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Gerard Windle

A blog about Real Estate. With Ottawa changing on a daily basis, I'll be taking your questions and answering them. Feel free to email me with topics you would like covered.

When is the right time to buy my first home?

'I'm not sure if I'm the type of person who should own.  I'm very happy renting because someone else looks after the maintenance.  Its a lot of money and I'm frugal.'

No doubt about it; buying that first home is a huge step.  There's the purchase price.  And choosing a neighbourhood. And understanding all the paperwork; lender approvals; negotiating the Offer; inspections; ... 

Well if its that intimidating why do we buy?  Because at the end of the day its nice to have a place to call home.  Its about belonging.  Its about saving for tomorrow.  Its about doing the grown up thing. 

The right time is when you feel the need to nest.  Not because someone tells you to buy.  No, it has to come from within.  Sure its important that you weigh the pros and cons.  Equally important that you listen to your trusted advisors whether they be your parents or your financial advisor or that special someone who is always there for you.  And in your heart of hearts you'll know its time.

Call me when its time and I'll buy you lunch.  And over lunch I'll share 25 years of stories and knowledge (knowledge comes after information and experience).

Gerard Windle, Broker

Keller Williams Ottawa Realty

gwindle@kwottawa.ca  or call me direct 613-795-2595

by Gerard Windle, Broker | 0 Comments

2 Story For Sale in Springridge

768979_700 bergamot exterior
HARDWOOD FLOORS

• 3 bath, 3 bdrm 2 story - MLS® $302,000 - GAS FIREPLACE

 -  IMMACULATE 3 BEDROOM, 3 BATHROOM FREEHOLD IN SPRINGRIDGE, ORLEANS!
JUST A HOP AND A SKIP TO SCHOOLS, TRANSIT, SHOPPING AND RECREATION.
GLEAMING HARDWOOD, GOURMET KITCHEN WITH OVERSIZED EATING AREA AND FULL SIZE DINING ROOM.
THE MASTER BEDROOM FEATURES A PRIVATE 4 PIECE ENSUITE BATH AND WALK-IN CLOSET.
FULLY FINISHED LOWER LEVEL FAMILYROOM WITH GAS FIREPLACE.
5 APPLIANCES, CENTRAL AIR CONDITIONING, ...

Property information

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PRICE ADJUSTED: 2077 BERGAMOT CIRCLE, ORLEANS in Springridge

Springridge, Ottawa  -  Announcing a price adjustment/reduction on 2077 BERGAMOT CIRCLE, ORLEANS, a 3 bath, 3 bdrm 2 story. Now MLS® $302,000 - GAS FIREPLACE/FINISHED BASEMENT.

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Two Story Semi-detached For Sale in Elmvale Acres

Quiet cul de sac across from the Open fields

SHORT Walk to CHEO, the General Hospital and Elmvale Shopping Center. Vincent Massey P.S.; Pleasant Park P.S., Hillcrest H.S., Franco-Cite Catholique Secondaire, ...

2 story - $339,900 - Great Neighbourhood (plenty of biking and hiking)!!!  Minutes to downtown.

DIRECTIONS: from Smythe turn at the lights (north) onto Botsford and left to -  678 Hastings Road,

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678 Hastings Avenue in Elmvale Acres

Elmvale Acres, Ottawa  -     Now $339,900 - Great location in a Great Neighbourhood!!!. Quiet cul de sac.  Home faces open spaces.  Walk to CHEO and General Hospital.

Large principal rooms. Parking for 3 cars.  Big backyard with southern sunshine exposure.   

Property information

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Own for less than you pay in RENT! 16-266 Lorry Greenberg Drive, Hunt Club Park/South Keys

Hunt Club Park, Ottawa 16-266 Lorry Greenberg Drive, 2 bdrm, 1 bth with parking. 

Now MLS® $177,000 - PRIVATE WALKOUT PATIO.

