Vida Glaser B.Sc.

Knowledge, Experience, Dedicated Service


Do you know of someone who has wished to live in a tiny home? The idyllic setting on a forested piece of land near a creek?

What a romantic idea! Unfortunately, just as in some romances, you might end up heart broken….

Why aren’t there more year round liveable tiny homes in the area?

The answer isn’t simple.

Some questions to consider:

Is the tiny home on wheels, is it a recreational vehicle or is it a building?

If it is on wheels, then it might be a recreational vehicle - like an RV?

If it is not on wheels then it might be a building?

If it is a building meant to be used as a dwelling, does it have CSA approval? If not, then it requires a building permit and land suitable for a permit for this type of home. It must also have the needed infrastructure for water, sewage disposal, power hook ups and a substructure or foundation.

This is where the romance might result in heart break:

From Cowichan Valley Regional District: A tiny home (on a chassis with wheels) “may be used for intermittent camping at an approved camp site, but it is not designed for permanent human habitation. Placing this structure on your land for the purpose of using it as a year-round dwelling will be a violation of your local Zoning Bylaw and the BC Building Code”. In North Cowichan Municipality - a “factory built” tiny home must follow “regulation being the BC Building Code” and have manufactured home CSA approval. 

Where can you find the piece of forested land near a creek?

Ask your real estate professional to look for freehold land.  Always check with local municipal planners to see if your type of tiny home would be permitted for year round or seasonal use on the land. Minimum dwelling size requirement and distance watercourse setbacks may apply.

If other dwellings exist, zoning suitable for a secondary dwelling unit would be necessary.  Consider that your “tiny home” would need to meet manufactured home standards requiring CSA approval. (CSA Z240 MH or CSA A277) or would require a building permit and must meet BC building code.  The land would also need to have an ample water source and approved sewage disposal. 

Consult a trusted real estate professional and check with local municipality zoning bylaws, before you commit to your tiny home romance. To find that perfect home or for more information on the subject, contact Vida Glaser,


What is Happening in the Real Estate Market December 2022
 Vancouver Island residents have seen many changes in the real estate market the last two years. Influences were the Covid-19 Pandemic, low interest rates and low housing supply that caused rapid home sales and fuelled price increases, until the summer of 2022.  The markets have now, have softened and recovered to pre-pandemic levels of sales.  This is partly due to Bank of Canada interest rate increases, which were intended to flatten home prices and decrease the rate of inflation across Canada.

What does this mean for current and forecasted home sales on Vancouver Island?

The real estate market has changed on Vancouver Island  and currently favours buyers. With change there is opportunity!  Rising interest rates will cause some buyers to sit on the sidelines and wait.  While other well prepared buyers may find great opportunities with the current higher inventory of homes and motivated sellers. 

If you are thinking of buying a home, it is a good idea to be financially well prepared to be ready to take advantage of buying opportunities.  There may be one or more interest rate increases in the next year, so consult with your mortgage professional first. 

If you are thinking of selling your home and have time on your side, speak to your realtor about how to to prepare your home for sale and be ready for an early spring surge of sales and eager buyers.  At the slightest indication of interest rates stabilization, buyers, who are waiting on the side lines will come back to the market in early spring 2023. At that time there may be pent-up demand for homes that will favour sellers. If you are considering selling your home, call me or talk to your Realtor about the best timing that favours your situation.  

I would be happy to advise you on the best strategy for your purchase or sale. In the meantime, enjoy your home this holiday season.


Is Now a Good Time to Buy or Sell a Home?

HGTV shows talk about loving or leaving it.  These shows are entertaining, but not reality when it comes to today’s building budgets and housing prices in Canada.

 RBC Economics: 2022 Canada Real Estate Market Forecast:

“Plenty of unmet demand remains and will continue to fuel tremendous activity across the country. Still, we expect the Bank of Canada’s rate lift off to turn down the market’s heat in 2022 as deteriorating affordability sends buyers to the sidelines.”…..“Home prices will keep climbing, though at a slower pace.  Most of that increase in supply and cooling off the market will take place in the second half of this year. “

British Columbia's Real Estate Association, Feb. 2, 2022, Chief Economist:

“The BC housing market is entering 2022 with the lowest level of active listings on record and significant demand-side momentum. That means strong sales should persist through the first few months of the year and supply will remain severely limited. As a result, continued upward pressure on home prices is expected in all markets.”

