Victoria is a great city for real estate investors. We have one of the lowest vacancy rates in Canada, which means that rental properties are in high demand. Victoria is home to UVIC, Camosun, and a large Navy Base which means that there are many qualified renters in the market.
There are always fabulous deals to be found which can result in a positive cash flow for investors (especially in our current real estate market). If you’re thinking about starting a real estate rental portfolio I can send you my top 10 list of available condos on the market that yield great rental returns. In the meantime enjoy this video all about obtaining investment property financing.
Email me at Christina@ChristinaCarrick.ca
One issue of primary concern to all homeowners trying to sell their homes is, “How do I make sure my property is seen by the maximum number of people?” Of equal importance probablyshould be, “How do I make sure the maximum number of people who are motivated or likely to buy my home see my property?”
The answers to both questions lie with the real estate professionals you entrust to sell yourhome and the extensive network of listings they use to access properties throughout the Greater Victoria area. The real estate professionals are your REALTORS® and the network is called the Multiple Listing Service® (MLS®). REALTORS® are experts, trained and licensed in the field of real estate, who help people buy and sell homes. All REALTORS® in the Victoria area are members of the Victoria Real Estate Board which operates the MLS® system.
What is MLS®? – The Multiple Listing Service® is best described as a co-operative marketing system to ensure maximum exposure of properties for sale. Fundamentally, it is a central registry of properties used by REALTORS® to match buyers with properties for sale. Most homes sold in Canada are sold via the MLS® systems operated by real estate boards across the country.MLS® is a sophisticated computer database of properties indexed by price, location, type ofhome, number of bedrooms, amenities and so forth. All properties listed on the Victoria Real Estate Board’s MLS® system can be viewed on the Internet at www.mls.ca.
The Advantages For Consumers – The major benefit of MLS® to consumers is that it allows the REALTOR® to use his or her skills to full advantage. REALTORS® are experts in determining what a potential buyer wants in a home — and a large part of the REALTOR®’s job lies in finding properties that meet a buyer’s needs. Using the MLS®, a REALTOR® can search the database for homesthat suit budgets, location preferences and family requirements, and quickly put together a short list of suitable homes. This means that when it comes to view homes in earnest, buyers know exactly what homes they want to see, what their options are and what types of properties the market has to offer.What’s good for the buyer is also good for the seller.
The main obstacle for any seller is to find qualified, motivated buyers and the only way to overcome this is to match your home with the requirements of as many potential buyers as possible. The MLS® system cuts through the complexities, exposes your property to people most likely to purchase it and makes sure you won’t waste your time showing your home to those who are not truly interested.
So, when you have made the decision to sell, make sure you ask your REALTOR® about an MLS® listing. It could be that your REALTOR® will already know a number of potential buyers, but listing your home on MLS® will ensure wide exposure of your home to a broadrange of interested people.
Beyond the tall privacy hedge lies a free flowing, SUNNY, garden level design that is simply SPECTACULAR. 2 CATS WELCOME HERE in this Rockland’s 1992 character conversion. The romantic fireplace anchors the main living area that is very QUIET & feels serene as you sit on your rear garden patio. New installation of elegant hardwd floors in Liv/Din room, hallway & open den/office area. Enjoy 2 bedrooms, LARGE den (could be converted to a bedroom), plus a oversized laundry room, exterior storage space, quaint kitchen, brand new S/S appl, mostly on the QUIET SOUTH SIDE of this char residence with only 5 caring home owners, 1 parking spot, & new roof. A must-see characther conversion!
More photos and floorplan available here
We started Home for the Honeymoon because we wanted to find a creative solution to a modern day problem. Home for the Honeymoon was created with the goal of helping contemporary couples realize the big dream of owning a home more easily and efficiently.
This past Saturday we attended our first Bridal Show and would like to thank everyone at The Victoria Bridal Expo for making our first wedding show such an amazing success!!! It was so much fun to meet all of the vendors in Victoria and especially, all of the brides who are planning their nuptials for the 2012 wedding season!
Our booth came together pretty well… We must say so ourselves!!!!
For more details on Home for the Honeymoon visit our website or checkout these top 5 reasons to use Home for the Honeeymoon
We are happy to announce that our listing in 365 Waterfront has sold – and we have another happy client! 365 Waterfront is one of my favorite buildings in Victoria, BC and I would recommend the development for all those buyers looking for amazing quality, an active lifestyle, and great location. Here is a video I shot on-site to introduce the building. Although our listing is now sold, I have plenty of information available about the other units listed for sale, and having worked for CONCERT properties (the developer) in the past I understand the development and know all the floorplans and features. If you would like more information about available units, pricing, and floorplans please email Christina@ChristinaCarrick.ca or call 250-857-6045.
