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®).

Click here for my first Newsletter of the year: http://www.royallepagemc.ca/11/20911/272327/272327.html

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®).

Just listed a 2400 square foot two storey with mainfloor den on a large lot. Only $339,900. Hardwood and ceramic including staircase. Roof, some windows, furnace replaced.

Why Home Insurance Can Help Keep Peace of Mind 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. Every effort has been made to ensure the accuracy of this article. However, the information provided is general in nature and those with specific questions should seek professional advice that meets their particular requirements.

How to make a festive Christmas wreath 1)Gather evergreen pieces about 40 cm long. (Be sure to ask permission from landowners first.) Use wire cutters to cut pieces into hand-size lengths. 2)Pile three or four pieces together to be wired to the wreath form. 3)Attach one end of your floral wire to the wreath frame and holding a length of greenery on the front of the frame, wind the floral wire around the end of the boughs and the frame. Don't cut the floral wire. The idea is to use a continuous length of wire to secure the lengths of evergreen to the form. 4)Next, secure a second length of evergreen on the back of the frame, several centimetres further along the wreath form. Tie it in place with the floral wire. 5)Secure a third bunch of greenery on the front, overlapping the first, the fourth on the back, overlapping the second. Continue in this manner until the wreath is complete. 6)Secure the final length of evergreen with an extra twist, and cut floral wire. 7)Trim uneven pieces with wire cutters. 8)Decorate with ribbons, cones, or other items

Sell now avoid the spring rush. Sunridge/Queenswood remains a very attractive area for many buyers. Many owners have in fact done major additions to there homes rather than move away. Setting The Stage To Sell Your home will sell. There’s no question about that – in today’s market or tomorrow’s, good or bad. However, if you put your home on the market without preparing it for sale, you may have a long wait for an offer. You also may not realize your home’s greatest return on investment. You don’t have to turn your pockets inside out to get it ready to sell. Some outlay may be necessary for painting, for replacing worn woodwork, carpeting, cabinet doors, or for repairing broken fixtures or appliances. There are, however, many fix-ups that cost absolutely nothing – except a little time and elbow grease. This fix-ups will make all the difference in whether or not your home makes the most of itself. Here are a few tips for getting your home ready to show itself off to your pocketbook’s best advantage: Outdoors 1. Spruce up all around the house. Keep lawn and shrubbery trimmed and free of bicycles and other clutter. Keep the garden beds weeded and mulched. 2. Put a flowering pot on the front step and keep it watered and trimmed. 3. Fill potholes in your driveway and tidy up walkways. 4. Clean off your outdoor furniture; remove any rust (or toss out the rusted item). 5. Clear out the garage of everything but cars. If yours has become a two-car attic, throw out the excess. 6. Straighten gutters, the mailbox, the fence – and other things that sag. 7. Fix doorbells, tighten loose door-knobs, and oil squeaking hinges. 8. Repair broken windows and shutters. Indoors 9. Clean everything in and out of sight. Shampoo rugs and wax floors. Wash or brush walls. Wash windows and clean blinds and draperies. 10. Weed clutter out of closets and cupboards. 11. Create space by storing some of the extra furniture you’ve found useful (bureaus, bookcases, storage chests, oversized chairs) but which makes a crowded impression. 12. Place the remaining furniture so that traffic can flow easily from room to room. 13. Unless you’re a skilled artist, scale down your personal art work (portraits, landscapes), posters, signs, and family photos, especially in teenagers’ rooms. Create a feeling of spaciousness. 14. Keep shades and draperies open, to admit as much light as possible, but screen out unappealing views. 15. Let your kitchen look warm and welcoming, not a hectic workplace. Keep your sink shining and free of dirty dishes at all times. 16. Organize cupboards. 17. Clean the refrigerator. 18. Keep counter tops clear, but not empty (as if unused); adorn them with your most attractive canisters. 19. Completely degrease your oven. Let the kitchen smell fresh and fragrant (with cinnamon warming in the clean oven, if you have time). 20. Remove debris (dust, flies, moths, etc.) from all light fixtures. 21. Keep bathrooms scrubbed, tidy and equipped with fresh soap and neatly hung towels (matching, if possible). 22. Get rid of all stains and install new washers on dripping faucets. 23. Feature (with lighting or furniture arrangement) your home’s best characteristics (a fireplace, a picture window, a balcony, ceiling beams, a kitchen eating area, etc.) 24. If you’ve repainted (preferably in safe neutral tones), add bold splashes of color (with your brightest throw pillows, crockery, pictures). 25. Place plants in strategic spots in any room – the bigger the more glamorous, if space permits. 26. Light the whole house, especially dark corners and hallways.Hang mirrors where they will reflect outdoor light – as well as make a room look larger.

Brief Update- The Spring selling season is nearly on us. From now to the end of the summer 50% of the total 2009 sales will take place. Already we have seen some early sales in Sunridge, a couple of homes on Wildflower and Leclair have sold. 139 homes sold in 2008 in real estate board areas 1104 and 2011 of which Sunridge is a part. It is expected that fewer homes will sell in 2009.

 

Ottawa Real Estate Board

Residential and Condominium Sales

for August 2008

Sunridge(1104 and 2011)

Number of Homes Sold

 

	AUG./08	AUG./07	YTD/08	YTD/07
Residential	6	13	85	75
Condo.	2	2	28	7

 

 

Average Sold/List $000.

