tag:blogger.com,1999:blog-88558026088297305852024-03-06T15:02:58.516-05:00Ottawa Real Estate Pros - Greg Blok, Broker of Record, Bennett Property Shop Kanata Realty BrokerageEach home you purchase is an investment. I strive to make sure your home purchase is a good decision now and in the future. I work with buyers/sellers/investors on all styles of properties. I work hard to help potential home buyers reach their goals. Bennett Real Estate Pros were #1 (KWRI 2010 and 2011, www.bennettpros.com). We strive to offer 5 star service to clients in their search for their most important asset. We’re Platinum Club members, the top 1% of realtors in the world.Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.comBlogger99125tag:blogger.com,1999:blog-8855802608829730585.post-56429281182926287942019-09-05T23:14:00.002-04:002019-09-05T23:14:11.126-04:00Ottawa housing market stays hot through August, home sales up 10%<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://bennettpros.com/">Ottawa’s residential real estate </a>market showed no signs of cooling off in August, with the number of home sales up nearly 10 per cent from a year earlier.</div>
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Members of the <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board sold 1,731 homes last month, compared with 1,581 in August 2018 and far above the five-year average of 1,522 for the month. </div>
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Sales in the residential class – which include detached, semi-detached and multi-unit homes – jumped 9.7 per cent year-over-year to 1,300. Condo transactions also continued to grow at a healthy pace, with the 431 sales recorded in August up 8.8 per cent from a year earlier.</div>
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“August’s 10 per cent increase in unit sales from 2018 is over twice the percentage increase experienced last year and three times higher than the previous August,” OREB president Dwight Delahunt said in a news release. “However, although the numbers are up, Ottawa continues to undergo issues with inventory as the limited supply persists.”</div>
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That supply crunch helped fuel significant price hikes in both the residential properties and condos. The average sale price of a residential property was $484,921, a jump of 11.8 per cent year-over-year, while the average condo price in August was $308,781, an increase of 11.5 per cent from last year. So far in 2019, prices of residential-class properties have increased 8.4 per cent, while condo prices have risen 7.9 per cent.</div>
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“Year-to-date average prices, which are more reliable indicators than monthly average prices, show steady, reasonable and sustainable increases,” said Delahunt. “We don’t anticipate there will be a major correction in the foreseeable future.”</div>
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The $350,000-to-$499,999 price range continued to be the most popular in the residential market, accounting for 42 per cent of the transactions in August, while 27 per cent of residential sales were in the $500,000-to-$749,999 bracket. Meanwhile, about half of all condos sold last month were in the $250,000-to-$399,999 range.</div>
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As of Sept. 2, first-time homebuyers with annual household incomes of $120,000 or less can be eligible to receive an interest-free loan from the federal government worth up to five per cent of a resale home purchase and up to 10 per cent of a new home buy. </div>
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Delahunt said it’s “too early to tell” how the loan program will affect the <a href="http://bennettpros.com/">Ottawa real estate market, </a>noting the new measures “are not helping the supply side.”</div>
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OREB’s president said addressing the lack of housing in the National Capital Region needs to be a top priority for all levels of government. </div>
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“Coming into the fall months, which are typically busy, we expect the market will continue to pick up steam,” he added.</div>
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For the complete article, <a href="https://obj.ca/article/ottawa-housing-market-stays-hot-through-august-home-sales-10">please click here</a></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-12384378856435444672019-09-05T23:11:00.000-04:002019-09-05T23:11:11.629-04:00Bagnall - Ottawa house prices jump 11.8 per cent in August as inventories continue to tighten<div dir="ltr" style="text-align: left;" trbidi="on">
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If you happen to be searching for a home in an established <a href="http://bennettpros.com/">Ottawa neighbourhood</a>, you won’t like these numbers. The <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board revealed Thursday that average prices for residential properties in August jumped nearly 12 per cent year over year to $484,900. It’s the third straight month in which resale prices have topped 10 per cent compared to the same period a year earlier, and the momentum seems to be growing. It’s the largest such increase in 17 years.</div>
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Board president Dwight Delahunt said the market’s momentum is strong enough that he doesn’t expect to see any cooling as a result of the federal general election, which is the normal pattern as people wait to see the makeup of the government after Oct. 21. “With limited inventory, we don’t foresee a stall,” he said. “It would appear that our consumers are confident in the market.”</div>
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Indeed, shrinking inventory has been a major influence this year. There were fewer than 2,800 residential units for sale at the end of August, down 22 per cent from a year earlier. This, in a city with roughly 250,000 owner-occupied dwellings.</div>
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The drop in the number of condos for resale was even sharper — just 614 were listed at the end of August, down a remarkable 44 per cent from August 2018. This was likely the catalyst for the unusually large 11.5 per cent jump in condo resale prices last month, pushing the average price to $308,800. Price gains in the condo resale market from January to July were more restrained — these tracked between 5.2 per cent and 7.7 per cent compared to the same periods a year earlier.</div>
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Condo prices varied quite a bit by region. They were strongest in the downtown core where the average price for a resale unit jumped 11.9 per cent to $405,750. In the south, condo prices increased 10.6 per cent to an average of $246,900 per unit while east end condos sold for $346,000, up an average of 7.1 per cent. The smallest price gains for condos were in the west, where units sold for an average of $333,300, up just 2.9 per cent year over year.</div>
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Fewer listings also reduced the amount of marketing necessary to move most properties. Residential properties sold in August had been listed an average of 42 days compared to 58 days a year earlier. For once, there was little difference between the salability of the two main property types. Condos sold in August had been listed an average of 43 days — down from 68 days a year earlier.</div>
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One reason prices didn’t rise more quickly in the face of fewer listings has to do with the recent sharp rise in new construction.</div>
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The Canada Mortgage and Housing Corp. calculated there was a nearly 20 per cent jump in new construction in Ottawa during the first seven months of this year compared to the same period in 2018. This appears to be a response to the unusually low inventories in the resale market.</div>
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Drilling a little deeper, most of the increase in new construction is to feed the demand for rented apartments. Year-to-date (ending July) there were an average of 4,760 apartment units under construction, up 31 per cent from the same period last year. New construction of standalone homes, duplexes and row houses topped 3,100 units year-to-date in Ottawa, up a modest 5.4 per cent.</div>
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For the complete article, <a href="https://ottawacitizen.com/news/local-news/ottawa-house-prices-jump-11-8-per-cent-in-august-as-inventories-continue-to-tighten">kindly click here</a></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-15307217390975535332019-08-15T22:47:00.001-04:002019-08-15T22:47:24.727-04:00City staff propose five themes for new 25-year official plan<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: Arial, Helvetica, sans-serif;">Ottawa is fresh off of celebrating its one millionth resident, but city staff are already thinking another 400,000 ahead. The municipal government is working on a new master plan to guide its decision-making and growth between 2021 and 2046, during which time the population is expected to reach 1.4 million. This new plan is supposed to prepare for that shift by broadly designating how that growth will be spread out, and how it will impact different parts of the city.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">A finalized version of the plan isn’t expected to be set in stone by council until spring of 2021. Nonetheless, city staff outlined on Monday a slew of suggested policy directions under five themes that, if approved, will guide the discussion around the remaining stages of the plan’s development. Staff have released the so-called “five big moves” so that members of the public can familiarize themselves for future consultations.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Briefly summarized, the five themes are: intensification, transportation, “sophistication” in urban and community design, environmental and public health, and economic development.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Corresponding to the five themes, this newspaper has identified five points of interest from among the many policy directions released Monday.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="border: 0px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">1. Encouraging more sustainable commutes: </span>In 2016, 41.5 per cent of commuters listed a sustainable mode of transportation — cycling, transit, walking or carpool — as their main way to get around. The city wants to push this even further by ensuring that, by 2046, most trips in Ottawa are sustainable. They recommend new developments be built near existing transit infrastructure like O-Train stations, and that the focus on light rail should continue even after Stage 2 and a possible Stage 3 are completed.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">There’s no policy direction calling for an overhaul in the city’s approach to cycling, though a lot of the other directions include bullet points recommending things like a focus on cyclist connections to transit hubs and including cycling infrastructure in new streets.