A job interview is your first (and sometimes only) chance to make a positive impression on a potential employer. If you blow it, you'll probably feel you’ve lost your chance at a job you spent hours preparing for and visualizing. Additionally, a perceived need to “make up” for last year’s pandemic-related setbacks has added to personal pressure for a strong start to 2021.

However, landing the ideal job can sometimes be harder than the job itself. Here are tips for avoiding, or spontaneously correcting, interview mistakes:

• You can’t get to the interview on time. Typically, you’re prompt, but an unavoidable delay pops up like a problem with public transportation or a car that simply won’t start. Chances are, the hiring manager has also had unexpected situations pop up in life— give them a call and explain the situation. Provide a solution, such as rescheduling for later in the day or going virtual for the interview. When you do connect, apologize and explain what happened, and show appreciation for their willingness to meet with you... then move on and shine during the interview itself.

• You’re so nervous that you aren’t doing your best. Thorough preparation and a practice interview can help ease your nerves, but sometimes you’re overwhelmed. If that happens, simply pause, admit you’re nervous because the position is valuable to you, and buy yourself a moment to regroup. Take a sip of water or coffee, center yourself, and gather your thoughts so you can respond to the question. Many interviewers will appreciate your honesty and authenticity.

• You don’t ask questions. Some interviewers ask whether you have any questions as a test—they want to see if you’re really interested in the organization, or just looking for any job. As you go through the interview, make mental note of a few key topics, and later on phrase a question that addresses something you’ve already covered, but ask for more detail so you can continue the conversation.

• You didn’t do your research or you focused on a different subject area. Employers are impressed by candidates who walk through the door with a lot of knowledge about their organization. Do your homework ahead of time, but if you’re hit with a question you can’t answer, don’t panic. Do your best to make it a conversation to show you are willing to pick up the information as you go, then focus on answering the next question knowledgeably and confidently. In your follow-up thank you letter or email, provide more detail on anything you missed, showing off your ability to pursue answers.

A mentor of mine once said, “Never evaluate your life looking forward, instead turn around and examine your progress from where you’ve come from.” As we reach the end of the year, our natural tendency is to evaluate progress, results, goals and dreams based on outcomes achieved during the calendar year.

The ups and downs of this year give us the opportunity to evaluate our year and set future goals based on new measures. This year has been a great teacher and here are some important lessons I’ve learned:

• Instead of judging success on outcomes, measure accomplishments in adaptability.
• Instead of evaluating progress in distance, measure the journey by turns on the path.
• Instead of planning based on an imagined future, be guided by the next few steps.

When measuring the successes and failures of this year, remember to include the flexibility, adjustments and loving care you’ve also provided along the way.

If you’ve ever heard the quote, “A setback is a setup for a comeback,” then 2021 may become a year to remember!

Should you buy a new car? Reconsider your living space? What does the year ahead hold for you? This timeless list process will help you find clarity and get started on your next steps in an organized fashion.

1. Make two lists. On one list, write down all the benefits of making this choice. On the other, compile the many reasons you’d rather not. Write down the worst thing that could happen and your other fears and concerns. It doesn’t matter if both lists are the same length, but try to write out at least 10 reasons on each list.

2. Consider your feelings. Look over both lists. Take note of your initial reaction to each one. Are you drawn to one more than the other? Does either list inspire positive or negative feelings? These feelings may be an indication of the outcome you’re leaning toward.

3. Delete any false statements. Statements influenced by fear that might exaggerate a more negative outcome should be the first to go. Don’t let fear rule your process.

4. Make connections with your core values. Think about the things that matter most to you— family, integrity, lifestyle or something else. Place a check mark next to the items on your lists that correspond to these values.

5. Highlight areas of concern. Sometimes what prevents you from making decisions are certain risks associated with that choice, especially if things don’t work out. Highlight any of the statements on your lists associated with these risks.

6. Tally your results. Count only those items you checked off, and compare their number to any items that were highlighted. Hopefully, the number of results on one list are longer than the other, suggesting a clear indication of the choice you should make. In the event of a tie, give more weight to the list that feels most authentic to your values.

Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 1.0% in November year-over-year. This is the largest increase since the pandemic started in March. Excluding gasoline, the CPI rose by 1.4%. Prices rose in six of eight components year-over-year in November, with the recreation, education, and reading index contributing the most to the increase. Growth in the Bank of Canada's three measures of trend inflation remains unchanged from the previous month, averaging 1.7%.

Regionally, the CPI was positive in eight provinces. In BC, CPI rose by 1.1% in November year-over-year, up from October's increase of 0.5%. Strong price growth continued for health and personal care (3.3%) and shelter (2.4%). In contrast, gas prices continue to be a drag on BC's inflation (-12.3%).

