I have sold a property at 501 1025 Inverness RD in VICTORIA.
Top floor, corner unit, with maximum sunlight awaits you from this gorgeous 2 bed 2 bath completely updated stunner. The seller spared no expense knocking down walls, adding a fireplace and redesigning this spacious suite. Some other features include hardwood flooring, open concept design, two updated bathrooms, new kitchen, granite countertops, stainless steel appliances, and wait till you see all the room the sizes. Nothing "Micro" here, you'll love it. This complex is like new inside and boasts a recreation room with billiard table, workshop and exercise room. Steps to the bus and within walking distance to Mayfair Mall and the Uptown Centre. Everything is at your doorstep and the strata fee includes your heat an water so come by and see
 $359,000 
380579
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Please visit our Open House at 641/3/5 Goldstream AVE in VICTORIA.
Open House on Saturday, September 30, 2017 2:00PM - 4:00PM 643 and 645 Goldstream Ave. Open house for 2 of 3 suites (3rd suite on 2nd showing) suites are vacant and offer a great opportunity to small investors as well as extended families on a budget. Freshly painted and ready to move in.
Open House Sat. Sept 30, 204 pm at 643 and 645 Goldstream Ave. Fantastic Opportunity with this Legal Non-conforming Duplex with a detached Cottage (the cottage is non-conforming) on a large (80x147) lot in Central Langford location. Only cabin is rented, duplex sides are vacant as of September 01, 2017 (you can rent at market rates or move right in) New flooring installed in 645, suites are now painted. Roofs replaced 2011, mostly newer windows, great central location. Interested parties might want to investigate development possibility of the site in combination with neighbours. Basement in duplex units are under-used. Age approx.
 $790,000
381757
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I have sold a property at 106 724 Sea TERR in VICTORIA.
Tucked Away yet, super handy Location, Location, location! Super Quiet, Very Central, Situated next to park, tennis courts & Westbay seawalk! Some Seasonal Ocean glimpses from bedrooms. Nothing to do but Move in. Quiet side of the Complex (away from Esquimalt Rd.) Walk to work, DND, or downtown along seawall or take bus from just outside complex. Cycle the New bike lanes and trails, Tasteful newer renovations incl. new kitchen with granite counters, all new flooring and paint, remodeled bathroom, new fixtures etc. BBQ on your private fenced patio with flowerbeds. Spacious well managed complex, Bike, Canoe, and extra storage, parking, good central laundry facilities, and recreation room.
 $367,900 
379053
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I have listed a new property at 641/3/5 Goldstream AVE in VICTORIA.  $795,000
Fantastic Opportunity with this Legal Non-conforming Duplex with a detached Cottage (the cottage is non-conforming) on a large (80x147) lot in Central Langford location. Only cabin is rented, duplex sides are vacant as of September 01, 2017 (you can rent at market rates or move right in) New flooring installed in 645, suites are being painted as they become available Roofs replaced 2011, mostly newer windows, great central location. Interested parties might want to investigate development possibility of the site in combination with neighbours. Basement in duplex units are under-used. Age approx.
 381757
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I have listed a new property at 1210 Greenwood AVE in VICTORIA.  $999,000
1210/1212 Greenwood Ave. Open House Sat. (7/29) 1-4 pm. Sun. (7/30) 2-4 pm. Spacious Legal 2 Family home with a 3rd. suite on a duplex R3 zoned lot located in desirable Sax Pointe area of Esquimalt along a cul-de-sac street. This very spacious (3,897 sqft.) home is perfect for the extended family offering space, comfort, privacy and convenience. Upper floor (#1210) is nearly 2,100 sqft. mostly on one floor, with a spectacular family room and open kitchen design, overlooking a gorgeous fenced backyard. #1212 is 505 sqft. is a bright very comfortable furnished 1 bedroom suite with it's own meter. The newly decorated bright and spacious furnished 1 bdrm. suite is approx. 1,215 sqft. Adding the lovely yard, the privacy, the detached double garage and the close proximity to all amenities, this is truly the home, location and opportunity you have been waiting for.
