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I have sold a property at 326 1029 View St in Victoria

I have sold a property at 326 1029 View St in Victoria on May 2, 2024. See details here

Open House Sunday 12:30-2:00. The Jukebox is an award-winning 2019 steel and concrete building in the Harris Green neighbourhood of downtown Victoria. This SOUTH-FACING turnkey suite is located on the building’s garden level and features a 126 SqFt PRIVATE PATIO, SECURE PARKING SPACE, storage, in-suite laundry and is pet friendly. Flooded with natural light, the open-concept living space showcases 10' ceilings, hardwood floors, fresh paint, stainless appliances, quartz countertops & backsplash, a bathroom with a full quartz-walled shower & separate bedroom with a large storage loft. Down the hall, you will find the fitness centre and common outdoor Zen Garden. With a walk score of 95, you can leave your car at home. Enjoy a stroll or bike ride down the green space along Vancouver St, leading into Beacon Hill Park. Situated within easy walking distance to downtown Victoria, shops, grocery, restaurants, & the Inner Harbour. Flexible possession & the furniture is negotiable.

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I have sold a property at 801 1090 Johnson St in Victoria

I have sold a property at 801 1090 Johnson St in Victoria on Apr 30, 2024. See details here

Welcome to The Mondrian, a modern 2013 steel and concrete building centrally located in downtown Victoria. This Southeast-facing 8th-floor unit showcases stunning views over the city towards the mountains. High-end finishes throughout with quartz counters, mosaic tile backsplash, European-inspired cabinetry and stainless steel appliances. The large balcony provides some outdoor living space, while inside you can take in the views from the living room and kitchen. Leave the car at home and easily walk everywhere, Cook St Village, Dallas Rd, Beacon Hill Park, Inner Harbour, shopping, restaurants, Fernwood coffee & more. The unit includes secure parking, bike storage, storage locker & in-suite laundry. The building features a common meeting room and garden space. No age restrictions, rentals allowed and pets too! This unit would make a great investment or option for first-time buyers. Don't miss your chance to enjoy downtown living at its finest.

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Open House. Open House on Saturday, April 13, 2024 1:00PM - 3:00PM

Please visit our Open House at 3122 Dolphin Dr in Nanoose Bay. See details here

Open House on Saturday, April 13, 2024 1:00PM - 3:00PM

Open House Saturday the 13th 1-3. Nestled amidst the beauty of Vancouver Island's west coast, this residence offers a serene retreat with unparalleled access to nature. Nanoose Bay boasts an abundance of outdoor activities; kayaking, scuba diving, mountain biking, boating and more! A Beautiful Marina & Fairwinds Golf Club are just moments away. Explore the nearby parks and trails, such as Moorecroft Regional Park or Englishman River Provincial Park. Enjoy beach access right across the street, where you can launch a kayak or go for a dip! Convenience meets tranquillity in Nanoose Bay, with a range of local amenities nearby. The well-maintained home features a lovely living room with large windows and vaulted ceilings. The south-facing backyard is drenched in sunlight. Take advantage of the full-height lower level ready for your ideas. Whether you seek outdoor adventure or crave the peace of coastal living, Dolphin Dr offers the perfect blend of both. SEE FEATURE SHEET FOR MORE!

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I have sold a property at 2171 Portree Lane in Shawnigan Lake

I have sold a property at 2171 Portree Lane in Shawnigan Lake on Apr 4, 2024. See details here

Welcome to this lovingly maintained 2740sqft, 3BD, 3BA home located in Shawnigan Beach Estates. The open plan living dining has tongue & groove vaulted ceiling, wood accents & wood burning FP. The kitchen has cooktop, built-in oven & lots of cupboards with attached breakfast nook and the wet bar & open rec room allow access to the deck. The sunken family room has stone feature wall w/electric FP & built-in sofas. The 2pc BA & double garage with laundry finish off this level. The upper level has a 4pc BA, 2 BDs & the primary suite. The primary BD has a 5pc ensuite & sitting room w/electric fireplace. The lower level has a den, storage & a workshop. Through the basement door you are on the covered patio & private forested backyard. This home sits on a 0.28ac corner lot property with schools, trails & public beach nearby. Updates include roof, laminate flooring, vinyl deck & aluminum railing, HW tank & electric fireplaces. Come check out this property & book an appointment to view today.