Costs for shelter continue to increase, as rental rates rise and record-low interest rates put downward pressure on mortgage costs, making single-family homes more attractive to households demanding more space. As containment measures expand in many provinces, consumers are spending more on furniture and household appliances, which remain above pre-pandemic levels. Canadian inflation is expected to remain subdued in the near future. In this environment, the Bank of Canada will continue to keep interest rates low.

For more information, please contact: Gino Pezzani.
Link: https://mailchi.mp/bcrea/canadian-inflation-nov-december-15-2020

Vancouver, BC – December, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 9,416 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November 2020, an increase of 42.1 per cent from November 2019. The average MLS® residential price in BC set a record of $816,074, a 9.3 per cent increase from $746,310 recorded the previous year. Total sales dollar volume in August was $7.68 billion, a 55.4 per cent increase over 2019.

“Home sales were once again unseasonably strong in November with several markets setting records for the month,” said BCREA Chief Economist Brendon Ogmundson. “While demand continues to be strong, the supply of listings has reached near-record lows in several parts of the province, with prices rising sharply as a result.”

Active listings were down close to 14 per cent year-over-year in November, which contributed to a 34.8 per cent sales-to-active listings ratio. Consequently, the provincial average price rose 9.3 per compared to this time last year with many markets seeing even stronger price growth.

Year-to-date, BC residential sales dollar volume was up 32.3 per cent to $66.43 billion, compared with the same period in 2019. Residential unit sales were up 18.7 per cent to 85,625 units, while the average MLS® residential price was up 11.4 per cent to $775,845.

For more information, please contact: Gino Pezzani.

Canadian housing starts increased by 14% m/m to 246,033 units in November at a seasonally adjusted annual rate (SAAR), following an increase in the previous month. Housing starts increased in 9 of 10 provinces with the strongest gains in BC and the Atlantic. Building activity in the multi-unit segment rebounded after two consecutive months of decline. November's strong performance increased the six-month moving average to a historic high of 231,491 units SAAR.

In BC, housing starts increased by 53% m/m to 46,608 units SAAR in November, following two consecutive months of decline. Building activity was up by 76% in the multi-unit segment, while single-detached starts were down by 1%. The increase in the multi-unit segment was concentrated in Vancouver. In the near term, we can expect housing activity to continue to be supported by strong demand and historically low borrowing rates but are not expected to remain at elevated levels. The value of BC residential building permits was down by 12% in October. Compared to the same time last year, housing starts were down by 2% in BC.

For more information, please contact: Gino Pezzani.
Link: https://mailchi.mp/bcrea/canadian-housing-starts-nov-december-15-2020

Highlights:
• Bank of Canada actions have pushed mortgage rates to record lows
• Canadian economy bounced back in the third quarter, but the second
wave looms
• Bank of Canada on hold, but when will quantitative easing end?

[gview file="https://vanhomesales.com/wordpress/wp-content/uploads/2020/12/mortgagerateforecast.pdf"]

Click here to view the December 2020 Mortgage Rate Forecast.
For more information, please contact: Gino Pezzani.

The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank is also continuing its quantitative easing (QE) program, purchasing at least $4 billion of Government of Canada bonds per week and re-affirmed its forward guidance on future interests moves, committing to holding the policy rate at 0.25 per cent until slack in the economy is absorbed and inflation is sustainably trending at 2 per cent. In the statement accompanying the decision, the Bank noted that the recovery underway will be choppy due to rising cases of COVID-19 and will continue to require extraordinary monetary support from the bank.

Current slack in the economy, along with low energy prices, is holding Canadian inflation well below its target of 2 per cent. Total CPI inflation is trending under 1 per cent while the Bank of Canada’s measures of “core” inflation remain below target despite the massive expansion of the Bank’s balance sheet necessary to facilitate its quantitative easing program. With the arrival of viable vaccines, we may see the Canadian economic recovery materially accelerate in the second half of 2021. If that occurs, the first stage of tighter monetary policy from the Bank will be how and when it decides to taper purchases of government bonds over the next year. As it does, we may start to see a divergence in variable and fixed rates by early summer as bond yields rise and fixed mortgage rates move marginally higher.

For more information, please contact: Gino Pezzani.

By now, many of us have heard of at least one study confirming that children who play a
musical instrument tend to have a higher Intelligence Quotient (IQ) and ultimately score better on standardized tests. Additionally, research suggests that learning a musical instrument engages the same areas of the brain used for doing math and science.