 381202
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Please visit our Open House at 1210 Greenwood AVE in VICTORIA.
Open House on Saturday, July 29, 2017 1:00PM - 4:00PM Saxe Point Spacious legal 2 Family home along a super quiet cul-de-sac street near all amenities, this is the home, location & opportunity you have been waiting for, you will be glad you this long, & sorry if you wait any longer. See you at 1210 Greenwood
1210/1212 Greenwood Ave. Open House Sat. (7/29) 1-4 pm. Sun. (7/30) 2-4 pm. Spacious Legal 2 Family home with a 3rd. suite on a duplex R3 zoned lot located in desirable Sax Pointe area of Esquimalt along a cul-de-sac street. This very spacious (3,897 sqft.) home is perfect for the extended family offering space, comfort, privacy and convenience. Upper floor (#1210) is nearly 2,100 sqft. mostly on one floor, with a spectacular family room and open kitchen design, overlooking a gorgeous fenced backyard. #1212 is 505 sqft. is a bright very comfortable furnished 1 bedroom suite with it's own meter. The newly decorated bright and spacious furnished 1 bdrm. suite is approx. 1,215 sqft. Adding the lovely yard, the privacy, the detached double garage and the close proximity to all amenities, this is truly the home, location and opportunity you have been waiting for.
 $999,000
381202
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Please visit our Open House at 1210 Greenwood AVE in VICTORIA.
Open House on Sunday, July 30, 2017 2:00PM - 4:00PM Saxe Point Spacious legal 2 Family home along a super quiet cul-de-sac street near all amenities, this is the home, location & opportunity you have been waiting for, you will be glad you this long, & sorry if you wait any longer. See you at 1210 Greenwood
1210/1212 Greenwood Ave. Open House Sat. (7/29) 1-4 pm. Sun. (7/30) 2-4 pm. Spacious Legal 2 Family home with a 3rd. suite on a duplex R3 zoned lot located in desirable Sax Pointe area of Esquimalt along a cul-de-sac street. This very spacious (3,897 sqft.) home is perfect for the extended family offering space, comfort, privacy and convenience. Upper floor (#1210) is nearly 2,100 sqft. mostly on one floor, with a spectacular family room and open kitchen design, overlooking a gorgeous fenced backyard. #1212 is 505 sqft. is a bright very comfortable furnished 1 bedroom suite with it's own meter. The newly decorated bright and spacious furnished 1 bdrm. suite is approx. 1,215 sqft. Adding the lovely yard, the privacy, the detached double garage and the close proximity to all amenities, this is truly the home, location and opportunity you have been waiting for.
 $999,000
381202
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I have listed a new property at 2704 Dundas RD in SHAWNIGAN LAKE.  $429,900
Stroll to the Village at Shawnigan Lake. This affordable home is situated near the end of a quiet, no thru street in a park-like setting. The main floor offers an open concept kitchen, dining and living area, 3 bedrooms including a master suite with walk-in closet and ensuite. Downstairs you will find a large 24x14 Family room with wet bar and fridge, another 4pc bathroom plus an office which could very easily become a 4th bedroom. Great storage or workshop area in the 1 car garage. short walk to the public beach and boat launch. Come up and enjoy the lake. Commute to Vict. in approx. 35 min. or Duncan in 20. Parking for up 6 vehicles.
 381125
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Please visit our Open House at 106 724 Sea TERR in VICTORIA.
Open House on Saturday, June 24, 2017 2:00PM - 4:00PM Tucked Away, yet so central, This Move-In ready 2 bedroom 1 bath 2 level Townhome along in small complex on a parkside street near the West Bay Walkway. Quiet, Private, Convenient and Comfortable, all that at an affordable price, Really, Don't Wait....
