New Year, New Home

How do you know if you’re ready to move? Besides deciding that it’s something you want to do in the new year, and planning for the big transition, how can you be sure it’s the right call? Has your family grown too big for the house? Perhaps it’s not by choice but due to work. Are you interested in downsizing? Here is a checklist you might want to review before you go looking for a new home. Looking For More Space? Homeowners often change properties because they outgrow it, this comes with starting a family, or expanding it. Whether this means having children or adopting pets, more family members means there is a demand for more bedrooms, more bathrooms and more living space. Possibly a bigger yard for your canine to run around in, a double garage because your kids have purchased vehicles of their own, a spacious loft for your home office, and what have you. Debating Downsizing Millennials are pursuing a minimalist lifestyle and Baby Boomers are seeking manageable homes. Both paths ...

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Market Snapshot: Ottawa Real Estate December 2018

That’s a wrap: Ottawa Real Estate Market December 2018! As 2018 wrapped up, the inventory shortage has had a ripple effect; while residential sales were down slightly, it also fueled the condominium market. Overall, 2018 was another stellar year in Ottawa real estate!  If you’re thinking of making a move in 2019, we know real estate. We’d love to chat! Another Stellar Year for Ottawa’s Real Estate Market (excerpts below were taken from the Ottawa Real Estate Board’s news release January 4th) January 4, 2019 663 residential properties were sold by REALTORS® in the Ottawa Real Estate board compared with 765 in December 2017, a decrease of 13.3% Year to date activity increased by 2.4 % from 2017. The total number of residential and condo units sold throughout all of 2018 was 17,476, compared with 17,065 in 2017. Residential property class sales decreased slightly to 13,418 from 13,478 in 2017 and condominium property class sales were up 13.1 % with 4,058 units...

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Winter in Ottawa

Festivals and Events to Keep You Busy This Season Winter may seem like the perfect season to curl up on the couch and binge-watch your favourite Netflix series, but that would also mean missing out on a multitude of engaging and culturally diverse activities in the Ottawa and surrounding area. Read below for a highlight of this years winter events and festival lineup; before you know it, you will be kicking off your slippers and throwing on your snow gear to take part in these engaging winter activities: Christmas Lights Across Canada – December 5th – January 7th The 34th edition of Christmas Lights Across Canada will be up for display from December 5th to January 7th. Enjoy a stroll downtown and enjoy the magical winter lightscapes multimedia show projected onto the buildings on Parliament Hill. This is a free event that takes place each year and is sure to captivate audiences of all ages. Sens Rink of Dreams – December 1st – March (weather permitting) The Sens...

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Holiday Showings?

If your home is currently on the market, or you plan on listing in the next few weeks, here are some things to consider when it comes to showings. The Ottawa real estate market is still quite active this year so you want to ensure that you put your best foot forward for potential buyers. Embrace the season and work closely with your Realtor to get your home sold! Holiday buyers tend to be serious buyers The holidays are a chaotic time of year for everyone so keep in mind that people who are booking showings at this time are likely serious buyers with motivation; most casual searchers will likely take a break at this time of year and pick up their search in the new year. It may seem daunting to get ready for a showing at this busy time of the year, but keep in mind that it may be worth it. Holiday decor in moderation It is a beautiful time of year and you can certainly take advantage of this in the staging of your home. Incorporate your holiday decor all around your home to give it a wa...

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As Markets Across Canada are cooling, the Ottawa Real Estate Market Remains Strong & Steady

The Latest Ottawa Real Estate Trends – November 2018 While most markets across Canada are cooling, Ottawa’s market performance is strong and steady as it has been for many years.  Ottawa’s housing affordability and high employment levels shelter us somewhat from the dramatic swings that can cause instability.  Sales were down 5.4% from November 2019, however experts say that wouldn’t have been the case if inventory was higher. Average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties or areas have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood, if you’re interested in trends and numbers  for specific Ottawa areas we’ve got market reports available, please reach out info@teamrealty.ca    Ottawa: One of Canada’s Real Estate Anomal...

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Keep Jack Frost Out and the Heat In

How to minimize your heating costs this winter As frosty temperatures fill the air, and snow begins to cover the ground, there is a lot to think about when it comes to your heating bill. As the cost of heating your home rises in the colder months, it’s time to think about what you can do within your home to reduce some of these costs. Here are some tips and tricks that can help you to reduce the cost of keeping you and your home warm this winter: Take advantage of the solar heat – During the day, use the solar heat to your advantage by opening blinds and curtains to allow the natural light and heat to warm up your house. At night, be sure to close these curtains to help insulate your home against the cold. Between 10-25% of heating loss in the winter can be attributed to windows, so it is important to insulate windows and cover windows with blankets at night if they don’t have window coverings installed. Install plastic window treatments – In order to reduce the amount of heat l...