Ground floor; its like living in a bungalow.  Bright south facing corner unit with extra windows; separate dining room.  

Private in-unit laundry includes washer and dryer. 

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The Longer you RENT, the LESS you OWN!

And the sooner you start to build your own equity, - the better your life.

Everyone needs to live somewhere (after all this is Canada and there are 6+ months that are uncomfortable for tenting).

Why would you rent?  Maybe you're going to school.  Maybe you're unsure how long you'll be in Ottawa.  Maybe you have an aversion to making big decisions.  There are a thousand reasons for not buying.  But if you choose ownership then let us show you whats available.  We can help arrange downpayment and assist you with government programs (tens of thousands of Canadians used the FTHB Plan to buy their first home).  

MLS® $177,000 - PRIVATE PATIO

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Stop Renting and Pay Yourself First!

Whats the difference between renting and owning?

When you rent you pay your landlord's mortgage.  When you own you pay your mortgage.  And when you finish paying your mortgage you have an asset that is worth hundreds of thousands of dollars; plus when you're ready to retire you need never worry about paying rent or rental increases.  Of course you'll be responsible for paying real estate taxes but thats a small price to pay for securing your future.

What will $1,000. (one thousand) a month buy in Ottawa?

A beautiful 3 bedroom with hardwood floors in a great neighbourhood close to schools (daycare at the corner) and shopping. And minutes to downtown.

Where would I get the best mortgage and the lowest rate?  What if I don't have the downpayment?  How do I get started?    

Call Gerard Windle, 613-795-2595 mobile and 613-236-5959 (paging), Broker with Keller Williams Ottawa Realty.  I've been helping Buyers just like you for 25 years. 

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Do you know about Tarion?
Tarion’s Role

Tarion ensures new home buyers receive the statutory warranty coverage they are entitled to under the Act.  Most issues are resolved by builders without involvement by Tarion, however Tarion will intervene if a builder fails to honour their warranty obligations.

Statutory warranty coverage is different from the warranties for items provided by manufacturers, suppliers or subcontractors (such as appliances or flooring).  Claims for these items should be made directly to the product provider.
 

The statutory warranty protection is broad, but it is not all inclusive. The warranty coverage has limitations and exclusions. Home buyers are encouraged to understand the scope of warranty coverage.  The statutory warranties are in addition to any warranties or rights the homebuyer may have under contract or otherwise.

by Gerard Windle, Broker | 1 Comments

2 Story For Sale in Avalon

Bergamot 2077 front
Stylish 3 Bedroom Town

• 3 bath, 3 bdrm 2 story - MLS® $306,000

 -  Contemporary & stylish Richcraft Charleston home close to great schools. Elegant flooring, bright, open living spaces, great kitchen with modern appliances, big eating area & walkout to backyard. Move in ready with 3 large bedrooms, 3 baths, master with ensuite, walk in closet, fully finished basement with fireplace & storage. Garage & private driveway.

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1411 Kilborn, Alta Vista, Ottawa

1411 Kilborn
Grand Familyroom!

• 3 bath, 3 bdrm - MLS® $489,000 - 2 Storey Detached!!!

  -  Beautifully maintained 3 bedroom, 3 bathroom home in Applewood Acres (thats the heart of Alta Vista). How well is this home located? You can hop on the bus and go directly to work downtown (Bank and Laurier in minutes).  And the kids can walk to school. Surrounded by parks and tree lined streets and home to great shopping along Bank Street..
50x100' lot (big, lush, private backyard - see photos). Party size deck off the familyroom and smaller BBQ size landing off the kitchen.
Big Principal rooms. For example the main floor familyroom is accented with a wall to wall and floor to ceiling heatilator brick fireplace and oak parquet floor AND a wall of glass windows and doors that open onto the backyard.
The south facing living and dining rooms are interchangeable (you decide which works best with your lifestyle). Lots of kitchen counterspace and a separate eating area.
Second floor features the 5 piece main bath; an oversized master bedroom with a 4 pc. ensuite and walk-in closet and 2 additional bedrooms.
The lower level is unspoiled with high ceilings (drywalled and ready for your plans).

