Hottest April on Record for Resale Housing Market

Members of the Ottawa Real Estate Board (OREB) sold 1841 residential properties in April through the Board’s Multiple Listing Service® (MLS®) system compared with 1591 in April 2009, an increase of 15.7 per cent.

"Last month’s sales blew away the record for April, which is always one of the busiest months of the year for our market," said OREB’s President. "The increased sales activity may be partially due to buyers trying to avoid the impending HST* and the mortgage changes that came into effect on April 19, but also demonstrates that consumers feel confident about our local economy," he added. The President predicts a return to a balanced market in the second part of 2010 as more listings become available.

The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $332,979, an increase of 11.6 per cent over April 2009. The average sale price for a condominium-class property was $254,220, an increase of 17.4 per cent over April 2009. The average sale price of a residential-class property was $356,617, an increase of 11.7 per cent over April 2009.

*The 13-per-cent harmonized sales tax will not be applied to the purchase price of resale homes, but is expected to boost the cost of associated services, from legal fees and real estate fees to home inspections.

Source: OREB and the Citizen

A Home by the Water

Sunset over the lake. A boat tied up to your own personal dock. Fishing and swimming seconds from your back door. Many of us dream of living in a home that adjoins a body of water. But buying, owning and maintaining a waterfront property isn’t as easy as you may think. First of all, not all waterfront properties are alike. Living by a peaceful lake can have different challenges than cohabiting with a rushing river. Many real estate professionals have extensive experience helping people purchase and sell waterfront properties, so finding one that can help you navigate the waters is a great idea.

If your waterfront lifestyle will include recreational activities like boating, swimming or fishing, be sure to find out what type of access you would have to the waterfront, based on the land title. The waterfront may be part of the property title, or the owner may simply have deeded access to it. If there is a beach, check whether it is private, community only, or public. Your real estate professional and lawyer will be able to help you get this information before you consider making an offer on a waterfront property.

Also, renovating, improving or significantly changing a waterfront property may require extra planning and permission from organizations such as Parks Canada or the local conservation authority, in addition to the usual municipal planning and permit issues. Those organizations work to protect environmentally sensitive areas, wetlands, fish and animal habitats, and natural shorelines. They also conduct water quality testing, undertake flood forecasting and issue warnings, and can be an excellent source of information and advocacy for waterfront homeowners. Making changes to waterfront property without proper approval can carry significant fines, so be sure to check with your local conservation authority before you build or tear down.

Once you have permission to renovate or landscape, consult experts to make certain you’re working with the land in such a way that any new buildings or systems (such as septic or wells) will not be compromised by the water or natural erosion of the shoreline.

Finally, you want to make sure the nearby water will stay out of your home. Flooding is possible almost anywhere, but the risk is magnified when a property is adjacent to a body of water. For a quick check when you’re first thinking about waterfront properties, the City of Ottawa’s e-Maps feature (located on their website www.Ottawa.ca ) allows you to view the location of flood plains throughout the city so that you can choose neighbourhoods with lower risk. However, when you are considering making an offer, a home inspector who’s experienced in assessing waterfront properties can help you determine what the flooding risks are with that particular property, and can offer concrete suggestions about how to prevent flooding in the future.

A waterfront property can provide you and your family with many opportunities for recreation and relaxation. By doing your homework and consulting with waterfront experts including real estate professionals, home inspectors and conservation authorities, you can buy that lakefront home or riverside cottage with greater peace of mind.

Source: President’s Pen, OREB

High Humidity in the Home

Relative high humidity in your home encourages mould growth and dust mites, can make your house smell musty, and can potentially damage your home and your possessions. In simplest terms, "relative humidity" refers to the amount of dampness in the air. Following are suggestions for addressing high humidity.

Measure It

You can measure humidity levels with an inexpensive device called a hygrometer, easily obtained at any hardware store. Take a measurement in a few areas to see if the problem is localized, or if the house is humid throughout. A humidity level of 50% is normal for the summer. In the winter, the ideal indoor humidity depends on the outdoor air temperature and may be 30% or less on colder days.

Control Humidity at the Source

Whole House High Humidity

• Lack of ventilation – newer homes are "tight," meaning well-sealed, restricting ventilation. Without fresh air circulation, humidity builds up inside your home (only an issue during heating season when the windows are closed). Consult an expert on ventilation.

• Oversized central air conditioner – central air conditioning is an excellent dehumidifier. An oversized central air conditioner, however, has on-cycles that are too short to effectively remove humidity. Also, the cold air may actually increase the relative humidity, making your home colder and clammy.

• Caution – a gas-fired appliance not venting properly may cause high humidity. If you have any doubt, immediately contact a qualified heating contractor to investigate.

Localized High Humidity

• Overcooling – if an area, such as a basement, gets too much cold air supply, you may create condensation and a high humidity problem. Adjusting the supply registers prior to the cooling season may help.

• Clothes dryer discharging into house – this situation creates a huge source of moisture concentrated in a small area. Clothes dryers should discharge to the exterior even in winter. Verify that the discharge pipe is clear and connected properly at the back of the dryer.

• Bathroom fans – showers and baths add a great deal of moisture. Install an exhaust fan.

• Basement dampness – before you crank on a dehumidifier, find the moisture culprit and reduce or eliminate it at its source.

• Crawlspace dampness – put a sheet of plastic over a dirt floor crawlspace to keep the dampness down. The plastic is usually covered in sand or gravel. Note: if you have not installed the plastic yourself, you may not see it immediately.

