I first saw this about 10 years ago. Interesting.
Wednesday, December 08, 2010
Christmas Montreal 1957-
1957 would be our second Christmas in Montreal after our move from Ottawa. I think the Santa scenes were in Eaton's later to become Eaton before disappearing.
Wednesday, November 24, 2010
Housing styles and types, explained
The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the 2010-11-18 issue of the EMC community newspapers.
When you’re working with a member of the Ottawa Real Estate Board (OREB) to purchase a home, he or she will create an automated search of properties available for sale to find homes that meet your criteria, such as price, location and number of bedrooms. But there are other search criteria that help your real estate professional narrow down the type of home you are hoping to buy. Some of those terms are common sense while others may be less easy to figure out. Here is a glossary of the terms used for housing styles and types by OREB:
Residential - a form of property ownership in which the homeowner holds freehold title to a dwelling unit and block of land; often referred to as freehold.
Condominium - a form of property ownership in which the homeowner holds title to an individual dwelling unit, an undivided interest in common areas of a multi-unit project, and sometimes the exclusive use of certain limited common areas.
Detached: A single dwelling unit standing alone, separately titled.
Row Unit: One dwelling unit of a group of three or more attached, self-contained dwelling units of similar design and size, each unit separately titled. These are often referred to as townhomes.
Semi-Detached: One of a pair of self-contained dwelling units, attached by a common wall but detached from other buildings; separately titled.
Apartment: One unit of a complex of self-contained units lying within a low, mid or high rise building, offering common areas such as hallways, parking lots, stairwells, etc.
Stacked: One unit in a complex containing individual residences stacked on top of each other like apartments (often multi-level), contained in a single structure resembling traditional row houses. Each unit has a separate entrance and is separately titled.
One Level: An apartment with all of its rooms on one level.
1 ½ Storey: a single family dwelling with 2 levels above grade. The upper level is full height at the centre peak but dramatically slopes to shorter height along the outer walls.
2 Storey: A single family dwelling with 2 levels above grade.
3 Storey: A single family dwelling with 3 levels above grade.
Bungalow: A single family dwelling with 1 level above grade.
Double Side by Side: A building which consists of two dwelling units beside one another; under single ownership (one legal description); looks like a semi-detached.
Duplex-Up/Down: A building which consists of two dwelling units, one above the other; under single ownership.
Hi-Ranch: A single family dwelling with 1 level above grade and the basement level elevated partially above grade. Entry is located halfway between basement level and main level.
Split Level: A single family dwelling with multiple levels above grade, separated by small flights of stairs.
Obviously, some homes are more easily categorized than others; members of OREB try very hard to classify a home correctly when listing it on the MLS® System. Your real estate professional can help you determine which type and style of home might best suit your family’s needs. Who knows - you might find yourself looking at a style of home you’d never considered before!
When you’re working with a member of the Ottawa Real Estate Board (OREB) to purchase a home, he or she will create an automated search of properties available for sale to find homes that meet your criteria, such as price, location and number of bedrooms. But there are other search criteria that help your real estate professional narrow down the type of home you are hoping to buy. Some of those terms are common sense while others may be less easy to figure out. Here is a glossary of the terms used for housing styles and types by OREB:
Residential - a form of property ownership in which the homeowner holds freehold title to a dwelling unit and block of land; often referred to as freehold.
Condominium - a form of property ownership in which the homeowner holds title to an individual dwelling unit, an undivided interest in common areas of a multi-unit project, and sometimes the exclusive use of certain limited common areas.
Detached: A single dwelling unit standing alone, separately titled.
Row Unit: One dwelling unit of a group of three or more attached, self-contained dwelling units of similar design and size, each unit separately titled. These are often referred to as townhomes.
Semi-Detached: One of a pair of self-contained dwelling units, attached by a common wall but detached from other buildings; separately titled.
Apartment: One unit of a complex of self-contained units lying within a low, mid or high rise building, offering common areas such as hallways, parking lots, stairwells, etc.
Stacked: One unit in a complex containing individual residences stacked on top of each other like apartments (often multi-level), contained in a single structure resembling traditional row houses. Each unit has a separate entrance and is separately titled.
One Level: An apartment with all of its rooms on one level.
1 ½ Storey: a single family dwelling with 2 levels above grade. The upper level is full height at the centre peak but dramatically slopes to shorter height along the outer walls.
2 Storey: A single family dwelling with 2 levels above grade.
3 Storey: A single family dwelling with 3 levels above grade.
Bungalow: A single family dwelling with 1 level above grade.
Double Side by Side: A building which consists of two dwelling units beside one another; under single ownership (one legal description); looks like a semi-detached.
Duplex-Up/Down: A building which consists of two dwelling units, one above the other; under single ownership.
Hi-Ranch: A single family dwelling with 1 level above grade and the basement level elevated partially above grade. Entry is located halfway between basement level and main level.
Split Level: A single family dwelling with multiple levels above grade, separated by small flights of stairs.
Obviously, some homes are more easily categorized than others; members of OREB try very hard to classify a home correctly when listing it on the MLS® System. Your real estate professional can help you determine which type and style of home might best suit your family’s needs. Who knows - you might find yourself looking at a style of home you’d never considered before!
Tuesday, November 23, 2010
How to make a festive Christmas wreath
1) Gather evergreen pieces about 40 cm long. (Be sure to ask permission from landowner first.) 2) Use wire cutters to cut pieces into hand-size lengths.
3) Pile three or four pieces together to be wired to the wreath form.
4) Attach one end of your floral wire to the wreath frame and holding a length of greenery on the front of the frame, wind the floral wire around the end of the boughs and the frame.
5) Don't cut the floral wire. The idea is to use a continuous length of wire to secure the lengths of evergreen to the form.
6) Next, secure a second length of evergreen on the back of the frame, several centimetres further along the wreath form. Tie it in place with the floral wire.
7) Secure a third bunch of greenery on the front, overlapping the first, the fourth on the back, overlapping the second. Continue in this manner until the wreath is complete.
8) Secure the final length of evergreen with an extra twist, and cut floral wire.
9) Trim uneven pieces with wire cutters.
10)Decorate with ribbons, cones, or other items
3) Pile three or four pieces together to be wired to the wreath form.
4) Attach one end of your floral wire to the wreath frame and holding a length of greenery on the front of the frame, wind the floral wire around the end of the boughs and the frame.
5) Don't cut the floral wire. The idea is to use a continuous length of wire to secure the lengths of evergreen to the form.
6) Next, secure a second length of evergreen on the back of the frame, several centimetres further along the wreath form. Tie it in place with the floral wire.
7) Secure a third bunch of greenery on the front, overlapping the first, the fourth on the back, overlapping the second. Continue in this manner until the wreath is complete.
8) Secure the final length of evergreen with an extra twist, and cut floral wire.
9) Trim uneven pieces with wire cutters.
10)Decorate with ribbons, cones, or other items
Resale Market Becomes More Balanced
Courtesy of the Ottawa Real Estate Board-released November 2, 2010
Ottawa, November 2,2010 :Members of the Ottawa Real Estate Board sold 1,042 residential properties in October through the Board’s Multiple Listing Service® system compared with 1,197 in October 2009, a decrease of 12.9 per cent. Year to date, the number of properties sold has declined 2% compared to the same period last year, a record setting year.Of those sales, 221 were in the condominium property class, while 821 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“Six months ago we were in a strong seller’s market, now we have moved into a more balanced market position,” said Immediate Past President Rick Snell. “Some properties are still receiving multiple offers but this is happening much less often than was the case in the spring.”
The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $340,719, an increase of 6.8 per cent over October 2009. The average sale price for a condominium-class property was $263,292, an increase of 13.4 per cent over October 2009. The average sale price of a residential-class property was $361,560, an increase of 5 per cent over October 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,600 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
View Full Report
Ottawa, November 2,2010 :Members of the Ottawa Real Estate Board sold 1,042 residential properties in October through the Board’s Multiple Listing Service® system compared with 1,197 in October 2009, a decrease of 12.9 per cent. Year to date, the number of properties sold has declined 2% compared to the same period last year, a record setting year.Of those sales, 221 were in the condominium property class, while 821 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“Six months ago we were in a strong seller’s market, now we have moved into a more balanced market position,” said Immediate Past President Rick Snell. “Some properties are still receiving multiple offers but this is happening much less often than was the case in the spring.”
The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $340,719, an increase of 6.8 per cent over October 2009. The average sale price for a condominium-class property was $263,292, an increase of 13.4 per cent over October 2009. The average sale price of a residential-class property was $361,560, an increase of 5 per cent over October 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,600 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
View Full Report
Friday, October 15, 2010
Winter Tires-
Why switch to winter tires when the average temperature drops below 6ºC?
By Brad Sherwin
In the closing days of 2007, the Province of Quebec passed a new road safety act that included a number of initiatives designed to reduce deaths, injuries and property damage on the province's highways. One aspect of the new legislation that has generated significant comment is the requirement that beginning in 2008 vehicles have a full set of winter tires when driven between November 15 and April 15.
The importance of winter tires in driver safety and security is well known by those of us in the auto industry. Indeed, there is a wide consensus among safety experts, police, car manufacturers and knowledgeable observers that the addition of four winter tires makes a real and measurable difference in handling, braking, directional stability and starting traction. Countless demonstrations have made believers out of anyone who witnessed a comparison, in winter conditions, between summer tires and winter tires, or even between all-season tires and winter tires.
Indeed, the rapid advance of new technologies recently introduced in winter tires has made that performance difference even greater. The science of tread design has certainly made a contribution, but it is the development of highly specialized compounds for winter tires that has made the most profound difference in performance.
In the case of the Yokohama Rubber Co., the introduction of new technologies has been driven by research that helped identify the danger zone when temperatures are between minus 6 degrees C and 0 degrees C - the temperature when a thin film of water forms between the tire and ice, and creates some of the most difficult driving conditions. That, in turn, prompted the development of features for dealing with that water like the shelled micro-bubbles and absorptive carbon flakes used in the compound of the new Yokohama Ice Guard IG 20 automobile winter tires, and the Yokohama Geolandar I/T G072 winter tires for light trucks and SUVs. Our competitors likely won't be too far behind with their own new features.
It is also increasingly well known that the purchase of winter tires does not represent a substantial increase in the cost of vehicle operation when measured over the total period of ownership. By switching to winter tires, owners are effectively extending the life of their summer or all-season tires; for every month the winter tire is in use, the tire it replaces is not suffering wear. If most owners keep their vehicles between 48 and 60 months, many would normally have to replace tires once during that period. A set of winter tires and a set of summer or all-season tires would be the equivalent of two sets of summer tires with the benefit of added safety and security.
That said, many Canadians have found that all-season tires suit their needs. Those who live in areas with moderate winters or who do limited winter driving have told us that all-season tires perform well in those conditions. While we still recommend winter tires for winter conditions, we certainly respect their choice.
