New building lots are available now at both Nicklaus Ridge and Hedgestone Lane! Lots on the golf course from $275,000!
Is there a housing bubble in Victoria, B.C?
Definition of housing bubble: A real estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets. It is characterized by rapid increases in valuations of real property such as housing until they reach unsustainable levels and then decline.
Developers offering large commission bonuses to REALTORS®!
Pre-sales units sold by the developer typically sell at the list price with little or no negotiation room. In the past buyers had two options. For example, if a buyer was interested in a $300,000 pre-sale condo he or she could visit the developer’s showroom and enter into a contract for $300,000 — in this situation the buyer has no representation. Option two was to use a buyer’s agent (REALTOR®), the buyer would still enter into a contract for $300,000; however, the developer may pay the buyer’s agent a commission of 3.0%100k + 1.5%balance* or $6,000. As you can see, developers prefer to generate sales directly from the showroom as they don’t have to pay out a commission. Most developers count on approximately 70% of their sales being directly through the showroom as it is their direct benefit. Take a look at my Pre-Sale Cash Back Offer!
Another successful Flat Fee MLS® sale – WITH TESTIMONIAL!
Jeannie and Ernest sold their Saanich home successfully using my Flat Fee MLS® package, also known as a ‘Mere Posting,’ and saved over $8,000 in commission when compared to a commission of 6%100k + 3.0%balance. Below is what Ernest and Jeannie had say about their selling experience.
957 Wilmer Street – Immaculate Fairfield Gem!
Pride of ownership is evident in this Fairfield gem offering 1950 character with today’s conveniences of a tastefully updated home. You’ll appreciate the large and bright kitchen with stainless appliances, newer bathrooms, and a separate dining area. Downstairs you’ll find two generous bedrooms, a den, an updated bathroom, and a media area wired for your home theater! Potential for secondary accommodation if desired. Outside you will find an easy care level yard providing for a peaceful retreat. Fully landscaped with underground sprinkler system and newer garden shed. A fabulous Fairfield location on a gorgeous quiet street close to Oak Bay Village, schools, and numerous parks! 200 amp service, sewer/storm replaced, and much more.
Alternative real estate business models increasing market share in Victoria!
The consumer is smarter and seeking value in a difficult market. It just doesn’t make sense anymore to spend over $20,000 to sell an average $600,000 home in Victoria!
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