Posts Tagged ‘relocation’

Fantastic 4 bedroom family home in the desireable neighborhood of Blackburn Hamlet

 Ottawa, Ontario

4 Beds 2.5 Baths Irregular lot Sq. Ft.

Lovingly maintained by longtime owners (35 years), this property exudes pride of ownership! The hardwood floors are in impeccable condition. The original kitchen has solid maple cabinets, granite counters as well as stainless steel sink and faucet. 2 piece ensuite bathroom, main floor powder room and family bathroom have been comple...

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Beautifully cared for 3 bedroom home on cul-de-sac with huge pie shaped lot that is partially backing onto a ravine!

 Ottawa, Ontario

3 Beds 3.5 Baths 41' X 103' Sq. Ft.

This one has the real estate TRIFECTA! Location, location, location!! Beautifully cared for 3 bedroom home with a HUGE pie-shaped lot on a cul-de-sac AND partially backs onto a ravine!! Where do we start?? Updates and upgrades include metal roof, vinyl windows, furnace, central air, upgraded kitchen opened to family room, gas firepl...

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Lovingly maintained 3 bedroom Minto Empire in Kanata!

 Ottawa, Ontario

3 Beds 2.5 Baths

Welcome to one of Minto's most popular models. This Empire model has a hugely practical layout with an L-shaped living and dining room, spacious kitchen with eating nook and opening into the living area. The west facing back yard and the gas fireplace makes cold dreary weather a little more tolerable! Second floor has newer laminate...

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Hey Everyone and welcome to our 3rd in a series we are producing around the career that we love… real estate.

This is going to be your source for some real estate straight talk – the real deal, real scenarios, myths and myth busting, the rules, the ethics, the process, the expectations – what you really need to know. So here we go!

List to Sell Ratios….Production numbers…Oh Gosh….it’s MATH!

We were recently invited to a home as part of the owner’s interview process for the job of selling their home. We were very impressed with how prepared these home owners were for the meeting.

Everyone wants to know how you are planning on marketing their home and most REALTORS® will have a comprehensive plan of attack.

It made us think about the most important questions that a home owner should be asking their potential REALTOR® but rarely do before making their choice.

There are two big questions that come to mind;

1. How many houses have you sold this year?

Not how many the team has sold…

Not how many the brokerage has sold…

Not how many the company has sold…

How many have YOU sold – by yourself!!

The real estate market changes fast and is made up of so many business models that if an agent is selling one house every two months, they may not be up to speed on the current market conditions.

Just because they have been in real estate for 20 years doesn’t mean that they have the greatest experience. Conversely, if they work on a team of 17 people and can say the team sold 100 homes last year, that breaks down to almost 6 homes each – the national average. Not bad at all, but market knowledge and experience only gets better if you are selling 15 – 20 homes or more per year. That seems to be an industry understanding for having your fingers on the pulse of the market.

2. What percentage were Listings, and what percentage were buyers?

This is a follow up to #1 in the sense that the skill set can vary between someone  who deals with Buyers 80-90% of the time, and someone that deals with Sellers. Finding a good fit would be a REALTOR® that deals with both – they have solid experience selling homes, and also have current knowledge about what Buyers expect and are willing to pay / negotiate for/ need.

3. What is your List to Sell Ratio?

This is simply a test of our negotiating skills.  When we list a property how close to the asking price are we getting?? Let’s set out an example…

You are going to meet with REALTOR® A and REALTOR® B

REALTOR® A tells you their List to Sell Ratio is 96%, well…that sounds good. I mean from our school days, we all equate 90+% as a A or A+ right?

REALTOR® B says their list to sell ratio is 99.8%.

Already we want the person that is telling us they have an A++ in selling right?

And keep in mind, a lot of this is going to depend on the type of real estate market we are in. For the sake of argument, let’s say it’s a Seller’s market – where there are lots of Buyers and not enough homes on the market.

On a $400,000 home, 96% is $384,000.

99.8% on that same home is $399,200

That is $15,200 difference!!! That is HUGE!

That’s the difference between selling your home and moving on, and selling your home and getting a 2 WEEK CARRIBEAN CRUISE!

There are several different business models and agents charge different amounts. Do yourself a favour and get a great negotiator rather than the cheapest commission. You’ll R.E.S.T easy in the end!

For more information you can;

Listen to our podcast – https://bgmteam.podbean.com

Watch us on YouTube – https://www.youtube.com/user/myottawateam

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Wow Ottawa, was that a crazy two weeks or what?! From 40cm of snow to 90mm of rain all in 14 days! Apart from not knowing whether to take out your parka or your umbrella, the past two weeks of Ottawa April showers have seen a definitive influx of calls to our inspectors about basement water seepage and leakage and conversely, we have seen evidence of seepage in the homes we have shown.

