Understanding The Fall Real Estate Market

It’s no secret, the seasons play a big role in the real estate market. As fall comes around, you may feel as if you’ve missed out on the prime of the real estate market.

Although spring is typically the busiest time in real estate, the fall market is often a close second, with summer holidays coming to an end people are ready to get back to it. There are a number of reasons why buying or selling a home in the fall can be advantageous. In this article, we’ll touch on the benefits of both sides of the fall real estate market.

Fall, as a buyer.

For buyers, the fall market presents a number of opportunities. There are typically fewer buyers competing for homes, which gives you a little more negotiating power. There is still generally more demand than inventory left, though. But we have definitely been seeing a shift in the market where there aren’t as many bidding competitions on homes. Homes have also been sitting on the market a little longer giving you the opportunity to really get your ducks in a row before jumping in. Additionally, in the fall, closing dates tend to hold more importance than other factors as they want to avoid closing in the winter months.

While the market is shifting, it’s still incredibly advantageous to get pre-approved before beginning your search.

Fall, as a seller.

Sellers may also find that the fall market can work in their favor. Serious buyers are more likely to still be looking in the fall, and may be more motivated to find a home before the seasons change. Buyers are also faced with dwindling inventory as fewer houses become available as winter approaches. As a result, you may have less foot traffic overall, but more buyers who are seriously considering your home.

Contact the experts.

Lastly, make sure that you contact experts with years of professional experience before moving forward with your sale or purchase. If you have any further questions about the fall real estate market, feel free to reach out and we’ll be glad to help.

Beyond the Sign: How Realtors Determine List Prices. – There are a number of factors that go into the successful marketing and sale of a home. Even before the ‘For Sale’ sign goes up, the professional REALTORS® at Royal LePage Team Realty are working hard to make sure that all of the elements are in place. One of the most important aspects of a successful sale is a correctly priced property.

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Bring Your Gardening Hobby Indoors

Just because the weather is getting cooler doesn’t mean your gardening hobby has to take a back seat. Luckily, there are many approaches you can take with a variety of different styles to make your indoor garden just as fabulous as outdoors. In this article, we’ll list some tips, tricks and ideas that could prove useful in the coming seasons.

First, choose a direction.

There are many directions you can take indoor gardening. 

• Consider a vegetable garden. It’s a fun way to help cook delicious meals with your own produce.

• Decorate your bathrooms with indoor plants, as it can freshen up the space. The moisture from hot showers and baths can also be healthy for them.

• Low-maintenance succulents are becoming very popular in a variety of rooms.

• Consider faux-plants if you live a busy lifestyle. You’d be amazed how life-like they’ve become.

• Vines and other crawling plants can create a nice atmosphere if your home permits.

• Putting plants in window-sills can help give them sunlight for their growth.

• If you’re planting flowers, try to match them to the colour palette of the room.

Next, prepare for your indoor plants.

A logical place to start is with a pot or planter. Many different materials can make for effective planting containers, including terracotta, glazed ceramic, plastic or hypertufa. Just be sure that your pot has drainage holes in the bottom so that excess water can escape and roots don’t become waterlogged. Also make sure that any excess water drains or collects somewhere, and doesn’t damage your floors or create a slipping hazard.

Buy a good potting mix. Commercial mixes are widely available and generally provide everything plants need in terms of drainage, aeration, nutrients and water retention. If you’re making your own mix, just be sure to use materials that will promote good drainage while still retaining some moisture for the plants to absorb. A combination of peat moss, perlite, compost and sand can be a good starting point. 

Water your plants strategically. When it comes to watering your plants, the general rule is to water deeply but less often. This encourages roots to grow deep into the potting mix in search of moisture, which results in a healthier plant. Water until it begins to drain out the bottom of the pot, then empty the drainage tray. Let the top few inches of potting mix dry out before watering again.

Fertilize your plants regularly. Fertilizing is important for keeping your plants healthy and strong. For potted plants, it’s best to use a water-soluble fertilizer that can be mixed with water and applied to the plants on a regular basis.

