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OTTAWA REAL ESTATE BLOG


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Buying a Home : Accepting Change Outside Your Wishlist

Truth be told, there are a lot of decisions to be made when it comes to purchasing a home. Regardless of where we stand on the home-buying scale – first time homebuyers, second time homebuyers, or those just simply looking to downsize and/or relocate – there are questions to be asked, and answers to be had. Yes, the onset of this process may seem a little daunting at first, however, that very common (and overwhelming) feeling of “where do I even start” eventually shapes itself into the certainty that you’ve found the home you’ve been waiting for. So, where do you begin? Common concerns that a lot of us bring to the real estate table are home size, the number of bedrooms we’d like our home to have, the layout of the home, etc. All represent great examples of “must-haves” that a vast majority of us have on our wish lists; ...

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Buying a New Home

Buying a house is a big undertaking, and there are lots of things to consider. The cost of the house is a big factor to think about, but is far from the only thing you should look when it comes time to buy! Something that you may choose to consider when buying a house is looking at ones that are newly built. Whether you choose to buy an older home or a brand new one, a Realtor can help you with this process and ensure that your interests are well represented. Benefits of Buying a New House: Reduced maintenance costs in the immediate future: New houses come equipped with new everything making it unlikely for you to have to deal with any major maintenance projects anytime soon! It will be years before you have to replace your roof or furnace, for example. New homes tend to be more efficient: Since new ...

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The Role of a Realtor – Seller

Selling your home is a big decision, and an emotionally charged one. It can also be a long process, and has many complicated steps to follow in order to ensure everything goes smoothly. Although it is possible to handle all this yourself, it adds stress onto an already stressful time, and can lead to mistakes that cost you thousands of dollars. In order to avoid these risks, many people choose to hire a realtor to sell their home. As in most things, having an expert on call to help you can lead to much better results than you could achieve by yourself. Realtors offer many services to house sellers, and we will discuss some of those below. Knowledge One of the greatest tools that a realtor brings to your house-selling is their knowledge. Part of a realtor’s job is to track changing trends in the housing market in your area. A realtor ...

The Role of a Realtor Home Buyers

The Role of a Realtor – Buyers

  Buying a home is one of the largest, and most expensive, decisions you will ever make.  You want to make sure that you have covered all your bases in order to avoid any costly mistakes. One of the best ways to avoid any potential pitfalls on the road to home ownership is to talk to someone who knows that road well, and no one knows it better than a realtor. Hiring a realtor means that you have an expert at the entire house buying process there to help you through each step, and means less stress and trouble for you. It may even help you save some money. Here are some of the things that a professional realtor can offer you. Knowledge When you find an established realtor, they will have knowledge of the area you are looking to buy in, and will provide you with market statistics to give you an ...

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Why You Should Check Out That Open House!

Holding an open house is an option taken by many people who are trying to sell their home. Unfortunately, these open houses are sometimes not well attended. This is a shame, because an open house is a great opportunity, even if you are not currently looking to buy a house. Whether you are actively looking for a new place to live, or buying a home is a far-off dream, here are some good reasons to attend an open house: Get an Idea of Price – An open house is a great way to get an idea of how far your budget will stretch in a given area. Looking at houses online can give you a hint, but visiting a home in person will give you a much better idea of the type of house you will be able to afford, how that kind of house feels, and the types of ...

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Ottawa Real Estate Market Snapshot July 2017

The latest reports from OREB on the Ottawa Real Estate market show that in many areas the market is showing no signs of a significant summer slowdown.   The condo market continues to gain momentum as is the"lifestyle" market which includes homes over the $750,000 price range.   Average prices are up in most neighbourhoods across the city, with central and central-west neighbourhoods seeing a bigger jump in average sale price as compared to Ottawa east.   Savvy buyers are noticing that even though Ottawa is trending towards a seller's market in many neighbourhoods it's still a good time to get into the market, particularly with prices on the rise.  With stories of price increases in Vancouver and Toronto in the recent years they may be very smart to do so.  While statistics are useful in establishing trends they don't necessarily reflect specific properties or neighbourhood trends.  If you have ...

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Summer Showings

Selling your house can be an exhausting process, and selling during the summer brings its own special challenges. One of the most noticeable is that you may be away on vacation when people want to attend a house showing. Fortunately, you can turn this challenge into an opportunity. If you plan to hold house showings while you are away, the first thing you need to do is ensure that your home is cleaned up. You should go through the house to make sure it is clean and tidy, just as you would before any showing. The only difference is that you will need to do this before you head out on vacation. This means that preparing for your vacation will involve more work, but it also means that you can host a number of showings without having to clean the house again. After all, if you aren't at home you can't ...

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Reflections on Canada 150

Canada Day is usually a big event in Ottawa; it is the nation's capital after all, but this year was an even bigger celebration owing to 2017 being the 150th anniversary of Canada's founding. In order to celebrate this momentous event, Ottawa pulled out all the stops to throw a Canada Day celebration that people won't soon forget. The public turned out in record numbers to celebrate Canada Day in Ottawa this year, and the celebrations were also awash in celebrities. Justin Trudeau was in attendance, as were Prince Charles and the Duchess of Cornwall, and Governor General David Johnston (who joined the Prince for a ceremony to mark the end of his term as the Queen's representative). Other celebrities included Rick Hansen, Chris Hadfield, and musicians that included Bono and The Edge of U2 fame, and Canadian legend Gordon Lightfoot, who performed for the massive crowd of revellers. Besides the star-studded ...