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="border: 0px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">2. Building up instead of out: </span>Rather than directing population growth to new suburban developments further and further into green space, the city wants to concentrate on “intensifying” already built-up areas. City staff say this would mean less impact to outlying agricultural lands, more access to services and businesses that already exist in those neighbourhoods, and shorter commute times for residents — what they refer to as “walkable 15-minute neighbourhoods.”</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="border: 0px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">3. Nod to affordability: </span>With a shrinking rental market and soaring property prices, some groups have said that <a href="http://bennettpros.com/">Ottawa real estate</a> is experiencing an affordable housing “crisis.” The new plan includes just a couple notes on affordability, proposing that new city-owned facilities should come with built-in affordable housing, and that close placement to transit should reduce mobility costs for residents.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="border: 0px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">4. Change in deciding where to locate industrial space: </span>City staff are suggesting the municipal government could do a better job of integrating workplaces into the same urban areas where workers live, rather than lumping office space into a segregated campus or business park.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Ottawa’s employment is “primarily knowledge-based,” the document says, referencing office jobs in the public service, research and academia. The city wants to ensure these jobs “are not segregated into separate lands away from other areas of the city, but rather that they locate in lively areas such as main streets and transit nodes.”</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="border: 0px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">5. Protecting the skyline: </span>There are a few proposed policy directions for strengthening the city’s heritage protection to ensure that old buildings like churches and schools find new occupants as they live beyond their original use. </span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="letter-spacing: 1.5px; text-transform: uppercase;">And opponents of the Château Laurier extension will be interested to hear that, in the context of “the city’s evolving skyline” and “the rising interest in addressing city image matters,” the plan recommends identifying views of the city skyline that should be placed under protection as new towers and developments are built.</span></span></div>
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<span style="letter-spacing: 1.5px; text-transform: uppercase;"><span style="font-family: Arial, Helvetica, sans-serif;">for the complete article kindly <a href="https://ottawacitizen.com/news/local-news/city-unveils-five-themes-for-new-25-year-plan">click here </a></span></span></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-66352840478133449222019-08-06T22:44:00.002-04:002019-08-06T22:44:15.797-04:00 Kinaxis to more than double size with new Kanata HQ<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://bennettpros.com/">Ottawa</a>’s software gorilla Shopify has made so much noise in the past few years building a global business, it’s been easy to miss the rise of Kinaxis, another software star about to make a statement of its own.</div>
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Kinaxis, which employs more than 400 in southwest Kanata, will announce Monday that it intends to lease a new headquarters building more than double the size of its current location at 700 Silver Seven Road.</div>
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It says a lot about the firm’s ambition that Kinaxis does not intend to sublet any of its new space — some 165,000 square feet in the Kanata West Business Park, adjacent to retailer Tanger. Kinaxis expects to fill the facility in a few years with its own people. Not only that, the software firm has an option to add another 100,000 square feet of office space if business continues on its current path.</div>
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“We’ve outgrown two headquarters buildings,” says Megan Paterson, the company’s head of human resources. “We don’t want to have this problem again.”</div>
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Kinaxis is one of the region’s tech pioneers. It began life in 1984 as Cadence Computer Corp. and now makes software that helps many of the world’s largest corporations manage their insanely complicated supply chains. It’s a thriving software niche. In the past two weeks alone Kinaxis added three multinationals — Yamaha Motor Co., Johnson Electric and Infosys — to its growing list of clients.</div>
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TD Securities analyst Daniel Chan pointed out in his July 26 research note that Kinaxis has other “very large customers” in the pipeline. He forecast company sales of $185 million (all figures U.S.) this year, up 23 per cent, and nearly $212 million next year.</div>
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Kinaxis is also richly profitable, part of the reason its market value tops $2.2 billion. Solid cash flow gives it the wherewithal to invest in new hiring and infrastructure.<span style="color: white; font-style: inherit; font-variant-caps: inherit; font-variant-ligatures: inherit; font-weight: bold;">r</span></div>
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<span style="color: white; font-style: inherit; font-variant-caps: inherit; font-variant-ligatures: inherit; font-weight: bold;">e’s not a day when we’re not hir</span>The software firm has been increasing staff levels at roughly 20 per cent annually and expects to continue this rate of growth. The bulk of the workforce is <a href="http://bennettpros.com/">Kanata</a> based but the company also employs 200 in offices in Europe and the Pacific Rim. Employment growth is company wide.</div>
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“We’re just getting started,” said Kinaxis CEO John Sicard. “There’s not a day when we’re not hiring.”<span style="color: white; font-style: inherit; font-variant-caps: inherit; font-variant-ligatures: inherit; font-weight: bold;">ing.”</span></div>
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Sicard and Paterson realized last year Kinaxis would soon bust out of its existing quarters. Space was already tight — less than 64,000 square feet in total — and there’s no cafeteria and precious few meeting rooms.</div>
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Thought was given briefly to leasing an additional building nearby but no one liked the idea of splitting up the workforce. But this led to a problem. Tech companies based in Kanata have been doing so well they’ve snapped up most of the previously available office space, along with most of that provided by newer projects along Innovation Drive and Palladium Drive. The office vacancy rate in Kanata last quarter was less than seven per cent according to CBRE, a real estate consulting group — the lowest in more than a decade.</div>
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Kinaxis concluded it would have to commission and lease a custom-built facility — much as optical networking giant Ciena did along Kanata’s Terry Fox Drive. Ciena’s campus opened two years ago, and now houses about 1,600 workers in three linked buildings comprising 425,000 square feet of total space.</div>
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Kinaxis last fall issued a request for proposals for its new headquarters. Six builders responded and Kinaxis selected Taggart early this year for the job.</div>
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Taggart had a couple of things Kinaxis liked in particular — plenty of open land at its <a href="http://bennettpros.com/">Kanata West </a>Business Park — and a proposal that allowed for a long-term expansion that featured two linked facilities. Detailed design work is just getting underway so the precise look of the Kinaxis campus is unknown. However it will include cafeterias and plenty of areas where workers can collaborate.</div>
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The proposed location is no accident. When Kinaxis sought views about a preferred site from its staff and customers, sentiment was overwhelmingly against a move into <a href="http://bennettpros.com/">Kanata North</a> — the section of town dominated by Ciena, Nokia and Ericsson. Commuting there has become a nightmare in recent years. Such was the antipathy for a move away from <a href="http://bennettpros.com/">West Kanata</a> employees conducted election-style campaigns, posting Vote Tanger signs in the washrooms.</div>
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“We’ve got employees who joined us in order to get away from Kanata North traffic,” Paterson said.</div>
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Not that rush hour is especially tranquil around Kinaxis’s current location. The office tower at 700 Silver Seven Road was custom built for Kinaxis at the peak of the tech boom in 2000 — when this section of Kanata was relatively traffic free. But the addition in the meantime of a Costco outlet just down the road, among other retailers, has made it difficult for Kinaxis employees to safely exit their firm’s parking lot.</div>
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Nevertheless, with the prospect of being able to move into new digs as early as September 2021, there is the prospect of commuting relief. Not so at Kanata North.</div>
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<a href="https://ottawacitizen.com/business/local-business/kinaxis-to-more-than-double-size-with-new-kanata-hq">The full article is available here </a></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-51202749466328726592019-08-06T17:13:00.002-04:002019-08-06T17:13:13.692-04:00Hot Market in a Scorching July <div dir="ltr" style="text-align: left;" trbidi="on">
OTTAWA, August 6, 2019 -<br />
Members
of the <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board sold
1,842 residential properties in July
through the Board’s Multiple Listing
Service® System, compared with 1,605
in July 2018, an increase of 14.8 per
cent. July’s sales included 1,382 in the
residential-property class, up 12.3 per
cent from a year ago, and 460 in the
condominium-property category, a rise
of 23 per cent from July 2018. The
five-year average for July unit sales
is 1,579.<br />
<br />
“Typically, after the busy spring, July
tends to be a slower month as people
take vacations and spend more time
with their families, but there was no
slow down this past month,” observes
Dwight Delahunt, President of the
<a href="http://bennettpros.com/">Ottawa Real Estate</a> Board. “In fact,
we recorded the highest number of
July sales in 15 years.”
“Also, for the first time in 2019, there
was an upsurge in new listings which
has slightly improved housing inventory.<br />
<br />
Although this is encouraging news, it is
not enough to keep up with demand. In
order to bring about a more balanced
market, there needs to be at least a
three-month supply of listings. Currently,
Ottawa is closer to a one-month supply,”
he adds.
