The Island Homes Group

Agustin Torres & David Silletta

I have listed a new property at 1 224 Superior St in Victoria.
Originally built 1892, this stunning character home is deserving of its Heritage Designation. Situated in the picturesque neighborhood of James Bay, this home is just a short walk from beautiful Fisherman’s Wharf and the BreakWater. Take a stroll in the other direction and you will soon come upon the Inner Harbor. James Bay is unequalled on the Island for services, amenities and recreational opportunities all within easy, level walking distance plus a quiet, friendly neighborhood ambience. The open concept living area opens onto a large kitchen and is flooded with natural light. With its high ceilings and ornate wooden finishing, this home exudes a sense of mid century charm. The spacious covered porch provides ample room for you to relax on patio furniture, host a barbeque, or enjoy dinner outdoors in the warmer months. This character home presents the unique opportunity to own property in one of the best locations Victoria has to offer.
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I have sold a property at 405 745 Travino Lane in Saanich.
Rare luxury penthouse in award winning Travino Landing, distinct and coveted in quality, innovation and high efficiency. Abundant space and light with over 1750sf of living plus; large terrace, 3bedrooms(1 as Den)/2.5 bathrooms, soaring floor to ceiling windows, over-height ceilings, timeless kitchen, massive eating bar and so much more. Primary bedroom substantial in size with walkthrough closet leading to lavish Carrara inspired bathroom The private terrace nothing short of spectacular with 500sf of extended living, entertainment and fabulous distinctive 180-degree Southern outlook. Two parking stalls also included plus oversized storage. EV charging also available! Other features include car share, gym, library, games and meeting rooms, gorgeous manicured gardens and warrantee on build. This complex is unrestricted for rentals and suited for all ages and pets. Central in location, this residence positions you soundly for the idyllic lifestyle our Capital City is famous for.
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I have sold a property at 984 Kentwood Terr.
An exceptional family home! Elegant and classic Tudor style set in the lush landscape of the Broadmead area. Numerous renovations and updates include bathrooms and kitchen, quartz countertops, gas furnace, gas water heater, gas range, gas fireplace and BBQ. The spacious interior boasts 4 skylights, built-ins, mullioned windows and a front and back staircase to the upper level. Garage has been renovated to include heat and storage. This well crafted and beautifully maintained home rests on a large, very private fenced lot with gorgeous terraced gardens. An interlocking brick patio extends across the length sunny, rear yard. A wonderful blend of character and modern ease!
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I have sold a property at Lot B RALEIGH Ave.
Incredible opportunity to build your dream home! The 29,707 sq ft building lot is cleared, flat and full of sun. Power/hydro meter and a drilled well have been installed. This parcel borders the City of Port Alberni city limits, at the top of Argyle Street, and is Zoned as rural residential A1 within the Alberni Clayoquot Regional District.
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I have sold a property at 303A 2461 Gateway Rd.
Welcome to Sky Gate, your gateway to the outdoors! Live right at Langford's most exciting new development. Constructed to be Built Green and to Energy Step Code 4 of the BC Building Code. 74% more efficient than current BC code requires, Sky Gate is one of Vancouver Island’s most environmentally-advanced multifamily buildings. Enjoy absolute ambient comfort with triple pane windows and a heat pump for heating and cooling in every home. Luxury vinyl plank flooring, quartz counters, LED lighting, soft close cabinetry, and large rooms in each of the five modern floor plans to choose from. Building amenities include roof-top deck, fitness centre, dog run, community gardens, EV charging stations, community lounge, bike storage, and so much more. Located in across from Staples on the new Gateway Rd.
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I have sold a property at 205A 2461 Gateway Rd.
Bryant Floor Plan: Welcome to Sky Gate, your gateway to the outdoors! Live right at Langford's most exciting new development. Constructed to be Built Green and to Energy Step Code 4 of the BC Building Code. 74% more efficient than current BC code requires, Sky Gate is one of Vancouver Island’s most environmentally-advanced multifamily buildings. Enjoy absolute ambient comfort with triple pane windows and a heat pump for heating and cooling in every. Luxury vinyl plank flooring, quartz counters, LED lighting, soft close cabinetry, and large rooms in each of the five modern floor plans to choose from. Building amenities include roof-top deck, fitness centre, dog run, community gardens, EV charging stations, community lounge, bike storage, and so much more. Located in across from Staples on the new Gateway Rd.
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I have sold a property at 203A 2461 Gateway Rd.
Welcome to Sky Gate, your gateway to the outdoors! Live right at Langford's most exciting new development. Constructed to be Built Green and to Energy Step Code 4 of the BC Building Code. 74% more efficient than current BC code requires, Sky Gate is one of Vancouver Island’s most environmentally-advanced multifamily buildings. Enjoy absolute ambient comfort with triple pane windows and a heat pump for heating and cooling in every home. Luxury vinyl plank flooring, quartz counters, LED lighting, soft close cabinetry, and large rooms in each of the five modern floor plans to choose from. Building amenities include roof-top deck, fitness centre, dog run, community gardens, EV charging stations, community lounge, bike storage, and so much more. Located in across from Staples on the new Gateway Rd.
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Who could have imagined that a global pandemic would be a catalyst for one of the most dramatic upswings the real estate industry has seen in recent years.

