Home Buyer’s Undeterred by January Cold

Members of the Ottawa Real Estate Board sold 627 residential properties in January through the Board’s Multiple Listing Service® system, compared with 587 in January 2014, an increase of 6.8 per cent. The five-year average for January sales is 633.

“The cold weather proved not to be a deterrent for buyers in January,” says President of the Ottawa Real Estate Board, David Oikle. “Residential and Condo sales combined, contributed to an increase in sales this month, and we are right on par with the January average. Residential two-storey and bungalow properties had the highest concentration of buyers. In addition to residential and condominium sales, OREB members assisted clients with renting 183 units this month.”

January’s sales included 114 in the condominium property class, and 513 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“This month has been a busy month for our Members,” says Oikle. “The number of residential and condo properties listed in January (2,018) more than doubled the amount of newly listed properties from December – a normal occurrence at the beginning of the year, in advance of the usual busy spring market.”

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $348,617, an increase of 0.5 per cent over January 2014. The average sale price for a condominium-class property was $250,406, a decrease of 5.8 per cent over January 2014. The average sale price of a residential-class property was $370,442, an increase of 0.5 per cent over January 2014. While average sale price information can be useful in establishing trends over time, it should not be used as an indicator that specific properties have increased or decreased in value, because the average sale price is calculated based on the total dollar volume of all properties sold.

“The possibility of interest rates approaching record lows will provide even more opportunity for homebuyer’s,” explains Oikle. “The Ottawa resale market remains steady, and we look forward to a productive year ahead.”

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5 Tips to Negotiate and Leave Everyone at the table Happy

I think I am a decent negotiator. I negotiate with my clients, my contractors, my vendors. And I do a fair amount of negotiation with my family, as well. The challenge with negotiating is that I never really know if I did a good job. I may get what I think I want, and I try and do it without taking advantage of the other person. But, somehow, I often feel like I left something on the table that I shouldn’t have. Or worse, I may have taken more than my fair share.

Negotiation is hard. You start from an adversarial position and need to find a way for everyone to feel positive in the end. There are some best practices, so I tapped Molly Fletcher who spent nearly two decades representing top sports figures, including Major League Baseball All-Stars, professional golfers, championship NBA and NCAA coaches and media personalities. CNN nicknamed her “The Female Jerry Maguire”.

As the only female agent to close more than $500 million in deals, she knows a thing or two about hard negotiations. Fletcher is sharing her knowledge in her new book, A Winner’s Guide to Negotiating: How Conversation Gets Deals Done (McGraw-Hill 2014). She was kind enough to provide her 5 best negotiating tips that will help anyone get to a win.

1. Treat this as a conversation, not an argument.

Heated discussions are part of life. They are also a necessary part of the collaboration process. For a negotiation to be fruitful, a conversation must take place between two people where egos are checked at the door and the ultimate goal is to remember the purpose for which you’re discussing. Fletcher advises to be clear and direct. Remember, you’ll never get what you don’t ask for. But, you should understand and ask for what you truly want, not for what you think you will get. If you don’t know what you want, how will you know when you get it?

2. Asking is hard, so power through it.

Fletcher talks about the “ask”, which is the point in negotiating that makes people feel most uncomfortable and fearful. Asking is a seed. It either takes root or withers, and the outcome depends on many factors beyond your control–which is understandably frightening. So much so that many people are afraid to ask at all. Fletcher suggests drilling down the fear messages you have in your head and firming up the self-talk. Fletcher learned that self-talk and visualization are the core habits of high achievers and successful athletes. They have highly-tuned defense mechanisms that shut out the negative voices. Here are some suggested mantras you can adapt in your own words:

  • The other side likes me and what I have offered.
  • The other side knows I will help them.
  • The other side has shown that they believe I am trustworthy.

3. Embrace the pauses.

Silence makes people uncomfortable. It’s especially dreaded when in a conversation with an adversary or a relative stranger. But, accepting the breaks in a conversation, according to Fletcher, is necessary for a successful negotiation. Talking to fill the space in a negotiation is not the way to build solid, long term relationships. No one really wants to do business with a chatterbox. Filling the silence in a negotiation can also signal that you are lacking confidence or that you are extremely nervous.