Quebec is not the first jurisdiction to mandate winter tire use, of course. A number of countries in Europe like Sweden, Norway, Finland and Latvia already require the seasonal use of winter tires, while winter tires are mandatory on certain designated roads in countries like France, Austria and Italy. But it may surprise you to know that we do not expect a substantial increase in business as a result of Quebec's new law. It is important to point out that Quebec already has Canada's highest adoption rate for winter tires. Some estimates suggest 80% to 90% of Quebec drivers already employ winter tires, so the actual increase will be incremental to the industry's volumes. Still, we applaud any initiative to enhance road safety and know the improvement in overall safety will be welcome.
Finally, there is a new and growing factor in the discussion of the role of winter tires that we need to acknowledge: the environment.
It is an accepted fact that the salt used on roads in the winter has a serious - and cumulative - negative impact on our water supply. Thousands of tons of salt are used every year across the country to treat roads, and that salt eventually finds its way into our rivers, lakes and wetlands. The impact is very profound, particularly in environmentally sensitive areas where dissolved salts can harm fragile eco-systems.
Provinces and municipalities are struggling to address this issue. Part of the solution may lie in winter tires. Drivers who don't use winter tires rely on the provinces and municipalities to clear roads to bare condition so they can drive. In turn, provinces and municipalities have relied on salt to help create a road surface where drivers without winter tires have some minimal mobility.
If all drivers took the initiative to adopt winter tires, we could drastically reduce the use of salt on roads, and with it the damage salt does to the environment (not to mention roads, bridges and automobiles). Roads would still need to be plowed and sanded, but it would be a win-win situation: Improved safety for road users and reduced damage to the environment from excessive salting.
Much will be said and written in coming months about the new Quebec law. I hope our perspective helps illuminate the discussion. If you have any questions about this or any other tire issue, please don't hesitate to contact me.
Brad Sherwin is the marketing communications manager for Yokohama Tire (Canada) Inc. He can be reached at 604-464-6700 x1119. © CarTest.ca.
Editor's note: Winter-rated tires can be identified by a snowflake symbol on the sidewall.
By Brad Sherwin
In the closing days of 2007, the Province of Quebec passed a new road safety act that included a number of initiatives designed to reduce deaths, injuries and property damage on the province's highways. One aspect of the new legislation that has generated significant comment is the requirement that beginning in 2008 vehicles have a full set of winter tires when driven between November 15 and April 15.
The importance of winter tires in driver safety and security is well known by those of us in the auto industry. Indeed, there is a wide consensus among safety experts, police, car manufacturers and knowledgeable observers that the addition of four winter tires makes a real and measurable difference in handling, braking, directional stability and starting traction. Countless demonstrations have made believers out of anyone who witnessed a comparison, in winter conditions, between summer tires and winter tires, or even between all-season tires and winter tires.
Indeed, the rapid advance of new technologies recently introduced in winter tires has made that performance difference even greater. The science of tread design has certainly made a contribution, but it is the development of highly specialized compounds for winter tires that has made the most profound difference in performance.
In the case of the Yokohama Rubber Co., the introduction of new technologies has been driven by research that helped identify the danger zone when temperatures are between minus 6 degrees C and 0 degrees C - the temperature when a thin film of water forms between the tire and ice, and creates some of the most difficult driving conditions. That, in turn, prompted the development of features for dealing with that water like the shelled micro-bubbles and absorptive carbon flakes used in the compound of the new Yokohama Ice Guard IG 20 automobile winter tires, and the Yokohama Geolandar I/T G072 winter tires for light trucks and SUVs. Our competitors likely won't be too far behind with their own new features.
It is also increasingly well known that the purchase of winter tires does not represent a substantial increase in the cost of vehicle operation when measured over the total period of ownership. By switching to winter tires, owners are effectively extending the life of their summer or all-season tires; for every month the winter tire is in use, the tire it replaces is not suffering wear. If most owners keep their vehicles between 48 and 60 months, many would normally have to replace tires once during that period. A set of winter tires and a set of summer or all-season tires would be the equivalent of two sets of summer tires with the benefit of added safety and security.
That said, many Canadians have found that all-season tires suit their needs. Those who live in areas with moderate winters or who do limited winter driving have told us that all-season tires perform well in those conditions. While we still recommend winter tires for winter conditions, we certainly respect their choice.
Quebec is not the first jurisdiction to mandate winter tire use, of course. A number of countries in Europe like Sweden, Norway, Finland and Latvia already require the seasonal use of winter tires, while winter tires are mandatory on certain designated roads in countries like France, Austria and Italy. But it may surprise you to know that we do not expect a substantial increase in business as a result of Quebec's new law. It is important to point out that Quebec already has Canada's highest adoption rate for winter tires. Some estimates suggest 80% to 90% of Quebec drivers already employ winter tires, so the actual increase will be incremental to the industry's volumes. Still, we applaud any initiative to enhance road safety and know the improvement in overall safety will be welcome.
Finally, there is a new and growing factor in the discussion of the role of winter tires that we need to acknowledge: the environment.
It is an accepted fact that the salt used on roads in the winter has a serious - and cumulative - negative impact on our water supply. Thousands of tons of salt are used every year across the country to treat roads, and that salt eventually finds its way into our rivers, lakes and wetlands. The impact is very profound, particularly in environmentally sensitive areas where dissolved salts can harm fragile eco-systems.
Provinces and municipalities are struggling to address this issue. Part of the solution may lie in winter tires. Drivers who don't use winter tires rely on the provinces and municipalities to clear roads to bare condition so they can drive. In turn, provinces and municipalities have relied on salt to help create a road surface where drivers without winter tires have some minimal mobility.
If all drivers took the initiative to adopt winter tires, we could drastically reduce the use of salt on roads, and with it the damage salt does to the environment (not to mention roads, bridges and automobiles). Roads would still need to be plowed and sanded, but it would be a win-win situation: Improved safety for road users and reduced damage to the environment from excessive salting.
Much will be said and written in coming months about the new Quebec law. I hope our perspective helps illuminate the discussion. If you have any questions about this or any other tire issue, please don't hesitate to contact me.
Brad Sherwin is the marketing communications manager for Yokohama Tire (Canada) Inc. He can be reached at 604-464-6700 x1119. © CarTest.ca.
Editor's note: Winter-rated tires can be identified by a snowflake symbol on the sidewall.
Tuesday, October 12, 2010
Do's and Don'ts for Bathrooms
Here are some tips from:
Sharon Hay
Senior Feng Shui Practitioner
www.canadianfengshui.ca
- Keep the toilet lid down, when not in use
- Keep shower curtain closed
- No pictures of people you know in the bathroom (The low chi of the bathroom can affect the people in the pictures)
- No spiritual books in the bathroom (it is not recommended to mix high vibrational information with waste) People magazine is OK.
- Best if toilet is hidden from view upon entering the main door of the home (If not, place visual to distract vision away from toilet, such as a plant or small table) It could affect health or career of the occupants
- Green, brown or beige can be most helpful by reducing the overabundance of the water element
- A bed should not be on the other side of the wall of the toilet plumbing
- The worst placement in the home for a toilet is the very center of the home. Can cause imbalance in the occupant's lives.
- Dripping taps encourage you to waste money, noisy plumbing and cisterns are disturbing on a subliminal level
- Don't have an abundance of mirror and glass in the bathroom as this adds to the overabundance of the water element which drains the energy out of your home
- Real Estate Agents: make sure you put all the toilet lids down before an open-hous
Sharon Hay
Senior Feng Shui Practitioner
www.canadianfengshui.ca
- Keep the toilet lid down, when not in use
- Keep shower curtain closed
- No pictures of people you know in the bathroom (The low chi of the bathroom can affect the people in the pictures)
- No spiritual books in the bathroom (it is not recommended to mix high vibrational information with waste) People magazine is OK.
- Best if toilet is hidden from view upon entering the main door of the home (If not, place visual to distract vision away from toilet, such as a plant or small table) It could affect health or career of the occupants
- Green, brown or beige can be most helpful by reducing the overabundance of the water element
- A bed should not be on the other side of the wall of the toilet plumbing
- The worst placement in the home for a toilet is the very center of the home. Can cause imbalance in the occupant's lives.
- Dripping taps encourage you to waste money, noisy plumbing and cisterns are disturbing on a subliminal level
- Don't have an abundance of mirror and glass in the bathroom as this adds to the overabundance of the water element which drains the energy out of your home
- Real Estate Agents: make sure you put all the toilet lids down before an open-hous
Friday, September 17, 2010
Ottawa Market-
Trending towards a balanced market.
EMC Ottawa South: Ottawa housing market balances as prices remain steady http://tinyurl.com/27bkphc
EMC Ottawa South: Ottawa housing market balances as prices remain steady http://tinyurl.com/27bkphc
Friday, September 03, 2010
Better supply of properties for sale brings balance to housing market; prices rise steadily
Published Sept. 3, 2010 by the Ottawa Real Estate Board
Ottawa, September 3,2010 :
After an HST- influenced dip in sales in July, August saw a return to a more normal number of sales. Members of the Ottawa Real Estate Board sold 1,122 residential properties in August through the Board’s Multiple Listing Service® system compared with 1,211 in August 2009, a decrease of 7.3 per cent. Of those sales, 266 were in the condominium property class, while 856 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“The number of sales year-to-date is slightly ahead of last year’s sales for the same period, and last year’s sales volume was the highest ever. This shows the stability of the Ottawa Real Estate Market. ” said Immediate Past President Rick Snell. “The market is in a balanced position in relation to the number of homes for sale and the demand for properties. This is a good market for both buyers and sellers. I expect to see a normal fall market with longer selling times and stable prices,” he added.
The average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $321,969, an increase of 2.1 per cent over August 2009. The average sale price for a condominium-class property was $262,999, an increase of 16.8 per cent over August 2009. The average sale price of a residential-class property was $340,294, an increase of 0.1 per cent over August 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,600 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
View Full Report
Ottawa, September 3,2010 :
After an HST- influenced dip in sales in July, August saw a return to a more normal number of sales. Members of the Ottawa Real Estate Board sold 1,122 residential properties in August through the Board’s Multiple Listing Service® system compared with 1,211 in August 2009, a decrease of 7.3 per cent. Of those sales, 266 were in the condominium property class, while 856 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“The number of sales year-to-date is slightly ahead of last year’s sales for the same period, and last year’s sales volume was the highest ever. This shows the stability of the Ottawa Real Estate Market. ” said Immediate Past President Rick Snell. “The market is in a balanced position in relation to the number of homes for sale and the demand for properties. This is a good market for both buyers and sellers. I expect to see a normal fall market with longer selling times and stable prices,” he added.