As homes became our office spaces, classrooms, and mask-free sanctuaries, many Americans realized they needed a new setup. This hyper-focus paired with record-low mortgage rates inspired many buyers to step into the market — far exceeding the available inventory of homes.

Still, even with skyrocketing demand, homeowners selling in a seller’s market should do their due diligence to ensure they’re selling their home for the best price possible. We’ll share seven tips to make the most of today’s hot seller’s market.


What is a seller’s market, exactly?

High buyer demand and low housing inventory create a seller’s market. As mentioned above, several factors have inspired the current housing sales boom:

  • Record-low mortgage rates

  • A pandemic-driven desire for more living and outdoor space

  • Inadequate inventory, partially due to the lack of building materials and labor slowing down new construction

A seller’s market often means bidding wars, higher prices, and faster sales for homeowners. And while this is all good news for sellers, you’ll still need to be strategic if you want to sell your home for the most money possible.

1. Cut your budget for cosmetic upgrades like staging and renovations

In seller’s markets, we encounter many clients who overinvest in getting their home “market-ready.” With fewer properties to choose from, eager buyers are more willing to overlook outdated interiors and cosmetic issues than they would in a buyer’s market where beautiful homes are a dime a dozen.

Don’t spend the money! If you insist on making any updates, go for carpet and paint because they are the cheapest repairs you can do to yield the most value for the price. If you put in a brand new kitchen, for example, you’re not going to increase your sales price by $10,000 because you renovated it.”

Here are some quick and easy ways to make your home more inviting without spending a lot of cash:

  • Paint the main living areas a neutral gray or beige.

  • Set a few pots of colorful flowers near the front door.

  • Store loose items in decorative bins.

  • Hide electrical cords and wires out of sight.

  • Put photographs, mementos, and other personal items away.

2. Plan your next move before you sell

In a seller’s market, homeowners are often pleasantly surprised to find their property sells much quicker than anticipated. When making plans to list your home, prepare for your next move at the same time. Pre-pack whatever you’re taking to your next home, and donate, sell, or toss whatever you don’t want. Clearing out the clutter will open up your room and make your home appear more spacious too!

You should also begin searching for your next home as soon as you’re ready to sell. If you haven’t started looking for your next home, have a backup plan in place in case your home sells quickly.

You may consider renting for a bit so you can take your time finding the right property. You can also negotiate a seller rent-back so you can remain in your home as a renter after you sell it.


3. Strategically price your home to encourage multiple offers

Even in a seller’s market where bidding wars are common, you need a nuanced pricing strategy to ensure you sell your home for the most money possible.

