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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
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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
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Beating the Winter Blues

It’s winter time in our Nation’s Capital! The New Year is well underway, and as we’ve carefully selected our resolutions (and have spent the majority of these last few weeks trying to abide by them) we reminisce on the post-joys of Christmas and the excitement of a New Year. However, regardless the amount of joy in our hearts and happiness in our homes, the cold weather tends to overstay its welcome far too often. Admit it, we’ll soon catch ourselves wishing for less snow, warmer weather, and oodles upon oodles of sunshine. Wishful thinking, I’ll say. Truth is, we live
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What Home Owners Can Do With a Tax Refund

  If you are a homeowner, a tax refund presents opportunities to invest for a profit that aren’t available to renters. Whether you plan to sell, stay or are undecided, there are ways to optimize the financial impact of your refund. The first step is to treat your refund check the same as you treat your paycheck. Avoid the temptation to splurge and give that refund money a purpose. Here are three home owner-only options to grow that refund:   But, Are You Withholding Too Much? Most of us enjoy getting a large tax refund every spring. But, a refund
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First Time Homebuyers Government Incentive Programs

    Thinking of buying your first home? If so, it may be time to get on with it, especially considering the possibility that interest rates will rise. Using government incentive programs that encourage first time homebuyers to enter the real estate market, you can realize additional savings. And, mortgage financing has been almost free for some time, but economic signals point to those costs rising.   Mortgage rates may increase   Several factors are threatening to push Canadian mortgage rates higher even as the Bank of Canada tries to hold its overnight lending rate down. Fixed mortgage rates are
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5 Steps to a Safer Bathroom

  If you are planning to remodel your bathroom this Consumer Reports article give sound advice on how to do it with safety in mind.  Install pressure-balancing and anti-scald valves to provide a steady flow of water that remains at a safe temperature.  Add a sturdy, properly secured grab bar that will support 250 pounds.   Since mold and mildew thrive in a moist environment, ensure your vent fan exhausts to the outside and run it after every shower to dehumidify the room.  Remove any items (hamper, scale) that might cause a tripping hazard and ensure mats have non-skid backing. 
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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
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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
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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.  But…before 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,
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