Stephanie Peat DFH Real Estate - Sidney

Office 250-656-0131 | EMAIL info@stephaniepeat.ca |


No one wants to deal with a burglary. How do you reduce the chances of one happening? Fortunately, burglaries are a well-studied phenomenon — especially by law enforcement. These studies have identified specific things you can do to cut the risk dramatically. Here are some ideas:


• 34% of home break-ins occur through the front door. Experts recommend investing in a door with a top-quality locking mechanism. (The best are those that lock at three points of contact.)


• 50% of burglars will be deterred if your home has some sort of video monitoring system. A thief doesn’t want his face on YouTube!


• Unfortunately, signs and window stickers warning of an alarm system do not deter thieves. However, 62% of burglars will immediately run away when an alarm goes off. Always turn on your alarm system when you’re not home!


• 22% of burglaries occur through a sliding glass door or patio door. Make sure it’s locked and also use a solid metal jammer.


• Some thieves use frequency scanners to gain access to garages. Police recommend changing your remote entry code regularly and putting blinds or curtains on garage windows so thieves can’t see (and be tempted by) any valuables inside.


As you can see, there are many simple things you can do to reduce your chances of a burglary dramatically. The effort is worth it!

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If you are considering selling your home, you will need professional help to ensure your home gets maximum exposure and is properly marketed. Enlist the services of a REALTOR® to make sure you achieve your goal.


The listing is the beginning of a selling process that includes a well-thought-out marketing plan, accessibility to a wide range of potential buyers, and commitment to professional service.


Technically speaking, a listing is an authority granted by you to a real estate agent to act as your REALTOR® in offering your property for sale according to the terms and conditions set out in the listing contract. When you list your home with a real estate agency, you are entering into a binding agreement with that firm, so it is important to choose a company and a REALTOR® with whom you will be satisfied. To find the right firm and individual, ask friends and relatives for recommendations and try interviewing three REALTORS® and ask them about the services that they will offer when they list your home.


What you can expect

Your REALTOR® will conduct a thorough inspection of your property and do a comparative market analysis to see what similar homes in the area are selling for. This, along with your individual circumstances, will help you determine a suitable price range for your home. You will also decide how long the listing will be.


Placing your home on the Multiple Listing Service® (MLS®) gives it maximum exposure in today's marketplace because it ensures details about your home are shared with all other REALTORS® in the Victoria area, all of whom are members of the Victoria Real Estate Board.


Your REALTOR® will ask you for information on taxes, surveys, title deed, and the mortgage, if any-- all of which is important to potential buyers -- and will tell you about preparing your home for sale, arranging showings and open houses and what's involved in offer presentations.


Scouting for buyers

Once the listing is complete, your REALTOR® will check his or her contact lists and begin to try and pinpoint and pre-qualify potential buyers for your home. This way, you avoid an endless parade of people coming through your home who are not serious about buying.


If an offer to purchase is made while the listing is in force and you accept it, you will then owe the real estate agency a commission for having used its services. Be aware that that there is usually a holdover clause in listing agreements. This means that a commission is owed to the agent even after the listing expires if one of the buyers who were introduced to the property through the agent buys it within a specified time period.

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Determining if you should buy a new home or fix up your current one isn’t easy. In fact, the decision can be steeped in so much drama they make reality TV shows about it!


So if you’re considering whether to move or improve, here are three things to consider.


1. Will a renovation truly fix what you don’t like about your property? If you’re tired of a small kitchen, for example, it might not be possible, given the layout, to make it any bigger. On the other hand, if you’re craving a spacious rec room with a cosy fireplace then a renovation could make that happen.


Of course, there are some things you may want that aren’t specific to your house, such as an easier commute or nearby park. Those are features you may only be able to get by moving.


2. How much will a renovation cost? How does that compare to the cost of moving to a new home? It’s important to get accurate estimates of each so you can make a smart decision. This is where a good REALTOR® can help. Keep in mind that renovations have a habit of costing more than you originally anticipate. As mentioned earlier, the final result should be a home you want to stay in for quite some time.


3. Beware of compromising versus settling. Whichever decision you make — renovate or sell — you can expect to have to make at least some compromises. That’s normal. For example, consider adding an extension to your house. That’s a major renovation. Is it the ideal way to get the extra room you want? Do the benefits of renovating outweigh the benefits of finding a new larger home designed to include the space you need?

 

Yes, it’s a tough decision. If you’re in the midst of making it, call today, to get the facts you need to make the best choice for you.

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April 1, 2016 Victoria BC – The Victoria Real Estate Board today released its report on Multiple Listing Service® real estate activity in the Victoria area for the month of March 2016.


A total of 1,121 properties sold in the Victoria Real Estate Board region this March, an increase of 52.7 percent compared to the 734 properties sold in the same month last year.


Inventory levels remain lower than the previous year, with 2,618 active listings for sale on the Victoria RealEstate Board Multiple Listing Service® at the end of March, 30.5 per cent fewer than the 3,769 active listings atthe end of March 2015.


“I think the strong uptick in the market has surprised many of us! The business cycles of real estate areaffected by economic drivers and it’s clear that this cycle has all possible drivers running at top speed. Manydifferent factors may be contributing to this activity,” notes Mike Nugent, 2016 President of the Board. “Pent updemand from the slower years of 2008 to 2013, lower than historic mortgage rates, strong interest from out oftown buyers, a buoyant economy that’s attracting job seekers and the lifestyle and beauty that Victoria andarea offers all contribute to the activity we’ve seen this year.”

 

 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in March 2015 was $569,700. The benchmark value for the same home in March 2016 has increased by 16.4per cent to $663,300.


“Though we represent a relatively small geographic area, there is variation in price and inventory in different neighbourhoods,” adds Nugent. “Areas near the downtown core continue to see high demand for houses and condos, as do most areas in the Peninsula. The West Shore has also strengthened considerably but pricing remains lower than in the core because there has been more inventory to meet demand. Further out of town there has been less demand, but overall all areas have now strengthened in sales. More than ever I encourage buyers and sellers to connect with a local REALTOR® to develop a strategic approach in this fast moving market.”

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