While it’s tempting to reach for the stars with a high listing price, note that overpricing your home could turn off informed buyers and leave your home sitting on the market. And even if a buyer agrees to a sky-high price, they may not be able to close if the appraisal comes in low since lenders won’t typically approve a loan larger than a property’s appraised value.

On the flip side, if you price your home too low, you might not sell your house for as much as you could given the hot market.

The goal is to find the sweet spot: a price that reflects a home’s fair market value based on the size, floor plan, and condition. Your real estate agent will round up recently sold comparable homes, or “comps,” in Competitive Market Analysis (CMA) to determine how much your home is worth in the current market.

Listing a home at around $10,000 to $15,000 below fair market value is a common strategy in a seller’s market to create a bidding war. It’s a good way to generate lots of offers and get a fast sale at or over the listed price. 

Buyers sense they are getting a good deal and are willing to put their hat in the ring, especially in a competitive seller’s market where there are fewer options to choose from. Just don’t go any lower than a price you would be willing to accept if you hypothetically only received one offer.

4. Make the most of a bidding war

Bidding wars are common in a seller’s market. With fewer options to choose from, buyers flock to desirable properties that check most of their boxes. As a seller, you’ll need to evaluate your offers and respond carefully to leverage the best deal possible.

Three ways to handle a multiple offer situation:

  • Accept the best offer. This works when an offer is head and shoulders above the rest. For example, say you receive a cash offer that’s significantly higher than the other offers which the buyers require financing. Not only is this buyer’s offer higher, but it’s also more likely to close smoothly without a lender involved.

  • Inform buyers of the competition and encourage stronger offers. Typically, real estate agents won’t disclose the offer amounts to competing buyers. Instead, they’ll inform all buyers that other offers are on the table and encourage them to submit their highest and best offer before a set deadline. Some buyers may include an escalation clause in their second offer, indicating that they’ll automatically increase their price above the best competing offer. Escalation clauses tend to stipulate the increments by which the price increases and how high the buyer is willing to go.

  • Respond to one offer with a counteroffer, and set the others aside until the buyer responds. A seller may opt for this strategy if they receive an outstanding offer but aren’t yet ready to turn away other offers. For instance, maybe you get an offer with an excellent price, but the proposed moving date doesn’t align with your plans. You’d want to counter to see if the buyer can accommodate before committing to the deal.

Thankfully, you don’t have to determine the best response on your own — your real estate agent will be by your side to help. 

5. Remember the highest offer is not always the best

Most sellers gravitate towards the highest offer. But we caution our clients that the highest offer is not always the best offer. Here are the main components of a strong offer in a seller’s market:

A cash offer

Even if a cash offer is not the highest, it can still be the best for a few reasons. When a buyer pays in cash, they don’t need to prove the home’s value to a lender, taking the appraisal out of the equation. Skipping this step is beneficial in a hot seller’s market where prices are rising faster than appraisers are willing to recognize — you don’t need to worry about a low-appraisal threatening the deal.

A cash offer also tends to speed up the sale. It takes an average of 46 days to close on a home loan. If you sell to a cash buyer, you can expedite your closing date by a month or more.

A large down payment

In Canada, the minimum down payment is 5% for properties up to $500,000, but some lenders may require more. As a seller, note that the higher the buyer’s down payment, the better. A buyer with a large down payment has to borrow less, reducing the risk they won’t qualify for their loan.

Few to no contingencies

In real estate, a contingency is a requirement outlined in the purchase agreement that must be met for the sale to close. If the buyer’s contingency is not satisfied, they can walk away from the deal with their earnest money. As a seller, you want an offer with few contingencies since these slow down the sale and act as “escape hatches” for buyers to back out.

The most common contingencies include:

  • Appraisal contingency: The home must appraise for an equal or higher value than the buyer’s offer for the sale to close.

  • Financing contingency: The buyer can back out of the deal if they are unable to secure financing.

  • Home sale contingency: The buyer only moves forward with purchasing the property if their own home sells.

  • Inspection contingency: The buyer requires a home inspection and may cancel the sale if the seller does not agree to complete or pay for necessary repairs.

