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December 7, 2007
Strong & Balanced Real Estate Market Predicted for 2008
Tony Joe, 2008 president of the Victoria Real Estate Board, says the Victoria area housing market should remain strong and stable in the coming year."During the past couple of years we have seen a return to a more balanced market. Demand remains remarkably strong and prices continue to rise, but at amore moderate pace than we have seen in recent years. Barring unforeseen circumstances, all indications point to continued strength and stability in 2008."
Joe added that the Board will enhance its efforts to "go green" in the coming year. "One of the Quality of Life principles adopted by our Board is ‘preserving the environment’ and we intend to further our efforts to promote green values as part of the real estate transaction," he said. Joe noted that the Board has had some initial discussions with the Ministry of Energy, Mines and Petroleum Resources about new ways to encourage home owners to heat their homes more efficiently. "We've volunteered to run a pilot project in Greater Victoria to inform buyers of the energy efficiency rating of various homes. We think growing public interest will prompt more and more sellers to do all they can to get their homes ‘energy-ready’ before they list for sale," said Joe.
Joe noted that the Board has also volunteered with the Ministry of the Environment to run a pilot project in our Board area to notify buyers of a home’s "water-conservation measures". "We think REALTORS® can play a key role by helping to rate a home based on its use of such items as low-flush toilets, low-flow shower heads, front-end loading washing machines and the use of grey water and rain water," he added.
The 2008 Board of Directors is as follows: Tony Joe - President; Chris Markham - President Elect; Bev McIvor - Past President; Carol Crabb - Secretary-Treasurer. Other Directors are: Jane Logan, Randi Masters, John McVie, John Smith and Lorraine Stundon. The 2008 Directors take office effective January 1.
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