Real Estate Blog

 

COVID-19 has hit 2020 like a wrecking ball, slowly making its way across borders. Social distancing has us all pressing pause, letting go of priorities in favour of time spent indoors, connected only though our screens. Alas, in the real estate market, even amid a global pandemic, there are still sellers who need to sell, and buyers who need to buy.

Lucky for us, in this age of technological glory, real estate agents have access to some great solutions to ensure that processes remain safe, and transactions can continue to take place. This too will pass, and in the meantime, we can all use a little creativity to ensure that our brief pauses don’t turn into a full stop.

Great News for Buyers

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The Bank of Canada (BoC) has announced an emergency rate cut to its trend-setting Overnight Lending Rate, as the Canadian government moves to reduce the economic repercussions of the COVID-19 pandemic. 

In an unscheduled announcement on March 13, the central bank revealed it was cutting its interest rate to 0.75% – the second 50-basis-point cut this month. BoC Governor Stephen Poloz stated it was a “proactive measure”, as the Canadian economy grapples with the impact of the virus, along with the social distancing measures now put in place to stop its spread. As well, recently plummeting oil prices contributed to the decision to slash the cost of borrowing.

“It is clear that the spread of the coronavirus is having serious consequences for

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Bank of Canada Cuts Rate 0.5%

It appears lower mortgage rates are on the way – in its first downward movement since 2015, the Bank of Canada (BoC) has cut its trend-setting Overnight Lending Rate by 0.5% to 1.25%. That’s to an extent not seen since the 2008 – 2009 global financial crisis, and comes as a direct response to the economic fallout from the spread of the coronavirus COVID-19. 

The BoC says that while Canada’s economy has been performing well and that inflation remains on track, “the COVID-19 virus is a material negative shock to the Canadian and global outlooks and monetary and fiscal authorities are responding.”

Central Banks Around the World Responding to Virus Risk

The BoC’s cut comes

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Living in a tiny home has its perks: it’s easier to housekeep, it has a charming, intimate feel, and it’s harder to lose stuff. On the downside, storage space is limited, and having many belongings can result in a cluttered look. You have to get creative and find all sorts of imaginative ways to store your possessions. 

Solutions do exist, and we’ve compiled a list of seven storage hacks that are both practical and stylish. They are also non-disruptive, so they are perfect even if you’re renting your apartment, or you don’t want to commit to a change in your home. 

Shoe Storage Benches

The first instinct when it comes to shoes is to hide them from sight. A different solution is to make them the focal point of your apartment’s entry hall. A

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When you got married or had kids, you probably had dreams about all of the things you were going to provide to your family. We’re talking about that house with the white picket fence, those annual vacations under the sun, and even the pricey tech toys every other kid at school already has.

But you know as well as we do that giving your family a great quality of life costs money. And unfortunately, money doesn’t grow on trees. So you probably have a mortgage to cover your home, credit cards to pay for daily expenses, and maybe even a loan for your car. 

And for this reason, there’s something you may be wondering: “What happens to all of this debt when I die?” 

After all, when you’re working hard to give your family the best life possible, the

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Starting in April, the government will change the rules that cover mortgage lending in a way that should, in the short term at least, make it easier to qualify for a loan to buy a home.

The Department of Finance says that as of April 6, the so-called "stress test" for mortgages will be calculated in a new way.

The stress test was implemented in January 2018 as a way to let some of the speculation out of the housing market at the time. It does so by making sure borrowers will be able to pay down their debts even if rates move higher. A would-be borrower is tested against his or her ability to pay down the loan at a higher interest rate, and if the borrower fails the test, a lender isn't allowed to loan them money.

The rules had the effect of

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You know what’s great about really bad winter weather? It forces you to spend more time indoors and give your home some TLC. When you’ve finished Netflix bingeing and need to stretch your legs, take a quick tour of your home with a notebook and make a list of things that need fixing. 

Here are 16 winter home maintenance tips to save time and money that you can DIY or have someone who specializes in local handyman services do the work for you. 

  • Test smoke and carbon monoxide detectors to ensure they’re working. Replace the batteries if necessary.
  • Check weather stripping around doors and windows and replace if they’re coming loose or you feel a draft.
  • Change your furnace filter so it continues to block dust and debris.
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 RE/MAX REAL ESTATE-LETHBRIDGE our 40th Anniversary and now the opportunity to win $10,000!!!

Not only will we be celebrating our 40th Anniversary..... In 2020, we will be giving away $10,000!!!!!! Beginning January, anyone who uses our RE/MAX Brokerage and Agents to Buy or Sell, will be entered for a chance to win. *Start Date Jan 1st/2020 and end Date will be Dec 1st/2020 with Dec 15th draw date
*Clients of RE/MAX that have their deal go "Final" during this period will qualify
*Both Buyers and Seller sides qualify
*No Exceptions to the qualifying date (Final Sales only)
*$10,000 prize will be provided by RE/MAX Real Estate-Lethbridge some terms and conditions apply CONTACT ME FOR FULL DETAILS  CONTACT US SIGN UP AS A BUYER…
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By: Renohood

You know how good it feels to wake up to a nice sunny day: it improves your mood and gives you a sense of wellbeing! Bringing that natural light into your whole home can also improve your health and save on your utility bills—all positive results from free energy from the sun.

Homeowners have discovered the benefits of adding more natural light to their homes and even cite it as a “must-have” feature when looking for a new home. If you’re looking for ways to capture more natural light, consider some of these illuminating ideas:

Add Reflective Objects

Mirrors and shiny objects that reflect the light already coming into your home will brighten the space significantly. Expect double the amount of sunlight when placing

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Moving during the winter holiday season might not be your first choice – or even your second – but, if you’re in this position, it’s probably because of some very serious reasons. Once the decision is made, it’s important to learn all about the particularities of moving during this pretty busy time of the year, what you should be paying extra attention to, and how you can actually benefit from the situation.

Pick the Actual Day of the Move Carefully

The winter holiday season conventionally spreads from Black Friday until New Year’s Eve, but there are several “peak days” during this time that you shouldn’t choose as your moving dates. Black Friday sees a huge amount of road traffic, so driving a rental truck on any of those days will be

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