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Office [250] 590 – 8040 Fax [250] 727 -0193
Email: info@phunghorwood.com
Mailing Address
#114 – 1537 Hillside Avenue,
Victoria B.C. V8T 2C1

Real Estate Appraisers & Consultants*

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    Regions Served

    Phung Horwood is pleased to offer appraisal and consulting services as well as Depreciation Reports for Strata Corporations to the Greater Victoria and Lower Vancouver Island areas.  
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    Our Team

    Our team has over 40 years of collective experience in the areas of commercial real estate valuation, financial projection and analysis and construction.  We pride ourselves on providing well researched, high quality reports, which are consistent with the standards required by the Appraisal Institute of Canada (AIC) as well as the Real Estate Institute of Canada (REIC).  

  • Market Value (IC&I)
    Appraisals

    Phung Horwood has extensive experience providing reliable and thorough market value appraisals and consulting services for a number of different types of properties. Our team is ready to provide your report today.
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    Insurance Appraisals

    Insurance appraisals are necessary to estimate the current replacement cost of a property to assist in securing the appropriate amount of insurance. Phung Horwood ensures an accurate valuation of improvements to protect clients from over or under insured assets.  
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    Depreciation Reports

    A Depreciation Report (Reserve Fund Study) is first and foremost a financial planning process that is intended to analyze, assess and plan the funding for Contingency Reserves.  The purpose of this analysis is to identify the funding needs within the Contingency Reserve Fund, in order to make recommendations to ensure that sufficient funding is available for future repairs and replacement of the common building elements or assets of a Strata Corporation.  

Timely and High Quality Reports For a Diverse Range of Real Estate Needs

Phung Horwood is a Victoria based appraisal and Depreciation Report provider that services Greater Victoria and Lower Vancouver Island. Whether you require an appraisal, a Depreciation Report or consulting services, our team is ready to assist you in a timely, professional manner. Protect your asset(s) by securing one of our knowledgeable local appraisers or Reserve Fund professionals today.

2nd and 3rd Cycles Well Under Way

While many Strata Corporations have now obtained their initial or second Depreciation Report, others continue to waive the requirement by way of a 3/4 (75%) vote.

As Depreciation Reports become more and more prevalent within the Greater Victoria Real Estate Market, Strata Corporations are becoming more aware of their value as a tool to help ensure the long term health of their asset.  With some time having past since the implementation of the legislation in December 2011, all affected Stratas have had more time to review and analyze the implications of the new requirement. Additionally, with a greater number of reports in existence and available to prospective owners, Strata Corporations are able to make a more informed decision as to a service provider and the differing approaches to Depreciation Reports. As the second and third cycles continue, those that have previously waived the Depreciation Report may now wish to have a report prepared on their behalf by a qualified professional.

Contact Phung Horwood today for a no-obligation Depreciation Report quote or for answers to your questions.

From the Blog

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