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I have sold a property at 957 Tayberry TERR in VICTORIA.
This is a show home built by a great builder who cares. Take a look inside and you will appreciate the quality of thick Quartz counter tops with under mount sinks, gorgeous tiled entrance with stained wood railing with metal spindles, pot lights, top of the line kitchen, dining room and bathroom cabinets, beautiful electric fireplace and a glass garage door! Stainless Fridge, Stove, Dishwasher, Microwave. Washer & Dryer included too! You will love it!
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I have sold a property at 1585 Bonita PL in VICTORIA.
Beautifully renovated Gordon Head family home on a large private 12,305 foot fenced lot at the end of a cul-de-sac. Easy in-law suite conversion. Upgrades include: new thermopane vinyl windows, new exterior doors, new hardy plank concrete siding, new interlocking brick driveway, new double garage, new decks, newly fenced and landscaped fenced yard, new garden shed, new sprinkler system, and newer kitchen. Other features include vaulted ceilings, hardwood floors, gas fireplace and a location that's only minutes from Mt. Douglas Park with beach access!
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If you are planning on buying a new home over the next two years, then you need to know about the 2% BC Transition Tax.

It is a new tax that comes into effect on April 1, 2013. It will apply to the sale of new residential homes that are 10% or more complete as of April 1, 2013. The 2% BC Transition Tax will end on March 31, 2015.

 

BC Transition Tax

Source: BCREA PST TransitionRules website:

www.bcrea.bc.ca/government-relations/pst-transition-rules

 

The 2% BC Transition Tax applies to the full price of a new home, which is 10% or more complete, where ownership or possession is on or after April 1, 2013, but before April 1, 2015. The 5% GST also applies to the full price of a new home, where ownership or possession is on or after April 1, 2013.

 

With the end of the HST and the return to the PST/GST system, the BC government chose to introduce the 2% BC Transition Tax as a way, in their words, “to ensure the equitable application of tax for purchasers of new residential homes currently under the HST system” and after April 1, 2013 when the province returns to GST on new residential homes. The government also wishes to replace some of the revenue lost through the return to the PST.

 

BC’s portion of the HST will no longer apply to newly built homes where construction begins on or after April 1, 2013. Builders will once again pay 7% PST on their building materials (construction inputs). The provincial government asserts that on average, about 2% of the home’s final price is embedded PST that builders pay on their building materials.

 

BC Transition Tax2

 

For newly built homes where construction begins before April 1, 2013, but ownership and possession transfer afterwards, purchasers will not pay the 7% provincial portion of the HST. Instead, purchasers will pay 5% GST and the 2% Transition Tax on the full house price. The Transition Tax rebate for builders (sellers) recognizes that the builder will not be able to claim input tax credits on the PST paid on building materials acquired after March 31, 2013. The rebate is available where both of the following conditions are met:

 

