Westboro Condo Living

Westboro Condo living is all about the condo lifestyle. Just lock the doors and go. Everyday can be an adventure free from the stress of driving across the city through construction and rush hour. The concept of living where you work and vice verse spells out why condos have become so popular with people of all ages. So whether you are downsizing or it is the first home for you condo lifestyle in the right area can have a lot to offer.
I am not sure there is a better area in Ottawa to live and work than Westboro, which is what Westboro Condo living is all about. Sure you have to work from 9-5, but the real joy is when you leave work and go for drink on the patio at Trio Wine Bar or when you step out in the middle of the afternoon to grab a cappuccino from Starbucks or Bridgehead. On the weekend maybe you walk over to Fratelli restaurant to share a bottle of wine and an antipasto plate with a few friends. If your lucky enough to have a dog why not spoil them like we all do with treats from Bark & Fitz. Your dog will also love to go for long walks on the Ottawa River bike way. This is just a taste of the options for Westboro condo owners.
When comes to establishing value in the Westboro neighbourhood there is a huge range of possibilities. Condos start in the low $200,000 and go up over $1 million with a variety of choices for location. Developers see this area to be perfect to build condos for all that it has to offer. As we speak there are some really exciting opportunities for both investment and lifestyle. One of those developments slated to be ready in late 2010 or early 2011 is 101 Richmond a condominium building by Ashcroft. It will have amenities like a pet spa, movie theatre, yoga studio and roof top patio with BBQ.
If you are interested in any other new opportunities that will come and go every day just ask me as Westboro condo living will just get better as the neighbourhood continues to grow.

Byward Market Condos

Byward Market condos are what condo life is all about. Living near where you work and where you play. No driving necessary, just a sense of adventure and an active social life and you can jump from work, to play, to home in just a few steps. If we had warmer winters we could enjoy patios at restaurants and balconies in condos year round.

Byward market condos come in all price ranges, sizes and finishings. At present they are in high demand and probably will be for some time, but as developers try to keep up with the demand by designing and building new condominium projects the demand should slowly meet the supply.

In the present real estate market they are selling extremely fast somewhere from a few days to a few weeks, but not much longer than that. The price range from $250,000 up to over a million. If you have the time new construction is always an option, but it takes a very flexible present living situation as new builds can sometimes by delayed. This is the best way to get maximum value for your dollar and usually allows you to be able to decide the interior finishes so you can customize your condo to your taste.

Living in what most consider the social epicentre of Ottawa creates a lot of options for both food and entertainment. There is also no lack of commercial space for shopping with the Rideau Centre just moments away. Getting around the city without a car is never a problem as major transit lines run in and out of the Rideau Centre every couple minutes. Not that you need to take a bus anywhere when you live in the centre of Ottawa's universe the way the Byward Market is.

It sure is nice to have options and this definitely what this area gives you.

Green Homes in Ottawa

"Green" Homes in Ottawa

"Green" homes in Ottawa as across Canada have become immensely popular and important to people. "A majority of Canadians (68 per cent) rate their home as “somewhat green.” A further 13 per cent believe their homes are “very green.” But an even stronger majority (83 per cent) acknowledge they have room to improve — and are keen to make their homes even greener than they are today." quoted from Metro News.

With this new found go "green" attitude home buyers are now willing to pay more for homes as long as they are "green." This spring as the federal government saw this trend arising they adapted a rating system called LEED or Leadership in Energy and Environmental Design for use in residential homes and up to three story low rise apartment buildings. The LEED rating system had been used for larger real estate such as high rise buildings since 2005. LEED or "green" homes are designed to use less water, less energy and natural resources. They also create less waste and a healthier environment for their occupants. Owners of "green" homes or LEED homes should expect to see lower energy and water bills, less greenhouse gas emissions and less exposure to unhealthy air in homes caused by mold, mildew, etc.
I would think that given the rising energy costs we will see a lot more of these types of buildings and human ingenuity.

Open House Britannia

Open House in the Britannia Area this Sunday from 2-4, September 13,2009. The open house is at 40 Kempster Ave. If you enjoy being close to the river, bike trails and more park space than you can think of activities to do than this property would be perfect for you. It is newly renovated from top to bottom. If you have any questions regarding the open house or any other real estate concerns don't hesitate to contact me. 613-788-7412 or rangus@kwottawa.ca.

