Welcome to ottawahomesandcondos.com

We believe an informed client is strategic to the buying or selling of a home on the real estate market here at Ottawa Homes and Condos. Please feel free to explore this site for any of our houses/condos for sale, or our rentals. You will find current market information as well as access to all real estate listings in the Ottawa region. Our Condo Info section updates you on sales of condos in major buildings in the city of Ottawa and their real estate locations. If you have questions regarding real estate housing; condo or residential sales, please contact us.

Keeping you INFORMED:

New Mortgage Rules – Likely to affect “7-10%” of new buyers…

Applying for a new mortgage won’t be so easy after today’s announcement by Federal Finance Minister Bill Morneau. That’s because anyone looking to buy a home will have to qualify for that new mortgage based on posted rates, not discounted rates.

As MoneySense reported in June, up until now, homebuyers could skirt the rules if they opted for a five-year fixed rate. Rather than qualifying for the higher, posted rate, these buyers could qualify for the loan based on the much lower discounted rates, explained Calum Ross, a Toronto-based independent mortgage broker, who works with high net worth clients as a dually licensed wealth advisor (with his MBA) and mortgage broker.

How this loophole helped homebuyers

Under current Canadian mortgage qualification rules, home buyers can only get a mortgage if their debt-ratios show that they can make payments based on the Bank of Canada’s qualifying rate. This mortgage qualifying rate (MQR) is based on the posted five-year fixed rate and in 2015, it hovered around 4.65%.

However, until the Federal Minister made his announcement today, anyone opting for a five-year fixed didn’t have to use the 4.65% rate, but rather the much lower contract rate. In 2015, this contract rate bounced between 1.99% and 2.99%.

Thing is, the contract rate is the equivalent of a discount rate—and, at present, about 200 basis points below the stress-test mortgage qualifying rate.

Continue to the article READ ON!

Property Management and Rentals

We are also involved in residential property management in Ottawa. We deal directly with clients who want to list their property to rent, and also who need a property manager. Very competitive rates available.

For more information regarding this, contact Larry Balkwill or Conor Mangan at 613-237-2567, info@ottawahomesandcondos.com or by clicking here.

Market UPDATE:

– January 8, 2017

Happy New Year – Pausing to celebrate a steady, successful year in real estate – in the Nations Capital.

There were 165 sold in December 2016 as compared to 160 condos in 2015, for the same month. An increase of 3.1% in number of condo units sold. A strong finish to what was arguably, quite recently, the weakest sector in the Ottawa real estate market.

The average sale price of a condo was $262,698 in December 2016, compared to an average sale price of $250,393 in 2015 for the same month.  A 4.9% increase over the same time last year. Possibly the biggest shock at the end of the year?? Maybe. Who predicted a (nearly) 5% increase in condo prices? In Ottawa??

There were 550 residential houses sold in December 2016 as compared to 543 in December 2015. A 0% move in the number of houses sold in the resale market in Ottawa.

“Rick Eisert, the 2017 president of the Ottawa Real Estate Board, probably says it best when he stated ‘whatever is said in the history books about real estate in 2016, Ottawa had a great year!'”

The average sale price, of a residential home, for December 2016 was $420,750 compared to an average sale price of $386,963 in 2015 for the same month.  A 8.7% increase… yes, you’re eys are reading that right. 8.7 per cent! Nice increase here.

The $300,000 – $400,000 price range continues to have the highest concentration of properties sold followed by the $200,000 to $300,000 range. REALTORS assisted in renting roughly 3,053 properties for 2016.


Ottawa is one of the most stable real estate markets in Canada. Prices remain steady in Condos, residential units and multi-units, across the board. Re-visit Ottawa Homes and Condos for all the latest updates! We have some great listings on our featured listings page;  New real estate listings on the market!

Given excellent mortgage rates and flat pricing, this is an excellent time to emerge onto the market. Looking for a home? Please contact us. We want to be your agents! 613-237-2567 or 613-298-5101.