Wednesday, February 24, 2016

Interesting Ottawa Market Stats

Analyzing the Ottawa homes market 
- the average Ottawa home price is $380,000 and the average Ottawa condominium sale is$226,000
 
Affluent is considered anything over $600,000
14% of the homes sold in Ottawa were priced between $500,000 to $749,000
 
Resale market from 2011 to January 2016.
- $500,000 to $749,000 - increase of sales of 26%.
$750,000 to 1 Million -increase of sales of 49%.
- $1 million and over - increase of sales of 55%.
 

Top 23 Cities to live in the World ... 4 are Canadian cities

Looking at 450 cities across the world, Mercer takes into account the following metrics to judge which cities made the list for the best quality of life:
  • Political and social environment (political stability, crime, law enforcement)
  • Economic environment (currency-exchange regulations, banking services)
  • Socio-cultural environment (media availability and censorship, limitations on personal freedom)
  • Medical and health considerations (medical supplies and services, infectious diseases, sewage, waste disposal, air pollution)
  • Schools and education (standards and availability of international schools)
  • Public services and transportation (electricity, water, public transportation, traffic congestion)
  • Recreation (restaurants, theatres, cinemas, sports and leisure)
  • Consumer goods (availability of food/daily consumption items, cars)
  • Housing (rental housing, household appliances, furniture, maintenance services)
  • Natural environment (climate, record of natural disasters)
Mercer made a list of 230 countries and Business Insider took a look at the top 23 in the world. And no, New York and London did not make the cut.

Click here to see the top 23

Tuesday, February 23, 2016

$85 a barrel oil by end of 2016?

"Most budgets for the OPEC countries can't be maintained at this level," he continued. "Even the Saudi budget is built on almost $100 price for breakeven, which is why they've been dipping into their reserves." So when will the reversal begin?
Rothman told CNBC's "Worldwide Exchange" that $85 per barrel crude is just a few months away. "We'll actually start to see it when we get past the winter. We'll see inventories being drawn down, which most people you're going to talk to aren't expecting," Rothman added.
"That's really the bottom line of where supply and demand meet," he said. "I expect that the sentiment is [then] going to shift."

Please click here for the full article.

Sens fan? What to own Captain Alfie's old house....

After six years in the Senators organization before being traded to Buffalo last summer, Robin Lehner naturally knows where to turn when he wants to spread the word.
“Put an article in for me,” he told Cheapseats. “I’d like that. Alfie’s and Lehner’s house, up for sale. Newly renovated. (The address is) 1404 Sherruby Way in Kanata.”
Lehner is asking “around a million” for his and Daniel Alfredsson's former Ottawa house,

To read the whole article, please click here 

Tuesday, February 16, 2016

Guest profile of ... me!!!

I was part of a feature in a blog on mistakes and starting over ...

To jump start your real estate investment journey on the ideal trajectory, I reached out to a mastermind of real estate pros to reveal their most powerful advice.  I got answers from 17 real estate investment professionals including bestselling authors, entrepreneurs, real estate coaches, and top personal finance bloggers. These people have jointly impacted millions of people through their articles, books, blogs, presentations, courses, coaching, workshops and more.
Everyone of them rolled up their sleeves years ago and invested in real estate to build their wealth.   Robert Kiyosaki said it best, “If you want to go somewhere, it is best to find someone who has already been there.” So I personally asked 17 real estate pros one simple question:

“If you could travel back in time, what advice would you give yourself when you were a newbie real estate investor?”

Their advice is as diverse as they are; yet, all of it comes from a proven path to real estate investing success. Put this wisdom to work and watch your investment journey soar in 2016.

please click here to read the complete article


Thursday, February 11, 2016

The stage is now set for a basic income for all


  • A basic income can take different forms but it is generally understood to ensure everyone an income that is sufficient to meet their basic needs, regardless of work status. This kind of income support enables seniors in Canada to live better lives and keep contributing to society and the economy. It has also improved the lives of working-age families with children for many years. It is now time to cover those left out — the working-age adults who are also family, friends and neighbours in the communities where our children and grandchildren are growing up.


For the complete article, please click here

Wednesday, February 10, 2016

Marnie Bennett will team with Brian Tracy to release the new book, “Ignite Your Life”

Ottawa, Canada – February 10, 2016 – Marnie Bennett has joined Brian Tracy and a select group of experts and professionals to co-write the forthcoming book titled, Ignite Your Life: The World’s Leading Entrepreneurs and Professionals Reveal Their Secrets to Ignite Your Health Wealth and Success.
....
Ignite Your Life is a compilation of authors who have the key to success and wealth. The authors are top experts in a variety of fields with the core similarity: to help you to find the spark to ignite your life and achieve aspirations. Ignite Your Life is tentatively scheduled for release in early 2016.

