Greater Victoria Neighbourhoods - Cook Street Village

Cook Street Village is a vibrant, pedestrian friendly community which prides itself for its uniquely varied storefronts and heritage homes with their pitched rooflines, bay and oriel windows and traditional cladding. Like Oak Bay, it is a single-corridor community. It extends through five blocks of Cook Street: The north half (Oscar to Oliphant) is commercial in character and anchored by two major food stores and an eclectic mix of small businesses. The south half (Oliphant to Leonard) flanks Beacon Hill Park and features beautiful heritage homes along with one of Victoria’s most distinguished heritage apartments; Hampton Court.

The street’s small-town atmosphere with its wide corners and boulevards full of chestnut trees, and its proximity to both the ocean and the downtown core makes the area surrounding The Cook Street Village one of Victoria's most sought-after locations for both renters and home buyers. In fact, the Cook Street "Corridor" from the village to Fort Street contains a higher concentration of rental accommodation than any other area in Greater Victoria.

Even though the city has required new developments to provide adequate parking, finding a spot to park your car is a challenge. However, you won’t mind parking on a side street and walking because Cook Street Village’s shopfronts, open markets and outdoor restaurants are best enjoyed on foot.

A great opportunity to live in this prime area, Cook St Village and Fairfield, please view my listing at 634 Cornwall Street,
http://janelogan.com/listing2.html…

References:
https://www.victoria.ca/…/neighbourhoods-cook-st-village.pdf

Langford Sued for Giving OK to Building That Didn’t Use an Architect

The Provincial Architects Act prohibits a person other than an architect from designing an apartment with five or more dwelling units. That’s the basis of the lawsuit against the city of Langford and it’s chief building inspector Jerry Worobec by the Architectural Institute of BC.

The Institute wants to see a declaration from the court that the decision to issue the permit was unreasonable because the drawings submitted “were not in compliance with a provincial law [the Architects Act] relating to the safety of buildings,” and “were prepared by an unlicensed person who provides design services, not an architect, contrary to the Architects Act.”

Langford Mayor Stew Young was outraged when he learned about the lawsuit.
The municipality’s currently is only responsible for making sure a building is up to code, not to be a gatekeeper for a private professional organization.

“They want to get municipalities to do their enforcement. They’re the ones making the money, but (we’re being asked) to do the enforcement for no money,” Young said.

Reference: https://www.timescolonist.com/news/local/langford-sued-for-giving-ok-to-building-that-has-no-architect-1.23853919

Choosing the Right Neighbourhood in Greater Victoria

New to Victoria?

It can be a daunting task to decide where you want to settle. Here are four tips to help you make your final decision on where to live a bit easier:

Contact the municipality

Municipalities have plenty of information on hand including brochures and booklets containing the locations of colleges, libraries, ambulance stations, hospitals, parks and transit stops. They will help you locate community amenities such as recreation centres, swimming pools and ice rinks, and they will inform you on the programs they offer.

Call the local police and fire departments

Ask about response time to emergencies and the locations of their service stations.

Contact local school boards

The School Districts will be happy to give you information on the locations of elementary and secondary schools within their jurisdictions. Take the time to mark the routes your children would take to their school(s).

Talk with a Realtor®

I can offer you general advice and information on many of the above topics. Realtors® have access to the Multiple Listing Service® (MLS®) and can provide you with a customized list of properties available for sale in the neighbourhood of your choice. I would be honoured should you choose to work with me.

Reference: https://www.vreb.org/resources/view/27-picking-the-right-neighbourhood

Do You Enjoy Volunteering?

Swan Lake Nature Sanctuary is looking for Summer Naturalist Assistants to connect with nature and children to help create a welcoming, safe and fun learning environment where you and the children will discover the many living things that call the Sanctuary home. Contact jdawson@swanlake.bc.ca or 250-479-0211 ext 1010.

Threshold Housing Society is looking for help to garden and pick-up/drop-off donations.
If you are interested email assist@thresholdhousing.ca today!

Dragon Boat Festival is seeking a team of volunteers for this year’s Victoria International Dragon Boat Festival (Aug. 9-11). Go to victoriadragonboat.com to complete your application or contact volunteer coordinator Brittany Nostadt at brittanyn@fgpaddle.com. Phone: 778-432-3472.

Saanich Peninsula Hospital needs Volunteer Activities Assistants to help staff with activities offered to the extended care residents such as bingo, yoga, gardening, outings and crafts, and to provide companionship to residents who will benefit from extra attention.
Contact: Lindsay Meissner 250-652-7519.

