Two bedrooms, two bathrooms, with views of the Sooke foothills along with city views from this bright west facing top floor unit! On the quiet side of the building this large unit offers an awesome layout with spacious living room featuring great separation between bedrooms, in-suite laundry, lots of closets through, and a large balcony perfect for your barbeque. Master bedroom features large windows, ensuite, and walk-in closets! Newer laminate flooring, trip, paint, closet doors, countertops in bathrooms, dishwasher, and air conditioning unit. Great location, close to amenities and central to bus routes. Thriftys across the street!
Do not miss this quiet cul-de-sac home backing onto Thetis Lake Regional Park in a lovely subdivision of View Royal, steps to Highland Pacific Golf Course. Pride of ownership is evident as you enter this beautiful custom built one owner residence with park views from kitchen, living, and bedrooms. A fireplace draws you into the inviting living room which adjoins the gourmet kitchen and eating area. This superb home boasts 3 huge bedrooms, 4 bathrooms, large rec room, and tons of storage. Great privacy with a south-west facing deck. When you are ready to go back indoors you will find a master bedroom fit for a king size bed! Hiking trails, playground and Galloping Goose nearby.
Lot Size SqFt:
Bright and beautiful new condo in one of Victoria’s newest buildings! This one-bedroom unit includes granite counter tops, engineered hardwood floors, and modern frosted doors. This Euro-style layout is celebrated for its ability to have functionality while maintaining practicality—evident in the floor plan. The kitchen offers plenty of counter space for cooking or entertaining, including new stainless steel appliances.
Listed by Marko Juras and SOLD!
You can have it all: bright, luxurious & sophisticated west facing condo on the 6th floor of the newest concrete building downtown! Floor to ceiling windows in this one bedroom unit offer abundant natural light and views towards downtown including a view of the clock tower. The efficiently designed living space offers a living room and island-style kitchen, 9-foot ceilings, and a spacious and bright balcony. The designer kitchen has stainless steel appliances, wood veneer cabinets, and granite countertops. This unit comes with a storage locker and bicycle spot. Common areas include spectacular roof top and media room adjacent to an outdoor terrace with barbecues! No HST applicable. This unit does not come with a parking spot.
More information on the Bayview Promontory!
April 3, 2012
VICTORIA, BC – Single family homes sales have risen 17% since last month, while the six-month average price is up 1% to $599,551. The average price of a Greater Victoria single family home in March 2012 is $640,553 up from $579,985, but is affected by the sale of two homes over $4 million. Compared to March 2011, active listings in this category are up 5% to 1,858, while sales are down 7%.
Sales of condos and townhomes are flat, compared to February 2012, while down significantly from 12 months ago (17% and 15% respectively). Condo prices are unchanged, while townhomes are 1% lower than March 2011.
“With softer prices, buyers have been looking at houses,” says Carol Crabb, President of the Victoria Real Estate Board. “That is now being reflected by the six-month average price increase. We predicted a flat market in January, and so far that is what we are experiencing.”
She also believes sales activity was affected by poor weather and many families travelling over the two-week spring break. “REALTORS® tell me many clients took the time for family vacations,” Crabb adds.
With a total of 4,274 active listings, properties on the market have edged up from last month (3,977 active listings at February 29, 2011). Increased supply levels reflect typical spring activity as seen year over year.
Live en vogue at the Vogue. This restored heritage building is the perfect combination of history and character, and luxury and convenience. Soaring ceilings, exposed wood beams, hardwood floors, and brick are just some of the features this gem showcases! This loft offers spacious living—including a designer kitchen and open living room—in the heart of the capital city. Your private patio is great for catching some sunshine and entertaining—never watch the Santa Claus Parade cold again! Close to everything downtown, including bus routes. Storage locker and secured underground parking. Remaining 2-5-10 warranty and no property taxes until 2016! Modern, yet classic; City-living, yet spacious. Strike a pose, Strike a pose, Vogue, Vogue, Vogue. (Copyright Madona 2006).
Lot Size SqFt:
Development potential on this 6600 sq.ft. lot. Excellent location close to amenities and downtown. Sold “As is”/”Where is.” 2636 & 2638 Shelbourne are also for sale.
