Monday, December 5, 2011

November Stats

Here's the link to the media release of the November 2011 Statistics for Kitchener-Waterloo.
http://www.kwar.ca/stats/November_2011_Media_Release.pdf

Housing in KW continues to be a relatively good investment considering the world economy.

Funny story of the month was 3 yr old A, who apparently thinks the spare bedroom in her new home is for Grandma and myself! I told her I would visit but not sure how my own family would feel about me moving in! Sorry, I wasn't a chattel that was included on that purchase of agreement and sale! :)

The fall market is winding down for the holidays. If you're in my customer care search system don't be surprised if you see a decreased number of new listings coming up over the next month or so. Not a lot of new listings, but plenty of reduced listings and deals to be had for those who don't mind a little work. Email me if you're interested in seeing what might suit you!

Wednesday, November 23, 2011

Wonderful Clients!

My theory is that noone should ever hire a Realtor without references, so I ask my clients if they have a few moments to write a few words about their experience with me. Some write a sentence or two and some send me a totally awesome letter of reference I can use with new clients. Thank you so much, Jeff and Tracy! Working with great people like you is why I LOVE my job!


"Letter of Reference
Re: Krista Jonker



To whom it may concern,


When Tracy and I decided to get serious about selling our house, we initially set ourselves to finding a real estate agent that we felt was a good negotiator, knowledgeable and above all – was someone we could really trust.

After we met and spoke with Krista Jonker, we felt we had found a representative with the personal qualities and professional qualifications we were looking for in an agent. Indeed, we were not disappointed, but rather our expectations were far exceeded.

Krista did an excellent job listening and discerning our ‘needs’ and ‘wants’ regarding a new house. We truly felt she gave us sound advice and steered us away from several pitfalls or potential mistakes along the way. She was very thorough with her research, giving us solid market evaluations both for our purchase and sale. Also, we found that she paid great attention to detail with all the paperwork and did a great job negotiating on our behalf.

We really can’t say enough when it comes to how happy we were with the service that we received from Krista. If you are looking for help with real estate matters and want someone who is trustworthy with a true heart to serve others, then we would highly recommend Krista Jonker.


Jeff & Tracy D"

Monday, November 14, 2011

October Stats

http://www.kwar.ca/october-residential-sales-up/

Good news in October. KW continues to have a stable real estate market. Prices up marginally. With low interest rates, it's a good time to buy!

Recently my family and I were able to visit Disney World. What fun! The care that they take in making the entire experience a joy for families, is what makes it completely worth the money. The rides aren't any bigger or more thrilling than anywhere else, but the experience along the way just makes the entire trip more fun.

In real estate, the titles we are allowed to call ourselves are limited. "Sales representative" is one of the terms most of us use. I have a beef with this term though. Much like Disney I think of myself more as a customer service specialist than a sales representative. My job is not just to sell you a house. Anyone can do that! My job is to work with you to make sure your needs are met all along the way. It's those details that make the experience enjoyable and a whole lot less scary than it needs to be. I've been known to arrange babysitting for out of town buyers with kids so that they can view the homes while their little ones are taken care of. I've been known to develop my own clauses in offers to best protect my clients. I've been known to pull out the cleaning supplies and clean a bathroom before an open house to make sure the property is showing it's best. Last sunday, my hubby and I raked a lawn full of leaves at a vacant property so the elderly couple doesn't have to worry about it. I work hard for my clients in doing what I can to help them get to their goal. So, "sales representative", although the term we're supposed to use, just doesn't do justice to the job I actually do. I promise to strive to give you the "Disney experience" during your real estate buying/selling experience. I won't promise it will be quite as much fun as Disney.....but I'll try! :)

That's my blog rant for the day.

If you are thinking of buying or selling a property in the next year please contact me now! It's never too early to start working together to get you set up for the right time. Pop me an email!

Saturday, October 29, 2011

September Stats

http://www.kwar.ca/condominium-sales-remain-strong-in-k-w/

The news from Septembers statistics for Kitchener-Waterloo was that property prices continue to increase, in particular in the Condo market. The Canadian Real Estate Association reported that intereste rates continue to remain low. http://creanews.ca/ . Great news for those looking to increase the amount they're borrowing to purchase properties.

