A Great Start to 2010 for Ottawa’s Housing Market

by qangelikar 10. February 2010 07:48

Ottawa, February 3, 2010 : Members of the Ottawa Real Estate Board sold 713 residential properties in January through the Board’s Multiple Listing Service® system compared with 529 in January 2009, an increase of 34.8 per cent. Of those sales, 156 were in the condominium property class, while 557 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“These numbers are more in line with what we might expect for a typical January, whereas 2009 started off abnormally slow due to uncertain financial and market conditions worldwide,” said Board President Pierre de Varennes. “Although listing inventory remains low, we expect that will change as we head into the spring market and interest rates remain low,” he added.

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $320,966, an increase of 11.4 per cent over January 2009. The average sale price for a condominium-class property was $259,273, an increase of 22.5 per cent over January 2009. The average sale price of a residential-class property was $338,244, an increase of 8.2 per cent over January 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.

The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA  (REALTOR®) and/or the quality of services they provide (MLS®).

 

 

 

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Winterlude Activities February 12th to 14th

by qangelikar 10. February 2010 06:37

DJ Dan Desnoyers

Confederation Park (Rogers Crystal Garden)
Saturday, February 13, 4 pm to 10:30 pm

Urban Art

Rideau Canal Skateway (Dows Lake)
Daily, from February 1 until the end of the skateway season

Young local artists share their vision of the Rideau Canal Skateway through the medium of graffiti art. This activity is to mark the 40th season of skating on the Rideau Canal.

 

 

Sun Life Movie Night on a Giant Snow Screen

Jacques-Cartier Park (Sun Life Stage)
Fridays, Saturdays and Sundays, starting at 6:30 pm

A presentation of winter-inspired, short animated films. A memorable experience under the stars!

 

 

Urban Knitting

Jacques-Cartier Park (Sun Life Snowflake Kingdom)
Saturdays and Sundays, noon to 4 pm

Knitting is back in fashion! Warm up in the Maison Charron and groove to the sounds of the DJ — while helping to create an original work of art!

 

 

 

National Snow Sculpture Competition

Jacques-Cartier Park (Sun Life Snowflake Kingdom)

With the theme of “Winter Fun,” teams representing Canada’s provinces and territories will demonstrate their artistic talent and creative expertise. The competition takes place from Tuesday, February 9, to Saturday, February 13, 9 am to 9 pm daily, with the exception of Saturday, when carvers will finish sculpting at noon. (For safety reasons, there will be no access to the sculpture site.)

The snow sculptures will be on display from Saturday, February 13, at 1 pm until Sunday, February 21, at 6 pm.

Presented by the Ville de Gatineau

 

 

 

The Canadian Naval Centennial

Confederation Park (Rogers Crystal Garden)
Starting Friday, February 12

A majestic sculpture honours those who proudly serve and who have served in the Canadian Navy.

 

 

 

Sub-Zero DJ Series

Confederation Park (Rogers Crystal Lounge)
Friday, February 12 and 19, and Saturday, February 13 and 20, 8 pm to 10:30 pm

Groove to the chillin’ sounds of DJs in the “coolest” sub-zero setting.

 

 

 

Craft and DJ Night With Spins & Needles

Confederation Park (Rogers Crystal Lounge)
Friday, February 12, 8 pm to 10:30 pm

Canada’s premiere creative night out that mixes hip do-it-yourself projects with funky music spun by DJ Jason Pelletier in various bars, galleries and other public spaces around the country and beyond.

www.spinsandneedles.com; www.myspace.com/jasonskilz

Sponsored by Rogers.

The March of the Bears

Confederation Park (Rogers Crystal Garden)
Saturdays, February 13 and 20 and Sundays February 14 and 21 


Inspired by the Ice Bear Project, “Polar Bears — On Thin Ice” will be launched in Québec City, with the unveiling of an ice sculpture of a polar bear carved around a bronze skeleton. As the ice melts to reveal the bronze skeleton, the sculpture will serve as a reminder of both the fragility of our Northern regions and the vulnerability of the entire human species to climate change. .

Organized by Equiterre.

