| Summer flies by – but why is that? One reason is the link between time perception and information processing. The more information our minds process, the slower time seems to pass. So, if you’re enjoying time with family and friends, there’s not much new info to process, and time goes by fast. But if you’re bored at work, thinking about the background music, your next meal, the news, etc., that’s a lot to process. It seems like it should take a lot of time to process, so when you check the clock, time seems to have gone by slower. The moral of this story is – if time goes fast, you’re probably out there enjoying life! |
 This or That: Selling Your Home Edition? |
| This month I’ve put together a game of This or That for you. I’m challenging you to not only pick This or That, but also to think about why it’s the better course of action. After you’ve worked through the scenario, read on for the answer and explanation. And let me know how many you got right! |
| This or That: Underpricing or Overpricing Your Home? Underpricing is a common strategy in hot markets, since a lower asking price can attract multiple buyers and cause a bidding war. You could end up selling for more than the market value, just because of the demand. Overpricing deters buyers, your home sits on the market for longer, and it transfers the power to the buyer in negotiations. So, the clear winner is underpricing your home. This or That: Selling in the Spring or Selling in the Fall? Selling in the spring means there are a lot more homes on the market at the same time, and typically an active time in the housing market. The US data shows homes sell for 1.6% more than the monthly average in the spring. Selling in the fall means less competition for sellers, and motivated buyers who want to be in a new place before the snow flies. Your real estate agent will also be less busy and can provide you more attention and better service. So, there’s no wrong answer here! This or That: Professional Staging, Cleaning and Photography or DIY? Hiring a professional for every job takes time, coordination, and money – and gets great results. To determine if it’s the right move for you, consider how much more you’d be able to sell your home for. If the costs outweigh the benefits, it might be best to skip this step. However, don’t forget that pictures of your home are where potential buyers get their first impression of your home. Without good photos and an accessible environment for viewings, a great buyer might not be interested. This one is a toss up – consulting a neutral third party like your agent or neighbour might help you decide elements are needed and what you can do yourself. One pro tip I can offer you is to use ChatGPT (or Copilot, etc.) to help you with staging and décor – just put in the dimensions and ask for the ideal layout with your existing furniture. This or That: Getting an Inspection Before or After Listing? If you get an inspection before you list, you’ll be able to get a full and unbiased review of your home. You can choose to fix any issues, or list as is with a clear picture of your home. You won’t be surprised or blindsided by a buyers’ inspection coming up with issues, you can list the property at the correct price, and you’ll be in the driver’s seat during negotiations. Letting the buyer have an inspection saves money but gives them the power to negotiate. The better course of action here is to inspect pre-listing. This or That: Renovate to Increase Your Home’s Value or Leave As-is? Homeowners often complete expensive renovations before selling their home – but frequently don’t make their money back when selling. The new owners may have different tastes, or other plans for the layout or the home (including demolition!). Not only do renovations take time, but they may also require permits, inspections, or approvals. Overall, renovations before you sell are not financially beneficial. However, some repairs are critical to selling your home. Things like a leaking toilet or a hole in the drywall could easily deter a potential buyer and lower the value of your home. The best course of action here is to complete essential repairs so that the home is ready for immediate occupancy – but not spend money on extra renovations. This or That: Using a Real Estate Agent or Listing For Sale By Owner (FSBO)? If you go the FSBO route, you take on all the stress and legal responsibility of research, showing, legal documentation and more. The main reason people choose this route is to save on the commission costs of selling a home. The benefits of using an agent are plentiful, like getting the pricing, staging and photography right. You can also rely on them for all the paperwork. If a plot twist comes up, they’re there to help. You can also benefit from having your home listed on their website and their social media accounts to get your property more visibility. The winner for the average person is to use an agent. This or That: Requiring Notice in Advance or Showing Anytime? Keeping your home clean, tidy, and free of people and pets so that it’s ready for a showing is a real challenge for sellers if they’re living in the home they’re trying to sell. But for buyers who are already in the neighbourhood, inflexibility to view your home might discourage them from coming back. That means missed opportunities to sell and maybe even a lost sale. There isn’t a clear winner here, but being as flexible as possible with potential buyers creates the most opportunities for a sale. This or That: Emotions and Instinct or Advice and Numbers? This might sound like an easy one – but not so fast! The highest bidder might not be the person you want to sell your home to. Imagine you received a thoughtful letter with an offer explaining how the buyer pictures raising their children in your home – vs more money from a developer who plans to raze the property. However, you need a cool head during important negotiations. A few issues are likely to be uncovered during the home inspection. No home is perfect, so don’t let a request for minor repairs derail the deal. The winner here is a balance of emotions and numbers – and each reader will need to find an equilibrium they can live with. .  