Contact me for a Free Home Value Report or for more information at www.kimlouie.net
Find relevant information on real estate, from household tips to market conditions and statistics. Contact me for a FREE Home Value Report!
Tuesday, December 27, 2016
The Value of Home Inspections for Buyers AND Sellers
Contact me for a Free Home Value Report or for more information at www.kimlouie.net
The Basics of Multiple Offers on a Home Sale
This brief video describes some of the many considerations from both the buyer and seller perspectives.
For more information, please feel free to contact me at www.kimlouie.net
Choosing a Realtor - What you should be looking for!
Here are some considerations and to see what my past clients think of my level of service, check out this link at: http://realestateagents.servicerating.ca/agent/kim-louie
Considerations When Buying a Condo
This brief video explains them and, if you have any more questions about this or real estate in general, please contact me at www.kimlouie.net
Friday, December 23, 2016
What's open and closed during the Christmas Holiday in Waterloo Region - 2016
With Christmas Eve, Christmas, Boxing Day and a statutory holiday all covering a four-day period, a lot of businesses and services are operating on modified hours or not at all. Here are some of the changes:
- Waterloo Region’s garbage, recycling and organic waste trucks will be running their normal routes on the usual pickup days
- The region’s waste drop-off sites will be closed on Dec. 26 and Dec. 27
- Grand River Transit is operating on a modified schedule from Dec. 19 until Jan. 2
- The Beer Store and LCBO stores close at 6 p.m. on Christmas Eve, and don’t reopen until Dec. 27
- Fairview Park Mall is open from 8 a.m. until 5 p.m. on Christmas Eve, and 8 a.m. to 9:30 p.m. on Boxing Day
- Conestoga Mall is open from 9:30 a.m. until 5 p.m. on Christmas Eve, and 8 a.m. to 7 p.m. on Boxing Day
- Cambridge Centre is open from 9:30 a.m. to 5 p.m. on Christmas Eve, and 9:30 a.m. to 6 p.m. on Boxing Day
- Canada Post will not deliver mail on Dec. 26 or 27
- All branches of the Region of Waterloo Library and Kitchener Public Library will be open until 1 p.m. on Christmas Eve, and then closed until Dec. 28
- Waterloo Public Library branches will close at 1:30 p.m. on Christmas Eve, and reopen on Dec. 28
- Branches of Cambridge’s Idea Exchange will be closed Dec. 24 through Dec. 26, reopening on Dec. 27
- On Christmas Eve, the Kitchener Market will be open from 7 a.m. to 2 p.m., the Cambridge Farmers’ Market from 7 a.m. to 1 p.m., and the St. Jacobs Farmers’ Market from 7 a.m. to 2 p.m.
- More information on municipal closures can be found at the websites for the Region of Waterloo, the City of Kitchener, the City of Waterloo and the City of Cambridge
- For information on holiday hours at your favourite supermarket, pharmacy, bank, retailer or restaurant, check with them directly
Wednesday, December 21, 2016
5 Signs Your Realtor Is a Keeper
What makes a real estate agent good, if not great? Some agents are simply better at their jobs than others, but it can be difficult to spot the difference, at least at first. Here are a few ways to know if the agent you’re working with is a keeper.
Real estate agents seem to be a dime a dozen these days. Some people become a real estate agent as a way to earn money on the side, in addition to their other full-time job. Other people are agents because they have a deep-seated interest in helping people find the right home or in helping people get the best offer when they sell their home. How do you know if the real estate agent you’re considering working with is worth his or her commission? There are a few signs your agent is going to be a great asset to have in your corner when you’re looking for buying or selling a home in Waterloo Region.Your Agent Keeps Appointments
When it comes to buying or selling a home, offers and deals can be made in a matter of hours. A great house can be snapped up pretty quickly. That’s why an agent who makes and keeps appointments, follows up when you’re interested in putting in an offer, and responds to your calls and messages quickly is a great agent to work with. You don’t want to leave a message with your agent when you want to put in an offer on a home only to have him or her finally return your call a day later to tell you the house is off the market.
