Brisk Spring Market

Members of the Ottawa Real Estate Board sold 3102 houses and condos through the Multiple Listing Service® in the first quarter of 2007, compared to 2947 sales during the same period in 2006. This represents a 5.3 percent increase year to year.

"The traditionally brisk spring market got off to a great start. More people are selling, and consumers are buying those homes more quickly," says the president of the Ottawa Real Estate Board (OREB).

The average price of homes sold in March in Ottawa was $273,898, and for the first three months of the year the average price was $267,535. This represents a 6.9% increase over the average sale price of $250,238 during the first quarter of 2006.

Source: OREB

Reports Show Real Estate Is A Good Investment

Still hesitant to get into the market? Perhaps it will help to know that real estate has proven to be a solid investment over the last 25 years. According to a recent study, residential housing values in virtually all major Canadian centres have posted significant gains since 1981.

The report attributes these price gains to a strong economy, job security, consumer confidence and historically low interest rates. "From a demographic standpoint, both baby boomers and generation X continue to express their belief in home ownership by amassing property. Immigration and population growth have also contributed to the health of the residential marketplace."

Another report by Scotia Economics says "the finances of Canadian households are in good shape and household wealth has reached unprecedented highs, thanks to years of solid, uninterrupted economic growth accompanied by falling unemployment and rising home and stock prices." And, in its Long Term Outlook for Canadian House Prices report, TD Economics predicts house prices will rise an average of 4 percent annually over the next 25 years.

Source: The Edge

Tips for a Truly ‘Green' Lawn

Your lawn can be both green and ‘green' by following these suggestions:

• Leave grass clippings on the lawn. Clippings add as many nutrients to your lawn as an application of fertilizer.
• Replace your gas-powered mower. The new generation of push mowers are vastly easier to use than older models.
• Let grass grow to at least 3 inches. This will reduce weeds by blocking the amount of sun they receive.
• Water in the early morning and don't overwater. Early morning watering leads to less evaporation and waste.
• Use homemade pest-control sprays. Homemade remedies are inexpensive and non-toxic. For some simple recipes visit http://www.care2.com/channels/solutions/outdoors/194.

Five Reasons Why You Should Never Sell a Vacant Home
by Jill Mendoza

Vacant homes generally take twice as long to sell, and are the most important homes to professionally stage. Here are five reasons why you should NEVER try and sell a vacant home:

1. People Don't Buy Houses, They Buy Homes

The number one reason a buyer purchases a home is because it "felt home." It was warm, inviting and the buyer made an emotional connection with the home. When have you ever heard of an empty room described as warm and inviting? Sterile, cold and uninviting are the three most popular words to describe an empty room.

2. Without Furniture, There Is No Frame Of Reference

How big is the room? Without furniture it's incredibly difficult to tell the scale and size of a room. When the buyer does not have answers to their questions...they walk away.

What is this room for? Many times a buyer can't even tell if it's the living room or dining room in an unfurnished home. Don't keep them guessing, it only distracts them from considering the home as a purchase.

3. When A Room Is Kept Empty, Buyers Focus On Negative Details

Can you imagine a brand new Mercedes without a paint job? Do you think people would notice the beautiful car or the missing paint?

It's so much easier to notice that crack in the wall, or the chip in the tile when there is nothing else to look at. Home staging capitalizes on the positive aspects of a home, while de-emphasizing the negative aspects in order to position a home that will make an emotional connection with buyers.

4. Only 10% of Home Buyers Can Actually Visualize the Potential of a Home

Nine out of every ten people walking into your home have no imagination of the wonderful possibilities your home has to offer them. Without furnishing a dining room for example buyers would not be able to realize that there is plenty of room for a table and chairs. They just can't picture it. Don't let a simple thing like no furniture or limited furniture ruin your sale. Don't take those odds; they will hurt you in the price significantly!

5. Paying For Two Mortgages Can Get Expensive

Let's look at the facts: a vacant home typically takes twice as long to sell, and the longer something "sits" on the market, the lower the sales price*. Why risk paying two mortgages longer, only to have the sales price lower than it would have been if you had the home professionally staged?

For practical ideas on staging a furnished home, see www.sixelements.com/housefluffingtips.html.

*According to a survey by the National Association of Realtors®

Conserve at Home

Looking for ways to do your part at home in an effort to slow down global warming? Lighting represents about 30 percent of your home's energy use. Replace light bulbs with compact fluorescents and cut down your energy use by up to 20 percent. Replace your old dishwasher, refrigerator and washer and dryer with new EnergyStar models that use half the energy. Hang dry your clothing outside whenever possible, and turn down your thermostat to 25 Celsius in summer and 19 C in winter. All told this can cut your electricity and gas bills by up to two-thirds.

Source: @homewithcoldwellbanker