Stephanie Peat DFH Real Estate - Sidney

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

 
A pantry is the ideal nook for storing extra food and other items ordinarily crammed into the kitchen. It’s also a nice design feature, as it harkens back to the days of country kitchens with spacious pantries.
 
You might be thinking, “That’s nice, but our home doesn’t have a pantry.”
 
That’s okay. These days, there are many ways to create a pantry in your home – even if it doesn’t have one! Here are just a few suggestions:
 
• Add shelves to the laundry room. If you have the space, this is the
ideal place to create a mini-pantry.
 
• Purchase a portable pantry. There are many available on the market. Some are even disguised as cabinets you’d expect to see in living and dining rooms.
 
• Purchase a movable pantry. These units are on wheels and can slide in and out of the kitchen with ease. Some are short enough to slide conveniently under a kitchen table.
 
• Make use of an unused closet. These are rare in most homes, but if you have a closet that isn’t being used, it can easily be converted into a pantry.
 
As you can see, there are plenty of options available. You don’t necessarily need to build an extra room!
 
 
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When considering which of two or more competing offers to accept for your home, there is no doubt price plays a huge role. After all, if Offer #1 is $10,000 higher than Offer #2, that’s an enticing difference that puts thousands of extra dollars in your pocket.
 
However, price isn’t the only thing you should think about when comparing multiple offers. There are other factors you need to consider as well.
 
For example, what conditions are in the offer? If Offer #1 is conditional upon the buyer selling his current property for a specific amount, then what if that doesn’t happen? You could end up with an offer that dies and be forced to list your home all over again.
 
In that circumstance, accepting the lower offer may be your best move.
 
There’s also financing to consider. Most buyers will attach a certificate from their mortgage lender to show that they can afford the home and will likely secure financing with little difficulty. If you get an offer where the ability of the buyer to get financing is in doubt, that’s a red flag.
 
The closing date is another important factor. Offer #1 might propose a closing date that’s perfect for you, while Offer #2 is four weeks later. If you’ve already purchased another home, you might require a month of bridge financing if you accept Offer #2. There’s nothing wrong with that per se, but the costs and additional hassle are factors you should consider.
 
As you can see, assessing competing offers isn’t as easy as it looks. Fortunately, as your REALTOR®, I will guide you toward making the right decision.
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September 1 2016, Victoria, BC


A total of 883 properties sold in the Victoria Real Estate Board region this August, an increase of 19.2 percent compared to the 741 properties sold in August last year.


“August is a record breaker in more than one way. For the sixth consecutive month, we have a sales record with more sales than any other month of August on record,” says Mike Nugent, 2016 President of the Board.


“We also have the lowest number of listings available for sale in an August than we’ve seen in the last twenty years. That lack of inventory will continue to put pressure on pricing. Sales would be even higher were there more inventory available for buyers to purchase. Regardless of the low inventory, it’s safe to say that by mid-September we will have surpassed the number of sales for all of 2015, with four months remaining in the year.”


Inventory levels remain lower than last year, with 2,094 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2016, 43.2 per cent fewer than the 3,688 active listings at the end of August 2015.


“As we saw last month, the expected seasonal slowdown continues as we move towards the autumn,” adds Nugent. “August tends to be the slower summer month, though the year-over-year sales numbers are very strong. This shows continued consumer confidence in the Victoria real estate market. It is early to determine a trend, but we don’t see any early indications that the foreign investment Property Transfer Tax implemented in Metro Vancouver has impacted sales to any extent in Victoria at this time.”


The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August, 2015 was $603,200. The benchmark value for the same home in August 2016 has increased by 23.8 per cent to $746,900

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