KITCHENER-WATERLOO, ON (January 5, 2017) ––There were a total of 6,655 residential sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in 2016. That’s a thousand more units than sold in 2015, amounting to an increase of 18.1 percent and setting a new record for total annual sales.

Dollar volume of all residential real estate sold last year increased 30.9 percent to $2,578,176,468 compared with 2015.

“2016 was marked by unrelenting demand for homes, in the face of fewer homes being put on the market,” said James Craig, President of the KWAR. There were 8,003 residential listings processed through the KWAR’s MLS® System in 2016, a decrease of 9.7 percent compared to 2015.

“For the past several months we’ve seen the number of months of inventory ranging between a ten-year low of 1 and 2 months,” says Craig. “While this puts sellers in a very strong position, it’s not so easy when those same sellers need to downsize or move-up.”

The average sales price of all residential properties sold in 2016 increased 10.8 percent to $387,404 in comparison to 2015. Detached homes sold for an average price of $451,738 an increase of 12.5 percent, while the average sale price for an apartment style condominium was $229,676, an increase of 3.6 percent. Townhomes and semis sold for an average of $287,396 (up 9.9 percent) and $300,806 (up 11.8 percent) respectively.

Home sales in 2016 included 4,203 detached homes (up 16.3 percent from 2015) and 1,511 condominium type units (up 28.1 percent) which include any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 430 semi-detached homes (up 6.2 percent) and 430 freehold townhouses (up 7.2 percent).

Craig says that he expects demand for home purchasing in 2017 will continue to be strong. “There is no smoking gun to explain the current market. Mortgage rates remain low, inducing more consumers to get into the market. We have an extremely attractive community, with a growing population and diverse economy bringing in new residents to the region. Home prices remain affordable when compared to the average GTA prices.” Adding, “The challenge is inventory levels remain low, as homeowners are staying in their homes longer and some who might have otherwise moved up are choosing to avoid the hot market. What I hope to see is more balance returning to the market, because I sure don’t see the appetite for home ownership in Waterloo region letting up anytime soon.”

The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a local REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.

KITCHENER-WATERLOO, ON (December 2, 2016) ––Home sales through the Multiple Listing System (MLS^® System) of the Kitchener-Waterloo Association of REALTORS^® (KWAR),  totalled 535 last month, an increase of 27.1 percent compared to November of 2015, marking another record breaking month for residential properties sold in Kitchener-Waterloo and area.

November’s sales included 352 single detached homes (up 34.4 percent compared to November 2015) and 118 condominium type units (down 22.9%) which include any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 32 semi-detached homes (up 45.5 percent) and 28 freehold townhouses (down 20 percent).

Record breaking sales are also being tallied on a year-to-date basis with 6,352 residential transactions compared to 5,341 during the same period in 2015, representing an increase of 18.9 percent.  “Year-to-Date Sales to the end of November have now exceeded any previous end-of-year totals on record,” says James Craig, president of the KWAR. He points out that in 2007, sales to the end of the year exceeded 6,000 units for the first time, and haven’t hit that high-water mark again, until now, an entire month earlier.

Inventory levels on the other hand, remain stubbornly low. In their October release, the Canadian Real Estate Association stated that, “the tight balance between housing supply and demand in Ontario’s Greater Golden Horseshoe region is without precedent (including the GTA, Hamilton-Burlington, Oakville-Milton, Guelph, Kitchener-Waterloo, Cambridge, Brantford, the Niagara Region, Barrie and nearby cottage country).”

As of the end of November, the KWAR’ MLS® System only had 565 active residential listings on the market, down 23.1 percent compared to the previous month, and 60.8 percent below the same period last year.

The average price of all residential properties sold in November was $411,602 a 15.5 percent increase over 2015. Detached homes sold for an average price of $473,104, an increase of 13.9 percent compared to November 2015.  During this same period, the average sale price for an apartment style condominium was $209,360, a decrease of 8 percent. Townhomes and semis sold for an average of $310,151 (up 14.8 percent) and $330,534 (up 27.7 percent) respectively.

“With a notable shortage of inventory, many properties are selling above list price,” said Craig. “This is because you have many buyers competing for fewer properties, and this is pushing up the average price.”

The median price of all residential properties sold in November increased 18 percent to $377,500, and the median price of a detached home during the same period increased 16.4 percent to $425,000.

2016 Was The Most Active February We’ve Seen On Record Since 2008

Residential sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were up 28.2% compared to the same month last year with 452 homes being sold in the month of February, 18.6% above the 5-year average for the month.

Residential sales (KW & Area) in February included 280 single detached homes (up 40.7% from last February), 33 semi-detached (down 17.5%), 31 townhomes (up 6.9%) and 103 condominium units (up 25.6%).

“This was the most active February we’ve seen on record since 2008, when 464 residential homes were sold,” stated Charlotte Zawada, President of the KWAR. “With interest rates holding steady and Waterloo Region remaining an attractive place to live and invest, I think we will continue to see buoyancy in our local housing market.”

