Insight into the Canadian Real Estate Market

Written by Sherry MacLeod, Managing Broker of Cape Breton Realty As a seasoned Realtor with over 30 years of experience, I am currently serving as the managing broker at Cape Breton Realty. In this article, I will provide insights into the recent developments in the Canadian banking sector and their potential impact on the real estate market. This week, the Bank of Canada made the decision to decrease its interest rate by 0.25%, with forecasts suggesting another reduction to 4.5% next month. This move aims to provide relief to homeowners whose mortgages are up for renewal in the next 1-2 years. The rate reduction from 5% to 4.75% last week and the expected further reduction to 4.5% next month can help alleviate some of the concerns surrounding increased mortgage payments. Fluctuations in interest rates often have a ripple effect across both Canada and the US, given their close economic ties. While forecasters and economists do not anticipate a significant increase in real estate prices due to a reduction of 0.25% or 0.50% in interest rates, it is expected to attract some buyers who have been waiting on the sidelines. The decrease in interest rates in Canada compared to the United

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Cape Breton: A Real Gem in the Real Estate Market

Cape Breton, Nova Scotia, is a captivating island paradise waiting to be discovered. Renowned for its stunning landscapes, from rugged coastlines to lush forests, it’s a haven for nature lovers and outdoor enthusiasts. Its vibrant culture, deeply influenced by Gaelic, Acadian, and Aboriginal heritage, is palpable in traditional Celtic music, lively ceilidhs, and diverse art scene. The tight-knit community welcomes newcomers with open arms, offering numerous opportunities for socialization and volunteer work. Cape Breton also boasts affordable living, with housing prices significantly lower than larger urban centers. The island’s relaxed atmosphere provides an exceptional work-life balance, encouraging exploration, seafood feasting, and serene relaxation amid its natural beauty. Come to Cape Breton and live the idyllic life you’ve dreamed of in this tranquil yet dynamic haven. Send a Referral NEW OFFERINGS 9769 Grenville StreetSt. Peter’s, Nova Scotia $499,000. CADMLS 202407981 Own a piece of history! Stunning four-bedroom former nuns’ home, built in 1891, with ocean views in St. Peters. Elegant charm, original details, and modern comforts. Secluded on two acres with mature gardens and barn. Conveniently close to amenities.  For more info please click on photo 8268 Highway 19Port Hood, Nova Scotia $399,900. CADMLS 202408874 Discover coastal living at its finest! This stunning

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Photo Checklist 2024

Preparing for Real Estate Photography My goal is to photograph your home with the highest quality that will attract buyers. To ensure your photo shoot goes smoothly and safely, I’ve put together this preparation checklist of things you should do prior to your scheduled shoot. Following this pre-shoot checklist will help ensure that your home is photographed quickly, efficiently, and with the best possible results. Kitchen – Clean countertops of food, dish racks, paper towel rolls and other items. – A few small appliances, fruit bowls, plants etc. can remain. – Remove all items off the fridge (magnets, pictures, schedules), clear the top. – Make sure the sink is clean and free of dishes. – Remove dish and hand soap bottles, dish cloths and rags, hide scrub sponges. – Put away garbage bins, brooms, mops and cleaning products. – Add a bowl of fresh fruit or a vase of flowers. – Remove calendars as they can date a listing. – Ensure all cupboards and drawers are closed properly. Bathrooms – Clear countertops of all toothbrushes, toothpaste, soap, razors, personal items. – Clean mirrors. – Remove shampoo, soap bottles, squeegees from showers. – Remove scales, mats, laundry baskets, trash cans. –

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Unlocking the True Value of Your Home: Surprising Features That Can Make or Break It

By Sherry MacLeod Managing Broker/Cape Breton Realty When it comes to determining the value of a home, many homeowners believe that having unique features automatically guarantees a higher price. However, it is essential to understand that certain factors can either add or detract from a home’s value. In this editorial, we will delve into surprising aspects that can make or break the value of your home, providing valuable insights for homeowners seeking to maximize their property’s worth. Luxury homes with spacious yards, and swimming pools can indeed add significant value. A pool with special features, such as an attached hot tub, a mesmerizing waterfall, a unique shape, or exquisite mosaic tiles, can elevate the allure of a high-end home. However, it is crucial to note that a pool’s value is contingent upon its good condition and proper maintenance. While swimming pools can be desirable, they can also consume a substantial portion of yard space and entail ongoing expenses. If a pool is in need of extensive repairs, it can negatively impact the property’s value. Additionally, some potential buyers may be deterred by the added maintenance and costs associated with owning a pool, particularly families with young children who prioritize safety

