There has been 13 sales and 4 subject sales since January 1st, 2009 as compared to 32 sales for the same period in 2008. The sales ranged from $125,000-$475,000 with the median price at $293,000 for the first quarter of 2009 as compared to a range of $70,000-$978,000 and a median price of $271,000 for the same period in 2008. There are currently 94 properties on the market: 36 are bare land and the rest are residential. There are also 4 commercial properties currently for sale.
Gabriola Island Real Estate sales as of the end of February 2009 (taken from the Vancouver Island Real Estate Board activity statistics)
The average sale price for the past 12 months is $300,692 as compared to the previous 12 months at $334,303, down 10%
Total sales dollars for the past 12 months is $28,565,742 as compared to the previous 12 months at $52,151,24o, down 45%
The total number of sales for the past 12 months is 95 as compared to the previous 12 months at 156, down 39%
At the end of February 2009 there were 88 active listings as opposed to February 2008 at 53
The sales price to list price ratio for 2009 is 89% as compared to 2008 at 97%
This is great news for buyers, more product to choose from and lower prices mean that a buyer should be able to find a suitable property at an attractive price.
The proposed HRTC is a non-refundable tax credit for work performed or goods acquired in respect of an eligible dwelling. An eligible dwelling is a housing unit that is eligible to be an individual's principal residence or that of one or more of their family members, at any time between January 27, 2009 and February 1, 2010. The credit will be based on eligible expenditures for work performed or goods acquired after January 27, 2009, and before February 1, 2010. Expenditures incurred pursuant to an agreement that was entered into before January 28, 2009, will not be eligible for the credit. The credit will only be available for the 2009 tax year and applies to eligible expenditures of more than $1,000, but not more than $10,000, resulting in a maximum credit of $1,350 ($9,000 x 15%). If you are interested check out the government web site.
NAPTEP is a property tax incentive program which provides landowners who permanently protect natural features of their land with the opportunity to receive a 65% exemption in property taxes on the protected portion of their land. There are a number of upfront costs involved and this program is really aimed at larger properties with current participating protected areas ranging in size from 1 to 23 hectares. http://www.islandstrustfund.bc.ca
We have been getting a good share of sunshine lately and it is time to start gardening. Bedding plants and all your gardening needs are available at a number of nursery outlets on our island.
Seaweed for fertilizing is there for the taking on our shores.
This weather is wonderful for a walk in the park or along our many beaches.
There are a multitude events that take place, below are just a few. Check out the Chamber of Commerce events calendar for more.
April 4 and 5, 2009 Silva Bay Maritime Festival - Launching of project boats, maritime seminars, dinner and music, boat show and boat racing.
April 11, Easter Egg hunt, noon at the Commons listen to music by the Kerplunks, the Hunt starts at 1:00 sharp.
April 23 to May 3, Gabriola Arts Council Community Art Show "Roots" at Artworks.
May, Farmers Market starts, 10-12 Saturdays at the Agi Hall.
May 17, Sunday market starts at Silva Bay.
June 20, Summer Solstice at The Commons.
June 20 & 21, Salmon Derby at Silva Bay.
June 28, Annual Home and Garden tour.
Carly is participating in The Ride to Conquer Cancer, a two-day cycling journey from Vancouver to Seattle, benefiting BC Cancer Foundation. This is a major fundraiser to support critical, breakthrough cancer research at BC Cancer Foundation and any donations you can make are appreciated.
For reading our newsletter. We hope you have enjoyed it and hopefully found out about something you didn't know before! As always we look forward to hearing from you and wish everyone a beautiful Spring!!
Sincerely,
Lesley, Robyn & Carly McMahon
Lesley, Robyn & Carly McMahon, your Gabriola Island Realtors
Located at The Folklife Village, #1-575 North Road, Gabriola BC, Canada V0R 1X3
Toll Free 1.877.422.8455 or Local 247.2088 or email mcmahon@gabriolaproperty.com
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