Please click here to read the article

10 Canadian Islands You Can Buy That Cost Less Than A House In Toronto

The real estate situation in Toronto is pretty ridiculous. The prices of properties continue to increase at a seemingly monstrous rate and there aren’t any signs of it slowing down anytime soon. As of September 2015, the average price of a detached house in downtown Toronto was $1.017 million… That’s a hefty 12.9% increase from the year before!
Many Torontonians are resorting to more affordable alternatives such as condos, townhouses or semi-detached homes, but even those are still rather pricey. On average, they come up to around $407K, $524K and $663K, respectively. What’s an aspiring Toronto home buyer to do?
Well, did you know that there are some private islands for sale in Canada – for partial or complete ownership – that would cost much less than all of the above options? You may want to put your house ambitions aside for a second and consider these 10 Canadian islands

Monday, February 8, 2016

Fee Schedule Effective August 1, 2015

By-law 2014-229

CategoryInside the GreenbeltOutside the GreenbeltRural Rural - Unserviced
Single-Detached and Semi-Detached Dwelling, $ per Unit$22,468$30,752$20,159$17,703
Apartment Dwelling, (2+Bedrooms), $ per Unit$13,226$16,321$11,568$10,157
Apartment Dwelling (less than 2 Bedrooms), $ per Unit$9,740$12,018$8,520$7,482
Townhouse, Multiple, Row and Mobile Dwelling $ per Unit$17,591$23,132$13,119$11,524
Non-Industrial Charge Use $ per square foot$19.82$19.82$19.82$17.74
 Industrial Charge Use $ per square foot$8.55$8.55$8.55$7.57

To get the complete picture of the costs for Ottawa real estate development, please click here 

Ontario to offer $100 million for homeowners to upgrade furnaces, water heaters

TORONTO – Ontario announced a $100-million program Thursday to help homeowners upgrade their furnaces, water heaters and insulation, but did not provide a start date, eligibility rules or rebate amounts.
The goal is to reduce greenhouse gas emissions, and at the same time help create jobs and lower residential natural gas bills, said Environment and Climate Change Minister Glen Murray.
“This investment will help homeowners upgrade their homes and save money, while keeping Ontario on the path toward a low carbon future,” Murray said.
...
There are over four million homes in Ontario, and offering financial incentives to only 37,000 seems like a very small plan, added Tabuns.
“So who wins this lottery,” he asked. “Why is it people who have electric baseboard heaters wouldn’t qualify? Their electricity is partially made with natural gas.”

Sunday, February 7, 2016

Fifth-Clegg pedestrian bridge could be built straighter — and sooner than 2020

Federal and provincial representatives are joining a push by Ottawa's mayor and a local councillor to have a much-needed pedestrian bridge over the Rideau Canal built ahead of schedule — and possibly in time for Canada's 150th birthday.
The city's transportation master plan calls for funding a pedestrian bridge connecting Fifth Avenue in the Glebe and Clegg Street in Old Ottawa East between 2020 and 2025.
One of two new images unveiled this week of a proposed footbridge that would span the Rideau Canal and connect Fifth Avenue with Clegg Street.

Long history of canal crossings

In recent history, the idea of a bridge connecting Fifth Avenue and Clegg Street has been on the city's radar since at least 2008, when it was mentioned in a city-wide cycling plan.
However, the desire for a bridge in that location goes back more than a century.
In 1915, a federal plan for the layout of Canada's capital called for a permanent bridge over the canal at Fifth Street.
It was never built, but for some time afterwards, Ottawans could cross from Old Ottawa East to the Glebe — and back again — by taking a ferry over the canal near that location.
Then, in the 1950s and 1960s, the National Capital Commission began building a wooden bridge each winter over the canal a few blocks north of the new bridge's proposed location.

Saturday, February 6, 2016

The city’s draft proposals for coach houses include:


• How big can they be? A coach house can’t more than 40 per cent of the footprint of the house, up to 1,022 square feet. They also can’t cover more than 40 per cent of the lot;
* How small can they be? The city wouldn’t regulate the minimum size, but the Ontario Building Code — the dictates of which they must meet — means a “bachelor” tiny home is about 145 square feet, plus a bathroom.
• Don’t bother the neigbhours: Coach houses shouldn’t affect the privacy, shadowing or overlook of neighbouring houses;
• No country for coach houses: Coach houses won’t be allowed in rural areas where homes are on private wells and septic systems.
• 411 on the 911: They also won’t be allowed on townhouse lots because of the difficulty of access with emergency vehicles.

