My Life as a Realtor PT. 1


By Cindy-lou Schmidt

 

I often get asked questions about my job as a REALTOR, including how and why I decided to become a real estate agent, tips for people thinking about becoming an agent, and what life might be like on an everyday basis.

Today I’m going to talk about my reasons for becoming a Realtor and give you a few tips!

Kindly,

 

Simplified Market Update – September 2018 – Sales Up Year-Over-Year


By Cindy-lou Schmidt

The end of summer has brought more action! August was the first month this year that saw a year-over-year increase in monthly home sales. The number of homes sold was up 4.8% compared to August of last year.

The average sale price of all residential properties sold increased 11.5% to $493,358 compared to the same month a year ago, with condominiums and town homes making the greatest gains.

It looks as though buyers are beginning to gain confidence after the affects of the new mortgage rules on budgets that were enacted January 1, 2018 and are beginning to see that while fewer homes are selling, the prices continue to rise.

Cindy-lou’s Simplified Market  Update


Full Media Release

MONTHY HOME SALES UP ON YEAR-OVER-YEAR BASIS IN AUGUST FOR FIRST TIME IN 2018

KITCHENER-WATERLOO, ON (Septmeber 6, 2018)

August home sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down 0.8 per cent compared to last month and up 4.8 per cent compared to August of last year. A total of 505 residential properties sold in August compared to 482 the same time last year.

“For the first time this year we saw monthly home sales increase on a year-over-year basis,” says Tony Schmidt, KWAR President. “On a year-to-date basis, we’re still well below last year’s record-breaking number of home sales but still in line with historical averages.”

Residential sales in August included 301 detached (up 5.2 per cent compared to August 2017), and 129 condominium units (up 25.2 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 35 semi-detached homes (down 30 per cent) and 33 freehold townhouses (no change).

The average sale price of all residential properties sold in August increased 11.5 per cent to $493,358 compared to the same month a year ago. Detached homes sold for an average price of $583,564 an increase of 13 per cent compared to August of last year. During this same period, the average sale price for an apartment style condominium was $335,827 an increase of 14.1 per cent. Town homes and semis sold for an average of $350,803 (up 4 per cent) and $401,011 (up 13.6 per cent) respectively.

The median price of all residential properties sold last month was up 10.4 per cent compared to August of last year at $458,000, and the median price of a detached home during the same period increased 18.1 per cent to $543,450.

REALTORS® listed 670 residential properties in K-W and area last month, up 12.7 per cent compared to August of 2017, and 3.4% above the historical (2007-2016) average of 648. The number of active residential listings on the KWAR’s MLS® System to the end of August totalled 917, which is 11.5 per cent higher than August of last year but still significantly below the historical (2007-2016) ten-year average of 1,550 listings for August.

 

“More homes selling in the higher prices ranges in August were at least partly responsible for the increase in the average sale price,” notes Schmidt. “But strong demand on the buying side combined with low inventory on the listing side is continuing to keep upward pressure on prices.”

Schmidt is encouraged by the increase in residential listings coming to market in August and hopes to see even more homes listed on the MLS® System in September. “I certainly don’t see interest in Waterloo region as a place to live and work slowing down anytime soon, so we could definitely stand to see some more housing supply.”

The average days it took to sell a home in August was 28 days, compared to 26 days in August 2017.


 

Book a personal evaluation of your home so you can make an informed decision to net the most money when you list one of your biggest assets for sale. Contact me for a complimentary assessment. The condition of your home, location, and other key factors matter.

Kindly,

Simplified Market Update – August 2018 – Home sales down, prices up


By Cindy-lou Schmidt

The Trend Continues! Home sales in Kitchener-Waterloo have continued to balance out with home sales numbers dropping while home prices continue to rise.

Cindy-lou’s Simplified Market  Update

 


Full Media Release

SALES RETURNING TO NORMAL WHILE PRICES REMAIN STABLE

KITCHENER-WATERLOO, ON (August 2, 2018)

July home sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down 16.8 per cent compared to last month and down 10.6 per cent compared to July of last year.  A total of 504 residential properties sold in July compared to 564 in the same month last year.

On a year-to-date basis, there have been 3,601 home sales during the first half of the year, a decrease of 18.0 per cent.

