Bathroom décor blues? All it takes is a little creativity to go from drab to fabulous By: Ian Ponting Are you getting that same drab feeling every time you enter your bathroom? Perhaps it’s time to make some changes. Redecorating a bathroom does not always require extensive work or money. In fact, significant changes can be accomplished with just a few accessories and a creative touch. So stop researching contractors, worrying over expensive renovations and fretting about what you’ll do without your bathroom while it is under repair – and consider implementing these quick, inexpensive and imaginative redecoration techniques. A good place to begin is with your bathroom lighting. Adding more light to a room can actually give the illusion that the room is larger than it actually is. One simple way to do this is by increasing the size of the light fixtures. For example, if you have a three light fixture, make your room brighter with a five light fixture, or increase your light bulb size to achieve the desired brightening effect. If there is ample counter space or room for furniture, lighting can be greatly improved with a small table lamp, which also adds elegance and warmth. Furniture usually only works in bathrooms that are large enough to not appear cramped. But if you are blessed with a big bathroom, try moving an old cupboard or chest into an empty corner. It can add style and storage at the same time. A chair or bench also adds panache and functionality to large bathrooms, as it provides the perfect place to sit while manicuring your nails or waiting for a bath to draw. If you have a smaller bathroom, limit the amount of accessories lying around. Storage space is likely a premium, so finding room for a cabinet or a bin is probably impossible. In this case, consider installing a shelf or two on the wall behind your toilet where you can store extra toilet paper and towels, as well as smaller toiletries, like shampoo and hairbrushes. To keep these items organized use display containers, which can often be found in a kitchen. For example, a ceramic jar can hold cotton balls while mugs can be used for holding makeup brushes. Baskets are also great for hiding miscellaneous items. If your bathroom can benefit from a new colour, why not spend a weekend painting. Before you begin, decide if you’ll be matching the wall colour with the rugs and fabrics already in your bathroom, or if you’ll be purchasing new materials. An easy and imaginative alternative to painting is stencilling, which can be done around the ceilings, window areas and mirrors. Artwork can also do wonders to spice up bare bathroom walls. Try some inexpensive framed prints, which can be used to complement any decorating theme. There are an assortment of affordable but luxurious touches that can be added to your bathroom. Radio or compact disc players can be used to play soothing sounds and add tranquility while scented candles can provide a relaxed and refreshing aroma. A built-in hair dryer may at first seem lavish, but think about how much you appreciate it in a hotel restroom and you might find that it is worth the money. So if you feel it is time to give your bathroom a new and improved look, remember that it doesn’t have to include bulldozers and bricks, just a bit of creative thinking.

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How to buy a house and have a life, too Courtesy of the Ottawa Real Estate Board Jan. 21/2010 Anyone who has so much as dipped a toe into the real estate market knows that buying a home can be a time-consuming effort. Determining what kind of home you want, figuring out your budget, investigating neighbourhoods, searching for homes that interest you, booking appointments, visiting Open Houses, and arranging financing can seriously eat into your spare time (and your not-so-spare time, for that matter). It can be a daunting prospect, especially for first-time buyers. Working with a real estate professional can simplify your home-buying process immensely. Here are just a few of the things that he or she will look after on your behalf: • finds homes that meet your needs and wants • arranges viewing appointments and accompanies you to showings • provides you with information about comparable properties so you get a clearer picture of what you should expect to pay for a given home • when you’re ready, writes up your offer and presents it to the sellers • negotiates on your behalf to reach an agreement Think of these as things you could do on your own, but that would take up a lot of your time and energy and might not be things you feel comfortable doing. Real estate professionals are welleducated about the laws governing the sale and purchase of real property, and many of us focus specifically on working with buyers. We can help you get from the start of your home search to the closing date smoothly and efficiently. While you’re in the process of buying that first home, it’s important to take a hard look at your budget and lifestyle when determining how much you spend on it. Be realistic. Leave room in your monthly budget for emergencies and small luxuries. That may mean buying a different home than the one you’ve always envisioned, but how many of us want to be so “house poor” that we can’t afford occasional treats like dinner out or a new pair of shoes? There are plenty of well-appointed homes at many different price points in and around Ottawa, and a real estate professional can help you find the ones that fit your budget. Remember to also plan for closing costs, new furniture and any appliances or renovations your new abode might need. Your real estate professional can help you figure out how much to set aside for these items. You can also take advantage of tools such as the federal Home Buyer’s Plan, which allows firsttime homebuyers to withdraw up to $25,000 from their RRSP to put towards their down payment. That’s $25,000 per person, so if you’re buying a home with a spouse, you can each withdraw up to that amount from your retirement savings. First-time homebuyers are also eligible for a Land Transfer Tax rebate of up to $2,000 from the province, no matter whether you’re buying a resale home or one that’s newly built. So if you’re ready to become a homeowner, jump right in – with a real estate professional at your side to help make the process much less daunting. Call or email Ian Ponting 613-830-3350/613-222-2662 or ian@royallepage.ca

