Sooke Community and Real Estate Blog 642Blog.ca

Last weekend, Coast Capital Savings and Royal LePage Coast Capital Realty in Sooke, BC, teamed up to sell golf balls & t-shirts and put on a bake sale to raise money for Cops For Cancer – Tour De Rock. The event was a huge success, raising $492.20 for the charity. A big thank-you goes out to the community and all of the employees at the bank and local REALTORS® who baked, bought, and volunteered to make this event a success.

Lots of goodies at the bake sale!

“What Can I getcha?!” – Tim Ayres – Royal LePage Coast Capital Realty

Popularity: 5% [?]

Tagged: charity | Community | cops for cancer | REALTORS®

Unwavering Demand Supports Rising Canadian House Prices in Third Quarter

Saskatoon, St. John’s and Saint John report extremely strong activity

TORONTO, September 27, 2007 – Canada’s resale
housing market remained on solid ground during the third quarter as
high consumer confidence, strong employment rates and stable interest
rates led to robust buyer demand prompting average house prices to rise
in all major markets, year-over-year, according to a House Price Survey
report released today by Royal LePage Real Estate Services.

Of the housing types surveyed, the highest average price
appreciation occurred in standard condominiums, which rose to $241,818
(+15.7%), followed by standard two-storey properties, which rose to
$407,613 (+13.4%), and detached bungalows, which increased to $340,941
(+14.3%), year-over-year.

“Much like the Canadian dollar, the Canadian housing market is
charting its own course, quite independent from the United States and
its currency and housing climate. The strength of the Canadian dollar,
and the fact that the country is adjusting well to its value, will
continue to keep interest rates at their existing low-to-moderate
levels, boding well for buyers looking to enter the market,” said Phil
Soper, president and chief executive, Royal LePage Real Estate
Services. “From coast-to-coast, the country’s rich commodity markets
have had tremendous impact on local economies, and there is no
indication that this will change anytime soon.”

A wave of interest in Canada’s natural resources including oil,
gold, uranium and wheat swept across the country, and introduced some
new cities in central and eastern Canada to the trend of significant
house price appreciations in the third quarter.

Trumping Alberta’s two largest cities, Saskatoon’s housing market
experienced the highest price appreciations in all housing types
examined. Vancouver, Calgary, Edmonton, Regina and Toronto also
experienced double-digit average price gains.

Added Soper: “Despite the rising house prices across the country,
recent Statscan reports cite that the home ownership rate stands at its
highest on record. With the combination of the cost of borrowing money
remaining relatively low, the availability of longer mortgage
amortization periods, and the fact that Canada’s population continues
to grow, it is no surprise that more and more people are entering the
real estate market.”

Of note is the increasing trend of home ownership in Montreal, a
city where renting historically trumps owning. While Quebec reports the
lowest rate of home ownership in the country, the number of people
buying houses is growing; a trend likely driven by first time buyers
who, in contrast to entry buyers a decade ago, see more value in owning
their own house.

While the energy rich west has reported unwavering high consumer
confidence and high employment rates for the past several years,
central and eastern Canada are now rising alongside their western
counterparts as their local commodity industries receive increased
attention.

The oil sector remained a bright spot for Alberta and continued to
fuel buyer demand; however, the rate of price appreciation and the
intensity of the housing market scaled back from where it was 14 months
ago.

Both Saskatoon and Regina experienced a surge in demand, as levels
of in-migration were high during the third quarter. Many native
Saskatchewan residents returned to the province from the west, seeking
more affordable housing and better work life balance.

In Central Canada, Toronto’s housing market continued to set records
throughout the summer, and is poised for continued activity and rising
average house prices as the city continues to attract both buyers
relocating to the city centre from the suburbs, and newcomers to the
country.

In Atlantic Canada, the past few months have seen both Saint John
and St. John’s become the ‘Calgarys’ of the east, as several
energy-related projects in New Brunswick and Newfoundland gain
attention. While Halifax is not directly related to the oil industry,
the city is experiencing a spill-over effect as many executives are
moving to the area to be in close proximity to the oil projects.

Stronger than expected summer real estate activity characterized Vancouver and Victoria’s
resale housing markets, prompting prices to rise significantly during
the third quarter. With the high levels of in-migration that Vancouver
experiences, demand for homes in all price ranges and in all parts of
the city remains high, while inventory levels remain the same as last
year. A strong economy, low unemployment rates and high consumer
confidence contributed to the strength of Victoria’s housing market.

[Click below for full-size table]

-Tim Ayres, REALTOR – Royal LePage Coast Capital Realty – Sooke

Popularity: 8% [?]

