Posts Tagged ‘Selling’

OTTAWA MARKET UPDATE: OCTOBER 2019

Posted on: November 13th, 2019 by Chris Scott

OTTAWA MARKET UPDATE OCTOBER 2019

It is a winter wonderland out there already. What the heck is going on! A snow day on Nov 12th is madness!! Some people may be wondering if the cold weather will put a chill in this hot real estate market. I am not sure that will be the case. The numbers from October reveal that there is some madness in that regard too!

Our market is summed up nicely by our board president:

“New listings are down, inventory remains scarce, and yet more homes changed hands this October than in the past decade and a half,” reports Dwight Delahunt, President of the Ottawa Real Estate Board. “It’s perplexing at first; however, when you consider the current breakneck transaction pace in the Ottawa resale market, often requiring homebuyers and sellers to make swift decisions, it makes sense.”

When I analyze the market it is clear to see we are firing on all cylinders. What I see is that for the first time you have all segments of the market including condos and freeholds beings extremely desirable to buyers. In years past it might have been the condo market that was hot or the last few years, it was more about the freehold market. Often times it could be different locations that were “hot”. This year it seems to be every segment in almost all locations. Especially West of downtown. The hottest locations are experiencing price increases of over 5% when compared to March and April of this year!! Many buyers back in the Spring were patient and that patience is long gone with buyers now realizing they have to pay a big premium (in some cases) to secure their home.

I get why our market is what it is. We have been undervalued for a long time. I have said this in my annual reports for years. Even now in relation to our average earnings and the extremely high quality of life in our city, I can still make that case. It is just not much of a secret anymore! If you want to know what’s happening in your neighbourhood let me know. We are always happy to be a real estate resource for you.

Ottawa Market Update October

OTTAWA MARKET UPDATE OCTOBER 2019

TEAM MISSION

Posted on: February 8th, 2018 by Chris Scott

After our annual client Santa party I was approached by a past client who asked me why I do all this after sale stuff. The contests, newsletters, cards, client events etc. He said he would refer our team business no matter what, and that I really didn’t need to do all this stuff. It was an interesting question. The answer is at the heart of my business. Here is what is on our wall at the office:

Mission

We are just living out our mission statement. That is what gets me fuelled up every day and excited to go to work. You see our mission in real estate is to create a raving fan service experience for every client and to bring value long after our clients buy or sell. We will always strive to provide this service to clients if they bought 12 years ago or 12 months ago. As our team grows we are able to offer better services and bring new experiences. I look forward to sharing some new initiatives with everyone in the near future.

OTTAWA MARKET UPDATE FOR JULY 2017

Posted on: August 8th, 2017 by Chris Scott

Ottawa Monthly Stats for Newsletter

I hope everyone is having a great summer so far. Our local housing market continues to impress. In July the market was once again well ahead of where we were this time last year. Let’s look at the numbers.

These are the average numbers. There are some areas that are experiencing double digit increases over the same period last year. Anything West of downtown to Carlingwood would be in this category. Buyers want to be central and are willing to pay a hefty price to get there. Take Westboro/Carlingwood areas as an example. The average price here for a single is $758,000 that is up 11.5% from a year earlier.

Another reason for the strength in our market is that condo market is making a comeback. Much of the inventory that has been stale the last few years is being sold off. This has really helped to strengthen the market as a whole. Many condo owners (myself included) have rented their condos in the past few years waiting for better selling conditions. The time might be right to list for those condo investors. The condo market sold 332 units in July 2017 which is an increase or 19.4% compared to last years July.

Inventory continues to be an issue in some locations-especially in the central areas. The amount of new listings coming to market is lower than the 5-year average. Buyers are still patiently waiting for properties to come available. We are seeing a more active summer because many buyers were unable to secure their home in the Spring.

Interest Rates could be a factor moving forward. As our economy strengthens it is natural that our key interest rate will rise. After many years of steady rates, we have finally seen a rise in the Bank of Canada rate. It recently increased by a 1/4 of a percent. Lenders have since followed suit. This will add about $12 more per month on average for every 100k of a mortgage. It will affect affordability but not enough to cool the Ottawa housing market. Something to keep our eye on. Ottawa is such a spread out city. There are different market trends happening in each micro market of the city. If you are curious to whats happening your neighbourhood let me know. I would be happy to provide you with a list of Ottawa homes that have recently sold around you.

Ottawa Monthly Chart for Newsletter

Anny Metivier

2024-08-13

Over the years, with multiple military moves, we’ve had the opportunity to work with many real estate agents, and we can confidently say that not all are created equal. Chris, by far, has been the most trustworthy and easiest real estate agent we’ve had the pleasure to work with.

Jake Moffat

2024-06-07

Colin has been the best realtor to work with and helped us buy a great house in the perfect neighborhood. Colin and the rest of the team at Chris Scott were incredibly helpful the whole way and always available to answer questions, show us houses at a time that was convenient for us and were just generally professional and friendly during the whole process. We will recommend Colin and the team to our friends and family.

Faith Woodley

2024-03-13

I was a co-Executrix of an estate, and we had a condo that we had to sell for the estate. In order to get the property ready for sale, we had to have the over 5,000 square foot condo painted and the carpets replaced. Since the property was empty, Chris recommended a home stager that he uses on properties that require these services, and she did a fantastic job of staging the condo. It took the condo to the next level. The condo sold for a phenomenal price, and we were very happy with Chris Scott and his abilities. He always gives over 100 percent to get the job done! I recommend him to anyone that requires the services of a great real estate agent.

Emily Bozanich

2023-10-07

We worked with Rachel and she was beyond diligent. She is so organised and meticulous with details, it really helps when buying a home. She even agreed to do a virtual walk through for the home we ended up buying because we weren’t going to get there ourselves prior to offers being reviewed. She was also great with recommending areas to consider and avoid. Highly recommend.

Cy Dixon

2023-10-06

Rachel was amazing. She helped me find the perfect home for me and my son during a challenging time in my life. She was extremely patient and empathetic, professional and knowledgeable. I highly recommend her. No one will work harder for you than Rachel.

Jeff C

Awesome realtor team very helpful and knowledgeable

Nathalie Groupe Godin

Great service. Very knowledgeable. Super helpful. I’d use this team again.

D Hynders

2023-10-05

I recently used Chris' team to purchase a new house and I have to say that it was a pleasure to work with them.

Megan Bixby

My husband and I purchased a house in the surrounding Ottawa area with the assistance of Colin from this group of individuals. We unfortunately were left with no choice but to purchase a home sight unseen due to our work circumstances. We originally considered not purchasing because of this. We deliberated and chose to purchase a home after participating in FaceTime showings and we could not have been more satisfied. Colin was objective, professional, calm, informative, and realistic. He listened to our needs and helped us choose our home. The fact that we were pleasantly surprised, and a year later remain pleased as punch, says everything about how talented this company is. Will, without a doubt, use this company when we leave Ottawa.

André Desjardins

2023-10-04

We worked with Chris to find a home back in 2011 that would suit our desire to be close to work. He was nothing but professional and courteous! Listening to our needs and showing us what we were looking for. Years later, when we thought about down sizing and finding a renovated home, he took us around to see some in the neighborhood. He always open to helping us out in our searches