Why Home Insurance Can Help Keep Peace of Mind By Ian Ponting For many families, purchasing home insurance translates into peace of mind. However, selecting the right type of insurance that covers all needs is often a challenge. There are many types of insurance policies available; ranging from a comprehensive policy that covers all risks to “no-frills” policies that provide minimum coverage. Regardless of the policy type, annual costs can be reduced by shopping around and by asking about discounts. In most instances when securing a mortgage, the lender requires that a home become insured as soon as the homeowner takes possession. This is not only to protect the bricks and mortar, but also to ensure that the value of the property remains intact in the event of any damage. A lender may not grant a mortgage if the property is considered uninsurable. Therefore, a home’s wiring, plumbing, roofing etc. must be at a level that is acceptable to the insurance company’s appraiser. Occasionally, the cost of insurance for new homes is lower because the risk of faults developing may be less likely. It is often difficult for homeowners to determine the value of their personal property. Most homeowners seek advice and guidance from an insurance representative, but ultimately it is up to the individual to decide the value of personal possessions for insurance purposes. To help determine the value of personal property, conduct an annual inventory of items. Videotape or photograph the contents of every room in the home or write out a room-by-room list, then assign a value to every item. Include clothing, furniture and artwork, etc. For particularly valuable or fragile items or collectibles, request special coverage. Keep a note of the make, model and serial numbers of items and file receipts for any major purchases such as televisions or video recorders. For safety’s sake, store an annual inventory list off-site (in a safety deposit box or with your insurance broker). It is not wise to under-insure. Instead try to find the right balance, based on a reasonable budget that considers affordability against the items to be insured. Insurance companies charge an annual fee or “premium” for coverage and there are a number of ways to lower the premium. For example, by paying a higher deductible in the event of a claim, premiums will decrease in cost. The deductible is the amount paid for a claim before the insurance company makes the remaining settlement. Some insurance companies offer reduced premiums to seniors or if there are no smokers in the home. Homeowners can also benefit from lower premiums if the property has a monitored security system, smoke alarms or a sprinkler system. A loyalty discount can be realized if the homeowner has maintained a claims-free record for a number of years. Some insurers also offer a discount to members of professional organizations or if more than one policy is purchased. Insurance can be purchased either directly from an insurance company or from an insurance broker. Many large insurance companies sell their own policies directly to the public via advertisements or a 1-800 number. Homeowners deal with an employee or agent of the insurance company who only sell their own company’s policies. Alternatively, a local independent insurance broker can offer a variety of policies and prices from a number of insurance companies and will comparison shop to find the best price for the coverage required. Most of us will never lose our homes or all we own to fire, water or theft, but we know it could happen. Paying an annual insurance premium is a small price to pay for security and peace of mind.

Inventory Increases, Market Balances in June [2010] Source: Ottawa Real Estate Board July 6, 2010 July 6, 2010 : Inventory Increases, Market Balances in June [2010] Members of the Ottawa Real Estate Board sold 1,615 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,897 in June 2009, a decrease of 14.9 per cent. Of those sales, 418 were in the condominium property class, while 1,197 were 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. “For the first time in 2010, inventory increased year-over-year in June, by almost six per cent. The Ottawa housing market is now moving towards balance, rather than the seller’s market we have been in for most of the past year,” said Board President Pierre de Varennes. “Sales last month were very close to the five-year average for June, so what we see here is a return to the stable, steady market conditions that Ottawa tends to experience. Home sale prices continued to grow at a healthy rate in June,” he added. The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $326,572, an increase of 6.4 per cent over June 2009. The average sale price for a condominium-class property was $256,969, an increase of 8.3 per cent over June 2009. The average sale price of a residential-class property was $350,878, an increase of 7.4 per cent over June 2009. The Board cautions that 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. The average sale price is calculated based on the total dollar volume of all properties sold.

