Posts tagged “condo units

Mortgage Pre-Approvals vs Mortgage Approval and why they are different – Kitchener Waterloo condos for sale

Thinking of buying a home?  A great first step is to talk to the bank or a mortgage broker to find out how much you can afford. Keep in mind though that getting pre-approved is very different then getting actually approved.  Have a look at this video where I explain the differences.

Use the Federal Home Buyers Progam and a Tax Refund to Boost Down payment!

The Deadline for this RRSP season to help with your first home; contribute before March 1, 2013!

It’s RRSP season! If you’re a first-time buyer, consider how the Federal Home Buyers’ Program (HBP) and a tax refund can boost the funds you have available for your purchase.

If you have RRSP contribution room, you should contribute your savings before March 1, 2013 so you can qualify for a 2012 tax refund based on the amount you contribute and your marginal tax rate.  Then, after 90 days, you can redeem those funds under the Home Buyer’s Plan (HBP).  The HBP lets first-time homebuyers withdraw up to $25,000 each (or $50,000 for a couple) tax-free from their RRSPs.  You’ll need to pay those funds back, of course, on a repayment plan, but this strategy can make a substantial difference in the affordability of home ownership!

While your funds are tied up for those 90 days, we can get you an interest rate hold. Let’s have a conversation about the HBP and determine if this strategy can work for you.

For more information on how to use this tool for the purchase of your first home please contact myself at or Tracy Bennett at Bennett Capital

Energy Efficient Home Insurance Rebate – Get 10% of your Premium Refunded! – Kitchener Waterloo Condo and loft

Energy Efficient Home Insurance Rebate – Get 10% of your premium refunded!

CMHC-Green-Home Refund

Genworth Energy Rebate Form

Consumers can receive a 10% refund of their mortgage insurance premiums as well as their extended amortization surcharge if they their amortization is more than a 25 years.

Mortgage Insurance Premium Refund 25 years:

$300,000 mortgage @ 95% LTV Premium Payable*
Standard Premium (95% LTV = 2.75%) $8,250
Energy-Efficient Premium Refund (10%) ($825)
Total Premium $7,425

Mortgage Insurance Premium Refund 30 years:

$300,000 mortgage @ 95% LTV Premium Payable*
Standard Premium (95% LTV = 2.95%) $8,850($600) surcharge refund
Energy-Efficient Premium Refund (10%) ($1425)
Total Premium $7,425

The following chart will give you an idea in Ontario for the rating required for the year you purchased.  You will need to have the rating from the builder or qualfied energy advisor.

* Depending on the closing date of your purchase, the Natural Resources Canada (NRCan) Energy-Efficiency Rating required differs:

For purchases with a closing date… EnerGuide Rating Required
On or after January 1st, 2013 82
From April 1st, 2010 to December 31st, 2012 80
From July 27st, 2005 to March 31st, 2010 77

In order to make an application for a refund you will need to  fill out one of the attached forms and send it to your insurer along with and EnerGuide  report showing your house rating.  The supporting documents cannot be older than five years or a new energy efficiency evaluation will be required.  If you renovate your existing home to increase it’s EnerGuide rating by at least 5 points(to a minimum of 40) you can apply for the refund as well.

I have applied and received funds for those that fit the requirements when my clients have bought a house that meets the guidelines.   Please contact me if you are looking to purchase an Energy Efficient Home in 2013 that is 82 or higher.   At Bennett Capital, we will get you the best rate and apply for the refund for you at closing.

Information provided by Tracy Bennett of Bennett Capital. For More information please contact myself or Tracy at  January 25, 2013

Kitchener Waterloo Real Estate Market Update for 2013 – Remax Realtor Kevin Baker

I listened to Craig Alexander, Chief Economist for TD Bank speak yesterday on where he see’s the Real Estate market going for 2013. Have a look at the video to hear my thoughts on what he had to say.

Hiring a Realtor to Sell Your Condo – Kitchener Waterloo Remax Twin City Realty

With availability of information, mobile phones and websites it is even more important to hire a Realtor based on what they can do for you to get the home sold quickly, efficiently and for the most amount of money. Have a look at this video to hear my thoughts on what you should be looking for when interviewing your Realtor.

When is the Best Time To Sell My Condo? – Kitchener Waterloo Condos and lofts for sale

One of the questions I get asked a lot is….”is now a good time to sell my condo?  With Christmas and winter just around the corner the answer might be different than you think. Have a look at the video to hear my thoughts.