This month was a busy month. J&T were able to find their next dream house, an immaculate newer home with gorgeous hardwood floors. We were able to sell their present home in less than a week thus ensuring they didn't lose out on their new home. So, happy for them. C&H got possession of their new digs this month and although a smaller home will be an adjustment they're looking forward to cross-country skiing steps away from their new home. K's property sold just days after staging it and relisting. Amazing what a little paint and new flooring can do! S&B's home sold in less than a week to a buyer eager to move close to Uptown Waterloo which continues to be a desirable neighbourhood.

I've also been working with a great Mortgage Specialist Claire Cochrane from RBC on getting some materials together for my clients. She worked out a great spread sheet for my clients to easily reference how the cost of homes translates into monthly payments. Interested? Ask me for one!

Upcoming, I'm working with a few families getting their properties ready to list and looking for a great 4 bedroom home in Beechwood, Northlake, or Colonial Acres. Another buyer looking for a bungalow in uptown Waterloo and also looking for a semi in the Northlake area.

Lots in the works. I also received this great reference from another happy client: "It was truly a wonderful experience. Krista combines the correct amount of knowledge of the market and vision of your home to attract the correct purchaser in the quickest amount of time. Krista brings with her both the intelligence and diplomacy needed to get a deal closed."

Any questions? or ideas for topics for this blog? Drop me a line! Krista@kristajonker.com

Wednesday, September 14, 2011

August Stats and Fall Outlook

Here is the link for the August stats:
http://www.kwar.ca/august-home-sales-up-from-last-year/

Fall is here. The kiddies are back to school and the world is regimented back in routine. Blech! At least the sun is shining, at least for today!

The summer concluded with house prices up a little bit even though the overall number of transactions was down a little bit. Pretty steady.

The fall outlook continues to be good. I got word this morning that ScotiaBank lowered their interest rates yesterday. There appears to be a slight advantage to the buyers right now with a few more listings on the market than buyers. It's a great time to get into the market for those reasons.

Certainly, the uncertainty of companies like RIM in Waterloo and the overall world economy (in the US and Europe) should be in the back of everyone's mind when making buying or selling decisions for your own family. But generally, the economy in Canada continues to hold it's own and certainly presently Kitchener-Waterloo is still a great place to invest in real estate.

I spent the last two days updating my data base and was overwhelmed with thankfulness. It was a great reminder of some of the great people I have had the pleasure of working with in the past and also the number of those people who trusted me enough to refer their friends and family to me. So blessed.

I take this trust seriously and work hard to be sure I exceed the expectations of my clients.
Thanks!

Thursday, August 25, 2011

July Stats and Fall Ramp up

After such an enjoyable summer of great weather it's hard to wrap my mind around fall being just around the corner! Almost time for routine to return and the kiddies to head back to school.
The fall also brings the second busiest time of year in the real estate market. Sept/Oct bring an influx of new listings and buyers wanting to move before the snow flies. (ugh. Snow.).

The summer has been a great one for referrals for me with great clients and friends passing my name along to their friends and family who are thinking of moving. Thanks to KF, R&TS, L&SS, A&LC, and...ahem...my folks... for trusting me enough to pass my name along recently.

If you're looking for something to buy this fall I've got a great bungalow in a family neighbourhood but close to amenities listed for $299,900. Ideal for investors, parents of students heading off to university, families, or empty nesters.
In the future I have clients who may be selling a great raised bungalow in Cambridge backing onto a park, a newer semi-detached home in Waterloo in a great family neighbourhood or a move-in ready bungalow perfect for a family or empty nesters.

If you're looking to sell this fall I have buyers looking for a bungalow in Uptown Waterloo with a good setup for entertaining, a family home in Kitchener with good access to the 401 and a great yard, and a bungalow condo at a reasonable price and a 4 bedroom home in Waterloo in a mature neighbourhood with a good setup for entertaining. Anything sound like it might be a match for you or someone you know? Let me know!

Cute story from one of my clients. P&P's 3 yr old daughter has been a little confused. Everytime they come to see a house they tell her "let's go see Krista!". Poor little one has no clue anymore where I live! lol. She thinks each house she "visits" me at is my house! Love it! What a doll.