These two sources agree that the first part of the year will experience the same type of buying frenzy as last year until increased interest rates may slow things down.

CPABC March 9, 2022 Vancouver Island Housing Starts: “The largest increase was for attached units, such as condos, townhomes, and apartments.”

Much of the increase in new construction and home inventory that we see on Vancouver Island, is condominiums, not single family homes.

My opinion; should I sell my home now or wait for market changes? If you are Seller and particularly a down-sizer, now is a good time to sell your single family home.  If you are planning on buying, moving to a larger home and can qualify for a new mortgage - buy now, as housing prices will continue to increase until at least 2023. Next year may have more favourable conditions to buy, but no one can really predict.  If you are waiting to buy when housing prices decrease, you may be waiting for years or forever.  There is no indication that prices will go down in the near future with low inventory on Vancouver Island, in general and also considering global migration.  More people will move to Canada and BC.  Hang onto real estate investments or buy into the real estate market.  

If you would like more information, please contact Vida Glaser, an experienced REALTOR living in the Cowichan Valley, helping people buy and sell homes in Victoria and on Vancouver Island.


Canada has committed to reach net zero greenhouse gas emissions by 2050, and we have many ways to get there. As concerned individuals, we often ask ourselves, , “What lifestyle changes can we make that reflect these goals?”

Why not make a New Years resolution to create a plan that will help you stay on track, on your path to Net Zero Living?
Plan the changes.   Keep an energy use diary.  Monitor current energy consumption in order to create a baseline so that you can compare to see the differences you have made from 2022 to 2023.  Here are some easy steps to get you started:
  1. Create a diary where you note your current energy consumption of fossil fuels for home heating and auto, so that you can compare to future use.
  2. Plan to travel less.  Combine trips for errands, so you go less often and shop local!  Have a local staycation instead of a trip that burns airplane or auto fossil fuels.
  3. Planning on building a new home or renovating? New vehicle? - Canada’s target is zero new vehicle emissions by 2035.  Add an EV charger in your garage or driveway.  Even if you drive a gasoline or diesel powered vehicle , your EV friends or family will appreciate the plug-in when they visit.
  4. Upgrade your heating system. Do you have electric baseboard heaters or an old, gas furnace or a woodstove?  Use power-smart rebates and add an energy efficient electric heat pump. 
  5. Is there a future possibility of working from home? Create a permanent home office space now. If you are moving or renovating, plan to locate your home office in the corner of your large living room, master bedroom or spare bedroom. Double up small children, just like past generations did  to free up a room. Ask your electrician to add in cable or ethernet hook ups or extra electrical plug-ins while you are getting your EV charger  or heat pump installed.
  6. Re-Roofing? Consider adding solar panels to your roof after you have done your new roof installation.  You will be amazed how low your electric bills will become. You may even produce extra power to sell back to the grid and contribute to your neighbourhood electricity CO2 reduction. 
  7. Decrease the CO2 production from your food choices. Source local: markets, produce,, dairy, beer , wine? We certainly have all those in the Cowichan Valley.  Just think of the trucks that you save from having to transport your food from the far reaches of Canada or the US, or worse, South America?  Did you really need those peaches from Peru or tomatoes from Mexico?
  8. Source Local services: Drive less.  We have it all in the Cowichan Valley.  Hair Salons, Dentists, Banks, Doctors, Accountants to list a few.  Check out your local neighbourhood Chamber of Commerce business list and community Facebook groups.
  9. Increase your garden size.  Plan to grow more of your own vegetables and fruit.  Our grandparents grew and canned their own fruit and vegetables.  You can too.  Pickled carrots in mid winder, canned beets for soups and salads, a large crop of frozen green beans can get you through half the winter. Jam from your own strawberries or Jam from France that came on ships and trucks to arrive in your kitchen.  Which would you choose?
  10. Plan neighbourhood gardens or plan to share produce with your friends or family.  Share what you grow rather than growing all your own individual varieties.
  11. Thinking of buying a new home? Consider that you can help reduce urban sprawl and create a home for those who are not able to purchase, by buying a home that has potential to have a rental suite or carriage house on the lot for legal secondary accommodation.  Housing will become more important in the future as climates and cities  are affected, migration will increase .
  12. Recycle less and reuse more.  Recycling requires trucks to pick up and powered machinery to sort and transfer recyclables.  Its amazing what you can store in reusable glass jars. Containers Everything from Ground Coffee to metal screws and fruit smoothies. Choose products without packaging from your local market in your reusable containers or baskets.
-Vida Glaser is a REALTOR on Vancouver Island

