We are excited to launch a new offering of Westcoast Modern homes by our builder SC Smith Building Co.  New designs that take cues from both contemporary and westcoast influences and complement the energy and lifestyle of Sooke.

New Westcoast Modern Homes at Woodland Creek

Located on lots 11-13 on Arranwood Drive in Woodland Creek, these homes have a long list of features normally only found in custom homes: waterfall kitchen islands, floating ensuite vanity with vessel sinks, wall mounted faucets, flat panel modern cabinetry and more.  Construction has started with the first home available in the summer of 2017.

The Vibe – 3 bedroom, 3 bath plus den 

The Pulse – 3 bedroom, 3 bath plus den

The Aura – 3 bedroom, 3 bath plus den

Fresh interiors

• Two designer inspired color schemes Tempo and Rhythm
• Floating ensuite vanity with vessel sinks and chrome hardware
• 12mm laminate flooring through main floor in wood grain series
• Nine-foot main floor ceiling for airy, spacious feel and crisp, modern painted moldings and trim styles throughout
• Electric fireplace in living room featuring crystal glass set with remote control and electric baseboard for heating
• Pot lighting and unique lighting fixtures throughout interior with USB charger in kitchen island
• Technology proof wiring featuring multiple connection points and central media panel access
• Wood and metal custom stair railings in colors to complement the interior scheme selected

Appealing exteriors

• Two designer exterior schemes Zen and Echo
• Distinct designs capturing cues from modern and west coast features
• Attractive, durable concrete fiber siding, aluminum longboard wood series, laminate roofing and durable products throughout
• Aluminum and glass garage doors with electric opener and two remotes
• Painted or wood front doors with chrome hardware in contrasting colors
• Exposed aggregate driveways and patio, green space and rear property line fencing

Kitchens, bathrooms and laundry

• Modern flat panel cabinetry featuring complimentary colors and dual tone finishes
• Stylish laminate countertops with waterfall edge in kitchen
• Floating ensuite vanity with two vessel sinks and chrome fixtures
• Wall mounted faucet and vessel sink in powder room
• Tile backsplash in kitchen complimenting the design elements
• Six-piece appliance package in white or black including fridge, range, dishwasher, otr microwave and washer/dryer
• Ensuite shower featuring tile walls and glass surround and door and chrome controls and accessories
• Separate laundry room for maximum space and efficiency

The little things

•  Fully heated and lit crawlspaces for warm, dry storage and a minimum of three feet headroom accessed by a large crawl space door
• Fully finished and heated garages including insulation, primed drywall finished electrical
• Two exterior hose bibs, ample lighting around exterior, window screens, window coverings, vacuum rough in and fiber optic media connections standard

The building process

• Full access to our state of the art cloud based management program to keep you informed about your homes progress at every step of the construction process at the click of a mouse
• Site walk through at lockup and at final occupancy to ensure every detail is met and every home exceeds expectations
• Continuous quality control checks through duration of build optimizing every material and process to its fullest potential
• 2/5/10 warranty provided by Aviva on every home
• In house crews complete many of the key elements of the home build to ensure quality, scheduling and efficiency
• Flexibility in mechanical and cosmetic features of the homes to allow new buyers to chose and select many available options and selections with our sales team

For more information contact the sales team at Woodland Creek

Totangi Properties Ltd., SC Smith Building Co.,  and Woodland Creek

Totangi Properties – Celebrating their 49th year in business, Totangi Properties, the developer of Woodland Creek, 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.

SC Smith Building Company – The 2012 Gold CARE Award for Built Green Builder of the Year, SC Smith Building Company is a local, residential real estate contracting firm specializing in distinctive new homes and timeless renovations. By utilizing practical, modern solutions and old world attention to detail and building philosophies the skilled, professional team repeatedly provide a successful building experience for their clients.

Woodland Creek –  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.

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 .

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 .

It always makes our day when we hear back from our customers – in this case our new homeowners Kyla and Derek O’Rourke who built a semi-custom home with us.  Here is what they had to say:

“Words cannot express how happy we are with our home in Woodland Creek. You will not find better quality. The support we received before, during, and after construction was outstanding. They took the time to explain everything in detail and were more than willing to accommodate any and all of our requests. We felt the whole team wanted us to love our house and went the extra mile to make sure it happened.”

