Archives for Ottawa Real Estate

Buying a Home: What The Extras Cost

May 18, 2018 | Comments Off

Contracts and rentals to consider in home ownership When it comes to buying a home, there are always additional fees to be considering when you make an offer. Typically, a first-time home buyer needs to be aware of the costs associated with buying a home – legal fees, mortgage rates, home insurance, closing costs, property taxes, land transfer fees…But what about those little extras not everyone considers? The contracts and rentals associated with the home such as furnaces, hot water tanks, and in some locations even your septic tanks – and what that could cost you. The main point is
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The Walls Have Eyes – And Maybe Ears

May 11, 2018 | Comments Off

Real Estate Listings and Surveillance Systems Have you ever wondered if a house you’re looking at, might also be looking at you? Well, you’re not alone. It’s a common question when it comes to real estate listings regarding home surveillance systems, or “nanny cams.” Although there is technically no legal position preventing homeowners from having their surveillance system, it can’t help but feel a little creepy to consider that the seller may potentially be watching you as you look at their home. Some homes may have signage stating that there is video/audio surveillance. However, it is not always required depending
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Hot Real Estate Market in an Icy April

May 4, 2018 | Comments Off

Empty attachment or post type not equal ‘attachment’ The Spring market continues to buzz in Ottawa real estate, with the number of sales up over 13% in April in spite of inventory levels being down 23% over this time last year. Home buyers are seeing more competition, which is good news for sellers. Certainly we are seeing more multiple offers and higher sale prices, however, with prices still reasonable compared to income in Ottawa real estate these factors aren’t stopping buyers. Hot Real Estate Market in an Icy April May 3, 2018 Highlights from the Ottawa Real Estate Board
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What Home Buyers Should be Looking for When Viewing a Property

April 23, 2018 | Comments Off

You’ve done your research, found the perfect Realtor, crunched the numbers, created your list of must-haves and now it’s time to start the exciting process of HOUSE HUNTING! When you’re looking at homes for sale it isn’t always easy to look beyond the cosmetics. Not to worry, we’ve created this handy graphic to help home buyers to stay focused. Empty attachment or post type not equal ‘attachment’
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March Market Snapshot

April 5, 2018 | Comments Off

Empty attachment or post type not equal ‘attachment’ Buyers Get a Jump on the Spring Market taken from the Ottawa Real Estate Board April 5, 2018 Members of the Ottawa Real Estate Board sold 1,660 residential properties in March through the Board’s Multiple Listing Service® System, compared with 1,478 in March 2017, an increase of 12.3 per cent. The five-year average for March sales is 1,339. March’s sales included 358 in the condominium property class and 1,302 in the residential property class. “Inventory continues to fall below normal average, but we are still seeing more sales than last year because
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Buyers Toolkit – Springtime

March 26, 2018 | Comments Off

Buyers Toolkit – Springtime Spring is in the air, and the real-estate market is ramping up for the beginning of buyers’ season. Things tend to move faster in the spring and houses for sale are often sold shortly after they are listed. As a potential home buyer, it is important to be prepared as possible before you start looking at potential homes – that way, the chance of losing your “dream home” to another buyer is greatly decreased. You may be wondering … “What are some of the important things that can help you stay on-top of, and ahead of
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Landlords and Legalization: What budding weed laws may mean for Landlords

March 14, 2018 | Comments Off

Landlords and Legalization: What budding weed laws may mean for Landlords With the legalization of marijuana on the horizon, property owners of rental units are wondering what that will mean for them. As all the rules and regulations surrounding cannabis use have yet to be ironed out, it’s only natural that landlords are beginning express concern, or in some cases excitement surrounding the opportunities legalization will present. The legalization of medical cannabis passed in 2001, but as Canada moves forward to legalize the use of cannabis across the country, there are many different views surrounding the changes. With multiple angles to
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Spring Cleaning 101: Tips On Getting Your Home Ready For Sale

March 7, 2018 | Comments Off

Spring Cleaning 101: Tips On Getting Your Home Ready For Sale Contrary to years prior, 2018 has presented us with a rather mild, wet March. As such, we’ve barely approached the standard season for “April showers” and have already received enough rain and wet weather to rid most of the snow! The month, however is still young; and, as unpredictable as Mother Nature can be when it comes to delivering cold weather and long winters, we think it’s safe to assume that Jack frost might just bite a time or two more. This said, if you’re in the market to
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Wanted: Ottawa Homes for Sale

March 5, 2018 | Comments Off

Wanted: Ottawa Homes For Sale When the calendar rolled over into 2018 many real estate experts across Canada were speculating the housing market to “cool off” with tighter mortgage rules and higher interest rates impacting home buyers. While that may be the case in other real estate markets, in the Ottawa Real Estate market the biggest factor in February’s 2.8% drop in the number of sales (year over year), is that listing inventory is scarce. “There is no doubt our sales number would have been much higher if we had more properties available for sale. Buyer demand is there, but our
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New Mortgage Rules – Renewing and Refinancing

March 1, 2018 | Comments Off

New Mortgage Rules – Renewing and Refinancing January 1st, 2018 Canada’s new mortgage rules came into effect and it was big news. These new rules appear to have the greatest impact on those looking to qualify for a new mortgage but if you are looking to renew or refinance your mortgage, you may be impacted as well. At the centre of the new rules is a stress test requiring applicants to qualify at a rate at least 2% higher than the rate they will be paying, regardless of the down payment they are making on the home. The new rules
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LAUREE JOHNSON