Light Rail Transit in Kitchener - Waterloo Continues Forward

The Central Transit Corridor Community Building Strategy will provide a framework for how our community will be built around rapid transit. Over the past several months, a great deal of effort has gone into understanding the context of the corridor and the direction it will take as it develops through dozens of stakeholder interviews, workshops, open houses, speaker events, and regular storefront hours. Through discussing and exploring new opportunities for mobility, place-making and strengthening the community, we have a solid foundation for drafting the vision and strategies for the corridor which will include enhancing mobility, encouraging healthy communities, fostering a green corridor, creating great places, strengthening the economy, and enhancing learning.   If you didn't get a chance to participate, it's certainly not too late! Here are some other ways to provide your input:    Summer Events: It's summer! But that doesn't mean the Community Building Strategy is on vacation. They want to meet you where you're at, so   they've arranged to be at some of Waterloo Region's favourite summer events and festivals. Check out the summer events flyer. Storefront: Their storefront, located at 220 King St. W. in Kitchener, will continue to be open during the summer months. Please drop in, chat with staff and provide your comments. They're open Tuesday 9 a.m. to 1 p.m., Thursday noon to 5 p.m. and Friday noon to 4 p.m.   Fall Public Meetings and Events: Plans are being made for a series of open houses this September for you to see the draft Community Building Strategy and provide your input. Sept. 17, 4-7 p.m. at Cambridge Centre for the Arts Sept. 18, 4-7 p.m. at Knox Presbyterian in Waterloo Sept. 20, 4-7 p.m. at the Storefront, 220 King St. W. in Kitchener Mark your calendar for guest speaker Karina Ricks, a planner with Nelson Nygaard whose work has helped demonstrate that the decisions we make today in Waterloo Region will shape and drive our communities, economy, and environment for the next century or more. She will speak at 7p.m. on September 18 at the Knox Church directly following the open house.

Fun Events in Kitchener-Waterloo

Kitchener-Waterloo offers many fun events throughout the summer!  I thought I would list a couple of my favourites along with links to their websites.....Enjoy!

This weekend is the Craft Beer and Rib Fest at the recently upgraded Victoria Park from July 20th to the 22nd..   Be sure to check out the Boathouse for some live music as they are now open again.

Craft Beef and Rib Fest:http://www.kitchenerribandbeerfest.com/main2.cfm

On the same weekend of July 20th to the 22nd is the Uptown Waterloo Jazz Festival.

Waterloo Jazz Festival: http://www.uptownwaterloojazz.ca/

Quickly becoming one of the biggest and best Blues Festivals in North America is
the Kitchener Blues Fest from August 9th to the 12th.

Kitchener Blues Fest: http://www.kitchenerbluesfestival.com/2012-schedule

Have a great Summer everyone, and remember, if you know someone who is thinking of buying and selling real estate this year, please let me know....I'd really appreciate it! :)

Home Buying Process in Kitchener-Waterloo

For First-time buyers, or those who haven't purchased a home in a long time, the process of buying or selling a home can be a little daunting. Having a general understanding of what to expect can help.  This is a brief synopsis of my buyer counselling session I provide to all my buyer clients.

This is an outline of the typical home buying process. Emphasis on process -- because it's not an event , it's a process that can take weeks to months, depending on a lot of variables. I also can emphasize typical, because the process can be different, depending on what type of purchase you have,  whether it's an investment purchase or a home for your family, and it can differ depending on your your of loan or your conditions.

I've broken the process down into 8 general steps:

1. Pre-qualifiying. Whether you've begun searching online for a home, like 90% of today's buyers do, or whether you've contacted a Realtor or not, you're real first step should be to get in touch with a lender and get pre-qualified. This way you'll know how much you can afford and you won't waste time looking in the wrong price range. You'll also have that all important pre-qualification letter when you do find a home that you want to make an offer on. Otherwise, a seller won't take you seriously.

When looking for a lender, it's really important to get a recommendation. Either from family or friends, or from your Realtor. As Realtors, we're going to recommend someone with a good track record, someone we rust to do a good job for our buyers. We're interested in a successful outcome for our buyers, and we are interested in their satisfaction as much as we can control that. If they are happy with the home buying experience and with our service to them, they are more likely to refer us to their friends and family.