Your Agent Knows Waterloo Region, or at Least Your Neighbourhood
Waterloo Region is a big place, and the cost of a home in one neighbourhood is going to be vastly different from the cost of a home in another neighbourhood. A great real estate agent is going to know the area you are considering buying in, or the area where you are selling your home, like the back of his or her hand.
It’s important that your agent knows what’s going on in your area so that he or she can give you an idea of what to list your home for, based on what similar houses have gone for recently, and an idea of whether the house you’re considering buying is priced right or too high or too low in comparison to others. You also want to make sure your agent typically works with the type of property you’re buying or selling. It doesn’t make much sense to work with a commercial agent if you’re buying or selling residential property.
Your Agent Has the Right Credentials
Great agents aren’t necessarily born, they are made. Ask your agent about his or her education and credentials and whether he or she is part of a regional or national agents’ association. You can also check out the Real Estate Council of Ontario website.
Your Agent Comes with Glowing Recommendations
The right credentials are just part of making sure an agent is qualified. An agent worth sticking with will also have a number of past clients who are ready and willing to sing his or her praises.
Your Agent Buys and Sells Houses on a Full-Time Basis
A full-time real estate agent has decided to dedicate his or her career to the buying and selling of property. Not only does this suggest that he or she will be more readily available to you. It also suggests that he or she is going to be more likely to know what’s going on in the real estate scene in your particular neighborhood.
It’s worth it to take your time finding the right agent to work with. Like any relationship, you don’t want to rush into things and find yourself wishing you had pursued other options.
Contact me today for a Free Home Value Report by going to www.kimlouie.net!
Sunday, December 11, 2016
Home Buyer Programs and Incentives in Kitchener - Waterloo
Probably one of the biggest obstacles to home ownership for most first-time buyers is coming up with the necessary downpayment.Which is why many of the programs to assist them are geared toward assisting with the downpayment or initial costs.
Here are 4 of the most popular programs available:
Federal First-Time Home Buyers' Tax Credit:
http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html
Ontario Land Transfer Tax Credit for First-Time Home Buyers:
http://www.fin.gov.on.ca/en/refund/newhome/index.html
The Home Buyer's Plan:
http://www.cra-arc.gc.ca/hbp/
Waterloo Region Home Ownership Plan:
http://communityservices.regionofwaterloo.ca/en/housing/affordablehomeownership.asp
Contact me today to find out more about these programs or regarding any Real Estate Questions you might have! Go to www.kimlouie.net
Friday, December 2, 2016
Home Sales UP 27%, total listings available DOWN 23% = Seller's Market in Waterloo Region!
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.
For more information or to find out what your home is worth, check out www.kimlouie.net!
Get Smart About Move-In Ready Homes - "Smart Homes" in Demand
Latest survey finds buyers are thinking differently about move-in ready properties – they want homes that have smart tech already included.
Who says you can’t teach an old home new tricks? Today, Coldwell Banker unveiled the results of a survey it conducted with Parks Associates, which found that 44 percent of people who want a move-in ready home said smart home technology should already be installed. Another 57 percent would consider an older home “updated” if it had smart home technology.
Our agents agree – smart home tech is permeating the market and becoming more mainstream. Angel Piontek, a sales associate with Coldwell Banker Elite in Fredericksburg, VA and smart home guru, has noted that clients are seeking a smarter kind of home. “Most recently I’ve seen that the term move-in ready is evolving still to include the convenience and comfort that smart home technology provides,” she said.
Smart homes are getting popular among just about every age group. If given a choice between two homes where one was smart and the other was not, more than half of survey respondents would opt for the smart home. And it’s not just Millennials who want a smart home (although 61 percent would choose the smart home). 52 percent of Gen Xers and 50 percent of boomers also agreed.
Not in the market for a new home? You can still outfit your house to include some of the hottest smart home gizmos and gadgets. Check out some tips on getting started from our Coldwell Banker agents, and learn more about the tech making waves this summer.
