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Posts tagged ‘condos’

Mariner’s Village In Sooke To Include New Medical Centre

Mariner's Village, Sooke, Master Concept

Sooke is quickly becoming one of the province’s fastest growing communities. New neighbourhoods are under construction, new parks and trails being established, and new commercial developments are being undertaken. Perhaps the most exciting of these developments is the Mariner’s Village project. Mariner’s Village is a mixed-use, multi-phase waterfront development which will include condominiums and townhouses, a new marina, restaurants, shops, offices and more.

Much more than just a subdivision, Mariner’s Village is the first step in the re-imagining of downtown Sooke. The town’s official community plan calls for enhanced development south of Sooke Road (Hwy 14) to improve public access and sight lines of our spectacular waterfront of the Sooke Harbour and Basin.

For a few years, there has been talk about a new medical centre being built in Sooke – more comprehensive and modern than the town’s existing small clinics, scattered about the community. In the plan for Mariner’s Village is the “Sooke Professional Wellnes Centre,” a large (perhaps up to 10,000 sqft) facility complete with doctors’ offices, Vancouver Island Health Authority (VIHA) space, lab space, x-ray clinic, and other medical and wellness facilities.

A more comprehensive medical facility is essential for our town’s growth, especially considering that the nearest hospital is 25-35 minutes’ drive away in View Royal. And for the communities further west of Sooke like Shirley, Port Renfrew and Jordan River, it will be even more critical.

The project is just getting started, with its sales office for the first residential phase having just opened a couple of weeks ago. While it will take some time for this facility to be built, it will be worth the wait. If you want more information about Mariner’s Village or any other developments or neighbourhoods in Sooke, please call me at 250-885-0512, email Tim@TimAyres.ca or fill in my contact form.

Want to know why Sooke is the place to be? Contact me!

Tim Ayres – Sooke Real Estate Professional

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How Many Homes Are There At Sooke’s Sunriver Estates?

A beautiful home at Sunriver Estates in Sooke, BC

…And answers to other frequently asked questions about Sunriver Estates in Sooke – one of the most popular new neighbourhoods in the greater Victoria, BC area.

Because I write a lot about Sooke, I get plenty of questions about living here, working here, and of course, about the neighbourhoods. Sunriver Estates is a huge master-planned community on the banks of the Sooke River, sloping up the Sooke Hills with various creeks and other natural features. It’s a very nice looking development, so it’s no surprise that it’s very popular. Also, the lots are larger than most other new developments in our area, so you can have a real back yard instead of a postage stamp. People move out here for the natural beauty, recreational options, quiet lifestyle, and of course the value. It amazes people when they visit Sooke what you get for your money, and how much more a similar house would cost (usually on a tiny lot) in Victoria, or even Langford, just 20-25 minutes’ drive away. Below are some answers to some frequently-asked questions about Sunriver Estates in Sooke.

Q. Is Sunriver Estates a strata development?

A. No, all homes in Sunriver are freehold, fee simple titles (except for the townhouses). Read details in this post.

Q. How many homes have been built at Sunriver?

A. There have been 371 houses built at Sunriver since it broke ground in 2004.

Q. How many homes are planned?

A. There will be 715 houses at Sunriver when construction is completed.

Q. How many more years will construction be taking place at Sunriver until it’s built-out?

A. At the current pace of construction, all homes will be sold and construction complete in approximately 5 years.

Q. What about the building scheme? I’ve heard that boats and RVs, etc are not allowed? Who enforces it?

A. The building scheme at Sunriver allows boats and RVs, etc, but stipulates that they must be behind a fence, lattice, or other sort of screening so that they don’t clutter up the character of the neighbourhood. The developer has sent out letters to offending properties asking them to comply. To date no one has been fined or needed action beyond the letter.

Q. Are any condominiums planned for Sunriver?

A. No, condos are not being built at Sunriver Estates. There are some very nice townhouses at The Pointe, and there may be a few more built.

