Archives for Real Estate Information

An Era of Change: 2018

An Era of Change: 2018  Canadian real estate is in an era of change.  2017 closed with a bang, as we saw some of the largest increases in real estate prices in nearly a decade. The curiosity now turns to 2018, and what can we expect to see in Ottawa, and across Canada. Ottawa is climbing the list as a hot spot for home buyers this year, joining popular cities like Toronto, Montreal and Vancouver.  Ottawa may hold an even higher interest for buyers, where real estate prices are significantly lower than areas such as Toronto and Vancouver. The pool of potential home
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2017 Recap!

2017 was an amazing year for Real Estate in Ottawa! Records were broken and property values continue to increase. As the year comes to a close, let’s take a look back at some of the highlights with our Top 20 Blog Posts of 2017! #20 – Understanding Multiple Offers This year the Ottawa market became more competitive than ever before and multiple offers have become far more common. Here are some helpful hints to help you navigate multiple offers! #19 – Pets and Real Estate New research emerged this year showing that more and more homeowners are making housing decisions
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What Canadian home buyers need to know NOW about the upcoming changes to Mortgage rules

What home buyers need to know before 2018 As of January 1, 2018, Canadian homebuyers will have to meet stiffer requirements in order to qualify for a mortgage with a federally regulated mortgage lender. Why are the Mortgage Rules changing? As Canada’s financial “watchdog” OSFI believes these new rules will decrease the risks for Canadian households with significant debt if and when the interest rates rise. Are you a Confused by the upcoming changes to the mortgage rules? Don’t panic. Our very own Kent Browne, Owner and Broker at Royal LePage Team Realty, sat down with Mortgage Broker York Polk 
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Residential Landlord Rules: An Update

Over the past year, there have been many significant changes to the rules for Residential Landlords. These changes may seem overwhelming, but we are here to help; if you have any further questions, do not hesitate to contact a Realtor. Outlined below are the major rule changes as well as an understanding of how they may affect you as either a landlord or a tenant. September 2016 – Terminations for Domestic Abuse New rules have been put in place involving the termination of a lease in the case of domestic abuse. The landlord no longer has the ability to challenge
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Ottawa Real Estate Update: October Market Snapshot

posted November 2nd, 2017 by the Ottawa Real Estate Board “Leaves may be falling, but the real estate market is not” OTTAWA, Nov. 2, 2017 – Members of the Ottawa Real Estate Board sold 1,243 residential properties in October through the Board’s Multiple Listing Service® System,compared with 1,214 in October 2016, an increase of 2.3 per cent. The five-year average for October sales is 1,165. “As we enter the 3rd quarter of the year, we continue to see the resale market outpace last year’s performance, which was also a stellar year,” says Rick Eisert, President of the Ottawa Real Estate
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Just Another Day in the Life…

Many of you may wonder from time to time what your realtor’s typical day might look like. Truth be told, however, as a realtor, there really is no such thing as a typical day. In reality, days vary, schedules change, appointments pop up, emails come in – and in between it all, they eat and (sometimes) sleep. You see, from the moment your realtor’s alarm goes off in the morning, to the time they go to bed at night, they’re working hard to serve you and your home buying/selling needs. For them, it’s a lifestyle – and they’re quite accustomed
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Market update! Latest news in Ottawa Real Estate August 2017 Stats

Condo sales help set new record for August unit sales OTTAWA, September 6, 2017 – Members of the Ottawa Real Estate Board sold 1,538 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,481 in August 2016, an increase of 3.8 per cent. The five-year average for August sales is 1,343. “Condo sales continue to strengthen the Ottawa resale market,” says Rick Eisert, President of the Ottawa Real Estate Board. “These numbers also assisted in setting a new record for the number of units sold in August, pushing August 2016 unit sales into second-place. In comparison to last
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“a Stellar year so far”…Ottawa Real Estate Snapshot June 2017

We are still seeing lower than normal inventory, more multiple offer situations and fewer days on the market which is good for sellers but with prices remaining “relatively steady”, it is also good news for Buyers.  Check out the highlights below and send us an email to info@teamrealty.ca for details and info on specific properties, we love to chat about real estate! Below is the latest news release from the Ottawa Real Estate Board Members of the Ottawa Real Estate Board sold 2,162 residential properties in June through the Board’s Multiple Listing Service® System, compared with 1,985 in June 2016, an increase of
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Ottawa Real Estate Snapshot May 2017

Another record breaking month in the Ottawa Real Estate market with the highest number of properties sold in one month ever recorded! The Ottawa condo market is gaining significant strength, with 44 Condos sold last month, that’s 44.6% more than May 2016.  We are still seeing lower than normal inventory, more multiple offer situations and fewer days on the market which is good for sellers but with prices remaining “relatively steady”, it is also good news for Buyers.  Check out the highlights below and send us an email to info@teamrealty.ca for details and info on specific properties, we love to
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Canada’s Housing Rules in Full Swing

Happy New Year, folks! 2017 has finally arrived, and for the real estate world, change is in sight. As most of us already know, 2016 brought forth a lot of chatter about several significant changes (decided upon by our government) toward our country’s mortgage and housing rules. Those who will primarily be affected by these implementations will be anyone who, is not only looking to perhaps qualify for government-backed insured mortgages, but also those who may be looking to purchase their first home and/or are looking to refinance their existing mortgage. Having said that, the Government of Canada has been
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