Here's a gem of a Salt Spring retreat home, just steps from wonderful Beddis Beach, and in a tranquil rural area.
Close to park hiking / walking trails, and just minutes back to Ganges Village and to all amenities / services, and yet enjoying a lovely sense of "apartness".
Fenced easy care "natural" property, very creative home design, lovingly cared for and ready to just step into and to enjoy. Would suit a couple, interested in working from home, and would also suit a family experience.
Sunny, private, rural ambiance, quiet area. A gem! Cusheon Lake is nearby, too! A "best buy" price for an appealing Salt Spring Island home.
Last October, which some might describe as a horrific bottom (stock market losses, bank instability/credit crunch, housing crash), with everyone in fear mode and panic, I began to blog that I thought we would see a return to real estate action by early Spring. We did.
I didn't find many who agreed with me, at that time, and there were a lot of massive price reductions coming through from local companies. Panic was the scene!
Yes, sales volume was down (in some areas by 54 percent!), but that just meant buyers were inactive.
Listing inventory, on the other hand, remained relatively stable. Death, divorce, and moving to assisted living are always the key reasons for selling, and wanting to try a Plan B is a much smaller segment in our discretionary market area.
Salt Spring Island and the Southern Gulf Islands have evolved, post-internet, into secondary home/discretionary markets, and so a purchase on a Gulf Island can be put on hold by a buyer. This is the case regardless of whether it's an up market or a down market moment.
No one "has to" move to Salt Spring Island, or to another Gulf Island -- it's always by choice, and so, in a way, it's always a buyers market, regardless of market trend in play, at any given moment.
In this area, a buyer sets the "where" and the "when" of all transactions. It usually takes three visits, with substantial time periods between visits (the buyer isn't local), before a purchaser will decide to make an offer, on a particular Island. This is why it can take two to three years to sell any property on any Gulf Island, regardless of property type or price.
For a more expensive option, it can take much longer. The buyer for same has a lot of choice, in the entire world, for that second or third home option.
Many sellers do not realize that their property is in competition with areas in other Coastal regions (Vancouver Island, Victoria environs, Sunshine Coast, other Gulf Islands, etc).
One can understand a seller's wish to sell as quickly as possible, but the buyer is the other side of this equation, and it all takes time, in any discretionary market.
This is why the "days on market" feature isn't relevant in a secondary home/non-local market region.
It's also a reason why constant price reductions, during a "pause period", have no effect in a secondary home market. When the buyer doesn't want to act, nothing will happen.
This recent constant reducing of prices effort, then, by some realtors, in a futile desire to jumpstart action during the "pause period", even when the buyer wasn't "around", had the sad result of erasing equity for the sellers.
Since the buyer was too afraid to act, the reductions were of little consequence. Local market manipulation has little to do with a market trend.
Appraisers feel that the market softened between 8 and 15 percent in our area, over the past two years, depending upon property type. Not, however, by 30 percent, as was the case in some U.S. areas, where speculative oversupply was a part of their problem.
The media reporting throughout the Fall of 2008 was dire, and panic mode set in. No one was paying attention to the massive printing of paper money to fund all those bailouts.
The media is always "out" by 90 to 120 days, of course, and their statistics are only "partial", as they only reflect mls sales.
I thought we would see a return to good hard asset investment by early Spring, based on a concern about the validity of cash itself, and by February it was beginning. My thought was that cash would be the next bubble.
In very early February, the low end residential market flowered into action. Apparently, this was experienced globally. Investor buyers were back.
So much paper money being printed, nothing backing same but more paper and a government, and with the fear that the end result of this would be hyperinflation -- yes, fear can make people stop in their tracks, but it can also propel action.
I thought we would see the resurgence of hard asset investment by early Spring, and it was a good sign that the beginning was in the lower end options -- it showed "health" to the turnaround. Interestingly enough, it was mirrored by a renewed interest in the art market -- there is a correlation of sales of art at auctions and the real estate sales pattern in discretionary markets, I think.
