Real Estate News from Jason Andreola May 2019   
  Real Estate News




Jason Andreola
Managing Broker

Royal LePage East Kootenay Realty
561A HYW #3
Fernie, BC
250-423-1645 or 1-888-870-9064
www.FernieRealty.com


 
Spring is usually a very busy time for home sales! This month's article discusses how you can use spring's natural beauty to enhance your home's resale potential.

There are also some tips that'll help you determine whether or not someone's telling you the truth as well as a few social media spring cleaning strategies to help you keep your digital world in check.

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!

Jason

In this issue...
Bank of Canada Rate Update 
Bank of Canada contines to keep interest rates on hold.

In line with financial market expectations, the Bank of Canada announced on April 24th, 2019 that it was keeping its trend-setting overnight lending rate unchanged at 1.75%.

This marks the fourth straight interest rate decision where the Bank have kept rates unchanged.

The announcement acknowledged the Canadian economy has slowed by more than what was previously forecasted; however, the Bank expects economic growth to pick up in the second quarter of 2019.

Nonetheless, it highlighted weak household spending, oil prices, and global trade policy as risks to Canadian economic growth and that these factors warrant close monitoring.

The extent that these factors continue to weigh on Canadian economic growth will continue to pace the Bank’s eagerness to raise interest rates any further. Immediately following the Bank’s announcement, financial markets further increased bets that interest rates will remain on hold over the rest of 2019.

On April 24th, the benchmark five-year lending rate was still 5.34%, where it has been since May 2018. This is 0.2% higher than one year ago and 0.5% above the longer-term average from mid-2014 to now. All mortgage applicants must qualify for financing based on an interest rate no less than the benchmark five-year lending rate, even if the mortgage is for less than five years.

Canada’s major chartered banks are currently advertising five-year fixed mortgage interest rates ranging from 3.29% to 5.34%. 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 Bank of Canada’s next interest rate announcement will be on May 29th, 2019 which will come almost two weeks after the publication of its Financial System Review, which updates the Bank’s analysis of the resilience of the Canadian financial system.

A Few Tips that Spring to Mind 
If you're thinking of selling your home, springtime's the perfect time!

Home sales usually surge come springtime as the fresh, sunny weather encourages people to fix up their homes and check out what else is on the market. Here are a few ways to take advantage of spring fever:

  1. Flower Power - Place a few vases of fresh cut flowers throughout your home.

  2. Clutter Control - Decide what needs to be tossed out and what can be donated.

  3. Spring Fling - Once you've decluttered, freshen up your home with a thorough spring clean.

  4. Wide Open - Clean and then open your windows so the sun shines in and fresh spring air flows throughout your home.

  5. Refresh Your Nest - Inject vitality into your space by swapping out couch cushions, throws and towels with shades and fabrics that reflect the spring season.

  6. Outdoor Living - Families are entertaining more at home than ever before so extend your inside space outdoors with comfortable seating and ambient lighting.

  7. Curb Appeal - The spring naturally highlights your yard's best features so prune trees, trim shrubs, rake the grass and add flower pots around the front door.

If you plan on putting your home on the market, use the spring season to highlight its best features so it stands out from the competition. You only have one chance to make a great first impression, so clear out the cobwebs and make your home spring fresh!

The Language of Lying 
Here are a few tell-tale signs to help you recognize tall tales!

One of the most effective ways to determine whether or not someone's lying is to examine their body language and speech patterns. Here are a few tips that'll help turn you into a human lie detector:

  1. Um, Err - Liars often mispronounce words, stutter or sniff due to nervous tension.

  2. Tick Tock - Deceptive answers usually take longer to formulate than truthful ones.

  3. Cover Up - Covering the mouth and rubbing the nose and eyes can indicate untruthfulness.

  4. Pivoting - Liars welcome a change in conversation resulting in their body language becoming more relaxed.

  5. Fade Away - Their body will start to scrunch up as if they're trying to fade away and any movement will be stiff and limited.

  6. Pick Pocket - Showing palms is a sign of honesty so people who are fibbing will often put their hands in their pockets and fidget.

  7. Look at Me - Liars usually avoid eye contact while seasoned pros will overcompensate and maintain deliberate eye contact.

Detecting deceit isn't always easy as some people are better liars than others. Asking questions can help determine whether or not someone's lying as it's difficult to fabricate specific details on the spot. A single tell may mean nothing but when combined together, chances are they're hiding something.

Social Media Spring Cleaning 
It's not just your closets that could do with a good spring clean!

Whether you're on Facebook, Twitter or Instagram, it's good to get in the habit of performing regular maintenance on your accounts. The following tips will help you clean out the digital cobwebs:

  1. Safe & Secure - Change your passwords and beef up security settings.

  2. Perfect Privacy - Review your privacy settings and adjust if necessary.

  3. Hack Attack - Back up your Facebook page in case your account gets hacked.

  4. Clear the Clutter - Unfollow or unfriend those you no longer keep in touch with.

  5. Lock Down - Update the recovery details that are associated with each account.

While you're in clean-up mode, go through your phone and delete any apps you no longer use. Most apps require access to your personal details so the fewer you have, the more privacy you'll gain.



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


Not meant to solicit clients already under contract.