March Market Snapshot

Buyers Get a Jump on the Spring Market taken from the Ottawa Real Estate Board  April 5, 2018 Members of the Ottawa Real Estate Board sold 1,660 residential properties in March through the Board’s Multiple Listing Service® System, compared with 1,478 in March 2017, an increase of 12.3 per cent. The five-year average for March sales is 1,339. March’s sales included 358 in the condominium property class and 1,302 in the residential property class. “Inventory continues to fall below normal ...

Buyers Toolkit – Springtime

Buyers Toolkit – Springtime Spring is in the air, and the real-estate market is ramping up for the beginning of buyers’ season.  Things tend to move faster in the spring and houses for sale are often sold shortly after they are listed.  As a potential home buyer, it is important to be prepared as possible before you start looking at potential homes – that way, the chance of losing your “dream home” to another buyer is greatly decreased. You may ...

Landlords and Legalization: What budding weed laws may mean for Landlords

Landlords and Legalization: What budding weed laws may mean for Landlords With the legalization of marijuana on the horizon, property owners of rental units are wondering what that will mean for them. As all the rules and regulations surrounding cannabis use have yet to be ironed out, it’s only natural that landlords are beginning express concern, or in some cases excitement surrounding the opportunities legalization will present. The legalization of medical cannabis passed in 2001, but as Canada moves forward to ...

Spring Cleaning 101: Tips On Getting Your Home Ready For Sale

Spring Cleaning 101: Tips On Getting Your Home Ready For Sale Contrary to years prior, 2018 has presented us with a rather mild, wet March. As such, we’ve barely approached the standard season for “April showers” and have already received enough rain and wet weather to rid most of the snow! The month, however is still young; and, as unpredictable as Mother Nature can be when it comes to delivering cold weather and long winters, we think it’s safe to ...

Wanted: Ottawa Homes for Sale

Wanted: Ottawa Homes For Sale When the calendar rolled over into 2018 many real estate experts across Canada were speculating the housing market to “cool off” with  tighter mortgage rules and higher interest rates impacting home buyers.  While that may be the case in other real estate markets,  in the Ottawa Real Estate market the biggest factor in February’s 2.8% drop in the number of sales (year over year), is that listing inventory is scarce. “There is no doubt our sales ...

New Mortgage Rules – Renewing and Refinancing

New Mortgage Rules – Renewing and Refinancing January 1st, 2018 Canada’s new mortgage rules came into effect and it was big news. These new rules appear to have the greatest impact on those looking to qualify for a new mortgage but if you are looking to renew or refinance your mortgage, you may be impacted as well. At the centre of the new rules is a stress test requiring applicants to qualify at a rate at least 2% higher than ...

Millennials in the Market

MILLENNIALS: CHANGING MARKET EXPECTATIONS & TREND REALITIES When it comes to the future in real estate, all eyes fall to the millennials, who are just beginning to be seen on today’s markets. With the millennial generation however, we are seeing a shift in the previous real estate trends from purchasing a primary residence, to investing in vacation property. What is it about the millennial generation today that has us seeing such a change in the markets? The millennial generation is ...

Is it time to invest in a second “nest”?

College students, and living options   If you’re the parent of a college/university age student, and you haven’t considered it yet, perhaps now is the time you will. As spring is just around the corner, it’s time to think about what investments you can make, and an investment that shouldn’t be overlooked is buying a home. More specifically, buying a home for your college-aged student to live in during school. Should you purchase a home in your students’ university/college town ...

Ottawa Real Estate Market Update : Low Inventory Continues Into 2018

The Ottawa Real Estate board’s recently released statistics show that home buyers are still actively searching for properties.   Sales were up over 7% (year over year) in spite of the low inventory, which is a trend that is continuing from 2017.  January 2018 listings 994 (RES) and 406 (CONDO) compared with the 5 year 1,396 for residential and 500 for condominiums.   If the decrease in supply in both the residential and condo markets continues into the Spring,  it may put an upward ...

Winterlude 2018

The Winter months in the Capital are arguably some of the most enjoyable for its residents and their families. Christmas has passed, yuletide memories have been made, and we’ve welcomed the New Year with wide opened arms. And with the anticipation of new beginnings in 2018, we take in a deep breath of fresh, brisk air and bundle up to embrace what this year has to offer; including the great outdoors. In fact, with the many winter-filled activities that our ...

SPRING into ACTION: Sellers

SELLERS Now’s the time to spring into action if you’re a prospective home seller. Getting your home prepared for the spring market now, will help you move quickly and efficiently  when the time comes to list. Spring is the optimum time to sell a home, as the largest numbers of buyers are actively searching for a new home during the months of April, May, and June. If you’re looking for tips, tricks, and ideas to get your home market ready, ...

SPRING into ACTION: Buyers

BUYERS Spring hasn’t begun to crack through the winter thaw, but that doesn’t mean there’s time to wait if you’re planning on purchasing a home this spring. Be prepared for the Spring Market, and ensure your home buying experience is a great one by organizing your paper work, mortgages, ideal houses, and pricing ahead of time. Spring into this home-buying season ready to buy, so that house you’ve been dreaming of, doesn’t land in the hands of another buyer. Credit ...

Moving to Ottawa? The Real Question is "Why Not?"

