Happy November All!

Besides Remembrance Day, which is on Sunday this year, November also brings the Annual Homes for the Holidays Tour which runs from 16th to the 18th.  Tickets are $50 and go to support Hospice Care Ottawa.  There are some great homes on the list, and they range from Rockcliffe, to Revelstoke to Manotick! Come pick your next house or just get ideas for your Christmas decor.  Click here for more info - today is the last day to purchase tickets online but they can also be bought at various locations.

Wishing you a wonderful month! As usual we're always happy to work with your referrals!
  
Cheers,
     Eric

Courts approve $49.8M payout in CRT class action lawsuit - free money for you?

The class action was launched in 2008, alleging price-fixing in the Canadian CRT market.

Consumers who were living in Canada and purchased CRTs between March 1995 and November 2007 don't need to have receipts for their decades-old TVs and computer monitors, as claims can be filed online for up to two undocumented purchases.

The claim application deadline is March 1, 2019.

It would be surprising if any household did not buy a CRT TV or CRT computer monitor over that 12 year span.  ...read more...

October 2018 Ottawa Market Report

Condos are up, freeholds are up.

Another month of increases in the Ottawa real estate market.  What's not to like?

Well, it's great as a seller, but difficult as a buyer if every time you go to see a house there are multiple offers on it.

It's interesting that while these stats show huge increases in the number of condos resold, the year-over-year price increase is only 1%.  Many sellers were less concerned with how much money they made, and were glad to be able sell after so many years in the doldrums.

Freehold properties on the other hand show great increases across the board.  Too few properties for the number of buyers are reflected in the year-over-year figures:  only 1% more homes sold, but for almost 6% higher than the previous 12 months.  ...read more...

Step Up Your Staircase: From Runners to Railings

From traditional wood to Contemporary glass, a well-designed staircase isn't just functional; it can help elevate your home's look and feel. Put some style in your steps with these staircase renovation tips.

Stefani Forster displays a range of beautiful staircases and presents ideas and considerations in addition to the aesthetics.   ...read more...

Landlords and the CRA's "Expectation of Profit" Consideration

Jamie Golombek / Financial Post

Why not collect some rental income to help offset some of the expenses with a view to disposing of the real estate in a future year, hopefully at a significant profit?

Some people even boast of the tax benefits associated with being a landlord, as they seek to use any rental losses generated from their rental properties to reduce taxes owing on other income, such as employment or business income.

Real estate investing has been a very worthwhile wealth-creation strategy for many.  It is worth keeping in mind that the CRA considers an investment as a vehicle to make money, and that "cost sharing arrangement" to "renting below fair market value" usually will not meet their tests.  ...read more...

You Might Get a Locked-In Rental As Part Of Your New Home Purchase

Steve Maxwell / The Ottawa Citizen

Buried in the reams of paper comprising the Agreement to Purchase of a new home from a builder, there may be the innocuous phrase such as this one:

“The Purchaser acknowledges & agrees that as a condition of occupancy of the Dwelling, Minto is required to supply & install a rental water heater.”

The clause does not mention the supplier nor the monthly fee - or even that there is a monthly fee.  And in many cases there is no termination date.  In fact, the "is required to" almost sounds like it's required by some level of government.  ...read more...