Salt Spring Island, BC

If you're on Salt Spring Island, on the 17th, drop by the new home of Raffi's Child Honouring Centre. Between 2 & 4 p.m., the Islanders/public are invited to check out this space. On 22 acres, a waterfront farm, the home lends itself to conversion to offices and meeting rooms, plus a large seminar space.

Raffi's dream has been to create a Centre, to bring forth a healing message by presenting it where it counts...with children. As one of his latest CDs sings: "it takes a village to raise a child".

Throughout his over 30 year career, as a noted world renowned children's entertainer, Raffi worked to create a healing environment for the youngest and most fragile of the world's citizens.

Salt Spring is lucky to have been chosen as the venue for this teaching centre.

Check out Raffi's website: www.raffinews.com for more information, and if you're around, drop by!

Winter / Spring 2010
Salt Spring Island real estate in the winter/spring 2010 is a TOTAL buyers market. However, only some Salt Spring Island home sellers have lowered their prices to reflect the large number of listings. Salt Spring Island Properties that are priced to sell are bought quickly with competing offers. One home we listed in June, at a realistic asking price, had an offer in just days. This is the exception to the rule on Salt Spring.

• In the $2 million plus price range there is virtually no liquidity. Last year there were approximately 25 listings and only one sale. One would think the sellers might have a higher chance of winning the 649 Lotto than selling. Overpricing seems to be the rage at the high end. There is this constant myth that to sell at this price range it's a "long sales cycle". A long time on the market tells me it's overpriced. We see little in the way of price support levels at this range. The trend line looks like it's going down and the support positions seems to be a lot lower and will probably end up at the 1 million mark. At this price point, replacement price is a valid comparison tool. There are few, if any, properties that cannot be duplicated for less than the unreal asking prices. It is a myth to think that a property is so unique it cannot be duplicated with your own new dream home. Why would you over pay for some-one's dated, old, dream home. The big myth is it's worth x million because it is so rare. That would be valid if there were only 1 or 2 listings in this range. Supply and Demand is very basic Economics theory but apparently it does not apply to Salt Spring Island real estate at this price range at this time.
  

• In the $1 million and up price range there is an abundance of Salt Spring Island homes on the market and some asking prices have fallen off. We have seen some listings start in the 4 million range and sell at about 1.8 million. Although it may not look like this on the MLS® see Re-listing info on my web site. There is very little market liquidity in this price range. At the 1 mil plus price range there is about a 7 year's supply of inventory, assuming no other homes come on the market and sales stay at the same level. Very few homes in this price range are of a high standard. We could probably count the Sub zero/Garland/high end kitchens on one hand. Most seem to have mid range at best kitchens and are rather dated homes. There are a few, good homes to be had by keen shoppers. Some of the sellers need to sell and have dropped their asking prices and made their home the value leader in this rather dead, high end market. With a good eye, one can find a real bargain in this range. It might need some updating but if it is priced right it may be a deal.
  

• In the middle of market $500,000 to $800,000 the prices are relatively stable but seem to be compressing down. There are lots of listings but steady sales at this price range. Some fine homes with nice views are available. If the home is in perfect shape, well located, with a sunny view lot and not overpriced it will sell fast. There are lots of buyers looking for quality homes in this range.
  

• The houses from $350,000 to $499,000 will continue to sell at a brisk pace. Renters are still moving up. There will continue to be a fast turn over of listings in this range. The homes may not be as well turned out but need to be well constructed, in a decent location and priced to sell. This end of the market is very price sensitive.
  

• The place to look this year might just be raw land acreage. With lumber selling in the 1970 price range and contractors looking for work, this might be a valid option this year. There were steady price reductions of raw land last year and one can expect to pay in around the $40k - $50k per acre price. There has been a steady increase of new developments on the island in the last few years and most of the developers have lots that have not sold. Contrary to what some people think, Salt Spring Island is not a protected park, there is a fair amount of property development on the island. The island trust does not stop development. If you can get a contractor to build at a fixed price you might be ahead this way depending on the price range, location and size of home. The thing to remember is that developers only make a profit when they sell the last few lots in a development. This is a situation to look for and a way to find a real deal.

Two big myths of Salt Spring Island real estate to look out for

Salt Spring Island is a "virtual protected park" or words like this; the island trust has created a "protected investment" area by capping growth. This is pure hype and fiction. It is totally untrue that there is no development and there is a shortage of land on Salt Spring Island. Here is the link to the local planning bylaw there is not one mention of the words "no development", "capped growth" or "protected investment". The bylaw tell how to develop land on the island not stop it. There is no shortage of land or shortage of development on the island. You are not buying in a "virtual protected park" with "capped growth". With the current zoning bylaw the amount of development on the island can approximately double. Yes you read that right there could be approximately double the number of homes on the island and all within the current zoning bylaw 355. As more and more people move here there will be more development. It's basic supply and demand. If demand grows and prices go up the developers will bring more lots on to the market.

