The Riz Team Blog

KITCHENER-WATERLOO, ON (May 3, 2019) –– There were 623 residential sales in April through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), an increase of 1.1 per cent versus the same month last year, and up 2.2 per cent compared to the previous ten-year average for April.

Total residential sales in April included 394 detached (up 15.2 per cent), and 75 condominium apartments (up 1.4 per cent). Sales also included 113 townhouses (down 28.9 per cent) and 41 semi-detached homes (no change).

“While sales of detached homes did jump a fair bit compared to the same month last year, they were actually on par with the previous 10-year average for April,” says Brian Santos, KWAR President. “

The average sale price of all residential properties sold in April increased by 10.9 per cent to $529,800 compared to April 2018. Detached homes sold for an average price of $611,803 an increase of 7.6 per cent compared to April of last year. During this same period, the average sale price for an apartment style condominium was $339,426 for an increase of 14.3 per cent. Townhomes and semis sold for an average of $405,013 (up 5.3 per cent) and $433,949 (up 7.7 per cent) respectively.

Average sale prices hit an all-time high in April notes Santos. “These are the highest sale prices we’ve ever posted in a single month. It’s only the third time the overall residential sale price has exceeded half a million, and for the first time, the average price of a detached home climbed over the 600-thousand-dollar mark.

Likewise, median prices reached an all-time high in April. The median price of all residential properties sold last month increased 11.4 per cent to $490,000, and the median price of a detached home during the same period increased by 11.1 per cent to $568,500

REALTORS® listed 913 residential properties in K-W and area last month, a decrease of 6.9 per cent compared to April of 2018, and a decrease of 1.6% in comparison to the previous ten-year average for the month of April. The total number of homes available for sale in active status at the end of April totalled 884, a decrease of 6.1 per cent compared to April of last year, but still well below the previous ten-year average of 1,485 listings for April. Months Supply of Homes for sale stood at 1.8 month in April a decrease of 5.3 per cent compared to last year.

“It’s still very much a seller’s market for anyone who is looking for a home under six hundred thousand,” says Santos. “In these challenging market conditions, consumers should seek the expert advice of a local REALTOR®. There is no single Ontario real estate market, and even within the local market there can be significant differences between property types and neighbourhoods.”

Number of Home Sales Slide in March

KITCHENER-WATERLOO, ON (April 3, 2019) –– There were 511 residential sales in March through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), a decrease of 5.7 per cent versus the same month last year, and down 7 per cent compared to the previous ten-year average for March.

“The activity on detached homes continues to be strong,” says Brian Santos, KWAR President. “But the average number of sales in March was brought down by fewer semi-detached, townhomes and condos. I think this can be credited to the lack of inventory and options buyers have in those segments of the market.”

Total residential sales in March included 325 detached (up 3.2 per cent), and 45 condominium apartments (down 11.8 per cent). Sales also included 116 townhouses (down 14.7 per cent) and 25 semi-detached homes (down 37.5 per cent).

The average sale price of all residential properties sold in March increased 3.4 per cent to $505,855 compared to March 2018.  Detached homes sold for an average price of $585,668 an increase of 0.8 per cent compared to March of last year. During this same period, the average sale price for an apartment style condominium was $320,857 for an increase of 7.5 per cent. Townhomes and semis sold for an average of $372,003 (down 1 per cent) and $422,360 (up 6.4 per cent) respectively.

The median price of all residential properties sold last month increased 3.9 per cent to $474,900, and the median price of a detached home during the same period decreased by 0.8 per cent to $540,400

“Sale prices across Kitchener-Waterloo and area experienced increases in March,” says Santos. “While pundits are focussing on affordability challenges, this also reflects the greater attribute of livability and how Waterloo Region offers a great quality of life.”

REALTORS® listed 797 residential properties in K-W and area last month, a decrease of 4.8 per cent compared to March of 2018, and a decrease of 4.5% in comparison to the previous ten-year average for the month of March. On the other hand, the total number of homes available for sale in active status at the end of March totalled 819, an increase of 5.4 per cent compared to March of last year, but still well below the previous ten-year average of 1,371 listings for March.

Santos contends restrictions brought on by the B-20 mortgage stress test have pushed buyers into lower price points. “It’s difficult for buyers who are trying to find a house under the $500,000 mark – because demand is strongest in that range.”