An offer with fewer contingencies is less likely to fall through, making it more appealing. In a seller’s market, buyers are often more likely to remove contingencies, especially if they know they’re up against competing offers.

Buyer concessions

In a seller’s market, buyers may throw in concessions, or incentives, to encourage the seller to choose their offer. For example, the buyer may offer to cover closing costs that the seller would customarily pay.

Flexible moving date

In a seller’s market, sellers may sell their current home faster than they’re able to buy their next one. That’s when a flexible moving date or rent back comes in handy. Buyers willing to budge on this point and give the seller some breathing room to house hunt may just push their offer to the front of the line.


6. Anticipate appraisal issues if you accept a high offer

Issues with home appraisals can be common challenges that come with selling in a seller’s market. Pricing a home on the higher end of market comps is all well and good, but the home must appraise for equal or less value than the buyer’s offer in order for the buyer’s lender to approve the loan.

“What we’re noticing right now are agents and homeowners trying to push the envelope on value. The inventory is so low, and the demand so high driving prices up. But of course, lenders and appraisers are like, let’s pump the breaks — this seems too high for the area.”

When a property appraises below the asking price, there are a few options to address the gap between the appraised value and the sales price:

  • The buyer pays the additional funds out of pocket. A seller may offer to cover some of the buyer’s closing costs to free up some of the buyer’s cash to cover the difference.

  • The seller reduces the sale price to match the appraised value.

  • The seller and buyer cancel the sale and the seller puts the property back on the market.

  • The seller and buyer challenge the appraisal with a Reconsideration of Value.

Your agent can advise on what the best strategy is for your home sale:

“As a real estate agent, my job is to educate the seller as to when it’s smart to just put it back on the market or say, hey, this is the best appraisal we’re going to get, so let’s reduce, take it, and move forward.”

7. Hire a top real estate agent who understands the demands of a seller’s market

Choosing the right real estate agent is by far the most important decision you’ll make when selling in a seller’s market. While any agent can assist you sell your home, only a top agent can win you the best price possible.

They are going to fight for your property value. They know how to address the appraisers to get that value where it needs to be to achieve a good closing. We advise sellers to work with an agent who specializes in listings. With more than 20 years in the business, and more than 34 million dollars in closings last year, Island Homes Group knows from experience.


Waiting for the right time to sell? In a seller’s market, there’s no time like the present

Low inventory and high buyer demand make seller’s market conditions the ideal time to sell. With a bit of preparation for a quick sale, expert agent guidance, and patience to explore multiple offers, sellers can get the best deal possible for their property.


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I have sold a property at 1225 Tall Tree Pl.
First time to market in 34 years! Be welcomed to this gorgeous home with amazing views of down town victoria and the Olympic mountains. The second floor main living space is filled with natural light that cascades in through the numerous windows of the living room and dining room. Take in the panoramic mountain views or venture out to the spacious front balcony to take in the full beauty of your surroundings. Perched on top of a quiet hill, this home boasts two outdoor patios perfect for relaxing on summer nights and a large manicured lawn backing onto Knockan Hill Park. Plus a large attached garage that offers convenient covered entry and plenty of room for DIY projects or a workshop. Around the back of the house is a 1-bedroom suite in the lower level of this home, that is ideal for rentals or easily incorporated back into the house for inlaws or a growing family. The central location of this home cannot be overstated, its just perfect. Dont delay, floorplans online!
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I have sold a property at 326 Obed Ave.
Welcome to this charming 5 bedroom 2 bathroom beautifully updated character home, with a 2 bedroom suite with new carpet, updated bathroom, and many other touches with its own separate entrance, a large fully fenced back yard ready for kids and pets, perfect for enjoying the sunny days. The bright open plan kitchen and dining area is perfect for family dinners a massive deck ideal for entertaining, and then relax in the large living room with gas fireplace Centrally located this house is within walking distance to parks, schools, shopping, libraries, the Gorge waterway and is conveniently located on a bus route. Don't delay this great home will move quickly. Floorplans available online.
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Looking to buy a home in Victoria in 2021?

