Ottawa Real Estate News from Liam Swords May 2018   

 
When you put your home on the market, it's important to take care of certain details to ensure buyers don't head out the door in disgust. This month's article offers six buyer turnoffs that you need to be aware of.

There are also some great ideas on how to save money at the pump as well as a few tips on how to seasonally transform your home with a fresh spring theme.

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!

Liam

In this issue...
Ottawa Real Estate Market Update 
Hot real estate market in an otherwise icy April.

Members of the Ottawa Real Estate Board sold 2,032 residential properties in April through the Board’s Multiple Listing Service® System, compared with 1,788 in April 2017, an increase of 13.6 per cent.

The five-year average for April sales is 1,704. April’s sales included 416 in the condominium property class and 1,616 in the residential property class.

The average sale price of a residential-class property sold in April in the Ottawa area was $455,212, an increase of 4.2 per cent over April 2017. The average sale price for a condominium-class property was $269,294, an increase of 0.3 per cent from April 2017.

“Full employment and reasonable house prices in proportion to incomes are fueling our market. Ottawa is not only a beautiful and dynamic capital but also one of the more affordable cities in Canada,” observes Ralph Shaw, Ottawa Real Estate Board President.

“While prices and conditions do vary by area, the overall residential marketplace shows solid and steady performance on investment for homeowners, and offers a variety of property class options and price points for those looking to enter the market,” he advises.

“While sales were strong this month, certain areas in Ottawa continue to experience limited supply with both condo and residential inventory down 23.7% from the same month last year. With our low inventory, potential sellers are reluctant to put their home on the market if they are uncertain of their ability to acquire another property.”

“April’s colder than usual temperatures may have been one of the reasons potential sellers delayed listing their properties. However, there are other factors at play which are contributing to the lack of supply. Of course, the new mortgage stress test is affecting some homeowners who may no longer qualify to upsize their homes,” Shaw points out.

“Further compounding the issue within Ottawa proper is a restricted supply of serviceable land, and thus fewer new build opportunities. We need both the new build and resale inventory to be robust enough to meet demand on a consistent basis,” he explains.

“Moreover,” Shaw elaborates, “life adjustment sellers such as Boomers, lack suitable purchasing options due to urban engineering. Many of them do not want to live in downtown condominiums, preferring smaller homes with an attached garage and a decent sized yard where they can still host family BBQs and entertain. Our city council would benefit from the input of Ottawa’s long-serving REALTORS® who truly understand the variety of needs of local home buyers and sellers,” Shaw concludes.

Doors Open Ottawa 
Now’s your chance to snoop around some of Ottawa’s most amazing buildings!

Celebrating its 17th anniversary, Doors Open Ottawa is the second-largest Doors Open event in North America!

Over 100 of Ottawa’s historically, culturally and architecturally significant buildings will open their doors to the public as part of Doors Open Ottawa on Saturday, June 2nd and Sunday, June 3rd from 10 a.m. to 4 p.m.

Some of the buildings you’ll be able to tour include Earnscliffe, the Royal Canadian Mint, the Bank of Canada and the Lemieux Water Purification Plant. There’s even a Doors Open Ottawa Shuttle Bus to ensure you’re able to cover as much ground as possible.

Doors Open Ottawa is the perfect way to discover how Canada’s capital has become the beautiful city it is today. Be sure to bring the whole family as there’s no charge for this event. Hope to see you there!

Beware of Buyer Turn-offs 
Address these common turn-offs so buyers don’t run for the door!

When you put your home on the market, it must appeal to a large cross-section of buyers in order to generate a frenzy of activity.

Buying a home is such an emotional decision that even a seemingly small issue can create a bad impression. Here are six of the top turn-offs you need to know:

  1. Get Out - Make yourself scarce during showings as nothing turns buyers off more than a stalking seller.

  2. Fido & Fluffy - Pets and their associated smells will put many buyers off so relocate them before showings and hide their bed, bones, toys, etc.

  3. Killer Clutter - Buyers want to imagine themselves living in your home but most can’t look past other people's clutter, even if it’s tucked away in closets and cupboards.

  4. Problems Down Below - If your basement’s unfinished, you’ll want to show that it has potential so investigate any signs of moisture and paint the floor white to make it feel more spacious.

  5. Grubby Grout - It's imperative that your entire home remains thoroughly cleaned right down to the inside of your microwave. Neglected personal spaces like bathrooms will have them running for the door!

  6. Forgo the Fish Fry - It's best not to cook fish, bacon or other strong smelling foods while your home's on the market. Always air out your home by opening the windows instead of using artificial scents as some people are allergic.

When you sell your home, your goal is to get the highest price in the shortest amount of time. Sometimes the best way to do that is by focusing on the small stuff. It's definitely worth the effort and the good news is that depersonalizing, decluttering and thoroughly cleaning your home doesn't cost a fortune.

Tips On How to Guzzle Less Gas 
Modifying your driving habits can save you loads at the pump!

Maximizing your vehicle's fuel efficiency will not only save you money but you'll also be doing your bit for the environment! Here are a few tips that'll pay off at the pump:

  1. Turn it Off - Don't idle as it unnecessarily wastes fuel.

  2. Take it In - Regular tune-ups will increase your car's efficiency.

  3. Check & Inflate - Keep your tires inflated to the proper pressure.

  4. Slow Down - Speeding increases fuel consumption by as much as 50%!

  5. Don't Brake Down - Don't constantly jam on your brakes and then rapidly accelerate.

  6. There's an App for That! - Download an app that tracks the cheapest local gas prices.

  7. Lighten Up - Remove unnecessary items from your vehicle as extra weight reduces fuel efficiency.

The best way to save on gas is to keep your car in the driveway, so next time you climb behind the wheel, ask yourself if you can walk there instead. Just a few small changes to your driving habits such as combining errands or carpooling to work will save you a small fortune over time.

Spring Your Home Decor into Action 
Transform and refresh your home now that spring is here!

Spring is a time of renewal so why not bring the season's vitality into your home by making some simple decorating changes. Here are a few ideas that'll help you create a fresh spring feel:

  • Swap out heavy curtains for blinds or sheers.

  • Bring nature inside with a few plants or some fresh cut flowers.

  • Switch your cushion covers to spring shades such as yellows and purples.

Celebrate spring's arrival by bringing a breath of fresh air into your home. Just a few simple changes and a good spring clean can reflect the season’s sunny, fresh energy!



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.