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Cannabis Legalization: One Month Later.

It has been just over a month since cannabis was legalized in Canada. Now that the hype and excitement surrounding the ability to buy recreational marijuana legally has settled, many of us are still left with questions surrounding these new laws and what this means for home owners, buyers, and sellers alike. Here is what you need to know about cannabis legalization and real estate in Ottawa:  Home Buyers and Sellers While it may now be legal carry, smoke, and grow marijuana plants, there are many things to consider when you are in the market of buying or selling your home. Recently,  a survey on “How Canadian Homeowners and Renters Really Feel About Legalized Cannabis”, and that despite the legal freedom to grow up to 4 plants in your residence, 52% of home-buyers would be hesitant to purchase a home that was used to grow legal marijuana. Many people are worried about issues with smell, mould, and electrical systems, and while these concerns are valid for large scale grow-ops, which co...

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Holidays on a Budget: A Financially Friendly Guide to “Decking the Halls”

The holidays are just around the corner, and we will soon be covered in a blanket of snow, with marching bands leading parades, and Santa’s village bringing long lines to the malls. While the excitement builds up, we are often left wondering how we can possibly save money or limit our spending without compromising the spirit of the season. With just a few practical tips and tricks, embracing the magic and togetherness of the holidays without breaking the bank is not only a practical goal, but attainable as well. Here are a few budget friendly ways to “deck the halls” without overspending: Decor Seasonal and Holiday decor is a good way to keep your house looking fresh and well-kept, and we don’t have to break the bank to do it. Pinterest is full of DIY crafts that can spruce up the home atmosphere for the holidays. With mason jars or wine bottles, and a little paint or ribbon from the dollar store, you are sure to be able to put together a few items for a centerpiece or mantel dec...

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Getting Ready to Sell Your Home in Winter: What You Need to Know

Selling your home in the winter real estate market may seem undesirable to some, but it has an upside.  Let’s break down some of the advantages that actually make the cold dreary season a potential win for sellers. Ottawa is in a Seller’s Market. Regardless of the weather, listings that are on the market are getting the attention of buyers, there is just not enough inventory to keep up with the demand.  Current active inventory is less than half of 2015-16 [October 2018]. Compared to last year, condo inventory is down 34.5% while residential inventory is 17.5% lower than October 2017.   One of the most affordable cities in Canada, Ottawa is still attracting buyers even as the cold rolls in. Residential average prices up approximately 6% year over year, yet under $450,000.  If now is a good time for you to sell, it’s a great time to take advantage of Ottawa’s fast-paced real estate market. Buyers are more serious. Most people don’t find joy in dawning winter-wear and bracing cold icy ...

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Ottawa Real Estate Market Snapshot October 2018

Highlights from the Ottawa Real Estate Board’s Latest News Release read full story Halloween has not Scared Away Home Buyers “October’s sales are truly indicative of the fast-paced market we have experienced for much of 2018,” points out Ottawa Real Estate Board President, Ralph Shaw. “In some pockets of the city, listings are not lingering on the market. Year-to-date average Days on Market (DOMs) are down 14% from 45 to 39 days for residential homes and 24% from 68 to 51 days for condominiums.” “However, lack of supply continues to be a major driving factor in Ottawa’s real estate market,” he adds. “If we look back to 2015 and 2016, our current active inventory is less than half of what we had then, and it’s not improving. Compared to last year, condo inventory is down 34.5% while residential inventory is 17.5% lower than October 2017.” “Ottawa’s reputation as one of the most affordable cities in the country endures with residential average prices up approximately 6% year over y...

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Home Renovations with a great return on investment

Home Renovations with a Great Return on Investment

Home Renovations with a Great Return on Investment Even if you love your space, at one point or another, most homeowners have thought about making changes…“I love our kitchen, but what if we added an island?” or “our ensuite bathroom is great, but I’d love double sinks” or even “our basement is so spacious, I wonder what it would look like finished”. If this sounds familiar read on! “When we decided to sell our first home for an opportunity to ‘move up’, we knew we needed to update the kitchen and bathroom to attract buyers and get the price we wanted. Once the renovations were competed, it looked so great (and our house sold quickly and for the price we wanted!). My only regret is that we didn’t do it sooner so we could have enjoyed it ourselves!” – Stephanie (Seller) Home renovations can truly revamp a living space and make your home more enjoyable to live in and if you’re thinking of resale, can actually add value to your home and give you a great return on investment! Let’s start ...

