Sooke Community and Real Estate Blog 642Blog.ca

Modern homes in Victoria, BC. Photo: pnwra on Flickr

It’s once again time to look at our “on the street” snapshot of Victoria-are real estate buyer activity. April’s data from our Member Market Survey has just been released by the Victoria Real Estate Board. Each month, agents who’ve completed a transaction while acting for a buyer are polled on various questions about their buyers. The goal is to get a snapshot of the situation on the street directly from agents who are actively involved serving their clients.

Highlights from this month’s data:

• The trend of decreasing number of first-time buyers continued, with  19.23% identified as such
• Nearly one-third of buyers were moving from one property to a similar one. Perhaps this correlates with the lower number of first-time buyers in recent months; after they sell their smaller homes to first-timers, this set of buyers is now shopping for their ‘move-up’ house.
• This month, single females bought fewer houses than single males.
• As usual, the fast majority of buyers (67%) moved within the greater Victoria area. The next largest group came from within Canada, but outside B.C.
• The Western Communities were more popular with buyers than the Saanich Peninsula.

As our inventory of properties on the market increases, there continues to be more choice in the market for buyers. Not surprisingly, most agents were reporting fewer instances of multiple offers (54 vs 12 reporting more multiple offers).

Check out the full details of this month’s survey here.

-Tim Ayres – Sooke Real Estate Professional

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Tagged: 2010 | April | buyers | data | housing | Market | Statistics | stats | survey | Victoria | VREB

On May 15, 2010, in support of the Royal LePage Shelter Foundation, Royal LePage REALTORS® across Canada will be holding massive garage sales in their communities. Building on the success of last year’s event, Royal LePage Coast Capital Realty will be holding what we believe is the largest garage sale in Victoria history!

With the generous support of our clients, friends, and AMJ Campbell Van Lines, we’ve been able to amass more than 8 storage containers of household items, furniture, knick-knacks and more garage sale treasures. The response from the community has been overwhelming and you’re definitely not going to want to miss this sale. There will be deals galore, and all for a great cause.

The Royal LePage Shelter Foundation is our national charity, which supports local women’s and children’s shelters and national violence prevention programs. The best thing about the Shelter Foundation is that because its administration costs are covered by Royal Lepage, 100% of every dollar donated goes towards women and children in need.

The sale will run from 9:00 to 3:00 and is being held at AMJ Campbell’s warehouse in Langford at the corner of Jacklin and West Shore Parkway [map]. Enter off West Shore Parkway and look for our REALTOR® volunteers and signs.

Check out this short video (click through if you can’t see it on your email or feed reader) showing the sheer volume of stuff we have to sell. Last year, lots of great stuff went for a quarter, so you’re sure to get some great deals!

-Tim Ayres – Sooke Real Estate Professional

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Tagged: 2010 | BC | deals | furniture | garage sale | household | realtors | Royal LePage | sale | Shelter Foundation | used | Victoria

This Thursday, April 29th, 2010, Vancouver-based entrepreneur Stephen Jagger and professional sales trainer Shane Gibson will be at the Downtown Victoria Chapters store to launch their new book, Sociable! How Social Media is Turning Sales and Marketing Upside-Down.

The event starts at 5:30 with a networking opportunity for social-media-curious businesspeople, and then a presentation from Steve and Shane about social media and the unique way they wrote the book. Q&A will follow, and Shane and Stephen will sign your copy of the book.

If you’re interested in learning how social media can help your business, I’d highly recommend you attend this event and pick up a copy of the book. Many of the ideas and methods they teach I have used to build my business, and in today’s business world, it’s not acceptable to answer “What’s your social media strategy?” with a blank stare.

The event is free, and you can confirm your attendance here. Invite your friends and business associates – after all, social media is all about “the more, the merrier!”

-Tim Ayres – Sooke Real Estate Professional

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Tagged: BC | book | chapters | how-to | launch | marketing | sales | shane gibson | sociable | social media | stephen jagger | Victoria

I’ve always been a fan of strata duplexes – and I’ve never understood why some people shy away from them. Often, I find the same people who would not buy a duplex would quite readily buy a townhouse, which seems counter-intuitive to me.

A strata duplex is a duplex which is registered under the Strata Property Act. The purpose of such registration is to allow each side to have a separate title, and therefore, enable each side to belong to different owners. You could think of a strata duplex as a 2-unit condo or townhouse complex. Each side is a separate strata lot (like each unit in a condo building), and the common property is the exterior of the building including the roof, and sometimes, a common driveway. Usually the yard area is designated as limited common property: common property designated for the exclusive use of a certain strata lot.

