Connect with us

Real Estate

Easy to Buy, Easy to Sell – Martin Elder Home Sales

Editor

Published

on

[ad_1]

In early June, the Ottawa Real Estate Board announced that May’s sales in Ottawa included 444 in the condominium property class, and 1,856 in the residential property class. They further noted that:

Not only was May 2017 the best May on record for unit sales, it also surpassed the record for highest unit sales in a single month ever; blowing the previous record out of the water by 315 units,” says Rick Eisert, President of the Ottawa Real Estate Board. “One of the reasons for these stellar numbers can be attributed to the condo market, which has really helped strengthen the whole market over the past several months. This is quite evident in May, where units sold increased by 44.6 per cent over May 2016.

Martin Elder Real Estate Group FREE Home EvaluationSo, what does this mean for those looking to buy and sell a home? While sales activity across Ottawa is showing a trend towards a seller’s market, we have not reached that point. Instead, we are seeing a balanced market; whereby both those buying and selling have an opportunity to seek out the perfect home. Keeping in mind, however, that prices and demand will vary from neighbourhood to neighbourhood – with property and home types coming into play.

In fact, there are still neighbourhoods (like Westboro, Wellington West, etc) where homes are in greater demand and may cause bidding wars. For this reason, it is best to work with a knowledgable and trustworthy relator who understands what your home is worth. For a FREE home evaluation, connect with the Martin Elder Real Estate Group.

Martin Elder is committed to the delivery of an Exceptional Real Estate service. Martin promotes and supports the advantages of community. Let Martin help you Sell Your Home for Top Dollar or find your Perfect Dream Home. For free information, assessments and advice, contact us today »

[ad_2]

Source link

قالب وردپرس

Real Estate

Not even real estate is immune from the impact of the coronavirus

Editor

Published

on

By

The novel coronavirus may have started as a health scare in China, but now that it has spread to more than 100 countries, its economic impact is becoming increasingly difficult to ignore.

The contagion has sent global stock markets into panic mode, with a record plunge on Monday and soaring volatility ever since.

Housing markets in Canada and Australia, however, appear undeterred by the jitters. In fact, they have even taking encouragement from recent rate cuts implemented to combat the crisis.

At the same time, home-refinance applications in the U.S. have surged by 79 per cent, as per the U.S. Mortgage Bankers Association’s refinance index.

But is real estate really immune from the impact of the coronavirus, which was officially deemed a pandemic by the World Health Organization on Wednesday?

Some real estate sectors are clearly more vulnerable than others. The surge in cancellations for tourist travel is not only affecting airlines but also hotels and others in the lodging industry.

The next week is usually one of the busiest travel seasons of the year as families travel during the March break. Already, cancellations are at an all-time high, something that is putting stress on the hotel industry, and one could see that part of the market come under pressure if conditions pressure.

Some investors, meanwhile, expect REITs to do well in times of uncertainty because, with long-term leases, landlords are likely to enjoy more stable cash flows than manufacturers and others who are more sensitive to short-term declines in the demand.

In addition to office and large retail real estate, where tenants usually have longer leases, investors are reportedly favouring purpose-built rental housing and self-storage real estate.

Continue Reading

Real Estate

Coronavirus is already taking its toll on Canada’s real estate market

Editor

Published

on

By

The real estate frenzy in Canada’s biggest markets is headed for a chill as anxiety rises over the economic fallout of the coronavirus.

A call for social distancing means far fewer people will be opening up their homes to potential buyers. 

RE/MAX wants its realtors in Ontario, the Atlantic provinces and Western Canada to cancel open houses until COVID-19 is under control.

“While almost all real estate brokerage firms have embraced digital tech and realtors are able to utilize signature platforms and other tools to conduct business, once showings, open houses and other in-person business is restricted, there will definitely be a drop off in transactions,” John Lusink, president and broker of record at Right at Home Realty, told Yahoo Finance Canada.

“We expect to see a drop in sales but this will take a month or two to filter through into the actual results.”

Buyers will also likely put their plans on hold.

“Obviously there has been an immediate pause in market activity as everyone tries to figure out what happens next,” Steve Saretsky, realtor and author of real estate blog Vancity Condo, told Yahoo Finance Canada.

“We are seeing buyers move to the sidelines and sellers put some of their listing plans on hold.” 

But that doesn’t mean the end result will be more affordable homes.

“The way I see it the housing market is basically frozen… no buyers and no sellers,” Benjamin Tal, deputy chief economist at CIBC Capital Markets, told Yahoo Finance Canada.

“That in a way will limit or even eliminate any notable downward risk to prices. Simply the  number of sales will go down dramatically.”

Continue Reading

Real Estate

6 Ottawa Homes For Sale Along OC Transpo That Are Still Kinda Affordable

Editor

Published

on

By

Like many big cities, finding an affordable place to live in Ottawa can be challenging, especially for new home buyers. Though one benefit of living in the capital is having access to public transportation within minutes, which in the long run, might help offset any moving expenses. So if you’re a new buyer or just looking to relocate, cheap homes for sale near transit in Ottawa are perfect for those who are always on the go.

The Ottawa Real Estate Board reported back in February that the average cost to buy a home was 21% higher than the previous year. 

Despite these growing prices, it seems that Millenials are still flocking to the area to enjoy Ottawa’s culture.

There are so many beautiful places to explore and fun things to do that it’s not hard to love where you live no matter your budget. Being close to public transit is always a plus, especially if you don’t own a car but still want to enjoy the perks of the city. 

These spots are both affordable and travel-friendly, so you can save money and still explore the area without breaking the bank.

They are also OC Transpo accessible.

From charming bungalows to three-story units, there’s a place for everyone to call home.

If you want to feel more like a royal for the day, you can check out these luxurious Ottawa homes that are basically giant spa getaways.

Pull out your Presto Card and get ready to explore the city as soon as you step out the door!

According to the Ontario Real Estate Association, the Ontario government has currently prohibited open houses during the current state of emergency. 

The Real Estate Council of Ontario states homebuyers are still able to view listings online through virtual tours and 360 walk-throughs. 

Continue Reading

Chat

Trending