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Six places in Ottawa you can get for the national average home price



The national average home price in Canada dropped nearly 10 per cent in October, according to a recent report from the Canadian Real Estate Association.

The CREA said Tuesday that sales totalled 35,380 in October, a 1.3 per cent increase from September, but a 36 per cent drop from a year ago. The actual national average home price was $644,643 in October, down 9.9 per cent from the same month last year. takes a look at five houses and one condo you can get for around the national average price.

112 Whispering Winds Way

This three-bedroom, three-bathroom home in Orléans is listed at $644,000.


“Grand Foyer with double coat closet and convenient powder room with quartz countertop. The Kitchen is open to the living & dining spaces and defined by its chocolate toned cabinetry, granite counters, pot lights, and island with sink,” the listing says.

“Patio doors off the dining area lead out to the fully fenced rear yard. The living room focuses on a gas fireplace with wood display mantle. Upstairs, large primary bedroom offers double door access to the front balcony, walk-in closet, and luxurious five-piece en-suite boasting a Jacuzzi tub.”

112 Whispering Winds Way. (

1046 Ballyhale Heights

This three-bedroom, three-bathroom home in the Quinn’s Pointe area is listed at $644,800.

“The Haven is the latest of Minto’s luxurious Executive Townhomes, boasting a light-filled, open-concept main floor,” the listing describes. “Gorgeous light finishes enhance the sunlight that streams in through both the front and back of the house, making the open galley kitchen, living and dining room feel expansive yet warm. The 9ft ceilings on the main floor add to the sense of space.”

1046 Ballyhale Heights. (

1015 Frances Street

This home is a three-bedroom, two-bathroom bungalow in the Castle Heights area, described as an ideal buy for first-time buyers, investors and downsizers.

It’s listed for $645,000.

“The sun filled main floor hosts a sizeable kitchen outfitted with ample cabinetry and centre island with breakfast bar seating that overlooks charming living room and dining room with gleaming hardwood flooring and picture windows. Three well-sized bedrooms and family bath complete this level,” the listing says.

The house also has a finished basement with bar nook and a wood-burning fireplace.

1015 Frances St. (

533 Acceptance Place

This three-bedroom, three-bathroom townhome in the Glenview area of Kanata is listed for $645,000.

“As your enter the home and make your way into the bright and open living/dining/kitchen area you will immediately realize that this is not like the other town homes on the market; Featuring LED pot lights; light hardwood; extend rich cabinetry, granite counters; stainless steel appliances and added side windows, this level is an entertainer’s dream,” says

533 Acceptance Place. (

150 Whitestone Drive

A three-bedroom, two-bathroom home in Ottawa’s Central Park neighbourhood, this “excellent family home or investment property” goes for $645,000.

According to, the home has undergone extensive recent upgrades, including fresh paint, new laminate flooring, new carpets on the stairs and a kitchen and main bathroom renovation.

“Main floor features inside entry to the garage, hardwood/laminate and tile floors, pot lights, open concept living room, dining room and kitchen as well as easy access to the backyard. Upper level provides 3 good sized bedrooms, one full bath, master bedroom with big walk-in closet.”

150 Whitestone Drive. (

242 Rideau Street, Unit #601

This downtown, two-bedroom, two-bathroom condo is listed at $639,900.

The apartment features panoramic floor-to-ceiling wraparound windows and boasts a “stylish entertainment kitchen,” according to, and an open-concept living room.

“Enjoy spectacular views and lifestyle from this 2-bedrooms, 2-bathroom condo in the core of downtown Ottawa… Building amenities include indoor pool, sauna, gym, outdoor terrace with barbecue area, theatre and 24-hour security.”

242 Rideau Street. (

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Why commercial real estate can be a great hedge against inflation – Financial Post



Earn passive income and protect your wealth without doling out thousands

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This article was created by MoneyWise. Postmedia and MoneyWise may earn an affiliate commission through links on this page.

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Despite inflation rates dropping to 6.3 per cent — the largest dip since Feb. 2022 — the economy’s volatility isn’t fading anytime soon.

