The Bank of Canada increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is continuing its reinvestment phase, keeping its overall holdings of Government of Canada bonds on its balance sheet roughly constant until such time as it becomes appropriate to allow the size of its balance sheet to decline.
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Bank of Canada increases policy interest rate
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Residential Market Commentary - The war and interest rates
This week’s interest rate announcement by the Bank of Canada was almost universally expected to bring an increase; probably 0.25% but possibly as much as 0.50%.
Then Russia invaded Ukraine.
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LISTINGS TO BUYERS LEVELING
Happy New Year! It is still new, isn’t it?
The Fraser Valley Real Estate Board reports a balancing in the market for this past January 2022, with more listings.
Good news for buyers with more to choose from than previously.While I certainly have hit the ground running, I have my fair share of buyers and I am looking forward to my first seller for 2022. Could it be you? Call me.
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It’s That Time Of The Year Again!
#CNOY22. Please join me in raising money for local residents experiencing hurt, hunger and homelessness.
Due to Covid restrictions, we are doing a socially distanced walk, 2 or 5 Km, Feb 25 - 27Partner through my office, HomeLife Benchmark Realty corp White Rock or sponsor me directly. Any support is good support.
Thank you
Event details here.Click Here To Read The Full Article »
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Season’s Greetings From Leanne deSouza Personal Real Estate Corp.
Leanne deSouza Personal Real Estate Corp wishes you and your family a wonderful Holiday Season and a happy, healthy, and peaceful New Year 2022!
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Steady as she goes, captain!
I can’t help but think of Mr. Sulu’s famous line to describe this past August’s Lower Mainland BC’s steady housing market, a continuation of what I wrote last month. And just like last month, the demand (buyers) out-numbers the supply (homes), yet sales remain steady. If the August housing market of 2021 were a movie, we could call it “July part II”.
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July 2021, Slow & Steady
Like Aesop’s winning tortoise, July 2021’s market was slow & steady (comparatively speaking to previous markets, and in 40 years!). It’s additionally an appropriate metaphor considering he’s a critter with his home on his back. Home buyers outnumbered home sellers as I remained busy with both, yet we might account for (as we say in Real Estate) “low inventory” due to the much deserved need for us to get away during this unprecedented historical period. You can learn all about it as I did in this month’s Fraser Valley Real Estate Board’s Statistics. Here’s hoping all the best that we enjoy the rest of the summer safely and securely. -Leanne
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A “Boil to a Simmer”
To borrow a metaphor from this month’s Fraser Valley Real Estate Board's Marketing Statistic article.
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VIDEO: Our record-breaking sales streak continued in May, but there are signs change is underway
Original Article Source Credits: http://news.fvreb.bc.ca/
Article Written By: N/A
Original Article Posted on: June 16, 2021
Link to Original Article: http://news.fvreb.bc.ca/tips-tools/video-our-record-breaking-sales-streak-continued-in-may-but-there-are-signs-change-is-underway/
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Homes’ Supply Playing Catch-up to Demand
The Fraser Valley Real Estate Board reports sales have more than doubled since last year at this same time with an ever-increasing homes listed on the market to a buyer demand that remains the same.
Will it turn into a buyer’s market?
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Take Control of Your Mortgage Life Insurance Protection
Whether or not you are buying your first home, there is often one step the weary home owner may overlook. Just one more decision in an already long line of decisions made. The offer for Mortgage Insurance Protection. What is it anyway, and why do I need it? The short answer is your lender may require you to have life insurance in place to cover the mortgage in the event the Mortgager (you) passes away before the mortgage is paid off. The lender wants the full mortgage paid off in the event of a death. Seems reasonable considering that a spouse may not qualify for a loan on their own, or continue to pay through the life of the mortgage for that matter. As a result they would like to know the mortgage will be paid in full. End of story.
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A “change in pace” and return to normalcy in the near future?
While I am still “crazy busy” amidst regional record-breaking sales, are there signs of things slowing down? Still exponentially higher in sales than a year ago and breaking a record stretch since 2015 to 2016, there was a slight decrease since March 2021.
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Spring Market - Burst of new life
Well, the Spring market is bustling. In fact, Spring came early to our real estate market. I have lived through many a busy real estate market since 1988, which even back then was fast and furious, but this current market has beaten every previous market record. For those fortunate enough to remain working, and with the record breaking interest rates, this pandemic has made people spend their spare time house hunting. Perhaps it is the fact that many families have had more time at home that they have decided it is time to look for a new one; a “change of scenery” to accommodate the life style of this past year, that may remain with us after this pandemic.
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Upscale Downsizing
Today, I have a very special guest, Marilee Congo.
Our serendipitous meeting was many years ago when her daughter tutored our daughter. I would not only discover her amazing talent, but also a friendship. As downsizing is a large aspect of my clientele’s needs, Marilee and her husband Jon have been an invaluable prime resource for recommending to my sellers for staging & renovation through their business Upscale Downsizing:
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Record breaking sales for February
The real estate market is currently experiencing the highest sales level never seen before in the last 100 years of the Fraser Valley for the 6th month in a row.
Chris Shields, President of the Fraser Valley Real Estate Board viewpoint of this month’s record numbers, “This is new territory for us. We have never seen such consistent and persistent demand for housing in the Fraser Valley.
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BC Property Tax Assessment and Market Value
You may have recently received your 2020 property BC tax assessment in the mail in the start of this new year (2021). Typically, these assessments reflect the values they determined back in July. There is a lot of confusion whether assessment values reflect current market values. Part of my service as a realtor, is to help my clients stay up to date with their home and market conditions. Should you wish to discuss your recent tax assessments in the mail, please do not hesitate to pick up the phone and call me to discuss. In the meantime, here are some interesting facts about how tax assessments are determined.
(Quoted from BC Assessment site)Click Here To Read The Full Article »
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Despite The Pandemic
In Real Estate terms, 2020 went out with bang. Sales were higher than average in 10 years in the Fraser Valley! Despite the global pandemic, it’s apparent that those who can still transact in Real Estate will. Motivating factors for a move don’t seem to go away for those who are fortunate enough to still have the resources. From my personal point of view, the type of Real Estate consumer really hasn’t changed much from the pre Covid-19 days.
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Doing Real Estate During The Covid-19 Pandemic
It is tough to predict how Covid-19 will impact business in the next six months. Yet currently, it seems to be “business as usual” for me, “usual” being a relative term. I currently maintain listings but how Covid-19 impacts the Real Estate business here in British Columbia is dependent on the same factors it will affect everyone around the world. As it is, I am grateful for the technology such as secure e-signing and video conferencing, 21st-century conveniences that were unimaginable when I started that now help to mitigate the risks of spreading the virus. Until things are better, Realtors® will continue to follow our board’s mandated health protocols that are in place: masking, limited essential viewers, social distancing, cleaning before & after showings and... NO ON-SITES OPEN HOUSES! The BCREA and Fraser Valley Board has mandated no open houses and strict rules to view properties, including limiting people visiting a property to view. Appraisals and inspections are often done remotely or with very limited numbers of people allowed present in a property.
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Housing Market Snapshot for October 2020
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BCREA Housing Market Update (November 2020)
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