Good Morning,

 

We hope this email finds you doing well!

 

As we transition into the second quarter of 2023, it's an exciting time for the real estate industry. The warmer weather and longer days make it the perfect time to start thinking about buying or selling a home. With that in mind, we are delighted to bring you the latest updates and insights on the current state of the housing market in our April newsletter.

 

 

In March, the real estate market in Waterloo Region witnessed a decline in sales volume, with only 611 homes being sold. Despite this, there was an uptick in sale prices, with the average sale price for all residential properties in Waterloo Region now standing at $779,017, which is a 2.4% increase from February 2023.

 

While sales volumes may not match those of 2022, demand remains robust. The slight increase in sales prices in March is a positive signal that pent-up demand in the region continues to build, making it an opportune time for sellers to list their properties.

 

Despite prices dropping nearly 20% year-over-year, they have actually risen compared to two years ago. With borrowing costs stabilizing and an expected rise in new buyers in the coming months, the Waterloo Region remains highly sought-after, providing a promising outlook for both buyers and sellers.

 

If you have questions about the current real estate market, or are thinking of buying, selling of investing this spring-we’d love to hear from you!

 

When you decide to put your house up for sale, we will start by working together to determine the market value of your property. That’s important to know because if you price your home too much above its market value, you probably won’t get any offers. Alternatively, if you price your property too low, it might get snapped up quickly, but you’ll have left a lot of money on the table.

 

So how do we determine your home’s current market value?

We will look at a variety of factors, such as the desirability of the neighbourhood, the features of your home, how well it has been maintained, renovations and other improvements you’ve made, and of course, its location. We will also review what similar homes in your area have sold for recently – which is, perhaps, the strongest indicator of current market value.

Once we know the market value of your home, we can make an informed decision as to how to price it so that it will attract the right type of buyers and the best possible price.

Let’s face it. When you visit a home during a scheduled viewing or open house, you’re usually seeing it at its best. The rooms are tidy. The sinks are clean. The closets are organized and uncluttered. Even the lighting is set to its brightest.

 

That’s just good old-fashioned marketing.

 

However, not every house you see will actually look this way. For any number of reasons, a house on the market may be less than tidy, poorly decorated, and even in need of minor repairs. You may open the front door in anticipation, only to be immediately turned off by stains on the carpets, faded paint on the walls, cluttered hallways, and more.

First impressions form quickly. It’s easy to make quick judgments and move on. But, you may be passing on what could be a dream home. Don’t make that mistake. Make your purchase decision based on a carefully considered second impression, not just your first. When viewing a house, imagine how it will look with a fresh coat of paint, some redecorating, the minor repairs completed, and your furniture adorning the rooms. You might just find that a home that doesn’t show well is really a diamond in the rough.

(One caveat: Be careful of houses that don’t look like they’ve been well maintained. There could be issues lurking that may require expensive repairs or renovations. Always make a professional home inspection a condition of your offer.)

There are advantages to buying a home that doesn’t show well. They attract less interest and, therefore, less competition from other potential buyers.

Whether you have a large backyard or a modest balcony, gardening is fast becoming one of the most popular pastimes across the land. Homeowners have become more focused on their property’s appearance and productivity, while also recognizing how gardening can contribute to a healthy lifestyle.

Whether you are interested in nurturing beautiful blooms and bushes, or cultivating home-grown herbs and vegetables, a little planning will give you lasting enjoyment. One of the first things you need to do is to identify your microclimate in order to determine its suitability for growing specific plants.

Similarly, it’s important to know the hardiness of your preferred plants, and how much sun and shade they require. Make sure your soil is conducive for optimum growth and supplement with appropriate nutrients as needed. Be prepared to back up nature’s rainfall with a reliable source of supplementary water, either manually or through an automatic system. Now that you’ve done your prep work, the true pleasures of gardening begin – but don’t think it’s an easy hobby! It takes hard work to keep the weeds at bay and your garden on track, but you’ll see the fruits of your labour grow before your very eyes.