2. Home Search. This is where an experienced buyer's agent comes in handy. Someone who knows the neighborhoods and the values, and someone who knows how to listen and help the buyers hone in on what they really want. Knowledge of home types, amenities and market trends is invaluable.

3. Making an Offer. There are several things to consider when you make an offer, not just price, although that is the most important consideration. There is time frame -- it helps to know the sellers motivation. Maybe they need time to find another home themselves, or maybe they've already moved out and would like to settle as soon as possible.

Another issue is closing costs. Does the buyer have necessary funds? Does the seller have enough room to pay out the loan so that the seller's lender will allow the property transfer?

And if there are competing offers the buyers have to find ways to make their offer more desirable.

4. Negotiations. Many times the negotiation might go back and forth several times before the buyers and sellers come to "a meeting of the minds". That's why your agent should have good negotiating skills. [Not the "beat-you-to-a-bloody-pulp" kind of negotiating, but the "win-win" kind of negotiating.]

 Both parties have to be a little flexible; the best kind of negotiation is when both the buyers and the sellers come away feeling like they've gotten what is most important to them. There can be several times during the process that require more negotiating.

5. Loan Application. The offer of purchase and sale will usually stipulate a certain number of days for the buyer to waive their "financing condition." Both parties must remember  that "Time is of the essence". Somewhere along the process the lender will usually order an appraisal to determine the value of the house.

6. Home Inspection. The buyer has a right to a home inspection and there may be other inspections that the lender will want. After the inspections there are more negotiations that take place as to how to address repairs if any are needed. A home inspection is a good idea, in case any material defects are uncovered; the seller will have to deal with them before settlement.

7. Underwriting. Once the buyer has loan approval, the repairs, if any are done, and all contingencies are met and signed off... then the file goes to underwriting. Once the underwriter signs gives the OK, then the purchase contract moves forward to closing.

8. Closing.  Signing of the closing documents usually takes an hour and lots of papers are signed. Keys are handed over and the buyers can move into their new home.

The typical process can take between 30 to 90 days from contract to close. If there are difficulties, like with an appraisal, or longer than anticipated repairs, the buyers and sellers can sign an amendment to extend time lines.

So, if buyers have a move-in date in mind, its best to start the process 3 or 4 months before that.

Sellers need to consider the average time on market in their area, and contact an agent who comes with a recommendation.

If you have any questions regarding any homes you see for sale, would like a full buyer counselling session to see if buying a home is right for you, or would like to discuss the local real estate market please contact me today.

5 Inexpensive Ways to Make a Home Safer for Seniors

I just received news last night that my mother suffered a fall and fractured her hip.  This is probably the worst thing that can happen to an elderly person as it reduces their mobility and can affect their morale, aside from the obvious discomfort.

This is a common problem, so I thought I would post a blog regarding elder-proofing a home to help reduce the number of incidents.

America’s largest generation is approaching its twilight years. The oldest baby boomer turned 65 on Jan.1, and every day for the next 19 years, another 10,000 boomers will enter into the traditional retirement age bracket, according to data from the Pew Research Center.

The country’s largest cohort will be faced with a number of later-life planning issues: When to give up driving? Should I try to remain in my home or transition to assisted living? If you’re a boomer concerned with aging in place, it’s time to make your home safe for seniors.

Planning for your golden years now, before an accident happens, will likely allow for more independence as you age. One-in-three adults aged 65 and older falls every year, making falls the leading cause of injury death among seniors, according to research published by the Center for Disease Control.

 You have to be proactive and think ahead.

Retrofitting will not only make your home safer, but it may save you money over the long haul compared to assisted-living communities or a nursing home. The up-front cost may be a lot of money but that has to be weighed against what would it cost if you had to go into an assisted-living facility, which may cost $4,000 to $5,000 a month. If the cost of retrofitting a house is $10,000, that might just represent two months in an assisted living facility.”

Living on a fixed income and concerned about financing a major overhaul to your home? If a senior is covered by long-term care insurance and files a claim due to such conditions as a stroke, accident or old-age frailty, the cost of retrofitting a home may be reimbursed by their policy.

