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The Victoria real estate market continues to evolve, and recent trends offer promising opportunities for both buyers and sellers. Here's what you need to know:

A Shift Towards Balance

The Victoria real estate market continues to evolve, and recent trends offer promising opportunities for both buyers and sellers. Here's what you need to know:

551 properties sold, 39.8% more than the 394 sold in November 2023 and down 15.7% from October 2024. Condos were up 55% from last month, with 186 units sold. Sales of single-family homes were up 36%, with 263 sold.

While the number of active listings has dipped slightly compared to October, providing some breathing room for buyers, the market still shows a 7.3% increase in listings compared to last year. This movement indicates a shift towards a more balanced market.

Benefits for Buyers & Sellers

This newfound stability creates a favourable environment for both buyers and sellers. Here's how you can capitalize on it:

For Buyers:

• Lower Interest Rates: Take advantage of recent interest rate decreases! Explore mortgage options and lock in a favourable rate. [Connect with me for a fantastic broker recommendation!] 

• Less Competition: A balanced market means fewer competing offers. Be prepared to act quickly on properties you love.

For Sellers:

• Competitive Pricing: Attract buyers with a realistic asking price that reflects the current market conditions.

• Strategic Presentation: Stage your home to showcase its best features and leave a lasting impression on potential buyers. Our proven marketing strategies can help you create that crucial first impression. [Ask me about our marketing expertise!] Sell the right way.

Navigating the Market with Confidence

Whether you're buying your dream home or selling your current property, navigating the real estate market can feel complex. I'm here to help you make informed decisions and achieve your goals.

Let's Connect!

Let's chat about your specific needs and discuss how I can guide you through the Victoria real estate market.

GET IN TOUCH

Jacqueline Ross, REALTOR® | 250.415.5656 | jac@yourvanislehome.com 

First Time Home Buyers:

The federal government is making it easier for Canadians to enter the housing market. Starting December 15th, 2024, the maximum purchase price for insured mortgages will increase to $1.5 million, and first-time homebuyers can now finance their homes over 30 years. This change could make it easier for Canadians to afford their dream homes.

Insured Mortgages Stress Test News:

Mortgage brokers were previously required to stress test or, in other words, re-qualify clients for their mortgage when switching them to a different lender at renewal. As of November 21, 2024, the stress test requirement on straight switches for insured mortgages has officially been lifted.

This means it’s easier to switch lenders without the usual stress tests. It could open doors to better mortgage options, especially if your renewal is coming up in the next two years.

To take advantage of this, consider working with a mortgage broker. They can help you explore a wide range of lenders and products, securing the best rates and terms to fit your specific needs. By planning early, you can make informed decisions and potentially save significant money on your mortgage.

Getting the Help You Need:

With interest rates fluctuating, navigating the mortgage landscape can be tricky. Whether you're a first-time buyer or a seasoned investor, I'm happy to connect you with a trusted mortgage professional who can answer your questions and guide you toward the best financing options.

Ready to explore your mortgage options? Contact me today to discuss your specific needs and learn how I can help you achieve your homeownership goals.

Jacqueline Ross, REALTOR®
Coldwell Banker Oceanside
250.415.5656
YourVanIsleHome.com
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Winterize Your Home: Energy-Saving Tips for the Cold Months: As the temperature drops, it's time to turn up the heat on energy efficiency. By implementing a few simple strategies, you can significantly reduce your energy consumption and lower your utility bills. Here are some tips to help you winterize your home:

Insulation is Key

• Seal Air Leaks: Use caulk and weatherstripping to seal any gaps around windows, doors, and outlets.

• Insulate Attics and Walls: Proper insulation can dramatically reduce heat loss. Consider hiring a professional for a thorough insulation assessment.

• Upgrade Windows: Energy-efficient windows can significantly improve your home's insulation and reduce heat transfer.

Heating System Tune-Up

• Schedule a Professional Inspection: A yearly inspection can identify potential issues and ensure optimal performance.

• Change Your Filter Regularly: A clean filter improves airflow and reduces energy consumption.

• Consider a Programmable Thermostat: Set specific temperatures for different times of the day to save energy.

Water Heating Efficiency

• Lower the Temperature: A slightly lower water temperature can save energy without sacrificing comfort.

• Insulate Hot Water Pipes: Reduce heat loss and improve efficiency.

• Fix Leaky Faucets: Promptly repair leaky faucets to conserve water and energy.

Smart Appliance Choices

• Energy-Star Certified Appliances: These appliances are designed to be more energy-efficient, saving you money in the long run.

• Unplug Electronics: When not in use, unplug electronics to avoid phantom energy consumption.

Lifestyle Habits

• Layer Up: Wear warm clothing indoors to reduce the need for higher heating temperatures.

• Use Natural Light: Open curtains during the day to maximize natural light and reduce reliance on artificial lighting.

• Cook Smart: Use the stovetop efficiently and consider using a microwave or slow cooker for certain meals.

By implementing these energy-saving tips, you can create a cozy and energy-efficient home while reducing your environmental impact. Remember, small changes can lead to significant savings.

If you’re ready to start your search for an existing energy-smart home? Search here: https://yourvanislehome.com/

Contact me for more tips and tricks on making your home safe, energy-efficient and ready for winter and beyond:

Jacqueline Ross, REALTOR®
Coldwell Banker Oceanside
250.415.5656
YourVanIsleHome.com
Instagram | Facebook  
Get the newsletter!

Welcome to Your Real Estate Journey

Hi there! I'm Jacqueline Ross, your dedicated real estate agent in the beautiful city of Victoria, British Columbia. I'm passionate about helping people find their dream homes, and I've been assisting clients for years.

Why Choose Me as Your Realtor?

As a seasoned real estate professional, I bring a wealth of knowledge and expertise to the table. I'm committed to providing personalized service and ensuring a smooth and stress-free experience for every client. Here's what you can expect when you work with me:

• In-Depth Market Knowledge: I have a deep understanding of the local market trends, neighbourhoods, and property values in Victoria and surrounding areas.

• Expert Negotiation Skills: I'm a skilled negotiator who will fight for your best interests, whether you're buying or selling.

• Cutting-Edge Technology: I utilize the latest digital marketing tools to maximize your property's exposure and attract qualified buyers.

• Personalized Service: I take the time to understand your unique needs and goals, tailoring my approach to your specific requirements.

• Strong Community Connections: I'm actively involved in the local community and have a strong network of industry professionals.

My Commitment to You

When you choose me as your real estate agent, you're not just hiring a professional; you're gaining a trusted partner. I'm dedicated to providing exceptional service and ensuring your complete satisfaction.

Whether you're a first-time home buyer, a seasoned investor, or looking to sell your property, I'm here to guide you through every step of the process. From finding the perfect home to negotiating the best deal, I'll be there to support you.

Explore YourVanIsleHome.com

To learn more about my services and to explore current listings, please visit my website, YourVanIsleHome.com. You can also connect with me on social media to stay updated on the latest market trends and local events.

I'm excited to help you achieve your real estate goals. Let's connect and start your journey to a brighter future.

Contact me today to schedule a consultation.

Jacqueline Ross, REALTOR® 

Cell: 250.415.5656

Facebook - https://facebook.com/jacquelinerossrealty

Instagram - https://instagram.com/thejacquelineross