Archives for buyers in Ottawa

CMHC wants to make it easier for self-employed Canadians to get a mortgage

  Are you self-employed and looking to buy a home? The CMHC is giving lenders more guidance and flexibility on determining whether a self-employed person qualifies for a mortgage.They are implementing changes in order to make it easier for self-employed individuals to obtain a mortgage, as these Canadians tend to have a more difficult time qualifying. This is due to incomes varying and being less predictable than those with salaries/are employed by a business. Click here for the full story.  
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Skipping Home Inspections a Major Red Flag for New Buyers

When you are planning on purchasing a home, one of the most important things to have done is a home inspection. Many buyers don’t think it’s necessary, or is too expensive. But, having a thorough walk-through of the property will help pin point problems early on and save you money down the road. A home inspection will look beyond the cosmetics of the home and take a serious look at the home’s systems (HVAC, wiring, plumbing) and structural aspects, like the roof. Click here for more information on why you need a Home Inspection.  
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Ottawa Home Prices See Healthy Growth in the First Quarter of 2018

Continued demand and shortage of listings intensifies pressure on Ottawa home prices. The aggregate price of a home in Ottawa saw a healthy increase in the first quarter of 2018, rising 4.7 per cent year-over-year to $437,243, according to the Royal LePage House Price Survey released April 13th. Click here for more information on the Ottawa Real Estate Market.  
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Ottawa home sales jump 12% in March

Ottawa Business Journal Online, April 5th 2018 Ottawa’s residential real estate roared back to life in March with a double-digit increase in sales and an eight-per-cent increase in average house prices, according to the Ottawa Real Estate Board. “Properties that are priced well are selling quickly,” said OREB president Ralph Shaw in a statement, adding that homes are spending an average of 43 days on the market, down from 54 days in March 2017. Ottawa realtors sold 1,660 residential properties last month, up 12.3 per cent from the 1,478 sold during the same period a year earlier, according to OREB
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Looking to Buy? Spring into the Spring with a New home + Neighbourhood.

The promise of warmer weather is upon us, and it’s the perfect time to be looking for a new home. The best way to decide if an area is right for you is to explore it! Whether you’re looking for an area with the best schools, emergency services, within walking distance to museums, or has plenty of parks – Ottawa In My Neighbourhood is a great place to narrow down your search. Click here to explore your next neighbourhood.  
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22 Ways to Subtly Spice Up Your New Space

Just purchased a home or are in the process? Sometimes it can be a challenge to figure out how to make your new home reflect your taste and personality. If you’re looking to make your house showcase you and your lifestyle, try incorporating intriguing, bolder design choices. Click here to see the 22 daring designs you should try in 2018.  
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This Important Element Often gets Overlooked when Buying a Home

Ottawa Citizen, Stephen Moranis, Postmedia News 08.15.2016 It’s the most common hazard that home buyers overlook: disagreements between homeowners that can turn entire neighbourhoods into war zones. These can happen anywhere, of course; but they’re especially common in tonier, wealthier communities, where people are more inclined to lawyer up, and where small contrarian disputes can escalate quickly.   These conflicts end up becoming embarrassing, upsetting and expensive, occasionally leading some residents to consider selling and moving on. So much for that friendly block party.   It’s a shame. The neighbourhood you once thought was charming and peaceful becomes the one
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OSFI sets new mortgage rules, including stress test for uninsured borrowers, find out more about how this will affect you

By Pete Evans, CBC News Posted: Oct 17, 2017 9:29 AM ET Last Updated: Oct 17, 2017 3:02 PM ET   Canada’s top banking regulator has published the final version of its new mortgage rules, which include a requirement to “stress test” borrowers with uninsured loans to ensure they could withstand higher interest rates.   The Office of the Superintendent of Financial Institutions (OSFI) released new guidelines for the mortgage industry on Tuesday. The regulator floated a similar version of these rules earlier this summer in draft form, but Tuesday’s release makes them official as of Jan. 1.   Click here to read the article
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