Staying in Touch – November 2022 Newsletter

Staying in Touch – November 2022

To read the full issue of Staying in Touch – November 2022

Happy November!Staying in Touch - November 2022 Newsletter

Everything can sure change quickly, more properties for sale, interest rates, our investments and the housing market.

Ottawa was certainly noticed by many buyers in the last couple of years, now we are back to our more traditional market. Typical Ottawa price gains were 3 to 5 percent up until 2020, see the average price increases in Ottawa. Keep in mind we have also had similar interest rates in the past 2 decades.

All this being said, by the media too, remember we all need a place to live and real estate does offer security. If you can purchase a home in the same market as you’re selling, then there is a balance. You will also have more confidence to purchase as you can take more time to review a number of houses, have the opportunity to get a building inspection and consider your financing options and budget. Reviewing your financing options and understanding your pre-approval is key, i.e. are their any conditions to the pre-approval? As the market changes, banks and lenders are getting more detailed.

On the selling side, preparation of your house is important and that is where we can help you get ready for the 2023 market. We have the necessary experience to guide you.  Many of our clients have congratulated us on the advice we have given them for showing their homes at their best and helping them one step at a time to get ready. Overall buyers and sellers are taking their time, building their confidence to buy or sell.

This month we’ve included: mortgage news on financing approval, some tips on what to watch for when viewing an older home, closing day preparations, the effect of trees on the value of your property & some tips on how to update your kitchen. There are also many great events you can take part in like the National Remembrance Day Ceremony ,Crave Food & Wine Festival , One World Bazaar and more.

In the community we thank and honour our veterans and first responders. Learn more about Wounded Warriors Canada. We are also excited to support a second minor hockey team U14 AA Kanata Blazers and wish them the best for a great season!

We would love to hear from you, please feel free to call or send us an email with any questions.

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Joan, Victoria and Luc

Insta @JoanSmithRealEstateFamily

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