Winterlude 2018

Winterlude 2018

The Winter months in the Capital are arguably some of the most enjoyable for its residents and their families. Christmas has passed, yuletide memories have been made, and we’ve welcomed the New Year with wide opened arms. And with the anticipation of new beginnings in 2018, we take in a deep breath of fresh, brisk air and bundle up to embrace what this year has to offer; including the great outdoors. In fact, with the many winter-filled activities that our City and surrounding areas have to offer this Winterlude season, it’s nearly impossible to sit idle as the cold passes us by. Here are a few activities that you and your family can partake in this winter to celebrate Winterlude’s 40th birthday year:   Lansdowne’s Winter Garden: beginning February 2nd and ongoing to the 19th, Lansdowne Park at Aberdeen Square will be transformed into a “glowing winter garden of sculpted ...
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SPRING into ACTION: Sellers

SPRING into ACTION: Sellers

SELLERS Now’s the time to spring into action if you’re a prospective home seller. Getting your home prepared for the spring market now, will help you move quickly and efficiently  when the time comes to list. Spring is the optimum time to sell a home, as the largest numbers of buyers are actively searching for a new home during the months of April, May, and June. If you’re looking for tips, tricks, and ideas to get your home market ready, then you’ve come to the right place! Purge & Pack: What better way to clear out the winter blues, than to clear out the clutter in your home. Take this as a reason to stay warm inside, as you begin to go through attics, closets, basement, and/or garages to determine what to keep, what to donate, and what could be packed away early. Decluttering and depersonalizing are both important steps ...
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SPRING into ACTION: Buyers

SPRING into ACTION: Buyers

BUYERS Spring hasn’t begun to crack through the winter thaw, but that doesn’t mean there’s time to wait if you’re planning on purchasing a home this spring. Be prepared for the Spring Market, and ensure your home buying experience is a great one by organizing your paper work, mortgages, ideal houses, and pricing ahead of time. Spring into this home-buying season ready to buy, so that house you’ve been dreaming of, doesn’t land in the hands of another buyer. Credit Check A credit score is a numerical representation of your credit report, and having good credit is like gold when obtaining a mortgage. Spend some time understanding where your credit falls, as credit scores range from 300-850, and the higher the score you have, the better. If there are any issues with your credit score, now is the time to work at repairing them (paying bills on time, getting a ...
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Moving to Ottawa? The Real Question is “Why Not?”

Moving to Ottawa? The Real Question is “Why Not?”

There’s no doubt about it, Ottawa has topped the list of real estate markets to watch in 2018. With it’s ever growing communities, and variety of opportunities for all ages, Ottawa ranks among the world’s most desirable cities to call home. With is diverse neighbourhoods, excellent education system, distinct seasons, and constant opportunities for entertainment, Ottawa gives individuals lots of reasons why they should move here. The real question is: Why not move to Ottawa? The National Capital city is very clean and green, offering unparalleled health services, economic securities and affordable housing options. In a study released by Statistics Canada, Ottawa ranked in the top 10 happiest out of 33 metropolitan areas across the country. If you’re looking for a fresh start, or a place to settle down in, Ottawa has a big city presence with a small town feel, and should be at the top of your lists. Neighbourhoods ...
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An Era of Change: 2018

An Era of Change: 2018

An Era of Change: 2018  Canadian real estate is in an era of change.  2017 closed with a bang, as we saw some of the largest increases in real estate prices in nearly a decade. The curiosity now turns to 2018, and what can we expect to see in Ottawa, and across Canada. Ottawa is climbing the list as a hot spot for home buyers this year, joining popular cities like Toronto, Montreal and Vancouver.  Ottawa may hold an even higher interest for buyers, where real estate prices are significantly lower than areas such as Toronto and Vancouver. The pool of potential home buyers shows a steady increase  by individuals able to work remotely  who are not limited by commute time when choosing where to buy a home.  This growth trend is expected to continue throughout 2018. With a variety in communities, opportunities, and availability, the Ottawa area has a lot to offer to potential buyers. ...
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A Strong Finish for Ottawa’s Real Estate Market in 2017

A Strong Finish for Ottawa’s Real Estate Market in 2017

2017 was quite a year in the Ottawa Real Estate market; record breaking numbers in units sold (condominium sales up over 22%) and double digit (percentage) increases in average sale price in several neighbourhoods, Canada 150 (or should we say Ottawa 150?!) was anything but average! Below we’ve included the latest news release from the Ottawa Real Estate Board.   Please note: average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.  We have access to current statistics and trends in our neighbourhoods and communities, it’s our job to stay on top of the market trends!  We have up to date Real Estate Market Reports readily available for you and we love to chat real estate – contact us anytime! From the Ottawa ...
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2017 Recap!

