March 2023 Real Estate Newsletter
Wednesday Mar 15th, 2023
The Ottawa Real Estate market seems to be in a holding pattern. Inventory remains roughly the same as the previous month and buyers are waiting for rates to drop – which will not happen for the foreseeable future. New construction builders have slashed their prices – $100,000 off the list price in many cases!! – They are offering several incentives to get the inventory sold. If you are a buyer who is on the fence, you should be taking advantage of the current market. Don’t let the high interest rates scare you, this is a temporary situation. Lock in a fixed rate for 2-3 years, buy at a discount and renew your rate when the time comes. By the time 2-3 years rolls around, you will have built plenty of equity in your home and be in a position to upgrade if you should choose to do so. Start by getting pre-approved today. Contact me to get started!
Condominium Common Elements
What are Common Elements?
Common elements are the shared spaces in and around your condo building that are owned together by all unit owners in the building. A few examples would include the lobby, hallways, elevators, stairs, laundry rooms, outdoor green space, indoor and outdoor pools. The monthly condo fees typically cover the maintenance and repair costs of these common areas.
Things to do in March
67’s games – Watch a 67’s game at TD place! They play 6 home games throughout the month of March. Visit https://www.tdplace.ca/upcoming-events/ for tickets.
Neighbourhood Feature – Crystal Beach
Crystal Beach is a small family-friendly community located in the west end of Ottawa. Primarily developed in the 1950-1960’s by Minto, you will find a variety of bungalows, large townhouses, split levels, and waterfront homes. Andrew Haydon Park, Dick Bell Park, the Nepean Sailing Club, and the Ottawa river are all in proximity, making Crystal Beach a well desired area. The Bayshore Shopping Centre is a few minutes away along with a Cineplex movie theatre, several fast-food restaurants, small shops, and businesses, and more – all on the main drag of Carling Avenue. Nearby schools include Bayshore Public School and Lakeview Public School. Home prices in the area range from $700,000 to well over a million dollars for waterfront. If you are looking for an older home in a well-established neighbourhood, I would highly recommend checking out Crystal Beach!
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!