Finally, Pathway Suites Are Here.... Wait, What Exactly Is A Pathway Suite?

SoHo Luxury Condominiums’ flagship project, SoHo Champagne, has changed buyers expectations since its introduction in 2011 - never before had Ottawa seen a hotel-inspired condominium with an on-site, hotel-trained concierge, over 15,000 sq. ft. of amenities, and touches of luxury found throughout the suites themselves and the common areas. Now you can add 'Pathway Suites' to that list.

The inevitable question - what's a Pathway Suite?  I'm glad you asked.  Pathway Suites are one of the newest additions to SoHo Champagne.  If you had attended the initial opening day launch of this project, you wouldn't have known about them, as they were originally 2 and 3 level Town Homes.  But the most frequently heard comment we received about the Town Homes was that there were too many stairs within the suite itself - something the potential buying group for these suites is trying to avoid by moving into a condo.  So, SoHo Champagne's architect, Roderick Lahey Architect Inc. (http://www.rodericklahey.ca/home.aspx), went back to the drawing board and came up with the Pathway Suites.

This collection of suites come in two different styles - 1 bedroom starting from $325,900 (805 sq. ft. - http://adhocimc.ca/admin/soho/champagne/pdf/PS2.pdf) and 2 bedroom starting from $556,900 (1323 sq. ft. - http://adhocimc.ca/admin/soho/champagne/pdf/PS1.pdf).  Both styles are located 4 steps off the ground and offer residents a 140+ sq. ft. terrace which includes a gas BBQ outlet, a private garden area and direct access to the Linear Park (a green space located in front of the terraces that has a paved pathway leading to the future Hickory St. bridge - once the bridge is built, Pathway Suite residents will be able to walk to Preston St. or to the Carling O-Train station from their own private entrance in less than a minute).

On a personal note, I've lived in a few different condos in my life time, some with great views of Parliament Hill, some in fantastic pedestrian-friendly locations and others with terraces - and of all the unique features I have enjoyed in these condos, I can honestly say a terrace made the biggest difference.  Most buildings don't offer very large balconies (if any at all) - they're usually somewhere around 4' to 4'6" in depth meaning a two-seat dinette set may not even fit.  Plus, if the building is over 4 floors and don't have a gas BBQ outlet, due to constrains from the Fire By-Law your only option is to use an electric BBQ, which is a slight step up from using a magnifying glass to heat up your hot dog.  When you live in a condo that is already smaller than the other alternatives (town homes and garden homes), having access to an exterior area that you can actually enjoy is priceless - it's almost like adding an additional room on to your property, a room you can BBQ in and get some fresh air.

So for those thinking that condos with terraces are only found on the Penthouse levels of buildings vaulting them out of the price range of most buyers, check out the new Pathway Suites at SoHo Champagne - visit www.SohoChampagne.com or 111 Champagne Ave. South, or better yet, message me for more details.

Thanks for reading.

Taylor Bennett
Sales Representative - Bennett Pros 
www.BennettPros.com
Taylor@bennettpros.com
@OttawaTails

Promotions can make all the difference...

The Ottawa condo market is competitive, VERY competitive.  There are so many different options out there it's easy for a project to get lost in the mix.  So, builders have elected to introduce a promotion or two to help their project stand out from the rest.

Promotions, like condos, can come in all shapes and sizes.  One of the more common promotions is a discount in price.  Why? Because it works - who doesn't like saving a little cash?  But at the end of the day, if a builder is willing to drop their price without any negotiation, they're essentially admitting that their product is overpriced to begin with, and if a builder is willing to admit that, then do you really want to buy an over priced property?  (side note: If you do, contact me immediately - I am certain I can help you find a few. Ha ha!)  And let's be honest, how many times have you seen "$XXXX savings if you buy now!" or "Buy today and get $XXXX cash back"?  Probably too often that it's become white noise.

