Susan Terry
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Bank of Canada Rate Update
The Bank of Canada lowers its rate 50 basis points in second consecutive decision.
On Wednesday, December 11, 2024, the Bank of Canada reduced its target for the overnight lending rate from 3.75% to 3.25%.
The cut was widely expected by financial markets in the lead-up to the decision, marking the fifth rate reduction since the onset of the pandemic, bringing rates down 1.75% from where they stood in April 2024.
The Canadian economy grew by 1% in the third quarter and is expected to come in weaker than projected according to the Bank of Canada.
The Bank made note of a pickup in housing activity, noting that lower interest rates are likely boosting the market.
The Bank also noted the employment market remains soft as the unemployment rate rose again in November.
While the Bank observed that a number of federal and provincial policy measures will be coming into effect in the near term, they will be looking through any temporary effects and focusing on underlying trends to guide their policy decisions.
The Bank stated the possibility of new tariffs on Canadian exports to the United States under the incoming administration has added uncertainty to its economic outlook.
With inflation currently trending around 2% and expected to remain close to that target over the next two years, and the economy still underperforming, the Bank notes it will evaluate the need for further reductions at each successive meeting.
The Bank of Canada will make its next scheduled interest rate announcement and publish its full outlook for the economy and inflation in its next Monetary Policy Report on Wednesday, January 29, 2025.
Pet Proofing Your Christmas Tree
Make it a pawsitively perfect Christmas for you and your furry friends!
Cats and dogs are naturally curious, especially during Christmas when a big tree filled with shiny, dangling ornaments becomes the center of attention!
Here are a few tips that will help keep your pets, and your tree, safe and sound this holiday season:
Safe & Secure
Ensure your tree is fully secured by placing it into a sturdy, solid base and anchoring it to the wall.
Cord Control
Keep all electrical cords out of reach or covered up so that your pets aren’t tempted to chew on them.
Water Watch
Tree water can contain harmful fertilizers and bacteria, so make sure your pets aren’t able to get to it.
Higher Ground
Hang fragile ornaments higher up on the tree and avoid tinsel and edible decorations such as candy canes.
Poisonous Plants
Poinsettias, holly and mistletoe can be harmful to pets, so make sure to keep them well out of reach.
Decorating for Christmas is always a joy, but if you have furry little friends running around the house, it’s important to take a few precautions to help protect them.
Here’s wishing you and your family an amazing Christmas and a very Happy New Year!
The Perfect Time to Give Back
Celebrate #GivingTuesday by supporting those in need in the Grey Bruce area.
#GivingTuesday is a global movement held every year on the Tuesday following the busy shopping days of Black Friday and Cyber Monday. This year, it falls on Tuesday, December 3rd.
Launched in 2012 in partnership with the United Nations Foundation, #GivingTuesday encourages people to give back to their communities through donations and volunteer work.
Charities in our area need our support more than ever, so consider donating to your favourite local charity or volunteering at one of our local food banks.
The smallest act of kindness can make a huge difference so if you know someone who’s going through a tough time, reach out with a thoughtful gesture. Just running an errand or dropping off some nice food can go a long way!
#GivingTuesday is the perfect time to spread some kindness as we head into the busy holiday season. Visit www.GivingTuesday.ca for ideas on how you can make a difference when Tuesday, December 3rd rolls around.
Selling vs. Renting – What Makes Cents
From sudden moves to shifting markets, renting out your home can sometimes make sense.
Sometimes, unexpected opportunities arise, such as a temporary work relocation. Or perhaps you’d like to take advantage of a strong buyer’s market but don’t wish to sell your current home at a loss.
Renting out your home may be an option, but there are certain factors you’ll want to consider. Here are a few things to keep in mind if you’re thinking about renting out your home:
Rent Reserve
Set aside some extra money in case the rental income doesn’t completely cover your mortgage payments, property taxes and home insurance.
Taxing Situation
There may be tax implications to consider, so reach out to an accountant or financial advisor as rules can vary depending on your situation.
Expect the Unexpected
It’s important to be prepared for unforeseen circumstances such as unexpected repairs or if your tenant suddenly falls behind on their rent.
Love It or Lease It
Being a landlord isn’t always easy. To avoid any potential conflicts, it’s best to try and emotionally detach yourself from your former home.
Prepare to Repair
Tenants may not treat your home with the same level of care that you once did, so when it comes time to sell, your home may need some work.
Market Matters
If the market gains strength, you may be able to increase your equity. However, if the market drops, you could face a potential loss.
Renting out your home can be a great decision that pays off – if it’s done right. You’ll need to treat it like a business though, so evaluate the demand for rentals in your area and look into landlord/tenant laws before moving forward.
