It's weird but even though there are news stories everywhere about businesses failing, massive layoffs, real estate prices plummeting and other assorted doom and gloom, Victoria seems to be okay at the moment. Sure there are plenty of storefronts for lease and a few big names have closed their doors (like mega-housewares store Linens n' Things and local landmark Standard Furniture) but people are still buying stuff; the malls are still packed. [While I'm on the subject, how did I miss the golden child of 80s retail going under earlier this year?]
I know at some point the bubble will pop here too, we are already seeing it with housing prices and sales. Our Realtor told us that about 80 Realtors decided not to renew their licenses for November and housing sales are down about 60% -- not to mention some big projects stopping at the hole-in-the-ground stage. One project at Bear Mountain just laid off 65 construction workers ("Merry Christmas").
Of course, it is also possible that my fellow Victorians have their collective heads in their asses. [shrug]
In the meantime, I won't be buying anyone a gift card this season and although I can't commit to 100% handmade this year, several people will be getting handcrafted gifts from me (assuming I can find the bobbin case for my sewing machine).
Showing posts with label realestate. Show all posts
Showing posts with label realestate. Show all posts
18 November 2008
08 October 2008
To Quote Mr. Costanza...
"SERENITY NOW!!!"
What a crappy, crappy day. Today should have been the day we got to walk into our new house but paperwork was missing and, while it is still unclear exactly where along the route the ball was dropped, it means we won't be able to close until tomorrow. Argh. The culprit was the very critical bridge loan papers which provide the down-payment without which title can not be transferred.
After many phone-calls, emails, and some raised voices, we tracked down the paperwork and high-tailed it to the lawyer's office to sign and confirm their faxed receipt on the other end.
We also had to re-schedule the plumber and the cable company and we're going to have to buy some time with the movers tomorrow.
The stress levels in this house are very high right now; I think if things don't move swiftly tomorrow, you're likely to see us on the evening news, camped in front of whatever office is holding up the works, possibly with a moving van full of stuff.
sigh.
30 September 2008
Real estate roller coaster....
All but one of the conditions have been removed on the purchase of the new house (we signed the mortgage papers today); there was a major issue found during inspection and we are hoping that the sellers will meet us half way to solve it.
In the meantime, we are extending the date for conditions to be removed for the buyer of our place to accommodate the time it takes for the bank to process the assessment (done today) but it's basically a done deal.
Soon I might just be able to sleep at night again.
In the meantime, we are extending the date for conditions to be removed for the buyer of our place to accommodate the time it takes for the bank to process the assessment (done today) but it's basically a done deal.
Soon I might just be able to sleep at night again.
09 August 2008
Slight change in plan....
Yesterday, we wiped the stardust from our eyes and took a more critical look at the house we'd talked ourselves into loving so much. We agreed that there were some considerable drawbacks but more importantly, after talking with our realtor, agreed that we would be in a better position to sell our place first then buy.
There are LOTS of places on the market that meet our basic criteria (size/price/location); we've got a mortgage pre-approval that is good through November and even though condo sales have stalled overall, townhouses (entry level family housing) are still selling quickly. Plus, selling first means we won't have to carry some very heavy interim financing charges.
So, now we kick into HIGH gear to get our place ready. That includes letting a professional stager come in and give us a plan for action, though really I'm pretty sure we already know what we need to do -- basically de-personalize the heck out of the place.
The really interesting thing is that another townhouse in our complex, two doors down, just listed. It's one less bedroom, one less level, and about 100 square feet smaller. It's been completely renovated -- much more so than the renos we've done -- and they are asking about $50K more than we were guessing we'd get for ours.
There are LOTS of places on the market that meet our basic criteria (size/price/location); we've got a mortgage pre-approval that is good through November and even though condo sales have stalled overall, townhouses (entry level family housing) are still selling quickly. Plus, selling first means we won't have to carry some very heavy interim financing charges.
So, now we kick into HIGH gear to get our place ready. That includes letting a professional stager come in and give us a plan for action, though really I'm pretty sure we already know what we need to do -- basically de-personalize the heck out of the place.
The really interesting thing is that another townhouse in our complex, two doors down, just listed. It's one less bedroom, one less level, and about 100 square feet smaller. It's been completely renovated -- much more so than the renos we've done -- and they are asking about $50K more than we were guessing we'd get for ours.
