The Molly & Claude Team

The Molly & Claude Team Realtors Ottawa, Royal LePageTeam Realty

Open House
Sunday, April 7 – 2PM to 4PM
905-158A McArthur Avenue
Vanier
$319,900

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Discover spacious living in this large condo, featuring expansive bedrooms & custom storage in all closets, including two large entrance closets which separates the living areas for added privacy. Enjoy a custom insuite locker, a primary bedroom w a walk-in closet, & a newly renovated bathroom. The semi-open kitchen, featuring an island w bar stools, includes a fridge, stove, & microwave/hoodfan. Oak engineered wood flooring & crown moulding add elegance throughout, alongside energy-efficient convect-air heaters & recently updated windows. Basque in natural light & stunning views from a south-facing balcony overlooking Parliament Hill. Included is one indoor parking space & three bicycle areas. Benefit from amenities like salt-water pool, gym, sauna, library, & EV charging. Located near shopping, schools, restaurants, & public transit, w easy access to downtown, universities, & hospitals. Steps from the Rideau River trails & directly across from Loblaws, this condo offers convenience.


Additinal pics

Virtual Tour



Ottawa Condo for Sale
Vanier
905-158A McArthur Avenue
$319,900

by




Discover spacious living in this large condo, featuring expansive bedrooms & custom storage in all closets, including two large entrance closets which separates the living areas for added privacy. Enjoy a custom insuite locker, a primary bedroom w a walk-in closet, & a newly renovated bathroom. The semi-open kitchen, featuring an island w bar stools, includes a fridge, stove, & microwave/hoodfan. Oak engineered wood flooring & crown moulding add elegance throughout, alongside energy-efficient convect-air heaters & recently updated windows. Basque in natural light & stunning views from a south-facing balcony overlooking Parliament Hill. Included is one indoor parking space & three bicycle areas. Benefit from amenities like salt-water pool, gym, sauna, library, & EV charging. Located near shopping, schools, restaurants, & public transit, w easy access to downtown, universities, & hospitals. Steps from the Rideau River trails & directly across from Loblaws, this condo offers convenience.


Additinal pics

Virtual Tour



Ottawa Real Estate News Release (OREB) – Ottawa MLS® Market Shows Early Signs of a Buzzing Spring Market

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April 4, 2024

The number of homes sold through the MLS® System of the Ottawa Real Estate Board totaled 1,165 units in March 2024. This was an increase of 10% from March 2023.

Home sales were 21.5% below the five-year average and 15% below the 10-year average for the month of March.

On a year-to-date basis, home sales totaled 2,678 units over the first three months of the year — an increase of 13.1% from the same period in 2023.

“Ottawa’s real estate market is overall healthy, providing fertile ground for an active spring and summer ahead,” says OREB President Curtis Fillier. “The increases in new and active listings indicate that sellers are feeling more confident, boosted by the rise in showing activity. Buyers, however, aren’t acting as quickly as they perhaps should be — likely because affordability and supply are still roadblocks.”

“Something is around the corner in this market, though,” says Fillier. “People have adjusted to post-pandemic life and that means revisiting their housing needs. Some are downsizing or moving in from the city’s outskirts. Others are looking at more suitable properties that better meet all their needs, which weren’t accessible to them in the peak pandemic market. That’s creating pressure from multiple angles on the mid-range property market, which we know is tight to begin with in Ottawa. Just because you’re in the real estate market, doesn’t mean you’re safe from the market. If you’re a buyer or seller looking to make a move, I wouldn’t wait too long.”

By the Numbers – Prices:

  • The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.
  • The overall MLS® HPI composite benchmark price was $636,700 in March 2024, a gain of 2.7% from March 2023.
    • The benchmark price for single-family homes was $719,000, up 2.6% on a year-over-year basis in March.
    • By comparison, the benchmark price for a townhouse/row unit was $489,800, up slightly at 0.9% compared to a year earlier.
    • The benchmark apartment price was $423,200, up 4.3% from year-ago levels.

  • The average price of homes sold in March 2024 was $682,078 increasing 5.1% from March 2023. The more comprehensive year-to-date average price was $659,828, increasing by 3.2% from the first three months of 2023. The dollar volume of all home sales in March 2024 was $794.6 million, up 15.6% from the same month in 2023.
OREB cautions that the average sale price 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 calculation of the average sale price is based on the total dollar volume of all properties sold. Prices will vary from neighbourhood to neighbourhood.