If, on the other hand, you’re thinking about selling your home, we can provide you with a home evaluation to give you a better idea of what your home’s currently worth in today’s market.
Please don’t hesitate to reach out if you ever have any real estate related questions. It’d be great to hear from you!
Grey Bruce Real Estate Update – October 2024
Please don’t hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you’re just curious about what the house down the street sold for – it’d be great to hear from you!
Time to FALL In Love!
Tackle home maintenance this fall to avoid major repair bills down the road.
Taking the time to regularly maintain your property is critical as it helps protect your most valuable investment.
It’s also much more cost-effective to proactively fix small problems as opposed to fixing them once they’re past the point of no return.
Regular maintenance should be part of your routine so here’s a fall home maintenance checklist to help you make sure your home doesn’t fall apart:
Close the Gap
Fix any cracks or gaps you see in the driveway so that moisture doesn’t seep in and make things worse over the winter.
Draft Defence
Inspect the weather stripping and caulking around your windows and doors to prevent drafts and improve energy efficiency.
Pest Proofing
Check your home’s exterior for gaps or holes, and seal them to prevent rodents and pests from entering your home when the temperature dips.
Branch Out
Prune back trees and bushes to prevent overgrown branches from causing damage during storms and to stop debris from blocking drainage areas.
Gutter Guard
Clear away any debris from your gutters and run a hose down your downspouts to ensure there aren’t any clogs.
Foundation Fix
Make sure water drains away from your home to prevent pooling, which can cause flooding and foundation damage.
Preventative maintenance helps keep small issues from turning into big problems that require urgent professional help. With a little time and planning, you can maintain your home’s value and save money by making it more efficient.
Is It a Good Buy or Good Bye?
Will the Grey Bruce real estate market cool down, level out or gain steam?
No one can be sure what lies ahead for the Grey Bruce real estate market, but there are a few proactive steps you can take if you’re thinking about making a move:
Crunch the Numbers
Ensure you’re financially ready for homeownership. With various additional costs beyond mortgage payments, it’s essential to have a clear understanding before taking the plunge.
Planning Makes Perfect
Plan ahead by researching local amenities such as shopping, restaurants and public transit. If you’re planning to start a family, check out local schools and parks.
Stick to Your Budget
Before starting your home search, make a detailed list of needs/wants so that you’re not tempted to overextend yourself financially later on.
Match Maker
Once you have a better idea of what you’re looking for, you can register to receive notifications of homes that match your criteria as soon as they hit the market!
Market Master
In addition to new listings, you can also receive notifications of recently sold homes. That way, when you’re ready to make an offer, you’ll have a better idea of what similar homes are going for.
An unpredictable real estate market can make it hard to decide whether it’s best to wait around for prices to drop or move ahead quickly before they spike.
It’s completely natural to experience a wide range of emotions during the ups and downs of the real estate journey. House hunting should be fun though, and it will be, as long as you’re prepared.
The key to finding the perfect home is to have a professional on your side who will help guide you along the way, so please don’t hesitate to get in touch if you ever have any questions about the Grey Bruce real estate market. That’s what I’m here for!
Grey Bruce Real Estate Update – September 2024
Please don’t hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you’re just curious about what the house down the road sold for – it’d be great to hear from you!
The Feng Shui Way
Creating good feng shui around your home is easier than you may think!
Feng shui is a centuries-old Chinese method for designing the layout of your home to create a balanced environment that promotes happiness and prosperity.
The best part about this design style is that it’s easy and doesn’t cost a fortune. Here are a few ideas on how to improve the overall feel of your home:
The Right Path
Place a few plants on your porch and make sure the path to your front door is unobstructed and welcoming.
Foyer Flow
The entryway of your house should be bright, clean and clutter-free as it sets the tone for the rest of your home.
Cut the Clutter
Fix or get rid of broken items in your home as they can contribute to a cluttered or uninviting atmosphere that breeds negativity.
Power Plants
Add a touch of nature to your home with a few houseplants. Lucky bamboo, jade plants and peace lilies are great choices!
Clear the Air
Open up your windows to let in fresh air and maximize natural light for a more refreshing and uplifting environment.
Mirror Mirror
The strategic placement of a few mirrors can help expand smaller areas and draw extra light into darker rooms.
Feng shui suggests that our physical surroundings have an impact on our emotional well-being, which is why it’s important to be aware of how we arrange our space.
Buyers often feel certain vibes when they enter a home, so if you’re thinking of selling anytime soon, a harmonious feel could be the difference between a quick sale and one that drags on.