August 2016 - Advice for house hunting

Dear Friends,

With CMHC forecasting “steady housing demand in Ottawa as employment and earnings improve”, a balanced market will be news well received by many as we wind down one of the most wonderful Summers (weather-wise) in recent years and hope for an Autumn that treats us just as well!

 

This month, the focus is on our Buyers and the message is: ‘it will pay to think more like Sellers these days’. Some advice for those beginning or continuing their house hunt in today’s Ottawa market:

 
  • Buyers who can think like the Seller may understand the Seller’s bias and put themselves in a good position to negotiate remembering there is a human being on the other side of the table.

 
  • Understand how a Seller’s pride of ownership may cloud their objectivity. If the Seller has lived in the home for awhile, this may play a role in the negotiation. Personal attachment to a home may skew the Seller’s position on value.

 
  • A recent renovation or improvement  is always nice to see from a Buyer’s perspective, but the Seller will be trying to recoup as much of the investment as possible. Buyers who have been on the other side will certainly understand this, but with the help of your Realtor, and some realistic thinking on the Seller’s side, true value can be determined.

 
  • Smart Buyers understand that some Sellers may attempt to downplay or even conceal issues in the home and are looking at more than the overall aesthetics. Looking deeper into the condition of a home for evidence of any foundation problems or the need for roof repairs, for example, and asking appropriate questions will put Buyers in a good place to make a solid offer.

 
  • People list their homes for a multitude of reasons and Buyers are almost never privy to those reasons or underlying motivations. Most Sellers are prepared to behave reasonably at the negotiation table and do want to end up closing a sale on their home. Being prepared for some compromise on both sides is the key to buying and selling in the current market.

 

The Fall real estate market looks to be promising for Buyers and Sellers alike. Savvy Buyers on the hunt now, who can put themselves in the Seller’s shoes, will be in the best position to secure the home of their dreams. We look forward to helping you get there.


Happy House Hunting!


Christina Colton, Sales Representative

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This Month's Question:

Which listing/property is furthest east in the city?
 
The first five individuals to respond correctly will win a $10.00 gift card to Starbucks. Thank you and good luck!

Email your answers to: rachel@rachelhammer.com.
 
(Only one winner per household will be awarded a gift card and all previous winners must wait a minimum of 30 days before being able to win this trivia question)

 

Last Month's Question and Winners

Which of our current listings is named after a Canadian Olympic athlete?
Answer: Sue Holloway Drive
 

Congratulations to:

Steven B. Chris B., Tammy M., Leona F., and Wendy R. who correctly answered last month and won a $10.00 gift card to Starbucks.
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