Doug & Shae Webber

2011 ~ Our Year In Review

Doug & Shae Webber — Tue, 24 Jan 2012 21:16:00 GMT

Thank you to all our clients for helping to make 2011 a busy and successful year. With your support we were able to achieve Top Producers on a number of occasions.

In review, our List:Sell ratio far exceeded the local industry average at 53% (local average being only 35%). We were able to achieve an overage List Price:Sell Price of 96%; also beating the local industry average.

We tracked our inquiries for the year and found some interesting information. Based on our listings, the majority of inquiries came from cooperating REALTORS® (54%). Our website, webbers.ca, was the source of 9% of all inquiries. 8% of inquiries were from our previous clients and 5% of total inquiries were the result of the realtor.ca website.

When listing your home for sale, it's important to know where the buyers are finding the homes they buy. We are pleased to report that our listings sold as a direct result of:
# 1 = cooperating REALTORS®/Brokerages: this confirms the power of listing MLS®. 67% of our listings sold as a result of the MLS®.
# 2 = Second place is held by a three-way tie at 11% each for realtor.ca (attesting again to the power of the MLS®), public open houses and signage.

People are always asking about newspaper advertising. Our tracking is almost identical to the reporting from the Vancouver Island Real Estate Board, with buyers finding the homes they purchase as a result of print advertising, at a mere 1%. We've entered the information/Internet age. The majority of buyers are finding their new homes on the Internet or with the help of REALTORS®.

Are you looking at making a real estate move? Call or email us and we will be happy to assist.

Shae Webber, REALTOR®

October MLS® Statistics

Doug & Shae Webber — Tue, 15 Nov 2011 16:51:00 GMT

MLS® STATISTICS, October 2011

Vancouver Island Real Estate Board MLS® statistics for October show:

Total sales in the Cowichan zone (Shawnigan/Mill Bay to Ladysmith) were: 59
Total average sale price (all sales) for the region: $255,918
Total Single Family property sales for October were: 39
Total average sale price was: $334,061

October saw a decrease in single family sales volume from September (39 sales from 50 sales). October 2011 equaled sales in October 2011, although the average sale price dropped 1% year to year.

The most active price range for January through October is $300,000 - $350,000 (138 sales), followed closely by the $350,001 - $400,000 price range (126 sales). Third place went to $250,001 - $300,000 (114 sales).

If you or someone you know is considering making a real estate move, call us first. We can provide the information needed to make an informed decision in today’s market.

Recognized Top Producers Again

Doug & Shae Webber — Fri, 14 Oct 2011 16:10:00 GMT

Doug and Shae have been recognized as Top Producers at Pemberton Holmes, Duncan, again! Looking for effective representation? Call Doug & Shae. They're proven performers!

October E-News, "The Webber Report", Now Available

Doug & Shae Webber — Wed, 05 Oct 2011 03:53:00 GMT

Our electronic newsletter, "The Webber Report" is now available for October. We have included current MLS statistics with a coinciding editorial, have information about our Facebook page, news about Pemberton Holmes' expansion, and our feature listings.

Want to see an article written about a subject of interest to you? Send us a note and we'll write on the subject for an upcoming E-Newsletter.

Top Producers for June

Doug & Shae Webber — Wed, 13 Jul 2011 23:29:00 GMT

We achieved Top Producing Team at our Duncan office for the month of June as well as making the Top 10% for Pemberton Holmes Ltd. for the month of June.

Thank you to all our clients for helping us to achieve this recognition. We've been working hard this spring and are looking forward to an equally busy summer. Please remember to call us if you, or someone you know, is thinking of making a real estate move.

FORECLOSURES

Doug & Shae Webber — Thu, 21 Oct 2010 18:34:00 GMT

By Shae Webber

Foreclosures are becoming more and more common in today's real estate market, with the Cowichan Valley not being immune from the trend. There is a lot of confusion about the process and what is available to homeowners to potentially avoid the experience. It is important for homeowners to educate themselves with the legal process and remove some of the fear by becoming pro-active.

Once a homeowner becomes aware that they may fall behind in mortgage payments, even if it is the first one being missed, they should promptly contact their Lender. There are a variety of options available that may provide relief to the homeowner. Perhaps the amortization could be extended to reduce the monthly payments, or there may be a willingness on the part of the Lender to excuse a payment or payments if it is understood the payments being missed are due to a temporary situation such as a job loss or a loss in the family. These are only two examples.

