Right now I am sitting at a home inspection as I type this. I am here with some great military clients who are relocating from Petawawa. We have secured a nice townhouse in the KANATA neighbourhood of Morgan’s Grant. It is about 10mins to the New DND headquarters at the Nortel campus. Securing this home has been a challenge.
The townhouse market right now in Barrhaven, Stittsville, and Kanata is as hot as it has ever been. Townhomes in these neighbourhoods over the past 2 months are selling in 6 Days for an average of $3,500 over asking. We have been competing against as many as 11 offers on previous offer attempts. I have never seen anything like it for this segment of the Ottawa real estate market. On a house hunting trip, this can make things very stressful and can be challenging to leave Ottawa with a house. These are the fall market conditions right now. I am really hoping that by the time our Spring House hunting trips begin there will be more inventory available.
I will be starting a database of CAF members who have a high probability of being transferred next Spring. My objective will be to have some off-market military listings that can be sold to other military buyers coming in on their transfer. Basically making it as easy as possible for both military buyers and sellers.
If you are relocating to Ottawa or have any questions, please get in contact with us. This is what we specialize in.
One of the most popular events in Ottawa each September is the Army Run. This year I will be participating and raising money to support our military troops and their families. I can’t wait for the big day! If you want to come out and support this great cause please see details here: http://armyrun.ca/
If you want to donate to this cause check out my pledge page. I will match dollar for dollar every donation that is made up to $1000. I will also donate a minimum of $500 for this wonderful cause. Just bought some new shoes for the race, now I just need to get in shape!
Working as a military relocations specialist in Ottawa has been one of the most rewarding decisions I have made. I get to work with such wonderful people who go out of their way to support my business. I am excited to be aligned with this group of people. My hope is that we can raise lots of money for this wonderful cause.
If you have been transferred to Ottawa and are booking a house hunting trip there are a few important things to consider. Here are my top 3 tips:
1) Resale: Find a house that does not have any major strikes against it. This could be power lines in the backyard, house on a really busy street, it has an unusual layout or some type of stigma attached to the house/area. You have to make sure the house can be sold quickly on the other end when/if you are posted outside of Ottawa. Exceptions can be made if the price is very good.
2) Location: Find a location/neighbourhood close to transit, has good resale and is accessible to good schools. I can help guide you in this respect. I have good knowledge of all the areas in Ottawa.
3) Realtor: As you know this week is going to be very important for you. Your new home/area can in some ways dictate how you will enjoy your time in Ottawa. It is important to get aligned with a great Realtor who is familiar with house hunting trips. There is no time for mistakes.
If you have any questions about your posting to Ottawa please feel free to get in touch. I am always reachable via my cell at 613-863-6999 or email.
Not everyone purchases re-sale on their house hunting trips. Some prefer new builds in Ottawa. I recently assisted a past client of mine who moved to Winnipeg and was relocated back to Ottawa this summer. We looked at the re-sale options in Stittsville but inventory was low. We also met with a few builders and looked at new builds. My clients loved the Beckwith model by Tartan in Poole Creek. It is a newer neighbourhood in Stittsville that borders Fairwinds. They purchased this home because it was already in the process of being built. They still got the opportunity to choose their finishes. As their Realtor, I filled in for them at some builder appointments/house inspections.
Pictured above is me meeting with Tartan Homes on my clients first framing appointment.
Things turned out pretty well. This is their dream kitchen! I just met with them at their final walk through and they are thrilled with the house.
If you are considering new or re-sale on your house hunting trip in Ottawa please feel free to get in touch. I have some great contacts with builders if this is an option you are considering.
The power of staging and home preparation is evident in this military couple’s sold listing. These Ottawa military sellers were relocated to Edmonton and needed a quick turnaround on the staging. In one week we were able to get this house professionally staged and market ready. As you can see with the before and after pictures there was a lot of work done in a short period of time. Our sellers achieved 99.9% of asking price because of the time and effort they put in before hitting the market. Now they can focus on finding their house hunting trip in Edmonton.
If you are relocating to Ottawa or have any questions, please get in contact with us. This is what we specialize in.
In Ottawa there are so many military clients that need to sell quickly. In some cases, they are not able to recoup all of their equity. In rare cases, they may sell at a loss. Here is some good information for anyone in this position.
8.2.10 Capital improvements
Custom benefit
Limited capital improvements may be reimbursed in accordance with the table below:
Capital Improvement Benefit Formula
Original purchase price
+ Eligible capital expenses
– Sale price
= Reimbursable loss (if result is negative)
The following is an all-inclusive list of eligible capital improvements:
Installations – new windows, driveway (including paving), central air conditioning.
Complete modernization – kitchen (new cupboards, countertops, sink, taps, etc) or bathroom (new cupboard/vanity, countertop, sink, shower/tub, etc).
Heating System – change from hot water radiator to forced gas or upgrade to high efficiency furnace and required ductwork.
Basic Landscaping – other than decorative including the installation of a perimeter fence. (On new home construction excludes initial landscaping which occurs within one year of occupancy when not identified by Building Agreement.)
