Victoria British Columbia Real Estate Information Archive

Sometimes I can get to busy and do the right thing but its the wrong thing. Also sometimes I am thinking about 20 things at a time and make mistakes.

Last week I went to my bank, RBC, and did a deposit and asked for cash back through ATM. Did deposit, inserted envelope, grabbed receipt and card and left. What did I forget? the $100 that I had withdrawn. By the time I got back to bank 5 minutes had elapsed and the money was gone.

I spoke to Robin at the bank and explained what happened. I assumed its gone and a lesson for Ron to slow down. Well they checked the camera and could not find out who may have accidently taken money but they credited my account for $100! wow. talk about great customer service! I am very glad to have them do my banking day to day for me as they know me (and put up with me) and they can deal with all the different business and projects I have going on.

Thanks Robin! Thanks RBC

Ron

ps. I now double check when withdrawing money! and slow down!

Its funny to see the media all over the change in the Market.

As I mentioned here back in May, the market peaked in Activity in April and has been going south, big time, since then.

We had a very successful July and August is looking good. So whats the secret people ask - price! price! price!

We can do all the marketing in the world and we do but if buyers don't like your price, not going to sell.

So what to do. Take a look at last sales that are comparable and deduct 3-5% and put your home there. it will sell. There are lots of buyers around but they moved down fast when market did. I still come across some sellers who think its getting better. This market reminds me of 1994 all over again. Sellers wanting more than market and buyers waiting. Of course 95-2000 saw price reductions, flat market but lots of sales.

We find that when sellers adjust to new reality the market goes. There is a bottom in our market to where prices will fall but when prices have doubled or even tripled in last 9 years the days of 10% increases are gone.

But with cheap cheap mortgage money out there, why not buy? We were quoted a 5 year rate yesterday of 3.79%!!! I remember starting in market at 14%! and when it got to 9% being happy!

The buyers we are working with are finding some very good buys out there right now. and our sellers are finding if priced right that there are sales happening.

Ron

I had a great chance to attend a nice community event this morning that reminded me that I work in a great area with some great local people.

Local Chartered Accountants Flader, Hale and Hugesman hosted a Pancake Breakfast for a very worthy cause. They were raising funds for Ethan Gregory and his family.

Ten year old Ethan has been diagnosed with Wilms Tumor (cancer of the kidneys) and until December he will be traveling from Sidney to Vancouver Childrens Hospital every second week for Chemotherapy.

If you were thinking that you would like to donate then contact the accountants at their office at 250-656-3991 and they will let you know how and where.

It was nice to see the support from local business's - Fresh Cup Roastery Cafe, Seaside Times, Starbucks Coffee, Thrifty Foods!

We live in a great area on the Saanich Peninsula and its nice to see the local business's leaders out making a difference for a deserving young man and his family!

If you get a chance to donate, do. if you get invited to events like this, go. If you feel like it, host an event!

Thanks to all involved. You make a difference!

With the major market changes over last two months the media has finally caught up to what I said in March and April - the market has shifted. Victoria had a 34% drop in sales in June and a 45% drop in sales in July and only now the Media is picking up on it. This year the most number of sales were in April vs highest number last July. So the market has changed. What else? well there are 4400+ homes for sale. with 527 sales last month that means there are about 8 1/2 months homes for sale. Not huge by some US cities standards but still what the economists say is a buyers market.

So what should you do?

First stop listening to the self serving groups that don't say the truth. I and many friends laughed the other day when our local paper reported on what our provincial association had to say. To paraphrase they said "Sales are down, inventories are up and we expect prices to keep rising". Are you serious? any math student from junior high would realize this is not the way the world works. With less sales and more inventory that means prices will fall not rise. We have seen a 5% drop since May 1 in REAL Prices. by this i mean by what we are seeing from the high in April to now. Take away the multi million dollar sales and see what really is going on. We show our clients monthly what is happening with our Total Market Overview or TMO reports. We show our clients by price range what happened in last month, last 6 months and what was selling and what was not. To see then click here.

Second, find a realtor who will show you the stats and be real and work for you to get you what your looking for in a home. Remember sometimes what you need and a "good deal" are not the same. We can show you the difference.

So your a buyer, what should you do? A great friend and mentor told me one day a basic about Buyers Markets  - Gary said "Ron its a buyers market for a reason, Buyers should buy!"

