Real Estate

Ottawa Real Estate market discussion

  • Last Updated:
  • Nov 28th, 2020 1:13 am
Sr. Member
Nov 6, 2007
661 posts
172 upvotes
z613 wrote: Whats up with 63 Beacon Way? Single 4 bed, double garage on pie lot for 561k lol. Even i would have paid more...
arbytor wrote:
some older houses selling at mid 2019 prices. not sure what is going on. One more lucky buyer.
Surprised by the price as well. 3 bedroom towns are going for more then this in Kanata. In Morgan's Grant, close but isolated from the traffic noise on Terry Fox and really close to the conservation area. So not a bad area either.

Older home, needs a lot of work. But the kitchen and baths looks to be recently renovated with granite, cabs, vanities and stainless appliances.

It does look to have a very awkward layout though with all the twist and turns and nooks ... That may have turned people off.

This maybe indicating that Kanata land / lots are not worth / valued as much as one may think. Rather it's costly labor and renovations driving up the value (aka polished new builds).
Deal Guru
Oct 30, 2006
14719 posts
4132 upvotes
Depending on the closing date, maybe the potential buyer would have to move in during the winter and/or have the renovations done in cold weather.

Edit: actually doesn't look too bad at first glance. Kitchen was already redone. Maybe the roof and windows need work as it's a 25 year old home.

I remember looking at a house a couple years ago that had a terrible looking roof. Was in the area recently and went by; roof looked even worse.
TripleQ wrote:I read Click magazine for the articles!
Deal Fanatic
Jul 4, 2004
5708 posts
1769 upvotes
Ottawa
arbytor wrote: some older houses selling at mid 2019 prices. not sure what is going on. One more lucky buyer.
I think it's just the price these are selling for. It's $52k above 45 Beacon Way which sold for $509k at the start of the summer which was pretty comparable (although 63 shows better IMO). They don't look huge from the picture so perhaps that's turning potential buyers off. Maybe there's just not that much demand for Morgan's Grant and buyers are looking for a newer communities South of 417.
Member
Aug 22, 2016
365 posts
200 upvotes
michelb wrote: I think it's just the price these are selling for. It's $52k above 45 Beacon Way which sold for $509k at the start of the summer which was pretty comparable (although 63 shows better IMO). They don't look huge from the picture so perhaps that's turning potential buyers off. Maybe there's just not that much demand for Morgan's Grant and buyers are looking for a newer communities South of 417.
Hard to figure out the market. I have seen houses sold for much higher prices than the mid 2019 prices in Morgan's Grant so, I wouldn't say there is not much demand in that area. My point is there are few weeks every few months the sellers market switches and buyers get lucky and land on nicer houses for well below the market price. I grabbed one around Nov 2019 when my lucky turn came.
If it is a repeat of winter 2019, I would say the prices will fluctuate a lot and buyers have to keep a close eye on the listing if they are desperately looking for a great deal.
Newbie
Sep 29, 2013
84 posts
44 upvotes
Truly seems like luck and timing I feel. Depends on the mood of the buyers that week and what other competition there is at the time. I cant really make sense of it some weeks.
Deal Guru
User avatar
Jun 28, 2003
10126 posts
3226 upvotes
Ottawa
jk9088 wrote: Thanks, very helpful and much appreciated. I am still trying to work out the best way to weed out people who aren't truly interested (and just wasting my time), without being too overly stringent and potentially discouraging quality tenants from viewing the place. Definitely a balancing game. Will keep your suggestions in mind next time we need to go through the process! And hope you find another set of tenants soon (that will hopefully stay longer).
Something that I have seen other landlords using in their ads is they want potential tenants to fill out an application first and will only book showings for accepted applications to minimize the traffic, due to COVID restrictions.

Make a lot of sense if you ask me. You also have the contact information for the ones who walk through your door, for contact tracing purposes. I know we are pushing the envelope a bit here but if this means filtering out the time wasters and the tire kickers then so be it.
[removed]
Sr. Member
Sep 4, 2006
762 posts
391 upvotes
Ottawa
It would probably benefit this thread to split the rental posts from the real estate. There are more than enough rental posts to merit a separate thread.
Member
Feb 7, 2018
251 posts
318 upvotes
nikkis4 wrote: Does anyone know why the price of this condo went up by $30K over 8 days?

I was planning to put in an offer and it's super frustrating to see it's been increased.

https://www.realtor.ca/real-estate/2249 ... sandy-hill
I’m guessing they were hoping for a bidding war that didn’t pan out. Similar unit on a higher floor sold a few weeks ago at 320k. Studios in those buildings are going for 300-310k so I don’t know why you’re expecting to get a 1bed for less than that.
Newbie
Oct 9, 2020
5 posts
1 upvote
i also noticed few houses went up in price in few days .. so what is the story?
Deal Guru
User avatar
Jun 28, 2003
10126 posts
3226 upvotes
Ottawa
jayoldschool wrote: It would probably benefit this thread to split the rental posts from the real estate. There are more than enough rental posts to merit a separate thread.
I don't necessarily disagree with you but it could be a slippery slope, in the sense that we may have 2 separate threads, 1 for rental property investment and 1 for general real estate discussion, for each of the major city in the country in this sub-forum and I am not sure if that's what the moderators have in mind (more threads = more time and efforts to moderate)

I will be the first to admit I have more interest on the rental side of the fence than the real estate side, which is part and parcel, if you ask me. I fully understand not everyone who checks out this thread has an interest to be a landlord and I try to keep my discussions measured and on topic but let me know if you think that can be overwhelming and I am more than happy to take a backseat and let folks discuss about prices for a certain property and area.
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Deal Guru
Oct 30, 2006
14719 posts
4132 upvotes
IMO this thread moves slowly enough to not require a split.
TripleQ wrote:I read Click magazine for the articles!
Sr. Member
Sep 4, 2006
762 posts
391 upvotes
Ottawa
Below highlights the exact problem. Most rental posts aren't about investment. They are about tenant issues and vetting tenants.
canabiz wrote: I don't necessarily disagree with you but it could be a slippery slope, in the sense that we may have 2 separate threads, 1 for rental property investment and 1 for general real estate discussion, for each of the major city in the country in this sub-forum and I am not sure if that's what the moderators have in mind (more threads = more time and efforts to moderate)

I will be the first to admit I have more interest on the rental side of the fence than the real estate side, which is part and parcel, if you ask me. I fully understand not everyone who checks out this thread has an interest to be a landlord and I try to keep my discussions measured and on topic but let me know if you think that can be overwhelming and I am more than happy to take a backseat and let folks discuss about prices for a certain property and area.
Sr. Member
Sep 4, 2006
762 posts
391 upvotes
Ottawa
Lone_Prodigy wrote: IMO this thread moves slowly enough to not require a split.
Perhaps it would speed up if people that wanted to discuss Ottawa real estate didn't have to read pages about how to vet tenants?
Sr. Member
May 23, 2017
806 posts
543 upvotes
Lone_Prodigy wrote: IMO this thread moves slowly enough to not require a split.
I agree, I also think there would be a lot of overlap as discussion about price increases, general trends, mortgage rates/rules, sale volumes, city developments etc. would be very relevant to both sides. I think it's easy enough to just ignore the posts that aren't relevant?

However, if people find it too distracting I wouldn't mind having a split thread, I would just follow both threads since I do have interest in both.

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