Personalized funds
When all custom funds have been expended.
Eligible period
Capital improvements must have been carried out after CF members have taken possession and before the sale of the residence.
Receipts
Original receipts are required for all capital improvements.
8.2.13 Home Equity Assistance (HEA)
As per the HEA calculation criteria listed below, CF members who sell their home at a loss are entitled to reimbursement for up to 100% of the difference between the original purchase price and the sale price from specific funding envelopes as follows:
Core benefit
80% of the loss, to a maximum of $15,000; and
100% of the loss, in places designated as depressed market areas by Treasury Board Secretariat (TBS).
Custom benefit
In excess of core entitlement.
Personalized benefit
When all custom funds have been expended.
HEA calculation criteria
Properties selling for less than 95% of the market value require DCBA approval prior to qualifying for this benefit. Market value is to be based on the appraisal provided by CFIRP.
Capital improvements shall not be included in the calculation of HEA but may be claimed separately as per art 8.2.10.
Any reductions of the sale price based upon deferred maintenance shall not be included when calculating HEA.
The original purchase price for new home construction consists of costs:
identified in the Building Agreement, and
for initial landscaping which occurs within one year of occupancy (when not identified in the Building Agreement).
Depressed market, as established by Treasury Board Secretariat, is defined as a community where the housing market has dropped more than 20%.
Depressed market status may be evaluated when:
A CF member and the Realtor build a case for depressed market status by submitting the following documentation to DCBA through the CF Relocation Coordinator for review, DCBA will forward it to IRP Program Authority at Treasury Board Secretariat:
Personal introduction including an outline of changes in the local economy evident during the time at origin.
All pertinent information with respect to the purchase of the subject property. This would include the original purchase agreement, the current appraisal report, list of the capital improvements made to the property and the related costs. Also, the appraised value when originally purchased and any property assessments since the time of purchase. Regarding cost of construction, this will require submission of original receipts to confirm the original purchase price, if a building contract was not used. Capital improvements must be supported by original receipts only.
General and specific information on the geographic location and local economic state; i.e. the circumstances that may be happening in the surrounding areas such as mill closures, unemployment rate, school closures. Include relative newspaper articles, memos, and objective evidence of market decline. Also, include sale date, date offer received, listing date list price, lowered list price and any home equity loss paid.
For real estate information:
Letter from Realtor expressing his/her professional opinion of the overall decline in the market since time of purchase;
Copies of comparable sales (similar type homes) that were concluded within the past 6 to 12 months;
Number of current listings in various price ranges and number of days on the market;
Number of sales (year-to-date) in various price ranges and number of days on the market;
Number of sales during previous 2 years in various price ranges and number of days on the market;
Number of foreclosures (year-to-date) and same for previous 2 years; and
Current vacancy rates, and similar information from previous years.
Note: All items must be labelled with a table of contents.
If you are relocating to Ottawa or have any questions, please get in contact with us. This is what we specialize in.
Light rail is coming west sooner than expected! Wonderful news for all my military clients. The city just announced that the LRT line will be coming west all the way to Moodie drive. This will serve the National Defence headquarters at the old Nortel campus. Bayshore was supposed to be the last stop but that was just extended with the new refreshed stage 2 transit plan. Ottawa city staff crunched the numbers and they found the money to put the tracks all the way to Moodie drive. This should be ready for 2023.
If you are transferred to Ottawa and would like more information on transit or neighbourhoods please feel free to get in touch. I specialize in Military relocations and would happy to be of assistance.
If you are relocating to Ottawa or have any questions, please get in contact with us. This is what we specialize in.
This is the time of year when many CAF members start to learn of where they might end up on a posting message. I have some clients that know they will be posted to Ottawa but just won’t have official word until early March. My recommendation for them and others is to start with your due diligence. The more you can get accomplished before your official posting message and HHT the better. This year so far I have had 2 families already looking at homes in Ottawa before their official message. They want to be well prepared for their Spring house hunting trip. Ottawa is a blue-chip real estate market. Very stable and steady and a great place to invest in real estate. If you want to know more about our local housing market and neighbourhoods with high appreciation possibilities please get in touch. I can always be reached at 613-863-6999. Happy house hunting this spring!
The move to a new National Defence Headquarters is happening with the first group moving this month. Approximately 8,500 people from the National Capital Region are being relocated over the next 2 years. Check out this video for all the excitement!
It has been a privilege assisting so many military families to transfer into and out of Ottawa. The Capital is a very popular place when it comes to military postings. An integral part of the process is having the right IRP approved service providers in place.
I have been fortunate over the years to partner with like-minded people at the top of their respective fields. When a transferee comes to Ottawa we have the best inspectors, water specialists, septic inspectors, lawyers, mortgage brokers, and others whose services might be required. They are all part of the Brookfield process. The last thing they need to do on a busy HHT is worry about getting the right people involved.
If you have any questions on the service providers I have partnered with please drop me a line. If you are planning a house hunting trip in Ottawa fill out our HHT form.