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Fall Furnace Tune-Up

Fall Furnace Tune-Up As much as we may hate to admit it, fall is here. As the days get shorter and the air gets colder, the time of year when we switch from cooling our homes to heating them is upon us. However, before you switch your furnace on and start getting your winter blankets out of storage, it is wise to perform a routine inspection and maintenance of your furnace. You don’t want something going wrong in the middle of winter when you need heat more than ever. You can spend money to have a professional come and perform the inspection and tune-up, but you can also easily perform the task yourself. Step 1: Inspection Before anything else, give your furnace an inspection. Check to make sure that all the vents and tubes are properly fastened and sealed, and look for any soot or residue near the burner. If you see these you should call in a professional to get the problem fixed, but if there aren’t any, you can continue your inspection. You should also take the time to smell the air...

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Readying Your Family for an Emergency

Readying Your Family for an Emergency September 21st, 2018 is a day our community won’t soon forget. The stories we’ve heard from those affected by the tornadoes that touched down in the City of Ottawa-Gatineau were nothing short from terrifying; the photos we’ve seen from the storm’s aftermath have been undeniably bone-chilling. It has been a devastating reality that the residents of our nation’s capital weren’t quite ready to face as thousands upon thousands of families were left without power – and, worse – homes. Yet, in the same breath, we have witnessed some incredible acts of heroism and unity after such turmoil. Together, the residents, volunteers, service workers, medical providers, rescuers (the list goes on) of the Ottawa-Gatineau and surrounding areas, have come together to shed some light onto those who have recently experienced such darkness as a result of the storm. Thank you for exemplifying what our community is all about. As we continue to provide a helpful hand to th...

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“Autumn Leaves are Falling; Home Prices are Not” | Ottawa Real Estate: Market Snapshot September 2018

Notable numbers in Ottawa: Market Snapshot September 2018 Have questions? Looking for specific neighbourhood stats? Message us, we’d love to help! Info@teamrealty.ca  October 3, 2018 via the Ottawa Real Estate Board “We continue to experience supply-side issues going into our fall market. The fact is, the number of residential sales would be much higher had we more robust inventory to draw from,” states Ottawa Real Estate Board President Ralph Shaw. “Condos continue to represent a greater proportion of year-to-date unit sales with a 15 per cent increase from this time in 2017.” September 2018 Notable Numbers in Ottawa Real Estate The average sale price of a residential-class property was $449,613, an increase of 7.9% over September 2017. The average sale price for a condominium-class property was $282,781, an increase of 7.6% over September 2017. “Economic fundamentals are at play in our market with a lack of supply putting an upward pressure on prices in some areas,” Shaw asserts. “...

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What You Need to Know Before Listing your Home in the Fall

Listing your home in the Fall; tips for selling your home in the Autumn months With this summer’s (extreme) heat behind us, and with nothing but clear skies and crisp fall months ahead!  We often hear sellers say “We’ll wait until Spring to list”, but as HGTV’s expert Scott  MacGillivray outlines in this recent blog, there are some great benefits of selling your house in the fall.  Summer holidays are over, the kids are back in school and you may find yourself with more time to plan your next move.   So, why not swap those hot summer months for a spot in this autumn’s red-hot real estate market? Here are a few helpful hints you can use to attract the fall homebuyer: Create that irresistible fall curb appeal: autumn is beautiful – arguably one of the most colourful times of the year. From chrysanthemums to marigolds, and pumpkins to squash, there is no limit when it comes to accenting your yard and your home for the fall homebuyer. Place flowers in pots along yo...

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Kemptville Real Estate

Neighbourhood Snapshot: Kemptville “Green and Growing”

Life in Kemptville “Green and Growing” Kemptville, in the municipality of North Grenville, is one of the Ottawa areas blooming communities, fitting of the “Green and Growing” slogan! Offering a welcoming community, great schools, hospital, golf course, retirement residences, business opportunities, and an easy commute to Ottawa, its steadily growing popularity is no surprise! An easy 30-minute commute to Ottawa via the 4-lane 416 highway, the Kemptville area could be considered a “bedroom community”, but it’s so much more than that! With the steady growth of population, as well as a recent boom in economic and real estate development, it should be a serious contender for homebuyers looking in the Ottawa area. There’s something for every buyer in Kemptville; whether you’re a first time home buyer, thinking of moving up, or downsizing, here are just a few reasons why we love the idea of investing in Kemptville real estate. Kemptville Real Estate is vibrant and building! From stately olde...

