New Canadian Sunshine Kids Website

There is a new website for the Canadian Sunshine Kids Foundation. There's lots of information about trips and fundraisers. There are even a couple picture from one of our mini-golf fundraisers. You can check it out at www.sunshinekidsfoundation.ca

Prudential Company Barbeque

Don't forget to sign up at the office for the Company Barbeque. It's being held on Saturday, September 6th. Bring the whole family. We've got games for the kids, and lots to eat. It's at the same place, the Sage Farm which is behind Whistle Bear Golf Club. (There's a map at the office).
Start time is 4 PM. Dinner is at 6.
See you there!

July 08 MLS Statistics

Here are the July 2008 MLS monthly statistics from our two real estate boards:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 267,513	$247,767	$255,812	$241,585
Percentage Change	+8.0%		+5.8%
Properties Sold	657	655	255	298
New Listings/Sales Ratio	70.8%	80.4%	54.3%	70.5%
Properties For Sale Now	1941	1999	N/A	N/A

Do Not Call List

CREA has created the booklet “The National Do-Not-Call List” to provide more information to REALTORS® about how they will be affected when the list comes into effect on September 30, 2008. The booklet can be viewed on the DNCL Compliance section, posted in the Compliance Centre on www.realtorlink.ca. The information below can be found in the booklet.

Real estate brokers or representatives, making unsolicited telephone calls qualify as telemarketers. This doesn’t mean that REALTORS® cannot contact consumers in other legal ways, such as direct mail. It means that if the consumer, private sellers included, puts their name and telephone information on the National Do Not Call List, you cannot contact them at that number (phone or fax) to sell them a product or your services or in any way solicit business, unless:

the call is to a consumer who has an existing business relationship with your company, or
the call is to a business consumer.
An existing business relationship, such as one between a consumer and a real estate brokerage, is defined in three ways:

The consumer purchased or leased a product from the organization within the past 18 months;
The consumer had a written contract (such as a Listing Agreement) with the organization that expired within the past 18 months
The consumer had made an inquiry with the organization within the past six months (for example the consumer called for a listing presentation).
An individual can also specifically consent to be called by a certain organization, even if he or she is registered on the National DNCL.

CREA provides the example of an Open House and consent to be contacted.

The REALTOR® is hosting an open house. Mary and Bob Ford come in for the tour and sign the guest book. Does this mean that the REALTOR® can call the Fords to offer his services?

YES– if they signed the guest book or otherwise indicated their interest and intent in a business arrangement.

NO– if they signed the book but specifically asked not to be contacted. Then the REALTOR® would have to add the Fords to his corporate do-not-call list. (Under Canada’s Do-Not-Call legislation, all telemarketers must also maintain their own do not call lists– even if they are making calls that are exempt from the National DNCL rules).

Other tips

If a consumer makes the request to be placed on an internal do-not-call list, you must process that request immediately.
Be sure to disclose the purpose of your call and the company or individual you are representing right away. It’s a good idea to have a prepared script to work from.
The CRTC intends to launch a public awareness campaign to publicize the web address and telephone number for consumers and telemarketers to access once the National DNCL becomes operational.

June 2008 MLS Statistics

There's been plenty of doom and gloom about the real estate market in the media over the past few weeks. We acknowledge things are a bit slower, but certainly nothing as bad as some reports say. When you look at the June numbers, it certainly confirms this. The number of sales is down about 10% to last year's numbers but certainly not as bad as some would lead you to believe.
Here are the June 2008 MLS monthly statistics from our two real estate boards:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 276,384	$255,323	$263,500	$252,724
Percentage Change	+8.2%		+4.2%
Properties Sold	706	761	277	311
New Listings/Sales Ratio	70.2%	77.6%	65.4%	66.5%
Properties For Sale Now	1938	2136	N/A	N/A

Changes to FINTRAC Legislation

As you may be aware, there has been recent changes to legislation related to FINTRAC and money laundering. There are some changes that we MUST make to conform with the legislation.

