Mark your calendars!

On Thursday, November 2nd, I will be leading one of my famous 'educational extravaganzas' on the topic of INVEST AND GROW RICH: Building Wealth through Smart Real Estate Investments. This event will take place at my office, 871 Victoria St, Kitchener ON (click for a map) from 7:00-8:30pm and is free of charge. Please RSVP (contact information below) by October 31st.

I'll be sharing some of the reasons why Real Estate makes such a great investment vehicle, proven methods to build wealth through real estate, and how to find the right property. I'll also be answering these questions. People who have been through this workshop have gone on to profitably invest in real estate, and we'll show you how to do it the same way.

If you have any questions about the event, please contact me via email, or at 519 772 4376.

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Dan Tudor, who I recently blog'd about here, posted a message I sent him on his blog today.  He was kind enough to call me a 'Savvy Real Estate Agent.'

I've been reading his blog for months now, so it's pretty cool that he linked to me from his blog, especially since Dan is a fairly well read blogger.  If you have'nt checked out Landing the Deal , get over there and have a look.

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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A great speaker, I believe either Jim Rohn or Brian Tracy once said that you cannot conduct yourself one way in business, and another way in your personal life.  If you cheat on your spouse, you will cheat your business partners or clients; If you don't tell the shareholders every piece of pertinent information, you won't hesitate to withhold important information from your spouse or a close friend.

Today, Seth Godin talks about people who justify acting a certain way by saying "It's just business"

Anyone who is willing to lie to you, cheat you or treat you with disrespect because it's just business is doing more damage to herself than to you.

Work takes too much time and too much emotion for it to be just work. As far as I'm concerned, I don't want to spend time or money with anyone who has this particular attitude disfunction.

Well said, Seth

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Kitchener Waterloo Real Estate Forecast for 2007: prices still going up

Re/Max recently came out with thier annual forecast of local real estate markets across Canada.  The entire report can be found here, and is a very interesting read.

Here is what they have to say about our local market in Kitchener Waterloo:

Kitchener-Waterloo's strong residential housing market shifted gears mid-year in response to growing inventory levels. Although record breaking sales activity is forecast for year-end 2005 at 6,050 units, an increase of two per cent over 2004 levels, buyer resistance to higher prices was observed during the latter half of the year. As a result, the number of days on market increased from 46 to 51. Price adjustments became more commonplace and multiple offers were laid to rest.

More balanced market conditions have emerged in Kitchener-Waterloo. Move-up buyers have a significant presence in the market, stimulating activity for homes priced from $250,000. Baby boomers continue to spur upper-end sales between $400,000 and $600,000.

Downsizing now occurs with more frequency as empty nesters and retirees sell their single-detached homes and move to popular condominium loft projects such as the converted Seagram building in Uptown Waterloo. The city's peripheral areas - Baden and New Hamburg - are experiencing an influx of mature buyers, thanks to an ample supply of two-bedroom bungalows listed for sale. First-time buyers played a secondary role in the market in 2005.  Demand has largely been satisfied in this segment of the market.

Although the half a percentage point hike in interest rates in the Fall did little to deter purchasers, it's suspected that an increase of one per cent or more in 2006 will slow home buying activity in Kitchener-Waterloo. Those first-time buyers that remain in the market are already stretched to the limit in terms of debt.

Condo conversions currently underway, including the redevelopment of the old Kaufman Footwear building in Kitchener and the Bauer industry building in Uptown Waterloo, are attracting younger purchasers as well. Starting from an affordable $150,000, developers are specifically targeting University of Waterloo graduates who are staying in Kitchener-Waterloo after completing school to work at some of the high-tech firms in the area.

 

The redevelopment phenomenon is also helping Kitchener-Waterloo revitalize tired core areas. Future plans include a $6.5 million expansion to Wilfred Laurier School of Social Work; a $30 million commitment to University of Waterloo's School of Pharmacy; and over $7 million designated to improve parks and the downtown area, including a new community centre and $32.5 million public library. Non-residential
construction, such as the Brick Brewery Co.'s 103,000 sq. ft. bottling facility, is expected further bolster economic performance in the Kitchener-Waterloo area.

Immigration and in-migration are forecast to have a more significant impact on the marketplace in 2006. The high-tech sector's reach is far and wide in terms of skilled help. Given a continuation of strong economic fundamentals, sales are expected to maintain a healthy, albeit more leisurely, pace throughout 2006. The number of homes changing hands is forecast to hover between 5,800 to 5,900 units in 2006.
After several consecutive years of strong upward momentum, average prices are expected to settle into more normal patterns. By year-end 2006, average price is expected to climb a modest two per cent to just over $225,000, up from $219,000 one year earlier.

