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When I was a kid, I learned that when my parents asked me to clean
my room it meant that we were going to be moving soon. It became
a family joke that when renovation discussions commenced, it was
to get the house ready for the market not to improve the home for
our personal enjoyment. I never understood why they waited so
long to renovate for someone else to enjoy their hard work!
To celebrate the new year, Robert and Wendy have recently
undertaken a major renovation in their home, and when the
renovation discussions started the first thing I asked was “Should I
clean my room”? After living in the same home for the last 18 years
with beige and pink sinks, tubs and toilets and a very dated kitchen, they decided it was finally time to modernize.
As a Realtor® , I was thinking this is a great idea...kitchens and bathrooms sell houses! Although they promise
they’re not moving, and that this time they’re actually going to enjoy the fruits of their labour, they have truly
learned how challenging it can be to coordinate and take on a major renovation on their own. When planning the
layout and fixtures, it is important to consider resale value if you are going to be selling the property down the road.
If you are considering making a move in the next few months, and are wondering if you should do some renovations
to prepare your home for the real estate market, please give us a call! We’ll be happy to provide guidance about the
wisest places to spend your renovation budget, and can prepare a market analysis of what your home could expect
to sell for pre-renovation as well as a post-renovation.
The best time to put your home on the market is when the inventory is the lowest, and when there is the least
amount of competition. When there is lots of competition (ie other homes for sale in your area) the likelihood of
having to negotiate is higher than if you’re the optimum choice of one. As we head further into the spring market,
the inventory typically starts to climb, and usually reaches it’s peak around the May-June period. When inventory is
high, it’s the opportune time for buyers to take advantage of the choice available and be able to negotiate a fair
price.
We wish you happiness, prosperity and good health in 2012! Thank you for continuing to choose us for all of your
real estate needs. With your support we look forward to another successful year helping our clients and their
referrals with all of their real estate needs. All the very best to you in 2012!
Yours truly,
Jenni Carswell
Your Real Estate Consultant—For Life!
A referral is sending someone you care about to someone you trust. Thank you for trusting us with your referrals.
Welcome to our new clients who joined our “Real Estate Family”.
Joyce Skolnick (Referral)
January 2012
Number
of Sales
Six Month Rolling Price
December
2010
December
2011
Single Family 170 $620,911 $607,221 -2.20%
Condominiums 89 $320,450 $321,391 +0.29%
Townhomes 35 $434,950 $422,721 -2.81%
% Change
Year to
Year
WATCHING THE MARKET
December 2011
Victoria Real Estate Board statistics are
available at http://www.vreb.org/
mls_statistics/index.html
Client Testimonial “Your work for us has been amazing. You put in so much time and effort
and we do appreciate all you have done. We will most certainly recommend
you to anyone we know who needs a wonderful real estate team!”
~ Derek & Marcia Egan
Homes In Need of New Owners
Bright and sunny southeast corner suite on the quiet side of a fully
remediated adult building offers 2 spacious bedrooms featuring their own
ensuite bathrooms, one with step-in shower. Kitchen with ample storage
and eating area with bay window, dining room and living room ideal for
entertaining complete with gas fireplace and wall to wall windows, in-suite
laundry room with ample storage. Plenty of storage and additional storage
available. Sunny wrap around deck for those warm afternoons, secure
underground parking plus additional parking for guests. Enjoy some of the
area's finest shops in the nearby Oak Bay Village, and conveniently located
only a short jaunt to the public library, downtown and Jubilee Hospital.
202-1807 Oak Bay Avenue $349,000
If you have questions about your 2012 Property Assessment, give us a call!
We’d be pleased to answer any questions you may have!
NEWS RELEASE—B.C. raises threshold of homeowner grant Ministry of Finance Released Jan. 3, 2012.
VICTORIA – British Columbians who own homes worth up to $1.285 million may be eligible to receive the entire
homeowners’ grant this year, after the Province raised the threshold to accommodate rising property values.
BC Assessment estimates the value of all homes based on their market value on July 1 each year. The Province then
reviews the information and adjusts the threshold of the homeowner grant to make sure at least 95.5 per cent of
eligible homeowners receive the full amount. Those with homes valued above the threshold may still be eligible for
a partial grant.
The homeowner grant provides a maximum reduction in residential property taxes on principal residences of $570
in the Capital, Greater Vancouver and Fraser Valley regional districts and $770 elsewhere in the province. An
additional grant of $275 is available to those who are age 65 or over, permanently disabled or a veteran of certain
wars.
Continued on next page —>
A New Year's Wish
On New Year's Eve, Marilyn stood up in the local pub and said that it was time to get ready. At
the stroke of midnight, she wanted every husband to be standing next to the one person who
made his life worth living. Well, it was kind of embarrassing. As the clock struck - the bartender
was almost crushed to death.
NEWS RELEASE cont’d
The government also announced in November 2011 plans to create a
further grant of up to $275 for low-income Canadian Forces veterans with
more recent service in the event they do not already qualify as seniors or
persons with disabilities. These details will be announced shortly.
In Budget 2007, the homeowner grant program was also expanded to include eligible low-income
homeowners who, but for the high assessed value of their homes, would have been eligible for the full
grant. The homeowner grant is one of the ways the Province helps B.C. residents with property taxes. The
Province also provides property tax deferral options for qualified individuals, including homeowners over
55, persons with disabilities, and families with children.
The deferment programs are low-interest loan programs that allow qualifying residents to defer all or part
of their property taxes until they sell or transfer ownership of their home, or it becomes part of an estate.
Application forms are available when property tax notices are issued in spring.
Quotes:
Minister of Finance Kevin Falcon –
“The homeowner grant is one way our government can help support families in the face of challenging
economic times. Homeowners who have seen their property values rise will continue to be protected as
we increase the threshold.”
“We continue to see challenging economic times around the world. By maintaining the homeowner grant,
we continue to help families with the costs of owning their homes.”
Quick Facts:
In 2011, the threshold was raised to $1.15 million, and the Northern and Rural Area Homeowner Benefit
grant of $200 was created to help those living outside the Capital, Greater Vancouver and Fraser Valley
regional districts.
In 2009 and 2010, the grant threshold was set at $1.05 million.
The grant is not provided automatically. Homeowners must apply every year.
The grant is available to Canadian citizens and to landed immigrants who normally reside in B.C.
Robert E. Nemish & Associates
4440 Chatterton Way,
Victoria, B.C. V8X 5J2
Phone: (250) 744-3301
Fax: (250) 744-3904
Email: [email protected]
Web: www.robertnemish.com
Giggle
Time
More information contact:
Jamie Edwardson
Director of Communications
Ministry of Finance
250 356-2821
Robert E. Nemish & Jenni Carswell
“Exceeding Expectations” With
• Trust
• Integrity
• Knowledge
• Service
