11 Apr Staying in Touch – April 2023 Newsletter
Staying in Touch – April 2023
To read the full issue of Staying in Touch – April 2023
Happy Easter and Spring!
Sometimes we have to remember to stop and smell the roses or tulips, as time does fly by quickly. As each season finishes and another begins the real estate market also changes.
The spring has always been an exciting time in real estate and it usually sets the tone of the market for the year. We can see that the market is picking up, more homes are being listed for sale and buyers are interested in looking at homes.
The comments from CMHC saying how many homes that will be needed by 2030 to restore affordability is unbelievable. CMHC anticipates over 22 million housing units will be needed by 2030 and Ontario projects 1.5 million new homes will be needed in the province over the next decade. Ottawa has committed to 151,0000 new homes per year by 2031.
We encourage buyers to purchase soon even if the property does not have every single feature on your wish list. Although prices have generally come down from the peak of February and March last year, we have started to see some price increases, see the market update below. Time will allow you to build equity on the property, especially if you make any improvements. Keep in mind that you may be able to build the cost of an improvement into your mortgage.
We often forget how little things mean a lot and certainly in real estate we must organize ourselves when buying and selling a home. Making a list to follow saves time and makes the process less stressful! Read our blog Detail is Important in Everything We Do in Real Estate.
Gathering information in real estate is like finding puzzle pieces, not much good until you know how to put those pieces together. If you have any questions on market value in your neighborhood, what improvements to make if your thinking of selling, options regarding later closing dates and first refusal offers, we would be happy to discuss with you.
This month we’ve included:
- Update on the Ottawa market and Mortgage information on Purchase Plus Improvements Program
- Articles on: Spring Cleaning: Tips to Refresh Your Home, Detail is Important in Everything We Do in Real Estate, and Reacting to Offers
- Market news and Upcoming community events including Easter activities in the Ottawa area
Looking forward to seeing you soon.
Joan, Victoria & Luc
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