“The story for July is largely more of the same that we’ve been seeing for most of 2018,” says Tony Schmidt, KWAR President. “The number of sales has decreased from what we were seeing the past couple of years to more typical levels, but the value of homes not only remains steady but continues to gradually increase.”

Residential sales in July included 282 detached (down 23.4 per cent compared to July 2017), and 130 condominium units (up 14.0 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 53 semi-detached homes (up 35.9 per cent) and 35 freehold townhouses (down 5.4 per cent).

The average sale price of all residential properties sold in July increased 5.5 per cent to $480,145 compared to the same month a year ago. Detached homes sold for an average price of $584,337 – an increase of 12.4 per cent compared to July of last year. During this same period, the average sale price for an apartment style condominium was $292,714, an increase of 4.3 per cent. Townhomes and semis sold for an average of $359,278 (up 2.2 per cent) and $387,664 (up 9.8 per cent) respectively.

The median price of all residential properties sold last month was up 7.1 per cent compared to July of last year at $443,700, and the median price of a detached home during the same period increased 12.8 per cent to $530,000.

REALTORS® listed 739 residential properties in K-W and area last month, down 8.9 per cent compared to July of 2017. The number of active residential listings on the KWAR’s MLS® System to the end of July totalled 1,062, which is 3.3 per cent higher than July of last year but still down from the historical (2007-2016) ten-year average of 1,885 listings for July.

“The competition from buyers is still out there, but not nearly as prevalent as the past two years. This is showing up in the $400,000-$600,000 price point where we continue to see the shortest average days on market,” reports Schmidt. “I think this reflects both the move-up market as well as the typical home that buyers who migrated down the 401 were purchasing.”

“There is no doubt the mortgage stress-test is impacting buyers and the market. Our concern has always questioned the wisdom of introducing policy to respond to temporary market activity, so now the only question is whether this impact is beneficial or not.”

“Either way, Buyers are wise to avail themselves of a REALTOR® to help them navigate local market conditions and ensure the most successful outcome.”

The average days it took to sell a home in June was 23 days, the same as in June 2017.

 


 

Would you  like an practical valuation of your home to help you make an informed decision about selling? Contact me for a complimentary assessment. The condition of your home, location, and other key factors matter.

Kindly,

Simplified Market Update – July 2018 – Home sales down, prices up


By Cindy-lou Schmidt

Home sales in Kitchener-Waterloo have continued to balance out with home sales numbers dropping with home prices continuing to rise.

Cindy-lou’s Simplified Market  Update:

  • In June, a total of 604 residential properties sold in June compared to 716 the same time last year.
  • REALTORS® listed 850 residential properties in K-W and area last month, down 21.5 per cent compared to June of 2017, but fairly close to the historical (2007-2016) average of 859.
  • There were 1030 active listings by the end of June, which is 11% higher than June 2017.

 

June’s  residential sales units included (compared to June 2017):

365 detached (down 21.2%)

151 condominium units (up 6.3%) {includes semis, townhomes, apartment, detached etc.}

38 semi-detached homes (down 29.6%)

43 freehold townhouses (down 15.7 %).

The average sales price of all residential properties sold last month increased 5.2 per cent to $572,206 (down 3.4%) compared to June 2017. Accordingly:

Detached homes sold for an average price of $575,003 (up 5.2%)

Average prices for an apartment style condominium was $314,180 (up 13.2%)

Townhomes sold for an average of $378,562 (up 10.8%)

Semis sold for an average of $391,830 (up 2.09%)

 

What does this mean?

The market continues to balance out as people adjust to their buying power, while the desirability of homes in Waterloo Region remains high. 

 

 

Would you  like an practical valuation of your home to help you make an informed decision about selling? Contact me for a complimentary assessment. The condition of your home, location, and other key factors matter. For more on the official report on our K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.

Kindly,

Simplified Market Update – June 2018 – Strong Home Sales Continue


By Cindy-lou Schmidt

Home sales in Kitchener-Waterloo have continued to heat up along with the great local temperatures! Our summer-like spring has been in line with sales as May 2018 saw a 12.5% increase compared to April 2018.

