Stunning 4 Bedroom Bungalow in Fantastic Neighborhood.

Here it is! The one that you have been waiting for. This 2008 Monarch built Colorado model is fully finished and ready to go! Perfect potential to add an in-law suite with only a electrical to add for a stove. Don't waste your time and money buying the same model for the same price minus all the upgrades and come and grab this finished home on a corner lot now before its too late.

Home Features:
- Double Garage
- Garage Door Opener
- Large Corner Lot
- Built 2008
- Natural Gas Furnace
- Central Air
- Storage Shed

Main Floor:
- Spacious Entry Way
- Office/Den/4th Bedroom
- Dark Hardwood Flooring
- Ceramic Tiles
- Full Bathroom
- Large Kitchen
- Dining Area
- Living Space with Fireplace
- VERY LARGE Master Quarters with Large Walk-in Closet and Ensuite with Soaker Tub and Separate Shower.



Lower Level:
- Family Room with Plus Carpeting For Added Comfort
- 2 Additional Bedrooms
- Large 3 Piece Bathroom with Luxury Shower with massager Jets
- Large Recroom with Sink and Counter Tops, Perfect to Convert to an In-law Suite.
- Storage Room
- Utility Room



This home is a MUST SEE! This price just cannot be beat. Call now for a private showing.

Market Outlook for 2013, is it as bad as they say!?

Well its no secret that there are some questions to be answered when looking at the Canadian Housing Market. The media sure does a good enough job of letting everyone know that. You've heard it before but I'm going to say it again, DON'T BELIEVE EVERYTHING YOU SEE ON TV! Good news just doesn't sell. I tend to trust the predictions of those that have consistently proven themselves in the past, CMHC(Canadian Mortgage and Housing Corporation). If you read back to my post this time last year, and their predictions you'll see they were pretty bang on(we saw a 2.3% increase). I recently sat in on a conference with CMHC for their Market Update for 2013 and this year is going to be much of the same. A slight increase with the rate of inflation, but overall the market here in Ottawa will remain level. All of you sitting back waiting to purchase hoping for prices to fall, best of luck to ya. Here are some points of interest that I noted during the Conference.

Ottawa Market:
- Ottawa median household income remained the highest amongst large cities in Canada coming in just shy of 100k/year, with average home price at $350k. To put that in perspective, Vancouver with a much higher avg home price came in closer to 60k/year!

- Ottawa saw a market stall due to the uncertainty of employment with government cuts but remember they are only cutting 1% of job force. Not a big deal. Infact, Ottawa saw a 3% employment growth attributed to service sectors and public admin. Unemployment rate for 2013 is looking to stay about the same as 2012.

- The last large decline in our market was in 95-96 where there were MANY more job cuts than we are seeing now. Sale prices only went down 2.4% then, and interest rates were at 9% and not historically low like they are now. Just think about that. More jobs, less interest, sales shouldn't be affected all that much.

- Ottawa is creating jobs! The LRT is expected to create approx. 20,000 jobs, the Landsdowne project will create a bundle and The Rideau Center will be doing a 250million dollar reno!

- We are currently sitting in a balanced market with a sales to listing ratio of 40-60%. If patterns stay the same we should be seeing some good growth come 2014.

- We expect a slight decline in sales for the first and second quarter of this year and they are expected to turn around for the 3rd and 4th.

- in 2012 Stittsville and Southeast Ottawa saw the highest increase in sales volume while Southeast saw the highest increase in price.

- New home construction in Ottawa hit over 6000 units in 2012(6026) and is expected to drop slightly for 2013 at approx. 5200. Breakdown of those units being built will be the same with 25% single homes, 25% rows and semis, and 50% apartments.

- Cheaper to get resale still! Keeps you closer to the downtown core as well. 2012 saw new home prices for singles hitting approx. 23% higher than resale homes!!!

So all in all Ottawa, we will be just fine. The worst thing you can do is just sit on your hands and do nothing.

