July 2018 Newsletter Introduction

Hello Again Friends –  

I hope everyone was feeling patriotic a couple weeks ago to celebrate Canada Day! As usual, I missed out on my city’s fireworks!!! I have lived in neighbourhood for 3 years, and I have yet to see it once! June flew by so quickly with many changes to adapt and new challenges. As one may have noticed, the Real Estate Council of BC have implemented to eliminate the Limited Dual Agency, and increase more awareness and transparency for both buyers and sellers when it came to transactional dealings. As you have noticed, Bank of Canada have strike again to increase interest rate by another 1.5% which isn’t something we weren’t surprised to see, since we were all holding our breath and see how it will affect the real estate market. The good news out of this is that this is the only interest hike we’ll see for the rest of the year…YAY….(>0<“) As you may notice, it’s a general buyer’s market at the moment where detached homes transactions are slower and is on the market longer. Whereas condo’s are still competitive but buyer have more time to decide. 

– Sam