By the Numbers – Inventory & New Listings

  • The number of new listings saw an increase of 13.5% from March 2023. There were 2,074 new residential listings in March 2024. New listings were 2.3% below the five-year average and 11.1% below the 10-year average for the month of March.
  • Active residential listings numbered 2,543 units on the market at the end of March 2024, a gain of 18.3% from March 2023. Active listings were 58.6% above the five-year average and 17.7% below the 10-year average for the month of March. Active listings haven’t been this high in the month of March in more than five years.
  • Months of inventory numbered 2.2 at the end of March 2024, up only slight from 2 in March 2023 and below the long-run average of 2.6 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Architecture – Korean Architecture – Part 3

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Donhwamum Gate
Main Gate of Changeokgung Palace



The architecture of the Korean Peninsula during the Goryeo (918–1392) and Joseon (1392–1897) dynasties showcases a rich diversity, evolving through influences from Buddhism, Confucianism, and the practical needs of daily life. Here’s an overview reflecting the variety in architectural styles and purposes:

Goryeo Dynasty Architecture


Religious:

The Goryeo dynasty, with its strong Buddhist influences, saw the construction of numerous temples and pagodas. A prominent example is the Gyeongcheonsa Pagoda, a marble pagoda that reflects the era’s sophisticated Buddhist architecture. Temples were adorned with intricate carvings, gilt bronze Buddhas, and were often situated in scenic locations to enhance spiritual contemplation.

Royal:

The capital city, Gaeseong, hosted the royal palace, which was the epicenter of Goryeo political and cultural life. Although much of the palace architecture has not survived, historical records describe it as a complex of grand buildings with curved tile roofs, wooden columns, and elaborate decorations.

Urban:

Gaeseong was also a hub of urban development, featuring well-organized streets and markets. The city was surrounded by walls for protection and controlled access, reflecting urban planning principles of the time.

Joseon Dynasty Architecture


Fortress:

With the advent of the Joseon dynasty, there was a shift towards Confucianism and military defense. This era is renowned for its fortress constructions, such as Hwaseong Fortress in Suwon, which was designed with both practical defense mechanisms and aesthetic considerations in mind. The fortress incorporates scientific and architectural innovations that were advanced for their time.

Religious:

Although Confucianism became the state ideology, Buddhism continued to influence religious architecture. However, Joseon temples were often more subdued compared to their Goryeo predecessors, reflecting Confucian values of simplicity and harmony with nature.

Royal:

Joseon dynasty palaces, such as Gyeongbokgung in Seoul, are iconic for their elegant and harmonious design, integrating with the natural landscape. These palaces were constructed according to Confucian principles, emphasizing symmetry, hierarchy, and the relationship between architecture and its natural surroundings.

Urban:

Joseon dynasty cities saw further development in urban planning and infrastructure. The capital, Hanyang (modern-day Seoul), was designed with major palaces at its center, surrounded by residential areas, markets, and administrative buildings, all encircled by city walls.

Vernacular:

Commoners’ houses, known as Hanok, were built according to the Korean principle of Baesanimsu, which dictates that the best houses are built with a mountain in the back and a river in the front. Hanoks were designed to be in harmony with their natural surroundings, featuring tiled roofs that curve upwards at the edges, wooden beams, and ondol (underfloor heating).

The transition from Goryeo to Joseon dynasty architecture reflects shifts in religious and philosophical influences, technological advancements, and the evolving needs of society. While Goryeo architecture was heavily influenced by Buddhism, Joseon architecture reflects a blend of Confucian principles, practical defense considerations, and an enduring respect for nature that has shaped Korea’s architectural heritage.


