First-Time Home Buyers’ Tax Credit (HBTC)Coming into force: 2022 and subsequent taxation years. Budget 2022 proposes to increase the amount used to calculate the First-Time Home Buyers’ Tax Credit to $10,000 (from $5,000), which would provide a tax credit of up to $1,500 to eligible home buyers. This amendment applies to the 2022 and subsequent taxation […]

518 homes were sold September 2022 through MLS® System of the Waterloo Region Association of REALTORS®, a decrease of 25 per cent compared to September 2021 and 31 per cent below the previous 5-year average for the month. The number of months of inventory is up 180 per cent compared to September of last year, […]

Trends of the April 2022 housing market shows that Bank of Canada effectively fights high inflation. Mortgage rates rose sharply over the past four weeks, prompting home-buyers to delay their purchase. It will be interesting to see the balance the Bank of Canada strikes between combatting inflation versus stunting economic growth and related government revenues as […]

611 residential homes sold in July 2021 through the MLS® System of the Kitchener-Waterloo Association of REALTORS® (KWAR). This is a decrease of 17 per cent compared to July 2020. A very low inventory and the buyers’ strong demand makes Waterloo Region one of the most competitive markets in Ontario. Here are highlights of KWAR […]

Before to rent a property that you own, you have to know the basics of the rental legislation in Ontario. It is a Residential Tenancies Act. Don’t even start without reading RTA first. If you are a new landlords, my advise would be to get to know other legislative acts besides RTA. What are they, […]

What to expect on Kitchener-Waterloo-Cambridge housing market in 2021? According to the outlook prepared by Statistics Canada and ReMax Report Survey, K-W and Cambridge are anticipating a home price growth around 7%. Despite the disruption of the virus, the average home price in Waterloo region went up almost 19% in 2020. It shows one of […]

Before to rent a property that you own, you have to know the basics of the rental legislation in Ontario. It is a Residential Tenancies Act. Don’t even start without reading RTA first. If you are a new landlords, my advise would be to get to know other lagislative acts besides RTA. What are they? […]

This is a rhetorical question that I hear every year since I started my real estate career. Soon it will be 13 years. Realtors, along with the public, have access to different sources that can help predict the outcomes of what is going to happen to real estate prices. Since August 2020 I ran across […]

Carpet free condo unit in the heart of Downtown. Walk to everything: parks, trails, LRT, Farmer’s Market, Centre in the Square and many more attractions. Large living room with walk out to the balcony, spacious bedroom, updated washroom. On-site amenities include fitness room, beautiful party room, computer area with free WiFi. Enjoy the benefits of […]

When you are a first-time home-buyer, you are facing a tough decision. A tough choice to make. What is better to buy – a house, a townhome, or maybe an apartment in a high-rise condo? Where to buy? In an old established neighbourhood or a new suburb? It is a lifestyle choice, and you need […]

November 2019 released new changes to real estate agents and brokerages in Ontario. The draft bill to change the Real Estate and Business Brokers Act, 2002 (REEBA 2002) has not yet been approved. The new act will be called the Trust in Real Estate Services Act. The real estate market in Ontario has seen big […]

Last month (October 2019) Kitchener-Waterloo Association of Realtors’ release reported that “strong home sales continued in face of low inventory”. Home prices continuing to rise as inventory levels still well below historical averages. This is highly competitive real estate market, and the importance of working with a realtor at a seller’s market is very obvious. […]

Canada Mortgage and Housing Corporation (CMHC) just released Market Outlook 2020 for major Canadian cities. Let’s have a look at our area Kitchener-Cambridge-Waterloo (KCW). Here are the highlights: Seasonally adjusted average prices in Kitchener-Cambridge-Waterloo (KCW) have been climbing since the fourth quarter of 2018; For the next two years (2020-2021) the resale market in KCW […]

When you purchase a home, you hope it will go up in value. Like a good investment. But there’s something else that you need to remember: the neighbourhood. The neighbourhood plays a key role in what the home will be worth in the years to come. If the neighbourhood goes down in terms of desirability, […]

KWAR (Kitchener-Waterloo Association of REALTORS®) published home sales stats of July 2019. Here are numbers: 586 residential properties sold in July, representing an increase of 15.1 per cent compared to the same month last year; The average sale price of all residential properties sold in July increased by 9.3 per cent to $521,101 compared to […]

Usually, when people ask this question they are thinking about what will devalue their property. There are several aspects that can reduce home sale price. One of the most important is location. If you live close to the airport or your home backs on highway or train tracks, it will affect your home value negatively. […]

