Real Estate News from Peter & Leanne Doyle July 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


 
If you're thinking about buying a condo, there are various personal and financial factors you'll want to consider.  This month’s article examines some of the con-dos and con-don'ts.

There are also a few tips on how to keep your Facebook profile safe from hackers as well as a deliciously simple BBQ dessert that your guests will love!

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 boosts rates by a quarter point.

The Bank of Canada announced on July 12th, 2017 that it was raising its trend-setting overnight lending rate from 0.5% to 0.75%.

The increase partially unwinds the half-percentage point by which the Bank dropped interest rates in early 2015 following the sudden drop in oil prices in late 2014.

When announcing that it was raising rates for the first time in seven years, the Bank recognized that Canadian economic growth has recently been coming in stronger than it had previously predicted and broadly based.

The Bank suggested future rate hikes will depend on whether economic growth continues to broaden and become more sustainable, whether soft readings on inflation prove to be temporary, and whether exports and business investment improve.

Even under these conditions, 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.  That means the Bank will be cautious about further raising interest rates.

As of July 12th, 2017, the Benchmark five-year lending rate used to stress-test mortgage applications stood at 4.64 per cent, which is unchanged from both the previous Bank rate announcement on May 24th and from one year earlier.

That said, Canada’s major chartered banks have recently raised advertised five-year fixed mortgage interest rates by one-fifth of a percent to 2.84 percent which translates into an increase of $50 per month on a $500,000 mortgage loan ($60 of per month on a $600,000 mortgage loan, etc.).

The next interest rate announcement will be on September 6th, 2017.  The next release of the Monetary Policy Report, which will update the Bank’s economic forecast, will be on October 25th, 2017.

Condo Conundrum -- Freedom vs. Freedom 
Consider the pros and cons carefully before purchasing a condo.

Condos appeal to everyone from young urbanites who want to be in the heart of the action to seniors who just want to relax and enjoy their golden years playing tennis and relaxing by the pool.

Families are also starting to gravitate towards condos as they’re an affordable way to escape the suburbs and move to a vibrant downtown atmosphere where various amenities are only steps away.

Aside from being affordable, condos are low maintenance as you don't have to spend your weekends cutting the grass and cleaning the gutters.  They also offer enhanced security features which are perfect for those who like to travel.

Convenience however comes at a price in the form of condo fees which can be costly depending on the amenities offered by the complex.  That said, condos are often very affordable compared to single family homes, especially for those who are downsizing.

When you buy a condo, you don't own the land beneath you but instead share a common interest with others in the complex.  This means you'll be subject to rules and regulations that can dictate anything from the type of planters you’re allowed to display to the kinds of blinds you can hang.

Joint ownership also means you'll be in close contact with your fellow condo owners.  Some people love the sense of community offered by condos but for those who value their privacy, it can be a difficult adjustment.  Pets are another key consideration as Fido may not be welcome in some buildings.

If your real estate vision includes extensive renovations, condo living may not be for you as your options could be limited.  If however you'd rather spend your time chilling by the pool instead of painting shutters, the low maintenance factor may be just what you're after.  It's really a choice of freedom vs. freedom.

Friends, Foes and Facebook Woes 
A few simple precautions can secure your page against hackers.

Imagine if someone hacked into your Facebook account, changed your password and started posting inappropriate content.  You'd be forced to sit and watch your reputation go down the drain.  Here are a few ways to avoid a hack:

  1. ix38wq%Pc - Make sure you have a strong password with a mix of numbers, letters and symbols.

  2. Play Hard to Get - Visit the Privacy section under Settings to limit who's able to view your profile details.

  3. Catch a Hacker Early - Select Settings and then Security and Logins and turn on get alerts about unrecognized logins.

  4. Extra Security - Visit Two-Factor Authentication in the Security and Logins section to choose an extra layer of security.

  5. Best Friends - Designate a few friends under Your Trusted Contacts that can help you get back into your account if you get locked out.

Facebook has various security features but they usually have to be manually activated.  Once done though, it’ll be much harder for a hacker to gain access to your account and much easier for you to regain control in the event it does happen.

Delicious Grilled Skewered Fruit Recipe 
Mix things up on the grill with a healthy, tantalizing dessert!

The heat of the grill turns fruit into juicy, sweet goodness that’s a great finale to any meal.  Here’s what you’ll need to make this simple yet healthy, delicious dessert:

  • skewers
  • 1/4 cup honey
  • 1/4 teaspoon ground cinnamon
  • melted chocolate
  • an assortment of fruit (pineapple, peaches, mangos, etc)

Lightly oil the grill and preheat the BBQ to medium.  Cut up the fruit and thread onto skewers.  Grill for a couple of minutes per side.  Finally, pick your preference of the honey/cinnamon mixture or melted chocolate and drizzle over top just before serving.  Enjoy!



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.