Mortgage Down Payment – It Might Be Easier Than You Think
For many first-time homebuyers, saving the 5 per cent downpayment is one of the big obstacles to home ownership, especially if you’re paying rent, paying down student loans, and trying to live a life. Here are some programs and tips that can give your downpayment a boost – to get you into your home faster:
- The federal Home Buyers’ Program (HBP) lets first-time homebuyers withdraw up to $25,000 each (or $50,000 for a couple) tax-free from their RRSPs. You’ll need to pay those funds back, of course, on a repayment plan.
- A financial gift from a parent or blood relative can be used as a downpayment. You’ll need to document in writing that the funds are a gift and that you are not required to pay the money back at any time.
- A parent or grandparent could also provide a loan with a modest interest rate and reasonable expectations for loan repayment. Or you could look at borrowing the downpayment through a loan or unsecured line of credit.
- If your dream home is out of reach, look for a starter home. Use today’s low interest rates to start hammering down your mortgage, then watch for the opportunity to get the home of your dreams – using the equity and credit rating you’ve been building!
If you have any questions regarding down payments or Mortgages in general feel free to give us a call. We are happy to help
March 3, 2014 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers | Tags: Bank of Canada, banking practices, condo, first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwrealestatelife, loft, lofts in kitchener, market update, Mortgage News, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
February 2014 Kitchener Waterloo Real Estate Market Update
JANUARY’S DEEP FREEZE SLOWS OVERALL HOME SALES
CONDO SALES UP IN JANUARY
With most of the country still locked in the DEEP FREEZE, Kitchener waterloo still remains strong on pricing even though sales are slipping a little. The warm weather approaching soon(i hope), I would expect that the market will kick into high gear with strong sales.
If you have any questions on the market in general or specific pricing of your home please don’t hesitate to give me a call.
See below to read the excerpt from the Kitchener Waterloo Real Estate Boards stats.
KITCHENER-WATERLOO, ON (February 5, 2014) –– Homes sales through the Multiple Listing System (MLS®) of the
Kitchener-Waterloo Association of REALTORS® (KWAR) in January were down 5.3 percent compared to January
of last year.
A total of 319 residential properties were sold compared to 337 the same time last year. Residential sales in
January included 207 single detached homes (down 13.4% from last January), 17 semi-detached (down 29.2%),
18 townhomes (down 28%) and 74 condominium units (up 54.2%).
“Coming off a strong 2013, the pace of home sales slowed down somewhat in January,” stated Lynn Bebenek,
President of the KWAR. “The weather didn’t help much either; the extreme cold and heavy snow made
January a less than desirable month to be out looking at houses.”
January’s deep freeze didn’t hamper sale prices however, single detached homes sold for an average price of
$375,009 an increase of 5.7 percent compared to last year. The average sale price for a condominium was
$214,921 an increase of 1.5 percent, while townhomes and semis sold for an average of $263,679 (down 0.9%)
and $254,807 (up 3.5%) respectively. The average sale price of all residential sales through the KWAR’s MLS®
System increased 1.1 percent to $323,533 compared to January 2013.
“The winter months can be hit or miss depending on the weather,” says Bebenek. “Buyers and sellers will be all
the more eager once spring hits, and we are expecting a strong spring market.”
February 10, 2014 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: Bank of Canada, condo buying, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, Mortgage News, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Kitchener Waterloo Real Estate Update for November 2013
HOME SALES DOWN IN NOVEMBER, UP ON YEAR-TO-DATE BASIS
KITCHENER-WATERLOO, ON (December 4, 2013) –– Homes sales through the Multiple Listing System (MLS®) of the
Kitchener-Waterloo Association of REALTORS® (KWAR) in November were down 8.2 percent compared to
November of last year. Residential sales have totalled 6,080 on a yearly basis which represents a 2.3 percent
increase over last year, and also a year-to-date record for total units sold since 2007.
A total of 459 residential properties were sold compared to 500 the same time last year. Residential sales in
November included 295 single detached homes (down 9.2% from last November), 41 semi-detached (up
20.6%), 30 townhomes (up 7.1%) and 90 condominium units (down 15.1%).