“In this type of market, it is vital that
Sellers utilize the experience and
advice of a <a href="http://bennettpros.com/">REALTOR® in Ottawa</a> to maximize
your property’s potential — and if you
are a Buyer, to guide you through
the complexities this intricate market
presents,” Delahunt recommends.<br />
<br />
July’s average sale price for a
condominium-class property was
$299,665, an increase of 6.8 per cent
from last year while the average sale
price of a residential-class property was
$487,308, an increase of 10.4 per cent
from a year ago.*<br />
<br />
“Residential house prices continue
to increase; however, these are
reasonable gains and are not creating
a bubble by any stretch,” Delahunt
maintains. “<a href="http://bennettpros.com/">Ottawa Condo</a> prices have now
recovered, and the oversupply in that
sector no longer exists. Ottawa has a
healthy condo market and with major
developments coming online in the
future, we expect these too will be
absorbed in due course.”<br />
<br />
The $350,000 to $499,999 price range
was the most prevalent price point in
the residential market, accounting for 42
per cent of July’s transactions while 28
per cent of residential sales were in the
$500,000 to $749,999 range. The most
active price point in the condominium
market, $225,000-$349,999, accounts
for 52 per cent of the units sold.<br />
<br />
When asked about how the upcoming
federal election might affect the real
estate market, Delahunt emphasizes,
“We continue to believe the stress test
is negatively impacting our housing
market and look forward to hearing
about how the various parties intend
on addressing this contentious issue
as the election approaches.” </div>
Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-44668271919662399352019-07-06T22:51:00.002-04:002019-07-06T22:51:29.755-04:00Ottawa Real Estate Board on Budget 2019<div dir="ltr" style="text-align: left;" trbidi="on">
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<em style="box-sizing: inherit;">OTTAWA</em> – The <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board (OREB) is pleased the federal government is taking measures towards supporting homeownership for many Canadians in the 2019 budget but suggests there were opportunities missed.</div>
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“Some first-time homebuyers will be assisted through the shared-equity mortgage program and the increase of RRSP withdrawals to $35,000,” states Dwight Delahunt, OREB’s 2019 President. “However, we would’ve preferred a measure such as the one we proposed to government to increase the first-time homebuyers’ tax credit from $750 to $2500 as this would not have created another debt to be repaid.”</div>
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“While the government has said these measures are to help Millennials specifically, we question whether this cohort actually has this amount invested in RRSPs and whether they will be able to qualify for a shared-equity mortgage program. Many Millennials are facing affordability issues related to their income levels and student debt,” Delahunt asserts.</div>
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“We certainly applaud the modernization of the Homebuyer’s Plan to include those going through difficult life-changing circumstances, such as the breakup of marriage/common-law relationships – we have been advocating for this for some time,” he acknowledges.</div>
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“Direct measures to address the supply side challenges we are experiencing, particularly in our local Ottawa market, is another issue we would have liked to seen more concrete action on. Although the government has recognized the need to examine this matter further and is launching a challenge to municipalities and creating an expert panel to provide recommendations on the future of housing supply and affordability, we think this matter has already been examined by many experts and the government could have come up with more substantial measures,” Delahunt suggests.</div>
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“Our biggest disappointment was that government failed to make any adjustments to the B-20 (stress test) which was an attempt to cool two major markets in the country. We hope the government will continue to monitor the effects of its mortgage policies and be open to adjusting them if necessary. They need to recognize that while mortgage debt is on paper the largest component of household debt, it is the lines of credit and credit cards that can have a major impact due to the much higher carrying costs of these facilities.”</div>
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“As reported by the <a href="http://bennettpros.com/">Canadian Real Estate</a> Association (CREA), the economic and social benefits of homeownership are vital,” Delahunt concurs. “Between the $31.7 billion in spin-off spending and the creation of more than 216,000 jobs in 2018, a strong, healthy housing sector is crucial to the Canadian economy.”</div>
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Delahunt concludes, “Overall, we are satisfied with the attempts put forth by the federal government to address many issues involved in the housing market and appreciate their recognition of the valuable input provided by REALTORS®, and their Boards and Associations.”</div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-5097637665332702032019-07-06T22:47:00.000-04:002019-07-06T22:47:06.212-04:00Condo Sales Continue to Dominate Resale Market<div dir="ltr" style="text-align: left;" trbidi="on">
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Members of the <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board sold 2,105 residential properties in June through the Board’s Multiple Listing Service® System, compared with 2,064 in June 2018, an increase of 2 per cent. June’s sales included 1,612 in the residential-property class, on par with a year ago, and 493 in the condominium-property class, a rise of 8.8 per cent from June 2018. The five-year average for June unit sales is 2,002.</div>
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“Year to date residential resales are virtually the same as this time last year with 7,565 transactions so far,” announces Dwight Delahunt, <a href="http://bennettpros.com/">Ottawa Real Estate </a>Board President. “Increasing by 8.3%, condo resales are the driving force for the upturn in units sold in the first half of 2019. Combined residential and condo year to date sales of 9,876 show a 1.8 per cent increase from June 2018,” he adds.</div>
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June’s average sale price for a condominium-class property was $308,482, an increase of 6.2 per cent from last year while the average sale price of a residential-class property was $500,716, a rise of 11.4 per cent from a year ago. *</div>
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“Although, the percentage increase in average price for a residential property climbed into the double digits in June, year to date figures indicate a steady growth of 7.6 per cent and 7.5 per cent for residential and condominiums respectively.”</div>
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“In the past decade, we have seen an approximate 52% increase in average prices for residential properties and 34% for condominiums, indeed an excellent return on investment for homeowners,” states Delahunt. “With a population reaching one million residents according to the City of Ottawa, we truly enjoy a high quality of living and remain one of Canada’s most affordable major cities – that’s no small feat.”</div>
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The $350,000 to $499,999 price range was the most prevalent price point in the residential market, accounting for 43 per cent of June’s transactions while 29 per cent of residential sales were in the $500,000 to $749,999 range. The most active price point in the condominium market for the third straight month, $225,000-$349,999, accounts for 55 per cent of the units sold.</div>
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“Some areas of the city are experiencing multiple offers, and the competition for well-priced and positioned properties is brisk. Even though 39% of properties this month sold above the asking price, the vast majority of properties are still being sold at or below the listed price,” Delahunt points out. “A professional REALTOR’S® market knowledge and neighbourhood expertise are invaluable whether you are a buyer or a seller,” he maintains.</div>
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“This is not a speculation market. Going forward, we anticipate there will be a high demand in the foreseeable future due to increasing population and strong employment in the area. We are pleased to see all levels of government starting to address the supply side issue, but we feel there is still work to be done. We will be watching the upcoming federal election closely to gain insight as to how the various parties intend on addressing attainable homeownership issues,” Delahunt concludes.</div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-15061824124211370792019-07-06T22:43:00.002-04:002019-07-06T22:43:24.235-04:00 Ottawa housing market steps it up a notch in June<div dir="ltr" style="text-align: left;" trbidi="on">
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Given the shortage of house listings and price momentum of the past couple of years, it was perhaps inevitable that Ottawa’s housing resale market would bust out.</div>
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It did so in June. While the benchmark price for single family homes jumped a robust nine per cent year over year to $466,300, the 10 frothiest districts — all west of Bank Street — saw gains ranging from 13 per cent to nearly 23 per cent, according to data published this week by the <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board.</div>
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By the steady-as-you-go historical standards of Ottawa, this is strange new territory.</div>
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Here’s what’s behind it:</div>
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First, the declining inventory. The board said there were 3,048 residential listings at the end of June, down 23 per cent from a year earlier and off 33 per cent from June 2017. The number of condos available for resale has dropped even faster. Condo listings were a slim 826 in June, a decline of 41 per cent year over year, and down 50 per cent since June 2017.</div>
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All things being equal, dramatic declines in available properties on their own should boost prices significantly.</div>
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But in the west end there are also a couple of other price catalysts. One is the growing occupancy of the headquarters of the Department of National Defence at 60 Moodie Dr., which is prompting military and civilian employees to locate nearby, especially those who are moving into the region from other military bases.</div>
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Kanata’s high-tech industry has also become an increasingly strong magnet. In part, this is thanks to the remarkably strong performance of traditional anchors such as telecommunications specialists Ciena, Nokia and Ericsson, but it also reflects the rise of lesser-known firms such as Syntronic, ProntoForms, Cliniconex, Solink and Solace Systems. This is an industry sector newly invigorated by the rise of fifth-generation wireless technology and software-as-a-service.</div>
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Roughly 60 per cent of the city’s 50,000 high-tech employees work out of Kanata, up significantly from a decade ago — when the demise of Nortel Networks appeared to have dealt a body blow to the entire sector. Today, real estate developers are working on plans to add more than 10,000 housing units in and around Kanata, projects that will, if implemented, relieve some of the pressure on the commutes to and from the city.</div>
