Income Properties: What You need to Know about Buying an Investment Property

“Don’t wait to buy land, buy land and wait” – Will Rogers     Income Properties: Are you Ready?  Owning a rental property may seem like a licence to print money.  Interest rates are low, the Ottawa Real Estate Market is stable …what could be easier?  Buy a property, lease it, collect cheques and plan your retirement.  Butbefore purchasing an income property, you should be aware of the benefits and drawbacks.   Advantages of Income Properties: You pay less tax. Because your secondary property is a business, you can deduct certain expenses from your income (mortgage interest, property taxes, insurance, maintenance/upgrades, property management and utility bills) and reduce your taxes.  Meet with an accountant or financial adviser to discuss your situation.   Rental cheques provide a steady monthly income Other kinds of investments may pay out less often or income may be less predictable.  For a rental property, answer this ...

Best September on record for number of Ottawa Real Estate resales!

What a great month for Ottawa Real Estate! See below a snap shot of what’s happening in the Ottawa Real Estate Market from the Ottawa Real Estate Board  published October 5th, 2015 Interested in a specific neighbourhood?  We have access to all of the latest real estate statistics at our fingertips! Please contact us and we will send you a no-cost report on the areas you want to know about.    From OREB news: Members of the Ottawa Real Estate Board sold 1,244 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,131 in September 2014, an increase of 10 per cent. The five-year average for September sales is 1,137. “Ottawa Real Estate Board members continued their active summer into a busy fall,” says David Oikle, President of the Ottawa Real Estate Board. “In fact this September marks the best September on record for the number of units sold ...

Home Buyers: Working with a REALTOR®

Real estate has undoubtedly become one of the biggest industries in the world.  Buying and selling of real estate property are obviously major financial undertakings for anyone and these transactions need to be executed in a professional way. With this in mind, working with a REALTOR® is crucial in selling or buying deal of real estate property. In Ottawa, REALTORS® have their own professional association known as the Ottawa Real Estate Board. From this association, our fully trained REALTORS® have insider access to MLS statistics about real estate activity, sales of property, the median price and market conditions. Since the interpretation of these statistics is best known to them, then REALTORS® are crucial professionals in any buying or selling deal. This is because they assist a client in proper interpretation of these coded statistics and their proper implementation. For Home Buyers, Real estate agents provide credible information about potential real estate property matches.   A great ...

How Google Sunroof is Changing Homeowners’ Costs

How Google Sunroof Works Employing the high-resolution aerial mapping used by Google Earth, Project Sunroof calculates the amount of sunlight reaching your roof to assess its potential for solar power.  It takes a variety of factors into account including local weather conditions, shade from nearby trees and buildings and sun positions throughout the year.  The tool combines this information with data from your household’s monthly electricity bill, factors in panel orientation and tilt to the roof surface to calculate average monthly and annual solar radiation, recommends the size of solar installation needed and estimates the cost to purchase or lease the hardware as well as the amount that could be saved with solar panels. The tool is only available in the San Francisco Bay Area, Fresno and Boston, however, should Google decide to expand that coverage, they have ample capital reserves to act quickly.  They might offer serious competition to ...

The Inside Scoop on the Best Season to Sell Your Home

Think you need to wait until Spring to sell your home? You may want to think again if you’re ready to sell now.   In this HGTV.com post, Gavin Chen challenges conventional wisdom that the best time to sell is spring and the best time to buy is fall.  Statistically, spring has the most competing sellers in the market, so you might have to stage your home to get an advantage. Chen suggests it is important to highlight the sellable features of your home in any season.  Although there are fewer buyers in the December – January period (holidays, travel), the warmth of a showpiece fireplace will make a favourable impression during winter viewings, in summer, creating inviting outdoor spaces is a great way to help your house stand out.  The article suggests avoiding early summer listings because people are relishing the seasonal change, but in recent years the  Ottawa ...

Your Annual Home Maintenance Schedule

Following an annual maintenance schedule is an essential step in protecting the value of what will probably be the largest investment of your life – your home.  First time home owners, or those lacking experience may struggle with this task and overlook important elements.  Here are some guidelines to help you create a maintenance program that suits your needs. Benefits of Home Maintenance Regular preventive maintenance identifies minor repairs before they become expensive, major repairs.  It also preserves your home’s market value.  One study found that “greater than $5 return for every $1 spent on preventive maintenance is not unusual”.  Other rewards include: extended life for your home’s components, equipment and operating systems; improved energy efficiency and a reduced environmental footprint; lush, healthy vegetation and attractive landscaping; assurance that your living space is safe and comfortable; improved presentation and continuing exterior appeal; and avoiding home inspection shockers when you sell. ...

