How to Save Thousands of Dollars on your New Home Purchase

Buyers Don’t Pay Property Purchase Tax on New Homes at Woodland Creek 

On February 16th, the BC Government gave buyers of new homes in British Columbia an advantage by exempting them from the Property Purchase Tax on new home purchases.  This regulatory change eliminates the provincial tax payable on real estate transactions in the amount of 1% on the first $200,000 and 2% on the balance, a savings of $13,000 on a new home purchase of $750,000.

All new homes at Woodland Creek in Sooke qualify for the new tax exemption.  With new home prices starting at $389,900, this saves buyers a minimum of $5,000 when making a ‘new home’ purchase in one of Victoria BC’s favourite seaside communities.

Below are some key points to consider:

1. The exemption applies only to newly built homes – not resale homes.

2. There is a full exemption for qualifying properties with a fair market value of $750,000 or less and a partial exemption for qualifying properties with a fair market value between $750,000 and $800,000.

3. The property must be 0.5 hectares (1.24 acres) or smaller.

4. The party claiming the exemption:

a. must be a Canadian citizen or permanent resident.

b. must use the property as a principal residence.

c. does not have to be a first time home buyer.

 

Other Changes to the BC Property Transfer Tax Rate

Another change to the Property Transfer Tax Act is a new tax rate of 3% for properties with a fair market value greater than $2,000,000. The Property Transfer Tax (PTT) is now calculated as follows:

1. 1% of the taxable transaction’s fair market value that does not exceed $200,000.

2. 2% of that fair market value that exceeds $200,000 but does not exceed $2,000,000.

3. 3% of that fair market value that exceeds $2,000,000.

First Time Buyers Exemption 

The First Time Home Buyers’ Program eliminates the amount of property transfer tax you pay when you purchase your first home (new or resale).  The home must be $475,000 or less if registered and be 0.5 hectares (1.24 acres) or smaller

Further Information

Below are some links with further information regarding the qualifications criteria:

1. Frequently Asked Questions about the changes to the BC Property Transfer Tax Act: http://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/understand/exemptions/newly-built-home-exemption#qualify

2. A Guide to the Property Transfer Tax – Newly Built Home Exemption: http://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/understand/exemptions/newly-built-home-exemption#qualify

3. A Table of Property Transfer Tax – Newly Built Home Exemption amounts: http://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/understand/exemptions/newly-built-home-exemption/exemption-amounts

 

About Totangi Properties Ltd. and Woodland Creek

Celebrating their 47th year in business, Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. In 2014 Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC. A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long-term commitment of an established local developer.

For more information, visit www.totangi.ca .

The Qualicum – Master on the Main Arts and Crafts New Home

Main floor living ranks high amongst the retiring baby boomer population and with that in mind we’ve created the Qualicum plan.  A home with a master bedroom and ensuite on the main floor with 2 or 3 extra rooms upstairs has made our Arbutus plan popular with couples looking to downsize in their retirement, but not downsize too much.  We think the Qualicum measures up nicely to meet the needs of discerning buyers looking for a ‘master on the main’ floor plan.

 

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The Qualicum is exceptional, offering a 1764 sq ft floor plan of open design living. “We find some buyers like the convenience and accessibility of main floor living, but want more space than a rancher,” said Blair Robertson co-owner of Totangi Properties. “We designed the Qualicum with this in mind, providing a large master bedroom and 5 piece ensuite with separate tub and shower and double vanity on the main floor and an additional 2 bedrooms, flex room and 4 piece bathroom upstairs. We expect to receive great feedback on this plan from buyers looking at ageing in place.”  The homes feature thoughtfully designed interiors with timeless finishes and features offered in Phase 3C 

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The main floor also features a gourmet kitchen complete with all appliances, soft close cabinet doors and drawers, glass tile backsplash & quartz breakfast bar. Powder room and laundry is accessed off the main hallway and next to the garage entrance. A well planned dining-living room is enhanced with a fireplace with wood mantle and tile surround and vaulted ceiling and access to a sunny landscaped and fenced yard and deck.  All of this in a welcoming community close to schools, shopping and Woodland Creek Park and Playground.

