Ottawa Real Estate Market Update : Low Inventory Continues Into 2018

The Ottawa Real Estate board’s recently released statistics show that home buyers are still actively searching for properties.   Sales were up over 7% (year over year) in spite of the low inventory, which is a trend that is continuing from 2017.  January 2018 listings 994 (RES) and 406 (CONDO) compared with the 5 year 1,396 for residential and 500 for condominiums.   If the decrease in supply in both the residential and condo markets continues into the Spring,  it may put an upward ...

Read More

Winterlude 2018

The Winter months in the Capital are arguably some of the most enjoyable for its residents and their families. Christmas has passed, yuletide memories have been made, and we’ve welcomed the New Year with wide opened arms. And with the anticipation of new beginnings in 2018, we take in a deep breath of fresh, brisk air and bundle up to embrace what this year has to offer; including the great outdoors. In fact, with the many winter-filled activities that our ...

Read More

SPRING into ACTION: Sellers

SELLERS Now’s the time to spring into action if you’re a prospective home seller. Getting your home prepared for the spring market now, will help you move quickly and efficiently  when the time comes to list. Spring is the optimum time to sell a home, as the largest numbers of buyers are actively searching for a new home during the months of April, May, and June. If you’re looking for tips, tricks, and ideas to get your home market ready, ...

Read More

SPRING into ACTION: Buyers

BUYERS Spring hasn’t begun to crack through the winter thaw, but that doesn’t mean there’s time to wait if you’re planning on purchasing a home this spring. Be prepared for the Spring Market, and ensure your home buying experience is a great one by organizing your paper work, mortgages, ideal houses, and pricing ahead of time. Spring into this home-buying season ready to buy, so that house you’ve been dreaming of, doesn’t land in the hands of another buyer. Credit ...

Read More

Moving to Ottawa? The Real Question is "Why Not?"

There’s no doubt about it, Ottawa has topped the list of real estate markets to watch in 2018. With it’s ever growing communities, and variety of opportunities for all ages, Ottawa ranks among the world’s most desirable cities to call home. With is diverse neighbourhoods, excellent education system, distinct seasons, and constant opportunities for entertainment, Ottawa gives individuals lots of reasons why they should move here. The real question is: Why not move to Ottawa? The National Capital city is ...

Read More

An Era of Change: 2018

An Era of Change: 2018  Canadian real estate is in an era of change.  2017 closed with a bang, as we saw some of the largest increases in real estate prices in nearly a decade. The curiosity now turns to 2018, and what can we expect to see in Ottawa, and across Canada. Ottawa is climbing the list as a hot spot for home buyers this year, joining popular cities like Toronto, Montreal and Vancouver.  Ottawa may hold an even higher interest for ...

Read More

A Strong Finish for Ottawa’s Real Estate Market in 2017

2017 was quite a year in the Ottawa Real Estate market; record breaking numbers in units sold (condominium sales up over 22%) and double digit (percentage) increases in average sale price in several neighbourhoods, Canada 150 (or should we say Ottawa 150?!) was anything but average! Below we’ve included the latest news release from the Ottawa Real Estate Board.   Please note: average sale price information can be useful in establishing trends over time but should not be used as an indicator ...

Read More

2017 Recap!

2017 was an amazing year for Real Estate in Ottawa! Records were broken and property values continue to increase. As the year comes to a close, let’s take a look back at some of the highlights with our Top 20 Blog Posts of 2017! #20 – Understanding Multiple Offers This year the Ottawa market became more competitive than ever before and multiple offers have become far more common. Here are some helpful hints to help you navigate multiple offers! #19 ...

Read More

Buying without a Realtor

Buying a house is a big investment, so it is natural to look for ways to save money wherever possible. Some buyers and sellers may assume that they can stretch their budget further if they handle the entire purchase themselves. Doing this may seem like a good way save you money, but can also lead to problems and higher costs in the long run.  As a buyer, hiring a Realtor typically does not cost you a cent; your Real estate ...

