Li Read

This is the Labour Day Holiday Weekend, and it's a holiday in both Canada and in the U.S. I always think of it as the last burst of "real" summer.

Students are back to school, the day after the Monday holiday, and that always seems to signal the beginning of a new year, too. My psyche is on a September to August cycle, clearly!

Lots to do and see on Salt Spring, though, on this holiday weekend!

The Saturday Market in the Park continues, ArtCraft is still showcasing Gulf Island artistic works, the Gallery at ArtSpring is still presenting works, the Summer Shows are still in evidence at the various Ganges Village galleries, and the Studio Tour map guides you to artists studio spaces all over the Island!

Live music continues at the Treehouse, in Ganges Village, with the eclectic and energetic Sunyata playing this evening!

Al Fresco dining pleasures can still be caught -- Calvin's Bistro, Harbour House Hotel, Bocados Bistro, Moby's, Seaside Kitchen, Auntie Pesto's, Piccolo's, Marketplace Cafe, Rock Salt Cafe...coffee/tea light meals outdoors? Try: Cafe Talia, Rendezvous Cafe, Jana's Bakeshop, TJ Beans...lots to enjoy and to savour as we slowly enter early Fall.

If you can't hear the new local radio station (107.9 on your fm dial), then you can find it via streaming audio on their website: www.cfsi-fm.com (Check it out!).

Picnic at Ruckle Park or at Mt. Maxwell or at Burgoyne Bay park! Some last minute swimming in St. Mary Lake, Cusheon Lake, Stowell Lake, Weston Lake, or the ocean at Cranberry Outlet (Bader's) Beach or at Vesuvius Beach.

Whatever it is that sums up summer for you, get out there and enjoy it, this holiday weekend!

Mark your calendars -- the annual Terry Fox Run starts at 11 a.m. (registration at 10 a.m.), from Salt Spring Elementary School, on Rainbow Road, on Sunday, Sept. 13th.

Run, walk, skateboard, rollerblade, alone or with friends, with or without dog...the cause is cancer fundraising, and the event also remembers Terry Fox, a brave Canadian, and one who inspired others.

Terry lost a leg to cancer, and in his rehabilitation, he decided to run across the country, from East to West (he was from Vancouver), to raise money for cancer research. He began with little fanfare at all, and his support camper vehicle was always well behind him, in his race with himself.

I saw Terry running, in the empty wilderness of Northern Ontario, the mid-point in his projected run across Canada, and just the day before he had to give up/return to Vancouver, with a flare-up in his cancer.

An unforgettable sight, the intensity on his face, the lopsided gait, no one else on that stretch of wilderness road, lined with the northern Ontario forest...he was a message of endurance, commitment, and courage.

Be there, on September 13th! Remember Terry, and keep up the funding for research.

September, 2009.

It's odd, but I always feel that September is the start of a new year, and that this calendar division between December 31st and January 1st is somehow arbitrary. It might be a result of the school system emphasizing that September to June grid, but Fall, to me, means a time of new beginnings.

A very different kind of a year, though, since Fall, 2008 ushered in the meltdown, in almost every sphere of society.

Certainly, things are very different now, in early September 2009, than they were in September, 2007!

No one has been unaffected or insulated from the economic collapses. Many people lost hugely in the stock market crashes between September 15th, 2008 and close of January, 2009. The housing market collapse in the U.S., while perhaps not felt to the same degree in Canadian regions, nevertheless had a global impact.

The old adage in real estate was always that it was a regional affair, and therefore one could not extrapolate out from area to area.

The internet erased time and geography, among many things that it changed, and so this old axiom is no longer truly relevant. Markets are global, and that includes housing markets. Some places may be more attracting than others, at any given time, but no area is immune from global statistics now. Perhaps the main reason for this is that the commoditization of real estate, over the recent past, opened it up to a global purchaser, and so that expanded buyer profile affected all areas -- it's buyers that set markets, not sellers or realtors. The butterfly effect is felt everywhere...an event in Tokyo or in Shanghai or in Mumbai or in Los Angeles or in New York or in Frankfurt or in Toronto or in London or...you get the idea. We're all connected now.

At the beginning of February, 2009, a "pick up" in sales activity occurred, in the low end residential offerings, and it appeared to do this globally as well as locally. First time buyers took advantage of price reductions and of low interest rates, first time buyer "help", and larger inventory to choose from. As this inventory cleared out, however, (and the price reductions such buyers delivered at the point of the sale occurred regardless of any previous reduction track), it became clear that inventory was not growing.

So much paper money was printed, for all of the various bailouts, globally, with nothing backing same but more paper and a government, that people who had not lost their core positions, and who were resting in cash, began to be concerned about the validity of same. Was cash itself going to be the next "bubble"?

Yes, an immediate deflationary trend was in play, but the threat of hyperinflation was lurking in the wings. The trick, of course, in all projections, is to call the "when".

The very high end in the city/primary residence markets began to come into play, a few months after the lower end/first time buyer market became active. This was not mirrored, however, in secondary home/discretionary marketplaces, such as on the Southern Gulf Islands / on Salt Spring Island. No one "has to" buy a second or third home, and so we can be put "on hold", until the buyer is in a mood to act.

Also, the credit crunch is still in evidence in secondary home markets, particularly when undeveloped/raw land is the item under discussion. On the Islands, then, there have been random encounters in higher end properties, usually niche options, and they sell for much reduced price points (in spite of reductions that took place before the point of an offer). It is still a very quiet moment for properties listed over 900,000, and very quiet indeed in properties over 2 million.