Summer BBQ Tips There’s no denying that summer = BBQ season in Canada. And with 78% of Canadians owning a BBQ, it might just be Canada’s favourite summer pastime! With that in mind, you might find yourself grilling the same thing week after week. To keep your barbeque game on point, here are a few grilling suggestions Produce Romaine: Halve a head of romaine lettuce and peel off the outer couple layers (or just buy romaine hearts). Baste them in cooking oil, salt, pepper and herbs. Char each side and serve as is; or chop it up and make a Caesar salad with it. Should take about 8 minutes to grill. Pineapple: Mix equal parts melted butter and brown sugar; add cinnamon to taste. Spear pineapple cubes onto kabob sticks and douse them in your butter mixture. Grill for about 8 minutes. Avocado: Halve avocados and remove the pits. Squeeze a lime over the insides then brush them with olive oil and salt. Put them on skin side up and barbeque for about 5 minutes. Seafood Lobster tails: Mix lemon juice, olive oil, salt, paprika and garlic powder. Score and coat your lobster tails, then grill for about 5 minutes per side. Baste throughout grilling for more flavour. Shrimp: Marinate your shrimp in a combo of olive oil, cilantro, lime, garlic, tequila, salt and cayenne pepper for 30-90 minutes. Skewer the shrimp and cook for a couple minutes per side or until pink. Dessert Banana splits: Slice a banana lengthwise and stuff with chocolate chips, mini marshmallows and cinnamon toast crunch cereal. Wrap in foil and put on the grill for about 5 minutes. Brie: Put your wheel of brie into a cast iron skillet and score the top. Top with honey, olive oil, and either fruit or wine and place the skillet on the grill for about 10 minutes. Serve with crackers or grilled bread slices. Grapes: Prepare a marinade of olive oil, balsamic vinegar, chili flakes and crushed garlic and soak the grapes for 10 minutes. Skewer and grill for 1 minute, turning halfway through. Let the grapes sit in the same marinade for 10 more minutes while they cool. Serve as is, with ice cream, or even burrata. DYK there’s more to grilling than just the food?! The grill itself matters, so give your BBQ a cleaning every few uses. And barbequing should be fun, so don your wildest apron and keep your camera handy to take pictures of those perfect char marks. Post it on social and tag me so I can keep up with your barbeque greatness all month long. And that’s it for August! Enjoy the rest of the summer, and I look forward to catching up with you when the kids are back in school next month.  Economic Insights from Dr. Sherry Cooper Most market participants did not expect the Bank of Canada to cut rates in late July. Incoming economic data paint a somewhat stronger picture. Consumer sentiment remains relatively weak in the face of considerable tariff uncertainty, despite the record highs achieved by both the US and Canadian stock markets. Business investment has slowed considerably, and layoffs have commenced in the hardest hit sectors (think autos, aluminum and steel). Longer-term interest rates have risen considerably since March, and housing activity remains tepid in many regions of the country. The recently released June housing data show a continued rise in sales, a fall in new listings, and flat home prices. This could well signal a turnaround in housing as we approach 2026. While Canada’s employment report was not quite as strong as the rip-roaring headline 83,100 job gain would suggest, it nevertheless reflects the resiliency of the Canadian economy. Specifically, the pullback in the unemployment rate (down 0.1 ppt to 6.9%) is very encouraging. It’s rare for the jobless rate to retreat, even for a month, during a recession. Moreover, the unemployment rate is arguably the most reliable data point in the monthly Labour Force Survey. June’s jobs report showed that public administration employment continues to grab an increasing share of the job market. Since 2016, public administration employment has increased by almost 40%, or more than twice the growth seen in the rest of the job market. Note that we use ‘public admin’ here, not the ‘public sector’, since the latter encompasses healthcare and education jobs as well. While the pandemic widened the gap, public administration has been outpacing job growth both before the disruption and after 2022. Looking ahead, this source of job growth is likely to diminish, as federal hiring is expected to slow down. The Liberal platform targeted $13 billion in savings from “government productivity” by FY28/29, and some of that is presumably going to happen sooner due to more immediate budget pressure. We are likely to see Canadian federal budget deficits of over $60 billion. The latest inflation data for June torpedoed the Bank of Canada’s potential easing on July 30. Headline CPI inflation posted a 1.9% year-over-year pace, up from 1.7% in May. More onerously, the core measures of inflation averaged 3.1% year-over-year gains, much too high for the Bank’s liking |