The average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $321,969, an increase of 2.1 per cent over August 2009. The average sale price for a condominium-class property was $262,999, an increase of 16.8 per cent over August 2009. The average sale price of a residential-class property was $340,294, an increase of 0.1 per cent over August 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,600 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
View Full Report
A home is more than an investment
This week we feature guest columnist Joanne Tibbles, who is the President-Elect of the Ottawa
Real Estate Board. Courtesy of the Ottawa Real Estate Board Sept. 2, 2010
The late comedian George Carlin once famously joked that a house is nothing but “a place to
keep your stuff.” Obviously, most homeowners believe that their house is so much more than
that. A home is where we live. It’s where we sleep, shower, read, play, and relax. Some people
work from their homes. Sometimes, a home can be an investment, purchased in the hopes of
making a profit. But just because a home is one of the biggest purchases you will make in your
lifetime doesn’t mean that it’s always a good idea to treat a home as an investment with quick
returns. The cable TV channels are fond of shows where people “flip” homes – buy them
cheaply, fix them up nicely and sell them off at a profit – but in the real world that kind of quick
profit isn’t always a sure thing.
As the real estate market moves toward balance in Ottawa, homeowners may begin to worry that
their homes aren’t appreciating in value as quickly as they once were, and that so-called “bidding
wars” (multiple offers) are becoming less common occurrences. This is only cause for concern if
you absolutely have to sell your home in the next little while. If, like many homeowners, you
bought your home because you love it, it suits your family’s needs, and it provides you with
somewhere to sleep, eat, relax and keep your stuff, then there’s no need to panic.
Home values in the Ottawa area have historically increased at a steady pace as the years go by.
Since 1956, the average sale price on homes sold via Ottawa’s MLS® system has only decreased
five times, and never by more than 4.3 per cent (way back in 1961). Average home prices
increased by somewhere between two and eight per cent in 32 of those 54 years, which gives you
a much better idea of how the Ottawa housing market generally operates. Slow and steady
growth is our hallmark here, bolstered by a stable employment market whose backbone is, of
course, the federal government, but that also is not dependent on industry for its stability.
Double-digit average price increases, on the other hand, are rare, occurring in only ten of the last
54 years. History has shown that over the long term, prices will generally rise here in Ottawa, so
housing remains a great long-term investment - but it may not be the best market for a quick
flip. If you do need to sell after a shorter time period, an experienced real estate professional who
knows the Ottawa market can help you sell for a price you’ll be happy with. He or she can also
advise you on up-and-coming neighbourhoods where a home may be more likely to appreciate in
value over the short term. Contact a member of the Ottawa Real Estate Board at
www.OttawaRealEstate.org.
Buying a home you can live in and enjoy for the long haul is never a bad idea, and will likely
turn out to be a good investment. Plus, it gives you somewhere to keep your stuff
Real Estate Board. Courtesy of the Ottawa Real Estate Board Sept. 2, 2010
The late comedian George Carlin once famously joked that a house is nothing but “a place to
keep your stuff.” Obviously, most homeowners believe that their house is so much more than
that. A home is where we live. It’s where we sleep, shower, read, play, and relax. Some people
work from their homes. Sometimes, a home can be an investment, purchased in the hopes of
making a profit. But just because a home is one of the biggest purchases you will make in your
lifetime doesn’t mean that it’s always a good idea to treat a home as an investment with quick
returns. The cable TV channels are fond of shows where people “flip” homes – buy them
cheaply, fix them up nicely and sell them off at a profit – but in the real world that kind of quick
profit isn’t always a sure thing.
As the real estate market moves toward balance in Ottawa, homeowners may begin to worry that
their homes aren’t appreciating in value as quickly as they once were, and that so-called “bidding
wars” (multiple offers) are becoming less common occurrences. This is only cause for concern if
you absolutely have to sell your home in the next little while. If, like many homeowners, you
bought your home because you love it, it suits your family’s needs, and it provides you with
somewhere to sleep, eat, relax and keep your stuff, then there’s no need to panic.
Home values in the Ottawa area have historically increased at a steady pace as the years go by.
Since 1956, the average sale price on homes sold via Ottawa’s MLS® system has only decreased
five times, and never by more than 4.3 per cent (way back in 1961). Average home prices
increased by somewhere between two and eight per cent in 32 of those 54 years, which gives you
a much better idea of how the Ottawa housing market generally operates. Slow and steady
growth is our hallmark here, bolstered by a stable employment market whose backbone is, of
course, the federal government, but that also is not dependent on industry for its stability.
Double-digit average price increases, on the other hand, are rare, occurring in only ten of the last
54 years. History has shown that over the long term, prices will generally rise here in Ottawa, so
housing remains a great long-term investment - but it may not be the best market for a quick
flip. If you do need to sell after a shorter time period, an experienced real estate professional who
knows the Ottawa market can help you sell for a price you’ll be happy with. He or she can also
advise you on up-and-coming neighbourhoods where a home may be more likely to appreciate in
value over the short term. Contact a member of the Ottawa Real Estate Board at
www.OttawaRealEstate.org.
Buying a home you can live in and enjoy for the long haul is never a bad idea, and will likely
turn out to be a good investment. Plus, it gives you somewhere to keep your stuff
Wednesday, August 18, 2010
Thursday, August 05, 2010
Still a seller’s market in Ottawa; prices rise steadily
Ottawa, August 5,2010 :Members of the Ottawa Real Estate Board sold 1,149 residential properties in July through the Board’s Multiple Listing Service® system compared with 1,578 in July 2009, a decrease of 27.2 per cent.Of those sales, 294 were in the condominium property class, while 855 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“Last July saw a record high number of sales in Ottawa, which was the result of pent-up demand as the market came out of a downturn. What we see this year is a return to more seasonal sales volumes,” said Board President Pierre de Varennes. “The ratio of listed properties to sold properties indicates that Ottawa remained in a seller’s market last month, and sale prices continued to rise at a steady pace, as they generally do here in the national capital,” he added.
The average sale price of residential properties, including condominiums, sold in July in the Ottawa area was $321,827 , an increase of 7.1 per cent over July 2009. The average sale price for a condominium-class property was $249,674 , an increase of 15.2 per cent over July 2009. The average sale price of a residential-class property was $346,638, an increase of 7.1 per cent over July 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,590 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
View Full Report
“Last July saw a record high number of sales in Ottawa, which was the result of pent-up demand as the market came out of a downturn. What we see this year is a return to more seasonal sales volumes,” said Board President Pierre de Varennes. “The ratio of listed properties to sold properties indicates that Ottawa remained in a seller’s market last month, and sale prices continued to rise at a steady pace, as they generally do here in the national capital,” he added.
The average sale price of residential properties, including condominiums, sold in July in the Ottawa area was $321,827 , an increase of 7.1 per cent over July 2009. The average sale price for a condominium-class property was $249,674 , an increase of 15.2 per cent over July 2009. The average sale price of a residential-class property was $346,638, an increase of 7.1 per cent over July 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,590 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
View Full Report
Tuesday, August 03, 2010
Thursday, July 22, 2010
Inventory Increases, Market Balances in June [2010]
Courtesy of the Ottawa Real Estate Board July 6, 2010
Members of the Ottawa Real Estate Board sold 1,615 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,897 in June 2009, a decrease of 14.9 per cent.
Of those sales, 418 were in the condominium property class, while 1,197 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“For the first time in 2010, inventory increased year-over-year in June, by almost six per cent. The Ottawa housing market is now moving towards balance, rather than the seller’s market we have been in for most of the past year,” said Board President Pierre de Varennes. “Sales last month were very close to the five-year average for June, so what we see here is a return to the stable, steady market conditions that Ottawa tends to experience. Home sale prices continued to grow at a healthy rate in June,” he added.
The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $326,572, an increase of 6.4 per cent over June 2009. The average sale price for a condominium-class property was $256,969, an increase of 8.3 per cent over June 2009. The average sale price of a residential-class property was $350,878, an increase of 7.4 per cent over June 2009. The Board cautions that 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.
Members of the Ottawa Real Estate Board sold 1,615 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,897 in June 2009, a decrease of 14.9 per cent.
Of those sales, 418 were in the condominium property class, while 1,197 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“For the first time in 2010, inventory increased year-over-year in June, by almost six per cent. The Ottawa housing market is now moving towards balance, rather than the seller’s market we have been in for most of the past year,” said Board President Pierre de Varennes. “Sales last month were very close to the five-year average for June, so what we see here is a return to the stable, steady market conditions that Ottawa tends to experience. Home sale prices continued to grow at a healthy rate in June,” he added.
The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $326,572, an increase of 6.4 per cent over June 2009. The average sale price for a condominium-class property was $256,969, an increase of 8.3 per cent over June 2009. The average sale price of a residential-class property was $350,878, an increase of 7.4 per cent over June 2009. The Board cautions that 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.
Wednesday, July 21, 2010
For Sale Semi Detached Bungalow-Beaconhill
1848 Elmridge-
Close to all services, churches, transportation and recreation. There is a tennis court across the street. Kitchen, bathrooms have been renovated. Handy deck leads to the private back yard. Only $284,900
Close to all services, churches, transportation and recreation. There is a tennis court across the street. Kitchen, bathrooms have been renovated. Handy deck leads to the private back yard. Only $284,900
Monday, July 12, 2010
CANADA’S REAL ESTATE MARKET TO COOL SLIGHTLY AFTER STRONG FIRST HALF
Market will cool down for the second half of 2010 in Canada.CANADA’S REAL ESTATE MARKET TO COOL SLIGHTLY AFTER STRONG FIRST HALF
Thursday, July 08, 2010
Inventory Increases, Market Balances in June [2010]
Reprinted from The Ottawa Real Estate Board July 6, 2010
July 6, 2010 : Inventory Increases, Market Balances in June [2010]
Members of the Ottawa Real Estate Board sold 1,615 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,897 in June 2009, a decrease of 14.9 per cent.
Of those sales, 418 were in the condominium property class, while 1,197 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“For the first time in 2010, inventory increased year-over-year in June, by almost six per cent. The Ottawa housing market is now moving towards balance, rather than the seller’s market we have been in for most of the past year,” said Board President Pierre de Varennes. “Sales last month were very close to the five-year average for June, so what we see here is a return to the stable, steady market conditions that Ottawa tends to experience. Home sale prices continued to grow at a healthy rate in June,” he added.
The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $326,572, an increase of 6.4 per cent over June 2009. The average sale price for a condominium-class property was $256,969, an increase of 8.3 per cent over June 2009. The average sale price of a residential-class property was $350,878, an increase of 7.4 per cent over June 2009. The Board cautions that 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.
July 6, 2010 : Inventory Increases, Market Balances in June [2010]
Members of the Ottawa Real Estate Board sold 1,615 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,897 in June 2009, a decrease of 14.9 per cent.
Of those sales, 418 were in the condominium property class, while 1,197 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“For the first time in 2010, inventory increased year-over-year in June, by almost six per cent. The Ottawa housing market is now moving towards balance, rather than the seller’s market we have been in for most of the past year,” said Board President Pierre de Varennes. “Sales last month were very close to the five-year average for June, so what we see here is a return to the stable, steady market conditions that Ottawa tends to experience. Home sale prices continued to grow at a healthy rate in June,” he added.
The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $326,572, an increase of 6.4 per cent over June 2009. The average sale price for a condominium-class property was $256,969, an increase of 8.3 per cent over June 2009. The average sale price of a residential-class property was $350,878, an increase of 7.4 per cent over June 2009. The Board cautions that 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.