 

Qualicum Blog image

The Qualicum plans are on Arranwood Drive on Lots 26 and 24 in Phase 3C starting at $422,900 net GST included. Built by registered licensed builder, SC Smith Building Company, featuring a 2-5-10 New Home Warranty and supported by the award winning Totangi Properties customer service. Occupancy Fall 2016.

For more information contact our sales team.

 

About Totangi Properties Ltd. and Woodland Creek

Celebrating their 47th year in business, Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. In 2014 Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC. A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long-term commitment of an established local developer.

For more information, visit www.totangi.ca .

Video Walk Through – The 4 Bedroom Fir Plan

new home victoria

January 26, 2016 – – We just had the pleasure of handing over the keys to a new 4 Bedroom Fir plan which is becoming another one of our most popular plans.  This home plan and its details was featured in our earlier post –  The Four Bedroom Fir Plan – the perfect family home.

Just before the new owners arrived for their new home orientation, I had a chance to walk through it to make this video.   These buyers were introduced to Woodland Creek by their Realtor when the home was at framing stage and they were able to arrange for several custom changes that they wanted in their new home.

If you like the look of this, we have more Fir plans scheduled for construction. Contact us for details.

 

About Totangi Properties Ltd. and Woodland Creek

Celebrating their 47th year in business, Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. In 2014 Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC. A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long term commitment of an established local developer.

For more information, visit www.totangi.ca .

 

 

 

Victoria and Sooke Real Estate Market Outlook Fall 2015

October 28, 2015

Last year at this time we questioned if the Victoria real estate market would move in 2015 from a balance position into a sellers market – a market in which demand outpaces supply. The numbers are in and the answer is a resounding yes.

Canada Mortgage and Housing Corp. has just released their Fall 2015 Housing Outlook for Victoria and notes, “Higher sales levels combined with a declining supply of listings moved the Victoria area resale market into sellers’ conditions through the first eight months of 2015 (Figure 4), particularly in the single-detached home segment, where demand has outpaced supply in some centrally- located municipalities.”

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Sales and Prices are Up, Inventory Down:  This year all areas of Victoria have experienced month after month of home sales figures that have continued to exceed last years numbers by about 25%. Hot markets such as Oak Bay have seen median sale prices increase by over 9% over last year with currently only 3 months supply of listing inventory.  In the West Coast community of  Sooke, home sales exceeded last years total numbers by the middle of September with MLS sales up over 46% year to date and with median home prices increasing by over 7%.  However, unlike some core Victoria communities, Sooke is maintaining a good inventory of new and resale homes for buyers to choose from.  CMHC forecasts a continued increase in average home prices in the 2 – 3 % range over the next two years with sales activity to maintain above the 10 year average.

Sales Activity - Victoria 2015

Housing Starts  and the Economy:   CMHC predicts as many as 1,950 total housing starts in the region for 2015, a 50 percent increase over last years starts.  The agency expects that the housing start pace will maintain this level over the next couple of years supported by demand from new and existing residents.  “Demand for new homes in the Victoria area will be supported through the forecast horizon by modest employment and population growth combined with low mortgage interest rates,” says CMHC.

Housing Starts 2015

Household Formation: Household formation creates housing demand.  It is a function of migration into Victoria and general population growth – new families and babies. CMHC says, “Victoria is forecast to benefit from rising net migration and household formation, providing a solid groundwork for local housing demand. As more people move to the area and the employment prospects of younger demographics improve, an average of 2,050 households are expected to be added to the region each year for the next five years (Figure 2), a notable increase over the average of 1,200 new households in each of the past five years.”

Household Formation

In summary, the CMHC report confirms what the everyone has been hearing in the news and at the coffee shop – the real estate market is hopping and the forecast remains strong for the next couple of years.

