Ottawa Canada Home Sales for August 2014-

OTTAWA, September 4, 2014 -

Members of the Ottawa Real Estate Board sold 1,203 residential properties in August through the Board’s Multiple Listing Service® system, compared with 1,216 in August 2013, a decrease of 1.1 per cent. The five-year average for August is 1,199.“As usual, we are seeing a typical end-of-summer slowdown, especially in comparison to July’s record sales,” says Randy Oickle, President of the Ottawa Real Estate Board. “Although sales numbers are down slightly since last year, August’s sales are slightly higher than the five-year average, and continue to be on par with year-to-date sales compared to last year.”August’s sales included 219 in the condominium property class, and 984 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.“Units sold in the residential property class alone, excluding condos, are up four per cent year-over-year. And average sale price has increased for both the residential and condo class,” says Oickle. “If you are planning on buying or selling a home, we encourage you to consult one of our member REALTORS® to get in depth advice on prices in your neighbourhood.” The average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $360,214, an increase of 3.4 percent over August 2013. The average sale price for a condominium-class property was $263,996, an increaseof 2.7 per cent over August 2013. The 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.

“The $300,000 to $399,999 price range continues to have the highest concentration of properties sold,
followed by the $500,000 to $749,999 range – the later range up by 27.4 per cent from last year,” explains Oickle. “This increase may possibly be the contributing factor in the average house price increases this month.”

Published by the Ottawa Real Estate Board September 2014

The Ottawa Real Estate Board is an industry association of over 3,000 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Ontario and Canadian Real Estate Associations. The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. 

How’s the housing market?

 

Article: Courtesy of the Ottawa Real Estate Board

OTTAWA, April 4, 2014 – Members of the Ottawa Real Estate Board sold 1,126 residential properties in March through the Board’s Multiple Listing Service® system, compared with 1,160 in March 2013, a decrease of 2.9 per cent. “Sales picked up month over month, with 256 more properties switching hands in March than in February,” says Randy Oickle, President of the Ottawa Real Estate Board. “That’s  a 29.7 per cent increase, which is to be expected of a spring market.” March’s sales included 230 in the condominium property class, and 896 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.

“A total of 2,776 properties were listed in March, indicating that sellers were getting ready the busy spring market,” explains Oickle. “The average days on market stood at 49 for the month of March, lower than the average of 61 days in January and February, indicating that properties are starting to move faster as we enter the second quarter of 2014.” The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $359,051, an increase of 0.3 per cent over March 2013. The average sale price for a condominium-class property was $251,381, a decrease of 2.1 per cent over March 2013. The average sale price of a residential-class property was $386,690, an increase of 0.2 per cent over March 2013. 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. “It’s a great time to buy or sell real estate,” says Oickle. “

Talk to Ian Ottawa-area REALTOR® with Royal LePage Performance Realty today for help with buying and/or selling a home, and you will have an ally from start to finish, and everything in between.”

 

Hardwood Floors Explained

Thinking about installing wood floors? The first decision you need to make involves the type. According to the National Wood Flooring Association, there are four types:

• Unfinished. This type requires you or your installer to sand and apply a finish. If you want a specific colour or style, or you're trying to match existing flooring, this might be the best option for you.

• Factory finished. As the name suggests, this is flooring that has its finish applied in the factory. Although it is more expensive, factory finished flooring can be installed faster and can be walked upon immediately.

• Solid. This is flooring that is made from a solid piece of wood, top to bottom. The advantage is that it can be sanded and refinished many times over the years, or even decades.

• Engineered. This is flooring that is made of thin layers of wood pressed together. It can be engineered to be very durable and expand and contract less than solid flooring.

The type you choose depends on your needs. Talk to your dealer or contractor about your specific application.

Recognizing potential major expenses in a new home

When you see a new home you like on the market, it's easy to get distracted

by all the features you love – the wrap-around backyard deck or the

spacious rec room with plenty of space for entertaining. You just need to

make sure that in all that excitement you don’t overlook any expensive

maintenance issues that could be just around the corner.

Nothing lasts forever. The major components of every home – from the

furnace to the roof shingles – need to be replaced eventually. Knowing

when such maintenance issues are likely to arise can help you make a

smarter decision about the home you're considering.

How do you do that?

When viewing a property, ask for the age of the major components of the

home, such as the roof shingles, furnace, air conditioner, water heater, and

appliances. Roof shingles may look merely weathered in spots – and you

might think they have years of service left – when, in fact, they're due to be

replaced in a year.

Also pay close attention to the backyard deck, fencing, flooring, and

windows. Do any of those components look aged, worn, and in need of

repair or replacement sometime soon?

Finally, don't forget to check the kitchen and bathrooms. Sinks, faucets,

bathtubs, showers, and cabinetry have a life-span of about 10-15 years.

 

Of course, there are things you can't see, such as wiring, plumbing, venting,

and other components of a property that may require maintenance soon.

That's why it's so important to make any offer to purchase a home

conditional on passing an inspection by a qualified home inspector.

Want more ideas on buying the right home for you? Call or email Ian today
613-222-2662
Ian@royallepage.ca

Light Your Way to a Faster Sale-

 

  

 

Remember the last time you visited an upscale furniture showroom? The

furniture and fixtures on display probably looked great. The colours and

textures jumped out at you. It was a feast for the eyes!

 

There is a good reason for this: Lighting

 

Of course, the quality of the products has a lot to do with how appealing

they look when on display. But smart retailers know that proper lighting is

key to making those products look their best. In fact, some retailers even

hire lighting consultants!

What does this have to do with selling your home quickly, and for the best

price?

 

Obviously, when showing your property to potential buyers, you want your

home to look its very best. Proper lighting can be a big help.

 

When preparing your home for sale, review the lighting in each room and

make sure the space is sufficiently well lit. You want the lighting to be strong

enough to prevent dark or shadowy areas, yet not so strong that it's

uncomfortable for the eyes.

As a rule of thumb, the total wattage of lights in a room should equal the

room's square footage times 1.5. So, if a room is 120 square feet and has

three light sources (ceiling light and two lamps) then the bulbs in each

should be 60 watts.

Pay particular attention to traditionally dark areas, such as the garage,

basement, and closets. Make sure those areas are well lit.

If you have a viewing scheduled during the day, take advantage of natural

light through windows. Open the curtains!

Finally, one of the most important areas is the foyer. Always make sure the

entrance has sufficient lighting. You don't want buyers to think they've

entered the home of classic TV's The Adam's Family!

Want more ideas for preparing your home for sale? Call Ian today.