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April Home Sales Continue to Set Records ~ Kitchener-Waterloo

wmcneil — Tue, 18 May 2010 01:07:03 +0000

April Home Sales Continue to Set Records

KITCHENER-WATERLOO – The sale of residential homes set a new record for April, surpassing the previous level set in 2007. Residential property sales through the Multiple Listing System (MLS®) of the Kitchener‐Waterloo Real Estate Board (KWREB) recorded 724 transactions, edging above the previous record set in 2007 of 711.

The 724 homes sold in April represent an increase of 12.6 percent relative to April 2009 results. In March there were 738 sales.

“April was a continuation of the spring surge which began a little earlier than usual this year with a record breaking March, “said, Ted Scharf, President of the Kitchener‐Waterloo Real Estate Board. “Buyers and sellers had an added sense of urgency this spring with the impending HST implementation and threat of rising interest rates.”

April’s sales included 482 detached homes (up 15.6 percent from 2009), 128 condominium units (up 18.5 percent from 2009), 46 semis (down 13.2 percent from 2009) and 62 townhouses (down 3.1 percent from 2009).

More homes selling in the higher price ranges was a notable trend last month notes Scharf. In April 2009 it was the lower priced residential homes driving the market out of the recession, now however; we are seeing a significant increase in the number of homes being sold above the $250,000 mark. 58% of the homes sold last month went for more than $250,000, compared to 43% in April 2009.

Stronger sales in the upper end of the residential market resulted in a 12.9 percent increase in the average residential price in April to $289,017, as compared with one year ago. Detached homes saw an average sale price of $331,366 a 14.3 percent increase relative to April 2009.

During the first four months of the year, there has been a 38.2 percent increase in the number of residential sales, with 2,437 residential sales compared to 1,763 in the same period one year ago.

REALTORS® believe that healthy communities depend on a strong economy, safe neighbourhoods, a clean environment, access to housing and the protection of rights of property owners. The KWREB recognizes the need to support and enhance the Quality of Life enjoyed by residents of Waterloo region.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118

Connect with us on the following social networks

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websites: www.TeamMcNeil.com, www.ClickThatHouse.com,
www.LoftStyle.ca, www.ElmiraRealEstate.ca

Buying a Townhouse Style Condo in Kitchener-Waterloo

wmcneil — Mon, 15 Mar 2010 17:59:32 +0000

By Warren McNeil,

Over the past couple of weeks we have been helping a few clients buy condos. I have showed quite a few different types of condos. Townhouses, apartment style and lofts. There are lots of options out there right not. But today I want to talk a little about Kitchener-Waterloo townhouses.

Townhouse style condos offer great value because they often have a lower cost per square foot then some of the apartment style offerings. The monthly fee is often lower as well. With townhouse style condos, you sometimes get a little patio area and possibly a deck. This is ideal if you want to host a bbq or you like to have a little area to let out your pets. Keep in mind that some condos won’t allow pets so you will need to look at the rules and regulations.

Townhouses sometimes offer more parking options. The unit might have it’s own garage and driveway.

Depending on the unit, you might have maintenance included in the condo fee which means you will never have to worry about replacing a roof or pay for any exterior maintenance. You are still responsible to pay for any maintenance within your unit. So if you need a new furnace you will need to pay for that yourself.

There are currently 24 non-freehold condominiums for sale in Kitchener-Waterloo ranging in price 134,900 – 350,000. 3 of these townhouses are less then 5 years old.

Thanks for reading!

We are a full-time real estate team in Waterloo Region, Woolwich & Wellesley Townships. We enjoy assisting buyers and sellers with the purchase or sale of real estate in the Kitchener-Waterloo, Cambridge, Elmira, Wellesley, Wilmot, Drayton and everywhere in between. If you would like us to help you with your home search, please check out our brand-new free search website or if you are thinking of selling, get a free market evaluation.