It seems to be a well known trend on Vancouver Island, but if you haven't been following the market, here is some news about the early spring real estate market in the Victoria area and on Vancouver Island in general.

Blossoms are poking out in many places.  This usually signifies a tapering off of rain and the start of the warmer, spring real estate season.

 In the words of Victoria Real Estate Board President David Langlois; “Our bustling market continues to be fuelled by strong consumer demand to own a home in the Greater Victoria. This is driven in part by low interest rates and by the overall desirability of our larger community. 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."

Prices are pressured upward, with low supply in the early, spring months.  If you are looking for a good and safe investment, Vancouver Island properties are a good bet.  Buy now into the market and see your investment increase in value over the busier (the) summer months. Last month alone, a single family home in the Victoria area  increased by 1.8%.  Single family homes in the Victoria area and the Peninsula have increased from 8.3%- 15.5% in one year.

If you need a professional REALTOR to help you or your clients get into the ever increasing Victoria or Vancouver Island real estate market, Contact me.

Vida Glaser REALTOR


New property listed in SW Gorge, Victoria
I have listed a new property at 208 2900 Orillia ST in Victoria.
Large one bedroom south facing condominium. Convenient access to downtown Victoria, steps from Gorge Waterway and Gorge Park pathways. A Quiet well-managed and well-maintained building. New bathroom, kitchen upgrades including new counter tops, ceramic tile flooring, new dishwasher, lighting, paint and new laminate flooring through out. The spacious bedroom can double as a home office. Enjoy morning and midday sun on your balcony. Cozy up with efficient natural gas fireplace heating in addition to electric heat. Gas is included in the strata fee. Save money on low heating bills. PETS ARE WELCOME! In suite storage space and one covered parking space included, extra parking may be rented. Near 2 bus routes to UVic. This beautiful home is MOVE IN READY.

Firstly, I hope this news letter reaches you well and healthy.

Many homeowners and investors are looking for predictions in the real estate market on Vancouver Island.  As no one would ever predict that COVID-19  pandemic were to transform the world health and economy, 6 months prior, a prediction in real estate would not be prudent. However there are historical comparisons and indicators of where the market may go, please keep in mind that the Real Estate industry’s direction is a moving target.

What the facts are ( It's not all good news) :

  • The S&P/TSX Composite Index capped off the first quarter down 21.59 per cent”

    • Energy ( Stocks) : -38.2 per cent"- BNN Bloomberg April 1 2020 

  • "OTTAWA — Canada lost a record-breaking 1 million jobs in March while the unemployment rate soared to 7.8 per cent, official data showed on Thursday” Financial Post April 9 2020

  • "Evidence suggests housing activity will continue to improve into 2020, with prices either continuing to rise or accelerating in many parts of Canada. Indeed, many housing market indicators continue to support this outlook. " CREA Dec 2019 forecast

  • "Mortgage interest rates have declined, including the Bank of Canada’s benchmark five-year rate used by Canada’s largest banks to qualify applicants under the B-20 mortgage stress-test. Though the decline in the benchmark rate has been modest, it is helping to improve homebuyer access to home purchase financing.”CREA Dec 2019 forcast.

The Positive News for Real Estate in B.C.: 

  1. Currently, homes are holding their value. The real estate markets did not see the plummet in prices that stock markets saw in March. 

  2. People will need to move. There is  a need for homes and supply of Real Estate.

  3. 2020 started with low inventory.  Prior to COVID reality there was upward pressure of the need for housing inventory. Buyers are waiting in the wings.  There is a good likelihood that Vancouver Island will see another wave of buyers from Alberta seeking retirement or a change in life-style homes.