So, how are builders getting their product noticed?  They got their creative juices flowing, that's how.  In the last 3 months alone I've seen promotions offering free furniture at Distillery Warehouse Lofts (http://distillerywarehouse.com/), free condo fees at Galleria 2 and SoHo Lisgar (http://richcraft.com/galleria2/index2.html & http://soholisgar.com/index.html), free property management, 6 month free mortgage at SoHo Champagne (http://sohochampagne.com/), and even free parking at 99 Parkdale and the Rhombus (http://99parkdale.com/ & http://111parkdale.com/).  But what does this all mean to you as a potential buyer?  Well, it can mean everything to your purchase.

Depending on your the intention of your purchase (investment, first home, down-size, etc....) some promotions may dramatically improve the value of your property, while others may add zero value - unfortunately, the choice isn't always obvious.  That's why having the help of an experienced investor or Realtor (or both) during the negotiation process is invaluable.

For more info about the various promotions offered around the city, or information on Ottawa's condo market, don't be shy to send me a message, follow me on Twitter (@OttawaTails) or visit my teams website - www.BennettPros.com

Thanks for reading.

Taylor Bennett
Sales Representative - Bennett Pros 
www.bennettpros.com
taylor@bennettpros.com
@OttawaTails

Historically Low Interest Rates Not Historically Low Anymore...

If you follow real estate closely, or even if you're a casual observer, you would know that since 2008 mortgage interest rates have been at historically (or perhaps even artificially) low levels, bottoming out at sub-2.5% (for a variable rate) and sub-3.0% (for a fixed rate). For some of you who may be looking to enter the real estate market for the first time, or bought your first home after 2008, you might not fully understand the advantage these low rates have on your purchase. And more importantly, what impact a higher (and more realistic) rate will have.

Let's take a look at the most recent increase - 2 weeks ago, a 5 year fixed rate was roughly 2.89%, today that same term of mortgage would be 3.49% (http://www.tdcanadatrust.com/products-services/banking/mortgages/numbers.jsp) - a modest 0.6% increase; no big deal, right? That increase only translates to roughly $30/month of interest for every $100,000 borrowed, or $1/day - no big deal indeed.

But let's say you're on the fence about buying that first or next home, and the low (but unsustainable) interest rates over the last 4 years have factored into your decision to hold off for another year to buy your next property - a decision many first-time and new home owners are contemplating. If Lawrence Yun, chief economist for the National Association of Realtors, prediction holds true and the mortgage interest rates increase as high as 5% in the next year, that extra $30/month of interest increases by almost 4 times to $114/month!! An extra $1,350 of interest annually, all because you waited 1 year - that's a week-long southern vacation or a new designer suit you could have bought instead of giving your bank more money. More so, if you currently had room in your monthly budget for an additional $114, and decided to buy today instead of waiting a year, that would enable you to increase your home hunting budget by approximately $30,000!! Still think it's no big deal?

No one has a crystal ball and no one can accurately predict the future of mortgage interest rates, but it doesn't take an economist to see that the interest rates can not remain at their current levels for much longer and many experts at Canada's big banks agree that over the next few years rates will continue to increase to more sustainable levels.

But one thing is for certain, mortgage rates will not drop any more than they have over the last 4 years - so if you're looking for a reason to step into the real estate market, it won't get much more affordable than it is now. For more information about interest rates, real estate in Ottawa, or buying your first home or investment property, please don't hesitate to contact me. Thanks for reading.

Taylor Bennett
Sales Representative - Bennett Pros 
www.bennettpros.com
taylor@bennettpros.com

Win a Weekend at the SoHo Met in Toronto!

This weekend there will be a live radio broadcast by Magic 100 held at the SoHo Champagne office - located at 111 Champagne Ave. Stop by the 4,000 sq. ft. show room to learn a little more and enter for your chance to win a weekend-stay at the penthouse at the SoHo Metropolitan in Toronto - a $5,000 value.

Experience the SoHo Met lifestyle first-hand before you move in to your hotel-inspired condo in Ottawa. Imagine having professional gyms, saunas/steam rooms, private movie theatres, infinity hot tub, wine cellar, etc... all available at your finger tips. Plus, don't forget about the exquisite hotel services you will have access to as well - whether it’s maid-cleaning for that impromptu visit from guests, or dog-walking service for those afternoons you can't make it home on time for your 4-legged friend. If you are in the market to pamper yourself and upgrade your lifestyle, look no further than SoHo Champagne.

