Real Estate Blog

Post Flood 2019: What to do as the Water Recedes

In the last few weeks, parts of the Ottawa area have seen record flooding and with the water slowly receding, it’s now time to think about the next steps. Whether you are a homeowner affected directly or just want to lend a helping hand, there is still a lot that will need to be done. Here is what you need to know, but for the most up to date information on everything flood related, it is important to check www.ottawa.ca regularly for updates. Homeowners Affected by Flooding:   Keep Sandbag Walls Up for the Time Being – with heavy rain expected Thursday, May 9th and Friday, May 10th, some predictions are showing that the water levels may rise again to similar levels. Attend a Community Information Session – the City will be hosting four of these next week. How to safely return home, remove waste and debris, and apply for financial assistance will all be covered. If you need help with your property, fill out a work order – This can be done by visiting a commu...

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Ottawa Real Estate highlights & Market Snapshot April 2019

Ottawa Real Estate Highlights April 2019: There’s been an upward pressure on prices due to the continuing lower supply levels (residential supply is down 18%, and condo inventory is down almost 40% from last April 2018 according to the latest OREB stats). However these price points are “still well under the Canadian average, and our residents tend to be in comfortable financial situations due to secure employment and a thriving local economy.” [President of the Ottawa Real Estate Board]  who also notes that  “Certainly, the stunted supply is likely responsible for the multiple offer situations we are experiencing, but the reality is that while approximately one-third of properties are selling above asking, more than 50% are still selling below the listed price.”  While these statistics can be useful in establishing trends over time they should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale...

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Selling Your Home Yourself May End Up Costing You

It may seem tempting, to try and save money on commission, to sell your home yourself but it’s important to consider all the factors. In a lot of cases, sellers who choose to go this route do not come out ahead so let’s look at why.   What are You Really Saving? Let’s use as an example a 5% commission of the sale price of your home that you may pay to a full service real estate company for their services. When you list your home for sale with a Real Estate Professional, what you may not know is that half of that 5% commission i.e. 2.5% is paid to the Agent who is representing the Buyer. A question you need to ask yourself is if you plan to sell your home privately will you be cooperating with agents that are working with buyers and what commission fee are you willing to pay them for bringing a buyer? If the answer is Yes you will co-operate and the fee that you are willing to pay a buyer agent is 2.5%, you’re realistically only saving 2.5% in commission.   Armed with this i...

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Getting Ready for a Move

As the end of April approaches, many people in Ottawa are preparing to move. Whether you bought or sold in the busy spring market, it’s time to start packing! Packing is often everyone’s least favourite task in the moving process but just remember, there is a light at the end of the tunnel; before you know it you will be in your new home! Here are some helpful hints to guide you as you prepare for closing day. Start Now! Even if your move is not for a few months, and it may seem difficult to start, the more you can get done ahead of time, the better! Try to set goals for yourself and pack a few boxes everyday. Start with things that you won’t be needing anytime soon like your winter jacket or other seasonal items. Getting started is often the hardest step when it comes to packing and you will feel much better once you have a few things taken care of! Get Proper Supplies Take a trip to the local building supply store or contact your mover to get proper supplies. Proper moving boxes, pac...

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Buying in a Seller's Market

If you are thinking of selling, the current low inventory and rising prices in Ottawa may make right now seem like the perfect time but it may seem like a different story if you are looking to buy. Whether you are looking to buy your first home or looking to up or down size, it may seem like a very challenging time to purchase a home. Not to worry though, with some creativity and careful planning, there are ways to easily navigate this market with your Realtor®. Here are 5 helpful hints for buyers this spring: Work with a Realtor® As a buyer, a seller’s market can be quite challenging, especially if you want to go it alone. Working with a Realtor® ensures that you have an expert in your corner to navigate everything from multiple offers to ensuring that you have access to all the listings that may be of interest as soon as they hit the market. The best part is that as a buyer, in almost all cases the Buyer’s Representatives fees are covered by the seller so it won’t cost you a cent. Yo...

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Tidying Up: The Joy of Purging

Earlier this year, Netflix launched Tidying Up with Marie Kondo, a wildly popular series based on Marie Kondo’s bestselling book The Life-Changing Magic of Tidying Up. The series outlines, in a step by step guide, the Konmari method of cleaning and organizing and it has had everyone talking (and purging!) Second-hand stores have seen a surge of donations unlike they have ever experienced before and people are saying goodbye to many of their possessions with hopes of finding joy living in a more minimalist lifestyle. Whether you are preparing your home to list or just want to de-clutter, purging can be incredibly satisfying and the core principles of this method seem to work for a lot of people. Let’s take a look at what it’s all about. The Konmari Method The Konmari Method is based around the concept of joy; if an item or belonging no longer brings you joy, it is time to let it go. You will keep only things that truly matter but also thank the items that you are letting go of for their...