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Indeed, the number of new housing developments around Kanata may have helped to moderate price hikes for single family homes up for resale. The benchmark price for single family homes resold in June in Kanata was $481,700 — up 8.8 per cent year over year or roughly in line with the average for the city.</div>
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The biggest price hikes occurred in Britannia Heights (up 22.5 per cent to $560,600), Mooney’s Bay-Carleton Square (up 21.6 per cent to $616,400) and Britannia & Lincoln Heights (up 18 per cent to $519,500). Some caution is required here as the Canadian Real Estate Association, which calculates the benchmark data, appears to have revised part of the series starting two months ago. Even so, it’s clear that price gains have been significant throughout the western parts of the city.</div>
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The <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board also provided a snapshot this week of how average house and condo prices moved in June. Residential properties in June sold for an average of $500,700 — up 11.4 per cent year over year, marking the first time that average prices topped half a million dollars. Despite the rapid rise, board president Dwight Delahunt insisted, “This is not a speculation market.” He noted that fewer than 40 per cent of properties sold above the asking price, mostly “well-priced and positioned properties”.</div>
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Even so, there’s no denying this is now a sellers’ market.</div>
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Condos also proved attractive, selling for $308,500 on average in June — up 6.2 per cent compared to June 2018. This was despite the heavy marketing of new condos throughout the downtown core.</div>
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To read this complete article, <a href="https://ottawacitizen.com/news/local-news/ottawa-housing-market-steps-it-up-a-notch-in-june">kindly click here.</a></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-1109480240387301902019-06-19T22:34:00.001-04:002019-06-19T22:34:48.113-04:00Why Kanata has a traffic problem: Its tech stars are busting out<div dir="ltr" style="text-align: left;" trbidi="on">
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If you really want to understand why traffic in <a href="http://bennettpros.com/">Kanata</a> has become such a chore for commuters, there’s a simple explanation. High-tech, and the firms that serve it, have been doing very, very well.</div>
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Consider the recent experience of two very different tech firms on opposite ends of Kanata. In the southwest corner, software giant Kinaxis — which hosted its annual shareholders meeting Friday — is outgrowing its headquarters building at 700 Silver Seven Rd., prompting a search for additional office space.</div>
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Since it first issued shares to the public in 2014, Kinaxis has expanded from 260 employees to 600. While much of the more recent growth has occurred overseas, the Canadian workforce — nearly all of it in Kanata — has jumped from 190 employees to nearly 400.</div>
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The need for more hiring isn’t expected to diminish. Kinaxis is in the business of making heavy-duty software that allows multinationals to track orders, inventories and other elements of their very complicated supply chains. The company’s revenues are expected to grow an average of 20 per cent this year and next to more than $210 million U.S. annually. The market value of Kinaxis this week topped $2.2 billion Cdn.</div>
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Employment growth has been even more dramatic at Syntronic R&D Canada, which maintains its operations in the northeast section of Kanata. Unlike Kinaxis, which is a home-grown pioneer with three and a half decades of history here, Syntronic is a wholly-owned unit of a Swedish company. It makes its living helping other high-tech firms with R&D and related projects.</div>
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In 2014, Syntronic executive Hans Molin arrived in Ottawa from his native Sweden to start operations here.</div>
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Syntronic didn’t panic, however. Its well-connected engineers fanned out across the <a href="http://bennettpros.com/">Ottawa region</a>, hunting for customers in need of R&D services. “If you stand on our roof and look at all the corporate logos,” said Darrell Wellington, the first BlackBerry engineer hired by Molin, “most of the names you see are now our customers.”</div>
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Indeed, Syntronic’s Kanata workforce is approaching 300. Molin says he is hiring at the rate of 100 per year. “I don’t see a target date when that would stop,” he added. “Five more years? I have no idea.”</div>
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What’s driving this? Consider the customers he’s serving. There’s Ericsson and Nokia, companies in the thick of the race to provide fifth-generation wireless technologies in competition against China-based Huawei Technologies. (It’s telling that Syntronic does not do business with Huawei). Mitel, another Syntronic customer, is a leader in the business of telecommunications software, and QNX makes operating systems for self-driving vehicles, another industry with a big future.</div>
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These and other clients are investing billions of dollars in the drive to keep their technologies fresh, which suggests the need for R&D services such as those provided by Syntronic will be strong for years to come.</div>
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Is there enough raw talent in the <a href="http://bennettpros.com/">Ottawa area </a>to do the job? Molin acknowledged some concern on this front. “Help us grow the next generation of engineers here,” he said in a short speech before a handful of municipal and federal politicians, guests of his company’s celebration. “The Nortel generation will not be here forever,” he added.</div>
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The latter was a reference to the thousands of former Nortel engineers who are scattered throughout Ottawa’s tech industry. Many are approaching retirement age.</div>
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The biggest contingents of course work at Ciena, Ericsson, Avaya and Ribbon Communications, companies that acquired pieces of Nortel out of bankruptcy court. Ciena, an optical communications specialist, is firing an all cylinders.</div>
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All told, tech firms across Ottawa employ roughly 50,000. Nearly half work in Kanata, which has acquired some critical mass.</div>
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One of the lessons of Nortel’s breakup for electronic engineers and other tech workers is the importance of diversifying their personal risk. They are attracted to clusters of tech firms for the simple reason that, if their first choice goes bankrupt or restructures, there are other firms nearby such as Kinaxis or Syntronic, where they can continue their careers. Is the cluster here healthy enough to entice newcomers to the area?</div>
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The heavy traffic suggests that it is.</div>
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for the complete article, <a href="https://ottawacitizen.com/business/local-business/why-kanata-has-a-traffic-problem-its-tech-stars-are-busting-out">please click here</a></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-87879819202102490972019-06-19T22:29:00.003-04:002019-06-19T22:29:18.686-04:00A city of a million: Ottawa by the numbers<div dir="ltr" style="text-align: left;" trbidi="on">
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What does Ottawa look like? CBC crunched the numbers</h2>
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<span style="color: #222222; font-size: 16px;">Ottawa hit a major population milestone this week.</span></div>
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The city <a href="https://www.cbc.ca/news/canada/ottawa/ottawa-hits-one-million-population-1.5170559" style="border-bottom: 1px solid rgb(216, 216, 216); color: #0550c8; text-decoration-line: none; transition: background-color 0.25s linear 0s;">announced Tuesday</a> that Ottawa has reached one million people.</div>
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CBC crunched Statistics Canada's numbers from the 2016 census to show you what the city looks like when you break it down.</div>
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<span style="font-size: large;">Degrees and diplomas </span></h2>
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Ottawa is full of highly educated individuals. </div>
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More than half the adult population has some form of post-secondary education. The most popular area of study is business, management and public administration.</div>
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All that education adds up to a median full-time employment income of $65,140. That's $10,000 higher than the provincial median.</div>
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<b><span style="font-size: large;">A diverse city </span></b></div>
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More than 70 per cent of Ottawans speak English most often at home and roughly 10 per cent speak French. But there are a lot of other languages frequently used in living rooms across the city.</div>
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Arabic, Mandarin, Spanish, Cantonese and Farsi are the top five non-official languages listed in the 2016 census. Vietnamese, Somali and Russian are next on the list.</div>
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This is just a snapshot of the city, but it gives you a glimpse into the one million people who live here.</div>
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For the complete article, <a href="https://www.cbc.ca/news/canada/ottawa/ottawa-by-the-numbers-1.5163982">please click here </a></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-27674305977661212072019-06-09T10:10:00.001-04:002019-06-09T10:10:42.347-04:00Ford finally takes the wraps off its Ottawa offices, now employs more than 300 people here<div dir="ltr" style="text-align: left;" trbidi="on">
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Ford Motor Co. has finally removed the shroud of secrecy surrounding its Ottawa offices, showcasing the soon-to-be-released 2020 Ford Explorer and using the new vehicle to explain all of the development the company is now performing in the nation’s capital.</div>
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<b>The automaker came to an agreement with BlackBerry Ltd. in October 2017 to see as many as 400 workers transferred from the former cellphone giant to Ford to accelerate the latter’s research and development, especially in the areas of telecommunications and software.</b></div>
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The announcement was part of a larger $1-billion investment Ford is pouring into its Canadian facilities. The federal and provincial governments also provided as much as $102.4 million in funding.</div>
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The move allowed Ford to create what it’s calling connectivity and innovation centres in Ottawa, Waterloo and Oakville. When the Ottawa office opened in March 2018, Ford had about 150 employees here. Today there are more than 300.</div>
