Archives for Real Estate Information

The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care

December 17, 2015 | Comments Off

According to this realtor.com post, the number of real estate appraisers is dropping to the point where parties on both sides of real estate transactions could suffer. Since most residential mortgages need an appraisal before a sale closes, a shortage of appraisers will affect buyers, who rely on accurate valuations to structure their offer, and sellers, who can lose a deal if appraisals come in low. The Appraisal Institute notes the number of appraisers has dropped 20% since 2007 and predicts a 3% annual decline for the next decade. Fewer appraisers means longer waits, which could delay a closing. That
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Ottawa Real Estate Update: November 2015

December 3, 2015 | Comments Off

Mild weather and post-election enthusiasm spurs on home buyers! Statistics are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties. If you are curious about the value of your home and/or specific neighbourhood statistics we would love to help. Contact us. Information below provided by the Ottawa Real Estate Board December 3rd, 2015 Members of the Ottawa Real Estate Board sold 990 residential properties in November through the Board’s Multiple Listing Service® System, compared with 891 in November 2014, an increase of
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Income Properties: What You need to Know about Buying an Investment Property

October 13, 2015 | Comments Off

“Don’t wait to buy land, buy land and wait” – Will Rogers Income Properties: Are you Ready? Owning a rental property may seem like a licence to print money. Interest rates are low, the Ottawa Real Estate Market is stable …what could be easier? Buy a property, lease it, collect cheques and plan your retirement. But…before purchasing an income property, you should be aware of the benefits and drawbacks. Advantages of Income Properties: You pay less tax. Because your secondary property is a business, you can deduct certain expenses from your income (mortgage interest, property taxes, insurance,
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Best September on record for number of Ottawa Real Estate resales!

October 5, 2015 | Comments Off

What a great month for Ottawa Real Estate! See below a snap shot of what’s happening in the Ottawa Real Estate Market from the Ottawa Real Estate Board published October 5th, 2015 Interested in a specific neighbourhood? We have access to all of the latest real estate statistics at our fingertips! Please contact us and we will send you a no-cost report on the areas you want to know about. From OREB news: Members of the Ottawa Real Estate Board sold 1,244 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,131 in September 2014, an increase of
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The Inside Scoop on the Best Season to Sell Your Home

September 15, 2015 | Comments Off

Think you need to wait until Spring to sell your home? You may want to think again if you’re ready to sell now. In this HGTV.com post, Gavin Chen challenges conventional wisdom that the best time to sell is spring and the best time to buy is fall. Statistically, spring has the most competing sellers in the market, so you might have to stage your home to get an advantage. Chen suggests it is important to highlight the sellable features of your home in any season. Although there are fewer buyers in the December – January period (holidays, travel),
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Your Annual Home Maintenance Schedule

September 9, 2015 | Comments Off

Following an annual maintenance schedule is an essential step in protecting the value of what will probably be the largest investment of your life – your home. First time home owners, or those lacking experience may struggle with this task and overlook important elements. Here are some guidelines to help you create a maintenance program that suits your needs. Benefits of Home Maintenance Regular preventive maintenance identifies minor repairs before they become expensive, major repairs. It also preserves your home’s market value. One study found that “greater than $5 return for every $1 spent on preventive maintenance is not unusual”.
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CMHC announces new rules to make it easier for homeowners to rent out property

September 2, 2015 | Comments Off

In this Financial Post article, Garry Marr discusses the impact of upcoming changes from Canada Mortgage and Housing Corp (CMHC) that will permit homeowners to count 100% of the income from their secondary units when qualifying for a loan. Currently, homeowners with legal units can only count 50% of the income from legal rentals. By making it easier to borrow money, Marr suggests CMHC will be bringing more people into the market, and that is expected to boost affordable housing, especially in hot markets like Vancouver where secondary units make up almost 20% of the city’s rental stock. To read
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Should you let children choose their bedroom paint colours?

August 25, 2015 | Comments Off

Should you let children choose their bedroom paint colours? In this Canadian Living post, Brett Walther suggests a way to let your child participate when deciding what colour(s) to paint their room while also avoiding a choice that is unacceptable to you, or one that they will want to change next week. The key is to guide their choice by presenting a few options that appeal to them while also meeting your own criteria. To read more click here. Source: Blog
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Rick Bracken