Royal LePage Team Realty Logo
Team Realty

OTTAWA REAL ESTATE BLOG


Ottawa Real Estate Update: November 2015

Mild weather and post-election enthusiasm spurs on home buyers!   Statistics are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties. If you are curious about the value of your home and/or specific neighbourhood statistics we would love to help. Contact us.   Information below provided by the Ottawa Real Estate Board December 3rd, 2015 Members of the Ottawa Real Estate Board sold 990 residential properties in November through the Board's Multiple Listing Service® System, compared with 891 in November 2014, an increase of 11.1 per cent. The five-year average for November sales is 944. "Mild temperatures in November, combined with increased activity post-election, were key factors in the Ottawa resale market performing exceptionally well in November," says David Oikle, President of the Ottawa Real Estate Board. "The positive increase in condo sales may be explained by buyers moving to Ottawa to accept ...

Not Only Millennials Want Walkable Communities

  A walkable community is well-planned, compact and designed for people to walk to work, school, parks restaurants and activities as a form of everyday transportation.  According to a National Association of Realtors survey, more and more buyers want to live in walkable communities.  The study found that fully 12% more Millennials, the generation born between the mid 1980's and early 2000's, would rather walk to their destination than drive.  But, fitness enthusiasts and eco-friendly individuals also desire walkable neighbourhoods.   Aging In Place Older Canadians want neighbourhoods that better fit their changing requirements.  As baby boomers enter their retirement years, they will increase demand for senior housing and neighborhoods where they can more easily reach amenities, take care of daily needs, and access health care.  The physical and/or financial requirements of maintaining their homes may be too much.  Many cannot, or choose not to drive, so a development that is condensed, diverse, and walkable, with ...

Higher electricity costs: how to circumvent them

  Because the cost of electricity is expected to rise as a result of the federal Liberals' green energy policies, prudent investors should pay attention to the energy consumption of their rental properties. This Canadian Real Estate Magazine post advises landlords to find ways to become more energy efficient such as installing programmable thermostats and motion sensor lights. More important is to pass the higher cost of hydro on to their tenants, whenever possible, and to implement an energy consumption ceiling for their all-inclusive leases.   As a result of the federal Liberals’ green energy policies, landlords should pay attention to their tenants' electricity consumption. According to an article from Canadian Real Estate Magazine, there are ways that you can become more efficient such as installing programmable thermostats and motion sensor lights in order save money on bills down the line while still preserving amenities for your property owners! It's important not only pass ...

9 Bad Habits That Are Killing Your Appliances

  What's the worst thing you could do to your appliances? Bob Villa has a slide show for that. He talks about how NOT to treat his various pieces of cooking equipment, and it might make him sound like an old man but I think we can all learn from this lesson in bad-mouthsmanship! I'll start with Washing Machine overload - don't overfill them or let anything heavy sit on top when loading because they're designed primarily as fill-and-fold machines so gravity does most work itself out over time; same goes if there are clothes caught between drum inner ring To read more click here.   Sometimes the most obvious solutions are overlooked. This slide show from Bob Villa is an excellent visual representation on how to make sure your appliances stay happy and healthy for years! For example, if you overload a washing machine it can stress out its bearings while also misaligning itself ...

Your Complete Guide to Pest-Proofing This Fall

To prevent an onslaught of pests from occupying your house as the weather cools, simply  follow the National Pest Management Association guidance presented in this post from Bob Villa. Seal cracks in the exterior envelope, especially where utility pipes enter, with silicone caulking.  Fill larger gaps inside your home with steel wool. Pests avoid the roughness of the steel fibers and rodents cannot gnaw through it. Repair ripped window screens, door sweeps and loose mortar in the basement foundation, screen dryer vents and chimneys and replace weather stripping to seal these ideal entry points. If you suspect an infestation, hire a licensed pest control professional to assess the situation. To read more click here. ...

How to Stage Your Home for Fall Showings

  This Zillow.com post by Nathalie Wise suggests that the time and cost of staging your home can result in higher sale prices and less time on the market.  Remove clutter, store items that could distract viewers and move furniture away from walls to make your spaces appear larger.  Clear counters and deep clean everywhere because it's still the best way to make a house shine.  Allow potential buyers to visualize themselves in the home by taking down family pictures that could impede their imagination.  Open curtains to let in natural light and hang mirrors to bring light and life to a space while making it look larger.  To read more click here. ...

8 Deer-Resistant Elegant Evergreen Shrubs to Plant This Fall

  Shrubs bestow privacy, a sense of enclosure and a splash of colour during winter.  In this houzz.com post, Brian Barth gives hope to discouraged homeowners who are tired of watching the local deer population feast on their shrubs.   Needle-bearing shrubs like the juniper will survive deer grazing, but they can lack artistic appeal.  Barth identifies 8 other options that have at least one redeeming aesthetic trait besides being evergreen.   Heath and heather are an unusual group of low shrubs with colorful flowers and needle-like leaves that change colour as the weather gets cold.  Doghobble spreads as it grows,  making it ideal for erosion control, and forms a 2 - 4 foot high copse of glossy green foliage with white flowers and branches that have a graceful arching quality.   Boxwood can be pruned into any shape so it is perfect for elegant hedges (10 inches to 10 feet tall) that outline or accent gardens ...

How Will Real Estate Markets React To The Liberals’ Election Victory?

