Mandeep Ghotra's blog

Source- Fraser Valley Real Estate Website(http://www.fvreb.bc.ca)

SURREY, BC – As anticipated, real estate activity saw a steep decline last month in response to the pandemic lockdown, resulting in one of the slowest Aprils in Fraser Valley history.

Source- RBC

Sources(https://www.bankofcanada.ca/2020/03/press-release-2020-03-27/)

The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy during the COVID-19 pandemic.

Information on CEWS

CEWS was announced by the Federal government on March 27 to help employers keep and return workers to their payroll through the challenges posed by the COVID-19 pandemic.

CEWS is meant to provide a 75-per-cent wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020.

Support for Canadians        (Source- www.canada.ca/department-finance)

Temporary Income Support for Workers and Parents

For Canadians without paid sick leave (or similar workplace accommodation) who are sick, quarantined or forced to stay home to care for children, the Government is:

Many members seem to think that the Privacy Protected status on their listings will keep other members from ever contacting those clients/sellers in the future. That is not correct.

It simply means that other REALTORS® must not use the MLS® as their source for the information they use to communicate with the seller. This is specified in the Rules of Cooperation 6.06, Privacy-Protected Listings, and on the Privacy Notice and Consent form.

Fraser Valley January home sales typical; new listings lagging  

SURREY, BC – January’s property sales in the Fraser Valley came in 6 percent above the 10‐year average for the month, while new listings finished 11 percent below historical norms.

The Fraser Valley Real Estate Board processed 974 sales of all property types on its Multiple Listing Service® (MLS®) in January, a 21.9 percent decrease compared to sales in December 2019, and a 24.2 percent increase compared to the 784 sales in January of last year.