 

Property information

by Gerard Windle, Broker | 19 Comments

The Ottawa Spring Real Estate Market

Spring is just around the corner.  Winter is taking its last breaths.  Days are getting longer and warmer.  And everyone is stepping out and getting reacquainted with their neighbours.

And the home buying season is upon us.  Corporations, Federal Government, the armed forces and the RCMP are ramping up the relocations.  March, April, May and June have historically accounted for the most listings coming to market and this year is no different.  The majority of the buyers and sellers are influenced by the school year (moving in the summer months so the kids can start in their new school in September).

All the indicators point to a robust market with a slight increase in the average sale price.

 

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CMHC - an excellent resource.

Canadians are blessed with stable banking, good government and lots of natural resources.  And some excellent resources that are supplied and supported by our government and banks.  Canada Mortgage and Housing is the motherlode of information on Canadian real estate.

Wondering if its a good time to buy?  CMHC has been religiously tracking the market.  They have stats coming and going (the future and the past).  And they break it down into the market that matters to the buyer (ie) Ottawa. 

How much can I afford to spend on shelter?  The name says it all, -Mortgage/Housing.  Their website has the tools to work you through from household budget to a practical monthly mortgage payment (remembering you've got to eat daily).

I'm a believer in sharing (what goes around, comes around).  So let me know if I can point you to where the right information is kept.

cheers

Gerard Windle, Broker,   Keller Williams Ottawa Realty 613-795-2595 

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What's the harm in listing my property above the market value?

Have you ever heard a Seller say “Whats the harm in listing my property 10 or 20 per cent above the market value?  The Buyer can always make an offer.”

There are a couple of things that happen when a residential home is overpriced. 

First it helps sell the competition.  Unless this is the only home on the market and a Buyer has no choice the chances of getting an offer are slim.  Buyers will often look at 10 or 12 homes that meet their criteria and become educated as to what their dollars will buy in the location that interests them.  If they do view an overpriced home they quickly compare it to everything they have seen.  Often they will feel a sense of urgency to race back and buy something for much less that has the same features.

The second part of the overpricing problem is what happens if a Buyer does make an offer conditional on financing.  The lender is obligated to protect the money it lends in mortgages.  When the appraised value comes back the lender they tell the Buyer they will lend on their appraisal, not on what the Buyer offered.

And as time goes by the perceived value of the property goes down. See the attachment for a graph of how the Ottawa Market demonstrates this.

For more information on this topic or to help you, your family or friends to invest in their homes or income property call me, thanks

Gerard 613-788-2107

 

by Gerard Windle, Broker | 1 Comments


Attachment(s): dom effects on sell price.JPG

Does it matter when I buy or sell?
Does it matter when I buy or sell?”  This is one of the most common questions that I answer. 

 ‘A picture is worth a thousand words’ so I’ve attached a graph indicating the number of residential units sold by month (includes condominium).

There are varied influences affecting the decision making process.  The sale of owner occupied property in the Ottawa market tends to run hottest through the spring and early summer.  Much of this is driven by the desire by parents to move in June, July or August so as not to disrupt their children’s school year.  The child can finish in one school and start fresh in another.

And some moves are prompted by buyers and sellers that get ‘bitten by the bug’.  You know the feeling, -its been a long, dark, cold winter and now the birds are singing and the days are longer and the winter clothes are packed away.  You wake up one morning, look around and say “We need more room” or the reverse  “the kids are gone, this place is taking too much of our time to maintain.  Why don’t we sell and get a condo downtown?”

Call me if you would like more information on how this affects your bottom line.  Thanks,  Gerard 613-788-2107

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Attachment(s): Units sold by Month.JPG

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