Make Mother's Day Great

Mother's Day Open House????



Yes!  It is the absolute best time for an Open House!  Let me explain.  Firstly, I think that most of us will agree, that Mother's Day, which is always celebrated in North America, on the second Sunday in May, is probably one of the most important "Sunday"  Days.  I mean, guys, lets face it, Super Bowl Sunday is important to a lot of people, but when push comes to shove, we know where our bread is buttered!!!!  You have to treat Mom that extra special way.  Yes, I can recommend a great Florist for you, and I even know of a 4th generation chocolatier from the Black Forest in Germany!  It's all about the preparation of the day - not the things you buy.  So here is my suggestion of how the day unfolds in a successful manner.

1. Order flowers and pick them up yourself so you can deliver them in person to Mom.
2. You have already made reservations for Brunch for Mom and everyone she counts as special to her - go and have a great time.
3. Those Black Forest Chocolates would be a great gift after lunch - because the day is about bringing on the gifts and keeping it coming.
4. Remember when you were a kid and you loved those Sunday drives in the country with Mom and Dad, well this is a great time for drive. 
5. With everyone waxing nostalgic, pick an Open House to visit in your town - something with a real feel that brings back something about a great time in everyone's past.  In fact, if you live anywhere near my town, please drop by and visit my Open House at 2066 Navaho Drive .  It's like Bewitched meets Mad Men.  Drop by for some coffee and cookies.  I'll be spinning some of my favourite LP's.
6. While this is all going on, your "crew at home" is busily working on the finishing touches to a Great Day for Mom.  Your at-home gang get word from you that it's
   "A - OK" to bring Mom home after a fun day.
7. Holy Cow, will Mom ever be surprised when she sees that the table is set for dinner, and the kids and Grand Kids have made her famous Meat Loaf.  Yummmm! 
8. You know when we all would sit back and watch Ed Sullivan on Sunday Nights - yeah everyone talks about "The Beatles" which was really great, but remember Topo Gigio, and the Mamas and the Papas ?  Well, thanks to technology, the Grand Kids have arranged for everyone to relive a few episodes either after dinner or while eating dinner on some TV trays you picked up during your drive in the afternoon at a local flea Market.

So to make a long story short, make this Mother's Day one to remember for all the right reasons.  If you're in town, in my town, I'd live to see you and we can shoot the breeze about some simpler times, and raise a cup of coffee to Mom. 

Make it a Great Mother's Day this year.

Ottawa resale market up from January

Ottawa, March 5, 2013 - Members of the Ottawa Real Estate Board sold 914 residential properties in February through the Board’s Multiple Listing Service® system, compared with 1,008 in February 2012, a decrease of 9.3 per cent.

“It is clear that the Ottawa resale market has slowed down in comparison to this time last year,” says Tim Lee, President of the Ottawa Real Estate Board. “The government was successful in its quest to “cool down” the market. However, if we look at this month’s sales, in comparison to last month’s sales, the market seems to be picking back up as we approach the busy spring season – 315 more homes were sold in February, over January, even with three fewer days.”

February’s sales included 224 in the condominium property class, and 690 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.

The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $346,774, a slight decrease of 1.1 per cent over February 2012. The average sale price for a condominium-class property was $264,953, a decrease of 3.1 per cent over February 2012. The average sale price of a residential-class property was $373,337 a slight decrease of 0.6 per cent over February 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.

 

- Ottawa Real Estate Board 

Ottawa Market Dips Post "Cool Down"

Members of the Ottawa Real Estate Board sold 602 residential properties in January through the Board’s Multiple Listing Service® system, compared with 682 in January 2012, a decrease of 11.7 per cent.

“The Ottawa resale market, which started to flatten out in November and December - potentially as a result of the governments’ aim to “cool down” the market – maintained its steadiness into January,” says Tim Lee, President of the Ottawa Real Estate Board. “January 2013 isn’t too far off from the numbers we’ve seen in recent years, and although the units sold are a tad lower, Ottawa remains a healthy market.”