<figure class="wp-caption post-img size_this_image_test align-center" id="attachment_" itemid="photo url" itemprop="associatedMedia" itemscope="" itemtype="https://schema.org/ImageObject" style="background-color: white; border: 0px; color: white; float: none; font-family: BentonSans-Regular, Arial, Helvetica, sans-serif; font-size: 15px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px auto 15px; max-width: 100%; overflow: hidden; padding: 0px; vertical-align: baseline; width: 1000px;"><img height="518" scale="2" src-orig="https://postmediaottawacitizen2.files.wordpress.com/2019/06/ottfordjune7.jpg?quality=55&strip=all&w=640" src="https://postmediaottawacitizen2.files.wordpress.com/2019/06/ottfordjune7.jpg?quality=55&strip=all&w=691" srcset="https://postmediaottawacitizen2.files.wordpress.com/2019/06/ottfordjune7.jpg?quality=55&strip=all&w=691&zoom=2 2x" style="border: 0px; display: block; font: inherit; height: auto; margin: 0px; max-width: 100%; padding: 0px; vertical-align: baseline; width: 690.759px;" width="691" /><figcaption class="wp-caption-text wp-caption" style="background: rgb(12, 12, 12); border: 0px; font: inherit; margin: -1px 0px 0px; padding: 10px; text-align: right; vertical-align: baseline; zoom: 1;"><div style="border: 0px; font-family: BentonSans-Medium, Arial, Helvetica, sans-serif; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 18px; padding: 0px; text-align: left; vertical-align: baseline; word-break: break-word;">
<span class="img-caption" style="border: 0px; font: inherit; margin: 0px; padding: 0px 10px 0px 0px; vertical-align: baseline;">Ford Connectivity and Innovation Centre at 700 Palladium Drive in Ottawa June 6, 2019.</span> <span class="img-author" style="border: 0px; color: #8c8c8c; font-family: Shift-MediumItalic, Georgia, Times, "Times New Roman", serif; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: normal; letter-spacing: 2px; line-height: 14px; margin: 0px; padding: 0px; text-transform: uppercase; vertical-align: baseline;"><span itemprop="creator" style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">TONY CALDWELL</span> /<span itemprop="copyrightHolder" style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">POSTMEDIA</span></span></div>
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“We can’t disclose what our ambitions are because they are predicated by many planning elements. But the fact that we are moving into another building, even bigger than this one, tells you that we are very ambitious,” said Zoltan Racz, chief engineer at the connectivity and innovation centres in Ontario.</div>
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The wealth of technology talent Ford found in the nation’s capital is pushing it to accelerate its plans for the offices here, he added. “That’s phenomenal. It’s a hidden gem. There is a massive and very valuable talent pool. That’s highly unique to Ottawa. It used to be, and still is, the telecom and datacom capital of Canada.”</div>
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Ford’s offices at 700 Palladium Dr., right next to the Canadian Tire Centre, have taken over 40,000 square feet of space, and the company has secured 20,000 square feet across the street at 770 Palladium Dr. to facilitate further expansion.</div>
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The company has also signed a deal with real estate firm Cominar for 62,000 square feet in a building now under construction at 800 Palladium Dr. Initially Ford had only expressed interest in 40,000 square feet in the building, which is expected to be completed in 2020. Cominar said Ford planned to add as many as 300 more jobs with the addition of the new space, doubling its Ottawa workforce.</div>
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Ford wouldn’t comment on exact staffing numbers, or provide specifics about whether it planned to move from 700 and 770 Palladium Dr. when the new facility is completed.</div>
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The company is using its Ottawa offices to spearhead research and software development to power new cellular antenna technologies, which are expected to be standard features on Ford vehicles. The antennas, which will be installed on the 2020 Explorer, allow the vehicle to effectively have its own cellular connection to facilitate sending and receiving data, phone calls, diagnostic information and maintaining connection anywhere there is 4G (LTE) cellular service.</div>
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The company is also researching next-generation 5G cellular technologies for future models.</div>
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The large contingent of employees who came to Ford from BlackBerry QNX, which builds the operating system for Ford’s vehicles, allowed the company to more easily build the newest version of its Sync 3 infotainment system.</div>
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The system, which allows drivers to quickly navigate between various functions — including satellite radio, navigation systems, climate control and even voice-activated features — is the first to be built by Ford. The automaker said its Ottawa offices played a key role in building and testing the system, which will be rolled out in 2020, starting with the Explorer.</div>
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While opening the new office has sparked a bright spot for Ford, it has also created headaches for BlackBerry. A class-action lawsuit against BlackBerry has been filed on behalf of the nearly 400 employees who were transferred to Ford, alleging the employees lost their severance entitlements after being transferred.</div>
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article courtesy of <a href="https://ottawacitizen.com/news/local-news/ford-finally-takes-the-wraps-off-its-ottawa-offices-now-employs-more-than-300-people-here">Ottawa Citizen</a> online</div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-10520634462973667702019-06-05T21:37:00.001-04:002019-06-05T21:37:08.429-04:00Blossoming Condo Market Bolsters May Resales<div dir="ltr" style="text-align: left;" trbidi="on">
OTTAWA, June 5, 2019<br />
Members of the <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board sold 2,423 residential properties in May through the Board’s Multiple Listing Service® System, compared with 2,271 in May 2018, an increase of 6.7 per cent. May’s sales included 1,869 in the residential property class, an increase of 4.6 per cent from a year ago, and 554 in the condominium property class, an increase of 14.2 per cent from May 2018. The five-year average for May unit sales is 2,167.<br />
<br />
“Despite the continuous freefall of inventory levels, we still have a higher sales volume than this time last year,” observes Dwight Delahunt, <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board’s President. “Wellpriced and positioned properties are turning over quickly with residential days on market declining an average of 28 days compared to 34 days last May and a whopping 33 per cent decrease for the condominium market from 46 days to 31 days.”<br />
<br />
“Condo sales are bolstering the resale market, up 14 per cent from a year ago, and are providing an excellent opportunity for those wishing to enter the market or are ready to downsize,” he adds.<br />
May’s figures show the average sale price for a condominium-class property was $297,731, an increase of 5.8 percent from last year while the average sale price of a residential-class property was $493,691, a rise of 6.4 per cent from a year ago. Year to date numbers show a 6.6 per cent and 7.9 per cent increase in average prices for residential and condominiums respectively.<br />
<br />
“Home prices are steadily increasing at a reasonable rate, and the fact that they are not spiking confirms that our market is healthy and sustainable,” Delahunt points out. “Although we hear about extreme multiple offer situations, the fact is, 62 per cent of homes are still selling at or below asking.”<br />
<br />
“Certainly, there are 15 per cent more listings selling above asking compared to this time last year, but these are restricted to particular pockets of the city. There are still many opportunities for those who want to find an affordable property. This is where the knowledge and experience of a REALTOR® will serve you well. They understand <a href="http://bennettpros.com/">Ottawa’s neighbourhoods</a>, market trends, and property values and can efficaciously guide you in your home sale or search,” Delahunt advises.<br />
<br />
The $350,000 to $499,999 price range was the most active price point in the residential market, accounting for 42 per cent of May’s transactions while 28 per cent of residential sales were in the $500,000 to $749,999 range. The most prevalent price point in the condominium market, which had increased to the $225,000-$349,999 price range two months ago, accounts for 57 per cent of the units sold. </div>
Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-2028332530432560262019-05-29T18:34:00.004-04:002019-05-29T18:34:46.610-04:00City of Ottawa - Rental Accommodations Study<div dir="ltr" style="text-align: left;" trbidi="on">
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Be aware Landlord Licensing maybe coming</div>
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This is an e-mail received from a city counselor's office, for all Landlords and investors who are available we recommend you attend:</div>
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Our office wanted to let you know that public consultations for the Rental Accommodations Study have now been announced! This is a chance for people to have a say regarding Air B&B, student housing, 'bunkhouse' developments, and landlord licensing.</div>
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Unfortunately, very little notice has been provided by the <a href="http://bennettpros.com/">City of Ottawa</a>'s consultants: the first public consultation (on student housing and bunkhouses) takes place THIS Monday, May 27th, across the street from Billings Bridge (600-1355 Bank St). The second consultation, on short-term rentals (e.g. Air B&B), will be taking place the following day, May 28th, at the Heron Road Community Centre (1480 Heron Rd). Please register for either with Maclaren Municipal Consulting by email at rentalhousingstudy@gmail.com</div>
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If you are unable to attend the public consultations in person, there is also an online survey for each theme (they only take a minute!):</div>
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More information, including the full list of consultations ('workshops'), is available :</div>
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https://ottawa.ca/en/city-hall/public-engagement/projects/rental-accommodations-study</div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-32666266254046155882019-05-04T20:19:00.003-04:002019-05-04T20:19:46.262-04:00April resale market is a "Catch-22"<div dir="ltr" style="text-align: left;" trbidi="on">
OTTAWA, May 3, 2019<br />
Members of the
<a href="http://bennettpros.com/">Ottawa Real Estate </a>Board sold 2,032
residential properties in April through the
Board’s <a href="http://bennettpros.com/">Multiple Listing Service</a>® System,
compared with 2,024 in April 2018, an
increase of 0.4 per cent. April’s sales
included 1,594 in the residential property
class, on par from a year ago, and 438 in the
condominium property class, an increase of
5.3 per cent from April 2018. The five-year
average for April unit sales is 1,825.<br />
<br />
“The story hasn’t changed throughout
this spring – our market is clearly
suffering from low inventory, and we
predict these conditions will persist
until supply is restored,” states Dwight
Delahunt, President of the <a href="http://bennettpros.com/">Ottawa RealEstate</a> Board.<br />
<br />
“Several factors continue to have an
impact in this regard including the lag
in new construction coming to market
and the reluctance of potential sellers
who are facing limited options when they
are buying within the same market. Add
to this a stress test for buyers, that can
limit purchasing capacity in a market
where prices are accelerating, and it
becomes a “Catch 22” situation for the
foreseeable future.”<br />
<br />
“Residential supply is down 18%, and condo
inventory is down almost 40% from last April.
