Monday, November 28, 2011

Kitchener makes first steps to adopting a rental housing bylaw


The Waterloo Region Record reported that Kitchener City Council discussed at length the backround report on residential-licensing bylaw is probably on it's way.

A background report on a residential-licensing bylaw sparked a lot of discussion among councillors Monday, including whether it should be applied across the city or just in Lower Doon, which is near the community college.

Mike Fleming, a 20-year resident of that neighbourhood, urged councillors to act.

“I have witnessed several private residences converted to student housing, especially in the past five years,” Fleming said.

Single-family residences that are converted to student housing typically see several new bedrooms added and sometimes a second kitchen, and most of the time the owner does not get the proper permits and inspections, Fleming said.

“The example of Oshawa’s bylaw with regard to student housing surrounding Durham College is precisely what our city council should be closely examining,” Fleming said.
Not so fast, said Shayne Turner, the city’s director of bylaw enforcement and author of the background report.

Turner told councillors that only five cities in Ontario have adopted a rental-licensing bylaw since 2007 changes to provincial legislation allowed them — Oshawa, North Bay, London, Mississauga and Waterloo.

Turner said Oshawa was the first and its bylaw focused on the area around Durham College, but after the Ontario Human Rights Commission raised concerns about bylaws that target specific neighbourhoods, all the municipalities that followed enacted city-wide bylaws.

The landlord association in London took that city to court and lost. The landlords in London are now trying the Ontario Court of Appeal. The Durham bylaw has not been challenged in the courts.
Mayor Carl Zehr wants city staff to look at all alternatives, including the tightening of existing regulations, as a bylaw is prepared and public meetings held.

“We need to resolve the issue, particularly in Lower Doon, I want to make that absolutely clear,” Zehr said.

“But there are other options we have to look at as well,” he said. “What I am trying to do is avoid the legal quagmire that this is potentially going to get us into.”
Zehr’s call for a delay until January so councillors could get a closed-door briefing from city lawyers was lost in a tie vote.

“That’s a huge problem that’s been facing us for many years,” Gazzola said.

A report on a rental-licensing bylaw is expected sometime in the first half of next year. If the experience of other cities is repeated here it will be controversial. Landlords, realtors and others routinely oppose the move. Such bylaws call for significant fees to pay for the additional city staff needed to enforce them.

In June, councillors asked for the background information about what is allowed in such bylaws and the experience in other municipalities. They voted unanimously yesterday to proceed to the next step — the drafting of a suggested bylaw and alternatives — to make rental housing safer for occupants and neighbours.

Coun. Frank Etherington wanted to know if such a bylaw would help the city get rid of crack houses.
“Would this improve your opportunity to enforce standards in that type of rental housing where people are living in appalling conditions?” Etherington asked.

Turner said it would depend on what type of housing the bylaw was focused on, but it could be tweaked to help better regulate non-student rentals as well.

“My short answer is — I do believe there would be some applicability,” Turner said.

Wednesday, November 23, 2011

Great Commercial For the Holiday Season - Crowded House

If you are like most people out there, the holidays brings with it lots of friends and relatives - how do you cope with a crowded house?  Check out this link to a great commerical http://youtu.be/dfcqEV91DiE

Thursday, November 17, 2011

Furnishing Your Rental Units Cost Effectively


How to furnish your rental property cheaply

If you have a property you rent out and you are on a budget you probably try to find furniture that’s as cheap as possible.  At the same time it’s likely that you don’t want your furniture to look like it was the cheapest possible furniture you could get.
Most tenants will want to take out a content insurance policy for their own possessions and you will normally have Landlord Insurance cover for the possessions you have.  You will want to make sure that policy is worthwhile having because you have some good quality furniture to insure.
So how do you find decent furniture at reasonable prices?
Charity Shops
Some people shun charity shops thinking that they only stock cheap things and aren’t good quality.  That is very often not the case.  People will sometimes give good furniture that they don’t want any more to charity shops.  You might not pick up a bargain on your first trip but if you are a little bit persistent you may just find something that would have cost a lot more to buy in a normal high street shop.
Charity shops that stock large bulky items like sofas or wardrobes will very often deliver your purchases to your home.  It does depend on the shop, but these are ideal places to find bargains and they are often found in or near your local High Street.
Go online
For some people there’s not much that’s more enjoyable than scooping a bargain online.  Ebay is a great place to pick up a good deal on second hand furniture.  There is also Gumtree where people sell unwanted furniture.  You of course have to be careful about the quality of what you’re buying, but the same goes for most things.
Ask your friends and family
Sometimes you might be able to bag a bargain from your friends or family and could get it for free.  People often throw out furniture that is unwanted or that they have replaced.  If they know you are looking they might ask you before they either dispose of it, give it to a charity shop, or sell it.
Furnishing your rental property cheaply is not as difficult as you might think if you do a bit of research.  You can actually get some good quality second hand furniture that is in very good condition at prices that are far less than you would pay if the furniture was brand new

