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

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.

Old Homes Don't Mean Bad Homes.

I got news for everyone out there. New or old there is unfortunately no such thing as a perfect home. All homes are different and all have their own quirks about them that make them unique and one must know what those are before they become costly problems.

The benefits of living in an older home are plenty! The history, the style, the craftsmanship, the way that 3rd stair always squeeks. But owning such a home has its challenges. Maintenance can be tricky and expensive, especially if certain areas have been neglected. Here are some common issues found in older homes.

Energy inefficiency is the one of the key main issue with older homes. Most older homes were built with single-pane windows; maybe those are ok in a tropical climate, but whoever thought that they were sufficient for the temperature changes that we see here in Ottawa, were sadly mistaken.

Insulation in older homes was little to none in some cases and lack of insulation will also result in wasted energy and money. The most important and easiest area of the home to insulate is the attic, but walls and floors above ventilated crawlspaces should be insulated as well if possible. The attic may already have insulation but it may be inadequate by current standards. Not to mention, the type and materials used in older insulation should be carefully looked at and inspected.

If your home has older water pipes, have them checked to identify the material and determine if they need to be replaced. Some older materials such as galvanized steel, iron, and even lead are subject to deterioration and are still in use today even though new construction does not allow them. Replacement options include copper and PVC piping.

Electrical systems can still cause some issues and older types be found a lot homes and may not only be dangerous, but they can make the house uninsurable. Homes in the Glebe and downtown areas where they were constructed prior to 1940 may still have knob and tube wiring. Other homes built prior to the 80's may have aluminum wiring which heats up much quicker than copper and can become brittle over time. Even if no danger is present, we use so much more electricity in our homes now that the capacity of your older system may be inadequate. Only a qualified electrician should attempt any repairs or updates to your home's electrical system.

Foundations can be a tricky subject. Most older homes used stone foundations. During the 50's,60's and 70's, came around block foundations. Both of those types can have issues and your home should be looked at thoroughly to ensure that all is intact with them. Today homes mostly used poured concrete. Not to say that there aren't problems with those as well, but they are generally more durable. You should have someone that can identify any issues before the issues become problems. I have been on well over a hundred home inspections, and I can spot most problems before we waste our money calling in home inspectors to notice the same issues.

All in all, there is no such thing as a perfect home unfortunately. All homes have their problems and the key is to know what your home needs to make it as perfect as it can be.

PRICED TO SELL - Gorgeous 2Storey Loft Style Home

PRICED TO SELL at $274,900 - This stunning loft style 2 storey home sits nestled on a huge lot only 30 mins from downtown Ottawa, and mins from Kanata.

Neighbourhood features:
- Family Oriented
- Park Across the Street from home
- Natural Gas available at road
- High Speed Internet Available
- 30 mins from Downtown Ottawa.
- 5 mins from shopping
- good mix of homes in the area(no cookie cutters here!)
- Close to Constance Bay

Home Features:
- Forced Air Oil Heat
- Central Air Conditioning
- Fresh Paint Job
- Updated Flooring
- Over 25k spent in the last 2 years in improvements

Main Level:
- 2 storey living space flooded with natural light
- Powder room
- Large bright updated kitchen with lots of counter space
- Inside access to garage
- Exit out to rear deck
- Upgraded laminate throughout

Upper Level:
- Plush carpeting for added comfort
- 2 large bedrooms
- 2 full bathroms(one ensuite)
- Laundry room
- Great loft area perfect for office or family room.

Lower Level:
- Laminate flooring with Dry core underbelly
- 3rd bedroom
- Yet another living space!
- Storage area
- Utility room

With all this home has to offer, it is sure to go quickly. Call now to book your private showing. View More Images Below.

Market Outlook for 2012 is looking good!

I just finished up at a 2012 Mortgage Outlook with CMHC today. There were a lot of great things said. Mainly that Ottawa's housing market is in great shape to be living right now and for the future! I know there was recent press about that and may have you believing otherwise, but here are a few notes that I took in from todays meeting that could change your mind.