  4. Forecasts suggest upward pricing within the year and maybe as early as summer months.

  5. Mortgage rates are apppealing, making home ownership possible for new home buyers.

In summary, it is a good time to talk to me about selling your home.  Based on low inventory and low activity levels, I believe  there will be a surge in the Real Estate market activity when health and social-distancing restrictions are lifted.  Both for investors who have pulled out of stock markets and people downsizing or a need to liquidate their Real Estate assets will need to move to a more affordable home.

Real Estate services are essential services in BC. I offer all the required COVID safeguards to keep you and your home safe.  The Real Estate Trade is running, albeit adapted, almost the same as before.

We are fortunate to live in such a beautiful community full of natural beauty with a variety of homes.  Someone will want to purchase your home.

Be ready for the market to gain momentum soon, when social distiancing rules are modified.  If you are considering selling or buying now is a good time to talk give me a call.  As always, confidental. 

Call or Text. 778-966-9177 Vida Glaser


After the flurry of sales  in the greater Victoiria Area in 2016/2017, there has been a gradual market slowing to “normal” in 2018 and 2019   The cooling of Vancouver’s market, slowing Alberta migration, mortgage stress tests, and implication of speculation tax working on speculation properties, the Victoria Area market has cooled to a simmer.
Th trickle up and down effect has gone up Island to smaller towns.  The real estate market both in Victoria and up island ( Vancouver Island Board) is now seeing normal seasonal fluctuations.  Late last fall the under $600,000 buyers were having a hard time finding anything to buy in the Mill Bay,  Cobble Hill /Malahat District  due to low inventory. The net result was a healthy gain in Cowichan Valley pricing of 6% increase.  Victoria buyers spilled over into these areas, trying to get more for their money under $600,000. While in Victoria the higher priced homes, over $1,000,000 were occasionally seeing some price reductions due to a smaller customer base.
The late months in 2019, Victoria and Southern Vancouver Island home inventory started to get low.  Recently in Mid-January 2020 there are ample new listings in many price categories in Victoria.  Similarly it is expected that there will be more listings on the Vancouver Island board this spring.
To you, that means that buyers can take their time looking and will less likely see competing offers for the well priced homes. Unchanged prices in Victoria for the past few months will likely see more activity and perhaps an uptick on prices while the inventory is still lower in early spring 2020.  In the lower price ranges under $600,000, in the Mill Bay/Malahat areas, there will still be a high demand for homes. Similarly, there is also a gap in available homes, in Cowichan Bay and Duncan area, between $350,000 to $450,000.  
If you are thinking of selling your home, please call Vida Glaser to get you the best price.

January 2019 Real Estate Statisics

Sales numbers decreased in December 2018. What does that mean in the housing market? Fewer properties sold, so more to choose from.

“A grand total of 7,150 properties sold over the course of 2018, 20 per cent fewer than the 8,994 sold in 2017. 2018 sales came in very close to the ten-year average of 7,351 properties sold. Condominium sales totalled 2,162 in 2018, compared to 2,783 in 2017. Single family home sales were down from 4,069 in 2017 to 3,187 in 2018. 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2017 was $832,000. The benchmark value for the same home in December 2018 increased by 3.2 per cent to $858,600, lower than November's value of $865,200. The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2017 was $464,300, while the benchmark value for the same condominium in December 2018 increased by 8.2 per cent to $502,400, slightly more than November's value of $500,500.”

"The market in 2019 will continue to be quieter than in previous years, as buyers and sellers adjust to new market conditions and government policies," adds President Kerr. "Inventory is still quite low when you look at a longer range, which will continue to put pressure on pricing. Our overall economy is predicted to slow slightly, and that will likely mean a slower increase in interest rates but also slower growth. The good news is that savvy buyers will have more time to find their new homes, and that sellers will be under less pressure if they are planning to move within our market.

 This means more opportunity for buyers and that the market is approaching Normal values.  Watch for some price reductions while the market remains strong compared to Alberta.

Remember in evolving markets like ours, it's important to enlist the services of a REALTOR® to help you navigate what may be your largest transaction ever."


Is it a Good Time to Sell? November 2018 Real Estate Update

What do the Victoria Board November Statistics mean in Markets that are not “Victoria proper”?  Victoria Board October Statistics indicate the sales have decreased and sales are heading toward a balanced market - not a Sellers Market as labelled for the last 4 years.  Does this apply north of Langford?

