A new reality
We have all been incredibly spoiled in the last few months as the Ottawa resale market soared to ever more dizzy heights. No sooner did the For Sale sign go up on a property before there was a Sold sticker plastered across it. The wails of disappointed buyers could be detected on the evening breeze. OK, maybe I'm overstating the case but it did seem as if it could go on forever. But of course, nothing does and things changed abruptly at the end of June with the advent of the HST.
Suddenly the buyers had disappeared and sellers were scratching their heads in disbelief. Welcome to the new reality of the latter half of 2010. Sales have certainly slowed and there are more listings for buyers to choose from but it's not all bad news as prices have steadily risen. The Ottawa Citizen on August 17th published an article that examines the effect of the new tax and the confusion it has caused both here in Ontario and also in British Columbia. Here is a link to the Citizen story:
Taxation confusion hurting sales: Realtors
If you'd like to discuss this, please call me. I will be pleased to give you an opinion of market value and the straight goods on selling in this busy marketplace. |
