Canadian Housing Market Looking Strong!

Canada’s housing market has two good years ahead of it yet, Canada Mortgage and Housing Corp. said Monday, with low interest rates and a “moderately” expanding economy keeping price corrections at bay.

The Crown corporation – which insures Canadian mortgages – has had a consistently rosier view of the market than many private sector forecasters.

Canadian banks have recently issued reports probing the consequences of cheap money, and trying to predict whether there is a bubble in prices that will eventually pop and cause prices to crash. They are particularly concerned about Vancouver and Toronto, where some have predicted price corrections of up to 10 per cent because of overbuilding in the condo market.

But CMHC said Monday Canadian markets would “remain steady in 2012 and 2013.

“With the Canadian economy set to expand at a moderate pace and mortgage rates expected to remain low, activity levels in 2012 in both new home construction and sales of existing homes will stay close to levels seen in 2011,” said Mathieu Laberge, deputy chief economist.

Also in the forecast: “Housing starts will be in the range of 164,000 to 212,700 units in 2012, with a point forecast of 190,000 units. In 2013, housing starts will be in the range of 168,900 to 219,300 units, with a point forecast of 193,800 units.

Existing home sales will be in the range of 406,000 to 504,500 units in 2012, with a point forecast of 457,300 units. In 2013, MLS sales are expected to move up in the range of 417,600 to 517,400 units, with a point forecast of 468,200 units.

The average MLS price is forecast to be between $330,000 and $410,000 in 2012 and between $335,000 and $430,000 in 2013. CMHC’s point forecast for the average MLS price is $368,900 for 2012 and $379,000 for 2013. The moderate increases in the average MLS price are consistent with the balanced market conditions that occurred in 2011, and that are expected to continue in 2012 and 2013.”

*the above information is courtesy of The Globe and Mail Monday, Feb. 13, 2012

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

Watch your home while you vacay.

It's now mid January. We have just been through a few days of extremely cold temperatures, and now a massive snow storm is coming through, yet again. Thankfully, you have that big vacay planned out, and in just a few weeks you'll be maxing and relaxing on the beach sipping a bevy out of a coconut. Thats all fine and dandy but how about your home back in the Ice Coast of Canada? Vacation time is the perfect time for burglaries! Here are a few tips to help protect your home while you are away.

Stop All Deliveries - Alert the post office that you will be away, and have them hold your mail until you return. Having mail and packages piling up at your door is a green light for any robber to come on in, nobody home.

Alert your Neighbors - Speak with your neighbors and let them know that you will be out of town. Provide them with an emergency number and maybe even have them take out your garbage, perhaps shovel or snowblow your driveway, or if in the summer, water and mow your lawn(sorry neighbors). Anything that you can think of to make it appear that you are home.

Make it look like you are home - Park a car in the driveway, turn the ringers off on your home phone, and most importantly install some timers for your lights and your TV. Timers are inexpensive and most have multiple time settings to make it appear as though you're home.

Secure all entry ways - Deadbolt your doors and secure all the windows. In other words, don't make it too easy for them to come right on in.

Remove Valuables, and that extra key - I know you got it "hidden" out there. Under the flower pot, the front door mat, the stairs, by the light. Let's face it, there's only so many places that one can hide a key, someone else can find it too. After they do, don't give them what they want and have your valuables hidden away at a friend or family members.

Well hopefully this all helps. Enjoy your vacation and come back to your home the same way as you left it.

If you need any other helpful hints on protecting your home, home maintenace or preparing your home for sale in the upcoming spring, please feel free to contact me.

Buying a home in the Winter

It's December now and with winter coming on and Christmas fast approaching, many people give up on searching for their home now until spring time.

DON'T! You will be selling yourself short, and might miss out on a great opportunity. I'll give you a few great reasons why:

NO COMPETITION - Many buyers were thinking like yourself and decided to duck out. Unlike in the spring, you have less of a chance of getting into a multiple offer situation which in turn saves you money!

SELLER's MOTIVATED - Sellers begin to feel the market slowing down a bit. They see less people coming through their home and begin to get discouraged and think that they might not be able to sell their property. Could lead you to a lower price.

BANKS GET DESPERATE - One of the best times of the year to be purchasing a property being sold under power of sale or a foreclosed property, is in December. The banks fiscal year end is JAN 1st and they HATE to see properties sit in their inventory. They also know that the market is a bit slower in the winter months and will take any reasonable offer seriously.