- Ottawa is currently in a strong balanced market, and prices expected to RISE with rate of inflation.
A 2.7% increase in home prices over the year is projected.

- Ottawa is definitely more stable as compared to other markets in Canada. So don't believe everything you see on TV

- Average employment by the government in 2002-08 was approx 95k, while average in 2008-12 was just shy of 120k.

- The government cuts that we are hearing of now represent approximately 1.5% job loss. That isn't as large of an
impact as most are thinking or hearing about.

- Other job sectors are still growing.

- Ottawa is at the top of the employment rate at 84.9%(ages 25-45) second only to Kitchener.

- Ottawa has grown approx. 47% in terms of income over the last 11 years and Ottawa has the highest weekly salaries anywhere in canada at just over $1000.

- Mortgage rates are still historically low, there is no better time to be buying! I've heard a recent deal was 3.89% for 10 year fixed!!! That's insane.

- Average of approx. 6000 immigrants per year are coming to Ottawa. 50% are economic immigrants meaning that they have degrees and support job growth. This combined with other factors translate to approx 5800 new houses a year required here in Ottawa.

- New homes are sitting at about 24% higher pricing then resale homes.

I think all this information I gathered says it all. The Ottawa housing market is fantastic. Rates are lower than most of us will see in our lifetimes. Prices aren't going down like some people may be telling you. There's not many times like this to be buying and selling homes.

Keep Your Chin Up And Your Costs Down.

So it's spring time, you're out hunting for a new dream home and finally find something perfect! It's got the hardwood you wanted, the granite counters, huge ensuite bathroom, and looks move in ready. Looks, is the key word. Unfortunately while you were bedazzled by the decorations in the home, you missed some key indications of the home. Now the inspector you just paid $500 for is telling you there are some water issues. Could be a busted toilet, curling roof shingles, and worse maybe some structural issues. Would have been good information earlier no? That's why I always keep my chin up when showing homes. You keep your eyes on what matters to you, while I keep mine up to ensure you get everything problem free.

Ceilings can come in many different materials these days but each kind should be looked at closely to notice different possible issues. The first being water problems. It's important not only to repair the damage, but find the root of the problem and have it dealt with asap. There are various types of staining and you should know the difference in them.

Mold is a big threat when moisture remains in the ceiling and the space above it. It doesn't take long for mold to begin growing, so making moves quickly and getting everything dry as possible is the best way to go. Not only a health hazard, mold can cause structural damage to the home if left to grow. Mold removal should be done by a professional and be able to warrant their work.

Minor ceiling cracks are not uncommon and usually is just the home settling. Even older homes can continue to settle for decades. Minor cracks can be repaired easily. I got all contacts no matter what the material. Major cracking can be due to structural issues and should be assessed by a professional before repair or replacement.

Paying attention to the ceiling can really pay off by getting the small problems before they can become big ones. I've been on hundreds of home inspection and I know what to look for so you aren't going in blind. Give me a call or shoot me an email now to help you find your next dream home!

Your Dreamhome is Awaiting Your Final Touches

Amazing opportunity to have your custom home built in an outstanding neighbourhood, on a gorgeous deep lot.

Plans approved for a a beautiful 2200sqft 2storey home that comes with Tarion Warranty. Jump on this now and choose all your own finishings inside and out! Hardwood flooring of your choice, ceramic tiles, slate, marble, you name it. This is your dream home, it doesn't get any better than this folks! Possibility of larger home built and designs can potentially be changed to accomodate.

Call now for more details.

Lot also available for sale on its own MLS#824331($364,900). Sale is subject to final severance, Room sizes, and taxes to follow.

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
www.dreamhomeottawa.blogspot.ca

Gorgeous 2 Storey Loft Style Home

This stunning loft style 2 storey home sits nestled on a huge lot only 30 mins from downtown Ottawa, and mins from Kanata.