Contact me today for a Free Home Value Report by going to www.kimlouie.net
Thursday, November 24, 2016
5 Tips to Make Your Home "Sellable!"
It’s up to you to make your home as “sellable” as possible by making it attractive. Here are some tips on saleability factors that you control that will help ensure that your home is sold at the right price.1. The condition of the property
Your home needs to be in great condition in order to secure the best sale price. Ensuring the home is well-maintained is crucial.Make sure that there is no clutter in the home and that everything is well-serviced and neat. Presenting a house that is well taken care of and requires little maintenance, will really appeal to home buyers.
2. Terms
Don’t make your home difficult for people to purchase. Why not offer an incentive or provide them with a home inspection report? By doing so you will be reaching out to a wider market and decrease the time between the initial offer and the final sale..3. Availability
If you want to increase your chances of selling your home then you need to work out a schedule that will fit around the home buyer’s needs. You want to make sure that you are flexible.Another saleability factor that you should consider is preparation. Showing potential buyers that you are prepared to move out quickly will greatly appeal to them.
4. Upgrades and extras
This has to be one of the more important aspects of saleability. This could mean anything from renovating the kitchen, installing a new heating system, upgrading to the windows, to something as small as a coat of paint. Some renovations will appeal to home buyers, however don’t fall into the trap of thinking that all renovations will add value in buyers’ eyes. Many renovations that involve decor are subjective to taste, and therefore keeping renovations neutral and practical can greatly increase your home’s appeal.5. Price
By ensuring you have set the right price for your home, there is a far greater chance that you will sell your property in a timely manner. It is best to work with your Realtor and seriously consider realistic comparables to arrive at the correct asking price.A Comparative Market Analysis works well, as does comparing recently sold homes in your area and recently listed homes. It is crucial to know about the sales market so you can work out a suitable and realistic price for your home.
If you’re getting ready to sell your home and want to know how you can maximize your value, contact me today for a Free Home Value Report.
Wednesday, November 9, 2016
Quotes from Winnie the Pooh to Get You Through Your Day
While this blog isn't Real Estate Related, I came across these quotes and couldn't believe I had forgotten the wisdom of this little bear and his friends! I just wanted to share!
Perhaps I was too young to truly understand the meaning and truth of these words, but as an adult, their power is undeniable....ENJOY!
Thursday, November 3, 2016
STRONG DEMAND CONTINUES TO FUEL WATERLOO REGION HOUSING MARKET IN OCTOBER
Last month a total of 577 residential properties sold in Kitchener-Waterloo and area though the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), an increase of 24.4 percent compared to October of 2015, and an all-time high for the month.October’s sales included 359 single detached homes (up 18.9% compared to October 2015) and 130 condominium type units (up 28.7%) which include any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 41 semi-detached homes (down 105 percent) and 39 freehold townhouses (up 2.6 percent).
Record breaking sales are also being tallied on a year-to-date basis with 5,818 residential transactions compared to 4,920 during the same period in 2015, representing an increase of 18.3 percent. Conversely, inventory levels are low with only 729 active residential listings on the market to the end of October, a decline of 11 percent compared to the previous month, and 53.9 percent below the same period last year.
The average price of all residential properties sold in October was $408,067 a 12.7 percent increase over 2015. Detached homes sold for an average price of $478,685, an increase of 14.3 percent compared to October 2015. During this same period, the average sale price for an apartment style condominium was $225,221, an increase of 5.6 percent. Townhomes and semis sold for an average of $307,294 (up 17.6 percent) and $329,966 (up 23.9 percent) respectively.
Noting an increase in multiple offer situations, and homes selling for above asking price, Charlotte Zawada, president of the KWAR says: “A strong appetite for homeownership in Waterloo region combined with slimmer inventory levels means it’s still a sellers’ market.”
The average price was also pulled upward by an increase in homes selling for a half-million dollars and above in October, compared to the same month last year. The number of sales occurring at or above $500,000 doubled in October compared to the same month last year; and made up a total of 23 percent of all home sales, compared to just 14 percent in 2015.
The median price of all residential properties sold in October increased 17.2 percent to $375,000, and the median price of a detached home during the same period increased 16.8 percent to $438,000.
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New measures by the federal government which introduced a mortgage rate “stress test” on all new insured mortgages took effect on October 17, 2016. While the overall impact of these changes is yet to be fully understood, President Zawada says “It is likely that some first-time homebuyers rushed to purchase prior to the stress test coming into effect.”