Friday, February 5, 2016

The case for Americans investing in Ottawa, Ontario, Canada...

A very interesting article was dropped on my desk this week .... http://www.cbc.ca/beta/news/business/snowbirds-loonie-real-estate-1.3425322 -  

This is the reverse of the current cycle we see starting now to develop.  Oil being $30/barrel (or less), has driven the Canadian dollar down and as a result made Canadian real estate super affordable.  You can buy a home in Canada at a 30% plus discount, just based upon currency devaluation.  Economists are in agreement, once the price of a barrel of oil raises, the Canadian dollar shall follow.

I am currently working on some to be built condo buildings, which will be available under current market prices and professionally managed.  These wholesaled properties are to be built in desirable neighbourhoods.  Currently, the rental market is very strong in Ottawa, boasting a vacancy rate of 3.4% and dropping (http://www.obj.ca/Real-Estate/Residential/2015-10-26/article-4321974/CMHC-expects-Ottawa-housing-market-to-buck-national-trend-in-2016-and-2017/1)

For American buyers, now is a good time to invest in Canada, with the dollar currently sitting at $1.38 v Cdn.  Over the 10 year rolling average, the range has been $0.92 to a high of $1.47 (http://www.xe.com/currencycharts/?from=USD&to=CAD&view=10Y).  If you can buy, make instant equity on the purchase and then make $0.15 plus on the currency exchange, once oil prices start rising again.  Your clients are sure to realize large gains.

Ottawa is consistently ranked as one of the top cities in the world in which to live and raise a family.  According to Mercer, we ranked third in North America for quality of living and Today’s Parent says we are the second best place in the country to raise a family.  Profile of some urban neighbourhoods - http://www.livingin-canada.com/best-places-to-live-ottawa.html

Ottawa is in the home stretch of construction on the Light Rail Transit (http://www.ligneconfederationline.ca/), the largest and most important public infrastructure project since the UNESCO World Heritage Site, the Rideau Canal, the world's longest skating rink (https://www.ottawatourism.ca/ottawa-insider/rideau-canal-a-unesco-world-heritage-site/).  Just as the Canal changed Ottawa in 1832, the Light Rail Transit will be a driving force into the future, a necessary development as Ottawa crossed the magical 1,000,000 citizens mark in the coming years.

For mortgage financing, due to our close proximity and international relationships, USA buyers are welcomed into Canada.  There are two avenues for non-resident purchasers, traditional and alternative lending.  

For traditional lending
Amortization: 30 year max
Rate: Current best bank rates (i.e. 2.59% on a 5 year fixed)
Term: All terms available to clients
Down payment: 35%

For alternative lending
Amortization: 30 to 35 year max
Rate: Starting typically at 4.25%
Term: 1-3 years typically
Down payment: 20%

Another interesting development in Ottawa this past month is that Apple Inc, with their $200 billion in free cash, has leased space in the city and is opening an R and D facility where it is rumoured they will be developing the new "Apple Car software".  http://www.nationalpost.com/apple+ottawa+slicing+through+speculation+about+tech+giant+plans+canadian+capital/11690361/story.html

A major World Class company like Apple is moving to the Ottawa market due to the highly educated work force.  Ottawa is considered Silicon Valley North, and houses the most technology companies of any city in Canada.  (http://ottawarealestatepros.blogspot.ca/2016/01/ottawa-is-excellent-g7-capital.html)

Thursday, February 4, 2016

Ottawa resale market eases off with cooler January weather

Members of the Ottawa Real Estate Board sold 601 residential properties in January through the Board's Multiple Listing Service® system, compared with 626 in January 2015, a decrease of four per cent. The five-year average for January sales is 618.

"The market momentum gained from the warmer weather in the latter part of 2015 has eased off with the arrival of typical winter weather in January," says President of the Ottawa Real Estate Board, Shane Silva. "We are seeing a drop in the number of residential and condo properties listed this January over the year before. However, the number of properties listed almost doubled the amount listed in December - a normal occurrence at the beginning of the year as people begin to plan for the year ahead."

January's sales included 129 in the condominium property class, and 472 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.

"Residential unit sales this month were down, while condominium unit sales were up, over last year," says Silva. "Residential two-storey and bungalow homes continue to have the highest concentration of buyers, with three-storey homes increasing in sales by over 50 per cent since this time last year. Two-storey condominium properties had a similar increase, showing the same amount of unit sales as one-level properties." 