Our relationship with Kyla and Derek started when they visited our showhome and met our wonderful hostess Cecile.  Cecile introduced them to our homes, plans, amenities, and different finishing options.  Working together with our design team, Kyla and Derek created their new home complete with all the finishing details, paint colours, cabinets, flooring and room modifications they wanted.  Using our “Bedroom Plus” program they added an additional 4th bedroom to the 3 bedroom Fir plan .  From their initial design meeting with us to the occupancy of their new home, the entire process took about 6 months.

How does this ‘pre-sale’ / custom home process work?

In Kyla and Derek’s case, construction of their new home started about a month after the contract was signed.  The building plans are drafted to incorporate any customer modifications and the building permit application is made.  As construction progressed we stayed in touch with Kyla and Derek and often saw them visiting the site, excited to see their new home take shape.

Customer Experience — It’s important for us that the home buyer is part of the realization of the design and construction process.  We are not ones to take the deposit and say “see you 6 months when the house is complete”.   Once the framing is complete and all the doors and windows are installed (what’s call “lock up” in the industry), homebuyers are invited to conduct a walk through to confirm the location of electrical switches and media / internet connections and make any last minute changes.  Throughout the entire building process the buyer is connected through a cloud base construction management system that allows the buyer to stay up to date on progress with their own personal website portal that includes recent photos, change orders, and direct contact with the construction manager.

Prior to occupancy, in this case just 5 months after the start of construction, an inspection and familiarity tour of the new home is conducted.   We check in with the new homeowner shortly after occupancy as well, to ensure that everything in the home is functioning as it should.  Every new homeowner receives a binder with all relevant new home information and we have a Homeowner Web Portal that contains warranty, operation, and special deal information.  And we don’t stop there!

We believe in continual improvement and the importance of customer feedback so we subscribe to a 3rd party Customer Experience rating system called AVID Ratings. 30 days after occupancy, AVID ratings conducts an independent Customer Experience survey to get the homeowners feedback on everything from the sales process, to the new home features, and after occupancy service. They conduct this process once more at the 1 year mark. We also follow up before the 1 year mark to review any issue that are covered under the new home warranty and  we have a handy Service Request  form on our site should you have any issues in your new home that we are responsible for.

So as you can see, we believe there is a lot more to a new home purchase than just handing over the keys.   Customer Service  is the key to our success and we are honoured to be ranked #1 in Canada by Avid in 2014  for customer satisfaction in the Custom Build / Small Volume category in the residential building industry.

Thanks again to Kyla and Derek for their kinds words – you made our day!

Blair Robertson – co-owner Totangi Properties.

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.

The very cool (or should I say warm) fact about the temperature of the ground just a few feet under us is that it stays a fairly constant 10 degrees Celsius.  So when the air temperature plunges to below freezing, the geo-exchange heat pump systems in our homes at Woodland Creek, just keep plugging away drawing out the solar energy stored in the ground and delivering into our homes at very little cost.

When compared to an equivalent home with electric baseboard heat and electric hot water, energy consumption of a ‘geo’ home during the cooler months of the year (October – March) is cut in half.

What does this translate into in terms of cost savings?  Kyle and Maaike McCooey and their family, homeowners at Woodland Creek, love their geo-exchange heating and cooling.  They live in the 1,950 square foot Fir plan and report that on average their electricity bill is only $70 per month (about 900 kilowatts per month).

Wendy Smith, a Certified Energy Advisor with Victoria based Performance Energy Advisors, completes the energy modeling for Woodland Creek homes.  Her analysis for our Arbutus Plan, a 1770 square foot home, tells us that annual energy consumption is reduced by over 11,000 kilowatts, a savings of approximately $1075 per year (about $3 per day). So not only can you feel really good about reducing your carbon footprint by about 7.5 tonnes per year, but your can also reduce the impact on your wallet too.

Overtime, as electricity costs increase a 25% over the next 5 years, so will your savings with a geothermal system. We think that is a really smart investment in your home, health, and environment.

About Totangi Properties Ltd. and Woodland Creek

Totangi Properties is a locally-owned and operated award winning property development, home building, and land management company established in 1968. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, and are committed to creating affordable, high-quality residential properties and developments 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 .