03 August 2008
House-hunting begins
So, late last week we finally "hired" a Realtor. On Friday, he sent us a list of 74 properties that matched our criteria which, over the last couple of days, we narrowed down to about 20. Most are 3 or 4 bedrooms and all but one have 2 bathrooms; all are in the $400K-$475K range -- much, much better than the choices 6 months ago.
We drove by those 20 today and brought that number down to 6, one of which we have been inside (an earlier open house). Driving by really helps to have a look at the neighbourhood (and potential neighbours, barking dogs, and so forth) -- we ruled out at least one property this way. It also helps to check the access -- we ruled out another that had a driveway which was difficult to pull into but near impossible to pull out of.
Our favourite, and the front-runner so far, is still the one we saw a month ago. It lacks some storage on the main floor and currently there is a wasp nest under the front stairs, but otherwise seems ideal. It's near Hillside Mall, two blocks from an elementary school, and an easy commute even by bike to campus.
However, there were several properties in Saanich, most near Swan Lake, that were appealing, too. Of course we also saw a listing for a Mill Bay property today.... 3 bedrooms 2 bathrooms on 2.25 acres for $349K (or best offer! FSBO) ....but unfortunately, commuting from Mill Bay is not high on my list.
Now we just have to get inside a few of the others and then put in an offer somewhere!
We drove by those 20 today and brought that number down to 6, one of which we have been inside (an earlier open house). Driving by really helps to have a look at the neighbourhood (and potential neighbours, barking dogs, and so forth) -- we ruled out at least one property this way. It also helps to check the access -- we ruled out another that had a driveway which was difficult to pull into but near impossible to pull out of.
Our favourite, and the front-runner so far, is still the one we saw a month ago. It lacks some storage on the main floor and currently there is a wasp nest under the front stairs, but otherwise seems ideal. It's near Hillside Mall, two blocks from an elementary school, and an easy commute even by bike to campus.
However, there were several properties in Saanich, most near Swan Lake, that were appealing, too. Of course we also saw a listing for a Mill Bay property today.... 3 bedrooms 2 bathrooms on 2.25 acres for $349K (or best offer! FSBO) ....but unfortunately, commuting from Mill Bay is not high on my list.
Now we just have to get inside a few of the others and then put in an offer somewhere!
01 June 2008
How much? For this? Really?
After a quiet morning, we went out looking for open houses to peruse this afternoon. We saw a little bit of everything -- ranging from a low of $409,900 for a ridiculously tiny (786 sq.ft.) 1949 rancher to a high of $1,450,000 (3400 sq.ft.) 1956 home on a third of an acre in Oak Bay.
In fact, when we walked into that house, the first words out of the realtor's mouth were not "hello" or "thanks for stopping in" but instead, "The asking price on this home is one point four five million; if you have any questions, I'll do my best to answer them." The place was clearly professionally staged -- right down to freaking croquet on the back lawn -- but even without the staging, the place felt insincere. I had a good laugh that (a) for all that cash, parts of the basement were still unfinished, (b) the only bookshelf I saw was filled almost entirely with home decorating magazines, and (c) the back yard was pretty much un-landscaped and empty.
Just up the street was a slightly larger home, (4644 sq.ft.) selling for $1,395,000. Thing is, it had been renovated maybe 20 years ago, but it had a much better use of space (despite some headache-inducing wallpaper in the front room), trees in the yard, and it actually looked like a home someone lived in. Oh, and the realtor(s) didn't try to freak us out with the pricetag.
We also looked at one that was waaay up a steep drive and built into the rock (no yard for Kiddo) that was selling for $849,00 (reduced from $929,000) -- you could actually see some of the buildings on campus from the deck.
In amongst the craziness were two that almost appealed to us and one that really appealed to us:
** almost #1: nice little house on too busy a corner $445,900 (reduced from $459,000).
** almost #2: small house with an "unfinished studio" in the back yard, $439,000
** really: (kitty-corner to almost#2), large-ish 1914 house with a separate garage and unfinished basement $479,900 (reduced from $495,000)
Of course, even the appealing ones are more than we would like to mortgage... but the really encouraging thing is that several of the ones we saw today had been reduced. Ahhhh.
