New property listed in Ottawa

We are very excited to share our new listing at 1025 GRENON AVENUE UNIT#321 in Ottawa.
Feel like you live on your very own resort in this fantastic 1 bedroom plus den unit in Fairfield Heights! You will love the extensive park-like grounds of this well maintained, clean and quiet condominium conveniently located near shopping, restaurants and public transportation. Great open concept layout, spacious and impeccably presented, this move-in ready condo has generous room sizes, a cosy solarium, in-suite laundry and plenty of storage. Extensive amenities will keep you and your family entertained: rooftop deck with water and downtown views, gym, hot tub, sauna, pool, tennis & squash courts, indoor golf, rooftop party room, library, movie theatre, music and arts & crafts rooms, storage lockers and more! Make this your new address now! (id:2493)

New property listed in Ottawa

We are very excited to share our new listing at 508 NORDMANN FIR COURT in Ottawa.
Welcome to 508 Nordmann Fir Court, a wonderful 4 bedroom, 2.5 bathroom home on a premium lot backing onto the Abbottsville Pond! Be one of the fortunate few that can enjoy watching the ducks float by while sipping your coffee from the kitchen deck or by accessing the pond and trail directly from your walk-out basement. This home has great flow and an open and airy feel due to the neutral decor, upgraded 9-foot ceilings and hardwood throughout. The open concept main floor is perfect for family life and great for entertaining where you can show off your view! Have we mentioned the view... it is also a star in the primary bedroom and ensuite! A further 3 good sized bedrooms and a conveniently located laundry room round out the second floor. The unfinished walk-out basement has tons of potential and is ready to be turned into anything you want. This property ticks all the boxes and then some! Make this your new address now! (id:2493)

Emerging Issues Facing Real Estate

With restaurants patios advertising that they are back in full swing and stores opening up once again, could everything just return to the way it was? And what would be the effect on real estate? The irony is that of all of the service industries out there, real estate was not really affected by the pandemic as much as others. Yes, we had to set limited viewing appointments, wear masks, lather up with disinfectant and remain a respectful distance apart, but in spite of things, the last year or so has been brisk! In fact, some of the restrictions made the business easier. We discovered we could do the vast majority of our job from our home offices and digitize transactions better than we did in the past. So, now that the barriers are being lifted, what now? Here are five trends we are seeing or may see in the short term:

1. Agents may not return to the office

Having worked effectively from home for the past 15 months or so, many agents have become used to working from home and mobile. They have been able to avoid commutes, juggle childcare responsibilities, work in their “comfort clothes,” and save considerable time and money. They have been able to adjust schedules around their family and work off hours as necessary to get things done. Yes, it has been frustrating at times dealing with kids rather than being available when needed. Of course, Zoom & Google Meet are just not the same as collaborating in person. Overall, however, everyone has managed to make it work, and now that we are cleared to return, many employees are just not that keen to return to the office.

2. Business is rethinking office spaces

Having discovered that a good deal of expensive office space may actually be unnecessary, many businesses are are rethinking how they use their office space. The prime example, here in Ottawa, is Shopify, who sublet thousands of square feet of office space! There is no question that in-person work has significant benefits. But there is also the reality that highly skilled administrative help is available either full time or part-time remotely. Many admins prefer to work from home to be with their children. As a result, many real estate brokerages' office spaces can or should be shrinking. Less expensive collaborative spaces may become the norm such as Staples Studio or other co-working spaces.

3. Offices are dealing with The Great Resignation

Coined by Anthony Klotz, a Texas A&M University professor during a Bloomberg Businessweek interview, the phrase “The Great Resignation” refers to the pent-up dissatisfaction many employees have endured through the pandemic as they have stayed with current jobs rather than look for more appealing opportunities. Now that things are opening up again, it’s projected that we will see a significant wave of resignations and corporate reshuffling. This is echoed by The Wall Street Journal, which stated in a June 13, 2021 article that the number of employees quitting their jobs is at a two-decade high. Rather than return to the office, many employees are looking for better-paying opportunities more in line with their skill set and values. Some are leaving the corporate world altogether as COVID-19 has reshaped their priorities and desires.

