RSS

Real Estate Report on Victoria China USA and Australia

PacWest International Management Inc Logo

UNITED STATES.  Phoenix real estate rises with Canadian buyers.  Bob Major returned to Phoenix in October in search of more bargains like the four empty houses he purcahsed in 2010.  The retired builder from Vancouver instead found real estate about 20 per cent higher and stiff competition.  "There's been an extreme turn" Major, 66, said in an interview at a Chandler, Arizona pizzeria, sitting beside his wife, Wendy.  "We put bids on thirty properties and only got two."  The Phoenix housing market, down 55 per cent from peak values with more than two-thirds of borrowers owing more than their properties are worth, is starting to recover as demand grows and inventory shrinks.  Sales rose in November for the 12th straight month on a year-over-year bases, and distressed real estate accounted for the smallest share of purchases since 2008, according from research from DataQuick. Low prices attracted flocks of Canadians taking advantage of 28 percent currency gain versus the U.S. dollar since March 2009--and winters with an average high of 19 degrees Celsius.  Canadian edged out of Californians last year as the largest group of outside buyers, with 4.2 percent of purchases.


AUSTRALIA'S love affair with property is about to be tested. Right now is not a time to be buying real estate in Australia. Residential prices are likely to fall up to 60 per cent, possibly even more, within five years. Artificially low interest rates, high loan-to-value lending practices, overinflated property prices, unrealistic vendor expectations and Australia's large number of second mortgages. Prices will be on a slippery slope next year when interest rates begin to rise, commodity prices peak and China's demand for Australian exports slows. US economist Harry Dent recently said Australian house prices were 50 per cent overvalued. Sydney real estate agent Charlie Bailey of Ray White Inner West believes there will not be a burst because there is no bubble. "In Sydney, we have 20,000 people a week looking for accommodation and not enough supply. “I can't see the city's housing infrastructure changing any time soon so a prediction of a 60 per cent fall in property prices is a big call."  In recent years, Australian cities have experienced Vancouver-style real estate booms, with housing prices soaring from Sydney to Melbourne.  Like Vancouver, buyers from China help drive Australia’s speculative real estate market. Faced with mounting public pressure, in 2010 the Kevin Rudd government introduced strict regulation aimed at foreign ownership.  Under the new rules, the Foreign Investment Review Board (FIRB) screens foreigners (including temporary residents and students) to determine their land purchase eligibility. Foreigners can’t buy existing properties and must build on vacant land within two years of purchase or face government-ordered sale.  Scofflaws face capital gains confiscation.  Finally, before foreign homeowners leave Australia, they must sell.

CHINA’S Evergrande Real Estate Group Ltd, the second-biggest developer in China by sales value, on Monday forecast flat 2012 sales and said the wider property market would be gloomy in the first quarter, with no improvement until after the Lunar New Year in late January. The developer and many of its peers reported sharp double-digit annual drops in sales in December as the mainland Chinese property market felt the pinch from the central government’s efforts to lower home prices and restrict property purchases.  Annual growth in real-estate investment in China, a main driver of the economy, slowed in December to its lowest pace in a year, falling in tandem with property sales revenues, but analysts predict the worst is yet to come.  A Reuter’s poll last week showed that analysts expect average home prices in China to fall between 10 and 20 percent this year, with the biggest declines in major cities such as Beijing as well as highly speculative markets of Ordos and Wenzhou.  

Canada’s real estate market is growing at a snail’s pace, reinforcing hopes the housing sector will glide to a soft landing instead of crashing.  There are two key concerns hanging over the housing market: the level of real estate prices in Vancouver and the condominium construction boom.  Neither of those markets has shown signs of a catastrophic decline, even though some people have been predicting it for years.


VANCOUVER is starting to feel the effects of a slowing real estate market on its overall economy, despite continued population and job growth.  The city continues to enjoy above average population growth, while the pace of job creation and level of employment quality are well above the national average.  While improving recently, the unemployment rate is relatively high, just one tick below the national average, while the pace of real estate activity is starting to slow.

VICTORIA.  With all the doom and gloom we hear about one may wonder how real esate and the Victoria economy in general is doing.  Victoria and Victoria Real Estate have always held up pretty good compared to the rest of the contry.  A recent article in the Times Colonist by Andrew A. Duffy reads:  Though the city has seen its economic momentum slow.  Victoria's diversified economy has insulated it from feeling the brunt of the global financial slowdown, according to a report from CIBC World Markets.  The Metrolpolitan Economic Activity Index showed Victoria with a score of 13.6 ranked seventh among 24 Canadian cities, sandwiched between Calgary at 13.9 and Kitchener, ON, at 13.2.  "The momentum in Victoria is starting to slow down, but the level of activity in Victoria is still relatively OK," said Menjamin Tal, senior economist at CIBC World Markets.  "It says to me that Victoria has been able to maintain its position for a while now without losing big momentum, and that reflects clearly it has a fairly diversified economy and is not a slave to the value of the dollar or oil prices."