Tuesday, November 1, 2016
11 Real-World Tips on Buying a Home
Before you sign the papers, make sure the house has everything that really matters.
When you're about to make a purchase as big as a home, it's easy to get caught up in relatively minor details like paint color or whether or not it has wood flooring. But don't forget to check on the make-or-break features too, like the ones real home buyers shared with us below. And remember, a real estate agent can advise you on what to look out for to help prevent any surprises when you move into your new house. 1. “Good energy (this is the 'it factor' that's hard to describe, but some houses just don't have it!)."
2. "One major thing my husband and I make sure to check when viewing homes is water pressure. Seems like a small thing—turn on the faucet—but believe me, that is something that is hard to change after you buy a house. If you like great water pressure, check it out!"
3. “My number one tip to home buyers is to check the closet before signing on the dotted line! The closet is where you start and end every day—shouldn't you make sure it's comfortable and has the space to accommodate your wardrobe?"
4. “My top priority when looking at potential houses is the floor plan and flow—does it make sense for the way I want to live in my home? The arrangement of rooms, the traffic pattern in the house, and the sense of light and space greatly affect the livability. "
5. “We were looking at an apartment in a big city (which I guess is a little different), but we tried to visit at a time when traffic would be the worst to see what the noise was like."
6. “For myself and my clients, I make sure to check the big-ticket items, like the roof, windows and heating systems."
7. “It's simple. Home buying should be about square feet and location. Everything else is just cosmetics."
8. “I was told, 'You want to like the way your house looks, but you should also like the house across the street because that's the one you're going to look at.' (It's true!)"
9. “We have the kids play at the neighborhood playground so we can get a feel for the neighborhood. In addition, we drive by the house at different times of the day and week to check things out, like street parking, noise level and traffic."
10. “I looked at the outdoor space—having trees on the property was important to me. And also how much sunlight I would get in the house during the day."
11. “It's important to consider not just proximity to neighbors but who the neighbours are. While plumbing and electric can be upgraded, neighbours cannot be exchanged."
Contact me today for a Free Home Value Report by going to www.kimlouie.net!
Tuesday, October 25, 2016
Factors a Home Seller Controls that Make the Home More Saleable
1. The condition of the property
Your home needs to be in great condition in order to secure the best sale price. Ensuring the home is well-maintained is crucial.Make sure that there is no clutter in the home and that everything is well-serviced and neat. By presenting a house that is well taken care of and requires little maintenance will really appeal to home buyers.
2. Terms
Don’t make your home difficult for people to purchase. Why not offer an incentive or provide them with a home inspection report? By doing so you will be reaching out to a wider market.3. Availability
If you want to increase your chances of selling your home then you need to work out a schedule that will fit around the home buyer’s needs. You want to make sure that you are flexible.Another saleability factor that you should consider is preparation. Showing potential buyers that you are prepared to move out quickly will greatly appeal to them.
4. Upgrades and extras
This has to be one of the more important aspects of saleability. This could mean anything from renovating the kitchen, installing a new heating system, upgrading to the windows, to something as small as a coat of paint. Some renovations will appeal to home buyers, however don’t fall into the trap of thinking that all renovations will add value in buyers’ eyes. Many renovations that involve decor are subjective to taste, and therefore keeping renovations neutral and practical can greatly increase your home’s appeal.5. Price
By ensuring you have set the right price for your home, there is a far greater chance that you will sell your property in a timely manner. It is best to do some research so you have a better chance of choosing the right selling price.A Comparative Market Analysis works well, as does comparing recently sold homes in your area and recently listed homes. It is crucial to know about the sales market so you can work out a suitable and realistic price for your home.
If you’re getting ready to sell your home and want to know how you can save thousands of dollars in commission fees, come to one of our free info sessions!
Contact me today for a Free Home Value Report by going to www.kimlouie.net
Tuesday, October 11, 2016
How Your Credit Score Affects your Mortgage Rates
Your credit score is a judgment about your financial health, at a specific point in time. It indicates the risk you represent for lenders, compared with other consumers. Your credit file is created when you first borrow money or apply for credit. On a regular basis, companies that lend money or issue credit cards to you — including banks, finance companies, credit unions, retailers — send specific factual information related to the financial transactions they have with you to credit reporting agencies.
