Wednesday, November 21, 2012

Winter Is Coming Is Your Home Ready For It?


Well its getting near that time of the year. Many of us are cutting the lawns for the last time. Thinking of putting on the winter tires. Putting away all of the summer things, and preparing for another wonderful winter in Ottawa. Well here are a few tips to prepare your home for the coming winter months.

Lawn and gardens: Be sure to apply some winterguard to your lawn now. I'm sure you have all seen the commercials, well they don't lie! The best time to nurture that lawn of yours to ensure its up to par next year, is to apply some nutrients now to last it through the winter and grow some deep roots. Within your gardens, pull out any excessive weeds that you forgot about in the last few months, save the hassel in the spring, so you can get right to planting.

Furnace and A/C: Air conditioners! Why should I even be mentioning that you ask. Well it is important to cover up that A/C unit outside to shield it from the elements. No don't use that crappy vinyl cover that they gave you when you purchased it. That is great for more southern climates, but here in Canada it will trap in moisture, then it freezes, no good. It's also a hotel for mice! Simply place a sheet of plywood over top of the unit and stabilize it with a brick on top. Next I want you to head to your electrical panel, and flip the breaker so that no one accidentally trys to turn it on in the dead of winter, as this will pretty much destroy your unit.
As for the Furnace, change that filter if you haven't done so already. This should be done every 3 months, especially if you have pets or allergies, not expensive to do, and will ensure that your furnace can breath a bit better and it will be more efficient. Perhaps get the duct work cleaned as well if you haven't done so in over a year.

Exterior hoses - When you are brining in your hoses from outside, be sure to also turn off the exterior water source from the interior of the home. This will prevent water from staying in the pipes to close to the outside and freezing over during the winter.

Windows - Some people like to put plastic wraps over the windows to help with heat loss during the cold winters. Be sure to do this properly though, otherwise you are wasting your time. Ensure that you cover over the trim of the window a few inches at least on each side. Its not just through the cracks of the window frame that the cold can come through but also the wooden trim around the window as well. Use a blow dryer to heat and tighten the plastic after application to ensure that it gets a nice smooth finish.

Fireplaces: Be sure to get your chimney swept clean before use each year. Also shovel out all of last years soot and ashes, better now then when its -30 and you want to build your fire. For gas fireplaces, ensure that the flame is burning a nice blue flame. The bluer the flame, then cleaner it is burning.

Calibrate your home for consistent temperature: everyones comfort level is different and playing with that thermostat will really crank up the costs of heating your home. Be sure to get a programable thermostat, and use its features. Next you are going to close off all of the vents on the upper level of your home, and open all of the vents on the lower levels. (hopefully the opposite of what you did before the summer) Hot air rises, and in about 24 hours or so, the whole house should be at the same temperature. If you don't have a ceiling fan at the top of your stairway, not a bad idea to get one installed to assist in the process of pulling up some of the warmer air from downstairs.(vise versa in summer, reverse the setting to have it blow down the cooler air.)

Follow these tips and you should save yourself a bit of cash and headaches. In the meantime, enjoy the beautiful fall colours, and remember if you know of anyone thinking of buying or selling in the Ottawa area, please feel free to pass along my information!

Monday, November 12, 2012

Ottawa Market Looking Good says OREB


Ottawa, November 5, 2012 :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.”

* via the Ottawa Real Estate Board

Thursday, November 8, 2012

Credit Reports - The good, the bad, and the ugly



Credit Reports. I know what you're thinking. What can be more exciting than talking about credit reports right? Well thats why I'm here to make it a bit more interesting than your average person talking about them would.

Yesterday I sat in on a presentation by CMHC which discussed the importance of ones credit report. Here's what I gathered from it all.

One major thing that came about was the misunderstanding that if your credit is constantly checked, it negatively affects your credit score. This is slightly misleading. When you are searching for a new rental and or a mortgage for a new home, each time your credit gets checked, it is documented however similar checks into ones credit gets bundled together and only impacts your actual score once. So that means you can apply to 10 different mortgage companies at once if you like and your score will only be impacted as though it was one incident.

So you have bad credit, like most of the population, or maybe even no credit and youre looking to buy a home. Just because you can't buy one right this second doesn't mean you can't get yourself in shape to buy one in the near future. Here are some tips on how to get yourself back into decent credit standing.

