Ottawa Real Estate News from Ron DeCaen July 2016   
  Real Estate News




Ron DeCaen
Sale Representative

Action Power Team Ltd. Brokerage
15-1420 Youville Drive
Ottawa, Ontario
613.797.9366 (cellular)
613.837.3800 (office/24/7 pager)
www.OttawaListings.com


 
Multigenerational living is making a huge comeback as it provides solutions to a variety of social and financial obstacles.  This month’s feature article offers a few points to consider if you're thinking about sharing a home with extended family.

There are also some suggestions on how to create a backyard sanctuary for birds and butterflies as well as some simple ways to help your home feel more spacious.

Thanks so much for taking the time to check out this month's newsletter.  Please don’t hesitate to get in touch if you ever have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

Ron

In this issue...
Ottawa Real Estate Market Report 
June was a record breaking month for Ottawa resales!

Members of the Ottawa Real Estate Board sold 1,985 residential properties in June through the Board’s Multiple Listing Service® System, compared with 1,691 in June 2015, an increase of 17.4 per cent.  The five-year average for June sales is 1,717.

“Sales this past month contributed not only to the highest June on record, it also turned out to be the highest sales in any month ever in the history of the Ottawa market,” remarked Shane Silva, President of the Ottawa Real Estate Board.

“The closest comparable sales figures are from May 2009 with 1,967 units sold.  Normally the resale market has a slight dip in units sold from May to June each year.  May is routinely the peak month for units sold; however, this year June sales increased by 3.3 per cent over May.”

“It’s hard to say what fueled this surge for June. It could be a combination of great weather and buyer activity from other markets, or it could be an anomaly.  We will be closely watching the trend over the summer when sales typically slow down as buyers turn their attention to summer activities,” Silva went on to explain.

June sales included 331 in the condominium property class, and 1,654 in the residential property class.  The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases, and timeshares.  The residential property class includes all other residential properties.

“Year-to-date units sold for the first half of 2016 are also performing quite well compared to the first half of last year, up 5.4 per cent.  While year-to-date average sale price remains the same compared to last year,” says Silva.  “A total of 3,220 residential and condo properties were listed in June, capping the month off with approximately 8,300 properties on the market, down 11.5 per cent from June 2015.”

The average sale price of a residential-class property sold in June in the Ottawa area was $399,382, a decrease of 1.3 per cent over June 2015.  The average sale price for a condominium-class property was $264,913, a decrease of 2.4 per cent over June 2015.

“Residential two-storey and bungalows continue to have the highest concentration of buyers in June,” says Silva.  “In addition to residential and condominium sales, OREB Members have assisted clients with renting over 1,500 properties since the beginning of the year.”

Mark Your Calendar for Ottawa GreekFest! 
Don’t miss out on one of Ottawa’s longest running cultural festivals!

This exciting annual event takes place from August 11th - August 21st at 1315 Prince of Wales Drive, between Baseline Road and Meadowlands Drive.

Ottawa GreekFest features live Greek music, traditional dances, delicious Greek cuisine, cooking demonstrations, dance lessons, craft and cultural exhibits, souvenirs, raffles and a variety of children’s activities.

Come out and enjoy this fantastic free event that offers an endless amount of fun for the entire family.  Hope to see you there -- OPA!

Sharing a Home with Extended Family 
Multigenerational living is a trend that continues to gain popularity!

A growing number of buyers are looking for homes that will accommodate extended family in order to reduce costs and bring them closer together.

A primary reason is that debt saddled millennials oftentimes can’t afford their own place.  This is especially true given the rising price of homes.

From a social perspective, feelings of isolation and loneliness are often alleviated when grandparents live with extended family plus it’s much easier to care for an ailing parent when you’re living under the same roof.
 
The shift has also been fueled by parents wishing to cut childcare costs.  Having a live-in babysitter is extremely helpful and the close relationship children build with extended family is a huge bonus.  Conflicts can however arise when relatives live in close quarters so here are a few things to consider:

  1. Know Your Needs - Think about the type of home that will best suit your situation.  Garage apartments, in-law suites and refurbished basements are all popular options.  Spacious rooms to accommodate large family gatherings are also a huge plus.

  2. Buffer Zone - Determine how much space you’re willing to share and discuss boundaries and what exactly constitutes privacy.  You don’t want to constantly be arguing about how your father-in-law hogs the bathroom every morning!

  3. Be Clear - Agree on each family member’s obligations in advance such as childcare, cooking, cleaning, etc. so that everyone’s clear from day one.  Regular house meetings will also help minimize disagreements.

Multigenerational living is definitely becoming more and more popular.  The key to successfully living under the same roof is being able to compromise, to have mutual respect for one another and to have an open line of communication.  If this can be achieved, living with extended family can be a true joy!

A Quick Chat About the Birds and the Butterflies 
Your garden will spring to life with the addition of birds and butterflies!

Creating a haven in your garden for birds and butterflies takes a little planning but it’s well worth the effort.  The following simple tips will help you turn your garden into a sanctuary:

  1. Go Natural - Avoid using pesticides as they’re harmful to both birds and butterflies.

  2. Water Works - Install a bird bath or fountain for your feathered friends to bathe and drink from.

  3. Food & Shelter - Trees and shrubs that bear fruit, nuts and berries not only provide food but also offer shelter.

  4. Bloom Boom - Butterflies are attracted to pink, orange, yellow, red, purple & blue shades while butterfly larvae feed on dill, fennel and milkweed.

  5. Sun Seekers - Butterflies like sunny locations that are sheltered from the wind.  A few flat stones will give them a place to rest while warming in the sun.

If you're looking to breathe some new life into your garden, just take a few steps to rally up some winged wildlife!  Not only will you provide a place for them to call home but you’ll also create an oasis that the whole family will enjoy.

A Complete Waste of Space 
Storage space sells so don’t forget to clean out your closets!

When selling your home, it’s often the small things that make a huge difference.  Storage can be a critical factor for buyers so here are two simple tips that will make your home seem larger:

  • Remove at least half of all items from closets and cupboards so they appear larger and get rid of anything on the floor.  Use the same hangers (no wire!) throughout.

  • Organize the remaining items so your closets and cupboards look tidier.  Make sure to neatly fold up towels and linens and use attractive bins and boxes to organize any loose items.

The points above may seem obvious but they’re often overlooked.  Remember that storage space sells and if buyers see your closets bursting at the seams, they’ll assume your home isn’t big enough for you…or for them.



PS Are you sick of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started.

Not meant to solicit clients already under contract.