Mid-January 2020 Ottawa Real Estate Update
It’s getting colder, but Ottawa Real Estate is heating up!
In the video and blog below, Dan gives his perspective on current happenings in Ottawa Real Estate. There is still a historic low inventory of house listings. The few new listings are often sold over asking price with multiple offers.
Are you considering a move this year?
You may want to discuss your options with an experienced realtor (me?). There are many things to consider. For instance, it could be one of the best times to sell, especially if you’re not looking to buy a new home in Ottawa. And even in this seller’s market, it’s important to plan strategically to optimize the outcome.
Sellers
It’s a great time to be a seller in Ottawa, but you need to ensure that you get the best return on your long-term investment — your home. Just selling your home quickly and possibly over asking is not all that you should expect. Patience and planning will net you a better sale price and conditions. My clients and I have seen multiple homes in the last two weeks that could potentially have sold for more. I don’t know what happened in the offer process since I wasn’t directly involved, but I can interpret that the seller was not patient when a good (but not great) offer was brought forward. PATIENCE PAYS OFF!
Buyers
If you’re a buyer, you need to be patient as well, but be prepared to move VERY quickly when “your” home comes to market. Go out and see what’s available. Get comfortable with your requirements (and budget). Be ready to make your move. Again, sage advice and experience will be to your upmost advantage.
Moving Forward
I’m here to educate, inform and guide you through the process. There can be many non-trivial subtleties to the moving process right now — your highest return on investment will depend on working with the right realtor.
Let me know if you have any questions.
Interested in Three Reasons to Go Urban in Ottawa or Buying in Ottawa Urban Neighbourhoods?
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