If major renovations aren’t necessary, or affordable, here are some tips on how to make your home senior-safe without breaking the bank.

Railings and bars
Bathroom safety is crucial for seniors. The combination of water and slippery surfaces can spell a world of hurt. If a person needs support on their balance or they find themselves losing their balance, they might well reach for the towel bar which will come off the wall with them as they fall down.  Replace the towel bar in your bathroom with a weight-bearing handrail or a grab bar, which can be purchased for under $20 a piece.

Watch for trip hazards
Remove all area rugs and foot stools from your home to keep trip hazards to a minimum. Keep items off the floor in hallways and entryways to ensure smooth room-to-room transitions. Be sure to tuck away electrical cords. Threshold ramps are very important because bumpy thresholds can make people trip. They run the gamut in terms of price. Check out discount suppliers like discountramps.com if you want to keep costs low.

Remove locks
Remove doorknobs with built-in locking mechanisms, commonly found in bathrooms and bedrooms, to ensure you won’t be inadvertently trapped. Instead, install lever-style door handles, which can be purchased for as low as $7.95.

Revamp slippery surfacesBathroom and kitchen floors can be as slippery as a skating rink when traipsing through your home in sock feet. Iinstalling no-skid treatments in high-traffic areas to ensure stable footing. And don’t forget about the bathtub or shower. Some non-skid shower mats can be purchased for as low as $15.85.

Stay fit!Sure, being an active ager has nothing to do with your home, but the more on-the-move you are, the better your chances of reducing injury. Sign up for a senior yoga class, spearhead a walking group in your neighborhood or join a local gym that specializes in keeping seniors active. Not only will you look great and feel physically fit, there is no denying the mood-lifting benefits of endorphins.

Kitchener Waterloo Residential Real Estate Values Continue to Rise

“Overall, the Kitchener-Waterloo real estate market continues to show long-term strength and
stability”, says Sara Hill, president of KWAR. “While June’s numbers were down somewhat from last year, the number of sales was plenty to bring us right on track with last year.”

 Sales in the first half of 2012 included 2,278 detached homes (up 0.8 percent), 267 semi-detached down 8.9 percent), 217 townhouses (up 2.4 percent), and 668 condominium units (up 2.3 percent).

 On a year-to-date basis, the average sale price of all residential sales increased 3.4 percent to $312,661, compared to 2011. Detached homes sold for an average price of $356,596, an increase of 3.5 percent compared to last year. The average price of condominium units sold during the first half of the year was $209,563, an increase of 1.9 percent over 2011.

The president of the KWAR says that Kitchener –Waterloo’s high degree of market stability is supported by an extremely diverse local economy and consumer confidence in the value real estate as both a wise investment and lifestyle choice.

Ms. Hill cites a recent report from the Conference Board of Canada that says the region of Waterloo will experience the highest economic growth in Canada for medium sized cities in 2012, as additional confirmation that both buyers and sellers should feel very confident in the local real estate market.

Contact me for information on your neighbourhoood.

New Development Project Wins Praise in Kitchener-Waterloo

I am very proud to be part of this new development project that has cleaned up a 16-acre site in the heart of Kitchener and made it safe and available for a residential project!

Here is the Record article below.

Cleanup It has cost more than $9 million to cleanup an old industrial site at the end of Adam Street in Kitchener. The 16 acre site will see more than $250 million invested to build townhouses and apartment-condo buildings.

Record staff

KITCHENER — The deep pockets and commitment needed to clean up contaminated-industrial sites for redevelopment were on full display in recent months where thousands of big trucks were loaded with dirty soil and fill at the end of Adam Street in the Breithaupt Park neighbourhood.

Queensgate Developments (Kitchener Inc.) spent more than $9 million to clean up the site where the Panill Veneer furniture factory was once located, and before that, the Breithaupt Leather Co. had a tannery. It is the most expensive brownfield cleanup in the city’s history.

“The costs were several multiples more than was originally guesstimated by our environmental consultants,” Sam DeCaria, the vice-president of Queensgate Developments (Kitchener Inc.), says in a telephone interview from Toronto.

It’s exactly this scenario that scares developers away from these sites.

“Once you get on a site that size you have to chase the contamination until it is out and gone, a big dig-and-dump kind of process,” DeCaria says.

