Ottawa Real Estate News from Ron DeCaen January 2019   
  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


 
Pursuing a job opportunity in a new city can evoke a variety of emotions. If you're thinking about relocating, this month's article offers some great advice that’ll help make the transition go smoothly.

There are also a few handy home hacks that will help make your life a little easier as well as some great reasons why you should switch your phone to airplane mode every once in a while.

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 
Another stellar year for Ottawa’s real estate market!

Members of the Ottawa Real Estate Board sold 663 residential properties in December through the Board’s Multiple Listing Service® System, compared with 765 in December 2017, a decrease of 13.3 per cent.

December’s sales included 471 in the residential property class, a drop of 15.7 per cent from a year ago, and 192 in the condominium property class, a decrease of 6.8 per cent from December 2017.

Year to date activity increased by 2.4 per cent from 2017. The total number of residential and condo units sold throughout all of 2018 was 17,476, compared with 17,065 in 2017. Residential property class sales decreased slightly to 13,418 from 13,478 in 2017 and condominium property class sales were up 13.1 per cent with 4,058 units sold in 2018 versus 3,587 in the previous year.

“For the last decade, we have experienced steady growth in our real estate market from volume to prices; however, the past two years have jumped significantly in activity with a 12.6% increase in unit sales from 2016. Ottawa, and its surrounding area, has excellent employment numbers and has proven to be one of the most affordable larger cities in the country,” proclaims Ralph Shaw, Ottawa Real Estate Board’s 2018 President.

“What has come to a head in 2018 is the overall shortage of inventory which is extreme in certain pockets of the city. While this has caused unit sales to slide in the residential market, it has fueled the condominium market which has recovered and carried us through much of 2018. We have been predicting this will bode well for new construction in delayed high-rise projects,” he adds.

“Another significant factor affecting the market in 2018, and first-time homebuyers in particular, is the mortgage stress test – an attempt by the federal government to cool two major markets in the country.  It has also unfortunately made move-up buyers less likely to take that step and free up entry-level options, which is an important part of the resale market,” Shaw points out.

The average sale price of a residential-class property sold in December in the Ottawa area was $453,011, an increase of 4.7 per cent over December 2017. The average sale price for a condominium-class property was $278,295, an increase of 9 per cent from this month last year. Year-end figures show an average sale price of $446,661 for residential-class properties in 2018, a 5.1 per cent increase from 2017 and $278,316 for condominium properties, up 3.2 per cent from last year.

“In 2019, we expect the economic fundamentals of supply and demand to be at play with upward pressure on prices due to limited supply and increasing demand. Buyers do have affordable options in outlying communities if they are willing to commute — or they will simply have to pay more provided they can qualify. New builds and purpose-built rental housing could help ease some of the pressure, particularly if builders are able to provide a variety of quality options allowing for more movement in the market,” Shaw concludes.

The $300,000 to $449,999 range continues to represent the most active price point in the residential market, accounting for nearly 45 per cent of December’s sales while almost one in four sales were in the $500,000 to $750,000 price range. Between $175,000 to $274,999 remained the most prevalent price point in the condominium market, accounting for 55.7 per cent of the units sold. Year-end figures echoed these dominating price points holding 45.6 per cent of the residential market and 49.8 of the condo market respectively.

Ottawa's 41st Annual Winterlude 
Don't miss this incredible festival that celebrates all things winter!

Winterlude is a unique winter festival that transforms the Ottawa area into a beautiful winter wonderland every February!



This year, Winterlude falls between Friday, February 1st and Monday, February 18th. Events will be held at various venues across the city which are open every day including Family Day.

There are so many fun activities at this family-friendly festival including skating on the world’s largest skating rink, ice carving competitions, ice sculptures, snow slides and much more!



You can also watch dragon boats race down the frozen Rideau Canal Skateway at the Ice Dragon Boat Festival or check out the Accora Village Bed Race where costumed teams race decorated hospital beds across the ice for charity.



Rediscover the joys of winter with fantastic events that will appeal to everyone no matter how old you are. Hope to see you out and about!

Relocation, Relocation, Relocation 
Relocating to a new city can be an exciting yet overwhelming time.

The prospect of a work relocation means you'll need to be well organized as there’s usually not much time to get acquainted with your new area.

First off, determine what the cost of living will be in the new location. There's no point in relocating for a higher salary if the extra income will be eaten up by increased living expenses.

Make sure to also consider factors such as workload, expense accounts, travel expectations, job opportunities for your spouse and schools for the kids. Here are a few other points to keep in mind:

  1. Time is Money - Create a budget and a detailed timeline to help you stay on track.

  2. Recon Mission - Plan a trip to familiarize yourself with the local area or check out a few community websites if it's too far to preview in person.

  3. Check Yourself - A detailed checklist will help ensure everything goes smoothly which will reduce the stress that’s associated with a major move.

  4. Smooth Move - Select a real estate agent to sell your home and ask them to refer you to an agent in your new city who can help familiarize you with the local market.

  5. Take the Credit - Employers often provide relocation packages to help offset expenses such as temporary housing and moving costs. There may also be certain tax credits available.

Deciding whether or not to relocate can be very stressful. Not only are you trying to negotiate a career move but you'll also be starting a new life in an unfamiliar place. However, if you approach this process by paying close attention to all the details, you'll enjoy a much more positive relocation experience. Please don’t hesitate to get in touch if you have questions or need any real estate advice!

Handy Home Hacks 
These simple yet genius tricks will make your life so much easier!

Hacks are uncommon yet creative solutions for everyday problems. Here are five simple hacks for the home that will help make your life a whole lot easier:

  1. Towel Tip - Adding a dry towel to a load of wet laundry significantly reduces drying time which also cuts down on energy use.


  2. Sharpie Stain - If your child has decorated your hardwood floors with a magic marker, apply a bit of toothpaste with a damp cloth and watch it disappear!


  3. Blend Away - To remove stubborn stains from your blender, mix lemon juice and warm water with a tiny bit of dishwashing liquid and then blend for a minute.


  4. Watch Your Step - We all know that sinking feeling when a glass shatters leaving tiny shards everywhere. To make sure you get every last sliver, press a slice of bread over the entire area.

  5. Silence Squeaks - If your creaky wooden floors make you feel like you’re living in a haunted house, just sprinkle some baby powder between any open seams to lubricate the wood and stop the squeaking.

We all want an easier life and home hacks are a great way to accomplish that as they allow you to bypass and overcome some of life’s little problems. There are literally thousands of hacks out there so watch this space for cleaning, organizing and other life hacks that we’ll be sharing in future newsletters!

Switching to Airplane Mode 
If you think airplane mode is only for flying, then think again!

Airplane mode blocks your connection to cellular networks when you take to the skies but there are many other lesser known benefits to this often ignored feature.

Airplane mode also saves battery life, charges a phone quicker and it will even stop those annoying ads from displaying when you’re playing Candy Crush!

Smartphones can also be extremely distracting so if you’re down to the wire on a project, simply switch over to airplane mode for a quick notification detox so you can focus and get your work done.

Finally, if you’re concerned about electromagnetic field radiation, set your phone to airplane mode when your smartphone’s not being used for wireless transmissions as it will completely cut off any form of radiation.



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.