Highlights from the CMHC Victoria Housing Outlook

  • „„Housing starts are forecast to total 1,950 units in 2015 to meet growing demand from new residents before stabilizing at 1,900 units in 2016 and 1,875 units in 2017 as mortgage interest rates edge higher.
  • „„MLS® sales are expected to maintain a level of activity above the 10-year average in 2016 and 2017 as the economy and employment improve.
  • „„The rental vacancy rate is expected to fall from 1.4 per cent in 2015 to 1 per cent in 2016, as rental demand is forecast to exceed new additions to supply.As new apartments are completed in 2017, the vacancy rate is expected to rise slightly to 1.2 per cent.
  • „„ Economic fundamentals, including employment and population growth, will support a stable housing market through 2016 and 2017.

Blair Robertson – co-owner Totangi Properties and Realtor® Re/Max Camosun Westside www.VictoriaNewHomes.com

About Totangi Properties Ltd. and Woodland Creek

Celebrating their 47th year in business, Totangi Properties is a locally-owned and operated award-winning property development and land management company established in 1968. In 2014, Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC. A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long term commitment of an established local developer.

For more information, visit www.totangi.ca .

The Geothermal Experience at Woodland Creek

Geothermal Drilling at Woodland Creek, Built Green affordable homes in Sooke

As we start construction on the 5 remaining geothermal lots at Woodland Creek in the town of Sooke, a waterfront community close to Victoria BC, we can truly say that the innovative approach we took to new home construction has paid off.  It has paid off for the homeowners, the environment, the community, and our employees and trades.

Homeowners that purchased the first new homes 4 years ago were risk takers.  As early adopters they were willing to try something relatively new. While an established technology elsewhere in the world, individual geothermal or geoexchange systems for single family homes was fairly new to Vancouver Island and definitely a first in Sooke.  These homeowners have now benefited from lower energy consumption (over $1,000 per year) and a cleaner, greener, and healthier living environment.  Their investment in a geothermal home will increase their resale value and will continue to pay financial and environmental dividends into the future.

The community of Sooke and environment have benefited from a leading edge residential subdivision with a smaller carbon foot print.  With an average reduction in energy consumption of about 11,000 kilowatts per home, together each year, homeowners in the subdivision have consumed over 300,000 kilowatts hours less in energy and reduced carbon emissions by 210 tonnes.  Imagine that in 10 years the subdivision will have saved 3 million kilowatt hours of energy – that’s 3 megawatts!

Our employees and participating trades have had a long term education in new technology and building green.  By using the geothermal systems and employing Built Green accreditation and Energuide rating along with waste reduction, sorting, and recycling, everyone one has been part of a journey of continual improvement.  We continue to see this with our team as we adopt new building techniques, use new materials, and adapt to the introduction of the new building code.

We took a risk as a developer to invest in an expensive geothermal project, but we think we have achieved a triple bottom line return socially, environmentally, and financially – and that’s made it all the worthwhile.

Here’s a look back at the start of it all….

 

Here are 5 key benefits of a Geothermal System.

Lower Operating Costs – Because geothermal systems operate more efficiently than ordinary heating and air conditioning systems, annual operating costs are in the range of 30% to 60% lower then other heating and cooling systems. Geothermal operating costs are approximately 1/4 to 1/3 of electric baseboard heat.

Environmentally Friendly – Geothermal systems eliminate the combustion of fossil fuels on site and dramatically reduce the need to generate power – thereby lowering emissions of greenhouse gases and the environmental damage associated with non-renewable resource extraction.

Comfort – Because geothermal systems use the relatively stable temperature of the earth as an energy source, you are assured of constant, even heating in winter and better humidity control in the summer. Geothermal systems eliminate the need for exhaust venting, reducing the number of penetrations in the building envelope and improving weather tightness.

Safety – No flame, no flue, no odours, no risk from carbon monoxide. Just safe, reliable operation year after year.

Quiet – The completely self-contained indoor equipment does not need a noisy, unsightly outside condensing unit. Geothermal systems are quiet and discrete. Other than the lower energy bills, you will hardly know they are there

For more information about new Geothermal Homes at Woodland Creek contact us here.

 

About Totangi Properties Ltd. and Woodland Creek

Celebrating their 47th year in business, Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. In 2014 Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC. A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long term commitment of an established local developer.

For more information, visit www.totangi.ca .

