250-262-7496dan@remaxaction.ca

Dan Petersen

Committed to going the extra mile and ensuring that all of your needs are successfully met in a professional and honest manner. For Service and Commitment, let me help guide you with your next purchase or sale.

 

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Books To Help Be Your Best Self

Your tone of voice and the words that you use can sometimes be the difference in whether a conversation is positive or not. Here are some great books to check out that offer tips on ways you can ensure that your conversations have the best outcomes. What will you start with first?⁠

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠

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October 2022 - Bank of Canada Rate Announcement

When the overnight rate is increased, it becomes more expensive to borrow money. The increased costs of borrowing money are shifted from the bank onto the consumer by increasing the Prime Rate.

Pre-Approvals are likely to decrease.

Fixed-Rate Mortgages remain the same.

Adjustable Rate Mortgages will increase according to the new Prime Rate minus your discount. (Expect information in the mail).

Static Variable Mortgages payments remain the same but a portion of interest paid to the lender will change.

Reach out with your questions anytime. I can introduce you to a mortgage broker who would be happy to go over your options with you and help you find a mortgage that you're most comfortable with.

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠

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Spread The Gift of Kindness
During this time of year, our thoughts are filled with gratitude for those who have supported us in our personal lives and careers. Here are some ideas on how to host an event that extends that gratitude to helping others in need.⁠

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠
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Online Shopping Scams
Online shopping can be easy and fun. But unfortunately, there are many scammers who want to steal your identity and your money. The information here provides tips on ways you can protect your personal information and your finances when shopping online.

Dan Petersen⁠

Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠
Read

September 2022 - Bank Of Canada Rate Announcement

Did you hear the news? The BoC increased the overnight lending rate by 0.75%, which is another increase for the 5th time in a row. The Prime rate is expected to increase by 0.75% to 5.45% and Variable rate mortgages will increase by 0.75%.⁠

The Bank’s committed to price stability and will continue to do what is required to achieve a 2% inflation target. As the effects of monetary tightening work their way through the economy, the BoC will assess how much higher interest rates need to go to return inflation to its target. The current inflation rate is measured at 7.6% decreasing from 8.1% in the previous month.⁠

The next announcement is scheduled for October 26th and there's certainly hope that October will be more positive.⁠

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠

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Marketing Your Home

Selling your home doesn't have to be complex. Marketing your home is essential to finding and impressing potential buyers. ⁠Here's some insight into how to get the most exposure for your listing. ⁠

If you're ready to list... call me today for a complimentary market evaluation of your home. ⁠

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠

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Tax Filing Mistakes to Avoid
Tax season can be a stressful time! To help make it easy and error-free, check out this information for some common tax-filing mistakes to avoid. You’ll feel confident and ready when it’s time to file!⁠

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠
Read

BC Property Transfer Tax
When you purchase or gain an interest in property that is registered at the Land Title Office, you or your legal professional must file a property transfer tax return and you must pay property transfer tax, unless you qualify for an exemption. In most cases, property transfers are completed by a legal professional.

The property transfer tax is based on the fair market value of the property (land and improvements) on the day it was registered with the Land Title Office, unless you qualify for an exemption or purchase a pre-sold strata unit.

Property transfer tax should not be confused with annual property taxes. Annual property taxes are paid yearly to your municipal or rural tax office for each property you have a registered interest in to fund services in your area.

General Property Transfer Tax

The general property transfer tax applies for all taxable transactions. The general property transfer tax rate is:

1. 1% of the fair market value up to and including $200,000
2. 2% of the fair market value greater than $200,000 and up to and including $2,000,000
3. 3% of the fair market value greater than $2,000,000
4. Further 2% on residential property over $3,000,000

If the property has residential property worth over $3,000,000, a further 2% tax will be applied to the residential property value greater than $3,000,000. If the property is mixed class (such as residential and commercial), you pay the further 2% tax on only the residential portion of the property.

If the property includes land classed as farm only because it is used for an owner’s or farmer’s dwelling, up to 0.5 hectares will be treated as residential property.

Additional Property Transfer Tax

If you’re a foreign national, foreign corporation or taxable trustee, you must also pay the additional property transfer tax on the fair market value of the residential portion of the property if the property is within a specified area of B.C.

Have questions? Contact me to find answers.

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠
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The Canadian Government’s Home Buyers’ Plan (HBP)
The Canadian government’s Home Buyers’ Plan (HBP) lets you borrow money from your RRSP if:

1. You're a first-time home buyer; or
2. You’ve lived separately and apart from your spouse or common-law partner for at least 90 days and started living separately and apart anytime in the preceding 4 years as a result of a relationship breakdown (conditions apply).

If you’re looking to buy, build or maintain your primary residence, you can use this money for your down payment, closing costs, or both.

You can withdraw up to $35,000 from your RRSP per calendar year. Spouses or partners may also each withdraw up to $35,000 per calendar year — $70,000 in total. The borrowed funds must be in your RRSP for at least 90 days before being taken out. Withdraw the money no later than 30 days after the closing date.

You can borrow money from your RRSP tax-free if you pay it back to your RRSP starting no later than the second year after the withdrawal date. Pay back the full amount within 15 years, through regular payments. Every year, the government sends you a statement summarizing what you repaid and what's outstanding.

Want to discuss how this impacts your home-buying decision? Contact me with your questions and to find the answers you're looking for.

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠
Read

Journal Prompts to Get You Started

Have you ever sat down to write something, but found yourself staring at a blank page for way too long? This is a common phenomenon for many who begin journalling! Even though you’re writing about yourself, getting started can be tough. To fight your writer’s block, I’m sharing 12 journalling prompts guaranteed to get your wheels turning.

You’ll find inspirational topics about your career, relationships, personal growth and goal setting. The more you write, the more natural journalling will start to feel — don’t be afraid to give it a try!

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠

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This Is Not A Bubble

Canada wasn't hit as hard as the US during the housing crisis in 2008, yet people worry whether today's hot market will lead to a similar crash? Economists don't think so. They see the activity as evidence of a boom -not a path to a bust. Here are a few factors that make this market unique?

Contact me with questions as to how this affects your buying or selling decision in 2021!

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠

Read

Something's Phishy

Do you know how to tell if cybercriminals have gone “phishing” for your personal information? Learn to spot the red flags of a suspicious email so the identity thieves never get their big catch!

Here are some tips for identifying fake emails so you can click with confidence and keep your personal information protected. Remember these best practices whenever you run through your inbox!

Dan Petersen⁠

Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠

Read

Digital Ways to Show Gratitude

Looking for ways to show gratitude to people you aren’t seeing in person this season? The digital world has plenty of options for sending caring messages to family and friends! The information below offers a few heartfelt ways to tell another person you’re thinking about them when you can’t meet face-to-face.

Here's how online cards, gift cards, video messages, and other tactics can bring joy to others in an authentic way in just a few clicks.

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠

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Master The Art of Listening

Have you ever noticed how the strongest communicators are also the best listeners? To effectively communicate with somebody, you must be able to hear them out and meet them where they’re at. If you aren’t actively listening, you could be missing a big part of that person’s experience. The tips below offer a few strategies for active listening that will level up your communication in any situation. 

Try them out next time you find yourself in a serious conversation with a friend or colleague, and check out how it shifts the dynamic.

Dan Petersen⁠
Re/Max Action Realty LTD.⁠
(250) 262-7496⁠
dan@remaxaction.ca⁠

Read