Nelson House Donation

With the help of many generous supporters, every year Mary Lindsay, a Royal LePage Team Realty sales representative,  organizes a  “Yesterday’s” sale at our Royal LePage Team Realty branch at 1335 Carling Avenue.  This group collects gently used clothing, jewelry and silent auction items which are then sold over 2 days. All money raised is then donated to a local women’s shelter. Earlier today Mary Lindsay, Theresa Seguin and Brian Sukkau presented a $2000 donation to Ottawa’s Nelson House.  Nelson house exists to “provide safety for women and children who are being abused and to work with other groups and individuals toward ending violence against all women.”   Click here for Nelson House’s website Thank you to Nelson House for everything you do to help women and children in our community and thank you to Mary and all of the people who came together for another great sale!   We’re already ...

Resale buyers brave the February freeze

  Members of the Ottawa Real Estate Board sold 853 residential properties in February through the Board’s Multiple Listing Service® system, compared with 868 in February 2014, a decrease of 1.7 per cent. The five-year average for February sales is 914.   “Even though we had one of the coldest months on record, resales for the month of February are only slightly down from last year,” says President of the Ottawa Real Estate Board, David Oikle. “Looking at residential properties alone, 13 more properties were sold this February over last February – a 1.9 per cent increase; while the condo market on the other hand, has been a little slower to gain momentum. That being said, both residential and condo sales are up a total of 226 combined units since January and there are a total of 6,519 residential listings going into March – both telling signs that the spring ...

Royal LePage House Price Survey: Ottawa trending towards a Buyer’s Market

OTTAWA RECORDS FLAT HOUSING MARKET IN THE THIRD QUARTER High inventory leads to an uneventful third quarter OTTAWA, October 15, 2014 – The Royal LePage House Price Survey released today saw prices for homes in Ottawa remain relatively flat. Detached bungalows and standard two-storey homes increased 1.2 per cent year-over-year to $403,091 and $406,264, respectively. Standard condominiums saw a slight decline in price, dropping 0.3 per cent to $258,132. “Buyers had a surplus of inventory to choose from this quarter, with much of the inventory left over from slower than usual winter and spring selling seasons,” said John Rogan, broker manager, Royal LePage Performance Realty. “However, there are still interested buyers and we have seen multiple offers on great properties that are priced well.” Rogan sees Ottawa trending towards a buyer’s market at the moment due to the excess inventory. The condominium segment, in particular, has seen an influx of inventory as developers are moving quickly to ...

Steady as she goes for September real estate sales in Ottawa

From the Ottawa Real Estate Board September/October 2014 “Members of the Ottawa Real Estate Board sold 1,133 residential properties in September through the Board’s Multiple Listing Service® system, compared with 1,118 in September 2013, an increase of 1.3 per cent. The five-year average for September sales is 1,103. “Our community is fortunate to enjoy one of the most stable real estate markets in Canada,” says Randy Oickle, President of the Ottawa Real Estate Board   “This is evidenced by the fact that the units sold and the average sale price in August and September has stayed within a few percentage points from the year before. We are also right on par with sales and average sales price year-to-date compared with 2013.” September’s sales included 232 in the condominium property class, and 901 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, ...

Square Footage of Homes… Why Such a Mystery?

When it comes to measuring square footage for a home or condominium it’s not so easy! Buyers always ask their sales representative for information on the square footage of the home they are considering buying and realtors always want to know approximately how many square feet exists in the home or condominium they are selling.   Unfortunately organized real estate no longer promotes the use of square footage in the details of housing  due to the potential liability on the homeowner and real estate agent as a result of the inconsistency of how a home can be measured. Unfortunately there are no universally applied standards for measurement in existence today.   For example, you can hire different appraiser to measure the same home and they will come up with  different measurements because of the multiple ways to measure and the mechanisms used.   If you are selling a home or ...

Campaign Launched By Provincial Realtors to Stop the Spread of Another Costly Home Owner’s Tax

Help us in an effort to “Say no to another home owner tax” – It is our mission to help prevent the spread of a new municipal land transfer tax (MLTT). This tax is in addition to the Land Transfer Tax a consumer already pays to the province when purchasing real estate and this provincial tax is already a large amount. Now your local municipalities want to Tax the home buying consumer again by introducing a new local Municipal Land Transfer Tax. Currently only implemented in Toronto, this tax has a great possibility of spreading to other regions of Ontario. Research reveals that this tax has had a negative impact on Toronto’s economy and has hurt consumers and the housing market. Specifically, research on the effects of the tax reveals that Toronto has lost 15,000 jobs as a direct result of the MLTT. The slogan, “Say no to another home ...