Being homeowners ourselves, and knowing that at some point 98% of all basements will have a water leakage issue at some point in its lifetime, we are still taken aback when we step into our finished spaces and draw back a wet sock!

Immediately you have visions of peeling back carpet, replacing underpad, what if it’s in the walls, what if there’s already mould, what if there’s a crack you missed, what if the foundation needs to be fixed, what if….what if….next thing you know you’ve spent $100,000 on a basement/foundation redo!! Well let’s roll it back a bit and go over the list of things to check before you start shopping for contractors.

With this kind of winter to rapid spring thaw, some yards became lakes and the melting snow had no way to work it’s way down the frozen ground. With water sitting close to the foundation the subsoil around your house is likely to thaw first, given that your home is giving off heat. So, following the path of least resistance, the water will make its way downhill, following the grading around the house.

What to do?

So here is check No. 1….walk around your house this spring and look at the grading – does the land slope in towards your house, or away? It is the nature of back-fill to settle over time, and most of us don’t pay a whole lot of attention to what happens at the sides, back or front of our homes. A nice gentle slop away from the house in all directions is what you are going for.

Grading

Check No. 2 – look for any downspouts that are letting water sit next to your foundation – if they are, run out and pick up some inexpensive downspout extenders to get the water at least 6ft away from your home.

Downspout extenders

Nine times out of 10 this will take care of the seepage issues. Remember, concrete is a porous material. Any amount of water that stays near the foundation will make its way through. With seepage that migrates through concrete over time, the evidence is in something we call efflorescence – it looks like chalk on the inside of the concrete. Completely normal if your grading lets water sit close by.

water migration through concrete

If the efflorescence is on the floor instead of the walls – then this may be an indication that your weeping tile system is blocked, or due for a change.

Ok – now the outside of the house has been dealt with but you still have seepage – NOW call a professional, but 9 times out of 10 the simple grading and downspout fixes will work!

For more information, or to know what professionals to call contact us at www.myottawateam.com!

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Another Miracle Home for Sale

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HIGH DEMAND AND LOW SUPPLY CONTINUED TO CHARACTERIZE VANCOUVER’S AND TORONTO’S HOUSING MARKETS THROUGHOUT 2016 AS COMPETITION FROM BUYERS FOR LIMITED INVENTORY OF SINGLE-FAMILY HOMES PUSHED PRICES HIGHER.

The average residential sale price increased 13 per cent in Greater Vancouver to approximately $1,020,300 and rose 17 per cent in the Greater Toronto Area (GTA) to an estimated $725,857. Although demand remains high in both urban centres, limited inventory in the freehold market, the new 15 per cent foreign-buyer tax in Vancouver and the recent tightening of mortgage rules by the federal government are expected to soften market activity in the short term. In 2017, RE/MAX estimates average residential sale price will increase by two and eight per cent in Greater Vancouver and the GTA respectively.

Regional markets in close proximity to Canada’s highest-price cities continued to experience steady interest from local move-up buyers and buyers from these cities (“move- over” buyers) who are looking to nd a balance between affordability and square footage. This year there were considerable year-over-year average price increases in Barrie (16 per cent), Hamilton-Burlington (20 per cent), the Fraser Valley (20 per cent) and Kelowna (14 per cent).

Click to Read the Full National Summary

The RE/MAX 2017 average residential sale price expectation for Canada is an increase of two per cent as Canadians continue to see home ownership as an important milestone as well as a good investment.

Download Full Report

Victoria

Greater Vancouver Area

Fraser Valley

Kelowna

Calgary

Edmonton

Saskatoon

Regina

Winnipeg

Windsor-Essex

Sudbury

Kitchener/Waterloo

Hamilton/Burlington

Barrie

Greater Toronto Area

Kingston

Ottawa

THE HOUSING MARKET IN CANADA’S CAPITAL REMAINED STABLE IN 2016 WITH MODEST INCREASES IN BOTH THE NUMBER OF SALES AND THE AVERAGE RESIDENTIAL SALE PRICE.

The average residential sale price grew one per cent year-over-year, from $367,632 to $370,940. The number of sales between January and October rose to 13,834 in 2016 compared to 12,964 during the same period in 2015.  For more information, please call the BGM Real Estate Team at 613-558-8000!

Read Ottawa’s Full Report

Montreal

Quebec City

Saint John

Halifax

Charlottetown

St. John’s and Area

(more…)

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Despite the fact that one of the hottest times of year for real estate appears when the spring flowers start blooming, that doesn’t mean the market is completely cool for the rest of the year for any buyer or seller. In fact, we are heading into a very popular time of year for prospective buyers and sellers across Canada. As some prepare for summer to come to an end, and others are busy with the back to school season, some Canadians are doing their research to find out what to expect as a buyer this fall.

