Market update! Latest news in Ottawa Real Estate August 2017 Stats

Condo sales help set new record for August unit sales OTTAWA, September 6, 2017 – Members of the Ottawa Real Estate Board sold 1,538 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,481 in August 2016, an increase of 3.8 per cent. The five-year average for August sales is 1,343. “Condo sales continue to strengthen the Ottawa resale market,” says Rick Eisert, President of the Ottawa Real Estate Board. “These numbers also assisted in setting a new ...

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Buying a Home : Accepting Change Outside Your Wishlist

Truth be told, there are a lot of decisions to be made when it comes to purchasing a home. Regardless of where we stand on the home-buying scale – first time homebuyers, second time homebuyers, or those just simply looking to downsize and/or relocate – there are questions to be asked, and answers to be had. Yes, the onset of this process may seem a little daunting at first, however, that very common (and overwhelming) feeling of “where do I ...

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Buying a New Home

Buying a house is a big undertaking, and there are lots of things to consider. The cost of the house is a big factor to think about, but is far from the only thing you should look when it comes time to buy! Something that you may choose to consider when buying a house is looking at ones that are newly built. Whether you choose to buy an older home or a brand new one, a Realtor can help you ...

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The Role of a Realtor – Seller

Selling your home is a big decision, and an emotionally charged one. It can also be a long process, and has many complicated steps to follow in order to ensure everything goes smoothly. Although it is possible to handle all this yourself, it adds stress onto an already stressful time, and can lead to mistakes that cost you thousands of dollars. In order to avoid these risks, many people choose to hire a realtor to sell their home. As in ...

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The Role of a Realtor – Buyers

  Buying a home is one of the largest, and most expensive, decisions you will ever make.  You want to make sure that you have covered all your bases in order to avoid any costly mistakes. One of the best ways to avoid any potential pitfalls on the road to home ownership is to talk to someone who knows that road well, and no one knows it better than a realtor. Hiring a realtor means that you have an expert ...

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Why You Should Check Out That Open House!

Holding an open house is an option taken by many people who are trying to sell their home. Unfortunately, these open houses are sometimes not well attended. This is a shame, because an open house is a great opportunity, even if you are not currently looking to buy a house. Whether you are actively looking for a new place to live, or buying a home is a far-off dream, here are some good reasons to attend an open house: Get ...

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Ottawa Real Estate Market Snapshot July 2017

The latest reports from OREB on the Ottawa Real Estate market show that in many areas the market is showing no signs of a significant summer slowdown.   The condo market continues to gain momentum as is the”lifestyle” market which includes homes over the $750,000 price range.   Average prices are up in most neighbourhoods across the city, with central and central-west neighbourhoods seeing a bigger jump in average sale price as compared to Ottawa east.   Savvy buyers are ...

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Summer Showings

Selling your house can be an exhausting process, and selling during the summer brings its own special challenges. One of the most noticeable is that you may be away on vacation when people want to attend a house showing. Fortunately, you can turn this challenge into an opportunity. If you plan to hold house showings while you are away, the first thing you need to do is ensure that your home is cleaned up. You should go through the house ...

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Reflections on Canada 150

Canada Day is usually a big event in Ottawa; it is the nation’s capital after all, but this year was an even bigger celebration owing to 2017 being the 150th anniversary of Canada’s founding. In order to celebrate this momentous event, Ottawa pulled out all the stops to throw a Canada Day celebration that people won’t soon forget. The public turned out in record numbers to celebrate Canada Day in Ottawa this year, and the celebrations were also awash in ...

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Selling in the Summer

Selling your home in summer? It can be grueling to prepare a house for sale in the summer heat but many experts believe that summer is one of the best times to sell a house. Why?… People are out and about! Summer holidays mean that people have more time to devote to buying a home and, for parents of school age children, moving in the summer offers an easier transition for families changing neighbourhoods/schools. Selling your home in summer may ...

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"a Stellar year so far"…Ottawa Real Estate Snapshot June 2017

We are still seeing lower than normal inventory, more multiple offer situations and fewer days on the market which is good for sellers but with prices remaining “relatively steady”, it is also good news for Buyers.  Check out the highlights below and send us an email to info@teamrealty.ca for details and info on specific properties, we love to chat about real estate! Below is the latest news release from the Ottawa Real Estate Board Members of the Ottawa Real Estate Board sold 2,162 ...

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Summer Fun in Ottawa

After a long and rainy spring, summer is finally upon us in the nation’s capital. Now that the sun has actually come out, it’s time to get outside and enjoy the weather. Whether you live in Ottawa or are just visiting, there are a lot of fun and unique activities to enjoy all throughout the city, and there’s no better time than a warm summer day. The changing of the guard You can watch the changing of the guard any ...