Commission @ 2.5% + HST = $11,116
Compare @ 6% 100k + 3% Balance + HST= $16,699
Commission Savings with Marko = $5,583
Development potential on this 6600 sq.ft. lot. Excellent location close to amenities and downtown. Sold “As is”/”Where is.” 2636 & 2642 Shelbourne are also for sale.
Commission @ 2.5% + HST = $11,228
Compare @ 6% 100k + 3% Balance + HST= $16,834
Commission Savings with Marko = $5,606
Development potential on this 6600 sq.ft. lot. Excellent location close to amenities and downtown. Sold “As is”/”Where is.” 2638 & 2642 Shelbourne are also for sale.
Commission @ 2.5% + HST = $11,200
Compare @ 6% 100k + 3% Balance + HST= $16,800
Commission Savings with Marko = $5,600
What is a presale?
Presales generally refer to developments being offered for sale prior to completion of construction (Presales can be offered prior to start of construction and/or during the construction period). Examples in Victoria include the Bayview Promontory, Mondrian, Era, and Sovereign.
What are the advantages to buying a presale?
– The main advantage would be the potential increase in value prior to the completion of construction. Essentially, you put down a deposit (5% to 20% depending on the development) and hope to watch the value increase before you complete on the condo. During this waiting period you typically do not have to take on a mortgage, strata fees, or property taxes. Example, in the summer of 2009 I personally purchased a 533 sq./ft. south facing unit at the834 (Chard Development) for $198,900. On completion (end of November, 2011) the condo was worth approximately $240,000 to $250,000 with a similar BC assessed value. My deposit was only 5% or less than $10,000; therefore, you can see that the return on investment was very attractive at the834.
– Brand new home – there is an appeal to a lot of buyers to move into something that has never been lived in before.
– Latest in construction, design and technology. For example, the Bayview Promontory has a well-designed kitchen with a built in TV (yes, the TV is included), and the Sovereign has a car elevator and pretty awesome rooftop area.
– More choice of units, floor plans, floors, etc. Early on during pre-sales is also when typically the units with the best pricing/value are bought.
– The construction period can allow many first time buyers to save more money for the down payment prior to completion, and it can give retired buyers enough time to prepare for the downsize from a larger home.
What are the disadvantages to buying a presale?
– The main disadvantage would be the potential decrease in value prior to the completion of construction. For example, you enter into a contract to buy a presale for $300,000 and on completion it is only worth $270,000. Prices don’t always go up with pre-sales so buy carefully!
– Delays in construction: most presale contracts have delay clauses which allow the developer to be up to a year late (varies with contracts) on the estimated completion date. So, you might buy a pre-sale with an anticipated completion date of 2014 and it might take until 2015! Time delays can occur due to whether, labour shortages, supplier problems, inspection problems, etc.
– Your deposit is out of your pocket. Although it is protected by the Real Estate Development Marketing Act you have opportunity costs (you could potentially invest your deposit instead of having it locked up for up to 3 years while you wait for completion).
– Changes in floor plans, finishing, etc. The disclosure statements are generally very broad the developer typically reserves the right to change appliances, vary the floor plan size by a small amount, etc. For example, in the disclosure it will typically specify that every unit or certain units come with a storage locker; however, the size of the storage locker may not be specified. In this type of scenario you are at the mercy of the developer – and hopefully they have a good reputation
The Era will be located on Yates Street; whereas, the showroom is on Humboldt. The developer behind the project is Concert and prices at this project will start from $198,900 including taxes.
Standing outside the Mondrian showroom. The Mondrian is a 10 story concrete building under construction at the 1090 Johnson (corner of Johnson and Cook). Much like the Mondrian, most new downtown developments have showrooms where you can find a sample kitchen and bathroom.
The Bayview Promontory is located at 65 Saghalie in Songhees. Contact me for more information on this development! Units starting from $199,900 with parking including.
The Sovereign by Chard Development is probably my favorite building under construction in Victoria, BC! Has some very cool features such as a car elevator down to the parkade and a spectacular rooftop common area! If you have more questions about this building feel free to give me a call.
Pre-sale developments in Victoria, BC…how come price sheets are not posted on their websites and why are so few units, if any, listed on MLS®?
Most developers don’t like the pre-sale price history to be public knowledge whether prices are going up or down. If prices are going up then buyers will feel like they should have bought two months ago when prices were lower. If prices are going down then buyers might not have enough confidence to buy into the development.
