When it Comes to Offers, it’s Not Always about Price

When considering which of two or more competing offers to accept for your home, there is no doubt price plays a huge role. After all, if Offer #1 is $10,000 higher than Offer #2, that’s an enticing difference that puts thousands of extra dollars in your pocket. However, price isn’t the only thing you should think about when comparing multiple offers. There are other factors you need to consider as well. For example, what conditions are in the offer? If Offer #1 is conditional upon the buyer selling his current property for a specific amount, then what if that doesn’t happen? You could end up with an offer that dies and be forced to list your home all over again. In that circumstance, accepting the lower offer may be your best move. There’s also financing to consider. Most buyers will attach a certificate from their mortgage lender to show that they can afford the home and will likely secure financing with little difficulty. If you get an offer where the ability of the buyer to get financing is in doubt, that’s a red flag. The closing date is another important factor. Offer #1 might propose a closing date that’s perfect for you, while Offer #2 is four weeks later. If you’ve already purchased another home, you might require a month of bridge financing if you accept Offer #2. There’s nothing wrong with that per se, but the costs and additional hassle are factors you should consider. As you can see, assessing competing offers isn’t as easy as it looks. Fortunately, as your REALTOR®, I will guide you toward making the right decision.

CMHC Housing Market Assessment - Canada - Date Released - Second Quarter 2016

Check out CMHC's web site for other major Canadian markets.

Ottawa: Moderate evidence of problematic conditions We continue to detect moderate evidence of overbuilding in Ottawa’s housing market. The number of completed and unsold condo apartment units per 10,000 population has been steadily rising throughout 2015, and rose once more in the fourth quarter, pointing to moderate evidence of overbuilding. The increase in unsold units has been accompanied by rising vacancy rates in primary and secondary rental markets pointing to softer demand conditions. While the number of condo units under construction declined in the fourth quarter, inventory management is still needed until the high number of completed and unsold units is absorbed by the market. Conditions in the market continue to point to weak evidence of overvaluation due to modest price growth despite soft income performance.

March Resale Market Springs into Action-

Article courtesy of the Ottawa Real Estate Board April 20, 2016

OTTAWA, April 19, 2016 - Members of the Ottawa Real Estate Board sold 1,166 residential properties in March through the Board’s Multiple Listing Service® system, compared with 1,200 in March 2015, a decrease of 2.8 per cent. The five-year average for March sales is 1,220.

“We are definitely seeing a resale market increase from the previous month, with 256 more properties sold in March over February,” says President of the Ottawa Real Estate Board, Shane Silva. “Properties are starting to sell faster, indicating that we are heading into our busy spring market.”

 March’s sales included 221 in the condominium property class, and 945 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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.

“In March, 3,203 homes were listed, up 38.6 per cent since February, and inventory on hand at the end of March also rose by 17.5 per cent from last month,” says Silva. “Although there is a slight dip in units sold compared to last year, average price remains steady keeping the Ottawa resale market healthy and strong. Canada’s capital continues to be a great place to buy and sell real estate.”

The average sale price of a residentialclass property sold in March in the Ottawa area was $394,951, an increase of two per cent over March 2015. The average sale price for a condominium-class property was $258,714, an increase of 2.4 per cent over March 2015. 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 hottest segments in our market continues to be in the $300,000 to $400,000 price range, followed by the $200,000 to $300,000 price range,” says Silva. “Residential two-storey and bungalow homes, and one level condo properties have the highest concentration of buyers in March. In addition to residential and condominium sales, OREB Members assisted clients with renting 695 properties since the beginning of the year.”

When Is the Right Time to Talk to a REALTOR®?

When would you talk to a car salesperson?

 Probably only once you’re ready to buy a new car. You would do some initial research (perhaps on the internet), get an idea of what you want, and then go to the dealership to meet a salesperson, test drive the car and make the purchase.

 Although that approach may work when you’re buying a car, it’s not the best approach when it comes to real estate.