Read More

Winter: Time to keep the heat IN, and your costs DOWN

As winter begins to cover the ground with snow, we Canadians are aware, there’s much more coming our way than just a light dusting. Shoveling snow, spreading salt, and digging out your frozen car, are just some of the “joys” winter may bring to you this season. As the costs of heat and electricity continue to rise, Jack Frost will be nipping at your pocketbook, wanting to extend his winter chills to the interior of your home. If you’re hoping ...

Read More

Christmas in the Capital

December has arrived! And with it, for many, comes the anticipation of holiday activities, traditions and celebrating with family and friends. We’ve been lucky to have had some truly incredible events in the Ottawa area this year, but it’s not over yet!   As Canada 150 comes to a close, there are a multitude of Christmas events that are taking place all over our City, allowing us to commemorate the end of one year, and the start of something new with ...

Read More

Ottawa Real Estate Latest Market Snapshot

It’s hard to believe November is over but here we are!  If you’ve been following Ottawa real estate you’ll know it’s been a busy 2017 and December will likely be no exception.  With the new mortgage rules coming into play in a few short weeks, many buyers are motivated to have firm deals completed before January 1st, 2017. We’ve included the latest news release from the Ottawa Real Estate Board below.  Please note: average sale price information can be useful ...

Read More

What Canadian home buyers need to know NOW about the upcoming changes to Mortgage rules

What home buyers need to know before 2018 As of January 1, 2018, Canadian homebuyers will have to meet stiffer requirements in order to qualify for a mortgage with a federally regulated mortgage lender. Why are the Mortgage Rules changing? As Canada’s financial “watchdog” OSFI believes these new rules will decrease the risks for Canadian households with significant debt if and when the interest rates rise. Are you a Confused by the upcoming changes to the mortgage rules? Don’t panic. ...

Read More

Why it doesn’t always PAY to sell your home yourself

With today’s hot real estate market, it may be tempting to consider listing your home yourself, without the assistance of a real estate professional; it is often seen as a way to increase profits since no commission will need to be paid out but in reality, this is not often the case. If you choose to sell your home “For Sale By Owner”(FSBO), there are many factors to consider including additional costs and stress, so it is always advisable to ...

Read More

Residential Landlord Rules: An Update

Over the past year, there have been many significant changes to the rules for Residential Landlords. These changes may seem overwhelming, but we are here to help; if you have any further questions, do not hesitate to contact a Realtor. Outlined below are the major rule changes as well as an understanding of how they may affect you as either a landlord or a tenant. September 2016 – Terminations for Domestic Abuse New rules have been put in place involving ...

Read More

Ottawa Real Estate Update: October Market Snapshot

posted November 2nd, 2017 by the Ottawa Real Estate Board “Leaves may be falling, but the real estate market is not” OTTAWA, Nov. 2, 2017 – Members of the Ottawa Real Estate Board sold 1,243 residential properties in October through the Board’s Multiple Listing Service® System,compared with 1,214 in October 2016, an increase of 2.3 per cent. The five-year average for October sales is 1,165. “As we enter the 3rd quarter of the year, we continue to see the resale ...

Read More

New Mortgage Rules for January 2018

Are you a Canadian homeowner? A first time home buyer? Do you see yourself purchasing a home for your family in foreseeable future? If you’ve answered “yes” to any of these questions, or have considered tapping into the real estate market in the New Year, keep reading! The time has come, once again, for the Canadian mortgage rules to change. Effective January 1st , 2018 the Office of the Superintendent of Financial Institutions (OSFI) will be implementing new mortgage regulations that ...

Read More

Millennials-Turned-Homeowners

Home ownership is something that comes with great pride. And with it being one of, if not, the biggest, most sought-after purchase (and decision) that you will ever make in your years as an adult, it’s recommended that you thoroughly prepare yourself for the emotional and financial attributes that go along with doing so. This said, there are people of every age group and at each stage in their lives that look into the real estate market and agree to ...

