Ottawa Real Estate Market

What's happening in the Ottawa Real Estate Market

Mortgage Insurance Simplified

Do your eyes glaze over when you are faced with pages of information, charts and graphs? I have simplified the comparison between mortgage-lender insurance and personally-owned mortgage insurance.

 

Mortgage insurance purchased from
a mortgage lender

 

Lansdowne Park - City Releases 5 bold new designs Lansdowne - View the proposals resulting from the design competition

Ottawa's Lansdowne Park re-design plans are now availableThe 5 top design plans for Lansdowne Park have just been released from the city. Five bold plans all have a focus on the Aberdeen Pavilion ( Cattle Castle ) from green houses inside of it and housing the Ottawa Farmer's Market to bringing the waters of the canal right to it's door.

Hottest April on record for resale housing market in Ottawa - April 2010

Members of the Ottawa Real Estate Board sold 1841 residential properties in April through the board's Multiple Listing ServiceR system compared with 1591 in April 2009.  That represents and increase of 15.7 percent.  Those numbers blew away the record for April which is always one of the busiest months of the year.
Four hundred and twenty-five of those sales were in the condominium property class while the rest were in the residential property class.
The average sale price of condominiums was $254,220 an increase of 17.4 percet over April 2009.  The average sale price of residential properties was $356,617 and increase of 11.7 percent over April 2009.

***IMPORTANT UPDATE*** CMHC Softens Approach to 5 Year Fixed Qualification Rate

Info received from Mike Hatch of Ottawa's Home team at www.ottawashometeam.com

Good news!

Brisk February Sales keep Ottawa in seller's market - Ottawa Real Estate Board Sales for February 2010

March 5, 2010 : A Great Start to 2010 for Ottawa’s Housing Market

Members of the Ottawa Real Estate Board sold 1,118 residential properties in February through the Board’s Multiple Listing Service® system compared with 787 in February 2009, an increase of 42.1 per cent.

Of those sales, 323 were in the condominium property class, while 795 were 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.

Ottawa properties are about to cost more - Stop the HST – Cost of buying, owning and selling a home to go up by 8%

Subject: Stop the HST – Cost of buying, owning and selling a home to go up by 8%

Resale home sales still riding high in Ottawa Real Estate Market

November 4, 2009 : Resale home sales still riding high in Ottawa

Members of the Ottawa Real Estate Board sold 1,202 residential properties in October through the Board’s Multiple Listing Service® system compared with 964 in October 2008, an increase of 24.7 per cent.

Recommended Ottawa Mortgage Professionals that Provide Great Rates and Superb Service

There are many many places to get your mortgage but if you're looking for someone who will not only give you the best rates but will also give you superb service - then we highly recommend you call any of the people we list below.  Most of them will actually come to you - so no need to travel to a bank and look for parking etc.
Give any or all of them a call or email and tell them Eric and Steve sent you!.
 
Mike Hatch and Donna White from Dominion Lending Centres
Mike Hatch  -  (613) 203-2030
Donna White  - (613) 612-2111
info@ottawashometeam.com
www.ottawashometeam.com

 

Record-Breaking Number of Resale Homes Sold In May

Ottawa, June 3, 2009

Members of the Ottawa Real Estate Board sold 1,969 residential properties in May through the Board's Multiple Listing Service® system compared with 1,896 in May 2008, an increase of 3.9 per cent. That number also represents a 19 per cent increase over the 1,594 sales recorded in April 2009. Of those sales, 348 were in the condominium property class, while 1,621 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, 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.

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