 You see, successfully buying or selling a home requires a lot of planning and legwork. You want the process to go smoothly, the right decisions to be made, and the best possible deal to be negotiated.

After all, this is the purchase and/or sale of your home!

 So, the best time to talk to a REALTOR® is as early in the process as possible. In fact, even if you’re just thinking of buying or selling — and simply want to explore the possibility of making a move sometime this year — you should have a conversation with a good REALTOR®.

A REALTOR® will answer your questions, provide you with the information and insights you need, help you avoid costly mistakes, and make sure you’re heading in the right direction.

When you are ready to buy or sell, having worked with a REALTOR® early in the process will help ensure you get what you want.

 So talk to a good REALTOR® when:
 • You have a question about the local market.
 • You want to know what your home might sell for today.
• You’re interested in checking out homes currently available on the market.
• You’re in the midst of deciding whether or not to make a move.
• You’ve decided to buy or sell.

Getting a good REALTOR® on your side early in the game makes everything a lot easier for you.
Looking for a good REALTOR®? Call or email Ian today. 613-222-2662 or ian@royallepage.ca

“Closing Day” Terminology You Need To Know

Closing day is an exciting time. After all, you’re moving into your new home! However, it can be stressful as well. The last thing you need is to be confronted with something you don’t understand. So here is a quick list of common “closing day” terms.
 • Disbursements. This is the allocation of funds to the appropriate parties, such as the seller. Your lawyer will take care of this for you.
 • Possession. This is the moment on closing day when you are legally able to take possession of your new home. It’s usually when your REALTOR® or lawyer hands you the keys.
• Title. This is a legal document that identifies the property and its owner.
 • Closing costs. These are expenses, excluding the selling cost of the property, that are due on closing day, such as legal fees, reimbursement for pre-paid utilities, utility deposits, insurance, and taxes.
• Closing adjustments. These are expenses pre-paid by the seller that need to be reimbursed on closing.
 There may be other terms you come across on closing day as well. Don’t worry, a good REALTOR® can help make the day go smoothly for you and your family. Looking for a good REALTOR®? Call Ian today. 613-222-2662 or ian@royallepage.ca

Ottawa residential real estate market remains relatively flat in the first quarter of 2015-

Canada Newswire – Wed Apr 15 2015, 6:00am ET

Quality listings continue to sell despite a delayed spring market

OTTAWA, April 15, 2015 /CNW/ – The Royal LePage House Price Survey released today saw prices for homes in Ottawa remain flat in the first quarter.

The average price for standard two-storey homes and detached bungalows increased 2.0 per cent and 1.9 per cent year-over-year to $407,000 and $404,167, respectively. Standard condominiums also saw a modest increase in average prices, rising 1.4 per cent to $262,167.

“Similar to last year, we have seen a slow start to the spring market, but quality listings in the right areas are still finding buyers,” said John Rogan, broker of record, Royal LePage Performance Realty. “At quarter end, inventory levels were comparatively low, which suggests a continuation of a balanced market in the months ahead.”

Rogan suggested that the slow start to the spring season could be due to several factors that have inspired inactivity amongst buyers and sellers, including an expectation of interest rate stability, a dreary and prolonged winter, and a looming election scheduled for fall 2015.

Nationally, Canada’s real estate market is experiencing a soft landing, characterized by slower than normal home price increases. Much higher price increases were observed in the country’s two largest urban markets, which combined to send the national average values upwards, partially obscuring the broader national trend.

During the quarter, the average price of a home in Canada rose between 3.8 per cent and 6.6 per cent year-over-year in the first quarter. When broken out by housing type, the survey showed a year-over-year average price increase of 5.3 per cent to $451,463 for standard two-storey homes, while detached bungalows rose 6.6 per cent to $405,895. During the same period, the average price of standard condominiums climbed 3.8 per cent to $261,782.