If you've never heard of SoHo before, have a look at what you're missing
http://www.youtube.com/watch?v=VUX4rjZb0ss

For more information about SoHo or condominiums in Ottawa, please don't hesitate to contact me. Thanks for reading.

Taylor BennettSales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com

SoHo Champagne - Coming Next Month

For all of those patiently awaiting the launch of one of Ottawa's most sought-after condos - SoHo Champagne - the wait is almost over. In a little less than a month, on Saturday, June 4, 2011, Mastercraft Starwood will be releasing its 3rd luxury condominium project in Ottawa in Little Italy.

Located just one block west of Preston St., between Carling Ave. and Beech St., SoHo Champagne will offer its residents all of the neighbourhood amenities that one could desire - a lively night-life with near-by pubs and comedy clubs, delicious restaurants, walking distance to the Canal and Dow's Lake, established traffic arteries for easy access, and much more. To compliment the surrounding neighbourhood amenities, SoHo Champagne will offer its staple on-site amenities from saunas to hot tubs, from wine cellars to lounges, from private theatres to a professionally-ran gym, and everything in between.

If you’re tired of the “same old, same old” Ottawa condo and are ready to pamper yourself, SoHo Champagne will open your eyes to what a luxury condo can truly offer.
For a better understanding of what SoHo Luxury Condominiums offers, feel free to stop into the SoHo Lisgar presentation gallery (located at 300 Lisgar St. – between Bank St. and O’Connor St.) to see the difference between a regular condominium and a hotel-inspired condominium.

Click the following link to see what a local resident thinks about SoHo Champagne - http://www.youtube.com/watch?v=qQ9x_XpGCE0

For more information about SoHo or condominiums in Ottawa, please don't hesitate to contact me. Thanks for reading.

Taylor BennettSales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com

Hassle-Free Investment Condos

One of the biggest concerns I hear from client looking to become real estate investors is the managing aspect of the property itself - screening tenants, asking the proper questions, getting the proper paperwork and leases signed, setting the responsibilities of the tenant and owner, collecting rent, etc... It can be a daunting task for even the experienced investor.

Wouldn't it be nice to be able to buy a pre-construction condo and once you have closed it not only came fully furnished, but an on-site property manager was available to help you rent it to qualified tenants? Well that's precisely what SoHo Lisgar is offering.

If you have been following SoHo Luxury Condominiums closely, you would know that a certain amount of suites were reserved for long-term executive rentals - run and managed by an experienced property manager. Well, we have decided to expand the duties of the property manager: for a small fee, this on-site manager will helpful manage your furnished suite at SoHo Lisgar. In order to qualify, you need to purchase the furniture package (starting from $20,000) with your suite purchase. this package includes everything from a bed and bed frame, to a living room carpet to side table lamps, and much, much more.

For those of you who have had reservations when considering real estate as a condo, this is a great opportunity to get your feet wet and alleviate some of the stress that can come with owing an improperly managed investment condo.

But be sure to act fast, there is only a limited number of suites that will qualify for this great furniture and property managed package.

For more information about SoHo or condominiums in Ottawa, please don't hesitate to contact me. Thanks for reading.

Taylor Bennett
Sales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com

Got SoHo? Not Too Late To Secure Pre-Construction Pricing!

Still haven't had a chance to buy a SoHo Luxury condo yet? Well, there's still time to secure one of Ottawa's most sought after condos, SoHo Lisgar, at pre-construction pricing, but you must act quickly - because as of February 15th, 2011 the prices will be increased by as much as $20,000!

There are roughly 20 suites remaining for sale (both 1 bedroom and 2 bedroom)starting from $250,000 and ranging between 522 and 1032 sq. ft.

Whether you're an investor looking to secure instant home equity or a first-time buyer looking to get your feet wet in the condo market, there is something at SoHo Lisgar for everyone.

Contact the office today to arrange for a one-on-one meeting with one of the sales representatives - sales@soholisgar.com, or visit www.soholisgar.com for more information.

Thanks for reading!

Taylor Bennett
Sales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com

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