Archives for Real Estate News

Primary Residence Tax Exemption

The federal government has recently made some changes to the Canadian tax system regarding the capital gains from selling residences. Some people are quite worried about what these changes, which you can find directly from the CRA, may come to mean when they sell their homes, but you shouldn’t panic. These changes will not greatly affect most homeowners, who only own a single home they live in. What will stay the same: The capital gains tax exemption from selling a principal residence will not change. This means that any profit you make on selling your home, as long as it is
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Ottawa Real Estate Snapshot May 2017

Another record breaking month in the Ottawa Real Estate market with the highest number of properties sold in one month ever recorded! The Ottawa condo market is gaining significant strength, with 44 Condos sold last month, that’s 44.6% more than May 2016.  We are still seeing lower than normal inventory, more multiple offer situations and fewer days on the market which is good for sellers but with prices remaining “relatively steady”, it is also good news for Buyers.  Check out the highlights below and send us an email to info@teamrealty.ca for details and info on specific properties, we love to
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Why Listing Price is So Important

What is your home worth? This is a tricky question and there are many factors to consider including condition, upgrades, market trends, and comparable properties in your neighbourhood.  The listing price of a home can make or break a sale so it is always advisable to work with a real estate professional who will do the research and advise you on the best listing price for your home to ensure not only that it sells quickly but also for the best possible price. Why is the original listing price so important? “First impressions are everything when selling your home. Studies
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Canada 150: Let’s Celebrate!

Canada Day is coming up, and there is no shortage of celebrations to enjoy on July 1st this year. With Canada turning 150, there’s no better time to join in the festivities. If you are looking for something fun to do this Canada Day with friends and family, here are some suggestions. Downtown Events The Canada Day events hosted in downtown Ottawa are always the biggest and most impressive, and this year looks to be no exception: Parliament Hill – Parliament Hill will be holding Canada Day events from morning till night, including ceremonies, shows, activities for young and old,
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Latest Real Estate Market Snapshot: April 2017

Curious about what’s going on in the Ottawa Real Estate Market?   Below are some highlights of our April 2017 market.  Curious about a certain area?  Please contact us and/or one of our Sales Representatives  for details, we have up to date statistics on all Ottawa neighbourhoods and the surrounding areas. Spring Market Continues to Blossom! News release from the Ottawa Real Estate Board, May 3rd, 2017 OTTAWA, May 3, 2017 – Members of the Ottawa Real Estate Board sold 1,795 residential properties in April through the Board’s Multiple Listing Service® System, compared with 1,711 in April 2016, an increase of 4.9
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Bang For Your Buck: Renos That Will Increase Your Home’s Value

Homeowners invest a lot of money into their homes, and a big part of that investment comes from performing renovations. Besides the obvious benefits of making a home nicer to live in, renovations can also have the side benefit of increasing a home’s value when it comes time to sell. Below is a list of some of the home renovations that have been shown to add the most to a home’s value, as well as some renovations to avoid. Flooring Flooring can be a costly renovation, but can also add to a home’s value if it is done properly. Generally
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Choosing a Brokerage when Buying or Selling a Home

When it comes time to buy or sell a home, finding the brokerage to work with is a very important step to take. You need to find a company that will work with you to make this the most positive experience possible. “At Royal LePage Team Realty we commit to delivering high quality, industry leading and innovative real estate products and services on a complete cost-effective basis. Our business relationship will be characterized by the highest degree of honesty, credibility and fair dealing.  We are committed to setting the pace in service excellence. We commit to delivering a level of
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Ottawa Real Estate Update | March Goes Out Like a Lion

Second best March on record for units sold, multiple offers, fewer days on the market and the average price for a residential home over $415K spring has definitely sprung in the Ottawa Real Estate Market! From the Ottawa Real Estate Board April 5th, 2017 OTTAWA, April 5, 2017 – Members of the Ottawa Real Estate Board sold 1,485 residential properties in March through the Board’s Multiple Listing Service® System, compared with 1,160 in March 2016, an increase of 28 per cent. The five-year average for March sales is 1,240. “The busy spring selling season descended upon Ottawa early this year,” remarks
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6 Spring Maintenance Tips for Homeowners

  As the snow finally melts after what has seemed like a never-ending winter, it’s time to start thinking about all the spring maintenance tasks that you will need to around your home. Spring always feels like a fresh start so use that as motivation as you work around your yard and home! Here are 6 spring maintenance tasks for homeowners: Check the roof There is no need to pull out a ladder at this point; stand back from your home and do a visual inspection: “with binoculars and a keen eye, you can probably spot trouble.” Winter snow and
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“Oh I Forgot to Tell You…”

Picture this, you have just taken possession of your dream home. You did your due-diligence; the property passed the home inspection with flying colours and your research shows the neighbourhood is safe and has great schools. You are chatting with a new neighbour only to find out that your brand new home was once the site of a violent crime or a drug operation, or that it is thought to be haunted! Would this bother you? What can you do? Did the previous owners fail to disclose something that they were legally obligated to? When selling a home, known physical
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