The steady softening of prices in most markets across the country was first observed in the mid-year 2014 Royal LePage House Price Survey. In recent months, two unanticipated factors disrupted the natural housing price cycle: the steep decline in oil prices late in 2014 and the Bank of Canada’s subsequent reaction in lowering the overnight rate early in 2015.

“Canadian home buyers, with the last decade’s recession still top of mind, have been very sensitive to shifting, broad economic factors. The oil shock has been unsettling for the national economy, consumer confidence and by extension, the housing market,” said Phil Soper, president and chief executive, Royal LePage. “That said, lower prices at the pump and the confidence boosting move by the central bank to lower interest rates have been supportive. With these factors combined, we have a soft-landing for housing after several years of robust expansion. We define a soft-landing as a market in which home prices are flat or increasing slightly, giving the economy and family incomes, a chance to catch up.”

“On balance, we believe we will not be seeing the kind of appreciation observed over the last three years any time soon, as markets work through the current cycle and align with broader economic conditions,” continued Soper. “In terms of downside risk, we do not foresee a sharp decline in home prices, particularly in today’s low interest rate environment.”

About the Royal LePage House Price Survey

The Royal LePage House Price Survey is the largest, most comprehensive study of its kind in Canada, with information on seven types of housing in over 250 neighbourhoods from coast to coast. This release references an abbreviated version of the survey which highlights house price trends for the three most common types of housing in Canada in 90 communities across the country. A complete database of past and present surveys is available on the Royal LePage website at http://www.royallepage.ca( (www.royallepage.ca) ). Current figures will be updated following the complete tabulation of the data for the first quarter of 2015. A printable version of the first quarter 2015 survey will be available online on May 15, 2015. Housing values in the Royal LePage House Price Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts.

About Royal LePage

Serving Canadians since 1913, Royal LePage is the country’s leading provider of services toreal estate brokerages, with a network of over 16,000 real estate professionals in more than 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women’s and children’s shelters and educational programs aimed at ending domestic violence. Royal LePage is a Brookfield Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE.

For more information visit: http://www.royallepage.ca( (www.royallepage.ca) ).

SOURCE Royal LePage Real Estate Services

God Made A Realtor

I attended a Video Training workshop today and was shown this. I'm not certain if this is Paul Harvey Jr. or senior, but it does remind me of Paul Senior's radio spots I first started listening to in University. Watch and enjoy.

https://youtu.be/nXQusdbG4vw

Busy spring season arrives amidst March snow banks

Members of the Ottawa Real Estate Board sold 1,208 residential properties in March through the Board's Multiple Listing Service® system, compared with 1,184 in March 2014, an increase of two per cent. The five-year average for March sales is 1,236.

"Sales increased month over month, with 356 more properties sold in March over February, a 41.8 per cent increase," says David Oikle, President of the Ottawa Real Estate Board. "Indications of a fast approaching spring market were noted in February, and these numbers are proof that Ottawa is indeed experiencing an upswing in sales."

March's sales included 228 in the condominium property class, and 980 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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.

"The average cumulative days on market came in at 83 for the month of March, lower than the average of 99 days in February and 119 days in January indicating that properties are starting to move faster as we enter the second quarter of 2015," explains Oikle. "Year-to-date sales for the first quarter of 2015 are 1.8 per cent higher than the first quarter of 2014. Average sales price has also increased, ever so slightly, by 0.8 per cent. So far, the 2015 resale market in Ottawa remains steady and strong."

The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $361,572, an increase of 0.7 per cent over March 2014. The average sale price for a condominium-class property was $251,666, no change over March 2014. The average sale price of a residential-class property was $387,141, no change over March 2014. While average sale price information can be useful in establishing trends over time, it should not be used as an indicator that specific properties have increased or decreased in value, because the average sale price is calculated based on the total dollar volume of all properties sold.