 

 

Arctic Sports

Jacques-Cartier Park (Sun Life Snowflake Kingdom - Place Gatineau)
Saturday and Sunday, February 13 and 14, 10 am to 4:30 pm

Join in the fun activities inspired by our Northern traditions. Learn some of the most unique Arctic games.

 

 

 

Vote for the People’s Choice (National Snow Sculpture Competition)

Jacques-Cartier Park (Sun Life Snowflake Kingdom)
Saturday, February 13, 1 pm to 3:30 pm

Vote for your favourite sculpture!

Presented by the Ville de Gatineau and the NCC, in collaboration with Empire Grill.

Meet and Greet Canadian Snow Sculptors (National Snow Sculpture Competition)

Jacques-Cartier Park (Sun Life Snowflake Kingdom)
Saturday, February 13, 1 pm

Here’s your chance to meet the snow carvers and ask them about their art.

Presented by the Ville de Gatineau and the NCC, in collaboration with Empire Grill.

 

 

 

Presentation of the Jury’s Award and People’s Choice Award (National Snow Sculpture Competition)

Jacques-Cartier Park (Sun Life Snowflake Kingdom)
Saturday, February 13, around 4 pm

First, second and third prize for the Jury’s Award, as well as the People’s Choice Award, will be presented.

 

 

CICS One Block Ice-Carving Challenge

Confederation Park (Rogers Crystal Garden)
Sunday, February 14, 10:30 am to 12:30 pm
Interactive Public Vote Casting: 12:30 pm

Members of the Canadian Ice Carvers’ Society (CICS) demonstrate their skills in this friendly competition.

Organized in collaboration with the Canadian Ice Carvers’ Society and sponsored by Rogers.

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 Leo and Angelika Rosato 613-720-4888

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Rideau Canal Skateway

by qangelikar 9. February 2010 18:11

Rideau Canal Skateway

This winter kicks off the 40th skating season of the Rideau Canal Skateway!

 

Throughout the years, people of all ages have enjoyed the Rideau Canal Skateway — on sled, on foot, and of course, on skates! In winter, this historic navigable waterway becomes the world's largest skating rink and a magical 7.8-kilometre skateway of ice, in the very heart of Canada’s Capital. During Winterlude, the Rideau Canal Skateway is the site of the Winterlude Triathlon, the Bedzzz Annual Bed Race, skating demonstrations, workshops and much more.

Visit the Rideau Canal Skateway Official Website  http://www.canadascapital.gc.ca/bins/ncc_web_content_page.asp?cid=16297-16299-10080&lang=1   for ice condition updates, videos and a virtual tour.

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Latest Canadian Real Estate News

by qangelikar 4. February 2010 13:53

Canadian investment real estate market breathing a sigh of relief, Economic fundamentals show upward trajectories

TORONTO, Feb. 3 /CNW/ - Predicting the future is a near impossible task, but each quarter, the Real Property Association of Canada (REALpac) and FPL Advisory Group (FPL), ask the leaders of the Canadian real estate industry to do just that, as we conduct the REALpac/FPL Canadian Real Estate Sentiment Survey. Today, REALpac and FPL Advisory Group were pleased to release the First Quarter 2010 results.

While many things can be said about the year to come, perhaps the best is that it's neither 2008 nor 2009. Both were challenging years, though 2009 saw some positive surprises. Most notable is the fact that the downturn in Canada ended up being milder than expected and far milder than the one experienced in the U.S.

The current REALpac/FPL Canadian Real Estate Sentiment Index came in at 76 on an overall basis, up from 68 last quarter, which in turn marked a significant improvement from the 50 we saw in the third quarter of 2009. The Overall Index is measured on a scale of 1-100 and represents an average of the Future Conditions Index and the Current Conditions Index. To register an Index of 100, all respondents would have to answer that they believe conditions are "much better" today than one year ago and will be "much better" one year from now. Also, for the first time, we're seeing respondents feel better about where the industry is today compared to where the industry will be in 12 months, though by a very slim margin (78 and 75 respectively). As in the past, this data is consistent with the trajectory of The Real Estate Roundtable Sentiment Index in the U.S., though the Canadian results continue to reflect somewhat more optimism, particularly in perspectives on current conditions.