We hope you have been able to experience firsthand the feeling of a Woodland Creek home: the results of combining the quality craftsmanship of the Built Green Builder of the Year with a professional home and interior design team and experienced developer.  You love the homes, and as great as our community in Sooke is, you have a preferred neighbourhood you want to stay in or live in.  Now you can have the best of both worlds – we can build you an award winning Woodland Creek style home in a neighbourhood of your choice virtually anywhere in Victoria.

With over 12 building plans from ranchers (ranch style) to 4 bedroom homes and several professionally interior design schemes from Nygaard Interior Design, we will likely have a plan that suits your needs and can build it on a lot of your choice.  We take the guess work and risk out of designing and building a home.

Here’s why you should consider this if you’re looking for a new home:

• Stay in your favourite neighbourhood – if there is a building lot available, we can build on it.
• What you see is what you get –  you can view first hand our plans, finishing options, and quality in our showhomes.
• Quality assured by an experienced design – build team – no guess work in choosing a builder.
• Award winning designs and finishes.
• Experience cost savings through proven construction and buying power.
• On time and on budget – we’ve built these homes before and have an accurate budget with a fixed price.
• 2-5-10 New Home Warranty
• Excellent Customer Service – read our testimonials

Here’s how it works:

1.  Contact us to discuss your housing needs and  your preferred locaton.  Choose a house plan and finishing level (classic, premium or custom), and we will provide a cost estimate.

2.  We will work with you and/or your realtor to locate a building lot in your preferred neighbourhood that will suit your selected plan. Or we can custom design a plan to fit your needs and a particular lot.

There are many building lots available in most neighbourhoods. Sometimes they are vacant and in many cases they may have an older existing home on it that must be removed before construction can proceed.

3. Once you have secured a building lot, we will develop a building contract with detailed drawings, cost estimates and construction schedule.

This is a great way to take the guess work out of building a new home.  By being able to see the finished homes completed at Woodland Creek, you can be assured of what the final home looks like and feels like when you walk through it. At the end of the day you will end up with a brand new home with a new home warranty, designed by a professional interior design team and built by the 2012 Built Green Builder of the Year.

So whether it’s in Langford, Gordon Head, Saanich, Victoria, Mill Bay or anywhere else in the area – a Woodland Creek home by Totangi will look great in your neighbourhood. Interested?  Contact us today.

About Totangi Properties Ltd. and Woodland Creek

Totangi Properties is a locally-owned and operated award winning property development, home building, and land management company established in 1968. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, and are committed to creating affordable, high-quality residential properties and developments 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 .

Have you ever sprained an ankle or broken a limb and discovered how challenging it can be to make your way around your home?  Just as young families buying their first home think about how many rooms they will need for a growing family, baby boomers are now thinking about how they will ‘age in place’ in their next home purchase.

We were curious to hear what older people in our community thought about  ‘ageing in place’ so a couple of months ago we invited a number of older couples to a focus group.  They toured our new Woodland Creek homes and we had a discussion over lunch about what older people value in a community, a neighbourhood, and in home design.  It was a wonderful way to spend an afternoon and it was very insightful. I’ll list a few of the outcomes.

• Older people value quality and comfort, they care about the environment and long- term value.  ‘A penny saved is a penny earned’.
• Older people typically make healthy lifestyle choices and wish to remain attached to and involved in a vibrant community – not isolated in a gated community of seniors.
• They are often homeowners looking at relocating and downsizing.  They often have the flexibility to stay in their current home while a new one is built and customized for them.
• They like Sooke because it is close to major shopping destinations and close to a range of health care options. It provides plenty of opportunities for leisure and active pastimes in a place with a small town feel and strong sense of community.
• They liked Woodland Creek because it is a vibrant community with a mix of households from young families to seniors that is close to trails, parks, schools and shopping.
• They like Woodland Creek homes because they are well built with many eco and mobility friendly features and low maintenance yards. They could see there was an attention to detail in the finishing that showed the builder cared. “Old time craftsmanship”

We knew from customer feedback that there were a couple key design features that are attractive for older buyers in Woodland Creek.  Firstly, we have 3 home plans that feature a main floor master bedroom and bathroom. One rancher plan (the Elm) and two plans that have main floor living with 2 or 3 bedrooms upstairs (the Hemlock and Arbutus respectively).  Secondly we have a geothermal heat pump system that uses forced air heating and cooling for better air quality and energy efficiency and the homes are Power Smart.

