You Have The Power To Save Energy
June 4, 2010
http://www.youtube.com/watch?v=6Eg_SEAnE-M
Why Buy Rather than Rent?
April 20, 2010
When you’re thinking about buying your first home, it’s essential for you to be confident in your decision to buy instead of rent. However, you may not know about the many great reasons to buy a home! Here are just a few of them:
Smart investment
When you invest in a home, it offers the possibility for appreciation in value. The equity becomes yours when you’re still paying off your mortgage. You even get to live in it while your investment matures.
Tax advantages
Since both mortgage interest and property taxes are tax deductible, homeownership can save you significant amounts of money every year.
Planned housing costs
You decide how much you spend on your home, including repairs and improvements. Unlike renters, homeowners with a fixed-rate loan can lock in their monthly housing costs.
Improvements to your taste
You can choose which improvements to make your own property, such as a deck, kitchen remodel, or new paint, instead of needing permission from your landlord.
If you have more questions about making the decision to buy a home, please feel free to call or email.
Changes to the rules governing mortgage loans and lending requirments
February 22, 2010
Check out the attached article from Mullin Demeo (law firm in Victoria BC)
2010-federal-changes-to-mortgage-financing-requirements
HST Update
January 21, 2010
2009 - A Year of Recovery for Victoria Area Real Estate Market
January 11, 2010
Last year was marked by a surprising and strong recovery for the Victoria area real estate market following the slowdown in 2008 and the early part of 2009. Total sales of homes and other properties rose by 24 per cent compared to 2008 while the value of all property transactions through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) system rose over 20 per cent to nearly $3.8 billion.
Victoria Real Estate Board President Randi Masters says the strength of the recovery came as a welcome surprise, “Given the significant world-wide economic downturn we were very pleased to see the real estate market recovering so quickly. With interest rates expected to remain low in the coming months, we are anticipating a strong and balanced market in the coming year.” Masters noted that while sales rebounded strongly last year, overall average prices showed little change compared to 2008. The overall average price for single family homes declined by less than one per cent, condominium prices declined by less than three per cent and townhome prices remained essentially unchanged.
Masters added that December saw a normal decrease in sales compared to November with some minor fluctuations in prices. The average price of single family homes in Greater Victoria last month was $651,316. Sixteen sales of over $1 million, including one sale in Central Saanich of over $5 million affected the overall average. The six-month average was $601,237 while the median price was significantly lower at $555,000. The average price of all condominiums sold in December was $345,907; the average for the last six months was $324,919 while the median was $289,000. The average price of all townhomes sold last month was $477,998; the six-month average was $450,305 and the median was $422,500.
MLS® sales last month included 246 single family homes, 115 condominiums, 44 townhomes and 12 manufactured homes.
Masters noted there has been a substantial decline in the number of properties available for sale, “As of the end of December, there were 2,557 properties available for sale — down 33 per cent from a year earlier.”
