Real Estate

Ottawa and Surrounding Area Real Estate market discussion

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  • Jan 17th, 2021 10:11 pm
[OP]
Deal Addict
Nov 26, 2004
2710 posts
931 upvotes
BlueSolstice wrote: Well, if they get a gift from their parents and bring the DP to 20%, they can pay CMHC premium and maybe get a slightly lower mortgage rate to offset the premium. Combine that with 10% from the government, it allows them to maybe upgrade from a stacked town to a 3 story town with no backyard. Or maybe they get the 5% from their parents, and use the 10% from government to offset the impact on stress test from student loans, and buy a home 3 months after they become a permanent employee, while they're still pay off their student loan. I see the 120k cap custom designed for new build market in Ottawa, for new grads.
I think your guess is as good as mine. At the end of the day, this only benefits the new home builders as I don't see there is much that the mom and pop real estate investor/speculators to take advantage of.
Member
Nov 10, 2014
392 posts
537 upvotes
Ottawa, ON
William W wrote: Do you know if they charge for a private street fees/Condo fees for their Village Towns?

I think Mattamy way overpriced initially, now they are coming with more reasonable pricing. Though, I will be upset if I bought on opening day a couple of years ago, but that's probably the danger of buying pre-construction as prices can go down as well.
audiorichard wrote: It is the fun part of real estate investment. No property is identical, there are always pros and cons for each property. For example, for the properties above, I personally prefer Wateridge village, here are the reasons:

1. The location is not as good, but it is not bad. it is still inside greenbelt in the new develop area, compare with Orlean or Kanata. This location is a lot closer.
2. It is brand new vs. 20-30 old property, the floor plan is more modern.
3. Even there are common fee (around $120 a month), but I don't see it will increase much.
4. There are lots of green space in Wateridge village. Since it is a newly develop area, therefore, there are room for builder to increase the price in the next phase.

Just a disclaimer, I do not plan to invest in Wateridge village or work for Mattamy. I am gather ideas and information.
The village towns are still considered freeholds, and only collect $63/month for private street maintenance. Being a freehold is a huge plus compared to their stacked town models (condos).

Mattamy definitely overpriced their offerings initially- but are stepping up their game. The rear lane town houses were really expensive last year, but they reduced the price to a more reasonable level by eliminating the rooftop terrace. I think the village homes are a nice addition to the mix and will sell well.

Of note, Mattamy Wateridge had a pre release sale for agents this morning, and will be releasing more units tomorrow. All the units released today were sold, and they increased the prices by $10k for all models.

I can see Wateridge area doing well as I'm not aware many low-rise new development within the green belt priced at 350~450k levels. The prices are now very comparable to new build town prices in Barrhaven and Kanata which have been sky rocketing. The new CMHC shenanigans should also help drive demand and prices for all new builds in this price range.
Member
Nov 10, 2014
392 posts
537 upvotes
Ottawa, ON
cyberfreak123 wrote: I do not plan to invest in Wateridge neither, or anywhere else. But I'm planning for my next home. Who else build in Wateridge? Is there any builder who makes house with inlaw suite in that area?
Claridge and Uniform also builds in Wateridge, but I haven't looked much into them as their prices are $$$.
[OP]
Deal Addict
Nov 26, 2004
2710 posts
931 upvotes
cyberfreak123 wrote: Anyone wants to try bidding on this property?
asking $349,900
https://www.ovlix.com/property/3EeTv7-2 ... -ON-K1G2K4
RFD group buy or RE investor club?Grinning Face

I think it is going to hit at least $50k over asking. If not I will be concern with the health of the market.

There is another one under $400k in Elmvale.

https://www.realtor.ca/real-estate/2044 ... vale-acres

And for those who wants to get in at Beacon Hill North.
https://www.realtor.ca/real-estate/2044 ... hill-north
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User avatar
Jan 9, 2007
3949 posts
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mself084 wrote: Curious what you think about this one in Stittsville, near the CTC -> https://www.realtor.ca/real-estate/2040 ... tittsville?

Priced high, or is that what $529k gets you now in the suburbs?

Disclaimer: we're listing in the spring and our house is comparable.
skeet50 wrote:
I think the price is ambitious. Less than 2000 sq feet on a small lot. Especially when compared to this listing just a couple of streets away: https://www.realtor.ca/real-estate/2034 ... tittsville. This home is listed for only $20k more, on a much larger lot with a double car garage and a finished walk-out basement.
Update: conditionally sold in under two weeks. Eep. Wonder how much it went for... Guess we'll see.
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Jan 15, 2017
3617 posts
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mself084 wrote: Update: conditionally sold in under two weeks. Eep. Wonder how much it went for... Guess we'll see.
That's great news for the sellers, and for you also.

