K-W Real Estate News from Tim Thiessen May 2018   
  Real Estate News




Tim Thiessen
Sales Representative

Waterloo, Ontario
519-590-8468
www.TIMSELLSkw.com


 
When you put your home on the market, it's important to take care of certain details to ensure buyers don't head out the door in disgust. This month's article offers six buyer turnoffs that you need to be aware of.

There are also some great ideas on how to save money at the pump as well as a few tips on how to seasonally transform your home with a fresh spring theme.

Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

Tim

In this issue...
Kitchener-Waterloo Real Estate Market Update 
April was a brisk month for Kitchener-Waterloo home sales.

In April, the 616 residential properties sold through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were up 13.7 per cent compared to last month and down 19.6 per cent compared to home sales a year ago.

“Home sales in April were as brisk as the temperatures”, says Tony Schmidt, KWAR President. “While down from last year’s record breaking number of sales, it was a slightly more active April than average historically speaking.”

Residential sales in April included 343 detached (down 30.7 per cent compared to April 2017), and 185 condominium units (up 12.8 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 41 semi-detached homes (down 22.5 per cent) and 46 freehold townhouses (down 13.2 per cent).

The average sale price of all residential properties sold in April decreased 6.6 per cent to $478,578 compared to the same month a year ago. Detached homes sold for an average price of $569,159 a decrease of 4.2 per cent compared to April of last year. During this same period, the average sale price for an apartment style condominium was $296,958, an increase of 10 per cent. Townhomes and semis sold for an average of $386,072 (up 2.5 per cent) and $402,842 (down 3.3 per cent) respectively.

The median price of all residential properties sold last month was down 7.4 per cent compared to April of last year at $440,000, and the median price of a detached home during the same period decreased 3.9 per cent to $511,750. The average days it took to sell a home in April was 21 days, compared to 11 days in April 2017.

REALTORS® listed 974 residential properties in K-W and area last month, down 2.2 per cent compared to April of 2017. The number of active residential listings on the KWAR’s MLS® System to the end of April totalled 993, which is 78.6 per cent more than April of last year but still significantly below the historical (2007-2016) ten-year average of 1,637 listings for April.

“Looking closer at how the forces of supply and demand were at work last month, it becomes really clear that the question of it being a buyer’s or seller’s market really depends on which price range you’re in,” notes Schmidt. “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.”

Schmidt believes the new stress test introduced earlier this year is fueling demand for lower priced homes and making it more difficult for prospective move-up buyers to get financing.

The Kitchener-Waterloo Multicultural Festival 
Celebrate the rich diversity our amazing community has to offer!

Every summer, for the past 50 years, our community has celebrated ethnic diversity at the Kitchener-Waterloo Multicultural Festival!

Sample a variety of delicious food from all over the world while enjoying the entertainers who represent over 30 countries on the main stage. There will also be over 100 vendors along with a variety of community organizations in the International Marketplace.

This year, the festival will be held on Saturday, June 23rd and Sunday, June 24th in beautiful Victoria Park, come rain or shine from 12 - 8 p.m. so mark your calendar now!

The Kitchener-Waterloo Multicultural Festival is an annual tradition that’s fun for the entire family so bring everyone along. Hope to see you there!

Beware of Buyer Turn-offs 
Address these common turn-offs so buyers don’t run for the door!

When you put your home on the market, it must appeal to a large cross-section of buyers in order to generate a frenzy of activity.

Buying a home is such an emotional decision that even a seemingly small issue can create a bad impression. Here are six of the top turn-offs you need to know:

  1. Get Out - Make yourself scarce during showings as nothing turns buyers off more than a stalking seller.

  2. Fido & Fluffy - Pets and their associated smells will put many buyers off so relocate them before showings and hide their bed, bones, toys, etc.

  3. Killer Clutter - Buyers want to imagine themselves living in your home but most can’t look past other people's clutter, even if it’s tucked away in closets and cupboards.

  4. Problems Down Below - If your basement’s unfinished, you’ll want to show that it has potential so investigate any signs of moisture and paint the floor white to make it feel more spacious.

  5. Grubby Grout - It's imperative that your entire home remains thoroughly cleaned right down to the inside of your microwave. Neglected personal spaces like bathrooms will have them running for the door!

  6. Forgo the Fish Fry - It's best not to cook fish, bacon or other strong smelling foods while your home's on the market. Always air out your home by opening the windows instead of using artificial scents as some people are allergic.

When you sell your home, your goal is to get the highest price in the shortest amount of time. Sometimes the best way to do that is by focusing on the small stuff. It's definitely worth the effort and the good news is that depersonalizing, decluttering and thoroughly cleaning your home doesn't cost a fortune.

Tips On How to Guzzle Less Gas 
Modifying your driving habits can save you loads at the pump!

Maximizing your vehicle's fuel efficiency will not only save you money but you'll also be doing your bit for the environment! Here are a few tips that'll pay off at the pump:

  1. Turn it Off - Don't idle as it unnecessarily wastes fuel.

  2. Take it In - Regular tune-ups will increase your car's efficiency.

  3. Check & Inflate - Keep your tires inflated to the proper pressure.

  4. Slow Down - Speeding increases fuel consumption by as much as 50%!

  5. Don't Brake Down - Don't constantly jam on your brakes and then rapidly accelerate.

  6. There's an App for That! - Download an app that tracks the cheapest local gas prices.

  7. Lighten Up - Remove unnecessary items from your vehicle as extra weight reduces fuel efficiency.

The best way to save on gas is to keep your car in the driveway, so next time you climb behind the wheel, ask yourself if you can walk there instead. Just a few small changes to your driving habits such as combining errands or carpooling to work will save you a small fortune over time.

Spring Your Home Decor into Action 
Transform and refresh your home now that spring is here!

Spring is a time of renewal so why not bring the season's vitality into your home by making some simple decorating changes. Here are a few ideas that'll help you create a fresh spring feel:

  • Swap out heavy curtains for blinds or sheers.

  • Bring nature inside with a few plants or some fresh cut flowers.

  • Switch your cushion covers to spring shades such as yellows and purples.

Celebrate spring's arrival by bringing a breath of fresh air into your home. Just a few simple changes and a good spring clean can reflect the season’s sunny, fresh energy!



PS Are you sick of scouring the paper and MLS sites looking for homes?  Tired of playing telephone tag with agents only to hear the home's already sold?  Sit back, relax and let me do the work for you!  Just visit my website and check off the features you're looking for.  Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home.


Not meant to solicit clients already under contract.