Convergents of Excellence

Buyer demand surges in October In a change of pace, Metro Vancouver home sales surged more than 30 per cent year-over-year in October. (3 minute read)

On National Indigenous Peoples Day, we honour and commemorate the First Nation, Inuit, and Métis communities of Canada. 🧡⁠
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“We will be known forever by the tracks we leave.” – Dakota Wisdom⁠
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Financial Markets Monthly
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Economou, Aris
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Fri, Apr 12, 1:30 PM (13 days ago)
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Greetings, attached is the Financial Markets Monthly report.

BoC and the Fed, you gotta keep ‘em separated

A resilient U.S. economy and signs of reacceleration in inflation look likely to derail Fed plans to cut interest rates by 75 basis points this year – we now look for just one 25 basis point cut in December.
The Bank of Canada, though, still looks on track to cut rates in June.
Beyond then, the monetary policy gap will widen with the BoC cutting deeper than the Fed. That’s also against a widening macroeconomic growth and labour market gap in Canada versus the U.S.
There are early signs of a pickup in activities in the euro area and U.K. economies, but not enough to prevent cuts from the ECB and the BOE this year as long as inflation continues to slow.


Have a great weekend!



Aris Economou | Mortgage Specialist | RBC Royal Bank | Royal Bank of Canada | Cell 604-834-1196 | F. 604-299-7140 | mailto:[email protected] |

"Thank you, Paul, for helping us with the sale of our investment condo. We really appreciate your going the extra mile to take care of owner tasks on our behalf--with us living so far away --doing so always with a smile. And of course you helped us negotiate the highest price this year for a condo of this size in our building…well done!

With great appreciation, P. and F., North Van."

Home seekers and investors will love this opportunity to own a brand new 2 BR + den home at The OAKS on at 741 Anskar, west Coquitlam! Efficient 809 sf open floor plan, vaulted ceilings, separated BR's, facing NE with some mtn views. Features S/Steel Kitchen Aid appliances, a huge island/bar, hard flooring...plus a den for your home office & a 76 sf covered balcony! Complex offers resort-like amenities incl. party and games rooms, theatre, gym, and more...heck, there's a doggy wash! All in super convenient area close to schools, parks, SFU, SkyTrain, restaurants and Lougheed Mall. 1 parking & storage locker. Ready for quick occupation, new home warranty and BONUS: GST is already paid. Come to our open house Sun., Aug. 27, 2-4 pm. MLS R2807903

What is the Home Buyer Rescission Period (HBRP) or cooling-off period now in effect in British Columbia?
It is a process that gives the right to the buyer of a property (exceptions below) to withdraw from a purchase agreement within a certain time period after an accepted offer is put into place. Even before Jan. 3, 2023, and continuing on, a 7 day rescission period has been provided on the purchase of pre-sale new construction properties. it allows the purchaser to consider all facts before committing to the agreement.

The new HBRP allows for a "rescission period" of 3 business days from the time the offer is accepted by both parties to a transaction. this rule cannot be waived by either party and is enforced on the Contract of Purchase and Sale (CPS). If the offer has subjects (or conditions), the subject period runs concurrently with the 3 days of the HBRP. If the subjects are 5 days, the HBRP rule will automatically expire on the 3rd day and continue to the 5th day for the subjects.

Now what are 3 business days? On day 1, an offer is accepted by sellers and buyers. The business days begin the NEXT day and on the 3rd day at midnight, it expires. For example, if the buyers and sellers negotiate back and forth and finalize the deal on Monday at 4 pm, the 3-day HBRP will expire Thursday evening at midnight. (Monday is not counted as part of the HBRP period.)

during this period (3 business days,) the buyer can legally withdraw from the purchase agreement without having to give a reason. However, there is a 0.25% rescission fee owed by the purchaser payable to the seller. For example, if the agreed purchase price is $800,000., the rescission fee is $2,000.

The HBRP affects these properties:
Condos and townhomes
Semi-detached homes, duplexes, multi-unit dwellings
Detached homes
Residential strata lots
Manufactured homes that are affixed to the land
Cooperative interests that include a right to use or occupy a dwelling.

Properties exempt from HBRP:
Residential real property that is located on leased land
A leasehold interest in residential real property
Residential real property that is sold at auction
Residential real property that is sold under a court order or the supervision of a court.

If you have any questions about the HBRP or wonder how this can affect the submission of an offer, please contact me. I will be happy to answer your questions.

1172 Milne Street, Coquitlam

3 Bed, 3 Bath,
1,794 sq. ft.
$1,349,000

WALK TO THE MALL! Location is key for this wonderful 3 BR, 1,794 sf home on a long quiet cul-de-sac! Steps to transit, ALL schools and recreation. And walking dist. to Coq. Ctr. Mall, services, Lafarge Lake and Douglas College.

The Easy Life starts with tons of upgrades: All newer hi-efficiency windows; all 3 baths upgraded top to bottom; wide laminate + tile flooring. Dining Rm. is flexible: cd. be 4th BR, den, office, or ? Classy LR w/gas fireplace. Kitchen/family room opens to the refurbished patio/back yard area, a FUN ENTERTAINMENT venue! New fencing on all 3 sides!

2 car garage w/newer concrete driveway! Storage in 5+ft. crawl space. This wonderful lifestyle is complete with a low-maintenance yard. So push the EASY button, come see your new home!

Open house Sun., July 24, 2-4 pm

1172 Milne Street, Coquitlam 3 Bed, 3 Bath, 1,794 sq. ft.$1,349,000WALK TO THE MALL! Location is key for this wonderful 3 BR, 1,794 sf home on a long quiet cul-de-sac! Steps to transit, ...

Looking forward to our open house this Sunday 17th 2-4 pm at 1776 Windermere Ave. in Port Coquitlam!

A 3 Bedroom split-level home on a lush 9,035 sq.ft. lot (with lane) situated on a long cul-de-sac. Highlights include a unique open den for kids computer stations, an updated kitchen w/cork flooring, gleaming maple engineered wooden floors, an on-demand hot water system.

The large deck looks out on a park-like back yard which has an impressive array of fruit trees and berry bushes and a back lane. 1,813 sq.ft. interior plus over 800 sq.ft. (low-height) storage in crawl/under deck. Walk to schools, trails, and transit and a short drive to Coquitlam Centre Mall, shopping, services and recreation.

Happy Father's Day!
To all dads, guardians, mentors, or anyone who has provided welcome guidance in your life. (Funny, MOM comes to mind!)
Many blessings!