There are a couple of graphs embedded in the pdf file, which I'll try to get on the blog later tonight.

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Originally posted at benjaminbach.com

Most people who know me know that I have a real estate business, and that I'm involved in the housing market on a daily basis. Whether I'm helping people buy and sell residential real estate, or consulting with an investor about the direction to take their real estate investment portfolio in, I'm afforded an excellent view of what is happening to the real estate market on a local level; through real estate blogs and industry news sites, I'm able to keep up with trends worldwide (although mostly in North America). Naturally, people are always asking me what I think about the current market, whether we're heading for a bubble/crash/continued rise of prices etc.

This is a Great real estate market, for a number of reasons, as Darin Persinger points out:

1. Mortgage applications are up-great indicator that lookers are turning into buyers.
2. Mortgage rates are close to a 40 year low. This makes monthly payments affordable.
3. NAR reports pending home sales are up 4.3%.
4. Unemployment has declined to 4.6% and the economy is expanding. (ed: This is a US stat, but our local economy/unemployment in Kitchener Waterloo is similar)

It is true that we're no longer in a 'seller's market' (which is where there are more buyers than sellers, and buyers 'compete' for homes), and are into a 'buyer's market' (see here), but that doesn't mean that are market has taken a turn for the worse. As Roma Luciw points out in the Globe and Mail (hat tip: Edmonton Real Estate Blog), we are trending towards a more balanced market, which is a good thing for everyone:

Signs that Canada's housing market is in for a "soft landing" are building as the furious pace of activity in the housing market gives way to the most balanced conditions in more than five years, according to the Canadian Real Estate Association.

Although sales activity as measured through the Multiple Listing Service is easing, prices continued to shoot higher in September, with Edmonton displacing Calgary to take the top spot on the price gainers list.

…
The average price of a house in Edmonton reached $278,732 last month and $369,928 in Calgary. The Greater Vancouver area was by far the priciest place to buy at $527,504, while existing homes in Toronto sold for an average $349,149.

Prices actually fell in only four of the 25 major MLS markets: Newfoundland & Labrador, Windsor-Essex, Saint John and Durham Region.

…

Vancouver, Calgary and Toronto — the three most expensive cities in the country — experienced the largest drops in sales in the quarter, which helped average price increases slow to 9 per cent on a year-over-year basis from 11.3 per cent in August.

Sales activity in Edmonton and Thunder Bay rose to quarterly records in the third quarter.

CREA said the third-quarter numbers show that the housing market is becoming more balanced, spurring smaller price increases. The dollar value of existing home sales slumped 2.7 per cent in the third quarter from the previous quarter, although new listings climbed 3.8 per cent to 143,760.

"The quarterly decline in sales combined with an increase in new listings caused the resale housing market to become more balanced than in any other quarter in the past 5.5 years," CREA said.

In the first nine months of the year, transactions are above year-earlier levels and rose 1.4 per cent. Sales are still on track to set a record in 2006.

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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If you're looking for a fantastic home at an even better price in Kitchener, come drop by one of the open houses I'll be hosting this weekend (or better yet, come to both!).

64 Overlea CR - Open house Saturday October 21, 2:00-4:00pm

64 Overlea CR is 2 story all brick semi-detached home on a quiet crescent that has been renovated top to bottom. Features include a 15×24' detached garage, new flooring, newer windows, new carpet in basement; the main level & upstairs are carpet free. Home features a brand new furnace and central air.  This home is priced to sell at $179,800.

426 Franklin ST N - Open house Sunday Oct 22, 2:00-4:00pm

 426 Franklin ST. N. is a lovely 3 bedroom detached backsplit in Stanley Park. This home features new shingles, new furnace (2003), refinished hardwood, and a large family room with fireplace and laminate floor. There is a huge crawl space, spacious fenced yard (51 ft by 110 ft) You can walk to schools and the mall from here!  This home is listed at $ 209,800.

To set up a private viewing of one of these homes, or if you'd like up to the minute updates of other listed homes in Kitchener Waterloo emailed to you at no cost, contact us at 519 772 4376, or you can email us @ benjamin AT benjaminbach DOT com (replace AT with '@', DOT with '.')

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

Subscribe to Benjamin Bach's KW Market Watch by Email