🎉🖍Enter Our Kids Colouring Contest to WIN a SKY ZONE PARTY FOR 10!!! 🖍🎉

🍫Easter is one of our favourite holidays because a) chocolate and b) it signals the beginning of spring! To help celebrate, we thought we’d get the kids involved with a colouring contest. Let your kids get creative with their crayons, and they could win a “Sky Zone Party for 10 guests” at Sky Zone Kitchener (150 Gateway Park Dr, Kitchener, ON N2P 2J4)!

🏅To Participate🏅
✔ Print Coloring Page Here: https://goo.gl/7LtmCj
✔ Fill in Name and Age of Artist
✔ Color it in!
✔ Take photo of finished page
✔ Post on Facebook or Instagram & Tag —> The Riz Team

(NewsUSA) – More than ever, homeowners are appreciating the added value – aesthetic and monetary – that hardwood floors bring to a home.”They also offer what can be an overwhelming variety of possibilities and choices,” says Linda Jovanovich of the American Hardwood Information Center, www.hardwoodinfo.com. “Here’s a look at five top flooring trends that will help if you can’t see the wood for the trees.” Made in America “There’s a growing demand for American-produced hardwoods,” says Michael Martin, President and CEO of the National Wood Flooring Association.”It’s part of the general trend toward locally-sourced materials of all kinds in the U.S.”Consumer concerns about sustainability, quality, safety, and environmental factors are more easily addressed when a hardwood is domestically grown and milled. Plus, the U.S. offers an unrivaled range of readily available species suitable for flooring. Stains and Finishes Gray is a classic “neutral” that’s never truly out of fashion. It’s currently one of the most popular colors, ranging from pale smoke to deep charcoal, showing up on hardwood flooring.”Whether light or dark, gray stains bring out any wood’s natural grain and texture,” says New York interior designer Laura Bohn. “Grays are versatile and timeless – quiet and soothing colors that recede into the background without losing personality or becoming faceless. They work in any style décor, yet always look modern.” SpeciesFor several years, the trend was toward characterful woods like hickory, but recently, white oak has moved to the front. Along with abundance, durability, and reasonable cost, white oak offers aesthetic advantages.”It can be stained light, dark, or somewhere in between,” says interior designer Emily Morrow Finkell, CEO of Emily Morrow Home. “Many of the popular gray-brown shades look especially sophisticated applied to white oak. Consumers see and love it in magazines and websites, making it a perfect ‘attainable home upgrade.’” The Wider, The Better “It’s all about wide, wider, widest!” says NWFA’s Michael Martin. “Planks of up to 7 inches in width are considered normal now. Traditional strip flooring still remains popular, but wide-plank is the market leader.”As Melissa Morgan of M Interiors in San Antonio says, “Wider floorboards can make a space look larger and more modern. The floor can be treated like a canvas: ebonized for a sleek, dark look; light-stained for an urban vibe; distressed for a rustic affect – the possibilities are endless.” Popular Patterns “One way to set your home interior apart is by tapping into the trend for herringbone-and- chevron-pattern hardwood floors, which show up increasingly in decorating magazines,” says Morrow Finkell. But as Michael Martin points out, “Since installing herringbone floors is a time-and labor-intensive process, they’re more common in high-end projects than in the average middle-class home.” Still, if you can afford to splurge, these floors are a gorgeous addition to any room.Visit www.hardwoodinfo.com for more about residential design trends and other applications and products using American hardwoods.

KITCHENER‐WATERLOO, ON (Mar 5, 2019) –– There were 343 residential sales in February through the Multiple Listing System (MLS® System) of the Kitchener‐Waterloo Association of REALTORS® (KWAR), a decrease of 8.3 per cent compared to February 2018. “The series of winter storms in February not only kept buyers indoors and off the roads, but also away from open houses and viewings,” says Brian Santos, KWAR President. “This was the lowest amount of sales we’ve seen in February in a long time, but it really isn’t surprising given the wild weather we experienced last month.”

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Refinancing your mortgage is something most homeowners consider at least once throughout the lifespan of their home loan. It allows you to pay off your previous loan by applying for a new one that has better financial advantages. While there are many good reasons to refinance, here are five common ones.