Saturday, July 03, 2010
1848 Elmridge Open House-
Sunday July 4th. 2-4p.m.. Come on by. Click on th elink. See you there.
http://tinyurl.com/32ohzj9
http://tinyurl.com/32ohzj9
Wednesday, June 23, 2010
Friday, June 04, 2010
Slower May after record-setting April: could it be the HST?
Reprinted from the Ottawa Real Estate Board June 3, 2010 News Release
Members of the Ottawa Real Estate Board sold 1,694 residential properties in May through the Board’s Multiple Listing Service® system compared with 1,967 in May 2009, a decrease of 13.9 per cent.
Of those sales, 353 were in the condominium property class, while 1,341 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“Many of the sales that would normally have occurred in May were pulled back to April, due to buyers trying to avoid the May 1st transitional implementation date for the HST, as well as new mortgage regulations that came into effect April 19,” said Board President Pierre de Varennes. “Buyers knew they would be paying eight per cent more for all of the service costs associated with a real estate transaction if their closing date was after July 1, and that it might be more difficult to qualify for financing, so they moved quickly to avoid either situation. In addition, by comparison May 2009 was a record-breaking month as the floodgates opened on pent-up demand following the brief downturn in the market,” he added.
The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $333,408, an increase of 6.9 per cent over May 2009. The average sale price for a condominium-class property was $246,116, an increase of 6.4 per cent over May 2009. The average sale price of a residential-class property was $356,387, an increase of 8.3 per cent over May 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,590 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.
Members of the Ottawa Real Estate Board sold 1,694 residential properties in May through the Board’s Multiple Listing Service® system compared with 1,967 in May 2009, a decrease of 13.9 per cent.
Of those sales, 353 were in the condominium property class, while 1,341 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“Many of the sales that would normally have occurred in May were pulled back to April, due to buyers trying to avoid the May 1st transitional implementation date for the HST, as well as new mortgage regulations that came into effect April 19,” said Board President Pierre de Varennes. “Buyers knew they would be paying eight per cent more for all of the service costs associated with a real estate transaction if their closing date was after July 1, and that it might be more difficult to qualify for financing, so they moved quickly to avoid either situation. In addition, by comparison May 2009 was a record-breaking month as the floodgates opened on pent-up demand following the brief downturn in the market,” he added.
The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $333,408, an increase of 6.9 per cent over May 2009. The average sale price for a condominium-class property was $246,116, an increase of 6.4 per cent over May 2009. The average sale price of a residential-class property was $356,387, an increase of 8.3 per cent over May 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,590 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.
Thursday, May 27, 2010
Fabulous Waterfront-
Wednesday, May 26, 2010
Relocation doesn’t have to mean trepidation-
Moving to a new home within the same city is something many homeowners do over the course of their lives, whether it’s a move precipitated by changing housing needs or the desire to live closer to work, school or recreation. Whatever the reason, moving is a big deal and requires a lot of time and organization from every member of the family.
But moving from one city to another, especially a city you’ve never lived in before, can be an even more daunting undertaking. There are so many questions to answer: How do we find a new house? What neighbourhood should we choose to live in? What are the different types of homes
available in the new city? What’s the public transportation system like? Where are the sports and cultural facilities located? Should we try to live close to work, or commute, and how’s the traffic? If you’re moving for a new job or educational experience, you’ve got all the stress of that particular life change as well, on top of the basic questions of shelter for your family.
Fortunately, there are real estate professionals in every city who can help you find the answers to all of those questions and more. Their job is to help you build a new home base from which to establish your new life. Ottawa, as our national capital, is a city that many new residents choose to adopt as their home every year, whether they’re immigrating from another country or moving from another part of Canada. They might be members of Canada’s armed forces, foreign diplomatic personnel, or people working for the many companies who have their headquarters here in Ottawa. Because of the transient nature of our population, many members of the Ottawa Real Estate Board have ample experience in helping families relocate to Ottawa from somewhere
else.
A real estate professional can help you from the very beginning of the process: touring neighbourhoods with you to figure out which one is right for your family; finding listed homes that meet your family’s needs and wants; setting up appointments for viewings; and even
previewing homes to check that they meet your criteria. Even if you only have a short period of time in which to visit Ottawa and purchase a new home, a real estate professional can work within your schedule. If you’re moving from another province or country, he or she can also help you familiarize yourselves with local real estate laws and requirements, as well as recommending which conditions you might want to place on your offer, such as a satisfactory home inspection, first refusal clause, etc.
Once you’ve found a home you’d like to purchase, a real estate professional can also assist you in arranging mortgage financing, negotiating your offer with the sellers, and even recommending moving companies. So make your move a much more enjoyable experience – call a member of the Ottawa Real Estate Board, and enjoy your move to our fair city
The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the May 20, 2010 issue of the EMC community newspapers.
But moving from one city to another, especially a city you’ve never lived in before, can be an even more daunting undertaking. There are so many questions to answer: How do we find a new house? What neighbourhood should we choose to live in? What are the different types of homes
available in the new city? What’s the public transportation system like? Where are the sports and cultural facilities located? Should we try to live close to work, or commute, and how’s the traffic? If you’re moving for a new job or educational experience, you’ve got all the stress of that particular life change as well, on top of the basic questions of shelter for your family.
Fortunately, there are real estate professionals in every city who can help you find the answers to all of those questions and more. Their job is to help you build a new home base from which to establish your new life. Ottawa, as our national capital, is a city that many new residents choose to adopt as their home every year, whether they’re immigrating from another country or moving from another part of Canada. They might be members of Canada’s armed forces, foreign diplomatic personnel, or people working for the many companies who have their headquarters here in Ottawa. Because of the transient nature of our population, many members of the Ottawa Real Estate Board have ample experience in helping families relocate to Ottawa from somewhere
else.
A real estate professional can help you from the very beginning of the process: touring neighbourhoods with you to figure out which one is right for your family; finding listed homes that meet your family’s needs and wants; setting up appointments for viewings; and even
previewing homes to check that they meet your criteria. Even if you only have a short period of time in which to visit Ottawa and purchase a new home, a real estate professional can work within your schedule. If you’re moving from another province or country, he or she can also help you familiarize yourselves with local real estate laws and requirements, as well as recommending which conditions you might want to place on your offer, such as a satisfactory home inspection, first refusal clause, etc.
Once you’ve found a home you’d like to purchase, a real estate professional can also assist you in arranging mortgage financing, negotiating your offer with the sellers, and even recommending moving companies. So make your move a much more enjoyable experience – call a member of the Ottawa Real Estate Board, and enjoy your move to our fair city
The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the May 20, 2010 issue of the EMC community newspapers.
Tuesday, May 11, 2010
Friday, May 07, 2010
Wednesday, May 05, 2010
Hottest April on record for resale housing market
May 5, 2010 :
Courtesy of the Ottawa Real Estate Board
Members of the Ottawa Real Estate Board sold 1,841 residential properties in April through the Board’s Multiple Listing Service® system compared with 1,591 in April 2009, an increase of 15.7 per cent.
Of those sales, 425 were in the condominium property class, while 1,416 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“Last month’s sales blew away the record for April, which is always one of the busiest months of the year for our market,” said Board President Pierre de Varennes. “The increased sales activity may be partially due to buyers trying to avoid the impending HST and the mortgage changes that came into effect on April 19, but also demonstrates that consumers feel confident about our local economy,” he added.
The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $332,979, an increase of 11.6 per cent over April 2009. The average sale price for a condominium-class property was $254,220, an increase of 17.4 per cent over April 2009. The average sale price of a residential-class property was $356,617, an increase of 11.7 per cent over April 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,590 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.
Courtesy of the Ottawa Real Estate Board
Members of the Ottawa Real Estate Board sold 1,841 residential properties in April through the Board’s Multiple Listing Service® system compared with 1,591 in April 2009, an increase of 15.7 per cent.
Of those sales, 425 were in the condominium property class, while 1,416 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“Last month’s sales blew away the record for April, which is always one of the busiest months of the year for our market,” said Board President Pierre de Varennes. “The increased sales activity may be partially due to buyers trying to avoid the impending HST and the mortgage changes that came into effect on April 19, but also demonstrates that consumers feel confident about our local economy,” he added.
The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $332,979, an increase of 11.6 per cent over April 2009. The average sale price for a condominium-class property was $254,220, an increase of 17.4 per cent over April 2009. The average sale price of a residential-class property was $356,617, an increase of 11.7 per cent over April 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,590 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.
A home by the water
Sunset over the lake. A boat tied up to your own personal dock. Fishing and swimming seconds
from your back door. Many of us dream of living in a home that adjoins a body of water. But
buying, owning and maintaining a waterfront property isn’t as easy as you may think.
First of all, not all waterfront properties are alike. Living by a peaceful lake can have different
challenges than cohabiting with a rushing river. Many real estate professionals have extensive
experience helping people purchase and sell waterfront properties, so finding one that can help
you navigate the waters is a great idea.
If your waterfront lifestyle will include recreational activities like boating, swimming or fishing,
be sure to find out what type of access you would have to the waterfront, based on the land title.
The waterfront may be part of the property title, or the owner may simply have deeded access to
it. If there is a beach, check whether it is private, community only, or public. Your real estate
professional and lawyer will be able to help you get this information before you consider making
an offer on a waterfront property.
Also, renovating, improving or significantly changing a waterfront property may require extra
planning and permission from organizations such as Parks Canada or the local conservation
authority, in addition to the usual municipal planning and permit issues. Those organizations
work to protect environmentally sensitive areas, wetlands, fish and animal habitats, and natural
shorelines. They also conduct water quality testing, undertake flood forecasting and issue
warnings, and can be an excellent source of information and advocacy for waterfront
homeowners. Making changes to waterfront property without proper approval can carry
significant fines, so be sure to check with your local conservation authority before you build or
tear down.
Once you have permission to renovate or landscape, consult experts to make certain you’re
working with the land in such a way that any new buildings or systems (such as septic or wells)
will not be compromised by the water or natural erosion of the shoreline.
Finally, you want to make sure the nearby water will stay out of your home. Flooding is possible
almost anywhere, but the risk is magnified when a property is adjacent to a body of water. For a
quick check when you’re first thinking about waterfront properties, the City of Ottawa’s e-Maps
feature (located on their website Ottawa.ca) allows you to view the location of flood plains
throughout the city so that you can choose neighbourhoods with lower risk. However, when you
are considering making an offer, a home inspector who’s experienced in assessing waterfront
properties can help you determine what the flooding risks are with that particular property, and
can offer concrete suggestions about how to prevent flooding in the future.
A waterfront property can provide you and your family with many opportunities for recreation
and relaxation. By doing your homework and consulting with waterfront experts including real
estate professionals, home inspectors and conservation authorities, you can buy that lakefront
home or riverside cottage with greater peace of mind.
The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the May 2010 issue of the EMC community
from your back door. Many of us dream of living in a home that adjoins a body of water. But
buying, owning and maintaining a waterfront property isn’t as easy as you may think.