Royal LePage Team Agent’s Love Their Neighbourhoods and Want to Recognize Those that Make it a Great Place to Live!

  Your Royal LePage Team Agents from across Ottawa and surrounding areas want to recognize those individuals that make our communities such a great place to live. Collectively they have created a Contest to allow for you to tell them about your “Great Neighbour”. Tell a  Royal LePage Team Agent  About Your Great Neighbour and Your Neighbour Will be Entered to Win  Great Prizes Monthly of an Ottawa “Staycation” and a Chance to at the Grand Prize of a Caribbean Cruise! You only have to nominate your neighbour once – each entry is eligible to be selected as a winner in the consecutive months after the entry has been received. Visit our main web site page   for contest rules and entry forms.         ...

Spring is an Exciting Time to Buy a Home!

Finally it feels like Spring has arrived and with it comes an increased desire by consumers to start looking at the potential of buying a new home. If the home buying bug has taken a nip at you this spring, consider enlisting the services of a Trained Real Estate Professional who can ultimately save you time, money and from costly mistakes. Now, the Buying Consumer has the same privileges that has always been afforded to Sellers and can hire a Real Estate Professional to protect their interests when purchasing a home and it doesn’t cost the Buyer any money for the Agent’s Services. When considering hiring a real estate agent, it is important to have a clear understanding of the services the  Real Estate Agent will be providing, and secondly to ensure that the services being provided are in writing. Prior to any house hunting adventure ask your Real Estate ...

Royal LePage’s New Mobile App Breaks Industry Barriers With Draw-and-Search Feature

  Royal LePage, in partnership with award-winning mobile agency Plastic Mobile, recently announced the launch of the Royal LePage mobile app for Canadian house hunters. Available for iPhone, the new app is simplifying the property search process down to the swipe of a finger. The app’s innovative Draw-and-Search feature allows users to easily zero in on a specific geographic area of interest on a map, by simply drawing the area of choice with their finger. Upon doing so, property listings within the selected region will pop up on the screen. On-the-go house hunters no longer need to log in or fill in forms to see search results.  And with one tap, users can save their search to get updates on new homes, open houses, and current listings within the geographic area they selected. “At Royal LePage, we are constantly looking at how we can better serve homebuyers in their search for the perfect ...

Thinking of selling? Get educated about market conditions specific to YOUR home.

Our local Ottawa real estate board regularly publishes information about market conditions in and around the city. And while this information is useful, the data is based on statistics compiled from ALL home sales regardless of age, style, neighborhood or price point. As such, it may not necessarily reflect the conditions specific to YOUR home. When marketing your home for sale, it is critical that your sales representative identify market conditions specific to your home. Are you in a seller’s market, a balanced market, or a buyer’s market? Each of these market conditions demands a different marketing strategy to ensure the best results. By identifying the specific market conditions, your sales representative can tailor their marketing strategy to attract more buyers and achieve the highest sale price possible for your home. For an in-depth Market Evaluation of your home, contact one of our trained Royal Lepage Team Realty sales representatives. ...

Ottawa Residential Housing Price Increases between 1956 and 2013

As the Nation’s Capital, Ottawa has always been a great city in which to buy real estate, whether for home ownership or investment purposes.  Over the years, when the rest of the country was experiencing dramatic downturns in their real estate markets, Ottawa seemed to be insulated and the housing market remained steady. This historical trend continues today, and presently Ottawa enjoys a diverse employment base that helps it to weather the economic storms.  In contrast, the housing markets in other communities across Canada continue to be directly affected by local economic conditions and downturns in local industries. The chart below has been compiled from past Ottawa Real Estate Board MLS Sales Data and is a great indicator of the stability of the Ottawa Real Estate Market. For more information about housing price increases, contact one of our highly trained professional Royal LePage Team Realty Sales Representatives. ...

Now Sellers Can Choose Their Commission Rate

Today more than ever, consumers have choices when it comes to what commission rate they will pay when listing their home for sale.  From flat fees to full service fees, and many options in between, it seems that consumers are spoiled for choice.  But if you’re considering listing your home for sale, you simply must make sure that you clearly understand exactly what each level of service provides. What are you getting for the fee you’re paying? What level of service can you expect to receive? How much of the process will you be expected to perform? Will your agent take care of all the details for you? Tips to consider when interviewing agents It’s imperative that you get in writing the services the agent will be providing for the fee they are charging. This will help eliminate disappointment and clarify expectations. Ask them if their first priority is to ...

