February 27 2019 Kitchener Waterloo Real Estate News

winter weather

Kitchener Waterloo Real Estate News 

February 27 2019

Wednesday February 20 2019. In this week’s Kitchener Waterloo Real Estate News: past predictions, Fairview Park Mall, student housing, buying the best, making friends in a new city, KW’s diverse tech ecosystem, North American cities home prices compared, medieval trade routes map, the weather…

Nine weeks in

Here we are at the end of February and I predict that when the statistics come out next week we will see that the number of sales, as well as the average prices will be up over last year’s numbers. I think that the inventory of homes for sale will be up as well, but not a lot — inventory is slowly expanding, slowly. 

I don’t know these things for sure, I just feel that I have been busier this February than in past years. And my busyness is only a reflection of the clients that I am working with.

Having said that, I’ve noticed that the homes at the entry level of the market are selling really fast, and I guess that’s typical. At the same time, the move up market, houses in great family neighbourhoods seem to be lingering longer times on the market than I would think. Maybe they are too far ahead of the curve. Buyers and sellers still have a lot of time. 

Fairview Park Mall in Kitchener set for $70M upgrade

Phase 1 of new Grand Market District will combine retail, restaurant, office and residential spaces. The first phase of the project is expected to break ground in the spring and is targeted for completion in 2021. Cadillac Fairview says the former Sears building will be repurposed to create retail space, adding that the exterior of the Kennedy-era style building will be re-clad in some areas and restored in others.

Where to find Ontario’s best student housing

According to Real Estate Wealth Magazine, Waterloo has a glut of student housing inventory largely driven by foreign investment, but the accommodations are fabulous. Nevertheless, the closer the property is to the University of Waterloo, the fewer problems investors will have finding tenants. 

What did I tell you?

How to make friends in a new city

I work with a lot of families and individuals who relocate to Kitchener-Waterloo, as I did myself almost twenty years ago. Commute times, schools, neighbourhoods tend to dominate what we talk about. Making new friends does not really come up. That’s the easy part. 

Pros and cons of buying the best home in the neighbourhood

There are few things that every real estate agent will agree on, but you can bet that most will tell you not to buy the best house in the neighborhood. There are many reasons. However, there are also a few reasons why you might still want to avoid this common advice. For some buyers, getting the best house on the block is worth it.

Kitchener-Waterloo’s diverse tech ecosystem

A new report that seeks to shine “a light on the Waterloo region technology scene” using publicly-available company information has found that the local tech community is exceptionally diverse, operating in more than 60 different sectors of the economy. The report, written by Lee Brooks of Cromulent Marketing, used LinkedIn data to get a snapshot of the local technology business community. Here’s what he found.

Canadian cities lead the pack for North American home price hikes

Canadian home prices have increased pretty drastically in the last five years. According to a recent report from Point2 Homes, six of the top 10 North American cities with the biggest home price changes are in Canada.

A detailed map of medieval trade routes in Europe, Asia, and Africa

I love maps. This one depicts the general topography, rivers, mountain passes and named routes. All of which contributed to why cities came to be, and still are, up until modern times.

And now the weather

Winter is a bad time to take stock. Stores are low, as is optimism and morale, as is the morning sun on the horizon. You should never make life changing decisions in the wintertime. We are all sick of it by now. I think most of us would be fine with winter if it just wasn’t so long. 

I was out in my driveway hacking away at the ice. In places it is four inches thick. If I wedge the spade underneath, I can pry up a huge chunk and then I shuffle it out to the end of the driveway and into the street. I’m not waiting for spring. Like my neighbours up and down the street, we are hurrying winter along. Here’s your hat. What’s your hurry? That was the highlight of last week’s weather.

Further reading:

How to get multiple offers

Random thoughts on van life, dog food and tape

Tell a friend about this awesome website. 

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