Dehumidifier

A dehumidifier may be your only way to control moisture in a damp area. A dehumidifier removes moisture from the air and drains the liquid into a reservoir or drain. It is designed to work in an environment of 65 degrees F (18 C) or higher. If the room is colder, the dehumidifier may ice up. In this case, shut off the unit until it has defrosted then turn it back on. You may also have to increase the temperature of the space. Some units will operate down to about 42 degrees F and automatically defrost when they ice up.

Buy a dehumidifier sized appropriately to the space. An undersized unit will not achieve desired humidity levels. But be aware that dehumidifiers use the same amount of energy as a small window air conditioner; that is, quite a bit.

Source: Pillar to Post

Clutter

Preparing a home for sale requires more than an average cleaning. Most sellers understand that they must keep their house neat and tidy in order to attract potential buyers, but many may be overwhelmed or sidetracked when faced with seriously removing clutter. Beyond dusting and scrubbing, a de-cluttered home shows off its spaciousness and allows potential buyers to imagine themselves living there. Here are a few proven strategies to help homeowners take control of their space.

Empty it Out:

Once you have identified your clutter hot spots it's time to pull everything out of that closet, shelving unit, or drawer and sort through what you really do and do not need. Start slowly and resist the urge to go into a frenzied clean. A successful purge requires time, commitment and motivation.

The Uselessness of Potential:

Sometimes the hardest things to let go of are the things we've never used. Giving up on the idea of what that thing could be is an important part of letting it go. This is true for the things we've used but may never use again. A good rule of thumb: if you haven't used it in a year then you probably don't need it.

Give it a Home:

Staying organized sometimes means finding a place for something and keeping it there. Key rings, newspaper racks, bill holders, and plastic storage containers can all help calm that "where did I put it?" frantic feeling.

Get it Out: Once you have made a pile of things to be cleared out the final step is making sure it gets out of your house! A yard sale can clear out the clutter and bring in some extra cash. If putting together a sale is too much work, donate your extra goods to your favourite local charity.

Kick the Habit:

Once you've cleared out the clutter, it's important to adopt habits that prevent the problem from occurring again. Establish routines to help such as sorting mail over the recycle bin, always keeping a "give away" box in your hallway, and thinking twice about whether or not you really need something before you buy it. Cutting down is another way to fend off clutter.

Source: Canadian Residential Inspection Services

Make a List ... Check it Twice

Quick – name all the DVDs you own. Too hard? Fine, then – just tell me how many you have. Unless you regularly catalogue your belongings, you probably have no idea. So what would you do if they were all stolen, or destroyed by fire, and needed to be replaced? Insurance companies need to know what you owned in order to replace it. That means you need to know, too.

Creating an inventory of your possessions and keeping it up-to-date can not only help you figure out what you need to replace in the event of a catastrophe, but it can also help your insurance company estimate how much coverage you need to purchase in the first place. Before you start, ask your insurance company what information they will require in order to estimate replacement costs for your belongings.

A camera is your best friend when it comes to inventory. Photos offer proof of ownership to your insurance company in the event that you need to make a claim, and they also act as a handy shortcut for you. Rather than writing out the titles of every DVD or describing each piece of clothing, take close-up photos where you can see detail of the contents of drawers, storage boxes, closets, and bookshelves; also photograph your electronic devices, appliances, art on the walls, lamps, furniture – everything you can imagine needing to replace. Then create a written list, cross-referenced to your photos, that includes the information your insurance company requires, which may include a brief description of the item, its purchase cost, condition, the year you acquired it, and the quantity you own.

If you have antiques or other high-value items, have them professionally appraised to find out their true replacement value. It’s also a good idea to record the make, model and serial number of all your appliances and electronic devices. A free program from the Ottawa Police Service called Operation Identification allows you to borrow an engraving tool for three days and use it to engrave identifying information on your electronic items (TV, DVD player, laptop, etc) so that if they are stolen they may be returned to you if recovered.

Once your photographic and written inventory is finished, keep a copy in your safety deposit box or with a friend or neighbour (that includes print-outs of your photos); have a hard copy on hand for reference; and maintain an electronic copy on your computer that you can add to and subtract from whenever you buy something new or get rid of something. Don’t forget to update the photos on a regular basis as your possessions change.

The best way to avoid having to replace your belongings is to take precautions against fire, flood and theft. Landscape your property to send rainwater away from your foundation; maintain your roof properly to avoid leaks; install and regularly check smoke detectors on every floor of your home; and have a free safety audit conducted on your home by the Ottawa Police to help lessen the possibility of break-ins. You may never need your inventory, but if that day comes, it sure can be a relief to have the information already at your fingertips.

Source: President’s Pen, OREB

Hot Water Tank Safety

When replacing your hot water tank make sure that it is properly installed by a professional who understands the importance of the "temperature/pressure release valve" and the "discharge pipe" as well as their function.

It is extremely important that your hot water tank has a properly installed and functioning temperature/ pressure release valve and discharge pipe. The valve will either be on the top of the tank or on the side near the top. This valve must not be capped off or plugged in any way. If it is, there is no way for pressure to be released. The discharge pipe is a pipe attached to the valve that, in case of pressure, will direct the steam towards the floor, into a bucket.

If the heating element and/or thermostat were to malfunction, the temperature of the water inside the tank would increase to the point where it is producing steam. If the situation progresses, and there is no outlet for the steam, the increased pressure could cause the hot water tank to explode. The purpose of the temperature/ pressure release valve and the discharge pipe is to prevent this from happening.

Source: Canadian Residential Inspection Services

Prepared by Robert Daley, Sales Representative, Coldwell Banker Rhodes & Company Brokerage