Neighbourhood features:
- Family Oriented
- Park Across the Street from home
- Natural Gas available at road
- High Speed Internet Available
- 30 mins from Downtown Ottawa.
- 5 mins from shopping
- good mix of homes in the area(no cookie cutters here!)
- Close to Constance Bay

Home Features:
- Large Single Car Garage
- Forced Air Oil Heat
- Central Air Conditioning
- Fresh Paint Job
- Updated Flooring
- Over 25k spent in the last 2 years in improvements

Main Level:
- 2 storey living space flooded with natural light
- Powder room
- Large bright updated kitchen with lots of counter space
- Inside access to garage
- Exit out to rear deck
- Upgraded laminate throughout

Upper Level:
- Plush carpeting for added comfort
- 2 large bedrooms
- 2 full bathroms(one ensuite)
- Laundry room
- Great loft area perfect for office or family room.

Lower Level:
- Laminate flooring with Dry core underbelly
- 3rd bedroom
- Yet another living space!
- Storage area
- Utility room

With all this home has to offer, it is sure to go quickly. Call now to book your private showing.

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
www.dreamhomeottawa.blogspot.ca

MARKET WATCH - FEB 2012

According to statistics released by the Canadian Real Estate Association (CREA), sales activity rose in more than half of all local markets, including some of Canada’s most active cities.

The momentum in sales activity provides clear evidence that low interest rates continue to draw homebuyers to the housing market. While buyers have become increasingly cautious, the hand off for sales activity going into the new year suggests that the Canada’s housing market will continue to benefit from low interest rates in 2012, and continue making a significant contribution to Canadian economic activity. However, prospects among housing markets and neighbourhoods differ, so buyers and sellers of the Ottawa area, feel free to contact me to see just how well we are doing here in Ottawa, or more specifically your neighbourhood.

Successful Staging of Your Home

Be it on Television, Online, or in a magazine, you have probably by now heard of staging. It's clear that staging your home can give you a competitive advantage when selling your home, but most people still aren't too sure exactly what that means or what it involves.

Staging is organizing and decorating your home so that potential buyers can visualize themselves living there. One doesn't need to spend a fortune to stage their home, the key is to figure out your homes best attributes, and highlight them while having few distractions.

Once spring time hits, the market will begin to get flooded with homes hitting the market, staging your home could give it the competitive advantage you need to blow away the competition, here are a few tips to help you get started.

DE-CLUTTER- buy some storage bins and start packing away all those little trinkets passed down from grandma. Store away all your jewelry and other small items. Take special care in the bathrooms and kitchen and put away as much as you can, clearing all items from the counter tops.

TAKE OUT PERSONAL ITEMS- No one cares what your kid got on their last test, nor do they want to see your Christmas cards or pics from your vacation. All of these things will only distract buyers from the great features of your home.

LIGHT AND WARMTH- Make your home welcoming and warm by having it bright. Open those curtains to let the sun flood in. If it is winter, turn up the heat. If it is summer, get that A/C working.

FURNITURE- Make sure your furiture helps show the size of yourrooms. Avoid having excessively large pieces, or too many pieces that take up too much space. Also, that old lazy boy that is formed just perfectly to you, has got to go, sorry.

NEUTRAL COLOURS- Ok so you love the Green Bay Packers, this doesn't mean that everyone is going to love your green and yellow man cave. Stick with neutral colours throughout the home.

QUICK FIXES- Little things add up in a buyers mind. Look for all the small things that could be easily fixed, and deal with the issues.

CLEAN- Should be a no brainer here but you'd be suprised how many homes I see that are not clean. I have lots of great cleaning crews that can do a fantastic job for you so that you can't cut any corners and can focus on more important things.

FINAL TOUCHES- Some flowers for the table, candles on the mantle, throw pillows for the couches and beds. All sorts of little things to splash a bit of colour will do wonders on a lasting impression. I have a great design team that can help you with that as well.

