August 2024 Newsletter
Join us for an August recap and some insights into the fall market!
Matt at Inman
Matt enjoyed his fourth year as an Inman Ambassador this year at Inman Connect in Las Vegas! He was able to listen to some amazing speakers from all across North America talk about the market, new innovations to the business, and more.
RE/MAX Hallmark Golf Tournament
Some of the team competed in the RE/MAX Hallmark Golf Tournament this August - with Luke’s team bringing the trophy home!
The Ottawa Fall Home Show - Free Tickets!
Interested in attending the Fall Home Show for free? Taking place this September 26th-29th at the EY Centre, the home show offers all kinds of shopping and live demonstrations! We have a number of free tickets to give away - email us back here or contact your agent to arrange pick up or drop off!
Real Estate News
Interested in hearing more from our agents about real estate? Let’s dive into some of our top blog posts this month:
What You Need to Know About the Bank of Canada's Latest Announcement
The Bank of Canada has lowered the overnight rate, reducing payments and increasing cash flow for those with variable-rate mortgages and HELOCs. Fixed-rate mortgages, driven by bond yields, did not see the same changes. If you're a homeowner or planning to buy, review your mortgage terms and assess how this shift could have impacted your finances. For expert advice, reach out to Liane Moskal at KeyRate.
Top 5 Mistakes First-Time Homebuyers in Ottawa Make (And How to Avoid Them)
Buying your first home in Ottawa is an exciting milestone, but it’s easy to make a few common mistakes. One of the biggest is starting your search without getting pre-approved for a mortgage, which helps set a clear budget and shows sellers that you’re serious. Many first-time buyers also underestimate additional costs like property taxes, insurance, and maintenance, which can quickly stretch your budget. It’s important to think beyond your current needs and consider whether the home will suit your future plans, especially as life changes. Skipping a home inspection can also be a costly error, as it may leave you facing unexpected repairs down the line. Lastly, while it’s easy to fall in love with the first home you see, taking the time to explore other options can ensure you make a more informed decision. By planning carefully and seeking expert guidance, you can avoid these common pitfalls and make a smart investment in your future.
Get Your Free Tickets to the Ottawa Fall Home Show with New Purveyors!
Are you planning to attend the Ottawa Fall Home Show from September 26-29, 2024, at the EY Centre? Whether you're interested in home décor, renovation tips, or the latest landscaping trends, this event offers something for everyone—and New Purveyors is giving away free tickets! As Ottawa’s premier event for homeowners and DIY enthusiasts, the Fall Home Show features over 240 exhibitors, offering practical advice, exclusive products, and interactive demos from industry experts. You’ll also have the chance to check out the GOHBA Housing Design Awards and vote for your favorite design. If you’d like to attend, simply contact New Purveyors for your free tickets.
Discover the hidden world of off-market real estate with Knokd! Did you know that 1 in 3 properties are shared off the public market as "Coming Soon" or "Exclusive"? Gain access to this exclusive inventory and elevate your home search or listing strategy today!
Knokd offers personalized approaches tailored to your needs, providing targeted and discreet exposure for listings before they hit the open market. Say goodbye to one-size-fits-all listings and hello to a customized real estate experience.
Ourboro
At New Purveyors, we're excited to introduce Ourboro's co-investment partnership—a game-changing solution to expedite your path to homeownership. By co-investing with Ourboro, you can secure a 20% down payment without additional debt, gaining access to expert guidance and a competitive edge in the market. Contact us to learn more and unlock your dream home sooner!
Neighbourhood Monthly Statistics
Ottawa’s real estate market saw strong activity in August 2024, with home sales up 10.2% from last year and steady prices across property types. Despite more listings and lower interest rates, buyers remain cautious, taking time to find the right fit. Sellers should be patient and work with a knowledgeable REALTOR® to price homes effectively, as homes are still selling in under a month on average. With the fall market expected to stay competitive, both buyers and sellers can benefit from informed decisions and strategic planning.
To learn more, check out our full blog post HERE
Pet of the Month
Lola is a rescue from Cuba, she was very scared as a puppy but has truly come out of her shell. She hates the mail man, has a blue spotted tongue, and loves running around in Gatineau Park.
Send us your pets for the chance to be featured next month!