Open House Sat. June 24, 2:00 - 4:00 pm.Tucked Away yet, super handy Location, Location, location! Super Quiet, Very Central, Situated next to park, tennis courts & Westbay seawalk! Some Seasonal Ocean glimpses from bedrooms. Nothing to do but Move in. Quiet side of the Complex (away from Esquimalt Rd.) Walk to work, DND, or downtown along seawall or take bus from just outside complex. Cycle the New bike lanes and trails, Tasteful newer renovations incl. new kitchen with granite counters, all new flooring and paint, remodeled bathroom, new fixtures etc. BBQ on your private fenced patio with flowerbeds. Spacious well managed complex, Bike, Canoe, and extra storage, parking, good central laundry facilities, and recreation room.
 $369,000
379053
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I have listed a new property at 106 724 Sea TERR in VICTORIA.  $369,000
Open House Sunday June 11, 2017 from 1:00 pm till 4:00 pm. Location, Location, location! Super Quiet, Very Central, Situated next to park, tennis courts & Westbay seawalk! Some Seasonal Ocean glimpses from bedrooms. Nothing to do but Move in. Quiet side of the Complex (away from Esquimalt Rd.) Walk to work, DND, or downtown along seawall or take bus from just outside complex. Cycle the New bike lanes and trails, Tasteful newer renovations incl. new kitchen with granite counters, all new flooring and paint, remodelled bathroom, new fixtures etc. BBQ on your private fenced patio with flowerbeds. Spacious well managed complex, Bike, Canoe, and extra storage, parking, good central laundry facilities, and recreation room.
 379053
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Please visit our Open House at 106 724 Sea TERR in VICTORIA.
Open House on Sunday, June 11, 2017 1:00PM - 4:00PM Tucked Away, yet so central, This Move-In ready 2 bedroom 1 bath 2 level Townhome along in small complex on a parkside street near the West Bay Walkway. Quiet, Private, Convenient and Comfortable, all that at an affordable price, Really, Don't Wait....
Open House Sunday June 11, 2017 from 1:00 pm till 4:00 pm. Location, Location, location! Super Quiet, Very Central, Situated next to park, tennis courts & Westbay seawalk! Some Seasonal Ocean glimpses from bedrooms. Nothing to do but Move in. Quiet side of the Complex (away from Esquimalt Rd.) Walk to work, DND, or downtown along seawall or take bus from just outside complex. Cycle the New bike lanes and trails, Tasteful newer renovations incl. new kitchen with granite counters, all new flooring and paint, remodelled bathroom, new fixtures etc. BBQ on your private fenced patio with flowerbeds. Spacious well managed complex, Bike, Canoe, and extra storage, parking, good central laundry facilities, and recreation room.
 $369,000
379053
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I have sold a property at 1098 Jasmine AVE in VICTORIA.
Situated on a half acre at the end of the street offering almost 5000 sq ft of living space currently consisting of: main 3 bed 2 bath house with games room down, 2 bed 1 bath suite, separate 2 bed 1 bath cottage all on separate meters from the 400 amp panel. The outdoor covered patios are spectacular, decks wrap around the house at the treetops where eagles & hawks perch. 2 Natural Gas fireplaces as well as gas stove in spacious kitchen. This house has been rewired, re roofed, re insulated, thermal windows. House is in perfect mechanical order. Parking for 9 cars, elbow room all around.One of only a few properties that offer so much potential, don't miss out on this one.
 $1,175,000 
374096
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I have listed a new property at 641/3/5 Goldstream AVE in VICTORIA.  $795,000
Fantastic Opportunity with this Legal Non-conforming Duplex with a detached Cottage (the cottage is non-conforming) on a large (80x147) lot in Central Langford location. Long-Term Tenants, (hence the low rents of $500, 1,000 & 875 p/m). Seller continues to make upgrades. 641 = 1 bedroom, 1 bath cottage, 643= 3 bedroom, 2 bath + Rec room (used as master), 645 = 2 bed, 1 bath. Roofs replaced 2011. Age approx.
 375121
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Will Your Next Move Be YOUR Choice Or Will Circumstance Force You?

