Archives for buyers in Ottawa

Condo sales drive the Ottawa resale market in July

Members of the Ottawa Real Estate Board sold 1,530 residential properties in July through the Board’s Multiple Listing Service® System, compared with 1,490 in July 2016, an increase of 2.7 per cent. The five-year average for July sales is 1,446. “The Ottawa resale market continued its steady pace into mid-summer, with condo sales really bolstering the market this past month,” says Rick Eisert, President of the Ottawa Real Estate Board. “We’ve actually been seeing this positive trend since February. The condo market had been in a slump for the past few years because it was overbuilt. Some owners who had
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How does the increase in the Bank of Canada Rate affect your loans?

By Solomon Israel, CBC News Posted: Jul 12, 2017 5:00 AM ET Last Updated: Jul 12, 2017 4:29 PM ET   After seven years of leaving its key interest steady or cutting it to near-historic lows, the Bank of Canada has finally increased its overnight rate by 0.25 percentage points to 0.75 per cent. The overnight rate determines the rate at which banks lend money to each other on a regular basis. In practice, changes in the overnight rate get passed on to consumers through corresponding changes in interest rates on different financial products. Here’s how the increase in interest rates could filter down through the kinds of loans
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Ottawa ranked #1 as Canada’s Best Places to Live 2017!

MoneySense by Mark Brown July 4th, 2017 Online only   Where is the best place to live? Many Canadians are convinced they already know the answer: Wherever they are now. But as proud as we are of our hometowns, there are some cities that simply have it all. And for the second consecutive year that place is Ottawa.   Year after year, our nation’s capital excels on our list but we know there are naysayers out there. On the off-chance readers get the idea we have a soft spot in our hearts for the nation’s capital and played favourites, we shuffled the data a bit
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Ottawa real estate market heats up as Toronto cools down

  CBC News Posted: Jul 06, 2017 4:09 PM ET Last Updated: Jul 07, 2017 11:13 AM ET   While sales plummeted last month in Toronto, Ottawa’s homes sales — and prices — jumped in June, according to figures released Thursday by the Ottawa Real Estate Board.   The number of homes resold increased by 10 per cent, to 2,162  in June 2017 compared to 1,985 properties for the same month the previous year.   “Since the announcement in April by the Ontario Liberal government of cooling measures in Toronto, it’s no surprise that the Ottawa market has been thriving,” said Ralph Shaw, president-elect
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House prices climb 7.4 per cent in May as Ottawa market strengthens

JAMES BAGNALL, OTTAWA CITIZEN Published on: June 2, 2017 | Last Updated: June 2, 2017 7:26 PM EDT   Real estate agents are finally getting a taste of spring — at least in some parts of the city. The average price for residential properties in Ottawa sold in May jumped 7.4 year over year to $436,600, the Ottawa Real Estate Board reported Friday. It’s the second month in a row that has seen prices increase in excess of seven per cent, suggesting Ottawa’s real estate market is strengthening in favour of sellers. Certainly agents are seeing multiple offers for new
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