Island Homes Group : RE/MAX Camosun : Archived blog posts for : August 2022 : page 6

Should your next revenue property be a short-term rental?

Posted on August 5, 2022 by Agustin Torres

Being a landlord or owning commercial property isn’t the only way to get passive income through real estate. Short-term rentals are becoming more and more popular because they’re earning the big bucks too!

Say that you’re looking at owning a property in a scenic location. You can easily outfit it for vacationers to earn more than you would with a long-term rental. Bonus: you can vacation at your property in the off-months for basically free!

But short-term rentals can be for more than just vacations. You can also look at tapping into a niche for remote workers and digital nomads, who are always looking for cool places to land and do their work. There’s also definitely a market of people looking for a nice place to relax and recharge with more privacy than a hotel can give them.

Short-term rentals can be a great way to earn passive income without the baggage of becoming a landlord.... But..... there is more to it than just that ! It's important to chat to your accountant and know the municipal rules around short term rentals so that you don't end up in hot water!!

If you think a short-term rental could be the right real estate investment strategy for you, just send a DM or give us a call.

Island Homes Group

David Silletta *PREC 250.888.6924

Agustin Torres *PREC 250.886.8520

info@IslandHomesGroup.ca

www.IslandHomesGroup.ca⁠

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I have sold a property at 992 Ariane Pl in Langford

Posted on August 5, 2022 by Agustin Torres

Posted in La Olympic View, Langford Real Estate

I have sold a property at 992 Ariane Pl in Langford.

See details here

This well crafted home is located in a quiet cul-de-sac that backs the forested green belt to give you added privacy. Walking through the front door, you enter into the bright open concept kitchen and living area with generous 9ft ceilings. In the designer kitchen you’ll love the island/breakfast bar with seating for four. The Kitchen also features a gas range, massive walk-in pantry, and stainless steel appliance package. On the main floor you’ll also find sliding glass doors that open onto the back patio and out to the lush backyard and the nature belt. Upstairs, there are 3 spacious bedrooms, the open office, and a laundry area. The primary bedroom has a walk in closet and boasts spa-like ensuite with heated floors and a massive walk in shower. This home is not only beautifully built, it’s also in a great location, within walking distance to Olympic View Golf Course, Red Barn Market and many other amenities of Latoria Walk.

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Why Choose Vancouver Island?

Posted on August 4, 2022 by Agustin Torres

Why Choose Vancouver Island?

Vancouver Island is the largest island on Canada’s west coast. It is surrounded by natural beauty and is a beautiful place to call your new home. Widely recognized for its warm summers and temperate winters, making Vancouver Island a year-round playground of activities for all ages. Add to this, near year round beach days, and some of Canada’s best hikes within day-trip range, and it’s easy to see why Vancouver Island draws so much attention.

Our specialized agents at Island Homes Group, RE/MAX Camosun look forward to helping you find the home you have been dreaming of in beautiful Victoria BC!

Island Homes Group

David Silletta *PREC 250.888.6924

Agustin Torres *PREC 250.886.8520

info@IslandHomesGroup.ca

www.IslandHomesGroup.ca⁠

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August 2022 Victoria Real Estate Market Update

Posted on August 4, 2022 by Agustin Torres

Shift in Victoria Real Estate market brings more time for buyers and sellers

We'd previously indicated a shift in the local housing market. This continued be the case in July as sales dipped, and we saw fewer listings come to the market, with more of the existing inventory remaining for sale. This slowdown means a calmer and more friendly environment with time for decision-making, which benefits sellers and buyers and will be a relief to many

During a changing market like the one we see now, it is more important than ever to have an expert on your side - whether you are buying or selling it's a great time to give us a call.

Victoria Real Estate Stats for the Month of July:

- A total of 510 properties sold in the Victoria Real Estate Board region this July, 38.9 per cent fewer than the 835 properties sold in July 2021 and a 16.7 per cent decrease from June 2022.
- Sales of condominiums were down 39.4 per cent from July 2021 with 172 units sold.
- Sales of single family homes decreased 35.9 per cent from July 2021 with 254 sold.

Where is the market headed?

It seems that so far regular buyers have pulled back the most, while luxury buyers seem to remain strong and the jury is out on investors. Regular buyers are the bulk of demand and affordability needs to return to the market for a true recovery, but that could happen slowly over years. Right now the biggest threat to market stability is a big increase in new listings, whether it’s from investors bailing out or regular buyers that cannot afford the increasing payments from rising interest rates. The probability of that is not overly high, but new listing levels are worth watching closely.

Featured Development

MOSAIC

Choose Mosaic and make the move into a home where you love where you live. Find the perfect balance of adventure and relaxation in Parksville. Starting in the mid-$300’s and with your choice of 1, 2, and 3-bedroom suites, Mosaic is located only 0.5km from the beach.

Three buildings, 137 units.
All buildings are pet friendly.
Located at 140 Jensen Ave. W., Parksville, BC.
Current completion date is set for Fall of 2023

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New property listed in Vi Downtown, Victoria

Posted on August 3, 2022 by Agustin Torres

Posted in Vi Downtown, Victoria Real Estate

New property listed in Vi Downtown, Victoria

I have listed a new property at 409 1149 Rockland Ave in Victoria.

See details here

TOP FLOOR southeast facing home with views of the Olympic Mountains in the popular Chateauneuf building. This bright and spacious floor plan offers 1200 sq feet of living space with 2 bedrooms, 2 bathrooms, large living room and separate dining room. You will also find an updated kitchen and bathrooms, full size newer washer/dryer and an oversized deck overlooking the park like setting and mature trees. The building is well cared for with common amenities such as; Roof top deck, fitness room, workshop, library, event room and bike storage. This fantastic location can't be beat just steps to Cook St. Village, Downtown, Dallas Rd and Government house. Secured underground parking and separate storage included. Act fast as this one won't last!

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Should your next revenue property be a short-term rental?

I have sold a property at 992 Ariane Pl in Langford

Why Choose Vancouver Island?

August 2022 Victoria Real Estate Market Update

Shift in Victoria Real Estate market brings more time for buyers and sellers

Victoria Real Estate Stats for the Month of July:​​​​​​​

Where is the market headed?

Featured Development

MOSAIC

New property listed in Vi Downtown, Victoria

READY TO GET STARTED?

Victoria Real Estate Stats for the Month of July: