Ottawas Condos Team Blog
Ottawa's Condos Team - Not Just a Condo Team
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This week's winner is...Krissy!

Here at Ottawa’s Condos, we are often asked the question:  “So do you just sell pre-construction?”

Well, the answer to this question is HECK NO.

It is quite obvious why someone would assume that we are restricted to selling condos since it says so right in our name! But as Shakespeare once said, “what’s in a name?”

There is much more to be offered by Jeff and the team then just pre-construction or re-sale condos. We have a vast range of clients all over the city (as well as out of the city) who have happily purchased and sold not only condos but town homes, single family homes, vacant land and waterfront properties as well.

We are also lucky to have a superior network of other professionals to refer our clients to. Whether it be a lawyer, a mortgage broker, a home inspector, a general contractor.. Basically anything you need along the way, the Ottawa's Condos Team is here to point you in the right direction. Our clients truly are the most important part of our business and we want to be able to help them in every way we can.

So take the time to spread the word and don't let a name fool you. There is much more than meets the eye.  Although we are well known as the "condo specialists", look a little deeper to see what else we have to offer. You will quickly see how good we are at all the other stuff too!

Thanks for reading!

Sutton Group Premier-Realty Kick Off 2012
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Wow! What a whirl wind of events 2011 brought us. Not only did our family grow from 3 sales people to 5 but we also gained a new office manager.  

At the Annual Sutton Group Premier Realty (2008) Kick Off our Team was proud to take first place for Sales Team of the Year 2011. We wanted to this moment to say thank  you to all of our past clients and current clients for believing in our marketing, negotiating and communication abilities.

As Jim Watson said at the kick off, “ I would never buy or sell my home without an agent because it is the largest investment I will ever make”.  We appreciate that our loyal clients can trust their investments to be taken care of by our team of dynamic, positive and energetic salespeople.

We are looking forward to 2012 and all of our future clients that can help us make 2012 above-above average!

Costs of Borrowing Reaches New Lows
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Much has been publicized recently about Canadian lenders offering fixed rate mortgages as low as 2.99%. The Bank of Montreal has a limited time offer for a 5 year term at 2.99% with many restrictions and conditions that adversely affect the promise of such a low rate.

In response, other major chartered lenders have launched their 4 year fixed rate terms at 2.99% without the restrictions of the BMO offer.

What does this mean to you?

If you’re in a variable rate mortgage and would consider converting your mortgage to a fixed rate term, now is a good time to inquire as to the low-rates available to you. We can help guide you through this process.

If you’re in a fixed rate mortgage currently you should examine the costs associated with breaking that term in favour of negotiating a new fixed term mortgage rate at 2.99%. We can help determine that calculation and help guide you through that process as well.

These rates present an incredible opportunity to help limit the interest costs associated with your household budget and can help you retire the mortgage faster.

What are you waiting for? Save your money!

How to Run an Office
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At Ottawas Condos Team, we pride ourselves on providing great service to our clients. This is achieved by being well organized, efficient and sometimes most importantly, patient. Luckily, these are all qualities possessed by office manager, Kath Tooley.

As a realtor, you are always on the go. So many things are happening at once, it is sometimes impossible to get everything done on you own. Having a great office manager makes it possible for everyone to function efficiently and to make sure our clients are getting the quality service they deserve.

Holding a position as an office manager is not always as easy as some might expect. Kath handles a wide array of duties on a daily basis and has a great responsibility of making sure everything gets done properly and on time! It is a stressful and important position within our office and the pressure can sometimes be significant.

With Kath’s great organizational skills, she alleviates a lot of the stresses we would have to face on our own. She handles appointments, listings, agreements,filing, websites...The list could go on and on. I am pretty sure that her full name is: Kath Multitask Tooley.

The most respectful thing about Kath in my opinion is that she treats everyone fairly. No one is favoured more than another and she is always there to help out when needed. If you are a client of Jeff Mziray’s or any member of the team, you have more than likely at one time or another been in touch with Kath Tooley. Working behind the scenes, her hard work may sometimes go unrecognized but surly not unappreciated!

