Ottawa Real Estate News from Ian Campbell June 2018   

 
Preparing your home for showings can be a lot of work, especially if you have kids running around.  This month's article discusses some strategies on how to prepare your home to show with kids in tow.

There are also some valuable debt management strategies to help keep you and your loved ones profitable as well as a few tips on how to de-stress your home.

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!

Regards
Ian Campbell

In this issue...
Ottawa Real Estate Market Update 
Ottawa’s spring market is churning along.

Members of the Ottawa Real Estate Board sold 2,279 residential properties in May through the Board’s Multiple Listing Service® System, compared with 2,294 in May 2017, a decrease of 0.7 per cent.

The five-year average for May sales is 2,041. May’s sales included 485 in the condominium property class and 1,794 in the residential property class.

“Although our overall inventory stock is down in both the residential and condo market, the number of listings coming onto the market this month is typical spring activity,” states Ralph Shaw, President of the Ottawa Real Estate Board. “The sheer number of home sales that took place in May indicates that inventory is turning over quickly– certainly a sign that Ottawa is a healthy real estate market.”

The average sale price of a residential-class property sold in May in the Ottawa area was $464,401, an increase of 6.3 per cent over May 2017. The average sale price for a condominium-class property was $281,247, an increase of 3.4 per cent from May 2017.

“In the first five months of 2018, the value of a single-family home has increased about 8% and approximately 6.5% for condominiums,” Shaw notes. “This price acceleration is encouraging news for homeowners who have now seen an average of 3% price growth per year for the last five years.”

“Much of the total increase in property values have been experienced since the beginning of this year. Not only will this help new homebuilders validate their pricing since construction costs and development fees are so high, but it also will give baby boomers incentive to sell their homes which will help put inventory back onto the market,” he explains.

“While our inventory stays at historically low levels, especially in some neighbourhoods, there will continue to be upward pressure on home prices. We definitely have the demand for housing in this city not only because it is still very affordable but because all the fundamentals are solid here.  However, our city does need to have a longer-term housing supply strategy so that we aren’t confronted with future affordability challenges,” Shaw advises.

The $300,000 to $449,999 range remains the most active price point in the residential market, accounting for 45 per cent of home sales, while the $500,000 to $750,000 range continues to gain momentum, now representing almost one-quarter of residential home sales.

“Between $150,000 and $249,999 was May’s most active price point in the condominium market, accounting for 49 per cent of the units sold,” Shaw reports. “Moreover, apartment condos represent 52 per cent of the sales. This is likely a reflection of the low vacancy rate in the rental market. If you can scrape together a down payment, the carrying costs of one of these condos should be less than renting,” he suggests.

Canada Day Celebrations 
Come out and take part in Canada’s biggest birthday bash!

Ottawa will be buzzing with activity as Canadians from across the country flock here to show their national pride for Canada’s 151st birthday!

There will be a weekend full of festivities starting on Saturday, June 30th which will take place at Parliament Hill, the Canadian Museum of History and Mayor’s Hill Park.

The entertainment will include a variety of street entertainers, family-friendly games, an amazing lineup of live music which will culminate in a breathtaking fireworks display on July 1st.

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 out and about!

Preparing a Home for Show with Kids in Tow 
Have your home “show ready” at a moment’s notice!

When your home’s on the market, getting ready for showings can be a real challenge but it's even harder when you share your home with little ones!

The trick to selling a house with kids is to try and make it appeal to buyers who have children as well as those who don’t. Here are a few tips to help you prepare your home for show with kids in tow:

  1. Depersonalize - It's important that buyers are able to imagine themselves living in your home so clear the kids’ artwork off the fridge and take down photos, awards and mementos.


  2. Play Time's Over - Keep just one box of toys on hand and pack up the rest as too many toys look messy and make rooms appear smaller.


  3. Clean Your Room! - Pack up stuffed animals, books and trophies in the kids’ rooms. Any remaining items should be placed on shelves instead of the floor.


  4. Behind Closed Doors - Buyers can never get enough closet space so get rid of any clothes and shoes that are out-of-season or that your kids have outgrown.


  5. Time to Grow Up - Buyers should be able to visualize your playroom as their rec room so get rid of kid clutter like arts and crafts so it’ll appear large enough for their pool table.


  6. Curb Appeal - Don't leave toys, sidewalk chalk or bikes strewn outside your home as drive-by viewings can occur at any time.

  7. Ready to Go - Have a diaper bag that’s ready with everything you need in case you have to make a quick getaway for a last minute showing.


Selling your home is a great opportunity to declutter and by doing it now, you’ll have less to pack when it comes time to move. Showings can happen in an instant so make sure you have a system in place that enables you to vacate in a matter of minutes. Although keeping everything perfectly staged with kids can be a challenge, it'll be well worth the effort!

It Pays to Pay Off Debt 
Getting out of debt can be tough, unless you have a plan.

Debt management isn't a popular family topic but talking about it with your kids and loved ones can help them avoid a lifetime of financial woes. Here are a few of the basics:

  1. First Things First - Focus on paying off high interest, non-deductible debt first.


  2. Budget Crunch - List all income and fixed expenses such as house and car payments. Next, list variable expenses to see what can be reduced or eliminated.


  3. Consolidate - Monthly payments can likely be lowered by consolidating debt through a home equity loan as the interest rate will be much lower.


  4. Reach Out - Creditors will often reduce monthly payments if a debt repayment plan is arranged through a reputable credit counseling service.


Managing debt may seem like a daunting task but it can help avoid a financial crisis that could devastate a person's credit rating and their ability to borrow money at attractive rates. Almost everyone feels the credit crunch at some point in their life but with a little planning, it can almost always be overcome.

De-Stress Your Home 
Your home should be a refuge from all the stressors in your life!

Life can sometimes be stressful so ideally, your home should feel like a sanctuary for you to relax in. Here are three easy ways to de-stress your home:

  1. Meaningful Memories - Hang photos and artwork that remind you of happy times in your life.


  2. Mess Causes Stress - Studies show that clutter overloads our senses so take a few minutes each day to clean up.


  3. Natural Cure - Bring nature into your home with some fresh flowers or a few potted plants to help restore a sense of balance.


Life can sometimes be overwhelming but an organized and tidy home means you’ll have a relaxing space to unwind in at the end of a long day. Just a few little tweaks can make a huge difference!



PS As a thank you for referring me to a friend or family memeber that either Buys or Sells through me you will receive $ 500.00 cash.

 
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.