In conclusion, here's the link to the July stats for KW. Despite some hiccups in the economy recently (internationally as well as locally-RIM) the housing market continues to be strong and housing starts seem to indicate we'll have a steady housing market into the fall.
http://www.kwar.ca/steady-sailing-for-kw-home-sales/

Any questions or comments? Feel free to email me or leave me a message here! Thanks!
Krista

Wednesday, July 13, 2011

June Stats and 189 Carter Av. Waterloo



Summer is finally here and in full swing. The June statistics for the Kitchener Waterloo area are out and our market continues to be strong, despite the odd blip in RIM stocks! :)

Here's the link: http://www.kwar.ca/k-w-home-sales-up-for-second-month-in-a-row/


I listed 189 Carter last week. It's a well-built brick bungalow just steps away from Moses Springer Park. It's listed at $299,900. Here is the MLS Link http://www.realtor.ca/propertyDetails.aspx?propertyId=10863240&PidKey=1214428625 To view or for more information please contact me.

Last week I was able to go to a breakfast seminar put on by Manulife One. Great product for sure with a lot of potential for clients. Essentially it's a way of consolidating all of your debt into one account, including your mortgage. As your paychecks go in they directly lower the amount of your principal thus working off your debt faster.

http://www2.manulifeone.ca/ Let me know if you're interested in finding out more and I can put you in touch with a rep from Manulife.

This is often the time of year people think about getting ready for buying or selling in the fall. If that's you, please pop me an email!

Wednesday, June 22, 2011

Celebrations and Family Law

Last week I attended a course on Family law put on by two local lawyers. They had some great information on some of the latest judicial decisions coming down the pipes affecting various real estates transactions. Thinking about living common-law with someone and purchasing a house together? Be sure to protect yourselves with a co-habitation agreement. Seperating? Be sure to have the seperation agreement in place before making any major decisions about real estate. Obviously the lawyers are a little biased, but the key is to seek the advice of the lawyers early in the process to avoid needing much more of their services later on!

The pic is of first time home-buyer's L and D....so excited to move into their new digs in about a month. Nothing like plastic wine glasses and sparkling grape juice to celebrate! :)

This week I've been busy following up on some market evaluations and brushing up on the new City of Waterloo rental housing bylaw. The new bylaw has proven to be quite the nightmare already for some. It's been hard to get anyone from the city to give any answers on present licensing and even harder for clear answers on the bylaw set to come into effect April 2012. Generally though it's going to cost landlords more money, IF they can even get the licenses. Lots of bugs to work out and certainly not a pleasant thing to deal with for landlords in the city. The demand for investment properties in Waterloo has been rumoured to have gone down by about 30%....yikes! And if you've ever wanted to purchase an entire street, now is the time as an entire street in Northdale will be putting their homes up by auction because of the new bylaw. Tighter rental housing bylaws and licenses are certainly a positive thing, especially in neighbourhoods, like Northdale where students are everywhere, but this particular bylaw leaves landlords wondering how much more they will have to pay in inspections and licenses IF they can even get the license. The bylaw has limits on the number of people, limits on the amount of bedrooms in comparison to living space, and limits on proximity to other licensed properties. It will be interesting to see how it all plays out.

Any questions as to how this may affect your rental property, pop me an email at krista@kristajonker.com

Tuesday, June 7, 2011

May 2011 Stats

May Stats http://www.kwar.ca/spring-market-finally-arrives/

A slower start to the spring market has now arrived and in full swing. Hopefully, with it's late start maybe it will stick around a little longer!

This week I've been busy with a couple of market evaluations. V&C had me into their beautiful home to to an evaluation and I was able to meet with K(a referral) to chat with one of her properties and give some suggestions as to how to get it ready to sell. C&H firmed up on their fantastic bungalow in Northlake and are looking forward to being close to the market and Laurel Creek.

Yesterday I went to a course on environmental concerns. Although there was a commercial spin to much of what what taught there were certainly some nuggets I took away from to keep in mind in residential sales. The sins of our past have a lasting effect on our environment and it's certainly important to be able to recognize the signs of issues for concern. Underground oil tanks, asbestos, radon gas, methane, contaminated groundwater are all things that are good to be aware off when purchasing properties that may be at risk for these items.

