Just a 20 minute stroll from Witty’s Lagoon you’ll find this sunny hilltop hideaway set in its own 1.25 acre woodland with commanding southerly views of the Olympic Mountains and the straits. The home is perfect for sunbathing with its huge deck or for cosy winter fireside storm-watching though the wall of windows.  Three bedrooms and 2.5 bathrooms plus bonus observation lounge beside the master bedroom!  Listed at just $639,000.

Come see Colin Moorman at our Open House, Saturday May 19th, 2–4:00 p.m. @ 414 Chapel Heights Drive.

Come see Colin Moorman at our Open House, Saturday May 12th, 2–4:00 p.m. @ 1130 Woodstock

We’re NOT disappearing nor retiring.  In fact, we’re very enthusiastic about helping them build and improve on our experience with Real Estate Sales, Rentals and Property Management. 

David is now Managing Broker and Barry will remain as Associate Broker in charge of increasingly complex technology.  Lois will assist in managing the company but also welcomes the opportunity to spend more time with people than paperwork.  Ole and David, along with Colin Moorman, will also continue expanding their exceptional and highly regarded services as the Duttons Sales Team.

Please join us in warmly welcoming Ole and David as the new owners of Duttons & Co. Ltd. We all look forward to helping you continue/begin your Real Estate and/or Property Management journey.

With great expectations,

 - Barry and Lois Dutton

VICTORIA, BC (May 1, 2012) – Pricing and sales numbers for most categories are essentially the same as in March 2012, spelling out a balanced real estate market for Greater Victoria. "That's good news for both buyers and sellers," says Carol Crabb, President of the Victoria Real Estate Board. "The one category with increased sales is condominiums with 19% increase. New developments came on-stream in View Royal and Langford, resulting in a higher sales volume."

The average price for single family homes sold in Greater Victoria last month was $609,376, down from $640,553 in March which was slightly elevated by two sales over $4 million. The median price, however, rose to $560,000.

"Homebuyers have time to research their purchases without pressure by working with home inspectors, mortgage professionals and REALTORS®," Crabb says.

Total MLS® sales for April 2012 were 586, with 565 of those residential, compared to 574 and 540 respectively for the same period in 2011. Overall, current sales are on trend with the average 10-15 year cycle. Active listings were 4,638 for April 2012.

Cameron Muir, Chief Economist of the British Columbia Real Estate Association, expects modest growth in the economy, combined with a strong Canadian dollar will keep the Bank of Canada from raising its trend-setting interest rate until 2013.

These graphics compare quickly compare this month with last month

Total waterfront Single Family Dwellings sold: 13, down 1 sale over April 2011
Total non-waterfront Single Family Dwellings sold: 316, down 9 sales over April 2011
Single Family Dwellings sold over $1 million: 18 (3 over $2 million)

This table compares this month with last month and last year.

Summary Report and Graphs

Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

When Interpreting Our Statistics

To ensure sales are not over-reported, we report net sales: that is, the number of sales less the number of collapsed sales, if any.  Average Price is the total dollar volume of sales for the month divided by the number of sales in the month.  Six Month Average is the total dollar volume of sales for the last six months divided the total number of sales in the last six months.  Median Price is the mid-point price between the least expensive sale and the most expensive sale in the month.

VICTORIA, BC (April 3, 2012) – Single family homes sales have risen 17% since last month, while the six-month average price is up 1% to $599,551. The average price of a Greater Victoria single family home in March 2012 is $640,553 up from $579,985, but is affected by the sale of two homes over $4 million. Compared to March 2011, active listings in this category are up 5% to 1,858, while sales are down 7%.

Sales of condos and townhomes are flat, compared to February 2012, while down significantly from 12 months ago (17% and 15% respectively). Condo prices are unchanged, while townhomes are 1% lower than March 2011.

"With softer prices, buyers have been looking at houses," says Carol Crabb, President of the Victoria Real Estate Board. "That is now being reflected by the six-month average price increase. We predicted a flat market in January, and so far that is what we are experiencing."

She also believes sales activity was affected by poor weather and many families travelling over the two-week spring break. "REALTORS® tell me many clients took the time for family vacations," Crabb adds.

With a total of 4,274 active listings, properties on the market have edged up from last month (3,977 active listings at February 29, 2011). Increased supply levels reflect typical spring activity as seen year over year.

These graphics compare quickly compare this month with last month.

Total waterfront Single Family Dwellings sold: 14, equal to March 2011
Total non-waterfront Single Family Dwellings sold: 311, down 26 sales over March 2011
Single Family Dwellings sold over $1 million: 26 (4 over $2 million)

This table compares this month with last month and last year.

Summary Report and Graphs

Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

…at least not for many Victoria homebuyers!  In their almost manic search for the “perfect” home, they over-analyze, over-investigate, over-inspect, over-research and then get themselves so overwhelmed with information, they’re too confused to make a decision.  

