Real Estate News in The Sea To Sky Corridor; BC for the Week of: January 19th – 25th REMAX

Interest rates may have peaked – is it time to jump into the housing market?

From Global News

After the Bank of Canada on Wednesday gave its clearest hints yet that its interest rate cycle might have peaked, some real estate experts are expecting hope for lower borrowing costs will set up a busy spring housing market.

The Bank of Canada held its benchmark interest rate at 5.0 per cent for the fourth consecutive time on Wednesday, with governor Tiff Macklem saying that conversations at the central bank have shifted from whether rates need to rise higher to how long they need to stay at current levels. Read more…

Five Expenses You Need to Be Aware of Before Leasing Retail Space

From RE/MAX Blog

Canada’s retail sector is an economic juggernaut with an annual market size of over $500 billion, providing jobs for almost three million people. And while e-commerce sales have benefitted from changes in consumer behaviour due to the COVID-19 pandemic, brick-and-mortar retail sales still reign supreme and account for almost all consumer spending in virtually every retail category. From corner grocery stores and car dealerships to building and garden supply centres, furniture stores and restaurants, Canadians prefer the more engaging and personalized shopping experience that in-store shopping offers. Read more…

How are Canadian Mortgage Rates Determined?

From RE/MAX Blog

Canadian mortgage rates have been in a state of flux for the last year. The pandemic prompted a trio of interest rate drops, bringing the benchmark rate down to 0.25 per cent. This, in turn, resulted in a housing boom that saw many homebuyers stretch their financing to the limit in order to be able to buy a home. Now that the boom has passed and interest rates have bounced to their highest level in 22 years, the focus has shifted to the cost of holding a mortgage, and conversations on whether a variable- or fixed-rate loan is the way to go. Read more…

Distressed Sales Increasing, Triggered by Interest Rates

From RE/MAX Blog

The consensus in the financial markets is that the Bank of Canada (BoC) is finished raising interest rates. This does not mean that the struggles of a rising-rate climate are over. In fact, two things need to be understood. First, interest rates will likely stay higher for longer. Second, because monetary policy functions with a lag, last year’s rate hikes are still rippling through the Canadian economy. And, yes, this includes the Canadian commercial real estate market. Read more…

3 Ways to Stand Out in the Spring Market

From RE/MAX Blog

Spring – the flowers are blooming, the birds are chirping, and the “For Sale” signs are sprouting up on lawns all around you. This can be one of the best times to list your home, which also makes it one of the most competitive times.

So, how can sellers stand out in a busy spring market? We asked RE/MAX affiliates across Canada to share their top tips. Read more…

Interest Rate Announcement: Holding Steady at 5%

From RE/MAX Blog

The Bank of Canada has held its benchmark interest rate at 5%, amid a slowing economy. This marks the fourth consecutive interest rate hold.

The Bank’s rate influences the cost of borrowing in Canada, including mortgage rates and other types of loans. Higher interest rates over the last year had a tangible impact on the Canadian housing market, with the softening market credited to a combination of higher interest rates and lack of housing supply. Read more…

Top 5 Home Improvement Ideas For 2024

From RE/MAX Blog

Heading into 2024, home improvement trends are sharply focused on combining practicality, eco-friendliness, and technological innovation. This guide will highlight key trends, including energy-saving appliances, sustainable materials, and smart home technology for better security and ease of use. We’ll also cover versatile design ideas for multifunctional areas and wellness spaces tailored to the modern homeowner’s needs. These trends aim to create homes that are visually appealing, versatile, efficient, and in tune with individual lifestyles. Read more…

RE/MAX® Continues Advice Campaign Amid Challenging Market Conditions

From RE/MAX Blog

Everyone knows someone who knows a thing or two about real estate, but we all know good intentions don’t always equal good advice. And that’s the premise behind RE/MAX Canada’s “Advice You Need” campaign. Now in its second year, the 2024 spring launch features the new “Strangersplain” video spot that highlights the importance of working with a professional, experienced real estate agent, in this series of comedic yet common scenarios of unsolicited real estate advice. The release will also revisit the popular “Hypesplain” spot that launched last fall featuring basketball pro Kyle Lowry, and “Dadsplain” which premiered during Super Bowl LVII. Read more…

Environmental Issues to Be Aware of When Buying Commercial Real Estate

From RE/MAX Blog

Performing due diligence is an essential part of preparing to purchase or lease commercial real estate. Due diligence aims to uncover information that might not be immediately apparent during a cursory property evaluation so buyers or tenants can reduce their exposure to risks and liabilities.

In addition to researching the potential market, zoning, legal, structural and financial risks associated with prospective building or property purchases, clients need to determine if any environmental issues exist. Decontaminating property can be a lengthy and costly process, and owning or occupying a contaminated site can create liabilities far surpassing the original cost of the property. Read more…

RE/MAX Real Estate Agents Voted #1 Most Trusted in Canada

From RE/MAX Blog

RE/MAX® has been voted the #1 Most Trusted Real Estate Agents in Canada by Canadian shoppers, year after year*, according to the 2024 BrandSpark® Canadian Trust Study. The Study is based on a  national survey of 25,161 Canadian shoppers who gave their top-of-mind, unaided feedback on which brands they trust most and why, in the categories they have recently shopped. Market research and consulting firm BrandSpark International analyzed 262 different categories of consumer products and services, spanning Household & Cleaning, Petcare, Home Goods, Food & Beverage, Beauty & Personal Care, Over-The-Counter Health, Baby & Kids, Automotive, Restaurants & Retail and Services. As part of the Services category, RE/MAX was named the #1 most trusted real estate agency brand*. Read more…