The empty lot was a target for vandals and the site of a spectacular fire about six years ago that destroyed the remains of the veneer plant. Surrounding property owners had to look at the blight that depressed the value of their houses. The land was producing little or no property taxes.
The 6.4 hectares (16 acres) sat empty for years until Queensgate Developments took it on last year. They have only recently finished the cleanup and city councillors have approved the plans for building about 958 residential units on the land.

Queensgate will spend about $250 million to build 667 apartment-condos in several buildings and 230 townhomes. The townhomes will be on Louisa Street and Blucher Street. In between will be the apartment-condos. A large pedestrian walkway and park will run into the centre of the site from Louisa Street.

Long before they can even start construction on the first buildings, Queensgate spent millions to have 2,200 tractor trailers loaded with contaminated soils and hauled to special dumpsites in Sarnia and Chatham. They had to pay about $50-a-cubic metre to get rid of the contaminated soil. In all, the big trucks hauled away 90,000-cubic-metres of dirty fill.

“The dumping portion of this is a big number,” Bruno Suppa, of Queensgate, says in a telephone interview from Toronto.

This cleanup never would have happened without a special program that sees the Region of Waterloo and the City of Kitchener help developers pay the cleanup costs. When the land is fully developed and worth much more, the property taxes will be far higher.

Under the program the developers will continue paying property taxes at the old, lower rate until the cleanup is paid for, or for 10 years, whichever comes first.

The program was started in Kitchener in 2006 and later picked up by the Region of Waterloo. The province, which is responsible for about 40 per cent of property taxes, which are earmarked for school boards, does not take part in the program.

If the province took part, and agreed to reduced-education taxes until the cleanup is paid for, it would help with the redevelopment of old industrial sites that are contaminated. In short, the developers would recover the cleanup costs sooner.

“You have all those dollars out there that are not returned for some time down the road,” DeCaria says.

“Although the program is well-intentioned and has made a difference, I think that would probably be the single most important amendment,” DeCaria says of speeding up the pay back.

It could take up to seven or eight years to complete the redevelopment. That will be shortened to as little as four years if the developer can interest investors in buying units to be rented out. Work starts on model suites this fall and on the first buildings next spring.

“In Kitchener the vacancy rate is below two per cent so there is a demand for good quality, new units,” DeCaria says.

Queensgate took on the large brownfield site when there is nothing but bad news from the region’s largest employer — RIM. The BlackBerry maker says 5,000 people will be laid off during the next six months or so, the launch of BlackBerry 10 is delayed until next year and the stock price has dropped 90 per cent from its peak.

“In the past four months the Kitchener-Waterloo areas has produced 14,000 new jobs,” Suppa says. “You are the guys that have the economy of the future. That’s what we see, that’s what our group saw right away.”

Added DeCaria: “It is one of the few cities in Canada, and possibly all of North America that has reinvented itself from its very successful industrial background to a knowledge-based economy.”

Tips on Harmonious Home-Hunting for Couples

Despit working a lot with sellers in helping them market their properties, I still enjoy helping buyers find that perfect home.

According to a 2012 survey from Coldwell Banker Real Estate of 1,000 men and women, they both rely on how they feel and how their lifestyle fits into a home when looking for a place to live.  

The survey found 28 percent of women and 25 percent of men put more emphasis on their feelings about a home than they do on the layout, square footage, or even price.

But despite the differences between men and women, there’s at least one thing they agree on when it comes to buying a home -- the majority of women (62 percent) and men (61 percent) know within the first visit if the home is right for them.

For couples entering the home-buying process, here are some tips for harmonious house-hunting:

·         Each person should come up with a list of a few things that are most important to them.  Then, they should come together as a couple to decide on a list of the top three to five things that are important for their home together. 

·         When looking for a home, communication is key.  Consider designating a point person for different aspects of the home-buying process, so that information is not delayed or communicated to just one part of the couple.

·         Don’t get too many people involved; typically more people means more stress and what is most important is that the couple is happy with the decisions being made.

·         Don’t forget to have fun! Remember that this home will be the place to build memories and a life together.

Following these simple, common-sense guidelines can help couples keep the home-buying process fun.  For more helpful advice on the home buying process, contact me today!