I just sold this 1 1/2 storey home at 7859 Simpson Road, Central Saanich, BC .

View this recently sold 1 1/2 storey home or see all my home sales

FEMALES DRIVE HOUSING DEMAND AND HAMMER AWAY AT RENOVATIONS

- Royal LePage survey finds 25% of women searching for a home are looking for a 'fixer-upper' and plan to do the work themselves

Preparing for Home Ownership

Women are embracing the home buying process and taking charge.  They are readying themselves for bidding wars and willing to take on various types of home renovations. 

Of the women polled who own or rent and intend to purchase a home in the next three years, 56 per cent are willing to participate in bidding wards, in comparison to only 49 per cent of men who are willing to compete.  The frequency of bidding wards tends to very across regions, and also fluctuates among buyer demographics.  For example, in Vancouver, female buyers are used to the all too common bidding wards, according to qualitative research.  In Vancouver, the price of entry is usually attached to a bidding war.  If it is a property they want, women are not deterred from multiple offer situations.

When current female homeowners and renters who intend to purchase in the next three years were asked,  "When searching for your home, which type of home would you be looking for?" 25 per cent said that they are looking for a 'fixer-upper' and plan to do the work themselves, while only nine per cent will hire a contractor.

While the rise in female homebuyers is prevalent in all the major Canadian cities examined, some regional variances were noted.  Based on qualitative research, women in Toronto, Halifax and Regina are more prone to take on home renovations than women in other cities.  In Halifax and Regina younger female purchasers will flirt with more cosmetic home renovations such as painting and flooring to enhance and update their properties.  In contrast, in Toronto, older, more mature women consider larger renovations as a great way to increase their home's equity.

"Single women now plays significant role in the housing market.  Eager to experience the pride of ownership and exercise their independence, we are seeing growing numbers of women buying their first home on their own, trading-up homes as they progress professionally and taking on home renovations," added da Rocha.  "Today's woman is much more financially astute than her counterpart a decade ago, and is well versed in real estate as a solid long-term investment."

CHALLENGING TRADITIONS 

More groomzilla than bridezilla?  When it comes to signing on the dotted line, it is a mortgage certificate, not a marriage certificate that women favour.  When asked, "Given the chance, how likely would you be to go without a wedding reception in order to put a larger down payment on your first home?" 34 Per cent of women who will purchase their first home in the next three years said they were very likely to go without a reception, in comparison to 27 per cent of men who gave the same answer.  And it seems both men and women have become less traditional with each passing year.  A Royal LePage survey commissioned in 2004 found that 30 percent of women and 15 per cent of men who were planning to buy their first home were very likely to forgo a wedding reception in order to put a larger down payment on their home.

Additional Poll Findings:

*  Among those who own and rent and intend to purchase a home/condo in the next three years, men and women both rank equally (81%) taking out a mortgage from a bank, however, nine per cent of men said they would rely on their family to pay for their entire home, in comparison to only three per cent of women.

*  Of women who own, who don't intend to purchase in the next three years, when asked, "Which one of the following motivations most influenced your decisions to purchase your home?"  the top three responses included:  it makes more sense than renting (36%), want to put my money into a good investment (22%) and pride of ownership (13%).

*  Among women who are intending to purchase in the next three years,  when asked, "Which methods will you use to educate yourself about home purchasing?"  the top three responses cited were speaking with a real estate agent (83%), speaking with friends and relatives (78%) and using real estate and financial websites (64%).

SUMMARY

Women have always played a significant role in Vancouver's housing market, their impact in the past three to five years has become increasingly more profound.  Among first-time homebuyers condominiums in the $300,000 to $400,000. range are typically the most desired: Kitsilano and downtown are two of the more popular areas.  Divoced women and move-up buyers in the city typically gravitate to half-duplex townhouses and detached houses in the price range of $700,000 to $1-million.  In order to provide additional income, there is a growing trend among mature single buyers to purchase properties with rental units.

Methodology

The report comprises a nationwide research poll of home buyer attitudes and actions of Canadian men and women (conducted by Maritz Reserach) as well as a regional market analysis of trends and activities with respect to female homebuyers.

Maritz Research conducted a telephone survey among a representative, random sample of 1,002 Canadian females and 1,00 males aged 18 years and older.  Within the female and male sample sizes, the results are considered accurate to within +/-3.10%, 19 times out of 20 for both.  Interviewing was conducted between February 15 and February 20, 2007.

For more information visit www.royallepage.ca.

I just finished uploading this Land for sale, Lot #74 Kinnoull Crescent, Malahat & Area, BC

ATTENTION BUILDERS! A chance to build on 2 lots side by side in Mill Springs Village Lot #73 & Lot #74 each for $173,000.(Seller has already pait the GST) All the Craftsman Style Homes on this street are finished except these 2 lots now available from phase 3! Great opportunity in a development with a total of 12 phases planned. These are two of the largest lots sold in this phase - check it out now. A nice, Classic development.