Beijing:  The most expensive apartment ever built in the country.  The luxury penthouse apartment of more than 1,000 sq m is on sale for Rmb300,000 per sq m, or a total price tage of more than Rmb300m ($46.2m), according to an unnamed representative of the developer.

I hope you find this helpful. Once in a while I post information that is sent to me from the President of PacWest International Management, Mr. Jim MacNaught.  Please stay tuned for more real estate updates...


Stable Past- Stable Future

January 22, 2012

Prepared by Jim McNaught

President of Pacwest International Management Inc.

What truly sets the Greater Victoria region apart is its unique combination of economic opportunity and its superior quality of life. Entrepreneurs with ventures of all sizes comprise more than 17,000 businesses in the region. Technology, tourism, marine, health and service industries are all thriving sectors, and the region has become a world leader in environmental services and technologies, with world-class research activities in the field.

Advantage Victoria

  • Home to 770 high tech companies, many of which focus on sustainability, like the Vancouver Island Technology Park which makes its home in an environmentally sound building
  • An expert labour force made up of the best and brightest
  • An advanced technology industry worth $900 million and specializing in biotech, e-business, printing/publication, knowledge-based services, software development and telecom
  • Regional economy is geared for growth—Small businesses are the rule with nearly 22,000 in operation, yet major employers also provide jobs in tourism, transportation, government and defence
  • More than 72% of all residents over the age of 15 have some post-secondary training
  • Solid foundation in service, trade, health care and public administration
  • Focused on developing opportunities in research, marine sciences, education and the advanced technology industry
  • Household internet usage ranks among the highest in Canada
  • #2 for Cost of Doing Business in the Pacific Northwest – KPMG Competitive Alternatives Study
  • World-class ferry system’s transport passengers to mainland British Columbia and US destinations
  • Victoria is just 35 minutes by plane from Seattle and Vancouver and direct flights depart daily for Toronto
  • 4 Post Secondary Institutions
  • World-class transportation network –Source investincanada.gc.ca-2012

 As Canadians enter 2012, a report from the BMO Retirement Institute - Where do Canadian plan to retire, and why? - has found that Victoria, British Columbia is Canada's hottest retirement destination for Boomers.

 According to the study, conducted by Leger Marketing for the BMO Retirement Institute, Canadian Boomers chose Victoria, B.C. as the number one spot to retire within Canada (15 per cent). "With its mild climate, breathtaking scenery and outdoor lifestyle, it's no wonder that so many Canadian Boomers have chosen Victoria as the ideal place to retire," said Tina Di Vito, Head of the BMO Retirement Institute. "Additionally, a good portion of Victoria's population is over 65 years of age and there's a strong health care network in the region; this adds to its appeal for Canadians considering relocating upon retirement.“  Source BMO Jan 4, 2012

According to the Canada Mortgage and Housing Corporation's (CMHC's) Fall Victoria Housing Market Outlook Report, the level of new residential construction activity in the Victoria Census Metropolitan Area (CMA) will total 1,700 housing starts in 2011, and edge up to 1,850 housing starts in 2012.

"Numerous multi-family projects are currently flowing through the construction pipeline (this includes the planning and development approvals stages) across the CMA. Multi-family construction activity will remain consistent with the ten-year average for the CMA," said Travis Archibald, CMHC Senior Market Analyst, "while competition from a well-supplied resale market is expected to keep single-detached housing starts below their historical average both this year and next."

After moving into buyers' territory in 2011, balanced resale market conditions are expected to return in 2012, as the demand for existing homes picks up and resale supply edges down. As a result of buyers' market conditions, the average MLS® price is forecast to decline 0.9 per cent in 2011 to $500,000, before increasing to $505,000 in 2012.  Source CMHC

PacWestInternationalMgmtInc.  .jpg

PacWest International Management Inc.


Since 1985


Government and Corporate Consultants


China-United States-Europe-Canada


By Referral Only


Commercial & Residential Real Estate


Business Education Programs


Country Research & Analysis


Natural Resources & Tourism


Immigration & Citizenship


Economic Development


Hotel Consulting


Health Care 

Read

Oak Bay Market Update - December 2011

OakBayWelcomeChristmas


Real estate sales activity remained steady throughout Victoria and I am very grateful for new, referring and existing clients that have allowed me to help with their real estate needs and wants this year.  For those of you that know me this won't be a big surprise but for those of you that don't I would like to explain. I take pride in presenting full service for clients and I've been unable to do this for the last couple of months (that is why there are no active listings showing up) and would like to let you know why.  I was given the opportunity to help a friend whose going through some pretty severe medical treatments.  I know it sounds funny to use the word opportunity but there is nothing better for the sole than the occasional reordering of priorities and there is nothing better than watching someone deal with a lethal illness for helping to understand that. 

Of course my friend thinks we are just a bunch of talking monkeys on an organic spaceship flying through the universe...just to keep it in perspective...smile.

