ROB DION, BBA
LEE IVANS, BBA
Royal LePage Kelowna
1-1890 Cooper Road
The Bank of Canada announced this morning that it is holding the target for its overnight rate at 0.5 per cent. In the press release accompanying the interest rate decision, the Bank noted that uncertainty in the global economy is undiminished in recent months while Canadian economic growth is evolving as anticipated. On inflation, the Bank cited that although CPI and core inflation have picked up, both measures remain below the Bank's 2 per cent target.
With long-term interest rates jolted upward by the US election, the Bank of Canada is likely content to keep its overnight rate on hold at 0.5 per cent over the next year. That said, the stark unpredictability of the incoming Trump administration on everything from trade to taxes to financial markets means that risk in the economy is tilted to the downside. Therefore, there remains the potential for a rate-cut by the Bank of Canada should economic conditions and the outlook for inflation deteriorate.
“Copyright British Columbia Real Estate Association. Reprinted with permission.”
Property Surveyors, sometimes referred to as land Surveyors, play a vital
role in the real estate world. They are the professionals who determine or
confirm the exact boundaries of a property.
Will you need to deal with a Property Surveyor when selling your home?
Sometimes the mortgage lender will ask for a land survey, especially if your
property is older and hasn’t changed hands in many years. You might also
be asked for one by the buyer if there is any confusion about the size and
boundaries of your property – or if significant changes have been made to it
in recent years.
This is nothing to be concerned about.
A qualified Property Surveyor will do the appropriate inspection and
measurements on your property and issue you the survey. (It looks a little
like a blueprint.)
Property Surveyors are highly trained and licensed. In the United States, the
profession is represented by the National Society of Professional Surveyors,
with each state having its own governing body. In Canada, Professional
Surveyors Canada (PSC) represents the profession nationally, and most
provinces have their own professional associations.
Before getting a new land survey, make sure you don’t already have one.
Hopefully, you’ve stored the paperwork that relates to the purchase of your
home. Look through it. A valid land survey might be right there.
If you have questions about land surveys, call The Dion-Ivans Real Estate Team today!!
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.