If you have not been lucky enough to have worked with this fine young lady, I suggest you purchase a condo from us ASAP so you can see first hand how great she truly is.

Thanks Kath!

Condo BOOM!
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This week's blog winner goes to...JP! Enjoy the read :)

Condo sales are higher than ever! Tired of lawn maintenance, snow removal, repainting the exterior of your home every two years or that unexpected 20,000$+  roof replacement? A growing number of your neighbors are. Condominium living is becoming our generation's trendiest lifestyle; no surprise that we're seeing new condominium developments going up across the city month after month. The demand is there – and not about to decrease.

For today's students attending post-secondary education, young professionals, empty nesters or for those who simply enjoy the convenience of a maintenance-free residence, the condominium lifestyle has become a need rather than just a want. There's a shift going on in Ottawa. In the last five years, condominium sales have driven the stability of the resale market, gaining a 10-15% increase in value for units sold year after year. 

Not only are condos great for people who don’t want to do a lot of home maintenance, their monthly fees can also be ideal for people on a limited budget or fixed income. Since maintenance is paid incrementally through condo fees, owners won’t have to suddenly come up with a large sum of money to repair the foundation, for example.

Where there's high demand for saleable product, there's investment opportunity. Why not supercharge your capital's return? – make your money go to work! As a matter of fact, many individuals with extra capital in the bank – mostly gaining under 5% in yearly return - have been flocking toward condominium investment, and I don't blame them. Why settle for a petty 5% R.O.I when you can attain a hefty 10-15% return per year by having title to a product in so much demand?

Not ready to move? Not to worry. Ottawa's rental pool is vast, providing you with the option to lease your unit if need be – often for a rental amount equal or superior to that of your monthly mortgage payment. Whereas the stock market can yield high returns in short periods of time, its medium-high risk becomes an important and almost discouraging factor to consider. Ottawa's condominium market offers much lower risk due to high and continuing demand, steady and above average income per capita(91,000$ per year) on the national spectrum,  and all while being supported by a plethora of public servants with secure employment. As mentioned by the renowned Canadian Business-Money Sense magazine, Ottawa is Canada's #1 best place to live. What are you waiting for? Join the trend. Get on the train!

Buy and Sell Paper!
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Ottawa’s Condos Team “Blog Wars 2012”. With a new year in front of us and 2011 disappearing in the rear view the OCT has decided to bring in the new year with new goals. One of which is creating a new Blog and / or finding a great news article to post every two weeks in attempt to help keep everyone that checks out our site in the loop.

I have decided to Discuss a new to Ottawa, but old to bigger city centers concept called “Deal Assignments” or “Paper Sale”. This is the process by which an individual purchases a pre construction property and prior to closing on the transaction sells the deal to another individual via “Assignment”.

There are 4 parties involved in the “DEAL”. 1) The assignor – The original purchaser looking to sell their paper. 2) The Assignee – The person looking to buy a condo unit typically as an end user. 3) The Vendor – which is the builder whom is necessary in order to receive permission to perform the transaction. 4) The Real Estate Agent – Puts the deal together for the other 3 parties.

The typical reason for the emergence of this market is making money and saving money. The facts are that the Assignor is able to sell without closing costs, setting up a mortgage, title registration fees and discharge fees…. To name a few. The Assignee is able to purchase a brand new never lived in unit that is set to be ready in weeks, benefit from some of the savings that the assignor is willing to leave on the table from their early presale purchase and the possibility of capital appreciation accruing prior to the official registration of the subject unit.

In other words, BUY AND SELL PAPER

Is a Low Mortgage Rate Always the Best Option?
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How many times do we hear people talk about how low their mortgage rate is? But in reality, is it the best option for every home owner? Here are a few reasons why a low rate mortgage is not always the best option.