A Bank Representative is employed by a single financial institution and is promoting that institution’s mortgage products.
A Mortgage Broker is licensed by the Province of BC and can offer the products of many different institutions including Banks, Credit Unions and Mortgage Companies. Brokers attempt to match the clients’ circumstances with the best options available from the full spectrum of lenders.
What’s a Virtual Bank?
It’s a term that has been coined to describe Mortgage Companies that do not have large public branch networks. They are Canadian Companies or Banks that may have Canadian ownership (like Canadian Western Bank) or international ownership (like ING Direct). These companies have lower overhead than many Banks and pass on the savings in the form of lower interest rates.
Mortgage Brokers often recommend these institutions to their clients to help them save money. These lenders often offer better prepayment options and lower penalties than the Banks while still providing full portability. Clients are offered the choice of one of these lenders or one of the large traditional Banks.
Some of these non-traditional lenders have been operating in Canada for 20 years or more, and have more mortgages under administration than many branch-based financial institutions. Many of these companies raise the money they lend by using the Canada Mortgage Bond program. This means that the lender pays to protect the mortgage with an insurer like CMHC. This provides an extra level of protection that isn’t always present with the large Canadian Banks.
The best advices when looking for a mortgage … carefully examine all the choices available. Meet with a mortgage professional and compare the features of mortgages offered by several different institutions. You shop carefully for your daily household needs. Shop even more carefully for your mortgage!
For more information about the benefits of working with a mortgage broker, or to meet for private consultation to assess your needs please contact Liz Prins at Liz@MortgageCanada.com or visit www.mortgagesbyliz.ca
Here are my top 4 tips for a first time buyer taking steps to get ready to buy their first home!
1. Get Informed – learn about home ownership and whether it`s right for you. Some great resources are available at CMHC (Canadian Mortgage and Housing Corporation) PLUS I we are always available to take you out for coffee to talk more about the realities of home ownership and the steps involved just email, tweet, facebook or call!`
2. Talk to your bank or mortgage broker (or both) – setting your budget is key. Brokers and bankers are very helpful in teaching you about mortgages and coaching buyers through the process of applying for a loan. For a list of pre screened brokers and bankers at all major banks in Victoria just get in touch.
3. Find a good Realtor to represent you, and help in your search – Realtors are key in the buying process, we educate buyers about the current market, show properties, answer all questions about available properties, negotiate the sale, do all the paperwork, and help ever step of the way. I always encourage clients to interview their Realtor and I will make sure to post some great interview questions soon. If you want a copy of them early then just email, tweet, facebook or call.
4. Start shopping!! – this is the FUN part and can be a long process or a relativity quick one depending on the buyers needs and personality.
If you have any questions we`re always available and happy to connect.
An EnerGuide rating shows a standard measure of your home’s energy performance. It shows you (and future buyers) exactly how energy efficient your home is.
The rating is calculated based on standard operation assumptions so that you can compare the energy performance of one house against another.
The home’s energy efficiency level is rated on a scale of 0 to 100. A rating of 0 represents a home with major air leakage, no insulation and extremely high energy consumption.
A rating of 100 represents a house that is airtight, well insulated, sufficiently ventilated and requires no purchased energy on an annual basis (National Resource Canada)
Luckily this home at 1270 Oceanwood in Victoria BC is rated 85 and is a ‘built green platinum’ home – meaning it’s super efficient and available for sale for $895,000. More info here.
Vancouver, BC – June 30, 2011.
The British Columbia Real Estate Association (BCREA) released its 2011 Second Quarter Housing Forecast today. BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 5 per cent from 74,640 units in 2010 to 78,200 units this year, before increasing a further 3.1 per cent to 80,700 units in 2012.
“Home sales will post some modest gains over the next two years,” said Cameron Muir, BCREA Chief Economist. “However, positive housing fundamentals like job growth, rising wages and an expanding population base will be somewhat offset by higher borrowing costs over the next eighteen months.”
“Following a decade where unit sales broke all records, consumer demand over the next few years will be relatively moderate,” added Muir. The ten-year BC MLS® residential sales average is 87,000 units. A record 106,300 MLS® residential sales were recorded in 2005.
Chelsea is one of Concert Properties newest concrete and steel condos in beautiful Victoria. Concert is one of Canada’s most decorated developers and this building reflects the developer’s commitment is quality. Chelsea is a low rise building with an intimate collection of only 66 homes, and is located in Fairfield at 999 Burdett.
The building seamlessly integrates with the character of the neighborhood, and is surrounded a beautiful heritage brick wall. The majority of the suites offer 2 bedrooms and a den. This is truly one of Victoria’s most desirable condominiums, and the perfect choice for those looking to downsize and simplify their life. For up to date pricing, and availability in the building please get in touch.
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