When you apply for a new loan, the loan officer will check your credit history first. Your credit score in most cases influences the amount you can borrow and also your interest rate. Understanding your credit score in a better way enhances your chances to develop a higher score and thus benefit from loans at better terms and conditions.
A credit score is calculated from many different factors: your payment history, your credit card balances, bank accounts, including savings and chequing accounts, and any other form of credit including all outstanding personal loans, mortgage loans, store credit cards, etc. Each credit reporting bureau has their own standards and formulas that they use for the purpose of calculating a consumer’s credit score. The following is a generalized classification of a credit score rating:
Excellent credit rating - No late payments, no collection notices, no bankruptcies or repossessions.
Good credit rating - May contain a late payment within the last two years.
Fair credit rating - More than one late payment. May or may not have a bankruptcy or repossession in the last two to three years.
Poor credit rating - Recent collection attempts, late payments within the last year, bankruptcies and/or repossessions within the last two to three years.
The reason why a credit score is important is that it will determine your eligibility for a loan. A low credit score may hinder approval, and it will also impact the interest rate you will have to pay for the money that you borrow.
Since individuals with less than perfect credit traditionally present more of a risk of defaulting on a loan, lenders are able to justify charging more interest to those consumers. The extra interest the lender earns on the loan is intended to compensate the lending agency in the event the consumer defaults on the loan. Over the course of a 15 or 30 year mortgage, those extra interest points can add up to an astounding amount of money.
Your credit score is an indication of your financial health. You should do your best to avoid damaging your credit history with late or missing payments, too many outstanding loans or too many loan requests. Watching your credit score closely especially before you make any major purchases will help you avoid unwanted surprises.
Contact me for a Free Home Value Report by going to www.kimlouie.net!
Friday, October 7, 2016
SEPTEMBER HOME SALES SHOW NO SIGNS OF COOLING
KITCHENER-WATERLOO, ON (October 5, 2016) ––A total of 540 residential properties changed hands in Kitchener-Waterloo and area though the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in September. This represents a 29.2 percent increase in sales compared to September of 2015, and is a new record high for the month.
On a year-to-date basis 5,241 residential units have sold compared to 4,456 during the same period in 2015, an increase of 17.6 percent. This is the first time sales have exceed the 5000 unit mark at the end of the third quarter.
“While demand remains strong, the supply of active listings continues to be elusive,” said KWAR President Charlotte Zawada. Residential listing inventory on the KWAR’s MLS® System to the end of Septembers totalled 815, a decline of 51 percent compared to September 2015.
Showing the most traction, were the sales of condominium type units, which include any property regardless of style (i.e. semis, townhomes, apartment, detached etc.), increasing 80.6 percent to 130 transactions in September relative to the same month a year ago. Meanwhile, 333 single detached homes sold last month, an increase of 19.8 percent, compared to last year. September’s sales also included 31 Semi-detached homes (down 18.4 percent) and 33 freehold townhouses (up 22.2 percent).
The average price of all residential properties sold year-to-date was $380,692, a 9.7 percent increase over 2015. The average price of a detached home to the end of the third quarter was $443,554, an 11.8 percent increase over 2015. During this same period, the average sale price for an apartment style condominium was $231,187, an increase of 4.5 percent. Townhomes and semis sold for an average of $281,709 (up 8.3 percent) and $293,167 (up 8.5 percent) respectively.
The median price of all residential properties sold year-to-date increased 9.9 percent to $350,000, and the median price of a detached home during the same period increased 10.9 percent to $400,500.
“Like many of our neighbouring market areas, it continues to be a sellers’ market here in Waterloo region,” says Zawada. “The tight supply of listings we’re experiencing is putting upward pressure on prices.”
