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Welcome to TRU Realty - Peter Clarke

We are so excited to announce that Peter Clarke has joined TRU Realty!

Since 2005, Peter has been assisting his clients' purchase and sell residential and investment properties. As an "Ottawa boy" born and raised in the city, he knows the intricacies and history of the area. That experience along with his background in technology & his Broker designation has made him the first person people call when they have questions about real estate. Along with his wife and partner Patricia, they appreciated the personal attention and support that TRU Realty offered.

We welcome all of Peter's family, friends, and past and future clients to reach out to him for all their real estate needs!

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Welcome to TRU Realty - Isam Hashweh

We are really proud to announce that Isam Hashweh has joined TRU Realty!

Isam is a Construction Engineer with decades of experience and in addition, a real estate entrepreneur who is passionate about helping others to achieve their goals. His background in Construction and Engineering gives him a firm grasp on the negotiation process that provides him with a unique edge over the competition. Isam has a proven track record for helping buyers find not just a home, but the right home for their needs, and for showing sellers how to navigate the pricing and marketing strategies that will help them achieve their goals.

Isam chose TRU Realty for its dedication to supporting its agents through consistent and responsive administration and management. We welcome all of Isam's past clients to contact him for all their real estate needs!

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Posted in Ottawa, Ottawa Real Estate, TRU, TRU Realty, TRU Realty Pro
Ottawa Market Trends December 2022
Members of the Ottawa Real Estate Board (OREB) sold 601 residential properties in December through the Board’s Multiple Listing Service® (MLS®) System, compared with 857 in December 2021, a decrease of 30%. December’s sales included 466 in the residential-property class, down 22% from a year ago, and 135 in the condominium-property category, a decrease of 48% from December 2021. The five-year average for total unit sales in December is 775.

2022 in Review
Residential and condo resales in 2022 totaled 15,288, compared with 20,289 in 2021, decreasing 25%. Total sales volume in 2022 was approximately $10.5B compared to $13B in 2021.

“Even with the normal seasonal slowdown, December’s performance was in stark contrast to the very active resale market that opened 2022,” says OREB’s newly installed 2023 President. “As interest rates and inflation both climbed, buyers retreated to the sidelines and began taking a wait and see approach. However, while it’s quieter than the frantic pace we experienced in 2021, it is now a balanced market.”

By the Numbers – Average Prices:
  • The average sale price for a condominium-class property in December was $434,973, an increase of 9% from 2021.
  • The average sale price for a residential-class property was $655,839, decreasing 7% from a year ago.
  • With year-to-date average sale prices at $769,623 for residential units and $453,770 for condominiums, these values represent a 7% increase over 2021 for residential-class properties and an 8% increase for condominium-class properties.
“Although market activity tapered off in later 2022, there was an immense amount of activity in the spring at high prices. This will be an important caveat to consider as we begin comparing 2023 numbers to the previous year.”

By the Numbers – Inventory & New Listings:
  • • Months of Inventory for the residential-class properties has increased to 3.7 months from 0.9 months in December 2021.
  • Months of Inventory for condominium-class properties has increased to 3.9 months from 0.9 months in December 2021.
  • December’s new listings (699) were 17% higher than 2021 (600) and down 56% from November 2022 (1,598). The 5-year average for new listings in December is 662.
“The leading economic force behind Ottawa’s rapid appreciation in the past five years is chronic supply insufficiency. It intensified during the pandemic as prospective purchasers capitalized on incredibly low interest rates. Today’s higher rates are slowing down building projects, which exacerbates the low supply issue.”

2023 Lookahead
“Since Ottawa is made up of hyper-local markets, it is a difficult ecosystem to forecast. Plus, there are a multitude of factors influencing a changing economic environment these days that will dictate how much activity the resale market will see in 2023. REALTORS® have access to expert insights and industry resources that can help buyers and sellers navigate the complexities.”

REALTORS® also help with finding rentals and vetting potential tenants. OREB Members have assisted clients with renting 6,105 properties this past year compared to 4,813 in 2021.
Courtesy of the Ottawa Real Estate Board
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Welcome to TRU Realty - Tony Saikley

We are really pleased to announce that Tony Saikley has joined TRU Realty!