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Selling in the Summer

Selling your home in summer? It can be grueling to prepare a house for sale in the summer heat but many experts believe that summer is one of the best times to sell a house. Why?... People are out and about! Summer holidays mean that people have more time to devote to buying a home and, for parents of school age children, moving in the summer offers an easier transition for families changing neighbourhoods/schools. Selling your home in summer may also give you more time to devote to preparing your home - it’s a win-win! The Ottawa real estate market remains strong and steady with June stats showing an average price increase of over 7% year over year.  Inventory is down over 25% from this time last year, and with fewer homes for buyers to choose and an increase in multiple offer situations it's a great time to get your home ...

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“a Stellar year so far”…Ottawa Real Estate Snapshot June 2017

We are still seeing lower than normal inventory, more multiple offer situations and fewer days on the market which is good for sellers but with prices remaining “relatively steady”, it is also good news for Buyers.  Check out the highlights below and send us an email to info@teamrealty.ca for details and info on specific properties, we love to chat about real estate! Below is the latest news release from the Ottawa Real Estate Board Members of the Ottawa Real Estate Board sold 2,162 residential properties in June through the Board’s Multiple Listing Service® System, compared with 1,985 in June 2016, an increase of 8.9 per cent. The five-year average for June sales is 1,818. “We’re having a stellar year so far in 2017. Year-to-date sales numbers for the first half of the year are up in both the residential and condo property classes, combined coming in at a 13.5 per cent increase over the same time ...

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Summer Fun in Ottawa

After a long and rainy spring, summer is finally upon us in the nation’s capital. Now that the sun has actually come out, it’s time to get outside and enjoy the weather. Whether you live in Ottawa or are just visiting, there are a lot of fun and unique activities to enjoy all throughout the city, and there’s no better time than a warm summer day. The changing of the guard You can watch the changing of the guard any morning between late June or early July, and August 25. The ceremony takes place at Parliament Hill and starts at 10 am sharp, but you will want to arrive at 9:45 or before in order to make sure you get a spot with a good view. The ceremony is quite a spectacle, with brilliantly uniformed guards marching in unison to the accompaniment of a regimental band and bagpipes. It’s a fantastic sight ...

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Understanding Multiple Offers

As Ottawa continues to be a hot market with a low inventory, the number of multiple offer situations seems to be on the rise. When a home goes to “multiple offers”, all offers on the home must be made at a set time and the seller is able to choose which one they would like to go with or negotiate. This can be a complicated situation for buyers and sellers so here is what you can expect. Keep in mind though that the most important thing you can do as either a buyer or seller in these situations, is to consult with your Realtor so that you are prepared; they are the experts! Multiple Offers for Sellers If your Realtor feels that your home may attract significant attention before listing, or if once listed it is getting lots of attention, they may speak to you about a multiple offer directive. If you ...

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Buying a Home that is “For Sale By Owner”

A home is likely the biggest purchase of your life so what happens if you find the perfect property but it is “For Sale By Owner” (FSBO)? To avoid surprises, headaches, and extra costs, it is always advisable to work with Buyer’s Agent; just because the seller has opted to go it alone does not mean that you have to! A Buyer’s Agent will represent your best interests through the process and will ensure that you know what you are buying without any surprises. Here are some important things to consider before making an offer on a FSBO home. Who Pays the Commission? When you buy a home that is listed by a Realtor, as the buyer you do not pay your Buyer’s Agent’s commission (this is covered by the seller) but this may not be the case when buying a FSBO property. Often enough, FSBO sellers will agree to pay your ...

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Primary Residence Tax Exemption

The federal government has recently made some changes to the Canadian tax system regarding the capital gains from selling residences. Some people are quite worried about what these changes, which you can find directly from the CRA, may come to mean when they sell their homes, but you shouldn’t panic. These changes will not greatly affect most homeowners, who only own a single home they live in. What will stay the same: The capital gains tax exemption from selling a principal residence will not change. This means that any profit you make on selling your home, as long as it is your primary residence, will be sheltered from tax. People who were concerned that selling their house after the new regulations come in would cost them a lot of money can be reassured, that part of the code has not changed. What will change: The main thing that has changed is that Canadians will need ...

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Ottawa Real Estate Snapshot May 2017

Another record breaking month in the Ottawa Real Estate market with the highest number of properties sold in one month ever recorded! The Ottawa condo market is gaining significant strength, with 44 Condos sold last month, that's 44.6% more than May 2016.  We are still seeing lower than normal inventory, more multiple offer situations and fewer days on the market which is good for sellers but with prices remaining "relatively steady", it is also good news for Buyers.  Check out the highlights below and send us an email to info@teamrealty.ca for details and info on specific properties, we love to chat about real estate! Below is the latest news release from the Ottawa Real Estate Board Condo sales lead the way for stellar performance in May 2017 OTTAWA, June 2, 2017 - Members of the Ottawa Real Estate Board sold 2,300 residential properties in May through the Board’s Multiple Listing Service® System, compared with 1,919 in ...

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