Real Estate Blog

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 pote...

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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. T...

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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 hous...

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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 bas...

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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 R...

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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 ...

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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 s...

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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 s...

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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 ...

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Understanding Multiple Offers

As Ottawa continues to be a hot market with a low inventory, the number of multiple offer situations seems to be on the rise. When a home goes to “multiple offers”, all offers on the home must be made at a set time and the seller is able to choose which one they would like to go with or negotiate. This can be a complicated situation for buyers and sellers so here is what you can expect. Keep in mind though that the most important thing you can do as either a buyer or seller in these situations, is to consult with your Realtor so that you are prepared; th...

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Buying a Home that is “For Sale By Owner”

A home is likely the biggest purchase of your life so what happens if you find the perfect property but it is “For Sale By Owner” (FSBO)? To avoid surprises, headaches, and extra costs, it is always advisable to work with Buyer’s Agent; just because the seller has opted to go it alone does not mean that you have to! A Buyer’s Agent will represent your best interests through the process and will ensure that you know what you are buying without any surprises. Here are some important things to consider before making an offer on a FSBO home. Who Pays the Com...

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Primary Residence Tax Exemption

The federal government has recently made some changes to the Canadian tax system regarding the capital gains from selling residences. Some people are quite worried about what these changes, which you can find directly from the CRA, may come to mean when they sell their homes, but you shouldn’t panic. These changes will not greatly affect most homeowners, who only own a single home they live in. What will stay the same: The capital gains tax exemption from selling a principal residence will not change. This means that any profit you make on selling your h...

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