The Malahat Area - which comprises Mill Bay, Cobble Hill, Shawnigan Lake and Malahat properties has its own set of statistics.  The Malahat area is lumped into the Victoria Real Estate Board Statistics, but has several unrelated characteristics. One, being that the Victoria Market is subject to Speculation and Vacancy Tax which affects the Market.  New building projects, properties that are vacant and properties that are rentable are all affected if different ways. In the Malahat Area, this tax does not apply. Second, the October Benchmark Price in Victoria was $881,000 for your “average home” in the Victoria board, a 6% increase over last year.  We know that in the Malahat Area, this is not the case. $650,000 will purchase a beautiful average home in today’s market, while single family homes in the $450-$550,000 are common. We are our own little microcosm. The Sales Statistics are quite specific.

If you would like to know where your home fits into the current area Real Estate Statistics Contact me for details and your own pertinent statistics.


Finally, there is some clarity. Buyers should have their REALTOR verify if the property they purchase maybe subject to this tax.  BC Government website info:


Speculation and Vacancy Tax


The speculation and vacancy tax is designed to prevent housing speculation and help turn vacant and underutilized properties into homes for people who live and work in B.C. The tax is a part of the B.C. government’s 30-Point Plan to address the housing crisis and help make life more affordable for people.

For 2018, the tax will be levied at:

  • 0.5% of the property’s assessed value for all properties subject to the tax

For 2019 and subsequent years, the tax will be levied at:

  • 2% for foreign owners and satellite families
  • 0.5% for British Columbians and other Canadian* citizens or permanent residents who are not members of a satellite family

The tax will be levied on owners who own the property on December 31 of each taxation year.

By levying the highest tax rate on foreign owners and satellite families, the tax ensures those with limited social and economic ties to the province pay the largest share.

For more info contact Vida Glaser REALTOR (250)743-0043


British Columbia Speculation Tax provides investment opportunites and homes for BC residents.  With the speculation tax being effective January 2018, we are already seeing more properties coming on the market after the first announcement in February 2018.  Investors with vacant properties are beginning to sell. The good news is for you; more great properties to buy.  Long term rentals are exempt fromthe tax, as are primary residences.  New housing projects will also provide opportunites for you to own a home in Beautiful British Columbia. Contact me for exempt map locations, where investment or second home opportunites are currently allowed.  Details from BC website below.

Implementation details:

Focus on urban centres:

The speculation tax applies to residential property in British Columbia’s largest urban centres facing the housing affordability crisis. These are regions with low vacancy rates that are facing severe affordability challenges in which home prices drastically exceed local incomes.

The tax applies in the Metro Vancouver Regional District (excluding Bowen Island and Electoral Area A, except the part of the electoral area that is the UBC and University Endowment Lands), the Capital Regional District (excluding the Gulf Islands and (Juan de Fuca), Kelowna-West Kelowna, Nanaimo-Lantzville (excluding Protection Island), Abbotsford, Chilliwack, and Mission. Most islands are excluded.


Primary residences of British Columbians are exempt from the tax.

Properties that are used as qualifying long-term rentals are exempt from the tax. Homes will need to be rented out for at least three months to qualify for an exemption in 2018. Starting in 2019, homes will need to be rented out for at least six months, in increments of 30 days or more, to qualify for an exemption.

Over 99% of British Columbians will be exempt, because the vast majority of homes owned by British Columbians in the province’s urban centres will either be owner- occupied or will be rented long-term.

Rate design:

In 2018, the tax rate for all properties subject to the tax is 0.5% on the property value.

In 2019 and subsequent years, the tax rates will be as follows:

  • 2% for foreign investors and satellite families;

  • 1% for Canadian citizens and permanent residents who do not live in British

    Columbia; and

  • 0.5% for British Columbians who are Canadian citizens or permanent residents

    (and not members of a satellite family). Credit design:

    British Columbians who are Canadian citizens or permanent residents, and not part of a satellite family, will be eligible for a tax credit that is immediately applied against the speculation tax. This credit will offset a total of $2,000 in speculation tax payable. For homeowners with multiple properties, the tax credit will only apply to one property.

