Ottawa Real Estate News from Ron DeCaen April 2018   
  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


 
If your teen's heading off to college or university this fall, you’ll need to start thinking about accommodations. This month’s article explores the option of purchasing an investment property for them to live in and manage.
 
There’s also some advice on how to babyproof your home as well as a few spring home maintenance tips to help you get ready for the nice weather that’s right around the corner!

Thanks so much for checking out this month's newsletter. Please get in touch if you 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 Update 
Buyers get a jump on the Ottawa spring market.

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 Ralph Shaw, President of the Ottawa Real Estate Board.

“Properties that are priced well are selling quickly with days on market dropping to an average of 43 days from an average of 54 days on market in March 2017.”

The average sale price of a residential-class property sold in March in the Ottawa area was $447,561, an increase of 8 per cent over March 2017. The average sale price for a condominium-class property was $275,592, an increase of 0.7 per cent from March 2017.

“The most active price point in the residential market continues to be the $300,000 to $449,999 range, accounting for 46 per cent of the market. In addition, the $500,000 to $750,000 market is a price point that is showing robust growth representing 21 per cent of the residential homes sold in March,” Shaw acknowledges.

“In the condominium market, between $175,000 and $274,999 is the most buoyant price point, accounting for 51 per cent of the market. We continue to believe it is due to low interest rates and the lack of supply of rental inventory pushing renters into the market,” he adds.

“Overall, as a result of the stable pricing in the condominium market and reasonable increases of 8 per cent in the residential market, Ottawa continues to be a healthy and vibrant real estate market,” Shaw concludes.

In addition to residential and condominium sales, OREB Members assisted clients with renting 551 properties since the beginning of the year.

The Ottawa Children’s Festival 
Enjoy a variety of live performing arts from around the world.

The Ottawa Children’s Festival returns to LeBreton Flats Park between Friday, May 11th and Tuesday, May 15th.

This annual event, which has been running since 1985, celebrates the very best in children’s live performing arts from around the world.

There will be a variety of fun and interactive activities for everyone to enjoy before and after the performances. Activity zones, entertainers and hands-on explorations are just some of the interactive activities to look forward to.

The Ottawa Children’s Festival is not to be missed so bring along the entire family and enjoy crazy acrobatic stunts, playful theatre, unbelievable dance routines, incredible music and much more!

Buying a College Crib for Your Kid 
This exciting life event could be a great investment opportunity!

There's an air of excitement when your kids move out to study at college or university but it can also be a very expensive time.

Purchasing an investment property may be one way to offset those expenses. The idea is to cover the mortgage payments with the rent collected from roommates while your child manages and maintains the property.

As with any home purchase, you’ll want to carefully evaluate local market conditions so it’s important to select the right real estate agent. If you don’t already have someone you feel comfortable with, let me know and I can refer you to a professional who has a firm grasp of the local market.

Local rents, vacancy rates and zoning laws should also be examined. Finally, it's important to consider your long-term goals and determine whether you plan on renting it out once your child graduates as this will affect the rate of appreciation.

Specific purchasing details such as co-signing the mortgage or listing your child on title should be discussed with your financial planner and mortgage advisor. There are pros and cons to different ownership scenarios so you'll want to examine what makes sense for your specific individual situation.

Purchasing an investment property that's managed by your child is a decision that shouldn’t be taken lightly but it's certainly an option worth considering. It could end up being a great opportunity but make sure you do your homework so you can carefully weigh up the risks and rewards. When you crunch the numbers, you may just find that purchasing a campus crib makes great cents :)

The Foolproof Way to Babyproof Your Home 
Little ones love to explore so be sure to properly prep your home.

The arrival of a new baby brings many responsibilities, one of which is babyproofing your home. Here are a few things to keep in mind when preparing your home for your new little bundle of joy:

  1. Slam Jam - Install door stops/holders so fingers don't get caught.


  2. Tie Up Loose Ends - Tie up blind and curtain cords so they’re out of reach.


  3. Cabinet Caution - Make sure cabinets and drawers are equipped with safety latches.

  4. Don’t Cut Corners - Cover any sharp corners such as those on coffee tables with foam.

  5. It's No Shock - Cover electrical outlets with safety plugs so that they're not able to shove keys or other objects into them.

  6. Strong Attachments - Securely tether any furniture that could tip over such as dressers and shelves so they won’t come tumbling down if your little one starts climbing.

  7. Supermax Security - Install a baby gate at the top and bottom of your staircase. Make sure they're attached directly to the wall and not just pressure mounted.

It’s best to babyproof your home before your little one arrives as it'll be the last thing on your mind when you're a tired new parent. Getting down on all fours and crawling around will help you see hazards from their perspective.

Spring Home Maintenance Tips 
It's the time of year to give your home a complete physical.

Spring has sprung so it's time to take a good look around your home, both inside and out and conduct some preventative maintenance. Here are just a few ideas to get you started:

  • inspect your attic for rodents and roof leaks

  • inspect your roof and the flashings around your chimney

  • check seals around windows/doors and fix damaged screens

  • repair fences, posts, steps, decks, railings and outdoor furniture

  • clean out your gutters and make sure all of the downspouts drain away from your foundation

Your home is likely your biggest investment so it's important to perform regular maintenance in order to keep it in tip-top shape. If you set aside a couple of days now, you'll be able to sit back, relax and enjoy your home when the summer finally arrives!



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.

Not meant to solicit clients already under contract.