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I have sold a property at A 2341 Sooke Rd in Colwood

I have sold a property at A 2341 Sooke Rd in Colwood on Mar 28, 2024. See details here

Open House Sunday 1-3 Nestled in the heart of the Westshore community, this renovated home is a hidden gem! Featuring an open living space, 2 bedrooms, 2 bathrooms, plus den perfect for a home office or guest room. The kitchen and bathrooms showcase modern features, while the den adds versatility to your living space. The nearly 8,000 SqFt lot boasts a generous yard, providing space for outdoor living, along with secure storage and ample parking for trailers, RVs etc. With only a small section of shared wall at the rear of the home, this "Half-Duplex" feels like a single-family detached home. Convenience is key with this property - located close to all amenities. Priced below the new threshold for First-Time-Buyers property transfer tax exemption, along with the freedom of no strata fees, this an excellent starter home for those looking to get into the market. Positioned along the BC Transit Corridor this is an excellent holding property with future development potential.

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I have sold a property at 1151 Blind Bogey Dr in Qualicum Beach

I have sold a property at 1151 Blind Bogey Dr in Qualicum Beach on Mar 25, 2024. See details here

-----SPACIOUS & BRIGHT EAGLECREST HOME-----Delightful 3 Bed/3 Bath Custom Home on landscaped .20-acre backing onto 4th fairway of golf course! Ideal for families & active retirees, sun tunnels & generous use of glass, nice updates, lovely outdoor living space, Art Room/Studio/Workshop, & peaceful location w/easy access to shopping, transit, schools, and the beach. Formal Living Room w/2-storey ceiling vault & wood FP, steps lead up to Formal Dining Room & reno'd Kitchen w/quartz CTs, stainless appls, & Nook w/door to covered deck w/treed view of golf course. Also Primary Bedroom Suite w/WI closet & 3 pc ensuite, 2 additional Bedrms & 3 pc Main Bath. Finished lower level has Family/Recreation Room w/wood stove & door to patio & backyard w/gardens, shed, & Greenhouse. Completing lower level is 3 pc Bath, Laundry/Utility Room, & Art Room/Studio/Workshop! Great extra features, walk to beach, mins to Parksville. Visit our website for more pics, floor plan, VR Tour & more.

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I have sold a property at N509 737 Humboldt St in Victoria

I have sold a property at N509 737 Humboldt St in Victoria on Mar 25, 2024. See details here

Located in the esteemed Humboldt Valley, the Aria is one of Victoria’s most prestigious buildings. Steps to the Inner Harbour, Empress Hotel, Restaurants, Royal BC Museum, Beacon Hill Park, Royal Theatre, Cook Street Village, along with transportation to Vancouver & Seattle. This immaculate 5th-floor corner suite faces southwest and is flooded with natural light. Showcasing TWO large outdoor spaces perfect for entertaining, enjoying an evening cocktail or a peaceful morning coffee. High-quality finishes throughout, this suite features a large gourmet kitchen, granite countertops, brand new stainless steel appliances, eating bar, engineered hardwood, a cozy gas fireplace, floor-to-ceiling windows and brand new in-suite washer & dryer. Includes separate storage, secure parking and is pet-friendly. Amenities include a fitness centre, sauna, steam room, lounge, live-in caretaker, and concierge. This urban oasis offers everything for the ideal city lifestyle.

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I have sold a property at 401 73 Gorge Rd W in Saanich

I have sold a property at 401 73 Gorge Rd W in Saanich on Mar 21, 2024. See details here

Experience stunning Gorge Waterway vistas from this top-floor unit! Enjoy a waterfront lifestyle filled with enticing amenities. This lively community offers opportunities for kayaking, paddle boarding, leisurely walks along the waterfront promenade, beachfront tennis, gardening, indoor heated pool swims, and unwinding in the hot tub and sauna – all just steps from your doorstep! This generously proportioned unit has been well maintained and offers insuite laundry, modern finishings, and an open kitchen/living perfect for entertaining. The bedroom is exceptionally spacious, complete with a walk-in closet and a three-piece ensuite bathroom. Take in the lovely view as you cozy up in front of the charming wood-burning fireplace. Enjoy the added convenience of this centrally located gem, within walking distance to downtown Victoria and just a short commute to various amenities. Rentals are welcome, making this a versatile and inviting living space.