I've got a few buyers looking for the perfect property, maybe you can help out with! :)
I have buyers looking for a great lot in Waterloo to build a dream house, buyers looking for a 4 bedroom home in Waterloo, buyers looking for an older home in the East Ward of downtown Kitchener, a bungalow in Uptown Waterloo, and another buyer looking for a bungalow on a great greenspace property. If you think you might have or know of a home that might be appropriate for one of my buyers let me know!

If you're looking for a property I may have one coming up that might be right for you! How about a 4 bedroom home in Waterloo in an affordable price range? or a luxurious bungalow in Laurelwood? or a spacious starter home in East Ward of downtown Waterloo? How about a backsplit in Country Hills? or a raised bungalow in East Ward? or a backsplit in Northlake? or a rental property in Waterloo with or without the tenants?

I've often got a few things up my sleeve, if you're thinking of buying or selling I may have some ideas for you!

Tuesday, May 24, 2011

April Stats and Spring Update aka....RAIN!


April KW Stats-click here

Spring has been anything but sunny for most of us. April showers seems to have just brought May showers! The spring market got off to a bit of a slower start, largely due to the rain, Federal election, and yes, even William and Kate seemed to distract buyers and sellers.

Although the market has been a tad slower it's still plugging along and certainly I've been busy with market evaluations, listing, and buyers looking for their next property. L&D purchased their first home and looking forward to moving their company out of the city. C&R moved into their new home this month and are enjoying being together as a famiy again after a tranfer to our city. Uptown Waterloo has been anything BUT slow and with a carefully thought out strategy using pricing, timing, an open house and advertising I was able to sell my listing in Uptown Waterloo for over list price with multiple offers. Many a buyer are disappointed they missed out on that cutie of a house!


A couple of conversations this weekend (one out on the deck enjoying the sun we finally had!!!) made me aware of the need to put out a few reminders to everyone.
First, Grading. Proper grading is the number one thing you can do to your properties to avoid water problems. Each spring get some top soil and put it around the perimiter of your home to ensure you have a grade that will take water away from your foundation. Clean out your eaves and downspouts, making sure they are extended away from the foundation of your home. These things alone can help you avoid a wet basement. If the water stays close to your foundation it's only a matter of time before it finds a place to seep in. No foundation is without cracks and even the smallest of crack can become a problem if the water is heading in that direction. A dear friend said, "you should put that on your blog"! So, here it is! :)

The next thing I wanted to remind people is that if you're thinking of moving call me sooner rather than later! Don't worry about bothering me when you're not quite ready! All too often people wait, not realizing there are many things that I can help with that will make things easier later in the process. It may be that you need a market evaluatioin so you have an accurate idea of what your home may be worth. Sometimes I can help you make the right renovation choices months beforehand which may help you make the best choices for resale. And sometimes it's a matter of making sure all your ducks in order so you'll be ready. Let me help with those ducks. I order them all the time! It's my job. It's never to early or a waste of time to meet with me to discuss your future plans.

Thanks to A&T, D&B, and H&M for the great referrals this Spring! I certainly appreciate you trusing me to refer to your friends!

If you or someone you know have any real estate needs, please don't hesitate to contact me!
Thanks!
Krista

Thursday, May 19, 2011

Renovations for the Future

Here's an article I recently wrote for the University Downs Neighbourhood Association Newsletter. Enjoy!

Renovations for the Future

As a Realtor© people often ask my advice on their renovation decisions. Recently a friend asked my advice on whether or not to renovate her main bathroom from a shower/tub combination to only a shower. The quick answer would be “NOOOOOOO” since most people would want a shower and a tub in their main bathroom. But this question is not as simple as it sounds.

How does one know what to consider when making future renovation choices? Should you use the lovely green ceramic tile you love, but others may not? Or should you keep everything boring neutrals?

Here are some renovation tips.

