Attention home buyers! You probably can’t wait to get out there and make an offer on your new home. But wait a minute. Don’t start shopping without a plan.

It will save you time and money and make sure you get the right home for you.

• Get your finances in order. This includes saving for your down payment, deciding on a budget, and getting pre-approved for your mortgage.
• Do some research and decide on features. Once you have a budget you’ll have a better idea of where you can look for homes, what type of home you’ll be looking for and what features are within your budget. Knowing the neighborhoods and deciding what home features are absolute must-haves gives you a good place to start narrowing down the search.
• Your real estate agent. You'll need a close ally by your side to guide you through the home-buying process. From pre-approval to closing day, I can make your home-buying process easy.
• Start your home search. Since you already know what you’re looking for this will be the fun part!
• Find the right home for you and make an offer. This is really where the final paperwork starts. You’ll put in an offer on paper and start the mortgage process.
• Get your home appraised and inspected. Many first-time buyers don’t realize these are two different things. The appraisal is required by your mortgage company and the appraiser is a neutral party that examines the property to determine the current actual value. With a home inspection, the inspector examines the house for major and minor defects and safety issues. Often the sale of the home is contingent on the inspection showing the home has no significant defects. Most buyers get a general home inspection, but depending on the situation, you may need additional inspections such as a pest or sewer inspection or a radon test.
• Get homeowners insurance. Contact your insurance agent and shop around for the right coverage.
• Do the closing paperwork. This is the last opportunity to make sure you understand everything and sign the papers. You will have some money due at closing and get the keys.

That’s it. Just a few simple steps and you’re on your way to moving into your new home!  Contact me when you're ready to get your own home-buying plan started.  I'll be glad to help.

April 2, 2024  A total of 588 properties sold in the Victoria Real Estate Board region this March, 0.3 per cent fewer than the 590 properties sold in March 2023 but a 25.1 per cent increase from February 2024. Sales of condominiums were down 10.2 per cent from March 2023 with 177 units sold. Sales of single family homes increased 1.8 per cent from March 2023 with 286 sold.

How stressful is selling your home? Respondents in one survey ranked it higher than divorce, losing a job, and becoming a first-time parent. Emotions can cause you to make bad decisions at a time when it's important to keep a clear head. Here are some expert tips to keep your emotions in check when selling your home. 

1. Understand Why You're Selling

Have you accepted a great new job offer? Maybe you need more room for your growing family. Understanding why you're selling your home lets you focus on the ultimate goal and keep from being distracted by bumps and curves along the way. 

2. Declutter and Depersonalize

As you prepare to sell your home and move to a new one, reminders of memories made in your current house will become even more important to you. Make a point to clear any clutter and pack up photos, souvenirs, and other personal memorabilia. In addition to minimizing your attachment, this activity will make your home more attractive to potential buyers. 

3. Avoid Expectations

Unfulfilled expectations lead to disappointment, which in turn leads to emotional thinking. For instance, if you set your mind on selling your home within a specific time period and it doesn't happen, you may start to panic and make poor decisions. Deal with the factors you can control and stay flexible with the rest. 

4. Stay Out of Showings and Open Houses

As a home seller, it's only natural to be curious about the reactions of potential buyers, but the homeowner side of you makes it hard to remain neutral in the face of negative comments or disinterest. Make it easier on yourself and buyers by finding somewhere else to be during showings and open houses. 

5. Set an Accurate Sell Price

Your home may be priceless in your eyes, but buyers aren't paying for sentimental value. Don't let emotion cloud objectivity and cause you to scare buyers off with an inflated price. Study the current housing market, particularly in your neighbourhood, and price your home accordingly. 

6. Follow a Positive Lifestyle

When stress causes you to lose sleep or eat poorly, it affects you emotionally as well as physically. Ultimately, you end up in a vicious circle where bad health and negative emotions feed off each other. Don't let the process of selling your home consume your days. Take care of yourself and make time for enjoyable activities to maintain balance. 

7. Hire a Real Estate Agent

The real estate industry is constantly changing, so no matter how many homes you've sold, it's difficult to stay up-to-date on trends, regulations, and market conditions. An experienced real estate agent can skillfully guide you through the process and be an objective third party to keep you on track. 

