This article contains the full set of charts to support my February 2018 email newsletter. If you’re interested in receiving complete monthly Ottawa real estate market analysis, why not sign up and try it out. You can always unsubscribe, and no one will hunt you down to find out why. You’ll find a subscription link at the bottom of this …
Talking about Ottawa condo prices with one of my clients recently, I realised it’s been 6 years since I looked at the average selling price trend for older vs. newer condo apartments in Ottawa. Here’s the article from 2012: Are New or Re-Sale Condos a Better Investment? Fast forward to today; let’s take a look at the average selling price …
Have you read the CBC article from April 25th about Ottawa real estate’s “Perfect Storm” intensifying “Bidding Wars”? I’d like to go through this article and shed some light on a few of the pronouncements it makes. You can read the original article here: CBC Article: Bidding Wars Intensify It’s fun working in real estate because almost everybody finds it interesting …
Law makers are waking up to some of the old school sales tactics that are unfortunately still common in the real estate business. CBC’s Marketplace ran their story (episode 44 – you can Google it if you haven’t seen it) about Realtors in Toronto working both sides of a transaction for the benefit of themselves (and buyer customers or clients) …
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 …
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 …
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 …
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 …
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 …
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 …
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. …
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 …