  The Liberal Party's successful election campaign included a promise to stimulate the economy by increasing infrastructure spending with deficit budgets. How will these changes effect the country's real estate market? Until details are released, the exact consequences are difficult to determine, but some possibilities have emerged.   Foreign Investment   We don't know what will follow the Liberals' change in fiscal direction (deficit spending versus balanced budgets), but, if the promised infrastructure spending materializes, it could boost annual growth in 2016 and 2017 "by up to 0.1 and 0.3 percentage points respectively,” according to a TD Bank report.   However, the $10-billion annual spending promised by the Liberals won’t significantly impact the overall valuations of the Canadian economy. So, foreign investors are not likely to be frightened.  As evidence of that, the Canadian dollar dropped on election day and throughout the night as results came in, but the loonie rebounded to 77.14 cents U.S., higher than ...

Winter Lawn Care: 4 Steps to Protect Your Turf

In the fall, homeowners may be surprised to discover that lawn care is much more important than it was during spring. Fall seeding ensures optimal root growth and mulching over raking leaves will help maintain a healthier appearance for your outdoor space all season long! Fall can have you fooled into thinking there's not too much work needed on behalf of those lush green grasses we love so dearly - but what goes unappreciated in summer becomes an issue come wintertime when little nutrients or water reach them from rainstorms alone (not even counting other factors). But don't worry; Lisa Kaplan Gordon has some tips just waiting out their turn under our feet: applying fertilizer at this point entails giving phosphorous rich feedings late September through early October.   Lisa Kaplan Gordon, a lawn expert and author of the houselogic blog posts says that fall is when you should seed your grass for ...

6 Misperceptions About Home Staging

  In this insightful Realtor Magazine post, interior decorator and professional stager Patti Stern explodes six myths about home staging.   The Cost of Staging For example, some sellers consider staging too expensive.  In reality, it actually saves you money because 95 percent of staged homes sell in 11 days or less and sell for 17 percent more than homes that are not staged.  Thus, staging costs are lower than the carrying charges (mortgage, utilities) you will pay if the house takes a long time to sell.   The Difference Between Decorating and Staging She also points out that decorating and staging are different since professional decorators consider the home owner's tastes while and a professional stager understands the marketplace and has the experience to prepare a home so it appeals to as many potential buyers as possible, regardless of taste. They also have the objectivity to neutralize and remove items that distract from the home's main ...

Home Improvements – Do It Yourself Or Hire A Professional?

Completing a DIY project can be tremendously fulfilling and financially rewarding. But, bite off more than you can chew, and you might be looking at some major expenses to fix the damage or, even worse, a catastrophic incident. Before grabbing your toolbox, accomplish a quick risk-reward analysis. Then, determine if you have the skills and tools for the project. Finally, decide if you have the available time and are inclined to invest it in the task. These guidelines will help you decide whether to swing a hammer or write a cheque. Reno Risks And Rewards First weight the expected benefits and savings against the costs and potential risks. Rule out certain types of projects right away: those that have the potential to seriously injure you or severely damage your home. These include anything involving main electrical lines or natural gas pipes. You don't want to burn your house down or cause ...

4 reasons to buy a home before the end of the year

Does cooler weather mean that you should cool down your house hunt?  Absolutely not!  Sellers who have homes listed during the colder months are usually motivated to sell and list prices are typically lower in December...but wait...there's more! Traditionally, housing markets cool down at year end, but this Business Insider post suggests taking advantage of four factors that could work in your favour.   First, borrowing rates are exceedingly low and that means you save a bundle. In addition, the seasonal slowdown means fewer buyers submitting competing bids for choice properties which could put you in a strong negotiating position. There are also the tax benefits of home ownership and inexpensive low down payment options to consider. ...

How Will Legalized Pot Affect Canadian Real Estate Markets

  No matter what you think about the ethics or morality of legalizing marijuana, Justin Trudeau's Liberal government has promised to do just that during their first term.  The fact is, we started down that path when medical marijuana was legalized. So, how will this impact real estate markets in Canada?   The Colorado Housing Market Exploded We see clues to the impact of mainstreaming the recreational marijuana business in Colorado, the first state to replace prohibition with regulation. On 01 January 2015, they celebrated their first year with operational adult use marijuana stores and, perhaps coincidentally, there was also a huge increase in real estate prices. Though it’s difficult to separate the pot boom from the growth of other industries, in Denver, the city's economic health has led to a serious increase in home values. The median home price in Denver is up 15.9% from last year. Vacancy rates in all sectors—residential, commercial, industrial—are all ...

Market Update | Ottawa Real Estate Stats October 2015

  Here are the latest statistics from the Ottawa Real Estate board.  Statistics are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties.  If you are curious about the value of your home and/or specific neighbourhood statistics  please contact us anytime, we would  love to help. Information below has been provided by the Ottawa Real Estate Board "October Home Buyers weren't spooked by election results." Members of the Ottawa Real Estate Board sold 1,161 residential properties in October through the Board's Multiple Listing Service® System, compared with 1,119 in October 2014, an increase of 4 per cent. The five-year average for October sales is 1100. "Our October numbers show we outpaced last year and the five year average," says David Oikle, President of the Ottawa Real Estate Board. "Buyer activity was expected to taper off leading up to the Federal Election but it didn't ...

Home Buyers: To Inspect, or Not To Inspect

To Inspect, or Not To Inspect You've just purchased your dream home and your salesperson is recommending an home  inspection before signing the final conditions. Is it worth $400-500? Now is the time to ignore your emotional attachment to the property, and make this a business decision. The answer is, "Absolutely!" The inspection is a critical step that ensures the structure, environment and operating systems of your dream home are safe and sound.  We are sometimes seduced by facade or the presentation of a property , but the things we cannot see can lead to expensive repairs or health concerns. Remember, this is the environment where you and your loved ones will live. So, this is also the time to identify air quality concerns, safety hazards or health and environmental risks. Understanding the inspection process will help you set realistic expectations, while taking steps to protect your family and finances. Your salesperson ...

find a realtor
Kelowna Luxury Properties