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We have just sold another property at 874 Walfred Rd in Victoria.  We would love to sell your property, just give us a call.
 
 
DELUXE HANDYMAN SPECIAL! Snap up the best priced acreage in Victoria. This large 5 bedroom 3 bath home is in need of repair, but for this price, its a no brainer! Features include spiral staircase, hardwood floors, HUGE kitchen, formal living room with fireplace, separate dining room, 200amp service, 2 car attached garage, 1 bedroom suite in full height walk-out basement could be enlarged to 3 bedrooms. The floorplan is spectacular. All this on over 1 acre awaiting your landscaping ideas.Floorplans Available. See www.andrweplank.com for more details. Tenanted - DO NOT ENTER PROPERTY WITHOUT AN APPOINTMENT. Property Sold "As Is, Where Is".
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We have just sold another property at 4023 Travis Pl in Victoria.  We would love to sell your property, just give us a call.
 
 
This location is excellent for families as it is close to private schools and bus route to UVIC. The yard is private and tranquil. Close to Swan Lake and Christmas Hill. Inside three spacious bedrooms, livingroom with fireplace, large diningroom, kitchen with oak cabinetry and access to a large deck over the backyard makes a self contained home. Additionally, downstairs provides extra accommodation for your student or in-laws with bedroom, rec. room/livingroom, kitchen and bathroom with access to a lovely patio area. This home has been well cared for and is ready to move into. Proudly presented by April Prinz, Re/Max Camosun 250-744-3301. Check out aprilprinz.com
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The headline in today's Victoria Times Colonist read "AVERAGE HOUSE PRICE IN GREATER VICTORIA TUMBLES." Wow, that got my attention! I found it particularly interesting because it was the opposite of what I had been seeing all month. In our office we have been extremely busy and have even been in competitive situations with some of our properties. It sure felt like a healthy, growing market with prices that are stable, or even rising a little bit.
 
Unfortunately, It seems that a media source has shown us once again that they don't understand how to interpret the information that they are receiving. Maybe it is more important to print a sensational headline than to get the real message across?
 
When we read the facts deep in the article, we see that the AVERAGE home price did in fact drop significantly but the MEDIAN home price rose slightly. How can this happen? Here is the real story.
 
The average price is what it sounds like. Add all of the sales together and then divide by the number of sales. However, if a few very expensive homes sell in the month, it pushes the average way up. The median price is another type of average, calculated by sorting all the homes sold, from lowest to highest, and then picking the one in the middle. With a median price, one or two extremely expensive homes have little to no effect on the result. This is much more realistic. If a ten million dollar estate sells in a given month, in reality it has no effect on the value of the average home in Victoria. I've been tracking real estate stats for some time now and have found the median price to be a far more accurate predictor of what the market is doing.
 
I don't expect the media to change the way that they report the news. We have to face it, they want to sell the news and sensational headlines grab more attention. But, hopefully you now have one more tool to help you read between the lines and determine what the real story is.  I encourage you to share this others so that we can work to understand the real story, whether about real estate or other much more imporant events around the world.
 
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The number of property sales throughout Greater Victoria showed little movement in January while overall prices remained stable. A total of 339 homes and other properties sold in January through the Victoria Real Estate BoardÕs Multiple listing Service¨ (MLS¨), down slightly from the 349 sales in December. There were 418 sales in January of last year.
 
Victoria Real Estate Board President, Dennis Fimrite, noted that January's figures reflect the continuation of the return to a stable and balanced market that began last year, "Historically, the winter months are usually a slower time for real estate sales and we anticipate market activity will pick up as we head toward spring." Fimrite noted that inventory levels showed little change in January. "There were 3,283 properties available for sale at the end of January - a slight increase compared to the 3,252 properties available at the end of December," he added.
 
The average price for single-family homes sold in Greater Victoria last month was $603,401 down from $647,063 in December. The median price, however, rose slightly to $576,000. The six-month average was virtually unchanged at $619,875. There were 12 single family home sales of over $1 million in January including one on the Gulf Islands. The overall average price for condominiums was $323,002 last month, up from $301,671 in December. The average for the last six months was virtually unchanged at $320,108. The median price for condominiums in January rose to $293,000. The average price of all townhomes sold last month rose to $447,792 from $434,783 in December. The median price also rose slightly to $418,050 while the six month average rose to $435,749.
 
MLS¨ sales last month included 178 single family homes, 90 condominiums, 39 townhomes and 11 manufactured homes.
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Property Photo: B105 379 Tyee RD in VICTORIA
We have a new listing at B105 379 Tyee RD in VICTORIA.
 
Near new and gorgeous in every way, this stylish & bright townhouse exemplifies chic downtown urban living. A corner unit with floor to ceiling windows, a great side patio, and your own front door offers so much more value and privacy than any condo. As you step inside, bamboo floors welcome you to a great layout for entertaining with a fantastic kitchen including premium appliances and granite surfaces. Upstairs, The two bedrooms are nicely sized and very bright with their large windows. A superb location, a great layout, and a new home warranty make this well priced home a great buy.
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It has been a very busy week in the market pushing the 30 day average way up.  Over the last 30 days, 154 single family houses were sold, up by 31 houses from last week.  The median price is up $2,500 to $577,500. The average house was on the market for 58 days.  As you can see, the volume of sales is increasing rapidly as we always hope to see at this time of year.  That increase in sales is starting to push prices up slightly. 
 
