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May 2019
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Happy May Everyone!

As you'll see from the Market Stats for April - the market in Ottawa is still very heated.  We are seeing larger price increases than Ottawa has experienced in recent years and Multiple offers are almost the norm.

If you're wondering what you home might be worth in this market, you can get a rough estimate instantly. Check out the new Royal LePage Estimated Market Value  for fun.  Send us an email or give a call if you need a closer evaluation - this type of automated calculator can be interesting, but aren't able to go into the depth with comparables that we can.

Enjoy the month everyone and if you have any questions contact Steve or I anytime.
  
Cheers,
     Eric


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Market Report for April 2019

Like the Energizer Bunny, it just keeps on going.  April-over-April and year-over-year, average prices are strongly up for both freehold and condo properties.  

Number of condo resales has also increased significantly on both timescales, which is great for those owners who watched their resale options tumble after various mortgage regulation changes.

Buyers for freehold homes are being particularly hit by our low inventory in the Ottawa market - multiple offers, sales over asking prices, and in record short times.  This is also happening to many of the condos being offered for sale, both apartments and townhomes.   ...read more...


 

Property Value Estimator

Royal LePage has created an interesting tool that anyone can use:  The Property Value Estimator.

Simply enter the information about your home including the year and month you bought it, and it will provide you with an estimate of what it's worth.   ...read more...


 

The Lowdown On Down Payments
(Sandra Tisiot, Smart Debt Mortgages)

How much do you need?  (The minimum can vary, so you want to know how it's calculated.)

Must you buy mortgage default insurance?  Yes, unless your down payment is 20% or more.  But your mortgage company (especially banks) might charge you a higher interest rate if your down payment is 20% or more so that they can buy the mortgage insurance themselves.

Buying a rental or recreational property?  There are different minimum down payment percentages and mortgage insurance requirements.

Coming up with the down payment...   ...read more...


 

5 Home Staging Details
(Zana Dodig, REMonline)

"Home staging is all about depersonalizing and adding some new things to make a better impression on potential buyers. But most sellers either don’t put in enough effort or simply overspend on the wrong things. So, we’re here today to help you keep balance with these five home staging details that will totally charm potential buyers."  ...read more...


 

10 Must-See Tiny Homes To Buy
(Jenny Xle, Curbed.com)

From good-looking builds that embraced the larger design trends (like all-black exteriors and modern farmhouse style) to one-of-a-kind gems (like one designed after a lunar lander, though that may no longer be for sale), here are the tiny homes that stood out from the pack in 2018.  ...read more...


 

 
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Enjoy the Penthouse Lifestyle in the Heart of Ottawa. 1454 square feet of luxury, with 2 bedrooms plus a den. 24 hour security, indoor pool, concierge, 2 gyms, underground parking. 2604-234 Rideau $699,900

904-200 Rideau Street Spectacular views from the rounded window wall up to Parliament Hill and over the Byward Market to the Gatineau Hills. 2 bedrooms & 2 full bathrooms with in-suite laundry & underground parking in the heart of the city.
SOLD
 
High & Dry And Right Beside Mississippi Lake Very private. Used as a cottage, but easy to make into a 4 season home. 217 Squaw Point Road, Carleton Place $449,900 COMING SOON
Want to enjoy Ottawa’s Vibrant downtown in your OASIS with great sunset views all year long? Situated almost on
 top of one of the Light Rail Stations, it won’t get any more convenient!  SOLD
Your home here!
Fill out our Seller Profile Form if you're thinking of selling, or email eric@ericmanherz.com or call 613-601-6404 any time!
Copyright © 2019 Eric Manherz, All rights reserved.


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