Strong summer performance for Ottawa’s resale market

Check out the latest Ottawa Real Estate Statistics from the Ottawa Real Estate Board The summer real estate market has been strong in the Ottawa area, as we head into fall we’ll keep you updated on the latest Ottawa Real Estate market news!  Are you interested in a specific neighbourhood?  Please contact us! We have the latest Ottawa neighbourhood statistics available. _____________________________________________________ Members of the Ottawa Real Estate Board sold 1,279 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,200 in August 2014, an increase of 6.6 per cent. The five-year average for August sales is 1,234. “Ottawa Real Estate Board members had a busy August, with units sold coming in higher than the five-year average and a healthy increase from last year’s sales,” says David Oikle, President of the Ottawa Real Estate Board. “In addition to an increase in units sold, inventory levels of ...

CMHC announces new rules to make it easier for homeowners to rent out property

In this Financial Post article, Garry Marr discusses the impact of upcoming changes from Canada Mortgage and Housing Corp (CMHC) that will permit homeowners to count 100% of the income from their secondary units when qualifying for a loan.  Currently, homeowners with legal units can only count 50% of the income from legal rentals.  By making it easier to borrow money, Marr suggests CMHC will be bringing more people into the market, and that is expected to boost affordable housing, especially in hot markets like Vancouver where secondary units make up almost 20% of the city’s rental stock.  To read more click here. http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com//personal-finance/mortgages-real-estate/cmhc-announces-new-rules-to-make-it-easier-for-homeowners-to-rent-out-property  Buying a property with a rental unit is a great way to own a home while someone else helps pay your mortgage! Please contact us for info & available income properties. ...

Should you let children choose their bedroom paint colours?

Should you let children choose their bedroom paint colours? In this Canadian Living post, Brett Walther suggests a way to let your child participate when deciding what colour(s) to paint their room while also avoiding a choice that is unacceptable to you, or one that they will want to change next week.  The key is to guide their choice by presenting a few options that appeal to them while also meeting your own criteria.  To read more click here.   ...

Machu Picchu Challenge for Shelter

Machu Picchu Challenge for Shelter August 2015  in Machu Picchu, Peru In support of the Royal LePage Shelter Foundation people from Royal LePage offices across Canada have started the trek to Machu Picchu to help restore hope for women and children escaping violence. “For eight days, 70 enthusiastic supporters are trekking at high altitude, camping in tents, and forgoing running water, electricity and cellphone service to raise funds and awareness for the Royal LePage Shelter Foundation.  Each participant was required to raise $5,000 and will be covering their own travel expenses.”  …read more Royal LePage Team Realty is proud to have our sales representative Hanna Browne representing our company and supporting this amazing cause!   Good luck to Hanna and all of the participants we can’t wait to hear about your adventures.     ...

Ottawa Real Estate Market Update: Summer report!

The latest statistics from the Ottawa Real Estate Board have been released.  The information below includes market highlights from July 2015 stats and include all of  Ottawa and the surrounding area. Are you curious about a specific neighbourhood or property?  Please Contact Us – we’d love to hear from you! Typical summer resale market in Ottawa (information from the Ottawa Real Estate Board ) Members of the Ottawa Real Estate Board sold 1,436 residential properties in July through the Board’s Multiple Listing Service® system, compared with 1,440 in July 2014, a decrease of 0.3 per cent. The five-year average for July sales is 1,380. “Last July was the second best on record, and this July was only four units short of that record, coming in well above the five-year average,” says David Oikle, President of the Ottawa Real Estate Board. “Overall, the Ottawa resale market has been performing quite well with ...

Royal LePage Team Realty in the Ottawa community: Helping provide seniors at St Patrick’s Home with gardening supplies for Horticultural Therapy

Royal LePage Team Realty in the community:  We were so happy to be able to help fund this great project at St Patrick’s Home in Ottawa with for their new Horticultural Therapy program.      We’re so honoured to be a part of this success story! Congrats to St. Patrick’s Home of Ottawa Foundation – on launching… Posted by Royal LePage Team Realty on Monday, 27 July 2015     Background Story – What is Horticultural Therapy? Horticultural Therapy is a process in which working with plants and active participation in gardening activities are used to improve the body, mind and spirit of people of all ages, backgrounds and abilities.  For our purposes, this program will provide the opportunity for our Residents to experience meaningful interactions between people and plants to improve cognitive, physical, social, emotional and spiritual well-being. Our Project The St. Patrick’s Home Horticultural Therapy Program will allow the Home ...

