Reading recent reports in the media and you would believe that all is doom and gloom in Real Estate in Ottawa. The market is/has changed from the booming times of 2007/early 2008 or even the early 2000's, but it is far from doom and gloom. There are still buyers buying and sellers selling. The important thing to remember if you are doing either is your response to the market must be different. Knowledge is a powerful tool and a good realtor will help you navigate today's changing market to your advantage.
When you read the doom and gloom media take a minute to really read it. If they are talking national or international markets does that really reflect what is happening in Ottawa today. Average house prices can be very deceiving, remember the average Canadian is 52% female, 48% male. What happens is major markets like Toronto and Vancouver both positively/negatively affect the national statistics but have absolutely no impact on the Ottawa Market. I have read a lot about house sales being down and prices dropping but have yet to see the house prices in Ottawa dropping, in fact in most neighbourhoods/price brackets prices are still rising. Sales have slowed and this is impacting how and when a house sells and how buyers are approaching the market.
A good realtor can help you make a wise investment in today's market. They have access to the most up-to-date statistics and can break the market down to the most local of levels for you. So if you are selling a townhouse in Barrhaven or buying and Estate property in rural Kanata they can explain the pricing, advise you on what value is and help you make GOOD REAL ESTATE DECISIONS.
Don't believe everything you read - Real Estate is still one of the best investments you can make, interest rates are extremely low so your buying power is excellent and Ottawa is a fantastic place to live. If you need help with your personal real estate decisions feel free to contact us.