“Looking back on 2013 as it winds down, we’ve had a strong and stable year of homes sales” says Lynn
Bebenek, newly elected President of KWAR. “The strength of our local economy and low interest rates continue
to support housing demand in Waterloo Region.”
Single detached homes sold for an average price of $370,068 an increase of 3.0 percent compared to last
year. The average sale price for a condominium was $214,932 an increase of 3.4 percent while townhomes and
semis sold for an average of $268,194 (up 2.3%) and $240,645 (up 1.7%) respectively. The average sale price of
all residential sales through the KWAR’s MLS® System increased 3.1 percent to $320,591 compared to November
2012.
“November’s housing sales demonstrate that Waterloo region continues to be a desirable place to live and
work,” says President Bebenek, “With local job creation expected to outpace losses next year, and barring any
drastic changes in lending rates, Waterloo region should continue to enjoy a healthy housing market in 2014.”
December 4, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Uncategorized | Tags: first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, lofts in kitchener, market update, Mortgage News, Remax, sales rep, waterloo ontario, waterloo region school board, westvale | 1 Comment
October 2013 Kitchener Waterloo Real Estate Update – Kitchener Homes For Sale
SOLID HOME SALES IN OCTOBER
KITCHENER-WATERLOO, ON (November 5, 2013) –– Residential property sales through the Multiple Listing System
(MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in October were down 4.0 percent
compared to October of last year.
A total of 481 residential properties were sold compared to 501 the same time last year. Year-to-date sales are
up 3.3 percent with 5,620 homes trading hands so far this year. That stands 2.2 percent above the 5-year
average and up 3.2 percent from the same time in 2012. Residential sales in September included 313 single
detached homes (down 2.8% from last October), 44 semi-detached (down 8.3%), 36 town homes (up 9.1%) and
85 condominium units (down 7.6%).
“On a monthly basis the number of sales in October was in line with the average of the past 5 years,” says
Dietmar Sommerfeld, President of KWAR. “Looking at year-to-date figures, homes sales are the highest they’ve
been compared to the last five years.”
Sommerfeld says he is confident about the local economy and the region’s housing market, pointing to a
recent Canadian Mortgage Housing Corporation (CMHC) report (Fall 2013) that states steady mortgage rates
combined with stable/increasing employment in the Region will continue to keep housing demand strong
moving into early 2014.
Single detached homes sold for an average price of $352,807 an increase of 3.6 percent compared to last
year. The average sale price for a condominium was $214,226 a decrease of 0.7 percent compared to
October of last year. The average sale price of all residential sales through the KWAR’s MLS® System increased
3.3 percent to $312,785 compared to October 2012.
If you ever have any questions on the information provided or specific pricing of your home feel free to give me a call to discuss. I am always happy to help.
November 7, 2013 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers | Tags: Bank of Canada, condo, condo buying, eastbridge, first time home buyer, full time realtor, home buying, home value, kevin baker, kwhometeam, loft, lofts in kitchener, market update, Mortgage News, real estate, real estate investing, Remax, waterloo ontario, waterloo region school board | Leave a comment
Get the Best Mortgage Rate: 5 Tips for Financial Fitness
When the time is right for you to buy a home, make sure you are financially fit and eligible for the best possible mortgage rates. Here are our top five tips to boost your “financial fitness”:
1. Whip it. Whip your credit rating into shape: pay your bills on time… every time. Keep your oldest credit card for its history, and make sure it’s always paid on time. Try not to apply for any new credit.
2. Follow the 33% rule. Never run up a credit card or line of credit past 33% of its available limit. If you’ve got a $3,000 limit, then $1,000 is your absolute ceiling.
3. Cash is king. Gather up the maximum down payment possible. The more money you put down on a home, the better.
4. Be prepared. Put together a file folder with the following: pay stubs, or proof of self-employment income, list of debts and assets, and current bank statements. We can advise what you’ll need.
5. Start a dialogue. Talk to us about your plans. Find out if you can pre-qualify, and ask about how you might qualify for the best possible rate.
The process of qualifying for a mortgage begins long before you decide to buy a home! But if you make a plan to improve your financial fitness… you’ll have no shortage of lenders willing to compete for your business. For more information or a connection to a great Broker just give me a call. I am happy to help.
