Gorge Fest 2012
Mar 26th
Check out this fantastic event http://bit.ly/GVjRqJ that all your local RE/MAX agents in Victoria will be helping to sponsor and promote! Want to get involved? Contact me and I’ll help you to sign up yourself or your team.
I’m your Realtor in Victoria, BC, Fergus Kyne with RE/MAX Alliance Victoria 250 216 1217.
Luxury Waterfront in Victoria, BC
Mar 23rd
Last week I listed this gorgeous home at 369 King George Terrace in South Oak Bay for $2,599,000. It offers magnificent comfort and luxury, is extremely well built and the south east vista over the water from the back of the house is stunning, always changing and always remarkable in terms of watching the constant changing of the conditions; you’ll see whales, eagles, all manner of bird life, kayakers, freight ships, sail boats, it’s a magical place. This is the view from the back yard and the patio that’s being built right on the edge of the ocean front.
For more pictures and a virtual tour, you can click on Featured Properties on the right hand side of the home page of this blog or refer www.ViewTheHome.ca to someone you know who may be interested.
In this very short video I speak about land value being established. The lot next door, 363 King George Terrace, sold for 1.3M in 2009 and the plans for the construction of that home and its landscaping are available to view at the Village of Oak Bay. It will be a marvelous home that is perfectly designed to accomodate the established privacy of our listing at 369 King George Terrace, which incidently is a superior lot as it affords greater depth towards the oceanfront. Last week, a few houses down along the water front, 205 Beach sold for $1,485,000. This house of 2800 s.f. approx. is old and definately in need of upgrades.
However the lot is spectacular and the views are quite amazing too. Time will tell, this may be a teardown for the new owners.
In August of 2010, a buyer paid $1,580,000 for 383 King George Terrace. This home has undergone signifigant changes by the new owners. The unique custom design served the previous owners but in 2010 found itself to be almost non-functional to most new prospects. It too, of course was on a beautiful lot.
So if you consider what it would cost to construct a very high quality home of almost 4900 s.f. with a triple car garage, the asking price of $2,599,000 for 369 King George Terrace is very reasonable. Contact me to arrange a tour. I’m your Realtor in Victoria, BC- Fergus Kyne with RE/MAX Alliance, 250 216 1217 or page me at 250 386 8875.
They’ll pay YOU to help with your home renovations…
Feb 24th
You may have seen the Habitat for Humanity truck around town and on it, our RE/MAX balloon. Your Victoria area realtors are proud supporters of all that Habitat for Humanity does locally and ALL the Victoria Real Estate Board members have helped contribute to the latest project, the Ker Avenue Duplex, which will have its Home Dedication ceremony at 2:30pm next Thursday, March 1st, at the site itself. A great day for everyone involved!
What you may not know about HFH is that they have this amazing store in Langford at 849 Orono Ave, just off Jacklin Road called RE-Store where they sell all kinds of reclaimed building materials. If you are doing a reno, you really should check it out, especially if you are looking to save massive amounts of money compared to what it costs brand new. They have everything from doors to windows, tools, entire kitchens, cupboards, flooring of all kinds, plumbing supplies, baths, showers. It’s a gold mine for your suite reno’s or for those on a budget.
But here’s the best thing! Let’s say you are doing a reno, if you call them at 250 480 7688 or email at: info@habitatvictoria.com , they can arrange to have people come to your house, take out (gently) what ever it is you are getting rid of and they will give you a tax credit for the value of your contribution- that’s pretty amazing don’t you think?
Call me if you have any questions about what’s happening in Victoria real estate.
I’m your Realtor in Victoria, BC Fergus Kyne from RE/MAX Alliance Victoria
250 216 1217
Open House this Saturday, March 3rd from 1pm-2pm.
Feb 20th
Ok, so just listed this, nothing to do but (ViewTheHome.ca and) move in, 3 bedrooms, brand new roof, super Cedar Hill location, gorgeous lot and the price is 439 900! Coved ceilings, absolutely a cream puff in terms of condition as well. Must be seen, Realtors open Wednesday 1:30-3:00 but call me if you want to see it at that time, you will love this house. More pics and floor plans tomorrow evening as well as an MLS#. Call me, call your Realtor, you’ll want to see this one. Perfect for downsizing or small families. 3205 Doncaster Drive, 2 minutes from the Rec Center and the golf course.
