Archives for Real Estate Information

2017 Recap!

December 21, 2017 | Comments Off

2017 was an amazing year for Real Estate in Ottawa! Records were broken and property values continue to increase. As the year comes to a close, let’s take a look back at some of the highlights with our Top 20 Blog Posts of 2017! #20 – Understanding Multiple Offers This year the Ottawa market became more competitive than ever before and multiple offers have become far more common. Here are some helpful hints to help you navigate multiple offers! #19 – Pets and Real Estate New research emerged this year showing that more and more homeowners are making housing decisions
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Ottawa Real Estate Latest Market Snapshot

December 5, 2017 | Comments Off

It’s hard to believe November is over but here we are! If you’ve been following Ottawa real estate you’ll know it’s been a busy 2017 and December will likely be no exception. With the new mortgage rules coming into play in a few short weeks, many buyers are motivated to have firm deals completed before January 1st, 2017. We’ve included the latest news release from the Ottawa Real Estate Board below. Please note: average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value.
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What Canadian home buyers need to know NOW about the upcoming changes to Mortgage rules

November 24, 2017 | Comments Off

What home buyers need to know before 2018 As of January 1, 2018, Canadian homebuyers will have to meet stiffer requirements in order to qualify for a mortgage with a federally regulated mortgage lender. Why are the Mortgage Rules changing? As Canada’s financial “watchdog” OSFI believes these new rules will decrease the risks for Canadian households with significant debt if and when the interest rates rise. Are you a Confused by the upcoming changes to the mortgage rules? Don’t panic. Our very own Kent Browne, Owner and Broker at Royal LePage Team Realty, sat down with Mortgage Broker York Polk
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Residential Landlord Rules: An Update

November 9, 2017 | Comments Off

Over the past year, there have been many significant changes to the rules for Residential Landlords. These changes may seem overwhelming, but we are here to help; if you have any further questions, do not hesitate to contact a Realtor. Outlined below are the major rule changes as well as an understanding of how they may affect you as either a landlord or a tenant. September 2016 – Terminations for Domestic Abuse New rules have been put in place involving the termination of a lease in the case of domestic abuse. The landlord no longer has the ability to challenge
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Strong Fall Real Estate Market in Ottawa

October 6, 2016 | Comments Off

No fall(ing) back in Ottawa’s resale market: News release from the Ottawa Real Estate Board October 5th, 2016 OTTAWA, October 5, 2016 – Members of the Ottawa Real Estate Board sold 1,371 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,241 in September 2015, an increase of 10.5 per cent. The five-year average for September sales is 1,171. “Again this month, we have broken the record for residential and condominium units sold, with 200 more units sold than the five-year average for September sales,” says Shane Silva, President of the Ottawa Real Estate Board. “With
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Checklist for Home Buyers

September 21, 2016 | Comments Off

When buying a home, there are always a series of questions that run through a home buyer’s mind. At Royal LePage Team Realty, we encourage you to ask them, we try to think of everything for you … including a checklist to keep track of the important details about homes we show you! Of course your Real Estate agent will be there every step of the way to help you find the right home, but falling in love with a property is not the only factor to consider when purchasing a home. We’ve put together a checklist that outlines details that are important to many
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Finding the Best Neighbourhood for Your Family

September 9, 2016 | Comments Off

A row of a new houses in Ottawa, Ontario Buying a home is arguably one of the biggest decisions we will ever make. The process can often seem a little daunting at first, especially for those who are first-time home buyers: where to buy, what neighbourhood, what to buy, when to buy – all relevant ponderings that can (and will) be answered in time, rest assured. Similarly, when it comes time to choosing a home that is best suited for your family, there are also a lot of factors to consider – some of which can seem a little overwhelming.
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Ottawa Real Estate Market Hightlights August 2016

September 7, 2016 | Comments Off

According to recently released statistics by the Ottawa Real Estate Board, August 2016 was a record breaker. 2016 continues to outpace 2015 in number of properties sold! While inventory has dropped compared to this time last year the total number of sales are up and so are average sale prices. With fewer homes for sale in the Ottawa real estate market for buyers to choose from, OREB’s president speculates a Seller’s market may be on the horizon, but only time will tell. While these statistics are helpful in establishing trends there are many factors to consider when buying or selling that
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Ottawa Real Estate News | June 2016 sets record for the highest number of sales ever

July 11, 2016 | Comments Off

WOW what a month in Ottawa Real Estate! Members of the Ottawa Real Estate Board sold 1,985 residential properties in June 2016 through the Multiple Listing Service® setting a record for the highest sales in any month ever in the history of the Ottawa Real Estate Board. While average price dropped slightly in both residential (slight decrease of 1.3% over June 2015) and condominiums (slight decrease of 2.4% over June 2015) the market in Ottawa remains sure and steady. While these statistics are useful in establishing market trends they should not be used as an indicator that specific properties have increased or
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Second-best April on record for Ottawa Real Estate!

May 6, 2016 | Comments Off

April was a busy month in Ottawa Real Estate…see the most recent market highlights below -information provided by the Ottawa Real Estate Board Members of the Ottawa Real Estate Board sold 1,714 residential properties in April through the Board’s Multiple Listing Service® system, compared with 1,567 in April 2015, an increase of 9.4 per cent. The five-year average for April sales is 1,568. “The Ottawa resale market continued its steady pace upwards in April, making it the best April for unit sales on record since 2010,” says Shane Silva, President of the Ottawa Real Estate Board. “Units sold are up
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