 

AUG./08

AUG./07

YTD/08

YTD/07

Residential

$287/292

$264/270

$285/289

$275/281

Condo.

$182/184

$189/190

$185/188

$186/187

                   

 

                      

 

Average Days on Market

                

	AUG./08	AUG./07	YTD/08	YTD/07
Residential	41	37	28	26
Condo.	14	13	27	26

 

Please note that these are averages and are not meant to reflect the value of homes in Sunridge.

 

Summary:

Fall is on the way list now. Call Ian now.

Ottawa Real Estate Board

Residential and Condominium Sales

for the Year 2007

Sunridge(1104 and 2011)

Number of Homes Sold

	DEC./07	DEC./06	YTD/07	YTD/06
Residential	2	4	95	102
Condo.	0	0	23	37

Average Sold/List $000.

DEC./07

DEC./06

YTD/07

YTD/06

Residential

$333/342

$270/276

$275/280

$261/268

Condo.

-

-

$179/182

$166/169

Average Days on Market

	DEC./07	DEC./06	YTD/07	YTD/06
Residential	24	35	25	31
Condo.	-	-	13	24

Please note that these are averages and are not meant to reflect the value of homes in Sunridge.

Summary:

Residential homes in Sunridge for 2007 on average have sold at over 98% of list price and in 25 days on average. The minimum selling price was $195k for a Townhouse and the maximum selling price was $400k for four bedroom single home.

Sunridge Sales August 2007- Five freehold homes sold in August 2007; the average list price was $262.9k and the average sale price was $258.4k. By way of comparison 1 freehold homes sold in August 2006 with an average list price of $228.9k and an average sale price of $227.0k. Three Condominium homes sold in August 2007 with a average list price of $199.1k and sale price of $198.3k versus 1 home in August 2006 with a list price of $205.5k and a sale price of $200.0k.

Sunridge Sales July 2007- Eight freehold homes sold in July 2007; the average list price was $250.1k and the average sale price was $246.2k. By way of comparison 7 freehold homes sold in July 2006 with an average list price of $256.3k and an average sale price of $251.2k. One Condominium homes sold in July 2007 with a list price of $209.9k and sale price of $204.0k versus 1 home in July 2006 with a list price of $173.9k and a sale price of $167.0k.

Sunridge Sales Statistics-June 2007 Area 1104 One freehold home sold in June 2007; the list price was $269.9k and the average sale price was $268.5k. By way of comparison 7 freehold homes sold in June 2006 with an average list price of $276.7k and an average sale price of $273.0k. 1 Condominium homes sold in June 2007 with a list price of $209.9k and sale price of $202.0k versus 2 home in June 2006 with a list price of $179.9k and a sale price of $178.0k.

May 2007 Sales Statistics- Sunridge-Area 1104- 5 freehold homes sold in May 2007; the average list price was $249.9k and the average sale price was $245.6k. By way of comparison 6 freehold homes sold in May 2006 with an average list price of $278.9k and an average sale price of $271.8k. 1 Condominium homes sold in May 2007 with an average list price of $159.9k and sale price of $158.0k versus 3 homes in May 2006 with an average list of $176.3kand sale of $173.8k.

April 2007 Sales Statistics- 6 freehold homes sold in April 2007 in the Sunridge/Queenswood area with an average list price of $278.9 and sale price of $271.8k. In April 2006 4 homes sold with an average list price of $270.4k and sale price of $266.5k. There were 2 condominium sales in April 2007. Average list price was $175.5k9k and average sale price was $172.5k. In April 2006 2 condominium homes sold with an average list price of $170.7k and sale price of $167.0k. List with Ian now and move in to your new home before Fall.

March 2007 Sales Statistics- Thirteen freehold homes sold in March 2007 in the Sunridge/Queenswood area with an average list price of $258.2k and sale price of $255.1k . In March 2006 fifteen homes sold with an average list price of $233.4k and sale price of $230.8k. Highest March 2007 sale price was $393k. There were three condominium sales in March 2007. Average list price was $163.9k and average sale price was $163.1k. In March 2006 four condominium homes sold with an average list price of $185.9k and sale price of $183.4k. List with Ian now and move in to your new home before summer.

February 2007 Sales Statistics- Five freehold homes sold in February 2007 in the Sunridge/Queenswood area with an average list price of $267.5k and sale price of $263.8k. In February 2006 fourteen homes sold with an average list price of $252.4k and sale price of $245.2k . Highest sale price was $305k. There was one condominium sale in February 2007. Its list price was $199k and its sale price was $192k. In February 2006 four condominium homes sold with an average list price of $163.1k and sale price of $160.0k. List with Ian now and move in to your new home before summer.

January 2007 Sales Statistics- Six freehold homes sold in January 2007 in the Sunridge/Queenswood area with an average list price of $299.9k and sale price of $295.1k. In January 2006 nine homes sold with an average list price of $243.6k and sale price of $238.6k. Highest sale price was $375k. There were no condominium sales in January 2007. In January 2006 three homes sold with an average list price of $159.2k and sale price of $156.7k. List with Ian now and move in to your new home before summer.