2017 Recap!

2017 was an amazing year for Real Estate in Ottawa! Records were broken and property values continue to increase. As the year comes to a close, let’s take a look back at some of the highlights with our Top 20 Blog Posts of 2017! #20 – Understanding Multiple Offers This year the Ottawa market became more competitive than ever before and multiple offers have become far more common. Here are some helpful hints to help you navigate multiple offers! #19 – Pets and Real Estate New research emerged this year showing that more and more homeowners are making housing decisions with their furry friends in mind while others are avoiding homes where pets have lived. Let’s look at the impact of pets and how they can affect real estate. #18 – Your Home and Winter Travels It’s at this time of year that many of us choose to get away; ...
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Buying without a Realtor

Buying without a Realtor

Buying a house is a big investment, so it is natural to look for ways to save money wherever possible. Some buyers and sellers may assume that they can stretch their budget further if they handle the entire purchase themselves. Doing this may seem like a good way save you money, but can also lead to problems and higher costs in the long run.  As a buyer, hiring a Realtor typically does not cost you a cent; your Real estate agent will be paid from the commission on the sale of the home. Hiring a professional who is on your side to ensure that all your bases are covered only makes sense. Can you believe that there was a time when real estate brokerages represented only the seller?  It’s true! Buyers had to make one of the most important financial decisions of their lives without a representative truly on their ...
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Winter: Time to keep the heat IN, and your costs DOWN

Winter: Time to keep the heat IN, and your costs DOWN

As winter begins to cover the ground with snow, we Canadians are aware, there’s much more coming our way than just a light dusting. Shoveling snow, spreading salt, and digging out your frozen car, are just some of the “joys” winter may bring to you this season. As the costs of heat and electricity continue to rise, Jack Frost will be nipping at your pocketbook, wanting to extend his winter chills to the interior of your home. If you’re hoping to keep the cold outside, and your heating costs down, the best thing for you to do is to get your home “Winter Ready”. Here are some simply ways to winterize your home: Clean out your gutters Ensure the rain and snow have somewhere to drain to by cleaning your gutters. This will minimize the chance of leaks, and remove excess weight/strain from the gutters. Making sure that the water ...
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Christmas in the Capital

Christmas in the Capital

December has arrived! And with it, for many, comes the anticipation of holiday activities, traditions and celebrating with family and friends. We’ve been lucky to have had some truly incredible events in the Ottawa area this year, but it’s not over yet!   As Canada 150 comes to a close, there are a multitude of Christmas events that are taking place all over our City, allowing us to commemorate the end of one year, and the start of something new with our family and our friends. Here’s a taste of what’s happening in Ottawa this holiday season: Alight at Night at Upper Canada Village: travel back in time to the days where wagons were drawn by horses, and buildings were built by hand to view the magic that is the over half a million lights lit up throughout the village’s streets, trees, shops and homes. From December 1st to January 6th ...
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Ottawa Real Estate Latest Market Snapshot

Ottawa Real Estate Latest Market Snapshot

It’s hard to believe November is over but here we are!  If you’ve been following Ottawa real estate you’ll know it’s been a busy 2017 and December will likely be no exception.  With the new mortgage rules coming into play in a few short weeks, many buyers are motivated to have firm deals completed before January 1st, 2017. We’ve included the latest news release from the Ottawa Real Estate Board below.  Please note: average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.  We have access to current statistics and trends in our neighbourhoods and communities, it’s our job to stay on top of the market trends!  We have up to date Real Estate Market Reports readily available for you ...
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What Canadian home buyers need to know NOW about the upcoming changes to Mortgage rules

What Canadian home buyers need to know NOW about the upcoming changes to Mortgage rules

What home buyers need to know before 2018 As of January 1, 2018, Canadian homebuyers will have to meet stiffer requirements in order to qualify for a mortgage with a federally regulated mortgage lender. Why are the Mortgage Rules changing? As Canada’s financial “watchdog” OSFI believes these new rules will decrease the risks for Canadian households with significant debt if and when the interest rates rise. Are you a Confused by the upcoming changes to the mortgage rules? Don’t panic. Our very own Kent Browne, Owner and Broker at Royal LePage Team Realty, sat down with Mortgage Broker York Polk  of Mortgage Alliance to discuss all these changes in order to help you, our clients, understand how they may affect you. Here are the highlights: Changes that came into effect November 30, 2016 and still apply: All buyers having a down payment of less than 20% are required to pass ...
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Why it doesn’t always PAY to sell your home yourself

Why it doesn’t always PAY to sell your home yourself

With today’s hot real estate market, it may be tempting to consider listing your home yourself, without the assistance of a real estate professional; it is often seen as a way to increase profits since no commission will need to be paid out but in reality, this is not often the case. If you choose to sell your home “For Sale By Owner”(FSBO), there are many factors to consider including additional costs and stress, so it is always advisable to list with a Realtor who knows what they are doing; you may actually make more money by doing so! Here are just a few of the reasons why you should hire a Realtor: You may not get top dollar How do you price a home without access to ALL the information – There is a lot that goes into pricing a home including comparing your home to others that have ...
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Residential Landlord Rules: An Update

