Archives for Ottawa real estate

What Home Buyers Should be Looking for When Viewing a Property

You’ve done your research, found the perfect Realtor, crunched the numbers, created your list of must-haves and now it’s time to start the exciting process of HOUSE HUNTING! When you’re looking at homes for sale it isn’t always easy to look past the cosmetics.  Not to worry, we’ve created this handy graphic to help home buyers to stay focused.
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March Market Snapshot

Buyers Get a Jump on the Spring Market 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 average, but we are still seeing more sales than last year because listings are not staying on the market,” states Ralph Shaw, President of the Ottawa Real
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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 be wondering … “What are some of the important things that can help you stay on-top of, and ahead of
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Landlords and Legalization: What budding weed laws may mean for Landlord

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 legalize the use of cannabis across the country, there are many different views surrounding the changes. With multiple angles to
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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 assume that Jack frost might just bite a time or two more. This said, if you’re in the market to
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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 number would have been much higher if we had more properties available for sale.  Buyer demand is there, but our
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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 the rate they will be paying, regardless of the down payment they are making on the home. The new rules
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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 pressure on prices.  If you are thinking of selling this is a great time to get your home on the market.
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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 buyers, where real estate prices are significantly lower than areas such as Toronto and Vancouver. The pool of potential home
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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 that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of
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