Real Estate

Ottawa Real Estate market discussion

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Deal Addict
Nov 13, 2013
2347 posts
1142 upvotes
Ottawa
BlueSolstice wrote: Rockcliffe park has been consistently lagging behind rest of Ottawa. The sample size is small for a particular month, but over time, I think we can say that east of DT is lagging behind west, all things taken into account.
The east west thing is probably true though seems to be moderating. These averages are a very rough estimate but the price appreciation has slowed down a bit. Mostly it seems the cheaper neighbourhoods have increased more. The bottom of the list are basically all the "best" areas of the city.
Deal Guru
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Jun 28, 2003
10139 posts
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Ottawa
leftygrove wrote: I was going to say check with your home inspector, as they sometimes take note/have insight into such things. If you don't receive a bill in the next 3 months for a rental fee, seems you're in the clear and it's owned.

More importantly, I think you're being way too nice here..

Your agent should have made sure details regarding the hot water tank were spelled out in the paperwork you signed! Considering how much $$ they likely made off of your transaction, asking them to dig around and make a few more phone calls on your behalf isn't asking a whole lot IMHO.
Thanks. I talked to a neighbour and got name of a company, which I will call tomorrow to inquire. I just don't want to receive a huge bill after a few months of sitting around and not doing anything...I am a planner and I like to be proactive.

Yes I agree my agent should have done more due diligence on this one. He has been good to me in other aspects so I can overlook this and I don't mind doing some investigative work myself.
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Deal Addict
Dec 4, 2016
1858 posts
884 upvotes
fogetmylogin wrote: The east west thing is probably true though seems to be moderating. These averages are a very rough estimate but the price appreciation has slowed down a bit. Mostly it seems the cheaper neighbourhoods have increased more. The bottom of the list are basically all the "best" areas of the city.
On a second look, the high end/low end divide does seem to be more pronounced than the east/west divide. Perhaps the high end will start moving once people start moving up with their new found equity.
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Feb 2, 2014
8329 posts
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Toronto
canabiz wrote: Thanks. I talked to a neighbour and got name of a company, which I will call tomorrow to inquire. I just don't want to receive a huge bill after a few months of sitting around and not doing anything...I am a planner and I like to be proactive.

Yes I agree my agent should have done more due diligence on this one. He has been good to me in other aspects so I can overlook this and I don't mind doing some investigative work myself.
You don't recall if it was listed in the "owned" or "rental" section of the APS? Check page 2 if you have a copy.

Give a call to the listing agent if not, he should know.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Addict
Sep 24, 2010
1921 posts
215 upvotes
Has anyone sold a property where the mortgage is transferred to the new buyer? I assume banks have to qualify the new buyer but if the seller still assumes the responsibility, are banks okay with it?
Sr. Member
Jun 7, 2017
944 posts
678 upvotes
BC
That easy! Ask the person who sold it to you.
BTW, if you did not agree, then a rental is not your problem. You would be much better off owning rather than renting.
Sr. Member
Aug 3, 2017
606 posts
423 upvotes
ahato wrote: Has anyone sold a property where the mortgage is transferred to the new buyer? I assume banks have to qualify the new buyer but if the seller still assumes the responsibility, are banks okay with it?
Haven't sold one this way, but I did buy one a few years back and did an assumption of the existing mortgage. The owners had a competitive rate and it was a matter of qualifying and if I recall was fairly simple otherwise.
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Dec 27, 2009
7080 posts
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Victoria, BC
ahato wrote: Has anyone sold a property where the mortgage is transferred to the new buyer? I assume banks have to qualify the new buyer but if the seller still assumes the responsibility, are banks okay with it?
Why on Earth would a seller assume that responsibility? Are you talking about a parent selling to their child or something (the only situation I could possibly see a seller still assuming the responsibility)?
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May 12, 2004
9759 posts
4113 upvotes
Ottawa
BlueSolstice wrote: Rockcliffe park has been consistently lagging behind rest of Ottawa. The sample size is small for a particular month, but over time, I think we can say that east of DT is lagging behind west, all things taken into account.
Rockliffe Park should not even be mentioned on that list. I'd say 90% of deals in RP are off-market so your sample size is not just small, it's a tiny subset of a small sample.

Again these stats are useless without knowing the amount of inventory that changed hands for each district and keeping us in the dark is by design.
Censorship is telling a man he can't have a steak just because a baby can't chew it.
- Mark Twain
Sr. Member
Aug 6, 2011
590 posts
261 upvotes
Lone_Prodigy wrote: South because of LRT and West due to the DnD move?

Stittsville seems awfully high.
High tech are doing fantastic in the West

I'm surprised Overbrook/Castleheights are in the 429K, on par or higher than few other places. average price distorted by new infills ?
Deal Guru
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Jun 28, 2003
10139 posts
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Ottawa
CdnRealEstateGuy wrote: You don't recall if it was listed in the "owned" or "rental" section of the APS? Check page 2 if you have a copy.

Give a call to the listing agent if not, he should know.
I reviewed the APS again and the hot water tank is listed in the rental section but here is where the plot thickens

I asked a neighbour what company he dealt with for hot water tank and he said it is Harding (a local heating and cooling Ottawa company). I called them and they have no record of this address on file.

I then called Enercare who is another major hot water tank rental company and they also do not have any record of this address. So Reliance = No, Harding = No and Enercare = No.

I do know the name of the previous owner from the APS but I do not have her contact information (phone or email). I will ask the listing agent if I can obtain that information, as a last resort.

This one is bugging me as I can just sit idly by and if I do not receive any bill in the next 3 months then I am in the clear but I like to be proactive and get a handle on things...
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Deal Addict
Dec 4, 2016
1858 posts
884 upvotes
Cas77 wrote: Rockliffe Park should not even be mentioned on that list. I'd say 90% of deals in RP are off-market so your sample size is not just small, it's a tiny subset of a small sample.

Again these stats are useless without knowing the amount of inventory that changed hands for each district and keeping us in the dark is by design.
Interesting, but not surprised. Someone should make a movie about this. It would certainly make Ottawa a lot more interesting.
Deal Addict
Dec 4, 2016
1858 posts
884 upvotes
cyberfreak123 wrote: High tech are doing fantastic in the West

I'm surprised Overbrook/Castleheights are in the 429K, on par or higher than few other places. average price distorted by new infills ?
Tech recovery is indeed helping the west, in addition to DND relocation. The prices are benchmark, not average, so I'm not sure what they're affected by. Keep in mind that data for specific areas can be noisy, due to small sample sizes.
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Feb 2, 2014
8329 posts
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Toronto
canabiz wrote: I reviewed the APS again and the hot water tank is listed in the rental section but here is where the plot thickens

I asked a neighbour what company he dealt with for hot water tank and he said it is Harding (a local heating and cooling Ottawa company). I called them and they have no record of this address on file.

I then called Enercare who is another major hot water tank rental company and they also do not have any record of this address. So Reliance = No, Harding = No and Enercare = No.

I do know the name of the previous owner from the APS but I do not have her contact information (phone or email). I will ask the listing agent if I can obtain that information, as a last resort.

This one is bugging me as I can just sit idly by and if I do not receive any bill in the next 3 months then I am in the clear but I like to be proactive and get a handle on things...
Ask the LISTING agent (seller's agent). If the agent is half decent, he should have it when he did the due diligence on the property.

PM me the address and I'll give you their contact info. It should also be on page 5 of the APS.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative

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