I have listed a new property at 825 Bexhill PL in VICTORIA.
Come home to this lovely 4 bedroom/3 bathroom home on Triangle Mountain. Inside you will find maple hardwood floors; an impressive custom Oak kitchen with double-wall ovens, 6 burner gas cooktop, granite countertops and more, perfect for the gourmet chefs! Off the kitchen there is a cozy family room with its own gas fireplace and breakfast nook, as well as a rear deck that is perched high above a 3 acre greenspace, perfect for wildlife and storm watching. The master bedroom with double vanity and jetted bathtub is a lap of luxury. Downstairs you will find a one bedroom suite, perfect for visiting family. The house also features a two-car garage,and a large heated storage area. The home has been upgraded with a heat pump, built in speakers and more! Come see all this home has to offer your family. Floor plans and virtual tours available, dont delay!
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I have listed a new property at 5 1536 Middle RD.
First time in the market in 28 years! Great location minutes from the heart of Town, this little gem has it all with all amenities near by. Meticulously maintained and well looked after since new. The layout is perfect for one level living with 2 big bedrooms and a very generous full ensuite bathroom. The open concept layout and orientation of the home allow it to be showered in natural light. Rare offering at a great price, don't delay floor plans online!
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I have listed a new property at 9937 Bessredge PL in SIDNEY.
Brand new, custom home! This 3 bedroom, 3 bathroom home is located on a quiet cul-de-sac and backs onto Swiftsure Park in a walkable area that is close to schools and amenities. Contains all the comforts and luxuries you expect in a new build including a ductless heat pump, bathroom toe-kick lighting, heated tile floors, hot water on demand, master bedroom with ensuite bathroom and walk-in closet, fireplace, attached garage, and patio. Come see all this house has to offer! Estimated completion for January 1, 2018
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I have listed a new property at 9935 Bessredge PL in SIDNEY.
Brand new, custom home! This 3 bedroom, 3 bathroom home is located on a quiet cul-de-sac and backs onto Swiftsure Park in a walkable area that is close to schools and amenities. Contains all the comforts and luxuries you expect in a new build including a ductless heat pump, bathroom toe-kick lighting, heated tile floors, hot water on demand, master bedroom with ensuite bathroom and walk-in closet, fireplace, attached garage, and patio. Come see all this house has to offer! Estimated completion of January 1 2018
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November Market Update

 

Hello again, everyone. Here is a market update for November 2017.

 

In October real estate sales experienced a slight up-tick from September (664 sales from 640), continuing a pattern of lowered sales numbers when compared to last year (735 sales in October 2016). Despite a slower market, average home prices continued to rise during the last year with the average price of a single family dwelling moving from $773,504 in October 2016 to $854,833.

 

Victoria Real Estate Board President Ara Balabanian is forecasting market stability in the coming months, with the provision that the new mortgage stress tests could give some buyers a sense of urgency:

 

In the coming months we expect to see less inventory on the market, because the year end changes buyer and seller behaviours, their focus shifts to holidays and winter weather. One unknown influence that may play on the winter market is the upcoming mortgage stress test. Some buyers may move their purchasing timelines forward to make their home purchases before the stress test on uninsured buyers (those with a down payment of 20 per cent or more) becomes required January 1.” (VREB.org)

 

So, what about the introduction of the mortgage stress test? The Office of the Superintendent of Financial Institutions’ new rules extend a stress test that was already in place for high risk mortgages to lower risk ones. Under the B-20 guidelines, uninsured borrowers will have to prove that they can withstand either a 2% rate increase on their mortgage or payments at the five-year average rate, whichever is greater. At the moment any buyer with a down payment of 20% or more is not required to buy mortgage insurance. Although the new rules officially come into effect January 1st, expect some federally regulated lenders to impose them before then. Practically speaking, this new rule could force buyers into a lower price range than they might previously have been qualified for, and squeeze out some buyers altogether. A mortgage broker we often work with has stated that some buyers who previously would qualify for an $800,000 mortgage might be downgraded to one at $600,000. Also, the market could heat up during November and December as buyers try to maximize their purchase power and sellers, especially those of more expensive properties, try to capitalize on a larger buyer pool.

 

As always, if you are interested in learning how the current market conditions affect you or your investments, would like a market analysis of your property, or if we can be of assistance in any way at all, please don’t hesitate to give us a call (250-886-8520) or send us an email (info@island-homes.ca).

 

Sincerely,

 

 

Island Homes Group

info@island-homes.ca

facebook.com/islandhomesgroup/

250-886-8520

4440 Chatterton Way

Victoria BC

 

V8X5J2

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I have sold a property at 9390 East Saanich RD in BRENTWOOD BAY.
This country-style home with suite below is located on a very large, 12,632 square-foot lot in a quickly-developing area. The house features 6 bedrooms and 2 bathrooms, large decks with green views, and lots of storage space. This property has serious investment potential and is located near Sidney, the airport, shopping, and amenities. Floor plans are available. Come take a closer look and see this property’s possibilities.
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I have sold a property at 123 4490 Chatterton WAY in VICTORIA.
This 2 bedroom, 2 bathroom condominium is set within the manicured grounds of quiet Broadmead Terrace. Located on the ground floor of its building, this spacious unit is ideal for an owner looking for ease of access and features a large garden patio. 4490 Chatterton Way is conveniently located within walking distance between both Royal Oak Shopping Centre and Broadmead Shopping Centre, and directly across the street from the walking trails of Rithet’s Bog. This condominium also features a large kitchen, crown mouldings, glass-fronted cabinets, a breakfast nook, a laundry room, a soaker tub in the en-suite bathroom, storage, and underground parking. Floor plans available online. Come discover what this property has to offer!
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