This is also happening in real estate as agents are looking around to find better deals elsewhere. At the point in time where companies (and real estate offices) were hoping to capitalize on the new freedoms and relaunch in earnest, they are forced to deal with waves of resignations, setting them back on their heels.

4. Recruiting has become more difficult

As a result of the current corporate reshuffling, recruitment is awash with emerging challenges. Employers, eager to gain traction in the reopening market, are upping the ante to gain new employees and consequently offering higher salaries and benefits. Employees, sensing they may have the upper hand, are out looking for better opportunities and raising the bar on their expectations.

We are seeing this trend in the real estate sector, as well, as agents have recently begun shifting en masse to what they feel are better opportunities and values. Not only are brokerages seeing key members evacuate, but we are also seeing entire teams jump ship and align with different brokerages. Brokerages will need to reevaluate how they recruit and what is their value are they providing to their agents if they want to build amidst the current environment.

5. Clients are asking to meet in person

Whereas the mandatory Covid guidelines opened the door to Zoom meetings and distance interactions, now that the barriers are coming down, clients are making it very clear they want to do real estate in person. In the US, crowds are flocking to open houses, buyer tours are in full swing, and clients are requesting to meet in person instead of enduring Zoom consultations.

Agents who had hoped that Zoom would have permanently streamlined some client interactions may be disappointed. It appears humans are "social animals" and people like being together and may jump at the opportunity to reengage in social contexts once again especially when it comes to home shopping. Time will tell shortly.

It is a changing world for sure, and like any new environment, it appears to be coming with a few surprises. In the short term, it appears that real estate agents will have their hands' full learning how to navigate these new waters. But we will adapt! Tell me what you think?


New property listed in Ottawa
We have listed a new property at 508 NORDMANN FIR COURT in Ottawa.
Welcome to 508 Nordmann Fir Court, a wonderful 4 bedroom, 2.5 bathroom home backing on the Abbottsville Pond & Trail! Watch ducks float by while sipping your coffee from the kitchen balcony or take a stroll on it from the rear yard using your own walk-out basement patio space! Super unique! There are hardwood floors throughout and 9 feet ceilings that give the home an airy and homey feel! Entertaining is a breeze with the open concept kitchen, great room and dining room all enjoying that beautiful view. Speaking of the view, :) wake up to it from the primary bedroom or take a bath while enjoying it from the ensuite. This property ticks all the boxes and then some! Dont forget the 3 rules of real estate - location, location, location! Make this your new address now! (id:2493)

Real estate is a second career for Kim, and she joins TRU Realty as a professional with great passion, dedication and enthusiasm.

Kim has a Masters of Science degree in Biology and has spent the majority of her career working as a biologist in the conservation of species at risk. Kim has found a new interest in and love for real estate, where she works closely with her clients to represent their interests while making the experience relaxed and enjoyable.

Kim takes pride in her dedication, her positive attitude, and attentiveness to detail - qualities that will serve her clients well and mark her as a TRU professional. Born and raised in Ottawa, Kim loves to bike around the city, taking in all of the beauty and charm it has to offer.


Welcome to TRU Realty - Don Houston

We are thrilled to announce Don Houston has joined TRU Realty! Don grew up in Montreal, attended McGill and majored in Land Planning and Environmental Conservation and was a "professional environmentalist" for 20 years before transitioning into the real estate industry. Don's real estate experience is extensive, having sold properties throughout eastern Ontario for CMHC and especially the west-end of Ottawa. We are really excited to have a "TRU Pro" representing our brokerage and invite all of Don's past and current clients to continue to contact him for all their real estate needs!


Welcome to TRU Realty - Yogesh Kalyani
We are very excited to announce Yogesh Kalyani has joined TRU Realty! Yogesh brings a wealth of experience from earning various degrees & work experience from the hi-tech field & customer service. In addition, his experience in selling both new and resale homes will be invaluable as he guides his clients through their real estate journey. Yogesh invites all his clients to feel free to contact him anytime for their real estate needs!

