Did you know… Banks can only finance the Appraised Value or the Offer Value, whichever is lesser of the two? The appraisal method of determining value for residential real estate is the Comparison Approach, and appraisers use the same database of information as REALTORS to determine property values. Appraisers determine value based on what Buyers are willing to pay for a property ...
Posted by Szabolcs Pall
on February 7, 2012
Smooth sailing for home sales in September Members of the Ottawa Real Estate Board sold 1,202 residential properties in September through the Board's Multiple Listing Service® system compared with 1,071 in September 2010, an increase of 12.2 per cent. The five-year average for September sales is 1,160. Of those sales, 280 were in the condominium property class, while 922 were in the residential ...
Posted by Szabolcs Pall
on October 5, 2011
Why buying from the Listing Agent is not a good idea
If you are a Buyer, is it better to buy from the Listing Agent (L/A), rather than using your own realtor? Sure the thought has crossed our minds, the agent will be happy to double-end at a reduced fee, the seller will net the same amount, sounds great, doesn't it? Except when you break down the transaction, you quickly realize that ...
Posted by Szabolcs Pall
on July 6, 2011
April sales return to pre-HST levels
Members of the Ottawa Real Estate Board sold 1,536 residential properties in April through the Board's Multiple Listing Service® system compared with 1,814 in April 2010, a decrease of 15.3 per cent. The five-year average for home sales in April is 1,612. Of those sales, 316 were in the condominium property class, while 1,220 were in the residential ...
Posted by Szabolcs Pall
on May 5, 2011
Did you know … as of March 18th 2011, you will no longer be able to take out a mortgage with an amortization period of more than 30 years. The change was implemented as a preventive measure to ensure people aren't over extending themselves. Some banks are taking advantage of this to offer incentives for would be home purchasers before the deadline, so take advantage now!
ready2move.ca ...
Posted by Szabolcs Pall
on March 17, 2011
What's the best part about my job? The freedom, the people, the homes, they all add to the enjoyment of being a REALTOR in Ottawa. But even more than that is the feeling that I'm making a difference. Cue the orchestra. :-) Sure they might have got great service from someone else, I believe there are a lot of really good agents out there, and I’m certainly not saying I'm the only one. But being ...
Posted by Szabolcs Pall
on March 17, 2011
Did you know … there are great incentives to help you get started in Real Estate? You may use up to $25,000 of your RRSP towards your down payment, and may qualify for an immediate rebate up to $2,000 on your Land Transfer Tax. The Government will kick in a $750 tax credit, not to mention the specials offered by key partners as part of our VIP program.
Posted by Szabolcs Pall
on March 17, 2011
My brother recently asked about what I thought was the best smart phone on the market. Sure there are tons of web-sites dedicated to this stuff, and he has probably read them all, but like most anything you purchase, it’s often best to ask someone who’s had some firsthand experience with the bloody things.
And it’s with that in mind that we decided to host a live session ...
Posted by Szabolcs Pall
on March 17, 2011
Are you thinking of buying or selling a home this year?
What’s the process, and when should you get started? It starts with contacting a REALTOR® to learn about your local market, but the timing can vary depending on when you want to move. If you have a house to sell, I advise clients to consider approximately 90 days to properly market the property, and then add 60 days to ...
Posted by Szabolcs Pall
on January 8, 2011
How’s the housing market? It couldn’t be any better if you ask me, and let me explain why:
While the Residential Unit sales on the Ottawa Real Estate Board are down, our Condominium Unit numbers are up from last year at this time. And let me remind you, that we had a record breaking year in 2009 which makes the numbers even more impressive. Residential prices have increased approximately ...
Posted by Szabolcs Pall
on December 29, 2010