October 2017 Market Update

Bruce Brown Market Updates

This month I think that two charts tell the 2017 story on their own, if you read between the lines. In an environment where more people are buying homes and condos than any time in the past 6 years, and simultaneously fewer people are offering their properties for sale, what would you expect to happen to prices? There are times …

Problems With Cash Offers

Rise of the Real Estate Cash Offer Nightmare

Bruce Brown Buying And Selling

Your home hits the market and bam! You receive multiple offers – how excellent is that? And now you have to decide which offer to work with, or to accept. A quick glance reveals that the prices are all very close, the closing dates are all acceptable, and there is little to obviously set one of the offers apart from …

Another Cap Rate Abomination

Bruce Brown Investing

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

Bruce Brown Buying And Selling

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

Bruce Brown Market Updates

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?

Bruce Brown Buying And Selling

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?)

Bruce Brown Market Updates

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

Bruce Brown RED Alert

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

Bruce Brown Buying And Selling

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 …

Best Ottawa Suburb

Suburban Breakdown

Bruce Brown Buying And Selling

If you’re thinking about buying a home in Ottawa’s suburbs, you might have tried to figure out which one is the smartest choice. Obviously there are things that are important to you other than how the market is doing – like where your friends and extended family live, where you’ve lived in the past, and where you work & play. …

Battle of the Suburbs 2016

Battle of The Suburbs 2016

Bruce Brown Buying And Selling, Market Updates

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?

Bruce Brown Buying And Selling, Investing

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 …