Wednesday, November 16, 2011

Do You Commute from K-W to Toronto? Go Trains to Begin Service....

Thousands of people commute back and forth to Toronto from Kitchener Waterloo everyday.  The Go train service is set and ready, and rumours are that Dec. 19th could be the day the first trains depart the Via station on Weber Street.

There are 2 trains scheduled to depart on weekday mornings and returning in the evening.

The provincial transit agency is just preparing schedule and rate details.

With the price of gas and road congestion, this will be a welcome option for commuters.

Wednesday, November 9, 2011

4 Signs that Your Home Might be Overpriced...

The worst thing that can happen to a listing is that it doesn't sell....overwhelmingly, the main reason a home won't sell is that it is overpriced.

Here are 4 signs that indicate your home is overpriced.

It is no longer a sellers market out there.  You have to make sure the price is right in this highly competitive, price-driven market. Unlike the good old days, homebuyers are no longer choosing homes based on emotion. In this tough economy, they're looking for the best deal.

If your house has been sitting on the market for three or more tortuous months, your asking price may be to blame. Here are four tell-tale signs that it's time to slash that listing price.
  1. No one is stopping by for a look.Your house has been on the market for a month or two, and showings have been scarce to none. Wait a second, do you hear that? Ah yes, it's the sound of warning bells ringing. If buyers are not even taking the time to look at your house, it's pretty sure sign that the price is too high.Of course, you may argue that this doesn't necessarily mean that there's no interest in your home. While you've had no actual showings, that brochure box by your "For Sale" sign is empty and your online listing has received hundreds of hits. If that's the case, this only proves that there is interest in your home, but something is keeping buyers from scheduling a showing. What's holding them back? You got it -your absurdly high asking price.
  2. You've had plenty of showings but no offers.So, your home has attracted a handful of showings since it's been on the market, but you still haven't gotten an offer. Of course, the Pepto-Bismol pink shower in the master bathroom or the turquoise blue carpet in the living room could be to blame.Poor design and color choices can certainly scare away potential buyers. But if your home is tastefully decorated and updated, it's more likely that your price needs to come down. Some experts say if you've had 10 showings without an offer, your home is probably overpriced.
  3. Buyers shower your home in criticism.You've had plenty of showings, but your realtor has noticed that prospective buyers make the same negative comments about your home time and again. For example, they may continually complain that your house is plagued with a pungent odor reminiscent of wet dog and rotten tomatoes. Or perhaps they all point out that the 1970s-themed kitchen, complete with pea green appliances, is a little outdated.Be sure to ask your realtor to notify you of any negative feedback from buyers. While some of the comments may be difficult to hear, a little constructive criticism may help you sell your home in the long run. Remember, there's no room for hurt feelings in home-selling.It may turn out that other homes in your neighborhood have remodeled, modern kitchens and a more inviting smell. If this is the case, you'll either need to freshen up your home, give your kitchen a makeover or (you guessed it) cut your asking price. After all, if the price is right, prospective home buyers may decide they can live with a pea-green dishwasher - or buy a new one.
  4. You have the highest priced home on the block. Let's say comparable homes in your area are priced much lower than yours. Houston, we have a problem. If your house is the most expensive three-bedroom, two-bath, 10-year old home in your zip code, it's probably going to be the last one to sell.Ask your realtor for regular updates on home prices in your area. He or she can show you the closing price on homes similar in size and age to yours and notify you when comparable homes drop their prices. This will help you decide if it's time for you to drop you price, as well.
So, after picking up on some of these warning signs, you finally give in and drop your price. But you still haven't received an offer. What's the deal? You probably haven't cut your price enough.