The time of year is coming, homes will be sold for top dollar and in short time periods. Give me a shout to allow me to help your homes be one of them so we can get you into your dream home that much quicker! amiller@kwottawa.ca

Remodelling Your Bathroom

Many clients of mine have recently been considering doing some renovations in their home. It seems to be a common question as to where their dollars are best spent. Well its no secret that the most important rooms of your home in buyers eyes tends to be the Kitchen and the Bathrooms.

The bathroom is a great place to spend your dollars and actually get the money back when you resale. It usually is the first place to start because of outdated features, different decorating taste from the previous owners or simply normal wear and tear on a very functional room of your home. Well if you have been thinking of remodelling, here are a few things for you to consider:

Resale Value - Resale is something that I ALWAYS discuss with my clients. You may have heard before that bath remodels add value to your home. These days you can recoup about 64% of the costs of a minor bathroom remodel, according to Remodeling magazine’s “2010-11 Cost vs. Value Report.” If your bathroom is especially in need of updates, you may recapture more.

Costs—Good News - Contractors are always eager for work, and prices are lower for their materials and labor, so now may be an ideal time to make your bathroom more livable.

Timely or Timeless Style - This is a huge problem that I see when people are redoing their bathrooms. Before you remodel, think of what it will look like in a couple years when you sell your home. Will you and possible buyers still like the look and style? Hopefully they will, otherwise they’ll factor in the cost of their own remodel when making an offer. Then all your hard work will be for nothing.

Too Much Cost? Think Small - If you’re not ready for a full remodel, then a fresh coat of paint, new towels and a pretty framed print can do wonders to update your bathroom—and give you a new look for 2011. If you have those old fixtures that are a stunning shade of pink, blue, yellow or even green, there are ways around completely replacing them. There are several companies out there that will refinish those fixtures in more neutral colours. Keep in mind though that those old toilets use up a LOT of water and if you choose to replace it, you will eventually get your money back through savings on your water bill.

Remember, it's you and your family that have to live there now, so ensure that whatever you do, you can handle brushing your teeth in there day after day. Balance that with how perspective buyers will like it, and you have yourself a winning recipe.

If you need any contact info for contractors, designers, or for people to refinish those old fixtures please don't hesitate to ask.

Canadian Housing Market showing some Groth

Canadian home sales gained for the first time in five months in August, led by Ontario and British Columbia, though economists warned the uptick is likely to prove a blip in a declining trend.
Sales of existing homes through the Multiple Listing System rose 4.1% from July, figures released Wednesday by the Canadian Real Estate Association showed. It was the first increase since March, it said. On a year-over-year basis, sales are down 22.5%.
Canada’s housing market, which helped drag the economy out of recession, has been cooling rapidly over the past few months. Consumers made purchases that would have been made in summer earlier in the year to beat rising interest rates and the introduction of the harmonized sales tax in Ontario and B.C.
“A large part of the August increase comes from Ontario and B.C. because there was a lot of confusion in July as to how the HST would affect home sales,” CREA chief economist Gregory Klump said. “This is a bit of a relief rally and one car does not make a parade.”
Klump still expects housing sales to cool throughout the rest of the year, though he says it’s a healthy slowdown from the feverish levels seen at the end of last year.
TD Bank Financial said in a note the August figures are likely to have been a blip.
The bank said high household debt, the weakening employment outlook and declining personal income would all weigh on the market. It expects sales to drop by 20% next year and prices to decline 7%.
The average price of homes sold in August was $324,928, which is on a par with the same period last year. Excluding Alberta and New Brunswick, where prices eased, gains in every other province exceeded the national increase, CREA said.
Seasonally adjusted sales activity was either flat or increased in half of all markets across the country, it said.
The Organization for Economic Co-operation and Development in a report on Canada earlier this week warned prices may still be too high and more intervention may be needed to cool the market.
CREA president Georges Pahud on Wednesday rebuffed those suggestions, saying any further tightening in mortgage regulations risk damaging the market.
“Rising interest rates and a projected slowdown in job growth mean that the Canadian housing market is expected to continue to cool,” Pahud said. “This is overlooked in recent commentary that suggests further changes to mortgage regulations may be needed.”

