Are things slowing down?

Not really. I've been busy behind the scenes working for a couple of people. No deals have been finalized, but things are moving ahead. I hate when I have to do these types of posts because I cannot give much in terms of details, but I like to update the blog because I know a few people follow this during the day when they are bored out of their minds at work.

Hopefully, I will be able to talk a little bit more soon when some stuff becomes finalized.

Seller's market

In Ottawa, there is a seller's market out there. What does that mean? It simply means that there are more buyers out there than there are properties for sale. It means that prices go up, and properties go fast. What does this mean for you? Well, it depends on what side of the equation you are on.

If you are a potential buyer, you need an agent that works hard for you. If not, you could be on the outside looking in when it comes to acquiring property. You need an agent that will be proactive in your search, so that you can find the home that meets your needs. However, being in a seller's market, it doesn't mean that you cannot find a good deal. It just means that it takes a little more rolling up of the sleeves and getting your hands a little dirtier.

As a potential seller, you certainly have an advantage, but it isn't necessarily all that simple. You should ensure that you have an agent that knows how to take full advantage of the market to ensure you get the most for your home. If you are selling your home, you want an agent that knows the market well enough to be able to help you price your house right. Even in my short time as an agent, I've already witnessed a few homes that were not priced appropriately. It certainly wasn't a surprise to see the homes sell before the homes went public.

Now, you may be slightly confused about my last sentence. What does that mean going public? Well, sales representatives, like myself, have access to listings before they are listed on the internet. We have this exclusive access for about 3 days, so that can be enough time to buy a property before it becomes public. As a seller, you might have limited your options if you haven't priced your home appropriately. It may not reach a significant pool of potential buyers. Hence, I stress the importance of using an agent, like myself, to guide you through the process.

Fun fact

Here is a fun fact. I've done $1,228,500 worth of real estate deals in my life so far. Some of it is as an agent and the rest is what I've done personally. Hopefully, this number continues to grow!!! Referrals! Referrals! Referrals!

Home Renovation Tax Credit

Some of you have heard about this credit, and since there is only a limited amount of time to take advantage, I thought I would help remind people, so that they may take advantage.

The biggest question I face on this is what qualifies?

Here is the Canada Revenue Agency's words:

"To be eligible, expenditures incurred in relation to a renovation or alteration to an eligible dwelling (or the land that forms part of the eligible dwelling) must be of an enduring nature and integral to the dwelling, and includes the cost of labour and professional services, building materials, fixtures, rentals, and permits.
Eligible expenditures must be supported by acceptable documentation."

For more information, please visit the CRA website found here.

Last week

Last week was a very busy week for me in terms of real estate. First, as my previous post indicates, I made a deal. There were additional items as part of that deal that held me up (like the home inspection), but I thought I would share some of the other interesting things during my real estate week.

First, I was showing a condo in Vanier, sorry, New Edinburgh. It's a very nice place and very convenient for my buyer. He is looking for a 2 bedroom and unfortunately this place is only a one bedroom. I find it interesting because the building is a very nice building and New Edinburgh is growing. Vanier seems to be slowly disappearing as people are realizing that newer and better units are being constructed in the area. The benefit of this is, of course, that Vanier as we know it is disappearing. It's becoming an area that people can live comfortably and safely, but more importantly, close to downtown without paying downtown prices.

Secondly, I showed an investment property near one of my favourite areas to invest in the city. I would have bought this place myself, but unfortunately, I'm kind of at a standstill when it comes to property acquisitions. 3 houses in the last 3 years is enough at this point. I showed the house to a person that is somewhat interested in making an investment in real estate. Unfortunately, the house was a hot item and we were not prepared to get into a bidding war. When making an investment choice, I didn't want any emotion to get involved, so we respectfully walked away.

Overall, I thought it was an interesting week because I had my hands in deep in three distinct real estate opportunities, houses, condos and investment properties. It was very good for me to work in all three to continue to gain experience in the market. Although I may not be posting here as much as I would like, I am working very hard behind the scenes to help ensure that I am the best possible agent that I can be.

Feathersold!

Congrats to Ryan, Melissa and Ben the dog on their new home in North Gower. They bought a beautiful bungalow and some yard for Ben to run around in. I think they should be very pleased with their purchase. I told you I was busy :P

Ok. I'm sorry this took awhile. I've been busy with some real estate stuff, and I'll discuss some of that stuff in a later post. This was the post that I wanted to get online. I've been in my house for one year, and there have been a number of changes. Some changes have been cosmetic, and others have been more structural.

One of the biggest changes that occurred in the past year was the fact that I got a new roof on the house. It was definitely the biggest expense that I incurred, but I know that I shouldn't have any problems now for the next 20 years or so. It was definitely a step in the right direction.

Now, I decided to take some comparative pictures from when I purchased the house to tonight. Now, the house wasn't the cleanest when I took these pictures, so I guess you can say they are pretty good comparables to when I purchased the home. The pictures below show how some of the painting and new furniture have changed the look of my house a little bit. I hope that you can see some improvement in the past year. Hopefully, year 2 will see some more improvement.

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