Please take come time to read the information. Everything you need to know is on the web at Realtorlink. http://www.realtorlink.ca/content/fintrac/

In a nutshell, we must follow the following rules:

1. We must report suspicious transactions. If you feel that your client may be breaking the law, it is incumbent upon you to report it.
2. We must report any cash deposits over $ 10,000. (Please be advised that our brokerage does not accept cash deposits over $ 10,000. If your client wishes to do so, you must inform the client that it is our policy that they must get a bank draft, money order, or certified cheque to replace the cash.
3. IMPORTANT CHANGE! We must see photo ID of our client and it must be kept on file. Common acceptable forms are birth certificate, passport, drivers licence, and SIN card. Ontario Health Cards are unacceptable. If attaining a photocopy of this document is not convenient, then you must view the document and fill out the attached form. This must be done for all parties to the transaction (IE each spouse must fill one out)
Please note that the admin staff will be “reminding” you if you do not submit the photocopy or applicable form.

These changes become effective on June 23rd, so you should be starting this practice immediately.

Please take the time to read the issues online. If you have any questions, please contact Goran or myself.

We will be making some changes to the company policy manual to reflect these changes.

May 2008 MLS Statistics

We're back on track! Here are the May 2008 MLS monthly statistics from our two real estate boards:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 270,069	$245,138	$256,852	$238,891
Percentage Change	+10.2%		+8.4%
Properties Sold	625	780	259	344
New Listings/Sales Ratio	60.8%	73.8%	45.4%	59.8%
Properties For Sale Now	2010	2154	N/A	N/A

Better Late Than Never March & April Stats

I have set a new record that I am ashamed of. Six weeks without a post. Inexcusable! But I DO have an excuse.... The Cambridge Board changed to the Filogix MLS system and it has taken them this long to release the statistics under the new software. So, I apologize, but the problem is now resolved. Here are the statistics for March and April. I expect to have May stats up by the end of the week.
March 2008:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 253,815	$247,417	$253,094	$244,465
Percentage Change	+2.6%		+3.5%
Properties Sold	606	616	236	293
New Listings/Sales Ratio	77.0%	65.1%	54.9%	60.5%
Properties For Sale Now	1733	2081	N/A	N/A

April 2008 Statistics

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 261,865	$247,083	$266,358	$236,331
Percentage Change	+6.0%		+12.7%
Properties Sold	691	712	254	307
New Listings/Sales Ratio	66.1%	67.3%	48.6%	61.2%
Properties For Sale Now	1850	2176	N/A	N/A

Welcome, Liza Goodfellow to our Cambridge Office

Liza moved to Cambridge 4 years ago from Trenton where she grew up. She has been a real estate agent for 1 year. Before getting into real estate Liza had worked for 15 years in supply management, she was a buyer for John Deere, Ballard and Case.

Liza and her husband, Jamie, have two beautiful children, Grant (3) and Sophie (1). Liza is very involved in “Funspiel for Kids” a program to benefit the Children’s Aid Foundation.

When Liza takes the time to relax she spends it golfing, remodeling and playing with her kids.

Our 2007 Award Winners

Congratulations to all our Award Winners, who excelled in production over the past year. All were recognized at our annual Awards Breakfast held on Thursday, March 27th at the Charcoal Steak House.

Chairman's Circle Platinum Award
Jose Bairos

Chairman's Circle, Gold Award
Scott and Lisa Hube
Mike Milovick
Li Li



President's Circle Award
Eric Klimstra
Mary McMurran
Dorinda Orser Team

Leading Edge Society
Jade Ho
David Kivell
Marie Miller & Jerry Jarman

Honour Society
Dana Bednis-Schnittke
Paul Dawson
Rena Miller
Janet Good
Tamara Martin
Ernie & Iola Shomphe
Lucy Schito

Rookie of the Year
Lois Aguas, Cambridge
Eric Klimstra, Kitchener

Award of Excellence
Lucy Schito, Cambridge
Nelly Kilianski, Kitchener

Ten Year Legend Award
Scott & Lisa Hube

PREA 100 Award
Jose Bairos

The Value of a Coach

In the past few years, coaching of real estate agents has become very common and popular. For those involved in the progams, they can give testament to the value of coaching. Here is a video that was sent to me by Marshall Northcott that shows the value of a coach. Take the time to watch righ through to the end. It has an interesting finish.

