Monthly Archives March 2018

Buyers Toolkit – Springtime

Buyers Toolkit – Springtime Spring is in the air, and the real-estate market is ramping up for the beginning of buyers’ season.  Things tend to move faster in the spring and houses for sale are often sold shortly after they are listed.  As a potential home buyer, it is important to be prepared as possible before you start looking at potential homes – that way, the chance of losing your “dream home” to another buyer is greatly decreased. You may be wondering … “What are some of the important things that can help you stay on-top of, and ahead of
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A Passing Grade?

In our part of the world, we wait anxiously for the first signs of spring and the joyful thaw that comes with it. Snow melts, the ground thaws, and April showers mean puddles everywhere. All the moisture that spring brings with it can make any drainage problems on your property suddenly seem obvious. Pooling water in your yard or driveway can indicate a problem with grading. Your yard should slope away from your home and drain water out toward the streets and sewers. Five degrees is the ideal slope, very slight to the naked eye, but enough to move water
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Landlords and Legalization: What budding weed laws may mean for Landlords

Landlords and Legalization: What budding weed laws may mean for Landlords With the legalization of marijuana on the horizon, property owners of rental units are wondering what that will mean for them. As all the rules and regulations surrounding cannabis use have yet to be ironed out, it’s only natural that landlords are beginning express concern, or in some cases excitement surrounding the opportunities legalization will present. The legalization of medical cannabis passed in 2001, but as Canada moves forward to legalize the use of cannabis across the country, there are many different views surrounding the changes. With multiple angles to
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Wanted: Ottawa Homes for Sale

Members of the Ottawa Real Estate Board sold 979 residential properties in February through the Board’s Multiple Listing Service System, compared with 1,002 in February 2017, a decrease of 2.3 percent. The five-year average for February sales is 922. February’s sales included 250 in the condominium property class and 729 in the residential property class. There is no doubt our sales numbers would have been much higher if we had more properties available for sale. Buyer demand is there, but our inventory in both residential-class and condos continue to decline. This is creating a supply side issue in the Ottawa
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Spring Cleaning 101: Tips On Getting Your Home Ready For Sale

Spring Cleaning 101: Tips On Getting Your Home Ready For Sale Contrary to years prior, 2018 has presented us with a rather mild, wet March. As such, we’ve barely approached the standard season for “April showers” and have already received enough rain and wet weather to rid most of the snow! The month, however is still young; and, as unpredictable as Mother Nature can be when it comes to delivering cold weather and long winters, we think it’s safe to assume that Jack frost might just bite a time or two more. This said, if you’re in the market to
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Wanted: Ottawa Homes for Sale

Wanted: Ottawa Homes For Sale When the calendar rolled over into 2018 many real estate experts across Canada were speculating the housing market to “cool off” with  tighter mortgage rules and higher interest rates impacting home buyers.  While that may be the case in other real estate markets,  in the Ottawa Real Estate market the biggest factor in February’s 2.8% drop in the number of sales (year over year), is that listing inventory is scarce. “There is no doubt our sales number would have been much higher if we had more properties available for sale.  Buyer demand is there, but our
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Take the Market by Storm this Spring

Spring is often a livelier time of year on the real estate market, as people prepare to move during the warmer months. Since Ottawa is currently experiencing an unusually low inventory of homes for sale, buyers are eagerly awaiting more options to appear in the market this spring. This climate could put you at an advantage as a seller, but only if you take full advantage of the opportunity. Waste no time getting your home ready for the discerning eyes of prospective buyers. Take on any repairs now, before they are pointed out by an home inspector. Start now to
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New Mortgage Rules – Renewing and Refinancing

New Mortgage Rules – Renewing and Refinancing January 1st, 2018 Canada’s new mortgage rules came into effect and it was big news. These new rules appear to have the greatest impact on those looking to qualify for a new mortgage but if you are looking to renew or refinance your mortgage, you may be impacted as well. At the centre of the new rules is a stress test requiring applicants to qualify at a rate at least 2% higher than the rate they will be paying, regardless of the down payment they are making on the home. The new rules
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