It is no secret that Ottawa is the hottest housing market in the country right now. In Ottawa, one of the most active segments is the $400,000 to $480,000 price range. Our team was engaged by Heather and Byron who were relocating to Ottawa. Unfortunately for them, they were in this HUNGER GAMES price range. This is their story!
Day 1
We spent all day looking through various neighbourhoods in the city. We found a great house in Chapel Hill. It was a bit underpriced and judging by the multiple showings during our visit we knew it was going to be competitive. In the end we were notified there was 11 offers on the table! Let the games begin.
Offer 1
List Price$400,000
Our Bid$426,000
The winner was $451,000 with no conditions in the offer. 11 offers total. We were told our offer was in the top 1/3 of offers.
Me learning the news:
Day 2
More viewings and a new listing came up in the afternoon that we are the very first buyers into see. Excited at potentially doing this quickly. It is a holiday Monday and we figure this gives us an advantage. Beauty house on Steeple Chase in Kanata. We have our offer in within hours of listing. Afterwards, 3 other offers come in that afternoon. We know we have to go high to secure it. We make a very strong offer.
Offer 2
List Price$489,900
Our Bid$521,000
We felt very good about our offer. Unfortunately, they get a higher offer and we lose out again! The hunger games continue…
Pretty sure this is what the seller looked like:
Day 3
Time is starting to play a factor here. We need to secure something. A listing comes on the market at 9:30 am in Stittsville. We are in the house at 10:30 am and can’t believe our luck! It is a beauty. It is grossly underpriced for today’s market. They basically priced it at last years numbers. We head back to the office to chat about it. Before we can do much the agent calls and they have an offer on the table already. An hour later they already have 4 offers. They are presenting that afternoon at 4:30 pm. This is a bit of a problem because another house we liked was presenting at 6:00 pm. What one do we choose? We ended up putting an expiry of our offer of 6:00 pm for the first one so if we lost we could pursue the next. We go way over asking on this one!
Offer 3
List Price $439,900
Our Bid$476,000
Feeling a bit overconfident on this offer. Really strong but we ended up in second place! Luckily we found out just before 6:00 pm and bid on another home.
A surprising loss, time for a drink!
Offer 4
List Price$424,900
Our Bid$441,00
The house was really one of their favourites all along. We just didn’t want to overpay and felt our offer was a bit conservative. Funny that we were all not feeling overly confident on this one and then the call came in that the house was secured!! The hunger games were complete!!
WINNER!
The inspection was flawless and my clients went home happy.
Imagine all of the showings, paperwork, emotions, and stress of the 3 days above. It is not easy buying a house on any HHT let alone one in this market. At the end of the day, we got the job done and the clients are super happy with the process and the house they secured. That is what it is all about and why I love my job. It can be long days but it is hard to have a more rewarding feeling than making the call to let my clients know they have secured their dream home.
With our team the odds will always be in favour of our clients!
The DND at the Nortel complex is starting to fill up with civil servants and military personnel on route to the estimated 9300 people that will eventually work there. This has created a parking shortage. There are only enough spots for about half of the employees that are expected to work there. In May of this year, all parking passes will be revoked and a new lottery system will be put in place. Essentially you will have to win your parking space (you still have to pay $35/month). It is designed to make it fair to everyone. This has angered some civil servants who feel that the location is remote and poorly served by bus routes. DND personal fired back that they have no obligation to provide parking and that having a space is a privilege, not a right.
If you carpool you will be able to get a pass much easier. DND is encouraging people to carpool and has even set up a site where people can sign up for it. This is the only sure-fire way to get yourself a parking pass.
Our team has just invested in a moving concierge program that will be a game changer for our clients. This new platform will assist our clients with everything from changing addresses, transferring home services, updating identification, and getting helpful advice. This can include anything from setting up short term Airbnb accommodations to organizing moving company quotes. Each client will have a dedicated concierge agent. We are completely committed to the client experience. We hope this new service will bring value to our clients and make the transition into the new home as easy as possible.
House hunting trips can be challenging for buyers who are not familiar with Ottawa. We really only have a few days to explore its neighbourhoods and secure a house. In the east end of Ottawa, many of my military clients are comparing the markets of Orleans and Rockland. Here is a brief summary of the two locations:
Rockland: This is a rapidly growing neighbourhood that is outside the city of Ottawa boundaries. It is situated about 40 km to downtown Ottawa. Housing prices are much more appealing to families looking to stretch their dollar. You drive further but get more. In many cases, you can get a detached home for the same price as a newer townhouse in Orleans. For many this is enough to take on a longer commute each day. It is, however, important to note that resale can be a bit more challenging in Rockland. Houses tend to stay on the market longer.
Orleans: This is an Ottawa East suburb with a population of over 100,000 people about 16kms to downtown Ottawa. Always, a very popular location with lots of amenities, schools, and good transit connections to downtown. The future LRT line will make access even easier in the years to come. Resale is much easier when compared with Rockland but prices can be 100k more than Rockland for the same detached 2 storey/double garage house.
In a recent house hunting trip, my clients who were up from Washington ended up looking in both Orleans and Rockland. He was posted to Letrium and felt like Rockland would be the better choice because of its value proposition. They ended up securing their dream house there for $425k. That house would have been 550k plus in Orleans. It really is that big of a price difference depending on the style of housing.
If you are debating between these two locations on your relocation to Ottawa please feel free to get in touch. I would be happy to send you options in both locations.
We are always doing everything we can for our military clients. This year in Ottawa the real estate market is tight. We are putting together a list of off market homes this year for our military clients to look at. Many of these will be focused in the areas of Kanata and Stittsville. This is where many of our clients are looking on their house hunting trips. See video for more details.