Canadian Economy:
- GDP growth will be driven by business investment
- Housing Market expected to moderate
- Week demand globally for our exports will restrain growth slightly
- Interest rates to remain at historic lows as the states announced they shouldn't be changing until 2015.

Global Economy:
- European GDP Decline
- Italy, Spain, Portugal, Greece, still not out of the danger zone yet
- 11.7% unemployment rate
- Germany starting to show some signs of growth
- Good news for Canada is that the majority of our exports go to the states, then some to China, Japan, South Korea, and only approx. 6% go to European Countries.
- US Economy is starting to recover even though they showed a slight decline in the 4th quarter attributed to the scare of the "fiscal Cliff".


Well there you have it. If you have any questions at anytime about our current market conditions, whether you should be buying or selling at this time. Please don't hesitate to ask.

Andrew Miller

- The last large decline in our market was in 95-96 where there were MANY more job cuts than we are seeing now. Sale prices only went down 2.4% then, and interest rates were at 9% and not historically low like they are now. Just think about that. More jobs, less interest, sales shouldn't be affected all that much.

Maximize Your Profits, and Minimize Your Hassles

For many people, selling their home is a stressful experience. When you are ready to sell, my goal is to help you sell your home for top dollar, with the least amount of inconvenience to you. I like to eliminate the worry, so all you have to do is pack!

The way to reach this goal is to price the property accurately for the marketplace and get your property into its best condition. Many buyers nowadays work long hours in their jobs and want a home that is ready to move into without a lot of fix-up.

Please feel free to call or email me if I can provide you with a home price evaluation or even take a moment for a “walk through” of your home to see what you might do to prepare your home for sale.
Proper pricing and a home that is in “show shape” will help you sell your home more quickly, eliminating some of the hassles and maximizing your profits.


Sincerely,

Andrew Miller
Sales Representative
Keller Williams Ottawa Realty, Brokerage
phone: 6134477669
Email: amiller@kwottawa.ca
www.dreamhomeottawa.ca

Steal of a Deal on a Large 4 bedroom Townhome

Steal of a deal here! Large 4 bedroom home, with a 2 car garage and total of 6 parking spots! hardwood throughout main and upper level. Central A/C(2005). Newer Furnace with Warranty on parts n labour(2019), Roof 2005. Huge Master with wall to wall closets and HUGE Balcony. I challenge you to find a home of this size anywhere in the city for this price. Perfect for investors, close to 417, steps to bus stop. Very little TLC required



Home Features:
- Large 2 car garage with parking in drive for 4 more vehicles
- Balcony off Master
- Forced Air Natural Gas Furnace 2009(comes with 10 year warranty)
- Central A/C (2005)
- Roof Shingles (2005)
- Updated Vinyl Windows
- Maintenance free and private back yard with no rear neighbors
- True 4 bedroom home with all bedrooms upstairs
- No Carpeting

Main Level:
- Good size entry way with original vintage tiles
- Spacious living space with hardwood flooring
- Patio doors to the private yard
- Large dining area
- Good sized and well layed out kitchen with ample cupboard and counter space.
- powder room
- inside access to garage.

2nd Level:
- Hardwood throughout
- VERY large master bedroom with wall to wall closets and large balcony
- 3 other large bedrooms
- Full bathroom

Lower Level:
- Laundry Area
- Family room

This is a great sized home for the value. Don't wait too long and call or email me now to view.


Andrew Miller
Sales Representative
Keller Williams Ottawa Realty Ltd.
Brokerage, Independently Owned and Operated
610 Bronson Avenue
Ottawa, Ontario K1S 4E6

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!

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

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.

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

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

MORTGAGE CHANGES JULY 2012

Alright enough is enough. After receiving emails from several clients and even more from Mortgage specialists all over the city, I have decided that we need a nice easy to read explanation as to what new mortgage changes Canada’s Finance Minister Jim Flaherty has indicated will come into effect on July 9th, 2012.

1. Mortgage Amortization periods(length of the full mortgage) will be reduced from 30 years to 25 years. What that means for you buyers is a bit more money in terms of a monthly payment. Really this is better though. 30 and 40 year mortgages were a bit much anyways and in the long run we are better off. A family earning approx. 75k a year will be able to afford about 50k less of a mortgage however. Again, better safe than sorry.

