Victoria Realtor Todd Mahovlich

Victoria Real Estate Solutions

Todd's Cell 250-893-6618

Todd's Office 250-477-5353

Email: todd@vres.ca

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We have listed a new property at 1 8360 Sa-seen-os RD.
Edelweiss Chalets Lake life that makes sense. The ?Hemlock? is one of five cottages on the property that shares a large wharf and fieldhouse (games room, Theatre, laundry). The Hemlock is the only unit with a private beach and massive deck literally on the lake it faces southwest for maximum sun exposure. The Hemlock offers 2-3 bedrooms, one on the main. The Hemlock was completely renovated and fully furnished in 2006. This 1/3 ownership is structured with a co-ownership agreement stipulating rotation of time and expenses. Rentals are okay as well, one of the only locations on the lake that is actually zoned residential commercial allowing nightly stays (rents for $1500 per week). Come live the lake life on Cowichan Lake.
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Please visit our Open House at 2637 Savory RD in VICTORIA.
Open House on Sunday, September 8, 2013 13:00 - 15:00
O/H sUN 1-3 LAKEFRONT LIVING! This house has had a complete overhaul! New everything inside and out! With Master on the main, stunning spa like ensuite with heated travertine and TV above your soaker tub. Relaxing LAKE VIEWS while cooking in the kitchen, lounging in the living room or waking up to the sun shining off the water. Downstairs you will find huge rec room with rough in bar, and media room. A crushed granite fireplace in the living room for those cozy nights. Your own private dock, great for a relaxing glass of wine to unwind after a busy days work. All this on a 1/3 private acre, feels like you are on vacation everyday, but yet in the heart of Westshore. Built in sprinklers in the back yard, heat pump, and tons of extra storage
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http://business.financialpost.com/2013/09/06/real-estate-investing/

 

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Bank of Canada Interest Rate Decision - September 4, 2013

The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 1 per cent. In its accompanying statement, the Bank highlighted that an uncertain global economy is delaying an expected rotation of growth in Canada toward exports and investment. This means that the burden of economic growth will remain on households at a time when most households are deleveraging and looking to slow consumption. All of this adds up to a Canadian economy that will grow below trend in 2013, likely at a rate of around 1.5 per cent.  Below trend growth will translate to continued subdued inflation, which the Bank anticipates will return slowly to its 2 per cent target in 2014. As for the Bank's tightening bias, language around the withdrawal of monetary stimulus has been significantly moderated. The Bank anticipates a gradual normalization of policy interest rates as conditions for inflation, growth and household debt normalize.

Rising long-term Canadian interest rates, along with somewhat soft economic growth through the first half of 2013, have taken some urgency out of future monetary policy tightening. In particular, higher long-term rates will further slow growth in household debt via higher mortgage and other key lending rates which will allow the Bank to push increases in its overnight out to late 2014 or early 2015.

 

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September 3, 2013
STRONGEST SUMMER IN FIVE YEARS FOR PROPERTY SALES IN GREATER VICTORIA
VICTORIA, BC–Summer-time real estate sales numbers were the best they’ve been in Greater Victoria in five years. There was a total of 1,787 sales in June, July and August.
On a monthly scale, total real estate sales in Greater Victoria were up 16.8 per cent in August 2013 over August 2012, the Victoria Real Estate Board reports. A total of 540 properties sold in August, finishing off a strong summer market.
“I’m very pleased with the August results. MLS® sales are strong and, with 4,593 active listings in all categories at month end, we remain on the cusp of a balanced market,” says Shelley Mann, President of the Victoria Real Estate Board.
The BC Real Estate Association defines a balanced market as when the ratio of sales to active listings is between 15 and 20 per cent. At month end, Victoria’s ratio for residential properties was 14 per cent.
There were 308 single family homes sold in August, an increase of 28.3 per cent over August 2012, while the median price of $529,950 is up less than one per cent year over year from $526,250. There were 125 condominium sales with a median price of $287,000 and 70 townhomes sold at a median price of $415,000.
“Overall, pricing remains flat and our provincial economist predicts the trend will continue for another year. That said, the year-over-year median price of condos is up 9.2 per cent and the median of townhomes is up 12.5 percent,” Mann says. “This will vary between neighbourhoods, which is why I always recommend that consumers consult a REALTOR® for local pricing.
“With interest rates starting to increase, many buyers are locking into preapproved mortgages. These consumers should be purchasing in the next three to four months, so I believe the market will remain steady,” Mann says.
Total Waterfront Single Family Dwellings sold: 20, up 7 over August 2012
Total Non-waterfront Single Family Dwellings sold: 288, up 61 over August 2012
Single Family Dwellings sold over $1 million: 17 (2 over $2 million)

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We have listed a new property at 1029 Joan CRES in VICTORIA.
Custom Built Home by Award Winning Abstract Developments. Beautiful open floor plan with Huge Master Bedroom on main level deluxe ensuite bathroom and two storey vaulted ceilings in the Great Room. Fantastic Rockland location offering easy access to town and all amenities. Many custom features including in-floor radiant hot water heating, Deluxe cabinets in a gourmet kitchen, Hardwood floors, custom doors and so much more. Bonus Room above the double garage can make a great "guest suite" or entertainment sized Media Room. Nice landscaped lot with water feature, patio space and fenced back yard.
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