The Canadian economy expanded 0.1 per cent in May, after increasing 0.3 per cent in April.  At the industry level, economic growth was driven by a 0.7 per cent increase in retail trade and a 0.5 per cent bounce in finance and insurance output. Real GDP growth was also given a boost by increased mining and oil and gas extraction.  Lagging industries included manufacturing (down 0.5 per cent) and construction (down 0.2 per cent).  The output of real estate agents and brokers fell 4.8 per cent at the national level following three consecutive months of increasing activity.

Canadian real GDP is on track to grow 1.5 to 2.0 per cent in the second quarter of the year, close to the 1.8 per cent forecast by the Bank of Canada and in line with BCREA's own forecast.  The second half of the year holds a number of risks for the Canadian economy, including further Euro uncertainty and a slowdown in the US economy.  We forecast that the Canadian economy will generate modest growth in 2012 of around 2.1 per cent.

Information provided by www.bcrea.bc.ca  

When you’re preparing your house for sale, you want to make sure every room looks its best. But pay particularly close attention to the kitchen. Many buyers will spend a lot of time determining whether or not it meets their needs. In fact, some buyers will even form an impression about the entire property based primarily on how they feel about the kitchen! 

How do you make it look its best?

Start by making sure your kitchen appears as roomy as possible. Put away all countertop appliances, even the toaster and the coffee machine, so that the counter space is completely clear.

Check that your cabinets and pantry shelves aren’t stuffed with dishes, foodstuff and other items. While that’s normal in most family homes, it doesn’t promote the image of plentiful storage space. Clear out as much as you can. Make sure what you leave behind, especially food items, is stored neatly. 

Got a junk drawer? We all do. Empty the contents into a box and stow it away.

Of course, you want to ensure that the kitchen is clean and shiny. The area in and around the sink it critical. There are some excellent specialty cleaners available that will remove even the most stubborn stains in a stainless steel sink.  (Never use steel wool or other abrasive cleaners. They leave unsightly scratches.)

If you have a window over the sink — a great selling feature — make sure it’s especially clean. You can be sure that buyers will linger for a few moments to look through it. 

And, finally, don’t forget the space under the sink. Make sure that the space is as clean — and empty — as possible. 

Want more ideas on preparing your home for sale? Call the Dion-Ivans Group today!!

When you show your home to prospective buyers, there is probably a long list of things you’re hoping they’ll notice. For example, the beautiful chandelier in the foyer, or the spacious backyard and large deck, or the kitchen with the island big enough for a family to sit down for breakfast.

But what about those things you’re hoping buyers will not zero in on?

Every home has some features that are less than enticing to the typical buyer. You may not be able to do much about an unfinished basement or a home backing onto a noisy main street. 

However, there are several things buyers don’t want to see that you can change. Here are five of the most common:

• Clutter. Back rooms in basements filled with boxes and other items. Closets stuffed full of clothes. Rooms crammed with too much furniture. Clutter of any kind makes buyers feel uneasy –and gets in the way of showcasing the wonderful features of your home.
• Maintenance issues. Buyers definitely don’t want to see a lot of things needing repairs or replacement, such as dripping faucets, faded or chipped walls, or overgrown lawns and shrubbery.
• Smells. You can’t see smells, of course. But buyers will notice the lingering aroma of exotic cooking, cigarette smoke, and pets.
• Personal items. Buyers will, of course, understand that a family is living in the home they’re viewing. However, constant reminders – in the form of vacation pictures, bowling trophies, or scattered children’s toys – can make a buyer feel like an intruder.
• You. It’s nothing personal, but buyers prefer to view your home without you in it.

The good news is, all these things can easily be dealt with before you show your home.

Looking for more ideas on selling your home quickly and for the best price? Call the Dion-Ivans Group today!!