The media reports are very euphoric, now. In the Fall of 2008, the media was gloomier than the reality, and now they are more buoyant than the reality. Their reporting makes it sound as if everything is rosy, but when one looks into the background of their reporting, it's clear that the multiple offer scenarios that can occur in a city marketplace are still in the under 800,000 price range, and most under 600,000. Although multiple offers are rare on a Gulf Island, it does appear that buyers are having to come closer to a seller's list price than in the early Spring. The reason for this is the same in both primary and secondary markets -- it's about a lack of inventory.

Unless an owner "has to" sell, or has a desire to explore a plan B, then they do not want to become sellers. Where would I go? What would I do with the money? I might as well stay put. On the buyer side, with this concern over being top heavy in cash/wanting a good hard asset investment, it's the same dilemma. Where to buy? What to choose? Not enough choice....

The interesting aspect of a purchase on Salt Spring Island or on another Gulf Island is this fact that it's a "protected investment". Since 1974, the Islands Trust, a provincial government body, with the mandate of: "to preserve and protect the environmental beauties of the Gulf Islands, for the benefit of all B.C. residents", has ensured that there would be a cap on growth. More information? Give me a call!

I have felt, as this year's sales rhythm progressed (slow but sure, and mainly in the low end residential still), that we would turn out to be busiest from mid-August through to end of November. A later and longer scenario, then, with a slow upticking in price points.

The Olympics, in February of 2010, will introduce this beautiful coastal area to people, and it's very usual to find them returning for a closer look within 6 months or so. That means we may be back to a more regular sales rhythm, in our delectable region, by late summer/early fall of 2010. Isn't that when some forecasters are calling for inflation to be evident? Wish we had a crystal ball! The hallmark of a transition period is this kind of "mixed message" moment.

How may I help you to buy your special Gulf Islands/Salt Spring Island property? I look forward to your call.

liread33@gmail.com

August 31, 2009.

Salt Spring Island and the Southern Gulf Islands offer splendid opportunities for travel enjoyment as we enter a "shoulder season".

September can be every bit as warm as August, and it's still a great time to arrive by private boat, too. The Southern Gulf Islands are in the heart of the best protected boating waters in the world, and September kayaking, or sailing, or power yachting can be wonderful.

The beaches and parks can be less crowded, with children back in school. Swimming in the sea and in the lakes remains a joy.

Fall Fairs, farmers markets with bounteous local produce/fruit, much of it certified organic, Salt Spring's annual Apple Festival, al fresco dining pleasures still enjoyable at the restaurants and coffee houses...we know Fall eventually melts into Winter, but September is always a gift, in the Islands.

Come discover!

Looking for real estate? Give me a call!

liread33@gmail.com

August 27, 2009.

Don't know if it's just a hold-over from the years I was in education (used to teach grades 8 to 12), but I always think that the year "really" starts in September, and this January to December demarcation seems quite artificial, to me. The Fall is a signal for new beginnings, to me. Evening classes offered, symphony and opera seasons, theatre playbills, yoga classe beginner levels (no excuse not to try it!), book club meetings, Fall schedule at the pool, you name it/there's something, and September seems to unleash that creative spark that summer's softer rhythm submerged.

It is "back to school" time, though, and in some areas they've already started/in others, it's right after Labour Day (which is "late", this year). Pay attention to crosswalks, to distracted children, and to inattentive motorists...it's suddenly busy again on the streets/sidewalks, after the summer lull. Keep alert, and remember those speed zones.

Locally, remember to thank all current members of the Lions Club...they do such good work on the Island, and support so many things. It's their 50th Anniversary on Salt Spring Island! Appreciated!

Catch J. Mitchell Gallery's summer show -- runs till Sept. 20th. Talented roster of artists...welcome the new owner, and his manager. A new look to the gallery's displays.

Drop by Auntie Pesto's, nearby, to view photographs by Gillean Proctor (from his Botanical series).

Tree House Cafe continues the live music, nightly -- tonight, catch Sharon Bailey; on the 28th, it's Julia Beattie; on the 29th enjoy Lisa Maxx; on the 30th it's Billie Woods; Monday the 31st, enjoy Gene Grooms. The popular Open Stage is on the 1st, with Stephanie Rhodes holding down top spot on the 2nd. Always something great at Treehouse!

More music at Moby's, with Classic Rock, by Paxton Bachman, from 8 to 11, and jazz with Henry Boudin & Friends on the 30th (7 to 10 p.m.). Enjoy!

Drop by ArtSpring, or the Chamber/Tourist outlet, and pick up the brochure of ArtSpring's lineup for their Fall/Winter season...some great events coming to Salt Spring, from September 16 to May 4. Don't miss out!

Tomorrow, at Salt Spring Vineyard, their new release, 2008 Pinot Gris & Merlot Rose, takes place...live music on Fridays, too, from 2 to 4 p.m.

September 2, the Music & Munch series, at All Saints by the Sea, showcases Black Velvet Band (concerts are free, in this series, and begin at 12:10. Optional lunch, to follow, for $5.50. If you haven't attended this series, start now!

A special evening with Valdy and The Usual Suspects at MarketPlace Cafe, in Harbour Centre, on the 30th, at 7 p.m. Enjoy the food and the sounds!

Mark your calendars for the annual Terry Fox Run -- Sept. 13th. I saw Terry on his run, in northern Ontario, heading west, just before he had to call off his race across the country. It was both heart-breaking and inspiring, and is not something one ever forgets. Terry Fox 09, for cancer research. Call 1-888-836-9786 for more information.

This Sunday, the 30th, there's a half-day Zen meditation retreat, at Ango Retreat, with Peter Levitt. Contact Simon at 250-537-1721 for more details. An opportunity to feed your soul?

If you can't dial in the local radio station (107.9 on your fm dial), then catch them over the web at: cfsi-fm.com Have your ideas for programming? Give them a call!

Winding down summer/gearing up for Fall...it's a hiatius moment. Tread lightly!