Real Estate News from Peter & Leanne Doyle January 2019   
  Real Estate News




Peter & Leanne Doyle
Sales Reps

Desert Hills Realty Inc.
867 Victoria St.
Kamloops, BC
250-371-1119 (direct)
778 220 1124
www.KamloopsListings.com


 
Pursuing a job opportunity in a new city can evoke a variety of emotions. If you're thinking about relocating, this month's article offers some great advice that’ll help make the transition go smoothly.

There are also a few handy home hacks that will help make your life a little easier as well as some great reasons why you should switch your phone to airplane mode every once in a while.

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 Rate Update 
Bank of Canada keeps rates on hold in January.

In line with financial market expectations, the Bank of Canada announced on January 9, 2019 that it was keeping its trend-setting overnight lending rate unchanged at 1.75%.

The Bank’s announcement lowered its previous forecast for Canadian economic growth in 2019 due to several factors, including slower expected global economic growth amid continuing trade disputes between the United States and China and lower than expected oil prices.

The Bank acknowledged that overall inflationary pressures remain low and may fall further due to increased uncertainty in the global economy. This may cause the Bank to raise rates more slowly than previously anticipated.

The bottom line is that while the Bank still thinks its overnight rate will rise to the “neutral range” – which may be lower than it had previously anticipated – the Bank will use the strength of economic data determine to gauge how quickly it raises interest rates.

As of January 9th, the benchmark five-year lending rate was still 5.34%, where it has been since May. This is 0.35% above where it stood a year ago and 0.7% above where it was from mid-2015 through mid-2017. As of January 1, 2018, all mortgage applicants must qualify for financing based on an interest rate no less than the benchmark five-year lending rate.

Canada’s major chartered banks are currently advertising five-year fixed mortgage interest rates ranging from 3.89% to 5.59%. Homebuyers can often negotiate a rate below lenders’ advertised rates depending on their creditworthiness and the degree to which they do other banking business with the mortgage lender.

The next interest rate announcement will be on March 6, 2019. The next update to the Monetary Policy Report which includes the Bank’s outlook for the economy and inflation will be April 24, 2019.

Relocation, Relocation, Relocation 
Relocating to a new city can be an exciting yet overwhelming time.

The prospect of a work relocation means you'll need to be well organized as there’s usually not much time to get acquainted with your new area.

First off, determine what the cost of living will be in the new location. There's no point in relocating for a higher salary if the extra income will be eaten up by increased living expenses.

Make sure to also consider factors such as workload, expense accounts, travel expectations, job opportunities for your spouse and schools for the kids. Here are a few other points to keep in mind:

  1. Time is Money - Create a budget and a detailed timeline to help you stay on track.

  2. Recon Mission - Plan a trip to familiarize yourself with the local area or check out a few community websites if it's too far to preview in person.

  3. Check Yourself - A detailed checklist will help ensure everything goes smoothly which will reduce the stress that’s associated with a major move.

  4. Smooth Move - Select a real estate agent to sell your home and ask them to refer you to an agent in your new city who can help familiarize you with the local market.

  5. Take the Credit - Employers often provide relocation packages to help offset expenses such as temporary housing and moving costs. There may also be certain tax credits available.

Deciding whether or not to relocate can be very stressful. Not only are you trying to negotiate a career move but you'll also be starting a new life in an unfamiliar place. However, if you approach this process by paying close attention to all the details, you'll enjoy a much more positive relocation experience. Please don’t hesitate to get in touch if you have questions or need any real estate advice!

Handy Home Hacks 
These simple yet genius tricks will make your life so much easier!

Hacks are uncommon yet creative solutions for everyday problems. Here are five simple hacks for the home that will help make your life a whole lot easier:

  1. Towel Tip - Adding a dry towel to a load of wet laundry significantly reduces drying time which also cuts down on energy use.


  2. Sharpie Stain - If your child has decorated your hardwood floors with a magic marker, apply a bit of toothpaste with a damp cloth and watch it disappear!


  3. Blend Away - To remove stubborn stains from your blender, mix lemon juice and warm water with a tiny bit of dishwashing liquid and then blend for a minute.


  4. Watch Your Step - We all know that sinking feeling when a glass shatters leaving tiny shards everywhere. To make sure you get every last sliver, press a slice of bread over the entire area.

  5. Silence Squeaks - If your creaky wooden floors make you feel like you’re living in a haunted house, just sprinkle some baby powder between any open seams to lubricate the wood and stop the squeaking.

We all want an easier life and home hacks are a great way to accomplish that as they allow you to bypass and overcome some of life’s little problems. There are literally thousands of hacks out there so watch this space for cleaning, organizing and other life hacks that we’ll be sharing in future newsletters!

Switching to Airplane Mode 
If you think airplane mode is only for flying, then think again!

Airplane mode blocks your connection to cellular networks when you take to the skies but there are many other lesser known benefits to this often ignored feature.

Airplane mode also saves battery life, charges a phone quicker and it will even stop those annoying ads from displaying when you’re playing Candy Crush!

Smartphones can also be extremely distracting so if you’re down to the wire on a project, simply switch over to airplane mode for a quick notification detox so you can focus and get your work done.

Finally, if you’re concerned about electromagnetic field radiation, set your phone to airplane mode when your smartphone’s not being used for wireless transmissions as it will completely cut off any form of radiation.



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.