The Four Bedroom Fir Plan – a perfect family home in Beautiful Sooke, BC

If you have been looking for a new craftsman built Arts and Crafts home with 4 bedrooms, a fully landscaped and fenced yard, featuring the most energy efficient heating system available, professionally designed interiors, and a new home warranty? Look no further, the 4 bedroom Fir plan located in friendly Woodland Creek in beautiful Sooke, British Columbia checks all the boxes.

new home victoria

The 4 Bedroom Fir Plan at Woodland Creek

The Fir plan ranks as one of our most popular home designs we offer.   The same year Woodland Creek received the Gold Care Award for Best New Subdivision, the 3 bedroom Fir plan received the Silver Care Award for Best Spec Home under 2,500 sf.

The Fir plan offers 4 bedrooms plus den and 3 bathrooms on 2 levels on desirable Callumwood Lane in Woodland Creek.  It provides  2,028 sq ft of exceptional living: Geothermal Heat, A/C & Hot Water means lower energy costs saving you well over $1,100 per year.

A well executed floor-plan that accommodates today’s lifestyle & indulges the need to be connected, an open design main featuring; laminate floors, smart Kitchen design complete with a full appliance allowance and quartz breakfast bar.  Glass french doors open to a den to accommodate an office or media room. The living room with fireplace opens on to a concrete patio and easy care back yard.

4 Bedroom home Victoria British Columbia

Walk upstairs to four bedrooms.  A spacious master bedroom with large walk in closet and 6 piece ensuite with double vanity offer a private space for parents.  Three more good size bedrooms and a 4 piece main bathroom and separate laundry room complete the upstairs.

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The Master Bedroom in the Fir

Located just minutes to shops, next door to Ecole Poirier (K-5) and Journey Middle School (6-8), and adjacent to Woodland Creek park and trails.

The next Fir plan builds will be offered in the upcoming release of the Ridge Lots in the Spring of 2016.

This video tour is of the earlier completed 3 Bedroom Fir plan featuring some optional upgrades.

 

About Totangi Properties Ltd. and Woodland Creek

Celebrating their 47th year in business, Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. In 2014 Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC. A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long term commitment of an established local developer.

For more information, visit www.totangi.ca .

West Coast Living, Small Town Charm in Sooke’s Award Winning New Home Development – the New Renfrew Plan

The New Renfrew Plan

Gazing out the bedroom window of the new Renfrew plan you might see bald eagles perched high in the tall fir trees, view horses walking the trails, or children running in the playground of Woodland Creek park.  The Renfrew is a new 3 bedroom plus den 1,877 square foot plan located on upscale Callumwood Lane in Woodland Creek directly across from the the park and just steps to the local elementary and middle school in Sooke.  It is the latest new home plan from the award winning developer and builder team of Totangi Properties and SC Smith Building Co.

New Home Floor Plan Sooke BC

The Renfrew Floor Plan

 

The Renfrew, is a spacious 1,877 square foot home offering quality craftsmanship and professionally designed interiors.  Walking in the front door and past the foyer and den,  you are greeted by a sizeable great room that features a large living and dining area, fireplace, and gourmet kitchen. Walk out to a sunny patio and fully fenced and landscaped yard. Upstairs you’ll find a cozy reading nook, a large private master bedroom with 5 piece ensuite bathroom with heated tile floor and walk in closet plus 2 more bedrooms and 4 piece bathroom and side by side laundry room.  A large powder room and mud room are accessed off the great room and garage.  This a great home for families with room to grow.

While this home has been sold, we will have another Renfrew plan built on Lot 25 3C for a August 2016 completion.

New Homes Sooke British Columbia

Views from the new Renfrew Plan towards Woodland Creek park and new homes under construction.

 

About Totangi Properties Ltd. and Woodland Creek

Celebrating their 45th year in business, Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. In 2014 Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC. A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long term commitment of an established local developer.

For more information, visit www.totangi.ca .

New Sales Centre Opens at Woodland Creek – Sooke, British Columbia

February  11, 2015 – Sooke BC.

