Archives for Buyers

The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care

  According to this realtor.com post, the number of real estate appraisers is dropping to the point where parties on both sides of real estate transactions could suffer. Since most residential mortgages need an appraisal before a sale closes, a shortage of appraisers will affect buyers, who rely on accurate valuations to structure their offer, and sellers, who can lose a deal if appraisals come in low.   The Appraisal Institute notes the number of appraisers has dropped 20% since 2007 and predicts a 3% annual decline for the next decade. Fewer appraisers means longer waits, which could delay a closing. That
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5 must-do’s for first-time home buyers

  This homeownership.ca article by real estate lawyer Mark Weisleder gives the essentials for the novice buyer.  Start by calculating what you can afford (general rule is 30% of gross income).  Then, figure out what is important to you and search for properties with those features.  Ask the seller about flooding, leaks, mould, insurance claims and neighbourhood problems.  Pay for a thorough home inspection by a qualified inspector and buy an after-sale warranty.  To read more click here. The post 5 must-do’s for first-time home buyers appeared first on Team Realty. Source: Blog
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Underwriting insights! What Every Homebuyer Should Know Before Applying for a Mortgage

  This homeownership.ca post tells why an understanding of underwriting is a key advantage for home buyers seeking a mortgage.  Work with a mortgage professional to get pre-approved for a mortgage so you know your price range and can make an offer instantly.  The pre-approval process determines the size of mortgage and type of home you can afford.  You will need to assemble your credit report and other documentation (financial and employment history, creditworthiness, income) the lender or mortgage insurer needs to process the application.  The documentation required varies depending on individual circumstances.  For example, self-employed applicants should be prepared
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Ottawa Real Estate Update: November 2015

Mild weather and post-election enthusiasm spurs on home buyers!   Statistics are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties. If you are curious about the value of your home and/or specific neighbourhood statistics we would love to help. Contact us.         Information below provided by the Ottawa Real Estate Board December 3rd, 2015 Members of the Ottawa Real Estate Board sold 990 residential properties in November through the Board’s Multiple Listing Service® System, compared with 891 in November 2014, an increase of
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Not Only Millennials Want Walkable Communities

  A walkable community is well-planned, compact and designed for people to walk to work, school, parks restaurants and activities as a form of everyday transportation.  According to a National Association of Realtors survey, more and more buyers want to live in walkable communities.  The study found that fully 12% more Millennials, the generation born between the mid 1980′s and early 2000′s, would rather walk to their destination than drive.  But, fitness enthusiasts and eco-friendly individuals also desire walkable neighbourhoods.   Aging In Place   Older Canadians want neighbourhoods that better fit their changing requirements.  As baby boomers enter their retirement years,
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Ottawa Named 3rd Best City in the World for Quality of Life; Here’s Why

  In this Point2Homes post, Nadia Balint attributes Ottawa’s stellar, but unsurprising (to locals),  ranking in the recent Numbeo Quality of Life Index to three characteristics: Ottawa is young and fun with almost half the population under 35, it promotes and supports family life and the housing is relatively  affordable.  The Index rates factors like purchasing power, safety, property price to income ratio, and pollution.  To read more click here. Source: Blog
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Income Properties: What You need to Know about Buying an Investment Property

“Don’t wait to buy land, buy land and wait” – Will Rogers     Income Properties: Are you Ready?  Owning a rental property may seem like a licence to print money.  Interest rates are low, the Ottawa Real Estate Market is stable …what could be easier?  Buy a property, lease it, collect cheques and plan your retirement.  But…before purchasing an income property, you should be aware of the benefits and drawbacks.   Advantages of Income Properties: You pay less tax. Because your secondary property is a business, you can deduct certain expenses from your income (mortgage interest, property taxes, insurance,
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Best September on record for number of Ottawa Real Estate resales!

What a great month for Ottawa Real Estate! See below a snap shot of what’s happening in the Ottawa Real Estate Market from the Ottawa Real Estate Board  published October 5th, 2015 Interested in a specific neighbourhood?  We have access to all of the latest real estate statistics at our fingertips! Please contact us and we will send you a no-cost report on the areas you want to know about.    From OREB news: Members of the Ottawa Real Estate Board sold 1,244 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,131 in September 2014, an increase of
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Home Buyers: Working with a REALTOR®

Real estate has undoubtedly become one of the biggest industries in the world.  Buying and selling of real estate property are obviously major financial undertakings for anyone and these transactions need to be executed in a professional way. With this in mind, working with a REALTOR® is crucial in selling or buying deal of real estate property. In Ottawa, REALTORS® have their own professional association known as the Ottawa Real Estate Board. From this association, our fully trained REALTORS® have insider access to MLS statistics about real estate activity, sales of property, the median price and market conditions. Since the interpretation of these statistics is
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