Canada’s Resales Through the Roof!!

Sales of existing homes in Canada jumped 31.5% in the second quarter from the previous one– their first year-over-year quarterly increase since before the peak of the financial crisis, the Canadian Real Estate Association said this week.

The industry group said actual home sales totalled 147,351 units in the second quarter of 2009, up 1.4% from the same quarter of 2008.

Home sales rose 8.7% in June from May on a seasonally adjusted basis. They were up 17.9% from June 2008, using non-seasonally adjusted figures.

“This is on par with the record for the month of June, set in 2007, and is the fourth highest ever for activity in any month on record,” CREA said in a report.

A total of 41,304 homes changed hands in the month.

The report is the latest piece of evidence showing that consumers are venturing back into the home market, encouraged by low mortgage rates and signs that the worst of the recession is over.

“The recovery in the Canadian housing market continued in earnest in June …,” said Millan Mulraine, economics strategist at TD Securities.

“With prices remaining quite favourable and low borrowing rates enhancing affordability, it is likely that this uptick in sale activity may continue for some time as the recovery in the housing sector takes hold,” he said.

The average home price rose 3.6% year-over-year to a record high $326,613 in June.

On a quarterly basis, the average price was up 0.5% from a year earlier to $318,696.

But CREA said strong sales activity in a handful of very expensive markets was distorting the national average to make prices look unusually high.

Sales growth in Vancouver, Toronto, Montreal, Calgary and Edmonton contributed most to the national increase.

The inventory of unsold resale homes — measured as the number of months it would take to sell the stock of houses at the current sales rate — fell to its lowest level since August 2007 at 4.2 months.

Original Source: http://www.nationalpost.com/homes/story.html?id=1802820

Solar Farm Near Ottawa to Power 7,000 Homes!

By Mohammed Adam, Canwest News ServiceJuly 13, 2009

As controversies over green-power projects erupt across Ontario, Ottawa is quietly leading a revolution in solar farming that will soon make the nation’s capital home to one of the largest solar-energy plants of its kind in North America.

An 80-hectare farm in West Carleton, just west of Ottawa, is about to undergo a $100-million investment that will see 300,000 silvery solar panels installed there. Once this solar farm becomes operational at the end of the year, it’s expected to generate about 20 megawatts of electricity, enough to power 7,000 homes during peak hours. It will be Canada’s largest photovoltaic plant, one that converts sunlight directly into electricity.

The project, which is being undertaken by EDF EN Canada, the Canadian arm of the French renewable-energy firm, EDFEnergies Nouvelles, is made up of two parallel installations feeding into the provincial grid. The land has been leased for 20 years from a local farmer. “We’re trying to make a revolution happen in solar energy,” said a company spokesman.

© Copyright (c) The Calgary Herald

Source: http://www.calgaryherald.com/technology/Solar+farm+near+Ottawa+gets+residents+thumbs/1785081/story.html 

 

No Pet Provisions

Taken from the Ontario Real Estate Association’s Provincial Reference Manual, with additional reference at end.

Any provision in a tenancy agreement that forbids animals (frequently refferred to as the no pet provision) is in violation of the Act (Residential Tenancies Act). In other words, a no pet provision in a tenancy agreement is void (Section 14). However, exceptions do apply; e.g. provisions in the Ontario Human Rights Code and pet restrictions in condomiums (subject to certain qualifications). A condominium declaration may contain enforceable provisions (e.g. no pet provisions), relating to the occupation and use of units and common elements.

Any tenant or landlord involved in a dispute is strongly advised to contact the Ontario Rental Housing Tribunal and/or seek expert advice.

The landlord ay make an application for an order to terminate the the tenancy and evict the tenant under selected circumstances concerning animals; e.g. where the animal causes substancial interference with reasonable enjoyment, causes serious allergic reaction or the animal is inherently dangerous.

The Tribunal will not make an order without being satisfied that:
– the tenant is in fact keepin an animal; and,
– The past behaviour of an animal of that species has substancially interfered with the reasonable enjoyment of the landlord and other tenants; and that the animal did cause or contribute to substancial interference; or
– the presence of an animal of that species has caused a serious allergic reaction; and that the animal did cause or contribute to the allergic reaction;or
-The species or breed is inherently dangerous to the safety of the landlord or other tenants.

 

Resource: http://www.ltb.gov.on.ca/en/index.html

Mailout One.

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The following is a blogged version of my first mailout:

I am writing this blog entry tell you about my career and how I hope that I can be of help to either yourself, or to a family member or friend of yours.

I have recently conquered some of the largest challenges of my life and I am now ready to set the bar even higher and try to make the most of my potential.

In March 2009 I graduated University with my B.Comm Honours in Management from the University of Ottawa’s Telfer School of Management after 4 long years of Full-Time School and Full-time work at the House of Commons (Accounting and HR Roles). Before this, I was pushing my way through College for nearly two years and filling the gaps with various other courses and certificates – giving me almost 7 years of a double-booked full-time schedule. Towards the end of my schooling I had pin-pointed my career choice and that was to run my own Real Estate Business. I enrolled in the Ontario Real Estate Association’s Real Estate College licensing courses with my last two semesters of University to go, completed both, and am now running my own business! I’ve been involved in Real Estate directly and indirectly for 10 years this summer of 2009, and I am now ready to give it my all and build my business’s reputation one client at a time.