The second big myth is Salt Spring has a "long sales cycle". There is no such thing as a "long sales cycle". If the home is overprice it will sit on the market for ever. New listings will come along and sell. Home sales are based on Value and if the home is not the value leader in it's price range, in this buyers market, it will not sell. Some people think there is this mythical "long sales cycle" and if they just hold firm on their price there time will come. It will not happen. Their estate will sell the home for the actual market price after they are gone. Market forces are not based on seniority. Selling is based on free market system. In most cases overpricing will almost guarantee the home will sell for less. I see this every day on this island. One home I visited, after the listing expired, was on the market for over 1000 day and had 3 showing. They had bought into the "long sales cycle" myth and were waiting. Buyers have to know that some sellers on Salt Spring believe in the "long sales cycle" and are waiting for you to be the one. With Re-Listing rampant on the island it might be hard to know how long the place has been on the market.

If you are going to buy in 2010 you need a agent who tells it like it is. One that want to make sure you do not make the fatal mistake of overpaying. My mission is to make sure you get a deal. If you just want to buy off the listing agent and do not care if you overpay that's fine it's your money. If the thought of someone saying "you bought that home! I thought it would never sell, it was on the market for x years, we had a bet it would never sell" horrifies you. You are in luck my forte is working with customers who are market savvy and determined to find the best property at the best price to suit their needs.

Cheers and have a great 2010

Scott Simmons

December 23, 2009.

Last minute special items, for your Christmas Gift List? Drop into Frankly Scarlett, J. Mitchell Gallery, Steffich Fine Art Gallery, Starfish Gallery, and to Upstairs Bears, in Grace Point Square. Martinus Gems on Seaview Avenue, Salt Spring Fine Art Gallery on McPhillips Avenue, ArtSpring Gallery, Houseboat on Hereford Avenue, Salty Shop and Mouat's Clothing, Boardwalk Greens, Pegasus Gallery on the Boardwalk. Don't forget Salt Spring Woodworks, at the corner of Upper Ganges and Churchill Roads!

Something chocolate: from Harlan's, or from Chocolate Beach chocolatier. Incredible pastries from Brigitte, at Rendezvous Cafe...including the Yule Log, a traditional French dessert. Gift Certificates from the many fine restaurants in town: Piccolo's, Calvin's Bistro, Bocados Bistro, Auntie Pesto's, Harbour House Hotel, Treehouse Cafe, Rock Salt Cafe, Bruce's Kitchen, Salt Spring Inn, Marketplace Cafe....aren't we lucky, so many choices!

The gift of discovery, through a book: Watermark Books, Volume 2, Salt Spring Books.....

Salt Spring Soap Works, Salt Spring Roasting Company coffee, deli delights from Country Grocer or Thrifty's (gift packaged!). Remember the Food Bank, too, with donations.

Spa retreats...hair salon gift certificates...don't forget the personal studios dotting the Island...treasures here, too.

Shopping local finds many treasures, usually of a unique and "one off" nature, and helps our friends and neighbours in business, too. It's a circle....

Remember to enjoy a cappucino or a latte or a reviving cup of tea...take time for yourself, at this busy time of year.

December 12, 2009.

Try to catch Santa's arrival, tonight, on the Lions Christmas Ship...7 p.m. at the Coast Guard dock area. This has been an annual event for several years, now, with the Santa Ship starting in Bellingham, I believe, and going to some of the San Juan Islands, and then crossing to the adjacent Southern Gulf Islands, ending up with Salt Spring Island as the final stop.

As the ship, all decorated with lights, floats down the Harbour, it plays carols and seasonal music, and also lets off fireworks. I discovered this by accident, a couple of years ago, when I left the office later than usual, and could see fireworks in a very clear sky -- it was crisp and clear, that night. I wandered down to the dock area, with a lot of other purposeful people, and had a wonderful time welcoming Santa to the Island. It's for the "kid" in all of us!

One year, it was very foggy, so couldn't see the fireworks, but this year appears to be high cloud, and it should be warmer than the past couple of days. Give yourself a treat, and be at the Harbour...Santa steps ashore at 7 p.m., goes off to the Elementary School, and also to Greenwoods and to the Lady Minto Hospital. He's busy! Wave, if you see me!

I wandered through several of our eclectic and inviting retail stores, in Ganges Village, and to Mahon Hall to take in Wintercraft, on a quest for the gift below $20. This is a benchmark in my family, now, as we give to charity, in the name of a family member, in lieu of a big gift.

(Locally, the Food Bank, Copper Kettle, SPCA, Wildlife Rescue Centre all need our help, and the Salvation Army and the B.C. Children's Hospital are two other good ideas for gifting. Several Island families have needed the specialized care of the B.C. Children's Hospital, and so, in a way, this is also a "local charity". The need is great, at this time of year....).