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Protecting Your Home from Critters

As the cooler weather starts to roll in, we are all thinking of cozying up indoors and unfortunately our furry friends outside are also thinking the same. Wild animals are currently looking for warm spaces to call home for the winter months and unfortunately our homes can be an attractive target. When animals get into a home, the damage can be severe and costly to fix but fortunately, with some careful planning you can ensure that you are not welcoming some unwanted guests over the winter months. Ottawa is home to many different critters but let’s take a look at the most common and how we can prevent them from entering our homes. While you are doing your fall maintenance, take some time to inspect your property to ensure that you are not providing easy access. Mice Mice are the most common animal to have in your home. Their small size and ability to squeeze through the tiniest of spaces make them hard to prevent. You will want to search the exterior of your home for any possible entry ...

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Frolic into Fall: Fall Maintenance Tips for Homeowners

Getting ready for fall and winter can sound like a chore.  However with a few simple tips and tricks, getting it  done can be quick and will pay off, big time for homeowners. The most important aspect of getting ready is that all of the appropriate maintenance has been performed to keep your home in top shape before the snow flies. There are a few major things to remember when it comes to cold weather.  A large part of getting ready for fall is to prepare your outdoor landscapes for the harsh reality that is Canadian winter, including (but not limited to) storing patio furniture, wrapping cedar trees and putting away decorative items that could be damaged. Freezing water can cause damage to concrete, metal pipes, gutters and landscapes and the thaw/freeze cycle can worsen the damage so while cleaning gutters and downspouts probably isn’t a job you’re looking forward to, this is one of the most important tasks on your fall home maintenance checklist. Here are a few other tip...

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August 2018 Notable Numbers in Ottawa Real Estate

Ottawa Real Estate: Market Snapshot August 2018 We continue to see a healthy real estate market in Ottawa, with inventory levels are improving but still lower than we’ve seen in previous years.  Have questions? Looking for specific neighbourhood stats? Message us, we’d love to help! Info@teamrealty.ca  Summer Ends, Active Real Estate Market Continues… September 6, 2018 Ottawa Real Estate Board member sold 1,586 residential properties in August 2018, compared with 1,535 in August 2017, an increase of 3.3 per cent. The five-year average for August sales is 1,417. August’s sales included 1,188 in the residential property class, relatively unchanged from a year ago, and 398 in the condominium property class, an increase of 10.9 percent from August 2017. “Our real estate market has had a busier than usual summer season, and we are shaping up for a busy fall period as well,” affirms Ottawa Real Estate Board President Ralph Shaw. “An active market is likely to be the new nor...

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We appear to have a problem:The need to disclose known defects when selling your home

Every home has its’ own unique quirks and character, however, when it comes to purchasing said home, it is important that buyers are aware of any “quirks” that may actually be deficiencies. A deficiency in a home known to the seller is required to be disclosed to the buyer by law, ensuring that any future damage/repair costs cannot be something that the seller becomes liable for. When it comes to disclosing deficiencies in a home, there are two types of defects to consider – patent defects, and latent defects. A patent defect is an easily observed (obvious) defect. An example of a patent defect is a broken window, or door – this defect is visible immediately to potential buyers and patent defects are governed by the legal doctrine of caveat emptor or “buyer beware”. This means, that the buyer will have to accept these defects upon closing, unless they include a clause that states that the defect will be repaired prior to. A seller has no requirement to bring these patent defects to the...

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Reverse Mortgages: What to consider when considering a reverse mortgage

Reverse Mortgages What to consider when considering a reverse mortgage… Reverse mortgages allow homeowners to use the equity in their home as a loan, it’s a  financial strategy that is getting more common. This may be in part because a large segment of Canadian Baby Boomers (born between 1946-1964) “is on strong financial footing and on a clear path to being mortgage-free, if not already.”  But what exactly is a reverse mortgage, and how does it work?  Let’s examine the concept of a reverse mortgage, and some of the benefits and downfalls. What is a reverse mortgage? A reverse mortgage is a loan that allows you to receive money from your home equity without having to sell your home. Typically, you are able to borrow up to 55% of the current value of your home, tax-free. There are however, qualifications that must be met in order to have a reverse mortgage. All individuals who own the home must be a minimum of 55 years of age to be eligible for a reverse mortgage...

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