As we further explored with the focus group what makes a home more accessible and adaptable for ageing in place it was pointed out to us that our homes came with a number of standard features that were helpful for instance:

1. Door handles & bathroom faucets are lever style which make them easy to grip;
2. Rocker type light switches for ease of operation, 3 way switch for convenience in activating lighting as you move through the home;
3. Task lighting in kitchen and drawers in lower cabinets for ease of access;
4. Easy to operate window hardware;
5. Programmable thermostats and built in vacuum rough in;
6. Rough in for security alarm which can accommodate panic alerts in case of emergency;
7. Backing in bathroom walls to accommodate future grab bars;

Of course this was good news to us, because many of these features fit the classification of  ‘universal design’, which means they can be used by all people regardless of ability. The focus group was a productive exercise for us and helped to identify  some of the wants and needs of our ageing population. It also gave us direction for continual improvement in accessible and adaptable design and customer service.

What features do you think should be incorporated into homes to make them more accessible and pleasing for ageing homeowners?  We’d be interested to hear your thoughts.

About Totangi Properties Ltd. and Woodland Creek

Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. Brothers Warren and Blair Robertson and their team work closely with the 2012 Built Green Builder of the Year, SC Smith Building Company, and are committed to creating affordable, high-quality residential properties and developments with lasting homeowner value.  Together they earned the 2014 Avid Diamond Award for the highest customer satisfaction rating for new homes in Canada.

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 Area Housing Market Update Fall 2012

November 28, 2012

Home buyers that stayed on the sidelines this past year will find themselves in an excellent position today to take advantage of opportunities in the local real estate market.  A buyers’ market currently exists with the sales to new listings ratio favouring buyers, but with interest rates at lower than normal levels, employment and migration levels in Victoria on the upswing, and time limited government cash incentives soon to expire, the question on many peoples’ mind is how much longer will these opportunities last?

Today at the Victoria Housing Market Outlook conference,  Canadian Mortgage and Housing Corporation (CMHC) analysts said that continued low mortgage rates, an improving employment situation, and positive migration to Victoria will support a stable and improving housing market for the Victoria area including Sooke and the Westshore into 2013. The Westshore and Sooke communities will continue to see the lions share of growth as new developments offer new home benefits at an affordable price compared to more expensive properties closer to Victoria. Sooke in particular is attracting home buyers that are looking for a more small town neighbourly feel with it’s local stores and ocean proximity over the busier bustling Langford only 20 minutes away.

At Woodland Creek in Sooke, winner of the 2012 Gold Care Award winner for Best New Subdivision and Built Green Builder of the Year, we believe the value proposition for homebuyers is particularly strong.  Last year’s release of new homes on Callumwood Lane combining energy efficiency with Built Green certification in a neighbourhood adjacent to schools, parks, and trails within walking distance of the town centre has received praise from buyers and industry peers alike.

Buyers can get into a new home today loaded with premium features starting a $369,900 net taxes included.  All homes include an individual geothermal heating and air conditioning system valued at $20,000 that will save the homeowner over $1,000 per year in energy costs. Buyers that qualify for the BC First Time New Home Buyer Bonus will receive a $10,000 tax credit until the incentive expires on March 31st, 2013 and there is a further energy efficient rebate from CMHC for qualifying buyers. We think this offers buyers great value with a good selection of home styles and finishes currently available.

Some other interesting observations in the CMHC report that support an optimistic view of the market include:

Average Home Prices – While home prices have gone up and down since 2008, the average price for a single detached home in Victoria today has not changed significantly from 2008. Both average town home and apartment prices have seen recent decreases and larger fluctuations during the same period. Vancouver average single detached home prices increased almost 25% since 2008, primarily driven by international migration demand, and are now seeing more of a downward correction (the media has called this the Vancouver real estate bubble).

Purchase Power – Moderating home prices in 2012 combined with favourable mortgage interest rates has reduced average mortgage payment that is required to purchase the average priced home in Greater Victoria.  In inflation- adjusted terms, the monthly payment associated with purchasing an average single-detached home in Victoria declined 11 per cent between the peak price in April 2008 and the September 2012 price.

Employment – In 2013, the gradual improvement of economic conditions, both locally and provincially will stimulate housing demand through job creation, income and population growth. Employment in Victoria is forecast to expand this year and next, returning to the previous peak level by the end of 2013.

