Faces Magazine Article for May 2012 which discuses the difference between buying a house and a condo. Also features a new listing inside SoHo Parkway.
Ottawa's Favourite Real Estate Agent Award!
Matt Richling just won the award for Ottawa's Favourite Real Estate Agent, voted by the Ottawa service industry.
Selling Real Estate in Ottawa Has Changed Video
I recently had a video made to help illustrate the changes in the Ottawa real estate industry in regards to selling your home. More than ever is it important to choose an agent with an online presence in social media, and one that adapts to the constantly changing market.
Ottawa Magazine lead cover article quotes Matt Richling about Ottawa Condo Boom
In the September issue of Ottawa Magazine, I was quoted alongside Shawn Malhotra (Claridge Homes), David Choo (Ashcroft), Eric Darwin (Spacing Ottawa,West Side Action), Peggy Ducharme (Downtown Rideau BIA) about the status of the current “Condo Boom” going on in Ottawa.
Stay tuned and I will post the article.
Featured on the Front Page of the Ottawa Homes Section of the Ottawa Citizen
Recently I was featured on the front page of the Ottawa Citizen for a recent sale of mine at The East Market Condos Phase 2 (383 Cumberland).
What They Got In The Byward Market
Location: 383 Cumberland St.
Features: One-bedroom, one-bath condo with parking spot in the East Market Loft building. Views of the Peace Tower, hardwood floors and floor-to-ceiling windows.
Asking price: $289,900
Selling price: $289,900
Days on market: Five
Word from the sales representative: ‘With this unit being one of the more popular in the building because of the size/layout, and the condo real estate market still very hot, we needed to act fast,’ says Matt Richling of RE /MAX Metro-City. ‘The location is great and, with the stunning views, my client fell in love.’
What’s good about the ‘hood: Walk everywhere downtown.
© Copyright (c) The Ottawa Citizen
Featured in Faces Magainze
Pick up the October copy of Faces Magazine which has a nice little full page feature about me and some of my experiences with selling condos in Ottawa. You can read it below…
Matt Richling
RE/MAX Metro City Realty LTD.
Who is Matt Richling?
I am a 25 year old, Toronto born, Ottawa raised real estate agent with over four years successfully selling local Ottawa condos and homes.
How are you different from any other agent?
Getting into the business at such a young age, gave me the chance to really question the methods used by other agents. You won’t see me advertise in the local newspaper, or have my face on a bus bench or trash bin. I am heavily involved in technology and social media; one of the first Ottawa agents to blog and first on twitter. Earlier this year, RE/MAX recognized me on an international level as a leader in internet marketing.
Tell us the best part about your job?
I get to work and meet with amazing people and sell some of Ottawa’s hottest condos and homes. It brings me into penthouses with amazing views overlooking the city which most people don’t get the chance to see. The job is also fairly flexible, which allows me to live a somewhat normal life even with the long hours.
Any downsides to the job?
I am always working, talking, and breathing Ottawa real estate. For me it’s a passion, but for those around me it can get a little much.
What do you get up to when you’re not working?
I’m fairly active, usually in the pool or running along the canal. I am always shopping for furniture or clothes; I find it really hard to walk past Phillip Van Leeuwen without walking in and taking a peak.
Describe your condo.
It is a modern two bedroom corner loft, with concrete ceilings and floor to ceiling windows. Currently under construction, it is getting a full face lift, and will be on the market in early spring. I use the second bedroom as my office, and keep it in pretty good shape since I have clients over quite often.
We heard you bought it without seeing it? Explain.
Haha yes, there were no pictures either and the offer had no conditions (typically you have financing and status certificate). My lawyer yelled at me for doing that, it was a big risk, but it paid off huge.
What is the craziest thing you have seen when showing a home?
I was with a client and we were running about 5 min early to a showing. I got the key and opened the door, which opened directly to the kitchen. The owners turned out to be running late and were fully buck naked on the kitchen counter – going at it. They screamed, jumped, and accidentally sent a glass of red wine flying across the room right at my client. It was pretty awkward for everybody! It still makes me laugh.
What is the first thing people should do if interested in buying?
Call, email, or Facebook me! It’s a pretty daunting task for a first time buyer, especially your first purchase. My services are free to help you buy, so I can help teach you the process and be with you throughout the purchase. As of today there are 914 condos for sale in Ottawa, it’s my job to find you that ONE perfect home and ensure you will be excited every day when you step inside. Homes are not just a place to live, they are also a great investment, so helping you understand a bad purchase from a good one can save you thousands when you go to sell.