Prune as needed. Pruning helps to encourage new growth, remove dead or damaged leaves and stems, and promote air circulation. When pruning, be sure to use clean, sharp shears or scissors. Don’t forget to disinfect your pruning tools before and after you use them.

Next, do your research!

Now that you’ve got an idea of what’s involved in maintaining an indoor garden, the next step is to do your research and decide which plants you’ll be incorporating into your home this season. No matter what direction you take, the addition of plants will likely improve your air quality and freshen up your home.

Plants are just one of the many ways to beautify your home, but are they best for staging your home for quick and profitable sale? Let us put you in touch with one of our experienced realtors so they can get your home looking it’s absolute best.

Fall Maintenance Checklist

It’s September, and fall is in full swing. As the seasons change, the national capital region will put a wide variety of colours on full display for us to enjoy. But while the leaves are beautiful, they can provide their own set of tasks to deal with. Your property will need some additional work in order to stay beautiful and come back to its fullest in the springtime. That’s why we’ve put together this fall maintenance checklist, so that you can keep your home and property in tip-top shape as the days get cool and blustery. If you follow these tips and tricks, you’ll see how a small effort can go a long way.

Inspect your gutters and downspouts.

As the leaves start to fall, they can quickly clog up your gutters and downspouts. You should check them at least once a month during the fall (and more often if you have many trees on your property). This, along with any residue left throughout the summer by critters and stray gusts of wind, could lead to water damage on your roof and sometimes flooding inside of your home. Fall and winter can bring a lot of rain and snow, which is why you want to be extra careful as there’s increased risk for water damage.

Rake leaves regularly.

While you’ll find this task on your spring checklist, it’s important to do several rounds in the fall as well. Your grass is still alive during the wintertime, it’s only gone dormant fighting to conserve precious nutrients. Not only can raking boost your curb appeal, but it also prevents rotting leaves and other debris from harming your lawn.

Fertilize, dethatch and aerate.

Fertilizing, dethatching and aerating are other ways you can care for your lawn during the fall. They will help keep your lawn healthy so that it can come back to its fullest during the springtime. Dethatching and aerating can both be done with a variety of machines and tools, likely widely available for rent and/or purchase.

Trim any overgrown branches.

Fall tends to be a pretty stormy season, so make sure you trim any overgrown branches that could cause damage if picked up by a strong gust of wind. Trimming these branches may also reduce the amount of leaves that fall on your lawn, which is an added benefit.

Keep cozy this season!

We hope that through following all of these tips and tricks, you and your and your household will be able to enjoy a comfortable, stress-free fall season! If you have any further questions about keeping your home in tip-top shape during the fall, don’t hesitate to contact us!

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5 Tricks for a Smooth Move with the Kids

Moving can seem like a daunting task. There are so many things to think about, plan and organize with many strict deadlines that need to be met. Not to mention the added stress of having to do it all with the kids in tow. But don’t despair – we’ve got you covered. In this article, we cover some tips and tricks to help make moving with children a breeze.

Create a timeline.

One of the most important things you can do when you move in general, let alone with little ones, is to create a timeline of everything that needs to be done. This will help you stay organized and on top of things, and will ensure that nothing gets forgotten. First, create a checklist of everything that needs to be taken care of from the old house to the new one. Then, add in important dates such as when the movers will be coming, when utilities need to be switched over, etc.

This can not only give you a comprehensive view of the process, but putting these dates on a calendar and referencing them frequently can reduce some of the confusion and chaos in the lives of little ones who may not fully grasp what’s going on.

Involve your kids.

Involving your children in the moving process can actually help to reduce stress for them. As they see you packing up their things and getting ready for the move, it can be helpful to talk to them about what’s happening when, and why. If possible, take them to see the new house many times before you move so they can start to get familiar with the new space and neighbourhood.