The average sale price of a residential-class property sold in January in the Ottawa area was $386,839, an increase of 4.6 per cent over January 2015. The average sale price for a condominium-class property was $247,205, a decrease of 1.3 per cent over January 2015. 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.

"A possible explanation for the increase in residential average sale price this month over last year is that the amount of properties sold over $1 million doubled that of last year, with six properties sold this month," notes Silva. "Nevertheless, the hottest segments of our market in January were sales in the $300,000 to $400,000 range, followed closely by the $200,000 to $300,000 range. In addition to residential and condominium sales, OREB members assisted clients with renting 200 properties in January."

Ottawa’s Best Places Closer to Downtown

On this page, we’ll share our picks with you for Ottawa’s best inner-suburban to downtown neighbourhoods.
If you haven’t done so already, you could read our where to live in Ottawa page.
On that page, you’ll find out how we selected the neighbourhoods, and how real estate prices in each neighbourhood relate to Ottawa’s averages.
You’ll also get our picks for outer-suburbs/rural living in Ottawa.

1. Beacon Hill North

Beacon Hill North is much closer to downtown than the areas we’ve already looked at, about 8 or 9 km north east of Parliament Hill. Its population is about 10,000.
Here are our ‘nearer to downtown’ Picks
Map data ©2016 Google
Click a red marker to learn more
about any of the areas we’ve picked

Colonel By Secondary School,
in Beacon Hill North
Ottawa’s top rated public school
The people living in the area are generally well-educated, earning a little more than average for Ottawa.
The main thing the area has to recommend it, in addition to better proximity to downtown, is Ottawa’s (probably) best public high school, Colonel By Secondary School.
The school is rated Ottawa’s best secondary school by the Fraser Institute, both for its raw academic results and for ‘adding value,’ achieving better results than expected. In 2005 Colonel By was ranked as the third best academic school in Canada by McLeans’ Magazine.
In addition to Canadian qualifications, for an annual fee of about $250 students are offered the opportunity to study for the International Baccalaureate.
As a result of the school’s high performance, its catchment area (the street addresses where students must live to attend the school) is rather small.
Crime rates tend to rise in Ottawa with proximity to downtown, but you shouldn’t expect to find much if any more crime in Beacon Hill North than the areas we’ve already looked at.
In the Beacon Hill area, you’ll find the headquarters of Canada’s National Research Council and its large scientific research campus.
You won’t find many shops or restaurants in Beacon Hill North.
Driving downtown will take about 20 minutes in rush hour, while the bus will get you there in about 35 minutes.
Expect to pay about $450,000 for an average house and about $250,000 for an average condominium apartment.

2. Nepean

This is a large area in western Ottawa. It’s so large that its outer parts would probably have fitted better on our earlier page, which looks at outer-suburbs/rural living in Ottawa.

Sir Robert Borden High School – You could
start a virtual tour of the area here.
Some parts of Nepean are urban, some suburban, some border the green belt.
‘Nepean’ can have a number of historical meanings in Ottawa; the area we’re considering sits within the catchment areas of two highly rated high schools – Sir Robert Borden High School, which is about 12 km from downtown, and Merivale High School, which is about 9 km from downtown.
Sir Robert Borden High School is in the western part and Merivale High School in the eastern part of the area; broadly speaking, the western neighbourhoods are more affluent than the eastern neighbourhoods.
This area is close to the Airport and is home to Algonquin College, Centrepointe Park and Ben Franklin Park. It is also adjacent to the city’s greenbelt, so there are plenty of walking/cycling/skiing trails to keep you active.
Driving downtown will take about 30 minutes in rush hour, while the bus will get you there in about 35 – 40 minutes.
Expect to pay about $500,000 for an average house in this area and about $280,000 for an average condominium.

3. Westboro

Westboro Beach in summer
Westboro Beach in summer
Image by Greencolander
Westboro is closer to downtown than the other areas we’ve looked at so far and has become popular with younger professional people.
It’s a gentrified urban area, popular with families who hanker after more of a ‘coffee shop’ city feel than they’d find in more suburban areas like Barrhaven or Kanata. Despite this, in addition to condominiums, there are also plenty of detached houses in leafy streets.
This area is within the catchment/attendance boundaries ofNepean High School, a high school awarded a very high rating by the Fraser Institute.
Nepean High School lies about 6 km south west of Parliament Hill, downtown – a 13 minute drive outside rush hour.

