Stephanie Peat DFH Real Estate - Sidney

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


Staging is all about dressing up your home so that it looks its best to buyers. This can involve anything from rearranging furniture and doing some home improvements, to painting and redecorating, to even replacing existing furnishings and other items. The goal is to make key rooms look worthy of a magazine cover!


But is it worth the effort? Can’t you just clean and tidy and, perhaps, do a little painting?


Sometimes you can — especially if your home is in high demand and likely to get multiple offers.


However, in most cases, staging can help sell your property faster and for a higher price.


In fact, studies done by the home staging industry consistently reveal that staged homes sell for an average of 5-23% above list price. (That varies, of course, depending on the local market.)


Keep in mind that you don’t necessarily need to do extensive staging. You may, for example, be able to focus on only key rooms on the main floor — where buyers tend to form their lasting impressions — and then simply clean and declutter the other rooms.


When it comes to staging, you have many options. Each home is different and will have different staging needs.


Want to find out how staging may impact the sale of your property? Call today.

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When you’re shopping for a home, you may become interested in a property for sale that someone else is also considering. In fact, there may be several other buyers entertaining the idea of making an offer.


In such a competitive situation, what should you do if you really love that home?


Obviously, you’ll need to move quickly and make some fast decisions.


Start by making certain the property fits within your price range. The last thing you want is to have an offer accepted and find out it is beyond your budget. That’s why it’s a good idea to arrange for financing before you go home shopping.


Next, you want to make an offer that is so enticing to the sellers that they’ll put your offer at the top of the pile, if not close to it. So, what makes an offer enticing?


Obviously, price is a big factor. You want to go in at a price that’s attractive to the sellers, without overpaying. Imagine finding out later that the nearest offer to yours was $15,000 less. Ouch!


Chances are your offer price will need to be at or slightly above asking. Find out what similar homes in the area recently sold for — what real estate agents call “comparables” — and use those as a guide.


It’s also important that your offer contains few, if any, issues that may be concerning to the sellers. The ideal offer will feature:


-  No conditions

-  A closing date that’s convenient for the seller.

-  A deposit amount that shows you’re a serious buyer.

-  Acceptance of any of the buyer’s “exclusions”. (For example, they want to take the fridge and stove with them.)

-  Evidence you can get financing. (Many lenders offer a “Mortgage Preapproval Certificate”.)


Although a “no conditions” offer is the most attractive, including a condition on passing a professional home inspection is usually not a problem, so long as the inspection is done quickly. Avoid adding other conditions, such as “subject to financing approval” or “subject to the sale of buyer’s existing property”.


If you want to increase the likelihood that you’ll find — and, more importantly, get — your next dream home, call today.

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February 1, 2021  A total of 646 properties sold in the Victoria Real Estate Board region this January, 57.2 per cent more than the 411 properties sold in January 2020 and 2.4 per cent more than the previous month of December. Sales of condominiums were up 83.1 per cent from January 2020 with 216 units sold. Sales of single family homes were up 48.5 per cent from January 2020 with 297 sold.

"Our bustling market continues to be fueled by strong consumer demand to own a home in Greater Victoria, driven in part by low interest rates and by the overall desirability of our larger community," said Victoria Real Estate Board President David Langlois. "This continuing demand, coupled with our record low inventory, has resulted in competition for desirable properties. The competition for sparse inventory has pushed both pricing and activity up and has created the very fast-paced market that we've been experiencing for the past several months."

There were 1,321 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2021, 32.5 per cent fewer properties than the total available at the end of January 2020 but a 3.3 per cent increase from the 1,279 active listings for sale at the end of December 2020.

"The luxury home market continues to significantly outpace previous years," adds Langlois. "For example, in January 2020, four homes over two million dollars sold. This January, twenty-five sold. We also see a continued strengthening in the condominium market across all price points. Right now, navigating both the buying and selling process is challenging. With many moving pieces and in such a fast-paced market it's important to leverage the experience and expertise of your trusted local REALTOR®."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in January 2020 was $860,700. The benchmark value for the same home in January 2021 increased by 8.3 per cent to $932,000, a 1.8 per cent increase from the previous month of December. The MLS® HPI benchmark value for a condominium in the Victoria Core in January 2020 was $523,400, while the benchmark for the same condominium in January 2021 remained close to last year's value at $518,800, a 0.9 per cent decrease.

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.