I thought we would see a complete reversal of media reporting by May, and we did. I also thought we would see some very tiny steps into sales of the higher end/luxury properties by May, as well, and we did.
The listing inventory remains "thin". Most owners do not want to be sellers, unless they "have to". Buyers are back. They do not trust paper money as the vehicle for preservation of capital.
Interest rates remain at historic lows, but perhaps not for much longer. To stave off inflation, interest rates will have to rise.
And hyperinflation? I read some newsletters where the expert thinks maybe three years from now. I think it will be here a lot faster -- by mid-2010? Perhaps.
Time, in the 20th Century model, has been erased. Can't count on lengths of time anymore. It's a binary world now. On, off, on, off...no time, just always. We're in a societal shift, that's for sure, and no one has a roadmap in their backpack!
Some things to consider: Salt Spring Island and the Southern Gulf Islands are under the jurisdiction of the provincial govenment mandated Islands Trust. It's been in place since 1974, and its purpose is to "preserve and protect", for the benefit of all B.C. residents, the environmental and ecological beauties of the Islands.
Growth has been capped on all the Islands, by strict zoning/density controls. I call that "protected investment", and the Trust has created an "enclave area" on every Gulf Island, thus. Low inventory always, because of the Trust control of growth, current historically low interest rates, the inevitability of inflation at some point, based on the vast amounts of paper money being printed to cover the bailouts, the concern that banks may be shaky still, in the aftermath of the subprime fiasco/resulting credit crunch -- it is a moment for a saavy investor to consider a valid purchase on Salt Spring Island or on another Southern Gulf Island.
Excellent climate, good schools, all amenities for a year round lifestyle, ability to be self-sufficient, in the heart of the best protected boating waters in the world, close to major centres and yet with a wonderful sense of "apartness"...practically perfect, I think!
Timing is everything. It might not be a good time to sell, but it's definitely a good time to buy.
More information? Call me!
How may I help you to buy your special Salt Spring Island or Southern Gulf Island dream property?
Looking for one of the most beautiful homes on Salt Spring Island? Here it is, and it's located in Maracaibo, on the oceanfront, with appealing views over Trincomali Channel, towards Galiano and Mayne Islands.
Sunny, private, in an area of very fine homes, this beauty awaits your pleasure. A custom design, and in "as new" state, the floor plan and the quality finishes are very impressive. A terrific home for a professional couple, wishing to work from home, and would also suit a family.
Easy care "natural" property, a trail down to the water, and access to all of Maracaibo's many significant amenities -- tennis, salt water swimming lagoon, docks for your boat, dinghy dock, miles of walking trails, huge forest preserve areas, and all of this natural splendour mere minutes from the services, galleries, restaurants, amenities of Ganges Village.
This is truly a gem of a property and home. Enjoy!
In early February, locally, we saw a return to real estate as an investment vehicle.
We also saw buyers, who felt they couldn't afford a Gulf Island purchase, in the heady days of 2002 to early 2006, when it was a sellers market, now deciding to take advantage of low interest rates and reduced prices/motivated sellers.
The low end residential was the place of action from early February to end of April, 2009. Undeveloped land and higher end properties remained "flat".
I think a concern over the validity of cash itself (so much being printed, nothing backing same but more paper and a government) was a prime motivator in getting buyers back to a real estate purchase.
In mid-May, we saw six sales over one million, and one w.f. sold very close to 2 million. Then, the sales sank back into the low end residential category. Undeveloped land remains totally quiet.
The main grid of activity in the higher end properties is always from mid-July to mid-September, so the early flurry in mid-May could have been a significant pointer in this direction.
The fear that cash could be the next bubble, in tandem with a concern that hyperinflation can be the only outcome of all that printing press currency, could be the real impetus behind the apparent return to hard asset investment.
In any case, real estate sales are improving globally, and the resurgence has been mainly in the lower end categories, to date, also globally.
