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Showing posts from May, 2018

Residence 1 Now Sold Out!

Thank You to everyone who has invested in the Triple Crown Community and purchased a condominium. All 46 units in Residence 1 are now sold.
Those of you who were not ready to buy, or who are waiting for the next phase of condominiums, stay tuned. We will be announcing details soon.
Now that you’ve put a deposit down for your new condominium, make sure you make yourself aware of some expenses you will need to set aside some money to pay before the day that you close if you’re living in or renting your unit.
Closing costs
GST is included with the rebate going to the seller. If the buyer is not living in the unit and not eligible for the rebate they must pay the rebate portion on top of the Selling price. Property Transfer Tax (PTT) is similar in that it is included if you are living in the unit. Those not living in the unit they must pay the PTT on top of the Selling price net of the GST.
You will need insurance for the unit whether living in it or renting it out.
Utility Hook ups. When you …

Victoria & Langford Real Estate Market Review of April

"Last year, the months of May and June were the busiest," said Victoria Real Estate Board President Kyle Kerr. "So, we may see this pattern again but on a slightly smaller scale than last year, since our sales for the year thus far are down about 18 per cent when compared to 2017."
A total of 2,002 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of April 2018. A total of 774 properties sold in the Victoria Real Estate Board region through April which is a 12.5 per cent increase from the month previous.

There isn't a lot of homes on the market to meet demand, and good homes in desirable locations still see multiple bids. There is a strong pressure on lower-priced properties. The reduced buying power of consumers due to the new mortgage rules is creating more competition for lower-priced properties. That's what is pushing prices up.

The Multiple Listing Service® Home Price Index benchmark value for a single-fam…