Selling your home is a potent emotional experience. Acknowledge your feelings, but don't let them take over. Approach the sale as the business transaction it is and pour your emotions into making your new house a home.

Storms, fires, floods, and power outages all have the power to disrupt your life. You can't stop emergencies from happening, but you can gather all the things you'll need to be prepared should a crisis arise.

If you have a messy closet or basement storage area in need of attention, your home improvement project can serve a dual purpose. Remove the junk, add inexpensive shelving, and stock them with emergency provisions. Add a tight-sealing storage container to protect your food from water and contaminants. In no time, you'll have a home emergency resource center that would make any survivalist proud.

Here are ten things to include:

Water
Even if you have a reliable water system, storms, animals, and bacteria can contaminate your supply. Water in bottles or pouches is an easy fix for water potability issues. You should also keep water purification tablets to treat water from questionable sources.

Food
Even if a fire or storm doesn't destroy your home, it might still contaminate your food. So you don't go hungry, stock up on cans or pouches of fruits, veggies, tuna, chicken, and other items. For variety, add granola and protein bars, peanut butter, dried beans, rice, and beef jerky. And don't forget the coffee and the can opener.

Paper Goods
So don't forget to add toilet paper and paper towels to your list. Store them in a waterproof container.

Light Source
Fortunately, there are several alternatives to battery-operated flashlights. One cool flashlight has water-powered cells. Another option available lets you hand-crank the flashlight. If you prefer the old-fashioned kind, don't forget the batteries.

Waterproof Matches
If the power is out, you'll still need to cook. That might mean firing up your grill or making a campfire. Either way, you'll need a waterproof lighter or waterproof matches. Both will light up even if they get wet.

First-aid Kit
Minor cuts and abrasions can be a real pain. Be sure to store an emergency kit to care for minor dings.

Fire Extinguisher
A fire extinguisher can keep a minor emergency from becoming a major catastrophe. Keep one upstairs and downstairs to manage not-so-friendly flames before they burn out of control.

Extra Clothes
You never know how long an emergency will last. Store extra clothes in a waterproof container, just in case.

Basic Tools
Add a few tools to your emergency stash: a hammer, pliers, screwdrivers, and a small hatchet so you can cut wood for a campfire. You might also want to add an extra set of house and car keys.

Personal Documents
The thing about emergencies is that you never know what might happen. Make copies of documents (driver's license, birth certificates, marriage license, passports) and store them in a waterproof container. You'll have backup copies if you lose the originals.

No homeowner wants to see an emergency situation in their home. But with the right prep, you can ensure your family and belongings will be safe in the event of a potentially serious emergency.

A total of 341 properties sold in the Victoria Real Estate Board region this January, 22.7 per cent more than the 278 properties sold in January 2023 and a 3.6 per cent increase from December 2023. Sales of condominiums were up 10.9 per cent from January 2023 with 112 units sold. Sales of single family homes increased 35 per cent from January 2023 with 162 sold.

“Our housing market eased into the new year with a renewed sense of balance,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “Sales were up slightly based off last year’s very low numbers, and overall, we saw the stabilization that we observed in late 2023 continue into 2024. Mortgage rates have levelled out, inventory is slowly creeping back up, and we are no longer in that highly pressurized market of recent years which created complicated and sometimes stressful conditions for buyers and sellers.”

There were 2,140 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2024, an increase of 0.4 per cent compared to the previous month of December and a 23.1 per cent increase from the 1,739 active listings for sale at the end of January 2023.

“I think this balance and stability in our market brings with it an optimistic outlook for the coming months,” adds Chair Lidstone. “If balanced conditions continue, buyers and sellers will have more time to make decisions and there will be less pressure on pricing. Of course, there are many factors that impact the market here in Victoria, and as we’ve seen in the past things can change very rapidly. If you are considering selling or buying, connect with a local Realtor to identify where your opportunities are as we move towards spring.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in January 2023 was $1,224,000. The benchmark value for the same home in January 2024 increased by 1.6 per cent to $1,244,000 down from December’s value of $1,268,000. The MLS® HPI benchmark value for a condominium in the Victoria Core area in January 2023 was $562,200 while the benchmark value for the same condominium in January 2024 decreased by 0.6 per cent to $559,000, down from the December value of $562,000.