No one is suggesting reckless disregard for the facts, of course, but in my almost 30 years of working with literally thousands of buyers, I’ve always been so impressed by how much happier are those buyers who “lead with their hearts” than those who “lead with their heads”.  Homes have warts, all of them, and there’s no “perfect” home just as there’s no “perfect” child……

Homes are like babies;  if we fall in love with them at our first introduction we mostly overlook their idiosyncrasies and their imperfections and their inconveniences…..we just live with them and love them anyway.

Victoria’s housing inventory doesn’t change significantly over weeks and months, even years.  Addresses come and go but types don’t.  There’s no “hidden gem”, all polished and pristine, just waiting for YOU if you search long enough.  So let your hearts rule………and get moving!

Again, this does NOT mean ignoring major faults and deferred maintenance and poor layouts unless you’re being financially compensated for them.  It simply means don’t reject 79 homes, all the while waiting for the “perfect” one.  Eventually, “buyer-fatigue” will set in and you’ll sign that offer for a home that you probably don’t even like very much………I’ve seen that happen many times!  Or you’ll continue to pay your landlord while you wait “for prices to come down”.  We have clients from 1999 who are still waiting!

Pity, that.  There are some sellers who, for personal or financial reasons, are willing to sell for 5% to even 15% below current market value, just to get on with their lives.  An experienced, energetic and patient Realtor can find these opportunities for you.  So, let your heart rule your head;  find an “imperfect-but-more-than-adequate” new home that you can love……..and get on with YOUR life!

Lois D.

• This large family of builders may not construct the most homes in North America but they're deemed to be the second worst offenders at affecting our environment.  So far, CRA and the IRS have not been successful in collecting taxes because these wily builders are very clever at hiding any income.  They’re to be admired, of course, for the quality and longevity of their buildings.  Some have been known to exist for over 100 years, and they’re mostly impervious to damage from water ingress, wind, earthquakes or terrorists.
• They construct entirely with wood, stubbornly refusing to consider using more sustainable materials. They’re extremely diligent; their work ethic is much to be admired.  While they have little knowledge of technical construction methods, they’re highly skilled architecturally.  They ignore building codes and zoning and they choose to build only in prime areas, mostly waterfront.  If water access is not available they cavalierly create it.  The name of these nefarious builders?  Beavers!
• Our continent abounds with “beaver-made” lakes, often with massive destruction of forests, wild life, highways and farmlands.  Of all living creatures except humans, they cause the most change to the environment……..but they sure are cute!

Lois D.

Take this little quiz and find out…..it may have you quakin’!  Your house is insured for $500,000 which would be its replacement value if it were completely destroyed.  You’ve agreed to pay a 10% deductible which is fairly standard. However, one day there’s a “sort of earthquake” which causes $100,000 damage.  You’ve suffered through all the required appraisals and adjustments and estimates, so now what’s the maximum payout you can expect to receive?
                                    (1) $90,000?      (2) $50,000?      (3)  Nothing?

The obvious answer seems to be (1) but unfortunately the 10% deductible is applied against the TOTAL insured value of $500,000, not 10% of the damage cost.  So then the answer seems to be (2)……but we’re not done yet.  Check your policy; it may have a clause stipulating that the minimum deductible is $100,000.  In that distressing situation, the answer would be (3).
                       
If you’d like more details check with your insurance company or contact the friendly folks at Hodges Insurance.

Lois D.

Sometimes I’ll mention names of certain services or professionals we’ve found to be truly outstanding, not just satisfactory.  These referrals are unpaid and unsolicited.  While we can’t guarantee them, of course, we hope you’ll be pleased when you check them out.

Or don’t die or get divorced or lose your job or have a fight with your co-signer or buy a car until your home purchase has completed!  These important events could encourage your mortgage lender to refuse financing on your new home, even after you’ve removed all your conditions. They would consider that you’d changed the qualifying terms of your agreement.

If you find yourself in one of these precarious situations, first run to your lawyer for advice. (If you’ve died, that might not be too practical!). Your lawyer may advise you to inform your bank or mortgage broker or to hold off on that car or motorcycle or to check with your Realtor to see if the sale can be delayed or to consult a different lender who might be more lenient.

Lois D.

…the packing box, that is. Well, not a packing box exactly but rather a shipping crate.  It’s been suggested that perhaps metal shipping containers could be converted to housing for the homeless.  Critics will say that’s inadequate and demeaning, but isn’t it better than sleeping in a doorway or on a park bench or under a bridge?  Ask Rev. Al Tysick’s Dandelion people!  We all wish everyone could have clean, bright, modern housing…but it ain’t gonna happen in the foreseeable future…so let’s see what we CAN do!

Converted shipping crates could be made dry, warm, safe and comfortable.  They could be arranged in pods for sleeping/living accommodation with perhaps a communal kitchen and bathroom. That would solve the question of expensive wiring and plumbing for each container. Surely someone can find an appropriate piece of land, even if just temporary. These “pod villages” would be easily portable so long as necessary amenities were always nearby. Administration would be an issue perhaps, but if we all got “inside the box”, we’d find a way.  Perhaps the city of Victoria might even magnanimously waive their parking requirements!

The homeless already have their piece of real estate…the streets and sidewalks.  Let’s help them find something a bit better!

Lois D.