An Important Topic of Conversation For Seniors and or Loved Ones.

  • Perspective
    • You deserve to have joy and peace of mind during the senior phase of your life.
    • Unfortunately, personal experience tells us that for too many people, this phase will be filled with stress, emotional turmoil, and often depression, or even anger, at being forced in to a dramatic lifestyle change that they don't want to make, or aren't ready for.
  • When Is the Right Time to Consider Your Lifestyle Options?
    • As we age, we need to consider our best lifestyle and housing options for the future.
    • We tend to postpone making decisions about where and how we will live for as long as possible.
    • For some, a sudden change in health, either their own or that of a loved one, forces a dramatic lifestyle change.
    • Being under pressure or urgency is rarely a good circumstance to make the best long-term decisions. Never mind the limited options that might be available in that moment.
    • Others plan early to explore their lifestyle options, and decide (and act) on the best  direction for their specific  wants  or needs. 
    • In the end it’s a matter of control, will you be in control or will it be someone or something else.
  • Who To Talk To?
    • Speak, consult with those that you know that their motivation is based on love, trust, your objectives, honesty and kind spirit towards you would be our suggestions
    • Starting with your spouse, loved ones, lawyer, accountant, religious advisor and others that have nothing to gain or lose regardless of the outcome of your conversations.
    • Trusted professionals, with high standards, ethics and with full disclosure of what (if any) benefit they receive from their advise.
  • What To Consider In Our Conversations?
    • Health & wellbeing (Physical & Mental).
    • Mobility and agility.
    • Financial and cost of living.
    • Home maintenance & usability.
    • Housing and living arrangements.
    • Amenities, community and services.
    • Happiness, fears, grief, stress.
    • Love, romance and relationships.
    • Legal matters, wills, advanced care plans.
    • Family, friends, loved ones.
    • Fitness, activities (access & participation.
    • Quality of Life.
    • Anything Else that is important to you.
  • Conversation Starters
    • What if………………………………………………………………………………………..?
    • Where is……………………………………………………………………………………..?
    • Who is…………………………………………………………………………………………?
    • How would I………………………………………………………………………………..?
    • We should talk about…………………………………………………………………...
    • You can fill in the blanks.
    • Our suggestion is, please talk and act on & document your decisions.
  • Areas to start the conversation, for example
    • When was the last time (if you have one) you updated your will.
    • Statistics say that 48% of Canadians do not have a will and of those that have one, over 75% are out of date.
    • Do you have a current advanced care plan
    • Fewer than 30 % of people have one, and many that do have not updated it since they created it.
    • The Provincial Government Seniors website is a good resource. (or talk to Peter Pfann)  http://www2.gov.bc.ca/gov/content/family-social-supports/seniors
  • No One Succeeds Alone
    • Do you have truly professional advisors? And if so are they experts in Senior related issues
    • A Lawyer, An Accountant, A Financial Planner, A Medical Professional?
    • A Senior Advisor, and a Real Estate Consultant?
    • The members of your professional “dream team” should be part of your conversations about your future, provided they have your trust and confidence. (if not, it might be time to seek out some upgrades).
  • Let’s Take Real Estate for Example
    • When was the last time you sold real estate?
    • Things have changed significantly over the years, and they continue to do so.
    • Many more housing and support options, financing choices, as well as new forms of collaborative housing and services options.
    • As an expert in Real Estate for Seniors, I'll take the time to make sure you are comfortable and informed, so you can make the best decision for you.
    • Even if that means you decide to stay where you are. As a consultant, my primary  role is to assist you (and anyone else you want involved) in coming to the best decisions for YOU.
  • In Summary
    • We fully understand that the question we started this short report with is one of the most challenging and difficult conversations to have as an aging adult.
    • The choice is ultimately yours to take action now or later. However, we would urge you to begin the dialogue with your loved ones or if you prefer with a trusted professional, sooner rather than later.
    • You will find that, once started, the conversation and solutions will come easier and will very much benefit you and your loved ones.

