February 14 2018

Kitchener Waterloo Real Estate News

February 14 2018. In the news: spring market prediction, east end high rise, up 81% in 10 years, new mortgage rules, closet stowaway, buying a condo questions, electric cars, university residences, Kowloon’s walled city, cabin fever in the internet age

The impending piebald spring

Six weeks in and the local market is behaving much like it did last year at this time. Same old, same old. Seriously lacking inventory. Prices being pushed up because of high demand, low supply, many multiple offers. If it continues we will have a repeat of last year’s spring, not as crazy, but certainly similar. That’s my prediction. In another six weeks we will be into the slushy, brown and white of spring. Then we will know.

Kitchener’s east end getting a high new view

A multi-million dollar development with close to 500 one and two bedroom units scheduled for an entire block in downtown Kitchener’s east end will bring an updated high rise look to the traditional low rise buildings that have been in that corridor for years. Drewlo Holdings is planning to spend $80 million on a development in what is now a vacant lot in the block that surrounds Charles Street, Madison Avenue, King Street East and Cameron Street.

81% increase in KW house prices over past 10 years

A recent report says the average sale price of homes sold in KW rose from $252,429 in 2007 to $457,415 in 2017. That 81% increase was the third-highest seen in Ontario, behind only the GTA and Hamilton-Burlington. The report credits the increase to the area’s “strong economic fundamentals,” including one of the country’s lowest unemployment rates, and notes that the market emerged from the past decade in a very strong position, with price growth rising 21% between 2016 and 2017.

3 charts that show how Canada’s new mortgage rules shook things up in January

Economists and industry watchers predicted the stress test would limit the number of first-time buyers able to enter the market, bringing sales down for the first quarter of 2018.

But now, a month after the new rules have been introduced, have experts’ predictions come to pass? Here are three charts that explain the test’s impact on the Canadian housing market so far.

A man detected his food going missing so he set up a digital camera and found that a lady had been living in his closet for a year

She had moved a mattress into the small closet space and apparently even took showers

10 critical questions to ask when buying a condo

If the latest launch and sell-out (in two days) sales event in Waterloo Region is any indication, condos are gaining a lot of popularity here. Condos are popular for many first time home buyers not only because they are more affordable, but because they are also a great lifestyle choice. Here are some questions to ask.

Tips for Buying a Home in a Competitive Market

Good solid advice from Black Tusk Realty

Condos grappling with demand for electric car charging stations

Condo boards are increasingly aware of the growing popularity of EVs and the possibility that their condo units might start losing some of their real estate value if they don’t make the switch to at least partial charging-station availability.

Residences and housing at Canadian Universities: What’s new and hot

Canadian Universities are innovating to meet new demands of first year students.

11 Facts about Kowloon Walled City – Once known as the world’s most densely populated place

Kowloon Walled City was located in Kowloon City, Hong Kong, and it spans just 6.4 acres. At its peak, it was estimated to have 50,000 residents giving it a population density almost 120 times greater than New York City.

Home is where your computer is

I was thinking now that more and more is ordered online, or experienced online, delivered right to your home, that your home has become more important than ever.

Public spaces, retailers, movie theatres, eventually even universities and doctor’s offices will become things of the past.

The only trips we will take will be special trips: destinations, single purpose outings, perhaps for a special occasion or a specific reason.

Many of us work and learn from home now. Those were always the two biggest reasons to leave in the morning and come back at night, with maybe a stop at a grocery store, a restaurant, a bank or some other errand in the mix.

Home used to be your base in the community, a place you went back to at the end of everyday, but more and more it is a place that we rarely get very far from or leave at all.

Or maybe that’s just the cabin fever taking hold.

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