Q. Will there be any commercial space built at Sunriver? Neighbourhood shops, cafes, etc?

A. When construction is completed, the sales centre will be sold off as commercial space. It will be up to the buyer (and Sooke zoning and business bylaws) what goes in there. Anything is possible – cafe, restaurant, pub? Who knows!

If you have any more questions about Sunriver Estates or other areas in Sooke or would like information about homes for sale in Sunriver Estates and Sooke, give me a call at 250-885-0512, email Tim@TimAyres.ca or fill in my contact form!

Do you live in Sunriver? What’s your favourite thing about living there?

Tim Ayres – Sooke Real Estate Professional

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Exciting New Ocean View Condo Development for Sooke!

Late last month,  I was invited to a lunch event at the fabulous Markus’ Wharfside Restaurant to learn about two new development projects that will soon be breaking ground in Sooke.

Harbour View Center is the most exciting of the two. I’d venture to say it’s probably the most important development in the last 5 years, besides perhaps Sunriver Estates. It’s been at least a decade since the last condominium complex was built in Sooke, and I believe the market is desperate for some new, quality condos in Sooke.

The building will be located at Dover Street and Sooke Road on Sooke’s southern slope, just east of the town centre. This is an area that Council has designated as the major growth centre for the town, and for good reason. The gentle slope from Sooke Road down to Sooke Harbour is ideal for building beautiful ocean and mountain view homes and commercial space.


View Harbour View Center Location in a larger map

The development will feature 32 suites, most with spectacular ocean views. The non-view suites start at a very affordable price – $189,900 for 555 sqft, and prices range up to a very reasonable $399,900 for a top-floor, 1012 sqft ocean view unit. All units will feature 10 or 11 foot ceilings, granite countertops, hardwood floors, private balconies, and the complex will have underground parking – as yet unheard of in Sooke due to lack of storm sewers.

This is the first of what I hope are many affordable, quality condominium projects that will be coming available in the next few years. If you’ve been waiting for a chance to have a brand-new condominium in Sooke to live in, rent out, or as a vacation property, this is your golden opportunity. With only 32 units available, I’m fairly certain that this will sell out, and sell out fast.

For more information on how to register to reserve your unit, please contact me at 250-885-0512, Tim@TimAyres.ca or fill in my contact form.

Tim Ayres – Sooke Real Estate Professional

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First Time Buyer Friday #8 – Do I Need A Home Inspector?

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.

What lurks in the attic? The home inspector knows!

What lurks in the attic? The home inspector knows!

Q. A friend said that if I decide to purchase a condo or a home with a warranty, I don’t need a home inspector. It that true?

A. I would always recommend that you protect yourself from unforeseen problems by hiring a qualified home inspector as a condition to buying the house. In fact, it’s so important that our standard-form Contract of Purchase and Sale has an inspection clause pre-written into the subjects page.

An inspector will cost you somewhere between $300-$500 and is money well spent. Some offer a lower rate for condos or townhouses, while others are the same for all property types. This is money that is spent before you remove your conditions, so it’s a good idea to get the final approval on your financing before you pay an inspector to look at the house. That way, you avoid the frustrating position of  knowing that the house your bank won’t let you buy is safe and sound.

As of March 31, 2009 all home inspectors are required to be licensed in British Columbia. This is a huge step forward in standardizing the industry and protecting consumers. Prior to this requirement, anyone could call him or herself a home inspector without any real knowledge about homes or any formal training! To be fair, most reputable home inspectors belong to a self-regulating professional organization such as the Canadian Association of Home and Property Inspectors (CAHPI).

With a condo or townhouse, sometimes an inspector cannot get access to all areas of the exterior of the building, for example, the roof. It’s important that you get your REALTOR® to arrange access to these spaces. Otherwise, you only get a limited idea of the condition of the property by having the inspector examine only the strata unit you’re buying. Remember that when you buy a condo or townhouse, you are also buying an interest in (and responsibility for) the common property of the building, so it only makes sense to have it inspected to avoid any unforeseen expense.