Single detached homes sold for an average price of $419,480 an increase of 7.7% compared to last year. The average sale price for a condominium was $242,272, an increase of 8.3% while townhomes and semis sold for an average of $328,569 (up 10.0%) and $291,770 (up 12.0%) respectively. The average sale price of all residential sales through the KWAR’s MLS® System increased 10.3% to $361,889 compared to February 2015 with 42.0% of home sales in February occurring in the $250,000-$350,000 range.

“This time last year we were experiencing some really frigid temperatures that helped contribute to a 5-year low in home sales for the month. Things have been quite a bit warmer these past few weeks in comparison, and it goes to show how much of a role weather can play when it comes to buying or selling one’s home,” said Zawada.

The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

Consumers uncertain about current market conditions should work with a REALTOR® to develop an effective selling strategy. If you are buying, a REALTOR® will negotiate on your behalf and guide you through every step. A REALTOR® understands the local market and must, by law, look after your best interests.

Screen doors let the breeze in and keep the bugs out. They open your home to the sounds and scents of summer, and help cool your house without wasting energy on air conditioning. Want to let in a little more summer this year? Here’s what you need to know about picking the perfect door.

Screen doors have come a long way from the hard-to-open metal models and flapping wood doors of your childhood. Available in metal, vinyl or wood, many feature smooth hydraulic or pneumatic closers and springs or chain stops that keep them from slamming shut or swinging open. Designed for both practicality and curb appeal, doors are available in a wide variety of colours, styles and finishes. Your choices include:

1. Basic vinyl or aluminum. Durable and affordable, these doors come in a surprising variety of attractive styles; you’ll find everything from traditional designs to art deco-inspired geometrics.
2. Storm/screen door combo. Traditionally, people replace the screen door with a storm door in the winter. A combination door makes the “swap” easier; simply remove or slide the glass down in summer and replace it with a screen.
3. Wood. From rustic doors featuring carved animals to pretty “granny doors,” wood can really add to the look of your home. However, winter cold and damp can be hard on them, so manufacturers suggest that you take them down when it gets cold to prevent warping.
4. Sliding. Inexpensive and easy to maintain, sliding screen doors that go with patio doors make it easy to open up your home to a fresh breeze.
5. Retractable screens. If you don’t like the look of a screen door, these are a great option, and are available at your local home improvement store. Screens pull out from the sides and lock shut with a magnetic catch. Handy homeowners will be able to install them with little effort.
With the right screen door for your home, comfort and curb appeal are a breeze!

Tips for installation
Thinking about installing your screen door yourself? Manufacturers include installation instructions that only require hand tools, but most DIY resources suggest an intermediate level of “handiness.” If that doesn’t sound like you, consider using an experienced carpenter or the store’s installation service.

Condo Cool
You don’t have to live in a house to kick back and enjoy the breeze. Welcome summer into your space by installing a screen door to your balcony. It’s a great way to make your indoor and outdoor spaces feel unified and to make your condo feel more spacious.

Looking for that cottage life?

Do you have a dream of owning a place outside of the city where you can escape, kick back and relax? If so, you’re not alone. As demand continues to increase and average prices continue to rise, now more than ever you will need to be patient, establish a list of ‘musts’ and work with a Realtor who understands the recreational market, if you want your dreams to come true.

To begin your search, target potential areas and consider a road-trip to visit your most coveted spots. Once you find your ideal location, narrow your search by establishing a list of priorities. Do you plan to use your recreational property for seasonal versus year-round use? Do you wish to build a new cottage or buy an existing one? What are your hobbies? Is proximity to hospitals, public transit or schools important? If you are near water, lakes can vary tremendously in terms of allowances for boating, fishing and swimming. In the winter, do you want to use both cross-country and downhill skiing facilities?

With your priorities established, you will also be in a strong position to act fast if you need to. Popular sites are in demand.

Buying a recreational property can be considerably more complex than a standard home purchase and it generally takes longer. There is considerably more time and travel involved. The effort, according to a growing number of Canadians, is more than worth it.

Before you begin your search, give me a call. I can get you started down the right path toward your home away from home. If I cannot assist you directly in your purchase transaction, I can refer you to a quality Royal LePage Realtor in your desired area from our network of over 13,000 real estate professionals from coast to coast.

For the most recent Royal LePage Recreational Property Report, visit www.royallepage.ca and click Press Releases.,Demystifying Mortgages – How Much Can You Borrow?

A home is typically the largest purchase you will make in your lifetime, and for most Canadians this means obtaining a mortgage. The amount of your mortgage will determine the size and location of your new home – not to mention the size of your payments. So how do lending institutions decide how large your mortgage loan can be?

Call RIZ today to purchase your home away from home! 519-716-7253 (direct)

What goes under foot is seldom an easy decision. Colour, surface texture, room usage and price all come into play. Today, greener options abound, adding to the myriad of choices already available.

Increasing interest in incorporating renewable resources into the home has resulted in many beautiful eco-friendly flooring options.