So you say well I should wait for the bottom. No one knows where that is. The question to you is are you buying an investment or a home? do you want to make your own payments or your landlords payments? With interest rates on way back down owning a home has been cheap for a while, if you focus on payments. you have to make payments- to a landlord if renting or to a bank if buying. After 10 years what do you have? with a landlord - nothing. With a bank you have paid down the principal of your home. No matter where the market is you will have some equity as you have been making principal and interest payments. If you put mortgage on fast pre-pay; things like one extra payment a year, a principal payment, paying bi weekly vs monthly you can shave years off your mortgage. The question is what if market goes down. Then you don't sell. Or you take advantage and buy up in a down market.

You will always need a home to live in, question is are you creating equity or is your landlord?

If you would like to see some options on how to pre-pay and how to make a good buy in today's market give me a call.

Many people say they have heard about Victoria and wish to visit. Many that I come across have been to Victoria and love it. If that is the case for all of you check out this great video on Victoria and some of the great things to do.

I am proud to have been raised here and have 5 generations before me live and work here. Its a great place to live, a great place to work, a great place to serve (Central Saanich Council ) and a great place to come home to.

As many of you know I travel the world to volunteer and I always look forward to coming back home to the Island.

If you would like to make the island home let me know and we can make your dream come true!

Well i just got back from speaking at the annual CRS Sellabration Conference (Certified Residential Specialist Designation, I am only in Victoria) in Las Vegas. It was a cool 44, Celsius or 112 for my American friends! Learned lots of things to help my buyers and sellers and about markets around North America.

It was interesting to hear the other speakers and hear about market in USA. Did you know that in Las Vegas it is 1 in 4 homes that are in foreclosure and another 1 in 4 that are behind on payments! huge change. in some cities 98% of all business is short sale (means the bank takes less and you can't buy a house for 7 years) or foreclosure sales.

We are lucky in Canada and Victoria, or are we?

Stats as of this am,July 2010 sales month to date, 263. July 2009 sales 933! Ouch there is a change. Last month we saw a 34% drop in activity, this month it could be 50% yet prices aren't moving. Hmm. So houses aren't selling and prices have not changed. What gives or more to the point what has to give? Price. We believe there has been a 5% drop in prices since May 1 and we are likely to see a 10% drop in home prices by the end of the year. So how am i still selling homes? 5 so far this month. its price and staging!

All the marketing in the world will not sell a overpriced home. and all the marketing will not sell a unstaged or messy home. We just listed a home yesterday at 4786spring.com and the owners had spent 2 weeks staging and getting it ready for sale! wow what a job on a great home. But its also in lower priced range that staging is important. Our new clients at 8-949 Cloverdale also spent a week getting their home ready for the market.

In today's rapidly changing Victoria and Saanich Peninsula Real Estate Market you need to price it right (aggressively which means below the last sale price of what just sold if you want to sell. For Sale comparable's don't matter) and stage the home. Put a clean coat of paint on it, declutter, clean and do whatever it takes. Oh and lots of pictures. With 94% of people starting their search on line pictures and floor plans are the key.

Wow, where has the time gone!

my last post was about a week ago. Lots since then.

Traveled by train on Saturday to Comanesti - where I was in October 2009 with Habitat for Humanity. Got to see the finished homes we worked on, dinner with friends and then lunch with the local Habitat leaders on Sunday before a long late train trip home. But it was worth it.

Monday out to the site. Its a different build this year as lots has to be done by contractors. We brought in running water to their home in a small village called Budiea (too bad we can't do the same for some of residents who live in Central Saanich where i am on city council!) and also running a drainage line out to a makeshift septic. The makeover also consists of installing a boiler so that they can have running hot water as well, without having to boil it on stove as they have in past. New kitchen cabinets, a tile backsplash, new paint, new thermopane window and new appliances are also part of the Makeover. A shout out goe to Doug Strong and Doug Gueddes and all their staff at Seafirst Insurance back in BC. Last year when i came back they wanted to do something to help out and they held a Jeans Day every week and if you wore jeans on Wednesday you paid $20 towards the makeover. Some of thier clients got involved and then the owners matched the funds and thus we were able to raise the $7500 that we needed to do the makeover. While working on the site the mother and father are working just as hard doing repairs etc.