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( direct: 519-498-8118, office: 519.579.4110
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com, www.ElmiraRealEstate.ca
P.S. Looking for a K-W condo or loft, check out our brand new website at www.LoftStyle.ca!
Become a Fan of our Facebook Fanpage at www.facebook.com/TeamMcNeilRemax

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Spring is in the Air!!

wmcneil — Mon, 08 Mar 2010 14:14:39 +0000

By Warren McNeil,

I am a little apprehensive saying this because as soon as I say it, we will be hit with a big snowstorm. I hope Spring is here? I love Spring for a few reasons. I always know when Spring is here because I get to go to the Elmira Maple Syrup festival. Who doesn’t love Sapfest! I can picture those pancakes now.. Yummmmmy!! The second thing is I get to open my fish pond. Hopefully my fish are OK this year. There were a couple of really cold nights. We have had really good luck over the past 5 years so I am expecting this year to be the same.

The other way we can tell Spring is here is the Kitchener Waterloo Real Estate market heats up. I can tell this year is going to be hot. Buyers are “chomping at the bit” to get out house hunting. Some already are.. The biggest issue though is the lack of inventory. There are lots of multiple offers going on and buyers are paying more money for houses. Sellers are getting top dollar for their houses. The is great for sellers but not so great for buyers. With that said, interest rates are still low. I think the key thing buyers should consider is the money they are saving in interest from the bank is offset by the prices they are paying for the houses. Move-up buyers will get more money for their houses but they will also pay more money for the house they plan to buy.

What does this all mean? To me it means that it is still a good time to buy despite the higher prices. Not all areas are effected. So you can still get good deals if you look for them. Research is important before making decision.

It is important to get out and see everything that is available and act fast when you find the house you like.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
8 www.TeamMcneil.com, www.ClickThatHouse.com, www.LoftStyle.ca, www.ElmiraRealEstate.ca

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Facebook: www.facebook.com/teammcneilremax

What’s going on with the Kitchener Waterloo Real Estate Market?

wmcneil — Wed, 03 Mar 2010 21:49:44 +0000

By Warren McNeil,

The spring market is nearly here and our Team is really gearing up. The Bank of Canada has maintained the interest rates which is really good news.

See: http://creanews.ca/2010/03/02/bank-of-canada-maintains-interest-rates-4/

Buyers are in the market right now looking to buy houses. However the biggest problem is low inventory levels. In January, the number of active listings was down 33% over 2009.

See: http://files.newswire.ca/577/MarketTrendsRpt2010.pdf

Our team has been doing lots of market evaluations for people lately so we know that it’s going to be a busy spring.

Now is a good time to sell because of the following reasons:

less inventory can work in the sellers favour. less competition
low interest rates for buyers making it easier to buy
there’s an abundance of buyers
the minimum downpayment requirement is still 5% and not 10%
the olympics are over. Not sure if that’s a good reason but it sounded good
higher offer potential
multiple offer potential

The next three months are going to be really interesting.

Thanks for reading!

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[Video] Top 5 Reasons to Relocate to Waterloo Region

wmcneil — Sat, 06 Feb 2010 22:46:14 +0000

By Warren McNeil

Here is a video that I put together for people considering relocating to Waterloo Region.

[See post to watch Flash video]

Here is a transcript of the video:

People relocate for a variety of reasons. Maybe you are looking for a new job, better quality of life or your are just looking for a change. Waterloo Region has alot to offer and is a wonderful area to move into. Here are the top 5 reasons to move to Waterloo Region.

Number 5:
We have a very low crime rate compared to other cities in Canada. In a study done in 2007, Waterloo Region was ranked the fourth lowest crime rate in Canada. So if you are looking for a safe place to live, look no further. (source http://www.techtriangle.com/invest)

Number 4
We have some of the best Universities and Colleges in the world here. University of Waterloo, Wilfred Laurier and Conestogo College.. A lot of very successful companies were formed by alumni who went to these schools. Companies such as Research in Motion makers of the world reknowned Blackberry, MKS and QNX to name a few.According to Wikipedia, University of Waterloo is also known as the Silicon Valley of the North.

Number 3
Waterloo Region is Canada’s Technology Triangle. There are many high tech companies in the area. One of the worlds fastest growing companies, Research in Motion is based out of Waterloo. If you are a techy, this is the place you need to be! (source: http://www.cbc.ca/technology/story/2009/08/17/rim-blackberry-fortune-fastest-growing.html)

Number 2
Easily accessible. This is one of my favourite reasons. KItchener-Waterloo and Cambridge are extremely accessible. The highways travel down the middle of each city which makes getting around the cities very convenient. If you work in Toronto or London, we are only one hour away. Late last year, GO busses started offering their services here from Toronto.