Saanich Strawberry Festival needs a Strawberry and Ice Cream Server on Sunday, July 7. You will be helping a crew of 30 serve more than 3,000 servings in under two hours, so be prepared for a great deal of scooping and serving. Volunteers get to enjoy some free strawberries and ice cream at shift’s end.
More information on this and other positions contact: Gaileen Flaman 250-475-5502.

Victoria Cool Aid Society is looking for volunteers to help in their day services area to hand out hygiene supplies and towels, make coffee, sign folks in and out of showers and assist in the clothing donation room.
Contact: Michelle Latour 250-383-1951 Ext. 4.

Free Bus Passes in Victoria!

If you’re 18 or under and live in the city of Victoria, you’ll be able to ride the bus for free starting this September. The Victoria Regional Transit Commission voted Tuesday to approve a City of Victoria motion to provide free transit for all youth who live at an address in the city.

Currently, a monthly youth pass costs $45 which means families will be able to save up to $540 per year per kid.

Encouraging kids to use public transportation is a good idea since 70 per cent of all daily trips in the region take place in a vehicle according to a 2017 study conducted for the Capital Regional District.

Reference: https://www.timescolonist.com/news/local/free-transit-ok-d-for-youth-living-in-victoria-starts-in-september-1.23852759

Slower Housing Sales and Competing Mortgage Brokers Lead to Low Mortgage Rates.

Canadian homebuyers are being offered some of the lowest mortgage rates seen in years as lenders battle to drum up new business.

The standard five-year fixed-rate mortgage rates have fallen to their lowest level in two years which means borrowers just about everywhere across the country can take their pick of offerings well below three per cent according to Ratehub.ca – a website with the stated mission to help Canadians make smarter financial decisions.

Lenders are offering five-year fixed rates as low as 2.64 per cent for certain buyers, and even higher-risk borrowers may be able to find a loan for 2.89 per cent. These are the lowest range since the summer of 2017.

Lenders finance fixed-rate loans based on the rates they can get in the bond market. Essentially, they'll borrow money themselves at one rate, loan it out to a borrower at a higher rate and make money on the spread. The yield on a five-year Government of Canada bond dipped below 1.3 per cent this month. If a lender can borrow funds for as little as 1.3 per cent then turn around and make money by loaning it out for twice that rate, they have every incentive to keep offering those deals.

The Stress Test is Here to Stay

Evan Siddall, chief executive officer of Canada Mortgage and Housing Corp. has become a passionate defender of the tougher mortgage qualification rule because he felt no one else was publicly standing up to support the federal program against criticisms from groups working in the real estate sector. He claims Canada would need a “calamity” in the housing market to warrant adjusting the mortgage stress test, which is helping affordability.

Reference: https://www.theglobeandmail.com/business/article-easing-the-mortgage-stress-test-would-increase-debt-bump-housing

More Details for First-Time Home Buyer Federal Incentive

The new federal incentive for some first-time home buyers, for which CMHC would provide up to $1.25 billion in interest-free loans over three years, will launch in September.

First-time home buyers taking advantage of the incentive to supplement their down payment will share any increase in value with the government when the house sells. They will have an option to buy out the government earlier if they choose. They would have to repay the government after a maximum of 25 years if the house is not sold.

Will CMHC Insure mortgages beyond 25 year?

Not Likely.

When asked by an audience member for his views on the prospect of extending amortization terms on CMHC-insured mortgages beyond 25 years, to 30 or even 50 years, Mr. Siddall, chief executive officer of Canada Mortgage and Housing Corp. responded bluntly: “If you extend amortization, you’re increasing demand and increasing debt. So, you know my answer: I think it’s dumb,” he said, adding, “Fifty years is dumber than 30.”

Reference: https://www.theglobeandmail.com/business/article-easing-the-mortgage-stress-test-would-increase-debt-bump-housing

Want to Volunteer for a Meaningful Organization?

Put your professionalism and enthusiasm for a better world to work by volunteering for one of these organizations. They’re looking for help, and they need people like you to keep doing what they do best!

The Victoria Stroke Recovery Association provides weekly programming and activities that are designed for stroke survivors and their caregivers. They are looking for a treasurer and secretary who would be required to attend their weekly Friday meetings.
Contact: Karol Sanderson 250-383-4865.