  • Who is Peter Pfann
    • Licensed REALTOR®, nominee, company owner, educator and small business consultant since 1986.
    • Focused on assisting seniors since 2006.
    • 4 Senior focused certifications (CPCA, Master ASA, SRES & CCREC).
    • Member of The Esquimalt Lions, EFCN, Esquimalt Senior Coalition, & Elder Friendly Committee.

 

 

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7 Questions seniors should ask any real estate agent

Buying or Selling Real Estate is Different for Seniors.

Questions and Tips to ensure that are working with a team of experts.

A little preparation will minimize your stress, prevent mistakes while saving you time and money.

  • 1. What makes you different?        Why should I trust my home (purchase or sale) to you?
    • Not every agent specializes in working with seniors.
    • What you are looking for in an expert,  is a person who can recognize and resolve problems before they affect you.
    • A person with a proven track record, a true professional with years of specialized experience in attending to any and all challenges that affect seniors in their housing needs, concerns and options.
    • If an agent works with seniors only from time to time, they are unlikely to be aware of all the specific senior related options, issues or concerns that may go well beyond buying or selling a home.
  • 2. How many seniors do you regularly work with? How satisfied are these seniors with your service?
    • You are looking for “proof” of true expertise and real customer satisfaction, not just evidence of attending a one day class, with a badge.
    • In addition you want to know that the agent is always active specifically with seniors, yet not too busy to either ignore you or pass you on to one of the “ junior team members”.
  • 3. How long will this process take? I’m nervous.
    • Your agent should explore/consult with you, your needs, your concerns, and any circumstances that are important to you, before suggesting the best way forward for you and  or your family.
    • There should not be any pressure, and you should be in control of the process, your agent/consultant is to offer balanced options and suggestions with your objectives as the agent’s priority.
    • Ask also about what Transition Management Resource the agent has available to your benefit.
  • 4. Will you give me time to have my family and/or lawyer review the paperwork?
    • There should not be any doubt that an agent should give you all the time, space and opportunity to ensure that you (and your loved ones or lawyer) are comfortable with all the important steps in your life.
    • Buying or selling a home is a team effort, your family, lawyer, and or other important people in your live likely will have a lot of to offer you to make any transition better for you.
    • A good agent would seek the opportunity to collaborate with all the members of your “dream team”.
  • 5. What do you know about my options for my future housing needs?
    • Aside from the obvious home buying options, your agent should be aware of and offer information about the many different specialized housing options for seniors.
    • These options should include “age in place” finances, various levels of care, downsizing, home adaptations, rental, leases, co-housing and any potential support available to you as a senior.
  • 6. I don’t know what to do, I’m so overwhelmed with all my “stuff”. How can you help me?
    • Your agent should be an important resource during this often stressful time, offering information or hands on assistance dealing with “your stuff”.
    • Great agents know that there is so much more to buying or selling a home than just the real estate parts.
    • Great agents have build their career in making the big transitions in people’s life easier, smoother and often more rewarding for their clients.
  • 7. What have I not thought of that I should ask you?
    • Again, you are looking for how their response and how you connect and relate to the agent you are considering to looking after possibly a life changing purchase or sale.
    • If you feel/sense that you are interviewing an agent who has his/her own wellbeing as the priority, are you going to be happy and well served?
    • Is the agent committed to you and your objectives? If so, you likely have found the right agent.
  • In summary
    • It is important to recognize that in busy real estate markets anyone with a real estate license can claim to be able to sell your home or assist you with buying.
    • The real difference to you will be the outcome of the purchase or sale.
    • There is much more to buying or selling a home for seniors, the property is just one piece of the puzzle, be sure to seek the assistance of real experts.
  • Who is Peter Pfann
    • Licensed REALTOR®, nominee, company owner, educator and small business consultant since 1986.
    • Focused on assisting seniors since 2006.
    • 4 Senior focused certifications (CPCA, Master ASA, SRES & CCREC).
    • Member of The Esquimalt Lions, EFCN, Esquimalt Senior Coalition, & Elder Friendly Committee.