Tagged: Canada | economy | house price survey | Market | Real Estate | Royal LePage

Hello fellow professionals. More evidence today from the BC Real Estate Association that our market in British Columbia is continuing to thrive despite the implosion in the United States brought on by the sub-prime mortgage issues and economic difficulties. Below is the release. Those of you with blogs or e-mail newsletters, you need to get this information out there. Post it, e-mail it. Don’t assume they’ll hear about it on the news or in the paper. Every day we’re asked questions from people who are nervous about buying or selling, because they assume that what is happening in the US is also affecting us. Spread the good word!

-Tim Ayres 

BC Home Sales to Surpass 100,000
BCREA Fall Housing Forecast

Vancouver, BC – September 27, 2007. The British Columbia Real Estate Association (BCREA) released its fall 2007 Housing Forecast today.

BC Multiple Listing Service® (MLS®) home sales are forecast to break the 100,000 unit mark for only the second time in history. BCREA forecasts that BC MLS® residential sales will hit 101,000 units this year, up 4 per cent from 2006. The highest number of MLS® sales in the province was recorded in 2005, when a total of 106,310 homes were sold. The ten-year average is just under 78,000 units.

“Exceptionally strong consumer demand over the summer months has changed the outlook for this year from declining home sales to the second highest on record,” said Cameron Muir, Chief Economist. “While eroding affordability is squeezing some potential buyers out of the market, the housing stock is increasingly diverse, providing a mix of home types that appeal to a wide consumer market.”

BC home prices are also on the rise. The average MLS® residential price is forecast to climb 12 per cent to $437,000 this year. “While home prices continue to face upward pressure, the rate of growth is expected to moderate,” added Muir. The BC average MLS® price increased 18 per cent last year, and is forecast to rise at a more modest 8 per cent in 2008.

BC housing starts are forecast to decline 7 per cent to 33,900 units in this year and a further 4 per cent to 33,000 units in 2008. While single detached housing starts are trending down, multiple housing starts are holding firm at 21,000 units this year. Multiple housing starts now comprise 62 per cent of all new residential construction activity in the province.

The BCREA Housing Forecast is a semi-annual publication produced in the spring and fall of each year. The report contains forecasts and analysis of the BC economy and housing markets, including detailed forecasts by home type of the province’s 12 real estate board areas.

A complete copy of BCREA’s Housing Forecast is available here: www.bcrea.bc.ca/economics/forecasts/2007-09Forecast.pdf.

Popularity: 6% [?]

Tagged: Canada | economy | housing | REALTORS® | Sub-prime | USA

BC Home Sales to Surpass 100,000
BCREA Fall Housing Forecast

Vancouver, BC – September 27, 2007. The British Columbia Real Estate Association (BCREA) released its fall 2007 Housing Forecast today.

BC Multiple Listing Service® (MLS®) home sales are forecast to break the 100,000 unit mark for only the second time in history. BCREA forecasts that BC MLS® residential sales will hit 101,000 units this year, up 4 per cent from 2006. The highest number of MLS® sales in the province was recorded in 2005, when a total of 106,310 homes were sold. The ten-year average is just under 78,000 units.

“Exceptionally strong consumer demand over the summer months has changed the outlook for this year from declining home sales to the second highest on record,” said Cameron Muir, Chief Economist. “While eroding affordability is squeezing some potential buyers out of the market, the housing stock is increasingly diverse, providing a mix of home types that appeal to a wide consumer market.”

BC home prices are also on the rise. The average MLS® residential price is forecast to climb 12 per cent to $437,000 this year. “While home prices continue to face upward pressure, the rate of growth is expected to moderate,” added Muir. The BC average MLS® price increased 18 per cent last year, and is forecast to rise at a more modest 8 per cent in 2008.

BC housing starts are forecast to decline 7 per cent to 33,900 units in this year and a further 4 per cent to 33,000 units in 2008. While single detached housing starts are trending down, multiple housing starts are holding firm at 21,000 units this year. Multiple housing starts now comprise 62 per cent of all new residential construction activity in the province.

The BCREA Housing Forecast is a semi-annual publication produced in the spring and fall of each year. The report contains forecasts and analysis of the BC economy and housing markets, including detailed forecasts by home type of the province’s 12 real estate board areas.

A complete copy of BCREA’s Housing Forecast is available here: www.bcrea.bc.ca/economics/forecasts/2007-09Forecast.pdf.

Popularity: 8% [?]

