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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"Good luck, good health and happiness" in 2010

Hi Everyone,
2009 was an interesting real estate year in Ottawa. We began the year sluggishly, people were apprehensive about the economic outlook. Job security is always at the top of the list of fears, personal finances took quite a hit for many last year, those with RRSP’s or those invested in the stock market. It has been my experience (starting my 26th year with Royal Lepage ) that the people of Ottawa are generally quite conservative and once they become fearful of market conditions they take a while to recover. However our market did bounce back in the late spring and moved steadily through December 2009.
At this point in early 2010 people seem to be regaining confidence in the real estate market. Interest rates remain low , even if they nudge up a little they are still historically very low. We continue to be experiencing a lower than usual inventory of homes for sale. The houses that fetch top dollars and sell most quickly are those updated in the 2000s it is hard to believe that a 90’s kitchen and bath Reno is a 20 year old Reno now and that doesn’t appear very fresh to a 25 year old buyer. When today’s buyer reads “renovated” or “updated” they expect the upgrades to have occurred in the 2000s.
When you hear or read of “multiple offers’ the home is usually well located , and completely renovated and in pristine condition. We remind ourselves that when these younger buyers say they are busy , we are apt to think “We are all busy” but must remember that they both work in demanding jobs and if children are involved they really are very busy and don’t have time to oversee a renovation, even decorating. So when such a house appears on the market there is a bit of a frenzy of activity and often it will sell over the asking price .
Recently a friend wished me “Good luck, good health and happiness “ in 2010. I told her if I had my health I would be happy and lucky. She told me an old aunt of hers told her, when she suggested the same response I gave, that she was wrong. She said, “ Those people who boarded The Titanic had their health!!” So I wish you, ”Good Luck, Health and Happiness in 2010 “
We were fortunate to have finished # 92 out of 14,000 Royal Lepage agents across Canada for 2009. We would like to thank you for your continued loyalty to us and for referring friends and family , I think you know that referrals of friends and family are the backbone of our business and we work hard to maintain your trust. Thank you. Please continue to think of The Lindsays, when you think of real estate needs.
Regards,
Mary , David and John Lindsay

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