Condominium Living

An Ideal Lifestyle for Some People Wanting Freedom and Forced Savings for Repairs and Replacement So you want to purchase a home but don’t want to spend your weekends mowing the lawn or shoveling snow.  Then condominium living may be just what you’re looking for! With a condominium, you own your individual unit in a multi-unit property, plus you share ownership of the land and other common elements with the other condominium unit owners.  Common elements typically include the hallways, elevators, parking lot, landscaped areas, swimming pool, games room, and the like. Condominium Fee Just remember that unlike freehold properties, condominium ownership involves a monthly condo fee.  Typically this fee covers the costs of building maintenance and insurance, replacement of the roof and windows, and the upkeep of the common areas mentioned above.  In some cases it may also cover the costs of heat and hydro for your unit.  Condo ...

Mortgages today offer a new form of hidden savings!

  In years past, when Canadians faced an array of higher interest rates, the majority of the home owner’s monthly mortgage payment at the beginning of the mortgage went to paying down the interest, leaving the principal relatively untouched. The following chart shows just how much the interest rate can impact monthly mortgage payments, the interest costs incurred over the term of a mortgage, as well as the outstanding balance at the end of the 5-year term. Example: Based on a $200,000 5-year open variable rate mortgage, amortized over 25 years   Interest Rate Monthly Payment Interest Costs for the Term Outstanding Balance after 5 years Today’s Best Rate 3.39% $ 987 $31,421 $172,203 2001 6% $1289 $57,180 $179,654 1991 12% $2106 $117,693 $191,306 Using the 3.39% example noted above, an average $463.00 of the above $987.00 monthly mortgage payment goes towards paying down the principal on the mortgage. It’s ...

Why January is a GREAT time to list your home for sale

  So it’s January, it’s cold outside and there’s snow everywhere. You’re anxious to sell your house, but you think January can’t possibly be the best time for that. Your family and friends all agree that April is a much better month to put your house on the market. So you wait. and wait . and wait. Well STOP WAITING!! Here are 3 great reasons to list your house for sale in January. 1. There are fewer houses on the market – you’ll have less competition and a greater chance of getting an offer. 2. Anyone house hunting in January is serious about buying – the tire kickers are at home where it’s warm. 3. January is the biggest month for corporate employee transfers. Buyers being transferred to your area don’t have the luxury of time – they’re ready to make an offer on your house right now! Tips for ...

A Motivational Moment

Teen raises $115,000 with Lake Ontario swim to send kids with cancer to camp. ...

Buying Real Estate for Your Child

For parents faced with the prospect of their children attending a post secondary school in another community, city or province, and finding suitable living accommodations for their loved one can be somewhat daunting and trying to find that perfect home away from home can sometimes be an impossibility. An alternative, when taking into consideration the cost of living in residence or renting a room that offers no return on your investment, is buying a home or condominium that your child can share with other room mates. The cost to carry the mortgage, taxes, maintenance, heat and hydro can mostly be covered in the revenues received from other student renters. Depending on the length of stay, any where from 3 years and up, your child may be able to realize a realistic increase in equity and a return on their investment. And if the property is registered in your child’s name, ...

Making a Claim in Small Claims Court

The information provided below is not legal advice, and it may not apply in every situation. Before making a claim, there are a number of factors you may want to consider, and a number of pieces of information you will need to collect. 1. You Will Need the Legal Name of the Person or Business. You will need to know the legal name of the person or business and a current residential or business address. It is necessary to have the correct information about who you are suing to properly prepare and serve your claim, and to enforce a judgment if you are successful. 2. Small Claims Court Claim Limits. You can only sue for money or the return of personal property valued at $25,000.00 (Canadian) or less, not including interest and costs. If the amount of your claim is more than the current limit, you may still choose to ...

Septic Systems and What You Need to Know Before You Buy

It is imperative when considering buying a home that is serviced by a septic system that the system be inspected by a professional septic engineer. Initially this inspection may seem costly, however it can save you thousands of dollars in future repairs or replacement costs. The cost to replace or upgrade a system is far greater than installing a new one on a virgin site. The cost for replacement can be as high as $20,000. to $30,000., sometimes more, depending on how much damage the old system has done to the soils in and around the system and surrounding property. The fee for a professional inspection can range from $350.00 to $500.00 which in comparison is considerably less than the cost to repair or replace a septic system. Septic Systems and the Inspection In rural areas, many homes do not have connections to municipal sewer lines. Homeowners rely upon individual ...