Although growth for the region is generally positive, and demand for residential real estate continues to be strong, Zawada acknowledges that the recent measure by the federal government to introduce a mortgage rate “stress test” on all new insured mortgages could delay home purchases for some would-be first time buyers, as they assess what they can afford, and possibly save for a bigger down payment. “While the changes shouldn’t impact our market to a large degree, the very fact that the government is taking these steps could cause a slight cooling of the market,” says Zawada.
Contact me today for a Free Home Value Report!
Wednesday, September 7, 2016
August breaks all time record for Home Sales in Kitchener - Waterloo!
There were a total of 598 home sales in Kitchener-Waterloo and area though the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in August. This represents a 26.4% increase in sales compared to August of 2015. It also ranks as the most active August on record and 37.6% above the 5-year average for the month. Year-to-date sales also climbed to new heights with 4,703 residential sales so far in 2016. Again, this is the highest on record for this period and 23.4% above the 5-year average.
Active residential listings continue to remain depressed in comparison to the same time last year. The number of active residential listings on the KWAR’s MLS® System to the end of August sat at 863, which is 46.6% lower compared to same period last year’s 1,616 homes that were on the market. It wasn’t just temperatures heating up in August. We’re still experiencing tight market conditions in terms of available homes for sale and this continues to push home prices in the Region upward.
August’s sales included 353 single detached homes (up 19.7% compared to August 2015) and 151 condominium type units (up 36.0%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 40 Semi-detached homes (up 14.3%) and 49 freehold townhouses (up 69.0%). The average sale price of all residential sales in August increased 15.2% to $402,000 compared to August 2015.
We saw strong residential activity this summer season and with record setting year-to-date sales it’s clear that buyers remain confident about the value of homes in Kitchener-Waterloo. Single detached style homes sold for an average price of $487,050 an increase of 20.9% compared to last year. The average sale price for an apartment style condominium was $233,302, an increase of 7.9%. Townhomes and semis sold for an average of $298,148 (up 10.2%) and $299,353 (up 5.5%) respectively.
| Residential Sale Price and Total Units Sold in August over the last 10 years: Units Sold | K-W Only Sales | All Area Sales | |||||||||
| K-W Only Sales | All Area Sales | Average Price | Median Price | Average Price | Median Price | ||||||
| 2007 | 491 | 547 | $242,457 | $226,000 | $247,766 | $228,800 | |||||
| 2008 | 398 | 436 | $266,974 | $244,000 | $269,252 | $245,500 | |||||
| 2009 | 471 | 513 | $254,374 | $238,500 | $258,508 | $240,000 | |||||
| 2010 | 361 | 398 | $273,451 | $253,000 | $280,833 | $258,000 | |||||
| 2011 | 358 | 403 | $295,829 | $272,000 | $301,501 | $275,000 | |||||
| 2012 | 352 | 399 | $304,251 | $280,000 | $316,039 | $288,000 | |||||
| 2013 | 376 | 421 | $307,398 | $287,750 | $317,516 | $295,000 | |||||
| 2014 | 429 | 476 | $321,408 | $297,000 | $326,659 | $302,250 | |||||
| 2015 | 420 | 473 | $337,865 | $314,500 | $348,879 | $318,000 | |||||
| 2016 | 535 | 598 | $387,438 | $355,100 | $402,000 | $360,000 | |||||
Contact me today for a Free Home Value Report by going to www.kimlouie.net!
Monday, August 22, 2016
Tips to Preparing Your Home for Sale
Planning an open house? 7 tips to follow in order to make a great first impression:
1. Clean up
Take a few seconds to look up and down each room to identify any areas that are often neglected and give them a deep clean.
2. Depersonalize and de-clutter
Try to find a way to organize the things you want to keep and get rid of the rest, either by giving them away, throwing them out or storing them in an offsite storage space.
You’ll also want to put away any photographs or personal items so that your guests don’t feel as though they’re intruding — they should be able to easily imagine their own belongings in the space.
3. Build curb appeal
Walk out onto the curb of your home and observe it. Try to make the front of your home look as inviting and safe as possible.
4. Maintain your landscaping
While you’re outside, take a look at any trees or bushes you may have. Prune, trim and weed to create a clean atmosphere. The key is to make everything look fresh and new for potential buyers.