February 2008 Monthly MLS Statistics

Here are the February 2008 MLS monthly statistics from our two real estate boards:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 260,121	$234,310	$249,888	$225,346
Percentage Change	+11.0%		+10.8%
Properties Sold	493	511	218	210
New Listings/Sales Ratio	61.8%	69.9%	69.9%	56.5%
Properties For Sale Now	1709	1961	684	804

Food for Thought

I was browsing through our REM magazine the other day and came across an article by Heino Molls that caught my eye. (Heino is the publisher of REM and occassionally runs editorial columns.)
This one deals with a unique form of marketing and it's called "Donut Shop Marketing" If you haven't read it already, take a minute. It's worth the read.
What do you do set yourself apart from the crowd?

Here's the link:Donut Shop Marketing

Upcoming RECO Update Courses

Over the past while, I have had several Cambridge agents ask me about schedules for upcoming RECO Update courses being held in the area. The Kitchener-Waterloo Board holds RECO Updates in their classroom almost every month. You still have to register at OREA to attend. Here is a list of the upcoming seminars in K-W and the instructors:
March 19th - Marg Gourlay
April 9th - Mark Weisleder
May 14th - Angie Asadoorian
June 18th - David O'Gorman
July 9th - Mark Weisleder

Do You Think About the Competition?

Competition is everywhere. Coke vs Pepsi. General Motor vs Ford. McDonald's vs Burger King. Re/Max vs Prudential (we already know who has the better agents!)

When you're listing a property and talking about the asking price, how much time do you spend talking to your seller about the competition? My suspicion is not as much as you should.

If you look at the neighbourhood and properites within an 25 to 50,000 price range, how does your listing stack up? Is your listing the best deal? Is it maybe a little weak in a couple areas but the price reflects that? Is it maybe a bit more money but has lots of features to dictate the higher asking price? These all fit in with the $ 64,000 question. In reality, the buyers looking and comparing, are very bright people. They can't be tricked. They are going to buy the one that they like the best and is the best value.

In today's market, the average days on market (DOM) is around 50 days. We have discussed ad nauseum how this statistic is skewed by agents who cancel or expire listing and "put them back on". But, irregardless of the number, the fact is that well priced properties sell in less than the DOM average and over priced listings (with price reductions factored in) take longer to sell.

Do yourself, and your seller a favour. Spend an hour or two showing them "the competition". Tell your seller he has a bit of bias that they need to leave on the doorstep. You may find that all your CMA homework is out the window when compared to what else for sale right now. Buyers are not stupid, and ultimately, it is they, not you or your seller, who decide the value.

Ode to Bernie

It is with sadness that we learn of the retirement of Bernie Vogt as Canadian President of Prudential Real Estate.
Bernie has lots of ties to Waterloo Region. He grew up in the Preston part of Cambridge, attending Preston High School. His parents owned and operated a restaurant for many years on Frederick Street in Kitchener where the Three Kretans Restaurant is now. His first real estate career was as a sales representative in Kitchener with Canada Trust Realty.
He has held his present position with Prudential since 1998 when he sold out his Countrywide franchise operations to Prudential. Prior to that he had been a senior Vice President with Royal Lepage.
He has always been a great supporter of Prudential Grand Valley Realty and attended many of our events. Many of our agents have got to know Bernie well. He will be sadly missed.
We sincerely wish Bernie all the best. We hope that he and Joy enjoy a long and happy retirement.

January 2008 Monthly MLS Statistics

Here are the January 2008 MLS monthly statistics from our two real estate boards:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 263,860	$244,832	$251,640	$241,853
Percentage Change	+7.8%		+4.2%
Properties Sold	381	379	177	196
New Listings/Sales Ratio	41.0%	41.8%	63.9%	69.3%
Properties For Sale Now	1553	1935	483	543

Draw the Button, Daryl!

Daryl Shane is doing our company proud! If you don't know Daryl already, you should know that he is an avid curler, and certainly has a reputation as one of the best in Waterloo Region.
This week, he is representing our area in the Ontario championships, the TSC Tankard, being played in Waterloo at the Waterloo Rec Centre. He is the skip of the local team and certainly has the home field advantage.
You can check out his results at TSC Tankardwebsite. Also, here's an article in the K-W Record about his qualifying last week.
Go Daryl!

