I have listed a new property at 1775 CAMERON CRES in QUALICUM BEACH.
If you love the outdoors and have toys then this home is for you! Super well cared for 10 year old, 1250 sqft home with a massive 30 x 36 drywalled heated garage located within a 15 minute drive of some of Vancouver Islands best beaches. 2 bedrooms and one full bathroom upstairs, master with balcony to sip your favorite drink & just sit back relax and enjoy the sounds of Little Qualicum River running by. The main floor has an open concept kitchen with dining room and living room boasting a warm gas fireplace with sliding doors to your own private fenced year yard with sprinkler system in place that is perfect for the gardener and your pets. There also another 2 piece bathroom on the main floor for guests. Great quiet area on a dead end street with loads of privacy. Lots of room to park your RV with a full sanitary hookup, electric outlet plus a 2 piece bathroom in large detached heated garage. Just a short walk to Little Qualicum River Falls and walking trails, hiking etc
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I have listed a new property at 4123 ISLAND S HWY in CAMPBELL RIVER.
This 3309 Sq/Ft Waterfront home on a level half acre featuring 5 bedrooms plus a 1 bedroom self contained in-law suite. Every level has unbelievable views out to Oyster Bay, Georgia Strait & the snow capped Coast Mountain range & Sunshine Coast beyond. There's a Master on the main plus another bedroom & an amazing chef's custom kitchen built by a local craftsman with book matched fir that wraps around a bookshelf & mantle of a beautiful river rock fireplace. There's a renovated main bath with a real claw foot tub, shower & heated floor and a new hot water tank. There's a partly covered deck off the kitchen & a deck the length of the house off the living room. Upstairs the attic space is finished with 3 bedrooms & a 3 piece bath. The basement has a large rec room with a fireplace & new flooring that's connected to the upstairs, there's a large laundry room & a self contained 1 bedroom in-law suite with it's own entrance & ocean views. Most of the windows have been replaced & there's a high end Heat Pump to keep you warm in the winter & cool in the summer. The power has been upgraded to 200 amp. There are beautifully established plants & trees outside making the yard very private from the neighbours & the street. The ocean side of the home is a landscaped oasis of decks & lawn that lead to a fire pit & the beach. There's a huge driveway, lots of parking & RV/boat parking & a double carport with a large workshop /storage area at the front.
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I have listed a new property at 344 ALDER S STREET in CAMPBELL RIVER.
Great family or starter home featuring 3 good bedrooms on the main floor, master bedroom with a 2 piece ensuite and peek a boo ocean view. The kitchen has been opened up to the living area to give you that open concept living and dining room. The basement has cozy gas fireplace, 3 piece bath, could also be a in-law suite, another bedroom, or keep it as a family room. Most of the the "big stuff' is done! Build some equity quickly after you move in and finish the last few things off as you enjoy your new home. There is a three year old roof, newer vinyl windows, renovated upstairs bathrooms & freshly painted upstairs. You will love the extra large two door garage that provides room for a workshop and you can still park a vehicle in the other side. Nice landscaped lot with big sunny backyard The location is fantastic and is within easy walking distance to Strathcona Gardens Rec Centre, Merecroft Shopping Centre & Restaurants, Pinecrest School and the Campbell River Hospital. Call Paul Stapley at RealPro Real Estate Services 250-914-8877 to arrange your private tour.
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Bank of Canada Stands Ready To Do Whatever It Takes


On the heels of a devastating decline in the Canadian economy, the Bank of Canada is taking unprecedented actions. With record job losses, plunging confidence and a shutdown of most businesses, this month’s newly released Monetary Policy Report (MPR) is a portrait of extreme financial stress and a sharp and sudden contraction across the globe. COVID-19 and the collapse in oil prices are having a never-before-seen economic impact and policy response.

The Bank’s MPR says, “Until the outbreak is contained, a substantial proportion of economic activity will be affected. The suddenness of these effects has created shockwaves in financial markets, leading to a general flight to safety, a sharp repricing of risky assets and a breakdown in the functioning of many markets.” It goes on to state, “While the global and Canadian economies are expected to rebound once the medical emergency ends, the timing and strength of the recovery will depend heavily on how the pandemic unfolds and what measures are required to contain it. The recovery will also depend on how households and businesses behave in response. None of these can be forecast with any degree of confidence.”

“The Canadian economy was in a solid position ahead of the COVID-19 outbreak but has since been hit by widespread shutdowns and lower oil prices. One early measure of the extent of the damage was an unprecedented drop in employment in March, with more than one million jobs lost across Canada. Many more workers reported shorter hours, and by early April, some six million Canadians had applied for the Canada Emergency Response Benefit.”

“The sudden halt in global activity will be followed by regional recoveries at different times, depending on the duration and severity of the outbreak in each region. This means that the global economic recovery, when it comes, could be protracted and uneven.”

Today’s MPR breaks with tradition. It does not provide a detailed economic forecast. Such forecasts are useless given the degree of uncertainty and the lack of former relevant precedents. However, Bank analysis of alternative scenarios suggests the level of real activity was down 1%-to-3% in the first quarter of this year and will be 15%-to-30% lower in the second quarter than in Q4 of 2019. Inflation is forecast at 0%, mainly owing to the fall in gasoline prices.