If you find yourself in this situation but have not yet received a Demand Letter, it is absolutely critical that you deal with it in a timely and pro-active manner. Ignoring it will only make your situation more stressful and may in fact speed up the process.

The "Steps in a Foreclosure Proceeding" are legal actions against the homeowner, and can be lengthy as well as overwhelming. Legal advice is recommended. Contact us for your copy of the Proceedings flowchart.

If you have questions regarding foreclosures, please contact us for a more detailed conversation and what services we may be able to provide.

*The comments and opinions herein are those of the author and are not those of PembertonHolmes Ltd.

HST...How It Works and Why It Slowed Real Estate

Doug & Shae Webber — Wed, 18 Aug 2010 22:13:00 GMT

There is a lot of questions and confusion out there about how the HST affects real estate. The answer is really quite simple. It works exactly the same as the GST.

The rule is that HST is applicable to all real estate transactions unless an exemption is met. This was the same rule for GST. A term that’s been used frequently by the media recently is “resale” homes. We hear this term a lot because resale homes are HST exempt. A resale home is one that has been lived in. For example:

A homeowner wants to sell. They have lived in their home for a number of months or years. HST applicable? No. It is a resale home and therefore exempt.
A builder wants to sell the house he has just built. It has never been lived in by the builder, or anyone else. HST applicable? Yes.
A builder wants to sell the house he has just built. The builder has lived in it for a short time. HST applicable? No. It is a resale home and therefore exempt.
A builder wants to sell the house he has just built. The house has tenants residing in it. HST applicable? No. It is a resale home and therefore exempt.

These types of scenarios are the most common. What about raw land? That’s where things can get a little “gray”. Let’s try a couple more scenarios:

A building lot, or raw land, has recently been created by a developer/property owner for the purpose of selling for profit. HST applicable? Yes.
A property owner had originally purchased land to build their personal residence but the home was never built and the owner now wants to sell. HST applicable? No. It is exempt. Refer to the Excise Tax Act, Schedule V, Section 9.

The application of tax is not cut and dry but these could be considered general guidelines. For clarity, we always advise our clients to contact either their lawyer or accountant, or the Canada Revenue Agency’s HST Ruling Centre. I’ve spoken with representatives from this department a few times now and have found them to be extremely helpful.

One more note on HST. Rebates are applicable if certain conditions are met. These rebates will bring down the total cost of the purchase price of the new construction home. The formula is unusual but essentially with rebates, the total tax payable is only a 2% increase from the GST. Here’s an added bonus. If the new construction home was 90% complete on July 1, 2010, an additional rebate applies. The catch though is that the Buyer must be purchasing the home as their principal residence otherwise the full HST of 12% applies to the purchase price with no relief from rebates. An example of this would be an investor purchasing a new construction home with the intent to rent it out.

The media now reports that HST has slowed real estate in BC and Ontario. My belief is that if the HST has slowed real estate, it’s because of the initial lack of information provided by our government as well as media misinformation. I don’t know how many news stories I saw that had only half the facts or wrong information. Anyone hoping to buy a new construction home in the early days of July was faced with ill-informed professionals including lawyers, accountants, REALTORS® and real estate brokerage managers. With everyone in the dark about how best to deal with offers, people decided not to buy new home construction. Buyers working with a REALTOR® would have known that HST was only applicable to new construction and so that would not have deterred them from purchasing a resale home. I’m optimistic we’ll see increased sales soon as proper information is now available and understood by professionals as to the application of the tax and possible rebates, and the historically slow summer months will eventually turn into a historically busy autumn.

By Shae Webber, REALTOR®

August 18, 2010

The opinions in this article are those of the Authors and not those of Pemberton Holmes Ltd.

Information is from sources deemed reliable but should not be relied upon without independent verification.

RENT TO OWN - A GROWING TREND?

