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Posts tagged ‘Colwood’

How to Sell Your Langford or Victoria BC Home In A Day

Fast-Sale-East-Sooke

Call your REALTOR®, and list it now.

Of course, not every home is going to sell overnight, but supply of good, moderately-priced homes is tight, and seems only to be getting tighter. I’ve been tracking listings of single family homes in Sooke, Langford, and Colwood for a client of mine. Check out this spreadsheet (I’ll keep updating it, so feel free to bookmark it). Listings are up a little bit this week, but often conditions come off on Fridays, so you can expect quite a few drop off before the week is out.

From a days on market standpoint, I’m simply amazed at how quickly well-priced, mid-market homes are selling. Out of all sales (80 total) in Langford, since September 1, the average time to sell is 36 days. There were a few 100+ days on market listings that drag the average up a little. To better illustrate my point, there were fully 32 single family homes that sold in 14 days or less. Keeping in mind that conditions on an offer usually take a week or longer, you can comfortably assume that homes that sell in 14 days or less have an accepted offer within a week.

During the same period, it seems that most of the core areas of greater Victoria are experiencing similar time to sell. Next door, Colwood had an average of 45 days on the market, with 31 sales. The central core of Victoria (Victoria, Saanich, Esquimalt, Oak Bay) saw 307 homes sell in an average of 36 days.

Interestingly, Sooke, which has much more moderate prices, had 36 sales in an average of 76 days on market. This is not unexpected – Sooke’s market has always been a little slower than the rest of greater Victoria. Still – well priced, mid-market homes are selling quickly in Sooke.

At a time of year when things are usually expected to start slowing down, this market is as busy as ever. If you’re thinking of selling your home, now would be a very, very good time. There is still time to move before Christmas, or start the new year off in a new home.

I’m always available to answer questions, run stats, and of course I’d love to evaluate your home and show you my marketing plan. I can be reached at 250-885-0512, Tim@TimAyres.ca, or you can fill in my contact form.

Tim Ayres – Sooke Real Estate Professional

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Free Real Estate Seminars

Could this be your next home?

Could this be your next home?

I will be co-hosting a series of real estate seminars on Thursday, June 11th at the Juan de Fuca Library, beside the rec centre on the Island Highway. Joining  me are Alexis Mills, a mortgage broker, and Jeremy Kimm, a financial planner, for three different perspectives about buying and selling real estate.

We have two seminars planned for the evening. You can attend one or both, depending on your needs.

Your presenters are:

Tim Ayres – Royal LePage Coast Capital Realty: Tim has a unique approach to real estate, and offers sound, impartial advice to all clients, coaching them along every step of the way. Tim’s no-pressure approach makes his clients feel at ease, empowered, and confident in their real estate transactions.

Alexis Mills – Global Mortgage Corp: Alexis is a true professional in the mortgage world, offering her clients outstanding service and the best rates, bar none. Alexis works incredibly hard on every mortgage, ensuring her clients are matched with the best mortgage product in today’s ever-increasingly complex world of mortgage financing.

Jeremy Kimm, CFP, FMA, Financial Consultant, Investors Group Financial Services Inc.: Jeremy has an enthusiastic, yet straight-forward approach to financial services. From life insurance to long-and-short-term investment planning and more, Jeremy’s friendly deameanor and expert knowledge enables his clients to ensure they have the most effective financial plan going forward.

6:45-8:00pm at the Juan De Fuca Library: Upsizing, Downsizing, Investment, and Vacation Properties. Join us for an informative look at moving up or moving down in the Victoria real estate market, purchasing an investment property, and purchasing a vacation property. You’ll learn about buying and selling strategies, mortgage requirements and innovations to help you save, and about the potential tax consequences and how to avoid them.

8:00-9:00pm at the Juan De Fuca Library: Buying Your First Home. First time buyers drive the real estate market in most areas. They allow the move-up buyers to move up and have been instrumental in kick-starting our real estate market in recent months. How can you take advantage of record-low interest rates, falling real estate prices, and government incentives to purchase your first home? What are the steps involved? How can I save a down payment? This very popular seminar has helped many first-time buyers get into their first homes in the past few years.