-Ottawa Sun Sept 15, 2010

10 TIPS TO HOME OWNERSHIP

Owning a home is a fantastic thing, yet sometimes a great responsibility that gets over looked. To assist you, here are 10 things to try to keep in mind during your home ownership.

1. Take good care of your home
-as a rule try to budget 1 to 3% of your home’s value for maintenance and repairs each year.

2. Build your homes equity
- By Making an extra principal payment here and there when possible, one can decrease the interest paid over the life of the loan.

3. Your home should have a good first impression
- By Keeping your front entrance clear and welcoming you will increase the curb appeal of your home which improves your homes value.

4. Be properly insured
- In most cases you only need to insure the replacement value of your home and personal property, not the land.

5. Love your neighborhood--not just your home
- If you’re not happy with your current neighborhood, start thinking of where you would be happier and let's get planning to get you there.

6. Make improvements
- Statistics show that updated kitchens and baths are the number 1 key selling features in most homes, so spend your dollars there first.

7. Safety is a must
- Install not only smoke detectors but with most homes now having natural gas furnaces it is also important to install carbon monoxide detectors to ensure the security of your family.

8. Go green and improve your monthly costs.
- More and more these days, buyers are looking for more energy effecient homes. Improvements in the insulation of windows, doors, and storm doors can save energy costs and increase your home’s resale value.

9. Stick to Neutral Colours
- If you’re thinking of moving in a year or so, choose light, neutral paint colors, what looks great to you does not always look appealing to all.

10. Know when it's time to move
- Over time people often outgrow a house or neighborhood. If you’re thinking of making a change, please call or email to discuss the next steps.

HST Clarifications - What the gov forgot to mention.

After discussing the HST with many of my clients, and other buyers and sellers that I have been encountering, I realized that there are many false views of the HST and its impact on the purchase and sale of homes. So I'd like to take the time to clarify two major things.

1. HST does NOT impact the sale price of a RESALE home. HST only affects the price of new construction homes, or homes that have not had a final occupancy permit.(ie no one has lived in the home yet)

So Buyers don't be scared that the price you see will have an extra 13% tacked on after July 1st.
Do be aware that HST will be charged on other services such as realtor fees and legal fees.

2. The minimum downpayment required was NOT pushed up to 10%. There was talk that that was going to be the case, however the government decided not to impliment that so the downpayment required for home buyers is still only 5%.

They did however change the downpayment required for investment properties to a minimum of %20. Also, don't let that intimidate you too much, as I have some lenders that can look past this new rule and find ways around it.

If you or anyone you know are thinking of buying or selling, please don't hesitate to contact me immediately to get started. I am your one stop shop for real estate needs and I have all of the contacts you will need in your home purchase, lawyers, inspectors, contractors, mortgage specialists, and movers. You name it, I got it. I look forward to helping you find your dream home soon.

Market finally settling down

Home sales activity in Canada came up short of the record for the month of April and new listings continued to climb, according to statistics released by The Canadian Real Estate Association (CREA).

“Many of the sales that would normally have occurred in May were pulled back to April, due to buyers trying to avoid the May 1st transitional implementation date for the HST, as well as new mortgage regulations that came into effect April 19th,” said Ottawa Real Estate Board President Pierre de Varennes. “Buyers knew they would be paying 8% more for all of the service costs associated with a real estate transaction if their closing date was after July 1st, and that it might be more difficult to qualify for financing, so they moved quickly to avoid either situation. In addition, by comparison May 2009 was a record-breaking month as the floodgates opened on pent-up demand following the brief downturn in the market,” he added.

In general the Canadian real estate market is moving towards a balanced market where inventory is increasing well to meet demand. Buyers, sellers and REALTORS® can all relax and enter a sales transaction without pressure.

