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
In a sign of the times, million dollar residential sales in Kitchener-Waterloo are becoming increasingly rare. Currently there are 21 homes for sale in K-W with an asking price exceeding 1 million dollars. It certainly looks like a strong buyer's market as this price bracket has produced only 1 sale through the MLS this year. In 2008, the Kitchener-Waterloo Real Estate Board ...
Posted by Jeff Gingerich
on May 26, 2009
Residential sales in Kitchener-Waterloo for the first 2 weeks of May show a 15% increase over the same period in May 2008. Of note, out of 257 sales recorded by the Kitchener-Waterloo Real Estate Board, 199 were under $300 000. The supply of homes in this price range is shrinking rapidly due to high activity from first-time buyers. Average days on ...
Posted by Jeff Gingerich
on May 21, 2009
Home security was the topic this morning at an education seminar offered by the Kitchener-Waterloo Real Estate Board. Kitchener-Waterloo Realtors in attendance were provided with excellent information from Divisional Inspector Doug Sheppard of the Waterloo Region Police Service. He indicated most break-ins are committed by males under 25 and the 3 things they're typically ...
Posted by Jeff Gingerich
on May 5, 2009
Signs are all around us that rapid change is increasingly common in today's global economy. The ability to adapt will be the key to survive and even thrive. Research at the University of Waterloo has Waterloo Region at the forefront of nanotechnology. The future looks bright! http://news.therecord.com/business/article/521205
Posted by Jeff Gingerich
on April 16, 2009
There's an old fable about a chicken who thinks the sky is falling because he got hit in the head with a falling acorn. The moral of this fable is to have courage and not to be a "chicken". This "disaster is imminent" message is a common theme in the media today. It appears the residents of Waterloo Region know better.
In what can best be described as a stable market, ...
Posted by Jeff Gingerich
on April 3, 2009
There is an emerging trend for city folk to become town and country folk. The reasons for this trend are many and varied. For some, it comes down to price - more house and land for less money and lower property taxes. For others, they want to escape - the houses that are too close together, the noise, traffic, air pollution, litter and crime. Others see their ...
Posted by Jeff Gingerich
on March 30, 2009
I am the basis of all wealth, the heritage of the wise, the thrifty and prudent.
I am the poor person's joy and comfort, the rich person's prize, the right hand of capital, the silent partner of thousands of successful people.
I am solace of the widow, the comfort of old age, the cornerstone of security against misfortune and want. I am handed down through generations, as a possession of ...
Posted by Jeff Gingerich
on March 28, 2009
An analysis of early March MLS sales activity in Kitchener-Waterloo point to a relatively healthy market. Unit sales for the first 2 weeks of March totalled 151 versus 225 for the same period in 2008 representing a 33% decrease.
However, the average sale price year-over-year declined by less than 1% and the list-price to sale-price ratio was a robust 97.6%. The average days on ...
Posted by Jeff Gingerich
on March 19, 2009
Preliminary sales figures for February 2009 point to mixed results. The Kitchener-Waterloo Real Estate Board saw 290 residential sales which paled by comparison to the 405 sales in February 2008. This equates to approx. a 28% decline in unit sales making it the lowest total recorded in this decade.
However, in my opinion, the glass is half full. Active listings ...
Posted by Jeff Gingerich
on March 3, 2009