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Ottawa – a Real Estate Market to Watch in 2018!

You could be forgiven if you’ve paid no mind to Ottawa’s real estate market as the action in Toronto and Vancouver has stolen the headlines. But those in the know are already seeing Canada’s capital as a market to watch in 2018 and beyond. Bank of Montreal Senior Economist Robert Kavcic wrote the Ottawa real…

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Get Your Home Ready For Fall & Winter

As you and your family enjoy the last days of summer, you might already be anticipating the cold weather that is coming. Many people become so busy with the onset of the school year, or life in general, that cooler air arrives before they are ready for it. That’s why it makes sense to start…

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Ottawa Real Estate Outpacing Toronto!!

Ottawa’s housing market is becoming much livelier with realtors reporting a nearly nine per cent jump in June year over year, in prices and number of transactions alike. The average sale price for residential properties in Ottawa was up 8.8 per cent to reach $434,500 in June, while prices for condominiums surged 9.4 per cent…

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Ottawa Real Estate ready to roll this Spring!

OTTAWA, May 3, 2017 – Members of the Ottawa Real Estate Board sold 1,795 residential properties in April through the Board’s Multiple Listing Service® System, compared with 1,711 in April 2016, an increase of 4.9 per cent. The five-year average for April sales is 1,613. “The April resale market continued its upward trend in units sold,…

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7 things a GREAT realtor will provide with EVERY transaction…

A real estate transaction can be an exciting thing to experience, but it can also be nerve-wracking and stressful. Your experience will largely depend on the circumstances surrounding your transaction and, perhaps more importantly, the agent you’re working with. A great agent will not only get you over the finish line to the best of…

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5 Tips for Buying a Foreclosed Home

For those looking for a deal, distressed and foreclosed properties (called “power of sale” in Ontario) can offer a great opportunity. Lenders are looking to unload the property and will often offer a discount to do so quickly. But the process of buying a foreclosed home can differ a little from traditional home sales. Here are some things…

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Ottawa Interests Rates Unchanged – Bank of Canada

The Bank of Canada announced today that it is holding the benchmark interest rate unchanged at 0.5% with an optimistic outlook, noting that “federal and provincial measures are still expected to support growth in 2017” and predicting “a return to full capacity around mid-2018” as earlier projected in October. The Bank factored in Trump’s tax…

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New Mortgage Rules Coming to Ottawa Real Estate

The Federal Government has announced yet another important mortgage rule change in efforts to cool the housing market by implementing what they call a “stress test”. In other words qualifying for a mortgage just got a whole lot more difficult. Effective October 17th all insured mortgages are required to QUALIFY for their mortgage using the…

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Summer Sales Sizzle in July Ottawa Real Estate!

Members of the Ottawa Real Estate Board sold 1,491 residential properties in July through the Board’s Multiple Listing Service® System, compared with 1,430 in July 2015, an increase of 4.3 per cent. The five-year average for July sales is 1,413. “Sales continue to outpace 2015 numbers both in monthly and year-to-date comparisons,” says Shane Silva,…

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Ottawa resale market eases off with cooler January weather

Members of the Ottawa Real Estate Board sold 601 residential properties in January through the Board’s Multiple Listing Service® system, compared with 626 in January 2015, a decrease of four per cent. The five-year average for January sales is 618. “The market momentum gained from the warmer weather in the latter part of 2015 has…

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Strong December for Ottawa Real Estate

Members of the Ottawa Real Estate Board sold 703 residential properties in December through the Board’s Multiple Listing Service® System, compared with 638 in December 2014, an increase of 10.2 per cent. The five-year average for December sales is 653. The total number of residential and condo units sold through the Board’s MLS® System throughout…

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Risks of Purchasing a Foreclosed Property

The main risk of purchasing a foreclosure property, is that it is purchased on an “as is, where is” basis. Sometimes fixtures such as lights, faucets and cabinets may have been removed from the property or are damaged. The property is often left unclean with unwanted trash and items left behind. An additional risk to…

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Typical summer resale market in Ottawa

  August 6, 2015 – Members of the Ottawa Real Estate Board sold 1,436 residential properties in July through the Board’s Multiple Listing Service® system, compared with 1,440 in July 2014, a decrease of 0.3 per cent. The five-year average for July sales is 1,380. “Last July was the second best on record, and this July…

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