Easy Canadian Mortgage Calculator

Easy Canadian Mortgage calculator taken from our Ottawa Real Estate Board web site. Hope this is helpful.
http://orebweb1.oreb.ca/calc/frm_calc_mortgage.html

Calculating Land Transfer Tax

If you are wanting to know what your land transfer tax is here is a simple calculator link to have on file.
http://orebweb1.oreb.ca/openhouses/frm_openhouses.html

Open house listings

To find out what new open houses are being held weekly or even to check daily here is a great link to have on file.
http://orebweb1.oreb.ca/openhouses/frm_openhouses.html

Housing Starts in Canada

Housing starts slower than in previous years, here is an interesting article from Mortgage Brokers Ottawa.com http://www.mortgagebrokersottawa.com/_documents/news/cmhcmcs2009.pdf

July 2009 edition of CMHC's Monthly Housing Stats

To see what is happening in the Canadain market and be truly up to date on Canadian Stats here is a great resource. http://www.cmhc-schl.gc.ca/odpub/esub/61512/61512_2009_M07.pdf

Ottawa Real Estate Market update for May 2009

Great article from the Ottawa Real estate board showing what is happening with our market. If interested in buyingor selling please feel free to give me a call.



Record-breaking number of resale homes sold in May
June 3, 2009 : Record-breaking number of resale homes sold in May
Members of the Ottawa Real Estate Board sold 1,969 residential properties in May through the Board’s Multiple Listing Service® system compared with 1,896 in May 2008, an increase of 3.9 per cent. That number also represents a 19 per cent increase over the 1,594 sales recorded in April 2009.
Of those sales, 348 were in the condominium property class, while 1,621 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“This was the best May on record for residential resale home sales in Ottawa,” said Board President Rick Snell. “Homes in every price range are selling well, from starter homes to luxury properties. Homebuyers and sellers are showing a lot of confidence in the Ottawa real estate market,” he added.
The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $312,045, an increase of 5.3 per cent over May 2008. The average sale price for a condominium-class property was $231,351, an increase of 4.6 per cent over May 2008. The average sale price of a residential-class property was $329,368, an increase of 4.7 per cent over May 2008. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
The Ottawa Real Estate Board is an industry association of 2,400 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.

My monthly Newsletter

I have a very informative monthly newsletter that I send out on a regular basis. If you are interested in recieving a copy please drop me a line and I would gladly send you a copy. Have a great day. Email me at john@johnbakker.com.

Twitter account up and running

To get an up to date account of what is going on with the market check out my Twitter account https://twitter.com/johnbakker Have a great day

If interested in finding out what is happening in your neighbourhood for sales, sales history or simply looking at buying or selling real estate please give me a call and I would gladly be of service. Talk soon.

John Bakker
Sales Representative
Keller Williams Ottawa Realty, Brokerage
610 Bronson Ave.Ottawa, Ont.
Cell: 613-229-3214
Direct 613-788-2510
Fax 613-788-2511
Email jbakker@kwottawa.ca
Web Site www.JohnBakker.com

Here is a little bit of information that may be of interest for the transit commuters in Ottawa concerning the proposed downtown Ottawa Transit tunnel between Tunney's pasture to Blair Station via Downtown. Source is the City of Ottawa web site.

Identifying a solution from the core out has guided the development of a new transit vision for Ottawa. A transit tunnel through the downtown is the key feature of the new Rapid Transit Network, and is among the priority projects approved by Council by a vote of 22-2 on November 28, 2008.
The tunnel will bring a faster, more efficient, environmentally friendly and world-class - transit system to Ottawa.
The Downtown Ottawa Transit Tunnel Planning and Environmental Assessment (EA) study, to be completed by January 2010, is the first step in making the downtown tunnel a reality.
The Tunnel study will determine how we build light rail transit between Tunney’s Pasture Station and Blair Transit Station on the existing Transitway and will identify the routing of the tunnel section through the downtown core. In addition, the study will recommend where stations will be located, how transit riders will be able to access the tunnel from the street, how the stations will look from an urban design perspective and finally how the stations will be integrated with existing buildings.

If you want to know what is happening in Ottawa for construction check out the city of Ottawa's 2009 Major Capital Construction Projects at this link. Enjoy the summer and happy driving.

http://city.ottawa.on.ca/residents/major_projects/infrastructure/index_en.html

If thinking of going to the beach in Ottawa check this site out for the latest updates.

http://city.ottawa.on.ca/residents/health/inspections/beaches/updates_en.html

Bes tof luck and enjoy our beautiful Otttawa summer.

Keller Williams Ottawa reaches 250 Agents

Keller Williams Ottawa Realty as of this past week has reached a milestone of licenced realtors in one real estate office, 250 agents. Give me a call and see why KW Ottawa is so popular amongst agents and why we are the fastest growing office in Ottawa and why Keller Williams International is surpassing all expectations.

