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!

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 (   519.579.4110 | 519-498-8118                8 www.TeamMcneil.com, www.ClickThatHouse.com, www.LoftStyle.ca, www.ElmiraRealEstate.ca

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By Warren McNeil

According to the Kitchener Waterloo Real Estate board the numbers are in for January 2010 and we are up 64% in unit sales over 2009. This is great news and the main reason for this is increase is because of the low interest rates and a high level of consumer confidence. 

“This year we are off to quite a different start compared to last year, which is really encouraging,” said Ted Scharf (pronounced Skarf), the President of the WREB, “January is traditionally a slower month for residential sales. These results show that there is definitely demand in the market and the traditional mindset of waiting until spring just doesn’t seem to be as strong. ” 

Another interesthing point that I read is that the average house price in Kitchener-Waterloo increased by 12.3% because of an increase in sales of homes over $400,000.

My experience with the market is that stuff is selling really quickly. I find it difficult to get into see properties fast enough. The good deals seem to go really quick!!!

To see the full article, go to:

http://news.therecord.com/article/666766

and the KWREB press release
http://www.kwreb.on.ca/Stats/January%202010%20Media%20Release.pdf

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!