The easing trend in national sales activity masks a rising trend in a number of major markets. Real estate is local, so buyers and sellers should engage the services of a REALTOR® for knowledge about housing market trends in their market. For sellers, getting specific advice about home values in their local neighbourhood is crucial in a competitive market.

So looks like we are heading back to more of a buyers market in the coming months. Here in Ottawa prices will begin to level off to where they really should be. Those that have waited will have more choices and buying power. If you or anyone that you know could use my expertise, please feel free to contact me directly at amiller@kwottawa.ca or 613-447-7669.

HOT NEW LISTING!

WOW! Outstanding home on a Huge lot! Fully renovated, and updated, you will not find a home like this in the area, for this price! Large master with walk/in closet, and a full ensuite(with stand alone shower and jaccuzi tub). Updated kitchen and baths. Very spacious living/dining areas. Roof re-shingled 2009, Insulation 2010, Carpet in basement 2009, the majority of windows replaced 2009. Huge Garage(28'x20') w/high ceilings and 60Amp service that can accomodate just about any mechanic. Finished basement with 4 bedrooms, complete kitchen, and full bath, that makes it perfect for a teen retreat, an inlaw suite, or a live in ivestment with a Bed & Breakfast! Outdoor Pool, a patio, large yard with mature trees, and a screened in porch, allows for the perfect summer entertaining atmosphere! Do not miss out on this opportunity. There isn't enough space on these servers to upload all the amazing images of this home so call or email me now to have a look in person, you won't be dissappointed! OPEN HOUSE SUN JUNE 13th 2-4pm.

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: mailto:amiller@kwottawa.ca

HOTTEST APRIL EVER!!!

Members of the Ottawa Real Estate Board sold 1,841 residential properties in April through the Board's Multiple Listing Service® system compared with 1,591 in April 2009, an increase of 15.7 per cent. Of those sales, 425 were in the condominium property class, while 1,416 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. "Last month's sales blew away the record for April, which is always one of the busiest months of the year for our market," said Board President Pierre de Varennes. "The increased sales activity may be partially due to buyers trying to avoid the impending HST and the mortgage changes that came into effect on April 19, but also demonstrates that consumers feel confident about our local economy," he added.

The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $332,979, an increase of 11.6 per cent over April 2009. The average sale price for a condominium-class property was $254,220, an increase of 17.4 per cent over April 2009. The average sale price of a residential-class property was $356,617, an increase of 11.7 per cent over April 2009.

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.

"information provided by the Ottawa Real Estate Board."

Picking your Neighbourhood

Choosing your neighborhood

For many people, choosing a neighborhood is the most difficult part of the decision to buy a home. This is true even if already own a home and are trying to decide where to live next.
When you tackle the “location, location, location” question, it’s smart to prioritize various neighborhood features, then start looking for homes in areas that match most of your criteria. Here are some things to consider:

Transportation
Check the length of your commute to work from your neighborhoods of choice. Do streets get clogged at rush hour? Is mass transit within walking distance? In a consumer study, 79 percent of respondents said that a top priority in deciding where to live is having a commute time under 45 minutes. Seventy-five percent also wanted easy access to highways.

What’s close by
Research nearby schools, restaurants, places of worship and parks. Seventy-two percent of survey respondents ranked sidewalks and places to walk as a top priority when considering where to live.

Costs
In addition to the costs of mortgage, insurance and home maintenance, consider local property taxes and homeowner association fees, if applicable. If homes in your preferred neighborhoods are out of your price range, consider condominiums.

Future
Try to imagine what the neighborhood will look like in 10 years. Will you still want to live there, or do you expect to move before then? Will it be desirable to future buyers?
Before committing to the neighborhood, visit it at different times of day and night and talk to as many local residents as possible.

Once you’ve prioritized all your neighborhood amenities and features, you’ll find it’s much easier to focus your home search. Remember, the neighborhood is usually as important to the value of a home as what’s under its roof.