2. The max amount that one can borrow when refinancing will be lowered to 80% from 85%. Again, good in the long term to not have more debt than people can handle. They also dropped this last year from 90% to 85%.

3. No more government back mortgage insurance on over 1million dollars.

4. Lines of Credit taken from the equity in your home will now be a maximum of 65% of your home’s value down from 80%. A home equity line of credit is similar to a standard line of credit but is secured against the equity in your home

5. The federal government will set maximum gross debt-service ratio (GDS) at 39% and lower maximum total debt-service ratio (TDS) to 44% from 45%.

Basically they are putting things back to normal. Since 2008 there have been 4 main changes done to tighten up lending policies. We are going back now to how things were before 2004. It's not to say they are making purchasing a home harder, they are more ensuring that those that are getting mortgages will be able to handle the debt more easily. This is a good thing, we do not want to end up like the states and have our market collapse and since the beginning of the changes in 2008 we are moving in the right direction to ensure that doesn't happen.

If you need anymore information please don't hesitate to ask.

Great Tips for Real Estate Investors

This is another solid blog that I grabbed from one of my Mortgage Specialists Nick Bachusky( www.mortgageinottawa.com ). I deal with a lot of investors and most start out making some of these mistakes. Give it a good read so that you don't.

Top Eight Mistakes Property Investors Make with Realtors from CREW (Canadian Real Estate Wealth)

Here is an interesting article that I came across in Canadian Real Estate Wealth magazine, I work with a lot of real estate investors and this is just a refresher to make sure you try hard not to fall into any of these traps

1. Lying about how much buying power they have
“Often investors are not honest with respect with their buying power and how much cash they have available, or they hope they can reduce the price or get some miracle and find the extra cash down payment,” says Montreal Realtor Banny Bar.

2. Backing out of deals
“A lot of hard work and effort can go into putting a deal together,” says Edmonton-based Realtor Corey Young. “Sometimes because an investor is not emotionally attached to a property, the slightest thing wrong with the inspection or with financing and they can pull the plug. That can definitely be frustrating for a Realtor.”

3. Being vague about where and what type of property they want to buy
First-time investors are especially vague, point out several Realtors. Requests for “cash flowing” properties could be answered with a single family home in a suburb, or a 100-unit building downtown. Know what type of building, tenant and cashflow you need, says one frustrated real estate agent, as well as the neighbourhoods and price range that interest you.

4. Being goal phobic
“If an investor comes to us and says that they want to buy a condo investment, we usually ask ‘what for?’,” says Toronto Realtor Adam Brind. “If they can’t give us a straight answer it means that we usually have our hands full.”

5. Expecting miracles from the Realtor
Bar has seen emails simply asking “Do you have any great deals?” without context or more information.
“I love those ones,” he says. “My reply is: ‘Yes I do, how many hours have you got? And I charge $2,000 per day.’”

6. Failing to listen and communicate
You use a Realtor for a reason – their expertise in the market. If they make a suggestion or ask you a question and you don’t take the time to consider it, you’re probably limiting yourself.
“The clients that actually follow through and purchase or sell product are the ones that ask the good questions,” says Young. “They are the ones that respond with in depth answers to my questions.”

7. Assuming the developer is on your side
Hello, investors: developer has their own agenda, and it’s really your Realtor who can help on issues such as picking the right floor plan for resale and weighing the adjacent land plans.
“It’s important for us to remind new clients that we have existing relationships in the industry and that we’re working for them – not the developer,” Brind says.

8. Having too many advisors
“Nothing is worse than working with an investor or first-time buyer that is getting mixed messages from various sources,” Brind says. “Very often we get investors that have ‘relatives’ in the business or ‘semi-professional’ friends that moonlight as real estate professionals.”

If Real Estate Investment is something that you have been thinking about, please feel free to give me a quick shout to see just how I can help. I have help many build and start their portfolio's in order to make solid and sound investments.