The Myplace Playbook // 059

Hey Everyone,

The lawns are green again. The lake is calling. The bikes are out of the garage.

And if you've been around the Kootenays for more than one spring, you already know what comes next: once the mountains dry out and the sun gets going, the whole world wants to be here.

That's great news if you own. It's a different kind of pressure if you're trying to buy.

Because summer doesn't just bring longer evenings and better golf. It brings more buyers, more competition, and, in this particular market, more urgency for anyone who's been telling themselves "I'll figure it out after the snow melts."

Well. The snow has melted and at this time of year, the grass is greener on our side of the Rockies.

The Summer Crowd Is Already on Its Way

All those spring forecasts we've been talking about since February, 5.1% more national sales, pent-up buyers finally off the bench, stable rates pulling people back in, this is when that actually shows up in your neighbourhood. In your driveway. In the listings you've been half-scrolling in the morning with your coffee.

And remember what we talked about a few editions back, the Alberta buyer?

The one who spent a long weekend at Koocanusa or a ski trip in Fernie and started running the numbers on the drive back home? Summer is when they show up in person. They AirBNB something, look at listings while they're here, and sometimes make an offer before they drive home.

They're not waiting to see what happens. They already decided. They're just looking for the right property. I see them on Facebook just about every day:

So if you've been waiting for summer to shop, so has everyone else. The window you thought you were waiting for is actually the window that closes on you if you're not ready.

The Rate Picture Right Now

Here's where things stand: the Bank of Canada is still holding at 2.25%, with prime at 4.45%. Oil running hot has kept inflation risk on the table, and the bond market has responded, fixed rates haven't drifted down the way people were hoping back in January.

That doesn't make it a bad time to move. It just means the plan you build today should be built around rates roughly where they are, not around a cut that may or may not show up in the fall.

The good news: if you're renewing or buying within the next 120 days, a rate hold is still free. You lock in today's rate. If rates come down before you close, you get the lower one. If they tick up, which is the more realistic risk right now, you're protected.

It's the easiest, cheapest hedge available. And most people don't use it.

But Not Everyone Is Feeling the Summer Energy Right Now

The Kootenays look beautiful this time of year. But not everyone is heading into this season feeling light.

Maybe your renewal hit and the payment was a bigger jump than you expected. Maybe you've been carrying a line of credit since January waiting for breathing room that hasn't come. Maybe you're watching your neighbours list their place and thinking, "We should probably do something," but the whole thing just feels like a lot.

Are things looking a little tight this summer?

Do you feel like you're kind of drowning?

Hit reply. Tell me where the pressure is.

I've helped a lot of people lighten that load, restructuring, refinancing, rolling higher-interest debt into something more manageable, and most of the time, there are more options than people realize. Sometimes even one small move changes the monthly picture more than you'd expect.

The conversation is free. So is the relief of knowing where you actually stand.

Your Move

You can't control what oil does. You can't control what the Bank of Canada decides next announcement. You definitely can't control how many Albertans fall in love with your town this summer.

But you can control whether you go into this season with a plan, or whether you watch it play out for other people.

If you're buying, renewing, refinancing, or just carrying some weight you'd like to put down, reply and tell me where you're at. We'll walk through it together.

Summer is short in the Kootenays.

Don't let your timeline be shorter. Hit reply and tell me where you’re at: buying, renewing, or just thinking out loud. We’ll walk through it together.

-Andrew