July 2014 - Purchase Plus Improvements program

July 2014 - Hammer Home News

Dear Friends

 

What a beautiful summer we are experiencing and an incredibly busy summer real estate market. I must admit its a busy one for July this year, with the harsh winter we experienced and the Ontario Election ending in June, we finally begin to see the market shape up to be a good and fierce one.

 

With all the increased amount of homes on the market now, I thought I would pass along some information about a great incentive program presented to me by one of my Mortgage Brokers, Andrew Thake who sums up a very interesting option for renovations and how to get the bank to assist you with a mortgage that can help with renovations. It is called the Purchase Plus Improvements program.  

 

Andrew describes this as an amazing way to take a home that you absolutely love, but perhaps it's missing one or two crucial items that you need in making them a possibility. Perhaps you need a fence for your dog or you'd love to have hardwood floors or granite countertops.  For dollars per month, you can look to add the items that you would like and have them completed to your exact desires.  

 

On the other hand, Andrew mentions that if you have a house that you are trying to sell that currently has a few items that need refreshing but you just don't have the resources to complete the renovations at this point. You can mention to interested buyers that the items could be done to their desire when purchasing and adding to their mortgage.  “You can work up to $40,000 of renovations into a mortgage at time of purchase and, as an example, a $10,000 renovation would cost you about $21 bi-weekly,” said Andrew.

 

Not only is Andrew happy to discuss this Purchase Plus Improvements program with you, but here are his top trending mortgage rates:

 

5 Year Fixed as low as 2.89%

5 Year Variable as low as 2.35%

 

Feel free to contact Andrew Thake, Ottawa Mortgage Man, from Dominion Lending Centres at 613-699-2006 ext. 12, or thru his website at ottawamortgageman.com


In the meantime, I wish you all a wonderful summer, enjoy your time with all your friends and family and I look forward to re-connecting with you again next month.

 

Sincerely,



Rachel Hammer

 



Pent up demand from the Spring adds to June sales

Ottawa, July 4, 2014 - Members of the Ottawa Real Estate Board sold 1,661 residential properties in June through the Board’s Multiple Listing Service® system, compared with 1,593 in June 2013, an increase of 4.3 per cent. The five-year average for June is 1,636.

“It is now very apparent that the long winter we experienced delayed the start of the normally busy spring market,” explains David Oikle, President-Elect of the Ottawa Real Estate Board. “As a result, we saw a higher demand going into June, and more homes switching hands. We’ve had a good May and June for residential sales, and average days on the market has held steady at 42 days.”


Read More...

Feature Listings
736 Nakina Way

Welcome to 736 Nakina Way, a generously sized 3 bedroom and 3 bathroom Richcraft Carlisle LE, built in 2007, that shows like a true model home.

Read More...
 
6716 Jeanne D'arc Blvd  Unit a

Welcome to this sweet two bedroom two bathroom condo, steps from public transit, shopping, schools and walking distance to the Ottawa river path.

Read More...
 
479 Grey Seal Circle

Welcome to 479 GreySeal Circle, This beautifully designed end unit by Urbandale Pacifica model has 4 bedrooms and 3 bathrooms.

Read More...
 
356 West Ridge Drive

Bright 4 bed home on a corner lot. Many upgrades in the home, including granite foyer, hardwood in living room and dining room, and ceramic tiles in kitchen and bathrooms.!

Read More...
 


This Month's Trivia Question:
 
In which one of the 4 listings above am I sitting outside on the front porch for my video tour?

The first five individuals to respond correctly will win a $10.00 gift card to Starbucks.

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.

Thank you and good luck!

 

 
Last Month's Trivia Question:
 
The Ontario election happened this month.  How many seats did the Liberals, Conservatives and NDP win respectively.

The Answer was: Liberals 53 seats, Conservatives 37 seats, NDP 17 seats

Congratulations to: Candice N., Jason G., Tim F., Sandra C. and Jamie G. were the first to correctly answer last month and win a $10.00 gift card to Starbucks.
 
 

Rachel Hammer, Broker
www.rachelhammer.com


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Our mailing address is: 1749 Woodward Drive, Ottawa ON K2C 0P9

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