Presale condos in Victoria, BC. Is it a good time to buy into this segment?

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!

Owning vs. Renting – Reporting from 834 Johnson Street, Victoria, BC

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!

What is a Cash Back REALTOR®?

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.

September Market Numbers!

Sales are slow while prices remain relatively flat.

What to look for in a newly built home?

Check out this useful outdoor hot & cold water tap!

Flat Fee MLS® Listings – Research Required!

Most Flat Fee MLS® listings will get your home on realtor.ca but that is only a small part of the equation!

Assessing Kitchen Quality beyond the Exterior Appearance!

Enoy the Video!

Does the Real Estate Commission matter to you as a Buyer?

Simple answer: Absolutely. Enjoy the video!