On monday I also got to visit last years makeover family who are doing great. they are working and very proud and seem to have a new sense of pride. Its amazing what a new home or new room or just a makeover can do to help a family. The kids are all in school and doing well.

Tuesday I headed back up to Comanesti to surprise them as it was the dedication or in Romanian, Dedicarte' of the homes and the families. Had Florin my local fantastic driver take me up as train would not get me there in time. Met up with Cristinia who took me to site just as makeover starting and surprised them. Especially Gabi Pascal who was up on stage MC'ing event. As soon as Mr. Baciu , President of Board of Directors of Habitat Comanesti and also on Board of Habitat Romania, saw me he dragged me up on stage to be part of event. Great event and the sponsors who supplied the steel from Arcelor Mitel were there as well as Adrian Ciorna President Habitat Romania, Heather Alner from Habitat Europe and Central Asia region and many more. I was introduced by Mr. Baciu to the Mayor of Moinesti, Viorel Illie who talked to me a little about Central Saanich council. Many speeches and blessings by the priests and then a dinner for the VIP's (i somehow was invited to that!).

Next moring a meeting with Mr. Baciu and Cristina on ways that i can help to raise funds for them as its a ongoing issue plus Mr. Baciu wanted to thank me very much for coming back. It was a pleasure and honor for me to be there. I am used to helping build in the Global Village program for Habitat along with local builds but have not been there for a dedication. it was great to see the families and how happy they were to be getting clean homes. I will post more later on how bad some of the situations that these folks came from. My goal is to help raise the $80,000 they need this year for the 4 new homes for some familys that live in one room apartments with 5 kids. If you want to help either email me or go to www.habitatcomanesti.ro/en/donate.html

Wednesday it was back to Brasov and back to work. And of course it was Marys birthday. She is one of local volunteers who along with Sarah and Steffi run the Brasov Children's Hospital Project. It was under Hftn.ro but is now moving out on own as Firm Foundation Romania. One of first goals is to get a sponsor for the diaper program. It costs 12,000 euros or about $15,000 per year and we need a new sponsor to help provide the diapers to the hospital. The government does not do it so its up to the volunteer organization to do so. if you are interested in this please contact me.

Thursday was more work out at the site and getting all the tile installed and the cabinets redone after installed wrong by cabinet folks. Always fun. A bar b que with the local volunteers and some from Sweden finished off the day.

Friday its out to the site for one final time and then more meetings.

Look forward to writing more soon.

As many of you know I head to Brasov Romania twice a year to work. Each trip has been an adventure and this one started before I even left. With the Iceland Volcano there was doubt on whether I would leave. I did. This trip I flew on Lufthansa instead of British Airways which allowed me to be one of first passengers to fly into a very empty Frankfurt Airport.

Usually my volunteer experience starts when I arrive in Romania, but this time it started in the Airport. I always appreciate so much what I have been given but after seeing the hundreds and hundreds of cots in the airport and the food center the airport had set up for those who could not afford a hotel or meal I realized how totally lucky and blessed I am. I only had to spend 12 hours in airport due to delay but that is nothing with some of the folks I had met who were there 3-5 days. Even on the flight over from North America I was talking to guys who had been on business trips and away from families for the same 3-5 days. (thanks Lufthansa for a great trip and great service in getting me on new flight and taking awesome care of me!)

Arrived in Brasov late but all was set up for me where I stay by Sarah who did a great job.

Day 1 started with Mark Biech from Hope for the Nations Romania and an update on the latest for the Foundation and what he is doing. After 10 years here he and Coreen are really doing some amazing things. We talked about the House Makeover that I am doing with him next week, which will be the last. The HFTN group is moving in a bigger and different direction with their plans and work over here. Its exciting and good. Just means that no more makeovers so now to work on different direction for my trips over here. Mark and I talked about some of the different options and I will be working on those.

Then it was dinner with the girls and the kids. On my first trip over here we were lucky to meet some amazing ladies who work in Brasov Childerns Hospital. Recently they have set up thier own Romanian foundation, Firm Foundations Romania, an offshoot of Hope for the Nations Romania. With the change in direction of main organization it was time for the girls to take on the Hospital as a sole project. In addition to the thousands of volunteer hours they spend at the hospital and coordination of volunteers one of the main fund raisers they have to do is to supply the 40,000+ diapers per year. The government does not supply then so the group must raise money each year to do. It costs about 12,000 euros each year minimum or $1,500 per month to buy diapers (they are always looking for a single sponsor to take this on or a group who would do it. if you feel that God is moving you to donate then click here and see what you can do. thanks so much for this!).

