The Deutschmann Team
RE/MAX TWIN CITY REALTY INC.
Phone: (519) 841-6511
Email: info@elitere.ca
Website: www.elitere.ca
 
 

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We hope this message finds you doing well, and in good health, as we head into the spring months.

With the Canadian real estate market remaining a hot topic across all news channels, and housing prices achieving record breaking gains across the country, our team has had a remarkably busy start to 2021!

For months now, historically low mortgage rates have combined with increased buyer demand for bigger living spaces (pandemic driven by remote working/schooling and people spending more time at home), and a lack of supply, have lifted housing prices to new highs.

In addition to this, there are 2 additional factors driving strong housing demand.

  1. Buyers that are worried they will miss out from the boom.
  2. Homebuyers “flocking in” from nearby major metropolitan cities, which is impacting our Region in a big way. These homebuyers are “flocking” in record numbers, as long commute times are no longer a concern thanks to remote working, and city entertainment options have diminished.   Why pay a premium to live in an urban centre when a down payment can go so much further in the suburbs? 

Will the real estate market continue to make record breaking gains as we head further into 2021? Only time will tell, however, many worry that the market is moving up too much too fast.

Here is a look at how the real estate market performed in Waterloo Region for February:

INTENSE COMPETITION FOR HOMES IN WATERLOO REGION, LEADS TO A RECORD NUMBER OF HOME SALES IN FEBRUARY

In February, there were:

-737 new listings added to the MLS® System.

-597 residential homes sold.

*The average number of days to sell was 10*

Total Residential Sales in February Included:

-337 detached homes (up 23.9% from Feb 2020)

-101 condo units (up 57.8%)

-47 semi-detached homes (up 46.9%)

-112 townhouses (up 13.1%)

Average Sale Prices in February:

 -$910,126 for a detached home, an increase of 35.4%, and a NEW MILESTONE!

-$415,322 for an apartment-style condo, an increase of 11.9%.

-$609,566 (up 37.5%) and $684,787 (up 41.1%) for townhomes and semis, respectively.

Our real estate market can be a difficult one to navigate and understand at this time. If you have any questions, reach out any time. We are always happy to hear from you, and of course, help 😊.

 

EXCLUSIVE OPPORTUNITY:

We have been presented with the opportunity to sell one remaining unit in the Charlie West Developmeny by Momentum Developments in Downtown Kitchener. For more details, floorplan and pricing visit: https://elitere.ca/exclusive-listings/

FEATURED LISTINGS:

Click here to see all of our fantastic listings and their virtual tours.

https://elitere.ca/team-listings/

 

Picking the Ideal Neighbourhood for your Next Home

 
 
Imagine moving to a neighbourhood that has something you really want, like a nearby golf course, more wooded areas and walking trails, or a faster commute to work. How would that impact your lifestyle?

Chances are, it would have a big impact! In fact, your choice of neighbourhood plays a huge role in your overall enjoyment of your home.

Of course, you might love living where you are right now, but if you’re looking for a change, here are some tips for finding a new area that fits your desired lifestyle:

Make a list. Write down all the things you want in a neighbourhood. For example, you might want to live in a bustling urban setting with nearby access to public transit, theatre, and shopping. Or, you might want just the opposite! The point is to clearly define your ideal neighbourhood.

Go on weekend scouting missions. Check out neighbourhoods that closely fit your criteria. Go for a walk. Check out the local amenities (parks, shopping, nearby golf course, etc.) Look at the types of homes in the area.

Talk to the neighbours. When visiting a targeted neighbourhood, try to chat with a few of the residents. If you see someone walking a dog, for example, say hello. Strike up a conversation. Get an idea of what it’s like to live in the area.

Get the facts. There is a lot of data available on neighbourhoods, including crime statistics, demographics, and more.

Check affordability. There’s no sense trying to get into an area where the homes are priced way beyond what you’re willing to spend. Conversely, you might be surprised by the type of neighbourhood you can afford. Find out.

Finally, the best way to find a home in the neighbourhood of your dreams is to get expert help. If you’re looking for that, call today.

 

What to Do When Closing Dates Don’t Match

 
 
If you want to sell your current property and purchase your next dream home, you might be wondering whether the closing dates need to be on the same day. 
You might even be worried that you’ll lose a property if the closing dates overlap, or you’ll be put out on the street if the dates are far apart!

For the most part, these concerns are unfounded. Thousands of properties change hands every day and usually everything works out just fine. In fact, it’s amazing how often closing dates actually do match!

But, what happens if the closing date of the home you want to buy is days or weeks earlier than the closing date of your own property?

Most lenders anticipate this situation and offer something called “Bridge Financing.” It is a special loan that allows you to purchase the property with the earlier closing date. When your current property closes, the bridge financing ends and your new mortgage – if you need one – begins on the new home.

Alternatively, if the home you want has a later closing date, we will work together to explore options, such as a short-term rental.

 

Make a “Great Things” List

 
 
What’s great about your home? Is it the spacious foyer and generous main floor closet space? Is it the beautiful washroom? Is it the playground that is only a short walking distance away?
Although some properties may look similar at first glance, every home is unique – with features and characteristics that make it special. If you’re considering putting your home on the market, make a list of all the great things about your property that potential buyers will want to know.

Start by thinking about the most desirable features of your home. Write down what you really love about the house and the surrounding area.

Next, think about what comments friends and other visitors to your home have made. Have you ever heard anyone say something like, “I really love your kitchen!” or, “This is such a quiet street”? Those are indications that potential buyers will like those features and characteristics too.

Once you have your list, let’s talk. Together, we’ll review all the great things about your home and area, and decide how to market them effectively.

 

Notable, Quotable, Quotes!

“The question isn’t who is going to let me; it’s who is going to stop me.”
Ayn Rand

A dream becomes a goal when action is taken toward its achievement.”
Bo Bennett

“It matters not what someone is born, but what they grow to be.”
J.K. Rowling

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RE/MAX TWIN CITY REALTY INC. , 83 Erb St W, Waterloo, Ontario N2L 6C2 Canada

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