November 2024 Newsletter
November flew by for the team; filled with client events, deals, showings, and preparation for the holidays.
Maryam’s Home Buying Seminar
Maryam hosted a group in the back office space for an amazing, intensive seminar on all things home-buying. From preparing finances to a full summary of legal terms, potential buyers left with a great idea of what they need to do to start their journey. A special thanks to Liane Moskal and Sara Adada (mortgage agent and lawyer respectively) for their participation and added expertise.
Charlene’s Yoga Event
Charlene hosted clients, friends, and family in the office for a relaxing, focused night of yoga. A big thanks to Marie for leading the class.
Owen’s Quick Turnaround
Owen listed and sold this Hintonburg property in less than 36 hours! A huge congratulations to him and his clients.
Christmas Decor
The office is all ready for the holiday season!
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:
Understanding Ottawa’s Real Estate Market: Seasonal Trends
Ottawa's real estate market shifts with the seasons, offering unique opportunities year-round. Spring is the busiest, driven by curb appeal and family moves, while summer highlights outdoor spaces and relocation activity. Fall offers a balanced market with motivated buyers and fewer bidding wars, and winter provides less competition and motivated sellers. Understanding these trends helps buyers and sellers time their moves strategically.
Pros and Cons of Buying a Home Near the LRT
Living near an LRT station in Ottawa offers convenient commuting, potential property value increases, reduced transportation costs, and easy access to amenities, making it an attractive option for many buyers. However, drawbacks include noise, higher purchase prices, limited parking, and potential construction disruptions. Popular areas like the downtown core, Tunney’s Pasture, and future Stage 2 expansion zones like Barrhaven and Kanata offer diverse opportunities for buyers. Weighing these pros and cons with a knowledgeable real estate agent can help you decide if buying near the LRT aligns with your priorities and lifestyle.
Understanding Ottawa’s Property Tax System
Understanding Ottawa's property tax system is essential for homebuyers and sellers. Taxes are based on a property's assessed value, determined by MPAC, and the municipal tax rate set annually. Buyers should factor taxes into their budgets and know they can appeal inaccurate assessments, while sellers should be transparent about tax costs to build trust. Additional considerations include potential supplementary tax bills and relief programs for eligible individuals. By staying informed, buyers and sellers can make confident, financially sound decisions in Ottawa’s real estate market.
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
The Ottawa market is recovering, with year-to-date sales up 11.8% from 2023. The benchmark price for single-family homes rose 2.1% to $722,400, while apartments dipped 3.7% to $406,200. Active listings surged 38.2%, providing more options for buyers, though new listings decreased by 7.3%. Buyers remain cautious, awaiting December’s mortgage rule changes, while sellers are preparing for a more active spring market. Steady prices and increased inventory make now a balanced time to buy or sell.
To learn more, check out our full blog post HERE
Pet of the Month
Meet Fitz! Fitz is a friend of the team’s dog, and he loves rabbits.
Send us your pets for the chance to be featured next month!