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In fact, experts predict another year of rising inflation, hikes in interest rates and a mild recession for 2023.

Finding a safe investment to act as a hedge and bulk up your income is essential during economic uncertainty. The right investment can support you in an emergency and safeguard the future of your finances.

As a tangible asset with plenty of cash-flow potential, commercial real estate is a great place to invest to protect your money and your future.

Build financial freedom with real estate investing

Commercial real estate is an enticing investment that can diversify your portfolio and generate consistent passive income.

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Forbes reported that over the past 25 years, commercial real estate has outperformed the S&P 500 Index with average annual returns of 10.3 per cent.

Plus, because of the income it generates and its tangibility, commercial real estate acts as a hedge against inflation. When the value of the dollar drops, property values tend to increase and your real estate investment returns prove themselves lucrative.

It’s a solid investment choice for people looking to build their portfolios and protect their wealth for the future, but it hasn’t always been accessible.

Invest like a millionaire without having to be one

Because commercial real estate investing is not typically offered on a fractional basis, the barrier to entry has been prohibitively high for most investors.

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In the best-case scenario, a lender will ask the investor to put down a minimum of 20 per cent in equity before acquiring a property.

But, through tokenization, HoneyBricks has made commercial real estate investing available to accredited investors looking to build their wealth.

You don’t need to be a millionaire to invest in real estate that produces strong, stable returns. In fact, all you need is a minimum of $100 to invest in your first property and start reaping the rewards of a consistent passive income.

It only takes minutes to create your free account and start investing through HoneyBricks.

With investments both vetted and managed by their experienced team, you don’t have to stress about the status of this stable investment available right at your fingertips.

Sign up for HoneyBricks today and start building a future of financial freedom.

This article was created by Wise Publishing. Wise is devoted to providing information that helps readers navigate the complex landscape of personal finance. Wise only partners with brands it trusts and believes may be helpful to the reader. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.


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Real estate agents say they can't imagine working without ChatGPT now – CNN




If you came across a four bedroom, 3.5 bathroom home listed for sale recently on a quiet cul-de-sac in Cedar Rapids, Iowa, you might not think twice about the online listing. It included typical real estate descriptions like “ideal for entertaining” and “ample space for relaxation.”

But JJ Johannes, the realtor for the home, created the description in less than five seconds by typing a few keywords into ChatGPT, a viral new AI chatbot tool that can generate elaborate responses to user prompts. It’s a task, he said, that would otherwise have taken him an hour or more to write on his own.

“It saved me so much time,” Johannes told CNN, noting he made a few tweaks and edits to ChatGPT’s work before publishing it. “It’s not perfect but it was a great starting point. My background is in technology and writing something eloquent takes time. This made it so much easier.”


ChatGPT passes exams from law and business schools

Johannes is among the real estate agents experimenting with ChatGPT since it was released publicly in late November. Some residential and commercial agents told CNN it has already changed the way they work, from writing listings and social media posts to drafting legal documents. It could also be used to automate repetitive tasks such as answering frequently asked questions and doing complex calculations.

ChatGPT is trained on vast amounts of online data in order to generate responses to user prompts. It has written original essays, stories, song lyrics and research paper abstracts that fooled some scientists. Some CEOs have used it to write emails or do accounting work. It even passed an exam at an Ivy League school. (It has, however, raised concerns among some for its potential to enable cheating and for its inaccuracies.)

Miami real estate broker Andres Asion.

In less than two months, ChatGPT has sparked discussions around its potential to disrupt various industries, from publishing to law. But it’s already having a tangible impact on how a number of real estate agents around the country do their jobs – where much of the written work can be formulaic and time consuming – to the extent that some can no longer imagine working without it.

“I’ve been using it for more than a month, and I can’t remember the last time something has wowed me this much,” said Andres Asion, a broker from the Miami Real Estate Group.

