Ottawa Real Estate Blog

501 Strasbourg Street, Avalon/Chaperal, Orleans, Priced at $389,900 (MLS #1066116)

This 3 bedroom and 3 bathroom immaculate end-unit townhome has been cancelled for now, we will keep you updated.

You will love the quality and superb condition of this Tamarack Jamison model which is 1,874 sq. ft above ground + 415 sq. ft. of finished lower level for 2,289' of living space.

View from Strasbourg side

501 Strasbourg Street front view

As it is an end unit corner lot it is flooded with natural light. Unique main floor study perfect for home office. "Gingerbread" coloured hardwood through main floor.

It is spacious & open concept. Note the silhouette blinds in living room. Gas fireplace & island breakfast bar. Upstairs with wall to wall carpet features 3 spacious

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515 St. Laurent Blvd. Unit #2212, Viscount Alexander, Ottawa, Priced at $150,000 (MLS #1065947)

This very affordable condo will be listed live on the MLS on Wednesday 28th June 2017, contact us if you want a quick showing of this Condo Apartment in the East End of Ottawa.

This spacious model faces south, but also has views west & east. From the 22nd floor you have an amazing vista. You can see the Parliament Buildings downtown as well as the Suburb of Orleans to the East.

515 St. Laurent unit 2212

Move-in ready and priced to sell, 2 bedroom and 1 bathroom Condominium in the East End of Ottawa.

  • Hardwood in living/dining rooms and bedrooms.
  • Storage area is in the apartment.
  • Parking is a convenient half level down from 2nd floor access.
  • The
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82 Starwood Road, St. Claire Gardens, Ottawa, Priced at $449,900. (MLS #1064449) is SOLD

This listing went live on MLS on Friday, 16th June 2017 at 9am and we had 6 offers and sold for over asking price, with no conditions same day! We need more listings in this area, do you want to sell your home, let us give you an Online Evaluation for your home.

Watch the Video for a Tour of the house

This new listing is located in the St. Claire Gardens Neighbourhood in the West End of Ottawa, just South from Baseline Road, North from Meadowlands Drive, East of Woodroffe Avenue and West from Merivale Road. Close to shopping and Algonquin College with easy access to the Queensway.

This is a 3 bedroom brick bungalow with a detached garage, sitting

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Do you even know what an escalation clause is, and its' Implications for the buyer or seller?

escalation clauses in a sellers market

There is a clause that can be used if your Buyer wants to really really make sure that they get their offer accepted on that hot new listing, or a listing that you know has multiple offers on it. (usually this would be a sellers' market).

OREA has recently written a letter to RECO to look into this escalation clause as it's so controvercial !

The escalation clause automatically adjusts your buyers' offer till it goes above the best offer, up to your clients Cap, or Maximum Bid !

In an ordinary situation this clause could secure the house for your client, but it could also get crazy if there is even One other buyer who also included an escalation

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Financials on a 6 Unit Multi-Family Building in The Glebe Neighbourhood, Ottawa

Here are all the financials as well as the return-on-investment on a recent sale of an Income Property that had 6 apartments in it, which was located in The Glebe, in the Central Area of Ottawa.

Glebe 8 Unit Building, Sold May 2017 

Selling Price $2,150,000
Scheduled Rental Income (SRI) $120,768
Effective Rental Income (ERI) $115,937
Total Operating Expenses (TOE) $40,657
Net Operating Income (NOI) $75,280
Capitalization Rate (CAP) 3.6%
Operating Expense Ratio (OER) 35%
Sales Price X Gross Income (ERI) 18
Sales Price X Net Income 28
35% Downpayment
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How much Principal are you really paying towards your mortgage versus Interest?

This is a real-life scenario, using the actual Average Price for a home as of May 2017. We are using a 25 year Amortization for a Mortgage with an Interest Rate of 2.8% & a 5 Year Term.

Mortgage Payment Information

  • Purchase Price $420,207
  • Down Payment $84,041.40 (20%)
  • Amount Financed $336,165.60
  • Monthly Payment $1,556.59 (Principal & Interest ONLY)

Residential (or Property) Taxes are a little harder to figure out... the average residential tax rate seems to be around $14 per year for every $1,000 of your property's assessed value.

Let's say that your property's assessed value is 85% of what you actually paid for it - $357,175.95. This would mean

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Financials on an 8 Unit Multi-Family Building in the Carlington Neighbourhood, Ottawa

Here are the full financials on a recent sale of an Income Property that had 8 apartments in it, which was located in Carlington, in Ottawas' West End.

Carlington 8 Unit Building, Sold April 2017 

Selling Price $1,240,000
Scheduled Rental Income (SRI) $98,556
Effective Rental Income (ERI) $94,614
Total Operating Expenses (TOE) $31,106
Net Operating Income (NOI) $63,508
Capitalization Rate (CAP) 5%
Operating Expense Ratio (OER) 33%
Sales Price X Gross Income (ERI) 13
Sales Price X Net Income 20
35% Downpayment $434,000
Mortgage (@ 3.3%)
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2475 Clover Street is For Sale, in Heron Park, Priced at $324,900, MLS # 1055533

Go to the Listing for 2475 Clover Street

This brand new listing will be on the site shortly, it was loaded to the MLS this morning. NOW LIVE and ACTIVE.

Some features of this house:

  • Attached garage with inside access to the house
  • Hardwood floors in all principal rooms
  • Updated Back Deck and Stairs
  • Fully Fenced Back Yard
  • Easy access to the O-Train and OC bus service
  • Large 20 foot Master Bedroom
  • Dryer, Refrigerator, Stove, Washer included

Convert this house into a 4 Bedroom

If the Master Bedroom was converted into 2 bedrooms, the bedroom measurements would be 11'3" x 9'11" and 9'11" x 8'2" resulting in a 4 bedroom home. Each

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Housing Affordability as well as the Future of Condos

cmhs ottawa residential market predictions

We just received this document from CMHC which is a very detailed 37 page report covering a whole bunch of topics, including:

  • Expectations for the housing market through till 2018
  • Population Growth for same period
  • Job Creation for the Ottawa area through 2018
  • Growth in employment by sector, service sector saw most growth
  • Highest Earnings by sector and age group
  • Highest number of sales by location
  • Highest average price increases by location
  • What Age Group earns the highest income
  • What age group forms the highest group for renting

As a sneak peek, I can tell you that the areas that saw the most sales in the Greater Ottawa area were: Downtown Ottawa, followed by

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Residential homes in Barrhaven on the up, condos on the down-slope.

This will likely be our last real estate market update for 2016 covering all of the Barrhaven area. In 2017 we plan to keep you even more informed by making a new video update every month.

  • The current average price for a Townhouse or Semi in Barrhaven is now $311,000
  • The average price for a Detached House in Barrhaven is now $465,000
  • Average for a Townhome or Semi Style condo is $207,000
  • Apartment & Stacked Condo, average price now $219,000

Residential homes have seen an increase in their price of 2.6% for 2016 over 2015 and condos have actually seen a decline of 2% in their average prices.

 Here are all of the Residential Stats on this chart

Barrhaven Residential Stats Dec 2016

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