14th
July
Archive for the ‘Latest News’ Category
5th
July
5 Summer Real Estate Tips – Buying and Selling When It’s Hot
Like the weather, real estate markets are hotter in the summer. There are typically more buyers out looking for homes, and more sellers listing their homes for sale. If you are in the market for a new home or are thinking about selling during this time of year, there are some tips and trends to keep in mind to maximize your results.
1. Sellers: Don’t Forget the Outside
During summer, landscaping and outdoor space are especially important aspects of your home sale. Maximize the space by keeping the exterior clean, organized, and inviting. Pressure washing, lawn care, and other regular maintenance tasks can do wonders for your bottom line.
2. Buyers: Don’t Forget the Inside
It can be easy to get swept away by a great fenced lawn, pool, deck, and other exterior features, especially when you are house hunting at the peak of summer. But don’t let visions of outdoor relaxation and entertaining distract you from other essential home features or sway you into overlooking interior concerns.
3. Sellers: Know Your Competition
With more houses on the market, knowing what you are up against is key. Being aware of other homes for sale in your neighborhood can help you define your home’s own weaknesses and strengths. Reviewing information on area listings can also help ensure that you price your home right.
4. Buyers: Remember Your Goals
When a surge of homes come on the market at the start of summer, it can be easy to get overwhelmed by all of the options. Don’t lose sight of the features that are most important to you, and try to set reasonable expectations that suit your budget, lifestyle, and overall needs.
5. Everybody: Don’t Get Squeezed by the Season
Even though summer is a prime time for buyers and sellers, don’t let the seasonal time frame become an added stress during your house hunt or home sale. Both buyers and sellers can find success throughout the year!
10th
June
Royal LePage – My Great Neighbourhood Contest
Royal LePage is proud to announce the My Great Neighbourhood Contest where consumers can enter to win one of seven monthly prizes of $500 and/or the Grand Prize of $25,000 in cash! Participants are invited to submit videos, photos, and stories to tell Canada why their neighbourhood is the greatest. They’ll have to share their entries with their friends and family to get votes online. A $5 000 donation will be made to a nearby women’s shelter in the Grand Prize winner’s name.
Go to the contest website:
http://www.royallepage.ca/mygreatneighbourhood
Encourage people in your community to participate – it’s a fun and innovative way to get in touch and promote your neighbourhood.
8th
June
Ottawa resale housing market remains in balance
Members of the Ottawa Real Estate Board sold 1,659 residential properties in May through the Board’s Multiple Listing Service® system compared with 1,686 in May 2010, a decrease of 1.6 per cent.
Of those sales, 369 were in the condominium property class, while 1,290 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.
According to the Canada Mortgage and Housing Corporation (CMHC) in their Spring 2011 Ottawa Housing Market Outlook, the Ottawa Census Metropolitan Area (CMA) transitioned from a seller’s market to a balanced market in 2010 and will remain in that territory in 2011. CMHC analysts define Ottawa’s resale housing market as balanced when between 35 and 55 per cent of the number of homes listed for sale (new listings) in a given month are sold.
“Sales numbers for May were virtually unchanged from 2010, but prices continued to rise at about the same rate as we have seen for the past few months, demonstrating solid demand for resale housing in our area,” said Board President Joanne Tibbles. “A balanced market offers no distinct advantage to either buyers or sellers, so I’d advise anyone thinking of buying or selling to work with a local REALTOR® to help them achieve their goals. There are different strategies for marketing a home or making an offer to purchase in a balanced market versus a buyer’s or seller’s market. An Ottawa REALTOR® can help make the process easier for consumers,” Tibbles added.
The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $352,347, an increase of 5.6 per cent over May 2010. The average sale price for a condominium-class property was $261,871, an increase of 6.4 per cent over May 2010. The average sale price of a residential-class property was $378,228, an increase of 6 per cent over May 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.