Back to Oak Bay business...below is a graph showing the Historial Average Prices for single family homes in Oak Bay as well as the averages prices from June 2009 to June 2011.  This graph comes out every six months from the Real Estate Board and I always find it interesting and thought you might as well.

Oak Bay Historical House Price Stats

Below are some stats showing the number of sales in Victoria and Oak Bay.  Notice the different price ranges for example the highest priced home in Oak Bay sold between $6 - $6,999,999. this home sold in November.  In the Victoria area year to date shows a selling price range between $2,500,000. - $2,999,999.  If you are interested in the Victoria Market please read by Market Update page.

Nov. 11 Victoria Real Estate Stats

Wishing you all the best in which ever way you celebrate the Winter Solstice.  "With all the strains and worries and fears of the today's world our ultimate saving grace is that we're human beings and we have each other." 

 

 

 

Read

U.S. Property Tax Rules Hit Real Estate Hard for Canadians!

PacWest International Management Inc Logo

A strong loonie and depressed U.S. real estate prices have led to a buying binge south of the border by Canadians. Canadian's are now the largest non-American buyers of U.S. real estate.  Many purchasers, however, have only a vague idea of what they've committed to from a tax and legal standpoint. "There's a presumption among people that the laws must be the same in the U.S. and Canada.  A lot find out otherwise only after they buy," said David Altro, a Montreal lawyer who also practices in the United States.  Altro, who specializes in cross-border tax, property and estate-planning issues, is the author of a 2009 guidebook titled Owning U.S. Property the Canadian Way.  An updated version of the book is on the way because of significant changes looming in U.S. estate tax, starting in 2013.  Altro said those changes will be "expensive and onerous" to many Canadians if they don't do their homework and/or get advice.

 

Starting Jan. 1, 2013, the exemption level on estate tax for owners of U.S. property drops to $1 million in worldwide assets from $5 million, and the maximum tax rate on U.S. property rises to 55 per cent from 35 per cent.  Although the threshold may still seem high, Canadians must include in the calculation the value of their RRSPs and life insurance payable at death, which pushes a lot more people into the tax zone.


Estate tax isn't the only significant difference between the two countries. Florida counties have probate rules that could cause a lengthy delay and expensive disbursement to settle the estate of a Canadian who dies owning property there.  If a property owner becomes mentally incapacitated, no transaction is possible until Florida's guardianship requirements have been met. "A Quebec incapacity mandate often isn't valid in Florida," Altro noted.

Nor does Florida recognize handwritten holographic wills, as Quebec does.

 

Canadians who give U.S. property to relatives are liable for U.S. gift tax as well as Canadian capital-gains tax (determined using the fair market value).  Adding your children to the title also could put you on the hook for a taxable gift, and leave the property vulnerable to seizure if the children have marital or financial problems.  Altro said one way for Canadians with significant property to minimize hassles, taxes and property transitions is to create a cross-border trust, with one or more people as trustees.  "The trust doesn't die when the person does, so you can avoid estate tax," he said.  Having a corporation own U.S. property isn't usually a good idea, he said, since the U.S. capital-gains tax is higher for corporations; states such as Florida can tack on an additional levy of their own, and the Canada Revenue Agency may charge a "shareholder benefit tax" to those who make use of outside property owned by a corporation.


Altro says tax and estate planning is always best done beforehand to avoid complications and surprises. So before signing for that Florida condo, make sure you know where you stand. 

I hope you find this helpful. Once in a while I post information that is sent to me from the President of PacWest International Management, Mr. Jim MacNaught.  Please stay tuned for more real estate updates...

 

PacWestInternationalMgmtInc.  .jpg

PacWest International Management Inc.
Since 1985
Government and Corporate Consultants
China-United States-Europe-Canada
By Referral Only
Commercial & Residential Real Estate
Business Education Programs
Country Research & Analysis
Natural Resources & Tourism
Immigration & Citizenship
Economic Development
Hotel Consulting
Health Care 
International Head Office
250-7580 River Road
Richmond, BC Canada V6X 1X6
James McNaught, MBA, President

Read

Where are the Chinese Buying Overseas Property in 2011?

PacWest China-Beijing

On a sunny Saturday in early June, Larry Zhou strolled the floor of a property exhibition in Hong Kong, wondering whether it was time to buy another home -- not in the city, where residential prices have soared 50 percent in the past two years, but maybe in Thailand or Malaysia. “My wife and I have been thinking about investing outside of the country since we already own an apartment in Shanghai, “Zhou, a 38-year-old civil engineer, said in an interview at the Hong Kong Convention & Exhibition Centre before wrapping up a business trip and returning home. “I’ve known people in Shanghai who like to bring their money and invest in Hong Kong properties, but I think Hong Kong is way too expensive.”

Investors are grabbing everything from $68,000 foreclosed condominiums in Florida to $2 million beachfront villas in Vietnam; a buying spree fuelled by China’s surging wealth that mirrors the country’s expanding influence in markets for gold, oil and food. The search for overseas property accelerated in the past seven months as the governments in Hong Kong and Beijing imposed purchasing and financing limits, steps that are starting to cool off domestic markets.