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April Newsletter

Spring Cleaning – Get the Kids Involved As the warmer temperatures begin to roll in, there is no thought more prevalent than the beginning of spring cleaning. Spring is a time when all the forgotten places of winter begin to come to light, and there is nothing more refreshing than refreshing your home. A major topic these days is how to involve your kids in spring cleaning, especially in a way that is fun and engaging for them. The hope is to get your kids involved and wanting to help clean, not only to teach them the value of hard work, and the importance of cleaning up after themselves, but to get you an extra pair of hands (or two) to get this project done faster. What then, are some of the best ways to get your kids involved in this years’ spring cleaning? Click here to read more.

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Ottawa Real Estate March 2019

OTTAWA REAL ESTATE HIGHLIGHTS: Higher Prices, Fewer Residential Sales

Tightness of listing supply is significantly reducing days on market,  properties are selling very quickly.   The latest statistics are out from the Ottawa Real Estate board!   here are the highlights… 1,511 residential properties were sold in March through the Board’s Multiple Listing Service® System, compared with 1,654 in March 2018, a decrease of 8.6 per cent. 1,136 in the residential property class, a drop of 12.4 per cent from a year ago, and 375 in the condominium property class, an increase of 5 per cent from March 2018. The five-year average for March unit sales is 1,402. The average sale price of a residential-class property sold in March in the Ottawa area was $480,143, a rise of 7.2 per cent over March 2018. The average sale price for a condominium-class property was $290,181, an increase of 5.2 per cent from this month last year.* The average sale price of a residential-class property sold in March in the Ottawa area was $480,143, a rise of 7.2 per ce...

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Infill Homes

As Ottawa continues to grow, more and more infill homes are popping up in key neighbourhoods around the city. Infill homes can sometimes be a contentious issue within a neighbourhood but they can also improve the housing stock, add value to the community, slow urban sprawl, and replace older and outdated homes with more modern and appealing options. What are Infill Homes? In the natural progression of any city, the city’s core contains the oldest buildings with new construction occurring along the periphery where there is space available. Infill is the practice of building new homes in already developed neighbourhoods or lands by either tearing down the existing home, building on a vacant lot, or splitting larger properties to allow for additional units. These homes are very popular as they allow for modern living in a brand new home, without the commute that comes with living in the suburbs. The Benefits of Infill Construction The building of infills provides new and modern construct...

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Ottawa Neighbourhoods to Watch

Spring Market: 4 Neighbourhoods to Watch As the spring real estate market in Ottawa heats up, here are some neighbourhoods that will certainly be of interest to home buyers. Each of these communities has something unique and different to offer so there is something for everyone.  No matter what community you are looking at, don’t forget to hire a Realtor® to help you find your dream home (and make sure that you get it for the right price!) Bells Corners – Re-imagining an older neighbourhood With the opening of the Department of National Defense Headquarters at Carling Avenue and Moodie Drive, Bells Corners is seeing unprecedented growth with many DND employees choosing to live, lunch or shop in the area. This growth has even had the Bells Corners BIA executive director declaring that the area is “the next Westboro”. Housing in the area has also been on the rise. There is a 2000-unit housing development in the works off of Robertson Road and property values are seeing slow and st...

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Why Use a Full Service Realtor®?

The decision to buy or sell a home is a big one; there is so much to think about and do! A home is likely the largest investment you will ever, or have ever, made in your life and it’s important to have someone you can trust to make the process as smooth as possible and offer expert advice. A Royal LePage Team Realty Realtor® offers full service support which ensures that you will have experience, knowledge, and expertise in your court every step of the way as you navigate your next move. Most importantly, a full service Realtor® will be there to guide you when things get tricky and ensure that your assets are protected. Full Service for Buyers You want to find the right home, in the right location, at the right price and a Royal LePage Team Realty Realtor® can help ensure all these things while making sure there is minimal hassle. Your Realtor® will work with you to determine your wants and needs, time frames, and financial boundaries in order to find you the perfect home. Once you ha...

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Ottawa Real Estate Market 2019

Ottawa Real Estate Update: February Buyers Snap Up Limited Inventory

FEBRUARY 2019 Ottawa Real Estate MARKET HIGHLIGHTS  Buyers Snap Up Limited Inventory! HIGHLIGHTS (RELEASED BY THE OTTAWA REAL ESTATE BOARD MARCH 5TH, 2019) Total properties sold: 1,005 residential properties sold on MLS® compared with 978 in February 2018, an increase of 2.8%  756 in the residential property class, a rise of 3.8% over Feb 2019 249 in the condominium property class, a decrease of 0.4 % from February 2018. The five-year average for February sales is 949. “February has been a strong month, and with year-to-date unit sales 8% higher in both the condo and residential categories, it is looking very favourable for the spring market,” states Ottawa Real Estate Board’s 2019 President. “Days on market continue to decline, and although inventory has fallen to its lowest level in many years, we are still managing to satisfy demand even with 900 fewer listings than this time last year,” he adds. “If we had more supply, our unit sales would be even greater.” “If you ar...

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