MattRichling.com

This sunday I am holding a open house at 806 High st. just off of Richmond and Pinecrest. It is amazing loft style unit that has been featured in the Ottawa Citizen! Tired of the same old stuff here in Ottawa??  806 High St. is waiting for you!

Did I mention that it is a freehold?? Meaning NO condo fees, NO maintence fees. Private garage space, basement for storage! Many upgrades to this unit, must be seen to be apriciated. If you wish to have a private showing please contact me 613-286-9501 or by email (Matt @ MattRichling.com).

Http://www.MattRichling.com - Matt Richling - Ottawa Real Estate Agent - Ottawa Condos - Ottawa Condos - Ottawa First Time Buyers

Do you know somebody who is thinking of buying or selling but is not 100% certain whether now is a good time or not? tell them the secret words - MATT RICHLING DOT COM

You can buy a new condo from the developer before or during its construction and also before the condo corporation is formed. A developer may have some unsold units available after the condominium has been completed and registered.

In some markets, the developer may wait to sell a large percentage of the units before registering the condo corporation or even starting construction.

Usually, a deposit is required to secure or reserve, a condo unit in a new development.

Buying a new condo. The Good Side:

• New home warranty protection. (Up to seven years)
• You have more choice of locations within the building; floor level, different views, etc.
• Customized design (in some cases); more options and upgrades to choose from.
• Newer buildings have less risk of having to undergo costly repairs and renovations.
• The purchase price could be lower than resale market condos. Especially in pre-sale phase of the construction.

Buying a new condo. The Bad Side:

• If the constructions have not started, you cannot physically see what you are buying and have to rely on floor plans and sketches that are subject to change.
• Your initial deposit will be locked up for the duration of construction.
• Some banks may refuse to give you a mortgage if the condo corporation has not been registered.
• The construction of the units may not be completed by the expected date. And the delivery date can be a lot later than originally agreed.
• It’s possible that you may move into your unit while construction continues in others.
• Last but not least; More taxes. New constructions have to pay GST. (Not the same as the Land Transfer Tax) But, the good news is: you might be eligible for a housing rebate.

So there you have it. The choice is yours.

Still want to buy a new condo? Send me an email - Matt @ MattRichling.com. Perhaps I can help you!!

I am a Grey’s Anatomy addict. Grey’s is a show that among others (Entourage, Million Dollar Listing, Californication, Mad Men, Nip/Tuck, and yes -don’t laugh Gossip Girl) that is always on the PVR (or downloaded if missed!). Maybe one of my many vices or just keeps me in-check. If you saw the show then you will understand, and if you are starting to think less about me due to my viewing habits, I will quickly get you up to speed.

On last nights show a doctor got fame for a method he mastered. He then named his new surgery method after himself. Another doctor had a method for doing “other things” (you can watch the show to get the details) and named it after himself.  Ok still awake?

The Richling Method.

I have decided that, not only does it sound cool but, I have perfected my way of working with you and my clients.  The Richling Method. After finding out what works, what does not, and how to streamline the entire process - its perfect (or DAMN near close! )! I want the best for my clients, absolutely the best treatment and care. Same with the fictional doctors in Grey’s, they (if they were real) have spent hours, if not days (if not weeks), perfecting everything. 

One of the very first things I do when I sit down with a new client is to outline this process. My goal is to allow them to learn from what my other clients have benefited from and to get the best out of the relationship with me. Working with just any agent is easy, but working with one that spends copious amounts of time 

Are you ready to benefit from this knowledge or know somebody who might? We can talk about the process and you too can learn The Richling Method!

Http://www.MattRichling.com - Matt Richling - Ottawa Real Estate Agent - Ottawa living!

This sunday from 2-4pm I will be holding a public open house at 375 Lisgar street Unit #901.

“Beautifully located two bedroom south facing condo with expansive views of urban Ottawa! Sun-filled and spacious with soaring high ceilings, this loft-style apartment is sure to please! Two spacious bedrooms, 2 luxury bathrooms, fabulous open-concept kitchen/great room, and birch strip hardwood flooring throughout. Great Room boasts a cozy double-sided gas fireplace, and a full wall of windows with patio doors leading to the large balcony. Won’t last!” - The MLS Listing

This is a great unit with a perfect central location. Built in 2005 this two bedroom, two bathroom unit includes all apliances and one parking spot.

For more information please conatct me directly at 613-286-9501 or by email matt @ RemaxAffiliates.ca!