In North America, moderate weather, good schools and established Chinese communities are drawing buyers to cities such as Vancouver, which had the third-highest housing costs among English-speaking cities worldwide in 2010, according to Canada’s Frontier Centre for Public Policy. Hong Kong and Sydney were first and second.

The Chinese are usually in a hurry when they shop, often buying at least two houses per visit, paying cash because they don’t have time to take out a mortgage. Amanda Sun bought three houses in Australia's coastal city of Gold Coast after visiting the town just once as a tourist. The 33-year-old owner of a small trading firm is one of thousands of Chinese who are beginning to export China's house price inflation abroad by piling into property markets overseas. Stifled by a clampdown on property speculation at home, cash-rich Chinese are buying up homes in Australia, the United States, Britain and Canada instead, countries popular with Chinese students studying abroad.

Property developers are courting the international rise of the wealthy Chinese home buyer with ardour, marketing their projects in Shanghai and Beijing. CB Richard Ellis has set up a special arm to help Asian buyers purchase homes abroad. China's biggest real estate website, Soufun Holdings, has been bringing Chinese investors to tour Western cities in the past two years

"The Chinese are my most important clients now," said Cindy Chan, chairman of AGC Property Centre Pty Ltd, Sun's property agent in Australia. "The number is growing very fast." Business is so good that Chan visits China every other month to showcase homes on sale in Australia. She plans to start an office in Shanghai in May.

Chinese interest has also flooded the U.S. market, with a high increase on the number of enquiries received from Chinese buyers. Although there is an abundance of discounted property on the U.S. market, it is the lifestyle that Chinese investors desire from the States and that is what attracts their interest. Since the recession there has been a drastic drop in the number of Chinese investors, but industry experts are predicting 2011 to be the year they return.

Canada’s real estate market has always attracted Chinese buyers, but experts in the country have stated that the Chinese buyers are flooding into Vancouver and Toronto, while in the past they were generally only interested in the Richmond real estate market.

Chinese investors are used to the steep prices offered in Canada as the prices represent what’s on offer at home for them, so Vancouver and Toronto house prices are more affordable for many Chinese investors, which has created an increased interest from mainland China. As with the U.S., Chinese investors are drawn in with Canada’s stability and favourable lifestyle.

These are just a few of the markets Chinese buyers are entering; because of restrictions of ownership in China, investors are looking at alternative real estate markets to buy into, targeting markets that offer stability and high-end properties. The annual “Spring of Shanghai” Real Estate Expo reported an expanding enthusiasm for investing in property overseas, with the exhibition noting that Chinese buyers are interested in investing in countries they can send their children to study in, typically targeting English-speaking communities.

But while Chinese buyers, or any buyers for that matter, may be welcome in severely depressed property markets such as those in the United States, the UK or parts of Europe, the inflows of Chinese money are causing headaches for economies elsewhere which are growing at a much faster clip. Singapore and Hong Kong, for example, have found it tough to keep a lid on surging home prices amid strong demand from Chinese nationals, despite government efforts to cool the market and stave off destabilising asset bubbles.

Shut Out in Australia

Australia clamped down on foreign buying of homes in the country last year in a bid to calm buoyant prices. While Chinese buying has provided a welcomed boost to struggling U.S. cities, there has been a backlash in Australia, long a magnet for Asian immigrants. The federal government introduced rules in April 2010 requiring temporary residents to seek approval to buy existing property and sell when leaving. Buyers living overseas can purchase only newly built housing. The changes, which reversed a 2008 easing of restrictions on foreign investments in property, came after local homebuyers and real estate groups blamed demand from overseas investors, particularly Chinese, for inflating prices. Values rose 5.8 percent in 2010 after soaring almost 14 percent in the previous year, government statistics show.  “There’s a whole field of Chinese buyers wanting to buy, but they can’t purchase existing properties here anymore,” said Garth Turnbull, property consultant at City Residential in Melbourne. “There are some sales to parents whose children are studying here. That used to be just part of the market, but now it’s basically all that’s left.”

Capital Controls

Chan and other property agents could be a lot busier if not for China's strict capital controls. Chinese citizens are barred from buying more than $50,000 worth of foreign currencies a year, restricting them to smaller property purchases when they venture abroad. There is talk that the cap may be raised to $200,000, but that is just unconfirmed chatter so far. "The government worries about whether Chinese investors have a good understanding about foreign real estate markets," said Li Wei, an economist at Standard Chartered in Shanghai. To beat the rules, Sun, like many other Chinese, turned to her relatives for help. They pooled their annual quotas together to give her enough foreign currency to put a downpayment on the three houses, which were worth a total Australian $3 million ($3.1 million). Others sneak their money out of China by disguising the funds as import bills. Although the annual limit for Chinese citizens to buy foreign currencies is just $50,000, it’s not proving to be any real obstacle, as many of the wealthiest buyers have located their trade companies or offices in countries without currency restrictions, enabling them to pay through their companies’ offshore accounts. Such cracks in China's capital controls will help feed demand for houses elsewhere. "We think that in a relatively short period of time and in a way that is measurable, Chinese buyers are going to account for something on the order of 10-20 percent of the London market," said Gerald Allison, a director at global real estate agency DTZ in London. So far, there is no official or private estimate on the total amount of Chinese outbound real estate investment. Some developers hope China will relax its capital controls over time, albeit in its characteristic "gently" manner. After all, China needs to slow the rapid build-up of its foreign exchange reserves, which at $2.85 trillion are the world’s largest and a headache for the country. Freeing up Chinese investment overseas can do just that.

