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Healthy Homes Renovation Tax Credit

The Healthy Homes Renovation Tax Credit is a permanent, refundable personal income tax credit to assist with the cost of permanent home modifications that improve accessibility or help a senior be more functional or mobile at home. The credit is worth up to $1,500 each year, calculated at 15 per cent of up to $10,000 in eligible home renovation expenses that will help seniors stay safely in their homes. It can also be claimed by senior homeowners and tenants, and people who share a home with a senior relative. What expenses qualify? Some examples of eligible expenses include: • Certain
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You are invited!

On Saturday, February 23rd, I invite you to attend a FREE EVENT! This event is designed to help teach families and their children the key skills needed to EARN, SAVE, and INVEST their money in a fun and entertaining format that is easy to absorb. The ideal age group is from 12 years to 23 years. Save the date! Saturday, February 23rd 10:30-12:30pm Nepean Sportsplex 1701 Woodroffe Avenue To RSVP, email enriched@rlpottawa.com with your name, email address, and the names of all attending.   Watch the video below!
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Check your condo insurance policy!

Condominium owners take note. In most condominiums, there is a blanket insurance policy for the common elements, and the individual unit owner’s policy. An individual owner’s policy should include “chargeback coverage”. Under the Ontario Condominium Act, 1998, a condominium can pass a bylaw to allow the insurance deductibles on the condominium’s blanket insurance policy to be charged back to individual owners where the negligence of those unit owners has caused damage to the common elements. Water damage is a good example. If you leave water running in your unit and it leaks out, causing damage to the common elements, there
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Buying brand new is getting more expensive

Buyers often don’t have the advice of realtors when they are buying from a builder. For this reason, many don’t look closely at the Agreements of Purchase and Sale. Let’s face it – these Agreements have always been one-sided. There are a couple of new things inserted into the standard Agreements recently. Some builders are levying new charges, such as fees to deposit cheques, fees to connect hydro or other utilities, and open-ended clauses that allow them to pass on additional taxes or development fees to the purchaser. If you spot it, you may be able to negotiate a limit
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A thought…

“Behold the turtle. He makes progress only when he sticks his neck out.” – James B. Conant
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CREA Updates Resale Housing Forecast

The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for  2012 and 2013. CREA’s previous forecast predicted generally stable resale housing activity in 2012, with growth in Alberta and Saskatchewan offsetting slight sales declines in British Columbia and Ontario. The revised forecast reflects a stronger than expected acceleration of sales activity in Alberta and Saskatchewan, a slightly faster than anticipated slowdown in British Columbia, and continued buoyancy in Ontario sales activity—specifically the Greater Toronto Area market.
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April sales sailing along through spring

Members of the Ottawa Real Estate Board sold 1,568 residential properties in April through the Board’s Multiple Listing Service® system, compared with 1,530 in April 2011, an increase of 2.5 per cent. April’s sales included 300 in the condominium property class, and 1,268 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. “Sales in April indicate a steady Ottawa market as we
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An interesting article about interest rates…

It’s time to start planning your rising interest rate escape plan. Rates aren’t on the increase just yet. But the Bank of Canada on Tuesday indicated — central banks always indicate, they never say — that economic conditions are improving enough for it to start looking for an opening to raise rates from today’s freakishly low levels. One year from now, it’s quite possible rates will be higher than they are now and climbing. (click here to read the full article, from The Globe and Mail)
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Spring has sprung an increase in residential sales

Members of the Ottawa Real Estate Board sold 1,396 residential properties in March through the Board’s Multiple Listing Service® system, compared with 1,240 in March 2011, an increase of 12.6 per cent. The five-year average for March sales is 1,276.March’s sales included 277 in the condominium property class, and 1,119 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. “Along with the
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Ottawa Real Estate Statistics

The Ottawa Real Estate Board reported on Wednesday that sales increased year over year by 12.6% in March compared to March last year.  Condominium sales were down by 7% while residential class sales were up by 19%.  The average sale price for March was $353,684 which was an increase of 2.1% over March 2011 and was virtually unchanged from February 2012.  There was an increase in new listings taken in the month and the listing inventory is higher than normal. The sales to listing inventory ratio indicates the market has edged just into seller market territory.  Typical of this time
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