Low rate mortgages always seems like the best option but let’s say you decide or you have no choice to move before maturity, the penalty can be significantly high. At the end of the day, the higher rate presented by your mortgage agent could of actually been the best option suited for you. There are two different ways to evaluate a penalty; it’s either three months interest or the interest rate differential. The interest rate differential would be if you choose to pay off your mortgage prior to the maturity date or pay the mortgage principal down beyond the amount of your prepayment privileges.

A lower rate mortgage could also mean that your mortgage will not be portable to another property. With today’s new generation, people are more tempted to move from property to property and most of the time before their mortgage maturity date. The Ottawas Condos Team came up with a term called the Andrew Thake Disease. The symptoms for this disease would be when someone cannot live longer than 3-4 months in the same property. Also, employment relocation is another big factor that causes home owners to move before maturity. With today’s struggling economy, you never know what the future brings you so having non portable mortgage could end up very costly.

Paying high penalties and having a non portable mortgage are only two of many reasons why lower rates are not always the best option. Sometimes going with a higher rate would give you more flexibility and more financial gain then a low rate mortgage would. One thing I would recommend to everyone looking into a mortage would be to weigh every possible option presented to you. It is probably the biggest financial commitment you will have to do so make sure when choosing a mortgage that you allow yourself reasonable time to find out what product best suit your lifestyle and financial health.

What's So Special?
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What's So Special?

Some may wonder, "what is this downtown condo boom all about?" It seems that at least one person you know now either owns a downtown condo or has or will be purchasing one in the next few months. Well, myself, Jeff and Max all live in downtown condos...Here are a few of the reasons why living in a  downtown condo is not just a small place to live but also a lifestyle.


 Condominiums are what I call, "short cut to home ownership". They provide the ability to own a property, pay down the principle on a mortgage and gain capital appreciation without the maintenance and repairs. You will generally pay what is called a condominium fee monthly which will usually go to the Reserve Fund(money that is kept for repairs and maintenance), building insurance, municipal water and sometimes heating.  Apartment style condominiums are maintained by the property management groups hired by the condominium board and cleaned and landscaped by the companies which they outsource. Insurance generally covers any repairs that are necessary in the common elements as well as in your unit if they were caused by a common element (ie pipes, etc)

Not to mention, if you like travelling just pack your bags and lock your door. You don't have to worry about your neighbour getting your mail, cutting your lawn and shoveling the  lane way (really, what neighbour would ever want to do this???)


Downtown living is best for all types of individuals. Whether you are a single male or female you have access to restaurants, libraries, museums, universities, thrift shops, churches etc.... May it be senior citizens who can easily walk to grocery stores, pharmacies . What else can you find downtown? You can find shops,historical buildings, libraries, universities, a variety of restaurants from all countries..

Here are a few restaurants we would suggest trying:

For Sushi: located on Lisgar between Elgin and Metcalfe

For located on Somerset between Bank and Kent

For East African: located on Rideau Street between Friel and Augusta

For North American: "Memories" located at 7 Clarence between Sussex and Parent


Living downtown allows you to access all corners of the city via different modes of transport. You can take any public transit city bus, find a cab station, walk along one of the beautiful landscaped paths,  ride bike or rollerblade beside the Rideau Canal, or even skate down the canal from Island  Park to downtown.

Below is the contact for different modes of transportation:

OC Transpo:

Blue Line Taxi:

Truth of the matter, what more do you need outside of simplicity, location and ease of access?

Ottawa's First Snowfall on New Construction
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Located on McLeod and Bank Street is the phase 3 of Central by Urban Capital. This new and funky condo development will be similar to a resort in your own city! Tucked away behind the building is a pool, cabanas and barbecue area . The interior amenities include gym, party room, lounge, and lobby. Expect this building to be ready for 2014. Can't wait!

Gotham by Lamb Development Corp
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Welcome to the Gotham by Lamb Development Corp. This sleek and sophisticated building is located in the heart of the financial district and just North of Centretown. Expect a lot of glass, beautiful finishings and an intriguing curb appeal.

This should be incredible!

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