Http://www.MattRichling.com - Matt Richling - Ottawa Real Estate Agent - Ottawa Condos - Ottawa Condos - Ottawa First Time Buyers

Do you know somebody who is thinking of buying or selling but is not 100% certain whether now is a good time or not? tell them the secret words - MATT RICHLING DOT COM

November 4, 2008 : Resale housing market eases in October; average sale price increases

Members of the Ottawa Real Estate Board sold 961 residential properties in October through the Board’s Multiple Listing Service® system compared with 1,094 in October 2007, a decrease of 12.2 per cent. There were 1,206 sales in September 2008.

“The resale market in Ottawa is easing back to around 2006 levels. Year-to-date, Ottawa’s resale home sales are ahead of where they were at the end of October 2006, and sale prices nudged upwards once again last month. At the end of October, 12,619 residential properties had been sold through MLS® this year, compared to 12,217 at the same time in 2006,” said Board President Heather Skuce.

The average price of residential properties, including condominiums, sold in October in the Ottawa area was $280,470, an increase of 2.2 per cent over October 2007. The Board cautions that average 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 price is calculated based on the total dollar volume of all properties sold.

Every day (many times - many, many times) I have the opportunity to deffend the housing market and why you shouldn’t be running around like the sky is falling. Well to add to my current explanation, Donald Trump recently posted why it is a good time to be buying and if there is going to be a time to buy, DO IT NOW!

While the press has made the economic downturn and the credit-default swap debacle a top story, don’t let it stop you from living your life and making your dreams come true.  Bad news sells better than good news and I am not here to sell anything.

Look at the hair..... Maybe Mr. Trump should shave it all off? (I have no hair)

Listen up to what I am about to say…the real estate market is not dead.  That being said, there has been a major correction to many of our nations markets but that is just the way that cycles work.  The question becomes:  Do you want to take advantage of the buying opportunities or sit on the sideline and wait for prices to head back up?

Investors who are flush with cash are making huge buys right now and picking up some great deals.  They recognize good deals when they see them and aren’t being frightened by the liberal media’s scare tactics.  Whether you are a small fish or a big fish, I would encourage you to meet with a commercial and/or residential lender to see what programs you may qualify for.  Identify this and then start shopping for some great properties at distressed prices.  I have personally seen some properties going for 30-40 cents on the dollar.  

Remember the 2 truths in real estate:

1. You make money in real estate when you buy it right.
2. Buy low-sell high and not the other way around.

My recommendation is to take advantage of the tough credit market and acquire great properties that will become valuable income producers while appreciating over the coming years.

GREAT ADVICE! Real estate is as much a personal investment as it is a financial investment. Meaning as much as you should be focusing on how much it fits with your life, you should also be thinking about the large financial decision you are about to make. It is not a short term, double your money in a year, type of investment. It is a LONG TERM investment. So unless you are planning on selling in the next couple years (if so then why are you buying?) this is a great time to be looking and thinking about your future.

Http://www.MattRichling.com - Matt Richling - Ottawa Real Estate Agent - Ottawa Condos - Ottawa Condos - Ottawa First Time Buyers

Do you know somebody who is thinking of buying or selling but is not 100% certain whether now is a good time or not? tell them the secret words - MATT RICHLING DOT COM

Last night, I attended along with the 300 other young professionals, Schmoozefest 08 at Foundation in the Market. It was a good little networking event that, from what I saw, went off without any problems helping to raise over $13,000 for the 2008 campaign.

Look at that sexy no-haired guy in the front row!

Some of the attendees included Max Keeping and Michael O’Byrne from CTV Ottawa, Karen Soloman of ‘A’, the ever-present auctioneer-par-excellence Lawrence Greenspon of Greenspon, Browne and Associates, Janice Charette, Deputy Minister HRSDC and the GCWCC Campaign Chair, Dennis Jackson of Scotiabank, Steve Georgopolous of Les Suites Hotel, Mo Charania of Jubilee Jewellers, Michael Allen of United Way/Centraide Ottawa, Laura Peck of McLoughlin Media, Sue O’Sullivan, Deputy Chief of the Ottawa Police Service along with several others including moi!

I look forward to Schmoozefest 2009  and if you cant wait until then, checkout:

Thursday, Oct. 30 - Mid Campaign at City Hall,  5 p.m. to 8 p.m. 
Saturday, Nov. 15 - Timeraiser at Canadian War Museum, 7 p.m. to 11 p.m.
Thursday, Dec. 2 - Campaign Achievement at Hampton Inn, 5 p.m. to 6:30 p.m.

For more information check out the United Way Ottawa website!

For pictures from last nights event check out the Flickr page here!