I just finished uploading this Land for sale, lLoT 73 Kinnoull Crescent Malahat & Area, BC

Mill Springs is a phased strata development in Mill Bay, BC with a building design scheme allowing for the Craftsman Style Homes (heritage). Buyer can use your own builder. NEW Homes are already built on this street except for Lot #73 & Lot#74 both listed for $173,000. each. Very convenient for a builder if you are looking for 2 lots side by side! Or just one...A must see, two of the largest size lots in this phase.

I just finished uploading this House, 27 Lewis Street.

James Bay area in Victoria, BC, Canada - A Beautiful 'Zebra Design' home.  Completely new construction in 1996, re-zoned from Single Family to Duplex, but only an outside shed wall is attached.  NO COMMON WALL feels like a Single family home surrounded by Mediterranean gardens and a gorgeous gated wrought iron entry.  A one minute walk to Dallas Road oceanfront.(beach)  Enjoy the cozy gas fireplace in the spacious living room.  Bright open kitchen with eating and sitting area that leads through double French doors into an amazing private patio/garden to enjoy everything from romantic meals to sun bathing!  Upstairs offers three bedrooms and 2 full bathrooms one  being an en-suite.  Also upstairs for convenience, a full size Whirlpool Duet washer/dryer.  Draperies from London's Osborne & Little and Harrods.  Wood blinds and drapes stay with the home.  Roughed in Central Vac.  This one is really special..excellent location for beautiful strolls...parks, paths, and oceanfront.  Close to all amenities.    

2007 BODES WELL FOR ALL IN VICTORIA REAL ESTATE

In 2006 the value of all property transactions through the Victoria Real Estate Board's (VREB) Multiple Listing Service hit a new record high of nearly $3.4 billion in 2006, up from $3.2 billion in 2005. 

For the first time in history, the value of single-family home sales exceeded $2 billion; the value of all condominium sales increased by nearly seven percent to over $614 million.  The overall average price for single family homes for the year rose by 12.5% to $521,460; the average for condominiums rose by 13.6% to $286,058 and the average for town homes rose by 6.3% to $366,080.

In addition, last year more properties became available for sale and the rate of price increases slackened a little bit.  "Volume and average transaction values were both healthy; "notes Judy Gage, President of Royal Le Page Coast Capital Real Estate.  All indicators point to a strong and stable real estate market in 2007.  "We expect to see a wide choice of properties available for buyers coupled with strong demand for homes that re priced realistically.  Prices are expected to increase during the year, but at t more modest pace than in recent years." 

Victoria will remain an excellent real estate market for the long term.  In-migration is predicted to remain strong, employment is up and we continue to be ranked as one of the most beautiful cities in the world, according to the prestigious travel magazine, Conde Nast Traveller.

For more information on the burgeoning island real estate market, please call Brenda Russell at 250.744.4556 or toll free from anywhere in North America at 1 800 550 0585.

I just sold this House at 4049 Livingstone Avenue N, Victoria BC in the Saanich East (Mt Doug) neighborhood.

View this recently sold House or see all my home sales

In the popular Oak Bay area of Victoria, so far you will see the activity in the different Map areas.. I started with South Oak Bay.

South Oak Bay has 16 current listings, 4 pending sales and 1 sold listing.

North Oak Bay has 1 current listing and no pending sales or sold listings.

Gonzales has 2 current listings, 1 pending sale and 1 sold listing.

Estevan has 5 current listings, 1 pending sale and 4 sold listings.

Henderson map area has 12 current listings, 1 pending sale and 6 sold listings.

Uplands so far this year has 11 current active listings, 1 pending sale, and no sales to date.

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.

I just finished uploading this Modern West Coast, 6648 Rhodonite Drive, Sooke BC

A BEAUTIFUL 2002 built home...Just like a show home. No GST to worry about! The upper level is bright with south exposure and features vaulted ceilings in the living room, french doors off the dining area to the front deck. Nice kitchen with skylight, Cherry 'shaker' style cabinetry, new dishwasher, built-in microwave, fridge and stove remain with the home. Kitchen eating area leads to a sliding door onto a covered back deck with access to the rear yard. Great for BARBIQUES! Large lot. Rear yard offers a great fence down both sides, lawn space as well a section of pressed concrete for your patio area...very nice! This home rests on the high side of an exciting newer subdivision and is adjacent to a vacant lot owned by the District of Sooke. In front of this lot is 'Pine Ridge Park'. Double car garage attached to the home. Landscaped and on sewers. Very convenient location, close to bus and all amenities.

I just finished uploading this House, 4049 Livingstone Avenue N, Saanich East, Victoria, BC

Single level living at its best! BEAUTIFUL, describes this "move-in" condition, highly sought after rancher, nestled in the popular Mount Doug area. Bright kitchen with newer appliances (gas stove), eating area leads to a cozy family room and second fireplace. Three bedrooms, the Master offers a walk-in closet and 4 pce. ensuite. Newer flooring throughout including 100% wool carpeting. Double garage. Newer roof. Large shed. Immediate occupancy can be arranged. Close to parks, rec centers, University Hts.

