Financing Options: Shop around for the best mortgage for your situation. Most of us think “bank” when we start to think about mortgages. But there are many other options and lenders and they all have various terms and repayment options. You need to consider such options such as bi-monthly, or even weekly payments, floating interest rates instead of a locked in rate – it all depends on what is right for your situation, so shop around.
Archive for February, 2012
Mistakes Buyers Make – 4th Example
You don’t think you can afford to buy a home? Think again! What are you currently paying for rent? Wouldn’t you rather that money went into your own investment instead of somebody else’s?
Consider every possible source of cash. Do you have insurance policies or retirement savings that can be used to buy a home? Some Financial institutions are offering cash back options, that can assist you with your first purchase. May sure you are dealing with an institution that is representing your best interest! There are many options for mortgages these days.
Kris
Mistakes Buyers Make – 3rd Example
Be aware of ALL the costs: As a guideline, you should budget 2% of the cost of the home for your closing costs. Fees such as appraisal fees, land transfer taxes, legal fees, federal and provincial taxes all start to add up on your home
purchase. You will no doubt also want to think about window coverings and any updates you think are necessary.
There are some incentives from various government agencies for first time buyers and for other buyers too. Your real estate agent should be able to assist you with knowing the total costs.
Kris
Ottawa Market Update for January, 2012
The Ottawa Resale Housing Market had a fairly typical January although inventory of homes for sale is higher than a year ago, offering more choice for buyers.
Members of the Ottawa Real Estate Board sold 684 residential properties in January through the Board’s Multiple Listing Service® system compared with 677 in January, 2011, an increase of 1%. The five-year average for January sales is 652. Of those sales, 138 were condominiums while 546 were in the residential property class.
The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $349,415, an increase of 5.6 per cent over January 2011. The average sale price for a condominium-class property was $253,210, an increase of 6.8 per cent over January 2011. The average sale price of a residential-class property was $373,731, an increase of 5.5 per cent over January 2011. Since each area shows slightly different trends, if you would like to see what is happening in your neighbourhood, contact me and I can send you the recent sales, average prices and any other additional information that you may wish to have.
If you have any questions about the market or know anyone else who would like to receive my Real Estate Market Update, please call or e-mail me.
By the way, referrals play a huge role in the success of my business so please think of me and do mention my name if you hear of any family, friends, neighbours or colleagues who are considering a move. I’d be delighted to have the opportunity to provide them with my real estate services.
Kris
Ottawa Market Update
Insert January statistics here
About Kris Sherry
A resident of Ottawa since 1975, Kris has intimate knowledge of the city she has always loved and called home. Pleased to be able to share her knowledge of neighborhoods, history, restaurants, shops and points of interest, she understands the extreme importance, responsibility and integrity of helping to find the right home for the right person.