Http://www.MattRichling.com - Matt Richling - Ottawa Real Estate Agent

Introducing Karen and Rose from the LCBO Vintages. Every week they go over the entire selection and pick some of there favorites that give the best bang for the buck. I know this has nothing to do with buying or selling a home in Ottawa, but while you are browsing homes, grab a bottle and enjoy!

What you are going to see is the product code, the product, and then the price. 

Hello Everyone!

Winter’s coming and the cooler weather is directing our palates toward red wines and social gatherings to ward off the chill in the air.  I know we just got through Thanksgiving and all the excess of food, wine and family dysfunction that comes with that holiday; but the cooler weather calls for even more togetherness.   Social gatherings with friends and family warm the spirits – a much needed cure for the shorter, colder, darker days that come with the onset of winter.  We don’t mean to sound so depressive – but a good bottle of wine at a good price shared with chums is bound to buoy you!

This week’s value picks are: 

WHITE WINES

681247 Flat Rock Cellars Chardonnay 2006 (Ontario) $16.95
Big on tropical fruit, ripe peach and fresh green apple with a subtle hint of oak. 

677450 Dog Point Vineyard Sauvignon Blanc 2007 (New Zealand) $21.95
This is a classic New Zealand Sauvignon Blanc.  For those of you that adore that varietal from this fine wine producer, pick this up – you will not be disappointed.  Lots of guava, fresh cut grass and citrus notes.   

907568 Graham Beck Blanc De Blancs Premier Cuvée Brut 2005 (South Africa) $21.95
Alas South Africa made it on our list! This sparkler is a sure pleaser featuring crusty baked bread, citrus and candied apple on the finish.

RED WINES

984997 Tedeschi Capitel Dei Nicalo Valpolicella Classsico Superior 2006 (Veneto) $18.95
The Ripasso method is in play with this one.  That means that the grapes are partially sun-dried prior to pressing and the end result is concentrated fruit in the juice.  This is a dry, Old World style wine with big, woodsy flavours and aromas. 

084798 Zonin Valpolicella Superiore Ripasso 2006 (Veneto) $19.95
Incredibly elegant with cedar and smoky notes.  Chocolate/cherry segues to a hearty Italian red.  It is just GREAT!

077883 Two Hands Lucky Country Shiraz 2006 (Barossa Valley, South Australia) $17.95
This Aussie number is jam packed with dark fruits and some spice, high in alcohol and good acidity nicely balancing it out on a finish of good length. 

075101 Humberto Canale Gran Reserva Malbec 2006 (Patagonia, Argentina) $19.95
Here is a classic featuring juicy dark berries, toast, lively acidity and spice. 

903153 Lurton Reserva Malbec 2006 (Mendoza, Argentina) $13.95
Our beloved displaced Bordeaux Lurton frères aka Argentinean hermanos have given us the best value of the release with this one.  It is a big Malbec, bursting with berries and yet smooth and balanced at the same time. 

640888 Santa Carolina Barrica Selection Gran Reserva Carmenere 2006 (Chile) $14.95
Incredibly mouth-filling – this is a BIG wine that would be well-paired with a juicy, rare steak. 

586081 Sileni The Triangle Merlot 2006 (New Zealand) $18.95
A great balance of raspberry and subtle oak and vanilla flavours make this New Zealand wine go down easy – but not too easy.  There is great length with a bit of spice & bite to keep you on your toes.

590521 Colin_Bourisset Côte de Brouilly Les Terres Bleues 2006 (Beaujolais) $17.95
Check out the classy label, nicely balanced featuring plum and cherry. This is a fresh and lively fun wine that is food friendly.  Serve slightly chilled.

078725 Château Pineraie 2005 (Cahors) $17.95
The www.decanter.com note is bang on – “Opulent violet damson <a type of plum> aroma.  Smooth attach.  Vibrant fruit on mid-palate.  Tightly knit, well-balanced.  Long finish.”

085167 Frascole Chianti Rufina 2005 (Tuscany) $18.95
Dark fruit aromas and flavours with a hint of oak and some earth.  A nice old world style chianti.

080614 Grand’arte Alicante Bousche 2005 (Portugal) $14.95
Densely coloured with lots of dark fruit, some vanilla and spice and silky tannins creating a velvety mouth feel!  Well priced, this one’s a sure taker.

ALP

Rose & Karen

Negotiating is one of the least understood aspects of your property value. If you believe that the value is the value no matter what. No one can help you here. But consider this some people are better negotiators then others. If you’re recently out of the hospital and 90 years old you may be at a disadvantage compared to someone with a higher understanding of the processess and who has years of negotiating experience behind them.