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CANADIAN REAL ESTATE ASSOCIATION | May brings lower homes sales and fewer new listings

A bit of a slowdown in May. CANADIAN REAL ESTATE ASSOCIATION | May brings lower homes sales and fewer new listings

Study: Homeownership over the life course of Canadians source: http://www.statcan.gc.ca/daily-quotidien/100607/dq100607a-eng.htm?WT.mc_id=twtB0126 Statistics Canada 1971 to 2006 Homeownership increased quickly with the age of the owners in the period before they reached the age of 40. Thereafter, homeownership continued to climb, though at a slower pace until it reached a plateau as owners neared retirement age. The homeownership rate changed little in the early years of retirement, but started declining when people reached their late 70s. Thus, the majority of seniors continued to receive services associated with homeownership for more than 10 years after the age of 65. This study, based on data from censuses of population conducted between 1971 and 2006, showed a strong consistency in the age profile of homeownership across generations of Canadians. It found that the level at which homeownership plateaued has risen steadily across birth cohorts since the 1970s. The peak level of ownership increased from 73% for those born in the 1910s to 78% for those born during the Second World War. This trend appears to be continuing as the early baby boomer group, those born in the late 1940s and early 1950s, achieved higher ownership rates before age 60 than had earlier generations. Family income has been closely related to both the level of homeownership and the increase in homeownership since 1971. There was a substantial difference in homeownership across income quintiles throughout the period. This difference increased over time, as a result of the fact that the homeownership rate declined for the lowest-income group but rose for higher-income groups. Families with children were the most likely group to own a home in 1971. This trend continued into 2006. However, the difference with other groups in this respect has declined over time. The likelihood of homeownership increased at a greater rate for couples without children and for non-family individuals over this period. The proportion of these two groups in the overall population also increased over this period. These two groups still were less likely to own a home than were couples with children. However, the increase in the ownership rates of these two groups offset the effect of the shifting composition of the overall population to the two groups with lower ownership rates. Owned homes provide shelter and associated local amenities for both owners and non-owners in the same household. Young adults in their 20s and 30s, particular young men, tend to benefit the most from the housing services that derive from homes owned by others, in most cases, their parents. The tendency of adult children to remain living with their parents has increased over the last three decades. Note: This study uses data from eight censuses between 1971 and 2006 to examine the extent to which Canadians of different ages, incomes, and family structures (including couples with and without children) acquire and retain homeownership, particularly after the age of 65. This release uses the term "homeowners" rather than the formal census terminology of "household maintainers". The "household maintainer" variable was used in this study as it is the best available measure of homeownership though in some instances the owner of the dwelling may not be the household maintainer. For example, where adult children are living with their parents, it is possible that the children are the maintainers, but not the owners. Definitions, data sources and methods: survey number 3901. The research paper "Homeownership over the Life Course of Canadians: Evidence from Canadian Censuses of Population," part of Analytical Studies Research Paper Series (11F0019M2010325 free), is now available from the Key resource module of our website under Publications. Similar studies from the Social Analysis division are available at (www.statcan.gc.ca/socialanalysis). For more information, or to enquire about the concepts, methods or data quality of this release, contact Feng Hou (613-951-4337; feng.hou@statcan.gc.ca), Social Analysis Division.