EFFICIENCY OF HOME - Ottawa is the coldest captital city in the world. Keeping the heat in your home, and money in your pocket is very important. Imagine this, There was just a huge dump of snow and all the homes on the street have snow covered roofs. Except the one that you are looking at? Odds are the insulation up there isn't to great, and you have a heat loss problem. Also, the windows are full of condensation inside the glass? Seals are done and the windows should be probably be replaced. Floors are just freezing in the bedroom above the garage, or somewhere else in the home. There are many more problems one can notice in the winter months and this being Ottawa, its a good idea to know what to look for.

Please feel free to contact me if you or anyone you know is thinking of buying or selling. I'll make sure that we get you a great deal on the property that you are buying, and you will be confident knowing you are not getting screwed buying something that is not worth the money you are paying.

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

Tax Free Savings Accounts

In order to help make your dreams become a Reality, it's not only important that I assist you in finding an exceptional home, or sell your home for top dollar amount; sometimes much can be gained by knowing a bit more about what to do to prepare you for the next step. Here's some great advice on how Tax Free Savings Accounts can help you accomplish some of your goals, and get you that much closer to making your dreams become a Reality.

Even though the Tax Free Savings Account (TFSA) is a “no-brainer” tax-shelter, not every Canadian yet has one. In fact, a shocking 13% don’t know what it is and 37% still don’t understand how they work, according to a survey from ING Direct.

The Tax-Free Savings Account (TFSA) provides Canadian investors with an exciting opportunity to earn tax-free income and to more easily meet lifetime savings needs.

Facts on a Tax-Free Savings Account (TFSA) :

- Tax-free investment income earned in a TFSA
- Tax-free withdrawals from a TFSA
- Can contribute up to $5,000.00 annually to a TFSA if you are a Canadian resident age 18 or older
- Unused TFSA contribution room is carried forward and accumulates in future years
- Can deposit back any amount of withdrawals into the TFSA in future years. However, any over-contribution amount will be subject to a penalty tax.
- Contributions are not tax-deductible
- Examples of investment options: Mutual funds, Guaranteed Investment Certificates (GICs) and Bonds
- TFSA assets can generally be transferred to a spouse or common-law partner upon death
- Can invest in your TFSA with funds given from your spouse or common-law partner


There are a variety of ways the TFSA can be used. You might use yours to supplement your retirement savings, save for a down payment, renovate your home — even take a family vacation. In all cases, your savings will benefit from tax-free growth.

This information has been supplied by one of my many exceptional mortgage specialists Susanna Penning at Oriana Financial 613-371-8076.

How about saving some money this winter?

If you've been reading my blogs at all over the years, you know the one thing that I harp on is the efficency of your home. Right about now most of you are starting to pull out your Canada Goose jackets, the ugly Christmas sweaters, and that old warm quilt your grandma made for you. How about prepping your home for the winter as well. In my last blog I gave you a good overview of winterizing your home. Now its time to take it a little bit further and spend a few dollars to save a bundle more.

Give your furnace some lovin! Many people don't realize that a furnace should be maintained once a year. A furnace is like a car, the better maintained it is, the longer it will last you and the more efficient it will run. Enbridge has some great service plans, look into it. Also, it may be time to change that filter again. I try to change mine 4 times a year at the change of every season. Dirty filters will make your furnace run a little harder. Don't forget to clean your duct work as well. There are a ton of deals these days for duct cleaning through dealfind, groupon, koopon etc.

Programmable Thermostat. $50-$200. and it will save you about 15% a month on your bill. Here's the catch though people, you HAVE to use it! In about 70% of the homes I see, the programmable thermostat is never running on a program. Take the time, read the manual if you have to(guys I know we won't read it) and set the programming features to turn down the heat when you don't need it cranked up.

Heat only the rooms that you use. The guest room that you never use, the extra bathroom, storage areas etc. All of these rooms that aren't really used that often should have the vents closed or if electric heat, turn the baseboards off. If you have a fireplace and spend most your time in there in the evenings, turn the furnace off or down for those hours, and let the fireplace heat for you.

Check for Drafts!!! Windows and doors are the devil. The majority of heat loss in a home will come from the doors and windows. In a previous blog I talked about wrapping your windows properly and I will repost that sometime soon as well. In short, ensure all weather stripping is intact and if older windows, consider upgrading the windows, and/or check for upgrading insulation around windows.

Energy Audit? I'm sure you have heard of them already and probably had someone you know have an energy audit performed. If know some people that do them and if you need a reference please let me know. Have an energy audit done on your home, and upgrade where you can. The government probably has some great rebates that you aren't aware of and you can retreive some of the money spent. Local, provincial, and federal governments frequently offer tax breaks or rebates for energy-saving upgrades, as do many utility companies.

Take the time, make the changes. Not only are you doing your part to help the environment, but you will finish off the winter with more money in your pocket. Win win.