that few people ever consider.
 
Investment advisors sell stocks, bonds and mutual funds. Insurance agents sell insurance policies. Accountants sell tax preparation services. Real estate agents sell real estate, but they tend to sell real estate from a vendor to a purchaser to be used solely as a principle residence.
So rental real estate ends up being a golden goose, elusive, yet attractive.
 
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Property Photo: 3630 Craigmillar AVE in VICTORIA
We have a new listing at 3630 Craigmillar AVE in VICTORIA.
 
With 3 bedrooms on the main level, and 2 separate suites below, this is a GREAT opportunity to own your own home while your tenants pay most of your mortgage! But, that is just the beginning of a great list of features including original hardwood floors, high ceilings, and a private west facing deck with great city and mountain views. Recent upgrades include many new windows, a new deck, and a newer roof. Just move in and enjoy. Located on a peaceful winding country lane, yet right in the heart of the city, this home offers a peaceful setting, a convenient location, and a great revenue opportunity
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Property Photo: 7065 Willis Point RD in VICTORIA
We have a new listing at 7065 Willis Point RD in VICTORIA.
 
A winding driveway takes you through the trees to this custom executive home, perfectly positioned to take advantage of the fantastic ocean views over Brentwood Bay. All principal rooms face the view with expansive, new cedar decks that invite you to settle down and watch the boats go by. Inside, you will find careful maintenance and continuous upgrades by the long time owners, including a recent deluxe chef's kitchen, upgraded bathrooms, and more. The large, level lot of nearly an acre gives you and your family the space you want, and the privacy to enjoy your rural life. Although only 25 minutes to Victoria, you will feel like you are a world away in your country retreat.
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Tip #6 - Familiarize yourself with the neighbourhood before buying.
 
Check out the neighbourhood you are considering, and ask around. What amenities does the area have to offer? Are there schools, churches, parks, or grocery stores within reach? Consider visiting schools in the area if you have children. How will you be affected by a new commute to work? Are there infrastructure projects in development? All of these factors will influence the way you experience your new home, so ensure you’re well-acquainted with the surrounding area before purchasing.
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Property Photo: 301 1540 Dallas RD in VICTORIA
We have a new listing at 301 1540 Dallas RD in VICTORIA.
 
Located right on the waterfront at Ross Bay, the panoramic ocean and mountain views from this 55+ condo are breathtaking. Inside, this very large 2 bedroom suite offers more than just great views with its own insuite laundry, separate dining room, and sunny South West corner location. As well, this friendly 11 unit building has just being upgraded and features new glass balcony railings and, very soon, a complete new coat of paint - everything already paid for so you can just move in and enjoy. All in all, this is a well cared for building in a great location ? right on the waterfront and just a short walk to Fairfield Village for shopping, dining, and more.
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Today several banks, including TD, raised their fixed term mortgage rates.  TD's 5-year rate moved from 5.34% to 5.69%, an increase of 35 basis points.  We expect more banks to follow suit over the next few days.
 
We checked with a few mortgage brokers this morning and their rates have not net increased, still generally below 4% for a 5-year mortgage.
 
If you are considering buying a property in the next couple of months, you should talk to your bank or broker today and discuss locking in a rate.
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