The Ottawa Real Estate Board (OREB) released it's year end statistics today and announced the market had set another record. The report is outlined below. Watch for the Barrhaven report in the next few days. If you would like a detailed report on your home specifically we would be happy to provide you with one.
2009 a record year for resale home sales, despite slow start
Ottawa, January 6, 2010 : Members of the Ottawa Real Estate Board sold 689 residential properties in December through the Board’s Multiple Listing Service® system compared with 467 in December 2008, an increase of 47.5 per cent. This brings the total number of residential properties sold through the Board’s Multiple Listing Service® system in 2009 to 14,742, up 7.4 per cent from 2008 and setting a new record. The previous record of 14,565 sales was set in 2007. The average price for all of 2009 was $303,888, an increase of 4.9 per cent over 2008. Of December’s sales, 185 were in the condominium property class, while 504 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.
“Ottawa’s housing market felt the chill of the global financial crisis last winter, but sales warmed up even before the spring weather arrived, and over the course of the year Ottawa had five record-breaking months of sales. Listing inventory was at a low level throughout 2009, which led to many multiple-offer situations,” said Board President Pierre de Varennes. “Ottawa’s housing market bounced back very strongly from its brief downturn, and we ended the year ahead of the previous annual sales record, which certainly no one expected back in January,” he added.
The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $307,807, an increase of 13.1 per cent over December 2008. The average sale price for a condominium-class property was $246,062, an increase of 17.9 per cent over December 2008. The average sale price of a residential-class property was $330,471, an increase of 12.8 per cent over December 2008. 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 Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.
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.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.
Manotick, Ottawa - The ranch at 5438 Riverside Crescent has been sold.
Property information
Family Home on North Island
• 2 bath, 4 bdrm ranch - 
MLS® $369,900 - Fantastic Value
Manotick, Ottawa - Enjoy everything Manotick has to offer within walking distance. This family home is ideal for kids. Walk to schools, park, recreation and more. Extensive upgrades included inground pool, newer flooring, roof, deck, central air and furnace. Move in and enjoy. Huge lot on a quiet street, double car garage. Don't miss this gem on the island. Comes equipped with appliances, blinds and inground pool. No showings/offer until Oct 5th.
Property information
Home Inspections have become almost a standard feature for most home buyers in the marketplace today and are something that I advise all my clients to get as a condition in an Agreement of Purchase and Sale, regardless of the age or type of home.
Recently, I had a listing that had a roof replaced 8 years earlier. We received an offer on the home conditional upon a home inspection. The home inspection was completed and we received an amendment from the buyers. There were two issues with the home. The first issue was that the roof needed to be replaced because in the opinion of the Home Inspector the original shingles on the home had been covered by the new shingles and this would result in the life of the new roof being significantly reduced. He suggested they would need a new roof with a year. The second issue was some concerns about the electrical system and set up in the home. There were a few issues, reversed polarity in outlets in the basement, ground wire connection, and the fact that the home inspector could access the electrical panel to look at it.
The amendment requested a $5,000 reduction in price for the roof and that the home owner have an electrical inspection done and complete all deficiencies at their expense.
I discussed this with my clients and they refused to reduce the price. They had had the roof repaired 8 years earlier and they had used a reputable roofer. They had been home when the roofing was done and they recalled the roof was stripped down to the sheathing, before ice protection and shingles were installed. A quick phone call to the roofing company (yes still in business 8 years later) confirmed that they had stripped the roof when they replaced it. By now the buyers have changed their minds and don't want the house they believe their Home Inspector!!
Now the question comes up "How can my sellers hold this inspector accountable?" They didn't hire him but his erroneous information has led to them losing a sale. Stay tuned i am in discussions with the owner of the franchise he works for and if unstatisfied with the response will look to the assocaition that certified him if he is in fact certified.
I would like to hear from you. Have you had an inspection go wrong and what happened? Are you a home inspector or agent?, if so what are your thoughts on this matter
Look for my next post with suggestions on how to find a good home inspector.
Borden Farm, Ottawa - Announcing a price reduction on 29 Overlake Drive, a 2 bath, 4 bdrm bungalow. Now MLS® $304,900 - Great Value!.
Property information
Morgan's Grant, Kanata - The townhouse at 47 Tobermory Crescent has been sold for full price in 2 days. Townhomes in Kanata North are in high demand and are selling very quickly! Thinking of selling call David or Joyce Armstrong at Century 21 John DeVries Ltd.
Property information
The old days of a sign on your property and and ad in the paper are long past in the marketing of real estate.
Today your agent's marketing plan should include;
1) A personal website for your home, see www.29overlake.com
2) Blogs about your home, see www.century21.ca/david.armstrong/blog
3) Facebook and Twitter posts about your home, see http://www.facebook.com/home.php#/pages/Kanata-ON/David-Armstrong-Joyce-Armstrong-Brokers-Century-21-John-DeVries-Ltd/56926808488
4) Google, Kijiji, Craigslist ads.