1) Keep big ticket items neutral. Items like carpets, countertops although fun to match with your own personal style really are better neutral. Not just for future buyers, but also for 5 years down the road when you don’t enjoy teal green quite as much as you used to. If you want to get that shot of colour to personalize your home use paint and accessories which are much easier and cheaper to change as time passes and styles change.

2) Consider future buyers. If you’re thinking of selling in the next few years be sure to take those future buyers into consideration. Neutrals may be boring to you, but not to the majority so stick with them if you think there’s a chance you’ll want to be appealing to buyers in the not so distant future.

3) Consider your own personal needs. If you’re making renovations in your “forever home” then make decisions in a way that makes you happy! The need to think of resale value diminishes. It’s hard to predict what buyers 30 years down the road will be looking for and realistically some of those renovations may be ready to be redone again in 30 years! For my friend, a beautiful tile and glass shower better fits the needs of her family. Since she’s living in her “forever home” I told her to go for it and not worry about resale value. Who knows, maybe 30 years down the road bath tubs will be passé!

3) Don’t let your renovation “to do” list get too long. Homes in the University Downs neighbourhood are not new anymore. Plug away at keeping things updated or before you know it you’ll have a home in need of major updates that may just become too daunting for your budget or your family handyperson.

4) Pick one room at a time for the biggest impact. Instead of doing little jobs in numerous rooms, pick one room and get it to a point where you can enjoy it. A few years back we did this to our living room. We made a budget and put most of the money into bamboo flooring, a cream shag carpet, custom bookshelves, and a new sofa. Some inexpensive Costco chairs, and some family artwork made with the kids, framed and hung on the wall finished the look. It quickly became our favourite room, feeling like it was the one room that was “finished”.

5) Don’t wait until just before the sign goes on the lawn! So many times I see my clients do many pesky little renovation jobs in order to sell their house. Things that bothered them the entire time they’ve lived in the home finally get done, only to be enjoyed by the new owners! Recently my husband and I decided that time was just not allowing us to finish off some of those pesky jobs in our own house. We called up a wonderful “jack-of-all-trades” I know, and put him to work. We’re now enjoying the trim finally put up the basement, the neutral countertop in the main bathroom (good-bye baby blue!), and the caulking redone around our patio door. Well worth the money spent!

If you’re thinking of doing home renovations and want some tips don’t hesitate to email me at krista@jonkerteam.com . I know wonderful tradespeople I can refer to you and help you avoid the risk of the yellow pages. Whether you’re thinking of selling 6 months or 60 years from now I’m happy to be of help to you

Wednesday, April 6, 2011

Babies, Renos, Decks and Swimming Pools

The title pretty much sums up the last few weeks for me.

I had the pleasure of catching up with a few clients recently. H&R moved into their new digs in December and now welcomed Baby H to their family. I very much enjoyed an afternoon snuggling with Baby H and catching up with his lovely mommy. One of the joys of this job for sure! :) I met Mom and Dad at an open house 4 years ago, helped them purchase their first home and then more recently helped them sell that one and purchase the next one which has plenty of room for Baby H and whichever siblings come down the road. :)

B&S moved into their new home in Jan (also 2nd time clients) and will be welcoming their new baby girl into their new home anytime now. I quite enjoyed the baby shower for S at another client's home. Thanks M for hosting! Can't wait to hear when little one arrives!

Last week I also got to catch up with clients W&K and Z&C. Cool experience to go back to a dated home, with the old owners and see how the new owners have spruced things up. Z&C have done a fantastic job refacing the kitchen cabinets, putting in new flooring, and renovating the bathroom to include a beautiful soaker tub. Great to catch up with you all!

Yesterday I finished up the last of my courses for this registration period. This month I celebrate 4 years as a Realtor (5 1/2 in the business). It's flown by! So cool to have previous clients returning and sending more and more referrals my way. Thank you!!!

The course I took yesterday highlighted some of the concerns around decks and swimming pools. Key things to note.....permits, permits, permits. Much easier to get before you start building that deck than afterwards. If you build a deck without a permit you can be fined so always better to check with the city before building. Swimming pools offer so much fun for family and friends, but be sure if you have one, to check out some of the various safety mechanisms for keeping little ones out.

This month I'll be continuing to work with clients P&P, L&D, C&H, K, and K&D on finding them the perfect home. If you have a home you're thinking of selling please let me know! It may just be the perfect match with one of my buyers!

