Sellers Market!

The number of solds showing on the market watch is from sales that went unconditional just before year end 2017. The new listing to pending ratio shows the percentage sales in the past week which is a 68% sales ratio. This means we are in a sellers market still. Overall listings are still at an all time low. Great market for sellers.
 
If you would like more information on the current real estate market please call or email me! 250-744-0775 briarhillgroup@gmail.com

Things to Check During the Weeks After Moving Day

When you purchase a new home, the most exciting day is closing day. That’s the day you take possession of the property and, in most cases, move in. But the process isn’t necessarily over. There are still some important details to take care of in the weeks and months after the move.

 

For example, it’s a good idea to make sure you’re getting all your mail. Ideally, you will have made arrangements with the post office prior to your move to have your mail redirected to your new address. However, that service will eventually expire. Here’s a tip: Introduce yourself to the new owners of your old property. Ask them if they wouldn’t mind holding any of your mail that has been inadvertently delivered to them and you’ll make arrangements to stop by periodically to pick it up. Chances are, they won’t mind.

Also in the weeks after the move, you should take care of any repairs or other maintenance issues that were identified before you purchased the home. In the busy days leading up to moving day and in the excitement of settling in, these issues are easy to forget. You don’t want them to become bigger issues later on.

 

These are the sorts of things I will help you navigate through. If you are thinking of buying or selling give me a call 250-744-0775.

Current Real Estate Market Statistics

Listings are extremely low, even for this time of year. Seasonally, we expect the listings to increase over the next few months, peaking in March. For those looking for homes, don’t be discouraged as the number of listings will increase over the next few months. For those who are thinking of listing, this is an excellent time of year to list and then plan for a long closing so you can take advantage of the increased listings from Feb-May. Get ahead of the competition.

If you are thinking of listing your home, I would love to work with you! Call or email, 250-744-0775 briarhillgroup@gmail.com

 

Don’t Forget Home Insurance

When you’re buying or selling a home, there are so many details to look after that it’s easy to miss something. One thing you don’t want to forget is insurance.

Once your property has sold, you’ll need to contact your insurance company to let them know the date that ownership of your property will be transferred (the “closing date”). They’ll arrange to cancel your insurance once you’re no longer the owner of that property.

If you’ll be taking possession of your new home, and leaving your current property vacant for a period of time, you’ll need to make sure both properties are insured. This may also apply to a condominium even if the unit is completely empty. (Contact your insurance company to ask about continuing liability coverage while discontinuing the insurance on contents.)

When you purchase a new home, don’t leave the insurance to the last minute. Contact your insurance company right away. Make sure they are aware of all the features of the new home that may reduce your premiums, such as alarms, and wired-in smoke detectors.

The Briar Hill Group provides you with a checklist of items to take care of when buying or selling your home. If you have any questions about working with us, call Jane at 250-744-077 or email briarhillgroup@gmail.com

Victoria Real Estate Market Strong to the End of 2017

 
A total of 462 properties sold in the Victoria Real Estate Board region this December, 1.9 per cent fewer than the 471 properties sold in December last year.
A grand total of 8,944 properties sold over the course of 2017, 15.8 percent fewer than the record breaking 10,622 that sold in 2016. 2017 sales came in at 21.7 per cent over the ten year average of 7,349 properties sold.
“Early in 2017 we discussed how the Victoria area housing market would be different than the record breaking year we had in 2016 and that over the course of the year we’d probably see a gradual return to a more balanced market. We did see evidence of this change come early in the year, as multiple offers and rapid price increases leveled out,” says Victoria Real Estate Board President Ara Balabanian. “However, the ongoing low inventory of properties for sale meant that buyers continued to experience competitive situations in high demand areas, and multiple offers were still a common occurrence as buyers negotiated in a tighter market. What we couldn’t anticipate were outside factors such as changes to mortgage qualifying rules that may have pushed people into the market early. The pending mortgage stress test in particular is likely to have caused much of the increased activity we’ve seen in November and December.”
There were 1,384 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2017, a decrease of 21.5 per cent compared to the month of November and 7.3 per cent fewer than the 1,493 active listings for sale at the end of December 2016. This is the lowest level of inventory for the area in the month of December since the statistic was tracked in 1996.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2016 was $753,900. The benchmark value for the same home in December 2017 has increased by 9.3 per cent to $823,800, and is slightly higher than November’s value of $824,600.
“Overall, the low inventory and the continued interest in Victoria real estate meant that well-priced homes were quick to sell in 2017. Moving forward, we expect to see more inventory come into the market, which will continue to move us toward a more balanced state,” adds President Balabanian. “We also expect housing prices to remain stable, without the increases we tracked in 2016, and anticipate steady slow growth. In markets like these, it’s important to enlist the services of a REALTOR® to help you navigate what may be your largest transaction ever.”
About the Victoria Real Estate Board – Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of Realtors. The Victoria Real Estate Board represents 1,374 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.
Stats will be posted on the VREB website this afternoon.

