Real Estate

Ottawa and Surrounding Area Real Estate market discussion

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  • Mar 27th, 2024 9:53 pm
Deal Addict
Sep 2, 2009
2978 posts
3020 upvotes
Ottawa
fisher44 wrote: one other question - the broker of record for this 'James Tasca' - do you think this guy is obligated in anyway to list this house (ie has no say in the matter), or is he just jumping on the seller's bandwagon and doing this without thinking. If it's just some guy who thinks this is a great idea i'm considering writing him saying i'll never do business with him in the future. there should be be some kind of consequence (however minor) for this kind of stupidity.
I think it's a 'for sale by owner' type scenario where you get a flat fee or much lower commission to provide service and help but not directly get involved unless needed.

From their website: "Our Team of Leading Commercial Real Estate Professionals Will Guide You Through the Process of Buying, Selling or Leasing Your Commercial Property"
Sr. Member
Aug 22, 2016
626 posts
408 upvotes
fisher44 wrote: one other question - the broker of record for this 'James Tasca' - do you think this guy is obligated in anyway to list this house (ie has no say in the matter), or is he just jumping on the seller's bandwagon and doing this without thinking. If it's just some guy who thinks this is a great idea i'm considering writing him saying i'll never do business with him in the future. there should be be some kind of consequence (however minor) for this kind of stupidity.
This is not the first time gimmickry. In GTA when the house prices were on the upward trajectory around 2012, this used to be a regular practice. I used to think these are distress sales where the buyer will own some liability. After one open house visit, I realized this is one of those smart strategy of very smart realtors to fool a potential buyer. A rarity in Ottawa but with the red hot sales last year with lot of buyers from GTA, we might see more of those type sales.
Deal Addict
Nov 13, 2013
4520 posts
3685 upvotes
Ottawa
fisher44 wrote: i think it's a dumb gimmick. a bunch of poor people who don't understand how the process works are going to suddenly have a glimmer of hope, put together their savings, waste their time bidding $150k on this and then be disappointed. all of this could be avoided if the seller just acted like a reasonable person. put your house on ebay with no reserve if you want to go this stupid route.
Yeah I'm tempted to contact the selling agent and submit a $50,000 offer just to waste their time as much as they are wasting the time of the people you describe.

Anyway haven't we wasted enough time on these idiots?
Some good news the past few weeks so what does Summer market look like if things are back to normal? I would think crazy bidding wars and a +20% year. Maybe even more from euphoria and still a lag in listings.
Deal Expert
Oct 30, 2006
16321 posts
7966 upvotes
Anyone Who Writes Regular Sentences in Title Case is Clearly Honest and Upstanding. Make Your Offer Today.
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Sr. Member
Aug 6, 2014
830 posts
300 upvotes
Ottawa, ON
fogetmylogin wrote: Yeah I'm tempted to contact the selling agent and submit a $50,000 offer just to waste their time as much as they are wasting the time of the people you describe.
more like put in a conditional $1M offer and then walk away because your psychic said there are serious foundation issues. the seller will have to disclose that going forward, right?
Sr. Member
May 6, 2012
863 posts
649 upvotes
KANATA
Any self respecting agent would not submit a 150k offer for a 400k worth of property in this situation, so if we assume all the agents are professional and not stupid, all the offers would not deviate off 10% of what the property is really worth. Except there are other games going on here.
Deal Addict
Sep 2, 2009
2978 posts
3020 upvotes
Ottawa
welcomelm wrote: Any self respecting agent would not submit a 150k offer for a 400k worth of property in this situation, so if we assume all the agents are professional and not stupid, all the offers would not deviate off 10% of what the property is really worth. Except there are other games going on here.
That depends if the agent even knows how to assess the value of a property without valid comparables. Do you go back 2 weeks? 3 months (which is usual of an "official" appraisal)? 1-2-3 years? Look at trends? Cashflow analysis for an investment?
Deal Addict
Nov 13, 2013
4520 posts
3685 upvotes
Ottawa
welcomelm wrote: Any self respecting agent would not submit a 150k offer for a 400k worth of property in this situation, so if we assume all the agents are professional and not stupid, all the offers would not deviate off 10% of what the property is really worth. Except there are other games going on here.
10% is way low. That is barely even a lowball offer and who knows what this place is worth. Maybe not $150k but if it comps in February were $400k it could easily sell for $300k, or $405k frankly. In normal times there are niche properties that sell for 25% less than initial estimates.
Sr. Member
Jul 15, 2019
724 posts
588 upvotes
William W wrote: It depends on what's your budget and your objective.

If you're going for appreciation/value, I will look at Longwood and get a double car garage detached single for an extra $30k.

If you're going for cash flow, I will look into Olympia Home as they are selling their Towns for $20k less. I think the difference in rent between a Cardel Town vs an Olympia Town will be less than $50/month.

Don't get me wrong, I do like Cardel's layout and floor plans better, but if you're not going to live in it yourself, I believe there are better options for new construction at Carleton Place.

Why do you believe Longwood would appreciate better? Are they selling their houses cheaper than other builders? What’s your take on Longwood in rockland?
Deal Addict
Nov 26, 2004
4460 posts
4122 upvotes
freeman93 wrote: Why do you believe Longwood would appreciate better? Are they selling their houses cheaper than other builders? What’s your take on Longwood in rockland?
For whatever reasons, I found Longwood to be selling their homes cheaper than other builders, at least at Carleton Place. When you look at their pricing of similar square footage homes, they are at least 10% cheaper than Cardel and 5-7% cheaper than Olympia Homes for Singles. In my opinion, once the homes are delivered, wait a couple of years, the builder who built the homes are not as important. Thus, the price gap should narrow.

