Another Cap Rate Abomination

Some day I will have to write the complete story on capitalization rates in real estate. Knowing me, that will be a long article. There are many angles to cover, from its use and mis-use, misunderstanding and misapplication to the basics of what it measures and what it means. Most importantly, I’ll aim to provide a practical guide to help …

Irrevocable Time On Real Estate Offers

Irrevocably Yours – Part 1

The irrevocable time on an offer – what does it mean? If you’re making an offer on a property, what time frame should you set? If you’re selling a property, how should you treat the irrevocable date on offers you receive? Should you state a requirement regarding irrevocable times in your listing? The irrevocable date and time on an Agreement …

2017 Third Quarter Update

Real estate sales in Ottawa for the past 5 or 6 years have been following a consistent pattern. Freehold (* see footnote) home sales were fairly flat, while prices of these single family homes would rise and fall seasonally, with slight increases year over year. Condo sales were sluggish and prices were bumpy overall, with apartment condos falling a few …

Coming Soon Signs

Should Your House Be Coming Soon?

It’s all the rage… the “coming soon” sign on the front lawn. Two of my clients have asked me to put one on their lawn this year while they were preparing their homes to sell. Why did they ask me? The first reason is my fault – I forgot to talk to them about this fad when we were working …

Is Orleans Really Sinking (…and do you want to swim?)

Warning: this article contains locker-room talk. It’s not as bad as Trump’s though. Last night in the locker room after my hockey game (Ligue Bonne Entente de Vanier!) a couple of the guys were asking me about house prices in Orleans this year. They’re under the impression that prices are down – they asked me if the market is sinking. …

RED Alert 19

The subject of this RED Alert is to be taken two ways. Perth is arguably the most charming Town within an hour of Ottawa. Perth is home to the village life that Ottawa’s walking districts work to emulate (Westboro “village”, Beechwood “village”, Old Ottawa South, etc.) In my opinion, and I’m not alone, many Ottawans retiring over the next 10 …

House Price Angst

House Price Angst

Two articles caught my attention today. You’ve probably heard that average home prices in Canada – particularly in Toronto and Vancouver – have been climbing like crazy. One article today covered Moody’s warning about the dire impact of a pending housing correction in Canada. They put us in a bucket with Sweden, Australia, and New Zealand – all four countries …

Battle of the Suburbs 2016

Battle of The Suburbs 2016

People often ask me to confirm what they’ve heard about home sales in each of Ottawa’s major suburban areas comparatively. For the past couple of years, the prevailing belief is that Orleans is sinking (cue The Hip, sans New) while Barrhaven and/or Kanata is/are on the rise. The primary reasons given are the move of RCMP HQ from the Vanier …

Basement Bedroom Window Size

Is That Basement Bedroom Legal?

Basement bedroom window size is an issue that often comes up during home showings and inspections. When buying a home: “Is that bedroom basement legal?” When helping a client prepare to sell their home, the question is, “Can we call this a 3+1 bedroom home?” Does the bedroom in the basement “count”? Is it legal? The answer is… it depends …

Hottest And Coldest Ottawa Neighbourhoods 2015

Hottest and Coldest Ottawa Neighbourhoods 2015

With 2015 in the books, it’s time to have a look at which neighbourhoods saw the most home and condo sales activity. This article looks at where average sale prices rose the most – or fell the most – compared with 2014. Every month the Ottawa real estate board issues a news release with average sale price information and they …

Steve Jobs Crazy & Why Zoocasa Failed

I’ve read quite a few posts on social media this week, mostly from real estate salespersons and brokers, making observations about Rogers Communications’ decision to shut down the “online real estate brokerage” Zoocasa. Most of the observations I’ve read have felt self-serving; not very objective. I believe Zoocasa failed for the same reason that I believe Trulia, Zillow, Xome, Property …