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Shot with our own gun: Proposed new mortgage rules [commentary]

January 24, 2012by Dave Williams Leave a comment

The other startling change is the proposal to count 100% of condo fees towards a buyers debt load, don’t get me wrong, it makes complete sense, it’s just that at this point in the game that moves a large segment of the first time home buyers out of the running.

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Buying a Home

What does a (Home Team Ottawa) REALTOR(r) do for YOU?

January 18, 2012by Dave Williams Leave a comment

What does a REALTOR(r) do for YOU?

Here is a great little video on just a few of the things REALTOR(r) like us can do for you when buying a home when we commit to helping you.

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Buying a Home
Members of the Ottawa Real Estate Board sold 699 residential properties in December through the Board’s Multiple Listing Service® system compared with 618 in December 2010, an increase of 13.1 per cent. The five-year average for December sales is 611. The total number of homes sold through the Board’s MLS® system in 2011 was 14,412, an increase of 1.7 per cent over 2010. The average price for 2011 was $343,701, an increase of 5.2 per cent over 2010. Of December’s sales, 177 were in the condominium property class, while 522 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. “Resale home sales in 2011 were slightly above the five-year average of 14,326, and that’s really the story for the year. The market started off the year quietly, but gained momentum as we headed into spring and summer, losing very little steam during the fall and posting the best November on record, which leaves us with a very solid balance sheet for 2011,” said Past President Joanne Tibbles. “In many ways, it epitomized Ottawa’s real estate market: no dizzying highs, no dramatic lows, just slow and steady growth over the long term,” she added. The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $332,527, an increase of 2.6 per cent over December 2010. The average sale price for a condominiumclass property was $262,514, an increase of 3 per cent over December 2010. The average sale price of a residential-class property was $356,267, an increase of 0.2 per cent over December 2010. 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.

[Infograph] Reviewing Ottawa’s 2011 Real Estate Market

January 13, 2012by Dave Williams Leave a comment

A graphical review of Ottawa’s 2011 Real Estate Market

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Stats

Happy Holidays from Home Team

December 24, 2011by Dave Williams Leave a comment

Wishing you all the best this Holiday season.

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Reccomendation

Million Dollar Home Market Heats Up

December 12, 2011by Dave Williams Leave a comment

The Million Dollar home market in Ottawa in beyond HOT!

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Stats

Who’s buying a house between now and christmas…do they know something you don’t?

December 9, 2011by Dave Williams Leave a comment

So someone asked us the other day “Who’s buying a house between now and christmas…” and on the top of our game we answered:

“It feels like those 400 people know something you don’t…doesn’t it.”

*nod*

“yup”

“Who are they and what do they know?”

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Buying a Home, Selling a Home
90 Gorerge Street, condo 1006 Photo .1 of the outside of the building by the Media Centre

A Look at: 90 George Street, a statistical review.

December 6, 2011by Dave Williams Leave a comment

Every area of the city has its own character, pros and cons, and micro real estate market. So every once in a while we like to delve into the ultra-local […]

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Byward Market & Lower Town, Stats

How’s the Ottawa Real Estate Market, a look at November 2011

December 5, 2011by Dave Williams Leave a comment

Well here we are, December 2011. It’s been a heck of a year in real estate, and like evry month here we are answering the most popular question for real estate agents.

How’s the market?

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Stats

How’s the housing market? November 2011

November 7, 2011by Dave Williams Leave a comment

OTTAWA, November 3, 2011-
Members of the Ottawa Real
Estate Board sold 1,062 residential
properties in October through the
Board’s Multiple Listing Service®

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Stats

What is a special Assessment? [Short Answer]

November 3, 2011by Dave Williams 1 Comment

If at any point in the projection the cash flow dips into the negative the condo board HAS to develop a plan to deal with it, often times this will result in a special assessment,

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Condominium

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