BC HOME GROUP | SHIRIN PUREWAL | VICTORIA REAL ESTATE | info@bchomegroup.ca1-778-401-9545

 
SHIRIN PUREWAL BC HOME GROUP View this email in your browser Victoria Real Estate Newsletter

Hi Everyone,
I hope you and your loved ones are all keeping in these unprecedented times.

This past month has been quite on experience for all of us to say the least! I am thankful for all of you and I want you to know that during these times I am always available to talk. If some of you need support of any sort, please reach out, I am here to listen and provide assistance where I can. I am positive we will preserve through this and we will walk away stronge!

I thought it would be helpful to share with all of you, the latest real estate statistics and guidance we have received related to COVID-19.

Please find the latest real estate statistics this month in the following LINK

For those of you who are homeschooling your children I have a great link in my blog LINK

Clients who have tenanted properties, please read the following information LINK

Please take care as I send you all positive and safe thoughts.

Kind Regards,
Shirin Purewal

Copyright © 2020 Shirin Purewal BC HOME GROUP Jonesco Real Estate Inc., All rights reserved.

Our mailing address is:
201-641 Herald St., VICTORIA BC

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SHIRIN PUREWAL BC HOME GROUP View this email in your browser Victoria Real Estate Newsletter

Victoria real estate spring market will be impacted by COVID-19

A total of 608 properties sold in the Victoria Real Estate Board region this March,five per cent fewer than the 640 properties sold in March 2019 but eight per cent more than the previous month of February 2020. The Sales of condominiums were down 9.2 percent from March 2019 with 178 units sold. Sales of single family homes decreased 5.3 percent from March 2019 with 305 sold.

"Last month, we stated that we saw the spring market kicking off," says Victoria Real Estate Board President Sandi-Jo Ayers. "The start of March continued that trend and we saw higher year over year sales for the first weeks of the month - spring had officially sprung with multiple offers, new listings and sales. And then the world changed. Since the COVID-19 pandemic was declared, we have tracked a predictable downturn of sales in our market. Moving forward it is hard to predict what our spring market will look like, but it will likely be very different than recent years as our entire community slows down to stay healthy." Read More"

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THANK YOU TO ALL MY CLIENTS FOR YOUR BUSINESS - Shirin Purewal

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Testimonials

"Shirin was wonderful to work with. She listened to our expectations for selling, helped formulate a plan and sold our house in record time! We found her very professional!"

- Lisa Sykes

"I've had AWESOME experience working with Shirin as my Realtor. We left our home in Toronto in Dec 2016 and took a bold step in buying a house in Victoria in April 2017 but knew no one here. She communicated with my whole family about differing needs staying in constant contact with important information - both basic and complex stuff. She listened in terms of adapting to our needs from understanding our time frame to giving references/contacts to sharing local knowledge honestly. She is hardworking, technology savy, detailed oriented, tenacious!."

- Anjan Chhetry

Please click here to see more testimonials!

"When it comes to buying, insuring you make the right decision is my priority and I have your long term, best interest at heart. If something is not right for you, I will tell you, straight. When it comes to selling, I take marketing to an entirely new level. Call me to find out how!"
- Shirin Purewal


Copyright © 2017 Shirin Purewal BC HOME GROUP Jonesco Real Estate Inc., All rights reserved.

Our mailing address is:
201-641 Herald St., VICTORIA BC

Want to change how you receive these emails?
Please see link below
 
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A total of 608 properties sold in the Victoria Real Estate Board region this March, five
per cent fewer than the 640 properties sold in March 2019 but eight percent more than
the previous month of February 2020. Sales of condominiums were down 9.2 per cent
from March 2019 with 178 units sold. Sales of single family homes decreased 5.3 per
cent from March 2019 with 305 sold.
 
"Last month, we stated that we saw the spring market kicking off," says Victoria Real
Estate Board President Sandi-Jo Ayers. "The start of March continued that trend and we
saw higher year over year sales for the first weeks of the month - spring had officially
sprung with multiple offers, new listings and sales. And then the world changed. Since
the COVID-19 pandemic was declared, we have tracked a predictable downturn of
sales in our market. Moving forward it is hard to predict what our spring market will look
like, but it will likely be very different than recent years as our entire community slows
down to stay healthy."
 
There were 2,252 active listings for sale on the Victoria Real Estate Board Multiple
Listing Service® at the end of March 2020, 7.5 percent fewer properties than the total
available at the end of March 2019 but a 5.9 per cent increase from the 2,127 active
listings for sale at the end of February 2020.  
 
