Ottawa Real Estate News from Ron DeCaen June 2015   
  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


 
Buying a home can be an emotional roller coaster but when you buy your second home, there’s twice as much to consider!  This month’s first article examines the pros and cons of buying first vs. selling first so that you’ll be able to make a decision that best suits your circumstances.

There are also some BBQ safety tips as well as a few simple ideas for decorating your outdoor space to help you get into the summer spirit.

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...
The Ottawa Resale Market Remains Steady and Strong in May 
Members of the Ottawa Real Estate Board sold 1,926 residential properties in May through the Board’s Multiple Listing Service® system, compared with 1,789 in May 2014, an increase of 7.7 per cent.  The five-year average for May sales is 1,812.

“The Ottawa housing market continued its strong performance in May, making it the best May for unit sales on record since 2009,” says David Oikle, President of the Ottawa Real Estate Board.  “Units sold are up 357 since April, increasing in both the residential and condominium property class.”

May’s sales included 342 in the condominium property class, and 1,584 in the residential property class.  The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked 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.

“The average cumulative days on market remains consistent at 72 days, compared to 74 last month,” says Oikle.  “Properties are moving consistently and inventory remains plentiful; labeling the Ottawa market as a Buyers’ market and allowing for average sale prices to remain very stable.”

The average sale price of a residential-class property sold in May in the Ottawa area was $411,791, an increase of 2.6 per cent over May 2014.  The average sale price for a condominium-class property was $266,940, a decrease of 4.9 per cent over May 2014.

“The hottest segments of our market for May were sales between $300,000 to $400,000, followed by the $200,000 to $300,000 range and then the $400,000 to $500,000 range,” says Oikle.  “Two -storey residential properties sold surpassed 1,000 units this month, continuing to have the highest concentration of buyers in Ottawa.  In addition to residential and condominium sales, OREB members assisted clients with renting 279 properties in May, and 1,155 since the beginning of the year.”

Celebrate Canada Day in the Nationís Capital 
Come on out and take part in Canada’s biggest birthday bash this July 1st!

Ottawa will be buzzing with activity as Canadians from across the country flock here to show their national pride.

There are various free activities taking place throughout the day on both sides of the Ottawa River including street entertainers, games, ceremonies and performances which culminate in a breathtaking fireworks display.

Don your red and white and take part in Ottawa’s Canada Day festivities as we proudly celebrate our country’s history and our Canadian heritage.  Hope to see you there!

Buying First vs. Selling First - What Makes Sense? 
There are pros and cons to both scenarios so it really depends on your situation.
 
If you’re a current homeowner who’s thinking about making a move, you’ll have to decide whether to sell your existing home first or risk carrying two homes at once.

Selling first means you’ll know exactly how much you’ll be able to put towards your next home.  It also allows you to present a much stronger offer as it won't be conditional on the sale of your current home.  Finally, selling first helps eliminate the air of desperation that both buyers and agents can sense.

Once your home sells though, the clock starts ticking.  You'll only have a limited amount of time to find the perfect place.  You don't want to overpay or settle for something less than ideal so you may have to be somewhat flexible when it comes to moving dates.

If you’re looking for a very specific home that only comes up occasionally, you may have to buy first and arrange a longer closing to allow time for your current home to sell.  To avoid carrying both homes at once, make sure it’s priced competitively from the start in order to generate maximum interest.

Local market conditions are also an important factor so determine whether it’s a buyer’s or seller’s market and if prices are rising or falling.  In a buyer’s market where there’s lots of selection, people usually prefer to sell first so they have a bit of breathing room.  In a seller’s market where good homes are hard to find and sell quickly, you may want to buy first in order to lock down your dream home.

There’s really no right answer when it comes to buying first vs. selling first as it depends on your personal circumstances and local market conditions.  Regardless of your situation though, it's important to seek professional advice from a knowledgeable, local real estate agent as market conditions can change rapidly.  Please don’t hesitate to get in touch if you ever need any advice!

Safety Tips for Firing Up the Que 
It’s that time of year when the kitchen starts to edge its way outside!

There’s nothing quite like the mouth-watering aroma of a backyard BBQ but safety is key.  Here are a few tips to keep in mind so that your food sizzles rather than your yard.

  1. Light Up - Always light a gas BBQ with the lid open.  If it doesn't ignite right away, turn the valves off and wait a few minutes before retrying.

  2. Pests' Nests - Insect nests are the number one cause of BBQ fires so make sure you regularly clean out the tubes to prevent blockages.

  3. Keep Back - Position the grill at least ten feet from the house, garage, trees or other combustible materials.  Keep kids and pets well away at all times.

  4. Roll Up Your Sleeves - Make sure apron strings, scarves and other clothes don’t dangle over the grill and always use long handled utensils to avoid burns and splatters.

  5. Turn It Off - Always remember to turn the gas off at both the grill and tank as soon as you’ve finished cooking.

Now that the safety stuff’s out the way, it’s time to think food!  After your steak dinner, why not tantalize your taste buds and delight guests by serving a mouth-watering melody of grilled fruit.  It’s a great way to bring out the fruits’ natural sweetness and the perfect finale to a summer backyard feast!

The Great, Stylish Outdoors 
The trend of extending the indoors outside is as popular as ever!

Extending your indoor space outside will add value, comfort and style to your home.  Here are a few inexpensive ways to transform your yard from dull to dazzling:

  • dress up furniture with bright outdoor pillows
  • hang outdoor solar string lights on tree branches
  • accessorize with candles, lanterns and ornaments
  • add charm with a piece of up-cycled furniture

It’s easy to add some style to your garden without spending a fortune -- just use your imagination!  Not only will you be able to enjoy the great outdoors but it'll also increase your home’s resale value when it comes time to sell.



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.