I haven't looked into Rockland extensively, but if I were buying there, I will definitely inquire about pricing of other builders who are building in Morris Village. But if we were to compare EQ Homes' pricing at Clarence Crossing, Longwood is definitely a bargain.
Sr. Member
Jul 15, 2019
724 posts
588 upvotes
I've looked at other builders, and yes Longwood seems to be more on the bargain side. However, their standard feature list is a little bit less extensive. However, as I've looked and as you've mentioned comparing the two brings one true winner in bang for your buck.

I like that you brought up the point that within a few years the builder would no longer matter, I guess its more the square footage and your land at that time that matters? EQ runs about $50-70K more and even more sometimes for the same square footage home.

Thanks for your insight :)
Sr. Member
May 6, 2012
863 posts
649 upvotes
KANATA
freeman93 wrote: I've looked at other builders, and yes Longwood seems to be more on the bargain side. However, their standard feature list is a little bit less extensive. However, as I've looked and as you've mentioned comparing the two brings one true winner in bang for your buck.

I like that you brought up the point that within a few years the builder would no longer matter, I guess its more the square footage and your land at that time that matters? EQ runs about $50-70K more and even more sometimes for the same square footage home.

Thanks for your insight :)
I guess for some builders like uniform, the glow will last little longer.
Deal Addict
Nov 13, 2013
4520 posts
3685 upvotes
Ottawa
welcomelm wrote: I guess for some builders like uniform, the glow will last little longer.
Agree their houses are a step higher in quality but I don’t imagine that much of it is the name. Better materials and better design are clear to anyone looking.
Deal Addict
Nov 26, 2004
4460 posts
4122 upvotes
I suppose I'm hijacking my own thread, but I was doing some research, I guess an equivalent new built in Ottawa would have been at least $150k if not $200k more. And look at the list of upgrades that comes at that price.

https://mattamyhomes.com/edmonton/commu ... /1067.aspx

Too bad the flight to Edmonton is so expensive and it is not exactly the most exciting city in Canada. Otherwise, at that price, I wouldn't mind buying it as a vacation home and renting it out as Airbnb when I'm not there.
Deal Guru
User avatar
Jun 28, 2003
12181 posts
5650 upvotes
Ottawa
The owner for this property was previously asking $2,100 utilities included for the 3 bedroom upstairs and $1,950 utilities included for the 2 bedroom in the basement on various Ottawa FB Buy/Rent/ groups. I know the location is fantastic but with the uncertainty facing the students now, I thought what she wanted to get is on the higher side.

She has since dropped the asking to $3K + utilities, which is a significant drop from what she was asking earlier. I wonder if she wasn't getting the amount of interest she was looking for and need to find tenants asap, hence the immediate steep drop.

https://www.redfin.ca/on/ottawa/2306-Ry ... /148906339
Deal Fanatic
Jan 15, 2017
5749 posts
6121 upvotes
Ottawa
William W wrote: I suppose I'm hijacking my own thread, but I was doing some research, I guess an equivalent new built in Ottawa would have been at least $150k if not $200k more. And look at the list of upgrades that comes at that price.

https://mattamyhomes.com/edmonton/commu ... /1067.aspx

Too bad the flight to Edmonton is so expensive and it is not exactly the most exciting city in Canada. Otherwise, at that price, I wouldn't mind buying it as a vacation home and renting it out as Airbnb when I'm not there.
We had been exploring Calgary as a possible relocation and noticed that Mattamy had some great deals on early occupancies, like the one below with an $118k discount. I always find it interesting to see what is happening in other major cities and whether it could happen in Ottawa.

https://mattamyhomes.com/calgary/commun ... 28-32.aspx
Deal Addict
Nov 26, 2004
4460 posts
4122 upvotes
skeet50 wrote: We had been exploring Calgary as a possible relocation and noticed that Mattamy had some great deals on early occupancies, like the one below with an $118k discount. I always find it interesting to see what is happening in other major cities and whether it could happen in Ottawa.

https://mattamyhomes.com/calgary/commun ... 28-32.aspx
I think it happened in Ottawa 6-7 years ago. I remember seeing some great deals at Monahan Landing by Mattamy on their Quick Move In homes section as well. So yes it is possible, and it could happen in 2023/24 as well. But I believe there is still some growth in prices between now and the coming "ice age".

And interestingly, last summer, I almost pull the trigger for one of their Village Homes at Cityscape as they were selling them for $259k. Fortunately, I took my time thinking about it, and the quick occupancy home I was interested in got sold to another buyer.
Sr. Member
Aug 6, 2014
830 posts
300 upvotes
Ottawa, ON
welcomelm wrote: Any self respecting agent would not submit a 150k offer for a 400k worth of property in this situation, so if we assume all the agents are professional and not stupid, all the offers would not deviate off 10% of what the property is really worth. Except there are other games going on here.
i'm not going to assume agents are professional and when they're listing houses for $1
Deal Fanatic
Jul 4, 2004
7429 posts
4675 upvotes
Ottawa
fisher44 wrote: i'm not going to assume agents are professional and when they're listing houses for $1
As mentioned above, the property is a "for sale by owner" listing. No agent involved other the broker who simply lists it on MLS (basically the same thing as a PurpleBricks listing).
Sr. Member
Aug 6, 2014
830 posts
300 upvotes
Ottawa, ON
michelb wrote: As mentioned above, the property is a "for sale by owner" listing. No agent involved other the broker who simply lists it on MLS (basically the same thing as a PurpleBricks listing).
thanks for the clarification!

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