I hope this is a sign that there is finally some price gains in the detached market. When you consider what some towns are fetching these days, detached homes should be doing well also.
Sr. Member
Aug 6, 2011
590 posts
261 upvotes
BiegeToyota wrote: How?

BTW, love the RFD abbreviations
the only way i know is working with an agent to get the sold price in ottawa. i get it through a MLS portal
Deal Addict
Dec 23, 2010
1849 posts
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Moon
mself084 wrote: Update: conditionally sold in under two weeks. Eep. Wonder how much it went for... Guess we'll see.
I was watching that house for a while. Will inform you guys of the sold price.
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May 23, 2017
1003 posts
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Regarding Mattamy Wateridge: anyone know how approx. many years it will take to fully develop that community? It seems like a decently large area of land in total with multiple developers building there, so I'm wondering how long people who move in during the early phases will have to live in a construction zone.

Anyways, I agree that their new lowered prices definitely make the units much more attractive. However, comparing the stacked vs. village townhomes, I'm confused at the prices. The most expensive stacked townhome is the same price as the cheapest village townhome (square feet is comparable, same # of bedrooms/bathrooms). But with the village townhome, you get a garage + driveway (I don't know how many outside parking spots you get included with the purchase of a stacked). And presumably it's a freehold instead of condo (although there are still private road fees). Plus one less neighbour (since you don't have someone living below/above you). Am I missing something here? I can't see why anyone would want to buy a stacked instead of village for the same price.
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Jan 9, 2007
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skeet50 wrote: That's great news for the sellers, and for you also.

I hope this is a sign that there is finally some price gains in the detached market. When you consider what some towns are fetching these days, detached homes should be doing well also.
Fingers crossed! I mean, they could have just found the right buyer at the right time, but you never know. Would be nice to get something similar when we list next month.
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Member
Jun 15, 2009
408 posts
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Nepean
Was at Wateridge yesterday and all village homes were sold out in no time (released 20 over 2 days). There was a line up and people stayed overnight to buy. When I asked to put my name down in the list, I was told there are over 80 people in the list who missed out or looking to buy...

jk9088 wrote: Regarding Mattamy Wateridge: anyone know how approx. many years it will take to fully develop that community? It seems like a decently large area of land in total with multiple developers building there, so I'm wondering how long people who move in during the early phases will have to live in a construction zone.

Anyways, I agree that their new lowered prices definitely make the units much more attractive. However, comparing the stacked vs. village townhomes, I'm confused at the prices. The most expensive stacked townhome is the same price as the cheapest village townhome (square feet is comparable, same # of bedrooms/bathrooms). But with the village townhome, you get a garage + driveway (I don't know how many outside parking spots you get included with the purchase of a stacked). And presumably it's a freehold instead of condo (although there are still private road fees). Plus one less neighbour (since you don't have someone living below/above you). Am I missing something here? I can't see why anyone would want to buy a stacked instead of village for the same price.
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Nov 11, 2004
3171 posts
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Ottawa
What do you guys think of Merrickville?
Hello
Member
Nov 10, 2014
392 posts
537 upvotes
Ottawa, ON
ghasita wrote: Was at Wateridge yesterday and all village homes were sold out in no time (released 20 over 2 days). There was a line up and people stayed overnight to buy. When I asked to put my name down in the list, I was told there are over 80 people in the list who missed out or looking to buy...
That is insane...
Seems like Mattamy seriously underestimated demand, release too few lots, and under priced their offerings. Wonder how they will price their next offering.
Sr. Member
Aug 6, 2014
830 posts
295 upvotes
Ottawa, ON
open house in carlington yesterday had a lineup of people going down the driveway waiting to get in and take a look.
Sr. Member
Aug 6, 2014
830 posts
295 upvotes
Ottawa, ON
merrickville is awesome in summer, dead in winter, and has a bus that goes downtown once a day i think.
Sr. Member
Aug 6, 2011
590 posts
261 upvotes
fisher44 wrote: open house in carlington yesterday had a lineup of people going down the driveway waiting to get in and take a look.
what property was it?
Sr. Member
Oct 2, 2017
702 posts
489 upvotes
Tadalafil wrote: That is insane...
Seems like Mattamy seriously underestimated demand, release too few lots, and under priced their offerings. Wonder how they will price their next offering.
or did they?
I'll see you at the top, cause the bottom is too crowded
Member
Nov 10, 2014
392 posts
537 upvotes
Ottawa, ON
ghasita wrote: Was at Wateridge yesterday and all village homes were sold out in no time (released 20 over 2 days). There was a line up and people stayed overnight to buy. When I asked to put my name down in the list, I was told there are over 80 people in the list who missed out or looking to buy...
Btw what was the list for? A waiting list to get a house if one of the buyers back out of their purchase, or to get first dibs on the next release?

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