If you are a newcomer or borrower with no credit
- get a credit card
- pay your bills on time
- open a bank account and use it frequently

Maintain and improve
- Avoid changes in employment and your residence
- always pay bills on time
- pay bills in full on or before due
- pay debts as quick as possible
- keep balance below the limit(it is suggested to keep your credit cards below 35% of the limit so it doesn't negatively impact your score)
- reduce the number of credit applications
- contact creditors immediately if they are having trouble making payments, do it before to late

So what affects your credit score you ask? Here is what the score is mainly compiled of:
35% - Payment History(do you pay your bills, and on time?)
30% - Use of available Credit (Are all of your cards maxed out most the time?)
15% - length of credit history (Did you just get a credit card?)
10% - number of recent inquiries made about credit report.
10% - type of credit being used
(Phone bills are sometimes uses, utilities usually only once they hit collections)

It's also suggest that you pull a credit report on yourself. It is FREE in person or to have it mailed to you. One should get their report at least once a year to verify info is up to date and correct.

Scores
300-559 = POOR
660-774 = GOOD
760+ = EXCELLENT

CMHC's average credit score in their portfolio is an astounding 724!

www.fcac-acfc.gc.ca to further understand your credit report

Or feel free to give me a shout whenever you like.

Monday, November 5, 2012

The Importance of Having a Buyers Representative on Your Side.






















Today's world is much different than even 10 years ago. With the boom of the internet, it seems that the "do it yourself" maintality has spread into all sorts of aspects in ones life. Looking to do some work on your home these days its quite easy to find advice on how to do just about anything from installing a light fixture to putting in hardwood floors. Most of the time these "DIY" jobs do nothing more than create more business for the real professionals out there. Everyone wants to save a buck, but most of the time it costs you more than you think. I'm sure you trust professionals to do most things for you though right? You probably don't cut your own hair, you go to a barber. If you break your arm, you most likely go to a doctor. So why is it that when it comes to purchasing a home, the biggest purchase of your life, you decide you want to tackle that yourself? Especially when it generally costs you nothing out of your pocket to have a Realtor assisting you when buying a home.

Before 1995 Realtors listed homes and thats it. They would handle both sides of the transaction and took care of the buyer and seller. Does that make sense? Would you have a lawyer take care of both the defendant and the plaintiff? Absolutely not. So when a home is listed and a buyer goes in with no one looking out for the buyer, do you think the listing agent is interested in getting the buyer the best deal, or getting the best price for his seller? EXACTLY!

I recently saw a home that had sold for more than 25k then any other home in the neighborhood? At first I was shocked. That is until I noticed that the buyer was acting alone in the purchase and didn't have a Realtor working with them. I mean why bother right? You can look online yourself, see the pics of a home all by yourself right?

Realtors are trained professionals. We know the market and can help advise you on whether you are paying too much for a property or getting a good deal. Sure your lawyer can draw up the paperwork, but I recently had a discussion where it came about that lawyers may now begin to have buyers sign waivers stating that they are aware the lawyer is in no way a Real Estate professional and have not and will not show comparables for the property they are buying. You don't get a lawyer to do your home inspection do you? Your doctor doesn't change the oil on your car right? So why not trust the biggest purchase of your life with a professional in the field.

Feel free to give me a shout if you would like more information on the matter. I'm here to help from beginning to end, from your first home to your dreamhome.



Andrew Miller
Sales Representative
Keller Williams Ottawa Realty Ltd.
Brokerage, Independently Owned and Operated
610 Bronson Avenue
Ottawa, Ontario K1S 4E6
Office: (613) 236-5959
Direct: (613) 447-7669
Fax: (613) 236-1515
Email: amiller@kwottawa.ca

Thursday, November 1, 2012

Halloween is over, and there is nothing to be scared of in our market!



Halloween is now over and November has begun. Many people still seem frightened however and are continuing to ask me if I think that the prices in Ottawa are going to start dropping. My answer still remains the same. Don't hold your breath. There is nothing to be scared of in todays housing market in Ottawa. We are still considered one of the most stable markets in all of North America.

Here in Ottawa and Canada as a whole is doing just fine and has now begun to level off a little bit.

If you are thinking of buying a new home, you can rest assured that you will no longer be paying the inflated prices that we saw this past spring and summer.

If you were thinking of selling, there are still plenty of buyers out there looking to take advantage of the historically low interest rates that we still have.

That combined with the fact that here in Ottawa we are quite stable and despite what people say, in my opinion, prices are NOT going down they are just balancing out.

Feel free to contact me at anytime if you have any questions at all about the real estate market here in Ottawa and its surrounding areas.



Sincerely,


Andrew Miller
Sales Representative
Keller Williams Ottawa Realty Ltd.
Brokerage, Independently Owned and Operated
610 Bronson Avenue
Ottawa, Ontario K1S 4E6
Office: (613) 236-5959
Direct: (613) 447-7669
Fax: (613) 235-1515
Email: amiller@kwottawa.ca