Mortgage Plus Improvements and how it works – Kitchener Waterloo Condo and loft

If you are in the market for a new condo and are having trouble finding something that suits or have found something but it needs a bit of work and you may not have the extra money out-of-pocket, then you can get a mortgage plus improvements type product to help make that home a possibility. Have  a look at the video to hear how the product works.

Status Certificates and Why They Are So Important – Kitchener Waterloo Condos and Lofts

If you are in the process of looking to buy a Condo or Loft space its important to make sure that any offer to purchase that you do has a Status Certificate condition in it. Have a look at the video to hear how you can protect yourself from a large and costly bill.

Commission Free May Not Always Be the Best Option. – Kitchener Waterloo Private Sale

If you have been thinking about Selling your condo and loft on your own here is a great video of one families experience with the process and how eventually they have to hire a Realtor to get the house Sold.

Assessment Value vs Market Value – Kitchener Waterloo Condos and Lofts for sale

The new assessment numbers are coming out in the Kitchener Waterloo Region and I am getting asked is that what my condo is really worth? Have a listen to the video to hear my thoughts on the differences.

How Long Will It Take My House to Sell? – Kitchener Waterloo Condos and Lofts for sale

How long will it take my condo to sell? I get that question a lot from people thinking about putting up their unit on the market. Have a look at the video to hear my thoughts as to how long and to why.

August Condo Sales still strong in Kitchener Waterloo. – Kevin Baker Remax Realtor


KITCHENER-WATERLOO, ON (September 6, 2012) –– There were a total of 495 home sales through the
Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in August,
a decrease of 4.4 percent compared to the 518 homes sold in the same month last year.
On a year-to-date basis, residential home sales remain on par with last year – with a total of 4,492
sales recorded.
August’s residential sales included 322 detached homes (down 7.7 percent), 35 semi-detached (up
6.1 percent), 37 townhouses (up 32.1 percent), and 97 condominium units (down 4 percent).
The average sale price of all residential properties sold in Kitchener-Waterloo and area rose 7.3
percent in August to $314,623, up from $293,303 one year ago. Condominium units increased 9
percent to $231,654, up from $212,513 a year ago. Single detached homes sold for an average price
of $354,064, a 7.6 percent increase compared to a year ago.
“While sales were down in August, we saw fairly strong price gains last month, says Sara Hill, president
of the KWAR. “This was helped along by the fact that 3 residential properties sold for over 1 million
dollars in August, compared to no sales in that price range last August.”
Also putting pressure on August’s average residential sale price was the increase in the number of
homes that sold for more than $400,000. 96 homes were reported sold that came in over $400,000,
representing an increase of 37 percent compared to the 70 homes that sold above that mark in
August 2011.

Information taken from Kitchener Waterloo Real Estate Board.

Pricing Your Condo Effectively in Today’s Market – Kevin Baker Remax Twin city

Coming into a fall market it is more important than ever to price your home properly get maximum dollar and so that it doesn’t become stale in the buying public eyes. Have a listen to hear my thougths as to some things to look for when setting a price for you next home sale

New Mortgage Rules and how they are going to affect you – Kitchener Waterloo condo and lofts for sale

Last week the government mortgage rule changes came into effect. There were 2 major changes that are going to effect people and the amount that they will be able to borrow. Have a listen to the video to hear my thoughts.

Market Update for May in Waterloo Region – Kitchener Waterloo Condos and Lofts


KITCHENER-WATERLOO, ON (June 5, 2012) –– Sales of residential properties via the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were steady last month, keeping in line with the previous 5 year average for May.

Members of the KWAR sold 650 residential properties in May, a decrease of 3.4 percent compared to May of last year. On a year-to-date basis this brings the total number of sales recorded through the MLS® System of the KWAR to 2,844 a 2.7 percent increase compared to 2011.

May’s sales included 440 detached homes (down 1.1%), 117 condominium units (down 10.7%), 50 semi-detached (up 16.7%) and 38 townhouses (up 26.7%).

The average sale price of all residential sales increased 0.5 percent to $312,219 compared with May 2011. Single detached homes sold for an average price of $353,368, which is on par with May of last year. The average price of condominium units sold in May was $206,063 a 2.9 percent decline compared to last year.