For homeowners looking on the greener side, it’s worth a look at the many sustainable products available today:

• Give a tree another lease on life with salvaged wood flooring. A rustic look can be created with reclaimed wood. Buying reclaimed lumber continues to get easier, and in some instances, less expensive relative to the cost of new hardwoods.
• Bamboo is a good option for rooms with low humidity. High abundance and a natural look make sustainable bamboo an attractive flooring option. Bamboo grows to maturity in three to five years, about a quarter of the time it takes to grow trees used for hardwood.
• Linoleum flooring has retained its popularity over decades. Unlike vinyl flooring, which is a synthetic product made of chlorinated petrochemicals, linoleum is manufactured from natural compounds including linseed oil, cork dust, tree resins and ground limestone. With natural, renewable elements used in its manufacturing, this eco-friendly flooring option continues to remain a popular option.
• Cork flooring has many eco-friendly attributes. Like bamboo, cork is quickly renewable. It is harvested from the bark of the cork oak tree and grows back every three years. Cork has anti-microbial properties to reduce allergens, is fire retardant and provides a comfortable feel under foot. Cork flooring can be finished in a variety of paints and stains to complement any room setting.
• Polyester (P.E.T.) Berber carpet is a sustainable option made of recycled plastic bottles. Anytime we can reuse these materials, we reduce the amount of new materials being manufactured and we reduce non-biodegradable materials in our landfills. Polyester Berber is spill resistant and comes in a variety of aesthetically – pleasing colours and patterns.

Whatever your home’s style or design, an eco-friendly flooring option exists to complement the desired look and existing patterns.

Canada Day Local Events

Canada Day @ Waterloo Region Museum (DOON)

9:30 a.m. to 5:00 p.m. FREE Admission! Waterloo Region Museum is throwing a party to celebrate Canada Day and everyone is invited! Admission is FREE to the museum and Doon Heritage Village for this fun family event including musical entertainment, fun games like croquet and horseshoes. Guests bring your own picnic lunch or purchase a tasty BBQ lunch.

Columbia Lake Events starting at 4:00 P.M

~ featuring Bobs & LoLo and TVOKids host Gisele

~ featuring live performances by The Strumbellas and Kim Mitchell

~including face painting, water slide, inflatable rides and more

~featuring Waterloo Brewing Co. and a diverse range of local food vendors

~Fireworks finale at 10 p.m.

Kitchener City Hall

Come celebrate Canada Day with us in Downtown Kitchener from 4 p.m. – 11 p.m. This exciting celebration will feature live Canadian entertainment, fireworks from the roof top of Kitchener City Hall, a licensed beer garden, downtown vendors to satisfy your hunger, and much more!

Helpful hints in making a small room appear bigger!

Small rooms are the bane of the home decorator. How do you achieve a pleasing look that doesn’t feel cramped and claustrophobic? Short of building an addition or knocking down walls, you are limited to a few, but effective, decorating tricks that create the illusion of space.

The strategic use of colour and light is the best way to achieve this. Choose light shades of paint or wallpaper for the walls. Lighter colours reflect light making for a brighter room. Use an even lighter shade of the same colour or white for ceilings and floors. A darker colour on the ceiling will make the ceiling look lower and tends to make the walls look as though they are closing in.

Avoid harshly contrasting colours. In fact, a monochromatic colour scheme that carries throughout the room into fabrics and accessories is very effective. Steer away from too many patterned items. The goal here is to blur perspective.

Anything you can do to bring light into the room will also give the effect of increased space. A corner wall sconce that casts light up onto the wall works well. Try to vary lighting effects for interest. A skylight is a great way to add light to a room, but isn’t always practical or affordable. Mirrors are a great solution for small rooms. Place mirrors directly across from another for maximum impact. A mirror placed across from a window is also effective. Place a lamp in front of a mirror to add more light to your room.

If you have wood or patterned flooring, have it installed so that the lines run diagonally across the room. This makes for longer lines, which give the appearance of a larger space. When furnishing the room, pick objects that are proportioned to the size of the room. For example, opt for a loveseat over a full-sized sofa. Lastly, keep the clutter to a minimum. Avoid using a lot of knick-knacks and keep the room tidy and well organized.

Are you ready?

When you have decided that the time is right to sell, the first step in preparing for the sale of a home is finding out its worth. Contact me for a comparative market analysis, an informal estimate of value based on the recent selling price of similar neighborhood properties.

Working to ensure your home is in the best condition possible for showing to prospective buyers will position you to receive top dollar. This includes repairing or improving any trouble spots that could deter a buyer, such as squeaky doors, a leaky roof, dirty carpet and walls, and broken windows.

The first impression that potential buyers form of your property as they drive or walk up should not be underestimated. The “curb appeal” of your home is extremely important. You can create a positive first impression by making sure the lawn is pristine – the grass cut, debris removed, garden beds free of weeds, and hedges trimmed.

However, the trick is not to overspend on pre-sale repairs and fix-ups. This is especially important if there are few homes on the market but many buyers competing for them. On the other hand, making such repairs may be the key to selling your home in a down market.

Don’t Put it on HOLD…..Call RIZ to get it SOLD!!!