Migration – People coming from other provinces and within British Columbia were key sources of population growth and housing demand.  Net migration to Victoria between 4,500 and 5,300 is projected for 2012 and 2013.

Mortgage Rates – Although there is significant uncertainty, mortgage rates are not expected to change in 2012. Rates are expected to increase in later 2013, but rates will remain low by historical standards. Average 1 year posted rates in the 3-4% range and 5 year posted rates in the 5-5.75% range.

The Answer – So given this information, the question remains – how long will the current buyers’ market last?  CMHC analysts believe that average housing prices in Victoria have now bottomed out and are expected to increase moderately through 2013 driven by positive employment and migration.  Moderate growth in homes sales and housing starts is expected through 2013 so we think there will be a movement from a buyers’ market to a balanced market.

In the shorter term, over the next few months, past experience tends to lead us to the opinion that when we have periods of lower than normal activity such as has occurred this fall, we can expect a stronger rebound in activity in early 2013 to deal with pent up demand.  This occurred both in the spring of 2009 and 2012 with an increase in spring sales and a corresponding reduction in new home inventory.

So in conclusion, we think that if you plan to enter the real estate market soon or are looking at trading up, and you have the financial ability to do so, now is the time to take advantage of a good selection of new homes at very attractive pricing and rebates that will put you in the position to benefit from the market recovery.

The entire CMHC Report can be found at this link.

About Totangi Properties Ltd. and Woodland Creek

Totangi Properties is a locally-owned and operated award winning property development and land management company established in 1968. 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 clock is ticking on the BC First-Time New Home Buyers’ Bonus.  It is a one-time bonus payment worth up to $10,000 for first-time new home buyers in BC, but it expires March 31st, 2013. This means that to qualify, ownership or possession of a new home must be completed before April 1st, 2013.

“We have 4 homes right now that are ready for occupancy and can meet the tight deadline before the expiry of the $10,000 government incentive and this is really the icing on the cake for a first time buyers of a Woodland Creek home,” says Blair Robertson co-owner of Totangi Properties the developer of Woodland Creek, winner of the 2012 CARE Award for Best New Subdivision and Built Green Builder of the Year.    Our homes are Energuide rated +80 which also qualifies them for special financing rebates from CMHC for energy efficient homes.  In addition, the geothermal heating and air conditioning saves home owners over $1,000 a year in energy costs and reduces carbon emissions. We think it is the smartest value proposition in todays real estate market.”

Award winning Woodland Creek homes have also earned the Power Smart designation and are Built Green Certified Gold. All combined, this means new home buyers can be assured they are making a wise investment and one that will have a lasting value when it comes to resale. New homes built by 2012 Built Green Builder of the Year SC Smith Building Co, complete with fenced and landscaped yards and loaded with features start at $369,900 net HST.

Learn how to take advantage of this opportunity by contacting our sales team at Woodland Creek.

Details for the new program are as follow:

ELIGIBLE FIRST-TIME NEW HOME BUYER

You will qualify as a first-time new home buyer if:

• You purchase or build an eligible new home located in B.C.;
• You, or for couples, you and your spouse or common law partner, have never previously owned a primary residence;
• You file a 2011 B.C. resident personal income tax return, or if you move to B.C. after December 31, 2011, you file a 2012 B.C. resident personal income tax return (you will not be eligible for the bonus if you move to B.C. after December 31, 2012);
• You are eligible for the B.C. HST New Housing Rebate; and
• You intend to live in the home as your primary residence.

ELIGIBLE NEW HOME

An eligible new home includes new homes (i.e., newly constructed and substantially renovated homes) that are purchased from a builder and that are owner-built. The bonus will be available in respect of new homes purchased from a builder where:

• A written agreement of purchase and sale is entered into on or after February 21, 2012;
• HST is payable on the home (e.g., HST will generally be payable if ownership or possession of the home transfers before April 1, 2013 – see further details below); and
• No one else has claimed a bonus in respect of the home.

Full details of the First Time Buyers Grant are available at this link.

About Totangi Properties Ltd. and Woodland Creek

Totangi Properties is a locally-owned and operated property development and land management company established in 1968. Brothers Warren and Blair Robertson work closely with a talented team of local professionals and the District of Sooke in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.
For more information, visit www.totangi.ca.