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New property listed in PQ Nanoose, Parksville/Qualicum

I have listed a new property at 3122 Dolphin Dr in Nanoose Bay. See details here

Discover coastal living in Nanoose Bay. Nestled amidst the beauty of Vancouver Island's west coast, this residence offers a serene retreat with unparalleled access to nature. Nanoose Bay boasts an abundance of outdoor activities; kayaking, scuba diving, mountain biking, boating and more! A Beautiful Marina & Fairwinds Golf Club are just moments away. Explore the nearby parks and trails, such as Moorecroft Regional Park or Englishman River Provincial Park. Enjoy beach access right across the street, where you can launch a kayak or go for a dip! Convenience meets tranquillity in Nanoose Bay, with a range of local amenities nearby. The well-maintained home features a lovely living room with large windows and vaulted ceilings. The south-facing backyard is drenched in sunlight. Take advantage of the full-height lower level ready for your ideas. Whether you seek outdoor adventure or crave the peace of coastal living, Dolphin Dr offers the perfect blend of both. SEE FEATURE SHEET FOR MORE!

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Open House. Open House on Sunday, March 10, 2024 1:00PM - 3:00PM

Please visit our Open House at A 2341 Sooke Rd in Colwood. See details here

Open House on Sunday, March 10, 2024 1:00PM - 3:00PM

Open House Sunday 1-3 Nestled in the heart of the Westshore community, this renovated home is a hidden gem! Featuring an open living space, 2 bedrooms, 2 bathrooms, plus den perfect for a home office or guest room. The kitchen and bathrooms showcase modern features, while the den adds versatility to your living space. The nearly 8,000 SqFt lot boasts a generous yard, providing space for outdoor living, along with secure storage and ample parking for trailers, RVs etc. With only a small section of shared wall at the rear of the home, this "Half-Duplex" feels like a single-family detached home. Convenience is key with this property - located close to all amenities. Priced below the new threshold for First-Time-Buyers property transfer tax exemption, along with the freedom of no strata fees, this an excellent starter home for those looking to get into the market. Positioned along the BC Transit Corridor this is an excellent holding property with future development potential.

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BC Property Transfer Tax Exemptions: What Homebuyers Need to Know about the Upcoming Changes

British Columbia's real estate market is poised for a transformation as the provincial government prepares to roll out changes to the Property Transfer Tax (PTT) regime. Among the most eagerly anticipated alterations are the revisions to exemptions for first-time homebuyers and the introduction of a Newly Built Home Exemption. These changes come with adjustments to price thresholds, promising significant benefits for aspiring homeowners and purchasers of newly constructed properties.

Effective April 1, 2024, these changes aim to enhance affordability and accessibility to homeownership, particularly for those entering the market for the first time or considering newly built homes. Let's delve into the details of these modifications and what they mean for prospective buyers.

First-Time Home Buyers' Exemption: The revisions to the First-Time Home Buyers' Exemption bring about an expansion of eligibility criteria and adjustments to price thresholds. Under the new framework, eligible first-time buyers will benefit from full or partial exemptions from the PTT, subject to the following price thresholds:

  • Fair Market Value of $835,000 or less is exempt from property transfer tax on the first $500,000 of the purchase price of the property.
  • Fair Market Value between $835,000 - $860,000 qualifies for a partial exemption for property transfer tax on the first $500,000 of the purchase price of the property.
Note: If you purchase the home before April 1, 2024, to receive the full exemption, the fair market value must be $500,000 or less. 

These revised thresholds represent a significant increase from the previous framework, offering greater relief to first-time buyers purchasing properties in higher-priced markets while still providing support for those seeking more affordable housing options.

Newly Built Home Exemption: In addition to the enhancements to the First-Time Home Buyers' Exemption, the introduction of the Newly Built Home Exemption aims to incentivize the purchase of newly constructed properties. This exemption applies to newly built homes purchased as a primary residence and is subject to the following price thresholds:

  • Full exemption: Effective April 1, 2024, the fair market value threshold for a full exemption for newly built homes is increased from $750,000 to $1,100,000.
  • Partial exemption: A partial exemption is also available for properties with fair market values just above the threshold. The phase-out range is $50,000 above the threshold, with the complete elimination of the exemption at $1,150,000 for qualifying purchasers. 
  • No exemption: For properties priced above $1,150,000 standard PTT rates apply.

