August 8 2018 Kitchener Waterloo Real Estate News

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Kitchener Waterloo Real Estate News

August 8, 2018

 

Wednesday August 8, 2018. In this week’s Kitchener Waterloo Real Estate News: customer service, July statistics, August buying, rejected offers, what to buy, microbrew, land transfer tax, Vietnam’s golden bridge, social media  

The value of a customer

I was reading Seth Godin last month about the lifetime value of a customer. And, I remember from some old sales training that it costs six times as much to find a new customer than to retain a current customer. Finally, most successful realtors generate most, if not all, of their real estate business from past customers and referrals. So, we know, I know that good customer service is important. 

I’ve lived in Waterloo Region for almost two decades now and as a homeowner, landlord, real estate investor and realtor, I have used and recommended this HVAC company many times over the years. But no more.

I had a bad experience with them last week when they came to look at my air conditioner and then a second bad experience on the telephone when I complained about the first. I’m pretty easy going as a general rule. I do not expect perfection. I just expect to be treated fairly, and with politeness and honesty. I wasn’t. 

This HVAC company has lost a good customer in me and that is worth thousands, maybe tens of thousands of dollars. Too bad, so sad. Good bye forever. You’re off my list.

Normal number of sales. Prices stable.

July home sales were down 16.8 per cent compared to last month and down 10.6 per cent compared to July of last year. A total of 504 residential properties sold in July compared to 564 in the same month last year. 

On a year-to-date basis, there have been 3,601 home sales during the first half of the year, a decrease of 18 per cent. 

Here are the highlights from KWAR’s July Sales report

The average days it took to sell a home in June was 23 days, the same as in June 2017. 

The average sale price of all residential properties sold in July increased 5.5 per cent to $480,145 compared to the same month a year ago.

The median price of all residential properties sold last month was up 7.1 per cent compared to July of last year at $443,700

There were 739 residential properties listed in K-W and area last month, down 8.9 per cent compared to July of 2017.

The number of active residential listings to the end of July totalled 1,062, which is 3.3 per cent higher than July of last year but still down from the historical (2007-2016) ten-year average of 1,885 listings for July.  

Buy a home in August

Every year we see a similar trend at this time – sales and listings pick up in the spring, and by July and August, many homes that would have attracted multiple offers weeks prior are sitting on the market for two to three times as long. Why? A lot of active buyers hit pause and focus on family and summer activities after schools get out at the end of June.

The real reason your offer was rejected

You fell in love with a home and made a good offer. Why was it was rejected? Here are some surprising reasons…

Should I buy a fixer upper, new build, single detached or town home?

When you initially consider buying a home, you most likely have a pretty good idea of what you want — at least you might think you do. However as you consider your budget and what it will buy, you’ll begin to see that you have several options. As you consider your plan, you will recognize that various kinds of houses will provide different benefits and have different (non monetary) costs or pros and cons, if you will.

Microbreweries invigorating neighbourhoods across Canada

There were about 40 microbreweries across Canada in 1980, That ballooned to about 775 in 2016. Microbreweries bringing back the appeal of local

Everything you wanted to know about the best and worst cities in Canada for land transfer tax

Out of the 25 cities in this chart, KW is #13 — middle of the pack. First-time homebuyers after rebate pay about $2,100 here. 

Vietnam’s new ‘Golden Bridge’ looks like something out of a fantasy world

The new bridge is part of a $2 billion investment that’s helping Vietnam to become one of the fastest-growing tourist destinations on Earth.

Soc Me

I’ve been flirting with the idea of deleting all of my social media accounts. It’s not because I do not get some small amount of pleasure from them. I do. Lately I’ve found a whole bunch of facebook groups about my latest hobby and youtube channels about that too. 

I’m thinking of going away because I shared too much in the early years and now that Facebook especially but the others too are under fire for an assortment of bad deeds by unsavoury characters I’m not feeling as open to open platforms. 

I used to naively think that sharing was nice and good, but now I feel like I am being manipulated.  

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