First of all, not all waterfront properties are alike. Living by a peaceful lake can have different
challenges than cohabiting with a rushing river. Many real estate professionals have extensive
experience helping people purchase and sell waterfront properties, so finding one that can help
you navigate the waters is a great idea.
If your waterfront lifestyle will include recreational activities like boating, swimming or fishing,
be sure to find out what type of access you would have to the waterfront, based on the land title.
The waterfront may be part of the property title, or the owner may simply have deeded access to
it. If there is a beach, check whether it is private, community only, or public. Your real estate
professional and lawyer will be able to help you get this information before you consider making
an offer on a waterfront property.
Also, renovating, improving or significantly changing a waterfront property may require extra
planning and permission from organizations such as Parks Canada or the local conservation
authority, in addition to the usual municipal planning and permit issues. Those organizations
work to protect environmentally sensitive areas, wetlands, fish and animal habitats, and natural
shorelines. They also conduct water quality testing, undertake flood forecasting and issue
warnings, and can be an excellent source of information and advocacy for waterfront
homeowners. Making changes to waterfront property without proper approval can carry
significant fines, so be sure to check with your local conservation authority before you build or
tear down.
Once you have permission to renovate or landscape, consult experts to make certain you’re
working with the land in such a way that any new buildings or systems (such as septic or wells)
will not be compromised by the water or natural erosion of the shoreline.
Finally, you want to make sure the nearby water will stay out of your home. Flooding is possible
almost anywhere, but the risk is magnified when a property is adjacent to a body of water. For a
quick check when you’re first thinking about waterfront properties, the City of Ottawa’s e-Maps
feature (located on their website Ottawa.ca) allows you to view the location of flood plains
throughout the city so that you can choose neighbourhoods with lower risk. However, when you
are considering making an offer, a home inspector who’s experienced in assessing waterfront
properties can help you determine what the flooding risks are with that particular property, and
can offer concrete suggestions about how to prevent flooding in the future.
A waterfront property can provide you and your family with many opportunities for recreation
and relaxation. By doing your homework and consulting with waterfront experts including real
estate professionals, home inspectors and conservation authorities, you can buy that lakefront
home or riverside cottage with greater peace of mind.
The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the May 2010 issue of the EMC community
Tuesday, May 04, 2010
Brookfield Real Estate Services Fund-
Results from one of our associated companies:http://tinyurl.com/26pljqd
Wednesday, April 21, 2010
626 Waterfront on Lac Louisa-
House on the property with garage, Investigate development possibilities.626 feet of waterfront. http://tinyurl.com/2bpz4oc. Call or email me and I'll set you up with an appointment. Short commute to Ottawa.
Wednesday, April 14, 2010
Think twice before selling privately
Think twice before selling privately
Sure you may save money, but do you have the ability?
By Garry Marr, The Financial PostApril 14, 2010
On the surface it seems like a no-brainer: Sell your home privately and save thousands on the commission you would pay to a real estate agent.
The average house sale price in Canada was $331,171 in the first two months of this year. Based on that, if you save the 5% commission-- a rough average -- that's $16,558 in your pocket.
No so fast. The first thing you have to ask yourself is whether you have the time and the ability to acquire the knowledge you're going to need to sell your home, even in this red-hot market.
Michelle Tittley, 33, who works in an administrative role in the House of Commons, sold her home in Ottawa's east end this month -- in about 48 hours.
It's the third home she's sold privately in the last five years.
"I do my research and I keep an eye on the market," says Ms. Tittley, who thinks the key to selling privately is understanding market conditions.
She doesn't dismiss the real estate establishment. For her last sale, she invited three agents to her house -- all knowing her plan to sell privately -- and asked them what it was worth. All three figured they'd get a shot at the listing if she couldn't sell privately.
"I got prices ranging from $265,000 to $295,000. I did my own research, looked for other houses in the area and listed it for $285,000. I got over-asking for it," she says.
One of the first issues she faced was whether to offer a commission to agents who brought clients to her home. Some in the for-sale-by-owner (FSBO) community suggest you could face a boycott from potential buyers with agents if you don't pay their commission, in the range of 2.5% of the usual 5% rate on the sale price.
Ms. Tittley decided to offer 1% commission to buying agents when she advertised on Grape Vine Home Marketing Consultants, which operates one of the top FSBO Web sites in eastern Ontario. She sold to a buyer whose agent demanded 2.5% when her clients were out of earshot. "She told me the 2.5% was not negotiable," says Ms. Tittley.
So did she come out ahead not using an agent?
The agent-led buyers came in over the asking price at $288,950. Minus the commission, that netted her just over $281,000 after paying for the listing on Grape Vine. She would have paid a larger commission fee listing with an agent on the real estate industry's Multiple Listing Service system, but she'll never know if she would gotten better offers. She doesn't think so.
"I don't like to say agents don't work for their money, but they're working for the buyer, so why should I pay them?" says Ms. Tittley, who admits it was easy to sell in this real estate market. "It took me two-and-a-half months to sell my first house five years ago. I had open houses every weekend."
Phil Soper, chief executive of Brookfield Real Estate Services, which operates the Royal LePage brand, argues a transaction done through traditional realtors comes with a certain amount of security.
"The principle downside [to selling privately] is you are moving outside the complete web of regulations put in place by the provincial and federal governments to protect consumers," he says. "It's like buying pharmaceuticals offshore -- sure they might work."
One private-sale issue rarely discussed is that the buyer almost always expects a discount because he or she knows you are saving on commission.
Craig Osborne, president of Grape Vine, agrees private selling is not for everybody. "There is a bit of a time factor and you need to have the confidence to be able to negotiate," says Mr. Osborne, who charges $245 for a basic listing on the Web site, up to $795, which includes signs, a photographer, even access to a registered real estate agent.
Jeff Usher is the realtor Mr. Osborne sends people to if that's what they want. He gets no commission, but will help with pricing a property, tips on how to handle a sale and generally be available for any advice.
Mr. Usher's model is likely to become more popular as the real estate industry, under pressure from The Competition Bureau, changes its rules to allow consumers to opt for a package that has an agent post their property on the MLS and not do much else.
"The landscape in real estate is changing drastically," says Mr. Usher, who maintains in today's hot market you don't need the MLS or a realtor to sell a property.
True enough, but when the market cools and houses sit unsold for a few weeks, more than a few would-be private sellers will be calling their local realtor and deciding that paying commission -- hopefully, it will have come down from 5% -- will be money well-spent.
- - -
gmarr@nationalpost.com
© Copyright (c) The Ottawa Citizen
Sure you may save money, but do you have the ability?
By Garry Marr, The Financial PostApril 14, 2010
On the surface it seems like a no-brainer: Sell your home privately and save thousands on the commission you would pay to a real estate agent.
The average house sale price in Canada was $331,171 in the first two months of this year. Based on that, if you save the 5% commission-- a rough average -- that's $16,558 in your pocket.
No so fast. The first thing you have to ask yourself is whether you have the time and the ability to acquire the knowledge you're going to need to sell your home, even in this red-hot market.
Michelle Tittley, 33, who works in an administrative role in the House of Commons, sold her home in Ottawa's east end this month -- in about 48 hours.
It's the third home she's sold privately in the last five years.
"I do my research and I keep an eye on the market," says Ms. Tittley, who thinks the key to selling privately is understanding market conditions.
She doesn't dismiss the real estate establishment. For her last sale, she invited three agents to her house -- all knowing her plan to sell privately -- and asked them what it was worth. All three figured they'd get a shot at the listing if she couldn't sell privately.
"I got prices ranging from $265,000 to $295,000. I did my own research, looked for other houses in the area and listed it for $285,000. I got over-asking for it," she says.
One of the first issues she faced was whether to offer a commission to agents who brought clients to her home. Some in the for-sale-by-owner (FSBO) community suggest you could face a boycott from potential buyers with agents if you don't pay their commission, in the range of 2.5% of the usual 5% rate on the sale price.
Ms. Tittley decided to offer 1% commission to buying agents when she advertised on Grape Vine Home Marketing Consultants, which operates one of the top FSBO Web sites in eastern Ontario. She sold to a buyer whose agent demanded 2.5% when her clients were out of earshot. "She told me the 2.5% was not negotiable," says Ms. Tittley.
So did she come out ahead not using an agent?
The agent-led buyers came in over the asking price at $288,950. Minus the commission, that netted her just over $281,000 after paying for the listing on Grape Vine. She would have paid a larger commission fee listing with an agent on the real estate industry's Multiple Listing Service system, but she'll never know if she would gotten better offers. She doesn't think so.
"I don't like to say agents don't work for their money, but they're working for the buyer, so why should I pay them?" says Ms. Tittley, who admits it was easy to sell in this real estate market. "It took me two-and-a-half months to sell my first house five years ago. I had open houses every weekend."
Phil Soper, chief executive of Brookfield Real Estate Services, which operates the Royal LePage brand, argues a transaction done through traditional realtors comes with a certain amount of security.
"The principle downside [to selling privately] is you are moving outside the complete web of regulations put in place by the provincial and federal governments to protect consumers," he says. "It's like buying pharmaceuticals offshore -- sure they might work."
One private-sale issue rarely discussed is that the buyer almost always expects a discount because he or she knows you are saving on commission.
Craig Osborne, president of Grape Vine, agrees private selling is not for everybody. "There is a bit of a time factor and you need to have the confidence to be able to negotiate," says Mr. Osborne, who charges $245 for a basic listing on the Web site, up to $795, which includes signs, a photographer, even access to a registered real estate agent.
Jeff Usher is the realtor Mr. Osborne sends people to if that's what they want. He gets no commission, but will help with pricing a property, tips on how to handle a sale and generally be available for any advice.
Mr. Usher's model is likely to become more popular as the real estate industry, under pressure from The Competition Bureau, changes its rules to allow consumers to opt for a package that has an agent post their property on the MLS and not do much else.
"The landscape in real estate is changing drastically," says Mr. Usher, who maintains in today's hot market you don't need the MLS or a realtor to sell a property.
True enough, but when the market cools and houses sit unsold for a few weeks, more than a few would-be private sellers will be calling their local realtor and deciding that paying commission -- hopefully, it will have come down from 5% -- will be money well-spent.
- - -
gmarr@nationalpost.com
© Copyright (c) The Ottawa Citizen
Capital housing prices outpacing other cities
Appears the trend is continuing. Good news for owners and a reason to become a Capital city property owner.
Capital housing prices outpacing other cities
Capital housing prices outpacing other cities
Monday, April 12, 2010
Competition czar fires back at realtors
I believe that there was and is no basis for the Competition Bureau's action.
Competition czar fires back at realtors
Competition czar fires back at realtors
Friday, April 09, 2010
Thursday, April 08, 2010
A Penny Savers Shopping Mall
The Secrets to a Successful Garage Sale
By: Ian Ponting
It is probably the only time you can throw your unwanted items on your front lawn without provoking a disapproving look from your neighbours. Instead, they’ll likely saunter over with a pocket full of money and a few cold beverages. This is what makes garage sales so appealing – they’re equally fun and profitable.
