Jeff Gingerich - Blog - Jeff Gingerich

Recent Blog Posts by Jeff Gingerich
Seller's Market Continues in Kitchener Waterloo Real Estate As anyone who tried to buy a home in March will tell you, Kitchener Waterloo real estate remains a seller's market. Residential MLS sales in March totalled 482 with 33 new and 449 resales. New homes sales were resurgent as the 33 sales represented an 8% drop over the 36 sold in March 2011. This is good news for Kitchener Waterloo homebuilders as regular readers ... Posted by Jeff Gingerich on April 3, 2012		More
Now Is The Perfect Time To Sell Your Kitchener Waterloo Investment Property With prices having doubled in the past ten years, now is the perfect time to sell your Kitchener Waterloo investment property. I read a brilliant piece on buying investment real estate by Tom Bradley from the Globe and Mail this weekend. The end of the third last paragraph states: "Real estate has enjoyed a long upward cycle and with 12 good years comes a high ... Posted by Jeff Gingerich on March 18, 2012		More
Kitchener Waterloo Real Estate 2010 Review Residential real estate sales in Kitchener Waterloo remained robust in 2010 with 4794 MLS sales. This represented a slight decrease over 2009 sales of 4913. Sales activity was particularly strong in the early months of 2010. Buyers and sellers scrambled to beat the introduction of the Harmonized Sales Tax on July 1st. Spring market activity was further heightened by ... Posted by Jeff Gingerich on January 5, 2011		More
When You Pay Too Little, You Sometimes Lose Everything The home pictured above is currently for sale in the wonderful Westvale neighbourhood of Waterloo(note I'm biased as I live there). While attending an open house, I spoke with the listing agent who related a curious story to me. It seems in an effort to save commission, the seller initially chose a discount real estate brokerage to market the home. During one of the ... Posted by Jeff Gingerich on July 13, 2010		More
Kitchener-Waterloo Real Estate Update February 2010 The Olympic cauldron and our Canadian athletes weren't the only things on fire in February. Preliminary MLS data from the Kitchener-Waterloo Real Estate Board indicates a strong seller's market in K-W with 382 residential sales. Sellers received a sizzling 98.9 per cent of the asking price on average! Resale homes totalled 341 ... Posted by Jeff Gingerich on March 2, 2010		More
Kitchener-Waterloo Power of Sale Update January 2010 The beginning of 2010 has brought about increased residential power of sale activity in Kitchener-Waterloo. As of February 15th, there were 11 properties listed on MLS on the Kitchener-Waterloo Real Estate Board under power of sale. This marks a significant increase over the 5 power of sale properties active on January 15th. The median asking price was $249,900 and ... Posted by Jeff Gingerich on February 20, 2010		More
January 2010 Real Estate Sales Shine In Kitchener-Waterloo While Florida saw snow in January, Kitchener-Waterloo received much less than normal. This relatively mild weather and continuing low interest rates led to an active residential real estate market in K-W in January. Preliminary sales through the K-W Real Estate Board indicate 290 residential sales. This represents a 34% increase over the 217 sales of January ... Posted by Jeff Gingerich on February 3, 2010		More
2009 Kitchener-Waterloo Real Estate Sales Surpass Expectations The headlines are hard to avoid these days as the mainstream media rush to report December real estate sales in Canada at an all-time high. The Canadian Real Estate Association reports that the number of sales nationwide was up 7.7% in 2009 over 2008 and prices were up 5%, on average, versus a drop of 1% in 2008. As I've stressed before, markets are local and ... Posted by Jeff Gingerich on January 18, 2010		More
Kitchener-Waterloo Real Estate Sales Forecast 2010 Forecasting the weather or anything else is always tricky and residential real estate sales in Kitchener-Waterloo are no exception. My predictions for 2009 were for a buyer's market by spring, MLS sales of 3725 properties and declining prices of 10-15%. As detailed in my previous post, thankfully none of this came to pass due to government stimulus and low interest rates. An ... Posted by Jeff Gingerich on January 4, 2010		More
Kitchener-Waterloo Real Estate Update November 2009 November unit sales in Kitchener-Waterloo were up a sizzling 76% over November, 2008 according to figures released by the Kitchener-Waterloo Real Estate Board. A November record 422 properties changed hands versus 240 in November, 2008. Another November record was set as the median sale price in K-W hit $248,750 versus $234,500 in 2008, an increase of 6%. The return of consumer ... Posted by Jeff Gingerich on December 7, 2009		More
Kitchener-Waterloo Market Update September 2009 The Kitchener-Waterloo Real Estate Board reports 375 sales in K-W for September 2009 which represents a 15% decline over the 441 sales reported in September 2008. Of note, the end of $0 down and 40 year amortization program was rapidly approaching in September 2008 and sales were artificially high as a result. The median price for September 2009 sales in K-W was a September record ... Posted by Jeff Gingerich on October 4, 2009		More
August 2009 Market Update The Kitchener-Waterloo Real Estate Board has released August 2009 sales data. In K-W, there were 482 sales matching a record set in 2007. The average price declined from August 2008 by slightly more than $10 000 and the median price dipped to $237,200 versus $242,000 in August 2008. Condominium sales were up 67% over August 2008 as record interest rates improved ... Posted by Jeff Gingerich on September 3, 2009		More
Irrational Exuberance? 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		More
If I Had a Million Dollars 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		More
A Tale of 2 Markets 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		More
Who's Minding the Fort? 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		More
Chicken Little 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		More
February 2009 Sales for Kitchener-Waterloo 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		More
January 2009 Sales Results for Kitchener-Waterloo Preliminary figures from the Kitchener-Waterloo Real Estate Board show residential unit sales in January 2009 totalled 217. This figure represents a decline of approx. 28% from January 2008's total of 301. Active residential listings in Kitchener-Waterloo total 1240 or almost a 6 month supply. This would indicate a buyer's market. However, to put our local real estate ... Posted by Jeff Gingerich on February 3, 2009		More
Kitchener-Waterloo Residential Sales 2008 Year in Review Preliminary sales figures indicate that 2008 sales were the 3rd highest on record for the K-W Real Estate Board. The 4966 sales trailed record-setting totals for 2007 with 5546, a decline of approx. 10%. The sales for 2008 were more in line with the 2005 and 2006 sales of 4988 and 4905 respectively. Of note, the 4th quarter sales from Oct. 1-Dec. 31, 2008 were 766 compared ... Posted by Jeff Gingerich on January 6, 2009		More
December 2008 Residential Sales Results in K-W Preliminary sales results from the Kitchener-Waterloo Real Estate Board indicate unit sales fell in December by approx. 25% year-over-year. In December 2008, there were 171 sales of single family homes versus 229 for December 2007. Approx. 60% of sales were under $250 000 and approx. 10% of sales were over $400 000. There are currently 1044 active residential listings. Check ... Posted by Jeff Gingerich on January 6, 2009		More

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