BC Property Assessments are now available!

If you would like to know what your house is currently assessed at click here!

If you are thinking of selling your house this year and would like a current market evaluation done by a professional, please call me 250-744-0775 or click here! I would love to work with you this year!

 

What to Look For, Room by Room

When viewing a home for sale, many buyers look at the property from a “macro” perspective. They ask themselves questions like: “Is it large enough?”; “Are there enough bedrooms?”; “Is it in a nice neighbourhood?” While those questions are important, it also pays to consider a potential new home from a “micro” perspective.

Here are some things to consider:
Living room and family room. Are they large enough to fit all the furniture? Are the rooms conducive to family get-togethers and entertaining? Do you need a separate living room and family room?
Kitchen. Is it important to have enough space to eat comfortably in the kitchen as well as the dining room? Does the kitchen have all the cupboard and other storage space you need? Will your fridge fit?
Bathroom. Is the main floor bathroom uncomfortably small? Does the ensuite bathroom have all the features you desire, such as a large tub and/or separate shower? Do you need double sinks?
Bedrooms. Is the master bedroom large enough to fit the bed and other furniture? Does it have the closet space you need? Are the other bedrooms large enough for your needs? (It’s a good idea to get the measurements of these rooms as it can be difficult to judge measurements during a viewing.)
Storage space. This is particularly important if you’re shopping for a condo. Does the storage space or locker have the space you need?
Closets. Are there enough closets for your needs? Is there a linen closet?
Garage. Homeowners use the garage for more than just cars. If you plan to use this space for storage or hobbies, check that the garage will be suitable for those purposes.
Want more tips on selecting your next dream home? Call me today 250-744-0775 or CLICK HERE to get started!

 

3 Story For Sale in James Bay, Victoria

Photo Link

•  1692 sqft , 3 bath , 1 half bath , 3 bdrm 3 story CAD1,348,000 .
MLS® 386247

RARE OPPORTUNITY! Brand new home and ready for you to move in! Executive James Bay home just steps from Victoria’s beautiful inner harbor, Fisherman’s Wharf, and Dallas Road! No detail has been overlooked in this 1692 sq ft home boasting exquisite custom finishing’s throughout and hot water on demand. The chef’s kitchen is luxury designed with custom cabinetry, marble backsplash, quartz counters, high-end SS appliance pkg, inc. 5-burner gas range. Engineered Oak hardwood, gas fireplace in living room. Gorgeous 14ft vaulted ceilings in the master with spa-like 5 pc ensuite, and a Juliet balcony with views of the Inner Harbour sky line! Enjoy your lovely, professionally landscaped back yard and deck, equipped with fittings for a gas BBQ. The lower level offers a 3rd bed, bath & a spacious rec room. You deserve this incredible home nestled in its peaceful, spectacular location!

Property information

What was said!

“Douglas King from the Briar Hill Group is an invaluable skilled Realtor. The challenge on the agenda was the sale of a
commercial heritage eight suite house, which sold for more than the listed asking price. I could
not be more grateful for the hard work, dedication and time Doug spent getting a qualified and
successful buyer. He was totally knowledgeable on the sale property, attended all showings
and kept us informed in every aspect of the progress. Doug was respectful and courteous to all
the tenants and prospective buyers. Doug gave a quality of service and guidance that exceeded
expectations. I highly recommend Doug to provide professional service as a Realtor.”
R & L Dunning

How Long Does it Take to Find a New Home?

 

If you’re planning to look for a new home sometime in the future, you may be wondering how long the process will take. How much time should you set aside for viewings? How many of the listed homes should you see?

One factor that impacts the home shopping process is how clearly you know what you want.
For example, if you’re certain you want a three bedroom backsplit, in an upscale neighbourhood, then the process is going to be fairly simple. You’re just going to view properties that closely meet those criteria.

But if you’re the kind of person who simply says, “I’ll know it when I see it”, then you’ll need to look at several homes on the market. That means carving out plenty of room in your schedule for viewings.

As your REALTOR®, I can help you understand what’s available on the market and which homes are worth seeing. I can also help you determine how long the process will likely take, and show you ways to make the process go more quickly and smoothly.

If you would like to receive current listings please call or email me and I will set you up on your custom search for your new home! 250-744-0775 or BriarHillGroup@gmail.com