November 6, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: Bank of Canada, condo, first time home buyer, full time realtor, home buying, home value, inventory levels, Kitchener waterloo, lofts in kitchener, market update, Mortgage News, Mortgage Rates, real estate, Remax, waterloo ontario | Leave a comment
How to Get the best Mortgage Deal – Kitchener Waterloo Homes for sale
Here is a great resource for trying to figure out what is the best mortgage product out there to fit your needs. This article gives you 63 different things too look for when trying to secure the best mortgage possible. As always if you have any questions or need any Real Estate Related advice feel free to give me a call or email.
November 4, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Uncategorized | Tags: Bank of Canada, banking practices, condo, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, loft, lofts in kitchener, Mortgage News, Mortgage Rates, real estate investing, Remax, sales rep, twin city, waterloo ontario | Leave a comment
How To Prepare When Mortgage Rates Start Going Up – Kitchener Waterloo Homes For Sale
Five ways to prepare for higher mortgage rates
Mortgage rates on the rise? No need to panic; what you need is some smart strategies to prepare. Here are our top 5 tips:
1. Don’t take the money. If you’re buying a new home, don’t be tempted to borrow the maximum amount your lender will allow.
2. Do more than the minimum.If you have a variable-rate mortgage, build in some wiggle room by setting your payments higher than required.
3. Plan to pre-pay. Find out what your pre-payment privileges are and pay whatever you can.
4. Conduct a reality check.Find out what your mortgage balance will be at renewal and use our online mortgage calculator to project what your payments could be if you renewed at a higher rate. Start to ease up to your new payment level so at renewal, it’s like a merge lane!
5. Watch your bad debt. Be cautious about any credit card or other high-interest debt.
Getting prepared for higher rates is not about panicking, it’s about being prudent.Give me a call if you have any questions.
October 2, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Uncategorized | Tags: assessment, Bank of Canada, banking practices, condo, condo buying, first time home buyer, full time realtor, home buying, kitchener, Kitchener waterloo, kwhometeam, loft, market update, Mortgage News, Mortgage Rates, real estate, real estate investing, Remax, sales rep, waterloo ontario | Leave a comment
Mortgage Renewals – Almost Have of All Homeowners Sleep Right Through Them.
Given the large financial commitment of a mortgage, it’s surprising that 44 per cent of Canadian homeowners either just accept whatever their lender offers at renewal, or don’t even remember how they renewed!
It’s tempting to just sleepwalk through the mortgage renewal process. But if you’re not doing even the slightest comparison shopping or negotiating, then you’re missing out on an opportunity to save thousands on your mortgage. When your lender sends you a letter saying it’s time to renew… what that really means is that it’s time to get advice. Professional, independent advice.
Get an expert second opinion on what you’re being offered. We’ll take a look, and compare it to what we can find out there as an alternative among the 50 or more lenders we have access to.
Got a mortgage renewal coming up in the next six months? Give me a call and I will connect you with someone that can help.
October 2, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: Bank of Canada, banking practices, condo, condo buying, first time home buyer, home value, kevin baker, Kitchener waterloo, loft, lofts in kitchener, Mortgage News, Mortgage Rates, real estate, real estate investing, Remax, sales rep, Twin City Realty, waterloo ontario, waterloo region school board | Leave a comment
First Time Home Buyer? A Key Tax Credit Is Still Available
If you’re buying your first home, take advantage of the Home Buyers Tax Credit (HBTC).
The credit is designed to assist first-time home buyers with the extra costs associated with buying a home, like legal fees, disbursements and land transfer taxes. The $5,000 non-refundable HBTC amount provides up to $750 in federal tax relief. You qualify if neither you nor your spouse (or common-law partner) have owned and lived in another home for the past five years*. If you have a disability – or are purchasing the home for a relative with a disability – you may also qualify for the program, even if you are not a first-time buyer.