New property listed in Ottawa
I have listed a new property at 535 LANGELIER AVENUE in Ottawa.
RARE opportunity to secure a home in the heart of Trailsedge!! The Impeccable Manhattan/Hampton END by Minto with much to offer, hardwood thru out main, commodious secondary bedrooms, large master bedroom retreat featuring the distinct 4PC ensuite bath w/desirable ROMAN "soaker" tub, private walk-in closet. The great family room of the basement level welcomes you with an engaging fire place. Family oriented and peaceful location of Chapel Hill South/Bradley Estates. Steps from the Tulip Tree Park, playgrounds, Trailsedge pond, nature trails, bike paths, other parks, schools, grocery stores and shopping. 24 hours irrevocable with all offers. (id:2493)

Ottawa Market Trends May 2021

Members of the Ottawa Real Estate Board sold 2,296 residential properties in May through the Board’s Multiple Listing Service® System, compared with 1,342 in May 2020, an increase of 71 per cent. May’s sales included 1,779 in the residential-property class, up 67 per cent from a year ago, and 517 in the condominium-property category, an increase of 85 per cent from May 2020. The five-year average for total unit sales in May is 2,123.

Although Ontario was in a lockdown in both May 2020 and May 2021, the impact they had on Ottawa’s resale market was quite different - with this year’s number of transactions being well over the five-year average. Undoubtedly, enhanced safety measures and vaccine adoption rates have enabled potential Buyers and Sellers to feel more protected and comfortable in their home buying and selling process.

Additionally, twice the number of new listings entered the market in May 2021, compared to last year at this time, with 2,386 residential properties and 727 condos added to inventory. This is approximately 50 units more than the five-year average for new listings.

May’s average sale price for a condominium-class property was $424,843, an increase of 24 per cent from last year, while the average sale price for a residential-class property was $741,206, an increase of 35 per cent from a year ago. With year-todate average sale prices at $736,241 for residential and $420,074 for condominiums, these values represent a 35 per cent and 21 percent increase over 2020, respectively.

With the number of condominium sales transactions having increased by 85% in May of 2021, over May of 2020, coupled with the 21% price increase in the same periods, it appears that the condo market has recovered from the declines experienced early in the pandemic.

For residential-class properties, price movement is still well above 2020, with 46% selling over $700K compared to 16% of properties last year at this time - these percentages are reflected in the sales data for both May and year-to-date. We observe that month-over-month average price increases for April and May are not as high as the jumps in value in the first quarter of 2021. While it is still too early to predict, this may be a sign that the rapid price acceleration we have been experiencing is easing in the market.

As we come out of this lockdown, we will closely monitor other market factors including the effects of the increased stress test measures combined with the average five-year fixed mortgage rates climbing back over two per cent since the beginning of 2021, and whether pent-up supply will decrease our supply shortage and eventually bring Ottawa’s real estate market to a more balanced state.

OREB Members also assisted clients with renting 1,837 properties since the beginning of the year compared to 1,207 at this time last year.

For more information, or for an evaluation of your property, contact a TRU Realty salesperson.


New property listed in Golden Triangle
I have listed a new property at 24 Waverley Street in Ottawa.
Welcome to a classic turn of the century townhome, set steps from the historic Rideau Canal, Parliament and all Ottawa has to offer! Home is completly updated - eat-in kitchen, baths, some exposed brick interior walls, fireplace, third floor master suite with sauna and huge rooftop deck with view of the canal, rear deck off kitchen, oversized single garage with opener and inside access. Make this your new address now!

New property listed in Ottawa
I have listed a new property at 101 RICHMOND ROAD UNIT#612 in Ottawa.
Elegance & Style in the heart of Westboro, warm welcoming & commodious 1 bedroom, 1 bathroom, GOURMET kitchen, upscale living space, natural light GALORE, engaging verandah, in-unit laundry. Monthly rent includes heat, A.C., ONE (1) underground parking and ONE (1) storage locker, walking distance to transit / LRT, parks, eateries and amenities, building amenities include: roof top terrace w/BBQ, theatre room, entertainment room, gym, sauna, courtyard. 72 Hours Irrevocable on all offers. (id:2493)
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.