October 2023 Real Estate Newsletter

September was a slower month this year with less demand and more inventory. I noticed several price reductions for homes that weren’t getting any movement, a ton of new rental listings and limited motivation from buyers. Inflation numbers are back up and could potentially trigger another rate hike. For any buyer who is on the fence and waiting for rates and prices to drop – it won’t happen. There are loads of good deals out there right now and prices are slowly increasing. If you are looking to buy a home and close on it next year, there are a few new builder specials that I have access to. Contact me to find out what options are best suited to your needs.

What is a Foreclosure?

Foreclosure is the legal process through which a lender takes control of a property due to the owner’s failure to make mortgage payments. Initiated after a series of missed payments, foreclosure ultimately results in the sale of the property to recover the lender’s losses. The lender typically hires a realtor to list the home on MLS and is usually listed for fair or below market value.

Things to do in October

Sawmill at Landsdowne – A haunted attraction presented by Saunder’s Farm. It’s a story about a lost colony of millworkers hidden away under the South Side Grandstand of Landsdowne Park. A spooky discovery!  Visit TDplace.ca for more info.

Ottawa Senators– The Sens play several home games throughout the month of October. Check out their schedule by visiting www.nhl.com/senators/schedule.

Pumpkin Picking – Enjoy pumpkin picking at several different spots throughout Ottawa. Saunders Farm, Log Cabin Orchard, Miller’s Farm and Market – just to name a few. Support your local farms!

Neighbourhood Feature – Carp

Located West of Kanata, Carp is a small rural town with a population of approximately 2000 people. The town name is derived from the Carp River which runs through it. The Village area on the main street features a very popular café called Alice’s Café. A great place to grab a bite, and they also have live music on Thursday nights. The Carp Farmer’s Market, located across the street from Alice’s café, runs from May-October every year. Ridge Rock Brewery is a new gem the Village. It offers a variety of beers on tap and a great menu. The popular Diefenbunker is a site to see. It was a nuclear bunker built in the 50’s but has since become open to the public as a museum. Plan a day trip to Carp and see everything it has to offer!
 

Did You Know?!

If you list your home with the Mero Sells Homes Team, you get a full-service marketing plan that includes maximum exposure online, professional photography and video, a detailed staging consultation with Maddie Clarke Interiors, and more! Contact me today to setup a free, in-person consultation to see what your home is worth!

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!

613 262 5810
mero@merosellshomes.com
www.merosellshomes.com