Soho Parkway Grand Opening!

"Limited Edition collection of luxury condominiums inspired by an award winning boutique hotel Soho Parkway is here."

Grand opening launch of what is sure to be an amazing Condominium development. With so many amenities who knows where to start. If you want to live like a rockstar in a hotel this is the site for you. Design by Brian Gluckstein, gym by Dalton Brown, Skyclub with sundeck, outdoor kitchen and hot tub, executive boardroom, private theatre, concierge.

What more do you need this is going to be hard to beat let alone match by any other Condominium in the city. Believe it or not prices are very reasonable even low priced for all it has to offer.

This will move fast so come to the grand opening Wednesday July 22, 2009!

Multifamily properties: Two schools of thought

Multifamily properties are sometimes one those prestigious things bought for status and sometimes they are just a safe investment like a GIC. The debate is Rockstar or steady job which will have you further ahead in the long run. Because we all know when it comes to investments you have to think long term. There is no get rich quick scheme!

The first school of thought on this one is buy multifamilies in areas that are established and strong. That way you know at the very least you have a stable mortar and concrete asset that you can sell for probably atleast what you paid for it. The problem with that is by buying in those areas you have such a high purchase price that after all the costs are paid each month you havn't created much, if any positive cashflow. The good news is that having a property in these areas even the worst property manager could have it rented all the time for the highest dollar possible. Like all properties in Ottawa they on average appreciate by about 6% so you have that going for you, I mean try doing that with a GIC.

The second school of thought is to forget where the property is located and buy for the numbers. In fact buy in the cheapest area of town possible keeping one thing in mind that certain areas will appreciate by more than 6% and they all start as run down areas. If you can buy your property in one of those areas not only will you have great numbers month to month creating positive cashflow for you, but your property will rise in value sometimes as much as 20% if the area really takes off. The down side of buying this way is that sometimes these units can be harder to rent as not everyone wants to live in this type of neighbourhood. But it sure makes good numbers sense as you have less debt and lower property taxes.

Well, you do the math and weigh the pros and cons.. Either way, one thing you have to ask yourself before you go down this road is "am interested in being a landlord." If yes, well than no problem. If no, well it just means you have to hire someone to do that for you and this adds to your already long list of costs, especially if you buy in that trendy area.

Record month for housing sales in Ottawa

Ottawa’s housing sales continue to buck the national trend, posting a third consecutive record setting month for sales.
Ottawa Real Estate Board members sold 1,895 properties last month, an increase of 12.5% over June 2008, when 1,685 units were sold.
Three straight months of record sales, and four months to date in which 2009 sales have bested the previous year’s totals, have helped right the ship after a sluggish start to the year.
“We have seen a strong recovery from the slow start to this year,” said OREB president Rick Snell.
At the end of June, year-to-date sales are up 1% over the first six months of 2008.
The average sale price of residential properties sold in Ottawa last month was $306,924, an increase of 3% over June 2008.
Calling it a “seller’s market,” Snell predicted sales would remain “brisk” in the coming months.
“There is a very low supply of homes right now,” said Snell.
With the low interest rates and new first-time buyer incentives, Snell said many sellers are fielding multiple offers.
“Ottawa’s economy is a very stable economy, and that leads to a very strong housing market,” said Snell.
And while other Canadian cities are also beginning to notice a gradual recovery from the slow start to 2009, Snell believes Ottawa’s housing market will continue to strengthen.
“The average cost of housing is much lower in Ottawa compared to Toronto, Vancouver and Calgary, while there’s still relatively high family income, so that makes the city a very attractive and affordable option,” said Snell.

By AEDAN HELMER, Sun Media

10 Steps to buying a home.

The Rules of Real Estate
1. Visit a mortgage specialist and get preapproved. Figure out how much you feel comfortable spending a month on your home. This is ultimately the cost of owning a home.
2. Contact a realtor and do a needs and wants analysis (tell them what you’re looking for, help them find that needle in hay stack.) sign a buyer agency agreement to set the terms of how they will be representing you. It’s nice to have someone in your corner to represent you in your real estate transaction and to guide you along the way.
3. Get set up on an automatic email notification system.
4. Find some areas and properties you like and get your realtor to setup some showings. Try and see at least 3 at a time but not more than 6.
5. Learn the market value of what you want compared to the value of what’s out there. Learn to compromise. Believe me everybody does to some extent.
6. Find the property of your dreams and get your realtor to make an offer. He will ensure that your interests are protected.
7. Do a home inspection; always pay to have a home inspection done.
8. Buy a home and arrange to move
9. Meet your lawyer and go over closing(attorney fees, escrow fees, government transfer taxes and charges, title & insurance fees, adjustments) documents and get your keys!!
10. Move in and have a house warming party!!!