• Scoring a lower interest rate. The number one reason homeowners decide to refinance is to secure a lower interest rate on their mortgage. Not only does this save you money in the long run and decrease your monthly payment, but you can start building equity in your home sooner.
• Using an improved credit score. Even if interest rates have not dropped in the market, if you’ve improved your credit score over the last few years, you may be able to reduce your mortgage rate.
• Shortening the loan’s term. If interest rates are decreasing, there is a chance you may be able to get a shorter loan term with little to no change in your monthly payment, allowing you to pay off your loan sooner.
• Switching from an adjustable rate to a fixed rate. If you chose an adjustable-rate mortgage with great introductory rates when you initially financed your home, that rate may increase significantly over the years. By switching to a fixed rate while interest rates are low, you can protect yourself from future increases.
• Cashing out home equity. If there is a big purchase or payment on the horizon, such as funding a wedding or going back to school, your best option may be to use the equity you’ve built in your home to borrow money at a lower cost.

“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run.

YOU’RE NOT TOO LATE.

For years now, we’ve been hearing that interest rates will be on the rise, and although there have been some small increases, you’re still in a great position to drastically lower your interest rate. The general rule is if your mortgage interest rate is more than one percent above the current market rate, you should consider refinancing.

IT’S NOT TOO TIME CONSUMING.

Don’t brush off refinancing just because it seems like a long and daunting process. An informational call with a lender to see how rates compare will only take a few minutes. There are also some programs for streamlining the application process. And besides, isn’t the amount of money you could save worth the time and effort?

ARMS CAN BE REFINANCED, TOO.

Seeing your Adjustable Rate Mortgage (ARM) increase after the introductory period can be incredibly stressful and place a squeeze on your budget. Many people assume they’re stuck, but ARMs can be refinanced, just like fixed-rate mortgages. You can even switch to a shorter term fixed-rate mortgage, such as 15 or 23 years. The longer you’re planning to stay in the home, the more sense it makes to look into refinancing.

You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.

But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.

THE DOWNSIDE

The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance for years, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20-percent down payment, which will eliminate some homes from your search.

THE UPSIDE

The national average for home appreciation is about five percent. The appreciation is independent from your home payment, so whether you put down 20 percent or three percent, the increase in equity is the same. If you’re looking at your home as an investment, putting down a smaller amount can lead to a higher return on investment, while also leaving more of your savings free for home repairs, upgrades, or other investment opportunities.

THE HAPPY MEDIUM

Of course, your home payment options aren’t binary. Most borrowers can find some common ground between the security of a traditional 20 percent and an investment-focused, small down payment. Your trusted real estate professional can provide some answers as you explore your financing options.

You’ve got more options than ever when mattress shopping these days with no shortage of brick-and-mortar and online-only retailers to choose from. Here are the factors you should consider when you’re shopping for a perfect night’s sleep.

1. Mattress construction: The most popular mattress types are inner spring mattresses, memory foam mattresses, and adjustable air mattresses. Each has pros and cons when it comes to durability and comfort customization.
2. Firmness: Mattress firmness plays a huge role in the quality of your sleep. Mattresses that are too firm or too soft can cause aches and pains, so it‘s recommended that you test a mattress for 10- to 15 minutes in store before making a purchase.
3. Sleeping position: Your mattress should match your sleeping style (side, back, face-down, etc.). You want a mattress that keeps your spine in proper alignment. For example, some mattresses are better for side sleepers, while others are better for back sleepers.
4. Size: It’s not quite as simple as choosing between a king and a queen mattress. You should also consider your height, as some mattresses are a better fit for shorter people while tall people will want a longer mattress so their limbs aren’t hanging over the edge of the bed.
5. Stability: For couples, you should consider how the mattress reacts when one person moves, so the other person’s sleep isn’t disturbed in the middle of the night.

KITCHENER-WATERLOO, ON (Feb 4, 2019) –– There were 307 residential sales in January through the Multiple Listing
System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), an increase of 14.6 per cent
compared to January 2018.
“January was surprisingly busy with an above average number of home sales,” says Brian Santos, KWAR President.
“The number of units sold last month were up nearly fifteen per cent compared to the previous ten-year average for
January.”

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