Victoria Real Estate Board Statistics for 2006

Taken from the Victoria Real Estate Board statistics, it showed that single family listings were up 14% over 2005.  The number of "sales" were down 4%.  Single family dwelling prices went up 11% and sale to list ratio was at 64%.  The average number of days homes were on the market was approximately 43 days before selling. 

Condominiums for 2006...listings went up 35%.  The number of unit sales went down 4%.  The average listing price went up 14% and the sale to list ratio was at 59%.  The average number of days condominiums were on the market before selling was 46 days. 

Currently there is good activity however some home Sellers are slow to accept the balancing of the market and have great price expectations. 

Canada Keeps Key Rate at 4.25%, Says Risks Have Ebbed (Update1)

Jan. 16 (Bloomberg) -- The Bank of Canada kept its benchmark interest rate unchanged for a fifth meeting, saying the risks to the economy from an export slowdown or a housing boom have ``diminished'' and remain ``roughly balanced.''

The target rate for overnight loans between banks remains 4.25 percent, the highest since August 2001 and 1 percentage point less than the U.S. Federal Reserve's target. All 26 economists in a Bloomberg News survey had predicted no change.

``The Bank continues to judge that the risks to the inflation projection are roughly balanced, but the main upside and downside risks outlined in the October Monetary Policy Report have diminished somewhat,'' said the central bank's statement today from xml:namespace prefix =" st1" ns =" "urn:schemas-microsoft-com:office:smarttags"" />Ottawa.

Canada's economic growth slowed to a 1.6 percent annualized pace in the second half of last year, slower than the 2.4 percent the central bank predicted in October, and will accelerate to a 2.5 percent pace in the first half of 2007. Domestic demand has remained strong and exporters have made much of the adjustment to a drop in U.S. demand, the central bank said.

Bank of Canada Governor David Dodge has kept rates unchanged since May because a high dollar slowed exports, helping control inflation in an economy overstretched by record demand for new homes and energy. His next move depends on whether exports rebound this year or if there's a shift in the job market, where unemployment is the lowest in three decades.

`On Hold'

``The Bank will be on hold for a few more months at least, though we still expect rate cuts thereafter,'' Avery Shenfeld, an economist with CIBC World Markets in Toronto, said in a note to clients. The central bank is focusing more on low unemployment than on slower economic growth, he said.

Canada's economy probably grew at a 1.5 percent annualized pace in the fourth quarter, the slowest pace since the second quarter of 2003, according to the median estimate of 13 economists surveyed Jan. 2-8 by Bloomberg News. Growth will probably rebound to 2.3 percent this quarter, the survey said.

The central bank will probably cut the benchmark rate in the third quarter, the economists' poll shows. The next rate announcements are scheduled for March 6 and April 24. Dodge also holds a press conference in Ottawa Jan. 18 after releasing the broad economic forecast used to make today's decision.

Full Output

Canada's economy will remain ``near'' full output this year and next, the Bank of Canada said today. Core inflation, the central bank's preferred measure of future price trends because it excludes eight volatile items and the impact of tax changes, will slow to the bank's 2 percent target in the first half of this year.

Dodge said last month that the economy's slowdown would last longer than he had expected, after saying in November that it would be ``mild'' and ``short-lived.''

The Canadian dollar's rise to a 28-year high of more than 91 U.S. cents in May has hurt manufacturers, by making their products less competitive in the U.S. and elsewhere overseas. Canada's trade surplus with the U.S. fell to a three-year low of C$6.65 billion in October before rebounding to C$7.34 billion in November as the dollar fell to about 85 U.S. cents.

The currency, which touched a 13-month low on Jan. 11, has fallen on lower prices for Canada's exported crude oil and natural gas. Today the currency rose to 85.68 U.S. cents at 9:18 a.m., from 85.59 cents yesterday.

Oil Reserves

The western province of Alberta has the largest oil reserves outside the Middle East, and energy companies have scrambled to find workers to build pipelines and refineries. That has boosted wages and lowered the jobless rate to 6.1 percent in December, which matched a 31-year low set in May.

Consumers have spent their new paychecks on new homes, driving prices up 11 percent in November from a year earlier. Dodge has said consumer spending and home prices create the risk that inflation may move above his 2 percent target.

The consumer price index excluding eight volatile items such as fruit and gasoline rose 2.2 percent in November from a year earlier, led by food and shelter costs. Permits for new buildings rose to a seasonally adjusted record C$6.3 billion in November, suggesting housing costs may increase further.

Central bankers ``aren't going to reduce rates until they see the core inflation rate below the 2 percent level,'' Dale Orr, managing director of Canadian economic research in Toronto for Global Insight, a forecasting firm, said before today's announcement.

To contact the reporter on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net .