2009 a record year for resale home sales, despite slow start

Members of the Ottawa Real Estate Board (OREB) sold 689 residential properties in December through the Board’s Multiple Listing Service® (MLS®) system compared with 467 in December 2008, an increase of 47.5 per cent. This brings the total number of residential properties sold through MLS® in 2009 to 14,742, up 7.4 per cent from 2008 and setting a new record. The previous record of 14,565 sales was set in 2007. The average price for all of 2009 was $303,888, an increase of 4.9 per cent over 2008. Of December’s sales, 185 were in the condominium property class, while 504 were in the residential property class.

"Ottawa’s housing market felt the chill of the global financial crisis last winter, but sales warmed up even before the spring weather arrived, and over the course of the year Ottawa had five record-breaking months of sales. Listing inventory was at a low level throughout 2009, which led to many multiple-offer situations," said OREB’s President. "Ottawa’s housing market bounced back very strongly from its brief downturn, and we ended the year ahead of the previous annual sales record, which certainly no one expected back in January," he added.

The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $307,807, an increase of 13.1 per cent over December 2008. The average sale price for a condominium-class property was $246,062, an increase of 17.9 per cent over December 2008. The average sale price of a residential-class property was $330,471, an increase of 12.8 per cent over December 2008.

Source: OREB

Preventing Leaks from Winter Rooftop Ice

Ice buildup as snow accumulates and melts on roofs in winters is a harsh reality for our Ottawa climate. Attic spaces under roof covers are usually warmer than the outside air because heat from the house rises and gets trapped in these spaces. Inadequate insulation levels increases heat loss from the house and inadequate ventilation from the eave and at the top of the roof allows the heat to build up. "Hot spots" on a roof at skylights, exhaust vents, uninsulated hatches or low roof edges can make the problem even worse.

Ice buildup with continued melting on a roof allows a pool of water to form behind the "ice dam". Sloped roofs covered with asphalt shingles have almost no ability to prevent leakage between shingles when these pools form. The result is the water runs between the shingles and leaks into walls and ceilings causing interior damage.

To prevent rooftop ice from causing damage to your home consider the following recommendations:

• Recognize the type of roof cover on your home to see if it is susceptible to leaks. (The long-term goal is to improve the attic insulation levels and ventilation openings.)
• Low profile roof vents at the top of the roof can actually get blocked, consider higher profile vents for lower pitched roofs.
• Include ice shielding under your shingle roof cover in high risk areas.
• In the short term, have professionals remove snow accumulation from the roof before ice forms. Removing ice is costly and can result in roof damage.

For more information visit www.cmhc-schl.gc.ca.

Source: Property Inspection Network

Condo or freehold – what’s right for you?

Anyone who’s ever owned a home will know what those two terms up there in the headline mean. Condominiums include any property, regardless of style, which is registered as a condominium. Freehold properties are those which do NOT have a condominium corporation associated with them. Each property type has its own advantages, and can be the ideal choice for a homeowner, depending on your lifestyle, needs and personality.

Condos, like freehold properties, come in all shapes and sizes, not just apartments: you can find one with a great yard for gardening, an entertainment-sized living room, or extra bedrooms for the grandkids. The main difference between a condo and a freehold property is that with a freehold, the title holder generally owns the property inside and out, including the roof, foundation, and land that the property stands on. With a condo, generally the title holder owns only the interior of his or her unit, as well as a share of any common areas and elements that exist within the corporation description.

Condos generally have a monthly fee associated with them that pays for the upkeep of the common areas, elements and insurance, while freeholds do not. Before you purchase a condo, be sure to investigate what exactly is covered by its fees and investigate the financial health of the Condominium Corporation, as this can differ significantly among condo corporations.

A condo corporation also has the right to create and enforce by-laws (although they must first be approved by the condo owners) governing such issues as pets, noise, and alteration of the common elements.