"The hottest segments of our market in March were sales between $300,000 to $400,000, followed by the $200,000 to $300,000 price range," says Oikle. "Residential two-storey homes continue to be the highest sold property class, followed by bungalows and one-level condos. In addition to residential and condominium sales, OREB members assisted clients with renting 593 properties since the beginning of the year."

Courtesy od the Ottawa Real estate Board

April 8, 2015

Toronto condo market booming again; While banks and other lenders return to the market, the latest wave of completions and sales signals recent lull could be over

The Globe and Mail – Mon Mar 2 2015 Byline:TAMSIN McMAHON After years of slow growth, Toronto’s condo market has come roaring back to life. Builders were putting the finishing touches on nearly 10,400 new condo units in January, eight times more than the monthly average over the past decade, Bank of Montreal senior economist Sal Guatieri said in a report last week. The vast majority of the new condo units have already been sold. Still, the influx of new units has helped push the number of unabsorbed condos – those that have been built but not sold – to a 21-year high. It is a dramatic rise for a city whose condo market has been at the centre of concerns among federal regulators and international organizations such as Deutsche Bank about rising levels of household debt in Canada. The latest wave of Toronto condo completions and sales could mark a new upswing after a lull in the market. Sales hit a fourand-a-half year low last fall, while new condo completions had been falling for the past 18 months. Much of the new supply is the echo of a building boom that began in early 2012, when developers started construction in more than 37,000 new condo units in the city, well above the long-term average of 25,000 units a year. But the January condo boom also reflects the fact that banks and other lenders are returning to the market, now convinced the city’s condo sector isn’t poised for collapse. Under pressure in the past from federal regulators, such as former Bank of Canada governor Mark Carney and former finance minister Jim Flaherty, lenders had largely retreated from Toronto’s condo market, working only with well-known developers and often requiring a high number of presales before they would agree to finance construction. But officials in Ottawa have grown quiet and banks are now eager to fill holes in their loan portfolios, several lenders told a commercial real estate conference last week. “It’s a very competitive market out there,” Frank Margani, executive vice-president of strategy and development at Fortress Real Developments, told the RealCapital forum. “Portfolios are down and everybody is scrambling to get their piece of the action.’ ” Lenders are now willing to finance as much as 75 per cent of the value of a project, up from 70 per cent in recent years, said Chris Milne, vice-president of real estate banking at the Bank of Nova Scotia. Some have also eased up on their presale requirements, typically asking that developers have buyers for at least 65 per cent of their units, confident that builders will eventually find buyers for unsold units. “There’s very little walk-away in the market,” Mr. Milne said. “We’re very different from the U.S. People sign with their name.” With condo projects growing larger, more complex and more expensive, lenders have also been getting more creative about how they finance them, increasingly turning to syndicated loans involving multiple lenders, Mr. Margani said. Still, many say the market doesn’t appear to be headed toward the speculative boom of the past, when prices rose as much as 9 per cent a year, encouraging investors to flip their units for profit. Prices are growing at half that pace today. Investors are now looking to hold onto their units and rent them out and they have established a price ceiling of about $600 a square foot to keep prices from outstripping rent. “It’s actually sort of the magic number for the investors to still be interested,” Mr. Margani said. January’s boom in new condo completions is likely to prove temporary and the numbers of new units should start to fall later this year, predicted Royal Bank of Canada chief Robert Hogue. Even as they are growing more aggressive about lending to the condo industry, banks are becoming more realistic about about where the condo market is headed. “Sales are not what they were in late 2007 when you could sell a high-rise condo in a week it seems,” Mr. Milne said. “Now it takes awhile.”

Solar Power From Your Rooftop

The bandwagon for solar power has been gathering speed lately, thanks to falling installation costs, greater energy saving potential, smaller components, and increased awareness of threats to the environment. In addition, governments are getting on board, with some removing legal and social barriers, or offering rebates for homeowners who install new efficient systems. Depending on your home’s exposure to the sun’s rays as well as the angle of your roof, you can achieve significant energy savings with new models of solar panels, some of which have advantages such as adjustable panels and moveable footings. As a result, homeowners willing to look into solar panel options could be rewarded with a power source that not only can reduce their conventional energy consumption, but also generate extra money (provided their grid is equipped to receive energy and issue rebates).