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Introducing Dawn Coady

Introducing Dawn Coady: Culinary Expert and Retail Guru Joins Our Team! We are excited to welcome Dawn Coady to Cape Breton Realty! With a diverse career in the food and beverage industry and retail, Dawn brings invaluable expertise and a genuine passion for excellence. She has a background in hospitality and customer service, and her experience as a Program Assistant for Culinary Arts at the Nova Scotia Community College showcases her commitment to education and development. Dawn’s retail experience, including her time at the renowned Outdoor Store, has further enhanced her skills in personalized service and building connections with clients. With her unique blend of culinary expertise and retail acumen, Dawn is a valuable asset to our agency and clients. Residing in the beautiful Margaree River Valley, Dawn has a deep appreciation for Cape Breton’s charm and a keen understanding of the local real estate market. Whether you’re buying, selling, or investing, Dawn’s passion, professionalism, and dedication to client satisfaction ensure a seamless and rewarding experience. Please join us in welcoming Dawn Coady to our team, as her expertise and enthusiasm will elevate our level of service and benefit our valued clients and community. Contact Dawn at 902-295-0486 or email

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Realtor’s Perspective: Addressing the Housing Crisis in Nova Scotia

By Sherry MacLeod Managing Broker of Cape Breton Realty As a Realtor, I believe our profession needs to be more actively involved in addressing the housing crisis. Canada Mortgage and Housing Corporation (CMHC) has issued a concerning revelation: Canada needs to more than double its housing construction over the next several years to address the pressing housing shortage. This nationwide challenge demands a collaborative and innovative approach from all levels of government, industry stakeholders, and community members to drive meaningful change and create sustainable solutions. At the provincial level, Nova Scotia has taken proactive steps to address the housing shortage and attract skilled tradespeople to the region. The province offers incentives to encourage tradespeople to move here, recognizing the vital role they play in addressing the housing crisis. These incentives not only aim to attract skilled workers but also contribute to the growth and sustainability of the local workforce, fostering a vibrant and dynamic community. Furthermore, Nova Scotia has introduced up to $40,000 incentive for building granny suites, providing an opportunity for homeowners to create additional housing units and contribute to the expansion of affordable housing options. This initiative not only addresses the housing shortage but also supports multi-generational living

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Welcome Tanja Wypper to Cape Breton Realty

Cape Breton Realty is pleased to announce the addition of Tanja Wypper as an Associate Broker. Tanja is a seasoned Realtor®, having worked in the real estate industry for the past eight years. Her professionalism, understanding of cultural differences, language skills and commitment to her clients have allowed her to build an extensive client base. Tanja immigrated to Canada from Germany twenty-five years ago. In that time, she has studied Natural Resources and Environmental Technologies, earned her Bachelor’s Degree in Environmental Engineering Technologies, worked in several occupations related to her studies, raised two children, stayed active in her community, obtained her real estate license, then broker’s license, all while maintaining connections to clients in many German speaking countries. The vast knowledge she brings with her, makes Tanja a valuable new member of our team. Please join us in welcoming Tanja Wypper! Beth Groom, Broker Cape Breton Realty Contact Tanja: 902-631-0782 or ta***@ca**************.com www.capebretonrealty.com/tanja

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Knowledge is Power for Home Buyers.

By Sherry MacLeod Managing Broker of Cape Breton Realty Knowledge is power when it comes to buying a house, and the process can be both exciting and filled with anticipation. However, considering that it is likely the most expensive purchase of your life, it is crucial to approach it with knowledge and preparedness. By enlisting the help of a Realtor, you can gain a competitive edge and ensure a smooth home buying experience. One of the first steps is to meet with a mortgage broker, guided by your Realtor, to determine what you can afford. This knowledge will help you avoid disappointment by knowing your budget before falling in love with a particular property. It’s important to consider all costs, including the monthly mortgage payment, down payment, homeowner’s insurance, home maintenance, and potential renovations. If your down payment is less than 20%, remember to budget for CMHC insurance. Another important aspect is understanding the seller’s motivation. Your Realtor can tell you why they are selling and how long the house has been on the market, helping gain an advantage during negotiations. Evaluating the neighborhood is equally important. Your real estate agent will provide you with listings of comparable homes currently

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How Home Buyers and Sellers Can Navigate Rates Based on the Bank of Canada’s Decisions

By Sherry MacLeod Managing Broker at Cape Breton Realty March 12, 2024 After my trip to Vegas for the Leading RE conference and hearing economists’ forecasts about the US, Canadian, and European economies, I felt compelled to share some valuable insights with you. Having lived through the era of 17 percent interest rates on mortgages, it’s intriguing to hear discussions about waiting for rates to go back down. Here is what economists were saying. Contrary to nostalgic expectations of a return to 1-2 percent rates, Dr. Marci Rossell predicts a more modest decline in interest rates before the end of the year. While this anticipated decrease will undoubtedly stimulate demand in our market, it’s essential to temper expectations and recognize that rates are unlikely to plummet to historic lows. Amidst these economic deliberations, our local housing market is experiencing a subtle shift. Inventory is gradually increasing, alleviating some of the pressure that characterized the frenzied multiple-offer scenarios during the height of the pandemic. However, this doesn’t signify a buyer’s paradise just yet. As we anticipate the convergence of declining interest rates and expanding inventory, it’s prudent to acknowledge the nuanced dynamics at play. While certain price ranges may tilt towards

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