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,…
DetailsA 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…
DetailsEffective March 17, 2017, Canada Mortgage and Housing Corporation (CMHC) and Genworth Canada are increasing premiums for mortgage loan insurance. The higher premiums will impact homeowners with an insured mortgage with a loan to value greater than 65%. What you need to know – keeping in mind that loans under 80% loan to value…
DetailsFor 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…
DetailsThe 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…
DetailsTORONTO — Ontario is doubling the rebate on the land transfer tax for first-time homebuyers to $4,000 in an effort to help them enter the housing market, but it is raising the same tax on homes that sell for over $2 million. Finance Minister Charles Sousa said first-time buyers won’t pay any land transfer tax…
DetailsThe 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…
DetailsMembers 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,…
DetailsCOMMUNITY. The City of Ottawa will be changing certain street names in the Innes Ward that may be confusing. One of these streets is the portion of Belcourt Blvd. between Jeanne d’Arc and Innes Rd. When thinking about what the new name should be, residents of Belcourt put together a petition to recognize a local…
DetailsMembers 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…
DetailsMembers 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…
DetailsThe 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…
DetailsAugust 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…
DetailsMembers of the Ottawa Real Estate Board sold 1,208 residential properties in March through the Board’s Multiple Listing Service® system, compared with 1,184 in March 2014, an increase of two per cent. The five-year average for March sales is 1,236. “Sales increased month over month, with 356 more properties sold in March over February, a…
DetailsNever miss great tax-time freebies! Here are two tax-time advantages available for upcoming first-time buyers and those who took the plunge in 2014. 1 The 90-day boost. If you’re buying your first home now and it’ll be at least 90 days before your move, let’s talk. The Federal Home Buyers’ Program (HBP) and a tax…
DetailsMembers of the Ottawa Real Estate Board sold 627 residential properties in January through the Board’s Multiple Listing Service® system, compared with 587 in January 2014, an increase of 6.8 per cent. The five-year average for January sales is 633. “The cold weather proved not to be a deterrent for buyers in January,” says President…
DetailsMembers of the Ottawa Real Estate Board sold 640 residential properties in December through the Board’s Multiple Listing Service® system, compared with 609 in December 2013, an increase of 5.1 per cent. The five-year average for December sales is 637. The total number of homes sold through the Board’s MLS® system in 2014 was 13,928,…
DetailsMembers of the Ottawa Real Estate Board sold 893 residential properties in November through the Board’s Multiple Listing Service® system, compared with 888 in November 2013, an increase of 0.6 per cent. The five-year average for November sales is 935. “Sales have been remarkably similar to last year overall, with units sold for the first…
DetailsThe new Ottawa trend of full-service, “live, work, play” neighbourhoods will continue to change the city’s landscape and with it, the commercial real estate market, according to CBRE. In its 2015 outlook released Monday, the company said projects such as Lansdowne Park and Windmill Development Group’s plan for a mixed-use community at the old Domtar…
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