May 15, 2013
Victoria Real Estate Board

The Mustard Seed Family Centre received a boost today from the Victoria Real Estate Board (VREB) who donated $10,000 and named the Family Centre as VREB’s Charity of the Year. REALTORS® arrived onsite with a dozen slow cookers filled with nutritious family meals and cookbooks of the recipes used ­– one for each program participant to take home.

After the cheque presentation, a shared meal with staff and participants gave volunteers the opportunity to discuss other ways to help the Family Centre.

“Part of our community relations program is to volunteer in ways that provide value to organizations,” said Carol Crabb, VREB Past-President. “When we notified the Mustard Seed Family Centre that we had chosen them, we asked how we could help. Diane Pearson, the program coordinator, said she wanted to secure a Crockpot® for each person in the group to help them cook nutritious, budget-conscious meals for their busy families.”

Earlier this year, the VREB issued a call for proposals to local organizations that contribute to the well being of the Greater Victoria community. The successful proponent would receive $10,000 for a specific new project or initiative, as well as volunteerism and fundraising for the balance of the year.

“The Mustard Seed is helping families build an inventory of skills to help them succeed in life,” said Andrew Plank, VREB Community Relations Chair. “I’m so pleased that VREB is able to help in our small way, and look forward to helping support the families by other means.”

“We are truly grateful to the Victoria Real Estate Board for the generous donation and volunteer commitment to the Mustard Seed,” says Jackie Cox-Ziegler, Director of Administration for the Mustard Seed . “This is wonderful opportunity to work together to improve the lives of families living in poverty in Victoria.”

The Mustard Seed has been helping people living in poverty since 1975. The programs and services of the Mustard Seed are 100% community funded. They include Vancouver Island’s largest food bank, counseling, advocacy and outreach services, a drop-in centre, a coffee shop, clothing bank, haircuts, nursing and chapel, a Family Centre with life skills programs, and an addictions recovery program at Hope Farms Healing Centre. The Mustard Seed relies on approximately 40 volunteers per day to serve those in need.

The Victoria Real Estate Board has been the non-profit association of REALTORS® in Greater Victoria and the Southern Gulf Islands for 92 years. VREB provides information to consumers and government, local regulation to over 1,200 Members, and manages the Multiple Listing Service (MLS®) system for the use of its Members. VREB works throughout the region to help build healthy, sustainable communities according to its Quality of Life Principles.

May 11th, 2013

Have I mentioned I love going to garage sales? I find shopping at garage sales, thrift stores, and flea markets fun, and my boys enjoy them too. They find movies, toys, and books they like for a fraction of retail, making the meager allowance their parents provide go that much further. For myself, I’m always keeping an eye out for collectible cameras, interesting tools, art, useful household items and antique furniture, camping and fishing gear etc.

Some people may consider it “scrounging for junk”, but I enjoy it and think of it a a form of recycling. Shopping at them helps keep things sustainable by repurposing items and keeping them from going to landfill. Hosting a garage sale or making donations to thrift stores is a great way to ensure useful but excess items find new homes.

Garage sales are valuable on other levels too. Whether hosting or attending, there are many life lessons to be learned from garage sales. My boys are learning about negotiation, establishing what an item is worth (to them), “wants” vs. “needs”, etc. Each garage sale is like an archaeological dig, an opportunity to learn more about how different people live and what they value. It is often a very social event as well.

I am organizing the (Fifth annual!) Thetis Heights Neighbourhood garage sale again this year. We expect 20+ households to participate, and are already halfway there with confirmed hosts.

Mark your calendars for May 25th 9am-2pm and come help redistribute the wealth, preserve our environment, and maybe pick up a few deals while you’re at it.

If you live in the neighbourhood and wish to host a sale, please contact me for more details.

May 3rd, 2013

It’s that time of year again!

Andrew

Victoria Real Estate Board
May 1st, 2013

VICTORIA BC – Weighing in on the best April since 2010, Shelley Mann, President of the Victoria Real Estate Board, is cautiously optimistic that the Greater Victoria is back into a balanced market.

“Consumer confidence is increasing,” Mann says. “Our total number of sales for April is 615, a 5% increase compared to April 2012 with 586 sales. On the residential side, more properties are selling, and slightly fewer are entering the market, so we are moving from a buyers’ market to more balanced market conditions.”

Mann’s cautions that one month doesn’t indicate a market trend, but is encouraged by increased showings by REALTORS®, the number of sales, and comments from other REALTORS® about multiple offers on properties.