And the number 1 reason to relocation to the area is:
The cost of living here is very affordable. House prices are about 1/3 less then Toronto. The average house price for a single detached home year-to-date was approximately 297,000 for 2009. We have a very strong real estate market with a good selection of different home styles. If you work in Toronto, you can drive a little to save alot.

Other references:

http://www.grt.ca
http://www.techtriangle.com
http://en.wikipedia.org/wiki/University_of_Waterloo
http://www.cbc.ca/canada/story/2008/07/17/f-crime-2008.html

There are so many more reasons. These were just a few that I thought were worth mentioning. Let me know what you think. If you live in the area, tell us what you like best about Waterloo Region.

Thanks for reading!

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How’s the Kitchener-Waterloo Real Estate Market?

wmcneil — Wed, 03 Feb 2010 06:27:55 +0000

By Warren McNeil,

This is a question that gets asked almost every day. However the answer is a lot more complicated then just saying “it’s good” or “it’s bad”. Each area of the Kitchener-Waterloo real estate market is different. For example, according to the KW real Estate Board, condos in Kitchener-Waterloo had an increase in 2009 of 2.2% over 2008. Freehold condos increased by 2.2% and single detached homes increase was 0.3%.

In order to get a really accurate evaluation of the market, we need to isolate the area that you are most interested in. For example, lets look at freehold condominiums in Waterloo West less then 10 years old. The next thing we do is pull up all the freehold townhouses that sold within the last year. Feb 1, 2009 – Feb 1, 2010. I get the following information.

Freehold Condominiums in Waterloo West less then 10 years old (Feb 1, 2009 – Feb 1, 2010)

units sold 83
average sale price: 249,500
average list to sale price ratio: 98%
average days on market: 38

Now lets do the same comparison for Feb 1, 2008- Feb 1, 2009

Freehold Condominiums in Waterloo West less then 10 years old (Feb 1, 2008 – Feb 1, 2009)

units sold: 59
average sale price: $250.439
average list to sale price ratio: 99%
average days on market: 62

As you can see there is quite a bit of difference. Last year, there were 30 more freehold condos sold then in the same period in 2008. The average sale price was pretty much the same. In 2008 the list to sale price was higher then 2009. The average days on market was alot better in 2009 then in 2008.

What’s my point here? Well it’s simple, each area of the market require seperate analysis to get truly accurate data. From now on, my response when somebody asks the question, “How’s the Kitchener-Waterloo Real Estate Market?” will be, it all depends on what information you are looking for. For Kitchener-Waterloo as a whole, I would say great!

Anyways, thanks for reading!

We are a full-time real estate team in Kitchener Waterloo area. We enjoy assisting buyers and sellers with the purchase or sale of real estate in the Kitchener-Waterloo or Cambridge areas. If you would like us to help you with your home search, please check out our brand-new free search website or if you are thinking of selling, get a free market evaluation.

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110 ~ 519-498-8118
8 www.TeamMcneil.com, www.ClickThatHouse.com, www.LoftStyle.ca
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

Rich Dad’ seminars deceptive: Marketplace – www.cbc.ca

wmcneil — Sat, 30 Jan 2010 05:52:45 +0000

By Warren McNeil,

I came across an interesting article regarding the Rich Dad workshops in Kitchener. I receive mailings from this company all of the time and I just ignore them. I guess there are alot of people that up in arms over the training program. I can’t say much about it other then what I read in the CBC article.

View full article at: Title: ‘Rich Dad’ seminars deceptive: Marketplace

http://www.cbc.ca/consumer/story/2010/01/28/consumer-rich-dad-poor-dad-marketplace.html

Video: http://www.cbc.ca/marketplace/2010/road_to_rich_dad/main.html

If you go to any seminars like these, make sure you pay close attention to the underlying message. If it sounds too good to be true then it probably is. Do your research before spending any money.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

New Movie Theatre and Walmart in North Waterloo

wmcneil — Thu, 28 Jan 2010 03:18:20 +0000

By Warren McNeil,

Empire Theatres is going to build a 10 screen movie theatre at University Ave and Ira Needles Blvd. The complex will open up this fall and will be called, “Empire Theatres Waterloo”.

Walmart is the other confirmed tenant for the Ira Needles centre.

Source: http://news.therecord.com/Business/article/662408

Thanks for reading!