The impact of the Bank of Canada’s latest rate cut?


The experts who predicted another “jumbo-size” half-point cut in the Bank of Canada interest rate were right. The question that follows is: How will this affect the economy in general and real estate in particular? How quickly will the “other” banks — the ones that issue mortgages — respond and how much will their response reflect the interest-rate drop?

In reducing its “overnight policy rate” from 3.75 to 3.25 per cent, the Bank reasoned that: (a) the “global economy is evolving largely as expected” (b) the U.S. economy “continues to show broad-based strength, with robust consumption and a solid labour market” (c) the euro’s “recent indicators point to weaker growth (d) global financial conditions have eased and the Canadian dollar has depreciated in the face of broad-based strength in the US dollar.

The Bank expects that inflation will average close to its 2 per cent target over the next couple of years.

Speculation is that mortgage rates will initially be around 5.25 per cent, that there may not be quick action on the part of lenders, or even a full reflection of the half-point drop, and that while the move is a good one, it will take time to work through the consumer household spending and mortgage rates.

In other words, it’s going to take time to see what the impact of this fifth consecutive rate cut will be. In the meantime, there will be a new administration south of the border and the reality (or not) of proposed tariffs imposed by the U.S. — and their potential impact — will at least become clearer.

The next Bank of Canada interest rate announcement will be January 29. Early projections are for another cut, followed by a more conservative approach into 2025.

The Nexus Blog:

Keeping the door open to working low offers


With market conditions and home prices changing as quickly as they sometimes do, it’s more important than ever to have sound research before venturing into the market, as either a buyer or a seller — the kind of research Nexus Realty has given clients for many years.

Something that can slip through the cracks but won’t if you have realtors like Dale and Jennifer on your team is a low-priced offer. When a potential buyer makes an offer far below your asking price, there can be a tendency to just say no, because to you the offer is insulting. However, even the lowest of offers can result in a sale if your realtor keeps you open to negotiations and works with the buyer.

Look at it this way. When somebody makes an offer to buy your home, they’re serious. They like the home. They think they can find a way to make it work financially or they wouldn’t have made an offer in the first place.

The buyer’s initial price is usually based on affordability, but that can change. If the location is perfect and the home feels like home to a buyer, raising the offer is often in play. So as a seller, you treat the offer as a door opener so you can see where it goes from there by keeping negotiations open.

For Jennifer and Dale, the key is to find the middle ground that’s acceptable to both sides. Many times, it happens. Sometimes, the gap is just too big. But the point is, you can only find that out if negotiations remain open by not closing the door on a low offer.

For more, call Dale (604-720-3353) or Jennifer (604-726-8768).



Meet Jennifer


Jennifer always has the best interests of her clients at heart. She recognizes that buying or selling a home is a huge moment in everyone’s life and is keen to use her knowledge and skills to ensure her clients achieve the best results.




Meet Dale


Having started Nexus Realty nearly three decades ago, Dale has a history of proven results for his clients. Whatever his clients’ situation, he approaches his work with the same integrity and great service. Teaming with his daughter, Jennifer, makes Nexus Realty a family business dedicated to helping other families at pivotal moments in their lives.

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The Character Home

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community of six: 


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Call Dale (604-720-3353) or Jennifer (604-726-8768)

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Dale Clark

Nexus Realty Corp

West Vancouver,  BC 

Phone: 604-720-3353

daleclark@nexusrealtycorp.com, jenniferclark@nexusrealtycorp.com