Ottawa real estate blog

Ready for some real talk about getting a mortgage this fall/winter?

As rates inch higher, more homeowners are buying down their interest rates.

Curious about what that means and if it’s right for you?

Here’s the rundown on mortgage rate buydowns:

▪️ A mortgage buydown is a way to lower your interest rate by paying discount points at closing. Discount points are a one-time, upfront fee. 

▪️ Each point costs 1 percent of the mortgage. For example, one point on a $200,000 mortgage would...

Purchasing a home is a significant financial commitment and, for most of us, the biggest of our lives. It might seem fairly overwhelming to go through all the steps necessary to find a house to call your own, from making offers and negotiating conditions to completing all the paperwork, obtaining a mortgage, and finalising the sale.

Because of this, the better off you'll be as a consumer the more informed you are. To understand the process, do extensive research. The website of the Real Estate Council...

You can immediately sell your house. It can happen the day after you close on the house and get the keys. Having said that, just because you can doesn't mean you should. 

I advise you to think about a few factors before making a choice if you are thinking about it.

Examine your current mortgage contract to see whether there are any restrictions in place. You may be required to pay a fee, known as a prepayment penalty, to end the arrangement if you sell the property soon after buying...

What are the effects of a slowing real estate market on buyers and sellers?

A large portion of Ontario's residential real estate market has been cooled by a number of reasons, including higher interest rates, increasing inflation, and rising cost of living.

Recent reports from financial institutions indicate that rising interest rates are increasing the stress test mortgage qualification rate. The stress test, a computation used by lenders to determine whether a buyer can qualify for a specific mortgage,...

It might be difficult to decide whether to buy a home or rent one. To make a wise choice that fits with your financial situation, way of life, and aspirations, there are several factors to take into account. The following are some items I want you to consider.

Analyze the market. According to media reports, Ontario's residential real estate market is no longer as hot as it was during the pandemic's peak. There are many causes for this, but a few stand out: growing living expenses, higher inflation,...

Ottawa is a great place for real estate investors. You can find top-quality investment properties at great prices, and the market has been improving steadily for years. The Ottawa real estate market is also one of the most diverse in the country, with properties ranging from large apartment buildings to single-family homes, from older buildings to new construction. Ottawa has seen an influx of foreign investment in residential real estate, with many developers and investors targeting the capital as...

Need to sell your house fast? Not a problem, I've helped many clients sell their home quickly (and for top dollar, of course!)⁣
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Here are some tips I give my clients to speed up the selling process: ⁣
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-Major repairs are out but do what you can. Clean, declutter, and focus on curb appeal.⁣

-Price your home just below market value to stir up buyer buzz.⁣
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-Choose the all-cash offer to ensure a quick and easy closing.⁣
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-Be flexible on terms and price. Hold firm to your request for a quick closing.⁣
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-Hire...

The appraisal came in low. Now what? ⁣
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First, don’t stress. There are lots of things you can control in the buying process, but one you can’t? Where that appraisal comes in. Take a deep breath and remember, an appraisal is good — it’s there to keep you from overpaying on a home.⁣
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So what to do when the number is punier than your purchase price? Here are your options:⁣
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- Appeal it.⁣
- Ask for a second appraisal.⁣
- Negotiate the purchase price with the seller.⁣
- Find more cash...

Fixer-uppers are NOT for the faint of heart!

Before pouring your hard-earned cash into a fixer-upper, ask yourself:  

- Do you have the patience of a saint? Labor shortages and supply chain issues are causing even minor home repairs to drag on and on. Patience, flexibility, and time to wait best be your best friends. 

- Do you have the time and capacity? Taking on a fixer-upper is incredibly exciting, but it can also be all-consuming. Ask those who know you best their thoughts about your...

Bring it in, buyers and sellers. I know you’re probably feeling a little anxious, scattered, and unsettled about what’s ahead. ⁣
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That’s why I want you to stop, clear your mind, and take in a few affirmations that will be here for you to revisit anytime negativity makes an unwelcome appearance in your head or heart. Sound good? First, take a deep breath in and a deep breath out.⁣
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 Sellers, say to yourself:⁣
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• I cannot control the outcome of this real estate journey. I can only...