The new public transit we have been waiting for the last 5 years is here! ION trains will start full operation on Friday, June 21 this year. It’s really exiting! Years of construction that caused lots of inconveninece to drivers and passengers are over. Last 18 months, when a train system was under testing, changed […]

Any home sale requires a lot of cleaning. This kind of work will double if you have pets in the house. Pets affect home sales in different ways. Usually negative ways. First, it’s the cleanliness and ordor. Animal hair everywhere and strong pet ordor will undoubtedly reduce the home value. Also, it can be a […]

In my earlier blog I mentioned a name of Oxana Petrenko, mortgage agent who is ready to help our clients with any mortgage products available today. Last time Oxana touched a subject of affordable home ownership program. Now she would like to share information that will be interesting for those who is buying an older […]

Buying real estate most of buyers need to borrow some amount to be able to close a transaction. In these cases, purchase of real estate goes together with financing that creates constant communication between home-buyers and mortgage professionals until the deal is closed. Our brokerage works closely with Oxana Petrenko, mortgage agent, and we asked […]

Home sales slowed in December while home prices increased Here are major points of 2018 statistics: The number of homes sold and purchased in 2018 went down 11.1% if to compare with 2017 Average sale price of all residential properties sold in 2018 increased 3.4% Demand was continuing to outpace supply Average days to sell in 2018 was 24 days, compared […]

Real estate prices in Canada increased in average 44% since 2014. It was a wild run over the past few years. Though Canadian Real Estate Association numbers showed that price increase slowed down October and November 2018. Price growth is now close to target inflation, but over the past 5 years they’ve increased by over 44%. This […]

NOVEMBER HOME SALES KITCHENER-WATERLOO, ON Last month a total of 483 residential properties sold in Kitchener-Waterloo and area through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR). Home sales were up 14.2 per cent in November compared to the same month last year, and up 19 per cent compared to the previous […]

Most of buyers ask this question after they were not successful in their house hunt during fall. Usually when I hear this question, I can read a hope in the eyes of a person who asks that home prices will go down over the winter. Some home hunters say, “it will be correction of a […]

Эксклюзивный контракт на продажу дома Иногда, проезжая или прохаживаясь мимо дома, выставленного на продажу, мы замечаем на вывеске о продаже слово “экслюзивно”. Эксклюзивный контракт на продажу дома означает, что ваш риэлтор будет заниматься маркетингом и продажей вашего дома, не выставляя его в общую риэлторскую базу MLS, и все потенциальные покупатели, заинтерисовавшись вашим домом, должны обращаться […]

For most home sellers winter does not seem the right time to sell. Maybe it would be better to wait until spring when there are more buyers. The answer to this question will depend on number of factors. There are different personal circumstances. However, a personal situation is not the only factor to take into […]

On October 16, 2018 Royal LePage released a House Price Survey that showed healthy growth in home prices across Kitchener/Waterloo/Cambridge in the third quarter of 2018. During the period of one year, an average price of a home in the region rose 6.0 per cent to $508,391 since October 2017. Just for comparison over the […]

Canada is the third country that legalized marihuana. We have heard lots of discussions regarding it with cons and pros of the parties. Now (since October 17, 2018) it is a reality. Every household in Waterloo region got a flyer regarding our rights and responsibilities in growing, consumption and distribution of cannabis. However, this new […]

Zoocasa has released a new report- Ontario’s most affordable housing markets – showing which of the province’s housing markets offers the best deal for home buyers. Here is short synopsis how they came to their numbers: Average home price (Zoocasa used information of 28 housing markets across the province) were aligned with median household income; […]

Home-owners thinking about to sell their home never consider the fact that many homes do not sell. Some homes do not sell even during a seller’s market. Here are some reasons why it happens. Asking Price Many sellers rely on emotions pricing their home. It is understandable. We are attached to our homes, and it […]

Amazing Hespeler open concept family home located within minutes from HWY 401. Cute and cozy enclosed porch. Ceramic flooring in foyer, kitchen and dining area. Bright windows throughout, new stove and dishwasher, sunken living room with gas fireplace and hardwood flooring with walk-out to private fenced backyard. Beautiful landscaping and custom build shed. Large deck, […]

