Friday, September 09, 2016

New ListingTriplex on Langford Lake

A rare lakefront revenue property! This spacious legal non-conforming triplex is situated on .17 acre of waterfront. Each of the 3 suites enjoying the fantastic southwesterly view of the quiet waters of Langford Lake. Over $65,000 in recent updates incl new windows, new flooring, fresh paint, new deck surface, new roof over 2 of the 4 garages, new hot water tank & now on sewers. The middle suite is level entry with access to a large deck overlooking the lake. The upper suite has been nicely updated (incl new appliances). Conveniently located close to all the amenities in a growing community AND this part of Goldstream has been cut off from the highway! Blueprint available. To view, call Lorne Tuplin with RE/MAX Camosun 250-217-4600




Upper Suite Kitchen

Lower Suite Kitchen

View from lower suite

Main floor kitchen

Panoramic view

Wednesday, September 07, 2016

This is a busy month in many households. Summer is over. The kids are back in school. It’s time to prepare for the change in seasons.
If you're trying to find someone to help finish any lingering yard work or home repairs, give me a call. I can recommend professionals in almost any home related field – like contractors, designers, landscape companies, junk removal services, handy people, and more.
Of course, if you, a friend or neighbour wants real estate help, please call me for the professional advice you need.

Lorne Tuplin
RE/MAX Camosun
Victoria, BC
Cell: 250-217-4600Toll Free: 1-877-478-9600
  RE/MAX Awards: Lifetime Achievement, Hall of Fame
What Buyers Notice Most When Viewing a Home
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Do you remember the last time you viewed a home for sale? What do you recall about that property? You likely remember the features and characteristics that stood out, such as the gorgeous hardwood floors, the spacious kitchen with the long island, or... the faucet that was dripping in the main floor washroom!
Obviously, you want potential buyers to notice the great features of your home rather than those things that are less appealing. So, when preparing your home for sale, pay particular attention to what a buyer is likely to notice and remember.
Say, for example, you have a small unused bedroom that has become the unofficial storage room. If something doesn’t go anywhere else, it gets put in that room! Now it’s a cluttered space.
What will buyers remember about that room after a viewing? Will they see the potential for a home office or comfy reading room? Most likely, they will just remember a small, cluttered, potentially unusable space.
Buyers will also notice a dripping faucet, a scuff in the wall, or the lingering odour of spicy cooking in the kitchen. They will remember all the things that stand out, regardless of whether they are positive or negative.
So, when you list your property, make sure that what stands out for potential buyers are the desirable features of your property.
If you have a wonderful sitting room with large windows and a great view, make sure that space is clean and comfortable. You may even want to “stage” it a little, perhaps with some fresh flowers and a good book sitting on the end table.
As your REALTOR®, I can help you determine the most marketable features of your property and how to ensure buyers notice – and remember – them. Call me today.
Make a “Great Things” List
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What’s great about your home? Is it the spacious foyer and generous main floor closet space? Is it the beautiful washroom? Is it the playground that is only a short walking distance away?
Although some properties may look similar at first glance, every home is unique – with features and characteristics that make it special.
If you’re considering putting your home on the market, make a list of all the great things about your property that potential buyers will want to know.
Start by thinking about what you think are the desirable features of your home. Write down what you really love about the house and the surrounding area.
Next, think about what friends and other visitors to your home think is great about it. Have you ever heard anyone say something like, “I really love your kitchen!” or, “This is such a quiet street”? Those are indications that potential buyers will like those features and characteristics too.
Finally, talk to me. I can help you determine all the great things about your home and area, and how to market them.
Can You Afford the Home You Want?
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Can you afford to purchase the home you really want? Here are some things to consider:.
  • What kind of home do you want? What kind of neighbourhood do you want to live in? What features and characteristics do you need in a home? (Three bedrooms? A large livingroom for entertaining? A backyard big enough for a garden?)
  • What homes currently on the market match that criteria? Are there some properties for sale that are close to what you’re looking for? What are their listing prices? How much, realistically, will it cost to buy one of those homes?
  • How much, realistically, can you expect to get for the sale of your current property?
  • How much of a mortgage will you need? How does that compare to the mortgage you qualify for?
  • What additional costs will you incur in selling your current property and purchasing your new home? (For example, moving, home inspection, repairs and renovations, closing costs, etc.)
Chances are, there’s a home on the market that you can afford – and is right for you. Call me today to discuss.

New Listing - Lakefront Triplex

Looking for that special holding property or always wanted to build on a South exposure lake lot?  This property would potentially bring in $3,000-$3,500 per month. Each suite has its own garage & two have decks. Asking $949,900. Call Lorne to view 250-217-4600.

Thinking of Selling?

