I personally purchased a unit at the Encore, more details at Citified.ca, news story, “Bosa unveils spectacular views and exceptional value with Encore.”

In Victoria, B.C., surveys show only 1 in 8 buyers use realtor.ca to find their new home; therefore, if your mere posting is just on realtor.ca you are missing a lot of buyers. To get the best exposure go with a mere posting package that includes being upload to the local real estate board database.

I think so, but the market will be the judge.

The Encore by Bosa is an approximately 15% premium over the Bayview Promontory in terms of launch asking prices.

There is really no reason to complain about real estate commissions fees as there are many alternative business models out there available to the consumer; however, the consumer has not embraced them in terms of market share.

There are a number of steps you can take to mitigate risk in terms of avoiding purchasing a property with a buried oil tank.

Both approaches have their benefits and their challenges. If cash flow is critical; then selling tenanted may be a better approach. If the property does not show very well with the tenants; then selling vacant may be a better approach.

This is going to be another great project that will likely present great pre-sale purchasing opportunities.

Short term; however, can be hit and miss.

Five reasons to buy smaller condos as investment

1. The purchase price to rent ratio advantage, or return on investment

2. The property transfer tax (PTT) advantage.

3. The GST advantage.

4. The municipal property tax and strata fee expense to gross rent ratio.

5. Liquidity and cash flow advantage. When you have three condos worth $200,000 each you are more liquid versus having a $600,000 condo and also there is less vacancy cash flow risk.

Chard Development; the “small guy.”
Bosa Properties; builder first roots.
Concert; organize developer machine.

Believe it or not, there are great pre-sale buys out there often as a result of developer oversight in the pricing spreadsheet.

A sellers’ market in the core areas of Victoria combined with re-wording of the time clause paperwork a few years ago doesn’t give sellers a lot of motivation to accepted a subject to the sale of a home offer.

Don’t fall for commonly used listing presentations strategies which are not support by statistics.

Approximately only 33% of sellers are using the REALTOR® they used to purchase to help them sell the home down the road. A good measure of a REALTOR®, in my opinion, is the percentage of individuals that purchased with that REALTOR® that use him or to sell.

Reality is very competent REALTORS® are also very busy, for a reason, and it is not realistic for them to be available on super short notice for any individual client.

Doesn’t make sense to me, but the majority of the consumers continue to pay large fees to have their property often sell in a matter of days.

The first quarter of 2015 has been the best first quarter we’ve seen in the last five years and things continue to heat up with high sales volume and relatively low new and active inventory.

Turning a three bedroom home into a two bedroom home with an ensuite and walk-in closet actually may decrease value despite the large capital investment.

If you want to renovate your home you’ll probably get various bids/quotes for the work. Why not receive various bids/quotes to list your property?

Property assessments are a good gauge of the overall market; however, they are not a good indicator of market value on any specific property.

Some of the basics include the return on investment (ROI).

In Victoria the return on investment properties is very low; therefore, having the bulk of your investment in real estate may not always be the best option. Diversification into other investments can be important.

When you have cash it might not be beneficial to pay all cash in a low interest environment.

It’s pretty simple in my opinion. Offer a lower commission structure and carry out more sales volume.

Not too much in my opinion. Often the sellers’ custom outdoor improvements are not so custom to the buyer, or the buyer may even find the improvements to be a liability such as a hot tub or pool.

Essentially there are three types of suites you’ll find in most municipalities in greater Victoria; legal conforming suites (the best scenario); legal non-conforming (zoning for the lot allows for a secondary suite but there are no permits in place for the suite); and final non-legal (the zoning does not allow for a secondary suite which also makes it impossible to be conforming). When purchasing a property with a suite one should familiarize themselves with municipal bylaws and especially the risks that come with having a legal non-conforming or non-legal suite.

A big component of deciding whether to buy a fixer upper or turnkey rental property depends on your personal circumstances and lifestyle. A larger fixer upper may not be an ideal investment property for someone living out of town or with a busy work schedule; however, it may work well for a trades person or semi-retired individual.

Does it make sense that it costs the same amount to sell a home as it costs to frame the home? As a REALTOR® it doesn’t really make sense to me, does it make sense to you?