Prices remained relatively flat, as predicted by Cameron Muir, Chief Economist of the BC Real Estate Association. There were 367 single family homes sold in April at a median price of $540,000, a 16% increase of homes sold over April 2012. Condominium sales were 149 at a median price of $265,000 and with 62 townhomes sold at a median price of $415,450. There are 4,585 active listings.

Total Waterfront Single Family Dwellings sold: 15, up 2 over April 2012
Total Non-waterfront Single Family Dwellings sold: 352, up 36 over April 2012
Single Family Dwellings sold over $1 million: 30 (5 over $2 million)

April 30th, 2013

Come grab yourself a bargain!

April 18, 2013

When?: Saturday, May 25, 2013
Time?: 9:00am until 2:00pm

Mark your calendars for the 5th annual Thetis Heights Neighbourhood Garage sale.
As in previous years, this is a great community event.
Come out and join us and grab yourself a bargain!

At this time, we are taking details from anyone who wishes to partake – please drop me a line and we’ll get you set up.
Please pass on the word!

Watch this space for more details…..

Andrew

British Columbia Real Estate Association

The Bank of Canada kept its target overnight rate at 1 per cent this morning. In the statement accompanying the decision, the Bank forecast that the Canadian economy will gain momentum through the year following a weak second half in 2012, but slow growth through the first half of this year will limit real GDP growth to just 1.5 per cent in 2013 before rising to 2.8 in 2014. The Bank’s revised forecast means that the economy is now projected to return to full capacity in mid-2015, rather than in 2014 as previously predicted. A more persistent output gap will keep downward pressure on inflation, which is now expected to gradually rise to the 2 per cent target rate by mid-2015. The Bank continued to sound a much more dovish note on future rate increases, noting that the considerable policy stimulus currently in place will likely remain appropriate for “a period of time, after which some modest withdrawal will likely be required.”

With an expanding output gap and inflation trending well below its 2 per cent target, it is natural to ask if the next move by the Bank of Canada is a rate cut rather than the rate hike that almost all economists have penciled into their forecasts. However, unless the economy deteriorates much more or inflation trends much lower, the Bank is unlikely to lower interest rates since doing so would run counter to a year of loudly exhorting households to cut back on debt. Instead, the Bank will likely continue to use forward guidance about the need, or lack thereof, for future rate hikes in order to influence long-term rates and the Canadian dollar lower. The combined of effect of which should provide continued stimulus to the Canadian economy.

April 5th marked the 2012 MLS Awards Reception.
As one of the Directors of the Victoria Real Estate Board,
I would like to congratulate all the MLS winners this year.
What a great event the Awards Ceremony at the Union Club was.

Andrew

Latest statistics from Victoria Real Estate Board
April 2, 2013

Victoria Real Estate Board Current Statistics
March 1, 2013

VICTORIA BC – The Victoria Real Estate Board reports a total of 394 sales were processed through the Multiple Listing Service (MLS®) in February, an increase of 34% over the previous month. The highest activity was in single-family homes and condominiums.

Compared to February 2012, sales were down by 18.26%. Shelley Mann, President of the Board, says it’s more important to look at monthly trends and compare monthly buying behaviour year-over-year. “The trend lines for November, December and January are the same for the last three years.

“We’ve seen a slow increase in sales activity over the last three months and we still hold to our forecast of a modest 2-4% sales increase in 2013,” Mann says.

“The typical spring market is perking up. I spoke to 10 REALTORS® yesterday and nine said they are experiencing definite increases in their activity over the last two months and have a positive outlook. Many buyers are still waiting for prices to drop, but it’s clear to me that sellers are in a holding pattern regarding the value of their homes,” Mann says. “However, if a house is priced properly, within the market value range, it will likely sell more quickly.”

The median price of a single family home is $505,500 compared to $530,250 in February 2012, a decrease of 4.67%. The six-month average shows an increase of less than one percent year-over-year, and a less than one percent decrease over last month. “In other words, no change,” Mann adds.

There were 112 condominium sales in February, a 38.27% increase over January 2013. While the median price of $270,500 for condominiums is down 2.08% year-over-year, it increased 13.49% over January 2013. Townhouses saw increased sales in the past month with a median price of $337,500, which is down by 11.65% year-over-year and 10.82% since January 2013. Current active listings at the end of February were 4,072.

Total Waterfront Single Family Dwellings sold: 12, up 5 over February 2012
Total Non-waterfront Single Family Dwellings sold: 203, down 55 sales from February 2012
Single Family Dwellings sold over $1 million: 11 (3 over $2 million)