If you want to introduce an instrument, be prepared for a lifelong commitment. First, start with a few conversations to figure out if your child has a genuine interest in picking up an instrument. If so, you can support them by providing the foundation for a lifetime love of music:

• Pay attention to what type of music they most enjoy. Do you have a country kiddo who likes the sound of a fiddle and guitar, or are they more interested in the bass line of the latest pop beat? Set them up so there are future opportunities to play the music they love.

• Help them choose their first instrument. Find out if your local music store lends or rents instruments, and let them try out a few different instruments so you can gauge their level of engagement and ability.

• If your child decides after just a few lessons they want to try a different instrument, let them. They might find the one they most enjoy or gravitate back to their original after realizing all music takes work.

• Find age-appropriate activities for them to enjoy music that have nothing to do with their own instrument. For example, give a piano player a mental break by letting them have an impromptu afternoon where they simply rattle on a tambourine or sing at top volume to a few favorite songs. They’ll return to their instrument at the next practice session feeling refreshed.

• Stay involved. Your commitment is just as important as your child’s. Help them stay motivated to practice daily by having them play something for you, which gives them a chance to show off what they are learning. You’ll be their biggest fan and mentor. Spend time listening to music together, and expose them to artists they might not know about.

• Most of all, remember to keep things upbeat and fun!

You might be surprised to notice some of your most creative thoughts come to you
when you’re comfortably relaxing in bed. A Microsoft survey of 2,000 people revealed
many of their best ideas tend to pop up as they’re dozing off, in the middle of the
night or when they first wake up in the morning.

Take a minute to concisely put thought into challenging situations as you’re drifting off
to sleep, and write down any ideas and solutions that come to you— farfetched as
they might seem. Try to roll through problems first thing as you wake up, without
dwelling or fretting over them. You might discover some unique ideas and creative
solutions to situations that nag at you during normal waking hours.

Canadian employment gained 62k jobs in November (0.3%, m/m), increasing in Ontario, BC, and the Atlantic provinces. This is the seventh consecutive month of increases, putting national employment within 574k of its pre-COVID February level. The national unemployment rate decreased by 0.4 percentage points to 8.5%, continuing the steady fall from the record high of 13.7% in May. Compared to the same month last year, Canadian employment was down by 2.5% (-482k).

In BC, employment grew by 24k (1.0%, m/m) in November, following a gain of 34k in the previous month. The province is now at 99% of its pre-COVID February employment level. The unemployment rate fell for the sixth consecutive month, down by 0.9 percentage points to 7.1%. Meanwhile, in Vancouver, employment increased by 18k jobs (1.2%, m/m). Compared to one year ago, employment in BC was down by 1.8% (-47K) jobs.

Despite the new restrictions introduced and new COVID-related workplace safety requirements, employment still grew in BC but at a slower rate than the previous months. Gains in full-time work were partly offset by losses in part-time employment. Several industries saw increases, including accommodation and food services, transportation and warehousing, wholesale and retail trade, and construction. On the whole, we can expect employment growth to continue to slow as COVID-19 cases rise, and some provinces could prolong containment measures well into December and early 2021, as Quebec just announced heightened restrictions around holiday gatherings.

For more information, please contact: Gino Pezzani.

Link: https://mailchi.mp/bcrea/canadian-employment-nov-december-4-2020

Did you know the ancient Babylonians are said to have been the first people to make New Year’s resolutions? As far back as 4,000 years ago, there were people looking back on what had transpired throughout the past year while simultaneously looking ahead to improve their future.

Many years later, the ancient Roman god Janus was honored with a January holiday, as he symbolically looks in two directions at once: behind to remember what has happened, and ahead to build the future based on lessons learned from the past year.

December is settling in with those early, dark evenings and we are on the precipice of another winter season. My friend, I hope you can find a moment this month to pause in silence and really take stock of how much this year gave us: the opportunity to grow, to learn, and to prove to ourselves that we could thrive under tough conditions.

It has been a challenging year, admittedly, but I am going to enjoy every moment of this holiday season and I hope you do, too. This is a year to savor every moment that was hard earned, indeed.

I hope you wake up smiling with joy every day in December at the thought of contacting a friend later in the day or trying a new wintery recipe in the kitchen; I hope you have mornings filled with happiness, afternoons filled with joy, and I hope you end those days by falling asleep smiling when you simply can’t keep your eyes open a minute longer.

I also hope you are starting to build your list of resolutions to whittle down throughout the month because, symbolically, under the cold earth are seeds of new life and January is just around the corner...

My friend, I wish you a very, merry holiday season!

Gino Pezzani
Your Real Estate/Mortgage Consultant For Life