* For more information, visit the Action Plan website atwww.actionplan.gc.ca/en/initiative/first-time-home-buyers-tax-credit
September 4, 2013 | Categories: Buyers, Local Kitchener Waterloo, Uncategorized | Tags: first time home buyer, full time realtor, HBTC, home buying, kevin baker, Kitchener waterloo, lofts in kitchener, Mortgage News, real estate, real estate investing, Remax, tax credit, waterloo ontario | 1 Comment
No Bank of Canada Rate Change – Kitchener Waterloo Homes and Condos for sale
Today in Stephen Poloz’s first policy decision since he replaced Mark Carney as the Bank Governor he has kept the prime rate or the benchmark rate unchanged. This rate has held steady at 3% since September of 2010.
Today’s announcement noted that there will be a continuation of steady rates “as long as there is significant slack in the Canadian economy, the inflation outlook remains muted, and imbalances in the household sector continue to evolve constructively.”
The prime rate for most lenders should stay at 3%, great news for variable rate holders. In regards to fixed rates, that market is in a state of flux. With bond prices dropping of the past month that has put upwards pressure on yields which in turn raise interest rates. If you have any questions on what to do or who to call to get a great rate locked in before your next home purchase please give me a call and I am happy to help.
July 17, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: Bank of Canada, banking practices, condo, condo buying, first time home buyer, full time realtor, home buying, home value, kitchener, market update, Mortgage News, real estate, real estate investing, Remax, sales rep, waterloo ontario | Leave a comment
Interest Rates Hold Steady For Now – Kitchener Waterloo Homes and Condos for sale
Rates Stay Put in Carney’s Last Announcement
The Bank of Canada is keeping the key policy rate unchanged in the last rate announcement under outgoing Governor Mark Carney. The Bank said that Canadian “growth in the first quarter was stronger than the Bank projected” and that looking ahead “consumer spending is expected to grow at a moderate pace, business investment to grow solidly,” and inflation to remain subdued. The Bank also noted that “growth in total household credit is slowing.”
As we’ve seen in previous announcements, the Bank indicated that our historic low rates “will likely remain appropriate for a period of time” as a result of continued weakness in the economy, but hinting that any future rate move will likely be a modest rate increase.
The prime rate for most lenders should stay at 3%, exactly where it has been for almost three years, since September 2010.
The Bank’s next rate decision is scheduled for July 17.
If you have any questions on rates or the Real Estate market in Waterloo Region feel free to give me a call.
May 30, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Uncategorized | Tags: Bank of Canada, banking practices, condo, condo buying, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, lofts in kitchener, market update, Mortgage News, Mortgage Rates, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Bank of Canada Keeps Benchmark Rate Unchanged!
Key Interest Rate Stays Put
With a lower growth forecast, the Bank of Canada is once again keeping its key policy rate unchanged, noting that our historic low rates “will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required.” With a weaker second half of 2012, the bank projects that growth in Canada will regain some momentum through 2013, with the economy “reaching full capacity in mid 2015 – later than anticipated.”
The prime rate for most lenders should stay at 3%, now unchanged since September 2010.
The Bank’s next rate decision is scheduled for May 29.
As for fixed rates, we continue to enjoy historically low rates for those looking to purchase or refinance, perfect for the spring market!
| Terms | Posted Rates | Our Rates |
| 6 MONTHS | 4.00% | 3.95% |
| 1 YEAR | 3.00% | 2.65% |
| 2 YEARS | 3.04% | 2.69% |
| 3 YEARS | 3.70% | 2.65% |
| 4 YEARS | 4.64% | 2.85% |
| 5 YEARS | 5.24% | 2.84% |
| 7 YEARS | 6.35% | 3.49% |
| 10 YEARS | 6.75% | 3.69% |
| Rates are subject to change without notice. OAC E&OE | ||
| CURRENT PRIME RATE IS | 3.00% |
| PRODUCT | RATE |
| 5 YEAR VARIABLE: | 2.60% |
April 17, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: Bank of Canada, banking practices, condo buying, first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwhometeam, lofts in kitchener, market update, Mortgage News, Mortgage Rates, real estate investing, realtor, Remax, waterloo ontario | Leave a comment
Boost your Down payment and get a RRSP Refund using Federal Home Buyers Program for First Time Buyers
The Deadline for this RRSP season to help with your first home; contribute before March 1, 2013!
It’s RRSP season! If you’re a first-time buyer, consider how the Federal Home Buyers’ Program (HBP) and a tax refund can boost the funds you have available for your purchase.