Tagged: 2007 | BCREA | Fall | Forecast | homes | houses | housing | properties | sales

Furthering our discussion on Web 2.0, this short video helps explain a little more as to what the buzz-word is all about.

Some of this may seem abstract, and the end of the video relates more to software and application developers, but the basic concept is good, and this video gives you a good idea on how the Web has changed and what is the future of the Internet.

If Web 2.0 is engaging users (people), then it should not take too much of a semantic leap to make the connection to our profession. The bar has been raised as to the type of content the user wants to see. It won’t be sufficient any longer for you to post a static, boring listing. Users will want the ability to interact with your content – comment on your listings, post reviews of your services, pose questions on your forum, upload pictures of their neighbourhoods, or provide other users with objective advice on your content and your professional services.

Please comment and discuss!

-Tim 

Popularity: 6% [?]

Tagged: Community | Internet | REALTORS® | Tech Tips | web 2.0

Those that live here know you don’t need a reason, but here are ten for those that still think Sooke is “out there, man!”

1. Lower housing prices: The Sooke market has been undervalued for years, and is still catching up to markets closer to major employers in Victoria and on the naval base at Esquimalt. It’s not uncommon to find as much as a $100,000 spread between comparable homes in Sooke and Langford, and more between Sooke and Saanich or Victoria. You usually get a bigger lot out here as well.

2. Schools: Sooke has good ones, including Edward Milne Community School, one of the newest and most modern high schools in the area. A new elementary school at Sun River Estates is planned for the coming years. Sooke is also one of the only communities in Greater Victoria with all three levels of French immersion (K-12) close by.

3. Natural Splendour: Sooke is located at the south-western tip of Vancouver Island, and is situated amongst some of the greatest natural beauty in the province, if not the whole country. World-famous sites such as East Sooke Park, the Juan De Fuca Marine Trail, and the West Coast Trail are nearby. In the evenings and mornings, there are deer everywhere, and you might even spot a black bear from time to time. The coastline stretches on and on, and winter storms are great to watch from Whiffen Spit Park.

4. Recreation: The aforementioned parks have spectacular hiking trails and coastal vistas. There are surfing beaches in nearby Jordan River, and excellent mountain biking to be had in the Sooke Hills and Broom Hill. We have a modern swimming pool and arena (which has the best ice in the region). Fishing, fishing, fishing. I have yet to go out and not catch at least a few nice salmon. There’s a reason why there are so many charter companies out here – people come to fish! There are also numerous neighbourhood parks and green spaces. Most new developments include some sort of trail or natural area dedicated by the developer.

5. New Developments: And speaking of new areas, Sooke is on the move upwards. Since the construction of the Sooke Core Area Sewer System in 2003-2005, density and mix of housing is all increasing. No longer restrained by large lots for septic fields or costly and cumbersome treatment plants for multi-unit dwellings, developers are turning to Sooke to build new subdivisions and a mix of more affordable housing like condominiums and townhouses. The downtown core is set for a revitalization plan which will improve the area of the village and provide more amenities for residents and visitors.

6. Low Taxes: Sooke enjoys the lowest property taxes on southern Vancouver Island. Even with the new $500/year sewage generation charge on those properties connected to the sewer system, we’re still the lowest. With sustained growth and more money coming in from increased commercial activity, we hope to keep it that way, too.

7. The drive isn’t that bad: Sure, the prospect of driving for more than 10 minutes to get anywhere frightens native Victorians. But for those that come from larger areas, the 40-50 minute drive into town from Sooke is nothing. It is a simple reality of a town becoming a city. You’ll have to commute. Plus, it really is an enjoyable drive, especially on a sunny morning.

8. Peace and quiet. My house is only a block or so off the highway, but it’s so quiet at night I can hear the waves crashing on the shore, more than 3 kilometres away. The big lights from the big city are nonexistent; the starscape from my back yard is nothing short of stunning.

9. Arts and Culture: Sooke has a very active art and culture scene. From plays at the Edward Milne School to the Sooke Philharmonic Orchestra, we’ve got it covered. There are numerous art shows and gallery tours throughout the year.

10. Rural Charm: Sooke still maintains its seaside rural charm that is missing from many communities here on the Island and in BC. While there is intensive re-development, it’s still quiant enough to call a village, and many of the older long-time residents and businesses that give the area its character are still here.

So there you have it. 10 good reasons to make the move out west to Sooke. Now excuse me, my dog awaits her daily run along the seaside.

-Tim

Popularity: 10% [?]