It's never too early to have me come by to do an evaluation on your home. Better to know how sellable your property is and for what price before you start looking! Give me a call anytime!

Don't forget to search my name for my real estate page on Facebook. Click "LIKE" and be kept up to date on a variety of Kitchener Waterloo Real Estate news.
Thanks for reading!
Krista

Tuesday, April 5, 2011

March Stats from KW Association of Realtors

Here the latest stats from the Kitchener Waterloo Association of Realtors, previously known as the Kitchener Waterloo Real Estate Board.


KW MARCH STATS

Looks like the market continutes to be strong and stable. Not as nutty as last year (ok, so NUTTY isn`t an official term!), so the number of sales is down, but the prices continue to increase in comparison to last year at the same time.

These numbers are indicators, but individual homes should be evaluated by a Realtor (ahem...preferrably me!) to give you a true sense of the value of your home.

If you`re thinking of selling or just curious about the value of your home, pop me an email!

Tuesday, March 29, 2011

Kitchener Green Housing Incentive Program

This morning I had the pleasure of listening to a great seminar put on by CREW (Community Renewable Energy Waterloo) and the City of Kitchener discussing the benefits of the KGHIP (Kitchener Green Housing Incentive Program).

It's an incentive program designed to encourage builders and consumers to build high performance green homes.

Builders may be interested as a great program they can offer consumers as a way to get paid for making greener choices. Consumers are recognizing the importance of being greener and many will chose greener choices over other choices, even when it costs more.

Basically the City of Kitchener will pay you to build your new home as a LEED home. LEED is a third party company that will assess the home you've built and give you ratings based on it's eco-friendliness. The City of Kitchener then gives you cash incentives based on those ratings.

Note that an Energy Star home is not included in the incentive program since after 2012 every home built will HAVE to be a minimum of an Energy Star Home. That's good news for our environment!

If you're thinking of building a new home in Kitchener, it's worth asking about the KGHIP.

Essentially for approximately a coffee a day you can get PAID to build an Energystar home. If you were to give that coffee a day back to the builder you could build a LEED home for free. If you were willing to give up a coffee or two a day that would be about the cost of building a LEED Platinum home.

Great job, Kitchener! Our environment thanks you for putting this as a priority! If you're building a new home in Kitchener, why WOULDN'T you take advantage of this program?

Any questions at all pop me an email! krista@jonkerteam.com

Here are a few websites you may find interesting:

LEED
CREW
CITY OF KITCHENER KGHIP

Tuesday, March 8, 2011

Reference from happy buyers

Buyers sent me this glowing reference.....I love working with great people!

"When we decided to relocate from Ottawa to Kitchener-Waterloo, we asked our selling agent to refer us to a high-calibre agent in the KW area. After doing some research, she introduced us to Krista. Even though we were still preparing our home in Ottawa for market, Krista made a point of communicating frequently with us, and met with my husband to understand what type of home we were looking for. Krista set us up with an MLS alert and was very responsive (and patient!) as we changed our minds over and over about our requirements. When we travelled to KW on a house-buying trip, Krista had all the bases covered for us, right down to ensuring our kids were entertained while we were out viewing homes. Krista sourced a wide range of properties for us to view and, as we were unfamiliar with the area, provided us with candid advice on various neighbourhoods, locations, schools and amenities. Once we found the right property for us, Krista worked quickly and under difficult circumstances to ensure that our offer was accepted. She helped us organize a home inspection and kept on top of all the details. We are now waiting for our closing date to move in, and Krista is continuing to offer support to help make our move a successful one. Working with Krista was a very pleasant and positive experience. She is always friendly, receptive, responsive and ready to help. We highly recommend her to anyone relocating to the KW area." C&R, Stittsville, ON

Monday, March 7, 2011

January and February Stats

Here is the market update for the first part of 2011. Decreased number of sales, but prices staying pretty steady. Last February was significantly higher than normal, this February more "normal".
http://www.kwreb.on.ca/january-home-sales-return-to-normal-levels-in-kitchener-waterloo/
http://www.kwreb.on.ca/Stats/February_2011_Media_Release.pdf

One thing the stats don't always show are the overall climate. This last month there were quite a few multiple offer situations in KW. There seems to be more buyers out there than listings indicating a slight seller's market. If that continues, that can sometimes drive prices up a bit more. Sometimes the spring listings will catch up and it will even out a bit.