We are excited to announce the opening of our new sales centre at Woodland Creek on Sunday, February 15th between 1-4 this coincides with the launch of our new relationship with Re/Max Camosun Westside as our real estate services partner.

The new Sales Centre is located on Callumwood Lane in Woodland Creek  across from Woodland Creek Park and Playground, the new purpose built sales centre is the starting point for your on-site introduction to our award winning new homes.

Let our knowledgeable sales team show you the unique differences that set us apart from the  ‘new home’ crowd.   As a multiple building and development award winner and the 2014 recipient of the Avid Diamond Award #1 in Canada for Customer Experience, we think it is fair to say you owe yourself a visit to Woodland Creek before you make your next home purchase.

New Lots –  In response to market demand we’ve opened up another 26 single family lots adjacent to Woodland Creek Park and next to Ecole Porier and Journey Middle School.  Parkside and mountain view lots are available.

Customize your New Home.  We are excited to be building several homes through our pre-sale program that gives buyers the opportunity to customize their new home with personal selections of building plans, interior finishes, landscape treatments, and custom enhancements and upgrades.  Don’t wait to see what’s on the market when your ready buy — with the pre-sale program you plan ahead and see your new home take shape before your eyes and take occupancy in as little at 6 months.  How does it work? Read this Blog about Kyla and Derek’s Awesome Home Buying Experience. 

We look forward to seeing you soon. Click here for Directions.

Best regards,

Blair Robertson, Bruce MacMillan, and Cecile Bowie- Harland

Contact us for more information.

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About Totangi Properties Ltd. and Woodland Creek

Celebrating their 45th year in business,  Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. In 2014 Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings.   Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC.  A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long term commitment of an established local developer.

For more information, visit www.totangi.ca .

Is the Victoria Real Estate Market heading towards a Sellers Market? – Victoria Real Estate Market Update – Fall 2014

Victoria Area Housing Market Update Fall 2014 – With a Sooke Footnote

November 26, 2014

It is no secret that the real estate market in the Victoria area has been much more active this year. Homes sales are exceeding last year numbers, and listing inventories have shrunk. These conditions have put us squarely in a Balanced Market territory with sales to active listings ratio in the range of 15 to 20 percent. In a Balanced Market, home prices remain relatively stable and there is a reasonably good supply of homes in the market for buyers to choose from (at least 5 months worth of supply). That being said, with economic, job and immigration forecasts improving for 2015 through 2016, it is reasonable to question whether the Balanced Market may move to a Seller’s Market in the near future.

At a recent Victoria housing conference, Canadian Mortgage and Housing Corporation (CMHC) analysts predicted that current economic forces will support a stable and improving housing market for Victoria, including Sooke and the Westshore. The BC economy is forecast to expand by approximately 3% in each of 2015 & 2016. US economic growth coupled with a lower value Canadian dollar will grow BC exports. Locally Victoria’s economy will also benefit from increased tourism driven by a lower Canadian dollar, higher consumer spending, and regional infrastructure projects. Moderate growth in homes sales, housing prices, and housing starts are expected through 2015 & 2016.

So are we entering a Seller’s Market? Seller’s Markets are categorized by limited inventory and upward pressure on home prices often experienced when sales to active listing ratio exceeds 20%. Increased MLS sales and reduced inventory this fall have had the Victoria market peaking into Seller’s Market conditions, and the expectation from this writer is that this trend may continue somewhat into the spring market of 2015.  This will be driven primarily by increased housing demand without an equal increase in housing supply in the short term.

With positive economic factors in sight, what might put the housing market in check?  The answer, as always, is affordability and ultimately mortgage rates. Each year we have been told by experts to expect mortgage rates to remain stable but be prepared for increases and this year’s message was no different. Mortgage rates are currently at historic lows, but the average of private sector forecasts predict that rates are expected to increase in the second half of 2015. This rate increase will have a dampening impact on housing demand and affordability. So while we may move into and remain in a Seller’s Market in the short term, mortgage rate increases will likely moderate prices and sales in the longer term leading us back to a Balanced Market.