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I have sold a property at 3400 Maplewood RD in VICTORIA.
3400 Maplewood Rd. You will instantly fall in love with the character and location of this 20's built home and property. Large living room with (decommissioned) fireplace, fir floors and 9-10' ceilings, formal dining room with leaded glass built-ins, wainscoting, and window seat. Spacious kitchen,with back entry and nearly completely developed basement. Nearly ready for the extended family or suite. 2 driveway's. Buyer to verify if Development potential to duplex is possible All this set on a spectacular 9,900 sq. ft. level corner lot, fully fenced and very private with various fruit and ornamental trees! steps from parks, golf, bus, trails, minutes to all other amenities.
 $699,900 
370210
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What is the Mortgage Financing Stress Test?


Effective Oct. 17, 2016 all homebuyers, requiring an insured mortgage (a mortgage with less than 20 or 25% down-payment) for their home purchas

e will have to further be assessed/qualified on a mortgage payment stress test to

 evaluate if a homebuyer would still be able to make the mortgage payments if their mortgage payments increased based on higher interest rates or the homebuyer potentially generated less income.


Until now, Mortgage financing stress tests weren’t required for closed or f

ixed-rate mortgages with a term longer than five years.


In addition to the mortgage stress test, several eligibility rules will tightened on mortgages where borrowers made down payments of at least 20 per cent of the purchase price by Nov. 30, 2016.


The immediate impact for home buyers will result in fewer home buying opportunities for those that only qualify under their current income level.

Home buyers with room to spare in their ability to make higher monthly payments, will have little or no impact at all.


In the (Greater Victoria) real estate market where we already noticed a slight leveling of the market from our earlier very aggressive price and volume increases, the new mortgage rules most likely will offer a new balance to the local market place.


This leveling in the local real estate market will assist homebuyers with a bit more time to review their options in order to make the best home buying decision possible for their next home.

In summary, it would appear that the Mortgage Financing Stress Test may possibly result in some short term pain but will result in a more secure and stable (well qualified) real estate market place.


We would urge aspiring home buyers to connect with the mortgage broker or lender of their choice and confirm their personal financing qualifications.

With the rules changes, some people will notice that the price range of their future home may be impacted by the new mortgage financing stress test.


If you have any questions, please connect with Peter at 250-213-9490 or email us at your convenience. 

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Should I Rent or Should I Buy a Home In Greater Victoria, NOW?

No, this will not be a singing class, just a quick post about a question we get asked fairly frequently.

 

The question if you “Should Rent or Buy a Home In Greater Victoria NOW”, will always be a personal for you to answer. However, if we look strictly at the "numbers" and for the moment forget about the emotional investment in either buying or renting, the answer is actually pretty simple.

  

If you have (or can get assistance with) the buying costs and down-payment, there is little question that Buying a Home in Greater Victoria, NOW is the right thing to do.

 

Here is some information from my (not so scientific) research:

 


I looked up (on Craigslist) currently available single family homes for rent with 2 or more bedrooms and 2 or more bathrooms within 20 km from my own home (Saanich near Uptown). and averaged the rental rates, without spending much time on the features and or extra's within the homes.

 

The average rental rate for single family homes came out too approx. $ 3,000 per month.

In simple mortgage terms that $ 3,000 per month would also pay a 25-year a

mortized mortgage of approx. $ 600,000 and with that I found (as of the writing of this post) 127 single family homes for sale of the same number of bedrooms and bathrooms and within similar distance to my home. Here is a current list of Single Family Home options for sale.

