Open House - The Real Estate & Mortgage Show: February 29, 2020
Multiple Offers continue to dominate the housing market in Ottawa
Home sales continue to be strong in the Ottawa Market.
Currently there only 1817 listings in the Ottawa area with the average sales prices in February of $494,000, residential home prices was $581,000 on average and condo prices are averaging $347,000.
In this spring market we are seeing many instances of ‘multiple offer’ situations for Buyers and this is why working with a trusted Realtor and Mortgage Broker will help you navigate this process. By knowing your market and working with a Mortgage Broker you can well position your home / purchase todays every changing real estate market.
If you are in the process of a buying a home, it is best to not add any additional debts to your scenario. This means, new car loans, additional credit card or line of credit debt. Lenders can pull a new credit bureau up until the day of closing. This is especially important when purchasing a new-build home when the closing date is a year or more in the future.