An economic summary of expansion in Ottawa by Shore-Tanner and Associates indicated that the rates of growth in residents over the age of 55, and particularly in the formation of single and two-person households, will continue to rise in the coming years. Consequently, these trends indicate that there will soon be a strong demand for small apartments, condominiums, and retirement homes. “Within some areas of Ottawa, we are already starting to see condo sales on the rise,” says Lee.

January’s sales included 136 in the condominium property class, and 466 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.

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $342,458, a slight decrease of 1.8 per cent over January 2012. The average sale price for a condominium-class property was $268,604, an increase of 6.1 per cent over January 2012. The average sale price of a residential-class property was $364,011 a decrease of 2.5 per cent over January 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.

 

Ottawa Real Estate Board, February 2013

Rental Scam - A Note of Caution to My Fellow Realtors & the Public

Google Alerts and Rental Scams

The Board often receives calls from members about rental property scams. The con artist takes information about an MLS® listing from public websites and uses it to advertise the property for rent. When the con artist receives an enquiry, he or she asks for personal information and then requests a “security deposit,” claiming that after receipt of the deposit the keys will be couriered to the new tenant. There is never an opportunity to view the interior of the home before payment is requested, and the rent amount may seem very low. The person posting the ad may claim to be temporarily residing outside of the country, and the ad may be very poorly written. This scam has been common on Craigslist for some time now and appears to be spreading to other online classified services such as Kijiji and Used Ottawa.

A great way to ensure this doesn’t happen to your listings without your knowledge is to set up a Google Alert of your name, as well as the address of the properties you have listed for rent and for sale. You will get notified immediately if the listing has been posted elsewhere on the Internet.

                                                        - from Membership News, Ottawa Real Estate Board

December 2012 Ottawa Real Estate Market Data

The Results are in...

Members of the Ottawa Real Estate Board sold 618 residential properties in December through the Board’s Multiple Listing Service® system, compared with 695 in December 2011, a decrease of 11.1 per cent. The five-year average for December sales is 617.

The total number of homes sold through the Board’s MLS® system in 2012 was 14,308, only a minor decrease from the 14,389 homes sold in 2011. However, resale home sales in 2012 were slightly above the five-year average of 14,274. The average sale price for 2012 was $351,792, an increase of 2.3 per cent over 2011.”

“Looking back at the 2012 market, home sales in the first part of the year increased in comparison to the first half of 2011,” said new President of the Ottawa Real Estate Board, Tim Lee. “However, with the introduction of tighter mortgage rules in July, and looming government layoffs, the market seemed to “cool down” for the second half of 2012. Although the government has succeeded in its plan to “cool down” the market, Ottawa remains steady and balanced, devoid of large fluctuations in resale activity. We are truly fortunate to live and work in such a stable market area, and it seems buyers and sellers agree that Ottawa remains a great place to call home.”

December’s sales included 134 in the condominium property class, and 484 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.

The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $336,591, an increase of 1.3 per cent over December 2011. The average sale price for a condominium-class property was $258,498, a decrease of 1.5 per cent over December 2011. The average sale price of a residential-class property was $358,211, an increase of 0.6 per cent over December 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.”

While it’s true that the housing market gets quieter during the winter months, that doesn’t mean there is no activity between now and the spring. Homeowners may put their home on the market if they need to relocate for a new job, or if they need more space to accommodate a change in their family’s needs, such as a new baby or an older relative moving in. That’s good news for people who move to Ottawa during the winter or who may be seeking a new place for the same reasons as the sellers are putting their homes on the market. Real estate truly is a year-round business, and it’s never a bad time to consult with me. I can help make your buying or selling experience easier and less stressful. Let me put my skills and knowledge of the market to work on your behalf. Find me online anytime at www.chrisfirst.com.  

