Homeownership In Ottawa - Greg Hamre Real Estate
Posted by Leif Olson on Friday, January 22, 2021 at 11:20 AM
By Leif Olson / January 22, 2021
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The dream of homeownership is real!
My name is Greg from RE/MAX Affiliates in Ottawa. I spent this week on quite a few masterminds in some focus groups talking across Canada and across North America.
In Ottawa, we're, we're seeing a boom in real estate! We're seeing a shortage of inventory and you can think that it's just Ottawa, but it's not just Ottawa.
The major cities across the US and the major cities across Canada are feeling that same pressure on inventory.
Homeownership has really become a factor. When you look at age groups and you look at the baby boomers, which own 54% of the wealth in Canada. They are a large percentage of the buyers.
They have 33% of the home market.
The other group that really is impressing me is the millennials, the young professionals, their dream of homeownership is real!
They're trying to make it happen. And there's a bit of a surge or a bit and acceleration on this and I think it's pandemic related.
Oh my gosh, what is the best investment you can make?
The investment in a home is the best investment for your long-term wealth and for tax purposes.
But also you get to enjoy that lifestyle and live in your investment.
We're seeing, a lot of multiple offers this week. I'm talking double-digit people,10 offers! That means 90% of those people didn't get it.
That's not just one home, that's a lot of homes and that's in all the different price categories. ⚠️
You're seeing activity that's not normal for January, but December was also a historic month for volume.
It was, it was high volume. We have some really fabulous listings coming on this month and I'm talking fabulous.✨
⭐Some of them came on this week.
☀️We had a fabulous bungalow that came on. We've got a, really, a really nice two-story. That's just appeared today.
We've lined up our stagers, we have the best stagers who really get it. They're staging homes right now.
We have these new listings coming out next week, the week after, and, and even the first week of February.
So we're lining up the photographer. The best photographer! We get compliments on him all the time on our feedback and testimonials.
They love our photographer!
We're lining up our videos. So when we hit the market, we're ready.
The house we sold earlier this week.
Yeah, it was listed at $800,000 and it sold for $900,000, a hundred thousand over the asking price.
That's substantial!
That buyer was not in Ottawa. The buyer never saw the house in-person they bought it virtually from our videos, our storytelling videos really tell the story and allow a buyer to buy a home from the comfort of their own home, wherever they are.
In this case it was Toronto!
We are working with buyers from out of town. So we're working virtually too with our buyers, but we're seeing it happen daily, with our listings, which is phenomenal.
People are buying houses, sight unseen.
We were also involved in other purchases this week.
We won another, a bidding war. We represented the buyer where the buyer never saw the house.
We knew we should jump on it. We took advantage of it, sight unseen just from our experience with knowing the builder, knowing the neighborhood, knowing the community, knowing the quality.
I've got to give hats off to that really good listing agent. They don't fabricate the listing. There they're very accurate with the listing. So there was a trust with us because we knew we were dealing with another professional realtor.
It's very exciting times!
Ottawa , there's no slowdown in sight and this, this isn't a 30 day or a month or a year.
This is in place for the next 24 months.
They can't, they can't reproduce new homes. Fast enough, the infrastructure isn't in the ground, the materials aren't available.
So it's a lot of pressure on resale and we're seeing some great record pricing.
If you're not near a dream home right now, if you're not in your forever home, please reach out to us. Let's make that happen for you. Let's put something together.
Let's get into your forever home.
Let's get into your dream home.
Again, these are record-setting times. My name is Greg from RE/MAX Affiliates in Ottawa,We hope to see you soon.
Take care.
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