Simply put there are two positions to negotiate from. Care to guess what they are? If you cant’ figure these out you should have an experienced negotiater representing you especially when selling or buying something as valuable as real estate.

You can negotiate from a position of strength or a position of weakness. Something else you have to understand when selling your home is that the price is only one small part of the contract, albeit an important part. Timing of conditions, wording of conditions and terms can have a substantial impact on your sale. If you’re like most people who don’t negotiate for a living then you probably won’t even be aware that negotiating tactics are being used on you.

Some real estate transactions can be complex and a simple explaination here on negotiating won’t suffice because negotiations can go so many different directions depending on the circumstances and personalities involved. The courts are littered with case law on Real Estate and ignorance is no excuse and can be extremely costly especially if you are representing yourself..

In fact most often a well negotiated contract is one that has no problems and therefore you may see limited value of how it was negotiated. In fact you may never realize how well it was done until the contract is tested. That’s when you will see the value of a properly negotiated contract.

Imagine you go to the Louvre in Paris, or any museum for that matter. You can walk through and with limited knowledge you might even enjoy your visit. Or you may just look at things and not even truly understand what the hell you’re looking at. Now go through with a guide. Someone who has been there before, someone who knows the subtleties, nuances and is there for your benefit. This can add priceless value to you.

Everything you do in selling your home, from the timing, to the marketing, to the service you receive, to the pricing strategy will determine if you negotiate from a position of strength or from a position of weakness.

An experienced negotiator can reduce risk and add significant value or like a virgin having sex for the first time you can cross your fingers and hope it all goes according to plan.

A great post from Sara MacLennan and Sheldon Johnston over at the Edmonton Real Estate Blog.

http://www.MattRichling.com - Matt Richling - Ottawa Real Estate Agent - Ottawa Condos - Ottawa Lofts - Ottawa Living

Yes, I understand how corney this picture is. Thank goodness its not me holding it.... If you can find a better picture I'll send you a $10 starbucks giftcard!

There’s been a lot of talk about real estate in the news in recent months. We’ve heard about declining housing starts, falling existing home sales, double-digit price depreciation, subprime fallout and foreclosures – in the United States. Fortunately, we live in Canada. And Canadian real estate markets are far-better positioned than their American counterparts for a good number of reasons.

1. Subprime mortgages represent less than five per cent of our market nationally.
2. Foreclosures occur in about one quarter of one per cent of mortgage transactions in this country.
3. Canadians have more equity in their homes.
4. We have less debt than our neighbours south of the border.
5. Speculation has played little or no role in existing home sales in Ontario.
6. The fundamentals of our economy are relatively solid. Of the G8 countries, only Canada is expected to show growth in 2008 and 2009.
7. The Canadian banking system is one of the best in the world, relying more on old-fashioned lending than innovative financial products geared toward profit.
8. The Canadian job market is stronger than the US, adding more than 200,000 jobs so far this year.
9. Interest rates remain favourable.
10. Housing values in Ontario major centres did not experience serious, double-digit price appreciation year-after-year for an extended period. Our markets were characterized by stable, healthy growth.
11. Immigration continues to play a key role in housing markets. Between 2001 and 2006, more than 1.1 million immigrants came to this country, with about half settling in the province of Ontario. Immigrants tend to purchase a home within the first five years of living in Canada.

Real estate is cyclical. There will be peaks and valleys. The more restrained the peak, the more modest the valley.

There is no question that market conditions have moderated from 2007’s record pace. More listings, softer housing values, longer days on market – but most centres are relatively solid. While some buyers and sellers will adopt a wait-and-see attitude, there are those that will continue to venture forward.

That said, sellers will need to be realistic in setting a selling price. Listing a property at fair-market value will ensure that it will sell in a reasonable amount of time. This is not the time to test the market. Those that are truly interested in selling their properties know that over-priced homes risk stagnation. Buyers in today’s market will need to be careful not to overextend themselves. They should know exactly what they can afford. Pre-approval for a mortgage loan is ideal because it lets buyers know exactly how much they can spend on their new home.

Looking forward, we anticipate a continuation of stable market activity, minus the urgency present in past. Gone are the multiple offers that left both buyers and sellers dissatisfied. The increase in the number of homes listed for sale are a definite advantage for purchasers who now have the luxury of time in making one of the most important decisions of a lifetime. For sellers, the time to trade-up has never been better.

