Monthly Archives December 2017

2017 Recap!

2017 was an amazing year for Real Estate in Ottawa! Records were broken and property values continue to increase. As the year comes to a close, let’s take a look back at some of the highlights with our Top 20 Blog Posts of 2017! #20 – Understanding Multiple Offers This year the Ottawa market became more competitive than ever before and multiple offers have become far more common. Here are some helpful hints to help you navigate multiple offers! #19 – Pets and Real Estate New research emerged this year showing that more and more homeowners are making housing decisions
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Welcome Guests with a Well-Appointed Guest Room

Hosting friends and family is one of the joys of the season. Preparing in advance can make it less stressful to receive visitors anytime. Whether you have a dedicated guest room or a more improvised arrangement for overnight guests, there are many things you can do to make hosting headache-free for you and your family. Reserve a special set of linens for guests, including towels, washcloths, an extra blanket and pillowcases, and set them aside in a basket or plastic bin so they will stay clean and ready. In the same bin, you might also include back-up toiletries such as
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Buying without a Realtor

Buying a house is a big investment, so it is natural to look for ways to save money wherever possible. Some buyers and sellers may assume that they can stretch their budget further if they handle the entire purchase themselves. Doing this may seem like a good way save you money, but can also lead to problems and higher costs in the long run.  As a buyer, hiring a Realtor typically does not cost you a cent; your Real estate agent will be paid from the commission on the sale of the home. Hiring a professional who is on your
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Neighbourhood Spotlight: Arlington Woods

East of Greenbank and west of Knoxdale Road, just north of West Hunt Club, sits Arlington Woods, a small residential neighbourhood that is part of the larger Trend-Arlington area of western Ottawa. Originally part of the City of Nepean, which amalgamated into the City of Ottawa in 2001, the area was developed by the Campeau Corporation during the 1970’s and 80’s. Arlington Woods was developed later than the rest of the neighbourhood and contains many well-maintained, tudor-style, split-level homes designed during that period. Near the city’s outskirts and with a great deal of green space, this area is excellent or
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New Mortgage Rules for 2018

Starting January 1, new mortgage lending rules will require borrowers to undergo a financial ‘stress test’ to prove they could afford their mortgage if interest rates were to increase. Currently, buyers who provide less than 20% of their purchase price as a down payment are required to insure their mortgages. They must purchase mortgage insurance that protects their lender in case of a default. Those same borrowers are also required to undergo a so-called ‘stress test’ to determine whether they could withstand a substantial rise in interest rates. Under the new regulations, the pool of borrowers who must be tested
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Winter: Time to keep the heat IN, and your costs DOWN

As winter begins to cover the ground with snow, we Canadians are aware, there’s much more coming our way than just a light dusting. Shoveling snow, spreading salt, and digging out your frozen car, are just some of the “joys” winter may bring to you this season. As the costs of heat and electricity continue to rise, Jack Frost will be nipping at your pocketbook, wanting to extend his winter chills to the interior of your home. If you’re hoping to keep the cold outside, and your heating costs down, the best thing for you to do is to get
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November Blues? Not in the real estate market…

Members of the Ottawa Real Estate Board sold 1,239 residential properties in November through the Board’s Multiple Listing Service System compared with 992 in November 2016, an increase of 24.9 percent. The five-year average for November sales is 1,001. The Office of the Superintendent of Financial Institution’s (OSFI) announcement regarding the new stress tests for low-ratio borrowers may have buyers rushing into the market before the stricter mortgage regulations come into play in January 2018. The average sale price of a residential-class property sold in November in the Ottawa area was $418,354, an increase of 3.2 percent over November 2016.
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Christmas in the Capital

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

It’s hard to believe November is over but here we are!  If you’ve been following Ottawa real estate you’ll know it’s been a busy 2017 and December will likely be no exception.  With the new mortgage rules coming into play in a few short weeks, many buyers are motivated to have firm deals completed before January 1st, 2017. We’ve included the latest news release from the Ottawa Real Estate Board below.  Please note: average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value.
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Should You Own A Generator?

Winter is approaching and with it, blizzards, ice storms, and other extreme weather events for which we Canadians ought to be prepared. Even if you live in an urban area with lots of resources and amenities, your family should have an emergency plan in place and an emergency kit on hand that includes everything you would need in the event of a major storm or power interruption. Depending on a number of factors, you might also want to consider investing in a back-up generator. A generator can provide back-up power in the event of a long-term power outage. If such
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