Companies Prudent

In contrast to individual Chinese investors, Chinese firms are more cautious about moving abroad. Although some developers including SOHO CHINA have eyed foreign markets over the last two years, they have yet to announce any deals. "It takes time for Chinese companies to understand the rules of the game abroad," said David Chen, a Shanghai-based executive director of CB Richard Ellis for China residential sector. He said Chinese developers would most likely start from small deals and team up with foreign firms. China insurers such as China Life and Ping An Insurance are waiting in the wings as well. Beijing allows insurers to invest 10 percent of their total assets -- 5.2 trillion yuan at the end of February -- in commercial real estate markets, at home and abroad. On the whole, however, insurers can only park 15 percent of their total assets outside China. "They are actively watching (to invest in real estate market abroad) to diversify their investment portfolios, but haven't reached any deals yet," said CBRE's Chen.



James McNaught, President of PacWest International, sent this information to me which I thought was very interesting and wanted to share with you.  For Victoria and Vancouver luxury in British Columbia Canada PacWest has over forty years of experience.  If there is anything I can help with, be happy to. My direct line is 1.800.550.0585 or 250.744.4556 for all residential real estate. Please stay tuned for more updates!

PacWestInternationalMgmtInc.  .jpg




Read

Oak Bay Tea Party - 2011

Located at Willows Beach in North Oak Bay. 2011 celebrates the fourtynineth anniversary of the Oak Bay Tea Party.  The Oak Bay Tea Party begins with a traditional parade begining at 10:30 am along Oak Bay Avenue from Windsor Park to Willows Park.  The midway is set up and opens at 11-9 pm Saturday and 11-7 pm Sunday.

Oak Bay Tea Party 2011


Run by volunteers, the Tea Party is proud to assist the following non-profit organizations raise money for their charitable causes;  Oak Bay Kiwanis, Rotary Club of Oak Bay,  Oak Bay Sea Rescue Society, Girl Guides of Canada, Royal Oak Lions CLub and the Capital City Lions Club. 

Annual pancake breakfast Saturday and Sunday at Willows Park, 7-11:00 a.m.
Delicious corn on the cob Saturday and Sunday next to the Baron of Beef Booth.
Candy floss and popcorn for sale in the park. Oak Bay Kiwanis Pavilion in Willows Park is always open for business on the Tea Party weekend.  And what Tea Party would be complete without tea? The oldest corporate sponsor, Tetley Tea will have girl guides serving tea on Saturday and Sunday in the Tetley tea tent.

Oak Bay Tea Party At Willows Beach

Growing up in Oak Bay, I remember playing my saxophone with the Oak Bay Concert Band right after the Tea Party Opening Ceremonies at Willows Park.  Mr. Dave Dunett was our band teacher at Oak Bay High School.  He was the best...

Entertainment Schedule for Saturday

Noon - Oak Bay High Concert Band
12:30 - Opening Ceremonies
1:00 - Oak Bay High Jazz Bands
2:00 - Victoria Children's Choir
2:45 - Paul Kilshaw, Magician
3:15 - U-JAM Young All Stars
4:00 - The Fascination Band
4:45 - Buckets of Fun with Angie Carter
5:30 - Rukus
6:30 - Vic High Rhythm and Blues
7:30 - Harris Gilmour and The Mojos

Entertainment Schedule for Sunday


Noon - The Rig-A-Jig Band
3:15 - "Jazzercise"
3:30 - Ladies Nail Driving
4:30 - Commodores Big Band
6:00 - Oak Bay Tea Party Raffle Draw

Oak Bay Tea Party Rides


Willows Beach Bathtub races start at 1pm on Sunday. Arriving from Vancouver, Surray, Nanaimo, Abbotsford...

Oak Bay Tea Party Cup

Willows Beach is an active Park and beach in the Municipality of in Oak Bay.  Set up your volleyball and have some fun this weekend.

I hope you found this helpful.  If you find that Oak Bay may be an area you wish to live in - be happy to help.  Licensed since 1990 and grew up in Oak Bay. Call direct at 250.744.4556, join me on twitter @brussell6 or send me an email: brenda@brendarussell.ca
Here is an example of my new listing offered for sale located in the Uplands area of Oak Bay on Uplands Road.  Please stay tuned for more Oak Bay updates, and that's Oak Bay.