Royal LePage Receives the Consumer’s Choice Award…18 years & Counting

Royal LePage is once again the proud recipient of the Consumer’s Choice Gold Award as Top Real Estate Brand in Ottawa for 2014.  A big THANK YOU for supporting Royal LePage Team Realty in the Ottawa Real Estate Community, we couldn’t have made this list for the last 18 years without your support. ...

Busy Spring Real Estate Market in Ottawa Continues in June 2015

Curious about what’s going on in the Ottawa Real Estate Market?   Below are some highlights of our June market.  Curious about a certain area?  Please contact us and/or one of our Sales Representatives  for details, we have up to date statistics on all Ottawa neighbourhoods.     Ottawa Real Estate Market Update:  The busy spring real estate market in Ottawa continues in June 2015 – from the Ottawa Real Estate Board  Members of the Ottawa Real Estate Board sold 1,694 residential properties in June through the Board’s Multiple Listing Service® system, compared with 1,657 in June 2014, an increase of 2.2 per cent. The five-year average for June sales is 1,664. “The Ottawa market is performing very well month-over-month and year-to-date compared to last year,” says David Oikle, President of the Ottawa Real Estate Board. “Year-to-date sales for the first half of 2015 are up 4.9 per cent over the ...

Congratulations to Jody Lavoie: Elected Chair of the Real Estate Council of Ontario (RECO)

We would like to send out our congratulations to Jody Lavoie of Royal LePage Team Realty, Barrhaven/Nepean office, who was just elected as the Chair of the Real Estate Council of Ontario (RECO). At Royal LePage Team Realty we value organized real estate and we are very proud of our members who have a long history of representing our industry through various institutions. Our thanks goes out to Glenda Brindle of Royal LePage Team Realty, Stittsville office, for her past 2 terms in 2013 and 2014 as RECO Chair and for her past 9 consecutive years participating at RECO. A job well done! We would also like to congratulate Steve Boxma of Royal LePage Team Realty, Manotick office, who continues his term as RECO Director, Region 3.   CONGRATULATIONS JODY!   ...

Royal LePage Shelter Foundation named national partner in Sheltersafe.ca

            We are pleased to announce another step forward in our efforts to help abused women and their children find help. The Royal LePage Shelter Foundation has been named a national partner in Sheltersafe.ca — a new online resource managed by the Canadian Network of Women’s Shelters and Transition Houses — along with RBC Foundation. Any time of day or night through Sheltersafe.ca, women can find help close to home. Sheltersafe.ca provides a single point of information for women seeking safety by quickly identifying a shelter in a specific geographic area. The map provides 24-hour emergency telephone numbers, while protecting the confidential locations of shelters. With this partnership, we will continue our commitment to helping women and children who have experienced domestic violence. For details on the new website and the Sheltersafe.ca partnership, please read the full release. Source: Royal LePage Canada, posted June 23, 2015 click here for details     ...

Electronic Signatures in Real Estate coming July 1st!

  Real Estate News: Effective July 1st, 2015 real estate consumers in Ontario will be able to use electronic signatures on agreements of purchase and sale! OREA (Ontario Real Estate Association) has promoted the fact that electronic signatures on agreements of purchase and sale will help improve transaction efficiency by reducing the time required to complete a deal.  In doing so, e-signatures will help improve the consumer’s experience while saving REALTORS® time. OREA  (Ontario Real Estate Association) will be participating in an official government announcement towards the end of the month.     ...

Royal LePage Team Realty named one of the TOP 60 Real Estate Brokerages in Canada

WOW! We are so honoured that we made REP Magazine’s (Real Estate Professional) list of the Top 60 Real Estate Brokerages in Canada! “These Brokerages are more than high transaction, high-volume players – they are also leaders in innovation for clients and agents, and in their communities.” -REP MAG page 25             At Royal LePage Team Realty we work to provide the best real estate training and technology for our Sales Representatives.  Our Sales Representatives provide outstanding real estate services to their clients.  We love Ottawa and our communities and we truly believe in giving back. Thank you to our Broker Owner Kent Browne, our management team and our awesome sales representatives for making Royal LePage Team Realty a truly awesome place to work!     Click here to read the issue: Real Estate Professional Magazine 1.02         ...

