Contact Information
Jody Lavoie Real Estate Broker Royal LePage Team 11-2900 Woodroffe Ave. Nepean, ON, K2J 4G3
Office: 613-825-7653 Fax: 613 825 8762
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Resale Housing Sales Have Another Record Month in June
Members of the Ottawa Real Estate Board sold 1,895 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,685 in June 2008. This is an increase of 12.5 per cent. Listing inventory is at a very low level, which has led to competitive bidding on many properties... Read More... Courtesy of The Ottawa Real Estate Board
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Here's Some Essential Reading if You're Planning on Buying a Home
For 60 years, mortgage-loan insurance from Canada Mortgage and Housing Corporation has been helping Canadians, especially younger Canadians, with home-affordability challenges. If you're considering a real estate purchase, do some research first. There's not too much the national housing agency doesn't know, or hasn't investigated, about the rights and wrongs of home ownership, in other words... Read More... Courtesy of Canada.Com
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How Canada Escaped U.S.-Style Housing Woes
On our first morning in Denver, the cover story on the front page of USA Today was "Mortgage crisis robbing seniors of golden years" and it spoke of the growing number of seniors facing or experiencing foreclosure on their properties. Thankfully, foreclosures are a rarity in Canada thanks to cultural, regulatory and market differences... Read More... Courtesy of The Star
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Rideau Street's 'Renaissance' a Work in Progress
The rebirth of Ottawa's Rideau Street has begun. More people are living and shopping on the street, and sellers of quality goods are starting to return. So far, the biggest change has been the construction of two luxury apartment towers, one on each side of the street, steps from the ByWard Market and the Rideau Centre. Now, the retail space at the base of these apartment buildings is starting to fill... Read More... Courtesy of The Ottawa Business Journal.
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Home Builders Cut Prices to Spur Sales
Price cuts, free upgrades and other incentives appear to be resuscitating the market for new homes in Canada, the Canadian Home Builders' Association said Wednesday after Statistics Canada reported that contractors' selling prices were down 3 per cent overall in April from a year earlier. Measured against last year's overheated market, the price reductions were steepest in Western Canada... Read More... Courtesy of The Globe and Mail
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First-Timers Key to Reviving Market
The expected return of first-time homebuyers to the marketplace is seen as key to the rejuvenation of Canada's housing sectors, says a real estate industry executive. A growing number of newbies to home ownership-- considered the largest single buying segment--have been sitting on the sidelines since it became obvious Canada wasn't going to avoid the global recession, says Phil Soper, president and CEO of Brookfield Real Estate Services... Read More... Courtesy of The Calgary Herald
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Confidence in Housing Market a 'Good Sign': Economist
Despite a stream of negative economic news, most Canadians who've recently bought a home have confidence in their decision, according to a survey by the Canada Mortgage and Housing Corporation. A national consumer survey released Tuesday said 90% of recent home purchasers believed that a house is a good long-term investment. Almost 70% of respondents also said they felt that this is a good time to buy a home... Read More... Courtesy of The National Post
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Long-Term Mortgage Rates on the Rise
Soaring bond yields have set the stage for a second round of interest rate hikes on residential mortgages in about a week. After nudging rates higher on longer-term mortgages last Wednesday, Toronto-Dominion Bank yesterday raised borrowing costs on its five-year, fixed-rate loan by 40 basis points to 5.85 per cent, effective today... Read More... Courtesy of The Star
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The Perfect Mortgage?
The perfect mortgage is, of course, no mortgage at all. So, the next best thing is to have one flexible enough to pay off the principal as fast as possible. All mortgages are structured so payments in the early years are primarily interest charges: Very little principal is shaved off unless you make sure payments are high enough and frequent enough that a good chunk is going straight to principal... Read More... Courtesy of The National Post
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Residential Construction on Rise, an Upbeat Sign
Residential construction in Canada increased in May, yet another positive development for the housing market. Housing starts across the country rose more than 9 per cent in May to 128,400, seasonally adjusted and at an annual rate, from 117,600 in April. “This morning's housing starts data for May from CMHC provided us with the first sign that a bottom might be forming in Canadian home building activity,” said Toronto-Dominion Bank economist Pascal Gauthier... Read More... Courtesy of The Globe and Mail
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Record Ottawa Home Sales in May Propelled by Freehold Market
Ottawa realtors reported the "best May on record" for sales of existing homes, despite a drop in the condominium market, according to data released Wednesday by the Ottawa Real Estate Board. Total sales rose 3.9 per cent year-over-year to 1,969 units, solely on the strength of the freehold segment, which saw a 6.2-per-cent increase to 1,621 units... Read More... Courtesy of The Ottawa Business Journal
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First-Timers Back on the Hunt for Houses
When first-time buyers fled the housing market last fall, they took the broader buying market with them. Now that lower interest rates and prices have lured some of them back into buying mode, there are signs of a broader recovery beginning. Royal Lepage Real Estate Services surveyed potential first-timers, to learn what would convince them to buy... Read More... Courtesy of The National Post
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Five Banks Raise Mortgage Rates
Canada's biggest banks are hiking key mortgage rates at time when the bond market is worried about risk and the longer-term threat of inflation. Royal Bank of Canada, Bank of Montreal, Toronto-Dominion Bank, the Bank of Nova Scotia and Canadian Imperial Bank of Commerce are all increasing their posted rates on five-year, fixed-rate mortgages by 0.2 per cent to 5.45 per cent... Read More... Courtesy of The Star
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Green Energy Act Could Create 90,000 “Green” Jobs, Report Concludes
Ontario’s green sector could produce 90,000 well-paid jobs with energy investments under the province’s Green Energy Act, according to a recent report released by WWF-Canada, the Green Energy Act Alliance and Blue Green Canada. By spending $47.1 billion over 10 years, the report concludes that about 90,000 “green-collar” jobs... Read More... Courtesy of Daily Commercial News
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National Research Council Study Tracks Insulation Energy Costs
Canada consumes more energy per capita than most countries because of its northern climate and by default, it makes choosing effective building insulation materials critical. A new National Research Council study aims to quantify the total energy impact of a wide range of insulating materials to help builders and designers make the most environmentally-informed choices possible... Read More... Courtesy of Daily Commercial News
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