With the shorter days and cooler weather beginning to make an appearance, it is very clear that fall is on the way, and if you are one of the many entering the real estate market, you may be wondering what to expect. Fortunately, we have compiled the top things you need to consider as you begin your search for the perfect place to call home.

Location, Location, Location & Weather: We all know it is all about location when it comes to finding your dream home, but before you find the right location, you need to consider the weather. Planning your search too late into the season may mean you are battling Mother Nature so the earlier you begin your search, the better.

Timing is Key: Although your busy summer is winding down, you certainly aren’t working with a clear schedule. Between back to school and the holiday season, finding the perfect time to begin your search is imperative to your overall success and is something you should expect as a buyer this fall.

Decision Time: Although there isn’t as much inventory as you would typically find in the spring, there are still many home to choose one which is why narrowing down your options can be challenging. Using these tips and our House Hunting Comparison Checklist will help when it comes time to make your decision.

The Price is Right: As we get closer and closer to the holidays, you may begin to worry you are running out of time. With the added pressure, you may be tempted to make a decision by increasing your budget, but that will come back and haunt you in the long run. Make sure you plan your budget early in the buying process with help from our Monthly Home Budget Planner.

Make the Move: If you got a head start on the fall selling season and are ready to make your move, we have just the thing you need as a Buyer. Getting home and organized before the holidays is your main goal, and this moving checklist will help you do just that as quickly and efficiently as possible.

As we begin to see the leaves fall off the trees and the familiar sights and sounds of this beautiful season, these tips will be exactly what you as a Buyer need to find a new house to call home this fall.

For more information about buying and selling homes – be sure to click through our website – www.myottawateam.com. You can also click the social media links to visit our Facebook page and YouTube channel.

(Copyright © 2015 RE/MAX Ontario-Atlantic Canada Inc. All rights reserved)

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It’s that F-word season again…FALL!

Fall colours

Air conditioners are turned off, gardens are put to bed, leaves turn into colours that become so vibrant you have to stop and stare. Mornings and evenings are filled with smells that are unique to fall…a mix of earth, water and summer campfires smoldering to their winters end. Sometimes we are more like bears than we think…dreams of warm sweaters and comfortable flannel bring small smiles and feelings of hibernation…and maybe hot chocolate!

BUT WAIT! 

Before Fall becomes winter

If you are anticipating a move, a relocation or a posting this coming 2017 APS, head on out to your front and back yards over the next week before fall officially begins and take some pictures of your green lawn, that pool you used all summer, the trees full of leaves, the flowers and gardens you spent hours tending to on your knees.

You will thank yourself, and we will thank you too, when you list your house in the winter or spring when the pool is still covered, frozen or green, your grass is brown or snow covered, trees are bare… you get the picture!

Grab those fall shots before its too late

Your summer and fall photos of the front and back of your yard will help to effectively market your home no matter how much snow is in the forecast! When we list your home in the “off” season it helps if we can show any prospective buyers how amazing your home looks in the spring and summer. It is particularly helpful in the dead of winter when buyers can’t even see the topography of your lot.

This is your mission, should you choose to accept it. 🙂 Have fun and don’t forget to call us at 613-558-8000, email us at [email protected], visit our website www.myottawateam.com if you are considering a move in 2017!

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Here we are – a full 180+ days into the 2016 Ottawa Real Estate market and we here at BGM Real Estate Team have noticed both positive and negative aspects to our local Ottawa Market. As many of you have undoubtedly heard time and time again, markets are cyclical. They rise and fall based on supply and demand, interest rates and the global economic happenings in general, helped AND hindered in spots by government regulation.

So where is our market cycle right now? Are we up? (Sellers market) or down? (Buyers market) If you read the papers it would appear the market has gone completely mad with every home getting an incredible number of offers, driving prices ever higher. While this may certainly be the case for Vancouver and Toronto, it is most certainly not the case here in the Capital.

The Ottawa Real Estate Market is Balanced

We have a very balanced market at the moment, with a few areas of exception. But let’s divide that up into a few sections so we can discuss the various pieces that make up the Ottawa Market. Let’s talk about Mortgage money, geography and expectations. You will find the last item, in fact, to be the most integral to understanding Ottawa’s market.

The cost of borrowing money in order to buy property has never been so low. With slow US economic growth, weak Canadian exports, low oil prices and consumer spending, our interest rates remain attractive. As Stephen S. Poloz, Governor of the Bank of Canada has put it “For the past 18 months, the biggest issue for our forecast has been tracking how the Canadian economy is adjusting to low resource prices. In the first instance, this has meant a big drop in investment spending, especially in the oil patch. It has also meant a lower value for the Canadian dollar and two interest rate cuts during 2015.”

Historically low rates have allowed Buyers into property ownership in record numbers. Even with safeguards in place (every borrower must qualify for a 5% rate, 5 year fixed term amortized over 25 years) the demand for property is quite high. This is a definite positive for the Ottawa market and we have certainly met with an abundance of qualified buyers so far this year.