Doug & Shae Webber — Mon, 28 Jun 2010 22:16:00 GMT

Today’s real estate market is experiencing a cyclical flux. We are seeing more homes on the market, longer days on the market, and fewer sales. This could be considered as typical for the time of year when you consider the seasonal spring rush is done and the summer slow down is here. This is a historical trend and is not alarming or uncommon. Conversations with area REALTORS® have indicated a general slow down overall in all price ranges and neighbourhoods. What makes this year’s slow down somewhat unusual is that it is coupled with tighter mortgage application rules and increasing interest rates.

Increasingly we are being asked about rent to own as options for Purchasers. We are being asked this not because the potential Purchaser has bad credit, no credit or no down payment. These Purchasers typically do have good credit, a good income and a healthy down payment. The issue quite often is that the Purchaser has a job considered casual or part-time, or has been working in their field of employment for less than two years. Self-employed or commission sales individuals will face even more difficulties in qualifying for mortgage financing.

If a Seller is considering renting out their property to cover expenses because of a lengthy time on the market, the rent to own scenario may suit them. The rent to own can provide a level of security for the Seller in that the tenant is also the Purchaser who will have a vested, financial interest in the property.

Arranging a rent to own purchase must be done correctly to protect both the Buyer and the Seller. It is important to include specific contract terms and register appropriate notifications on the property’s title. As REALTORS®, we know how to prepare appropriate, binding contracts including rent-to-own contracts. If this is something you want to consider, as either a Seller or Purchaser, call or send us an email.

By Shae Webber

The opinions in this article are those of the author and not those of Pemberton Holmes Ltd.
Information is from sources deemed reliable but should not be relied upon without independent verification.

FOR SALE BY OWNER ADVERTISERS...SELLER BEWARE

Doug & Shae Webber — Wed, 02 Jun 2010 20:53:00 GMT

By Doug Webber & Shae Webber

Certain For Sale By Owner Advertisers would like you to believe that all you have to do to sell a home is advertise on the Internet. These advertisers will even claim to “help you from start to finish” giving the illusion they are able to provide these services.

For Sale By Owner Advertisers are not legally permitted to provide Real Estate services. That is why their advertisements have disclaimers such as “we are not REALTORS®”. If you are able to locate the fine print, another disclaimer may read:

* Only available in participating areas. Services are defined locally and performed by third-party service providers and not the Anonymous Advertiser. These services may include but are not limited to property valuations or appraisal services, pre-sale home inspections, legal services, home staging services or other real estate related services.

Real Estate is a regulated industry overseen by British Columbia’s Real Estate Superintendent. Real Estate is governed by Statute Law, namely “The Real Estate Services Act” (RESA). The law clearly states who can provide Real Estate services. A license to provide trading services is required by anyone who, or on behalf of a party selling, purchasing or leasing Real Estate, provides any of the following services:

a) advising on the appropriate price for the Real Estate;

b) making representations about the Real Estate;

c) finding the Real Estate for a party to acquire;

d) finding a party to acquire the Real Estate;

e) showing the Real Estate;

f) negotiating the price of the Real Estate or the terms of the trade in Real Estate;

g) presenting offers to dispose of or acquire the Real Estate; or

h) receiving deposit money paid in respect of the Real Estate.*

You most likely purchased your home and already know that lawyers, bankers, appraisers and inspectors are involved in the Real Estate process. You have probably heard about home staging and curb appeal. Do you really need to pay up to $1500 for somebody to tell you what you already know?

It is true that anybody can post an ad on the Internet and receive inquiries. But what do you do after that? Does it make sense to repeatedly meet with your lawyer to seek Real Estate advice? A REALTOR® will advise you from start to finish and is available when and where you need them.

REALTORS® provide advice based on experience and knowledge about the local market conditions, trends and history. REALTORS® will take care of the details, letting you focus on your goals. You will need to understand the Law of Agency and how it affects you as a Seller. It is important to understand that Listing REALTORS® have a very different role than REALTORS® working as Buyers Agents. Be clear about who is working for you, and what information you are providing.

Selling your home is important. Getting the right price and terms is important to you. Avoid costly mistakes and unnecessary fees by getting it done right the first time. A REALTOR® will do more than just advertise your home for sale on the Internet. The simple fact is that choosing to hire an experienced REALTOR® to sell your home will protect your interests, reduce your legal risk, and save you money, time and stress.

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Source: RESA, s.1 (definition of "trading services")
The opinions in this article are those of the authors and not those of Pemberton Holmes Ltd.
Information is from sources deemed reliable but should not be relied upon with independent verification.

