The Bank of Canada maintained its target for the overnight rate at 1 per cent this morning. In the statement accompanying the decision, the Bank noted that the Canadian economy is evolving as expected, with growth slowing in the second half of the year.   On inflation, the Bank expects the continued absorption of economic slack to push core inflation higher in subsequent months.  Importantly, the Bank concluded its statement by noting that rate increases will be required over time, though it will proceed with caution as it assesses the economy’s sensitivity to higher rates.

Although the Bank of Canada has a bias toward raising rates over the next 12 months, it is currently sidelined by low inflation as well as concerns over how higher interest rates will interact with elevated household debt levels.  We anticipate the Bank will remain on hold in early 2018 as it assesses the impact of the forthcoming mortgage stress test, but will look to raise rates one or two times in the second half of next year.

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

Imagine you were selling your car, and a prospective buyer was on the way
over to see it. What would you do? You would probably make your vehicle
look as clean and shiny as possible, inside and out.
The same holds true if you’re selling your home and there’s a potential
buyer on the way. You want the buyer to be wow’d by your property. Here’s
a handy checklist to follow:
• Clean every room. Make your entire house look as “guest ready” as
possible.
• As much as is feasible given the time, reduce clutter. Consider
packing some items into boxes and storing them in the basement or
garage.
• Get pets out of the house. You can take them for a walk, have a
neighbour watch them, or take them to a good kennel.
• Turn on the lights, even during the day. You want each room to look
bright.
• If there are any maintenance issues, such as a dripping faucet, let
your Realtor know. Often, it’s best for buyers to be told rather than
discover such issues themselves.
• Open the curtains, except in those rooms where the sun will be
uncomfortably strong during the viewing.
• Move your vehicles from the driveway so the buyer can park there.
(That can help them imagine living there, which is what you want!)
• Make sure your foyer is especially clean and uncluttered. It’s the first
“room” the buyer visits.
• Avoid cooking just before a viewing. Even if the meal is wonderful, the
aroma may linger. (Some people don’t like the smell of certain dishes,
such as fish.)
• Freshen up the outdoor space. Mow the lawn. Sweep the walkway.
This viewing checklist will help you prepare your home quickly, so when the
buyer comes in your front door, there’s a much better chance he or she will
be impressed.

Want more tips? Contact The Dion-Ivans Real Estate Team today!!!