Read

Victoria's Butchart Gardens Dec. 1 - Jan. 6, 2011

ButchartGardens2010

The Butchart Gardens is a wonderful place to enjoy during the Holiday Season.  It is a National Historic Site of Canada and has been in bloom over 100 years. My son and I toured 'The Magic of Christmas' for the first time this year.  It was very chilly the evening we went so we walked quickly through the gardens and noticed many activities one can enjoy while viewing the Christmas lights.  From December 1 - January 6, 2011.

ButchartGardensChristmas2010

Ice Skating at the Butchart Gardens. Enjoy 3,300 sq. ft. open air ice skating rink from 9am - 9 pm and Christmas Day 1pm - 9pm.
Skate times run on the hour and last for 40 minutes.  The rink capacity is fifty, so be sure to bring your friends.  Skate rentals are availalbe on a first come basis.  Helmet and writst guards are availalbe at no charge. (Visit the Inormation Centre for more details)

Traditional Carollers and Festive Brass performs nightly from 5pm - 9pm in the Piazza.

ButchartGardensChristmasLights


The Rose Carousell is open daily 9:30 am - 9:30 pm at $2.00 per ride.  Late opening on December 25th at 1:30pm.  Tokens may be purchased in the Children's Pavilion.

ButchartGardensChristmas

You can enjoy a decadent dinner with innovative dishes built around local Island-raised food at the Holiday Dining Room Restaurant.  Dinner is served 5pm - 8pm and on December 25th set menu 3pm - 8pm and reservations are recommended.  High Tea is served daily at 12pm - 3pm and on December 25th tea time is from 1pm - 1:30pm.  Also offered is The Blue Poppy Restaurant, a beautiful, poinsettia-filled restaurant perfect for families, offering children's favourites.  Cafeteria-style.  Dinner is served from 4pm - 8pm.  The Coffee Shop is open daily from 9am - 10pm and hot foods served from 11am - 3pm.

The Magic of Christmas Walk - Children, 12 years and under, will be given a list at the admission gate to identify each of the Christmas highlights displayed throughout The Gardens.  Upon presentation of their list at the Information Centre participants will receive a Christmas treat. To contact The Butchart Gardens the phone number is 250.652.5256 Toll free: 866.652.4422 or email them @butchartgardens.com

If you get a chance I highly recommend it, it was really fun and even if you don't I wish you the best of the Holiday Season!






Read

Royal LePage Shattered Records For Women's Shelter!

Sandra Diaz, Executive Director of the Royal LePage Shelter Foundation announced that last week at our National Sales Conference in Montreal we shattered all previous records to raise more than $145,000 for the Royal LePage Shelter Foundation!

Thank you to all of you that brought items last week to Montreal's Royal LePage Shelter Foundation Auction and those of you who contributed so generously and enthusiastically to help families across Canada!  Everything is helpful.  By helping others we are actually the ones getting the gift.  I know the Shelter feels that they are receiving the gift but I feel I am getting the gift. The fun and fundraising were contagious on the party trian, jet boat, scotch tastings, suite parties and the auctions.  Special thank you to our auctioneer extraordinaire, Kent Browne, and friends at the Royal LePage Team and Gale who raised $50,000. in their special inhouse contest and draw.

Half of Canadian women will experience abuse in their lifetime and 360,000. children are exposed to domestic violence each year.  Watch this short video to hear some real life experiences of how this is making a difference.


Since 1999, The Royal LePage Shelter Foundation has donated more than $10 million to support women's shelters, violence prevention and education programs across Canada.  Royal LePage is the only Canadian real estate company with its own charity, empowers its sales representatives making a tangible difference on both local and national levels.  Here's how it works:  In every transaction I am involved in a portion of my fees are donated to The Womens Shelter for Victoria.  It's that simple and is obviously very effective. 

Let's face it,  we live in times that are complex and often can be very harsh.  I think all of us know someone, or have ourselves been involved in an abusive relationship at some point in our lives, whether it is someone taking your money from you, throwing furniture across the room while you are holding your baby on your hip or more slowly and insidiously taking control of your life by isolating you from your family and friends. Maybe it is all of those things.  Maybe it is being humiliated in front of your child by your boyfriend or spouse. Maybe it is rape or some other form of violence then escalating to murder.  Abuse comes in many forms.

No one should have to live with abuse - ever.  It takes an incredible amount of courage to step away and stay away from the abuser.  It can be done and must be done.  From that moment you are a different women and are changed forever. 

If you have any questions about the Womens Shelter or Victoria Real Estate please call me to discuss.  I am an experienced award winning REALTOR® licenced since 1990.  I look forward to hearing from you and until then please stay tuned for more updates or you can follow me on twitter at http://twitter.com/brussell6 or call direct at 250.744.4556 and know that together we can make a difference.