This month I've been keeping busy with market evaluations for clients looking to sell in the near or not so near future. Some looking to downsize, and some looking to upsize. I was also able to help C&R secure a new home for their family. After a few attempts we were able to find them an underpriced home on a beautiful greenspace lot and we were even able to avoid multiple offers! Worth the wait!

The sun is shining today and melting the snow. Gives me opportunity to remind you to take a walk around your property and be sure the melting snow is heading in a direction away from your house. Noone wants to discover the cracks in their foundation the hard way, with water in the basement!

Enjoy the sun!

Wednesday, January 19, 2011

Tighter Mortgage Rules

Monday, Canada's finance minister announced new tighter mortgage rules that will take effect March 18th.
The rules in a nutshell:
1)CMHC will no longer insure morgages amortized more than 30 years (from 35).
2) The maximum amount that can be refinanced will be 85% (From 90) of the value of the property.
3)CMHC will no longer insure home equity lines of credit.

These new rules are aimed to promote saving through home ownership and discourage debt, hoping Candians will pay off mortgages quicker and thus pay less total interest.

The message here folks is not to overextend yourself in debt!

Any questions? Let me know! :)

Thursday, January 13, 2011

2011

To begin this year I'd like to look at the past year. 2010 was a great year for the Kitchener Waterloo real estate market. The spring was, as I like to refer to it as, NUTTY! Many buyers purchased in hopes of avoiding the predictions of rising interest rates, tighter mortgage rules, and the introduction of the HST in July. As a result, prices were driven up and many first-time home buyers got into the market. The fall market finished off the year, still strong and holding onto the increased prices. As a result, single-detached house prices ended 2010 at an average of 9.3% over the previous year.
http://www.kwreb.on.ca/Stats/December_2010_Media_Release.pdf

2011 began with a few out-of-town referrals so I thought I'd say a few words on this. Moving to a new city can be a scary process that I can certainly help with. If you or someone you know is moving to a new city give me a call! If it's in the KW area I'm happy to welcome them to the city (whether they're purchasing a home or not) and be a contact for them for information and referrals about the Kitchener-Waterloo area. Over the holidays a lovely agent from the Ottawa area called me up to interview me for clients she has who were selling their home and moving for a new job in Waterloo. We had a great 45 min. chat on the phone and I was able to answer some pretty pointed questions about how I work with my clients. The agent interviewed a few more agents and called me back to let me know she wanted to refer her clients to me. C&R will be listing their home with her out Ottawa way, and I was able to meet R this week to chat about how we can find his family a fantastic new home in Waterloo. Another agent I know from Brantford also called me up last week to pass along the name of a client selling in Waterloo and moving to Paris. I look forward to possibly being able to connect with him as well. I always appreciate it when other agents entrust me with their clients and I take the responsibility seriously.

Likewise, sometimes I have people contact me wondering if I have an agent recommendation for another city and I'm always happy to help! I have many contacts for agents in other cities and if I don't, I have other agents I ask, and similar to the agent from Ottawa who called me, I also am willing to call other agents to interview them to decide who to refer people too. So, don't hesitate to call or email me if you're looking for some referrals to agents in other cities. I know some great people out there!

As we look to 2011 if you're thinking that selling or purchasing a property may be something you'll be looking into please don't hesitate to pop me an email or give me a call....sooner rather than later! Don't feel like you have to have all of your ducks in order! I have a few clients out there who I know are thinking of selling this year who I have already met with and given tips on getting their properties ready. Giving me the heads up also gives me the opportunity to keep an eye on comparable properties for you so we can keep tabs on properties that may affect the price you get for your property when you sell. So keep me posted!

Thanks to Cathy and Jeff for trusting me this month to refer me! And thanks to you all for reading! Any questions or suggestions as far as topics for this blog are always welcomed!

Wishing everyone a joy, health, and happiness - filled 2011!