In the same time period, 86 condos were sold, up by 8 condos from last week.  The median price is up $3,250 to $291,500. The average condo was on the market for 65 days. The condo market is still relatively flat. The volume of sales is increasing, but pricing is generally stable when we look back over several weeks.
 
There are now 1,320 houses for sale, up by 24 from last week.  Condo inventory has risen by 40 to 777 suites.  Although total inventory is rising, the relative inventory compared to the rate of sales, expressed as "months of inventory," is dropping, especially for single family homes.  For SFH's, if the pace of sales keeps picking up we could run into a shortage of inventory.
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Buying real estate is competitive! Whether the market is hot, or not, the best properties sell quickly.
 
When you subscribe to our Private Members Search you'll have access to the same information that Realtors use. You will be able to access complete listing details, not just the few fields available on www.realtor.ca. You won't find a more detailed or more informative search. Now, you can search like a Realtor! As well, you can choose to be notified immediately as soon as properties that match your criteria are posted on the MLS¬ system, or have a price drop.
 
Simply put, this is an indispensable tool, saving you time, money, and heartache over missed opportunities. There is no cost and no obligation, but it is a requirement of our real estate board that you must be a member for this level of access.
 
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BY CARLA WILSON, TIMES COLONIST JANUARY 29, 2011
 
The future of the $1.5-billion Bamberton mixed-use development is uncertain now that regional district staff are saying one option is to deny the proposal.
 
"The application appears to be at a cross road where a decision is needed as to whether or not the application should proceed," said a Cowichan Valley Regional District staff report.
 
It outlines two options for Three Point Properties' bid to develop 630 hectares on the Saanich Inlet on the north side of the Malahat. One recommendation is to deny the application, and the other option is to give the Victoria developer up to three months to bring in a proposal showing how it would provide more detailed information and address several issues.
 
Three Point wants to build a 3,200-residentialunit development over 25 years, creating a community of 7,200 people with parks and trails. Commercial and industrial uses would also be part of the project to transform the former cement plant.
 
On Monday, the CVRD's electoral area services committee will consider the report. While the Bamberton concept is attractive, it has shifted away from a mixed-use waterfront village to a more conventional development along the TransCanada Highway, the report said.
 
Concerns include the need for updated assessment reports, interim commercial and industrial use on the waterfront seems contradictory to the long-term vision for the site, and commitments for amenities to service development are limited and conditional, potentially resulting in a future community that is underserviced, the report said.
 
The applicant's desire for flexibility in zoning and other matters conflicts with the CVRD committees' desire for certainty, the report said.
 
Ross Tennant, president and partner in Three Point Properties, is hoping committee members will give him more time.
 
"We are in the process of trying to find out where those areas of consensus are and then formulating a plan that we can present at the meeting on Monday, which would be to say, 'Let's move forward on those areas where there is concurrence and let's identify those areas where there are gaps and let's work together to try and resolve those.'"
 
General agreement exists on some of the commercial and industrial aspects of the proposal, which would generate jobs, while there's disagreement within the residential plan, he said. The property is now has industrial and forestry zoning. If the rezoning is denied, Tennant is not keen to pursue those uses. Three Point has spent $25 million taking down the old cement plant and remediating the site, he said.
 
© Copyright (c) The Victoria Times Colonist
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Property Photo: 27 Parkcrest DR in VICTORIA
Please visit our Open House at 27 Parkcrest DR in VICTORIA.
**OH Sat & Sun 2-4 **This Westcoast split level home is located on a cul-de-sac backing onto Craigflower Creek. It offers a waterfront lifestyle at an affordable price. This home features a family room, sun room off the kitchen, separate dining room, living room with vaulted ceilings and fireplace. Laundry room and power room off the carport and an upper level with 3 bedrooms and 2 bathrooms. Updates include new stainless fridge/stove, bathroom vanities, sunroom, fire pit/water feature wall, '02 roof, '09 HW tank, patio & landscaping. Cosmetic updating would greatly add value to this family home.
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Property Photo: 302 2211 Shelbourne ST in VICTORIA
Please visit our Open House at 302 2211 Shelbourne ST in VICTORIA.
**OH Sun 2-4**This spacious and light filled top floor, 1 bedroom and den (2nd bedroom) 1.5 bath unit is a must see. It features vaulted ceilings, a large balcony and northerly views from the quiet side of the building. The layout features a kitchen with a pass through into the inline dining and living rooms, a master bedroom with a walkthrough closet and 2 piece ensuite, in suite laundry off the main bathroom and an office off the living room. Secured parking and a heated storage room are a plus. A short walk takes you to Jubilee Hospital, shopping, parks, tennis courts, or downtown. Park Place is a fully remediated 21 unit building with a 10 yr warranty in place. This unit is vacant for immediate possession.
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