January 2024 Real Estate Newsletter
Thursday Feb 01st, 2024
The new year is finally here! 2023 ended strong with a 7.6% increase in sales over December 2022. Average home prices also went up by 1.7%. It appears buyer confidence is slowly returning. Interest rates are speculated to head downwards by mid 2024. I am noticing a lack of inventory in several areas of town. If you are planning to sell in the spring, you may want to consider listing now as the competition will be less. If you would like to know what your home is worth, I offer a free in-person home evaluation. During this evaluation, I also go over my marketing plan and the whole selling process step-by-step.
Please reach out to me as soon as possible so we can get started on planning your home sale!
What is a PRE-INSPECTION?
A pre-inspection is essentially a home inspection that is conducted prior to a home going on the market. The inspection typically focuses on looking for any major defects and a condensed report is provided rather than a full report. The purpose of a pre-inspection is to address any issues and provide a report to the new buyer.
Things to do in January
Professional Women's Hockey League – The all new PWHL league created in 2023, starting with 6 franchises which include Ottawa. Watch them play at TD place for the month of January. Tickets are on sale at tdplace.ca.
Ottawa Home and Remodelling Show – Visit the EY Centre from January 18-24 for the 8th annual show featuring 200 exhibitors and HGTV’s Bryan Baeumler. Visit www.ottawahomeandremodellingshow.com for more details.
Ottawa Senators – The Senators play several home games for the month of January. Don’t miss out, get your tickets online at ticketmaster.ca.
Neighbourhood Feature – Bridlewood
Bridlewood is a community in Kanata South, located west of Ottawa. The approximate population is roughly around 24,400 according the 2016 census. Most of the homes here are detached and built starting from the mid 1970’s. Several schools are in the area including Catholic and French schools. The neighbourhood also boasts two community centres and an impressive nine outdoor rinks in the winter. The main spoken language is English, while French and other languages are a small minority. Home prices range from $550,000-$800,000 for a freehold townhouse or small detached home. Bridlewood is a well established, safe and affordable community for any family.
Did You Know?!
If you are buying a home with the intention of flipping it, your profit on the sale might be taxed as business income. Previously, the profits from a disposition of property were taxed as capital gains. The new changes came into effect January 1st, 2023. For more information, visit The Canada Revenue Agency Section at Canada.ca or consult a tax professional.
As always, it would be my pleasure to assist you, your friends and family with any Real Estate needs. Please don’t hesitate to reach out with any questions!