Reverse Mortgages What to consider when considering a reverse mortgage… Reverse mortgages allow homeowners to use the equity in their home as a loan, it’s a financial strategy that is getting more common. This may be in part because a large segment of Canadian Baby Boomers (born between 1946-1964) “is on strong financial footing and on a clear path to being mortgage-free, if not already.” But what exactly is a reverse mortgage, and how does it work? Let’s examine the concept of a reverse mortgage, and some of the benefits and downfalls. What is a reverse mortgage? A reverse mortgage is a
Read More
Archives for Ottawa Real Estate
July 2018 in Ottawa Real Estate: Market Snapshot
July 2018 in Ottawa Real Estate: Market Snapshot Ottawa Real Estate Market Snapshot: July 2018: We continue to see a healthy real estate market in Ottawa, with inventory levels are improving. Have questions? Looking for specific neighbourhood stats? Message us, we’d love to help!! A Sizzling Summer for Ottawa Real Estate [posted by the Ottawa Real Estate Board] August 3, 2018 Members of the Ottawa Real Estate Board sold 1,614 residential properties in July through the Board’s Multiple Listing Service® System, compared with 1,524 in July 2017, an increase of 5.9 per cent. The five-year average for July sales is
Read More
The Search Is On – Listings: How the majority of buyers & sellers find listings in 2018
As the age of technology and the Internet continues to thrive, many industries have developed over the years to incorporate the constantly changing world of advertising and reaching potential clientele. Long gone are the days of people driving around on the weekends in search of potential listings, and fewer are checking the paper in search of their potential dream home. Despite these changes, the housing market is still booming and buyers and sellers alike are finding their future properties. The real question is, how has the search for real estate listings changed? The majority of that question can be answered
Read More
Listed, Viewed, Sold! Steps in the home selling process
Listed, Viewed, Sold! Steps in the home selling process Selling your home is a big task, and an important one to pay critical attention to – as your house is typically your biggest asset. Ensuring that you’re ready to start this journey is key, and being as prepared as possible can ensure your house is sold for its’ top value. There are many important steps along the way when it comes to selling your house, and to take off some of the pressures, we’ve laid them out for you in this article. Find a realtor Your realtor is going to be
Read More
Choosing a Realtor That’s Right for You
Choosing a Realtor That’s Right for You When it comes time for you to buy or sell your home, you’ll want to be sure that you have the guidance and support necessary for you to make a decision you’re most comfortable with. With that said, finding the right Realtor is just as (if not more) important as finding the right home. We know that by choosing Royal LePage Team Realty you are trusting us to ensure your real estate transaction goes smoothly and that your interests and investments are protected, our REALTORS® take this responsibility very seriously. Selling your home? Albeit a
Read More
Home-Grown Issues: The impacts of home-grown marijuana and legalization
Home-Grown Issues: The impacts of home-grown marijuana and legalization Many Canadians are awaiting this July 2018 with much anticipation, as Bill C-45 will allow the legalization of marijuana, including their ability to grow up to 4 plants within their residence. However, without the proper protections and awareness in place this new legislation could cost home owners thousands, or even their mortgage. The increase of private residence grow-ops that will begin following legalization is a major concern for the real estate industry. Experts say that everyone from “buyers, to sellers, to real estate agents, and home inspectors” will be affected by
Read More
Buying a Home: What The Extras Cost
Contracts and rentals to consider in home ownership When it comes to buying a home, there are always additional fees to be considering when you make an offer. Typically, a first-time home buyer needs to be aware of the costs associated with buying a home – legal fees, mortgage rates, home insurance, closing costs, property taxes, land transfer fees…But what about those little extras not everyone considers? The contracts and rentals associated with the home such as furnaces, hot water tanks, and in some locations even your septic tanks – and what that could cost you. The main point is
Read More
Hot Real Estate Market in an Icy April
The Spring market continues to buzz in Ottawa real estate, with the number of sales up over 13% in April in spite of inventory levels being down 23% over this time last year. Home buyers are seeing more competition, which is good news for sellers. Certainly we are seeing more multiple offers and higher sale prices, however, with prices still reasonable compared to income in Ottawa real estate these factors aren’t stopping buyers. Hot Real Estate Market in an Icy April May 3, 2018 Highlights from the Ottawa Real Estate Board “Full employment and reasonable house prices in proportion
Read More
What Home Buyers Should be Looking for When Viewing a Property
You’ve done your research, found the perfect Realtor, crunched the numbers, created your list of must-haves and now it’s time to start the exciting process of HOUSE HUNTING! When you’re looking at homes for sale it isn’t always easy to look beyond the cosmetics. Not to worry, we’ve created this handy graphic to help home buyers to stay focused.
Read More
March Market Snapshot
Buyers Get a Jump on the Spring Market taken from the Ottawa Real Estate Board April 5, 2018 Members of the Ottawa Real Estate Board sold 1,660 residential properties in March through the Board’s Multiple Listing Service® System, compared with 1,478 in March 2017, an increase of 12.3 per cent. The five-year average for March sales is 1,339. March’s sales included 358 in the condominium property class and 1,302 in the residential property class. “Inventory continues to fall below normal average, but we are still seeing more sales than last year because listings are not staying on the market,” states
Read More