June 27 2018 Kitchener Waterloo Real Estate News

REAL ESTATE NEWS

Kitchener Waterloo Real Estate News

June 27 2018

 

Wednesday June 27 2018. This week in the Kitchener Waterloo Real Estate News: crystal balls, the line that divides, developments and redevelopments, Steve Bailey, getting ready to sell, Silicon Valley, the worst commute, HST (the other one)

Crystal ball

Predictions and the real estate market don’t often match up very well. And, it is always hard to make sense of the real estate news reported in the media. The statistics are often too broad to be meaningful or too meaningless to be useful. I mean, what is the point if reporting this year’s May sales in comparison to last year’s May sales? It’s like that old bit about no man can cross the same river twice (because the man will be different and the river will be different too). 

But as you know I have spread sheets and I do my best to look at key metrics like 

  • How many listings are on the market
  • List price to sale price ratios

and both of those are stable. 

The market is still changeable and unbalanced. 

Crossing the line

A few years ago when I helped sell a home on Mary street, the home sellers told me that something like 700 square feet of their backyard was in Waterloo. The home itself and the rest of the property was in Kitchener. That’s not that unusual with our conjoined cities of Kitchener Waterloo. What’s interesting is that every year, my clients would receive a municipal tax bill from the City of Waterloo for a nominal sum (I can’t recall what it was). Funny. Here is a story about a line on a map and now on a sidewalk.

KW develops and redevelops 

Steve Bailey @ RE/MAX

I was surprised last week when I received a mass email from well-known local Re/Max agent — Steve Bailey. (It was also posted on his website and Facebook page, though now it has been removed). It was a long rambling letter defending his involvement in a purchase that he is under investigation for. I hadn’t heard anything about it and I wondered why he would send out such an email.

Then the next day this story appeared in the Waterloo Region Record. Then I knew. 

Then we all knew. 

And here is a follow up story.  

More to follow, I’m sure. 

Getting ready to sell your home is the most important part of selling your home

The idea of getting ready to sell your home may seem like a daunting task. Exactly how will you market your home, sell it quickly and for the price you want are the three key things to consider. There are many things that impact the value of a home, yet thankfully there are basic things you can do for a favourable outcome. Buyers will certainly be one of the most curious about your home during the first week to ten days that that it goes on the market, so see to it that you get off to a great start with these suggestions

Can Silicon Valley disrupt how we build?

The way that most large buildings get built hasn’t changed much from 50 years ago. It goes by a deceptively straightforward name, “design-bid-build. The construction industry is ripe for digital disruption.

Six charts that show that not every Canadian housing market is slumping this month

As Toronto and Vancouver continue to struggle under the weight of federal and provincial regulation, cities like Ottawa and Montreal have been performing remarkably well over the past few months.

Toronto has sixth worst commute in the world

…And the worst commute in North America, worse than the notoriously terrible L.A. The study looked at 74 cities and examined key factors, including the average commute time and time spent in traffic. Here are the 10 best and worst cities ranked

Fear and loathing in Waterloo Region

Hunter S. Thompson once said, “The music business is a cruel and shallow money trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There’s also a negative side.” 

He could have been referring to the real estate business.

When an agent who’s team reportedly sells 500 houses a year cannot tell the difference between a $300,000 home and a $600,000 home, there is something wrong. When he denies any wrong-doing then, well, I don’t want to kick a guy when he is down, he’s innocent until proven guilty, which will likely be very soon. 

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