Seeing the 3 kids Steffi has adopted or is in process of is always a highlight. Roxi is 7 now and Costel and Beca are 5. Beca is just moving out of 2 year old clothes at 5 now! she is such a delicate little spirit. Always lots of fun to be with them.

Did my first shift of the trip at the hospital yesterday. Wow, it always is so tough yet so rewarding. The first little guy I got to spend time with is handicapped and has 4 fingers on his left hand and on his right hand the thumb and forefinger were one. But what a smile, what a heart. Got him to laugh and smile during the one hour I got to play and hold him before we had to move on to a different room on a different floor. Holding and playing with the kids is always so rewarding, sad, exciting, depressing etc. They are all great kids who just do to circumstances don't have all that the world has to offer. But they have the joy of the Volunteers like Mary, Sarah and Steffi who run the organization and coordinate the volunteers that come here from around the world. I like it because it keeps it real for me. It allows me to remember my purpose here on earth and all that God has for me. Its not about the sales (they are nice as they allow me to bless others) the awards or the position (city council is nice but its hard to work so hard and be attacked by a small minority for doing the right thing. if only those who were in opposition and against all the good that is being done could spend one week, one day, one hour in the hospital, in the village, at farm 11 or farm 10, they would see the pettiness of some of the battles or some of the silliness of the opposition). I am glad to be moving from success to significance ( for more on that check out www.halftime.org )and be able to give back.

Saturday is a new day and I am headed to Comanesti for the night to see my friends who run the Habitat for Humanaity affiliate there (but first its guy day with Costel. He has two sisters and two aunts - too many ladies in his life! - but we do guy day. We have hiked a mountain, ate fast food and more. today will be breakfast and then off to play park and play with some cool riding toys).The gang in Comanesti do amazing work. I was able to work with them in Oct 2009 and they are building many homes for the less fortunate. They have done some innovative things in providing houses for those that would otherwise not be able to afford them. Should be fun to catch up and see what is going on and plan for my fall trip here with Steven, Len and Rob. I am looking forward to introducing them to all the great folks and projects over here.

Someone asked me recently how I am so successful in selling expired listings - homes that had been for sale with others and had not sold.

There is a basic tenant that I try to follow with all my clients. I would rather level with you now than lie to you later why it did not sell.

With expireds I find that they are all really nice folks but that someone had not been as honest or tough with the home as they should be.

When people hire me they are expecting an expert. As it is when you or I go to our Doctors we may not always like what they have to say but its for our benefit. Same thing with my clients and expired listings. People may not want to hear what I have to say on price or condition but if you wish to get your home sold then its like the doctors advice.

A few things that I find that are easy to fix and sell with Expired listings.

1. go in on appointment and then I ask a simple question, "what happened?" I want to hear how it went when listed before and what their expectations are of me.

2. then go and ask you the client on a scale of 1-10 with 1 being gentle and ten being brutally honest how do you want me to be in our meeting?

3. 90% of the time its about communication. They/you did not feel like you were being heard and you did not hear from the realtor

How do I differ on that:

a. i have two great staff members, Julie and Bobbi, who are there to communicate to clients. They and I get feedback from other Realtors and we let our sellers know within 48 hours what the other realtor had to say, good-bad or indifferent

b. 24 hour access to the clients file on all the activity and feedback etc for the client. we give you a special code to allow you to get feedback and see what we are doing when you want

c. individual property websites. This is single best marketing tool and only recently have a handful of Victoria's Realtors copied me on this. We give you your own website for your property. Stats show that it gets 4 times as many hits or views as a Realtor or Company site and it shows up better in a search than the www.mls.ca site. We also promote that listing out to 23 different search engines.

These are just a few secrets to our success in selling homes that should have sold the first time but didn't.

If you would like me to meet with you about your home send me an email at ron@ronkubek.com or call me at 250-6582-5098

There was a great article in the Financial Post by Garry MArr that explains how first time Home buyers can Qualify.

With some markets still rising and two of our banks raising rates its time to be creative. This article talks about options on how to get your mortgage to Quailfy for CMHC coverage.

If you have any mortgage or Real Estate Questions then please give me a call or email me and I look forward to helping.

Take care