Oksana Shevchenko
Broker, M.Sc., B.A.(Hons), MCNE

Ottawa Real Estate News

"Catch 22" Defines the April Resale Market

Low inventory conditions continue to persist throughout Spring. Several factors continue to have an impact in this regard including the lag in new construction coming to market and the reluctance of potential sellers who are facing limited options when they are buying within the same market. Add to this a stress test for buyers, that can limit purchasing capacity in a market where prices are accelerating, and it becomes a "Catch 22" situation for the foreseeable future. Residential supply is down 18%, and condo inventory is down almost 40% from last April. Despite this tight supply, the residential market is holding its own and the increase in unit sales is effectively coming from the condo market which until recently, was in a surplus.

Spring Maintenance Ideas for Your Home

  • Exterior inspection and repairs
  • Clean out the gutters and downspouts
  • Look for moisture
  • Maintain your heat recovery ventilator (HRV) and other ventilation equipment
  • Begin spring landscaping

January's Record-Breaking Home Sales!

The average sale price of a residential-class property sold in January in the Ottawa area was $432,829, an increase of 1.5 percent over January 2018. The average sale price for a condominium-class property was $283,990, an increase of 7.7 percent from this month last year.

Canadian Home Prices See Healthy Gains in the Fourth Quarter

Tight rental markets, record levels of immigration, and a wave of Millennials looking to buy their first homes are putting pressure on limited housing stock in many of Canada's metropolitan regions.

Home Renovations with a Great Return on Investment

See full article for tips on high budget renovations as well as smaller do it yourself improvements.

New CMHC Guidelines: Financing For Self-Employed

Borrowers who have been self-employed for less than 24 months can now be considered through additional factors such as purchasing an existing business, predictable earnings, and even the type of training and education they have.

Celebrating 20 years of restoring hope and rebuilding lives

In 1998, the Royal LePage Shelter Foundation was established to support women's shelters and domestic violence prevention programs.

Fall tips for the perfect spring garden

Autumn is the perfect time to lay the groundwork for a gorgeous spring garden. Experts say this time of year is critical for how your yard will look year-round.

A Sizzling Summer for Ottawa Real EstateMembers

The average sale price of a residential-class property sold in July in the Ottawa area was $441,206, an increase of five percent over July 2017. The average sale price for a condominium-class property was $280,526, an increase of 5.3 percent from July 2017.

New tax on Ottawa Airbnb rentals

Ottawa was the first Ontario city to enter into a Municipal Accommodation Tax collection agreement with Airbnb. In January, the City of Ottawa imposed a four percent Municipal Accommodation Tax on hotel rooms in Ottawa. The money is used to support the tourism industry.

Bank of Canada shifts tone on rate announcement, signaling likely July hike

"Developments since April further reinforce the governing council's view that higher interest rates will be warranted to keep inflation near target," the statement said. "Governing council will take a gradual approach to policy adjustments, guided by incoming data."

Summer projects to boost your home's resale value

Bidding wars intensify as Ottawa homebuyers hit perfect storm

Houses in Ottawa's hottest neighbourhoods are selling at record prices as buyers compete in a market plagued by a shortage of resale homes.That shortage, combined with growing demand and a shift among realtors toward a more aggressive sales strategy, is creating ideal conditions for bidding wars the likes of which the capital has never seen. Just last week, ...

Spring Home Maintenance Checklist

  • Roof
  • Exterior Walls
  • Foundations
  • Windows
  • Air Conditioning
  • Leaks

Ontario's Top 10 Cities for Real Estate Investment Report Released

A new report released last month shows Ottawa, our nation's capital, has the growth, diversity and strength required to lead the province in real estate market performance over the next five-year period. Ranked in order of potential for housing market strength over the coming five-year period:
  • 1. Ottawa
  • 2. Kitchener-Waterloo-Cambridge
  • 3. Hamilton
  • ...

Emptying the Nest

How Parents are Helping their Kids Buy Homes

Selling your Home in Spring

  • Prioritize Repairs
  • Stage Your Home
  • Get Your Paperwork in Order

Higher interest rates won't 'break consumers' backs,' says CIBC

The average sale price of a residential class property sold in February in the Ottawa area was $429,600, an increase of 2.7 percent over February 2017. The average sale price for a condominium-class property was $273,174, an increase of 5.6 percent over February 2017.

New CMHC survey provides insight into attitudes and expectations of future Canadian homeowners

  • Top motivators for buying a home
  • Housing expectations
  • Financing and saving for a down payment

Ottawa Residential Average Sales Chart from 1956 to 2017

Find the average sales price and percentage increases over the previous year.

Helping Women And Children Escape Violence And RebuildTheir Lives

To make a meaningful difference at a local level, the Royal LePage Shelter Foundation matches Royal LePage offices with a women's shelter in their community.

New OSFI StressTest Set to Limit National Home Price Appreciation to 4.9% in 2018

Home prices in Ottawa are forecast to increase 3.2 per cent in 2018, rising to an aggregate price of $458,208, reflecting the strong economic growth anticipated in the region through next year.

The Days Of Talking Mortgage Rates At The Water Cooler Are Over

Consider two couples looking to purchase the same house at 456 Maple Lane with a purchase price of $400,000. Both sets of clients have excellent credit history and great job stability. Bob and Barbara are looking to put a down payment of 5%, giving them a loan to value of 95% which is a high ratio mortgage. Shawn and Steve will be putting a down payment of 20%, giving them a loan to value of 80% which is a conventional mortgage. In terms of who gets the better rate, Bob and Barbara with less down payment and a high ratio mortgage will get the lower rate of the two couples.
Wait... WHAT?! Shouldn't the couple with more down payment get the better rate?

Preventing Flooding

  • Slope ground away from the foundation to allow rainwater to flow away from the home.
  • Seal window wells and cracks in floors, walls and the foundation.
  • Direct water from downspouts at least 4 feet away from the foundation. Downspouts should never be embedded in the ground, or connected to the sewer system or fooding drains. Water should flow to ground surface or storm drainage system.
  • If you have a sump pump, ensure that it is connected to the storm sewer system or empties onto the lawn at least 4 feet from the foundation wall.

What To Do When it Could Not Be Avoided?

  • SAFETY FIRST! DO NOT enter your basement if the water level is above any plug, electrical outlet, extension cord or baseboard heater. Call Ottawa Hydro 613-738-6400
  • Call your Gas supplier (Enbridge 24-hour service line 1-866-763-5427) if the flood water is threatening your gas powered furnace, water heater or stove.
  • Remove standing water with a sub-pump or buckets, then with a wet/dry shop vacuum.

Study Suggests Millennials Could Improve Finance Habits

  • Live like a college student for a few years!
  • Skip the new car
  • Automate
  • Make more money

What To Do When it Could Not Be Avoided?

  • SAFETY FIRST! DO NOT enter your basement if the water level is above any plug, electrical outlet, extension cord or baseboard heater. Call Ottawa Hydro 613-738-6400
  • Call your Gas supplier (Enbridge 24-hour service line 1-866-763-5427) if the flood water is threatening your gas powered furnace, water heater or stove.
  • Remove standing water with a sub-pump or buckets, then with a wet/dry shop vacuum.

Essential fall gardening tasks for beauty year-round

Autumn is the perfect time to lay the groundwork for a gorgeous spring garden. Experts say this time of year is critical for how your yard will look year-round.

Declutter the garage in five easy steps

After living in a home for a number of years, chances are your garage has accumulated some clutter. A home's garage can be a key selling feature, it is important to keep it functional, organized and appealing. You may want to organize things but don't know where to start.