Milestones Acheived

Recently the Kitchener Waterloo Real Estate Board recognized their long standing members and three of our agents were recognized. Congratulations to Adrian Bodea (25 years of service), Jade Ho for 20 years of service, and Nelly Kilianski for 20 years of service (I know, I know, you started when you were 16!)






Congratulations to all three of you. Some days it seems like a few weeks, and other times, it feels like forever!

Dates Set for Leader's Edge Training

We have confirmed the dates for this year's Chris Leader training.
The "Bridge to Success" event will be held on Monday February 11,2008 from 10 AM to 1PM (Coffee at 9:30) at the Mississauga Convention Centre, which is on Hwy 10, about 5 minutes north of the 401. This is the free introductory event.
The nine week program starts on Tuesday, March 4th.
You can learn more about the program, and check out pictures of last year's group on Chris' website at Leaders Edge Training.
There is a sign up sheet at the office for the February 11th event.

Welcome Grace Szymanska

Grace has been in the business for 3 years, with previous experience at Royal Lepage Wolle Realty. Grace is married and has 2 children. She grew up in Warsaw, Poland and moved to Canada in 1990.

Grace has worked at a legal office in Poland and has also worked at Clarica Insurance.

When Grace isn’t working she enjoys walking, biking and cross-country skiing.

2007 In Review

I am pleased to say that once again, real estate sales were good to us in 2007. As I look back on the 2007 MLS statistics, 2007 was the best year on record for the K-W Board and the second best year on record for the Cambridge Board. I guess it can’t get much better than that. The strange thing is that, it came in like a lion, and out like a lamb. There were great numbers at the beginning of the year, but November and December were very slow. But, overall, we must be very happy.

Here are couple personal observations. In December, the average sale price in Toronto went over $400,000 for the first time. Our average sale price is still under $ 250,000. For the past 15 to 25 years the market has maintained a gap of about $ 100,000 in these average sale price numbers. Now, that number has spread to $ 150,000. My first thought is that our prices are a little undervalued. Average sale prices in Saskatchewan are now higher than ours. The average sale price in North Vancouver and West Vancouver is over a million dollars. Does that make sense? You be the judge. We are continually rated as one of the top five places to live in Canada in all categories, but our real estate prices move upward at a slow, controlled pace.

When talking real estate, the favourite topic is the U.S sub-prime dilemma. In some major American markets, there are horrific stories about foreclosures and price declines. Someone told me recently, that with price declines and the US dollar, you can now buy a condo in Florida for less than half the price you could five years ago. In some areas, like Florida, it is definitely not a fun time to be in our business. As Canadians, we “think” that we always follow the American lead. But, given the background, I would suggest that we are about to turn the corner and be able to say that we dodged the bullet. Political differences, our mortgage rules, our economy, and, let’s face it... a bit of luck, have left us in a great situation.

Regarding our local market, it is interesting to note the issue of new home sales. CMHC (Canada Mortgage and Housing) numbers show single family housing starts as marginally lower this year than 2006. But, when you analyze those numbers, it becomes interesting. In Cambridge, there were less than 60 new homes built in 2007. Development restrictions, and government delays, caused a city of 120,000 people to build almost no houses. How this affects the market in 2008, is anybody’s guess. Kitchener-Waterloo numbers were slightly lower than normal but not as remarkable. The other issue is, that lots have become so expensive for builders that it has become very difficult for builders to compete price-wise with re-sale homes. The gap is definitely wider than normal. This should prove to be an interesting observation in 2008. We already know that there will be many more lots available and new homes built. Will the pricing affect the resale market? We’ll find out.

What does 2008 hold in store? Nobody knows for sure, but all indications are for another good year. Unemployment rates are good, and, the economy is good. The increase in the Canadian dollar does not appear to have hugely affected the Canadian economy as feared. It looks like we will have another good year in real estate in Waterloo Region.

Please find below some of the barometer statistics from our two real estate boards. The key numbers are: an average sale price around $245,000 after a 5.5 % increase from 2006.

Let’s hope we can report similar numbers a year from now. Best wishes for a great 2008.