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Understanding Multiple Offers

As Ottawa continues to be a hot market with a low inventory, the number of multiple offer situations seems to be on the rise. When a home goes to “multiple offers”, all offers on the home must be made at a set time and the seller is able to choose which one they would like to go with or negotiate. This can be a complicated situation for buyers and sellers so here is what you can expect. Keep in mind ...

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Buying a Home that is "For Sale By Owner"

A home is likely the biggest purchase of your life so what happens if you find the perfect property but it is “For Sale By Owner” (FSBO)? To avoid surprises, headaches, and extra costs, it is always advisable to work with Buyer’s Agent; just because the seller has opted to go it alone does not mean that you have to! A Buyer’s Agent will represent your best interests through the process and will ensure that you know what you are ...

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Primary Residence Tax Exemption

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

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Ottawa Real Estate Snapshot May 2017

Another record breaking month in the Ottawa Real Estate market with the highest number of properties sold in one month ever recorded! The Ottawa condo market is gaining significant strength, with 44 Condos sold last month, that’s 44.6% more than May 2016.  We are still seeing lower than normal inventory, more multiple offer situations and fewer days on the market which is good for sellers but with prices remaining “relatively steady”, it is also good news for Buyers.  Check out ...

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Why Listing Price is So Important

What is your home worth? This is a tricky question and there are many factors to consider including condition, upgrades, market trends and comparable properties in your neighbourhood.  The listing price of a home can make or break a sale so it is always advisable to work with a real estate professional who will do the research and advise you on the best listing price for your home.  This will  ensure not only that it sells quickly but also for ...

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Canada 150: Let's Celebrate!

Canada Day is coming up, and there is no shortage of celebrations to enjoy on July 1st this year. With Canada turning 150, there’s no better time to join in the festivities. If you are looking for something fun to do this Canada Day with friends and family, here are some suggestions. Downtown Events The Canada Day events hosted in downtown Ottawa are always the biggest and most impressive, and this year looks to be no exception: Parliament Hill – ...

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Spring Gardening 101

May is here, and with all the April showers we’ve seen this year we are sure to see a lot of flowers appearing soon.  Beautiful gardens and thoughtful landscaping can enhance your property’s curb appeal and make spending time outside more enjoyable, but not everyone has a green thumb!  We’ve collected some helpful tips for those who might need a little help. Planning Your Garden You can start planning your garden at any time, but it is best to have ...

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Latest Real Estate Market Snapshot: April 2017

Curious about what’s going on in the Ottawa Real Estate Market?   Below are some highlights of our April 2017 market.  Curious about a certain area?  Please contact us and/or one of our Sales Representatives  for details, we have up to date statistics on all Ottawa neighbourhoods and the surrounding areas. Spring Market Continues to Blossom! News release from the Ottawa Real Estate Board, May 3rd, 2017 OTTAWA, May 3, 2017 – Members of the Ottawa Real Estate Board sold 1,795 residential ...

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Bang For Your Buck: Renos That Will Increase Your Home's Value

If you are a homeowner, you’ve probably spent money on your property over and above the regular carrying costs.  Investing in your  property has the obvious benefits of making your home nicer to live in, but smart renovations can also have the side benefit of increasing a home’s value when it comes time to sell. Below is a list of some of the home renovations that have been shown to add the most to a home’s value, as well as ...

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Choosing a Brokerage to Work For

Have you considered a job in a real estate? Choosing a brokerage to work for can be a daunting process. As one of the largest brokerages in the city, Royal LePage Team Realty has a lot to offer our Realtors. Combine all that we have to offer with the resources provided to all Royal LePage agents in Canada, and you will be supported, trained, and taken care of. Real estate can be both a challenging and dynamic career for people ...

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Choosing a Brokerage when Buying or Selling a Home

When it comes time to buy or sell a home, finding the brokerage to work with is a very important step to take. You need to find a company that will work with you to make this the most positive experience possible. “At Royal LePage Team Realty we commit to delivering high quality, industry leading and innovative real estate products and services on a complete cost-effective basis. Our business relationship will be characterized by the highest degree of honesty, credibility ...

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5 Reasons To Sell Your Home in the Spring

With the busy spring market upon us (it actually started early this year!),  let’s take a look at why this season is often seen as the best time of year to sell a home. With a large percentage of the year’s sales occurring in just a few short months, homes also tend to sell for more and spend less time on the market. And don’t worry, you’re not too late; statistics show that May is the best month of the ...

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Ottawa Real Estate Update | March Goes Out Like a Lion

Second best March on record for units sold, multiple offers, fewer days on the market and the average price for a residential home over $415K , spring has definitely sprung in the Ottawa Real Estate Market! From the Ottawa Real Estate Board April 5th, 2017 OTTAWA, April 5, 2017 – Members of the Ottawa Real Estate Board sold 1,485 residential properties in March through the Board’s Multiple Listing Service® System, compared with 1,160 in March 2016, an increase of 28 per ...

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