Follow these 5 simple tips to help you get your dream home with as few hassles as possible!



1. Don’t Rush the Process

It is important that you are very well prepared before going into a sellers market as a buyer. Have pre financing, deposit ready and all your paperwork together


2. Know your Max

Know your max financing limit. Sometimes with multiple offers you have the opportunity to increase your offer. It is important to know your absolute max


3. The Small Things

Look past the small things. Sometimes a house might check most of the boxes but look past the small things like minor renovations or paint or landscaping, as those are things you can tackle in the future


4. Experienced Agent

Work with an experienced agent. Having a great real estate agent can give you the upper hand in a seller’s market and help guide you on the right path to ensure you obtain the house that you want for the price you want. Their experience and market knowledge and negotiation will help you achieve these goals. 


5. Desireable Offer 

Submitting a great offer is one thing. But to also ensure that you maximize your potential by ensuring your offer includes a letter, a picture, terms and dates that work for the seller, and last of all put your best foot forward. 


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I have listed a new property at 409 866 Goldstream Ave.
Welcome to this top-floor condo at the Strathmore! Only steps to everything the Goldstream Village has to offer, this bright suite features a unique loft-style layout with over-height ceilings, a second-floor bedroom with ensuite, and an east-facing balcony allowing an abundance of natural lighting. The main floor has an open-concept floorplan with stainless steel appliances in the kitchen, powder room, and dining/living combo. In addition to in-unit laundry, a designated parking space, & pet/family-friendly, this suite has access to the rooftop patio - an uninterrupted oasis with all-day sun, overlooking the Bear Mountain hillsides and Mill Hill. Only a short drive to nearby lakes, the Westshore Town Centre, Costco, West Hills Stadium & Langford Lanes, and a short stroll to nearby parks and schools, the Strathmore is located in a popular, sought-after area and growing community!
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I have listed a new property at 32 909 Admirals Rd.
Bright One Level townhome in Admirals Gate! This charming, completely updated two bed, two bath home offers 1359 sq ft of gracious living space. Set well back from the road, this home is QUIET! There is a private SW facing balcony accessible from both the living room & primary BR. It is the perfect spot for relaxing & enjoying the evening sun! New flooring, Paint, trim and fully updated bathrooms make this a turn key unit. Also includes a single car attached garage and extra storage. Fantastic location close to the golf course, Shopping Center, Thrifty’s, pharmacy & shops. With direct access to Rail Trail, walk/ride downtown. 19+ & pet friendly!
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I have listed a new property at Lot B RALEIGH Ave.
Incredible opportunity to build your dream home! The 29,707 sq ft building lot is cleared, flat and full of sun. Power/hydro meter and a drilled well have been installed. This parcel borders the City of Port Alberni city limits, at the top of Argyle Street, and is Zoned as rural residential A1 within the Alberni Clayoquot Regional District.
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I have listed a new property at 1225 Tall Tree Pl.
First time to market in 34 years! Be welcomed to this gorgeous home with amazing views of down town victoria and the Olympic mountains. The second floor main living space is filled with natural light that cascades in through the numerous windows of the living room and dining room. Take in the panoramic mountain views or venture out to the spacious front balcony to take in the full beauty of your surroundings. Perched on top of a quiet hill, this home boasts two outdoor patios perfect for relaxing on summer nights and a large manicured lawn backing onto Knockan Hill Park. Plus a large attached garage that offers convenient covered entry and plenty of room for DIY projects or a workshop. Around the back of the house is a 1-bedroom suite in the lower level of this home, that is ideal for rentals or easily incorporated back into the house for inlaws or a growing family. The central location of this home cannot be overstated, its just perfect. Dont delay, floorplans online!
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I have sold a property at 651 Cornwall St.