Similar to the first-time buyer exemptions, these thresholds signify a significant expansion compared to the previous framework, reflecting the government's commitment to stimulating investment in new construction and fostering housing supply.

Impact and Considerations: The revised exemptions and price thresholds hold immense promise for prospective homebuyers, offering substantial tax relief and making homeownership more attainable. By aligning with current market conditions and affordability concerns, these changes aim to support individuals and families in achieving their homeownership aspirations.

However, it's essential for buyers to understand the intricacies of the revised PTT exemptions and seek professional guidance to navigate the process effectively. Real estate agents, mortgage brokers, and legal advisors can provide invaluable assistance in determining eligibility, calculating tax liabilities, and ensuring compliance with regulatory requirements.

Moreover, developers and sellers of newly built properties must familiarize themselves with the updated exemptions and communicate them transparently to potential buyers. By highlighting the financial benefits of the Newly Built Home Exemption, developers can attract purchasers and contribute to the vitality of BC's construction sector.

In conclusion, the upcoming changes to BC's Property Transfer Tax exemptions herald a new era of affordability and opportunity in the province's real estate market. With expanded eligibility criteria and adjusted price thresholds, first-time homebuyers and purchasers of newly built homes stand to benefit significantly. As these reforms take effect, stakeholders must remain informed and proactive in leveraging these opportunities to facilitate a more inclusive and vibrant housing landscape.

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Bank of Canada Holds Interest Rates Steady Amid Economic Uncertainty

On March 6, 2024, the Bank of Canada made its highly anticipated interest rate announcement, opting to keep rates unchanged despite mounting economic uncertainties both domestically and globally. This decision, made by the central bank, reflects a cautious approach towards monetary policy in the face of evolving economic conditions.

Amid a backdrop of geopolitical tensions, supply chain disruptions, and fluctuating commodity prices, the Bank of Canada maintained its overnight rate target at the historically low level of 1.75%. This decision comes after a series of gradual rate increases in previous years aimed at controlling inflation and supporting economic growth.

The central bank's decision to hold rates steady underscores the delicate balance policymakers are attempting to strike between fostering economic expansion and managing inflationary pressures. While economic indicators such as employment levels and consumer spending have shown resilience, there are lingering concerns about the sustainability of growth amidst external headwinds.

One of the primary factors influencing the Bank of Canada's decision is the ongoing conflict in regions that are crucial to global trade. Geopolitical tensions have led to increased volatility in financial markets and uncertainty surrounding future economic prospects. Additionally, disruptions to global supply chains have contributed to inflationary pressures, prompting central banks worldwide to carefully assess their monetary policy stances.

Furthermore, fluctuations in commodity prices, particularly oil, a significant export for Canada, have added to the complexity of the economic landscape. While higher oil prices can benefit Canada's energy sector, they also pose risks to consumers and businesses, potentially dampening economic activity and increasing inflationary pressures.

Domestically, the Canadian economy has demonstrated resilience in the face of external challenges. Employment levels remain robust, and household spending continues to support economic growth. However, there are signs of moderation in certain sectors, such as housing, where cooling measures have been implemented to address affordability concerns.

Moreover, the Bank of Canada is closely monitoring inflation dynamics, which have been elevated in recent months. While some inflationary pressures are transitory, stemming from supply chain disruptions and pent-up consumer demand, there are concerns about longer-term inflation expectations. The central bank aims to ensure that inflation remains within its target range of 1% to 3% over the medium term, balancing its mandate to support economic growth with its responsibility to maintain price stability.

Looking ahead, the trajectory of monetary policy will depend on evolving economic data and external developments. The Bank of Canada remains committed to conducting monetary policy in a data-dependent and forward-looking manner, with a focus on achieving its dual mandate of price stability and maximum sustainable employment.

In conclusion, the Bank of Canada's decision to hold interest rates steady reflects its cautious approach amidst a backdrop of economic uncertainty. While the Canadian economy has shown resilience, external headwinds pose risks to future growth prospects. The central bank will continue to monitor economic developments closely and adjust its policy stance as necessary to support sustainable economic expansion while ensuring price stability.

 
 
 
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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.