Hanne Selby Real Estate

Hanne Selby Real Estate Chilliwack Real Estate Agent with HomeLife Advantage Realty Ltd.

I have one of the most amazing homes in Chilliwack with a large master on the main floor. This home was built by a docto...
07/17/2023

I have one of the most amazing homes in Chilliwack with a large master on the main floor. This home was built by a doctor who spared no cost to make sure it was solid and had features that gave easy daily living yet the elegance of a home that feels like a personal Oasis when you enter. Featuring: rich hardwood floors, high ceilings, brand new gourmet kitchen with a $9000. Italian gas stove, a second built-in oven, very large pantry. The open design great room effect is ideal for anyone wanting to entertain or simply enjoy the executive lifestyle it offers. The master is large as well as eh spacious ensuite, a media room, conservatory. Upstairs you have an expansive loft with a huge family room, 1 bedroom, bathroom with room for 2 more bedrooms. Walk-in attic for easy access. The crawlspace is the biggest I have ever seen and is high, usable, and very dry with no musty smell. The backyard has high-raised garden beds as well as a patio area and is private. The home has high-quality security gates and is fully alarmed. Noew roof and also most new furnaces, 3 zone heating, A/C, and only asking $989,000. You could not build this home for under 1.2m so $989,000 is a giveaway price. It would be my pleasure to make a private viewing of this home if you are interested please message me. It is truly a MUST SEE listing R2787341

01/06/2023

DO YOU KNOW HOW A TFSA WORKS? ( TAX FREE INVESTMENT ACCOUNT)
This is an investment account as the name suggests- a tax shelter.
It is unlike RRSP where it is taxed if you take it out and use it.
TFSA has no associated tax deduction, which means contributing to it will help save taxes.
How does it work?
There is a yearly contribution limit, which is indexed to inflation in $500 increments.Contribution limits are cumulative, meaning that if you don’t deposit the maximum in one year, you can make up for it in following years.
Once the funds go into the TFSA the funds are off limits to Revenue Canada Agency.In other words, whether you’re earning interest, dividends or other kinds of investment income within the account, you do not have to pay income tax on those earnings. This is true whether you leave the money in the account or withdraw it.
You can open a TFSA account in many different ways. Banks and other financial institutions, for instance, offer TFSA products that might include high-interest savings accounts, mutual funds, GICs, or self-directed investing accounts where you can select your choice of ETFs, stocks, bonds and more. Your place of employment might also offer a group TFSA plan.
TFSA accounts are available to any resident of Canada who is 18 or older and has a valid social insurance number. Non-residents can hold existing TFSA investments, though any contributions made while a non-resident are subject to a 1 per cent tax, and contribution room only accumulates for residents.
If you make withdrawals from your TFSA, for example, you can recontribute the same amount, but not in the same year you took the money out. For instance, if you withdraw $10,000 in 2022, you can recontribute that $10,000 – in addition to the regular annual limit – in 2023 or later.
The biggest advantage of this savings is that you do not any tax on investment earnings and withdrawals. Another is that you are not required to take the money out when you turn 71. This will not affect government benefits such as Old age Security. A partner can not contribute to someones account. But they can give their partner money as a gift, which can be added to the TFSA, provide contribution room is available . These funds are solely the spouses at this point.
Your return on investments depends on where you put it .If they are in a savings account, then you will benefit from choosing the highest interest rate possible. Interest rats

09/25/2022

YES THE MARKET IS SHOWING PRICES DROPPING. for some time now we have seen bidding wars and all kinds of unrealistic sales happening which we knew would not last. The governemnt put in a cooling off period a little late. Changes are fine as long as they are done right and with solid research. Unfortunately some changes came in an an election booster. WHAT MAY WE SEE FROM THIS IN 2023? Sellers will sell lower and buy lower. More sellers will bcem renters, homes onwers will be adding suites for mortge helpers. Investors will be buying at lower prices for revenu rentals. How long will this last is unknown. It depends on the mortgage rates which when I got in 38 years ago was 22%, I sure hope we never see that again! But there is a few more hikes we hear are coming. If you are due to remortgege talk to your lenders and get advise.I am not lender and can not tell you what they have to offer. ITS TIME TO INVEST IN THE MARKET =BUY LOW HOLD AND SELL HIGH. You can use equity in your own home and many homes will cash flow nicely

09/18/2022

The bank of Canada is not finished playing with the rates. If you have a mortgage coming up souch base wiht your lenders.
The Bank of Canada has increased its benchmark rate by 0.75%, marking a fifth consecutive hike in its latest effort to get surging price growth under control.

The central bank’s move is its first three-quarter-basis-point jump of 2022, bringing its trendsetting policy rate to 3.25% – a full three percentage points above the rock-bottom level it occupied from the beginning of the COVID-19 pandemic to March of this year.

Still, the increase was also a smaller hike than that contained in the Bank’s previous announcement, with that July 13 decision seeing an unexpected 1% jump to combat inflation that has been spiking ever upwards in recent months.

The Bank’s announcement means that the benchmark rate is now above the so-called neutral rate, the level at which economic growth is neither boosted nor constrained, which is currently between 2% and 3%.