Despite this tight supply, the residential
market is holding its own and the increase
in unit sales is effectively coming from the
condo market which until recently, was in a
surplus,” he notes.<br />
<br />
The average sale price of a residential-class
property sold in April in the Ottawa area
was $488,729, a rise of 7.4 per cent over
April 2018. The average sale price for a
condominium-class property was $307,659,
an increase of 14.3 per cent from this month
last year. Year to date numbers show a 6.6
per cent and 8.7 per cent increase in average
prices for residential and condominiums
respectively. <br />
<br />
“An active market with limited supply is
inherently going to put an upward pressure
on prices,” Delahunt explains. “However, this
bodes well for the condo market by which the
absorption is allowing for the rebounding and
recovery of its price points.”<br />
<br />
“Certainly, the stunted supply is likely
responsible for the multiple offer situations
we are experiencing, but the reality is that
while approximately one-third of properties
are selling above asking, more than 50% are
still selling below the listed price.”
“Ottawa is a stable and affordable market
and has been since the 1940s – we are not
in a bubble,” Delahunt emphasizes.<br />
<br />
The increased $350,000 to $499,999 price
range has now become the most active price
point in the residential market, accounting for
44 per cent of April’s transactions. Also worth
noting, 28.5 per cent of residential sales were
in the $500,000 to $749,999 range up from
23-25 per cent previously. The most prevalent
price point in the condominium market which
had increased to the $225,000-$349,999 price
range last month, remains so, accounting for
46 per cent of the units sold.
“The increase in price points are indicative
that availability in the lower priced housing
stock is just not there and is pushing
people up to the higher end of the market.
Nevertheless, the fact is, these price points
are still well under the Canadian average,
and our residents tend to be in comfortable
financial situations due to secure
employment and a thriving local economy,”
Delahunt concludes.</div>
Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-45269090236517656072019-04-03T16:46:00.002-04:002019-04-03T16:46:40.564-04:00A Slow March into Spring Market for Ottawa Real Estate<div dir="ltr" style="text-align: left;" trbidi="on">
OTTAWA, April 3, 2019<br />
Members of
the <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board sold 1,511
residential properties in March through the
Board’s Multiple Listing Service® System,
compared with 1,654 in March 2018, a
decrease of 8.6 per cent. March’s sales
included 1,136 in the residential property
class, a drop of 12.4 per cent from a year
ago, and 375 in the condominium property
class, an increase of 5 per cent from March
2018. The five-year average for March unit
sales is 1,402.<br />
<br />
“Lack of inventory is responsible for March’s
deficiency in residential unit sales,” states
<a href="http://bennettpros.com/">Ottawa Real Estate </a>Board’s President,
Dwight Delahunt. “This tightness of supply
is manifesting in significant reductions in
DOMs (days on market) and properties
selling very quickly. Residential DOMs are
down 14%, and condo DOMs are down 36%
from last year.”<br />
<br />
“In some pockets of the city, buyers are facing
multiple offer situations, and properties are
often selling over list price. These dynamics
of low inventory, reduced days on market, and
multiple offers are signs of a seller’s market
in these areas. While a benefit to those
sellers, it’s stressful and time consuming
for buyers. The experience and guidance of
a REALTOR® is essential in these types of
market conditions,” he adds.<br />
<br />
“A major factor contributing to the lack of
housing stock is the shortage of quality
options for those who might list their homes.
Move-up sellers feed the market for first-time
home buyers. Another issue which adds to a
seller’s reluctance to put their home on the
market is the B-20 stress test which affects
their purchasing power,” Delahunt asserts.<br />
<br />
“In Ottawa, we have a population base that’s
increasing year over year with a growth rate
of 8.8 percent, which is higher than Ontario
(5.7%) and Canada as a whole (5.9%).
Immigration and high employment levels
are bringing residents to our desirable and
affordable city,” he suggests.
Delahunt continues, “With high demand
and limited supply, prices will continue to
be pushed upwards – it’s a simple and
fundamental economic principle. Although
we appreciate the recent measures the
federal government has taken towards
affordable home ownership, all three levels
of government need to work together at
implementing mechanisms that will also
restore the supply side of the market.”<br />
<br />
The average sale price of a residential class property sold in March in the Ottawa
area was $480,143, a rise of 7.2 per cent
over March 2018. The average sale price
for a condominium-class property was
$290,181, an increase of 5.2 per cent from
this month last year.*<br />
<br />
The $300,000 to $449,999 price range
continued to represent the most active price
point in the residential market, accounting
for 43 per cent of March’s sales while 1 in
4 residential sales was in the $500,000 to
$749,999 range. The most prevalent price
point in the condominium market increased
to the $225,000-$349,999 price range,
accounting for 49 per cent of the units sold.<br />
<br />
“The condo units in the entry-level range are
near depletion as first-time home buyers are
trying to get into the market at the lowest
possible price. Moreover, previous renters
may have been pushed into condo ownership
with rental vacancy rates in Ottawa at less
than 1%. If there were concrete incentives
for investors to purchase properties to
lease or develop purpose-built rentals - it
could certainly stimulate the rental market,”
Delahunt concludes.</div>
Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-65833337699184745612019-03-30T16:21:00.001-04:002019-03-30T16:21:31.320-04:00The 6 Best Props To Stage Your Home<div dir="ltr" style="text-align: left;" trbidi="on">
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<img alt="best-props-to-stage-your-home" scale="0" src="https://kikiinteriors.com/wp-content/uploads/2015/05/pinterest-graphic-6-best-staging-props.png" style="border: 0px; box-sizing: border-box; height: auto; max-width: 100%; vertical-align: middle;" /></div>
<div class="fully-exceprt-post fully-exceprt-post-single" style="background-color: white; box-sizing: border-box; color: #646464; font-family: Quicksand; font-size: 16px; margin: 30px 0px 0px;">
<div style="box-sizing: border-box; line-height: 24px; margin-bottom: 20px; margin-top: 20px; padding: 0px;">
<span style="box-sizing: border-box; color: #333333;">When it comes to home staging – yes, there are a number of items that must be removed from the home such as personal photos, collectibles and of course, excess or bulky furniture. But there are certain props that really enhance the look of the home regardless of the age or decor style.</span></div>
<div style="box-sizing: border-box; line-height: 24px; margin-bottom: 20px; margin-top: 20px; padding: 0px;">
<span style="box-sizing: border-box; color: #333333;">These 6 DIY props can add memorable details and welcoming feelings to buyers and just help to set the scene and really make your photos stand out from the other houses for sale.</span></div>
<h4 style="box-sizing: border-box; color: #453c34; font-family: "Amatic SC"; font-size: 30px; font-weight: 400; line-height: 20px; margin: 15px 0px;">
<span style="box-sizing: border-box; color: #333333;"><u style="box-sizing: border-box;">Books</u> –</span></h4>
<div style="box-sizing: border-box; line-height: 24px; margin-bottom: 20px; margin-top: 20px; padding: 0px;">
<span style="box-sizing: border-box; color: #333333;">Too many books in a <a href="https://www.amazon.com/dp/B01D1JER96/ref=asc_df_B01D1JER964844457?smid=ATVPDKIKX0DER&tag=shopzilla0d-20&ascsubtag=shopzilla_rev_17-20;14902755057654033553210070301008005&linkCode=df0&creative=395093&creativeASIN=B01D1JER96" rel="noopener noreferrer" style="background-color: transparent; box-sizing: border-box; color: #333333; outline: none; text-decoration-line: none; transition-duration: 0.3s;" target="_blank"><span style="box-sizing: border-box; font-weight: 700;">book case</span></a> (or piles of them in office spaces and bedroom) can look junky and sloppy .... to read the rest of this article, <a href="https://kikiinteriors.com/2015/05/best-props-to-stage-your-home/?fbclid=IwAR3-OcMqC1kZ5AEs1W5ErIs2DmiUK0GQIycbzyvuNPvkb8c5DmR5cTbM-gQ">please click here</a></span></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-76852370112356163712019-03-23T23:21:00.001-04:002019-03-23T23:21:30.966-04:00Ottawa to hit one million mark<div dir="ltr" style="text-align: left;" trbidi="on">
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Sometime before Canada Day, Ottawa’s population will hit one million.</div>
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That’s the best estimate of city planners, who are pumped by the prospect and preparing for the changes it will bring.</div>
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“After years of thinking about it, we are actually going to hit it this year,” says Stephen Willis, the city’s g<span class="s1" style="-webkit-font-smoothing: antialiased; border: 0px; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">eneral manager of planning, infrastructure and economic development</span>.</div>
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“It puts us in a different league of North American cities.”</div>
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One million is a critical mass that makes it easier to develop things associated with big cities, especially mass transit, Willis says</div>
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“You also get a base population that can support a lot more cultural activities, and sports and other things, because you have the population to attract the types of events that wouldn’t necessarily stop in a midsize city. They start pay more attention to us after a million.”</div>
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The city is consulting the public on a new official plan that will guide the city’s development for the next 25 years. And Ottawa’s multi-billion-dollar light-rail transit system, the biggest construction program in the city’s history, is being built.</div>
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<span style="font-size: 18px;">For the complete article, </span><a href="https://ottawasun.com/news/local-news/ottawa-hits-a-population-of-one-million-big-ideas-for-a-big-city/wcm/1544ca73-fbd5-48a6-a845-3493d3c4aca4?fbclid=IwAR0GJyJR82VQIkSTire16H7_RB39ZosjEaV5ci48Z_pq9IsahSQRE2GBlcg" style="font-size: 18px;">please click here </a></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-67789596751955219372019-03-20T15:57:00.002-04:002019-03-20T15:57:49.106-04:00Ottawa neighbourhood set for $50M renewal project<div dir="ltr" style="text-align: left;" trbidi="on">