If you're going to lower your price, don't do it in small increments. After all, there's really no difference between $225,000 and $224,900. Buyers won't fall for that. If you're going to slash your price, you'll have to lower it enough for buyers to take notice.

With all of these factors in mind, it's easy to understand why a REALTOR's services, advice and knowledge is so valuable in selling a home.  I can help set the proper price at the outset using knowledge and information of the market, follow up and provide feedback from showings and open houses and provide suggestions and advice on ways to make your home more appealing to potential buyers.

Contact me today to find out what your home could sell for.




Tuesday, November 8, 2011

Be the first to see this brand new listing on Wednesday!

This 3 bedroom backsplit in Westheights boasts 2 beautifully updated bathrooms with heated tile floors, quartz counters and premium fixtures.

Hardwood on the upper two levels and berber carpet on the lower two levels, a gas fireplace and a 20' x 40' heated pool and you can see why this is the perfect family home!

Contact me at 519-742-5800 or klouie@coldwellbankerpbr.com to be the first to see this listing.  It comes on the market tomorrow...video slide show will be available Wednesday.

Sunday, November 6, 2011

NEW LISTING - Westheights Kitchener

Updated backsplit with premium bath fixtures and upgraded flooring,  minutes from the Boardwalk and Hwy 7/8.  Goes on the market Wednesday - be the first to see it!  Contact me...

Saturday, November 5, 2011

Open house this Sunday, November 5th from 2:00 to 3:30 at 93 Flanders Road, Breslau.  Take Fountain Street off Victoria.  If you think the video is great, wait until you see the house!

Friday, November 4, 2011

K-W Residential Home Sales Up in October Over Last Year

OCTOBER RESIDENTIAL SALES UP

KITCHENER
 todate, there have been 5,574 residential units sold, a decline of 2 percent compared to the same period last year.
There were a total of 470 residential sales, with a total dollar volume of $143,058,192, representing a 5.6 percent increase over results recorded in October 2010.

“Although all marketplaces are subject to month to month fluctuations it is obvious that we have a strong, stable market in our region,” said George Patton, President of the KWAR. “We are seeing that people have confidence in investing in the housing market in this area.”

Year

WATERLOO, ON (Nov 3rd, 2011) –– The number of residential real estate sales through the Multiple ListingService  (MLS®) of the KitchenerWaterloo Association of REALTORS® (KWAR) increased to mark a gain over October 2010 of 4.9 percent.

CMHC relases it's fourth quarter market update - continued stability of the housing market into 2012

In its fourth quarter market update, Canada Mortgage and Housing Corp. said mortgage rates would likely remain at historically low levels at least until the last half of 2012. The housing market’s fate is largely tied to rates, the agency said.

“Should rates move lower than projected, housing starts and MLS sales could be higher than expected and house prices could grow at a faster pace than forecast,” the report stated. “Alternatively, should financial market expectations improve and interest rates move higher than projected, housing starts and MLS sales could be lower than expected and house prices could grow at a slower pace than forecast.”

CMHC said there could be as many as 470,100 resales in Canada this year, and expects that number to rise to 485,500 in 2012.

“We expect balanced market conditions to prevail and the average MLS price to remain fairly flat to the end of 2012,” the report stated.

CMHC said 186,750 new homes would be built in 2012, compared to 191,000 for 2011. Analysts generally agree that at least 175,000 new homes are needed each year to meet demand from new families and immigration.

“Ontario, Saskatchewan and Nova Scotia’s growth will be the strongest, while Prince Edward Island and British Columbia are forecast to see modest growth,” CMHC said. “The other provinces, on the other hand, are expected to see decreases. In 2012, housing starts are forecast to increase in British Columbia, Alberta and Manitoba.”

Other highlights from the report:

· Posted mortgage rates will remain relatively flat until late 2012. For 2012, the one-year posted mortgage rate is expected to be in the 3.4 to 3.8 per cent range, while the five-year posted mortgage rate is forecast to be within 5.2 to 5.7 per cent.

· Single starts have rebounded coming out of the recession. After an increase in the third quarter of this year, they are expected to moderate before rising later in 2012.

· Since the beginning of 2011, new listings steadily outpaced existing home sales. As a consequence, the resale market has moved from sellers’ to balanced market conditions.