Residential Landlord Rules: An Update

Over the past year, there have been many significant changes to the rules for Residential Landlords. These changes may seem overwhelming, but we are here to help; if you have any further questions, do not hesitate to contact a Realtor. Outlined below are the major rule changes as well as an understanding of how they may affect you as either a landlord or a tenant. September 2016 – Terminations for Domestic Abuse New rules have been put in place involving the termination of a lease in the case of domestic abuse. The landlord no longer has the ability to challenge or investigate these allegations and the notice terminates the tenancy, regardless of whether it is based on a true incident. The residential landlord is also obligated to respect his/her confidentiality obligations. What this means for tenants: Tenants who have been the victim of domestic abuse will be able to terminate ...
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Ottawa Real Estate Update: October Market Snapshot

Ottawa Real Estate Update: October Market Snapshot

posted November 2nd, 2017 by the Ottawa Real Estate Board “Leaves may be falling, but the real estate market is not” OTTAWA, Nov. 2, 2017 – Members of the Ottawa Real Estate Board sold 1,243 residential properties in October through the Board’s Multiple Listing Service® System,compared with 1,214 in October 2016, an increase of 2.3 per cent. The five-year average for October sales is 1,165. “As we enter the 3rd quarter of the year, we continue to see the resale market outpace last year’s performance, which was also a stellar year,” says Rick Eisert, President of the Ottawa Real Estate Board. October’s sales included 261 in the condominium property class, and 982 in the residential property class. Condominium sales continue to drive the overall residential sales market, with a year to date increase of 21.4 per cent over the same time period last year.” “The fall market is brisk and ...
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New Mortgage Rules for January 2018

Are you a Canadian homeowner? A first time home buyer? Do you see yourself purchasing a home for your family in foreseeable future? If you’ve answered “yes” to any of these questions, or have considered tapping into the real estate market in the New Year, keep reading! The time has come, once again, for the Canadian mortgage rules to change. Effective January 1st , 2018 the Office of the Superintendent of Financial Institutions (OSFI) will be implementing new mortgage regulations that may ultimately reduce purchasing power on conventional purchases and refinancing of all homes. Of course, as word of these new regulations surface, so do pressing questions from anxious home buyers on how these changes will affect them, and what we’ll all need to know as we enter into the New Year. How will the new mortgage rule affect Canadian home buyers? Essentially, the new qualifying mortgage rules will require home ...
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Millennials-Turned-Homeowners

Millennials-Turned-Homeowners

Home ownership is something that comes with great pride. And with it being one of, if not, the biggest, most sought-after purchase (and decision) that you will ever make in your years as an adult, it’s recommended that you thoroughly prepare yourself for the emotional and financial attributes that go along with doing so. This said, there are people of every age group and at each stage in their lives that look into the real estate market and agree to buy or sell their home. Most recently, however, it’s the millennials that are powering the housing market. Millennials – those aged roughly 18-34 – are making big moves in the real estate world as of late, and we believe that there are several reasons as to why. For starters, owning a home grants you with a sense of financial security. Sure, on the flip side, it can also potentially cause ...
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Here’s an Idea of What Goes into Pricing Your Home

Here’s an Idea of What Goes into Pricing Your Home

So you’ve decided to sell your home and embark in this journey called real estate. And whether this is your first, second, or “I’ve lost count” run of it, there will always be something that will set this particular experience apart from the rest. So what goes into it all? Where does one even begin? Arguably, one of the first and most significant attributes toward successfully selling your home is to determine its price – one that’s realistic, sensible and appealing to buyers. Once you’ve decided upon this as a starting point, the rest will naturally follow; however, we advise that in order to have things iron out in a way that is both educational and enjoyable for you, you must first hire someone in the business. Enter: your realtor. It goes without saying that there are a lot of factors that go into the process of selling your home ...
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Just Another Day in the Life…

Just Another Day in the Life…

Many of you may wonder from time to time what your realtor’s typical day might look like. Truth be told, however, as a realtor, there really is no such thing as a typical day. In reality, days vary, schedules change, appointments pop up, emails come in – and in between it all, they eat and (sometimes) sleep. You see, from the moment your realtor’s alarm goes off in the morning, to the time they go to bed at night, they’re working hard to serve you and your home buying/selling needs. For them, it’s a lifestyle – and they’re quite accustomed to finding their balance. Mornings: It’s time to catch up – and be sure not to blink! A realtor’s morning will usually disappear before they can say, “sold!”. Aside from getting up to speed with the surplus of emails that have come in from the day and evening before, most ...
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Ottawa Real Estate Highlights September 2017