Cindy-lou’s Simplified Market Summary:

  • In May, 692 residential properties were sold, as compared to April’s 616 residential properties.
  • REALTORS® listed 1068 residential properties in K-W and area last month, down 14.4% compared to May of 2017.
  • There were 1062 Active listings by the end of May totaled 1062, which is 27.9% higher than May 2017.

May’s  residential sales units included (compared to May 2017):

414 detached (down 15.7%)

169 condominium units (down 7.1%) {includes semis, townhomes, apartment, detached etc.}

46 semi-detached homes (down 28.1%)

46 freehold townhouses (down 24.3%).

The average sales price of all residential properties sold last month decreased 6.06 per cent to $482,873 (down 2.4 percent compared to April 2017. Accordingly:

Detached homes sold for an average price of $572,206(down 3.4%)

Average prices for an apartment style condominium was $301,052 (up 2.7%)

Townhomes sold for an average of $365,715 (up 1.3%)

Semis sold for an average of $393,616 (up 2.0%)

What does this mean?

1. There is a trend of slowing sales when compared to last year’s activity

a) Year-to-year : May 2018 was a 15.3% less busy in terms of home sales as compared to the same time last year.

However:

b) Month-to-month:  April-May saw a  12.5% increase in sales, down just slightly from the March-April 13.7%  increase in sales.

2. There is a trend in decreasing sales prices in single detached homes but all other styles continue to climb in price.

The mortgage stress test continues to impact  buyers as the $400,000- $500,000 price range remains very competitive.  This may be part of the reason for the continuing growth in sale prices in townhomes, condos and semi-detached properties as overflow leads many buyers to choose other styles of homes rather than focus on single-detached properties.

Sellers:

It took 20 days on average for a home to sell so you can expect to receive offers with conditions. When working with a Realtor to prepare your home and price it correctly you should be confident in selling your home for good value.

Buyers: 

There were nearly 30% more homes active on the market in May compared to last year, so we are seeing inventory actually be available long enough for buyers to consider their options. You will still want to be savvy and use the help of a Realtor to keep you informed and strategic on writing a winning offer.

If you’d like an accurate valuation of your home, contact us for a complimentary assessment. The condition of your home, location, and other key factors matter. For more on the official report on May’s K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.

Kindly,

Simplified Market Update – May 2018 – Spring Market Leveling Out


By Cindy-lou Schmidt

Home sales in Kitchener-Waterloo are seeing some changes along with the spring weather.

  • In April, 616 residential properties were sold, as compared to March’s 540 residential properties.
  • REALTORS® listed 974 residential properties in K-W and area last month, down 2.2 per cent compared to April of 2017.

“Last month 71 per cent of all residential sales were for less than half a million dollars, but the number of homes listed in that price range on our MLS® System right now is a little less than half of all the inventory,”  says Tony Schmidt, KWAR President.

April’s  residential sales units included:

343 detached (down 30.7 per cent)

185 condominium units (down 12.8) {includes semis, townhomes, apartment, detached etc.}

41 semi-detached homes (down 22.5 per cent)

46 freehold townhouses (up 13.2 per cent).

The average sales price of all residential properties sold last month decreased 6.06 per cent to $478,578 compared to April 2017. Accordingly:

Detached homes sold for an average price of $569,169 (down 4.2 per cent)

Average prices for an apartment style condominium was $296,958 (up 10 per cent)

Townhomes sold for an average of $386, 072 (up 2.5 per cent)

Semis sold for an average of $396,932 (down 3.7 per cent)

 

Cindy-lou’s Simplified Market Summary:

What does this mean?

1. There is a trend of slowing sales when compared to last year’s activity

a) Year-to-year : March was a 25% less busy in terms of home sales as compared to the same time last year, and now April is 30% less busy as compared to April 2017.

b) Month-to-month: While March sales really picked up by increasing over 40% from February to March, March to April only saw a 13.7%  increase.

2. There is a trend in decreasing sales prices.

a) The average sales price change in March compared to the same time last year was 0.7 percent. The average sales price in April as compared to April 2017 decreased by 6.06 percent.

b) While detached homes barely changed in price in March as compared to the same time last year, April 2018 saw a 4.2% decrease as compared to April 2017. Semi-detached homes have also seen a drop in sales price, by 3.3%

The stress test looks like it is definitely creating some impact on buyers as the under $500,000 price range heats up.   This may be part of the reason for the growth in condo apartment sales being the largest according to home style purchases over the last few months. The decrease in sales prices and numbers of detached and semi-detached properties may also be related to the challenges buyers face in getting approved under the most recent mortgage rules.