The dollar volume of all home sales in May was $202,942,505, down 2.9 percent from year-ago levels.

“Sales in May demonstrate continued strength in the Kitchener-Waterloo housing market”, says Sara Hill, President of KWAR. “What we saw last month is a steady stream of homes sales, combined with an excellent selection of listings on the market, which helped to moderate price gains.”

The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a local REALTOR®.

New Construction vs Condo Conversion vs Resale – Buying a Condo in Kitchener Waterloo

If you are thinking of buying a condo there are 3 types to choose from. Here I talk about the differences between new construction condo’s vs condo conversions and the resale condo market.

Selling Your Condo Privately or Exclusive vs the Multiple Lisiting Service (MLS) – Kevin Baker

I shot this video over a year ago and i think its does a good job of explaining the differences between listing “exclusively” or “Privately” vs the MLS system. Have a look to hear my thoughts on my experience with both.

Assessed Value, Appraised Value and Market Value… What do they all mean? Kitchener Condos and lofts for sale

The value of your home greatly depends on who is looking at it. Ultimately the value you want to know is what a buyer is willing to pay for it but there are several different values put on it depending on the reason. Have a look at the video I shot and see what it all means.

Downsizing? Maybe its time to think about Uncluttering Your life! – Kitchener Waterloo Condos for sale

Uncluttering your Life!

Are you thinking of downsizing to a condo but stuck on what to do with all that extra stuff?   Well you’re not alone.  The downsizing population has enjoyed living in their large spacious homes that offer plenty of storage options.  Over the years we can certainly collect a lot of things that don’t serve any purpose today.  The biggest step for most of us is to be able to emotionally detach ourselves from our collection!

When moving to a condo you know that you will be able to live a lifestyle of freedom from all that hard outdoor work.  So with that in mind you can easily step into your garage to target those snow shovels, snow blower, lawnmower, and collection of tools and trinkets that are adorning the shelves.  Imagine the relief of purging all that extra stuff by donating or selling all the unneeded items.

Next is your basement, I am sure it has seen its collection of boxes and totes filled with different items that more than likely only serve as a reminder that you need to dust again.

Do we really need that second set of living room furniture?  The extra end tables or set of 6 chairs from the old kitchen set?  Let it go… it will be happy that it’s in a new home where it will be loved and used. The great feeling of donating to the less fortunate is another gratifying feeling of downsizing.

Have a garage sale, stop by the donation centres or pass it down to your children.

The magazine Style at Home offers 10 great tips for downsizing. Here are the Top 5 

1.     Write a list of all the items you love and can’t live without

2.     Start thinning out your belongings at least three months before the move.

3.      Get a feel for the size of your new rooms by comparing them to rooms of similar dimensions in your present home.

4.      Heavily edit areas with items that don’t have as much sentimental value.

5.      Don’t throw anything in the garbage. Recycle, reuse,


So whether you are just thinking of downsizing or have already purchased that condo and getting ready for the upcoming move, hopefully these tips will save you time and stress!

Visit the link to view the complete list.

Know Your Closing Costs and Plan Accordingly – Kitchener Waterloo Condos and Lofts for sale

Closing Day is fast approaching and one of the most important things is to make sure you have planned for all the closing costs that come up when you are buying or selling a Condo. Have a look at the video I did to learn why this is a very important step in the process.

Be Sure You Understand the Closing Paperwork Before Signing – Kitchener Waterloo Condos for Sale

When buying that new Condo and you are meeting with the lawyer to get all the final paperwork signed please be sure you understand what you are signing and if you don’t, take the time to get your lawyer to explain it too you. Click on the video link to hear more.

Doing a Final Inspection and Why it’s so Important – Kitchener Waterloo Condos for sale

So Closing day is only days away, the packing is still going on, you have boxes filling every room in the house. Your agent calls and asks if you would like to do a final walk through of the home. Even though you are crazy busy it is still a necessary and important part of the process. Have a look at the video to why…

Market Predictions for Kitchener Waterloo Real Estate – Homes and Condos for sale

Hey Everyone, I attended a CMCH housing forecast last week and then on Tuesday of this week I listened to Craig Alexander, Sr. V.P. and Chief Economist for TD Bank give his predictions on where the housing market is going for 2012. Have a listen and hear my brief synopsis on the info I gathered.

Buying a Condo To Fit Your Needs Now and in the Future – Kitchener Waterloo Real estate condos