The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation continues to evolve in-line with the Bank of Canada's forecast while economic activity continues to be underpinned by solid household spending and strong demand from the US economy. 

With the economy seemingly improving and core inflation still holding firm near the Bank's 2 per cent target, policymakers opted to stay the course and allow recent loosening of monetary policy to work its way through the system.  We expect that growth will pick-up in the second half of the year, helped out by an acceleration of the US economy and stable oil prices.  That should translate to no further action by the Bank of Canada in 2015, though recent volatility in global financial markets could prompt a shift in thinking.  That said, central banks prefer to avoid bringing interest rate close to the so-called zero lower bound. Therefore, in the absence of a major financial or economic shock, the Bank will likely hold rates constant until a healthy and sustainable rate of economic growth resumes. 

“Copyright British Columbia Real Estate Association. Reprinted with permission.”

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If you see a haze of condensation on your window, should you be concerned? Maybe. Maybe not. It depends on a number of factors.

First of all, an occasional build-up of condensation is normal and often the result of fluctuating humidity in the home. Usually, it’s nothing to worry about. If you’re using a humidifier, try adjusting the levels. If the humidity is being generated naturally, try placing a dehumidifier nearby. Also, remove any plants and firewood from the area, as they can release a surprising volume of moisture into the air.

Do you see moisture in between the panes of glass that make up the window? If so, that means the seal has failed and moisture has crept in. Double and triple pane windows often contain a gas (argon, for example) that boosts the insulating qualities of the window. When the seal fails, the gas disappears, making the glass colder and often allowing condensation to creep in. Eventually, you’ll want to get it replaced.

If you see moisture build-up anywhere on the frame of the window, particularly at the joints, that could be a sign of water leaking through. That’s an issue you should get checked out immediately by a window contractor.

For more information contact The Dion-Ivans Real Estate Team today!!

If you take care to price your home correctly — that is, at a price that is in line with what similar properties in the area have sold for recently — then you have a good chance of selling it at or near your asking price.

That doesn’t mean you won’t get a low-ball offer. You might. So what do you do when that happens?

First, understand that the buyer may not necessarily be trying to steal away your home at a bargain-basement price. He might simply be mistaken about its true market value. Of course, he might also be coming in at a low price in the hopes he’ll get lucky.

You will never actually know the buyer’s motives. So it would be a mistake to get angry or dismiss the offer out-of-hand. That low-ball offer might end up being the beginning of a negotiation that results in you selling your home at a good price.

Your first step is to work with your REALTOR® to determine:

• How serious the buyer is.
• How qualified the buyer is. (For example, does he have a pre-approved mortgage?)
• How amenable the buyer is to a counter-offer that reflects the true market value of your home.
• What that counter-offer should be.

This isn’t an easy process. It takes knowledge and experience to get it right. That’s why working with a good REALTOR® is essential.

Looking for a REALTOR® who is an expert at this stuff? Call The Dion-Ivans Real Estate Team today!!