Tagged: BC | Sooke | Victoria

FOR IMMEDIATE RELEASE:

Tim Ayres of Royal LePage Coast Capital Realty Nominated for Director Position

86th annual election meeting scheduled for 3:00 PM Tuesday, October 9, 2007 at the Delta Ocean Pointe Resort.

Tim Ayres – a real estate licensee since December of 2004 is seeking election to the Victoria Real Estate Board of Directors. Tim is an active and top-achieving salesperson in the Sooke, Langford, and Colwood areas and has been active on the Board’s standing committees for the past two years (Technology committee – 2006, MLS® and Computer Services Committee – 2007).

Tim Ayres is well known in the industry for being on the leading edge of technological innovation and its application to the practice of real estate sales and marketing. He maintains a close watch on industry trends and administers the region’s only REALTOR®-focused blog at www.VictoriaBCRealEstateBlog.com, which chronicles the fast-paced world of technology and REALTOR®-related issues, market news, technology tips and advice, product reviews, and local, regional and national politics affecting the industry, making Tim a perfect fit to advise the Board and the Membership on these issues.

Since leaving his previous brokerage, Tim can offer valuable insight into the ‘alternative business models’ to the Board and its members.

Easy-going, hard-working and dependable, Tim has already demonstrated that he is committed to representing his peers at the committee level, and looks forward to representing their needs and desires and helping to shape a bright future for the Board as Director.

Popularity: 6% [?]

Tagged: Board News | Election | REALTORS® | VREB

This is probably the biggest news since WebForms™ was introduced a few years ago. Remember how that made your life so much easier?

First, the official news release from the Board:

New StrataDocs Online Service for REALTORS®

Helps Buyers of Strata Units

The Victoria Real Estate Board (VREB) has introduced a new online service for its REALTOR® members called StrataDocs Online that will make it much easier for buyers of strata units to obtain important documents.

Under the system, REALTORS® can obtain online all the required documentation buyers need when purchasing a strata unit, such as copies of the strata bylaws and minutes of meetings. REALTORS® can then email these documents directly to buyers, saving considerable time and effort. Previously, REALTORS® had to request the documents from the strata council, or property management company, and wait for photocopies to be made. The program also allows strata unit owners access to their documents at no charge.

VREB President, Bev McIvor, says StrataDocs Online is a first for British Columbia, “We are the first Board in the province to have introduced this program which was developed for us locally. We’ve launched the programme with three condominium buildings online and are now working closely with property management companies to get many more buildings included in the system.” McIvor added that the property management companies will be responsible for ensuring that all relevant documentation is available on the system and is kept up to date. “We invite property management firms and independently managed stratas to contact us to learn more about how they can participate in this new program.”

McIvor noted that other real estate boards in the province have expressed considerable interest in working with the VREB to implement a similar program in their respective areas.

Why is this such big news? Well, as the release says, once more buildings and property managers are on board, you won’t have to wait the sometimes agonizing wait for documents. With the exception of a Form B Information Certificate, you will be able to have everything ready for a potential buyer on a moment’s notice. You’ll have a permanent, electronic copy that you can keep for the next time you have a unit in the complex (think of marketing yourself as a “building expert”). You can forward them via e-mail to an out-of-town buyer. Or, forward them to your internet fax (see my earlier post) and away they go via fax, anywhere in the world, without you wasting any paper.

And the best part? It doesn’t cost you a cent more. You’re still paying for the documents from the strata management company, but no premium for the StrataDocs service. It’s a win-win for everyone involved.

This technology was developed in-house at the Victoria Real Estate Board and has been a couple of years in the making. You may remember having the opportunity to demo the system at the VREB Tech Fair last November. The implications of this being a proprietary software are huge, too. The Board could license the tech to other real estate boards in other markets in exchange for a license or subscription fee. It could be a great source of income for the board and could reduce our fees.

The Board is recognized industry-wide for being an innovator in the technological arena and it’s no surprise that they’ve developed a sure winner with StrataDocs Online.

Popularity: 38% [?]

Tagged: Board News | Internet | REALTORS® | Suppliers | Victoria | VREB | web 2.0

I am a child of the electronic age.

I had an Atari, and then a Nintendo (the ORIGINAL one). I even had a Commodore VIC 20. I loved science kits growing up. I Had a microscope, walkie-talkies, and my parents had to keep a supply of old junky telephones, etc. in the house so I wouldn’t take apart their stuff. I was AMAZED with this new innovation of the PC back when only the rich kids had them at home (I didn’t). In short, I’m a geek.

I’m not sure what kept me out of pursuing computers as a career. I could certainly work in computers. I like solving problems, and have a knack for understanding electronic issues.

