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Ottawa real estate market stabilizes in coming months

A Conference Board economist stated in a recent article for the Ottawa Business Journal that the Ottawa real estate market will be "pretty decent".

These comments came after the Board's October resale index was released, showing that the average housing price increase of 3% was just below the rate of inflation, which was 3.3% in October.

The index also showed that for every 1,000 homes listed for sale, 570 were sold in October.  This represents a sales to new listing ratio of 0.570.  A balanced market range is defined as anywhere between 0.393 and 0.709.

For more information on this trend, read the entire Ottawa Business Journal article on the stability of the Ottawa housing market.

For more up to date market statistics, visit our Ottawa real estate website or contact one of our Ottawa Sales Representatives at 613-288-0090.



Posted Monday, November 29, 2010 by Martin Bouma
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Ottawa condo market statistics update for November 2010

According to a recent report by the Ottawa Real Estate Board, real estate sales in the Ottawa area for October 2010 were 1042, compared to 1197 for October 2009.  This represents a decrease of 12.9%.  Since 2009 was a record setting year and the 2010 stats are an average of 2% lower, the 2010 year to date represents a balancing of the Ottawa real estate market.

Of the 1042 sales in Ottawa, 221 were condominiums.  The average price of a condominium in October was $263,292, while the average price of a residential dwelling in October was $361,560, almost a $100,000 difference.

For a more detailed analysis of the Ottawa real estate market, including why a condominium might be the right choice for you and your family, contact the Renaud Otten Team at 613-288-2455.


Posted Monday, November 15, 2010 by Martin Bouma
Tags: ottawa condo statistics,ottawa condos

The Renaud Otten Ottawa real estate team goes green!

Ray Otten of the Renaud Otten Team has recently become an Accredited Green Broker.  In an effort to reduce our team's carbon footprint, one of our initiatives is to replace our Homes by Design magazine subscription with an eVersion of Ottawa at Home magazine.

All of our previous clients enjoyed a monthly subscription to the paper-based Homes by Design magazine.  Now, we are exchanging this paper-based subscription to an eco-friendly subscription of Ottawa at Home magazine. 

In addition to providing this eVersion to our existing clients, we are pleased to be able to provide this magazine to all of our potential clients as well! 

In order to reserve your eVersion of Ottawa at Home magazine, simply email jonathan@OttawaProperties.com with the names and emails of anyone who would enjoy receiving a monthly local magazine filled with home, food and living in Ottawa information - all timely, fresh and unique content delivered to your inbox each month!

Going green has never been more fun!


Posted Monday, November 08, 2010 by Martin Bouma
Tags: ottawa homes,ottawa green initiatives,green broker

Municipal election coming up on October 25th

On October 25, 2010, there will be a municipal election, where you can vote for your choice of mayor and councellors. Voting will take place from10:00 a.m. until 8:00 p.m. To find the location of your election polling station, visit:

https://app02.ottawa.ca/election2010Pollingstation/search-polling-station.jsf

Simply enter your street name and number into the form and click search.

For a list of all of the candidates by ward, together with the mayoral candidates and school trustee candidates, visit the following link:

http://www.ottawa.ca/city_hall/elections/nominations/index_en.html

Make sure to get out and vote - your vote will make a difference.



Posted Sunday, October 17, 2010 by Martin Bouma
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Downsizing, De-cluttering and Dignity

Do any of these situations describe you?

 

  • Your children have all gone off to college or they have all started their careers and you now have to deal with their empty rooms.
  • You would rather spend your spare time enjoying your hobbies instead of cleaning and yard maintenance.
  • Your parents are approaching the age where they are unable to maintain their large homes and would prefer to live in a maintenance-free home or retirement home.

Is it time?

 

If your family, or someone you know, is facing a similar situation, it may be time to considering downsizing.  It can be a difficult decision to make but, as with anything, it helps to think of the glass as half-full and not half-empty.  If your children have all gone off to college or moved out, try not to dwell on the fact that their rooms are empty.  Instead, consider that room as your new home office, or library, or hobby room.  If you downsize, remember that all the time you used to spend cleaning and maintaining your home can now be spent visiting your children in their new homes. 

 

If you are deciding to downsize because you just don’t have the energy or ability for all of that heavy, time-consuming work, don’t think of it as aging....simply realize that you have probably taken care of people all of your lives and now YOU deserve to be taken care of!

 

Allow yourselves the luxury of having time to do whatever you want.  Do you enjoy travelling?  Maybe now is the time to take that trip of a lifetime.  Maybe you should finally start that scrapbooking project, or take a photography course, or make the most out of your golf membership.  Anything is possible!

 

What next?

 

Once you have decided that you need to downsize, you need to de-clutter.  It would be difficult to fit the same amount of furniture and belongings in a smaller home, condo, or retirement dwelling.  Try these tips:

 

  • Ask you family if they would like any of the furniture items you won’t need once you move.
  • Ask your family and friends if they know of anyone in need of some furniture (someone starting university or college, a recently divorced parent, a women’s shelter).

It may be easier to part with your treasured items and heirlooms if you know they will be appreciated and going to a welcoming home.

 

Enjoy your new life!

 

Now, find the perfect home for the next phase of your life.  It may be a small single family home on a small lot.  Maybe it will be a quaint garden home.  Perhaps you will enjoy the downtown condo life. 

 

Imagine your perfect life….do your hobbies require you to have a spare room or a basement?  Is gardening a must for you?  Would you love the convenience of a pool, whirlpool and sauna right in your building?  Once your “perfect” list is complete, you will have a checklist to take with you while you are house-hunting.  Happy downsizing!

 

Contact the Renaud Otten Team at (613) 288-0090 for all of your real estate needs, including help finding the perfect home or condo for the next phase of your life.

Posted Monday, August 09, 2010 by Martin Bouma
Tags: ottawa condo sales, ottawa condos for sale