What You Need to Know About Safe Drinking Water Testing

We all rely on safe drinking water in our homes, it is vital to our health and quality of life. If you are buying a home where the water supply comes from a well source there are precautions that need to taken. First and foremost and at the very least, you must have the water tested to ensure a safe bacterial count. You should be aware that the bacterial stability of water cannot always be determined from a single sample. To establish drinking water quality initially, take three samples at least one week apart and each test must show acceptable coliform/E.coli counts. However, water quality can change. It is recommended that you test your well water four times a year: spring, summer, fall and winter to keep up-to-date on the quality of your family’s drinking water. Next to properly maintaining your well, testing is your best strategy for playing it ...

Protect Yourself Against Real Estate Fraud and Identity Theft

What is real estate fraud? There are many different types of real estate fraud, but the two that consumers should be aware of are mortgage fraud and title fraud. Mortgage fraud occurs when an individual intentionally provides inaccurate, fraudulent or incomplete information to a lender in order to secure a mortgage that they might not otherwise be granted. This could include anything from an individual claiming to have a higher income than they actually have to providing falsified proof of identification or a falsified appraisal of the property. Title fraud occurs when a fraudster assumes the identity of an individual homeowner and then uses that false identity to pose as the homeowner. They could then assume the title on the home, sell the property or obtain a mortgage on that property or other properties in the homeowner’s name. How big a problem is mortgage fraud in Canada? Mortgage fraud is ...

Knob and Tube Wiring in Residential Homes – Insurance May be Denied

The Electrical Safety Authority has received an increasing number of questions about the safety of knob and tube wiring. In particular, purchasers or owners of older homes are finding that many insurers will not provide or renew coverage on such properties. In some cases, the insurance companies are requiring a total replacement of this wiring prior to providing insurance coverage. Knob and tube wiring, more recently referred to as open wiring, was a wiring method used in the early 1900s to 1940s in the residential sector. Over the years wiring installation practices have changed in the residential sector and knob and tube wiring is no longer installed; however, parts continue to be available for maintenance purposes. Existing knob and tube conductors concealed in walls, floor spaces, etc; supplying general lighting and receptacle circuits are permitted to remain in place if: They are protected by a 15 ampere fuse or circuit ...

Mold in Your Home Can Be Harmful to Your Health

All types of mould have the potential to cause health problems and many people are allergic to it. The severity of the health effects depends on the type or amount of mould and any pre-existing health problems. People with asthma or allergies are more susceptible to mould-related problems. Mould weakens its host food source and can cause structural damage to buildings. Mould can develop on organic materials if they remain wet for 24 to 48 hours. It is not the quantity of water, but the time the material has been exposed to water or moisture that determines the growth of mould. Controlling indoor moisture is the number one way to avoid mould and its possible health effects. Other ways you can avoid mould or reduce mould damage are as follows: Do not overuse humidifiers and maintain the moisture level in your home between 30 – 50%. Check your house for ...

Household Pests Can be Damaging to Your Home

Household pests have a knack of residing in homes to satisfy their needs of food, water and shelter. If you do not seek the services of a pest control company in time, pests can cause your home a significant amount of damage. Although you may not feel too concerned about a couple of rodents roaming around your house, it is essential to remember that these pests can mate and multiply rapidly. Many people end up losing a large amount of cash due to the lack of timely treatment of these problems. Carpenter Ants Although the creatures may look miniscule and insignificant, pests are fully capable of damaging your home devastatingly. Carpenter ants, in particular, are considered one of the most damaging types of pests for homes. These pests, generally known to decompose trees in forests, are often found in homes looking for food and water. Although they do not cause ...

Smoke Alarms are the Law

Effective March 1st. 2006 it became law for all Ontario homes to have a working Smoke Alarm on every story and outside every sleeping area. With this previously announced Fire Code amendment now in effect, it is hoped there will be a reduction of the number of preventable fire-related injuries and fatalities.  The amendment covers single family, semi-detached and town homes, whether owner-occupied or rented. Penalties for non-compliance with the Ontario Fire Code smoke alarm requirements could result in a ticket for $235 or a fine of up to $50,000 for individuals or $100,000 for corporations. Working smoke alarms save lives. Don’t be foolish enough to think a barking dog will awaken you or that you will smell smoke – don’t bet your life on it!   SMOKE KILLS: Toxic smoke and fumes kill. In a house fire, it is the flames that do the structural damage, but smoke is ...

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