"Right now, it is not business as usual," adds Ayers. "Our REALTORS® are working to
ensure that services for clients who need them are delivered in a healthy, safe and
secure way. Our industry is working with government stakeholders to make sure that
transactions that were underway before the pandemic was declared are protected and
that homeowners are able to complete sales and purchases. This is a time to ensure
our clients are safeguarded as well as to ensure that our community stays healthy.
Many Realtors are leveraging new technologies including video home tours and virtual
showings. Our message is - if you need us, we are here."
 
The Multiple Listing Service® Home Price Index benchmark value for a single family
home in the Victoria Core in March 2019 was $836,100. The benchmark value for the
same home in March 2020 increased by five per cent to $877,700, 1.1 per cent more
than February's value of $868,100. The MLS® HPI benchmark value for a condominium
in the Victoria Core area in March 2019 was $507,700 while the benchmark value for
the same condominium in March 2020 increased by 4.8 per cent to $531,900, 0.9 per
cent more than the February value of $527,400

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As promised, we are providing industry related updates as the COVID-19 situation unfolds in our community.
 
The provincial government has just announced that they will restrict owner access to tenanted properties. This means that landlords will now need consent of the tenant to show properties (or for routine maintenance). If you have a tenanted property currently listed be aware access to the property for showings can only occur with the consent of the tenant. The prior notice provisions for access in the legislation are not enforceable for property viewings.
 
The government has also announced a halt to evictions. Sellers under existing contracts of purchase and sale for tenanted properties should be advised to seek legal advice concerning the enforceability of any existing Notices to End a Residential Tenancy served upon their tenants, or that are scheduled to be served upon tenants as per existing contracts of purchase and sale. Any seller of a current listing of a tenanted property should be advised to seek advice as to their ability to provide vacant possession at completion. We will have more updates for you as they are available.
 
These measures are temporary and are intended to keep our community safe and healthy.
 
 
From the Province:
 
The Province is implementing a number of additional measures to keep people housed and protect their health. The full list of immediate measures includes:
  • The new temporary rent supplement will provide up to $500 per month, paid directly to landlords.
  • Halting evictions by ensuring a landlord may not issue a new notice to end tenancy for any reason. However, in exceptional cases where it may be needed to protect health and safety or to prevent undue damage to the property, landlords will be able to apply to the Residential Tenancy Branch for a hearing.
  • Halting the enforcement of existing eviction notices issued by the Residential Tenancy Branch, except in extreme cases where there are safety concerns. The smaller number of court ordered evictions are up to the courts, which operate independently of government.
  • Freezing new annual rent increases during the state of emergency.
  • Preventing landlords from accessing rental units without the consent of the tenant (for example, for showings or routine maintenance), except in exceptional cases where it is needed to protect health and safety or to prevent undue damage to the unit.
  • Restricting methods that renters and landlords can use to serve notices to reduce the potential transmission of COVID-19 (no personal service and allowing email).
  • Allowing landlords to restrict the use of common areas by tenants or guests to protect against the transmission of COVID-19.
 
You can find the full release here.
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Episode 3 of Open House by BCREA focuses on the impact of COVID-19 on REALTORS®. Hear from BCREA Chief Economist Brendon Ogmundson about the new Market Intelligence Report exploring the impact of COVID-19 on the BC housing market, and Manager of Professional Services Jennifer Lynch about the changes to Realtors' day-to-day lives and business.
Listen Now
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When it comes to buy home victoria bc contact the BC Home Group to help you. We have a team of experts on stand-by. We can follow up and answer any of your real estate questions. If we do not have your answer we will make sure to guide you in the right directions. Always here to help ! 
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When it comes to victoria bc home prices contact the BC Home Group to help you. We have a team of experts on stand-by. We can follow up and answer any of your real estate questions. If we do not have your answer we will make sure to guide you in the right directions. Always here to help ! 
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When it comes to buy condo victoria bc contact the BC Home Group to help you. We have a team of experts on stand-by. We can follow up and answer any of your real estate questions. If we do not have your answer we will make sure to guide you in the right directions. Always here to help! 
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When it comes to sell my house fast for market value contact the BC Home Group to help you. We have a team of experts on stand-by. We can follow up and answer any of your real estate questions. If we do not have your answer we will make sure to guide you in the right directions. Always here to help ! 
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When it comes to buy house victoria bc contact the BC Home Group to help you. We have a team of experts on stand-by. We can follow up and answer any of your real estate questions. If we do not have your answer we will make sure to guide you in the right directions. Always here to help ! 
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When it comes to remax land for sale contact the BC Home Group to help you. We have a team of experts on stand-by. We can follow up and answer any of your real estate questions. If we do not have your answer we will make sure to guide you in the right directions. Always here to help ! 
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