2007 Best Year Ever for Ottawa Resale Housing Market

Members of the Ottawa Real Estate Board (OREB) sold 583 residential units in December, bringing the total number of residential properties sold through the Board's MLS® system in 2007 to 14,579, setting a new record. The previous record, set in 2006, was 13,782. There were 682 sales in December 2006.

The average price of residential properties, including condominiums, sold in December was $276,532. For the year 2007 the average price was $272,618, an increase of 6.4% over the 2006 average price of $255,889.

For more information on average MLS® resale home prices in other major Canadian cities see http://www.cbc.ca:80/news/interactives/map-real-estate-prices/

Sources: OREB and CMHC

Ontario Government Announces Land Transfer Tax Rebate Expansion

The Ontario Liberal government recently announced proposed legislation that would extend the land transfer tax rebate to first-time buyers who purchase resale homes. The rebate would apply to agreements of purchase and sale that were entered into after midnight on December 13, 2007. Until now, this rebate has only been offered to first-time buyers who purchased newly built homes.

Once this proposed amendment becomes law, all first-time home buyers in Ontario will become eligible for a rebate of up to $2000 of the land transfer tax they are required to pay to the province upon purchase of their home. Until the new law is passed and given Royal Assent, first-time home buyers purchasing resale homes must continue to pay the land transfer tax upon registration. Once the new amendment is signed into law, a refund affidavit will be published that buyers may submit to receive their rebate.

For more information www.rev.gov.on.ca

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 http://www.cmhc-schl.gc.ca/

Source: Property Inspection Network Ltd.

Fire Safety In Your Home

Most fatal home fires occur at night, while people are asleep. Poisonous Gases and smoke can numb the senses in a very short time. Seventy percent of all home fire fatalities occur in homes without a smoke alarm or when the alarm is not operating.

Smoke alarms are the success story of the past quarter century. The home fire death rate has been reduced to a half of the rate before the 1960s with the advent of smoke alarms. It is important for every household to have a good operating smoke alarm system and fire escape plan as follows:

• Choose an alarm that bears the label of a recognized laboratory.
• Install smoke alarms on EACH LEVEL of the home and outside all sleeping areas. Even consider alarms inside each bedroom.
• To increase safety, consider hard-wired interconnected alarms that when one sounds, they all sound. Most municipalities require this now in new homes.
• Alarms should be checked monthly by operating the test button.
• Never paint a smoke alarm. Never place them in corners or close to a wall/ceiling junction. See the manufacturers instructions for proper installation and maintenance. Alarms can be cleaned with a vacuum.
• Replace all smoke detectors once they are 10 years old.
• Make sure everyone knows what the alarm sounds like.
• Plan at least two ways out of each room, especially bedrooms and basements. Agree on a meeting place outside to confirm everyone has escaped. Tell overnight visitors of your plan and meeting place.
• Consider having a fire extinguisher in the kitchen area of your home.
• Carbon monoxide (CO) detectors will not help in fire situations, however if there are any fossil fuel (wood, gas, propane, oil, kerosene, gasoline etc.) appliances or vehicles in your house or garage you are strongly urged to install them.

More information on alarms, escape plans and CO Detectors is available at National Fire Prevention Association http://www.praxiom.org/nfpa.htm or City of Ottawa. http://www.ottawa.ca/

Source: Property Inspection Network Ltd.

Indoor Air Quality Tips

• Frost build-up leads to mold growth. To prevent this, keep closet doors open to circulate air and heat.
• Changing your furnace filter monthly will help trap dust particles and extend the lifespan of your heating system.
• If your home's exhaust fans do not sufficiently control the relative humidity in your home, continuous use of a dehumidfier will be very helpful.
• Use a damp cloth for dusting as the dust particles will stick to the cloth and not re-circulate into the air.
• Running your bathroom fan 20 to 30 minutes after showering will significantly reduce the potential of mold growth.
• Never use gasoline-powered generators, kerosene or propane heaters, or camp stoves inside unless the manufacturer states they can be safely used inside.

Source: CHMC