    This tax credit will ensure that British Columbians do not pay tax on a second home valued up to $400,000. For more expensive vacant properties, the credit ensures that tax only applies to the value of the property above $400,000.


Who doesn’t pay the tax:

The vast majority of British Columbians:

Over 99% of British Columbians are estimated to be exempt from the speculation tax because they own a home and live in it, rent a home, have a second property that is outside of a designated urban centre, have a second property that is valued below $400,000 or have multiple urban properties that are rented out long-term.

People whose homes and cottages are outside the designated urban centres:

The speculation tax uses a targeted approach. It is purposefully designed to help bring housing stock onto the market in B.C.’s urban centres hit hardest by the housing crisis. People with homes and cottages outside the designated area do not pay the speculation tax.

Homeowners with properties in designated urban centres, but who rent them out long-term:

People who hold properties in designated urban centres will also be exempt from the tax if they rent the properties out at least six months a year.

Those eligible for special exemptions:
There will be exemptions to accommodate special circumstances, including:

  • The owner or tenant is undergoing medical care or residing in a hospital, long- term care or a supportive-care facility

  • The owner or tenant is temporarily absent for work purposes

  • The registered owner is deceased and the estate is in the process of being



Gulf IslandsVictoria Marina


January 2, 2018  A total of 462 properties sold in the Victoria Real Estate Board region this December, 1.9 per cent fewer than the 471 properties sold in December last year.

A grand total of 8,944 properties sold over the course of 2017, 15.8 percent fewer than the record breaking 10,622 that sold in 2016. 2017 sales came in at 21.7 per cent over the ten year average of 7,349 properties sold.

"Early in 2017 we discussed how the Victoria area housing market would be different than the record breaking year we had in 2016 and that over the course of the year we'd probably see a gradual return to a more balanced market. We did see evidence of this change come early in the year, as multiple offers and rapid price increases leveled out," says Victoria Real Estate Board President Ara Balabanian. "However, the ongoing low inventory of properties for sale meant that buyers continued to experience competitive situations in high demand areas, and multiple offers were still a common occurrence as buyers negotiated in a tighter market. What we couldn't anticipate were outside factors such as changes to mortgage qualifying rules that may have pushed people into the market early. The pending mortgage stress test in particular is likely to have caused much of the increased activity we've seen in November and December."

There were 1,384 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2017, a decrease of 21.5 per cent compared to the month of November and 7.3 per cent fewer than the 1,493 active listings for sale at the end of December 2016. This is the lowest level of inventory for the area in the month of December since the statistic was tracked in 1996.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2016 was $753,900. The benchmark value for the same home in December 2017 has increased by 9.3 per cent to $823,800, and is slightly lower than November's value of $824,600.

"Overall, the low inventory and the continued interest in Victoria real estate meant that well-priced homes were quick to sell in 2017. Moving forward, we expect to see more inventory come into the market, which will continue to move us toward a more balanced state," adds President Balabanian. "We also expect housing prices to remain stable, without the increases we tracked in 2016, and anticipate steady slow growth. In markets like these, it's important to enlist the services of a REALTOR® to help you navigate what may be your largest transaction ever."

About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of Realtors. The Victoria Real Estate Board represents 1,374 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.



Victoria New Construction


Victoria Real Estate Market Statistics for August 2017

Sept 1, 2017 - A total of 736 properties sold in the Victoria Real Estate Board region this August, 16.6 per cent fewer than the 883 properties sold in August last year. 

"I admit to being a little surprised by the August numbers," notes Victoria Real Estate Board President Ara Balabanian. "I expected inventory numbers to be climbing by now, but instead we've seen even lower numbers of listings on the market. This is likely leading to some buyer fatigue along with pressure on pricing in high demand areas."

There were 1,917 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2017, a decrease of four properties compared to the month of July, and 8.5 per cent fewer than the 2,094 active listings for sale at the end of August 2016. 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2016 was $743,200. The benchmark value for the same home in August 2017 has increased by 10.8 per cent to $823,100. 







Are you putting yourself and your biggest asset at risk?

For Sale by Owners…BEWARE

-You put yourself at risk of being sued or liable for misinformation or for non-disclosure on contracts; brokerages and associates would usually be the barrier to the home owner in this case.