The Sooke Experience Footnote

Like the rest of Victoria, Sooke has experienced the busiest fall for real estate sales since 2010. At Woodland Creek, we have sold out of our new home inventory and have been working with buyers on pre-sales for delivery in 2015.  Sooke continues to attract buyers that appreciate the lower home prices, but are also attracted by the small town feel on the west coast close to the amenities and shopping of Langford and Victoria.

Our recent experience is that savvy and more experienced buyers in the housing market are recognizing the advantage of ‘pre-purchasing’ a new home that they can move into in about 6 – 9 months. These buyers have taken the risk out of entering a 2015 Seller’s Market and instead of having to choose from what happens to be available in the market, they have locked into the certainty of a fixed price pre-sale. They have ordered exactly what they want in their home from the floor plan, lot location, interior and exterior finishing, and any special extras. In a sense, these buyers have greater control over their housing purchase and achieve a custom home experience without a custom home price.

We are also seeing an up tick in more mature buyers cashing out of condo’s or townhouses in town and moving into single family homes with ‘master on the main’ or one level accessible living.  Many of these buyers started their lives in smaller towns and again are attracted to Sooke as a nice friendly place to retire.

 

Blair Robertson – co-owner Totangi Properties and Realtor® DFH Real Estate www.VictoriaNewHomes.com

 

About Totangi Properties Ltd. and Woodland Creek

Celebrating their 45th year in business, Totangi Properties is a locally-owned and operated award-winning property development and land management company established in 1968. In 2014, Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC. A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long term commitment of an established local developer.

For more information, visit www.totangi.ca .

Parkside and Mountain View Lots available now in New 26 Lot Phase at Woodland Creek, Sooke BC.

Well its been an exciting summer for us as hot on the heels of taking the top prize for new home customer service in Canada, and a buoyant real estate market, we are launching our offering of new homes and schemes in our latest phase of 26 homes in Woodland Creek. With a full offering of new lots, early buyers will be able to choose home locations with sunny south facing parkside lots or take advantage of upper road elevation with views of the mountains and valleys.  New homes start at $359,900 net GST included.

We are excited to launch this next phase homes with the completion of our popular Arbutus floor plan complete with new exterior and interior finishing schemes.    As a multiple award wining plan, the Arbutus continues to wow home buyers with its spacious master bedroom suite and den on the main floor plus an additional 3 good size rooms upstairs.

Video Tour of an earlier completed Arbutus Plan

A bright modern kitchen complete with stainless steel appliance package and upgraded quartz counter tops complements the living and dining area with a vaulted ceiling and sliding doors off to the patio and landscaped backyard.  The new Driftwood scheme from Nygaard Design  introduces classic white shaker cabinets to modern tile and quartz combinations. This home has achieved Built Green Gold and a Energuide Rating of 83 with a new mini split ductless heat pump system that quietly delivers heating and air conditioning and while saving homeowners hundred of dollars a year in energy costs. Frankly, it must be heard and seen to be believed.

Join us during our open house times to view our homes and explore the Woodland Creek neighbourhood.  Like many other satisfied buyers you might choose to make the exciting leap to work with our design team in creating your new home. Start now and you could be moving into your new home in only 6 months. Read about how Kyla and Derek’s  removed the mystery and uncertainty of house hunting  by ordering a new home in Woodland Creek.

 

Fall 2014 Open House Launch

The Driftwood Interior Scheme used in the new Arbutus Plan

REGISTER HERE TO STAY INFORMED ABOUT NEW OFFERINGS AND DEALS

 

About Totangi Properties Ltd. and Woodland Creek

Celebrating their 45th year in business,  Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. In 2014 Totangi was ranked #1 in Canada for Customer Satisfaction by Avid Ratings.   Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

2012 Gold CARE Award winner for Best New Subdivision, Woodland Creek is a residential neighbourhood of new homes in the heart of Sooke, British Columbia – a waterfront community near Victoria BC.  A planned residential community, Woodland Creek was designed with the objective of providing a wide range of new housing opportunities for the community; close to schools, parks and the Sooke shopping and service core with the fundamental commitments of quality construction, lasting value and the long term commitment of an established local developer.

For more information, visit www.totangi.ca .