The difference between a strata duplex and a condo or townhouse lies in the way the Strata Property Act affects the owners. Typically, strata duplexes are much less formal than condos or townhouses. Technically, they are subject to the same rules and regulations as any other strata – they must have a council, records, bylaws, collect strata fees, and contribute to a contingency fund. However, in practice, most strata duplexes do none of this. Beyond splitting the cost for insurance (a fire/earthquake policy covering the exterior of the building and common property liability) and common property maintenance and repairs (cleaning gutters, roof maintenance, etc), there is very little strata-like business that goes on in a strata duplex.

Strata duplexes are great because they are often larger and cheaper than a comparable townhouse, and don’t have some of the potential headaches that come with strata property ownership. Instead of 50 other owners to deal with and make happy, there are two. Good neighbour policy will prevail in most cases and the owners will come to an agreement about repairs and maintenance. In addition, you will often find that strata duplexes have much larger lots than the tiny postage-stamp that you’d have in a townhouse.

Sometimes, you can find a half duplex with a rental suite in it, making it ever-more-affordable and potentially attractive from an investor’s standpoint. It’s important to note, however, that most suites in duplexes are unauthorized.

If you’re considering buying a townhome or condo, you should look into a half duplex – you might be surprised to find a great alternative. If you decide to buy a half duplex, it would be wise to inquire with the owner of the other half about maintenance responsibilities. Obviously, it’s no good to replace just your half of the roof if the whole thing is getting to the point of replacement and the other owner refuses or doesn’t have the money. You’ll want to ensure the other owner is on the same page as you about replacing it.

If you’ve got a strata duplex to sell, and want an agent who understands this market segment, I’d love an interview. For more information about strata duplexes, including current listings, contact me.

-Tim Ayres – Sooke Real Estate Professional

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Tagged: alternative | BC | bylaws | Condo | duplex | fees | rules | Sooke | Strata | Townhouse | Victoria | what is

Last month’s data from our Member Market Survey has just been released by the Victoria Real Estate Board. Each month, agents who’ve completed one ore more transactions while acting on behalf of a buyer are polled on various questions about their buyers. The goal is to get a snapshot of the situation on the street directly from agents who are actively involved serving their clients.

Highlights from this month’s data:

• First-time buyers did not represent the largest segment of the buying population, with 27.85% identified as such
• More people moved into a condo or townhouse from a single family home than vice versa (10.76% vs 8.23%).
• Once again, single females bought more properties last month than single males. (23 vs. 16)
• One in five buyers were classified as empty-nesters/retired.

Check out the full details of this month’s survey here.

-Tim Ayres – Sooke Real Estate Professional

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Tagged: 2010 | buyers | data | housing | march | Market | Statistics | stats | survey | Victoria | VREB

A Basement Suite (complete with The Sopranos on TV)

The District of Sooke is currently investigating the secondary suites issue, and is looking for feedback from residents about suites. At issue is the potential for legalizing secondary suites (also known as basement suites or apartments) in more zones in the District. Currently, suites are only allowed in dwellings on lots with a certain zoning applied to them.

Despite this fact, many property owners in Sooke have created secondary suites to rent out to help with the mortgage, or generate revenue. As the District isn’t in the business of evicting tenants, they’ve for the most part let it slide. It only makes sense for them to regulate and control all suites in the district, allowing them to ensure first that they are properly constructed and safe for habitation, and to collect extra revenue to recoup the additional strain on municipal resources such as sewage, fire, and police services.

Secondary suites are essentially the main type of rental housing in Sooke. There are very few purpose-built rental apartments, and many of the privately-owned condos are subject to rental restrictions. This has become the case in many municipalities in the greater Victoria region, as financial incentive for a developer to build rental apartments has been virtually non-existant since the 70s – instead, they opt to build and sell condos.

Visit the District Of Sooke’s web site to take the survey on secondary suites, and ensure your voice is heard.

Got an opinion on secondary suites? Post a comment and start the discussion!

-Tim Ayres – Sooke Real Estate Professional

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Tagged: affordable | are suites legal | basement | bylaw | council | district | housing | illegal | legal | rental | suites | Victoria

House for Sale in Sooke

Ah… springtime… when a young person’s thoughts turn to… buying a home, of course! The spring market is here, and many first-time buyers are taking advantage of record low interest rates and making the jump into their own homes.

How much do you need and how can you save for a down payment? What’s the best type of mortgage for you? What homes are available and what sorts of programs are out there to help a first-time buyer?

How will the upcoming mortgage rule changes affect my affordability? Will the HST spoil my dream of home ownership?

All these questions and more will be answered at a fun, free, interactive seminar I’m putting on next month with two other professionals.

