Kitchener Waterloo Real Estate News
June 20 2018
Wednesday June 20 2018. This week in the Kitchener Waterloo Real Estate News: a closed experiment, reading a lot in KW, fewer sales forecasted, price expected to rise, yard signs banned, realtors’ reward, blockchain, stabilizing housing markets, coffee, summertime.
The Red Pin in the red
Just ten days after I changed brokerages, my former brokerage closed its doors last week. I like to think that I was the only rep keeping it afloat, or that my leaving was the last straw – the one that broke the camel’s back, but I know that it was a failed experiment that got off to a great start and then lost its way. And although I did not think it was about to close, they were making changes (like eliminating benefits, and cutting back on staff hours) that were indicators of the end of the lush life, the life flush with start-up investor cash. Yep, we burned through some cash.
Waterloo, Kitchener on Canadian Cities that Love to Read list
Waterloo is #2 on the list of “Top 20 Canadian Cities that Love to Read,” while Kitchener checks in at #17. To see the full list, click here.
Fewer sales forecasted for Canada
The Canadian Real Estate Association is lowering its national home sales forecast for this year due to weaker sales in B.C. and Ontario. The industry association says it now expects home sales this year to fall 11 per cent compared with a year ago.
But that doesn’t mean lower prices
According to the CMHC, Ontario home prices are expected to rise.
Another sign of the times
In an effort to declutter residential neighbourhoods, one city council has banned “for sale” signs for a six month trial period. Most people find their homes online and/or with their agents. For sale signs, like weekend open houses are nowhere near as important as they once were now that we are living in the internet age.
How Much Do Real Estate Agents Make?
The most successful agents put in 60 hours or week or more showing homes, meeting with clients and looking for new business. But for those agents who make that commitment, the rewards can be great. How much do we make? Read this.
What does blockchain technology mean for real estate in Canada?
First off, let’s make one thing absolutely clear: do not confuse blockchain with cryptocurrency. There are over a thousand cryptocurrencies that have been born, and it is because of these that blockchain technology has surfaced.
So what is blockchain? Blockchain is a secure, open platform technology where digital records can be stored, shared and verified without the threat of fraud or tampering.
7 stats that explain how the Canadian housing market started to stabilize in May
Canadian home sales fell just 0.1 per cent in May, after months of serious drops, according to the latest release from the Canadian Real Estate Association (CREA.) On balance, this was a better-than-expected report. Sales were effectively flat during the month – their best turnout so far this year. It could be a sign that the market has finally stabilized.
And the most caffeinated nation is…
Schools will be out pretty soon but already it is feeling a lot like summer. I love the hot humid weather and I intend to enjoy this summer as much as I can. The past few years the local real estate market has been crazy and summertime has been no exception, but now we are in a “balancing market” with less urgency, less FOMO, slower rising prices but still little inventory, but overall less volume. Geeze, I sound like a business reporter. I’m going to a lake!