In fact, when we walked into that house, the first words out of the realtor's mouth were not "hello" or "thanks for stopping in" but instead, "The asking price on this home is one point four five million; if you have any questions, I'll do my best to answer them." The place was clearly professionally staged -- right down to freaking croquet on the back lawn -- but even without the staging, the place felt insincere. I had a good laugh that (a) for all that cash, parts of the basement were still unfinished, (b) the only bookshelf I saw was filled almost entirely with home decorating magazines, and (c) the back yard was pretty much un-landscaped and empty.
Just up the street was a slightly larger home, (4644 sq.ft.) selling for $1,395,000. Thing is, it had been renovated maybe 20 years ago, but it had a much better use of space (despite some headache-inducing wallpaper in the front room), trees in the yard, and it actually looked like a home someone lived in. Oh, and the realtor(s) didn't try to freak us out with the pricetag.
We also looked at one that was waaay up a steep drive and built into the rock (no yard for Kiddo) that was selling for $849,00 (reduced from $929,000) -- you could actually see some of the buildings on campus from the deck.
In amongst the craziness were two that almost appealed to us and one that really appealed to us:
** almost #1: nice little house on too busy a corner $445,900 (reduced from $459,000).
** almost #2: small house with an "unfinished studio" in the back yard, $439,000
** really: (kitty-corner to almost#2), large-ish 1914 house with a separate garage and unfinished basement $479,900 (reduced from $495,000)
Of course, even the appealing ones are more than we would like to mortgage... but the really encouraging thing is that several of the ones we saw today had been reduced. Ahhhh.
02 May 2008
these thoughts have no common thread
I have been very aware of my dream-state lately -- by this I mean that in my dreams I am aware that I am dreaming. I don't know if this "means" anything and I don't really care much, it's just odd, though it used to happen a lot more when I was younger. The oddest example lately was last weekend where I was dreaming that the power had gone out and thought, "Hmm, I should wake up and check if the power's out." (It wasn't.)
Tonight, Hubby and I are planning to take in two movies in the theatre (one after the other in the same complex) because there are several we want to see... it's been a long while since we've tried to pull that trick (not since the days of going to the Roxy, pre-kiddo). Anyway, we should be taking in one superhero film and one adult comedy; reviews will follow.
Being between terms, the library itself is quiet these days, though there are many changes in the wings for staff so rumors are flying and things could get a bit hairy. I am bracing myself accordingly.
For those of you keeping track, we are still waffling on the house-hunting issue, there are so many factors to consider including the fact that the most recent "average" house price in Victoria hit a new record high of just over $650K (to be fair, the median is somewhat lower at $558K) and we really don't relish the thought of spending over half a million dollars for a house. Sigh.
I did take a peek at this house; the price is a bit higher than we'd like, but the house seemed ideal, until I realized there was virtually no yard, save for a stretch in the front, right along a main road. (It also needs a lot of updating -- the current owners have a style that would send most HGTV hosts into some sort of fit or fugue. In fact, I think there may be Astroturf® in the kitchen.)
Last night I pulled out all my beading stuff, sorted it, then put it away again because I wasn't ready to settle in for a beading session, which usually end up taking me several hours. Still, I was feeling the need to make something, so I whipped up a little "sunny side up" pincushion. While I like the design, overall, I need to work on the detailing.
***
Tonight, Hubby and I are planning to take in two movies in the theatre (one after the other in the same complex) because there are several we want to see... it's been a long while since we've tried to pull that trick (not since the days of going to the Roxy, pre-kiddo). Anyway, we should be taking in one superhero film and one adult comedy; reviews will follow.
***
Being between terms, the library itself is quiet these days, though there are many changes in the wings for staff so rumors are flying and things could get a bit hairy. I am bracing myself accordingly.
***
For those of you keeping track, we are still waffling on the house-hunting issue, there are so many factors to consider including the fact that the most recent "average" house price in Victoria hit a new record high of just over $650K (to be fair, the median is somewhat lower at $558K) and we really don't relish the thought of spending over half a million dollars for a house. Sigh.
I did take a peek at this house; the price is a bit higher than we'd like, but the house seemed ideal, until I realized there was virtually no yard, save for a stretch in the front, right along a main road. (It also needs a lot of updating -- the current owners have a style that would send most HGTV hosts into some sort of fit or fugue. In fact, I think there may be Astroturf® in the kitchen.)