There’s no doubt about it, Ottawa has topped the list of real estate markets to watch in 2018. With it’s ever growing communities, and variety of opportunities for all ages, Ottawa ranks among the world’s most desirable cities to call home. With is diverse neighbourhoods, excellent education system, distinct seasons, and constant opportunities for entertainment, Ottawa gives individuals lots of reasons why they should move here. The real question is: Why not move to Ottawa? The National Capital city is ...

An Era of Change: 2018

An Era of Change: 2018  Canadian real estate is in an era of change.  2017 closed with a bang, as we saw some of the largest increases in real estate prices in nearly a decade. The curiosity now turns to 2018, and what can we expect to see in Ottawa, and across Canada. Ottawa is climbing the list as a hot spot for home buyers this year, joining popular cities like Toronto, Montreal and Vancouver.  Ottawa may hold an even higher interest for ...

A Strong Finish for Ottawa’s Real Estate Market in 2017

2017 was quite a year in the Ottawa Real Estate market; record breaking numbers in units sold (condominium sales up over 22%) and double digit (percentage) increases in average sale price in several neighbourhoods, Canada 150 (or should we say Ottawa 150?!) was anything but average! Below we’ve included the latest news release from the Ottawa Real Estate Board.   Please note: average sale price information can be useful in establishing trends over time but should not be used as an indicator ...

2017 Recap!

2017 was an amazing year for Real Estate in Ottawa! Records were broken and property values continue to increase. As the year comes to a close, let’s take a look back at some of the highlights with our Top 20 Blog Posts of 2017! #20 – Understanding Multiple Offers This year the Ottawa market became more competitive than ever before and multiple offers have become far more common. Here are some helpful hints to help you navigate multiple offers! #19 ...

Buying without a Realtor

Buying a house is a big investment, so it is natural to look for ways to save money wherever possible. Some buyers and sellers may assume that they can stretch their budget further if they handle the entire purchase themselves. Doing this may seem like a good way save you money, but can also lead to problems and higher costs in the long run.  As a buyer, hiring a Realtor typically does not cost you a cent; your Real estate ...

Winter: Time to keep the heat IN, and your costs DOWN

As winter begins to cover the ground with snow, we Canadians are aware, there’s much more coming our way than just a light dusting. Shoveling snow, spreading salt, and digging out your frozen car, are just some of the “joys” winter may bring to you this season. As the costs of heat and electricity continue to rise, Jack Frost will be nipping at your pocketbook, wanting to extend his winter chills to the interior of your home. If you’re hoping ...

Christmas in the Capital

December has arrived! And with it, for many, comes the anticipation of holiday activities, traditions and celebrating with family and friends. We’ve been lucky to have had some truly incredible events in the Ottawa area this year, but it’s not over yet!   As Canada 150 comes to a close, there are a multitude of Christmas events that are taking place all over our City, allowing us to commemorate the end of one year, and the start of something new with ...

Ottawa Real Estate Latest Market Snapshot

It’s hard to believe November is over but here we are!  If you’ve been following Ottawa real estate you’ll know it’s been a busy 2017 and December will likely be no exception.  With the new mortgage rules coming into play in a few short weeks, many buyers are motivated to have firm deals completed before January 1st, 2017. We’ve included the latest news release from the Ottawa Real Estate Board below.  Please note: average sale price information can be useful ...

What Canadian home buyers need to know NOW about the upcoming changes to Mortgage rules

What home buyers need to know before 2018 As of January 1, 2018, Canadian homebuyers will have to meet stiffer requirements in order to qualify for a mortgage with a federally regulated mortgage lender. Why are the Mortgage Rules changing? As Canada’s financial “watchdog” OSFI believes these new rules will decrease the risks for Canadian households with significant debt if and when the interest rates rise. Are you a Confused by the upcoming changes to the mortgage rules? Don’t panic. ...

Why it doesn’t always PAY to sell your home yourself

With today’s hot real estate market, it may be tempting to consider listing your home yourself, without the assistance of a real estate professional; it is often seen as a way to increase profits since no commission will need to be paid out but in reality, this is not often the case. If you choose to sell your home “For Sale By Owner”(FSBO), there are many factors to consider including additional costs and stress, so it is always advisable to ...

Residential Landlord Rules: An Update

Over the past year, there have been many significant changes to the rules for Residential Landlords. These changes may seem overwhelming, but we are here to help; if you have any further questions, do not hesitate to contact a Realtor. Outlined below are the major rule changes as well as an understanding of how they may affect you as either a landlord or a tenant. September 2016 – Terminations for Domestic Abuse New rules have been put in place involving ...

Ottawa Real Estate Update: October Market Snapshot

posted November 2nd, 2017 by the Ottawa Real Estate Board “Leaves may be falling, but the real estate market is not” OTTAWA, Nov. 2, 2017 – Members of the Ottawa Real Estate Board sold 1,243 residential properties in October through the Board’s Multiple Listing Service® System,compared with 1,214 in October 2016, an increase of 2.3 per cent. The five-year average for October sales is 1,165. “As we enter the 3rd quarter of the year, we continue to see the resale ...

New Mortgage Rules for January 2018

Are you a Canadian homeowner? A first time home buyer? Do you see yourself purchasing a home for your family in foreseeable future? If you’ve answered “yes” to any of these questions, or have considered tapping into the real estate market in the New Year, keep reading! The time has come, once again, for the Canadian mortgage rules to change. Effective January 1st , 2018 the Office of the Superintendent of Financial Institutions (OSFI) will be implementing new mortgage regulations that ...

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