It is vitally important that you understand the paperwork that you are signing when meeting with your lawyer prior to closing. Click on the video link to hear why.
So you have found the right house…. now its offer time, but what price to offer. Here is where a Realtor can help. Knowing what fair market value of a home is extremely important in determining what to offer on the home of your dreams. You don’t want to overpay for something based on emotion. Watch the video to hear my thoughts on why this is an important consideration in your next home purchase.
Today marks the start of Go Train service from Kitchener to Toronto. This give commuters another option when it comes to travelling to and from Toronto.
Initially, the service will see two trains leave the Kitchener station every weekday morning, while two trains will return from Union Station in the afternoon.
The first train leaves Kitchener at 5:52 a.m., stops in Guelph, then times remain the same between Georgetown and Union Station. The existing weekday westbound 5:45 p.m. train from Union will now get to Georgetown at 6:46 p.m., Guelph at 7:18 p.m. and Kitchener at 7:42 p.m.
Waterloo Region house sales gained momentum in October
WATERLOO REGION — House sales in Waterloo Region picked up steam in October, with the real estate boards in Kitchener and Waterloo, and Cambridge both reporting marked increases in the number sales compared to a year earlier.
Prices, meanwhile, remained stable, with slight year-over-year.
In Kitchener and Waterloo, the 470 residential sales in October represented a 4.9 per cent increase over the 448 sales in the same month last year.
The average price for all residential properties that sold in the Kitchener and Waterloo area was $304,379, up 0.7 per cent from a year earlier. Single-detached homes sold for an average of $332,358, up 0.9 per cent from the same month last year.
In Cambridge, 217 residential units were sold in October, up 8.5 per cent from the 200 homes that sold in the same month last year. The average price of all residential properties was $284,515, a 2.2 per cent increase compared to last October.
On a year-over-year basis, 5,574 residential units have sold in the Kitchener and Waterloo area in the first 10 months of the year, down two per cent. In Cambridge, 2,488 homes have changed hands so far this year, up 6.6 per cent from last year.
In the region as a whole, 8,062 residential units were sold in the first 10 months of the year. That represents an increase of about 1.9 per cent compared to the same period in 2010.
The strong sales in October point to a stable housing market in the area, said George Patton, president of the Kitchener-Waterloo Association of Realtors.
“Although all marketplaces are subject to month to month fluctuations, it is obvious that we have a strong, stable market in our region,” he said in a news release. “People have confidence in investing in the housing market in this area.
I had a great conversation the other night with a couple thinking of selling their house. The topic of finishing a basement or putting on a deck came up and whether or not it makes financial sense to do those things to expediate the sale and get a greater sale price. Have a look at the video to hear my thoughts…
Yesterday I spoke with a friend of mine at 375 King street N, Waterloo and he was telling me about the board of his building trying to change the policies and making it student free. They still have to get 80% of the unit owners to agree but have a look at the video and hear some thoughts on why its important to read the condo documents before you buy
If you have been looking for a new condo make sure that you get a status certificate on the building and have your lawyer do a good look through of the documents… Watch the video to hear my thoughts as to why.
$200,000 granted to Options for Homes for first-of-its-kind home ownership assistance in Kitchener
Funding available for residents looking to make a new start in the New Year
(Kitchener, January xx, 2011) For many, the purchase of a new home is the single largest financial decision made in one’s lifetime. This is especially true for first-time buyers.
At such a time, it is easy to let excitement cloud the magnitude of costs that go into purchasing a home. Taking the next step into home ownership can seem overwhelming when considering a mortgage and/or condo fees, not to mention saving for the initial down payment.
Options for Homes is proud to announce that it has secured access to $200,000 loan financing to assist individuals looking to purchase their first home. The loans are provided by Home Ownership Alternatives Non-Profit Corporation, a mortgage brokerage licensed with the province. This is the first time in Kitchener that such a program has been offered.
Up to $10,000 per applicant is available in a loan to use towards the required down payment of a new property. The loan requires no payments until the unit is re-sold sometime in the future.
The program does not provide 100% of the required down payment. Successful applicants must have some personal funds to contribute to the initial purchase. For example, a prospective home buyer can approach Options for Homes with a as little as a $1000 down payment and apply to the fund to secure the balance of the 5% required.
“With 80% of Tanglewood purchasers being first-time buyers, there is a need to support individuals to make home ownership possible,” says Jan Ciuciura of Options for Homes. “We have found that mortgage payments are not the largest deterrent in the decision to buy, but rather saving for the initial down payments. Thanks to Home Ownership Alternatives, we now have a tool that works to help first-time buyers to make their dreams come true.”
The loans are available to be used at Options for Homes’ 120 units Tanglewood Condominium project, located in the community of Laurentian Hills in the southwest corner of Kitchener. These multi-generation units, ranging from Bachelor to Three Bedroom apartments, cost between $120,000 and $260,000.
If you are thinking of investing in the booming condo market here in Kitchener-Waterloo, one building you need to check out is the Tanglewood Condo building slated for construction summer of 2011. With presales underway the lift potentail of this building has lots of advantages for both investors and residential buyers alike.
With prices starting at $119,900 for a bachelor this open concept floor plan gives that loft stlye flavour that so many buyers are looking for. If you enjoy travelling the bachelor would give you a place to call home while you are here.
For as little as $100 to reserve your unit, tanglewood can get you into home ownership for a very affordable price.
One unique concept is the builder boost option that can increase your down payment by up to 10%. This option is a equity only option meaning that it only has to be paid back when you go to sell your unit in the future. This way a first time condo buyer can reduce the CMHC fee’s and enjoy equity appreciation while building a nest egg for their future.
For more information on Tanglewood Condo in Kitchener, feel free to give me a call at 519-579-4110 or email direct to baker_kevin@rogers.com for more information and sales center hours.
I just listed the Tanglewood Condo in Kitchener. The Tanglewood features owners with the opportunity of getting in on the ground floor with pre-construction pricing and also with a unique Down payment boosting option through the Options for Homes Company.
Have a look at the video explaining the opportunites that Tanglewood Condo in Kitchener and Options for Homes can offer you.
The first train leaves Kitchener at 5:52 a.m., stops in Guelph, then times remain the same between Georgetown and Union Station. The existing weekday westbound 5:45 p.m. train from Union will now get to Georgetown at 6:46 p.m., Guelph at 7:18 p.m. and Kitchener at 7:42 p.m.
KW Real Estate Life 