Sellers:

It takes 21 days on average for a home to sell so you can expect to receive offers with conditions. Don’t hesitate to invest some time in preparing your home for sale including tying up lose ends. Buyers are wanting to make sure they are getting value for their money as their buying power has been decreased due to series of mortgage rule changes.

Buyers: 

There were nearly 80% more  active residential listings this April as compared to last year so there are more choices. A little more breathing room is allowing you to have conditions including financing and inspection in some cases. However, you must remain competitive in a  desirable and strong market that is remains low on listings, particularly at the under $500,000 price range.

If you’d like an accurate valuation of your home, contact us for a complimentary assessment. The condition of your home, location, and other key factors matter. For more on the official report on April’s K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.

Kindly,

We’re now on YouTube


By Cindy-lou Schmidt

After getting feedback from our readers and clients, we’ve decided to make the jump to YouTube!

You can expect to get my Simplified Market Update via video along with the blog version each month on the blog as per usual! You’ll also find my discussions on real estate topics that cover Waterloo Region and area.

Subscribe today and stay up-to-date! Be one of the first 100 subscribers and you’ll be entered into a draw to win one of my favourite books as well!

Kindly,

 

Red Day is just around the corner


By Cindy-lou Schmidt

Introduced in 2009, RED Day, which stands for Renew, Energize and Donate, is Keller Williams Realty’s annual day of service. Each year on the second Thursday of May, associates, friends and family from every Keller Williams office in North America spend the day away from their businesses serving their communities. UPDATED: This year’s RED Day video:

https://youtu.be/MPB2MYblRKM

This year at Keller Williams Golden Triangle Realty, we’ll be returning to Howard Robertson Public School for the third year, helping to make sure that this school gets the extra support it needs to make it a vibrant place for the children and families served in their district.  This big project involves lots of work before the day arrives and I’m excited about making sure we’re ready to serve up a great BBQ to make sure everyone has the energy they need to help out.

What makes this even better is that we have local organizations and companies who have contributed funds and materials to help make this day possible, letting us focus our funds on resources for the school.

I’m looking forward to a great turn out this year and I’m excited to help make an impact in our community. To give you an idea of what we’ve done previously, see what we were up to last year!

Kindly,

 

Navigating the real estate rise and fall

As many of you have likely noticed, particularly if you have been thinking about buying or selling property in the last year, the real estate market has seen a number of fluctuations. All you have to do is open your Facebook, or turn on the television to see headlines declaring that home prices are continuing to climb or drop. The most recent? Canadian home prices have seen the biggest drop in 7 years.

So what if you’re thinking about selling or downsizing? What if you need to buy a larger home for your family or move closer to work? While the news has kept some of you in the loop, it’s really REALTORS along with the local and national statistics that can help to make sense of what is happening at ground level in Waterloo Region. How can you best take advantage of the market to meet your goals?

As real estate professionals, Landon and I have been anticipating the economical and psychological effects of the changes in lending rates and policy regulations and prepare our clients with how that will change the real estate experience.

Our market knowledge, strategy, timing, marketing, and active assessments of patterns and statistics can be an asset that you too can benefit from. What’s your next move? Let’s talk about where you want to go, and how we’ll get you there. Make an appointment with me now and we’ll develop a plan that works for you.

Buyers, use your Realtors!

Are you looking for a new home? Have you found a REALTOR®  that you trust and that you can go to for your real estate questions? Great! Why not take full advantage of their service to you when you are looking at homes?

While many buyers enjoy the advantages of attending an open house, sometimes that may not be possible. So who is the first person that you should call? Your Realtor!

Your Realtor will be able to tell you how many days the home has been on the market, whether or not there is a conditional offer on the home, as well as other details that are not readily available to the public. Of course, they will schedule the private viewing as well!

We’re always here to answer your Buyer questions and assist you in buying a home, unless you have your agent under contract to help you. In that case it would be a violation of ethics. If you do have an agent that has committed to you, please call your agent to book that showing. They’ll be happy to help!