Are You Thinking Of Selling? We Have Buyers!

Doug & Shae Webber — Fri, 30 Apr 2010 21:19:00 GMT

We are working with qualified Buyers hoping to purchase very soon. Properties we are trying to find for different groups are:

- small acreage suitable for a two horses; manufactured home is fine; anywhere in the Cowichan Valley area. Completion would be in May. Price Range up to $350,000.

- Rancher on a flat property. Must have a two-car garage and be in move-in condition. Prefer hardiplank siding. Prefer Duncan, east of the highway. Completion beginning of June. Price range to $350,000.

- acreage in the Cowichan Valley within easy access of riding trails and outdoor recreation. Wanted asap. Price range varies depending on whether raw land or acreage with a house.

- a "renovation" home in the Duncan area. Price range varies depending on the uniqueness of the property.

Do any of these describe your home? Or someone's home that you know is thinking about selling? Contact us. We can discuss an arrangement to get your home sold quickly and smoothly. This is not intended to solicit properties already listed for sale.

Doug Webber & Shae Webber
Pemberton Holmes Ltd.
Email: dougandshae@webbers.ca
Direct: 250-709-8888

Find Us On FaceBook

Doug & Shae Webber — Fri, 02 Apr 2010 19:02:00 GMT

You can now keep up with us on Facebook. We're known as The Webbers. Hope to see you there!

Changes to Mortgage Rules and What Self-Employed Buyers Need to Know

Doug & Shae Webber — Sun, 21 Mar 2010 03:36:00 GMT

Do the new mortgage rules affect the self-employed individual? Yes. It is going to be more difficult to obtain a mortgage as the CMHC insured mortgages will require further proof of income. If you are self employed and thinking about buying, think about buying something before April 19th!

We encourage your posted comments. Contact us direct for professional advice based on your personal circumstances.

Major Change To Investment Real Estate - Looking To Buy? This Is A Must Read!

Doug & Shae Webber — Fri, 19 Mar 2010 19:50:00 GMT

Individuals looking to purchase real estate as an investment (ie: rental property), there is a MAJOR change you must know about. The new Federal changes made to mortgages include a change to your required down payment. Effective APRIL 19, you must have a down payment of 20% for government backed (ie: CMHC) mortgages. There are also changes regarding how much rental income can be included in the mortgage application.

If you are looking to purchase rental or investment real estate and you don't have the 20% down, you had better make your purchase prior to APRIL 19TH.

We encourage your comments. If you would prefer confidential real estate advice, please contact us direct.

New Mortgage Rules For Home Purchasers ~ Important To Know

Doug & Shae Webber — Fri, 19 Mar 2010 16:43:00 GMT

If you are considering purchasing real estate, you need to know about the mortgage changes coming in to effect on April 19th. Your purchasing power may be affected by as much as $100,000!! Here's an example:
Mrs. Buyer has an annual income of $54,000 and qualifies at the 3 year rate for a mortgage of $300,000. On April 19th, Mrs. Buyer may find that she only qualifies for the 5 year posted rate which means her buying power has dropped to approximatey $200,000 (based on the 5.39% fixed posted rate).
Mrs. Buyer has two options (1) qualify now at the 5 year posted rate and adjust her expectations in a home, or (2) enter into an unconditional Contract of Purchase and Sale prior to April 19th.
We encourage your questions. Post them publicly here or contact us direct to receive confidential real estate advice

Newly Listed Family Home in The Warm Lands

Doug & Shae Webber — Mon, 01 Mar 2010 06:04:00 GMT

"The Warm Lands" subdivision is located near the Shawnigan Lake Village and is an easy commute to Victoria. This large family home boasts 5 bedrooms, a den, in-law suite potential and all the things you would expect from a home of its calibre. View the many photos and floor plan (not exact to actual house) at our website. You will not want to miss this home. The almost half acre property is treed at the back and offers plenty of room for your ideas. Detached shop/garage? Swimming pool? Let your imagination go on this one. View the photos and details at our website and then contact us to book your appointment to view.

Address: 2655 Courtney Way List Price: $699,000 (well below recent bank appraisal)

Listed with Doug Webber and Shae Webber
Pemberton Holmes Ltd.