The Blog

I’m here to help you understand the latest in our market, influenced by both recent federal developments and local trends.

Federal Election Impact on Housing & Mortgages: A Quick Look

Following the recent federal election where the Liberal Party secured a minority government, several housing-related promises are on the horizon. Key proposals include potential GST removal on new homes under $1 million for first-time buyers and significant investment in homebuilding, particularly for rental and affordable units.

While interest rates may see further easing later this year, economic uncertainties remain. The full impact of these policies will become clearer with the upcoming federal budget.

Victoria Real Estate Market: April 2025 in Review

April saw a total of 642 properties sold in the Victoria region, a slight decrease year-over-year but an increase from March. Condominium sales decreased, while single-family home sales remained relatively stable. VREB Chair Dirk VanderWal noted that federal election uncertainty and broader US economic concerns likely tempered the spring market, yet the local market showed "continued stability" with steady pricing and inventory.

Active listings rose to 3,425, indicating a balanced market with more options for buyers. While single-family homes in certain price ranges are in demand and may see multiple offers, the condo market has a larger supply. The benchmark price for a single-family home in the Victoria Core was $1,344,800 (a 3.3% annual increase), and for a condo, it was $566,100 (a 0.9% annual increase).

What This Means for Buyers

• More inventory provides greater choice.

• Price growth is relatively stable, though some competition exists for single-family homes.

• Potential GST savings for first-time buyers on new homes are worth monitoring.

• Explore various property types, as the condo market offers more options.

What This Means for Sellers

• Strategic pricing and presentation are key in a balanced market.

• Well-priced single-family homes in desirable areas can still see strong interest.

• The condo market requires competitive pricing to attract buyers.

• Be mindful of broader economic and political influences on buyer sentiment.

Navigating Your Real Estate Future:

Understanding the nuances of interest rate decisions and their potential impact on your real estate plans is crucial. Whether you're considering buying your first home, looking to sell your current property, I'm here to provide clarity and expert guidance.

And speaking of expert guidance, navigating the mortgage landscape can feel overwhelming. If you're looking for assistance with a mortgage renewal or are considering a purchase and need trusted advice, I highly recommend connecting with Paul Macara and Dan Miller of The Mortgage Group. They are seasoned professionals who can help you understand your best options in this evolving economic environment.

Don't hesitate to reach out with any questions you may have. I'm always happy to help you make informed decisions and achieve your real estate goals right here in beautiful Victoria!

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
Instagram | Facebook  
Get the newsletter!

Selling your home is an exciting process, but it also requires a keen eye for detail. While you're likely focused on scrubbing countertops and vacuuming floors, savvy buyers often notice the little things that can speak volumes about how well a home has been maintained. Don't let these five frequently overlooked areas leave a negative impression and potentially cost you a sale. Here's your checklist for those often-forgotten cleaning tasks:

1. The Silent Accusers: Baseboards and Door Frames

Think about it – your eyes naturally scan along the edges of a room. That's where dust and scuff marks love to accumulate on baseboards and door frames. These seemingly minor blemishes can subconsciously signal a lack of attention to detail and overall neglect. The Fix: A quick wipe-down with a damp cloth or a gentle cleaning solution can make a surprisingly significant difference, instantly freshening up the entire space.

2. Grime Hotspots: Light Switches and Outlet Covers

Consider how often these are touched! Light switches and outlet covers are magnets for fingerprints, dust, and general grime. These small, often-overlooked surfaces can be a subtle turn-off for buyers. The Fix: Arm yourself with a magic eraser or a gentle all-purpose cleaner. A few seconds of scrubbing can make these high-touch areas look brand new and convey a sense of cleanliness throughout the home.

3. Breathing Easy (and Looking Clean): Vents and Fan Covers

Dusty HVAC vents and bathroom fan covers are more noticeable than you might think. Not only do they look unsightly, but they can also hint at potential air quality issues. The Fix: Take the time to remove these covers and give them a proper cleaning. A vacuum cleaner with a brush attachment works well for loose dust, and a wash with soapy water can tackle more stubborn buildup. Clean vents and fans contribute to a fresher-feeling home.

4. A Glimpse into Storage: Inside Closets

Buyers always peek inside closets. What they find can significantly impact their perception of the home's storage space and overall care. Cluttered or dirty closets can feel smaller and less appealing. The Fix: Beyond decluttering and organizing, take a moment to wipe down shelves and vacuum or sweep the closet floors. Neatly organized, clean closets create an impression of ample storage and a well-maintained home.

5. The Hidden Evidence: Under Appliances

That narrow gap under your stove or refrigerator might seem out of sight, out of mind. However, buyers often notice these areas, and accumulated dust, crumbs, or spills can be a major red flag. The Fix: Take the effort to carefully pull out your appliances (if possible and safe to do so) and thoroughly sweep or vacuum underneath. A clean area under appliances suggests a deeper level of care and attention to detail.

The Takeaway:

A truly sparkling clean home goes beyond the obvious. By paying attention to these five often-overlooked areas, you can create a more positive and confident impression on potential buyers. Remember, a clean home doesn’t just look better – it feels better, and those positive feelings can be the key to a successful sale!

Ready to List Your Home and Shine?

Getting your property ready matters to buyers. When you list with me, I'll support you at every step. To make cleaning easier and save you money, I can connect you with a trusted local cleaner and get you a discount! Let's ensure your home makes a fantastic first impression. Contact me today to get started!

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
Instagram | Facebook  
Get the newsletter!