I found lots of great gift ideas, and you might want to consider browsing locally, too, to help support our friends and neighbours who are in business, and who rely on us as customers. Check out: Wintercraft, Frankly Scarlett, J. Mitchell Gallery, Starfish Gallery, Salt Spring Gallery of Fine Arts, West of the Moon children's store, Waterfront Gallery, Salt Spring Books, Watermark Books, Volume 2 Books, Salty Shop, Houseboat, Harlan's Chocolates, Windflower Moon metaphysical store, Salt Spring Soap Works, and don't forget gift certificates from Calvin's Bistro, from Cafe Talia, from Salt Spring Roasting Company, from T.J. Beans, from Treehouse, from Bruce's Kitchen. Lots of options to meet that "under $20" mark! Your suggestions? Always welcome!

Take a minute, too, to enjoy the lights in the Village, to catch a tea or coffee or hot chocolate at your favourite "watering hole", and to just "be".

Tomorrow is the third Sunday in Advent...it's the candle of Hope...a thought for all of us to ponder on, in these uncertain times.

December 11, 2009.

Calvin's Bistro is offering a terrific 3 course Christmas Dinner as their holiday special...three choices of starters, two entree choices (yes, turkey is one of them!), and two choices of seasonal desserts. They also offer Christmas parties, up to 65 people. Enjoy!

December 19th, at Moby's, Zav RT and Daniel Huscroft will showcase their prodigious talents, starting at 8 p.m.

Grace Point Square merchants invite everyone to browse their fine seasonal offerings...something for every budget and every taste, here! Frankly Scarlett gifts and gems, Persnickety children's wear, Upstairs Bears unique Teddy Bear Boutique, J. Mitchell Gallery's eclectic offerings of sculpture, painting, jewellery, objets to please, Ganges Garment Company with gifts of clothing and accessories, Starfish Gallery & Studio, emphasizing photography and writings, poems and prose...wander these innovative locations...tired? pop into the Skin Sensations Day Spa...

At Salt Spring Vineyards, on the 12th and 13th, plus the 16th to the 23rd, and the 27th to 29th, enjoy tastings and consider their gift baskets as suggestions for Santa to consider...open noon to 4 p.m.

Salt Spring Artists Gallery of Fine Art, on McPhillips, showcases Big Small Show...lots of ideas, here, for all budgets. If you haven't discovered this latest addition to the cooperative gallery scene, in "downtown Ganges", then you have a treat before you.

Don't forget the Salt Spring Concert Band's performance, tomorrow night, at ArtSpring: Celestial Music. Show begins, one night only, at 8 p.m.

Sunday, at 2:30 p.m., also at ArtSpring, is the very talented Sharon Minemoto Trio -- if you're a jazz fan, be there!

Music at Treehouse (yes, in the comfort of their new enclosed space) -- tonight, it's Vaughn Fulford and tomorrow night it's Donn Tarris & Tess Fama. Live music, in this location, every Friday and Saturday, now, from 5 to 8 p.m. Enjoy!

Wintercraft continues at Mahon Hall...lots of great gift ideas, here, and for all budgets. Catch Marnie Burton's jewellery, here. Wintercraft runs through to Dec. 20th, 10 a.m. to 5 p.m., daily.

Seasonal music and themes at All Saints by the Sea: Carols for Christmastide on Dec. 16th, at 2 p.m., and then the more traditional Anglican presentation of Nine Lessons and Carols. Sunday, Dec. 20th, at 4 p.m.

Don't forget to tune into the local community radio station...some great shows on, and you can view the roster of options at the website ( www.cfsi-fm.com) -- it's the voice of the Islands!

I find it very interesting that the decision to rebuild the new library, in its current McPhillips Avenue location, passed by 78% in favour of same location. Salt Spring appears to be a very thoughtful space...interesting points of view, in the letters to the editor, for several weeks, in the local weekly newspaper (Driftwood), and in the end, the "Island spoke". We are lucky we live where we do.

Don't forget that tomorrow is Santa's arrival by ship! He arrives on the Lions Santa Ship, with fireworks display in the Harbour, at 7 p.m. Then off to the Salt Spring Elementary School, to deliver gifts, plus a segue to Greenwoods and Lady Minto Hospital. If you've never seen this particular Santa arrival, don't miss it!

This is a difficult time, economically, as we enter year two of the meltdown moment of late 2008. The local Food Bank projects that it will be $20,000 "short", due to increased need. It's so important to remember to gift, even though the gift may be small, these kinds of options...this is the season of giving and of sharing, and good to take a larger point of view, beyond our immediate circle of family and friends, and to remember the community at large....

Some other giving options? Copper Kettle, SPCA, Island Wildlife rescue & rehabilitation facility, Salvation Army, B.C. Children's Hospital....the need is great.