                Royal LePage Top Donar 2009     Brenda_150_with_shadow_copy.jpg

 

            
Read

Oak Bay's Blethering Place Collector Car Festival 2010

Blethering Place Collector Car Festival 2010

Oak Bay Avenue was closed to regular traffic today from 8:00 am - 5:00 pm to display about 300 collector cars ranging from the earliest, hot rods, english, muscle, and classic...all sorts of eras.  It was about 32 degrees of hot sun today and that didn't stop the crowd from showing up to enjoy the cars, hearing the stories and history of the cars from the owners, listening to the entertainment, participating in the raffles and prizes.  This has turned out to be an annual event so if you missed it, come next year.  The Blethering Place Tea Room and Restaurant is located at 2250 Oak Bay Avenue. On the corner of Monterey Avenue 250.598.1314  or toll free at 1.888.598.1413 to reach them direct.  The Blethering Place is open for Breakfast, Lunch and Dinner 8am-9pm.  It is about a 10 minutes drive from Downtown Victoria.

A Photo Of Oak Bay Avenue Sunday, August 15, 2010

Oak Bay Collector Car Festival

The majority of the cars come from local enthusiasts but some came from up island, mainland BC and the United States .  Attached are a few samplings of collector cars I took a photo of today, which I hope you enjoy if you missed today's Oak Bay event.

1938 Cadillac

Oak Bay Collector Car Festival 1938 Cadillac

Oak Bay Collective Car Festival Cadillac

1966 Shelby MustangGT 350

Many years ago I had the special pleasure of driving in a 1968 Convertible Shelby GT 350 from Palm Dessert to Victoria BC along the Coastline.  The owner at the time, offered me the wheel for a short ride on the highway.  It was a memorable life experience!

Oak Bay Car Festival 1966 Shelby MustangGT 350

Shelby Cobra

Oak Bay Collector Car Festival Shelby Cobra

MG or MGT?

Oak Bay Collector Car Festival MG

1966 Sunbeam Tiger

Oak Bay Collector Car 1966 Sunbeam Tiger

Ford

Oak Bay Collector Car Ford


Oak Bay Collective Car Festival 2010

If you are thinking about relocating to Victoria BC or moving within Victoria and would like some help, please call me direct at 1.800.550.0585 (toll free) or 250.744.4556 (mobile) you can follow me on twitter @brussell6 or send me an email at brenda@brendarussell.ca I have been a real estate agent for 20 years and grew up in the Oak Bay area.  For more information please read my Victoria Market Update and stay tuned for more Oak Bay updates!
Read

Canada, a land of great natural beauty and beautiful, warm, welcoming people. On Canada Day, reach out to all your friends, family members and acquaintances and wish them a day filled with fun and laughter. Say Vive Le Canada!

Did you know that the name Canada derives from an Iroquoian word for "village," kanata, that French explorers heard used to refer to the area near present-day Quebec City. Today, Canada comprises ten provinces and three territories.
Wishing you and yours a very happy Canada Day!  Celebrate on July 1st.

Photo of Victoria's Parliment Buildings

Victoria Parlement Buildings

Read

OAK BAY REAL ESTATE LISTINGS

In the popular Oak Bay area of Victoria, you will see the activity in the different map areas starting with South Oak Bay;

South Oak Bay has 47 listings total.  Thirty of the 47 are single family dwellings starting at $575,000 up to $11,500,000.
Gonzales area has seven listings all being 'homes' starting at $728,000. - $5,500,000.
North Oak Bay has ten listings, 9 being single family dwellings.  Homes starting at $499,900. - 1.395,000.
Estevan area has seven current listings with four of them being 'homes' starting at $649,000.
Henderson has twelve listings starting at $459,000. - $995,000.
Uplands has fifteen listings starting at $1,250,000. - $4,400,000. The Uplands is Oak Bay's exclusive subdivision where homes are set well back from the street with manicured lawns and underground electrical.  Click to view a current Uplands listing and learn the location and size of this home.
 

Oak Bay Sales By Price Range For May 2010

Notice the price range between $1,500,000. - $1,749,000. This was an active range for 'over' the Million mark.  $750,000. - $800,000 was also a active price range.  No homes sold between $900,000. - $950,000. in Oak Bay during May.  The graph will also show you the activity by price range in the Victoria real estate market as well.  If you have any questions just call me direct at 250.744.4556.

Sales By Price Range - May 2010

I hope this helps give you an idea of the Activity in Oak Bay since the start of the year.  Stay tuned for more updates on the listings and sales in the Oak Bay Real Estate Market.  If you would like to read about the Victoria Market please read the current update
Thinking of buying or selling in the Oak Bay/Fairfield area - have a question or need help please let me know.  I have been a licensed REALTOR® since 1990, raised in Oak Bay and currently live in Fairfield. This year I was presented with the LIFETIME AWARD OF EXCELLENCE at our BC Royal LePage function held in Vancouver this May at the Pan Pacific Hotel.  The LIFETIME AWARD is given to Royal LePage REALTORS® attaing a Presiden'ts Gold Award (top 6-10 percentile or any higher award level) ten out of fourteen consecutive years with Royal LePage.  Please stay tuned for more updates... and that's Oak Bay!