Situated on a quiet, tree lined street with wide boulevards and sidewalks, this charming century home is the one you have been waiting for. Flexible layout includes 4/5 bedrooms, 4 bathrooms including a 1 or 2 bedroom lower suite. The current owners have already done all the heavy lifting (excavated the basement for better ceiling height, new foundation and basement slab, perimeter drain upgrades, roof, gas furnace, windows, rebuilt shed / garage, decks, exterior paint and more!) Extensive permit history available. Very rare for the era, an upper floor dormer was added to create a spacious ensuite bath. This is the perfect starting point for personalization and cosmetic updates to your taste. The lovely lot is fenced and private. Incredible location close to town, fantastic schools, and shops and services of all kinds. Easy to show, ask your agent today!
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I have sold a property at 3409 Karger Terr.
Perched atop Triangle Mountain, this custom-built executive home features panoramic, unobstructed views of Victoria, the Strait of Juan de Fuca, and the Olympic Mountains. The exterior of the home features tasteful, modern styling; inside there is a view from nearly every room. There is lots of space and privacy for a large family in this home—additionally, the bottom floor features a rental-ready 1 bedroom suite with private entrance. Other features include 6 bathrooms including a master ensuite with a jacuzzi soaker and walk-in tub/shower, formal dining room, large living room, a wet bar and lounge, well-equipped kitchen with eating area, multiple skylights, oak hardwood and tile flooring, 2 wraparound decks, and patio. Come admire the stunning views and see all this home has to offer!
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I have sold a property at 126 6971 West Coast Rd.
Uplifting Oceanviews at the gateway to the West Coast - Sooke Harbour Resort & Marina... offering a well appointed townhome with breathtaking views in an Oceanfront setting. Uniquely positioned in the heart of some of the best salmon fishing found on the West Coast of Vancouver Island. This 1060 sq ft 2 BR, 2 bath. townhouse comes completely furnished with Granite Kitchen open to adj Dining & LR with slider to deck & BBQ. Attractive view Master suite complete with 4 pc ensuite. Oceanfront recreational Real Estate to meet your needs - stay when you want or take advantage of the rental options you choose on site or rent it our yourself via platforms including Air BnB or VRBO etc.. This unit is a full ownership. Literally a 2 minute walk to world class oceanfront dining at the West Coast Grill with haute cuisine offered at Wild Mountain a slightly longer stroll with nature's own world renown Whiffin Spit close by. Strata fees incl. Hydro, Water/Sewer, Bldg Ins. Mgmt, Garbage p/u Maint.
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I have sold a property at 1277/1279 Haultain St.
Centrally located side by side revenue duplex bordering three streets providing 2 driveways and easy access throughout town. This is a rare find in Victoria. Each address has street access, one off of Garden St and the other off of Cedar Hill Rd allotting for easy 2 car parking or even up to 4 (one in front of each other) plus street parking. Easy bus and bike routes close by, located very close to the main thoroughfares but not on them offering a quiet location yet still convenient. This property has been well maintained by the current owners, perimeter drain work 6 years ago, roof 8 years ago, newer vinyl windows and bathrooms. Each side can easily be converted back into one unit for a two family dwelling. This is the perfect turn key revenue property offering great tenants and a well maintained property in a central quiet location in Victoria. Please check out the detailed videos and floorplans for more details prior to showing.
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I have sold a property at 10 300 Six Mile Rd.
Centrally located offering many outdoor activities and plenty of easy shopping at your doorstep. Just a short walk away is the Galloping Goose Trail, Thetis Lake, Six Mile Pub & the Casino. Six Mile Rd offers quick and easy access to the main bus routes, trails and highways catering to the active lifestyle. Just a short drive or bike ride away is golf, beaches, hiking trails, Costco and many stores. With hardwood floors throughout, a beautifully updated kitchen with stainless appliances, picture-perfect unobstructed Southern Ocean views, cozy gas fireplace and plenty of storage this home is sure to catch your attention. Let the sunlight flood in through the numerous strategically placed skylights while you enjoy the morning sun from your additional private balcony just off of the master bedroom. Relax in your large soaker tub included with the en-suite or enjoy any of the other spa-like amenities this gorgeous property has to offer. Videos, Floorplans & additional photos are available.
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