Alasdair and I were holding a couple of open houses over this past weekend. There are a couple of things we learned and the impressions we got from our visitors that we’d like to share.

One of the main impressions from conversations we had this weekend was that people are struggling to understand property values and how different properties compare in the current market place. This is hardly surprising considering that for one family that we spoke with, the properties visited ranged from 1960’s bungalows to much newer construction. Trying to draw a link between different property types in different but adjacent neighborhoods, and arriving at a reasonable opinion of value, based upon very little detailed information and analysis is challenging.

This is where having the services of professional, knowledgeable and service oriented realtors like Alasdair and I will help you make sense of the pricing and value of the properties visited.

It’s surprising to me that people try to learn about the market on their own, when we are here to help. If you’d like to sit down with Alasdair and I to plan your approach to the market, let us know and we’d be glad to meet you and help you as early in the process as possible. Sooner or later it is likely that a realtor will be involved in the sale or purchase of your home. You want great value in your home, you might as well get value out of your realtor as well. the earlier you involve a realtor in your home search, the more value you are receiving and the more help we can be to you.

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Filed under: advice, Around Kitchener Waterloo, Buying Real Estate, editorial, open house, real estate trends, Selling Real Estate by Keith Marshall
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…and how is this related to real estate?

In the dark of night in your local supermarket, from canned vegetables and salad dressing to fresh fruit and deli meats, countless items are being removed from store shelves. They are expired or expiring, past their prime.

What happens to them?

Much of the meat and, fruit and vegetables end up at the deli counter. Food banks get some of the can and dry goods, some gets marked way down for a quick sale and some ends up in the dumpster behind the store. It’s just the way it is, the cost of doing business, oversupply and under-demand…

In happens in real estate too. The majority of houses sell, most within about 90 days, but many don’t sell.

They don’t sell for many reasons: the agent didn’t market the home properly, the home is flawed or stigmatized or overpriced, the timing was bad, or perhaps it wasn’t on the market long enough, or too long, maybe there are too many similar homes on the market. These are all possible reasons. And there are more.

What’s important though, is that you the seller does not take it personally. It’s hard not to do. You’ve gone to the trouble of getting your house ready for sale, you’ve kept it neat and tidy, you’ve been asked at short notice to be absent between 7:00-8:00pm because there are some people who want to see it. You’ve been told to stay away on weekend afternoons for open houses. You’ve signed all the paperwork, talked to bankers and lawyers. Your neighbors know you want to move.

It’s frustrating. But like I said. Don’t take it personally. It is what it is.

You still want to sell. What should you do now?

The best thing to do, is to find out why it didn’t sell, address that issue and try again. Invite real estate agents like Alasdair and I over for a chat. We’ll be able to tell you why we think it didn’t sell. We’ll give you the advice you need to get your house on the market again and this time, learn from your mistakes and sell it in 90 days.

That’s what I’d do.

Filed under: home, home owners, real estate, real estate trends, Selling Real Estate by Keith Marshall
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Seth Godin writes “Some things are bought–like bottled water, airplane tickets and chewing gum. The vendor sets up shop and then waits, patiently, for someone to come along and decide to buy.

Other things are sold–like cars, placement of advertising in magazines and life insurance. If no salesperson is present, if no pitch is made, nothing happens.

Both are important. Both require a budget and a schedule and a commitment.

Confusion sets in when you’re not sure if your product or service is bought or sold, or worse, if you are a salesperson just waiting for people to buy.”

I like this bit by Seth Godin, actually I like almost everything he writes. Probably because I am a marketer. Real estate is a marketing business. I market homes and I market my services.

Real estate is sold. It’s not bought, and that’s where many real estate agents make their mistake.

The Kitchener Waterloo real estate market is no longer a sellers market. Houses priced right and in good order sell well. Here is what we currently have for sale.

If you’re interviewing agents, please interview us.

Filed under: About me, Buying Real Estate, for sale, home, house, Industry, life of a realtor, real estate, real estate trends, Selling Real Estate by Keith Marshall
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Alasdair and I have just listed a gorgeous condo townhouse for sale in Kitchener’s Fairview/Kingswood area. It’s close to Fairview Park Mall, downtown Kitchener and the 401.

This three bedroom, two bathroom townhome has just been painted throughout and has a beautiful gleaming new engineered hardwood floor on the main floor living room. The home features open concept living space, large bedrooms, and a walkout basement to a private and fenced backyard.

Where: 49 Cedarwoods Crescent, Kitchener

Price: $169,900

MLS: 1147343

Filed under: Around Kitchener Waterloo, condo, for sale, neighborhood update, real estate, Selling Real Estate by Keith Marshall
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In the first 10 months of 2011 compared to last year, Waterloo Region saw an increase of almost 2% in the number of residential units sold. In the first 10 months this year Cambridge saw a 6.6% increase over last year whereas Kitchener Waterloo saw a 2% decrease in the number of residential units sold.

October was a good month for KW with 470 residential units sold, up 5% compared to the same month last year. It seems that the market has been expanding and contracting all year. Houses in good shape priced right are selling within 45 days. Overpriced listings and those needing work are taking a lot longer to sell or aren’t selling at all.

In Kitchener Waterloo, the average price for all residential property sold in October was $304,379, up about 1% from a year earlier. Single detached homes sold for an average of $332,358 and was also up 1% compared to the same month last year.

What this all means is a stable housing market in Waterloo Region.

The outlook for Kitchener Waterloo real estate in 2012

According to the Canadian Mortgage and Housing Corporation, home sales and new home construction for Kitchener Cambridge Waterloo Census Metropolitan area will largely be unchanged next year compared to this year.

During 2011 the housing market stabilized and that will continue through 2012. The prediction is for home sales to slightly pick up early next year.

Prices have remained stable and mortgage rates are still historically low. First-time homebuyers who were largely absent from the market in 2010 will be more active. The report predicts that in the second half of next year, sales will slow down due to slower employment growth.

Although uncertainty in the global economy and the US economic recovery are negative factors influencing the real estate market in Canada, low mortgage rates and a healthy domestic economy are all continuing to fuel our healthy real estate market.

Filed under: Around Kitchener Waterloo, Buying Real Estate, home owners, interest rates, investing in real estate, real estate trends, Selling Real Estate, sold by Keith Marshall
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