Garage sales are perfect for those planning a move. Alternatively they serve as a great incentive for those who have compiled a lot of extra ‘stuff’ over the years. They can prove especially profitable if you begin with a plan.
It is essential to begin planning a few weeks in advance so you have time to implement sales techniques, such as advertising. The best way to advertise is by adding unique touches to customary advertising ideas. Attaching an assortment of colourful balloons to a sign, or using a catchy phrase in your newspaper ad will help generate excitement. Your local real estate office can also provide you with garage sale signs. You should begin advertising about three to four days in advance of the sale. Be careful not to advertise too early as this could cause potential customers to forget about your sale.
You will have to select a start and finish time for your sale. For maximum success, it is suggested to begin around 7 am, as most garage sale goers are early birds.
A plan will help you prepare for the unexpected, such as a rainstorm. Simply setting up your sale in a sheltered location, such as a garage, or having an alternative location to quickly move your items to in the event you do get showered upon, could help avoid the cancellation of a planned event.
To avoid last minute scrambling, make sure all items you need for the sale are prepared in advance. Some things that should be on your list include plastic bags for shoppers, tables, boards and boxes to display your items and markers and tape for sudden price changes. You can even prepare for price changes by deciding beforehand how willing you are to negotiate on your prices. In most cases, you should have room to lower your fees by 25 to 50 per cent. You will also need to decide what methods of payment you will accept.
Once you have your advertising complete and your basic items prepared, you can plan your merchandising. This is an area that can separate profitable garage sales from ordinary ones. For example, to attract customers you should display your most unique and interesting items close to the street, where they will be easily spotted. Take advantage of product placement by placing children’s toys next to women’s clothing, which should help keep children occupied while their mothers shops. Although clothes are often difficult to sell at garage sales, you can improve your chances by neatly hanging and showcasing the garments rather than pilling them up.
Grouping similar items together will make the shopping experience more pleasurable and familiar to those who frequent department stores. Place all similar items together, just as they are done in your favourite store.
To ensure that people stay long enough to peruse over all your goods, make sure they’re comfortable. On a warm day, offer cold glasses of lemonade and juice. For the early birds, have coffee and donuts on hand. To keep the atmosphere lively, not to mention original, play music in the background throughout the day.
These simple tactics will make your garage sale more profitable for you, and more pleasurable for your customers and neighbours, giving them one more reason to drop in for a visit.
Every effort has been made to ensure the accuracy of this article. However, the information provided is general in nature and those with specific questions should seek professional advice that meets their particular requirements.
By: Ian Ponting
It is probably the only time you can throw your unwanted items on your front lawn without provoking a disapproving look from your neighbours. Instead, they’ll likely saunter over with a pocket full of money and a few cold beverages. This is what makes garage sales so appealing – they’re equally fun and profitable.
Garage sales are perfect for those planning a move. Alternatively they serve as a great incentive for those who have compiled a lot of extra ‘stuff’ over the years. They can prove especially profitable if you begin with a plan.
It is essential to begin planning a few weeks in advance so you have time to implement sales techniques, such as advertising. The best way to advertise is by adding unique touches to customary advertising ideas. Attaching an assortment of colourful balloons to a sign, or using a catchy phrase in your newspaper ad will help generate excitement. Your local real estate office can also provide you with garage sale signs. You should begin advertising about three to four days in advance of the sale. Be careful not to advertise too early as this could cause potential customers to forget about your sale.
You will have to select a start and finish time for your sale. For maximum success, it is suggested to begin around 7 am, as most garage sale goers are early birds.
A plan will help you prepare for the unexpected, such as a rainstorm. Simply setting up your sale in a sheltered location, such as a garage, or having an alternative location to quickly move your items to in the event you do get showered upon, could help avoid the cancellation of a planned event.
To avoid last minute scrambling, make sure all items you need for the sale are prepared in advance. Some things that should be on your list include plastic bags for shoppers, tables, boards and boxes to display your items and markers and tape for sudden price changes. You can even prepare for price changes by deciding beforehand how willing you are to negotiate on your prices. In most cases, you should have room to lower your fees by 25 to 50 per cent. You will also need to decide what methods of payment you will accept.
Once you have your advertising complete and your basic items prepared, you can plan your merchandising. This is an area that can separate profitable garage sales from ordinary ones. For example, to attract customers you should display your most unique and interesting items close to the street, where they will be easily spotted. Take advantage of product placement by placing children’s toys next to women’s clothing, which should help keep children occupied while their mothers shops. Although clothes are often difficult to sell at garage sales, you can improve your chances by neatly hanging and showcasing the garments rather than pilling them up.
Grouping similar items together will make the shopping experience more pleasurable and familiar to those who frequent department stores. Place all similar items together, just as they are done in your favourite store.
To ensure that people stay long enough to peruse over all your goods, make sure they’re comfortable. On a warm day, offer cold glasses of lemonade and juice. For the early birds, have coffee and donuts on hand. To keep the atmosphere lively, not to mention original, play music in the background throughout the day.
These simple tactics will make your garage sale more profitable for you, and more pleasurable for your customers and neighbours, giving them one more reason to drop in for a visit.
Every effort has been made to ensure the accuracy of this article. However, the information provided is general in nature and those with specific questions should seek professional advice that meets their particular requirements.
Wednesday, April 07, 2010
Ottawa housing Market Soars into Spring -
April 7, 201
source: Ottawa Real Estate Board
Members of the Ottawa Real Estate Board sold 1,499 residential properties in March through the Board’s Multiple Listing Service® system compared with 1,161 in March 2009, an increase of 29.1 per cent.
Of those sales, 327 were in the condominium property class, while 1,172 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“The spring market kicked off early and strong this year, possibly boosted by the unseasonably warm weather and absence of snow in March,” said Board President Pierre de Varennes. “Inventory is still lower than at this time in 2009, but has begun to increase slightly in recent months,” he added.
The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $329,767, an increase of 15 per cent over March 2009. The average sale price for a condominium-class property was $240,409, an increase of 15.1 per cent over March 2009. The average sale price of a residential-class property was $354,698, an increase of 15.1 per cent over March 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.
source: Ottawa Real Estate Board
Members of the Ottawa Real Estate Board sold 1,499 residential properties in March through the Board’s Multiple Listing Service® system compared with 1,161 in March 2009, an increase of 29.1 per cent.
Of those sales, 327 were in the condominium property class, while 1,172 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“The spring market kicked off early and strong this year, possibly boosted by the unseasonably warm weather and absence of snow in March,” said Board President Pierre de Varennes. “Inventory is still lower than at this time in 2009, but has begun to increase slightly in recent months,” he added.
The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $329,767, an increase of 15 per cent over March 2009. The average sale price for a condominium-class property was $240,409, an increase of 15.1 per cent over March 2009. The average sale price of a residential-class property was $354,698, an increase of 15.1 per cent over March 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.
Wednesday, February 03, 2010
A Great Start to 2010 for Ottawa’s Housing Market
Source: Ottawa Real Estate Board
Ottawa, February 3, 2010 : Members of the Ottawa Real Estate Board sold 713 residential properties in January through the Board’s Multiple Listing Service® system compared with 529 in January 2009, an increase of 34.8 per cent. Of those sales, 156 were in the condominium property class, while 557 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“These numbers are more in line with what we might expect for a typical January, whereas 2009 started off abnormally slow due to uncertain financial and market conditions worldwide,” said Board President Pierre de Varennes. “Although listing inventory remains low, we expect that will change as we head into the spring market and interest rates remain low,” he added.
The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $320,966, an increase of 11.4 per cent over January 2009. The average sale price for a condominium-class property was $259,273, an increase of 22.5 per cent over January 2009. The average sale price of a residential-class property was $338,244, an increase of 8.2 per cent over January 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
Ottawa, February 3, 2010 : Members of the Ottawa Real Estate Board sold 713 residential properties in January through the Board’s Multiple Listing Service® system compared with 529 in January 2009, an increase of 34.8 per cent. Of those sales, 156 were in the condominium property class, while 557 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“These numbers are more in line with what we might expect for a typical January, whereas 2009 started off abnormally slow due to uncertain financial and market conditions worldwide,” said Board President Pierre de Varennes. “Although listing inventory remains low, we expect that will change as we head into the spring market and interest rates remain low,” he added.
The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $320,966, an increase of 11.4 per cent over January 2009. The average sale price for a condominium-class property was $259,273, an increase of 22.5 per cent over January 2009. The average sale price of a residential-class property was $338,244, an increase of 8.2 per cent over January 2009. The Board cautions that 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.
The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
Wednesday, January 27, 2010
How to buy a house and have a life, too-
Anyone who has so much as dipped a toe into the real estate market knows that buying a home
can be a time-consuming effort. Determining what kind of home you want, figuring out your
budget, investigating neighbourhoods, searching for homes that interest you, booking
appointments, visiting Open Houses, and arranging financing can seriously eat into your spare
time (and your not-so-spare time, for that matter). It can be a daunting prospect, especially for
first-time buyers.
Working with a real estate professional can simplify your home-buying process immensely. Here
are just a few of the things that he or she will look after on your behalf:
• finds homes that meet your needs and wants
• arranges viewing appointments and accompanies you to showings
• provides you with information about comparable properties so you get a clearer picture of
what you should expect to pay for a given home
• when you’re ready, writes up your offer and presents it to the sellers
• negotiates on your behalf to reach an agreement
Think of these as things you could do on your own, but that would take up a lot of your time and
energy and might not be things you feel comfortable doing. Real estate professionals are welleducated
about the laws governing the sale and purchase of real property, and many of us focus
specifically on working with buyers. We can help you get from the start of your home search to
the closing date smoothly and efficiently.
While you’re in the process of buying that first home, it’s important to take a hard look at your
budget and lifestyle when determining how much you spend on it. Be realistic. Leave room in
your monthly budget for emergencies and small luxuries. That may mean buying a different
home than the one you’ve always envisioned, but how many of us want to be so “house poor”
that we can’t afford occasional treats like dinner out or a new pair of shoes? There are plenty of
well-appointed homes at many different price points in and around Ottawa, and a real estate
professional can help you find the ones that fit your budget. Remember to also plan for closing
costs, new furniture and any appliances or renovations your new abode might need. Your real
estate professional can help you figure out how much to set aside for these items.
You can also take advantage of tools such as the federal Home Buyer’s Plan, which allows firsttime
homebuyers to withdraw up to $25,000 from their RRSP to put towards their down
payment. That’s $25,000 per person, so if you’re buying a home with a spouse, you can each
withdraw up to that amount from your retirement savings. First-time homebuyers are also
eligible for a Land Transfer Tax rebate of up to $2,000 from the province, no matter whether
you’re buying a resale home or one that’s newly built.
So if you’re ready to become a homeowner, jump right in – with a real estate professional at your
side to help make the process much less daunting. You can find a roster of members of the Ottawa Real Estate Board at www.OttawaRealEstate.org. Or call/email Ian Ponting. 613-222-2662 or ian@royallepage.ca
The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the January 21, 2010 issue of the EMC community newspapers
can be a time-consuming effort. Determining what kind of home you want, figuring out your
budget, investigating neighbourhoods, searching for homes that interest you, booking
appointments, visiting Open Houses, and arranging financing can seriously eat into your spare
time (and your not-so-spare time, for that matter). It can be a daunting prospect, especially for
first-time buyers.