Why you ask? Because today's buyer first start there search on the web. They will have the first appointment on the Internet and then decide if they want to proceed with an in person showing. you need to evaluate the marketing proposal of each agent to ensure they are all offering these services. If they aren't find an agent that does.
Many people consider selling their home privately and that might make sense on the surface but you need to ask yourself, do I have the skill and knowledge required to market the property effectively? Am I really getting the exposure needed to attract the most qualified buyers to my home and final am I really saving any money doing it on my own? Most sellers have determined that they can't answer all these questions positively and so they turn to a Realtor to help them.
But all Realtor's aren't created equally. when you select your agent take a long hard look at the marketing proposal of the agent and also their track record. If they aren't utilizing the Internet extensively in their marketing then you need to look at why. A good agent will also be able to talk about their track record in terms of sales, list to sell ratio, list price to sell price ratio and average Days on Market. These numbers will help evaluate how effect the agents marketing plans have been.
Thinking of selling in Barrhaven or Kanata why not call us and find out what we do to sell your home, it's a free call and no obligation.
Happy Selling from the Armstrong Team
Fabulous 2 bedroom apartment with office/den in the popular Botanica Private complex. Walk to the Civic Hospital, Experimental farm, Dow's lake and Little Italy in minutes. Central location ideal for a professional couple, retirees or young professional. Unit is immaculate, freshly painted, high quality carpet and features 7 appliances. Kitchen appliances are brand new stainless steel. Unit comes with 2 underground parking spaces. Complex has salt water pool, sauna, exercise room, library and full security. $1800.00/month plus utilities available immediately.
Visit www.257botanicaprivate.com for all the details and pictures.
Barrhaven on the Green, Barrhaven - The 2 story at 71 Boulder Way has been sold.
Property information
|
| Su | Mo | Tu | We | Th | Fr | Sa |
|---|
| 26 | 27 | 28 | 29 | 30 | 1 | 2 |
| 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| 17 | 18 | 19 | 20 | 21 | 22 | 23 |
| 24 | 25 | 26 | 27 | 28 | 29 | 30 |
| 31 | 1 | 2 | 3 | 4 | 5 | 6 |
Queensway Terrace South, Ottawa - We invite everyone to visit our open house at 1195 Placid Street on May 24 from 2:00 PM to 4:00 PM.
Property information
If you are buying you need to be informed of prices, neighbourhoods and house styles and how they will impact your quality of life and the long term investment that you are making.
I recently worked with a buyer who fell in love with a house that we all felt was priced a little high. We looked closely at the comparables and all things considered the house should have been listed about $10,000 less than the owners asking price, but the buyer bought it. Why did they pay more? Because of all the homes they had seen they liked this one the best, because the location was excellent for their work and lifestyle and because over the 5-7 years they expected to be in the home the additional few thousand they paid for it, they believed was worthwhile.
A house is an investment and that should always be kept in mind when buying but it is also the place you will call home. Getting the best deal doesn't always mean you will get the best house and getting the best house is what you really want. Need help finding the BEST HOUSE for you call us, we can help.
|
| Su | Mo | Tu | We | Th | Fr | Sa |
|---|
| 26 | 27 | 28 | 29 | 30 | 1 | 2 |
| 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| 17 | 18 | 19 | 20 | 21 | 22 | 23 |
| 24 | 25 | 26 | 27 | 28 | 29 | 30 |
| 31 | 1 | 2 | 3 | 4 | 5 | 6 |
Queensway Terrace South, Ottawa - We invite everyone to visit our open house at 1195 Placid Street on May 3 from 2:00 PM to 4:00 PM.
Property information
263 Deerfox Drive, Barrhaven - Announcing a rental on 263 Deerfox Drive, a 1,800 sq. ft., 3 bath, 4 bdrm single story. Now $1,650 CAD Monthly - .
Property information
• 1,700 sq. ft., 3 bath, 3 bdrm single story - MLS® $259,500 - Excellent value
Barrhaven, Ottawa - Ideal first home! Close to all amenities and transit routes. This stylish townhome offers a spacious open concept main floor with large eatin kitchen, great room with gas fireplace and separate office. The three bedrooms are all well sized and the master has a full ensuite and walk-in closet. The home is equipped with 5 appliances, central air conditioner and window blinds. Landscaped yard has a large interlock patio. Bring the kids
Property information
Kanata North Executive Townhouse
• 1,635 sq. ft., 3 bath, 3 bdrm 2 story - $1,500 CAD Monthly - Great Price.
Briarbrook, Morgan's Grant - Newer, large, open concept 3 bedroom 2.5 bathroom executive townhouse. Ideal for professional couple/single. Located close to the Kanata High Tech Business Park. Single car gargage, central air conditioning, 6 appliances, finished lower level with bathroom. Forced Air natural gas heat. Available immediately, $1500/month plus utilities. Call Joyce Armstrong,Broker. Century 21 John DeVries Ltd., Brokerage 613-867-9922 or 613-836-2570.
Property information