Kiril Peev Blog
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My passion is helping my clients buy and sell real estate. I use my real estate experience and local neighborhood knowledge to add value to each individual situation. I also use my finance and economics background to make sure the numbers make sense. Explore the essential source for daily real estate news, homes for sale, expert advice, and the best neighborhoods in Ottawa.
Kiril Peev Blog
11M ago
Market Opportunities: June to the end of August is historically a great time to buy as demand tends to dip. There is enough inventory to choose from and there are opportunities for patient buyers. As demand starts to wane, sellers will be more open to negotiations. If you are thinking ..read more
Kiril Peev Blog
1y ago
The cost of financing an average single detached home in Ottawa assuming a 20% down payment and a fixed 5-year mortgage: October 2022 / Ave Price $717,000 / Mortgage Rate: 5.2% Monthly Payment: $3402 February 2022 / Ave Price $906,000 / Mortgage Rate: 2.6% Monthly Payment: $3283 ..read more
Kiril Peev Blog
1y ago
What are off-market properties? 1. Properties that are currently available for sale but not publicly advertised on the MLS system. 2. Properties that will be listed on the MLS system in the near future. Most homes take 1-2 months of prep work in order to be ready to list on ..read more
Kiril Peev Blog
1y ago
How much can list prices be negotiated in the current housing market? Most list prices start high and deals are closing well below the original list price. Buyers can and should be negotiating aggressively. I see about 50-100 price decreases per day in the greater Ottawa area. For sellers, it ..read more
Kiril Peev Blog
1y ago
Ottawa Real Estate: Relationship Between Inventory and Sales Prices As months of inventory increases and buyers have more choice, sales prices have been correcting downward. The main driving force behind the scenes has been the increase in mortgage rates from a low of 1.6% to the current 5%+ on ..read more
Kiril Peev Blog
1y ago
The Ottawa real estate market experienced record price growth from January 2020 to March 2022. During the first quarter of 2021 and 2022 buyers were paying about 110% over asking prices. The market has changed and most deals are closing around 95% of the original asking price which is in ..read more
Kiril Peev Blog
1y ago
What is the best time of year to buy real estate? The best time to buy is when there are less active buyers in the housing market. In Ottawa, this usually occurs in July and August (summer vacations) and November, December and January (snow, wind and the holiday season). With ..read more
Kiril Peev Blog
1y ago
Market Summary: The Ottawa real estate market continued to correct in October. Prices were down on a year to year basis as well as on a month to month basis. Detached home prices lost 6.0% from a year ago. They were also down about $32,000 on a month to month ..read more
Kiril Peev Blog
1y ago
Market Summary: The Ottawa real estate market experienced a noticeable slowdown in April 2022. While still a sellers’ market, prices have given back 2-3% from the March 2022 record highs. Detached homes gained 11.7% from a year ago. They were down about $30,000 on a month to month basis. Townhomes ..read more
Kiril Peev Blog
1y ago
A look at the 2022 Federal budget and it’s impact on Ottawa real estate. Building About $6.5 billion in money allocated to increasing supply long term. Multi-generational renovation tax credit for a secondary unit. Long term these initiative should help increase supply. Tax-Free First Home Savings Account Allows first ..read more