I’m your Realtor in Victoria, BC
Fergus Kyne
RE/MAX Alliance
250 216 1217
HST Threshold being raised to $850,000 effective April 1, 2012
Feb 17th
The Honourable Kevin Falcon, Minister of Finance, held a press conference today in Victoria to announce transition rules for the harmonized sales tax and the affect it will have on the home building industry. Effective April 1, 2012, the threshold for new housing rebates will be increased from $525,000 to $850,000. Furthermore, this rebate will not be available for secondary homes (outside the Metro Vancouver and Capital Regional District).
The Victoria Real Estate Board was present for a pre-briefing with Minister Kevin Falcon, along with other key stakeholders from BC’s housing sector in the province.
We are being told that if any of our clients are considering amending existing agreements as a result of this announcement, they should seek legal advice before doing so.
BCREA is working with legal and tax experts to prepare draft contract language that REALTORS® can include in their listing agreements and Contracts of Purchase and Sale, as well as a series frequently asked questions. This material is expected to be available the week of February 20, and will be posted on the BCREA website as a resource for both REALTORS® and their clients.
Read the whole govenrment announcment here: http://www.newsroom.gov.bc.ca/2012/02/transition-measures-support-new-home-buyers-builders.html
Some of the key elements include:
- The B.C. new housing rebate threshold will be increased to $850,000, effective April 1, 2012 with a maximum rebate of $42,500.
- A provincial grant of up to $ 42,500 will be available for purchasers of new secondary vacation or recreational homes outside the Greater Vancouver and Capital regional districts priced up to $850,000, effective April 1, 2012.
- For newly built homes where construction begins before April 1, 2013, but ownership and possession occur after, purchasers will not pay the seven per cent provincial portion of the HST. Instead, purchasers will pay a temporary, transitional provincial tax of two per cent on the full house price.
- The temporary housing transition measures will be in place for two years, until March 31, 2015. The tax only applies to homes where construction begins before the transition date and ownership and possession occur after.
The BC Ministry of Finance has updated their PST in BC website: http://www.pstinbc.ca/buying_goods/buying_a_home
The Canadian Ministry of Finance has also released its transitional rules, with examples related to the sale of real property. The rules note:
- In the case of a sale of real property, tax generally becomes payable on the earlier of the day on which ownership is transferred to the recipient and the day on which possession of the property is transferred to the recipient under the agreement of purchase and sale. However, where the property supplied is a residential condominium unit in a condominium complex which has not, at the time possession is transferred, been registered as a condominium, tax is not payable until ownership of the unit is transferred or, if earlier, 60 days following the date of registration.
There are several examples listed in the rules, which can be found here: http://www.fin.gc.ca/n12/data/12-017_1-eng.asp
This is big news! Call me if you’d like to discuss or want to be in touch with professional who can give you a legal or accounting perspective.
I’m your Realtor in Victoria, BC
226 s.f., not the closet, or the bathroom- the WHOLE apartment
Feb 12th
What are your thoughts on this? Could Victoria find the space and the willingness among developers and also amongst our elected officials to create something like this? Lord knows, people would snap them up. Now these little places are of course rentals in Gas Town but I’m thinking that the same market exists here. Check out the link to this article; http://bit.ly/z10Wuc
This article also shows you diagrams of how the furnished spaces are best lived in. My opinion, small yes, but hey they are new and they are clean. Let me know your thoughts!
2012 Property Assessments sent out this week
Jan 5th
Welcome to my blog for 2012! Of course I had to speak to our good friend Reuben Danakody of BC Assessment to see how the past year shaped up from the perspective of property values here in the Capital Region. Quite interesting to see what happened on average to values. The key question to remember is, do you think your Assessment is a good indication of what your property would have sold for in July of 2011? If you think it’s way higher or lower than the value you saw, you may want to appeal and we speak about how that is done as well.
Call me if you would like any help in navigating or understanding the process or if you simply want to see how your property value compares to the rest of the market.
Fergus Kyne RE/MAX Alliance Victoria, BC 250 216 1217










