November 7 2018 Kitchener Waterloo Real Estate News


Kitchener Waterloo Real Estate News

November 7, 2018


Wednesday November 7 2018. In this week’s Kitchener Waterloo Real Estate News: a look back, scattered limes, DTK, October stats, buy? wait?, seller-buyer disconnects, two top startups, crime data, sin city, a look ahead

A look back (already)

It is always at this time of year that most Realtors look back and judge the year that they just had. Take stock. What worked well? What didn’t. What successes did I have? What could I have done better? What did I learn?

Here are three:

  1. I should have changed brokerages at the beginning of the year. I love my new brokerage. It is a perfect fit. 
  2. The market is more like it was five years ago and our behaviour as Realtors has to change to match this. Whereas speed and good analytics were the keys to success when the market was white hot, now communication and negotiation are back to driving favourable outcomes, positive results or dismal failures.
  3. 65% of my business this year came from past clients, repeat business and referrals. The rest (35%) came through my online blogging efforts. Those are statistics I am proud of. 

Kitchener seeks ideas for the future of quieter part of downtown

The city is inviting property owners, nearby residents and business owners to have a say in what sorts of things they’d like the economic development department work on for the east end of the core — essentially the stretch of King Street from Frederick to Cameron streets.

Limes scattered about

The City of Waterloo launched the pilot project at the beginning of October and it runs until the end of November. It resumes once again from April 1 to Sept. 30, 2019. Despite efforts to keep Lime electric scooters contained to a specified pilot project test area, the bright green mobility devices have routinely been spotted outside that zone.

Strong Kitchener-Waterloo marker home sales in October

  • 514 homes were sold in October, an increase of 7.8 per cent compared to October of last year.
  • 5,070 residential units have been sold this year compared to 5,822 during the same period in 2017, a decrease of 12.9 per cent.
  • The average sale price of all residential properties sold in October increased 7.7 per cent to $489,725 compared to the same month a year ago.
  • 760 residential properties were listed for sale in K-W and area in last month, a 14 per cent increase compared to October of last year, and 12.7 per cent above the historical ten-year average of 674. The number of active residential listings on the KWAR’s MLS® System to the end of October totalled 1,014, which is 21 per cent higher than October of last year but still 461 units fewer than the previous ten-year average of 1,475 listings for October.

Read all the stats here

Should I buy now or should I wait till spring?

Now that we are into November, many people are asking me, “Should I buy now or should I wait till spring?” I always say the best time to buy real estate is yesterday and the next best time to buy is today. That means “at some time in the future” is the third and final best time buy, right? 

Why are you selling? 

It does not matter what you say. It matters what the buyers hear. Seller’s agents never want sellers and buyers to meet. If it happens just remember, the best answer goes something like: “We love the house, but we’re ready for a change”.

Top Startups list

California-based Y Combinator has put together a list of 101 top alumni based on valuation as of October 2018, and several Canadian companies made the list. The companies include North (formerly Thalmic, which just confirmed pricing and availability for its smart glasses) in 29th and video platform Vidyard in 43rd. 

Canada’s most dangerous places 2019

Explore Canada’s and Kitchener-Waterloo’s crime data with this in-depth interactive tool

Sin City! Pictures of Las Vegas 1906-1971

For a loser, Vegas is the meanest town on earth. 

– Hunter S Thompson

A look ahead (already)

I know. I know. It’s only early November and already I’m looking back and now looking ahead. But that’s the way my world is. I’m like a farmer. The crops are in. The barns are full and I’m getting ready for a short winter slumber. I will putter around the barn, fix up the equipment, take a couple of short holidays, go to the gym more often…get ready one more time again for the next real estate cycle. 2019. Wow already (almost). I predict next year will be a lot like this one, at least that’s what I’m planning for. 

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