A Certified Financial Planner will talk about how to save for that ever-important down payment, and government programs to assist home buyers. Find out the details of how to borrow from your RRSP tax-free to help you buy a house, and other tricks of the trade.

Robert Boyd, Mortgage Expert with Dominion Lending will present on the various types of mortgages that are available, how to apply, and how to get the best rate possible to save you money. Learn about mortgages and rates, amortization and prepayment and take the mystery out of mortgages

Tim Ayres (that’s me!), REALTOR® with Royal LePage Coast Capital Realty will walk you through the home-buying process – how we search for a home together, showings, offers, negotiation and finally, getting the keys to your new home. Find out what to look for, how to ensure you get what you need, and how having an experienced REALTOR® on your side can help.

When: Tuesday, March 30th, 2010, 7PM.

Where: Investors Group Westshore office, 201 – 630 Goldstream [map] – [street view]

The seminar is free, but we have limited space, so please phone me at 250-885-0512, fill in the form below or visit TimAyres.ca/seminars for more information.

-Tim Ayres – Sooke Real Estate Professional

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Tagged: BC | buyer | down payment | first time | free | home | house | information | Langford | mortgage | Real Estate | rrsp | seminar | Sooke | Victoria

The Johnson Street Bridge, Victoria. Photo credit: Sylpherware on Flickr

The latest data from our Member Market Survey has just been released by the Victoria Real Estate Board. Each month, agents who’ve completed a transaction while acting for a buyer are polled on various questions about their buyers. The goal is to get a snapshot of the situation on the street directly from agents who are actively involved serving their clients.

Highlights from this month’s data:

• First-time buyers represent the largest segment of the buying population, with 36.5% identified as such
• Interestingly, the number of people moving from a single family home to a condo or townhouse was nearly the same as those moving from one property to a similar one.
• Single females bought more houses last month than single males.
• Only one buyer came from outside of Canada last month.

Check out the full details of this month’s survey here.

-Tim Ayres – Sooke Real Estate Professional

Your comments are welcomed and encouraged!
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Tagged: 2010 | buyers | data | February | housing | Market | Statistics | stats | survey | Victoria | VREB

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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Tagged: condos | Development | estates | FAQ | homes | how many homes | new | Sooke | Sun river | Sunriver | tim ayres | townhouses | Victoria

Image Credit: Jeffery Simpson on Flickr (Click for profile)

I was one of those people before. I had no interest in taking the ferry to Vancouver and braving the crowds, lines and security to hang out downtown. What’s the big deal?

I was wrong. I returned from Vancouver yesterday totally energized and excited about the Games. The city is simply buzzing with activity 24 hours a day. Yes it’s busy, yes it’s crowded, but that’s half the fun. If you’re complaining that the Olympics are a 2-week party for the rich, you’re dead wrong. I didn’t have a ticket to any events, nor a plan or a list of attractions I wanted to see. I spent next to nothing, but felt like I took in everything.

And it couldn’t be easier for us in the greater Victoria area. BC Ferries has added an early morning (6:00am) and late evening (midnight) sailing for your convenience. Bus to or park at Swartz Bay terminal, walk on the ferry. Take one of the many buses outside the Tsawwassen terminal and get on the Canada Line downtown. Quick and easy. There might be a lineup, but with trains coming every 3 minutes or so, you won’t be waiting long. I never had to wait for more than one train before being able to get on. Wander around, explore. Take in some of the free entertainment at the various pavilions. See the Olympic flame burning outside the convention centre. Feel the vibe and enjoy the spirit!

Watch the events unfold from numerous outdoor high-definition screens. There really is nothing like it – standing on the street, cheering on our athletes with 1000 of your closest friends. Everyone is smiling, waving flags and having a great time.

The Richmond O-Zone is great too. Just steps from the Richmond-Brighouse Canada Line station, this 60-acre site includes a large mainstage with free concerts all Games long, beer gardens, restaurants, arts and culture displays, the ever-popular Holland Heineken House, and BC Street, where you’ll find displays from all over our glorious province, enticing the world to come and visit. Sooke’s booth has really stolen the show, people absolutely love it.

Try out the Olympic line – an electric streetcar (with comfy leather seats!) on loan from Brussels, Belgium – and you thought sprouts were the attraction from Brussels. It runs from Olympic Village Canada Line station to Granville Island, where you can take in even more Olympic fun, including House of Switzerland, and Atlantic Canada House.

I had an awesome, exciting weekend and didn’t spend a lot of money. Transit is cheap and reliable, and with so much free stuff to do, you’d be remiss not to take it all in.

-Tim Ayres – Sooke Real Estate Professional

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Tagged: 2010 | bc ferries | Bus | canada line | free | free events | free stuff | fun | olympics | transit | translink | Vancouver | Victoria