Victoria Real Estate News from Prime Real Estate Team December 2017   

 
Staging is all about highlighting a home’s best features in order to ensure it appeals to as wide of an audience as possible. This month's article shows why a properly staged home will sell faster and for a higher price.

There’s also some great advice on how to enjoy a better night's sleep as well as a unique gift idea that helps people in need from all around the world build successful businesses.

We wanted to wish you and those you care about an absolutely wonderful holiday season. One that creates many delightful  memories that you can cherish in your hearts the whole year round.
We look forward to serving you in the New Year.


Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

Tony

In this issue...
Victoria Real Estate Market Update 
Victoria real estate market experiences a burst of activity.

A total of 671 properties sold in the Victoria Real Estate Board region this November, 12 per cent more than the 599 properties sold in November last year.

"We suggested last month that some buyers may accelerate their purchase timeline to buy a new home in anticipation of the mortgage stress test on uninsured buyers - those with a down payment of 20 per cent or more - that will come into effect on January 1," says Victoria Real Estate Board President Ara Balabanian.

"Judging by the sales we saw in November and what I have heard from our REALTOR® members, some buyers have indeed accelerated their purchasing plans to avoid the stress test. This may change the numbers we see in the early months of 2018, as some buyers who had planned to buy next year have bought a bit earlier."

There were 1,764 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2017, a decrease of 7.4 per cent compared to the month of October and 2.8 per cent fewer than the 1,815 active listings for sale at the end of November 2016.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in November 2016 was $748,500. The benchmark value for the same home in November 2017 has increased by 10.2 per cent to $824,600, which is slightly higher than October's value of $821,900.

"So was this November a record breaker?" asks President Balabanian. "While not a record, it is the highest November sales count we've tracked since 1996. It is also rare that we see November numbers beat October numbers. The fact that we've had an unusual month does not necessarily mean that this is the start of a new trend, it is however, a good example of how outside forces can impact a housing market.”

“It's likely there will be more government-led change in the new year and we'll report on the effects of those changes on the market. Our hope is that the different levels of government coordinate their efforts to avoid a negative compounding effect on the market."

Market Update 
Victoria Stats Explained by Tony Joe

Sales up 12.3% from 2016! A first for the year- how can that be? The Mortgage Stress Test coming in January has caused some early activity for the New Year. We expect 2017 to finish strong.

'Tis the Season for Giving 
It's Better to Give Than Receive


1500 families in Victoria need our help! Donations of food and new gifts or clothing have been collected for 40 years in our community by this amazing organization. Visit the donation sites at Hillside, Mayfair, Uptown and Westshore Town Centre until Wed Dec 13 and help give a family a Christmas they won't forget.

www.CFAXSantas.com

Setting the Stage for a Perfect Sale 
You only get one chance to make a great first impression!

When you put your home on the market, your goal is to sell it quickly and for top dollar. Properly staging your home from day one will create an amazing impression that will generate a huge buzz!

Staging isn't so much an expense as it is an investment. Not only is your home likely to sell for a higher price but it will probably sell much faster which is important because homes that sit on the market can quickly lose their value.

Staging starts with an ultra clean, de-cluttered and de-personalized home. Buying a home is an emotional decision so buyers must be able to envision themselves living there which is why photographs, trophies and kids' artwork have to go.

A stager also ensures your home is inviting to buyers by enhancing the functionality and flow of each room. They can remove and store furniture so the house looks as spacious as possible and use lighting and other tricks to warm up the feel of your home. A properly staged home will also look much more appealing to those browsing online which will generate more showings.

If you want to stage your home yourself, you'll have to go beyond the basics. Start cleaning up the front yard, the porch, the garage and don’t forget the back garden. Buyers have a tough time visualizing themselves in unfurnished rooms so turn your craft room back into a bedroom or transform an awkward nook into a reading spot by setting out a comfy chair and lamp.

Great lighting will create a warm and welcoming ambience so make sure you update your light fixtures, lamps and light bulbs. Buyers will also be snooping through your cupboards and closets as storage space is often an important factor so don’t forget to stage those areas as well.

A well staged home is much more likely to make a great first impression and capture the hearts of homebuyers. Whether you pay a professional to stage your home or do the work yourself, staging is a worthwhile investment that will massively increase the odds of your home selling quickly and for top dollar.

Out and About with Kyle Kerr 
Join Kyle as He Experiences Design House Salon

Kyle talks with Chantelle Pasychny from Design House Salon about their recent purchase of a Heritage Home and transforming it into their second boutique location, Design House Salon Fernwood, in beautiful Victoria, BC.

Finding a property to run a home based business can be challenging depending on the zoning, neighborhood, orientation and layout. This is why they came to Kyle to help find the perfect location to expand their eco-friendly and sustainable business.

Working with small and local business owners is one of my passions as he loves being able to help other entrepreneurs in finding the right property for any of their personal or business needs. Victoria has such a great entrepreneurial spirit and that's evident in Chantelle when she discusses her love for the hair and design industry.

Tired of Tossing and Turning? 
Healthy sleep habits can greatly improve our quality of life.

If all you’re dreaming of is a good night’s sleep, you’re not alone. Lack of sleep can take a massive toll on our mental and physical health. The following tips will help you get the sleep you need:

  1. It's a No-Glo - Hide all light no matter how faint and turn off your smartphone at least 30 minutes before going to bed.

  2. Chill Out & Warm Up - Keep the bedroom temperature cool and wear socks to bed to help your body evenly transfer heat to the extremities.

  3. Light Bright - Take in all the daylight you can as it changes the melatonin levels in your body which causes you to sleep better when darkness falls.

  4. Keep it Regular - Try to go to bed and wake up at the same time every day. If you get poor sleep one night, don’t have a nap as it will affect your internal clock.

  5. Stay Fit - Exercising early in the day can help you sleep better but avoid it at night. Instead, ease muscle tension with some light, relaxing stretches before hitting the sack.

  6. No Worries - Write a to-do list before going to bed in order to flush out your thoughts and worries. Keep a journal beside your bed just in case your mind starts racing.

Lack of sleep can contribute to major physical and emotional health problems so it's important to consistently practice positive sleep habits. The above suggestions will help you peacefully drift off to sleep each night so you'll be much more energetic and productive throughout the day. Sweet dreams!

Congratulations to you 
November Buying & Selling

Congratulations again to our clients who bought and sold with us last month; we know it's an exciting time and we are so happy to have been a part of this with you.

Buyers
Bob & Maureen


Sellers
Paul & Valerie

Ken & Jo-Ann
Alain & Lesley
Brad & Jackie
Vivian & Gordon

Kiva Loans: the gift that changes lives! 
This year, give a gift that keeps on giving, over and over again!
 
If you’re having trouble coming up with a unique gift for that special someone this Holiday Season, why not consider a Kiva gift card!
 
Kiva is a non-profit organization that makes it easy to lend money to low-income entrepreneurs in over 80 countries. Loans start at just $25 which goes directly towards starting a business.

The recipient goes online and chooses someone to loan the money to and once the loan has been repaid, it can be re-lent to someone else or it can simply be withdrawn. It’s a win-win scenario as not only does it help out the borrower but the lender walks away with a great feeling!



PS Are you sick of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started.


Not meant to solicit clients already under contract.