If you buy a newer home, it will come with a warranty. The good news is that the warranty will cover many things that could go wrong. The bad news is that a warranty doesn’t prevent problems from occurring. Better to spend the money and get it inspected. Often, the current owners of the property can have any problems found remedied before you move in, saving you the hassle of making a warranty claim.

It can be disappointing to have an inspector examine the home that you really like, only to find some major issues that weren’t apparent to you when you first looked at the house. If you have to walk away, you can think of the fee you paid to the appraiser as an insurance premium that saved you from major financial difficulty down the road.

So, how can you find a reputable inspector? Well, it’s comforting to know that inspectors in BC are now licensed, so you could search Google for home inspectors, or look in the Yellow Pages. You may also ask your REALTOR® who he or she recommends. I have three or four inspectors whose cards I carry and would be happy to recommend any of them.

For more information about home inspection or any other real estate questions, call me 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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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.

house-money

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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Strata Mondays #2 – Which floor is worth more?

A large patio is one reason ground level condos are more expensive

A large patio is one reason ground level condos are more expensive

In my continuing series about strata property, Strata Mondays, I answer a different question about condos, townhouses and other strata property in Victoria, Sooke, and British Columbia. Make sure you subscribe via RSS or E-mail to get each new post!

Q. I was looking at a new condominium project and I noticed that the same floor plan was available on all four floors, but the top and ground level were more expensive. Top floor I understand, but why would somebody pay more for a ground level suite?

A. This is very common – all other things equal, the top and ground floors of a condominium building will typically see higher sale prices per square foot. Most people can understand why somebody would pay more for a top-floor condo. A better view, and no noisy neighbours from above are a couple of reasons. Top-floor condos also often have extra-high ceilings or even lofts, skylights, and so on.

But when many people think of ground-level suites, the immediate concern is always security. Being ground level, an undesirable doesn’t have to break in the front door or scale the outside of the building to break in. Some ground level suites are also somewhat below grade, so lack of light can be a concern.

However, there are also significant advantages to a ground level suite. You may see the term garden-level suite, which as the name suggests, emphasizes one of theses advantages. Ground or garden-level suites often come with extra large patios and sometimes even a fenced courtyard. Lack of outdoor space is one of the biggest drawbacks to condo living. It’s possible to have a thriving, lush, beautiful garden with a large patio perfect for entertaining with a ground-level suite. This also enables you to walk up to your home and enter through the patio door if you desire.

Another advantage is that being on the ground level, you won’t have any neighbours below you to disturb, so you can probably install hard surface flooring such as wood or tile. It’s not uncommon for strata councils to have by-laws in place to prohibit units above the ground floor from having hard surface floors, since noise is more easily transmitted to the unit below.

So, it’s for all these reasons that ground-level suites are often more expensive than similar-sized ones on the between floors in low-rise buildings. High-rise buildings would be a different story – with prices increasing as you go higher in the building.

If you have a question about strata property, or any other real estate matter, please e-mail me at Tim@TimAyres.ca. I can also be reached by phone at 250-885-0512

Tim Ayres – Sooke Real Estate Professional

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First-Time-Buyer Friday #3 – Strata Properties

Shutters Spa and Residences

Shutters Condominiums on The Songhees in Victoria

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.

Q. I hear the terms “strata property,” “strata fee,” and “strata council” all the time when looking through listings and talking to real estate people. What exactly does strata mean?

A. Strata properties are just another type of property ownership. It’s a legal concept for dividing up a large property such as a condominium project into individual units that individual owners can own. Typically, a strata property will be either a condominium, townhouse, or bareland strata.

When you buy a strata property, you become a member of that project’s strata corporation, along with the other owners in the building. The strata corporation elects a strata council, which makes decisions and handles things like by-law enforcement, record-keeping, paying the common bills, and so on. Strata corporations are operated much the same as non-profit societies in this way.