If we were to summarize overall expectations for the coming year, we would say that respondents are "cautiously optimistic. Similar to last quarter, a majority of respondents (58%) indicated that they expected the coming year to be "somewhat better", but now a further 23% are expecting the next year to be "much better", up from 14% last quarter. While the trading volume was thin in the past quarter, many respondents have expectations for increased volume and pricing stability in the coming year. Our survey and interviews reflect the sentiment that capital, particularly equity capital, is no longer a barrier to doing business in Canadian commercial real estate.

Throughout interviews, survey responses, and other discussions with Canadian real estate leaders, it seems clear that there is some hope for 2010. Most seem to expect a mild recovery that will pick up steam going into 2011 and 2012. Respondents are already noting debt and equity capital becoming more readily available and pricing stabilization, both of which bode well for the coming year. Metrics around economic fundamentals, while still relatively weak, are showing the right trajectories. Additionally, our respondents seem to expect improvement, both in their businesses and in the investment real estate market more broadly.

Unfortunately, weaknesses in key areas counter these reasons for optimism. Large transactions haven't resumed, and overall transaction volume is still light. The kinds of "great deals" on properties that can motivate more aggressive entry into the space don't seem to be appearing. The CMBS market is still largely frozen. Additionally, the U.S. is still reeling from its downturn, and the market there is well behind the Canadian one, potentially weakening Canadian economic fundamentals, lengthening the time to recovery, and siphoning off capital that could be deployed domestically.

Taken together, this picture offers reasonable grounds for optimism, though of the milder sort. Let's hope that the coming year delivers on its promise and that all of us experience a more profitable and rewarding one than in the recent past.

To download a copy of the survey report, please visit the REALpac website at www.realpac.ca.

 

About the REALpac/FPL Canadian Real Estate Sentiment Survey

 

As Canada's most comprehensive measure of senior executives' confidence in the Canadian commercial real estate industry, the Q1 2010 survey captured the thoughts of 62 leading real estate executives, including CEOs, Presidents, Board Members, and other leading executives from a broad set of real estate sectors including owners and asset managers, financial services providers, and building operators and related service providers. Survey respondents represent income producing real estate including office buildings, retail shopping centres, industrial buildings, hotels, multi-family residential (apartment buildings), and seniors residences. This quarterly economic survey serves as a gauge of senior real estate executives' confidence in financial and real estate markets in Canada. The REALpac/FPL Canadian Real Estate Sentiment Survey measures executives' current and future outlook in three areas including overall real estate conditions, real estate asset values, and availability of capital. Three Sentiment Indices comprise the survey including a Current Conditions, Future Conditions and Overall Conditions Index. The "REALpac/FPL Canadian Real Estate Sentiment Survey" is directly comparable to the "Real Estate Roundtable Sentiment Survey" in the U.S. (also conducted by FPL Associates, using an identical methodology).

 

About the Real Property Association of Canada

 

REALpac is Canada's premier industry association for investment real property leaders. Our mission is to collectively influence public policy, to educate government and the public, and to ensure stable and beneficial real estate capital and property markets in Canada.

REALpac Members currently own in excess of $150 Billion CAD in real estate assets located in the major centres across Canada. Members include real estate investment trusts, publicly traded and large private companies, banks, brokerages, crown corporations, investment dealers, life companies, lenders, and pension funds. For more information, please visit us at www.realpac.ca.

 

About FPL Advisory Group

 

FPL Advisory Group ("FPL") is a family of companies focused on providing highly specialized advisory services to the real estate and related operating and financial services industries. Through our complementary practice areas, we work with our clients to develop the right talent, leadership, structure, and strategies for success in today's intensely competitive marketplace.

FPL is comprised of two primary operating companies that work together to serve a common client base. Ferguson Partners provides executive, director, and professional search services. FPL Associates provides a range of specialized consulting and finance-related services in the areas of compensation, management consulting, executive onboarding, and succession planning. The firm is headquartered in Chicago and maintains offices in London, New York, San Francisco, and Tokyo. For more information, please visit www.fpladvisorygroup.com.

For further information: Michael Brooks, CEO, REALpac, (416) 642-2700 x.225, or Jonas Bordo, Senior Director, FPL Advisory Group, (888) 368-6598 (toll free)

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