Canadians are great believers in homeownership – a fact underscored by the close to 70 per cent who own homes in this country. History has proven time and time again that real estate is a solid, long-term investment that appreciates at a rate of about five per cent annually. You can’t live in your mutual fund, and after the last month in the financial markets, quite frankly, we’re not sure you’d want to.

Http://www.MattRichling.com - Matt Richling Real Estate Agent for Ottawa Canada. Ottawa Lofts, Ottawa Condos, First time buyers!

The financial well being of the condominium corporation is an important consideration. Buying on into a condominium corporation that is insufficiently funded to operate and maintain common elements is a risky proposition.

Low condo fees may make one condo more appealing than the others, but it may also be a sign that the condo corporation is not-prepared to fund major repairs and renewal projects. As a result, the condition of the property can deteriorate or you may be faced with substantial charges from the condo to cover repair costs as they occur.

Fortunately there are way to determine the financial status of the condominium, based on the documentation that the condo corporation is obliged to keep, such as annual operating budgets and end-of-year financial statements. An important part of the operating budget is the reserve or contingency fund.

The Reserve Fund

The purpose of a reserve fund is to provide financing for major repairs and renewal projects over the life of a condominium building. The fund essentially ensures that the common elements will be maintained in good shape for the life of the project. The amount required to be in the reserve fund depends upon the condition and life expectancy of all common elements in the building and the estimated costs to replace them over the life of the project. The amount each unit owner is required to contribute to the reserve fund, usually via monthly condo fees, is determined by estimating what would have to be set aside on a monthly basis to cover the long-term costs.

Reserve funds studies are updated from time to time, depending on provincial regulations or at the discretion of the condominium corporation. The studies are conducted by professionals capable of assessing the condition of the common elements of the building, estimating remaining life spans and the related repair and/or replacements costs. Based on their observations, these professionals estimate a monthly or annual contribution necessary to fund the long-term renewal of the common elements. After receiving the study, the Board of Directors can propose a plan for the sustainability of the fund, including monthly contribution from owners as part of the condo fees.

Moving into a new home where the reserve fund is under funded and major repairs are required will mean a significant increase in the condo fees or the special assessment to the unit owners by the condominium corporation. Special assessment charges can be high depending on the type of work required. Ensure you obtain and review the disclosure statement or the status certificate to determine the current estate of the reserve fund.

Source: CMHC.

When I checked my inbox this morning, it was like a mini christmas that had come early! I had received a testimonial from an amazing family that I had helped almost a year ago. The family, from a small town in England, was referred to me to help them find a new neighborhood to call home.

“Matt Richling’s level of service was second-to-none! His warm, professional manner made us feel at ease right away, and he showed great patience with us as we requested one showing after the next! We were only in Ottawa visiting for a week ( a trip from the UK) and so we kept him very busy with a hectic schedule. He was happy to go far afield to show properties, and made himself available whenever it was required.

Matt was very approachable and a huge help to us in choosing our future neighbourhood and home. He always had our best interests at heart, and we had every confidence in him as our realtor. He kept us well informed of the process every step of the way, and we knew we could call him at any time if we had any concerns or queries.

In addition, he went beyond the call of duty and kept a watchful eye on our home as it remained vacant for a few months earlier this year. He even helped us move in some of our furniture when we finally arrived!

We would very highly recommend Matt’s services to anyone looking to buy or sell a home.”
- Kay and Gary A.

If there is anything I can do to help you (yes you reading this) or someone close to you, let me know!!!

 I added this testimonial to my testimonials page.

Http://www.MattRichling.com - Matt Richling - Ottawa Real Estate - Ottawa Condos - Ottawa Lofts - Ottawa Living

What is a loft?

I like to define a loft as a “unit” that is a large open living space. It has character and is often going to be space that has not been separated into rooms and feature high ceilings and big windows.

There are three main types of lofts!

Hard lofts are building conversions. The developer has taken an existing building, such as a school, church, warehouse, or industrial building, and converted that space into individual living areas. They generally have large amounts of character and are often one off units that are unique with features such as exposed aged brick, steel duct work, concrete pilliars/floors, wood posts and/or beams.

  
Examples of Hard Lofts - Click to enlarge!

Soft lofts are newer buildings built with the purpose of residential living and often feature less character and more “condo” like. They will still feature high ceilings and large open spaces and windows, but not as many one-off features.

 
Examples of Soft Lofts - Click to enlarge!

The third type of loft is Work/Live loft. These types are not very common because they often feature less finishes and are sometimes only available to those who are active artists.

Still not too sure what the difference is between a loft and a condo??

Some differences that you will need to know before purchasing a Ottawa loft are: