CONDO SALES REMAIN STRONG IN K-W – Waterloo homes and condos for sale
CONDO SALES REMAIN STRONG IN K-W
KITCHENER-WATERLOO (OCT 5th, 2011) – Residential sales to the end of the 3rd quarter of 2011 are behind last year by 2.9%. A total of 4,975 homes have sold to date this year through the Multiple Listing Service (MLS*) of the Kitchener – Waterloo Association of Realtors, compared with 5,126 during the same period last year.
Overall residential sales brought the dollar volume of $1,493,498,796, an increase of 0.8 % compared to a year ago. While sales have been slightly behind last year’s results for most dwelling types, the condo market has been the notable exception.
There have been 953 condo sales year-to-date, a 2.8 % increase compared to a year ago. Stronger demand for condo’s has helped push up the average price up to 5% on a year to date basis. The average price of a detached home has increased 3.7% to $341,222. Home sales were down last month by 4.7% over last year at this time.
Interest rates continue to be low and its a great time for buyers who are entering the market for the first time, or those wishing to transition into a different kind of home, whether its trading up or downsizing.
October 7, 2011 | Categories: Buyers, Kitchener Waterloo, Sellers | Tags: condo buying, condo selling, condo units, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft buying, loft selling, market, market update, real estate, remax, twin city realty, update, waterloo | Leave a comment
Special Assessements When Buying a Loft or Condo – Waterloo Condo and Loft
If you have been looking for a new condo or loft in the Kitchener Waterloo area make sure that you get a status certificate on the building and have your lawyer do a good look through of the documents… Watch the video to hear my thoughts as to why.
August 24, 2011 | Categories: Buyers, Kitchener Waterloo, Loft Style, Sellers, Video | Tags: condo buying, condo selling, condo units, first time buyer, kevin baker, kitchener, loft, loft apartments, loft buying, loft selling, real estate, remax, special assessement, status certificate, twin city realty, waterloo | Leave a comment
Read the documents before signing – Waterloo Homes and condo for sale
If you are in the process of buying your first home or moving up to a larger one… make sure you read the mortgage documents before signing. See the video to hear my thoughts…..
June 27, 2011 | Categories: Buyers, Sellers, Video | Tags: condo units, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, market update, mortgage, mortgage news, mortgage rates, real estate, remax, twin city realty, update, waterloo | Leave a comment
Kitchener Condo developer gets $200,000 boost for Grants into home ownership
$200,000 Grants for Options For Homes Ownership Assistance in Kitchener
First-of-its-kind Home Ownership
Kitchener – For many, the purchase of a new home is the single largest financial decision made in one’s lifetime. This is especialy true for first-time buyers.
At such a time, it is easy to let excitement cloud the magnitude of costs that go into purchasing a home. Taking the next step into home ownership can seem overwhelming when considering a mortgage and/or condo fees, not to mention saving for the initial down payment.
Options for Homes is proud to announce that it has secured access to $200,000 loan financing to assist individuals looking to purchase their first home. The loans are provided by Home Ownership Alternatives Non-Profit Corporation, a mortgage brokerage licensed with the province. This is the first time in Kitchener that such a program has been offered.
Up to $10,000 per applicant is available in a loan to use towards the required down payment of a new property. The loan requires no payments until the unit is re-sold sometime in the future.
The program does not provide 100% of the required down payment. Successful applicants must have some personal funds to contribute to the initial purchase. For example, a prospective home buyer can approach Options for Homes with a as little as a $1000 down payment and apply to make arrangements for the balance of the 5% down payment.
“With 80% of Tanglewood purchasers being first-time buyers, there is a need to support individuals to make home ownership possible,” says Jan Ciuciura of Options for Homes. “We have found that mortgage payments are not the largest deterrent in the decision to buy, but rather saving for the initial down payments. Thanks to Home Ownership Alternatives, we now have a tool that works to help first-time buyers to make their dreams come true.”
The loans are available to be used at Options for Homes’ 120 units Tanglewood Condominium project, located in the community of Laurentian Hills in the southwest corner of Kitchener. These multi-generation units, ranging from Bachelor to Three Bedroom apartments, cost between $120,000 and $260,000. From Kwnow.
February 10, 2011 | Categories: Buyers, Kitchener Waterloo, New Construction, Sellers | Tags: condo units, downsizing, first time buyer, housing grants, kitchener, loft, loft apartments, lofts, new construction, options for homes, tanglewood condo, waterloo | Leave a comment
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