Oasis Realty Brokerage, Ottawa Real Estate
Gord McCormick Ottawa, ON K2S0H6
Phone: 613-435-4692 Mobile: 613-371-9691
 

Sweetheart listing deals in February!


We have pretty much sold through our listings, so we are sharpening the pencil to encourage sellers to get on the market “pre-season” as listing inventory remains very low and sellers have a good opportunity to get a deal done now!

We are offering full service MLS® listings for suburban residential properties during the month of February for only 3.5% (+HST) and if a that seller also buys with us, then they pay total commission of only 3.0%....a huge savings in commission and HST!

While we are not a fan of the current "exclusive listing" craze, if a seller wants to try this non MLS® type of listing then our total commission is only 2.5% if we find a buyer without having to pay another Realtor.

Some conditions apply, not intended to solicit those with existing representation agreements.  Condos and country properties slightly higher.

After this SALE period our regular rates of 3.7% for residential and 3.99% for condos will apply.

Give us a call today to discuss your plans!  613-435-4692 or text to 613-371-9691

Gord McCormick, Broker of Record
Oasis Realty Brokerage.


Listing inventory woes continue to dominate 2018 real estate


New listings are down 13-15% vs last year at the end of January 2018 and total listing inventory is 26% lower than a year ago and 33-35% lower than at the end of January 2016.  This sets the stage for a very interesting year in Ottawa real estate.

Upwards price pressure on residential property:
Not surprisingly, there was upwards price pressure on residential sales values with the average house in January selling for $427,487 up 8.8% from a year ago.  This price increase despite a unit sales decrease of 1.1%,, perhaps reflecting lack of buyer choice due to limited listing inventory.

Condo flip side:
The condo market, meanwhile surged 45.4% on unit sales yet the average selling price was 8.6% lower at $263,744.

These results tend not to agree with typical supply/demand principles and will probably even out in the months to come.

“Grey Market” listings:
Some Realtors are keeping listings out of the MLS® market by use of pocket listings, coming soon listings or exclusive listings that do not appear on MLS®.  In a strong market, there is an opportunity to market properties via social media and other 3 party sources and online, so this may be exacerbating the already limited listing inventory.

So if you see a sign or promo that talks about an “exclusive” listing or see a sign that says “coming soon”, these will not appear on the public MLS® sites.  We don’t agree with these practices, in most cases,  but it is up to each individual seller and their Realtor to determine marketing options for their own property.

Generally speaking however, a seller can only be certain of getting the best market value price by having the property exposed to the widest possible market and this is only possible by full blown exposure on the MLS® system.

When you think it about it….it is also the most fair and democratic, too.

We are back from vacation, refreshed and ready to go for another great year in Ottawa real estate and have some super opportunities for those wishing to list pre-season (February especially!) so feel free to give us a call to discuss your buying or selling plans for 2018.

Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage
613-435-4692  oasisrealty@rogers.com

12th year in business with lower commission rates for sellers


What can we expect in Ottawa real estate 2018?


Here are a few thoughts on some trends or factors that will shape our market in the coming year:

New mortgage “stress test”:
Much has been written about how this additional 2% will impact buyers and approval levels and it will have some impact on the upper end of the market and perhaps for some investors.  Biggest worriers on this have been the mortgage broker community and they are closer to the approval lines than we, so if they are concerned then there is probably something to it.  With mortgage rates continuing to move slightly higher, this may also have an impact on the market.

Re-sale listing inventory levels:
Resale listing levels have been very low for most of the past year and this has caused challenges for buyers and has helped push prices up on residential properties, as demand exceeds supply in most cases.

Listing scarcity has also spawned a number of Realtor activities including more widespread use of exclusive listings or pocket listings, as well as future sales or purchases.  Ie sell now buy later or buy now-sell later.  These creative marketing programs are mostly for the individual Realtor benefit but also have the effect of keeping listings off the MLS® system and further tightening supply.  Unless a property is exposed to the full MLS® market and buying public, one cannot guarantee they are getting their best market value and we think all properties are best listed on full MLS® market.

Builder activity:
Builders had a big year in 2017 and prices have been catching up after several slower years.  Builder delivery schedules may be tightened ie lengthened   if the strong sales performance continues.  We can also expect to see further price increases, if scarcity and labour constraints are present.  Builder inventory or quick occupancy homes remain a good option for buyers and Realtors can help their clients’ research new construction options.

Local ownership diminishing in real estate brokerages:
A clear trend has been taking place over the last couple of years and this has resulted in a lot of Ottawa real estate brokerages ending up in the hands of out of town owners, primarily Toronto based large firms.  All quality organisations but if you prefer to deal with a local broker and owner then there are many small, independent brokers that offer excellent service and more often than not, at lower prices than the mega brokerage.

Competition Bureau vs TREB:
Will this be the year that the final story is written on availability of MLS® data via 3rd parties, so consumers can do their own research on line?  This legal trail is a long and winding one but if an when it is completed, we can expect to see a bit of disruption in the market. Update Feb 6th: apparently TREB is now appealing to the Supreme Court of Canada, so the saga continues....

Government activity:
There is always the potential for government or other regulatory activity that can impact the market but we can’t see anything in the short term that should have a major impact on our market.  The marijuana legalization and some of the provincial moves on tenancies may cause a few wrinkles and deter investor buyers but this remains to be seen.

 

All in all, it looks like is should be another solid year in Ottawa real estate….stay tuned!, we look forward to working with you this year!

Gord McCormick, Broker of Record
Dawn Davey, Broker

A lower commission brokerage...12th year in business!


Budget beater: new fiscal year 3.7% special MLS® offering for sellers!


The new government relocation contract calls for full service commission of only 3.7% for Federal employees who are relocating under the government Integrated Relocation Contract (IRP) which is administered by Brookfield Relocation Services.

We are offering this 3.7% rate to residential sellers in our coverage area and you will pay even less if you also buy with us!  (some conditions apply. condos slightly higher at 3.99%

If you are a government employee posted out of Ottawa, we also have a special “enhanced or improved IRP”program rate and strategy that helps ensure your property gets sold quickly. 

Check out the attached blogpost to see why this improved IRP program is necessary: http://blog.oasisrealtyottawa.com/fedbrookfield-irp-contract-cuts-realtor-commission-to-3-7/ 

*not intended to solicit those with existing representation agreements

Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage
613-435-4692

www.oasisrealtyottawa.com

a lower commission brokerage for sellers!


Ottawa real estate guide