Your home at a glance

Have you ever driven up to a restaurant and your first impression was disappointing? Perhaps the windows looked dark and gloomy, the façade was worn and unattractive or for some other reason it just didn't look like a tempting place to eat. It could still be a fantastic restaurant – a real gem. But, your first impression has soured your anticipation. If you still walk through the front door, it will likely be with the expectation of being disappointed. This scenario often plays out in the real estate market as well. A buyer drives up to a home for sale and quickly forms an impression based on what he sees "from the curb". That's why you'll hear real estate experts talk about the importance of "curb appeal". It's one of the most important selling points of a property. If you plan to put your home on the market, you obviously want your home to look as attractive as possible from the street. Fortunately, there are many simple things you can do to improve curb appeal. For example, you can trim shrubs and hedges, plant flowers, clean the walkway and driveway, paint the front door and garage door, and clean the exteriors of the windows. All these projects are relatively easy and inexpensive. Yet, each can make a dramatic improvement to how your home looks at first glance. Don't be like the great restaurant that’s hidden behind an unkept façade. Make sure your curb appeal reflects the overall value of your property. Looking for more advice on selling your home quickly and for the best price? Call today.

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.

Making Your Kitchen More Attractive to Buyers-

What's one of the most important rooms in your home? When it comes to
selling your property quickly, and for the best price, the answer is clearly the
kitchen. In fact, one of the most common explanations a particular buyer
gives for not making an offer is, "I liked the house, but I wasn't too keen on
the kitchen."
That doesn't mean you must do a major renovation. However, you should do
what you can to make the kitchen as attractive as possible to buyers.

Here are some ideas:
First, clear the countertops. Put away the toaster and other items. You want
to make the entire countertop area seem as spacious as possible.
If the cabinetry is old, you can spruce it up by installing new knobs, handles
and other hardware. A fresh coat of paint on the walls and ceiling can also
make the kitchen look like it has had a major renovation – and it will only cost
you a few hundred dollars. According to an article on the website HDTV.com,
"The fastest, most inexpensive kitchen updates include painting and new
cabinet hardware."
Replacing the countertops is a more expensive renovation, but it may be
worth it if the current counters are old and worn.
Finally, when preparing your kitchen for a viewing, make sure it's clean and
tidy. The garbage and recycling bins should be empty. Buyers will open
cabinets so make sure items on shelves are neatly organized with the front
labels facing forward.
There are many other ways to make the most important room in your home
look great to potential buyers. Call Ian 613-222-2662 or email ian@royallepage.ca today for more ideas.

Ottawa resale market on the up and up

Courtesy of the Ottawa Real Estate Board

OTTAWA, September 5, 2013 -
Members of the Ottawa Real Estate Board sold 1,219 residential properties in August through the
Board’s Multiple Listing Service® system, compared with 1,145 in August 2012, an increase of 6.5
per cent. The five-year average for August sales is 1,202. “It has been one year since the Canadian Government introduced the new mortgage rules, and although the Ottawa market has been slow moving since the beginning of the year, this month’s numbers are quite the opposite,” says Tim Lee, President of the Ottawa Real Estate Board. “With both residential and condo units sold up a respectable amount since last year, it breaks the downward cycle. In addition, average sale prices softened out in August, creating a welcomed lull in inflating property prices.” August’s sales included 272 in the condominium property class, and 947 in the residential property class.
The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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. The average sale price of residential properties, including condominiums,
sold in August in the Ottawa area was $348,519, a slight increase of 0.4 per cent over August 2012. The average sale price for a condominium-class property was $257,494, a decrease of 5.4 per cent over August 2012. The average sale price of a residential class property was $374,663, an increase of 1.8 per cent over August 2012. 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. “Inventory on hand has decreased since last month, and is starting to return to more normal levels,” says Lee. “Ottawa continues to be a healthy, balanced market, and as always, a great city to live in. With a strengthening economy and historically low interest rates, Ottawa consumers remain in a very enviable position.” Talk to Ian an Ottawa area REALTOR® today for help with buying and/or selling a home.