“Fiscal programs, designed to expand according to the magnitude of the shock, will help individuals and businesses weather this shutdown phase of the pandemic, and support incomes and confidence leading into the recovery. These programs have been complemented by actions taken by other federal agencies and provincial governments.”

The Bank of Canada, along with all other central banks, have taken measures to support the functioning of core financial markets and provide liquidity to financial institutions, including making large-scale asset purchases and sharply lowering interest rates. The Bank reduced overnight interest rates in three steps last month by 150 basis points to 0.25%, which the Bank considers its “effective lower bound”. It did not cut this policy rate again today, as promised, believing that negative interest rates are not the appropriate policy response. The Bank has also conducted lending operations to financial institutions and asset purchases in core funding markets, amounting to around $200 billion.

“These actions have served to ease market dysfunction and help keep credit channels open, although they remain strained. The next challenge for markets will be managing increased demand for near-term financing by federal and provincial governments, and businesses and households. The situation calls for special actions by the central bank.”

The Bank of Canada, in its efforts to provide liquidity to all strained financial markets, has, in essence, become the buyer of last resort. Under its previously-announced program, the Bank will continue to purchase at least $5 billion in Government of Canada securities per week in the secondary market. It will increase the level of purchases as required to maintain the proper functioning of the government bond market. Also, the Bank is temporarily increasing the amount of Treasury Bills it acquires at auctions to up to 40%, effective immediately.

The Bank announced new measures to provide additional support for Canada’s financial system. It will commence a new Provincial Bond Purchase Program of up to $50 billion, to supplement its Provincial Money Market Purchase Program. Further, the Bank is announcing a new Corporate Bond Purchase Program, in which the Bank will acquire up to a total of $10 billion in investment-grade corporate bonds in the secondary market. Both of these programs will be put in place in the coming weeks. Finally, the Bank is further enhancing its term repo facility to permit funding for up to 24 months.

The Bank will support all Canadian financial markets, with the exception of the stock market, and it “stands ready to adjust the scale or duration of its programs if necessary. All the Bank’s actions are aimed at helping to bridge the current period of containment and create the conditions for a sustainable recovery and achievement of the inflation target over time.”

This is exactly what the central bank needs to do to instill confidence that Canadian financial markets will remain viable. These measures are a warranted offset to panic selling. Too many investors are prone to panic in times like these, which has a snowball effect that must be avoided. As long as people are confident that the Bank of Canada is a backstop, panic can be mitigated. The Bank of Canada deserves high marks for responding effectively to this crisis and remaining on guard. Governor Poloz and the Governing Council saw it early for what it is, a Black Swan of enormous proportions.

As a result, Canada will not only weather the pandemic storm better than many other countries, but we will come out of this economic and financial tsunami in better condition.


DR. SHERRY COOPER

Chief Economist, Dominion Lending Centres



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I have sold a property at 3412 LODGE DRIVE in BLACK CREEK.
Looking to retire or just relocate to a beautiful quiet & rural area, this is it! Find your peace and tranquility, all you will hear is the calming waters of the Oyster River running by. The 2 bed & 1 bath ranch style home has a bright open floor plan that's warmed by a newer wood stove that will help you keep the utility costs down. The pride of ownership shows throughout with many quality updates including newer kitchen cabinets, counters, newer appliances, plumbing, electrical, flooring, paint and trim. This home is in perfect move in condition. The 0.81 acre lot gets good sun is mostly level with a few nice landscaping features plus room for a nice garden and situated in a quiet & safe rural neighborhood midway between Campbell River and the Comox Valley. For those who have hobbies or just like to tinker the home has a good size double garage, plus a heated detached 12x16 workshop. Owner states the well water is great for drinking and has never dried up even in the warmest summers. Call Paul Stapley at RealPro Real Estate Services 250-914-8877 for an appointment to to view before its gone.
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I have sold a property at 140 701 HILCHEY ROAD in CAMPBELL RIVER.
Attention investors & first time buyers, Trails Edge 3 bedroom, 2 full bathroom townhouse. This newer modern complex is in a prime Willow Point location close to good schools, North Island college, Beaver Lodge trails, shopping, transportation and the Sportplex. The master bedroom has large walk in and ensuite is on the main floor with 2 more bedrooms up. This home is in a quiet part of the complex with a deck off the living room and a patio and private yard off the lower level. Rentals are allowed in this complex and low strata fees make this an excellent investment. Pets are allowed in this complex. Additional features include, custom cabinets, hardi-plank siding and an extra deep garage.
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I have listed a new property at 425 ARIZONA DRIVE in CAMPBELL RIVER.
Live or retire in beautiful Campbell River. This fabulous modern & open 1740 sq ft plan is designed for everyday living & entertaining. Designer kitchen has tons of shaker style white cabinets on the large island with quartz counter-tops. Add to that a butler's pantry with bright window & sink for meal prep & additional storage to hide away small appliances. One level living at its finest. The deluxe master bedroom retreat is completed by a 5 piece ensuite, including his & her sinks, heated tiled floors, built-in soaker tub, plus a separate custom shower with bench. There's two more bedrooms separated from the master that share a full bath for family or guests also with quartz counter- tops. A very clean modern energy efficient home with a 3 ton heat pump, gas hot water on demand, a stand alone HRV system, is also thoughtfully pre-wired for solar panels, electric car. RV hookup, Walking distance to trails, beaches & short car ride to Storey Creek golf course. "Builder has almost completed a home with the same floor plan that will be available to view"
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