KITCHENER-WATERLOO REAL ESTATE-HOMES & CONDOS FOR SALE

Posts tagged “teamwork

Home Sales Slip in September here in Kitchener Waterloo


The fall colors are just starting to come out and Oktoberfest festivities are in full swing here in KW. I hope that you have been able to get out and enjoy the beautiful weather that we have been having this Thanksgiving weekend!

The stats are out for the Waterloo region real estate market and I wanted to share the results.  There were 448 homes sold in September, a decrease of 4.7 per cent compared to September of last year. On a year-to-date basis 4,558 residential units have sold compared to 5,345 during the same period in 2017, a decrease of 14.7 per cent.

The stress-test that came into force on all new mortgages at the beginning of the year has taken some of the steam out of home sales activity, meanwhile home prices continue to rise as inventory levels remain rather low. Residential sales in September included 270 detached (down 6.3 per cent compared to September 2017), and 110 condominium units (up 7.8 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 30 semi-detached homes (down 18.9 per cent) and 30 freehold townhouses (down 18.9 per cent).

The average sale price of all residential properties sold in September increased 10 per cent to $492,398 compared to the same month a year ago. Detached homes sold for an average price of $574,653 an increase of 11.4 per cent compared to September of last year. During this same period, the average sale price for an apartment style condominium was $325,378 an increase of 24.1 per cent. Town homes and semis sold for an average of $377,442 (up 4.7 per cent) and $386,670 (up 4.1 per cent) respectively. The median price of all residential properties sold last month was up 10.5 per cent compared to September of last year at $453,000, and the median price of a detached home during the same period increased 8.8 per cent to $520,000.

There were 824 residential properties listed in K-W and area in last month, a 10 per cent increase compared to September of last year, and 9 per cent above the historical ten-year average of 755. The number of active residential listings on the KWAR’s MLS® System to the end of September totaled 1,005, which is 18.2 per cent higher than September of last year but 522 units short of the previous ten-year average of 1,527 listings for September.

While the mortgage stress was intended to prevent home buyers in overheated markets like Vancouver and Toronto from borrowing more than they could afford, it has had the unintended consequence of putting the goal of owning a home further out of reach for buyers across all housing markets, including in Waterloo region. This is particularly impactful for first time home buyers where every penny counts.

If you have any questions or are thinking of buying or selling a property in the coming months, please give me a call at 519-497-4646 or email to kevinbaker@kwhometeam.ca and we can sit down, grab a coffee and discuss the best way to make it a smooth move for your family.

Happy Thanksgiving!

Kevin

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Inspectors, Realtors, Mortage Brokers, Lawyers… Putting together the right group – Kitchener Homes for sale


Part 2 in my series on what buyers should be aware of  when looking for a new place. Make sure you put together a great group of professionals to help you with the process. Have a look at the video to hear my thoughts….


Kitchener Homes for sale -Teamwork


I am spending the day with my son at his school basketball tournament. It is interesting how a team of 12 and 13 year olds function as a team. Some teams work very well together. You can tell that they have been coached and taught the fundamentals of moving the ball, making crisp passes and taking good shots. On the other hand there are teams that are made up a 5 individuals all doing their own thing. They bring the ball in, run down the court with their head down and head straight toward the basket. They take some crazy shot which is nowhere near the basket. Then they proceed to run back on defence so that they are ready for the next turn to run down the court and do it all again.

As in life, the real estate business is much the same way. In order to have the proper outcome in a real estate transaction the Realtor must ensure that every team member is playing their appropriate position. Not unlike a point guard leading his team to victory, a Realtor must assume the lead and direct the players to get the desired result.

So if the realtor is the point guard then the shooting guard is the mortgage broker. The small forwards are the lawyers and appraisers and the center is the client.  If you ever watch a great team perform, the focus is usually on the center when moving the ball down the court in order to score. He has the highest percentage of making the shot. If he has no shot he kicks the ball back out to the guard to put up the 3 pointer or reset for the next attempt to get the ball in the paint. Each member is doing their part to communicate and moving the ball around to get the score.

The center being the client, their role is get the house ready for sale, do the work of keeping it that way and ultimately scoring an offer that will result in the sale. It is the realtor’s job of leading this effort and providing information and direction to the rest of his team.

Another example would be a seller trying to sell their house themselves. One person has trouble playing two opposite positions, for example,  center and point guard. It is impossible to bring the ball up the court as well as be there to receive the pass in the middle. They don’t have the experience or the mindset of the guard because their job is to be the center and take the ball to the hoop.

When a team is made up of 5 people all doing different things, not communicating with each other or one player is trying to play too many positions at once, the result is no basket and your back on defence. Only when the point guard(realtor) takes charge and makes all the pieces work as a unit, which ultimately  keeps the ball moving thus end up with a result that is positive and worth the effort..