So it’s no surprise that I combine my career in real estate with my geekdom and seek out new ways to apply technology to marketing and selling property.

In this series, I’ll fill you in on what a true real estate geek loves the most, and on what can help you in your day-to-day business.

Today: Internet fax services.

I hate faxes. And in today’s electronic world, I’m not sure why they’re still so popular. Think about how inefficient a fax machine is. It requires a phone line, when you’re probably already paying for a broadband (high-speed) internet connection that could be used to scan and then e-mail a document much more quickly, and to multiple recipients. Faxes are slow, too. Especially when you’re faxing an agent that’s been in the business since, well, God was a boy, and still has his Model X-2000 fax from 1984. And don’t even get me started about thermal paper faxes. Alas, I suppose they are necessary until we can ween ourselves off of this old technology.

Enter Internet faxing. Internet fax services have been around for a number of years. The basic premise is this: You get a dedicated fax number just like any other fax number. Any faxes to that number get converted into an electronic document (usually a .pdf) and e-mailed as an attachment to whatever e-mail address you choose. To send a fax, you can do one of two things. 1: use your old fax machine as normal. 2: Scan the document, attach it to an e-mail, and send it to the fax service, which will convert it into a fax and send it to the fax number of the recipient. Of course if you were creating the document on a computer, you could just attach it to the e-mail and send it away. No more printing and then walking to the fax machine; you’ll save paper too (hug a tree!)

How convenient is that? And that’s just the surface! Think for a minute about how much better this is. Anywhere you can access your e-mail, you can access your fax. It’s like lugging the office machine around with you in your pocket! In a mobile industry such as ours, this is invaluable. Print counter-offers at your client’s house. Forward documents to conveyancing. The possibilities are endless.

And one final note about internet faxing. It creates an electronic paper trail. You can print a log of your faxes just like any other fax machine. And any fax you receive is archived on your computer. You can save them all to a special folder, and keep them for posterity – you never know when your diligence with your documents will be questioned.

For more information on internet faxing, check out E-fax, MyFax, or Telus

-Tim

Popularity: 6% [?]

Tagged: Internet | REALTORS® | Suppliers | Tech Tips

Is the continued diversion of Canada’s economy from the USA’s a sign that we’ve grown up?

Picture two brothers. The older brother is wildly successful, and the younger brother looks up to his senior sibling all his life, often modeling certain parts of his life after his counterpart. The years go on, and younger brother experiences success also, all the while following the elder’s advice.

One day, younger brother sees a change in older brother. He’s out too late, partying too much, spending too much money on unwise and risky investments. Younger brother decides he’s learned enough over the years and strikes out on his own, making his own decisions, taking his own chances. Sadly, he watches his older brother in a downward spiral into financial trouble and economic uncertainty. Strangely, younger brother’s success is now independent of his older brother. He’s grown up now.

It’s not exactly a subtle parable, I know, and perhaps a tad on the trite side. But I think it can help many understand what is going on in the North American economy. The US is in a tailspin, while we’re flying high. Our economy is booming, while there is talk of the dreaded “R-Word” in the US.

The sub-prime mortgage issue in the states has not affected us here in Canada as much as many thought it would. When the story broke, people started to panic. Our economy, for so long, has been tied to the fortunes of the larger, more powerful economy of the USA, that people were certain that it meant economic doom north of 49. But it didn’t. Canada’s economy has come of age.

But why? Anyone with a basic understanding of economics can see that Canada is in a much healthier position than the USA for a strong economy. The US economy is largely based on consumer spending. If they stop buying things, it slows the economy down. The US is a net importer; their trade deficit is enormous. Canada is a net exporter. And what we export is in demand. Oil, forest products, minerals, metals, grain. Demand from Asia has partially replaced some of the lower demand from our number one trading partner, the USA (due to their flagging dollar).

And the strong Loonie helps too: much of what we buy in Canada is imported. As our dollar climbs, importers can bring goods in more cheaply and either pass on the savings to consumers, or make more profit, further fueling the economic cycle.

Finally, Canada’s successful economy vis-a-vis the American one is also partly due to divergent fiscal policies between the two countries. We saw what was going on down there and struck out on our own. We watched inflation carefully. Canadian banks didn’t risk it with the sub-prime lending.

Can we sustain this pace without the larger economic powerhouse of American consumer spending buying our goods and services? It’s unknown at this point – we’ll have to wait and see. Or has the time of the US economy setting the pace for the North American economy come and gone?

-Tim

Popularity: 10% [?]

Tagged: Canada | economy | mortgage | Sub-prime | USA