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KWAR REALTORS® Distribute $18,000 in Donations to Local Charities

Kitchener-Waterloo Association of REALTORS® recently presented donations totaling just over $18,000 to three local charities.

Habitat for Humanity Waterloo Region, House of Friendship, and YWCA Kitchener-Waterloo have each received $6,111 as a result of their successful grant applications to the REALTORS Care Foundation (RCF).

“Our members are proud to support the RCF through the Every Realtor campaign,” says Tony Schmidt, President of KWAR. “RCF funds shelter-related charities across Ontario. KWAR’s participation ensures that investments are being directed right back into our community through local charities. Every one of these charities is helping to improve the quality of life in Waterloo region, and it’s very gratifying for us to help these great local organizations reach their goals.”

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What’s all the BZZZZZ about?

Kitchener the 7th Bee City in Ontario committed to providing a healthy environment for people and pollinators!

And with Spring just around the corner, is it time to think spring, the birds and the bees?

Some exciting initiatives are taking place in Kitchener, including a 2018 project at Huron Natural Area that will see eight hectares of meadow habitat restored and enhanced with plantings of forbs, grasses and shrubs to support native pollinators

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NEW – details, reports and more

Follow the link denisPellerin.ca/info and receive no obligation no charge info for sellers, buyers, those looking for tidbits on the Waterloo Region or a no cost property valuation.

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Bank of Canada raising rates

here is the link to the article. Contact me ASAP to see how you can maneuver this increase.

https://www.therecord.com/news-story/8077361-bank-of-canada-raises-interest-rate-to-1-25-/

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2018 Going Forward

By now most of you have heard of the results for 2017 in K-W. The market was vibrant in the 1st half of the year, low inventories and high value increases. The second half was a more normal market for our area with far fewer multiple offers that were driving the prices up, but the prices of homes has stabilized somewhat,  no big crazy jumps making it much better for buyers all the while giving the sellers a nice boost in equity.

I’m looking forward to 2018 and pointing my way to your achievements in the real estate market.

You can reach me at dPellerin@coldwellBankerPBR.com or my phone at (519) 577-8181.

 

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Real Estate as it Happened in November 2017

KITCHENER-WATERLOO, –– Last month a total of 425 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 in November were down 20.1 per cent compared to the same month last year, but on par with the previous 5-year November average of 424 sale; a typical November.

Compared to November 2016, the average price of all residential properties increased 8% to $445,363. Detached homes averaged at $515,721, up by 8.9%. An apartment style condominium was $277,660 for an increase of 30.7%. Townhomes and semis sold for an average of $369,678 (up 19.3 per cent) and $376,677 (up 15.1 per cent) respectively.

For detailed information on your property, contact me, Denis Pellerin at (519)577-8181

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An interview with Terry O’Reilly by By Diane Slawych

Why do real estate agents, perhaps more than people in any other service industry, so often use their photos on business cards and other advertisements?

O’Reilly: My research told me that this practice started in the late 1800s/early 1900s. People were moving to cities from the country and unscrupulous conmen would meet these people at train stations and sell them non-existent property. These land sellers were called “land sharks” and took advantage of good people looking to start a new life. The term “swampland in Florida” was coined in this period.
Legitimate real estate agents wanted to distance themselves from these scam artists, so they began to organize by creating real estate boards and they established standards of practice. Using a face in their marketing and opening offices with fixed addresses suggested accountability. No conman would ever advertise his face and they certainly didn’t want offices where they could be tracked down. In other words, the use of a face in real estate marketing was the ultimate sign of trust.

In your show you mention a fascinating study done by three American universities that looked at physical attractiveness as it relates to a real estate professional’s success. Could you elaborate?

O’Reilly: It was an interesting study because this is an industry that relies on faces. Essentially, it said that attractive agents had listings with higher selling prices and higher commissions. The study confirmed that physical attractiveness is an asset. But, there was an interesting side note: Less attractive agents had lower selling prices but more listings and more sales. Which I interpret to mean, they worked harder. Attractive people use their beauty in place of other work skills. Less attractive people must work harder and they do.

You discovered that real estate played an important role in the evolution of the advertising business. How so?

O’Reilly: To begin with, the very first advertising agency in North America was started by a Philadelphia real estate agent named Volney Palmer around 1837. Second, the very first radio commercial ever aired was for a real estate development. It was broadcast in 1922 on radio station WEAF in New York. Close to $14 billion is spent on real estate advertising in North America annually, so it is a powerful marketing sector.

See the full article here: http://www.remonline.com/cbcs-terry-oreilly-world-real-estate-marketing/

fn: Do to my years of business to business work I have never had my photo on my cards. However, if you’re interested in some good old down to earth real estate talk, give me a call, I hope to pleasantly surprise you. Denis (519) 577-8181

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October Residential Sales

Under the umbrella of the KWAR, for the month of October sales were above the previous 5-year October average of 464 sales. So we are seeing good activity but sales fell 16.6%compared to September’s activity.
VALUES
The average price of all residential properties sold last month increased 11.4% to $454,398 compared to October 2016. Detached homes sold for an average price of $541,368, an increase of 13.1% compared to October 2016. The average sale price for an apartment style condominium was $249,993 for an increase of 11%, Townhomes and semis sold for an average of $349,316 up 13.7% and $354,668 – 8% respectively.

MORTGAGE CHANGES
Last month the Office of the Superintendent of Financial Institutions Canada (OSFI) revised it residential mortgage underwriting practices, which come into effect on January 1, 2018. The change will require the minimum qualifying rate for uninsured mortgages to be the greater of the five-year benchmark rate published by the Bank of Canada or the contractual mortgage rate +2%.
Those effected by this change may be first time buyers and the marginally qualified.

For more information or for property valuation contact me, Denis Pellerin at (519) 577-8181 or by email dpellerin@coldwellbankerpbr.com