Low Condo Inventory

After record breaking Ottawa area residential home sales in April and may the local inventory of homes for sale looks a lot like the shelves at LCBO's across Ontario two days ago. The sometimes forgotten or hidden gem in the housing industry are new homes which in some places still have a strong home inventory. If you know where to look or who to ask there are a lot of really good deals available for first time home buyers, real estate investors or people just looking for a change.

The most interesting for me right now is the Rivercourt lofts a Domicile homes project on the banks of the Rideau river. They are now very eager to sell the remaining units as construction completion is scheduled for this December. If you are looking for a rental this building is perfect for positive cash flow in a rental and with closing only six months away you can lock into very favourable mortgage rates making buying now not just a smart investment but something you don't want to miss out on. Ask me about the breakdown for the this positive cash flow project and I'll be glad to tell you about this one and a few others I have been looking at.

5 things you should know about Ottawa Condos

5 things you should know about Ottawa Condos

The Opus by Ashcroft is probably the most high end beautifully finished condo in the city. It has been standing since February of 2007. It is located in the heart of the city within walking distance to everything there are still a few Condos left in the building. Call the Ashcroft sales centre for details 613-236-3777.
Probably the most impressive structure that people live in, in Ottawa is the Mondrian by Urban Capital. Just like the Central and East Market this is a Brad J. Lamb project, you know Big City Broker the TV show. It is a 23 storey building with 245 modern condos atop of a 5 storey parking garage with retail on the ground level and a pristine pool area on the 6th floor. Last I checked there were still 5 condos left with some really gorgeous terrace units on the 6th level.
Last week a very special and fantastic investment opportunity launched to the public. It is called 2nd Avenue west by Domicile. It is in the Glebe on Bronson at 2nd avenue. Imagine having a rental property that you could always rent for top dollar. Well, 2nd avenue west is that place, but don’t wait too long because they are selling fast, 24 sold on the first night alone.
If you were every considering a rental property how would like one that is in a great up and coming neighbourhood offering two years with no condo fees. The condo development is called 101 Richmond it is located on Richmond rd at Island Park in Westboro. The promotion is for a limited time so act now before the opportunity passes you by.
If you are interested in a quality condo in a great location you should take a look at the continental by Charlesfort. They have made other quality developments like the Hudson, which is a classy downtown building with rooftop terrace and is a designed to be “green” building meaning it is better for the environment as it is more energy efficient.

2ND AVENUE WEST

If you ever wanted a condo in the Glebe the wait is over. No more driving to shopping, work or play. Just walk to the corner and it's all there. Comfort and lifestyle of owning a newly built property in an old established area. Here it is 2ND AVENUE WEST @ bronson by Domicile.

Great Neighbours Make Great Views

Great Neighbours make great views?

Location, location, location right? What is it about where you live that is so important? Well, it’s a few things. Proximity to amenities, distance to work, distance to play. Whether its dinner and dining, jazz and mint Juleps or afternoons walking under fossilized dinosaur bones…
Right next door to The Opus by Ashcroft one of the most high end condominium buildings in Ottawa a ten million dollar tower is being built atop a national historic building that is considered the third most important heritage building in Canada, right behind the library of parliament and the centre block. The tower that is being built has been coined the “Lantern” as it be made almost entirely from glass with the ability to be lit from within. It will symbolize what the original builder wanted the building to look like with a large tower at the front of the building anchored by turrets on either side. The lantern is said to be one of a kind in Canada for construction, style and design and is said to rival such pieces as the glass dome on the Reichstag in Germany and the glass pyramid of the Louvre in Paris. We won’t be able to see it in its full glory for a while as the grand opening is not schedules until May of 2010, but we will be able to see it from as far away as Parliament Hill and from as close as right next door at 320 McLeod. The view from the North and east side of the Opus by Ashcroft will be able to see the Lantern perfectly, what site it will be at night sitting on your balcony.