‘As soon as I tried it out, I was sold”

Recently, a client reached out to Asion with a problem: the woman had moved into a pre-construction home and couldn’t open her windows. She had attempted to contact the developer for months with no response. Asion ran a copy of one of her emails through ChatGPT, asking it to rewrite it with an emphasis on the liability implications.

“ChatGPT wrote it as a legal issue and all of a sudden, the developer showed up at her house,” he said.

How Microsoft could use ChatGPT to supercharge its products

Asion has also used the tool to draft legally binding addendums and other documents, and sent them to lawyers for approval. “I fine-tune all kinds of drafts with ChatGPT,” he said. “Sometimes I’ll tell it to make it shorter or funnier, and it gives you so many samples to pick and edit from.”

ChatGPT is free for now, but OpenAI, the company behind it, is reportedly considering a monthly charge of $42. Asion said “it’s not even a question” he would pay for access. “I would easily pay $100 or $200 a year for something like this,” he said. “I’d be crazy not to.”

Frank Trelles, a commercial real estate agent at State Street Realty in Miami, said he’d also pay to keep using the tool, which has already impacted the way he does business. “As soon as I tried it out, I was sold,” he said. “I went to sign up for a package, thinking it would be at least $100 a month, and was blown away that it was free. Nothing in this world is free though – and that made me a bit nervous.”

Trelles said he uses ChatGPT to look up the permitted uses for certain land and zones in Miami-Dade County, and calculate what mortgage payments or return on investment might be for a client, which typically involve formulas and mortgage calculators.

“I can be in a car with a client when they ask me what their mortgage payments might be,” said Trelles. “I can ask ChatGPT what a mortgage payment would be on a $14 million purchase at a 7.2% interest rate advertised over 25 years with two origination points at closing, and in two seconds, it gives me that information. It also explains how it got the answer. It’s amazing.”

Lots of potential, and some limitations

There are some limitations, however. The tool has, for example, struggled with some basic math before. Trelles said it’s helpful for approximations on the go, not for exact numbers.

Serge Reda, a commercial real estate executive and adjunct professor at the Fordham Real Estate Institute, said some use cases for ChatGPT are better than others. ChatGPT may help save brokers time when writing listings or responses, but automating client responses may not be the best tactic because generating leads and closing transactions typically requires a personalized approach.

New York City public schools ban access to AI tool that could help students cheat

“It’s accessible to everyone right now because it’s free and they can get a taste of how this powerful tool can work. But there are definitely significant limitations,” he said.

While ChatGPT has generated a wave of interest among realtors, incorporating artificial intelligence in the real estate market isn’t entirely new. Listing site Zillow, for example, has used AI for 3D mapping, creating automatic floor plans and for its Zestimate tool, which can scan pictures to see if a home has hardwood floors or stainless steel appliances so its price estimation better reflects market conditions. Earlier this week, Zillow rolled out an AI-feature that lets potential buyers conduct searches in a more natural language (something that’s long been mastered by Google).

Matt Kreamer, a spokesperson for Zillow, said the real estate industry has been slower to innovate, but “I think we’ll be seeing much bigger strides very soon.” He said Zillow sees no clear concerns with agents using ChatGPT to help streamline the work they already do and save time.

“We aren’t promoting or weary of ChatGPT but are interested in how it’s being used and watching it,” he said.

Although it’s too early to say if the tool will become a mainstay in real estate, realtor Johannes believes AI in general will transform his industry and others.

“It may not be with ChatGPT,” he said, “but I believe some form of artificial intelligence like this will become a big part of how we work and live our lives.”

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Investing in REITs vs. Direct Real Estate



Real estate sector illustration with photos of suburbs and upward pointing arrows

Despite the volatility and uncertainty of the housing market over the past three years, real estate remains a valuable part of an investor’s portfolio.

Potential owners are understandably left uneasy as mortgage rates are sharply higher and home prices have slowly declined after a decadelong advance. However, over the long run, we’ve shown that real estate returns tend to fare well. Ideally, your investment portfolio should allocate between 5% and 20% to real estate, but the best avenue for reaching that exposure depends on your situation.