Working with a real estate professional can simplify your home-buying process immensely. Here
are just a few of the things that he or she will look after on your behalf:
• finds homes that meet your needs and wants
• arranges viewing appointments and accompanies you to showings
• provides you with information about comparable properties so you get a clearer picture of
what you should expect to pay for a given home
• when you’re ready, writes up your offer and presents it to the sellers
• negotiates on your behalf to reach an agreement
Think of these as things you could do on your own, but that would take up a lot of your time and
energy and might not be things you feel comfortable doing. Real estate professionals are welleducated
about the laws governing the sale and purchase of real property, and many of us focus
specifically on working with buyers. We can help you get from the start of your home search to
the closing date smoothly and efficiently.
While you’re in the process of buying that first home, it’s important to take a hard look at your
budget and lifestyle when determining how much you spend on it. Be realistic. Leave room in
your monthly budget for emergencies and small luxuries. That may mean buying a different
home than the one you’ve always envisioned, but how many of us want to be so “house poor”
that we can’t afford occasional treats like dinner out or a new pair of shoes? There are plenty of
well-appointed homes at many different price points in and around Ottawa, and a real estate
professional can help you find the ones that fit your budget. Remember to also plan for closing
costs, new furniture and any appliances or renovations your new abode might need. Your real
estate professional can help you figure out how much to set aside for these items.
You can also take advantage of tools such as the federal Home Buyer’s Plan, which allows firsttime
homebuyers to withdraw up to $25,000 from their RRSP to put towards their down
payment. That’s $25,000 per person, so if you’re buying a home with a spouse, you can each
withdraw up to that amount from your retirement savings. First-time homebuyers are also
eligible for a Land Transfer Tax rebate of up to $2,000 from the province, no matter whether
you’re buying a resale home or one that’s newly built.
So if you’re ready to become a homeowner, jump right in – with a real estate professional at your
side to help make the process much less daunting. You can find a roster of members of the Ottawa Real Estate Board at www.OttawaRealEstate.org. Or call/email Ian Ponting. 613-222-2662 or ian@royallepage.ca
The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the January 21, 2010 issue of the EMC community newspapers
Tuesday, January 26, 2010
January 2010 Newsletter-
Click here for my first Newsletter of 2010:
http://www.royallepagemc.ca/11/20911/272327/272327.html
http://www.royallepagemc.ca/11/20911/272327/272327.html
Thursday, January 07, 2010
Royal LePage Press Release-
CANADA’S REAL ESTATE MARKET EXPECTED TO CONTINUE STRONG GAINS INTO THE FIRST HALF OF 2010
Demand and supply finding balance in the second half of the year
TORONTO, January 7, 2010 – Canada’s residential real estate market is forecast to remain unusually strong through the first half of 2010 as economic conditions across the country improve and the stimulus impact of low interest rates continues to stoke demand, according to today’s Royal LePage House Price Survey and Market Survey Forecast. As confidence in the recovery builds in early 2010, increases in average house price levels and overall market activity are expected to continue. The gradual erosion of affordability driven by higher house prices and the expected late-year modest upward movement of interest rates, together with an improvement in listings supply as confidence improves, are expected to bring the market back into balance in the second half of the year, when home price increases are expected to moderate.
“The Canadian real estate market enters 2010 with considerable momentum from a unusually strong finish to the previous year, said Phil Soper, president and chief executive, Royal LePage Real Estate Services. “The stimulus effect of low borrowing costs has contributed to a sharp rise in demand that has driven activity levels to new highs. This demand, coupled with a typical seasonal undersupply of homes for sale, should cause home prices to continue to appreciate significantly during the early months of the year. Improving supply as the year unfolds and easing demand as the cost of home ownership rises should moderate home price increases in the second half of 2010.”
In contrast to the difficult months during the worst of the recession, house prices appreciated during the later part of 2009, with fourth quarter price averages surpassing averages from the fourth quarter 2008. The average price of detached bungalows rose to $315,055 (up 6.0%), the price of standard two-storey homes rose to $353,026 (up 5.2%), and the price of a standard condominium rose to $205, 756 (up 6.4%). The first two quarters of 2009 saw significant year-over-year price declines across the housing types surveyed and the third quarter provided the first signs saw a strong rebound in Canadian home values.
Regions that saw the strongest declines during the recession are now showing marked gains. Those regions include Toronto and the Lower Mainland, B.C. Vancouver in particular experienced a robust quarter, with home prices rising across all housing types surveyed.
“No other sector of the economy has been as highly affected by economic stimulus as housing,” commented Soper. “As consumer confidence has improved, Canadians have shown a lingering reluctance to acquire depreciating assets such as consumer durables, but have embraced the opportunity to invest in real property. Predictably, the regions benefiting most from this renewed interest in home ownership are those with lower average house prices and strong economic confidence, such as Winnipeg and parts of Atlantic Canada.”
Soper added, “Our forecast is built upon an expectation that interest rates will ease upward before the year’s end, which should have a dampening effect on demand, allowing it to come into balance with the supply of resale homes on the market. Further, we expect to see an increasing number of homes listed for sale as the year progresses – as Canadians regain confidence in the economy, they should be more willing to enter into a large financial transaction such as the sale of a home.”
REGIONAL MARKET SUMMARIES
Halifax saw varied gains across all surveyed housing types in comparison to fourth quarter 2008. Notably, more affordable homes posted the highest price increases due to the influx of workers returning from Western Canada.
Montreal saw strong gains this quarter as year-over-year price levels rose across all three housing types surveyed. Recent increases in demand have resulted in lower than normal inventory levels. Inventory levels are expected in increase in 2010. Continued demand is expected to result in moderate price levels.
House price levels in Ottawa are moderately higher this quarter compared to fourth quarter 2008 across all housing types surveyed. Fourth quarter sales activity did not slow as expected, and the demand has resulted in higher incidences of sellers receiving multiple offers, an unusual occurrence in end of year activity for this region. While inventory levels are low and there is competition among home buyers, this may abate as the government eases economic stimulus in 2010.
The Toronto market saw year-over-year price increases across the housing types surveyed in the fourth quarter. Of particular interest is the increase in sales of higher-priced units, which were hit hard by the recession over the previous 12 months. There was a surge of first-time buyers active in the market last year, depleting the inventory of entry-level units. They are expected to be joined by move-up, executive, and luxury buyers in the coming year, resulting in additional price appreciation.
Winnipeg saw some of Canada’s largest home price increases this quarter. More than one third of homes sold in the region went for above their asking price driven largely by first time buyer activity. This strong growth is expected to continue well into 2010.
Inventory levels in Regina are low, as much as thirty per cent lower than expected for this time of year; this situation should be corrected in the spring of 2010. House prices should continue to increase into 2010, driven by labour force growth in the construction industry.
Price levels in Calgary remain constant as the market is correcting from the record growth seen in the middle of the previous decade. Inventory levels are one quarter the levels seen in 2008, and the reduction in choice has delayed purchases. Activity and price levels are expected to increase modestly in 2010.
House price levels in Edmonton are also still correcting from the 2005 to 2007 boom. Low inventory levels have provided some price support, and activity is expected to increase in the spring of 2010.
Vancouver saw significant gains in price levels, with average increases of approximately ten per cent across the housing types surveyed. Inventory levels are beginning to decrease, and there has been an increase in sales involving multiple offers. Sales activity may drop off due to the city’s focus on the Olympics in the first quarter, but the market is expected to be robust for the remainder of the year.
Royal LePage’s quarterly House Price Survey (Q4 2009) shows the annual change of prices for key housing segments in select national markets. Click here to view the chart (.PDF).
The Royal LePage Survey of Canadian House Prices is the largest, most comprehensive study of its kind in Canada, with information on seven types of housing in over 250 neighbourhoods from coast to coast. This release references an abbreviated version of the survey, which highlights house price trends for the three most common types of housing in Canada in 80 communities across the country. A complete database of past and present surveys is available on the Royal LePage Web site at www.royallepage.ca. Current figures will be updated following the complete tabulation of the data for the fourth quarter. A printable version of the fourth quarter 2009 survey will be available online on February 5th, 2010.
Housing values in the Royal LePage Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts. Historical data is available for some areas back to the early 1970s.
About Royal LePage
Royal LePage is Canada’s leading provider of franchise services to residential real estate brokerages, with a network of nearly 14,000 real estate professionals in over 600 locations across Canada. Royal LePage believes in the importance of giving back to the community and is the only Canadian real estate company to have its own charitable foundation. The Shelter Foundation is dedicated exclusively to funding women’s shelters and violence prevention and education programs. Royal LePage is managed by Brookfield Real Estate Services, and is part of a brand family that includes Royal LePage, Johnston and Daniel, and La Capitale Real Estate Network. An affiliated company, Brookfield Real Estate Services Fund, is a TSX listed income trust, trading under the symbol “BRE.UN.”
For more information visit www.royallepage.ca.
For further information, please contact:
Tammy Gilmer
Director, Public Relations and National Communications
Royal LePage Real Estate Services
416-510-5783
David Kaiser
Senior Vice President
Fleishman-Hillard Canada
416-645-3682
Canadian Housing Trends - 2010 Royal LePage Market Survey Forecast (.PDF)
Royal LePage Q4 2009 House Price Survey (.PDF)
Royal LePage Q4 2009 House Price Survey - Map Format (.PDF)
Printable version of this release (.PDF)
Demand and supply finding balance in the second half of the year
TORONTO, January 7, 2010 – Canada’s residential real estate market is forecast to remain unusually strong through the first half of 2010 as economic conditions across the country improve and the stimulus impact of low interest rates continues to stoke demand, according to today’s Royal LePage House Price Survey and Market Survey Forecast. As confidence in the recovery builds in early 2010, increases in average house price levels and overall market activity are expected to continue. The gradual erosion of affordability driven by higher house prices and the expected late-year modest upward movement of interest rates, together with an improvement in listings supply as confidence improves, are expected to bring the market back into balance in the second half of the year, when home price increases are expected to moderate.
“The Canadian real estate market enters 2010 with considerable momentum from a unusually strong finish to the previous year, said Phil Soper, president and chief executive, Royal LePage Real Estate Services. “The stimulus effect of low borrowing costs has contributed to a sharp rise in demand that has driven activity levels to new highs. This demand, coupled with a typical seasonal undersupply of homes for sale, should cause home prices to continue to appreciate significantly during the early months of the year. Improving supply as the year unfolds and easing demand as the cost of home ownership rises should moderate home price increases in the second half of 2010.”
In contrast to the difficult months during the worst of the recession, house prices appreciated during the later part of 2009, with fourth quarter price averages surpassing averages from the fourth quarter 2008. The average price of detached bungalows rose to $315,055 (up 6.0%), the price of standard two-storey homes rose to $353,026 (up 5.2%), and the price of a standard condominium rose to $205, 756 (up 6.4%). The first two quarters of 2009 saw significant year-over-year price declines across the housing types surveyed and the third quarter provided the first signs saw a strong rebound in Canadian home values.