Tony brings a wealth of experience and knowledge in real estate - investing, owning, developing, leasing, managing, buying & selling! Experience that can be a huge advantage to his clients. In addition, Tony appreciates values such as honesty, integrity and hard work. Qualities that clients want and need in their real estate transactions. In turn, these are qualities that TRU Realty values and attracted Tony to our brokerage.

On behalf of Tony, we invite all of his past clients, family and friends, to contact him with any and all their real estate needs!

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Welcome to TRU Realty - Kevin Benjamin

We are really thrilled to announce that Kevin Benjamin has joined TRU Realty!
After earning a BA in Geography at Brock University, Kevin has applied his education, skills & experience to several industries and endeavours from management to business owner to sales! He has pursued that same passion and expertise in his career in real estate since 2020! Kevin recognizes at the heart of every real estate transaction are people. He endeavours to provide his clients with the honesty, sincerity and reliability that they deserve when buying or selling. Qualities that mark his professionalism. It is those same qualities that Kevin saw in TRU Realty that will support him and his clients.   We encourage all of Kevin's family, friends and past clients to contact him today!

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Ottawa Market Trends November 2022
Members of the Ottawa Real Estate Board (OREB) sold 846 residential properties in November through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,456 in November 2021, a decrease of 42%. November’s sales included 658 in the residential-property class, down 39% from a year ago, and 188 in the condominium-property category, a decrease of 50% from November 2021. The five-year average for total unit sales in November is 1,270.

“November’s sales were expectedly low given the typical slowdown this time of year but they also reflect today's economic conditions," says OREB's 2022 President. “This is not isolated to our local market. Globally, we’re still adjusting to the post-pandemic world and that affects demand, pricing, interest rates, cost of living, supply chain disruptions and more. As a result, those who can, are waiting and watching.”

By the Numbers – Average Prices:
  • The average sale price for a condominium-class property in November was $415,533, a decrease of 4% from 2021.
  • The average sale price for a residential-class property was $680,031, decreasing 5% from a year ago.
  • With year-to-date average sale prices at $774,422 for residential units and $454,436 for condominiums, these values represent an 8% increase over 2021 for both property classes.
“What’s concerning about the current market is the impact on first-time homebuyers. The marked decrease in condo sales, for example, signals that even entry-level properties are being affected. Fluctuating markets, paired with the stress test, are keeping first-time buyers on the sidelines in a tight rental market—with MLS® rentals increasing 27% this year over last.”

By the Numbers – Inventory & New Listings:
  • Months of Inventory for the residential-class properties has increased to 3.5 months from 0.9 months in 2021.
  • Months of Inventory for condominium-class properties has increased to 3.4 months from 1.1 months in 2021.
  • November’s new listings (1,598) were 12% higher than 2021 (1,429) and down 22% from October 2022 (2,046). The 5-year average for new listings in November is 1,398.
“With nearly four months of inventory and an average 30 days on market, Ottawa now has a balanced resale market, slightly tipping toward the buyers. Sellers are well-advised to work with a REALTOR® who has hyper-local knowledge about specific neighbourhoods, appropriate price points and ideal timing. Prices are adjusting but real estate is a long-term investment. It’s the same reason I tell buyers to marry the house and date the rate.”
Courtesy of the Ottawa Real Estate Board
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Welcome to TRU Realty - Roger Senecal

We are really honoured to welcome Roger Senecal to TRU Realty! Roger has a background in geography and business from the University of Alberta. As a result, Roger has a keen interest in land use, resource planning, environmental and resource management, renewable energy, sustainability, and energy-efficient housing. This has translated into Roger’s experience in advocacy, building and retrofitting homes for both himself and development and assisting his clients as well. In addition, Roger places great emphasis on professionalism through education and high ethical standards, qualities that attracted him to TRU Realty and its management. 

Roger lives in Hintonburg with his spouse and daughter and looks forward to assisting any and all in their real estate needs. Contact Roger today!

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Welcome to TRU Realty - Jim Riley

We are very pleased to announce that Jim Riley has joined TRU Realty!

Jim is an "Ottawa boy" through and through. Born and raised in the city, Jim knows the National Capital! That has really helped Jim to enjoy a long career in real estate! Since the 1990's, Jim has assisted both buyers and sellers get the most from their transactions! Jim's attention to detail, care and determination is admired by all his past clients, friends and colleagues. Those same qualities are what TRU Realty looks for in their agents and what attracted Jim to our brokerage.