On moving day itself, let them help out however they can. This can range from simple tasks like supervision while you pack boxes, to bigger responsibilities like helping carry small items to the car. Giving them a sense of ownership and responsibility can make the whole thing a lot less scary for them as they feel they’re helping guide the process rather than being dragged behind.

Keep routines intact.

This is admittedly easier said than done, but it’s important to keep your kids’ usual routines as intact as possible throughout the moving process. This means keeping mealtimes, nap times and bedtimes as close to regular as you can. There will be some unavoidable disruptions and changes, but if you can keep much of their normal routine in place it will help them feel more comfortable during what can be a confusing time.

Prepare for the first few nights.

One of the hardest parts of moving with kids can be the first few nights. You’re likely to be both physically and emotionally exhausted from the move itself, and may not have had a chance to fully unpack and set up your new home. This can make it difficult for the little ones to settle in, so to help ease the transition, pack an overnight bag for each child with some of their favourite toys, games, books, stuffies or blankets. This will help them feel more grounded in unfamiliar surroundings, and will give you a chance to get the rest of the house in order.

Be open to questions.

Lastly, if your children have any questions about the process, make sure you’re open and honest. The more they understand the change that’s taking place in their life, the less scared they’ll be of what’s to come. 

We’re also open to questions! If you have any further inquiries about the moving process, don’t hesitate to reach out.

4 Tips for the Coziest Autumn Patio

As the weather cools, you’re still going to want to make the most of your outdoor spaces. Luckily, you still have a lot of time left to enjoy them before the snow falls. In this blog, we’ll discuss some common patio trends that will help you make the most of your outdoor space this fall.

Fire Pits / Heating

There’s nothing like gathering around a cozy fire pit on a chilly evening. A fire pit is the perfect way to extend the use of your patio space into the colder months. Not to mention, it’s a great way to entertain friends, family, or any other guests. Fire pits can range in price and style based on what you’re looking for, so they’re worth considering no matter your budget.

If your spaces aren’t ideal for a fire pit, or if fire pits just aren’t for you, consider adding heat lamps to your patio. They’ll provide enough warmth to keep you comfortable while you enjoy a relaxing evening in the fresh air.

Bring the indoors out

It’s an increasingly common decor trend to have indoor furniture outside. Just make sure to seal or stain any furniture accordingly so that it doesn’t get damaged by critters or weather. Add some cushions, throw pillows and blankets to your social spaces for extra comfort. If you have the space and budget, consider adding an outdoor kitchen or dining area to your patio.

Get creative with your decor

Create a warm and inviting atmosphere on your patio with some well-placed lighting. String lights, lanterns, LED strips and candles are all great options. Either a gazebo or pergola can add some well-needed shade and style to your patio. It’s the perfect spot to relax on a sunny day or entertain guests. When it comes to patio flooring, the possibilities are nearly endless. Concrete, stone, wood – there’s a material to suit every taste and budget. 

Plants and flowers can add colour, texture, and life to your patio. Whether you go for potted plants or an area dedicated to a small garden, make sure to choose plants that are suited for the time of year, as well as Ottawa’s climate. A water feature is also a great way to add style to your patio. From fountains to ponds, there are many options to suit your property.

Make it your own.

At the end of the day, it’s important that you create a space that you love. Whether you go for a simple, classic design, or something more modern and eclectic, make sure it’s a space in which you feel comfortable. After all, your patio is an extension of your home – a place to relax, entertain, and enjoy.

If you have any questions regarding patio renovations and how to get the best return on your investments, don’t feel shy to contact us.

5 Things You Need to Know About Buying Commercial property. The first thing you need to decide when first considering investing in commercial real estate will be the type of property that best suits your needs. Each has its pros and cons and will need different expertise. It’s important to note that residential mortgages are only available for residential properties like detached homes, townhouses, and condominiums. Commercial mortgages include retail buildings, offices, industrial buildings, multifamily units, and more. These different properties have features, risks, and investment strategies that necessitate a slightly different approach to financing.