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In the coming months, dump trucks, excavators, cement mixers and concrete blockades will be set up along a portion of North River Road and all two kilometres of Montreal Road between the Vanier Parkway and St. Laurent Boulevard.</div>
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The project will take two years and comes with a price tag higher than the big dig currently unfolding along Elgin Street, which is undergoing a similar revitalization along a 1.2-kilometre stretch at a cost of $36 million.<span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><br /></span></div>
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New water mains and sewers will be installed, electrical lines are expected to be buried in order to expand sidewalks. The road is being resurfaced. New community spaces and parks are to be added. Bike lanes, in the form of elevated cycling paths, will be constructed, creating a link between Vanier and Rideau Street to encourage commuters to bike downtown. As much as $400,000 has also been set aside for public art installations along the roadway.</div>
<span style="background-color: white; font-family: BentonSans-Regular, Arial, Helvetica, sans-serif; font-size: 15px;">After decades of what some residents consider neglect, Vanier is getting a complete overhaul. </span><br />
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<span style="font-family: BentonSans-Regular, Arial, Helvetica, sans-serif;"><span style="background-color: white; font-size: 15px;">To learn more about <a href="https://bennettpros.com/about/meet-the-team/">Ottawa real estate</a> and potential investment ideas, please reach out!</span></span><br />
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For the complete article, kindly <a href="https://ottawacitizen.com/news/local-news/its-vaniers-time-ottawa-neighbourhood-set-for-50m-renewal-project?utm_medium=Social&utm_source=Facebook#Echobox=1552137782">click here</a><br />
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-33227464908673980492019-03-20T15:48:00.003-04:002019-03-20T15:48:38.653-04:00NEW TOTAL NET WORTH PROGRAM<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">This program is designed to provide additional mortgage amount to customers with moderate incomes who have a </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">significant amount of verifiable liquid assets and strong credit scores. </span></div>
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<span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">Eligible for </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">Purchases, </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">Refinance or </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">Switch/Transfers</span></div>
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<b style="font-size: 12pt;"><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 14pt;">How does it work?</span></b></div>
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<span style="font-family: Cambria, Georgia, serif, serif, EmojiFont;">Borrower must have $1 in liquid asset for every $1 in mortgage </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">needed above their standard qualified mortgage amount. </span></div>
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<span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">For example, if a </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">customer qualifies for a $400,000 mortgage using </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">standard debt servicing ratios but requires a </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">mortgage of $950,000. They must have verified liquid </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">assets of $550,000 in addition to their down payment.</span></div>
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<span style="font-family: Cambria, Georgia, serif, serif, EmojiFont;"><span style="font-size: 12pt;">There is no Debt Service Ratio </span>calculated<span style="font-size: 12pt;"> if customer puts 35% down (65% Loan-to-Value).</span></span></div>
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<span style="font-family: Cambria, Georgia, serif, serif, EmojiFont;">For 20% down payment (80% LTV), the Debt Service Ratio can be pushed to 60% (from standard max 44%). </span></div>
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<b style="font-size: 12pt;"><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 14pt;">What are the requirements?</span></b></div>
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<span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;"><span style="color: red;">▪</span> </span><span style="font-size: 12pt;"><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont;">Minimum liquid assets of $250,000 such as Canadian Stocks, Bonds, Mutual Funds, GIC, TFSA, ESOP and RRSP (discounted by 30% withholding taxes). Note </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont;">Locked-In accounts are not considered eligible assets.</span></span></div>
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<span style="font-family: Cambria, Georgia, serif, serif, EmojiFont;"><span style="color: red;">▪</span> 12 months history of ownership to show evidence the funds are on deposit at a Canadian Financial Institution.</span></div>
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<span style="font-size: 12pt;"><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont;"><span style="color: red;">▪</span> Equity in </span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont;">existing properties being sold with a firm </span></span><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 12pt;">purchase & sale agreement are eligible as liquid asset.</span></div>
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<b style="font-family: Cambria, Georgia, serif; font-size: 12pt;"><span style="font-family: Cambria, Georgia, serif, serif, EmojiFont; font-size: 14pt;">Eligible Properties</span></b></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-44700193234485240682019-03-06T08:29:00.003-05:002019-03-06T08:29:34.774-05:00NEWS RELEASE - February Buyers Snap Up Limited Inventory<div dir="ltr" style="text-align: left;" trbidi="on">
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<b style="box-sizing: border-box;"><i style="box-sizing: border-box;">OTTAWA, March 5, 2019</i></b> - Members of the <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board sold 1,005 residential properties in February through the Board’s Multiple Listing Service® System, compared with 978 in February 2018, an increase of 2.8 per cent. February’s sales included 756 in the residential property class, a rise of 3.8 per cent from a year ago, and 249 in the condominium property class, a decrease of 0.4 per cent from February 2018. The five-year average for February sales is 949.</div>
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“February has been a strong month, and with year-to-date unit sales 8% higher in both the condo and residential categories, it is looking very favourable for the spring market,” states <a href="http://bennettpros.com/">Ottawa Real Estate</a> Board’s 2019 President, Dwight Delahunt.</div>
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“Days on market continue to decline, and although inventory has fallen to its lowest level in many years, we are still managing to satisfy demand even with 900 fewer listings than this time last year,” he adds. “If we had more supply, our unit sales would be even greater.”</div>
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The average sale price of a residential-class property sold in February in the Ottawa area was $466,540, an increase of 8.6 per cent over February 2018. The average sale price for a condominium-class property was $288,354, an increase of 5.6 per cent from this month last year.*</div>
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“The <a href="http://bennettpros.com/">Ottawa real estate </a>market is well ahead of inflation in regards to average prices for both condo and residential properties. We are in a comfortable position and remain one of the most affordable markets in the country,” Delahunt points out.</div>
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The $300,000 to $449,999 range continued to represent the most active price point in the residential market, accounting for nearly 44 per cent of February’s sales while 26 per cent of residential sales were in the $500,000 to $750,000 price range. Between $175,000 to $274,999 remained the most prevalent price point in the <a href="http://bennettpros.com/">Ottawa condominium </a>market, accounting for 48 per cent of the units sold.</div>
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“If you are thinking about selling, don’t wait - get a jump on the spring market! Now is the time to have a conversation with your REALTOR® who understands the best way to position your home in the market and has the experience to guide you through its complexities,” Delahunt suggests. “This is the type of market you certainly wouldn’t want to navigate without one.”</div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-80478229431868887042019-02-28T18:31:00.001-05:002019-02-28T18:31:08.851-05:00Ottawa's new film and television sound stage clears another hurdle<div dir="ltr" style="text-align: left;" trbidi="on">
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The rezoning of government land, to make way for a massive film and television sound stage campus and creative hub in <a href="http://bennettpros.com/">Ottawa</a> has been approved by the City of Ottawa's Planning Committee.</div>
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The complex, which will be located in the National Capital Commission's Greenbelt lands at 1740 Woodroffe Avenue, on 8.4 hectares that were formerly used as an animal research centre by Agriculture Canada, would create 500 jobs during construction and an estimated 500 full-time jobs when the film complex is operating.</div>
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The buildings planned for the film-television studio complex include four 20,000 sq ft worth of sound stages, workshops, production space, training space and office space for film, television and animation production companies.</div>
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The NCC Board of Directors approved the change to the Greenbelt use on Woodroffe Avenue, in part on the understanding that there would be compensatory measures.</div>
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That compensation is expected to come in the rezoning of 8.7 hectares of NCC land at 3798 Bank Street, formerly operated as the Capital Golf Centre -- a move also approved by the planning committee. This land would be allowed to return to its natural state.</div>
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The committee also approved zoning and Official Plan changes to allow the redevelopment of a 6.5-acre block of land in Little Italy owned by the Government of Canada.</div>