Bank of Canada to hold rate at record low until 2010

Great imes to be looking at buying real estate with interest rates this great we may never see rates this low ever again.

John Bakker


April 21, 2009
Bank of Canada to hold rate at record low until 2010 By Paul Vieira, Financial PostApril 21, 2009 10:01 AM The Bank of Canada cut its trendsetting interest rate by a quarter point to 0.25 per cent on Tuesday in its latest move to free up credit amid a global recession.OTTAWA - The Bank of Canada cut its benchmark-lending rate Tuesday by another quarter point to 0.25 per cent, and signalled it would keep it there until the end of June of next year based on its tepid inflation forecast.

Moreover, it has revised downward its outlook for the economy, forecasting a contraction of three per cent for 2009, followed by growth of 2.5 per cent next year. Previously, it had indicated the economy would shrink 1.2 per cent in 2009, followed by a robust 3.8 per cent gain in 2010. Further, the central bank does not envisage that core inflation will reach the desired two per cent target until mid-2011."While more aggressive monetary and fiscal policy actions are underway across the (Group of 20 nations), measures to stabilize the global financial system have taken longer than expected to enact," the central bank said in its accompanying statement. "As a result, the recession in Canada will be deeper than anticipated."
The Bank of Canada's rate announcement, along with accompanying changes to its financial operations, lay the groundwork for the central bank to unveil Thursday its much-anticipated framework on quantitative easing - which entails flooding financial markets with excess cash in an effort to lower lending rates and stimulate the economy.
Shortly after the central bank's decision was announced, Bank of Montreal, Royal Bank of Canada, and CIBC moved to lower their prime rates - or what they charge their best customers - by 25 basis points, to 2.25 per cent, effective Wednesday. The other chartered banks are expected to follow.Charmaine Buskas, senior economics strategist at TD Securities, was among those forecasting a rate cut, but she said the amount of detail in the announcement caught market participants off guard."What did come as a surprise . . . was the astonishing transparency by the Bank as it explicitly stated that rates will remain at this level until June, 2010. This level of transparency is unprecedented but it speaks to the dire state of the economy and a desire to control expectations."
Analysts feared another rate cut could disrupt the functioning of money markets. To mitigate any disruption, the central bank opted Tuesday to narrow its operating band to 25 basis points - which in effect means the interest it pays on chartered banks' deposits at the central bank will match its overnight rate. The central bank will continue to charge lenders 0.5 per cent for loans.Previously, the operating band was at 50 basis points - meaning it charged 25 basis points above the benchmark for loans, and paid 25 basis points below the benchmark for deposits.Meanwhile, the central bank provided a glimpse of what may be contained in its much-anticipated quantitative easing framework. The Bank of Canada said it would be changing the terms of one of its current short-term facilities, from one- to three-month terms, to six- and 12-month terms. The rollover of existing stock into longer-terms, to begin next month, was necessary, it said, to keep the overnight rate at 0.25 per cent.
Analysts expected that three short-term financing vehicles the central bank operates would be altered as part of its quantitative easing framework, with money made available on longer terms.Besides all the technical modifications, the statement from the central bank also marked a sea-change.One of the goals of quantitative easing - which generally sees a central bank acquire a range of securities from market participants, without offsetting those costs on its balance sheet - is to lower rates across the yield curve.
"Conditional on the outlook for inflation, the (benchmark) rate can be expected to remain at its current level until the end of the second quarter of 2010 in order to achieve the inflation target."The Bank of Canada sets interest rates in an effort to get core inflation to the two per cent level. In its statement, it said it expects core inflation - which strips out volatile elements such energy - to diminish through the year, and not return to target until the third quarter of 2011. "While the underlying macroeconomic risks to the projection are roughly balanced, the bank judges that . . . the overall risks to its inflation projections are titled slightly toward the downside."
As for the economy overall, it said it expects the recovery to be delayed until the fourth quarter of this year, and that the recovery would be "more gradual."
The economy is not expected to reach full potential until mid-2011, or roughly a year later than its previous forecast. "Given significant restructuring in a number of sectors, potential growth has been revised down," the central bank said. "The recovery will be importantly supported by the bank's accommodative monetary stance."
Andrew Pyle, wealth adviser and markets commentator at ScotiaMcLeod, said the bank's downgrade to its economic forecast might be a bit harsh given recent encouraging signs, especially in the United States."The recovery itself is now seen as also being more gradual - quite a contrast to the bank's earlier forecasts for ballistic growth in 2010. That outlook was too rosy then, and I believe Tuesday's gloomier call is also a bit overdone."
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