Bayview Promontory – 65 Saghalie
The834 – 834 Johnson Street
Mondrian – 1090 Jonhson Street
Era Condos on Yates
Jukebox Condos on View
Don’t miss out on this beautiful arts and crafts style home on a sun filled 0.23 acre lot at the end of a quiet cul-de-sac in Maple Hills, offering convenient highway access for a quicker commute. The home invites lifestyle amidst friendly neighbours and a desirable area of Cobble Hill. This 3 bedrooms plus den home offers craftsman details, a front porch, a spacious 2 storey foyer, a large bay window and raised ceiling in the living room, a formal dining room, a spacious kitchen with a central work island, a bay window in the nook and an inviting gas fireplace. Many upgrades include gas furnace and heat pump, high-end KitchenAid appliances including a gas stove. Delightful home pulls at the heartstring and awaits your new beginning.
Lot Size SqFt:
Is the amount the buyer’s REALTOR® is offered (aka cooperating brokerage commission) – is it important?
My belief is that it is important. The offered cooperating brokerage commission is the incentive for all REALTORS® to bring their buyers to your home. You will note in Part I, that about 37% of buyers are introduced to a property via their REALTOR®.
Right now there is also a large push for REALTORS® representing buyers to obtain “Buyers Agency Agreements,” which specify compensation (for example, 3.0%100k + 1.5%balance). If the cooperating brokerage commission being offered is less than what the REALTOR® and the buyer have agreed upon it is up to the buyer to make up the difference.
The buyer is looking at two $600,000 homes: In the first scenario the buyer does not have to pay their REALTOR® (high cooperating brokerage commission offered by seller) and in the second scenario they need to pay their REALTOR® $7,500 (cooperating brokerage commission does not meet amount set out in “Buyers Agency Agreement”) – the second scenario may be less desirable to the buyer especially if they have limited funds available for a down payment.
A low cooperating brokerage commission can at times have unintended consequences.
“…REALTOR®’s automated listing search service.” This is a system through which the buyer receives automated emails from his or hers buyer’s REALTOR® when a listing matches his or her criteria. The buyer can see additional information not available on REALTOR.ca such as room measurements, assessment, etc; however, the buyer cannot see the name of the listing REALTOR® or the offered cooperating brokerage commission.
“A REALTOR® (you or another) located the property and informed the buyer.” In the system REALTORS® use they can see both the listing REALTOR®/Brokerage and the offered cooperating brokerage commission. (i.e. 3.0%100k + 1.5% balance or $10,000, etc.).
If you would like more information on the Mondrian or other pre-sale condos in Victoria please feel free to contact me! Prices at the Mondrian start at $169,900 with units ranging in size from 401 sq.ft. to approximately 800 sq.ft. Great location whether you plan on living in your unit or renting it out.
It was a slow year…what more can I say?
2007 = 8,931 unit sales: 12.23%
2008 = 6,519 unit sales: (27.01%)
2009 = 8,096 unit sales: 24.19%
2010 = 6,546 unit sales: (19.15%)
2011 = 6,040 unit sales: (7.73%)
Total Volume $
2007 – $4,146,651,569
2008 – $3,111,882,746
2009 – $3,775,730,705
2010 – $3,239,493,835
2011 – $2,981,977,290
Currently there are several pre-sale condo projects in Victoria, BC. Pre-sale condos can offer attractive investments. For example, currently at the Bayview Promontory (http://www.bosaproperties.com/promontory/) by Bosa you can buy a 1 bedroom condo including parking, heat pump, high-end kitchen, in a 21 story concrete building for around $250,000 including builder incentives and HST.
Two bedrooms units at the Promontory start in the $350,000 range. Additional parking spots can be bought for $12,000. When compared with what is currently on the market, these pre-sale values represent great value in my opinion. Please contact me for more information on developments that may not be available to the public!
Pre-sales at 834 Johnson Street started in 2009 at $198,900. Most of the units offered in this price range were 450 sq/ft to 550 sq/ft. Today, these smaller units are renting from $1,000 to $1,150. If you bought a pre-sale unit and put 20% down upon completion, your mortgage would be approximately $600 to $650 depending on your mortgage product. Now add $150 in strata fees per month and approximately $100 per month for property taxes and you are still under $900/month to own.