***
Last night I pulled out all my beading stuff, sorted it, then put it away again because I wasn't ready to settle in for a beading session, which usually end up taking me several hours. Still, I was feeling the need to make something, so I whipped up a little "sunny side up" pincushion. While I like the design, overall, I need to work on the detailing.
06 March 2008
this, that and the other...
this: Artist Chris Jordan hurts my brain. He has produced a series called Running the Numbers: An American Self-Portrait which adds a visual component to statistics of consumption. The one that really got me? "Plastic Bottles, 2007" which depicts two million plastic beverage bottles, the number used in the US every five minutes. It's enough to make me want to climb on a soapbox and start pointing at people yelling "WHAT ARE YOU THINKING?" except that eventually I would get around to pointing at myself and then I would really look crazy....
that: Hubby and I have been getting angsty over unfinished projects again... however he has managed to build some really amazing things online this week, and I finally finished putting together the travel colouring kits that I prototyped years ago (when Kiddo was about 2 or 3 years old!) -- one, featuring drawings of my plush monsters, is now for sale in my etsy shop.
the other: the reality of moving must be setting in (not that we have found a place or listed our place, or really even started looking... ) because I am drawn to articles like Prepare Your Home for a Perfect Showing and Chunks of homebuying wisdom from the hive mind, even as I dream almost every night about moving, househunting, renovating, and everything about each of those things that might go wrong. It is not making for restful nights of sleep.
that: Hubby and I have been getting angsty over unfinished projects again... however he has managed to build some really amazing things online this week, and I finally finished putting together the travel colouring kits that I prototyped years ago (when Kiddo was about 2 or 3 years old!) -- one, featuring drawings of my plush monsters, is now for sale in my etsy shop.
the other: the reality of moving must be setting in (not that we have found a place or listed our place, or really even started looking... ) because I am drawn to articles like Prepare Your Home for a Perfect Showing and Chunks of homebuying wisdom from the hive mind, even as I dream almost every night about moving, househunting, renovating, and everything about each of those things that might go wrong. It is not making for restful nights of sleep.
14 November 2007
Afternoon Delight....
So there I was, feeling a little better (i.e. no longer retching) when a little email from hubby pops up in my gmail.... an offering of what we call around here Real Estate Porn.
Yes, it was a listing for a "charming 1935 3-bedroom character home" for $459,000. Which is actually a little below the average cost for the size of the house. Unfortunately the agent listing the home is a serious wanker, to be avoided at all costs.
This of course led me on an hour long wander through more Real Estate Porn courtesy of mls.ca. This 1904 home with a separate cottage may be ready to fall down at any moment based on its $399k price tag (of course it could just be because it's on a busy street)... but it's still appealing. Though what I really crave is a home with mature fruit trees in the yard... like this one for just under $470 or this one (around the same price), which seriously needs some interior design help.
Hubby and I are more than ready to move... the only hold-up is what to do about the bathroom -- do we reno (for about $2,000) and get a higher price or do we say "Yep, the bathroom is a mess, but you get to fix it up to suit your taste," and sell as is? We're leaning toward the latter, as long as we can stage the hell out of the rest of the house. (Yes, I did say "stage" -- I watch HGTV too much.) The next few months should be busy, either way.
Yes, it was a listing for a "charming 1935 3-bedroom character home" for $459,000. Which is actually a little below the average cost for the size of the house. Unfortunately the agent listing the home is a serious wanker, to be avoided at all costs.
This of course led me on an hour long wander through more Real Estate Porn courtesy of mls.ca. This 1904 home with a separate cottage may be ready to fall down at any moment based on its $399k price tag (of course it could just be because it's on a busy street)... but it's still appealing. Though what I really crave is a home with mature fruit trees in the yard... like this one for just under $470 or this one (around the same price), which seriously needs some interior design help.
Hubby and I are more than ready to move... the only hold-up is what to do about the bathroom -- do we reno (for about $2,000) and get a higher price or do we say "Yep, the bathroom is a mess, but you get to fix it up to suit your taste," and sell as is? We're leaning toward the latter, as long as we can stage the hell out of the rest of the house. (Yes, I did say "stage" -- I watch HGTV too much.) The next few months should be busy, either way.
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