Ottawa Real Estate Market Update: May 2015

  Stats stats stats! It’s being called a “Buyer’s Market” but overall the Ottawa’s Real Estate resale market was strong and steady in May 2015.   Below are some of the highlights from the Ottawa Real Estate Board.  This type of Real Estate Market overview is interesting but please speak to one of our REALTORS or Contact us for the statistics in your specific neighbourhood!   We’d love to hear from you and we’re here to help.       Posted by the Ottawa Real Estate Board June 3rd, 2015   Members of the Ottawa Real Estate Board sold 1,926 residential properties in May through the Board’s Multiple Listing Service® system, compared with 1,789 in May 2014, an increase of 7.7 per cent. The five-year average for May sales is 1,812. “The Ottawa housing market continued its strong performance in May, making it the best May for unit sales on record ...

Wow! Ottawa ranked #1 amongst large cities and #2 overall in MoneySense’s Canada’s Best Places to Live 2015 rankings!

Canada’s Best Places to Live 2015: Measuring quality of life in 209 cities Wow! Ottawa ranked #1 amongst large cities and #2 overall in MoneySense’s Canada’s Best Places to Live 2015 rankings!  Read Full Article Here We’ve always loved Ottawa but with a resurgence in amazing restaurants, arts and culture, farmers markets and start up companies like Shopify making headlines,  in recent years our national reputation has gone from drab to fab! Finally the rest of Canada is seeing what we do: Ottawa is a truly awesome place to live! “Ottawa benefits from being fairly stable while other cities have slipped back in key areas. Ottawa earns high marks for incomes, transportation, access to health care and low taxes. And while Ottawa’s average home price of $422,000 might not sound cheap to many Canadians, its affordability score is on par with cities half its size.”  –MoneySense          ...

Royal LePage Gale Real Estate and Royal LePage Team Realty team up for record-breaking fundraiser

  Every year on a Tuesday in  May, Royal LePage Team Realty and Royal LePage Gale Real Estate get together for a charity auction. It all started in Almonte in 2001, when Butch Oldford bought a tie at a company breakfast meeting for $250. Butch asked that the money go to charity.  Realizing that cancer has touched many of  our lives we decided to celebrate Denim Tuesday together and we have raised over  $400,000 for local cancer charities. All of the auction items are donated by our Sales Representatives, Management team and Staff.  We also have some great sponsors – Mortgage Brokers Ottawa, TD Canada Trust, PODS, Colour By Design and the Ottawa Wine & Food Festival.  All of the proceeds were donated to the Ottawa  Hospital Women’s Breast Health Centre.   With the help of some very generous people on May 12th, 2015 we were able to raise over $66,500 in just ...

Fun Real Estate Facts: Average Ottawa Home Prices 1956-2014

The Average Price of a home in Ottawa in the year 2000 was $159,511 – last month in March 2015 it was $361,572 (including Residential & Condos!) What was the Average the year you bought your first house? The year you were born? The year you got married? Check the chart below for details. Interested in finding out what your home is worth today?  We’re happy to provide you a free home evaluation, contact us today! ...

Royal LePage in the News! Royal LePage named 2015 Outstanding Corporate Citizen

Canadian Franchise Association bestows honour on Royal LePage—A first for the real estate industry! April 14, 2015 A first for the real estate industry TORONTO, APRIL 14 – Royal LePage Real Estate Services has been named the 2015 Outstanding Corporate Citizen by the Canadian Franchise Association (CFA).  Royal LePage, Canada’s largest and oldest real estate firm, received this award for demonstrating sustained support for the local communities through its network of over 600 brokerage offices from coast to coast, and for philanthropic innovation on a national scale. The company’s 16,000 Realtor® network has raised over $20 million through the Royal LePage Shelter Foundation, the largest public foundation in Canada committed to ending violence in the home, and providing support to the women and children who fall victim to it. In establishing the Royal LePage Shelter Foundation in 1998, Royal LePage – the only national real estate company with its own branded charity ...

Ottawa Real Estate Market Update: Spring is finally here!

Is now the right time for YOU to buy or sell?  For a full report of what’s going on in your Ottawa area neighbourhood talk to your Royal LePage Sales Representative  or if you’re looking for a great Realtor®, e-mail Kent Browne kent@royallepage.ca or 613-725-1171. Helping YOU is what we do. _______________________________________________________________________ Busy spring season arrives amidst March snow banks! – Ottawa Real Estate board Members of the Ottawa Real Estate Board sold 1,208 residential properties in March through the Board’s Multiple Listing Service® system, compared with 1,184 in March 2014, an increase of two per cent. The five-year average for March sales is 1,236. “Sales increased month over month, with 356 more properties sold in March over February, a 41.8 per cent increase,” says David Oikle, President of the Ottawa Real Estate Board. “Indications of a fast approaching spring market were noted in February, and these numbers are proof ...

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