September 6 2017
Kitchener Waterloo Real Estate News Update
September 6 2017. In Today’s news: airbnb ratings, buying a condo, a buyer’s market, relocating tech workers, the real estate stand off, home equity.
Closer to the centre
European cities mapped from guests’ airbnb ratings. Looks like a real correlation between centrality and satisfaction.
Five questions to ask when buying a condo
Whether you’re going to live in the condo or use it as a rental property this is something you will need to know. #5 What is the percentage of owners to renters?
What is a Buyer’s Market, really?
Due to the market being in this “active” adjustment period, there is still room for further pricing correction, especially because government bond yields have gone up, which also means the stress-test rate has increased, as well as the prime rate.
Current stress test rate: 4.84 per cent
Current: Bank of Canada (BoC) rate 2.95 per cent
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Canada is top choice for tech workers relocating due to Trump’s presidency.
A report from Hired has found that US President Donald Trump’s administration has created an environment of uncertainty and discomfort for tech workers in the USA. The report indicated that nearly one-third (32 percent) of survey respondents said that Canada is their top choice to relocate to, followed by Germany (12 percent), Asia (10 percent), and Australia (10 percent).
The real estate market is drowsy and buyers and sellers are anxious to know what will happen when it comes back to full consciousness in September. The expected swell of listings in the fall may not be as dramatic as the surge in the spring.
You’re richer than you think
The sharp appreciation in home prices in Ontario and British Columbia fuelled by extremely accommodative monetary policy have encouraged homeowners to tap into their home equity in order to support a spending binge. On average, the outstanding balance on Canadian home equity lines of credit is $70,000, and overall the loans account for about 45 per cent of consumer credit.
Four tall towers proposed on Courtland Avenue concern residents
The large swath of land at the corner of Block Line and Courtland has been empty for years. But a proposal to build a set of four tall apartment towers with up to 38 storeys each on Courtland Avenue has some area residents worried.
Families cheer as Chicopee school opens
The $13-million school at Fairway Road North and Lackner Boulevard was originally set to open in September 2014. Planning challenges delayed it by three years.
Too far to walk
Snowbirds looking to escape the winter weather will have to travel outside the region for flights down south. WestJet cancels flights to Orlando