So we have one in the positive column – lots of Buyers out there looking for their first or next home. Now where are they looking? The good news is there are enough Buyers out there that all neighbourhoods are getting traction in the market. But there is certainly a lean towards the centre and west ends of the city. Given that Ottawa is a very transient town, cycling heavily through government relocations, private industry changes, new immigrant growth, as well as the normal ebbs and flows we see in real estate, the Buyers are very attentive to the fact they will at some point in their 3-5 year plan be a Seller. Therefore, they are attuned to the growth patterns in the city. With calls for sustainable building and reducing the carbon footprint the desire to live downtown in high.

In addition, the Canadian Forces are opening an enormous Campus in the west end, the RCMP already moved into their campus in the south-west of the city, Outlet shopping, sports venues and all that would appeal to folks on a day-to-day basis cropping up at incredible speed in the centre and west – those markets tend to be faster, and more expensive and have been for the last 3-5 years.

Does that mean the rest of the City is in a slump? Not at all. Buyers are shopping for the best fit – proximity to their employment, schools, activities and friends and family – so we have been shopping with them in all areas of the city.

But what is it we mean by faster or slower? Are the prices higher overall? Every area, indeed every neighbourhood, has its own market, its own flavour. We hope that this is one of the reasons you hire us – as expert guides to the investment values and personalities of those neighbourhoods. When breaking down the market into the various neighbourhoods, some are certainly hot, but as a whole the Ottawa market is nicely balanced, allowing Buyers choice in their investment.

Ottawa Market increase over time is very positive but not outrageous

The city has seen growth every single year in the residential class. Condominiums are having a rougher time, especially in the downtown area…but we think perhaps another article should explore this in greater detail.

For Sellers a balanced market can be a bit more of a trial, especially given the years from 2000-2013 were completely in their favour. Everything sold, in any condition for more than a decade! That is a difficult perception to turn around. Geographically, Sellers in many neighbourhoods are waiting longer to sell their homes. The timeframe in 2016 seems to be sitting between 60-90 days. By no means is it a tragically long time. When we became REALTORS® in the late 1990’s the market timeframe was up to a year to sell, with list to sell ratios sitting at about 90% of asking. (Folks were negotiating anywhere from $10,000 to $50,000 off the asking price.) So on the geographic point we have both positive and negative. Positive for the buyers as there is more supply, negative for the Sellers for the very same reason.

Now we come to what we think is the most important point of this Ottawa market – Expectations. Perhaps some of what we have learned will help you – whether you are a Buyer, or a Seller.

Housing Expectations vs. Reality

Let’s start with what we have seen in Sellers expectations. They have diligently watched the news, seeing reports of rising housing prices, low interest rates and competition amongst buyers for a decent home. They have also loved their homes and have deep emotional attachments (for the most part) to the place where their memories have been made. It is hard for any Seller (us included) to detach from their home and put it in the framework of a “market” of homes and how they stack up against others on their street, in the their neighbourhood and in their general area. As professional REALTORS® we are the messengers of market reality – good and bad. In a balanced market, we tend to have difficult, yet honest discussions with our Sellers about how their home presents itself to today’s Buyers. It is a testament to our passion for our clients that we bring you not only the good news, but the bad. We navigate the experience together – from pricing, to home improvements, staging, marketing, feedback….good, professional REALTORS® are there for every step. If we have one comment for our Sellers, it is that our expertise stops short of a Crystal Ball. We have no supernatural powers when it comes to the market. The day we say we have seen it all is the day we should walk away. We give you the very best we have and hope the sale doesn’t take too long.

The other part of the expectation equation are the Buyers – what do they expect? We often laugh with our first time buyers that they need to stop watching HGTV immediately upon deciding to find a home. They have been conditioned to expect the last 5 minutes of any real estate related show in every home they see OR they see a problem around every corner. Homes are imperfect things – they are made with wood, bricks, drywall, vinyl. Things that can expand, contract, break, wear down. Homes are exposed to water, wind, and sun. They sit on rocks, and sand, and clay. Each house will have a personality that reflects its owner – we see it in their choices for flooring, paint, counter top and landscaping.

We understand that today’s buyers have even less time to dedicate to a home’s overall maintenance – the very nature of employment has changed. Work commands a staggering amount of time in people’s lives, so their priorities have changed as well – seeking more balance. We try to meet those expectations, as well as educate Buyers on the nuances the TV programmes leave behind. Things like – Not every house has a problem, educating between big problems and small ones, how cosmetics of a home can change for very little, and just because it is a bit dated does not mean it doesn’t work.

It is in the analysis of the expectations of both Sellers and Buyers that we can determine the type of market Ottawa is having. When we have to help manage the expectations of BOTH sides – well, that truly is the sign of a balanced market.

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