There’s a lot of competition in the housing market these days.  When you put your home up for sale, you’re bound to be up against several other similar listings. That’s why it is important to make sure your property is in a good state of repair so that it makes a good impression on potential buyers.  Here are some things that may need your attention or the help of a reputable contractor:

1.   Doorways. Inspect all your entry systems closely. Look for sagging screens, cracked glass, squeaks, and aging or broken aluminum parts. Consider giving your doors a fresh coat of paint.

2.   Roof. Check for missing shingles and have replacements installed where necessary. Also inspect the gutters.  Remove any leaves and other debris that may have accumulated.

3.   Walls. Look for nail pops, holes and dents. Patch and paint where necessary.

4.   Toilets. Make sure all toilets are still secured firmly to the floor and don’t rock when you sit on them. Anchoring nuts tend to corrode over the years. Replace where necessary.

5.   Faucets. Inspect all faucets, including those in the laundry room and other areas. Do you have one that drips? If so, repair or replace it.

6.   Cabinets. Kitchen and bathroom cabinets get scratched and worn in spots over the years. There are many great scratch repair products on the market that can make cabinetry look almost new.

7.   Decks and gates. Any loose boards? Rickety stairs? Sagging gates that you have to lift in order for the latch to close? Buyers will notice. Get them fixed. 

The good news about these types of repairs is that they are relatively inexpensive, yet make your home show significantly better.

Want more ideas for selling your home faster and for the best price? Call the Dion-Ivans Group today!

Below are the results of the Central Okanagan Buyers Survey:

Property Type:
29.3% of purchases were by Move-Up Buyers
22.8% by First Time Buyers
16.8% moving from Single Family Home to Strata Unit
7.6% purchasing Recreation Property  
6.0% buying Revenue/Investment Property
5.4% moving from Strata property to Single Family Home 
4.3% moving into Retirement Home/Seniors Community

Buyer Type (Family Dynamic):
31.8% Two parent family/children
20.8% Couple without children 
16.7% Empty Nesters/Retired 
13.5% Single Female
13.0% Single Male
4.2% Single Parent with children

Moving From: 
55.4% from Within OMREB Board Area
13.0% from Alberta
12.4% from Lower Mainland/Vancouver Island  (up from 7.7% in May) *
10.4% from Other Areas in BC 
3.6% from Saskatchewan/Manitoba  (up from 0.9% in May) *
3.1% from Outside Canada  (1.4% in May)
2.1% from Eastern Canada/Maritimes
0% from NWT/Yukon (10th month reported)

Information provided by www.omreb.com

The Bank of Canada has once again decided to keep its overnight rate at 1 per cent. The statement released this morning in support of the interest rate decision noted that global growth prospects have cooled since the Bank's April Monetary Policy Report and this cooling will restrain Canadian economic activity. However, the bank also noted that domestic factors, and in particular consumption and business investment, will help support moderate growth.  As we expected, the Bank lowered its forecast for economic growth in 2012 from 2.4 per cent to 2.1 per cent and to 2.3 per cent in 2013, which matches BCREA's forecast.  Despite slower growth, the Bank still expects the economy to reach full capacity by the second half of 2013, while inflation will remain at or very close to 2 per cent over the Bank's projection horizon.

Most notable in the Bank's statement accompanying the interest rate decision was that the Bank continues to include language suggesting a modest withdrawal of monetary stimulus (ie. rate increases) as excess slack in the economy is absorbed. This suggests that the Bank's timeline for tightening monetary policy has not been materially changed by ongoing global economic uncertainty or recent changes to Canadian mortgage rules. Absent any serious shocks to the economy we expect the Bank to begin tightening in the first quarter of 2013.

Information provided by www.bcrea.bc.ca

Finding the right home involves more than just finding the right property. The location plays an important role as well.  The last thing you want is to be dazzled into buying what looks like a dream home, only to discover later on that the location makes it inconvenient to get to work, school and other activities. 

So when you see a property you like, take a drive around the area. Drive to the local school your kids will be attending. Drive to the highway you take to work. Drive to activities you and your family enjoy, such as golf, movies, and swimming.

By spending some time exploring the area by car, you’ll get a feel for what life is going to be like living there.