I have chosen to join Partners Advantage GMAC Real Estate, Brokerage run out of the Stittsville area to make my mark. Why this company? A few main reasons are: 1) Dr. Bruce Firestone – the founder of the Ottawa Senators and Entrepreneur in Residence at the University of Ottawa is the broker who mentors me and has been doing so for many years now, 2) The brand is not completely established in Eastern Ottawa, which is where I come from and thus I have a unique advantage where I get to introduce myself as well as the company I work for, and 3) the resources and culture at this Brokerage are an eye-opener and a breath of fresh air at the same time. Powerful state of the art resources, innovative mindsets and business models, talented, kind and bright individuals make this brokerage a great place for me to grow.

I would like to welcome you to make the best use of me at any time you may need me; I am here to provide my friends, family, and community with any and all help I can give them to the best of my ability. I am conditioned to work both hard and smart for things that matter to me, and since you have received this letter – you are on that list.

Finally, the way I structure my business is through word of mouth and referrals, so if at any time you can think of someone who may want to buy or sell a home, please refer them to me or vice versa and I will make you proud. That is my pledge of service to you.

Thank you for taking a few minutes to read my blog!

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Let your GOALS be Known

In light of the article I posted on the Fear of Success, I would like to remind people how important it is to have GOALS and to make them KNOWN. You need to put your goals in writing and put that piece of paper, cardboard, that picture – WHATEVER it is – put it in sight.

Tell people, Facebook it, blog it, tweet it, email it.  Be one of the few people that makes it known who they are and what they intend to do for themselves and for others.

I will skip the importance of having goals because we have all heard it a million times and I don’t even want to think about it again.

I KNOW WHAT MY GOALS ARE – and you should too. I know that I have to move 7.3 Million worth of Real Estate a year to net my targeted income. I know how much money I have to put aside for taxes each deal. I know how many pennies I need to save from every dollar I make to put towards my family’s well being. TO THE PENNY. And you know what? Because I know exactly what I need to do to get exactly what I want to get – I know where I stand and I know what direction I am heading in. Every action I take is a step FORWARD. In my opinion – that’s a great attitude that will lead to succeeding at my goals.

You can’t be afraid to verbalize your goals and let them be known. Not only is it important to have your goals clearly stated, but if you communicate them to someone, chances are you will feel even more obligated to achieve them. Sounds stupid, sure… but it’s true. Personally, I don’t work well if I’m not under pressure – as stupid as that sounds, it’s true. So you know what I do? I put the pressure on myself! I take on as much responsibility as I can, and that’s when the true nature of my character shines. When the going gets tough, right?  The point is – if it helps you achieve success, why aren’t YOU doing it?

Seriously. YOU!

Does your best friend, partner, mother or father know what your goals are? Any one of them?

Do YOU know what your goals are?

Write it down! Reply to this message and put it down!

What’s so scary about that?

I bet I will have over 100 views on this message and about 3 people will reply. I can almost guarantee you that those 3 people are going to have an infinitely better chance of achieving their goals because they have the confidence in themselves to take even this TINY commitment towards them.

I’ll Start.

My Goal is to build a Real Estate Business that provides for my family, myself, my community and my clients. I aim to work as hard as I can, to give as much as I can, and to enjoy as much of it as possible. 7.3 Million worth of Real Estate a year has to be moved, MINIMUM. Within 1 year I will own another property and will have started a family. I might even pick up a few Leonberger’s while Im at it.

Thats the direction I am heading in. Those are the goals I work towards every day of my life.

Your Turn.

MY GOALS ARE:

New Home Market Report – Part 1

CMHC Housing Market Report for Ottawa

 Original Source: http://www.cmhc-schl.gc.ca/odpub/esub/64311/64311_2009_B01.pdf

  • New Home Construction to Slow Down Toward Demographic Needs

Its nice to see some normal economic theory coming into play:

The Residential construction industry in Ottawa will remain in good health and will therefore exhibit a normal cyclical downward adjustment. This will bring the pace of new starts during 2009 and 2010 to more moderate and sustainable levels, consitent with both economic fundamentals and demographic needs.

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  • Single-Detached Starts will Adjust the Most

Single detached starts will go down 28.1% from 2008 levels for a variety of reasons including increased caution among first time home buyers, a negative wealth effect caused by equity losses among baby-boomers, and reduced affordability for more expensive dwellings.

  • Suburban Townhomes will Remain Popular Among First-Time Buyers

I knew this! This top selling home type that I have been dealing with is Suburban Townhomes. Townhome construction will rebound at the fastest pace among all property types due to the appeal of suburban lifestyle and recent improvements in homeownership affordability.

  • Urban Apartment Construction will Lead the Way in 2009

Very Interesting!!!  This section says that due to economic conditions and changing demographics, this section will see a ‘buoyant’ demand , especially for condominium units closer to Ottawa’s core that is expected to remain well above historical averages.

 

Next: The RESALE market