You can attend both seminars if you wish!

Seminars are free, but space is limited! Please call Tim at 250-885-0512 or fill in the form below to reserve your seat:

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Tim Ayres – Sooke Real Estate Professional

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Royal LePage National Garage Sale For Shelter – Victoria

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Coming up on May 23rd, Royal LePage Coast Capital Realty, one of Victoria’s largest real estate firms, is taking part in the National Garage Sale for Shelter. Royal LePage offices from coast to coast will be having large community garage sales in support of our national charity, the Royal LePage Shelter Foundation.

Victoria’s event is being held at our Colwood office, located in the Colwood Corners Plaza. The parking lot will be filled with plenty of items for everyone, so come on by and see if you can find a great deal. 100% of all proceeds will go to help women and children in need in our community.

The Royal LePage Shelter Foundation is dedicated to ending violence against women through the support of local women’s shelters in the communities that our REALTORS® serve, and through national violence prevention programs. 100% of every dollar raised goes to helping the cause, as Royal LePage corporate picks up the tab for the administration of the charity.

As the long weekend approaches, many will be taking the opportunity to do a little spring cleaning around the house. If you have any good quality, salable items that you would like to donate, please call me at 250-885-0512, e-mail me at Tim@TimAyres.ca or fill in my contact form before Wednesday, May 20th and I will be happy to come and pick the items up. I have a small pick-up truck and can handle furniture and larger items too.

Please pass on the link to this post if you know of anyone else who has some items to donate or who might like to visit the sale and get a great deal for a great cause!

Tim Ayres – Sooke Real Estate Professional

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BC Election: Sooke All Candidates Meeting – May 4th, 2009

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I received an e-mail from BC Liberal candidate Jody Twa‘s campaign office informing me of an all candidate’s meeting here in Sooke. The meeting will take place at Edward Milne Community School on Monday, May 4th, at 7:00pm.

The panel will consist of Jody Twa of the BC Liberals, John Horgan (incumbent) of the BC NDP, and James Powell of the Green Party of BC. The moderator will be local Sooke lawyer Peter Faulkner.

Jody Twa, James Powell, and John Horgan

Jody Twa, James Powell, and John Horgan

I’d encourage all Sooke residents to attend and hear what the candidates have in mind for our region. The Juan de Fuca riding is very diverse, stretching from the urban centres of Langford and Colwood all the way out to the sparsely populated areas of Port Renfrew and Jordan River (map). The needs of our residents are as diverse as their communities, and you should be asking the candidates what their plans and vision are locally if they are lucky enough to be elected, instead of giving too much thought to the spectacle that is the leaders’ campaign provincially.

In my view, the party vs party, leader vs leader portion of the campaign has thus far been an unmitigated disaster. It’s been a boring, childish, name-calling affair, with no real issues. Both major parties seem more content to sling mud and dig up dirt on each other’s candidates on Facebook and the Provincial Court Registry than talk about real issues. It’s painful and it doesn’t do us, the electorate, any good.

Hopefully, voters will get involved at the local level and give their candidates some issues to take to Victoria. This is the way our system is supposed to work – regional representatives actually representing their constituents instead of spewing party gibberish.

How do Juan De Fuca constituents feel about the campaign? Care to share who you’ll be supporting? Both Langford and Sooke mayors have endorsed Jody Twa – do you agree?

What about BC-STV? Do you think this is a solution to our voting system’s flaws?

Tim Ayres – Sooke Real Estate Professional

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First Time Buyer Friday #6 – What Does My Money Get Me?

In my continuing series, First-Time-Buyer Fridays, I answer a common question from a first-time buyer. If you have a question to submit, first-time-buyer or experienced investor, put one in the comments below, or fire me an e-mail at Tim@TimAyres.ca.