The media have been reporting the uptick in our coastal areas since late May. They've also noted a rise in sales, in the luxury market, in our cities. We may see this in our secondary home/discretionary marketplace by August.
I think we will look back and see all of 2006 and 2007 as having been "flat"/inactive (interesting that they're now reporting that the U.S. has been in recession since August, 2007). 2008 will be seen as the "bottom" year, with the absolute bottom showing between October 2008 and end of January 2009.
Real estate, like all markets, is cyclical, and is always fluid. We could be returning to a more stable time, where housing will not be treated as a commodity.
Whatever the path's outcome, it's on the way, and by end of September I expect a sales pattern that will, at long last, allow the appraisers to have a benchmark for their interpretive function. For the past 3 years, with so few sales, and no "pattern" evident, the appraisers had a tough time of it!
More details on market conditions, on Salt Spring Island and on the Southern Gulf Islands? Give me a call!
Successfully connecting buyers and sellers, on the Islands, since 1989, I look forward to bringing my expertise and knowledge to your benefit.
How may I help you to buy your Salt Spring Island or Southern Gulf Islands property?
If anyone is out in a boat, and close to Roche Harbour on San Juan Island, don't miss the incredible fireworks display!
It's a short boat trip from my Canadian Gulf Island home, and from some properties on "our Islands" one can easily see the fireworks on the San Juan Island locations.
I know there's a dotted line, on that space map of the Pacific Northwest Coast, but when you're at sea, the island archipeligo floats into each other, and we're all just "islanders", regardless of which side of the "border" we're on.
I'm always happy to sponsor various art presentations, as I do believe that artistic expression "feeds the soul", and this next week the Precious Metals display at ArtCraft is one of the things I am pleased to "present", via sponsorshiip of the Salt Spring Arts Council. Tonight is the opening reception, between 6 and 8 p.m. The silver and goldsmiths will be in attendance, and their magical work will be showcased on the stage of Mahon Hall. This special presentation runs from July 3 to 16th. See you there!
This Sunday is the 7th Annual Lavender Festival at Sacred Mountain Lavender location on Musgrave Road. Lots going on! Don't miss this event.
Music and Munch, on July 8th, welcomes renowned harpist, Josh Layne. Performance begins at 12:30, at All Saints by the Sea, followed by an optional lunch ($5.50). Enjoy!
Wander into Jill Louise Campbell Gallery, across from Treehouse Cafe...you will be instantly energized by Jill's paintings. Evocative and romantic renderings, that both soothe and interest the soul. Love the sailboats clustering in race mode, off one of the Harbour islands, in a new painting by Jill.
If you haven't made it to the photography exhibition at ArtSpring, Lumiere, don't miss this -- it runs till July 12th. Such talent, on this Island!
Not too late to get involved with the ArtSpring's main fundraiser event, Treasure Fair. Silent and live auctions, between 10 a.m. and 5 p.m., Thursday through Saturday, July 16 to 18.
Salt Spring Woodworks Inside/Outside show opens for the summer season, with new sculpture and art furniture on display. Amazing works, here! Open daily, for the "season", between 10 and 5.
Don't forget the Salt Spring Potters Guild, with their annual summer showcase in the windows of Mark's Work Wearhouse. The theme this year is "Our Harbour".
So much to see and to do, in this busy summer season! Enjoy!
Looking for a peaceful retreat on special Salt Spring Island?
Here's a magnificent almost 20 acres of sunny serenity!
Four ensuite bed sitting rooms, some offering self-contained potential. If you're interested in offering a B and B oriented lifestyle, then this would be ideal!
Would also suit a professional couple, working from home -- offices and seminar space!
A family retreat? Perfection!
A commercial style kitchen, that is very convenient for just two or for a group.
Organic veggie garden (fenced), orchard, barn, workshop, studio, yurt (a meditation space?), pasture, swimming pond, oceanviews, trail to beach, forest with private walking trails, easy care landscaping...this is a truly tranquil property.