10 storey high marble pagoda
Gyongchaeonsa Temple




Bronze model pagoda
Goryeo Period
Leeum Museum Seoul




Chokseck Pavilion
Junju Fortress




Daeungbojeon Hall
Jongansa Temple




Daeungjeon Hall
Sudeoksa Temple




Daeungjeon Hall
Tongdosa Temple




Gakhwangjeon Hall
Buddhist Temple Hwaeomsa




Gwanghwamun Gate
Main gate of Gyongbokgung Palace




Gyeonghoeru
Royal Banquet Pavilin of Gyeongbakgung Palace




Hahoe Folk Village




Hahoe Folk Village




Honghwa Gate
Changgyonggung Palace




Hwaseong Fortress




Injeongjeon Hall
Throne Hall of Changdeokgung Palace




Jeonju Jywanggyo, 1603




Jongmyo
Confucian Shrine




Mireukjeon or Maitreya Hall
Geumsansa Temple




Muryangsujeon Main Hall
Buseoksa Temple




Myeongjeongjeon Throne Hall




Namdeamum Gate
One of the eight gates in the Fortress Wall of Seoul




Royal Library in the grounds of the secret garden
Changdeokgung Palace




Sangdang Mountain Fortress
Cheongju




Seokodang two storey building
Deoksuging Palace




Temple of Heaven




Typical Confucian Scholars Residence




Watch Tower
Hwaseong Fortress




Woljeong Temple Pagoda




Wooden Pagoda
Beopjusa Temple




Yongdong Folk Village



Maximizing Condo Resale Value: What Buyers Need to Know

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When considering the purchase of a condo, savvy buyers think beyond the initial appeal and amenities to the property’s potential resale value. Understanding the factors that influence this can make the difference between a wise investment and a financial misstep. This blog post will explore key elements affecting condo resale value, including location, size, amenities, and the broader real estate market’s health.

The Prime Driver: Location


Location is the cornerstone of real estate value, and condos are no exception. A condo in a desirable area—characterized by access to quality schools, public transportation, employment centers, and amenities like shopping, dining, and green spaces—will generally appreciate more over time. Urban centers and waterfront locales often command higher prices due to their convenience and appeal. Conversely, condos in less sought-after neighborhoods may not see as much appreciation, emphasizing the adage: “location, location, location.”

Size Matters


The size of a condo plays a significant role in its resale value. Generally, larger condos attract a higher price due to the increased living space, which is a critical factor for buyers looking for long-term homes. The number of bedrooms and bathrooms also influences resale value, with two-bedroom units often being more desirable than one-bedroom ones for their versatility. However, it’s essential to balance size with cost and location; a larger condo in a less desirable area may not appreciate as much as a smaller unit in a prime location.

The Appeal of Amenities


Amenities can significantly enhance a condo’s allure and, by extension, its resale value. High-quality, well-maintained amenities like fitness centers, pools, community gardens, and concierge services can make a condo stand out in a crowded market. Security features such as gated access and 24-hour surveillance also add value by appealing to safety-conscious buyers. However, it’s worth noting that luxury amenities can lead to higher condo fees, which might deter some buyers. The key is finding a balance that appeals to a broad market.

The Health of the Real Estate Market


The overall health of the real estate market is a crucial factor that affects condo resale value. In a booming market, condos, like other properties, are likely to appreciate. However, in downturns, condos can be among the first property types to see a decrease in value, as buyers opt for single-family homes if prices become comparable. Understanding market trends and economic indicators can help buyers time their purchases and sales to maximize investment returns.

Additional Factors Influencing Resale Value


  • Condition and Upkeep

    : A well-maintained condo is more attractive to potential buyers. Regular maintenance and timely upgrades can enhance resale value.

  • View and Unit Location:

    Units with appealing views or those located on higher floors typically sell for more. Proximity to elevators, stairways, and other building features can also impact desirability.

  • Customization and Upgrades:

    High-quality, tasteful upgrades can increase a condo’s appeal. However, overly personalized renovations may not always add value if they don’t align with general buyer preferences.

  • Community Health:

    The financial and operational health of the condo community and its corporation can influence resale value. Well-managed communities with healthy reserve funds and low conflict levels are more attractive to buyers.

  • Marketability:

    Factors such as the ease of renting the unit can also affect resale value, offering an income potential that might appeal to investor buyers.

Strategic Buying for Resale


To maximize potential resale value, buyers should consider the following strategies:

  • Research Thoroughly:

    Understand the neighborhood, the building, and the unit. Look into past price trends and future development plans for the area.

  • Consider Broad Appeal:

    Choose condos with features that appeal to a wide range of buyers, such as functional layouts and neutral finishes.

  • Evaluate the corporation:

    Assess the corporation’s financial health, fee structure, and management practices, as these can impact the community’s appeal and, consequently, resale values.

  • Time Your Purchase:

    Buying in a buyer’s market and selling in a seller’s market can maximize your investment’s return.