Victoria Women’s Transition House Society is seeking board members. Successful candidates will bring knowledge and experience to the board in one or more of the following areas: governance and fiduciary oversight, legal practice, policing and law enforcement, outreach and advocacy, strategic thinking and business planning, building and nurturing relationships.
For more information contact: Heidi Gayleard board@vwth.bc.ca

The Victoria Brain Injury Society is looking for enthusiastic and compassionate people to assist with their Thursday night yoga group and their Thursday afternoon art group. If interested, go to vbis.ca/volunteer-opportunities to fill out an application form.
Further inquiries can be directed to volunteer@vbis.ca

YMCA-YWCA Vancouver Island is looking for a Volunteer Group Fitness Instructor — Senior Strength Downtown Victoria YMCA-YWCA. The volunteer designs, modifies, and instructs safe, effective and appropriate fitness programs to meet the needs of members, community and special populations in a group fitness setting.
For more information or to apply contact: hr@vancouverislandy.ca

Victoria Symphony’s behind-the-scenes production for Victoria Symphony Splash. The production team makes sure everything on site is set up and taken down, from carrying folding tables, to setting up tents, to bringing food to the barge.
For more information on this and other volunteer opportunities contact: Meg Monteith 250-412-1983.

Vancouver Island Local History Society needs a Garden volunteer for Gardens at Point Ellice House. Volunteers are central to operations at Point Ellice House Museum and Gardens. Volunteers create memorable experiences for visitors to this special place. At the direction of head gardener, volunteers assist with care and maintenance of the gardens/grounds.
Contact: Kelly Black 250-380-6506 or Volunteer@PointElliceHouse.com

Royal Jubilee Hospital is looking for musical entertainment —- piano, flute, guitar, etc. Do you play an instrument? Would you like to interact with patients in a healthcare setting, while practising your instrument? VIHA is looking for volunteers who will play relaxing music on the nursing units. The goal of this new program is to enhance patient care and patient experience.
Interested? Contact Ming.Deng@VIHA.CA

Indigenous Perspectives Society wants volunteers for National Indigenous Peoples Day, June 21, on the traditional lands of the Teechamitsa Family, the Songhees Nation and the Esquimalt Nations. Volunteers can register online.
For more information contact: Michele Oatman 250-391-0007, ext. 221.

Victoria is an Excellent Place to Purchase Real Estate

MoneySense ranked the top 35 cities to buy real estate in Canada for 2019, and Victoria BC came in at 4th place. That’s no surprise to those of us who live here!

Their criteria included value and affordability, momentum of price appreciation over other communities, and the expert insight of Realtors® who reported on living desirability.

This is a link to their resulting statistics. https://www.moneysense.ca/spend/real-estate/35-top-canadian-cities-to-buy-real-estate-2019

Housing for Seniors

Nineteen per cent of B.C.’s population is 65 years old or older, according to CMHC. That number is expected to increase by 600,000 to 25 per cent by 2036. The rapid growth in the numbers of our elders has made it vital for housing to be built to accommodate them.

So, it is a good sign that for the first time in seven years, the vacancy rate for seniors’ housing has improved compared with the previous year. On the Island, the vacancy rate for standard spaces improved to five per cent from 3.3 per cent in 2018. Greater Victoria’s rate improved to 6.3 per cent from 3.5 per cent.

(Photo: Victoria's skyline. Photograph By DARREN STONE, TIMES COLONIST)
Read the full Times Colonist article: https://www.timescolonist.com/business/b-c-seniors-housing-vacancy-rate-rises-1.23843892

It's Vital to Price Your Home Accurately

In today’s market with prices falling slightly, but demand high, it’s important to have an expert Realtor® help you to properly price your home right from the start.

Homeowners who make the mistake of overpricing their homes may eventually have to drop the price.

When potential buyers see the price drop and/or the length of time the home has been on the market, it leaves them wondering if the price drop was caused by something wrong with the house. Nothing is wrong; The price was just too high.

Call me to receive an assessment of the value of your home before you list.

Quick Review of Benchmark Prices in Greater Victoria

The year-over-year benchmark price of a single-family home in Victoria's core dipped 2.9 per cent to $860,800 in May 2019. A year ago, that price was $886,200. Benchmark prices for single-family homes in other parts of the Capital Region were also down slightly.

In Greater Victoria, the benchmark dropped to $756,000 from $758,800 a year ago. On the Saanich Peninsula, the price dropped to $791,1000 from $808,900 in 2018. Only the West Shore saw an increase in the benchmark price of single-family homes, rising to $637,300 from $627,100 in May 2018. The benchmark price for a condo in the Victoria core increased slightly from $506,100 in May 2018 to $519,300 in May 2019.