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Q. I want to spend about $400,000 on my first home – what can I buy for that kind of money?

A. Let’s break this down and see what $400,000 would cost first. To buy a $400,000 home, you’d need 5% down at a minimum, which is $20,000. The remaining $380,000 would need to be mortgaged. If you were to get a 5-year fixed rate at 4%, amortized over 35 years, your monthly payment would be about $1675. A two-income family should be able to afford that payment.

Keep in mind that you should think long-term. While interest rates today are at historic lows, you need to think about what happens in 5 years when it’s time to renew. No one knows where interest rates will be at that point, and you should build in a comfort zone by calculating the payment at a higher rate of interest. At 5%, the same mortgage estimated above would be $1905 – at 6%, $2150, and at 7%, $2401. The risks of this can be offset by choosing a shorter amortization period (25 or 30 years, instead of 35), which would allow you to pay off more of the principal before it’s time to renew, or you could make extra payments where your budget (and mortgage terms) allow.

So, now that we’ve established what $400,000 looks like on a monthly basis, let’s have a look at what that sum would buy you in today’s market.

In the Victoria core area (Victoria, Oak Bay, Saanich, View Royal and Esquimalt) there are 27 single family homes under $400,000 as of writing this post. Most are small, and old, but there are always a few gems in this price range. There are plenty of condos under $400,000 – 384 to be exact. In the higher end of the range, there are brand new suites at The Juliet, The Ovation, The Monaco, and other brand new high end developments in the core. At the lower end of the range, older buildings (which usually mean larger suites) offer stability and peace-of-mind for less than $250,000. There are 45 townhouses in Victoria and vicinity under $400,000 as of writing, with lots of variation in style, age and location.

Moving further out of the Victoria core area, you’ll get more bang for your buck. In Langford and Colwood as of this writing, there are 30 single family houses and 44 townhouses in Langford and Colwood for sale under $400,000 – including brand new homes in the Happy Valley area, and townhouses at the foot of Bear Mountain. $400,000 would get you nearly any condo, with 215 condos under $400,000 in Langford and Colwood to choose from. Only 21 are above $400,000, mostly on Bear Mountain, or in that new development on the waterfront in Colwood at Esquimalt Lagoon.

Further out west to Sooke is where many first-time buyers are choosing to go (here are 10 good reasons to move to Sooke.) The drive to Victoria is a little longer (but it’s nice!) and the town smaller, but that means that you get a lot more for your money. There are 49 houses for sale in Sooke under $400,000, including many brand new beautiful houses in new subdivisions. If you buy in Sooke, there is also the option of buying an older home to renovate to your liking. Older homes will most likely have a larger lot, too. There are not many condos or townhouses in Sooke, but more are being built all the time. Almost all of them are under $400,000, including the brand-new townhouses at The Pointe in Sun River Estates and waterfront condos along Kaltasin Road. As of writing, 29 condos and townhouses in Sooke under $400,000 are for sale.

I have found that first time buyers are often surprised by 1) How much they can afford, and 2) What that money will get them. There’s plenty of product out there, prices are declining, and with the Bank of Canada reporting that interest rates will remain low until at least the second half of 2010, there hasn’t been a better time to buy in a long time – if it’s right for your situation.

It may or may not make sense for you to buy right now. To get a clearer picture, or for more information about any of the homes mentioned in this post, give me a call at 250-885-0512, e-mail me at Tim@TimAyres.ca or fill in my contact form. Connect with me on Twitter at Twitter.com/TimAyres.

Tim Ayres – Sooke Real Estate Professional

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Just Saying Hi On My Way To Westshore MLS Tour [VIDEO]

It’s been a while since I was on video! I went to the West Shore MLS tour in Colwood and Langford today and just thought I’d say hi to you through the video. I had one of my listings on the tour this week and got to see 10 other really nice places in Langford and Colwood. I hope you’ll enjoy the video!

Tim Ayres – Sooke Real Estate Professional

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