Conclusion


The potential resale value of a condo is influenced by a combination of factors, including location, size, amenities, and the overall health of the real estate market. By understanding these elements, buyers can make informed decisions that balance immediate needs with future resale potential. Investing in a condo is not just about finding a place to live; it’s also about making a smart financial decision that will pay off in the long run. Careful consideration of the factors outlined above can help buyers navigate the complexities of the condo market and secure a property that not only meets their current needs but also offers significant resale value in the future.

Spring Street Sweeping

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The spring street sweeping of Ottawa streets begin today. One of my favourite sight of the year for sure – it means winter is over and spring is here. Be aware of the temporary signage if you don’t want to be ticketed or towed away. Details here.

Condo Fees and Regulations

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Understanding condo fees and regulations

When you’re in the market for a new home, especially within a condominium or a planned community, understanding condo fees and regulations is crucial. These fees and rules play a significant role in your living experience and can have a substantial impact on your budget. This blog post will dive into the nitty-gritty of condo fees and regulations, helping prospective buyers make informed decisions.

What Are condo Fees?

Condo fees are monthly or annual charges that homeowners must pay when they purchase property within a community managed by a Homeowners Association. These fees are collected to maintain and improve the properties within the association, including common areas and shared amenities.

The Cost of Condo Fee

The cost of condo fees can vary widely depending on several factors, including the location, size, and level of amenities provided by the community. On average, fees can range from as low as $100 to $1000 or more per month. It’s essential to understand not only the current fee but also how often and by how much it has increased historically. This information can give you insight into future expenses.

Services and Amenities Covered by Condo Fees

Condo fees generally cover the maintenance of common areas and shared amenities. This can include:

  • Landscaping and Groundskeeping: Regular maintenance of shared outdoor spaces.
  • Building Maintenance: Upkeep of exteriors, roofs, and shared structures.
  • Amenities: Maintenance and operation of pools, fitness centers, clubhouses, and other amenities.
  • Security: Some communities may offer gated access, security personnel, or surveillance systems.
  • Utilities: In some cases, condo fees might cover utilities like water, sewer, trash removal, and sometimes even internet and cable services.
  • Insurance: Often, a portion of condo fees goes towards insurance for common areas and exteriors.
Understanding what services and amenities your condo fees cover is crucial, as this will affect your living experience and your budget. Ensure you get a detailed breakdown of what is included in your fees.

Condo Rules and Regulations

Every condo has its own set of rules and regulations, known as covenants, conditions, and restrictions. These rules can cover a wide range of topics, including:

  • Architectural Guidelines: Restrictions on changes to the exterior of your property, including landscaping, paint colors, and additions.
  • Occupancy Limits: Rules about the number of people who can live in a unit and restrictions on renting out the property.
  • Pet Policies: Limitations on the number, type, and size of pets you can have.
  • Noise and Conduct: Guidelines to minimize disturbances, such as quiet hours.
  • Parking: Regulations on where you can park and how many vehicles you can have.
These regulations are designed to maintain a certain standard of living within the community and protect property values. However, they can also be restrictive, so it’s important to review them carefully and decide if they align with your lifestyle.

Impact on Budget and Living Experience

Condo fees and regulations can significantly impact both your budget and your living experience. Higher fees can stretch your monthly budget but might also mean more luxurious amenities and better-maintained common areas. On the other hand, strict regulations might protect your investment but could also limit your freedom to make changes to your property.

Questions to Ask Before Buying
Before committing to a property governed by a condo association, consider asking the following questions:

  • What do the condo fees cover, and how often have they increased in the past?
  • What are the community’s rules and regulations, and how are they enforced?
  • Is there a reserve fund, and what does it cover?
  • Are there any pending legal actions or special assessments against the condo association?
Conclusion Condo fees and regulations are crucial factors to consider when purchasing a home in a community governed by a homeowners association. They can significantly affect your budget and living experience. By understanding what these fees cover, the rules and regulations of the condos, and asking the right questions, you can make an informed decision that aligns with your lifestyle and financial goals. Remember, living in a condo associcaiton nanaged community comes with both benefits and limitations, and weighing these carefully is key to finding your perfect home.

About Us

Molly Hoyle Sales Representative
Claude Jobin Représentant des ventes

E-Mail

claude@claudejobin.com




Phone / Address

Phone: 613.804.7979
1723 Carling Avenue
Ottawa, Ontario