  • The 2% BC Transition Tax applies to the sale of new housing; and
  • Construction or substantial renovation is at least 10%, but not more than 90%, complete before April 1, 2013.
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Please visit our Open House at 205 1519 Hillside AVE in VICTORIA.
Open House on Sunday, March 24, 2013 13:00 - 15:00
This a large and bright 1,120 square foot condo on the 2nd floor on the quiet back part of the building. Features: 2 bathrooms, 2 decks, gas fireplace, new carpet, new tiled entry, new flooring in bathrooms and laundry, separate full height storage locker, and an underground secured parking spot. The building was remediated in 2002 and has always been properly maintained with a great strata council and Proline Property Management. The location is close to the now being renovated Hillside Mall, Camosun College, University of Victoria, and a short drive to downtown. Great Building, Great Value!
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Please visit our Open House at 205 1519 Hillside AVE in VICTORIA.
Open House on Saturday, March 23, 2013 13:00 - 15:00
This a large and bright 1,120 square foot condo on the 2nd floor on the quiet back part of the building. Features: 2 bathrooms, 2 decks, gas fireplace, new carpet, new tiled entry, new flooring in bathrooms and laundry, separate full height storage locker, and an underground secured parking spot. The building was remediated in 2002 and has always been properly maintained with a great strata council and Proline Property Management. The location is close to the now being renovated Hillside Mall, Camosun College, University of Victoria, and a short drive to downtown. Great Building, Great Value!
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Please visit our Open House at 205 1519 Hillside AVE in VICTORIA.
Open House on Sunday, March 17, 2013 13:00 - 15:00
This a large and bright 1,120 square foot condo on the 2nd floor on the quiet back part of the building. Features: 2 bathrooms, 2 decks, gas fireplace, new carpet, new tiled entry, new flooring in bathrooms and laundry, separate full height storage locker, and an underground secured parking spot. The building was remediated in 2002 and has always been properly maintained with a great strata council and Proline Property Management. The location is close to the now being renovated Hillside Mall, Camosun College, University of Victoria, and a short drive to downtown. Great Building, Great Value!
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Please visit our Open House at 107 1519 Hillside AVE in VICTORIA.
Open House on Sunday, March 17, 2013 13:00 - 15:00
Great value in this 2 bedroom, 2 bathroom 900 square foot condo situated on a quiet side of the building with western exposure. Features: Gas fireplace, patio, separate full height storage locker, and an underground secured parking spot. The building was remediated in 2002 and has always been properly maintained with a great strata council and Proline Property Management. The location is close to the now being renovated Hillside Mall, Camosun College, University of Victoria, and a short drive to downtown.
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Please visit our Open House at 205 1519 Hillside AVE in VICTORIA.
Open House on Saturday, March 16, 2013 13:00 - 15:00
This a large and bright 1,120 square foot condo on the 2nd floor on the quiet back part of the building. Features: 2 bathrooms, 2 decks, gas fireplace, new carpet, new tiled entry, new flooring in bathrooms and laundry, separate full height storage locker, and an underground secured parking spot. The building was remediated in 2002 and has always been properly maintained with a great strata council and Proline Property Management. The location is close to the now being renovated Hillside Mall, Camosun College, University of Victoria, and a short drive to downtown. Great Building, Great Value!
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Please visit our Open House at 107 1519 Hillside AVE in VICTORIA.
Open House on Saturday, March 16, 2013 13:00 - 15:00
Great value in this 2 bedroom, 2 bathroom 900 square foot condo situated on a quiet side of the building with western exposure. Features: Gas fireplace, patio, separate full height storage locker, and an underground secured parking spot. The building was remediated in 2002 and has always been properly maintained with a great strata council and Proline Property Management. The location is close to the now being renovated Hillside Mall, Camosun College, University of Victoria, and a short drive to downtown.
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Please visit our Open House at 957 Tayberry TERR in VICTORIA.
Open House on Sunday, March 3, 2013 14:00 - 16:00
OPEN HOUSE SUNDAY 2-4. This is a show home built by a great builder who cares. Take a look inside and you will appreciate the quality of thick Quartz counter tops with under mount sinks, gorgeous tiled entrance with stained wood railing with metal spindles, pot lights, top of the line kitchen, dining room and bathroom cabinets, beautiful electric fireplace and a glass garage door! Stainless Fridge, Stove, Dishwasher, Microwave. Washer & Dryer included too! You will love it!
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March 1, 2013

 

VICTORIA BC - The Victoria Real Estate Board reports a total of 394 sales were processed through the Multiple Listing Service (MLS®) in February, an increase of 34% over the previous month. The highest activity was in single-family homes and condominiums.

 

Compared to February 2012, sales were down by 18.26%. Shelley Mann, President of the Board, says it's more important to look at monthly trends and compare monthly buying behaviour year-over-year. "The trend lines for November, December and January are the same for the last three years.

 

"We've seen a slow increase in sales activity over the last three months and we still hold to our forecast of a modest 2-4% sales increase in 2013," Mann says.

 

"The typical spring market is perking up. I spoke to 10 REALTORS® yesterday and nine said they are experiencing definite increases in their activity over the last two months and have a positive outlook. Many buyers are still waiting for prices to drop, but it's clear to me that sellers are in a holding pattern regarding the value of their homes," Mann says. "However, if a house is priced properly, within the market value range, it will likely sell more quickly."

 

The median price of a single family home is $505,500 compared to $530,250 in February 2012, a decrease of 4.67%. The six-month average shows an increase of less than one percent year-over-year, and a less than one percent decrease over last month. "In other words, no change," Mann adds.

 

There were 112 condominium sales in February, a 38.27% increase over January 2013. While the median price of $270,500 for condominiums is down 2.08% year-over-year, it increased 13.49% over January 2013. Townhouses saw increased sales in the past month with a median price of $337,500, which is down by 11.65% year-over-year and 10.82% since January 2013. Current active listings at the end of February were 4,072.

 

Total Waterfront Single Family Dwellings sold: 12, up 5 over February 2012
Total Non-waterfront Single Family Dwellings sold: 203, down 55 sales from February 2012
Single Family Dwellings sold over $1 million: 11 (3 over $2 million)

 

Graphical representation of recent sale counts and average prices

Tablular representation of sales statistics from the last two months and from last year

Total Single Family All Areas includes Shawnigan Lake/Malahat, Gulf Islands and Up Island

 

Summary Report and Graphs

Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

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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.