Spring Market Update 2021

It was one of the busiest February on record for Victoria’s real estate market with 836 unconditional and completed sales. That shatters the previous all-time record which was 780 sales in 1992. Runner-up was 772 sales in 2016. Record High Prices & Purchasing Activity We’ll Victoria ignored it’s winter hibernation this year. Real estate buyers […]
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How to Write Competitive Offers in a Hot Real Estate Market

Victoria is amidst a severe supply shortage in the single-family home market. Listings are down nearly 30% and demand is way up when compared to the same period last year. The real estate board recently stated, “This represents the lowest inventory of active listings at month-end in at least the last 25 years”. It is […]
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Oak Bay seeks to finalize regulations on secondary suites

At last Monday’s (Jan 11) council meeting, Urban Systems presented the council with a draft strategy on policy options for secondary suites in Oak Bay. The draft strategy proposed a spectrum of options with variables such as parking requirements, permissible zoning, minimum lot sizes, and owner-occupancy requirements. Unlike the recent news in Saanich, secondary suites […]
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TOP 10: Victoria Multi-family Investment Sales of 2020 under $1,000,000

In no specific order, we have selected our favourite 2020 multi-family sales under $1,000,000 in Victoria. 2103 Fernwood Road, Victoria 2103 Fernwood is a charming Heritage designated home – now converted to a triplex revenue property. The main house features a 3-Bed unit and a 2-Bed unit. The carriage house to the rear of the […]
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New Industrial Park announced by PC Urban – Colwood BC

PC Urban Properties of Vancouver has submitted a proposal to construct three industrial-commercial buildings on the former Galaxy Motors Colwood property. The site at 1764 Island Highway rests opposite of Juan de Fuca Rec Centre and represents 4.82 acres. Totaling 135,000 saleable square-feet, the proposed buildings will consist of industrial-commercial uses with office space on […]
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Depreciation Report Funding Scenarios – Which one did the strata choose?

I often get asked; which of 3 funding scenario did the strata choose? This question inevitability comes up when working with condo purchasers. They often don’t like what I have to say – none of them. The depreciation report is a provincially mandated report that does a review of the physical and financial health of […]
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Impossible to build affordable housing

Why don’t developers build affordable housing? The most common misguided refrain I hear in debates about housing affordability is the following:  The problem is that these developers aren’t building any affordable homes, only luxury. They need to build homes that working-class people can afford. Imagine if we asked the same thing of Ford or Toyota. […]
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Top 10 Deals of 2020

Greater Victoria secured hundreds of millions of investment dollars and investment activity despite the headwinds of the COVID-19 pandemic. The Westshore communities (Langford, View Royal, Colwood) continue to shine as an active hub of development and growth. The province also stepped up as a top buyer this year with the acquisition of properties for affordable […]
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Listen To What Your Clients Want

I’ve been working a number of condominium and townhome buyers this winter. When working with a buyer, you get to spend a lot of time together. It’s a team effort of hunting, qualifying, and organization. I was surprised when two clients revealed to me their past experiences with REALTOR®. One client recalled how upset she […]
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November Heats up

For the 5th month in a row, Victoria’s residential real estate has continue breaking records. November closed just shy of 800 sales. We came close to an all time sales record from 1989. Record low interest rates, tenants making the move to home ownership, and an increase in out-of-town buyers. I think the market has […]
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