 

I was intrigued and extended my "research" and tried a similar experiment with Condominium suites, here is what I found.

 

I searched Craigslist again for 1+ bedrooms and 1+bathrooms within 20 km of my home (Saanich near Uptown).

 

The average rental rate (which seemed higher than I expected) averaged $2,300 per month.

In simple mortgage terms that $ 2,300 per month would also pay a 25-year amortized mortgage of approx. $ 425,000 and with that I found (as of the writing of this post) 210 Condominium homes for sale of the same number of bedrooms and bathrooms and within similar distance to my home. Here is a current list of Condominium Home options for sale.

 

To be honest with you I was very pleasantly surprised with my findings and wanted to share them with you right away.

 

Given that our average prices have only just started to increase since October 2015, we expect that property values in Greater Victoria will continue to increase for the foreseeable future. Hence you (as a buyer and future home owner) would benefit from the value increase over the length of time you own the property, never mind the mortgage balance reduction during the same time.

 

If you have been thinking about Should I Rent or Should I Buy a Home In Greater Victoria, NOW, I hope this information offers you some perspective?

 

Okay, here is my caution..... Averaging anything always looks better on paper, your specific reality is likely a bit different, as such we encourage you to connect with us before you venture into the market place to deeply.

 

We are here to help and make sure that you get all the right information about your specific situation, before you make life changing decisions.

 

However, many people over many generations, have plunged in to the homeownership pool soon after the Greater Victoria Real Estate Market started to recover and have benefited from the upswing in values for the rest of their respective lives.

 

So, let me ask YOU;

 

Should You Rent or

Should You Buy

a Home In Greater Victoria, NOW?

 

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How to buy a Greater Victoria Home in a crazy busy real estate market.


Greater VictoriaIf you have been in Greater Victoria for a while and have been looking for your new or next home, you will have experienced or heard the super stressful home buying stories.

Multiple offers, sold in minutes, sold way over asking price, sold without subject clauses, what can you do to make the right home buying decisions at this time.

By all accounts, many of you reading this will have your self or at least know of someone who lost out on a great home, suite or property, you got outbid, or maybe didn’t act fast enough.

It is like an emotional roller coaster with way too many fast changes in direction

When the Greater Victoria Real Estate market is this active, are there ways that will dramatically improve the odds for you to not only find but be able to buy the home you want?

We have collected some tips here for you:


The Basics and Preliminaries about Home Buying in any market.


  • Get pre-approved for your financing

This is really the first and likely most important step. Knowing your safe budget range is essential so it’s very important to get pre-approved and arrange your finances ahead of time.

Pre-arranging financing should include, securing your down-payment, (including gift letters and RRSP withdrawals if applicable), buying expenses, odds and ends and an emergency slush fund.

Talk to banks or a mortgage broker and work with them to fully understand all the various details and particulars, your payments and how much you can afford.

There are new rules for financing, so even if you recently were pre-approved, make sure your information is current and accurate. Check: CMHC also check if you are eligible for a first time home buyer exemption.


Yes, I am biased on both fronts, about using a REALTOR® and to use our Pfanntastic Real Estate Services.

Peter Pfann, Pfanntastic Victoria Properties Since 1986.Here are the reasons why we are biased. Like most of the important decisions in life, buying a home is a “team effort”.

As such, it is very important that you are supported by the best possible team you can afford to ensure the best possible outcome.

REALTORs® have typically access to all the available properties, however the best agents also have the experience, resolve, persistence and resources to truly add value and direct measurable benefits to your home buying experience. (getting you the best home, negotiate a better deal, and do so problem free).


Some agents are too busy to deal with first time buyers and delegate them to less experienced agents. When the markets are very fast or very slow, newer
agents just have not been around long enough to fully understand what might be needed to successfully assist you with buying your new or next home. New homes or resale homes, either way, working with multiple offers and digital negotiations are not as simple as people think.