Detached family homes and condos in Westboro
While crime rates in Westboro are a little higher than the very low rates seen farther out in Ottawa, they are still comparatively low.
Westoboro has a beach by the river and Dovercourt Recreation Centre is a great facility for families with a pool, sauna, baby pool, water slide, aerobics studio, dance studio, internet café, tennis courts, play structures, etc.
During rush hour, you can drive downtown from Westboro in about 20 minutes, while the bus will take about 30 minutes.
Expect to pay over $500,000 for an average house and over $350,000 for an average condominium.

4. Centretown – Byward Market – Sandy Hill – New Edinburgh

If you’d like to live in the heart of the city, Lisgar Collegiate Institute is a mere 1 km or so from Parliament Hill.
Byward Market at Night
Byward Market at Night
Image by Ian Muttoo
Lisgar Collegiate Institute was awarded a very high rating by the Fraser Institute.
The neighbourhoods we consider here are all within Lisgar’s catchment area.
As a consequence of living close to downtown, it’s not possible to find neighbourhoods with crime as low as the other areas we’ve considered so far on this page, and farther out.
Centretown, Byward Market, and Sandy Hill are within Ottawa’s Somerset and Rideau-Vanier Wards, which are the two highest crime rate wards in Ottawa.
New Edinburgh is within the Rideau-Rockcliffe Ward, which has the third highest crime rate in Ottawa, still significantly lower than Somerset and Rideau-Vanier.
Although the crime rate is higher than the other areas we’ve considered, these are still reasonably safe, pleasant areas.
Houses in Sandy Hill
Houses in Sandy Hill
Image by Dmitri Lytov
They are the most convenient places to live for Ottawa’s downtown, nightlife and restaurants.
Sandy Hill is where you’ll find the University of Ottawa.
Its population is about 10,000 and, not surprisingly, it’s a well-educated area.
It’s a very diverse area economically, with a cosmopolitan range of people living there including wealthy professionals, university staff, students, and homeless people in shelters.
Byward Market is one of the city’s biggest tourist draws; it’s busy and vibrant, there are great restaurants, cafés, bistros, bars, clubs, a great market, and also more of Ottawa’s downsides than you’ll see in other areas, such as homeless people and drunkenness.
Houses in Sandy Hill
Snow Plows in Centretown
Image by Mike Gifford
It’s not the best neighbourhood for a family; it’s better for young singles and couples.
New Edinburgh is a quieter, more affluent area and slightly farther from downtown than the others in this section, but handy for the nightlife of Byward Market.
Byward Market – Expect to pay about $400,000 for an average house and about $400,000 for an average condominium.
Sandy Hill and Centretown – Expect to pay about $350,000 for an average condominium. Good quality family homes are expensive.
New Edinburgh – Expect to pay about $700,000 for an average house and about $550,000 for an average condominium.

5. Glebe – Dows Lake


The Glebe
The Glebe is handy for downtown, sitting just south of Centretown.
It’s slightly farther from downtown, which means it has a lower crime rate than Centretown – Byward Market – Sandy Hill.
The Glebe is a wealthy part of Ottawa, with well-educated people, large expensive houses, and a strong sense of community.
During rush hour, you can drive downtown in about 10 minutes, while the bus will take about 15 minutes.
Expect to pay about $750,000 for an average house and over $450,000 for an average condominium.

Monday, February 1, 2016

Welcome to Ottawa, Apple and your $200,000,000,000 in free cash ....

One of the most recognized brands in the world is expanding into Ottawa, with an R and D facility in Kanata.  

Apple has remained silent about its plans for a 22,000-square-foot space under renovation in Kanata (a suburb of Ottawa), or how its new vice-president of core operating systems, Sébastian Marineau-Mes, will build out the company’s Ottawa team.
But in the rumours and discussion spurred by Apple’s pending arrival, some common themes are emerging. The most prominent is that its current space is just the beginning of what will become a much larger research and development centre that could employ as many as 200.
...
Still, any automobile or automotive platform that Apple might make will only be as good as the software on which it runs. Which brings us back to Ottawa and Marineau-Mes and his former company. QNX’s software runs on more than 50 per cent of the automobiles on the road today. Its superiority was responsible for the demise of Microsoft Corp.’s much hyped Sync in-car operating system that was primarily associated with Ford.
The people at QNX know what they’re doing, and Apple knows it. If Apple is preparing to give the world some bold new brand of automobile, then Ottawa’s technology sector is poised to help in its delivery.


Please see the link to the following article - click here