Read More

Here’s an Idea of What Goes into Pricing Your Home

So you’ve decided to sell your home and embark in this journey called real estate. And whether this is your first, second, or “I’ve lost count” run of it, there will always be something that will set this particular experience apart from the rest. So what goes into it all? Where does one even begin? Arguably, one of the first and most significant attributes toward successfully selling your home is to determine its price – one that’s realistic, sensible and ...

Read More

Just Another Day in the Life…

Many of you may wonder from time to time what your realtor’s typical day might look like. Truth be told, however, as a realtor, there really is no such thing as a typical day. In reality, days vary, schedules change, appointments pop up, emails come in – and in between it all, they eat and (sometimes) sleep. You see, from the moment your realtor’s alarm goes off in the morning, to the time they go to bed at night, they’re ...

Read More

Ottawa Real Estate Highlights September 2017

“Steady September contributes to strong third quarter for 2017” It’s hard to believe that the fall real estate market has arrived, but here we are in October!  If you’ve been following Ottawa real estate this year you’ll know that it’s been a record breaker, particularly with the number of sales year over year.  According to the Ottawa Real Estate Board statistics;  in 2017 the listing inventory has been lower, average sale prices are steadily increasing, properties are selling faster and ...

Read More

Backup Offers: What They Are and How They Work

The home buying process can be thrilling and exhausting at the same time.  Investing in real estate is something worth waiting, saving and hunting for – not to mention something worth spending time perfecting – but what happens if you find the home of your dreams only to find out that it’s already been snatched up by another buyer? You may feel discouraged, wondering if you’ll ever find another home like that one again. Sound familiar? Well, before you nod ...

Read More

Canada 150: Enjoying the Fall Season

Canada’s 150th milestone is here and in full swing; and what a year it’s been so far! We’ve bundled up as we watched our favourite downhill skaters at Red Bull’s Crashed Ice, cheered on our favourite musical talents at the 2017 Juno Awards, looked up – way up – at those daring enough to eat, drink, and be merry above the cityscape in Ottawa’s very own Sky Lounge, and roared aloud as La Machine walked our city streets. So, what’s ...

Read More

Purchasing a Home in Canada's Best City to Live

We are very fortunate to live in a City that offers economically booming neighbourhoods and family-friendly communities. In Ottawa, there’s bound to be something for anyone and everyone. In fact, according to MoneySense, Ottawa has been ranked Canada’s Best Place to Live in 2017. Why? Well, aside from being home to one of the most respected tech hubs in Canada, having an extremely low-by-comparison unemployment rate of only 5%, and host to some of the greatest, most talented chefs in ...

Read More

Fall Home Maintenance Tips

Fall. Arguably one of the most beautiful times of the year! The weather has cooled and the leaves have begun to change, reminding us that winter isn’t all that far away. Before the snow flies, our homes need a little TLC in order to ensure our warmth and safety over the months – yes, months – of winter. We’ve prepared a few tips on where to begin and what to include in your home maintenance checklist for the fall: Inspect ...

Read More

Get In Touch

Contact Us
By providing your phone number, you are giving explicit consent for us to contact you by phone even if you are listed on the National DNCL

PHONE NUMBERS:

Office Phone: 613.270.8200

Direct: 613.858.1698

erinphillips@royallepage.ca

dhostettler@royallepage.ca

shannon@erinphillips.ca

OFFICE ADDRESS:

Royal LePage Team Realty

555 Legget Drive Kanata Ontario

The trade marks displayed on this site, including CREA®, MLS®, Multiple Listing Service®, and the associated logos and design marks are owned by the Canadian Real Estate Association. REALTOR® is a trade mark of REALTOR® Canada Inc., a corporation owned by Canadian Real Estate Association and the National Association of REALTORS®. Other trade marks may be owned by real estate boards and other third parties. Nothing contained on this site gives any user the right or license to use any trade mark displayed on this site without the express permission of the owner.©Royal LePage TEAM REALTY

Powered by: WEBKITS