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This block, bounded by Rochester Street, Orangeville Street, Booth Street and Norman Street, located just south of the Queensway (known as <a href="https://bennettpros.com/little-italy/">Little Italy</a>), has a number of older laboratory and office buildings. Some of these buildings, known as the Booth Street Complex and built in the early 20th century, are recommended for designation under Part IV of the Ontario Heritage Act. The buildings in the area have been vacant for many years and the land is polluted by past industrial uses.</div>
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The new zoning would permit development of the remainder of the land, with high-rise buildings of mixed heights up to 25 storeys. The concept plan features green space, including a new City park. Instead of the existing surface parking lots, parking would be underground.</div>
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This new development, combining new and old buildings in a mix of residential, office and commercial space totalling one million square feet, will be managed by Canada Lands Company, which took control of the property from Natural Resources Canada in 2015.</div>
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The city committee believes this site is a prime opportunity for new building that fits the city's planning and development goals, as it is within 600 metres of two light-rail transit stations: Carling Station and the future Gladstone Station.</div>
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For the complete article, <a href="https://www.ottawamatters.com/local-news/ottawas-new-film-and-television-sound-stage-over-another-hurdle-1265808?utm_source=dlvr.it&utm_medium=facebook">please click here</a></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-88040010388731177312019-02-28T17:36:00.002-05:002019-02-28T17:36:53.118-05:00Innes Road strip mall opportunity<div dir="ltr" style="text-align: left;" trbidi="on">
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<tr class="d96m35" style="box-sizing: border-box; vertical-align: top;"><td class="d96m49" colspan="8" style="box-sizing: border-box; margin: 0px; overflow-wrap: normal !important; overflow: hidden; padding: 0px; width: 736px;"><span class="wrapped-field" style="box-sizing: border-box; white-space: normal;"><span style="font-family: Verdana, Geneva, sans-serif; font-size: 12pt;">Great opportunity to buy a modern stand alone building with generous income and <br />plenty of parking spots here at the desirable Innes Road corridor that continues to <br />rapidly develop. This future growth area offers fast access to Hwy 417 with a <br />relatively quick commute to the city center. Located in a high traffic area near the <br />intersection of Tenth Line Road in <a href="https://bennettpros.com/orleans/">Orleans</a>. This beautiful two-story retail/office <br />building is ideal for retail, office/s or a medical/dental facility, superb curb appeal, <br />perfect investment for the owner-occupant or arm chair investor. Projected rental <br />income for vacant space.</span></span></td></tr>
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<span style="background-color: white; font-family: Verdana, Geneva, sans-serif; font-size: 12pt;">The upper level is Tenanted with great income, the main level & basement is currently vacant, this property is also listed for Lease. Note: projected rental income for vacant state.</span><br style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: small;" /><br style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: small;" /><br style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: small;" /><span style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: x-small;">Click the following link to view the MLS</span><span style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: x-small;"> Listing:</span><br style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: small;" /><a href="https://oreb.mlxmatrix.com/DE.asp?k=4117668NbXG&p=DE-27360690-701" id="LPlnk300152" previewremoved="true" style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: small;">https://oreb.mlxmatrix.com/DE.asp?k=4117668NbXG&p=DE-27360690-701</a><br style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: small;" /><br style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: small;" /><br style="background-color: white; font-family: Verdana, Arial, Helvetica; font-size: small;" /><span style="background-color: white; color: #212121; font-family: Verdana, Arial, Helvetica, serif, EmojiFont; font-size: x-small;">Click the following link to view the income report:</span><br style="background-color: white; color: #212121; font-family: Verdana, Arial, Helvetica, serif, EmojiFont; font-size: small;" /><a href="https://oreb.mlxmatrix.com/Matrix/Public/EmailReport.aspx?ID=95644804" id="LPlnk366205" previewinformation="1" previewremoved="true" rel="noopener noreferrer" style="background-color: white; font-family: Verdana, Arial, Helvetica, serif, EmojiFont; font-size: small;" target="_blank">https://oreb.mlxmatrix.com/Matrix/Public/EmailReport.aspx?ID=95644804</a><br style="background-color: white; color: #212121; font-family: Verdana, Arial, Helvetica, serif, EmojiFont; font-size: small;" /></div>
Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-49373899257794420002019-02-28T12:29:00.001-05:002019-02-28T12:29:08.291-05:00Westboro Four Plex<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="color: #02131d; font-family: Helvetica, Arial, sans-serif, serif, EmojiFont; font-size: 14px;">OPEN HOUSE Sat Mar 2 and SUNDAY MAR 3rd 2-4 PM. Turnkey fourplex located in the heart of <a href="https://bennettpros.com/westboro/">Westboro</a>. Never a vacancy! Conveniently located near the shops and cafes of Richmond Road and future LRT station. All units have been recently renovated and painted including kitchens and bathrooms. Newer flooring. Separate hot water tanks and hydro meters for each unit, plus a common HWT and hydro meter. Laundry facilities on premises. Set showing Thursday and Friday 12-2, Sat and Sun 2-4 Fire retrofit, survey, compliance report, and Recent Building Inspection report are available.</span></div>
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<span style="font-family: Verdana, Arial, Helvetica, serif, EmojiFont; font-size: x-small;"><br />Click the following link to view the MLS Listing:<br /><a href="https://oreb.mlxmatrix.com/DE.asp?ID=1386477533" id="LPlnk33524" rel="noopener noreferrer" target="_blank">https://oreb.mlxmatrix.com/DE.asp?ID=1386477533</a><br /><br /><span style="color: #212121;">Click the following link to view the financials:</span><br style="color: #212121;" /><a href="https://oreb.mlxmatrix.com/Matrix/Public/EmailReport.aspx?ID=95624423" id="LPlnk106855" rel="noopener noreferrer" target="_blank">https://oreb.mlxmatrix.com/Matrix/Public/EmailReport.aspx?ID=95624423</a></span></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-43364256302339596352019-02-26T22:04:00.000-05:002019-02-26T22:04:04.031-05:00Bells Corners BOOMing!!!<div dir="ltr" style="text-align: left;" trbidi="on">
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Chiarelli says Bells Corners has a geographical advantage: it’s at the confluence of Highways 416, 417 and 7. The majority of tourist traffic comes via those roadways, making hotels a strategic bet for development.</div>
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The creation of the Bells Corners BIA in 2009 helped to create a voice for the business community, and the city brought in a Community Improvement Plan, which incentivizes redevelopments by giving property owners a break on their future tax bills.</div>
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Chiarelli says he thinks it’s been one of the most successful such plans Ottawa has seen. One hotel, a Holiday Inn, is already up, and a Hilton Garden Inn and restaurant are slated to move into a brand-new development coming to 300 Moodie Dr.</div>
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“It’s made some tough business decisions a lot easier,” says BIA executive director Joe Varner of the plan.</div>
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But perhaps the biggest boon came in the form of an anchor employer to fill the hole – in this case, the 370-acre Carling Campus – that Nortel had left behind. Around a third of the anticipated 10,000 DND employees have already started work at their new campus, and both Varner and Chiarelli say Bells Corners is already feelings the perks.</div>
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Some homebuilders also appear to have a renewed interest in Bells Corners.</div>
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Chiarelli says he’s been in talks with a developer who is planning to construct some 2,000 residential units. If such a project moves ahead, it could dramatically increase the population of the community, which currently has 3,600 homes, according to Chiarelli.</div>
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Many seniors have expressed their wish to stay in the area, and the opportunity to occupy smaller condo-style units will make it easier for existing residents to stay in the community and free up single-family homes for young families to move in, says Chiarelli.</div>
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For the complete article, <a href="https://obj.ca/index.php/article/department-national-defences-arrival-sparks-building-boom-bells-corners">kindly click here </a></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0tag:blogger.com,1999:blog-8855802608829730585.post-38895474595479884452019-02-26T17:40:00.002-05:002019-02-26T17:40:18.850-05:00Insight and expertise, it was effortless...<div dir="ltr" style="text-align: left;" trbidi="on">
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<span lang="EN-US" style="font-family: Calibri, sans-serif, serif, EmojiFont;">I used Greg for a recent multi-unit purchase in Ottawa. The process was effortless and he walked us through all of the required steps prior to closing.</span></div>
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<span lang="EN-US" style="font-family: Calibri, sans-serif, serif, EmojiFont;">His insight and expertise in the industry was helpful in finding the perfect investment property.</span></div>
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<span lang="EN-US" style="font-family: Calibri, sans-serif, serif, EmojiFont;">I would recommend Greg and the Bennett Property Shop to anyone looking to sell or buy in the Ottawa market.</span></div>
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<span lang="EN-US" style="font-family: Calibri, sans-serif, serif, EmojiFont;">Thanks,</span></div>
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<span lang="EN-US" style="font-family: Calibri, sans-serif, serif, EmojiFont;">Gerard</span></div>
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Greg Blok, Broker, Bennett Property Shop Realty Brokeragehttp://www.blogger.com/profile/02965549540700417241noreply@blogger.com0