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December 2018
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Happy December All!

Well this year has been one of our busiest years yet.  Despite the mortgage changes, the shortage of listings has made the year great for sellers and sometimes frustrating for buyers as they are almost always competing against others for the few properties that come up. Mortgage rates have come up a bit and were predicted to move higher a few more times but that appears to be on hold for now so you may have a longer time to buy in at the current rates.  If you have a mortgage coming up for renewal within the year be sure to talk to your bank or broker now to lock in a rate before they rise again. (Of course the banks would rather you wait for an increase in rates so you won't hear from them too early.)

So far it looks like next year is going to be similar to this one in Ottawa.

Wishing you all a Merry Christmas and Happy New Year and may you enjoy immensely whatever Holiday you celebrate.  If you have travel planned enjoy and perhaps we'll catch some of you down somewhere warm in January

As usual thanks for all your referrals - we are always honoured to work with you and yours!
  
Cheers,
     Eric



 

November 2018 Ottawa Market Report

Up, up, up.  The market for resales properties in Ottawa has been busy this year.

Condos have fared particularly well.  Freehold have had good price increases, but that is partially driven by insufficient properties available for the number of buyers.  That has led to most homes receiving multiple offers.  Good if you're the seller, but frustrating and difficult for buyers.  ...read more...


 

Who Gets The Better Mortgage Rate?

Ted Rechtshaffen / Financial Post
I used to think paying down debt and having a good credit rating would reward me.

Then I went to renegotiate my mortgage and was told that my five-year fixed mortgage rate would be 3.84 per cent. I thought that was pretty good until the neighbour’s 27-year-old kid told me the rate on his mortgage was 3.39 per cent for the same term.  What??

The answer is that in 2018, he is a much better credit risk for the bank. This may not make sense on the surface, but let me explain how crazy our mortgage system has become.  ...read more...


 

Decorate By Your Zodiac Sign?

Stefani Forster / Realtor.ca
Astrology can offer cosmic insight into our careers, finances and personal relationships – but what about our homes?

Designing a space with your zodiac sign in mind can help align your décor choices with your personality. But since each sign represents virtually millions of people of different backgrounds and cultures, preferences within the sun signs vary.

In other words, to infer all Cancers love lace or every Leo goes wild for animal prints is to miss the mark. Instead, we'll explore the general design approach of each sign, so you can decide how to best let your individuality shine in your home.  ...read more...


 

Townhomes May Be A Great Deal Now

Sarah Niedoba / livabl.com
Faced with higher interest rates and tougher mortgage qualification rules, many Canadians have turned to the new condo market as a more affordable shot at homeownership. One property type that hasn’t been as attractive? Townhouses.

According to a new report from real estate company Altus Group, new townhouse sales fell in both Toronto and Vancouver in the first half of 2018.

Altus cites deteriorating housing affordability, including higher interest and mortgage rates, as a reason for the drop in sales. But the report is also optimistic that demand for the property type will begin to turn around in the coming year.  ...read more...


 


In the heart of Centretown.  Beautiful condo apartment on a lower floor includes in-suite laundry, high ceilings, huge windows, gleaming hardwood, freshly painted and extra large balcony with gas BBQ hookup. Walk to everything - just move in and enjoy life in the city.
364 Cooper St, Suite 306  $412,000   CONDITIONALLY SOLD

Opportunity to create your dream property on 1.63 Quiet Country Acres. A large circular drive brings you into this expansive very private - but not isolated - property. There are several structures, but all need work.
1599 Lavigne, Hammond  $150,000

In the Golden Triangle. In the centre of everything. Walk to shopping, dining, entertainment, work & university. Across the Somerset footbridge to Light Rail. Very large & bright corner unit condo with 2 balconies, 2 bedrooms, and 2 full baths. Underground parking & in-suite laundry.
20 The Driveway #1101  $670,000   CONDITIONALLY SOLD

Enjoy this bright, sunny & affordable corner apartment in a building with many amenities. Indoor & outdoor pools; hottub and sauna; exercise, pool & games rooms; workshop; even a squash court! Library, seniors centre and sports facilities nearby.
704-960 Teron, Kanata  $227,000   SOLD
Copyright © 2018 Eric Manherz, All rights reserved.


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