Canadian Housing’s Soft Landing

Some economists say Canada's housing market may now have hit bottom after the slowdown engineered by policy makers. Many believe these policies appear to have done the trick, with a soft landing rather than a crash.

The latest Canadian Real Estate Association report shows sales on the upswing in April for a second consecutive month.
Royal Bank of Canada senior economist Robert Hogue said, "The 3.6-per-cent month-over-month advance isn’t an ‘all-clear’ signal for the market but strongly suggests that the cyclical bottom has been reached.”

So, what comes next?
This is the stated opinion of Andres Carbacho-Burgos, lead housing economist at Moody's Analytics, which is the sister company of the credit rating agency: "With the direct and indirect effects of monetary tightening, house price appreciation will slow down in 2020, turn briefly negative in 2021, and only recover in the following years.”

Source: https://www.theglobeandmail.com/business/briefing/article-hitting-market-bottom-a-five-year-forecast-for-house-prices-in-3/?fbclid=IwAR24IPWE3yJzNP26RdQgYppVh1MqtL5T6_tK5FXqvIm-vN2k6bA3n971nG4

What is Your Opinion of the Stress Test?

Evan Siddall, chief executive officer of Canada Mortgage and Housing Corp., offered an aggressive defence of Canada’s tough mortgage qualification standard which was set in place to forestall potentially devastating economic consequences.

He lashed out against industry groups such as Mortgage Professionals Canada (MPC) who have been urging reforms to the stress test which would, (in Mr. Siddall’s opinion), drive up home prices in major cities while stimulating more borrowing by Canadians who are already deeply indebted.

“Apparently the MPC is content to see home builders, real estate agents and mortgage brokers receive short-term benefits while Canadians bear the long-term costs,” Mr. Siddall said. “My job is to advise you against this reckless myopia and protect our economy from potentially tragic consequences.”

Housing Starts in Greater Victoria

Housing starts are up in Greater Victoria as a whole, but they vary widely across the municipalities according to new figures from the Canadian Mortgage and Housing Corporation (CHMC). In Greater Victoria as a whole, they continue to trend up, rising 21.2 per cent year-to-date in 2019, despite a drop of more than 45 per cent in Saanich, Vancouver Island’s largest municipality.

The City of Victoria saw a huge increase year-to-date, jumping to 347 starts from 13, with most of the increase in the category of apartments (331). Nearby Esquimalt also recorded a steep increase with new housing starts jumping from four to 78. In Saanich, housing starts dropped by 45.2 per cent while Oak Bay recorded a drop of almost 47 per cent.

On the Saanich Peninsula, Central Saanich recorded an increase of 80 per cent while Sidney is down 35.7 per cent and North Saanich is down 82.9 per cent.

In the Western Communities, Langford recorded an increase of 43.4 per cent while Colwood recorded a drop of 64 per cent and Sooke recorded a drop of 31.1 per cent. Metchosin, View Royal and Highlands also recorded a drop.

Of the 1,196 housing starts in Greater Victoria, 887 fell into the category of apartments. Condominiums accounted for 55 per cent, followed by rentals with 28 per cent.

Source: https://www.bclocalnews.com/news/increased-rental-construction-boosts-housing-starts-across-greater-victoria/?fbclid=IwAR22hm2HbcliIVdZgEa3C41Wvi0uxidJWUSgjxpM3y0M7GUfdaK_jZbDelo

BC Wildfires in 2019

To date, BC has avoided uncontrolled wildfires this year, and that’s great news! If you like to keep track of wildfires around the province, the Vancouver Sun provides a page to go for updates on what is happening. The information is regularly updated and includes a map of all current wildfires, air quality information, wildfires of note and important contacts and resources.

Source: https://vancouversun.com/news/local-news/b-c-wildfires-map-2019-updates-on-fire-locations-evacuation-alerts-orders

The Latest Plans to Build a New Crystal Pool for Victoria

City staff have been exploring options for a pool location that might include complementary uses such as affordable housing, green space, childcare and parking. This led to a proposal to put the new pool on the playing field west of Central Middle School. However, neighbourhood groups are telling city council that existing parks shouldn’t be reduced by building any type of facilities inside the parks.

Source: https://www.timescolonist.com/news/local/victoria-considers-making-green-spaces-no-build-zones-could-nix-pool-plan-1.23830920?fbclid=IwAR0yOXzSYxEITMm7NPV2v-YfIZ2Eb5RjMM-Cn69seFCiISDgrvvnQJ8q9pY