200 - 1335 Carling Avenue
Ottawa, Ontario
K1Z 8N8

Tel.: (613) 725-1171
Toll-free: 1-800-307-1545
Fax: (613) 725-3323

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The Lindsays Fall Market Approach

The market seems a little quieter. We had a busy summer with no real break from a busy spring. So, a slowdown is to be expected. The result is an inventory of some very fine homes, nicely priced. I tell people that if ever there is a time in the year when a bargain may occur, it will be in the autumn or around Christmas. For some people they do not like to start a New Year with last yearís business hanging over them.
One of the big issues we deal with now is the insurance issue. It seems to me that since September 11th 2001 insurance companies have become very tedious to deal with. Older homes present the greatest challenges. Wiring, galvanized pipes, asbestos around heating pipes and in the insulation in attics and walls is a big difficulty. There was an insulation used called vermiculite. The concern involves insulation produced from the Libby Mine in Montana from the 1920ís to 1990ís. It was sold as Monolith Attic Insulation. This is the insulation that MAY contain asbestos, maybe not. These products have not been used in Canada for at least 10 years. We understand that if you leave asbestos alone it should be okay, but the big problem is the insurance company. They do not like it! When I began my career in real estate Urea Formaldehyde insulation was the big bad problem, now we have several, knob and tube wiring, asbestos, lead pipes and the list goes on.
Son John is not only doing very well but really having a good time also. I knew he was well suited for this work and indeed he is. So the Lindsay Team approach the fall market with a strong positive outlook. Looking forward to hearing your thoughts and answering any questions related to real estate.
The average price of homes sold in Ottawa in August this year was $260,784. This is an increase of almost 9% over August 05th. Year to date the average price is $256,380. I would conclude by saying our Ottawa resale market is steady.
Happy Thanksgiving to you and your family!

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