Below, we showcase a continuum of real estate investments by the degree of personal involvement and responsibilities. And here, we break down the benefits and drawbacks of each.


Pros and Cons of Investing in REITs

REITs can be a good choice because:

  • Buying and selling REIT shares is easier than it is with a physical property.
  • They obviate the need for market-specific knowledge and property management while making it easier to diversify your real estate portfolio. Instead of owning one concentrated position, you own a fraction of tens, hundreds, or thousands.
  • They won’t require you to start a mortgage on an investment property and make investing in out-of-state real estate easier.

Finally, the issue of taxes. REITs enjoy favourable tax treatment, avoiding them entirely if they pass along an adequate share of earnings directly to investors.

However, this typically means REITs have large dividend yields, and dividends are unfavorably taxed relative to capital gains for high-income investors. For those in higher tax brackets, this could be unpalatable. In contrast, direct real estate ownership provides exceptional tax benefits if managed carefully.

Pros and Cons of Investing Directly in Real Estate

On the other hand, if you prioritize agency in an asset by limiting intermediaries, then directly purchasing a property could be right for you.

When you own, manage, and eventually sell an investment property, there are advantages in the tax department related to expense deductions and capital cost allowances. There’s also a wider range of potential outcomes, depending on your property’s type and location, relative to diversified REITs.

Directly investing in real estate can be financially rewarding, but it usually requires significant cash, due-diligence work, and time. Some may rely on a property manager, but this comes at the cost of profit margins. If you need cash, selling a property can take months and be costly, especially if you are not reinvesting the proceeds in another rental property. This investment strategy may be appropriate if you have extra time and cash.

Should I Invest in Real Estate Directly or Indirectly?

Unraveling the nuances of the housing market can be confusing. Below, we leverage different personas to guide investors toward the right choice.

A successful and busy professional: Property ownership could be costly or infeasible if you don’t have time to deal with tenants or maintenance, so passively investing is likely the right choice, as REITs minimize time and effort while improving risk-adjusted returns in a mixed-asset portfolio.

Sophisticated or wealthy investors could consider becoming a silent partner to an active investor, which could generate higher returns but comes with substantial risk.

A flexible professional: Early careerists or those with flexible jobs may consider making real estate into a part-time job or hobby. Risk appetite, liquidity needs, and your willingness to earn sweat equity will inform the appropriate choice.

Purchasing a rental property could make sense if you’ve already built a traditional investment nest egg and have excess savings. Your spare time and capital can be invested into a specific asset in the right market, and you can leverage real estate’s tax treatment to boost your aftertax returns. Choosing tenants and working with maintenance providers is the time cost of actively investing in real estate.

Active investors have a wide range of opportunities to pursue. For example, if an investor has an appetite for remodeling, a fixer-upper could be an option. Between the tax benefits and leveraged nature of housing, this approach can compound returns quickly.

However, purchasing an illiquid asset could be a costly mistake if you don’t have an adequate financial cushion or suddenly need cash. On the other hand, buying shares of a diversified REIT at the right price could provide the diversification benefits you’re looking for without limiting portfolio liquidity.

Retired or self-employed: Professionals planning for retirement or without guaranteed income may lean toward real estate for steady income. Depending on the investor’s willingness to get hands-on, either a traditional investment or a REIT may be appropriate.

Empty nesters who plan to downsize or those who want to relocate may benefit from turning their current home into a rental property, especially if property prices are soft. If you purchase a home with a low interest rate and transition it into a rental, your investment property retains this perk and increases your positive cash flow. In addition, since a rental property is not treated as earned income, it is exempt from self-employment tax, or FICA tax. If time is a factor, then hiring a property manager for day-to-day decision-making could be right for you but will offset returns and may still take some of your time.

Shifting your investment strategy to REITs might be appropriate if free time is important to you but you desire a steady income. Perhaps you already have a passive income stream or a sizable investment portfolio. Taking advantage of diversified REITs is a strong choice for keeping your real estate assets liquid and easily investing in properties in various markets.


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