Real Estate News from Peter & Leanne Doyle September 2017   
  Real Estate News




Peter & Leanne Doyle
Sales Reps

Desert Hills Realty Inc.
867 Victoria St.
Kamloops, BC
250-371-1119 (direct)
www.KamloopsListings.com


 
Does your home sometimes feel a little cramped?  If so, this month's article has some terrific space saving strategies that will help you get the most out of your square footage!

There's also some great advice on how to keep your plants lean and green as well as a reminder about the dangers of radon and how it can affect your family's health.

Thanks so much for checking out this month's newsletter.  Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

Peter & Leanne

In this issue...
Bank of Canada Interest Rate Update 
The Bank of Canada raises rates once again, now at 1%.

The Bank of Canada announced on September 6, 2017, it was further raising its trend-setting overnight lending rate from 0.75% to 1%.

The rate rose by 0.25% in July, meaning the latest September increase fully unwinds the half-percentage point by which the Bank dropped interest rates in early 2015 after oil prices suddenly dropped in late 2014.

The Bank recognized Canadian economic growth continues to come in stronger and more broadly based than it had previously predicted, just as it did in July, when rates rose for the first time in seven years.  Even so, the Bank is still suggesting the pace for future rate hikes "will be guided by incoming economic data and financial market developments as they inform the outlook for inflation."

The Bank said it remains wary about risks to the Canadian economic outlook posed by protectionist U.S. trade policy and high Canadian household indebtedness.  This means it will remain cautious about making further interest rate increases.

As of September 6, 2017, the benchmark five-year lending rate stood at 4.84%, which is the rate used to qualify mortgages with less than a 20% down payment.  The rate is 0.2% higher than when the Bank made its previous interest rate announcement on July 12 and versus one year ago.

Canada's major chartered banks have recently raised their advertised five-year fixed mortgage interest rates, which now range between 2.99% and 4.84%.  However, actual five-year fixed mortgage interest rates can be negotiated below advertised rates depending on mortgage applicants' creditworthiness and the degree to which they do other banking business with the mortgage lender.

The next interest rate announcement will be on October 25, 2017.  The Bank of Canada's next Monetary Policy Report, which updates the Bank's economic forecast, will be released on the same date.

Thinking Big in Small Spaces 
With a little help, you can still live large in a small space!

If you live in a small space, it’s important that you don’t feel boxed in.  The following tips will help transform your cramped quarters into something more expansive:

  1. Shady Solutions - Painting walls a soft shade and the ceiling bright white will give the illusion of added height.

  2. Is That a Door In Your Pocket? - Installing pocket doors is an easy and inexpensive way to create lots of extra useable space.

  3. Lighten Up - Keep window areas clear of heavy drapes to expand wall area and let the sun shine in as it helps a space feel larger.

  4. Mirror Mirror - Strategically placed mirrors will create the illusion of added space and they’ll also reflect light into adjoining rooms.

  5. Cut a Rug - Having the same type of flooring throughout your home will make it feel more spacious so avoid using too many area rugs.

  6. Hide & Seek - Maximize every hidden space you have by using shelving pockets behind doors or bed risers for that all important under the bed storage.

  7. Cut the Clutter - Have a place for everything so that the surfaces in your home don’t get cluttered.  Storage baskets for example are great for hiding remotes & magazines.

  8. Open Up - Arrange your furniture so you can see as much of the floor as possible.  Rooms with blocked views can feel cramped so move furniture away from entrances.

Whether you're getting ready to put your home on the market or you just want to create more space for yourself, these easy and inexpensive tips will help give you a little extra breathing room.  By thinking big and getting creative, you can comfortably live large in even the smallest of spaces.

How to Keep your Houseplants Lean and Green 
A few houseplants will offer your home a breath of fresh air!

Houseplants are visually appealing and also improve our home's air quality by adding oxygen and removing harmful pollutants.  Here are a few hardy plants that will thrive in any environment:

  1. Spider Plants (Chlorophytum comosum) are great for beginners as they’re almost impossible to kill and they also look great in hanging baskets.

  2. Cast Iron Plants (Aspidistra elatior) are foolproof as they only require dim light and don’t need much water.

  3. The Lucky Bamboo (Dracaena sanderana) simply stands in water and has been used by the Chinese for centuries in the art of feng shui to create harmony in the home.

Accidental drowning is a leading cause of death for houseplants.  Water them thoroughly but make sure there are drainage holes so excess water can escape as you don’t want your plants to be sitting in water.

Improper lighting is another reason why promising young plants become statistics.  It's important to match the lighting needs of plants with the amount of light you have to offer.

Houseplants are a simple and cost-effective way to infuse natural, serene style into your home.  Better yet, research suggests they reduce stress and cold related illnesses and also increase our energy levels so go out today and outfit your home with some of nature's lean mean green machines!

The Lowdown on Radon 
Do you know if you and your family are protected against radon?

Radon is an invisible radioactive gas that occurs naturally in the environment from the breakdown of uranium in soil and rocks.

It doesn't present a concern outdoors but when radon becomes trapped inside a house, it can be very harmful to your health as it increases the risk of lung cancer.

Radon can seep into your home through gaps in floors, walls and foundations.  The only way to know if you have high radon levels is to purchase an inexpensive testing kit or to install a radon detector.

Radon concentrations vary from home to home so don't take any chances -- protect your family by testing your home for radon today.



PS Are you sick of scouring the paper and MLS sites looking for homes?  Tired of playing telephone tag with agents only to hear the home's already sold?  Sit back, relax and let me do the work for you!  Just visit our website and check off the features you're looking for.  Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home.

Not meant to solicit clients already under contract.