A strata property is divided up into three types of property. There is the strata lot (SL), which is the unit that an individual can own; the actual townhouse or condo. There is common property (CP), which each owner in the strata corporation owns a proportion of, depending on the size of their strata lots. This would include things like the driveway, exterior of the building including the roof and exterior walls, hallways, elevators, and so on. Basically everything outside of the interior walls of the condo or townhouse. Finally, there is limited common property (LCP), which is common property designated for the exclusive use of an individual unit. For example, balconies are almost always LCP, and a parking space for a unit will often be LCP, especially in older stratas.

Strata fees are charged to each owner to cover the common expenses like heating the common areas, cleaning, maintenance, water, sewer, insurance, and so on. Strata owners are responsible to pay the strata fees (usually, once a month) levied to their strata lot. The amount each owner pays varies depending on their unit entitlement. Unit entitlement is a fancy way of saying the size of their strata lot in proportion to the other lots in the building or complex. So, the bigger in square footage you go, the more you can expect to pay in strata fees compared to smaller units in the same complex. Strata fees really to vary from property to property in Victoria and Sooke. I would budget about $200-$275 for a two-bedroom condo, and $100-$150 for a one-bedroom. I’ve rarely seen a monthly strata fee over $300 for either a townhouse or condo in Victoria or Sooke.

When buying into a strata corporation, you will be given the opportunity to read over records of all the meetings, letters, and financial statements from the last couple of years. You will also have a chance to read over the by-laws, to make sure they fit with your lifestyle. Many condominiums in Fairfield, for example, do not allow pets. Several others have an age by-law which restricts the units to those aged 19, 55, or even 65 and over. Some complexes allow rentals, and some do not, which is something to keep in mind, also.

All of this discussion about stratas has pushed me to start writing a new section on this blog focusing on strata issues. So, now we’ll have FTB Fridays, and Strata Saturdays Mondays (sorry, can’t guarantee writing on a Saturday!). For detailed information about British Columbia’s Strata Property Act, have a look at the Government of BC Website.

Thanks for reading! If you have any questions on buying your first or fiftieth home, I’d be happy to help. Call me any time direct at 250-885-0512 or e-mail me at Tim@TimAyres.ca.

Tim Ayres – Sooke Real Estate Professional

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Victoria BC MLS® Real Estate Statistics – March 2008

Greetings, search engine visitors! For April Statistics, released today, May 1, 2008, click here!

Steady as she goes, the Victoria real estate market remains healthy through the first quarter of 2008. Current inventory levels are 17% higher than the same time last year, as many condo and townhouse projects that started several years ago come on-stream to the Victoria Real Estate Board MLS®. Sales numbers are strong, but still less than the same period last year. Buyers have more to choose from, and sellers are still getting good prices for their homes. This is the balance that most people were predicting for this year’s market. Despite the average single family dwelling and townhouse prices being up over last month, I don’t think it’s possible to rely on month-to-month statistics to tell whether prices are moving. I think either way, up or down, they’re moving more slowly than in the past 5 years and we should be comparing quarter-to-quarter to establish trends. Below is the statistics release from the Victoria Real Estate Board and their graphs.

Real Estate Market Offers More Choices for Buyers

April 1, 2008

Real estate buyers in the Victoria area have a growing number of properties from which to choose. The total number of properties available for sale rose to 3,591 in March – a 17 per cent increase over March of last year. Victoria Real Estate Board President, Tony Joe, says the return to a balanced market is good news for both buyers and sellers. “With more properties available for sale, buyers now have a greater choice, but the continued demand for homes and steady prices mean sellers can anticipate strong interest in properties that are realistically priced.” There were 707 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in March, down from the 833 sales in the same month a year ago but up 14 per cent from the 619 sales in February.

Joe added that prices remained steady last month, “Twenty-eight per cent of single family homes sold for under $450,000 while nearly 36 per cent of condominiums sold for under $275,000.” At the higher end of the market, Joe noted that there were 20 sales in Greater Victoria and two sales on the Gulf Islands of over $1 million.

