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Here's a good article from the Ottawa Citizen, by John Morrissy: Canada's housing market showed signs of life in February after months of declines, with resales rising 8.6 per cent from January thanks to lower mortgage rates and prices, the Canadian
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New construction in Ottawa fell 57% in February due to the economic downturn. The Canada Mortgage and Housing Corp. stated that work was started on 137 units this year compared with 317 units in February 2008. There were no construction starts in apartment
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By Garry Marr, Financial Post with files from Bert Hill Canada Mortgage and Housing Corp. says the downturn in the economy will drive home construction to a nine-year low in 2009, a marked decline from the Crown corporation's November forecast. But
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Ontario's governement introduced what they call the "Green Energy Act" today. Part of this plan calls for homeowners to obtain an energy audit before they put their house up for sale. So far, we don't know when this audit will be mandatory.
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Market Comment Here is a summary by Lynn Fraser of Mortgage Intelligence, whom I personally endorse. Long term rates have dropped to hit 50 year lows with several lenders in the 4.29-4.39% range on 5 year funds. Variable rate mortgages are running around
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Here's another great article by Bob Arron: Earlier this month, the Supreme Court of Canada issued a decisive ruling that clarifies once and for all that the interest paid on a mortgage taken out to purchase a principal residence cannot be tax deductible
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Here's another great article by Bob Arron. The fallout from mortgage fraud cases in recent years continues to occupy the attention of lawyers, judges and the innocent parties involved. Back in 2006, Paul Reviczky rented out a house he owned on Sheppard
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Here is a good article by Bob Arron that decribes the importance of having a Home Inspection done. A recent decision of the Small Claims Court in Winnipeg illustrates whether the buyer or seller is responsible for damage to a home, which is discovered
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This is a good article from the Ottawa Citizen by Bert Hill Ottawa housing resales fell 18.7 per cent in January as nervous buyers continued to be distracted by a global recession. The biggest decliner was bungalow sales, off 26 per cent. Two-storey houses
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Another good article by Bert Hill of the Ottawa Citizen Ottawa housing construction starts fell 18 per cent in January as contractors cut back in the face of a troubled economy. Canada Mortgage and Housing Corp. said Monday there was a significant decline
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Ottawa's resale housing market continues to perform well despite sales and prices dropping in other Canadian markets. While the national price average for detached bungalows dropped 4.8 per cent over 2008, in Ottawa the price actually increased by
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Here is an excellent article written by Bob Aaron of the Toronto Star! Is a real estate agent responsible for accurately advertising the lot size? What happens if he or she gets it wrong? Those were the questions facing clients of mine recently. Last
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Canada's central bank chief, Mark Carney, predicted that the recession of 2009 will not last as long as previous recessions. The Bank of Canada Governor forcasted a decline of 1.2 per cent in Canada's economy in 2009, followed by an increase of
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The Bank of Canada lowered the overnight lending rate by .5 per cent to 1.0 per cent which is a total decrease of 3.5 per cent since December 2007. It is expected that the rate will lower even further after the next Bank of Canada announcement in March.
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The real estate market for Ottawa for 2009 is expected to be stable. Experts are predicting a balanced market which favours both buyers and sellers. In 2008, although there was a Canada-wide 15% reduction in home sales, the numbers in Ottawa showed only
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