The Riz Team Blog

… For Buyers and Your Neighbours

The summer months are the perfect time to freshen up the exterior of your home. Whether it’s for your pleasure or to impress potential buyers, you’ll boost your home’s curb appeal with these good old-fashioned cleaning tips:

– Edge the gardens, clean out debris
– Pull the weeds and rake the leaves
– Prune the plants and wooly shrubs
– Plant some urns by the entrance and flowers to the beds
– Tidy the garage of winter trappings
– Dispose of rusty broken garden décor
– Put out a fresh welcome mat and oil the front door
– Paint the windowsills, mailbox, and anything else that is looking tired
– Place clear light bulbs in exterior fixtures, and ensure burned out bulbs are replaced
– Reseal the driveway
– Hide the garbage cans
– Sweep the step
– Fix the saggy gutters

Who says cleaning has to hurt? Get the kids involved! Borrow or buy a power washer and have fun cleaning siding, windows, sills, railings, decking and patio furniture.

By Kitchener-Waterloo Association of REALTORS® (KWAR) admin    •March 6th, 2013

KITCHENER-WATERLOO, ON (March 6, 2013) ––  Residential sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down 10.5 percent compared to this month last year while the year-to-date dollar volume of sales was 8 percent above the 5-year average.

A total of 445 residential properties sold last month, a 31.3 percent increase compared to January 2013. February’s residential sales included 297 detached homes (down 9.7 percent compared to February 2012) 81 condos (down 12.9 percent), 36 semis (up 5.9 percent), and 29 freehold townhouses (down 25.6 percent).

“Sales in February showed a healthy increase over January,” says Dietmar Sommerfeld, President of the KWAR. “The reduction in the number of sales on a year over year basis can be attributed to the tightened mortgage rules implemented by the government in mid-2012.”

The average sale price of all homes sold in February increased 5.4 percent to $324,998 from the same time last year. Single detached homes sold for an average price of $368,573, an increase of 5 percent compared to February 2012. Average sale prices for condos rose to $218,591, an 8.8 percent increase from last year and townhomes followed closely with an 8.3 percent bump putting the average selling price at $283,513.

“With continued low mortgage rates we expect a healthy spring market,” says Sommerfeld. “It remains an incredibly good time to buy or sell in our market.”

The KWAR cautions 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 based on the total dollar volume of all residential 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.

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By Kitchener-Waterloo Association of REALTORS® (KWAR) admin    •February 6th, 2013

KITCHENER-WATERLOO, ON (February 5, 2013) –– Residential sales through the Multiple Listing Service (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down slightly in January compared to the same month last year.

There were a total of 337 residential properties sold last month, a 2.3 percent decrease compared to the same month last year, and a 23.9 percent increase from December 2012.

“January’s sales were in line with the 10-year average for our area,” Dietmar Sommerfeld, President of the KWAR points out.

January’s residential sales included 237 detached homes (up 6.8 percent compared to January 2012) 49 condos (down 34.7 percent), 24 semis (up 14.3 percent), and 26 freehold townhouses (up 4 percent).

Residential sales between $250 and $349,999 were strong showing a 32 percent (157 vs. 119 units) increase compared to January last year.

The average sale price of all homes sold in January increased half a percent to $319,283 from the same time last year. Single detached homes sold for an average price of $354,540, a decrease of 2.6 percent compared to January 2012. In the condominium market the average sale price in January was $212,408, a 4.7 percent decrease compared to the same month a year ago.

The KWAR cautions 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 based on the total dollar volume of all residential 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.

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By Kitchener-Waterloo Association of REALTORS® (KWAR) admin   •January 4th, 2013

KITCHENER-WATERLOO, ON (January 4, 2013) ––   There were a total of 6,212 residential sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in 2012, a slight decline of 0.7 percent compared to 2011’s year-end results.

Coming off two consecutive months of strong housing activity in October and November, fourth quarter home sales were practically on par with last year’s results. A total of 1,268 homes sold through the last 3 months of 2012, 6 transactions more than the same period in 2011.

Dollar volume of all residential real estate sold last year increased 2.6 percent to $ 1,931,345,147 compared with 2011, reflecting the steady price gains realized in 2012.

The average sale price of all homes sold in 2012 increased 3.3 percent to $311,006. Single detached homes sold for an average price of $353,888 in 2012, an increase of 3.2 percent. In the condominium market the average sale price in 2012 was $213,520, a 4 percent increase compared to the previous year.

“Residential sales activity remained fairly steady throughout 2012,” says Dietmar Sommerfeld, president of the KWAR. “In July the government put in place tighter mortgage lending rules, which is perhaps partly responsible for the slight easing of demand we saw, but overall the Kitchener-Waterloo housing market continues to show its stability.”

Home sales in 2012 included 4,070 detached homes (down 1.2 percent from 2011), 1,200 condos (down 0.1 percent) 486 semis (down 2.4 percent), and 400 townhouses (up 7.8 percent).

Sommerfeld says that Waterloo region benefits from a very diverse and dynamic economy that will continue to support a healthy housing market and consumer appetite for home ownership in 2012.

The KWAR cautions 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 based on the total dollar volume of all residential 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.

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By Kitchener-Waterloo Association of REALTORS® (KWAR) admin • November 5th, 2012

KITCHENER-WATERLOO, ON (October 5, 2012) –– Area home sales rebounded in October, with 500 homes trading through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR). Residential sales in October are up 11.6 percent compared to last month’s results, and increased 4.6 percent from October 2011.

October’s residential sales included 322 detached homes (up 1.6 percent), 48 semi-detached (up 54.8), 33 townhouses (up 32 percent), and 92 condominium units (down 7.1 percent).

The average sales price of all residential sales in October was $302,656 a 1.5 percent decrease from the average sale price recorded in October 2011. Single detached properties sold for an average price of $339,592, a 3.8 percent decrease relative to one year ago.

Average prices for townhouses and condominium property types both increased last month, with townhouses gaining 10.7 percent to $287,133, and condominium units increasing 7 percent to $215,831 compared to the same month last year.

“The overall average residential price decreased slightly last month, which is not a surprise,” says Sara Hill, President of the KWAR, “In the past two months the average sale price was showing fairly strong gains even as sales were slowing, so I see this as a slight correction.”

On a year-to-date basis, residential home sales are practically on par with 2011 – with a total of 5,443 sales recorded. The average price of all residential properties sold year-to date is $310,739, an increase of 3.2 percent over 2011.

“The Kitchener-Waterloo housing market continues to show both long-term strength and stability” says Hill. “Shifts in average prices are normal, and home buyers and sellers should work with their REALTOR® to understand the market and set their expectations accordingly.”

Hill reminds consumers to use caution when looking at averages. The average sale price is based on the total dollar volume of all residential properties sold. 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.

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