Condos are great for busy people: if you travel frequently and hate home maintenance (or are simply unable to do it), owning a condo means you may never need to replace a window, shovel snow, mow the lawn or nail down loose shingles. Condos can also be cost-effective for those on a tight budget: they often sell for a lower price than freehold units, and the incremental method of paying for regular maintenance through condo fees is far easier on the pocketbook than coming up with hundreds or even thousands of dollars at once for a maintenance issue.

On the other hand, freeholds are preferred by many people, for a wide variety of reasons. Some people love to spend their weekends working on improving their home, creating gorgeous landscaping, or tackling a "fixer-upper" property. Then there are those who simply don’t want or need the services (from snow removal and grass cutting to fitness rooms and guest suites) that a condo corporation may provide. Freehold owners can do pretty much whatever they want to their home, within the boundaries of zoning and building code requirements. They also have more control over their maintenance expenses, by shoveling their own snow or mowing the lawn themselves, for example.

Whatever type of property you prefer, an experienced real estate professional can help you find the right one for your needs and wants.

Source: The President’s Pen, OREB

Choosing a Shower Head

Selecting the right shower head for economy and ease of use can be a challenge. Here is some helpful information to assist you.

Why is low-flow the way to go? Older shower heads use between 3 and 6 gallons (15 and 30 L) of water per minute, whereas newer, low-flow models use less than 2 gallons (10 L) per minute - and you won't even notice the difference in water pressure. What you will notice though is that your hot-water use will be reduced by up to 50%, which will cut both your electricity and water bills in the process. A family of three could save between $175 and $190 per year (depending on whether they use electricity or natural gas to heat the water) just by switching to a low-flow shower head. Which shower head is best for your needs? 

• Aerating shower heads mix air into the water stream. This maintains steady pressure so the flow has an even, full shower spray while using less water.
• Non-aerating shower hears deliver a strong spray minus the air. The water flow pulses, giving you a massaging effect.
• Multiple-flow shower heads allow you to set the spray from fine to coarse. Some even feature a pause setting, which allows you to stop the water while soaping up, saving even more. The big tip here? Remember to use it!

Source: Pillar to Post

Tricks to Make Your Home Look Larger

Have you ever watched a home staging show on TV and wished your home could appear clean and decluttered, too? Here are some suggestions to help you get started:

Lightening up your furniture. Going neutral isn't just good for walls - its good for sofas, too. Beiges and ivories reflect light instead of absorbing it as darker colors do. The result: a sense of airiness and peace that makes people want to stay.

Enlarging a cramped bedroom. How? A small lamp and a large mirror can do it. Just hang the mirror on one wall and plug in the lamp directly across from it. The light will bounce off the mirror and reflect back, immediately making the room appear larger.

Expanding shelf space. Store half of all personal items and prized possessions in the basement or garage. Too many knick-knacks can make a room look crowded; plus they make it harder for a buyer to imagine what his or her items will look like in the space!

Source: Pillar to Post

Household Hints

• To keep ice cream cones from leaking put a marshmallow in the cones before the ice cream.

• Wipe a thin coat of shaving cream on the bathroom mirror, then buff with a soft cloth to keep the mirror from steaming up.

• Add a bit of vinegar to your dishwater. This will cut the grease.

• Sprinkle the bottom of a burnt pan with baking soda, moisten with water and let it stand several hours. The pan will then wipe clean.

• Use nail polish remover to get the sticky labels off new glass, pottery or plastic items.

• Use an old flour sifter to spread a light layer of earth over newly planted seeds.

• Rust stains on clothing can be removed with lemon juice and salt.

• Clean pewter by rubbing with cabbage leaves.

• Like a pool cue, a screwdriver is less apt to slip if it is first chalked up.

• Don’t store sheets of plywood standing vertically or they may warp.

• A good way to un-stick a door that rubs against a particular spot on the floor or on the doorframe is to tape a piece of sand-paper to that spot. The door will sand itself down.

• To whiten socks, bring to a boil in a pot of water along with a slice of lemon.

• Store plastic wrap in the fridge to keep it from sticking to itself.

Source: Property Inspection Network