© Copyright 2004 - Ottawa Real Estate Board - All Rights Reserved June 3, 2010 : Slower May after record-setting April: could it be the HST? Members of the Ottawa Real Estate Board sold 1,694 residential properties in May through the Board’s Multiple Listing Service® system compared with 1,967 in May 2009, a decrease of 13.9 per cent. Of those sales, 353 were in the condominium property class, while 1,341 were 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. “Many of the sales that would normally have occurred in May were pulled back to April, due to buyers trying to avoid the May 1st transitional implementation date for the HST, as well as new mortgage regulations that came into effect April 19,” said Board President Pierre de Varennes. “Buyers knew they would be paying eight per cent more for all of the service costs associated with a real estate transaction if their closing date was after July 1, and that it might be more difficult to qualify for financing, so they moved quickly to avoid either situation. In addition, by comparison May 2009 was a record-breaking month as the floodgates opened on pent-up demand following the brief downturn in the market,” he added. The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $333,408, an increase of 6.9 per cent over May 2009. The average sale price for a condominium-class property was $246,116, an increase of 6.4 per cent over May 2009. The average sale price of a residential-class property was $356,387, an increase of 8.3 per cent over May 2009. The Board cautions that 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. The average sale price is calculated based on the total dollar volume of all properties sold. The Ottawa Real Estate Board is an industry association of 2,590 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association. The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.

Hottest April on record for resale housing market Courtesy of the Ottawa Real Estate Board Members of the Ottawa Real Estate Board sold 1,841 residential properties in April through the Board’s Multiple Listing Service® system compared with 1,591 in April 2009, an increase of 15.7 per cent. Of those sales, 425 were in the condominium property class, while 1,416 were 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. “Last month’s sales blew away the record for April, which is always one of the busiest months of the year for our market,” said Board President Pierre de Varennes. “The increased sales activity may be partially due to buyers trying to avoid the impending HST and the mortgage changes that came into effect on April 19, but also demonstrates that consumers feel confident about our local economy,” he added. The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $332,979, an increase of 11.6 per cent over April 2009. The average sale price for a condominium-class property was $254,220, an increase of 17.4 per cent over April 2009. The average sale price of a residential-class property was $356,617, an increase of 11.7 per cent over April 2009. The Board cautions that 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. The average sale price is calculated based on the total dollar volume of all properties sold. The Ottawa Real Estate Board is an industry association of 2,590 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association. The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.

Ottawa housing market soars into spring source: Ottawa Real Estate Board April 7, 201 : Ottawa housing market soars into spring Members of the Ottawa Real Estate Board sold 1,499 residential properties in March through the Board’s Multiple Listing Service® system compared with 1,161 in March 2009, an increase of 29.1 per cent. Of those sales, 327 were in the condominium property class, while 1,172 were 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. “The spring market kicked off early and strong this year, possibly boosted by the unseasonably warm weather and absence of snow in March,” said Board President Pierre de Varennes. “Inventory is still lower than at this time in 2009, but has begun to increase slightly in recent months,” he added. The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $329,767, an increase of 15 per cent over March 2009. The average sale price for a condominium-class property was $240,409, an increase of 15.1 per cent over March 2009. The average sale price of a residential-class property was $354,698, an increase of 15.1 per cent over March 2009. The Board cautions that 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. The average sale price is calculated based on the total dollar volume of all properties sold. The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®. The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.