	K-W 2007	K-W 2006	Cambridge 2007	Cambridge 2006
Avg. Sale Price	$ 248,879	$235,629	$242,753	$230,371
Percentage Change	+5.6%		+5.4%
Properties Sold	6808	6014	2991	2813
New Listings/Sales Ratio	70.6%	62.4%	67.5%	58.6%

December Monthly MLS Statistics

Here are the December 2007 MLS monthly statistics from our two real estate boards:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 246,613	$235,791	$245,954	$210,829
Percentage Change	+6.7%		+16.7%
Properties Sold	301	309	124	151
New Listings/Sales Ratio	90.4%	86.3%	91.8%	89.3%
Properties For Sale Now	1151	1624	552	736

Welcome Keith Marshall to our Kitchener Office

Keith was born in Kitimat, BC and grew up in Victoria, BC, St Lawrence, NF, Thamesford, Kingston and Ottawa. He lived in Taiwan for ten years, where he was first a student, then a teacher, an immigration consultant, and finally an account executive with a large advertising firm.

He returned to Canada in 2000 and settled in Waterloo.

Keith has been married to Wenling for 16 years. They met in university, they have two beautiful and active teenage daughters Abby (13) and Sally (11). Abby is a musician, she plays piano and cello. This year she is playing in the KW Youth Orchestra. Sally is the soccer star, she plays on Waterloo’s rep team.

Since returning to Canada, Keith has been working in (print advertising) sales. He became licensed in September and is looking forward to the challenges of a real estate career.

Welcome to Dee Lenjo - Cambridge office

Dee and her husband Stan moved to Canada in 1994 from Novi Sad, Europe. They have to sons, Michael (8) and Thomas (5 ½). Dee has lived in the Cambridge area for 4 years.

Dee worked at a weather station in Europe and has also worked at a bank as a teller.

Dee speaks a number of languages including Slovak, Croatian and Serbian.

Dee is very proud of her to boys and is also very proud to have completed her courses at the Real Estate College.

Merry Christmas!

Merry Christmas to all the sales staff, support staff, and your families. Have a great holiday season and a prosperous 2008.

Ontario Government to Rebate Land Transfer Tax for First Time Buyers

The provincial government has announced that it is expanding the PROVINCIAL land transfer tax rebate for first-time buyers to include re-sale housing, something which REALTORS have lobbied for. The letter that initially came out was a little confusing, so some realtors thought that legislation already passed, which is not the case.
If you haven't had a chance to read this news here is more details for you:

First-time buyers of BOTH re-sale, and newly constructed homes, will be eligible for a rebate of the provincial land transfer tax of up to $2,000.
Effective for first-time buyers who enter into Agreements of Purchase and Sale AFTER December 13, 2007.
This change is being implemented by provincial legislation introduced on December 13, 2007. The Ministry of Finance has indicated that, until the legislation is passed, first-time buyers of re-sale properties eligible for the rebate can submit their applications for the refund and they will be processed once the legislation has passed. It is not known when the legislation will be passed. Buyers can consult with their lawyers if they have concerns.
The provincial land transfer tax rebate applies in all Ontario municipalities. In Toronto, the provincial rebate is in addition to City rebates of the Toronto Land Transfer Tax

November 2007 MLS Statistics

Here are the November 2007 MLS statistics from our two real estate boards:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 261,510	$227,642	$242,673	$228,580
Percentage Change	+14.9%		+6.2%
Properties Sold	503	439	196	212
New Listings/Sales Ratio	85.2%	67.2%	69.0%	59.6%
Properties For Sale Now	1117	1450	707	930

Welcome Robin Galt to our Cambridge office

Robin Galt has lived in Cambridge in her whole life except for the 4 years that she lived in Halton Hills.

Robin and her husband John have 3 children; Chris 26, Dave 19 and Michelle 16. Over the past 10 years Robin has been very busy with her children’s extra curricular activities including hockey, dance, swimming and music. Robin and her husband are extremely proud of their children’s accomplishments.

Robin has been an I.T. professional for 30 years in the manufacturing sector specializing in programming, EDI, RFID and Bar coding.

When Robin has some free time she enjoys playing golf, reading and taking Jazzercise classes.

October 07 MLS Statistics

Here are the Ovtober 2007 MLS statistics from our two real estate boards:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 254,247	$242,127	$260,507	$235,634
Percentage Change	+5.0%		+10.6%
Properties Sold	521	470	237	215
New Listings/Sales Ratio	72.0%	63.3%	69.3%	51.9%
Properties For Sale Now	1665	2075	733	960