In this particular scenario, owning your condo can be cheaper than renting. There are many other benefits to owning; however, it is important to note that there can also be benefits to renting! It is important to examine the pros and cons of each carefully before making the big decision!
Enjoy the uniqueness of this freestanding duplex only attached by a garage. Tired of looking at old homes with maintenance lists as long as the Langford commute? Look no further; quiet, spacious home offers main floor living featuring an inviting living room, dining, kitchen, and powder room. Upstairs you will find three bedrooms including a large master and a beautifully updated bathroom. Outside enjoy the private and fully fenced backyard perfect for pets or kids! Features include gas fireplace, forced air, insulated garage with 240v plug-in, maple floors, large crawl space. Short walk to downtown, public transportation, schools, Crystal Pool & other amenities. Pride of ownership evident with many upgrades over the years! Call today to view.
Commission @ 2.5% + HST = $11,984
Compare @ 6% 100k + 3% Balance + HST= $17,740
Commission Savings with Marko = $5,757
Don’t miss this quiet cul-de-sac home backing onto Cressida Park in the lovely Goldstream area. Pride of ownership evident as you enter this well kept charming three bedroom rancher. A wood-burning stove draws one into the inviting living room which adjoins a cozy family room. The kitchen and eating area open onto a patio and spacious fenced backyard perfect for entertaining, children, pets, or gardeners! Multiple outdoor sitting areas maximize the sunny exposure. Gardening shed and additional insulated space provide for ample storage. When you are ready to go back indoors you will find a master bedroom fit for a king size bed and a large bathroom. This delightful home pulls at the heartstring and awaits your new beginning.
Commission @ 2.5% + HST = $10,794
Compare @ 6% 100k + 3% Balance + HST= $16,312
Commission Savings with Marko = $5,519
You can have it all; bright, spacious & sophisticated southeast facing top floor condo with 14 ft vaulted ceiling & 2 skylights in a quiet, remediated building with warranty. This 1038 sq/ft unit boasts 2 large bedrooms and 2 full baths, black slate entryway, fully updated kitchen with granite countertops, stone/glass mosaic backsplash, stainless appliances & soft close cupboards. Updated flooring in kitchen & baths, gas fireplace, in-suite laundry & many large windows. Close to UVIC, Camosun, bus routes and rec centers. Groceries, restaurants, Starbucks & shopping are a stone throw away as the building is centrally located yet away from high traffic streets. Deck with view of Mt. Tolmie, great for BBQing. Secured underground parking. Must be seen to be appreciated!
Lot Size SqFt:
How did your Cash Back REALTOR® model come about?
Approximately 90% of buyers go to the internet to find their home. Typically, most of my buyers contact me with a list of homes they would like to see based on the information they have gathered online (price, pictures, location, floor plans, etc.). This very process cuts down my workload significantly — in the past I would have had to spend more time with my client trying to locate an area and type of home.
Technology has made it much easier to set my clients up with real-time data; in the past I would have to send out information manually. This has drastically reduced the time it traditionally took to handle each buyer.
Lastly, the days of needing a brick and mortar office are over. The internet provides the entire store front any tech-savvy REALTOR® needs to get in front of his or her perspective clients.
What does all of this mean? It is quite simple; I can handle more clients which means I can reduce my rates by giving you a portion of my commission.
Sales are slow while prices remain relatively flat.
Brand new! Over 2,800 sq/ft finished living space plus double car garage on a freehold lot. Not your typical spec home; inside you will find 3/4 inch exotic walnut floors, a large gourmet kitchen with KitchenAid Architect Series II appliances, custom built shower with air jetted Jacuzzi, heated tile floors, and Martha Stewart closets. All bathrooms feature double sinks with granite – even the suite! Living room has vaulted ceilings with a built in sound system, and a spectacular Valor gas fireplace. Luxurious legal two bedroom suite – must see – rental value approximately $1,300 – $1,400/month. Fabulous location close to Oaklands school & walking distance to major amenities and downtown (20 min). Bus routes half block away. 2-5-10 Warranty. If you are interested in a new home in Fernwood contact Marko Juras via email: firstname.lastname@example.org
Commission @ 2.5% + HST = $24,052
Compare @ 6% 100k + 3% Balance + HST= $32,222
Commission Savings with Marko = $8,170
Check out this useful outdoor hot & cold water tap!