If you have RRSP contribution room, you should contribute your savings before March 1, 2013 so you can qualify for a 2012 tax refund based on the amount you contribute and your marginal tax rate. Then, after 90 days, you can redeem those funds under the Home Buyer’s Plan (HBP). The HBP lets first-time homebuyers withdraw up to $25,000 each (or $50,000 for a couple) tax-free from their RRSPs. You’ll need to pay those funds back, of course, on a repayment plan, but this strategy can make a substantial difference in the affordability of home ownership!
While your funds are tied up for those 90 days, we can get you an interest rate hold. Let’s have a conversation about the HBP and determine if this strategy can work for you.
For more information on how to use this tool for the purchase of your first home please contact myself at kevinbaker@kwhometeam.ca or Tracy Bennett at Bennett Capitial tracy.bennett@bennettcapital.ca
January 28, 2013 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers | Tags: Bank of Canada, condo, down payment, federal home buyer program, first time home buyer, home buying, kevin baker, Kitchener waterloo, kwhometeam, lofts in kitchener, market update, Mortgage News, real estate, real estate investing, Remax, rrsp contribuitions, waterloo ontario | Leave a comment
Mortgage Plus Improvments and How It Works – Kitchener Waterloo Homes for sale
If you are in the market for a new home and are having trouble finding something that suits or have found something but it needs a bit of work and you may not have the extra money out-of-pocket, then you can get a mortgage plus improvements type product to help make that home a possibility. Have a look at the video to hear how the product works.
November 7, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: Bank of Canada, banking practices, condo, first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwhometeam, market update, Mortgage News, Mortgage Rates, real estate, real estate investing, realtor, realty, Remax, sales rep, twin city, waterloo ontario | Leave a comment
How Long Will My House Take to Sell? – Kitchener Waterloo homes for sale
How long will my house take to sell? That is one of the most asked questions I get from consumers. It depends on several variables. Have a look at the video to hear my thoughts on Kitchener Waterloo average days and why.
September 20, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, market update, Mortgage News, real estate, real estate investing, Remax, waterloo ontario, waterloo region school board | Leave a comment
August Stats are out and Kitchener Waterloo Home Prices still Strong! – Kevin Baker Remax Twin City
KITCHENER-WATERLOO HOMES SALES EASE IN AUGUST
KITCHENER-WATERLOO, ON (September 6, 2012) –– There were a total of 495 home sales through the
Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in August,
a decrease of 4.4 percent compared to the 518 homes sold in the same month last year.
On a year-to-date basis, residential home sales remain on par with last year – with a total of 4,492
sales recorded.
August’s residential sales included 322 detached homes (down 7.7 percent), 35 semi-detached (up
6.1 percent), 37 townhouses (up 32.1 percent), and 97 condominium units (down 4 percent).
The average sale price of all residential properties sold in Kitchener-Waterloo and area rose 7.3
percent in August to $314,623, up from $293,303 one year ago. Condominium units increased 9
percent to $231,654, up from $212,513 a year ago. Single detached homes sold for an average price
of $354,064, a 7.6 percent increase compared to a year ago.
“While sales were down in August, we saw fairly strong price gains last month, says Sara Hill, president
of the KWAR. “This was helped along by the fact that 3 residential properties sold for over 1 million
dollars in August, compared to no sales in that price range last August.”
Also putting pressure on August’s average residential sale price was the increase in the number of
homes that sold for more than $400,000. 96 homes were reported sold that came in over $400,000,
representing an increase of 37 percent compared to the 70 homes that sold above that mark in
August 2011.
Information taken from Kitchener Waterloo Real Estate Board and MLS.
September 7, 2012 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers, Uncategorized | Tags: August, first time home buyer, home buying, home value, inventory levels, kevin baker, kitchener, Kitchener waterloo, kwrealestatelife, loft, Mortgage News, real estate, real estate agent, real estate investing, Remax, sale price, waterloo ontario, waterloo region school board | Leave a comment
New Mortgage Rules and how they affect you – Kitchener Waterloo Homes for sale
Last week the government mortgage rule changes came into effect. There were 2 major changes that are going to effect people and the amount that they will be able to borrow. Have a listen to the video to hear my thoughts.