Ottawa Real Estate Highlights September 2017

“Steady September contributes to strong third quarter for 2017” It’s hard to believe that the fall real estate market has arrived, but here we are in October!  If you’ve been following Ottawa real estate this year you’ll know that it’s been a record breaker, particularly with the number of sales year over year.  According to the Ottawa Real Estate Board statistics;  in 2017 the listing inventory has been lower, average sale prices are steadily increasing, properties are selling faster and there have been more multiple offer situations.  While we may be trending towards a “Seller’s Market”, unlike Toronto and Vancouver, there are still plenty of opportunities for home buyers to find affordable housing in and around our beautiful city!   The boost in the luxury “lifestyle” market and the condo market have impacted the year-over-year numbers and all signs point to a strong finish to 2017. Read the full news release ...
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Backup Offers: What They Are and How They Work

Backup Offers: What They Are and How They Work

The home buying process can be thrilling and exhausting at the same time.  Investing in real estate is something worth waiting, saving and hunting for – not to mention something worth spending time perfecting – but what happens if you find the home of your dreams only to find out that it’s already been snatched up by another buyer? You may feel discouraged, wondering if you’ll ever find another home like that one again. Sound familiar? Well, before you nod your heads in agreeance, don’t! Not all hope is lost, folks! Introducing something called the backup offer: the long shot that could pan out. Sure, we may ask ourselves if the motion to submit an offer on a home that’s already in someone else’s possession really worth it? And the answer is yes. Let’s break it down, shall we? As a home buyer, you simply make an offer on the ...
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Canada 150: Enjoying the Fall Season

Canada 150: Enjoying the Fall Season

Canada’s 150th milestone is here and in full swing; and what a year it’s been so far! We’ve bundled up as we watched our favourite downhill skaters at Red Bull’s Crashed Ice, cheered on our favourite musical talents at the 2017 Juno Awards, looked up – way up – at those daring enough to eat, drink, and be merry above the cityscape in Ottawa’s very own Sky Lounge, and roared aloud as La Machine walked our city streets. So, what’s next? What could possibly top all of the excitement that our City has seen so far? Get ready, folks – the celebrations haven’t quite come to an end just yet! Come November, Ottawa will be home to a multitude of video gamers and enthusiasts alike as we host the Canadian Videogame Happening over a 5-day timeframe (November 15-19). What can we expect to see over the course of this event? ...
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Purchasing a Home in Canada’s Best City to Live

Purchasing a Home in Canada’s Best City to Live

We are very fortunate to live in a City that offers economically booming neighbourhoods and family-friendly communities. In Ottawa, there’s bound to be something for anyone and everyone. In fact, according to MoneySense, Ottawa has been ranked Canada’s Best Place to Live in 2017. Why? Well, aside from being home to one of the most respected tech hubs in Canada, having an extremely low-by-comparison unemployment rate of only 5%, and host to some of the greatest, most talented chefs in the country, Ottawa is a safe and affordable city that hasn’t been caught up in the real estate frenzy that’s afflicted several other cities across our Nation. So just how affordable are the homes in our City? Of course, answers and opinions to this question will no less vary, but for the sake of argument, let’s narrow down our search to what our residents can purchase for around the $400, ...
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Fall Home Maintenance Tips

Fall Home Maintenance Tips

Fall. Arguably one of the most beautiful times of the year! The weather has cooled and the leaves have begun to change, reminding us that winter isn’t all that far away. Before the snow flies, our homes need a little TLC in order to ensure our warmth and safety over the months – yes, months – of winter. We’ve prepared a few tips on where to begin and what to include in your home maintenance checklist for the fall: Inspect and clean out your eaves trough. In order to ensure a smooth and safe flow of water away from your home’s exterior and foundation walls,  you’ll need to keep up with the maintenance of your gutters. So, before the leaves fly this fall, have your gutters cleaned, then covered with mesh guards to keep debris from returning. Check the quality of your roof. Those of us who have lived in ...
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Market update! Latest news in Ottawa Real Estate August 2017 Stats

Market update! Latest news in Ottawa Real Estate August 2017 Stats

Condo sales help set new record for August unit sales OTTAWA, September 6, 2017 – Members of the Ottawa Real Estate Board sold 1,538 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,481 in August 2016, an increase of 3.8 per cent. The five-year average for August sales is 1,343. “Condo sales continue to strengthen the Ottawa resale market,” says Rick Eisert, President of the Ottawa Real Estate Board. “These numbers also assisted in setting a new record for the number of units sold in August, pushing August 2016 unit sales into second-place. In comparison to last year the number of condo units sold was up 22.1 per cent, whereas residential units have held steady with a less than one per cent decrease over this time last year. We are actually seeing very similar numbers to that of July 2017.” August’s sales included 359 in the condominium ...
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