-You risk losing thousands of dollars by poor pricing or poor exposure to the market to make your home price languish and get stale. Would you want to buy a stale loaf of bread? Your home is your biggest asset!


-Your real estate associate is trained in negotiating with the greatest benefit to, their client, the seller. They have a fiduciary duty to act in your best interest; with…… maybe the expert buyer.  Are you ready to haggle for the value of your home and to keep your equity for your most important asset?


-Would you feel comfortable selling your $400,000 retirement fund, with no expert advice, to a stranger?


Are you showing your own home, who is at risk?

-Who are you inviting into your home? Are they an interested neighbor – using your precious time to “look around”?  Are they a stranger who may be scouting out your home?  Have you told them when you are and aren’t home? Can they see children live here?


-Is there a security risk to being alone in your home with a stranger to you and your young or elderly family?  Is there a risk they may come back when you are NOT at home?


- Real estate associates a you professional real esate asscociate will pre-qualify a buyer to ensure their motive is to buy a home and keep your home safe and secure when it’s for sale.


Who saves the commission?  Will you be losing out on income?

-Buyers come in thinking they can save the commission, so they may “low ball “your price.


-Ask a buyer if they expect to pay full commission prices on a FSBO?.


-Are you offering the buyer’s agent 3.5% and 1.5% to come and see your home? If you are paying the same amount to buye’rs agents, are you really saving on the whole sale or just getting a discount for poor exposure and uncertain pricing and a lot of stress?


-Many professional real estate associates will not show their buyer’s a FSBO.  It may put their client at risk for a fraudulent sale or other legal issues, undisclosed defects, potential difficulty in negotiating with an emotional sale or having to haggle for or put their full commission at risk.  Are you missing out on buyers seeing your home?


-Sellers will have to incur their own cost up front for time and cost of advertising, internet posting, marketing to get the same exposure to the real estate market at their cost when full service brokerage associate commission covers this.


-Sellers will have to lower their initial listing prices to gain attention in the market, then what happens when an offer comes in, will they offer full commission prices then, or will they offer even less?


-Who determines if the listing is competitively priced, too high? =No interest, Too Low? =Risk losing income from the sale? This is you professional real estate associate’s business and goal: to be educated to professional and provincial standards to help you price your home right.

After having read this?

Who comes out on top of a “For Sale by Owner” ( FSBO)?  


You may have heard that Victoria Real Estate is experiencing higher prices due to the low supply compared to February 2017?  In Last months statistiics indicate that inventory levels edged lower, with 1,537 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2017, 40 per cent fewer than the 2,562 active listings at the end of February 2016.  

Some buyers and sellers see this as low inventory for previous month and expect an increase of supply for the comiing months  Look again....In February 2015 there were 3,480 active listings for sale on the Multiple Listing Service® at the end of February, 7.7% fewer than the 3,770 active listings in February 2014. Total MLS® sales in February were 412, a 4.6 per cent increase over February 2013 when 394 units sold and a 20.5 per cent increase over the 342 sales reported to the Victoria Real Estate Board (VREB) in January 2014.

The high supply of homes on the market was due to low sales in previous years combined with higher inventory levels. 


Good news  for buyers , number of sales have decreased; March 1, 2017 - A total of 675 properties sold in the Victoria Real Estate Board region this February, 12.6 per cent fewer than the 772 properties sold in February last year. We are seeing fewer sold, in the last month, so things may be settling down.  Builders are building up a storm, there are options for people who want to move to more suburban centres for lower prices. We might see and easing up of high prices and more Victoria homes available this spring.  The peak may have passed


Keep your eye out for a cooler market late this spring. March trends will give better indications of where the peak prices are going.


Calgary and area real estate markets are trending to more balanced conditions. Transition to higher prices will be slow. Detached inventory in Calgary was easing to lower levels in Jan. and Feb.  stablizing prices.  Sales to new lisitng ratio has improved from Feb. 2016 to Feb 2017, 39% to 55%.  Benchmark prices for detached homes were 1% lower than 2016. CREB says," sellers need to be realisitc with pricing".  We may have realized the bottom of prices and  it is forcasted to be a slow and steady recovery.  

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.