If you were born somewhere between 1980 and 1998, you are a part of the Millennial generation.  Since you were born with the Internet practically at your fingertips, it only makes sense to say you live in a research-driven world.

Today, Millennials make up the largest group of home buyers and are powering the modern housing market.  If homeownership is a part of your Canadian dream, here are seven tips to help you have a better idea of what it takes to buy your first home.

Educate yourself.

When you're ready to make the plunge into buying your first home, I can walk with you through the home-buying process.  We will research available financial programs for first-time home buyers, discuss the mortgage application and approval processes, talk about what happens after you have a contract in place, learn about closing costs…the list goes on and on.

Get pre-approved for a mortgage.

Before you start your home search, you need to know your budget. The pre-approval process will help you do this.  While the pre-approval process gives you an idea of how much home you can afford, it is not the same as loan approval. It’s a quick review of your income and expenses and an estimate of what the lender would be willing to loan you. Loan approval requires documentation (paycheck stubs, tax returns, bank statements, home appraisals), and that all happens once you have a contract in place, so get your documents together.

Decide where you want to live.

Do you want a condo or single-family home? We can talk about different neighborhoods and decide which one fits best with your lifestyle.

Don’t expect to get everything you want.

Studies show that most people stay in a home between six and nine years.  It stands to reason you may buy several homes in your lifetime. Buy what you can afford and what works for you now (and possibly for the next few years to come).

Don’t overspend.

Lenders are in the business of lending money. You may technically be able to afford a more expensive home, but that might mean you never go on vacation (or even out to dinner).

Be realistic.

If you’re handy, buy something that needs work. If not, forego the fixer-upper. It’s not as easy as it looks on TV unless you have a big budget for contractors.

Get a home inspection.

An inspection should uncover foundation problems, water damage, and big-ticket electrical or plumbing issues that you just won’t find on a walk through.

Contact me when you're ready to start the search for your first home.

January 2, 2024  A total of 329 properties sold in the Victoria Real Estate Board region this December, 2.8 per cent more than the 320 properties sold in December 2022 and a 16.5 per cent decrease from November 2023. Sales of condominiums were up 14.9 per cent from December 2022 with 108 units sold. Sales of single family homes increased 1.3 per cent from December 2022 with 158 sold.

A grand total of 6,207 properties sold over the course of 2023, 8.77 per cent fewer than the 6,804 sold in 2022.

"I've spoken a lot this year about our market's return to traditional seasonal patterns," said 2023 Victoria Real Estate Board Chair Graden Sol. "And at the conclusion of 2023 we can see that this trend continues. This is a welcome relief for sellers and buyers after an extraordinary five years of real estate market disruption. Everyone benefits from a more predictable real estate market, so it is encouraging to see the rhythm of seasonal trends reestablished. If this continues into 2024, we should see more inventory added in January and February and an increase in sales as consumers prepare for the spring market. True to seasonal form, December met expectations and was a slow month, both for sales and for new listings."

There were 2,132 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2023, a decrease of 19.4 per cent compared to the previous month of November but a 26.3 per cent increase from the 1,688 active listings for sale at the end of December 2022.

"The single biggest impact on the housing market this year was interest rates," adds Chair Sol. "The increased cost of borrowing money meant that consumers had less purchasing power, which resulted in a drop in transactions. There is however still huge demand for housing in our market and as we move forward into 2024 and beyond, we need to continue to put focus on the creation of new supply so that as market activity increases prices don't increase as quickly. The only way to moderate housing prices is to bring supply closer to meeting demand. As always, our market is subject to many influences and the purchase and sale process is complex. If you are contemplating buying or selling in 2024, call your favourite local Realtor who can create the best strategy for you and for your property."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2022 was $1,236,500. The benchmark value for the same home in December 2023 increased by 2.5 per cent to $1,268,000, down from November's value of $1,286,400. The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2022 was $565,800 while the benchmark value for the same condominium in December 2023 decreased by 0.7 per cent to $562,000, down from the November value of $577,400.