4. It’s okay to pack up and walk away.

Walking into a negotiation can be scary, but Fletcher points out that sometimes it’s even scarier to walk away. You may feel failure or relief or other deep emotions. Negotiations require difficult, immersive work that drains the mind, heart and spirit. And sometimes you just need to know when to stop. If there is a deal to be done, all parties will come back to the table when ready.

5. Find common ground.

A big challenge in negotiations is confronting the gap between where the parties are are and where they want to be. Perhaps the expectations on both sides are unreasonable. Fletcher says that simple fear of failure can stall or stop the process even from the start. Get things moving by finding simple common ground between you and the other side. Long-term success hinges on the other side feeling that you are partners in the deal and that a mutual solution is possible. Begin where you can agree. Then you can tackle the hard stuff together.

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‘Move up’ Market Taking hit as Prices of Bigger Homes Swell

Having trouble moving into a bigger home? You’re not alone.

Prices of bigger and more expensive homes in Canada are rising significantly faster than those of cheaper properties, Canadian Imperial Bank of Commerce economist Benjamin Tal has found. The phenomenon is limiting peoples’ ability to trade up, and causing many to choose to renovate their existing home instead.

The trend is pronounced in cities including Toronto, Ottawa, Calgary and Edmonton. Spending on home renovations as a percentage of total residential investment is at its highest level on record.
And the “move up” market is becoming paralyzed at the same time that tighter mortgage rules and higher home prices have knocked many potential first-time buyers out of the market, Tal says. “The homeownership rate among Canadians aged 25-35 (first-time homebuyers) has fallen from 55 percent in 2012 to the current 50 percent,” he says in a report to be released Monday. The rate has remained stable for people over age 35.

These factors will influence prices. Because many people will be staying put in low-to-mid-range-priced houses and condos, the supply of available units will be lower than it otherwise would be, which Tal says will work to limit downward pressure on prices.

Higher-priced houses and condos are more vulnerable to price adjustments, he says.
And he reiterated his view that restrictions in supply coupled with affordability pressures means that Canada’s homeownership rate, at close to 70 percent, has probably peaked for the time being.

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SECOND HIGHEST JULY SALES ON RECORD

Members of the Ottawa Real Estate Board sold 1,445 residential properties in July through the Board’s Multiple Listing Service® system, compared with 1,336 in July 2013, an increase of 8.2 per cent. The five-year average for July is 1,317.

“Sales from this past month are the second best on record for July, only comparable to the 1,578 sales in July 2009,” indicated Randy Oickle, President of the Ottawa Real Estate Board. “Also, strong sales in the past few months have brought year-to-date sales right on par with 2013. This year is shaping up to be another strong and stable year for the Ottawa market, despite the lackluster sales in the first few months of 2014.”

July’s sales included 262 in the condominium property class, and 1,183 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

The average sale price of residential properties, including condominiums, sold in July in the Ottawa area was $356,735, a decrease of 0.8 per cent over July 2013. The average sale price for a condominium-class property was $261,663, a decrease of 5.3 per cent over July 2013. The average sale price of a residential-class property was $377,791, a decrease of 0.8 per cent over July 2013. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

“The average sale price is down slightly since last year, partially because there were six fewer properties sold in the over $1 million range this July compared to July 2013,” says Oickle. “The price range of $300,000 to $349,999 had the highest concentration of properties sold, followed by $350,000 to $399,999 range, then the $400,000 to $449,999 range. These numbers are indicative of first-time homebuyers still coming into the market, taking advantage of the continuing low interest rates.

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Open House 611-1081 Ambleside Drive Ottawa ON

OPEN HOUSE at 1081 Ambleside Drive Unit #611 this Thursday evening from 6:00 pm to 8:00 pm.

http://www.myvisuallistings.com/fsvt/137452

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Hire a Good Negotiator

http://blog.coldwellbanker.com/6-strategies-winning-real-estate-negotiations/

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Welcome to Bishop’s Mills. A historic quaint village in the municipality of North Grenville. Excellent opportunity for first time buyers to own instead of rent with historic low interest rates. 2 bedroom, 1 bath 1.5 storey home on a paved road with large lot and NO rear neighbours. 15 minutes to Kemptville for shopping and recreation. UPGRADES: PROPANE FORCED AIR HEATING (2013), ELECTRICAL AND PLUMBING. Newer woodstove to cozy up to.

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