1. The Different Types of Commercial Properties

When looking into buying commercial real estate, it is important to factor in the different types of commercial real estate available. There are many different building types, property, and land use types. Here are a few of the various commercial property options to consider: 

Multifamily

Multifamily properties can be both residential and commercial class real estate investments. Financial Institutions consider buildings with 5 or fewer units as a residential class investment and those with 6 or more units as a commercial class investment. 

Retail

There are various subtypes of retail space in regard to commercial properties. Depending on the type of business you are looking to fill the space with will determine which of the various retail properties meet your needs. A few types to consider: Retail property types are properties used to market and sell consumer goods and services. This category includes single-tenant retail buildings, small neighbourhood shopping centers, larger centers with grocery store anchor tenants, and “power centers” with large anchor stores.

Light/Heavy Industrial

Heavy industrial properties include a wide range of industrial uses which, by their nature, generate noise, fumes, odours or even would be appropriate for large manufacturing companies. The property would typically be purpose-built to accommodate specific machinery.   These plants require substantial renovations to re-purpose the space for another user or tenant, which can be very expensive. Light industrial properties, however, are much simpler and can be more easily reconfigured for other users. Light industrial properties include low-impact industrial uses such as product assembly space, distribution centers, as well as office and office type uses. 

Office Space

Offices are commercial properties primarily used to maintain professional or business offices. It is an encompassing term that may include single-tenant properties, small professional office buildings and downtown skyscrapers. Office space can be rented out to businesses at costs that coincide with square footage and location, making a great potential for return. 

Hotels

Hotel space has great potential for income. Hotels provide accommodation, food, and other amenities such as swimming pools, gyms, and a liaison that can assist travelers and tourists during their stay. Depending on where your hotel or motel is located can make it a successful establishment. Hotels can be independent (boutique) or a part of a major hotel chain. 

2. More Money Down

Commercial real estate often requires a more significant up-front investment than residential properties. The advantage of investing in commercial real estate is that there is long-term stability with tenants and the income generated. Commercial leases are for a longer term than a residential lease which means that you do not have a constant turnover of tenants. Most leases provide for the tenant being responsible for the payment of operating costs associated with the operation of the building. Commercial leases are not as highly regulated as residential leases and do not encumber the landlord as heavily.

3. Commercial Properties are Valued Differently

There are two approaches that can be used to evaluate a commercial real estate. One approach is an income approach. The other approach that REALTORS ® use is the cost approach The value of a commercial property will depend on its functionality and income. Cost to maintain the properties functionality, the current market value of the land, and the depreciation of the property will all come into play as well.

4. Longer Due Diligence Period

Doing your due diligence is a necessary step in buying real estate of any kind, however, when purchasing commercial real estate, the process can take much longer and of a greater cost than residential real estate. The process will include multiple inspections, building condition assessments, lender fees, environmental assessments, a title search, a survey, and a review of the owner’s major expenditures on the property such as utility bills, taxes, maintenance, and any structural repair fees. 

5. Better monthly cash flow, less passive appreciation than residential

Before taking on a commercial mortgage, you should work with a commercial mortgage broker to help you understand your options and find the most competitive interest rates and terms for your next deal. You should also consider speaking with other professionals such as real estate lawyers and business planners to make sure you are approved quickly and your business or investment is successful. Ensure your entire team is commercial focused as it requires an entirely different set of skills. And of course, don’t forget your

While these are the top 5 Things You Need to Know About Buying Commercial property, your Commercial Realtor will be able to dive in deep to help you make the best decisions.

 Beyond the Sign: Choosing the best realtor – “Whether you are buying or selling a home, working with the right REALTOR® can make a huge difference in the success of your real estate transaction. It takes a lot of skill to be able to market homes, negotiate terms, and ensure the entire process goes smoothly. It is important to take the time to thoroughly interview potential real estate agents before deciding which one will be the best fit for your unique circumstances.”

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