Иногда, проезжая или прохаживаясь мимо дома, выставленного на продажу, мы замечаем на вывеске о продаже слово “экслюзивно”. Эксклюзивный контракт на продажу дома означает, что ваш риэлтор будет заниматься маркетингом и продажей вашего дома, не выставляя его в общую риэлторскую базу MLS, и все потенциальные покупатели, заинтерисовавшись вашим домом, должны обращаться напрямую к вашему агенту. Другими […]

We have only one chance to make a first impression, and my suggestion for sellers would be to invest some time and money into home preparation and staging. How much will it cost? It depends on a condition of a home. Usually preparation costs include painting, repairs, cleaning. If home is cluttered with lots of […]

Are you ready to sell your home? Do not forget about the closing costs. In my earlier blog, I was talking about costs involved to prepare your home for sale. Closing costs are not included into these preparation expenses. Talking about closing costs, you have to keep an eye on the following: Real estate agent […]

Все больше покупателей на рынке недвижимости делают свой выбор в пользу кондоминиумного жилья, особенного если это жилье выглядит в ввиде многоэтажных домов. Согласно последней переписи (2016) 1.9 млн канадцев живут в кондоминиумах. Для сравнения данные 2013 года показывали, что немногим более 1.3 млн канадцев проживали в многоэтажках. Прогнозы начала 2000х уже тогда обещали, что кондоминиумный […]

What is buyer agency or representation? In my earlier post I showed you a difference between a client and customer in real estate. I described two situations where you as a buyer want an answer to the same question. I mentioned briefly what it is the buyer agency in real estate. Now I would like […]

Is there any difference between a client and customer in real estate? What is a buyer agency (representation) and buyer customer service? Searching for a home, most buyers sign a Buyer Representation Agreement (BRA) after realtors explain them the difference. BRA is a legal agreement, but it is not a legal requirement to sign it […]

What we should know about coming cannabis legislation? In light of the upcoming cannabis legislation this October many landlords update leasing documents. The main reason is to ensure acceptable standards of property and to avoid conflict among the tenant (if it is a multi-family home). When cannabis becomes legal, its use will be as legal […]

In the beginning of August Kitchener-Waterloo Association of Realtors released a regular report of July sales (2018) in the region of Waterloo. Before to go to numbers, I would like to mark general trends in our local residential real estate. At least how we can see them at this point, and what might be interested […]

On July 4, 2018 the Government of Ontario announced that residential rent increases between January 1 and December 31, 2019 will be capped at a maximum of 1.8%. As in previous years, any increase exceeding that amount must receive approval from the Landlord and Tenant Board. The annual provincial guideline applies to most rental units that fall under […]

Рынок недвижимости Китченера – Ватерло приблизительно насчитывает 128 тысяч домов. Разнообразие их велико, и может удовлетворить самые разные требования и бюджет. Но мне хотелось бы сейчас вспомнить ту часть недвижимости, объекты которой несут культурное наследие. Несмотря на недолгую историю наших городов такие у нас имеются, и немало. Возраст домов города Китченера ведет свое начало от […]

What is difference between registration and occupancy in new condominiums? If any? Buyers of new condos don’t officially own their units until the moment a condominium got registered. When a condo got registered in a Land Registry office, a corporation is created, and a builder (who was still on the title) transfers the title to […]

Lots of condo developments are coming to downtown Kitchener that will reshape the core of the city. Population of the city downtown will double within the next few years. Lots of changes, and we will watch them.  According to the city officials “it’s probably the most transformational time in the downtown’s history, just because of […]

What is your walk score? Каков рейтинг пешеходности вашего дома? Просматривая объявления объектов недвижимости, выставленных на продажу, мы все чаще наталкиваемся на оценку удобства их расположения для пешеходов, так называемый walkability level. Еще пару лет назад, никто и не думал соединять жилую недвижимость с рейтингом высокой или низкой пешеходности (walk score в свободном переводе автора), […]

People decide to move for many reasons – relocation because of a better job, a growing family, a better neighbourhood, etc. Once you decide moving makes sense to you, you have to decide whether it makes more sense to buy first or sell first. During home and selling process, you will have to make another […]

Working as a full time realtor, I’ve heard this questions hundreds of times – what is better for us to do – to buy or sell first? The answer depends on a current market performance. We agree that selling takes strategy, and buying takes experience. Before to start your real estate purchase or sale, make […]

Interesting information can be found in a new May 2018 CIBC report. Here is synopsis of the report: Every fourth Canadian homeowner is already a landlord. People rent out either their primary residence or their rental properties. Sometimes even both; The average amount they earn in income is $1,287 each month; 72% of homeowners believe […]