The real estate industry can change without help from the federal government Vancouver SunFebruary 17, 2010 Almost everyone who has contemplated buying or selling a house has at least a nodding acquaintance with MLS, the Multiple Listing Service system of the Canadian Real Estate Association. Roughly 90 per cent of residential property transactions involve MLS to some degree, mainly because it offers the most comprehensive database of properties for sale in the country. In order for real estate agents to post listings on the MLS system they must be members of the Canadian Real Estate Association (CREA) and pay annual dues. A member -- there are 98,000 of them -- is entitled to use the term Realtor, which is a CREA trademark. A Realtor listing a property on the MLS system must act as agent for the seller. Now, there's nothing wrong with a private club restricting access to its members; however, MLS is no ordinary club. CREA says 465,251 homes were traded through the MLS system in 2009, while the average residential sale price was $320,333. That works out to an annual $149 billion, which is bigger than Canada's petroleum industry. Too big to ignore, the MLS system was targeted by the federal Competition Bureau in 2007. In the bureau's view, CREA's rules regarding the MLS system "prevented or lessened competition" in the market for residential real estate brokerage services, such that brokers wishing to offer fewer services at a reduced cost were unable to do so, limiting consumer choice. Unable to negotiate a settlement with CREA, the bureau has filed a complaint with the Competition Tribunal, which has the power to strike down rules deemed to be in violation of Canada's Competition Act. Among the allegations is that CREA requires those using the MLS system to offer an entire suite of brokerage services at full price, which on average is five per cent of the purchase price, although it varies among local real estate boards. But you won't find such a restriction in CREA's rule book. Instead, you'll find an expectation of high standards of business practice, providing assurance for consumers that services provided will be of a certain quality, and that there is an avenue of recourse if they are not. To be sure, MLS has the appearance of a monopoly. But appearances can be deceiving. The real estate brokerage business is highly competitive and discount brokers, such as One Percent Realty in British Columbia, have been offering an alternative for consumers for many years. If they are breaking the rules, then CREA must be looking the other way. The fact is that new communications technologies and innovative business models are changing the business, without government intervention. CREA will be presenting rule amendments to its membership next month that provide greater flexibility for real estate agents and consumers alike. Soon, we hope more data will be made available to the public, such as sale prices of properties in specific neighbourhoods, and street addresses in those jurisdictions where this information is not yet offered. The liberalization of information and its dissemination through conventional means as well as mobile devices will benefit the industry and consumers. These developments bear a striking resemblance to the restructuring of the financial services industry, where both full-service brokers and discount online brokers have prospered (often under the same corporate umbrella), while consumers have been given a broad range of services and prices. If the Competition Bureau has served as a catalyst to accelerate change in the real estate business, bravo. Now it should step back and let the market finish the job. © Copyright (c) The Vancouver Sun

A Great Start to 2010 for Ottawa’s Housing Market Source: Ottawa Real Estate Board Ottawa, February 3, 2010 : Members of the Ottawa Real Estate Board sold 713 residential properties in January through the Board’s Multiple Listing Service® system compared with 529 in January 2009, an increase of 34.8 per cent. Of those sales, 156 were in the condominium property class, while 557 were 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. “These numbers are more in line with what we might expect for a typical January, whereas 2009 started off abnormally slow due to uncertain financial and market conditions worldwide,” said Board President Pierre de Varennes. “Although listing inventory remains low, we expect that will change as we head into the spring market and interest rates remain low,” he added. The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $320,966, an increase of 11.4 per cent over January 2009. The average sale price for a condominium-class property was $259,273, an increase of 22.5 per cent over January 2009. The average sale price of a residential-class property was $338,244, an increase of 8.2 per cent over January 2009. The Board cautions that 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. The average sale price is calculated based on the total dollar volume of all properties sold. The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®. The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area. Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

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2009 a record year for resale home sales, despite slow start A seller's Market but with the right realtor buyers can satisfy their wants and needs. Ottawa, January 6, 2010 : Members of the Ottawa Real Estate Board sold 689 residential properties in December through the Board’s Multiple Listing Service® system compared with 467 in December 2008, an increase of 47.5 per cent. This brings the total number of residential properties sold through the Board’s Multiple Listing Service® system in 2009 to 14,742, up 7.4 per cent from 2008 and setting a new record. The previous record of 14,565 sales was set in 2007. The average price for all of 2009 was $303,888, an increase of 4.9 per cent over 2008. Of December’s sales, 185 were in the condominium property class, while 504 were 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. “Ottawa’s housing market felt the chill of the global financial crisis last winter, but sales warmed up even before the spring weather arrived, and over the course of the year Ottawa had five record-breaking months of sales. Listing inventory was at a low level throughout 2009, which led to many multiple-offer situations,” said Board President Pierre de Varennes. “Ottawa’s housing market bounced back very strongly from its brief downturn, and we ended the year ahead of the previous annual sales record, which certainly no one expected back in January,” he added. The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $307,807, an increase of 13.1 per cent over December 2008. The average sale price for a condominium-class property was $246,062, an increase of 17.9 per cent over December 2008. The average sale price of a residential-class property was $330,471, an increase of 12.8 per cent over December 2008. The Board cautions that 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. The average sale price is calculated based on the total dollar volume of all properties sold. The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®. The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area. Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

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