Close to all services/amenities, and to golf, tennis, theatre, yet in its own wonderfully prvate and quiet world.
A time to celebrate that we live in a beautiful country, with quality lifestyle, and the freedom to express our individuality.
Enjoy the many celebratory Island events today: the parade, the community birthday cake, the classic car show, the live music venues, and culminating with the fireworks display at dusk, at Ganges Harbour.
How interesting that the ship "World" chose to make special Salt Spring Island one of its global ports of call. Last week it was in Seattle. This week: Salt Spring. An event, indeed, and shows that we are well and truly on the "international map".
Post internet, geography and time have both been erased. All secondary home/discretionary areas are suddenly of equal weight/equal value. Why choose one over another?
Salt Spring Island and the Southern Gulf Islands swim enticingly in Georgia Strait, and enjoy a microclimate called "cool Mediterranean". Vineyards and olive groves flourish, plants and trees that grow in California also grow here, and there are more hours of sunshine year round than in other areas of the Pacific Northwest Coast.
Close to Vancouver, to Victoria, and to Seattle, with easy ferry and floatplane access, and yet with a wonderful sense of "apartness", the Islands offer the rural ambiance of yesteryear combined with the immediacy of the 21st Century's digital world.
Growth is capped, via strict zoning/density controls, as the Islands are governed by a provincial government body known as the Islands Trust.
In place since 1974, the Trust's mandate is "to preserve and protect", for the benefit of all B.C. residents, the environmental and ecological beauties of the Gulf Islands.
More information? Interested in viewing properties? Please call, and ask for "Li's list".
With access to all listings, from all companies, I look forward to showing you "your" special Island property.
In the heart of the best protected boating waters in the world, Salt Spring Island and the Southern Gulf Islands, await your pleasure.
Tonight, at Treehouse in Ganges Village, catch Synergy -- great group! Live music every evening now through the summer season, at Treehouse. Enjoy!
Lumiere, the photography exhibition at ArtSpring runs from today through to July 12th. Exceptional! Don't miss this!
Take part in all the great activities on Canada Day (July 1st), too, including the live music and the classic car display at the SSI Elementary School grounds (off Rainbow Road). Skydiving display at noon, too, plus a birthday cake! Those fireworks at dusk (usually somewhere around 10:15 p.m.), are not to be missed, either.
Have you been to the Harbour House Hotel lately? New look, new menu, new chef...great al fresco dining, too, with a view that is one of the best on the Island. They grow their own veggies, now, and offer great wines by the glass, and specialty beer and cider on tap. Nightly specials, too. Check it out!
Did you know you can follow me on Twitter, Facebook, Linkedin, and Plaxo? Look forward to hearing from you!
Mark your calendars -- July 4th, catch Dick Dale and Band at ArtSpring (call box office for more info/tickets: 250-537-2102).
Enjoy Hastings House's Second Annual Sculpture Trail...enter in off Churchill Road. Some amazing creations to greet you on this magical forest trail. A great concept, and nice to see it continuing for a second season.
The seventh annual Lavendar Festival takes place at Sacred Mountain Lavendar, on Musgrave Road location, on July 5th, 9:45 a.m. to 5 p.m. Otherwise, farm tours and shop open 10 to 4, for the season..
Enjoy the studio tours, the galleries, the scooter and kayak rentals, the specialty bakery/coffee and tea locations, dining alfresco at Calvin's, at Bocados, at Auntie Pesto's, at Salt Spring Inn, at Harbour House Hotel, at Oystercatcher, at Moby's. Things to do and places to go...ask for "Li's List".
real estate, b.c. real estate, salt spring island real estate, Canadian real estate, luxury real estate, waterfront specialist, private islands specialist, estate style properties, secondary home marketplace, active rain, Li at Sea to Sky Premier Properties, Mayne Island, Galiano Island, Pender Islands, Saturna Island, Salt Spring Island, southern Vancouver Island.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