Tell us something about yourself that most people don’t know.
I play underwater hockey, it’s more fun and demanding than doing straight laps.
If you weren’t selling real estate, what would you be doing?
Touring Italy in a Porsche.
Matt Richling Recieves the 2011 Good Neighbour award from the Ottawa Senators Hockey Team
At the last Ottawa Sens Vs. Toronto Maple Leaf game Matt was brought down during a commercial break and awarded the 2010 Ottawa Senators Good Neighbour Award. Over the past year Matt has been involved with countless volunteer initiatives including the Ottawa Foodie Challenge, The Ottawa Condo Clothing Drive, United Way, The OCRI School Breakfast program, etc. “There are so many other people that deserve recognition for the volunteer work that they do for the less fortunate. Growing up in a small town has allowed me to experience and appreciate the goodness of a neighbour providing a helping hand. Upon moving downtown I have taken theses values with me and feel the importance of giving back to the community.” says Matt.
Quoted in the Ottawa Citizen “Condo Market Soaring” Front Page Ottawa Busines Section
I was quoted in an article in Tuesdays Ottawa Citizen, that managed to make front page of the business section. Talking about how condos are becoming uber hot in Ottawa. Now with 1 in every 4 homes sold being a condo, Isnt it about time to find someone who focuses on downtown condos to help you sell?
Condo market soaring: report
Prices a hit with younger buyers
By Derek Abma, with files from Hugh Paterson, Citizen, Postmedia News November 2, 2010
Condominiums are a hot sector of the Canadian real estate market, particularly for first-time homebuyers spooked by high prices, says a report released Monday.
Re/Max says affordability, lifestyle, investment opportunities and urban renewal efforts are among the reasons condo sales have spiked over the last year in some Canadian markets.
“As one of few affordable housing options available to first-time buyers, the concept is poised for dramatic growth in years to come,” said Michael Polzler, executive vice-president for Re/Max’s Ontario-Atlantic Canada operations.
Re/Max said condo sales in Ottawa are up 11.9 per cent to 2,799 units year-to-date, as of September, and now represent one out of every four homes sold. The average price for Ottawa condos has risen 12.9 per cent to $252,641 in the last year, still more than $100,000 cheaper than the average price of $366,587 for a single-family home, which increased in value 8.2 per cent.
The greatest activity continues to be in condo sales in the $200,000 range in Ottawa, Barrie and London, but condo sales at prices in excess of $450,000 in Ottawa have jumped 72 per cent compared with last year. Condo sales in the greater Toronto area were up 10.4 per cent year to date, representing one of every three home purchases.
“The lifestyle has also gained a foothold with younger, hipper audiences as the definition of home ownership evolves with the changing demographic,” Polzler said. “Dreams of the small home with a white picket fence are being replaced by the funky loft apartment in proximity to shops, restaurants and entertainment.”
In Ottawa, “condo sales have come of age,” said Geoff McGowan, broker of record at Re/Max Affiliates Realty Ltd. in Ottawa.
“For the longest time we didn’t have the uptake on condos, unusual for a city this size. But things have changed now.
“Ottawa is the blue-chip stock of North American real estate. It’s the most affordable of any major city,” said McGowan.
He added that the stable employment of the public sector helps to guard against downturns.
He cautioned, however, not to expect condo price or sales increases forever.
“I see the market returning to sanity.”
While the Re/Max report focused specifically on Ontario and Eastern Canada, Gregory Klump, chief economist for the Canadian Real Estate Association, said condo sales are becoming a bigger share of more expensive housing markets across the country, such as Toronto and Vancouver.
“(Condos) have been accounting for a greater percentage over time of all sales activity,” Klump said. “Condo units are an affordable alternative to single-detached home ownership.”
The Re/Max report said other factors driving the surging condo market include urban redevelopment that favours intensification over urban sprawl, empty nesters seeking low-maintenance retirement properties and investors hoping to sell when prices appreciate, the report said.
Re/Max said the “vast majority” of newly built condominiums in Toronto are purchased by long-term investors from Asia and the Middle East, who will often rent them out until they find their desired sales price.
The same is happening in Ottawa, but from investors closer to home.
“We’re seeing a huge surge in condos being bought for investment purposes,” said Matt Richling, of Re/Max Metro City in Ottawa.
“A lot of the investors are from Toronto.”
© Copyright (c) The Ottawa Citizen