The average price of single family homes sold in March in Greater Victoria was $597,176; the median price was lower at $529,625. The six-month average for single family homes was $591,439. The average price of all condominiums sold in March was $328,734; the average for the last six months was $332,552. The median was again lower at $300,000. The average price of all townhomes sold last month was $458,378; the six month average was $437,523. The median price was $411,500.

MLS® sales last month included 407 single family homes, 170 condominiums, 68 townhomes and 16 manufactured homes.

Monthly Sales Summary
Average Selling Price Graph
Active Lisings, New Listings and Sales Graphs

Courtesy Victoria Real Estate Board

Tim Ayres


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Westhills, Victoria BC – A Green Revolution

Langford Master-planned Community Has a Vision For a Green Future.

As a volunteer on the Victoria Real Estate Board‘s Green Task Force, I was invited to a presentation at the WesthillsThe Westhills Master Plan Community Planning Office, at 957 Langford Parkway. The 20-year plan, which envisions an eventual 6,000 housing units made up of condominiums, townhouses, and detached dwellings will sit on a massive 517 acre site on the shores of Langford Lake.

This ambitious development is unique in that it is a large-scale master-planned community, based on sustainability, both resource-based (green building) and social-based (traditional neigbourhood design). The project will adhere to Built Green™ standards for residential construction, and LEED™ (Leadership in Environmental and Energy Design) standards for commercial buildings. The development is also a pilot project for LEED-ND (neighbourhood development), helping to set a standard for residential construction under the LEED™ guidelines.

The overall idea is to create a community that fosters green living, and healthy social interaction. Sustainable building practices and stormwater management will be used. There will be no asphalt paving in the development; all roads and sidewalks will be paver-stone or a similar permeable material, allowing storm water to seep back into the water table rather than having to manage it through drainage culverts, which can lead to unnatural erosion of the landscape. Two commercial nodes and one town centre will have all the amenities within walking distance of every front door in the community. A network of cycling and walking trails will criss-cross the development. And its location right along the E&N Railway line will enable a future train station for any eventual commuter rail service into downtown Victoria. Homes will be closer to the street, and will feature outdoor living spaces at the front of the house, to foster human interaction. Also, the idea is to have a mixture of different types of housing in the same area, ensuring that the neighbourhood is populated with people of all ages and socioeconomic status.

The master plan calls for 40% of the total acreage to be left untouched, including several forested areas, natural marshland, mountains, hills, and lakes. It is hoped that paradise falls, a small waterfall between two lakes on the property could be harnessed for hydroelectric power.

The property is still in the early stages of development; there are no homes for sale just yet, but the team is just putting the finishing touches on the initial floor plans, and hope to have the first neighbourhood started by the fall.

As green building becomes more and more mainstream, the extra cost associated with building green will gradually fall off. This is the hope of the development team, who struggle with the dilemma of reaching the standards of Built Green™ and LEED-ND™ without putting costs out of the reach of home owners. For example, metal roofs would be the ideal choice – no toxic chemicals leached into the runoff, etc – but as of now it is cost-prohibitive. They are also exploring the possibility of using a geothermal heating and cooling system, which would greatly increase energy efficiency.

The Westhills team is certainly practising what they are preaching. Their office is built just how they want their homes and commercial spaces built in the development. A comfortable flooring material made from recycled rubber tires lines the presentation area. Special care was taken to use low-VOC (Volatile Organic Compounds) adhesive to fix it to the floor. There is recycled/recyclable carpet over a cork underlay. The sitting area has a floor made from the refinished glu-lam beams from the recently-demolished Mayfair Lanes bowling alley (how cool is that!?). All paints, stains, adhesives, etc are low-VOC. Even the office furniture and cabinetry is all sourced from sustainable or recycled product. And of course, lighting is provided by low-voltage halogen or compact fluorescent.

This ambitious project will hopefully highlight how builders and developers can handle future growth, while simultaneously maintaining a strong bottom line and protecting our environment. For more information about this remarkable community and the principles and standards to which it will be built, please visit their website, and check out the various links at the top and left side of the page.

Tim Ayres


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