June sales indicate consistency in the Ottawa market

Ottawa Real Estate Board July 5, 2012

Members of the Ottawa Real Estate Board sold 1,660 residential properties in June through the Board's Multiple Listing Service® system, compared with 1,719 in June 2011, a decrease of 3.4 per cent.

June's sales included 365 in the condominium property class, and 1,295 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.

"Although there is a slight decrease in the number of residential properties sold this June, compared to June 2011, it seems to be the norm throughout the years," says Ansel Clarke, President of the Ottawa Real Estate Board. "For the past 10 years, with the exception of June 2011, sales have consistently and marginally decreased from May to June. This shows stability in the market, and also represents a continued steady market."

The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $352,800, a slight decrease of 0.1 per cent over June 2011. The average sale price for a condominium-class property was $278,447, an increase of 0.8 per cent over June 2011. The average sale price of a residential-class property was $373,756, a slight decrease of 0.4 per cent over June 2011. 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.

Bathroom décor blues?

All it takes is a little creativity to go from drab to fabulous By: Ian Ponting Are you getting that same drab feeling every time you enter your bathroom? Perhaps it’s time to make some changes. Redecorating a bathroom does not always require extensive work or money. In fact, significant changes can be accomplished with just a few accessories and a creative touch. So stop researching contractors, worrying over expensive renovations and fretting about what you’ll do without your bathroom while it is under repair – and consider implementing these quick, inexpensive and imaginative redecoration techniques. A good place to begin is with your bathroom lighting. Adding more light to a room can actually give the illusion that the room is larger than it actually is. One simple way to do this is by increasing the size of the light fixtures. For example, if you have a three light fixture, make your room brighter with a five light fixture, or increase your light bulb size to achieve the desired brightening effect. If there is ample counter space or room for furniture, lighting can be greatly improved with a small table lamp, which also adds elegance and warmth. Furniture usually only works in bathrooms that are large enough to not appear cramped. But if you are blessed with a big bathroom, try moving an old cupboard or chest into an empty corner. It can add style and storage at the same time. A chair or bench also adds panache and functionality to large bathrooms, as it provides the perfect place to sit while manicuring your nails or waiting for a bath to draw. If you have a smaller bathroom, limit the amount of accessories lying around. Storage space is likely a premium, so finding room for a cabinet or a bin is probably impossible. In this case, consider installing a shelf or two on the wall behind your toilet where you can store extra toilet paper and towels, as well as smaller toiletries, like shampoo and hairbrushes. To keep these items organized use display containers, which can often be found in a kitchen. For example, a ceramic jar can hold cotton balls while mugs can be used for holding makeup brushes. Baskets are also great for hiding miscellaneous items. If your bathroom can benefit from a new colour, why not spend a weekend painting. Before you begin, decide if you’ll be matching the wall colour with the rugs and fabrics already in your bathroom, or if you’ll be purchasing new materials. An easy and imaginative alternative to painting is stencilling, which can be done around the ceilings, window areas and mirrors. Artwork can also do wonders to spice up bare bathroom walls. Try some inexpensive framed prints, which can be used to complement any decorating theme. There are an assortment of affordable but luxurious touches that can be added to your bathroom. Radio or compact disc players can be used to play soothing sounds and add tranquility while scented candles can provide a relaxed and refreshing aroma. A built-in hair dryer may at first seem lavish, but think about how much you appreciate it in a hotel restroom and you might find that it is worth the money. So if you feel it is time to give your bathroom a new and improved look, remember that it doesn’t have to include bulldozers and bricks, just a bit of creative thinking.