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Coast Lifestyles Network Covid 19 Response

Coast Lifestyles Network Covid 19 Response

 

I want to reach out to all of our clients to let you know about our particular response to the present pandemic.  Terri and I are taking our cues from the WHO, and locally, the Coast Garibaldi Health Unit.  There is also a group of local doctors who are posting in the Sunshine Coast Reporter on line page. The latter has been keeping the Coastal public informed with accurate information! Check out www.coastreporter.net and follow the link.  We also have our real estate regulatory bodies,  industry organizations and ReMax Western Canada providing cues on how to interact in person and out in public.

 

  • It is unlikely we will need to meet in person over the next week but, if we do, you can count on Terri and I to be there for you. Just expect an elbow or toe bump in greeting instead of our usual handshake and hug.

 

  • There are many options available to deal with signing documents and viewing homes. Electronic signatures are just fine for anything but actual completion (you will have to visit your notary or lawyer in person)

 

  • Viewing homes by video meeting is another option some folks are using. Don’t be afraid to reach out and ask about a property if you have questions.

 

  • The market seems to be taking this disruption in stride. Prices are stable, and offers are being made.  Folks are completing and taking possession during this time as well.

 

  • There are some amazing deals for financing with 5-year fixed-term rates as low as 2.7%. I have seen 10-year fixed rates being offered in the low 3’s. As strange as it may sound, if you are looking to buy, now is most definitely a time in which you can get excellent financing terms. We will even see a slight relaxation to the Federal Stress Test for mortgage applications that occur on April 6.

 

  • During this unprecedented time, our family is enjoying our self-isolation by catching up on work, honing our hobbies, getting into the garden and enjoying some yoga, meditation and exercising. Without trying to sound patronizing, please enjoy each moment and don’t overlook the positives that this “occasion” can present. I think we all might just surprise ourselves and come out better on the other side of this thing!!!!

 

We will follow up as things change in our effort to keep you informed.  Don’t be afraid to reach out to Terri or myself at any time!

 

Connect with us here or call Russ direct 604-741-7119

Lock and Leave Lifestyle Living at Eagleview Heights Gibsons BC

GIBSONS CONDO & TOWNHOUSE UPDATE for February 2020

 

February sales for attached homes for the whole Sunshine Coast indicate a drop from last year’s total of 13 units to 10 this year. Six of those sales were in Gibsons, of which five were for brand new developments, which are listed here for your information.

 

* Maplewood: 28 townhomes next to the Gibsons Community Centre.
* The Halyard: 12 townhomes & garden suites located between Lower & Upper Gibsons.
* EagleView Heights: 87 condos, garden suites and townhomes with gorgeous views.
* Cote: 4 luxury view condos that overlook Gibsons Marina.
* Touchstone at Gospel Rock: 49 condos and 22 townhomes for sale now, with approximately 350 homes in total to be built in this master-planned oceanfront community.

EagleView Heights

Let’s discuss EagleView Heights because the first Phase is already 80% SOLD!

Eagelview Heights is a new community is in the heart of Gibsons and walkable to all the town has to offer, including Lower Gibsons waterfront and marinas, yet only 7 minutes to the Langdale ferry terminal.

This development offers a variety of settings to choose from including garden suites, townhomes and condos ranging in size from 800 to 2,400 sq. ft. with 85% of these homes boasting beautiful ocean views. Every home is a corner unit with 9 ft ceilings that enjoys a large outdoor patio. Two acres of re-imagined parkland will offer a walking/biking trail to take in the exceptional vistas and build community.

EagleView’s unique “Lock and Leave” lifestyle

EagleView’s new “Lock and Leave” lifestyle has been masterfully designed and built for both mature and new generational homebuyers and is the perfect combination of style and sustainability.

EagleView’s unique layout on the hillside limits each of the 16 three-storey buildings to only six suites, ensuring ease of access and very nice privacy. Amenities at The Eagle Club for all residents include a fully-equipped exercise room, outdoor infinity-edge pool and hot tub, as well as a games room and ample space for social gatherings. Underground parking will offer individual EV charging. Townhomes and garden suites have their own private garages.

Estimated completion for Phase 1 is May 2022, about six months earlier than Touchstone.

There are only two homes left under $1M, plus another 11 homes available out of 63 units in Phase 1. Phase 2 will have another 24 condos for sale starting at $1.3M. Call me for details on those two homes remaining.

Terri, Buyer’s Agent and Sunshine Coast Strata Specialist

As a Buyer’s Agent and Sunshine Coast Strata Specialist, I’d be happy to guide you and represent you in your search for a new home! You will have lots of questions, and I will have or find all the answers for you.

Call or email me anytime for more details about this exciting new development at Eagleview Heights. I would love to hear from you!

Terri Murphy / 604-741-7774 / terri@coastlifestyles.ca / Coast Lifestyles Network
Re/Max City Realty in Gibsons

It’s Tax Time, Canada! What if I get audited about my real estate transactions in 2019?

Did you know that the CRA has created and significantly funded a new Real Estate Task Force to deter tax non-compliance in the real estate market?

You may get audited this year if you come on to the task force’s radar.  Even if you don’t get audited, don’t forget that if you sold your primary residence in 2019 you need to declare that on your income tax filing.
Click here for an informative article by David H. Benarroch and Nicolas Simard at Fasken TaxEd, and links to the Real Estate audit questionnaire and the CRA Real Estate Task Force mission to collect over a billion dollars in additional taxes from Ontario and British Columbian residents.

Detached Home Sales A Bright Spot In February 2020

Sunshine Coast Real Estate Market Update for February 2020

 

Detached home sales continue to make for the most dollar volume for February and 2020 to date! Despite this, the real estate market on the Sunshine Coast was still down from this time last year.

 

Condos and townhome (re)sales continue to be somewhat stagnant with the availability of presale units at Eagleview Height, The Halyard, The Maplewood and Touchstone saturating the attached market.

 

Land only sales are still slow (when has this segment ever been brisk?!), but certain kinds of properties can attract a buyer’s eye.

 

Let’s see how it all breaks down:

Detached home sales

Detached home sales for February were down 25% in dollar volume to $20,300,000 and down 13% in unit sales to 31 units sold.  The sales success ratio (the number of sales versus available inventory) was 11.50% leaving us in a balanced market. Year to date is down 8% in dollar volume to $37,250,000, and unit sales down 5% to 52 units sold this year. Total inventory is 270 homes with the median sale price (what the middle sale was) at $586,500.

Condos and townhome sales

Condos and townhome sales for February were down in dollar volume by 12.5% to $6,100,000.  Unit sales were down 23% to 10 units sold in February. The sales success ratio (the number of sales versus available inventory) was 7.5% leaving us in a buyer’s market.  Year to date was down 23% in dollar volume to $8,750,000, and unit sales dropped 15% to 17 units sold this year so far.  Keep in mind there are some unreported sales happening with the Touchstone project.  Pay attention to Terri Murphy’s blog on our website for details on that project and more.  Total inventory is 132 units available with the median sale price (what the middle sale was) at $549,000.

Land only sales

Land only sales for February were up in dollar volume by 23% to $3,850,000 and unit sales down by one sale to 6. The sales success ratio (the number of sales versus available inventory) was just under 3% keeping this segment of the market in the buyer’s hands. Year to date, we are down in dollar volume by 33% to $4,350,000, and unit sales by 50% top 9 units sold this year. Total inventory is 210 units available with the median sale price (what the middle sale was) at $447,500.