5. Revive faded rooms
A fresh coat of light, neutral paint is a must in most rooms. Not only do newly painted walls create a clean feeling, but their neutrality allows potential buyers to add on their own personality or ideas. Bright or bold colours are not everyone’s cup of tea.
6. Get rid of that smell
Don’t just cover it up with air freshener – find the cause of a bad smell and eliminate it. Invite a trusted friend over to help you detect any off-putting smells and then get to the source.
7. Brighten up the space
Clean all windows and open up the blinds or drapes to let in the light. Ensure that each fixture in the house has a working light bulb of the maximum safe wattage, to brighten the space. Good lighting creates an uplifting atmosphere and will appeal to potential buyers.
As a host, you know your home inside and out. Once visitors arrive, talk to them and make sure to sell your favourite rooms and features!
Contact me today for a Free Home Value Report by going to www.kimlouie.net
Sunday, August 7, 2016
Slight Increase in Home Sales in July Despite Low Housing Inventory - Not enough listings!
Strong sales activity helped to bring year-to-date total sales to 4,108, a 15.2% increase compared to the same time last year, and 21.7% above the 5-year average.
"It’s been a strong summer to say the least for residential sales in the Region," said Charlotte Zawada, President of the KWAR.
Active residential listings continue to remain depressed in comparison to the same time last year. Currently, the number of active residential listings on the KWAR’s MLS® System to the end of July sat at 1,073, which is 37.3% lower compared to same period last year. This translates to 59.4% fewer available listings on the market today than the same time last year.
July’s sales included 364 single detached homes (up 0.8% compared to July 2015) and 144 condominium type units (up 16.1%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 48 Semi-detached homes (up 9.1%) and 26 freehold townhouses (down 49.0%). The average sale price of all residential sales in July increased 13.2% to $387,102 compared to July 2015.
"We’re still seeing buyers compete for a limited number of listings on the market and the skew in supply and demand is maintaining an upward pressure on home prices in the Region," says Zawada. Single detached style homes sold for an average price of $452,799 an increase of 14.0% compared to last year. The average sale price for an apartment style condominium was $240,944, an increase of 14.2%. Townhomes and semis sold for an average of $285,611 (up 10.7%) and $308,479 (up 16.4%) respectively.
Contact me today for a Free Home Value Report by going to www.kimlouie.net
Tuesday, August 2, 2016
A "To-Do" List to Ensure a Great Open House!
You’re about to host your first open house. You’ve got an MLS® listing, an ad in the newspaper and you’ve shared your listing on Facebook. There’s a sign on your front lawn and another one down the street. You’re waiting for a potential homebuyer to walk through your front door.But just getting people through the door doesn’t guarantee a sale.
The success of an open house can depend on many factors.
If you have taken the time to create curb appeal, de-clutter, depersonalize and neutralize, then the next step – the open house – will be easy and stress-free.
Here are Kim’s 7 to-dos to ensure your open house is a hit:
1. Hype-up your curb appeal
2. Take the odour test
3. Maximize your kitchen
4. Make your bathroom shine
5. Don’t use bedroom closets for storage
6. Tidy up the living room
7.Dehumidify the laundry/basement areas
Contact me today for a Free Home Value Report by going to www.kimlouie.net
Tuesday, July 19, 2016
5 Things to Consider Before Purchasing a Home
Buying a home doesn’t have to be a complicated process. The secret to an easy experience is doing your homework prior to making a purchase.
Here are 5 tips to ensure a smooth home-buying process:
1. Have a pre-determined budget and stick to it
When searching for a home, it’s best to immediately exclude all properties outside of your price range. First, meet with your financial institution and discuss your financing options to determine what you can and cannot afford. Next, create an honest budget and you’ll be able to determine how much you can comfortably afford to put towards your mortgage, after a down payment.
2. Don’t let emotions get the best of you
Make sure to get a home inspection to ensure the home is in good condition. If the property requires a number of expensive repairs you must, again, be honest with your budget.
3. Don’t judge a home by its photo
If you’re browsing online and see a home in your price range but it doesn’t look quite like your ‘dream’ home – or if there are no pictures posted at all – it may still be worth a look. If the home is in good condition and it ends up being somewhere you can see yourself living, then you may have found a hidden treasure.