If you are considering selling a home, condo or townhouse, now is the perfect time to maximize on your return on investment!
Homes are selling quickly and in many cases for more than list price. Call me to talk about the listing process.
Direct Cell is 250-217-4600

Lorne Tuplin
RE/MAX Camosun
Victoria, BC
Cell: 250-217-4600
Toll Free: 1-877-478-9600
RE/MAX Awards: Lifetime Achievement, Hall of Fame

Thursday, September 01, 2016

Market Activity Update

Victoria Property Sales Continue Record Breaking Pace

A total of 883 properties sold in the Victoria Real Estate Board region this August, an increase of 19.2 per cent compared to the 741 properties sold in August last year.

"August is a record breaker in more than one way. For the sixth consecutive month, we have a sales record with more sales than any other month of August on record," says Mike Nugent, 2016 President of the Board. "We also have the lowest number of listings available for sale in an August than we've seen in the last twenty years. That lack of inventory will continue to put pressure on pricing. Sales would be even higher were there more inventory available for buyers to purchase. Regardless of the low inventory, it's safe to say that by mid-September we will have surpassed the number of sales for all of 2015, with four months remaining in the year."

Inventory levels remain lower than last year, with 2,094 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2016, 43.2 per cent fewer than the 3,688 active listings at the end of August 2015.

"As we saw last month, the expected seasonal slowdown continues as we move towards the autumn," adds Nugent. "August tends to be the slower summer month, though the year-over-year sales numbers are very strong. This shows continued consumer confidence in the Victoria real estate market. It is early to determine a trend, but we don't see any early indications that the foreign investment Property Transfer Tax implemented in Metro Vancouver has impacted sales to any extent in Victoria at this time."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August, 2015 was $603,200. The benchmark value for the same home in August 2016 has increased by 23.8 per cent to $746,900

The graph below shows market activity over the past year.

Wednesday, August 03, 2016

Victoria Real Estate Market Continues to Sizzle in Summer Months

Victoria Real Estate Market Continues to Sizzle in Summer Months

A total of 972 properties sold in the Victoria Real Estate Board region this July, an increase of 22 per cent compared to the 796 properties sold in July last year.

"Though we saw the seasonal slowdown that we expect this time of year, we had another record breaking month," says Mike Nugent, 2016 President of the Board. "The last time we saw a July this busy was in 2009 when 933 properties sold."

Inventory levels remain lower than last year, with 2,161 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2016, 45 per cent fewer than the 3,942 active listings at the end of July 2015.

"Late last week the provincial government approved new legislation that may affect the real estate market in our area, though at this time we can only guess how a foreign investor's tax in the Metro Vancouver region will impact sales here in Victoria," adds Nugent. "Recent data released by the government shows that nearly ten per cent of property transfers in Metro Vancouver involved foreign nationals. This is part of the rationale for applying a fifteen per cent tax on transactions only in Metro Vancouver at this time. Does this mean international demand will spill over into Victoria and other areas of BC? We won't know until we see the data. The Capital Regional District saw two per cent out of country buyers in the year of 2015. Although this is a small percentage of our buyers, anecdotally foreign buyers do tend to favour the same core neighbourhoods and therefore can have an impact on those areas."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July, 2015 was $599,800. The benchmark value for the same home in July 2016 has increased by 23.6 per cent to $741,100.

The graph below shows the market value increase in 3 areas of Greater Victoria

Thursday, July 28, 2016

"Lorne was recommended to us by our trusted friend and realty team in Saskatoon. From the first conversation, we could tell that Lorne was well-connected locally, detail-oriented, and very knowledgeable about about home construction & repair costs; but most importantly, he genuinely cared about what we wanted/needed in a home and did everything in his power to make it happen, while still ensuring we were making a solid investment for the future.

We were moving from Coquitlam without knowing anything about the island and just knew that we needed to be within an hour’s drive of Victoria. We had a wish list and only a few short days to look and with only that to go on, in a very hot and very fast-moving market, Lorne lined up some incredible picks for us – making sure we made the most of our short house hunting visits to the island.

He was on-time, organized, prepared, and always quick to point out what repairs/costs might need to be done, what the commute would be like, and what the future might hold for each neighbourhood, including resale values based on historical data and his knowledge of the market. He saved us from making a purchase that would have cost a fortune in repairs and found us the most incredible home in Sooke that checked all of our boxes and more. He had even gotten into the house before us on the possession date to do a thorough inspection and ensure the sellers left it in top condition for us.

He is great company, a killer negotiator, and a very savvy businessman but more than anything, Lorne truly cares that you are happy with your purchase. No pressure, no expectation, and no bullshit; just genuine customer service.

What more can we say but: HIRE THIS MAN! It will be one of the smartest decisions you’ve ever made."  

Thanks again for everything Lorne – can’t wait to see you again soon!


Elyse & Scott
Elyse Renouf, MBA