July 16, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: assessment, Bank of Canada, banking practices, condo, condo buying, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, loft, market update, Mortgage News, Mortgage Rates, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Know Your Closing Costs and Planning For Them! – Kitchener Waterloo Homes for Sale
Closing Day is fast approaching and one of the most important things is to make sure you have planned for all the closing costs that come up when you are buying or selling a home. Have a look at the video I did to learn why this is a very important step in the process.
March 6, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: closing costs, condo, eastbridge, first time home buyer, full time realtor, home buying, home ownership, home value, kevin baker, kitchener, Kitchener waterloo, kwhometeam, loft, market update, Mortgage News, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Kitchener Waterloo Real Estate Market Prediction for 2012- Kevin Baker
Hey Everyone, I attended a CMCH housing forecast last week and then on Tuesday of this week I listened to Craig Alexander, Sr. V.P. and Chief Economist for TD Bank give his predictions on where the housing market is going for 2012. Have a listen and hear my brief synopsis on the info I gathered.
January 27, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: Bank of Canada, condo, facebook, first time home buyer, home buying, home value, inventory levels, kevin baker, kitchener, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, market update, Mortgage News, Prime rate, real estate investing, Remax, waterloo ontario, waterloo region | 2 Comments
Do Your Due Diligence When looking for your next home – Kitchener Waterloo Real Estate
The buying process can be a confusion one at the best of times and its easy to forget things with all the stress of looking, doing offers etc. Make sure you make a list of wants, needs and the important things you are looking for in a new home. Have a look at the video to hear my thougths on some of the important ones.
December 29, 2011 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: due diligence, first time home buyer, full time realtor, home buying, home value, inventory levels, Kitchener waterloo, kwhometeam, loft, market update, Mortgage News, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Mortgage Pre Approvals. Why they are a good idea! – Kitchener Waterloo Real Estate, Homes and condos online
Before you start your home buying search a great first step is to get a mortgage preapproval from your bank or mortgage broker. There are a few key reasons as to why. Have a look at this video to hear some helpful advice.
December 12, 2011 | Categories: Buyers, Local Kitchener Waterloo, Video Blogs | Tags: Bank of Canada, banking practices, condo, first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, lofts, market update, Mortgage News, Mortgage Rates, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Market still going strong in Kitchener Waterloo and Cambridge – Kitchener Waterloo Realtor Kevin Baker
Waterloo Region house sales gained momentum in October
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.
Info obtained from the Record.com
November 3, 2011 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwrealestatelife, loft, lofts, lofts in kitchener, market update, Mortgage News, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
CONDO SALES REMAIN STRONG IN KITCHENER WATERLOO- Kitchener homes for sale
CONDO SALES REMAIN STRONG IN K-W
KITCHENER-WATERLOO (OCT 5th, 2011) – Residential sales to the end of the 3rd quarter of 2011 are behind last year by 2.9%. A total of 4,975 homes have sold to date this year through the Multiple Listing Service (MLS*) of the Kitchener – Waterloo Association of Realtors, compared with 5,126 during the same period last year.
Overall residential sales brought the dollar volume of $1,493,498,796, an increase of 0.8 % compared to a year ago.
While sales have been slightly behind last year’s results for most dwelling types, the condo market has been the notable exception. There have been 953 condo sales year-to-date, a 2.8 % increase compared to a year ago.
Stronger demand for condo’s has helped push up the average price up to 5% on a year to date basis. The average price of a detached home has increased 3.7% to $341,222.
Home sales were down last month by 4.7% over last year at this time. Interest rates continue to be low and its a great time for buyers who are entering the market for the first time, or those wishing to transition into a different kind of home, whether its trading up or downsizing.
October 7, 2011 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, market update, Mortgage News, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Mortgages…Read the documents before you sign – Kitchener Homes for sale
Make sure you always read the paperwork before you sign any mortgage or legal documents. Have a look at the video to see my thoughts….
June 27, 2011 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers, Video Blogs | Tags: first time home buyer, full time realtor, home buying, home value, Kitchener waterloo, kwhometeam, kwrealestatelife, Mortgage News, Mortgage Rates, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
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