When not selling, or renting property, Jim enjoys spending time with his family, playing hockey and cheering on the Senators! On behalf of Jim, we invite all to contact him with any and all their real estate needs!

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TRU Realty Training - Tax Tips for Realtors

No one enjoys paying taxes! But we also recognize that we are required to pay our fair share. How can we minimize the taxes we pay and keep more for ourselves and our families? Chris Finlay, Partner with KPMG will cover 7 crucial Tax Tips for Realtors!

Chris is a partner in KPMG’s Ottawa office. His focus is serving owner-managed businesses in the retail, professional services and manufacturing sectors. He knows how to work with entrepreneurs which is very different than a corporate-based environment.

RSVP now!

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Ottawa Market Trends October 2022
Members of the Ottawa Real Estate Board sold 987 residential properties in October through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,670 in October 2021, a decrease of 41%. October’s sales included 758 in the residential-property class, down 40% from a year ago, and 229 in the condominium-property category, a decrease of 44% from October 2021. The five-year average for total unit sales in October is 1,554.

"After the volatility of the past two pandemic years, which was unsustainable, the market is correcting and adjusting," says the Ottawa Real Estate Board President. "The slowdown is compounded by Bank of Canada interest rate increases, which further exacerbates buyer hesitancy and weakens people's purchasing power—especially first-time homebuyers."

“Demand is still high, and with increasing inventory available, Buyers have more choices and time to shop for their new home. However, the ongoing speculation about where prices and interest rates are headed shakes consumer confidence and has made some prospective Buyers take a wait-and-see approach.”

“Sellers may be understandably concerned about market fluctuations, which have been more drastic lately. As with any major investment, a longer-term perspective is important. The significant year-over-year gains of the last two years were not sustainable. If you have owned your property for any length of time, your equity has increased significantly and will buffer price corrections. If you buy and sell in the same market, it is all relative.”

By the Numbers – Inventory & New Listings:
  • Months of Inventory for the residential-class properties has increased to 3.3 months from 1 month in 2021.
  • Months of Inventory for condominium-class properties has increased to 3 months from 1.2 months in 2021.
  • October’s new listings (2,047) were 4% higher than 2021 (1,960) and down 14% from September 2022 (2,371). The 5-year average for new listings in October is 1,971.

“Buyers and Sellers need to carefully analyze their own unique circumstances. No one can predict with absolute certainty what will happen next year, but in the highly employed and stable Ottawa market, real estate has been and continues to be a good investment over time. They don’t have a crystal ball, but mortgage brokers and REALTORS® have the education, expertise—and most importantly, the data—to help people make an informed decision for their specific situation.”

By the Numbers – Average Prices:
  • The average sale price for a condominium-class property in October was $445,691, an increase of 9% from 2021.
  • The average sale price for a residential-class property was $677,873, decreasing 5% from a year ago.
  • With year-to-date average sale prices at $780,390 for residential units and $456,470 for condominiums, these values represent an 8% increase over 2021 for residential-class properties and a 9% increase for condominium-class properties.

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 5,186 properties compared to 4,012 last year at this time.

Courtesy of the Ottawa Real Estate Board
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TRU Realty Training - Dealing with Death & Divorce

Featuring Michael D'Aloisio - Partner with Kelly Santini LLP

Dealing with Death & Divorce can strike fear in even the most experienced Realtor! Mike will inspire confidence in dealing with these potentially scary issues by answering questions such as: What is an Estate? Who is a Spouse? Whom do you deal with? Who signs what & when? What documents are required? And much more!

Since 2009, Mike has built a practice catering to the many legal needs of real estate buyers, sellers and wills and estates with sage advice with respect to estate planning strategies that can help his clients achieve their goals and minimize tax obligations now and in the future. In addition, Mike has become a well-known speaker on legal issues in the Ottawa area. You will not want to miss this event!

Date and time: Wednesday, October 19, 2022, Noon – 1:00 PM EDT

Location: TRU Realty, 403 Bank Street, Staples Spotlight Theatre, Ottawa, ON K2P 1Y6

Limited Seating so RSVP asap: Here


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