CMHC's Homebuying Step by Step Guide

Buying a home is one of the most important financial decisions you will ever make. To help you make smart homebuying decisions from start to finish, Canada Mortgage and Housing Corporation (CMHC) offers step by step tips.  Homebuying Step by Step guide walks you through five key steps to buying a home and includes a number of user-friendly worksheets and a helpful glossary.

Step 1: Is Homeownership Right for You?

Take a moment to think through the advantages and disadvantages of both owning and renting. Spend the time to educate yourself about the process of home buying and the responsibilities of homeownership.

 

Step 2: Are You Financially Ready?

Before you begin shopping for a home, know how much you can afford to spend. Start by evaluating your financial readiness with the help of CMHC’s Household Budget, Mortgage Payment, Debt Service and Mortgage Affordability Calculators. These tools will help you establish your financial situation, determine how much you can afford and the maximum price that you should be considering.

It is a good idea to meet with your mortgage professional to discuss your needs and get a mortgage pre-approval.

 

Step 3: Which Home is Right for You?
 

Once you have a good understanding of your finances, think about the type of home you would like to buy and the location. Consider your current and future housing needs and what is important to you.

You will want to assemble your team of professionals who will assist with the buying process, answer your questions and provide you with reliable information.


Step 4: The Buying Process
 

Begin the search for a home by seeking the help of a realtor, searching online, reviewing newspaper ads or real estate magazines and/or spreading your intentions through word-of-mouth. After you find a home you wish to buy, you will need to submit an Offer to Purchase. A realtor can guide you through the negotiation process. Then, finalize your mortgage, prepare for closing day and arrange to move.


Step 5: Now That You're a Homeowner
As a responsible homeowner, ensure that you make mortgage, property tax and insurance payments on time while setting aside an emergency fund for unexpected expenses. Prepare a monthly budget and account for maintenance and renovation which are a normal part of homeownership.

Canada Mortgage and Housing Corporation (CMHC) offers a variety of publications, calculators and online tools to help you make informed and responsible homebuying decisions.

The information is provided by CMHC for general illustrative purposes only, and does not take into account the specific objectives, circumstances and individual needs of the reader. It does not provide advice, and should not be relied upon in that regard. The information is believed to be reliable, but its accuracy, completeness and currency cannot be guaranteed. Neither CMHC and its employees nor any other party identified in this Article (Lender, Broker, etc.) assumes any liability of any kind in connection with the information provided. CMHC stake holders are permitted to distribute the materials at their expense. The above mentioned stake holder organization is responsible for the distribution of this document.

Ottawa Real Estate Market, "Steady as she goes, Captain."

As the leaves continue to fall in Ottawa, we are seeing an increase in units sold, as well as an increase in average sale price. Members of the Ottawa Real Estate Board sold 1,073 residential properties in October through the Board's Multiple Listing Service® system, compared with 1,059 in October 2011, an increase of 1.3 per cent. The five-year average for October sales is 1,067.

"Compared to the five-year average, Ottawa is right on track, indicating that we are not experiencing a real estate downturn in Ottawa, but a slow, steady incline in units sold and average sale price," notes Ansel Clarke, President of the Ottawa Real Estate Board. "Ottawa continues to be great place to buy and/or sell a home."

October's sales included 237 in the condominium property class, and 836 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.

The Ottawa market continues to be on track historically in regards to the number of sales to date as well. Since 1999 the number of sales through the MLS® System in Ottawa has ranged from a low of 11,329 to a high of 14,783. Sales for the first ten months of the year are at 12,768. Year-to-date average sale price is also up over 2011.

The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $346,492, an increase of 2.5 per cent over October 2011. The average sale price for a condominium-class property was $267,037, an increase of 3.0 per cent over October 2011. The average sale price of a residential-class property was $369,016, an increase of 1.8 per cent over October 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.

"Although the Ottawa market is characterized as stable and steady, there can be pockets of our market where fluctuations, such as larger increases in price, exist," explains Clarke. "This is why it is important for buyers and sellers to talk to their Ottawa area REALTOR® for more information about the housing market outlook where they live, or want to live."