Regions that saw the strongest declines during the recession are now showing marked gains. Those regions include Toronto and the Lower Mainland, B.C. Vancouver in particular experienced a robust quarter, with home prices rising across all housing types surveyed.
“No other sector of the economy has been as highly affected by economic stimulus as housing,” commented Soper. “As consumer confidence has improved, Canadians have shown a lingering reluctance to acquire depreciating assets such as consumer durables, but have embraced the opportunity to invest in real property. Predictably, the regions benefiting most from this renewed interest in home ownership are those with lower average house prices and strong economic confidence, such as Winnipeg and parts of Atlantic Canada.”
Soper added, “Our forecast is built upon an expectation that interest rates will ease upward before the year’s end, which should have a dampening effect on demand, allowing it to come into balance with the supply of resale homes on the market. Further, we expect to see an increasing number of homes listed for sale as the year progresses – as Canadians regain confidence in the economy, they should be more willing to enter into a large financial transaction such as the sale of a home.”
REGIONAL MARKET SUMMARIES
Halifax saw varied gains across all surveyed housing types in comparison to fourth quarter 2008. Notably, more affordable homes posted the highest price increases due to the influx of workers returning from Western Canada.
Montreal saw strong gains this quarter as year-over-year price levels rose across all three housing types surveyed. Recent increases in demand have resulted in lower than normal inventory levels. Inventory levels are expected in increase in 2010. Continued demand is expected to result in moderate price levels.
House price levels in Ottawa are moderately higher this quarter compared to fourth quarter 2008 across all housing types surveyed. Fourth quarter sales activity did not slow as expected, and the demand has resulted in higher incidences of sellers receiving multiple offers, an unusual occurrence in end of year activity for this region. While inventory levels are low and there is competition among home buyers, this may abate as the government eases economic stimulus in 2010.
The Toronto market saw year-over-year price increases across the housing types surveyed in the fourth quarter. Of particular interest is the increase in sales of higher-priced units, which were hit hard by the recession over the previous 12 months. There was a surge of first-time buyers active in the market last year, depleting the inventory of entry-level units. They are expected to be joined by move-up, executive, and luxury buyers in the coming year, resulting in additional price appreciation.
Winnipeg saw some of Canada’s largest home price increases this quarter. More than one third of homes sold in the region went for above their asking price driven largely by first time buyer activity. This strong growth is expected to continue well into 2010.
Inventory levels in Regina are low, as much as thirty per cent lower than expected for this time of year; this situation should be corrected in the spring of 2010. House prices should continue to increase into 2010, driven by labour force growth in the construction industry.
Price levels in Calgary remain constant as the market is correcting from the record growth seen in the middle of the previous decade. Inventory levels are one quarter the levels seen in 2008, and the reduction in choice has delayed purchases. Activity and price levels are expected to increase modestly in 2010.
House price levels in Edmonton are also still correcting from the 2005 to 2007 boom. Low inventory levels have provided some price support, and activity is expected to increase in the spring of 2010.
Vancouver saw significant gains in price levels, with average increases of approximately ten per cent across the housing types surveyed. Inventory levels are beginning to decrease, and there has been an increase in sales involving multiple offers. Sales activity may drop off due to the city’s focus on the Olympics in the first quarter, but the market is expected to be robust for the remainder of the year.
Royal LePage’s quarterly House Price Survey (Q4 2009) shows the annual change of prices for key housing segments in select national markets. Click here to view the chart (.PDF).
The Royal LePage Survey of Canadian House Prices is the largest, most comprehensive study of its kind in Canada, with information on seven types of housing in over 250 neighbourhoods from coast to coast. This release references an abbreviated version of the survey, which highlights house price trends for the three most common types of housing in Canada in 80 communities across the country. A complete database of past and present surveys is available on the Royal LePage Web site at www.royallepage.ca. Current figures will be updated following the complete tabulation of the data for the fourth quarter. A printable version of the fourth quarter 2009 survey will be available online on February 5th, 2010.
Housing values in the Royal LePage Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts. Historical data is available for some areas back to the early 1970s.
About Royal LePage
Royal LePage is Canada’s leading provider of franchise services to residential real estate brokerages, with a network of nearly 14,000 real estate professionals in over 600 locations across Canada. Royal LePage believes in the importance of giving back to the community and is the only Canadian real estate company to have its own charitable foundation. The Shelter Foundation is dedicated exclusively to funding women’s shelters and violence prevention and education programs. Royal LePage is managed by Brookfield Real Estate Services, and is part of a brand family that includes Royal LePage, Johnston and Daniel, and La Capitale Real Estate Network. An affiliated company, Brookfield Real Estate Services Fund, is a TSX listed income trust, trading under the symbol “BRE.UN.”
For more information visit www.royallepage.ca.
For further information, please contact:
Tammy Gilmer
Director, Public Relations and National Communications
Royal LePage Real Estate Services
416-510-5783
David Kaiser
Senior Vice President
Fleishman-Hillard Canada
416-645-3682
Canadian Housing Trends - 2010 Royal LePage Market Survey Forecast (.PDF)
Royal LePage Q4 2009 House Price Survey (.PDF)
Royal LePage Q4 2009 House Price Survey - Map Format (.PDF)
Printable version of this release (.PDF)
Wednesday, January 06, 2010
Real Estate Board News-
President’s Pen: Condo or freehold – what’s right for you?
A weekly President’s Pen article appears in some editions of the EMC community newspapers, under the byline of the current Board President. Here is the latest article:
Anyone who’s ever owned a home will know what those two terms up there in the headline mean. Condominiums include any property, regardless of style, which is registered as a condominium. Freehold properties are those which do NOT have a condominium corporation associated with them. Each property type has its own advantages, and can be the ideal choice for a homeowner, depending on your lifestyle, needs and personality.
Condos, like freehold properties, come in all shapes and sizes, not just apartments: you can find one with a great yard for gardening, an entertainment-sized living room, or extra bedrooms for the grandkids. The main difference between a condo and a freehold property is that with a freehold, the title holder generally owns the property inside and out, including the roof, foundation, and land that the property stands on. With a condo, generally the title holder owns only the interior of his or her unit, as well as a share of any common areas and elements that exist within the corporation description.
Condos generally have a monthly fee associated with them that pays for the upkeep of the common areas, elements and insurance, while freeholds do not. Before you purchase a condo, be sure to investigate what exactly is covered by its fees and investigate the financial health of the Condominium Corporation, as this can differ significantly among condo corporations.
A condo corporation also has the right to create and enforce by-laws (although they must first be approved by the condo owners) governing such issues as pets, noise, and alteration of the common elements.
Condos are great for busy people: if you travel frequently and hate home maintenance (or are simply unable to do it), owning a condo means you may never need to replace a window, shovel snow, mow the lawn or nail down loose shingles. Condos can also be cost-effective for those on a tight budget: they often sell for a lower price than freehold units, and the incremental method of paying for regular maintenance through condo fees is far easier on the pocketbook than coming up with hundreds or even thousands of dollars at once for a maintenance issue.
On the other hand, freeholds are preferred by many people, for a wide variety of reasons. Some people love to spend their weekends working on improving their home, creating gorgeous landscaping, or tackling a “fixer-upper” property. Then there are those who simply don’t want or need the services (from snow removal and grass cutting to fitness rooms and guest suites) that a condo corporation may provide. Freehold owners can do pretty much whatever they want to their home, within the boundaries of zoning and building code requirements. They also have more control over their maintenance expenses, by shoveling their own snow or mowing the lawn themselves, for example.
Whatever type of property you prefer, an experienced real estate professional can help you find the right one for your needs and wants! Check out www.OttawaRealEstate.org for an online roster of Ottawa Real Estate Board members, who would be pleased to help you start your search for a new home.
To view archived articles, click on the Newsletters, Guide & Useful Articles button on Ottawa’s REALTOR Link® home page. From the blue left-hand menu, click on Useful Articles, and you will see a list of the last ten articles. Click “more” to see older articles.
The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the (date) issue of the EMC community newspapers. The date of publication appears in the file name of the article.
A weekly President’s Pen article appears in some editions of the EMC community newspapers, under the byline of the current Board President. Here is the latest article:
Anyone who’s ever owned a home will know what those two terms up there in the headline mean. Condominiums include any property, regardless of style, which is registered as a condominium. Freehold properties are those which do NOT have a condominium corporation associated with them. Each property type has its own advantages, and can be the ideal choice for a homeowner, depending on your lifestyle, needs and personality.
Condos, like freehold properties, come in all shapes and sizes, not just apartments: you can find one with a great yard for gardening, an entertainment-sized living room, or extra bedrooms for the grandkids. The main difference between a condo and a freehold property is that with a freehold, the title holder generally owns the property inside and out, including the roof, foundation, and land that the property stands on. With a condo, generally the title holder owns only the interior of his or her unit, as well as a share of any common areas and elements that exist within the corporation description.
Condos generally have a monthly fee associated with them that pays for the upkeep of the common areas, elements and insurance, while freeholds do not. Before you purchase a condo, be sure to investigate what exactly is covered by its fees and investigate the financial health of the Condominium Corporation, as this can differ significantly among condo corporations.
A condo corporation also has the right to create and enforce by-laws (although they must first be approved by the condo owners) governing such issues as pets, noise, and alteration of the common elements.
Condos are great for busy people: if you travel frequently and hate home maintenance (or are simply unable to do it), owning a condo means you may never need to replace a window, shovel snow, mow the lawn or nail down loose shingles. Condos can also be cost-effective for those on a tight budget: they often sell for a lower price than freehold units, and the incremental method of paying for regular maintenance through condo fees is far easier on the pocketbook than coming up with hundreds or even thousands of dollars at once for a maintenance issue.
On the other hand, freeholds are preferred by many people, for a wide variety of reasons. Some people love to spend their weekends working on improving their home, creating gorgeous landscaping, or tackling a “fixer-upper” property. Then there are those who simply don’t want or need the services (from snow removal and grass cutting to fitness rooms and guest suites) that a condo corporation may provide. Freehold owners can do pretty much whatever they want to their home, within the boundaries of zoning and building code requirements. They also have more control over their maintenance expenses, by shoveling their own snow or mowing the lawn themselves, for example.
Whatever type of property you prefer, an experienced real estate professional can help you find the right one for your needs and wants! Check out www.OttawaRealEstate.org for an online roster of Ottawa Real Estate Board members, who would be pleased to help you start your search for a new home.
To view archived articles, click on the Newsletters, Guide & Useful Articles button on Ottawa’s REALTOR Link® home page. From the blue left-hand menu, click on Useful Articles, and you will see a list of the last ten articles. Click “more” to see older articles.
The President's Pen column was prepared by the Ottawa Real Estate Board and first appeared in the (date) issue of the EMC community newspapers. The date of publication appears in the file name of the article.
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