As Realtors, we are certainly thankful for the resurgent real estate market Canada-wide. Low interest rates have been instrumental in increasing affordability to entice first-time buyers into the market. Real estate is local so let's look at a typical scenario in Kitchener-Waterloo. A couple buy a detached home for $250 000 with 5% down and get a 4% mortgage with a 5 year ...
Posted by Jeff Gingerich
on June 25, 2009
The Kitchener-Waterloo Real Estate Board reports 527 residential sales in K-W for May 2009 representing a 9% increase over May 2008 sales. The average price declined year-over-year by 1.4% to $261,628. Right about now you're probably thinking "What about the Recession?" This increase in sales is being driven by low interest rates resulting in increased affordability. ...
Posted by Jeff Gingerich
on June 9, 2009
Caveat emptor comes from Latin and embodies the principle of "let the buyer beware". When I think back to the tough times in real estate in the early '90's, I remember a number of new clients forced to sell who had bought a private sale during the good times in 1989-90. An analysis of their situation often revealed a number of issues. In many cases, they had overpaid ...
Posted by Jeff Gingerich
on June 5, 2009