Read next: Canada housing market – what direction is it headed in?

Such a move had been widely anticipated, with Canadian Imperial Bank of Commerce (CIBC) executive director and senior economist Karyne Charbonneau indicating to Canadian Mortgage Professional in the wake of the Bank’s last announcement that the policy rate was likely to peak at 3.25%.

“We don’t think there’s space for this type of hike [one percentage point] anymore,” Charbonneau said in July. “So probably 0.75%, maybe in September, and then take a break… We think that by then, the economy will be slowing significantly on these higher interest rates and still-high inflation.”

The banking giant’s managing director and head of fixed income Ian Pollick reinforced that view in a late-August note to clients, indicating that a “narrative shift” was on the way after the Bank of Canada’s planned September hike.

The Canadian economy saw its growth stumble in the second quarter of the year, moving upwards at an annualized rate of 3.3% in Q2 – a figure that was lower than the Bank of Canada’s 4% expectation and analysts’ forecasts of 4.4%.

The Bank of Canada is scheduled to make its next announcement on its benchmark policy rate on October 26.

07/25/2022

Ottawa has launched the first phase of its program that offers interest-free loans to Canadians planning upgrades that will have a significant impact in reducing their home’s environmental footprint.
The program will provide interest-free loans of up to $40,000 per household to help finance eligible retrofits.
The first phase is open to eligible homeowners who are applying or have an open application for the Canada Greener Homes Grant. The second phase will begin August 31st.

WATER FRONT IN MISSIONThis .89ac property has a feeling of a private park. Imagine waking up to a morning coffee by the ...
07/13/2022

WATER FRONT IN MISSION
This .89ac property has a feeling of a private park. Imagine waking up to a morning coffee by the water or a glass of wine in the evening while enjoying the ever changing colours of the sky at sunset. Build that dock and tie up your boat. Fishing, kayaking and canoeing is perfect here. Renovate this older 4 bedroom, plus den rancher, and make it your own or with permits from the city build that area home . There is a workshop in the basement for your tools as well as additional sheds on the property. Your master bedroom is large and has a f/p to cozy up to on cooler days as well as majestic views of the water, does not get much better then that. This is a very peaceful setting. Let me know if you wish more details or would like to view the property. Asking 1.75m

07/13/2022

INTEREST RATES ARE GOING UP LOCK IN WITH YOU BROKER ASAP IF YOU PLAN ON BUYING A HOME SOON.
Bank of Canada Interest Rate Announcement -
July 13, 2022
The Bank of Canada surprised markets with a larger than expected full point increase in its overnight rate, bringing its key policy rate to 2.5 per cent. In the statement accompanying the decision, the Bank noted that inflation is higher and more persistent than the Bank expected and will likely trend near 8 per cent through the summer before easing to 3 per cent by the end of 2023. Core inflation, which removes the more volatile components of the CPI, is rising at between 4 and 5 per cent, indicating broad price pressures throughout the economy. While the economy is experience strong growth this year, the impact of Bank of Canada rate tightening is likely to slow the economic growth from 3.5 per cent this year to just 1.75 per cent in 2023.

The overnight rate is now within the Bank's estimate of "neutral", or the level of its policy rate at which inflation should run at 2 per cent and the economy is operating at full-capacity. However, it is clear from the Bank's statement that it expects it will have to tighten rates above neutral to bring inflation, and expectations of inflation, back to its 2 per cent target level. As of this morning, financial markets expect that the Bank of Canada will raise its overnight rate to above 3 per cent, and those expectations are currently embedded in 5-year fixed mortgage rates which have exceeded 5 per cent for the first time in over a decade. While there are encouraging, early signs that inflation is peaking, we will need to see a sustained decline in the rate of inflation over the next several months to see any relief on mortgage rates.
"Copyright British Columbia Real Estate Association. Reprinted with permission." BCREA makes no guarantees as to the accuracy or completeness of this information.

07/08/2022

ONE YEAR PRE PAID STRATA FEES INCLUDED. For a lucky buyer if sold by August 30th 2022. This is an absolutly adorable unit in a great building with a very alrge great room offering you the ability to move your furniture around to create your personal space. Walk in pantry and laundry room, 1 bedroom , 1 bathroom and a covered sundeck for your enjoyment. There is underground parking and storage as well. Located at 45665 Patten Ave Chilliwack B.C. asking price of $394,400. Why rent when owning is in many cases less then rent? This is a must see to really appreciate how nice nice this unit is.

07/02/2022

If anyone has a warhouse space big enough for 2 cars and a small office please let me know. It is for car wrapping and windwo tinting . Client would like soem exposure as well for customers. Has a successful busienss already in Mission opening a 2nd one in Chilliwack .

06/16/2022

The next Bank of Canada meeting is on July 13th, and some economists have predicted that the bank may increase the prime rate to 0.75%. If you have a renewal coming up this year or in 2023/2024 or you have an adjustable Mortgage or a B Mortgage or Private Financing. You should talk to a Mortgage Broker to review your options

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8387 Young Road
Chilliwack, BC
V2P4N8

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