How young home buyers can benefit from Ottawa’s affordability

Mark Mackay and his girlfriend Kristin Renaud have steady jobs, two cars, a dog, and a house about 15 minutes from Ottawa’s downtown core. Despite the generational dread that millennials are doomed to never own homes, the couple has bought a three-bedroom, 2 1/2-bathroom freehold town home adjacent to a specialized public high school in the city’s Urbandale neighbourhood. When they bought two years ago, Mr. Mackay was 29. He and Ms. Renaud have benefitted from the capital-area’s combination of high median incomes and low average home co...

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An Era of Change: 2018

An Era of Change: 2018  Canadian real estate is in an era of change.  2017 closed with a bang, as we saw some of the largest increases in real estate prices in nearly a decade. The curiosity now turns to 2018, and what can we expect to see in Ottawa, and across Canada. Ottawa is climbing the list as a hot spot for home buyers this year, joining popular cities like Toronto, Montreal and Vancouver.  Ottawa may hold an even higher interest for buyers, where real estate prices are significantly lower than areas such as Toronto and Vancouver. The pool of pote...

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‘Shortage’ of homes for sale pushes Ottawa property prices up 6.8% in Q4: Royal LePage

Low inventory levels and a last-minute rush to beat tougher Canadian mortgage rules helped push the average price of a home in Ottawa to $442,533 in the final quarter of 2017, Royal LePage said Wednesday. The real estate firm’s latest house price survey said the average price of a home was up 6.8 per cent, year over year – four percentage points below the national average. New mortgage rules came into effect at the start of this year that require would-be borrowers to show they can withstand a hike in interest rates. John Rogan, the broker of record at R...

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An Era of Change: 2018

An era of change has been on the rise these past few years within the housing market across Canada. As 2017 closed with a bang, we saw some of the largest increases in real estate prices in nearly a decade. The curiosity and concern now turns to 2018, and what can we expect to see in Ottawa, and across Canada. Ottawa is climbing the list as a hot spot for homebuyers this year, joining popular cities like Toronto, Montreal and Vancouver, but holds a higher interest for buyers, as the prices will remain relatively lower than Toronto and Vancouver. The pool...

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A Strong Finish for Ottawa’s Real Estate Market in 2017

2017 was quite a year in the Ottawa Real Estate market; record breaking numbers in units sold (condominium sales up over 22%) and double digit (percentage) increases in average sale price in several neighbourhoods, Canada 150 (or should we say Ottawa 150?!) was anything but average! Below we’ve included the latest news release from the Ottawa Real Estate Board.   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. T...

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Stress tests, foreign buyers and higher rates likely to impact housing market in 2018

New OSFI regulations and a requirement for more open data have changed the rules Real estate was a major topic in the business world in 2017, and with some big changes on the horizon, the subject is likely to dominate headlines again this year. Here are five things to watch in Canadian real estate. Foreign buyers Policy-makers in Toronto and Vancouver have taken steps to try to curb activity in a perceived problem: foreign buyers gobbling up houses as investment vehicles, driving prices up for everybody else. Vancouver slapped a 15 per cent tax on foreig...

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2017 Recap!

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 housin...

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Buying without a Realtor

Buying a house is a big investment, so it is natural to look for ways to save money wherever possible. Some buyers and sellers may assume that they can stretch their budget further if they handle the entire purchase themselves. Doing this may seem like a good way save you money, but can also lead to problems and higher costs in the long run.  As a buyer, hiring a Realtor typically does not cost you a cent; your Real estate agent will be paid from the commission on the sale of the home. Hiring a professional who is on your side to ensure that all your bas...

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Winter: Time to keep the heat IN, and your costs DOWN

As winter begins to cover the ground with snow, we Canadians are aware, there’s much more coming our way than just a light dusting. Shoveling snow, spreading salt, and digging out your frozen car, are just some of the “joys” winter may bring to you this season. As the costs of heat and electricity continue to rise, Jack Frost will be nipping at your pocketbook, wanting to extend his winter chills to the interior of your home. If you’re hoping to keep the cold outside, and your heating costs down, the best thing for you to do is to get your home “Winter R...

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Christmas in the Capital

December has arrived! And with it, for many, comes the anticipation of holiday activities, traditions and celebrating with family and friends. We’ve been lucky to have had some truly incredible events in the Ottawa area this year, but it’s not over yet!   As Canada 150 comes to a close, there are a multitude of Christmas events that are taking place all over our City, allowing us to commemorate the end of one year, and the start of something new with our family and our friends. Here’s a taste of what’s happening in Ottawa this holiday season: Alight at ...

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Ottawa Real Estate Latest Market Snapshot

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 s...

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Ottawa Real Estate Latest Market Snapshot

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 s...

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Royal LePage Team Realty

Chris Nash

Royal LePage Team Realty
384 Richmond Road
Ottawa, ON K2A 0C8
C: (613) 869-NASH (6274)
W: (613) 729-9090
F: (613) 729-9094
Email: chrisnash@royallepage.ca