Royal LePage Awards at Pan Pacific Hotel 2010

2010 Royal LePage Award For BC

Follow Brenda on Twitter at http://twitter.com/brussell6
Read

Royal LePage National Garage Sale for Women's Shelter - Raised over $300,000 Across Canada!

This was the biggest fundraiser in the history of the Shelter Foundation and the biggest charity garage sale ever in Canada. In 2009 we were thrilled to raise $120,000 at our first National Garage Sale for Shelter.  This year, because of the effort and the generosity of Royal LePagers from coast to coast, we shattered that record to raise more than 2 ½ times last year's total to put towards helping abused women and children across Canada.

Because of you, families lives will be forever changed. 

Because of you, children will be able to sleep through the night and women will be safe.

An extra special thank you goes out to our extraordinary sponsors - Atlas Van Lines Canada, TD Canada Trust Mobile Mortgage Specialists and Advance Commission Company of Canada.  Their generous support and unparalleled commitment to our cause and Royal Lepage is incredible. 

Every dollar raised by the National Garage Sale for Shelter support local women's shelters, as well as national and provincial progarms to help stop the cycle of violence. All proceeds from the garage sales go directly to the cause because Royal LePage underwrites 100 per cent of the adminstration costs.

The National Garage Sale for Shelter helps restore hope to more than 30,000. women and children across Canada. Half of Canadian women will experience abuse in their lifetime and 360,000. children are exposed to domestic violence each year.  Watch this short video to hear some real life experiences of how this is making a difference.


Since 1999, The Royal LePage Shelter Foundation has donated more than $10 million to support women's shelters, violence prevention and education programs across Canada.  Royal LePage is the only Canadian real estate company with its own charity, empowers its sales representatives making a tangible difference on both local and national levels.  Here's how it works:  In every transaction I am involved in a portion of my fees are donated to The Womens Shelter for Victoria.  It's that simple and is obviously very effective. 

Let's face it,  we live in times that are complex and often can be very harsh.  I think all of us know someone, or have ourselves been involved in an abusive relationship at some point in our lives, whether it is someone taking your money from you, throwing furniture across the room while you are holding your baby on your hip or more slowly and insidiously taking control of your life by isolating you from your family and friends. Maybe it is all of those things.  Maybe it is being humiliated in front of your child by your boyfriend or spouse. Maybe it is rape or some other form of violence then escalating to murder.  Abuse comes in many forms.

No one should have to live with abuse - ever.  It takes an incredible amount of courage to step away and stay away from the abuser.  It can be done and must be done.  From that moment you are a different women and are changed forever. 

Thank you to all of you that brought items for the garage sale last weekend and those of you who purchased items from the garage sale.  Everything is helpful.  By helping others we are actually the ones getting the gift.  I know the Shelter feels that they are receiving the gift but I feel I am getting the gift.

If you have any questions about the Womens Shelter or Victoria Real Estate please call me to discuss.  I am an experienced award winning REALTOR® licenced since 1990.  I look forward to hearing from you and until then please stay tuned for more updates or you can follow me on twitter at http://twitter.com/brussell6 and know that together we can make a difference.

Royal LePage Top Donar 2009      Brenda_150_with_shadow_copy.jpg

Read

ROYAL LEPAGE COAST CAPITAL REALTY And ATLAS VAN LINES, Huge Garage Sale May 15, 2010 Victoria BC

Proudly Announces the National Garage Sale for Shelter and all this will be happening May 15, 2010 at #137-2924 Jacklin Road in Langford.

In the time it takes to brew a cup of tea, three women in our country will be assaulted by an intimate partner and each and every year, 360,000 children witness domestic violence.  The Royal LePage Shelter Foundation is making a difference in changing those statistics as Canada's largest Foundation dedicated exclusively to funding women's shelters and violence prevention programs.  As the only company with our own charity we've raised more than $10 million to help 30,000 women and children at 150 shelters each year.  This contribution has been supplemented by many individual acts of kindness from Royal Le Page offices and individual sales representatives.  Because all of the administrative costs are covered by Royal LePage 100% of your support goes directly to the cause.  Together we are changing lives and restoring hope and safety to families in every province.

Royal LePage Garage Sale for Womens Shelter Foundation

Family violence touches hundreds of thousands of Canadians each year.  For every real estate transaction I complete, I donate a portion of my earnings to the Royal LePage Shelter Foundation.  For 2009 I was able to help in more ways because of my clients.  Together we can make a difference.  Thank you.

Royal LePage Top Donar 2009

Brenda_150_wide.jpg

Contact Brenda if you have any questions about Victoria Real Estate, the upcoming garage sale or the Royal LePage Shelter Foundation and please watch this Shelter Foundation Video.




 Proceeds from the Garage Sale event will directly benefit local women's and children's shelters.  Below is a map showing you the location of the largest garage sale being held on Saturday May 15, 2010 from 9:00 am - 3:00pm at 137-2924 Jacklin Road, Langford.  Please pass the news to your friends, co-workers, and family!  Together we can all make even more of a difference.
 

 

View Larger Map
Read
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.