What a wonderful place we live in! Find two minutes to watch this video: Kitchener-Waterloo-Cambridge

Все мы люди образованные и периодически встречаем информацию о том, что есть мол такие дома, которые банк забирает у должников и продаёт намного дешевле себестоимости. Кому-то из нас, возможно, приходилось видеть на улицах города табличку “bank owned”, стоящую около дома. И мысли сразу начинали работать в направлении: “А вот бы… А неплохо было бы сейчас […]

Let us look at Kitchener-Waterloo homes sales in the previous month, and how this statistics looks in a historical context. According to KWAR (Kitchener-Waterloo Association of Relators) May 2018 was quite active – 12.5% up compared to April 2018, and down 15.3% compared to May 2017. All of us still remember the frenzy sales in […]

Итак, вы иммигрируете в Канаду. Переезд в другую страну связан с решением многих проблем – работа, жильё, школа для детей, новый круг общения и т.д. Но прежде всего, конечно, крыша над головой. По опыту могу сказать, что этих “крыш” вы смените несколько и столкнётесь с их многообразием. Вот как различается жильё в Канаде: Большая часть […]

Current federal legislation will allow inhabitants to grow up to four plants inside their homes starting from July this year. There are concerns that buyers and sellers of residential real estate maybe harmed because of this law. Harvesting cannabis indoors even on a small scale leads to high humidity and temperatures inside. This creates the […]

Who owns a tree on a property line in the province of Ontario? If you purchased a tree and planted it on a property line, your neighbour is getting one of the owners of this tree (even he paid nothing for a tree and service to plant it). Every tree that is growing on a […]

Owning a property, it also means to have neighbours. I will agree with a saying that a good neighbour increases the value of your property. The other expression states that good fences make good neighbours. But a good fence always means at least one condition that it is on a correct boundary (property) line. Is […]

Starting April 20, 2018 landlords of most residential rental units (single detached homes, semis, townhouses, apartments in duplexes, triplexes, etc., condo apartments) must use a new residential lease form for all new leases. Relationship between landlords and tenants is still governed by the Ontario Residential Tenancies Act. Then what was the purpose of the new […]

Are you ready to purchase your home? This information can be really useful for the first time home-buyers. Do not forget about the closing costs. It is difficult to tell an exact amount, but rough estimation will be 1.5-2% of your purchase price. This amount will cover the following: Ontario Land Transfer Tax. The biggest […]

Most of my buyer clients ask one and the same question – what is better to buy, a new built home or resale? As a realtor my business is to help homebuyers to find an answer on their own. It is not that difficult when you know what to start with. Buyers have to answer […]

Situation around parking in downtown Kitchener and uptown Waterloo is getting more challenging. One of the reason is that many parking lots are being sold to developers for future condominium projects. Availability for parking in core areas of Kitchener and Waterloo is shrinking, so the demand is going up. The municipality in search of alternatives […]

April 2018 home sales were almost 14% higher than in March, but down 19.6% compared to April last year. It would be fair to add that home sales in April 2017 were record breaking number. According to KWAR president “KW home sales in April were as brisk as the temperatures”. What was interesting to see […]

We already talked about walkability in out earlier post – Kitchener, Waterloo and Cambridge neighbourhoods with highest Walk Score. Let’s look how walkability affects home prices. The basic theory in real estate is that the more attractive the location, the higher the value of the home. Since 2007 The Real Estate Investment Network (REIN) released […]

The basic theory in real estate is that the more attractive the location, the higher the value of the home. What is Walk Score®? It is an organization that measures the walkability of any address, based on walking distances to amenities, including grocery stores, supermarkets, coffee shops, movie theaters, parks, pharmacies, restaurants, schools, libraries, gyms, […]

First thing – buy the house you know that you can afford. The less expensive house means you could still make your payments even with less income to the budget. Talk to your mortgage broker what is the best ratio for you to use? Some lenders suggest that you can afford mortgage payments totaling about […]

As we mentioned in our March 2018 housing report, Kitchener-Waterloo market is still attractive for sellers, and a competitive for buyers. Although the power is shifting toward home buyers again. And here is why? Stress test on mortgages introduced by the government in the beginning of 2018 is hard on consumers. Rising home prices combined […]

Kitchener-Waterloo real estate sales March 2018 – region remains an attractive market for sellers, and a competitive market for buyers. Looking at the numbers of Ontario Real Estate Association March 2018 report, you can think that the real estate market can may be stagnating in Ontario as a whole. But not in Kitchener-Waterloo. Region with […]