4. Is this the right neighbourhood?
The neighbourhood you live in greatly effects how you feel about your home. Determine what you’re looking for in a neighbourhood. If the home you’re considering isn’t located in a neighbourhood you’d be happy living in, you may want to continue your search.
5. Ask for help
A licensed sales representative can help you throughout the home-buying process – from house hunting to negotiations and handling the paperwork. However, it’s also important to gather feedback and support on a personal level. Consulting with family and friends can help keep you levelheaded and optimistic if you’re having difficulty finding your dream home.
Contact me today for a Free Home Value Report by going to www.kimlouie.net!
Monday, July 11, 2016
Tips for moving to a new city!
- Find things out before moving to a new city
- Wind up life in your old city
- Pack your stuff
- Keep track of all the paperwork
- Give yourself the luxury of time
- Keep your finances in order
Contact me today for a Free Home Value Report by going to www.kimlouie.net!
Wednesday, July 6, 2016
RECORD NUMBER OF HOME SALES RECORDED IN FIRST HALF OF YEAR for 2016
KITCHENER-WATERLOO, ON (July 5, 2016) –– Residential property sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) had yet another record month with 740 properties sold in Kitchener-Waterloo and area in the month of June. This represents a 13.1% increase compared to the June of 2015, and ranks as the most active June on record. During the first half of 2016, there were 3,519 home sales, 18.0% above last year’s total for the same period and 22.8% above the 5-year year-to-date average.
"This is the highest number of home sales we have ever recorded in the first half of the year" said Charlotte Zawada, President of the KWAR.
On a monthly basis, home sales were 29.7% above the 5-year average for the month of June. As sales continue their upward trend, active residential listings continue to remain depressed in comparison to the same time last year. Currently, the number of active residential listings on the KWAR’s MLS® System to the end of June sat at 1,199, which is 33.9% lower compared to same period last year. This translates to 51.4% fewer available listings on the market today than the same time last year.
June’s sales included 485 single detached homes (up 13.6%) and 145 condominium type units (up 2.1%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 46 Semi-detached homes (up 9.5%) and 54 freehold townhouses (up 42.1%). The average sale price of all residential sales in June increased 11.2% to $390,144 compared to June 2015.
"With fewer listings on the market combined with an increased interest in people wanting to live in the Region, we’re seeing upward pressure on home prices," says Zawada. Single detached style homes sold for an average price of $451,289 an increase of 10.7% compared to last year. The average sale price for an apartment style condominium was $232,999, an increase of 8.0%. Townhomes and semis sold for an average of $277,672 (up 14.5%) and $296,572 (up 10.6%) respectively.
| Residential Sale Price and Total Units Sold Year-To-Date over the last 10 years: Units Sold | K-W Only Sales | All Area Sales | |||||||||
| K-W Only Sales | All Area Sales | Average Price | Median Price | Average Price | Median Price | ||||||
| 2007 | 3,113 | 3,428 | $242,690 | $225,000 | $248,911 | $228,000 | |||||
| 2008 | 2,796 | 3,127 | $261,326 | $240,000 | $267,490 | $244,000 | |||||
| 2009 | 2,468 | 2,755 | $259,244 | $243,000 | $263,552 | $245,000 | |||||
| 2010 | 2,772 | 3,121 | $286,518 | $260,000 | $292,678 | $264,500 | |||||
| 2011 | 2,559 | 2,886 | $298,304 | $270,000 | $304,393 | $275,000 | |||||
| 2012 | 2,571 | 2,882 | $306,300 | $282,500 | $313,991 | $287,500 | |||||
| 2013 | 2,522 | 2,832 | $320,937 | $293,750 | $328,215 | $296,625 | |||||
| 2014 | 2,427 | 2,741 | $330,695 | $302,000 | $338,699 | $307,000 | |||||
| 2015 | 2,649 | 2,982 | $340,546 | $315,000 | $347,974 | $319,000 | |||||
| 2016 | 3,162 | 3,519 | $367,218 | $340,510 | $373,618 | $345,500 | |||||
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