What type of agent would you want working on your behalf?

The best agents have the relationships and ability to navigate the rapid market place and secure your next home.


  • Be prepared to act quickly

Having all your ducks line up and for you and all those involved in the purchase. For all to be as informed as possible, to agree on the type of home, the location, the essentials of the home and amenities will prove to be a huge time safer.


Having all your other team members ready and on short notice will save time, money and disappointment.


We mean, people like; a good home inspector, a contractor (if you are buying a fixer upper), insurance agent, and possibly a lawyer/notary.


As you to will have (almost daily) communication with your REALTOR® , selecting an agent you like and trust, will pay benefits on a daily base.


You will also likely do a fair bit of “Homework”, in the beginning of your “home hunting” adventures. Just so that you become familiar with the market place, so that you will recognize the right home option/package when you see it.


In a crazy busy Victoria Real Estate market as we are currently experiencing, there is no time to waste. When you are prepared and ready, you can act quickly and confidently present a strong offer.

We don’t want to lose a great home just because we were not ready or simply because we could not act fast enough.


  • Making an offer on a home general tips

Many may have heard that you never make your best offer first, however in the crazy busy Victoria Real Estate market of 2016, it is pretty rare that you are the only interested party in what you are considering as your next home.


Counter-offers are actually rare during this type of market, so your first offer to a seller, likely needs to be your best effort.

The key areas to consider in your offer:

  • Price and deposit
  • What is and what is not included in the sale?
  • When do you want or need to move in?
  • What Subject To Clause(s) (if any) do you want or need?


  • Presale or New Construction Home Buying Tips

The key to presale in an active market is to have your REALTOR® register your interest in the development as soon as possible (Be sure that your REALTOR® is registered, otherwise you will not have an agent working on your behalf and protect you from possible issues).


The sale teams of new developments work for the developer (not you) so letting them know that you’re serious about buying, with your agent is important.

Even in pre-sales and new construction homes multiple offer are now relatively common, so presenting a clean offer (with or without conditions) does not always secure the property. Hence to know exactly what options, features alternatives and other configurations that you might consider can help you secure your next home


 

  • Resale Home Buying Tips

Given the current market conditions, you might want to expect that you likely have to compete with multiple offers.

Although this will feel like more stress than you want or need, it will require you to put your best offer on paper the right from the start of the negotiations.

With your mortgage pre-approved, and your deposit secured you should know exactly the highest amount you are able to pay.

The very best offers are also very clean and likely subject-free.

  • With your mortgage pre-approved you should not need a financing subject.
  • Inspections; and to remove the inspection subject, consider bringing your home inspector with you to the showing or at an open house.
  • Being flexible with the dates also gives you an distinct advantage. Making it easy for the sellers to select when they can move out might be enough to tip the scales in favour of your offer.

Our 30 some years in and around real estate has shown us that good communication, preparation, perseverance and just the right amount of patience can make your next home buying experience much more rewarding than trying to take short cuts or trying to ride this roller-coaster by yourself.


It would be our pleasure to discuss your needs and concerns about your home buying objectives at your convenience. Peter Pfann will always treat you with respect and in full confidence.

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I have sold a property at 3088 Alouette DR in VICTORIA.
Why RENT when you can BUY this BRIGHT easy care 2009 Strata Duplex with 5% down, O.A.C. YOU will find amazing VALUE here in this 3 bed 3 bath 1/2 DUPLEX with only 1 common wall, single attached garage + 2 parking stalls, located in the popular Westhills. Situated on a corner lot with each unit facing a different street. Open floor plan, kitchen w/ stainless appliances, granite counter on bar, fireplace in LR, 2 piece powder room, quality laminate floors on main level, new carpets on stairs & upper level. Side yard fenced, could be used to extend parking. Close to walking trails, Glen & Langford Lake,City Centre Park,shopping & transit.
 $379,900 
361407
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