Painting your home, especially the main floor, is the most affordable way to make your listing look great to buyers. But what paint colours should you choose?

Here are a few tips.

 When it comes to selecting a palette, neutrality reigns supreme. Bright, eccentric colours may reflect your personality, but remember, you're trying to appeal to a wide array of potential buyers. Neutral colours like whites, greys, and beiges are not only safe but also allow buyers to envision their own furniture and decor in the space.

 However, don't think of neutral as boring. Many subtle shades can add depth and character to a room. For example, a soft grey with a hint of blue can make a space feel serene and relaxing, and is ideal for bathrooms or bedrooms.

 The living room and kitchen are often social hubs of a home, and warmer neutrals can make these spaces feel welcoming. Shades like taupe or a creamy off-white can make these areas inviting yet versatile.

 Lastly, remember to take lighting into account. The way a colour appears can dramatically change under different lighting conditions. Always test paint samples under various light conditions before committing.

December 1, 2023  A total of 394 properties sold in the Victoria Real Estate Board region this November, a 2.6 per cent increase from the 384 properties sold in November 2022 and a 3.2 per cent decrease from October 2023. Sales of condominiums were down 11.8 per cent from November 2022 with 120 units sold. Sales of single family homes increased by 6 per cent from November 2022 with 193 sold.

"It's unsurprising to see this slight relaxation of sales in the market," said Victoria Real Estate Board Chair Graden Sol. "Given the current interest rate environment, our sales numbers are lower than long term averages, but the pattern of seasonality within those lower numbers is what we would expect for this part of the year. We have seen a healthy twenty-five per cent increase in the number of listings on market compared to last year and this is positive news as we recover from that long-term trend of very low inventory."

There were 2,644 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2023, a decrease of 4.1 per cent compared to the previous month of October and a 25.2 per cent increase from the 2,111 active listings for sale at the end of November 2022.

Outdoor living spaces have become the new heartbeat of homes — even in the winter. They now serve as an extension of the indoors, a place where homeowners can dine, entertain, and relax. So, it’s smart to emphasize the outdoor living potential of your home when you list.

Your garden is the first outdoor element potential buyers see. Well-maintained, colourful plants can make a fantastic first impression, so keep the garden lush and appealing. Include a variety of perennial and annual plants that bloom at different times in the season. Consider planting in containers or raised beds for easy maintenance, and use garden ornaments sparingly to keep the focus on the natural beauty of the space.

Next, your patio or deck can act as an outdoor living room. Consider staging it to make it look that way. Highlight any attractive, weather-resistant furniture you have. String lights or solar lanterns add a touch of warmth and make the space usable even after the sun sets.

And don’t forget about your barbecue or outdoor kitchen. A well-equipped, clean, and functional outdoor cooking area can be a big draw. Ensure grills, burners, and other cooking appliances are in good condition.

Finally, remember that not all outdoor spaces need to be elaborate. Sometimes, simple lawn chairs or a modest patio set can add to the appeal. The key is to make the outdoor space inviting, no matter how small it is.

One last tip: If you plan to list during winter, ensure you have pictures of your outdoor space during good weather, ideally in summer. Those will be a helpful addition to the listing materials.

When you’re shopping for a new home, you’ll likely have a list of "must-haves" that are essential to your ideal living space. However, there are circumstances in which it may be worth compromising on your list of non-negotiables.

Location

While having four bedrooms or a large backyard may be high on your priority list, a desirable location with easy access to schools, work, and amenities could outweigh those specific features. Keep an open mind and consider adjusting your must-haves if it means securing a home in an ideal neighbourhood.

Budget

Sometimes, your dream home may exceed your price range. In such cases, it can be beneficial to explore properties that may lack a few desired features but offer the potential for customization or renovation in the future. This way, you can gradually transform the house into your dream home while staying within your financial means.

Feeling

What if you walk into a home and it just feels right, even though it’s lacking a feature on your must-have list? It might be worth going with that feeling. Keep in mind that what a property is lacking today may be remedied over time with improvements and renovations.