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!
Wednesday, November 24, 2010
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
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