Update: Sage Condos is sold out, save for 3 penthouses which have not been released yet.  We have similar product available, contact us for details.

Sage Condos, Waterloo Ontario

This week we have had a lot of interest from real estate investors in Waterloo’s newest condo development, Sage Condos.

If you would like to review the cash flow projections and  condo floorplans click here to send us an email and we will send you full information.

Sage is a pre-construction condo development at the corner of Hickory & Spruce in Waterloo, very close to Wilfrid Laurier University, and steps to King Street.

Like most of the development in the surrounding area, this building is targetted to students; what sets Sage apart is that it is built to appeal to the sub market of students looking for a premium housing solution, something nicer than the typical apartments around campus, and they’re willing to pay premium rent for a premium condo.

Waterloo’s Student Housing Market

New Building in Waterloo’s Student Housing market  have been in strong demand by real estate investors because of the strong & stable cash flow they offer.  The issue that most investors have is that the size of these student housing apartment building (typically priced from $1,200,000 and up) require more equity invested as a down payment than may be available.

Sage Condos solves this problem, by offering a brand new student rental building with condominium ownership – meaning that you can buy one unit in a brand new building rather than having to buy the entire apartment building.

The Sage Condos Opportunity for Real Estate Investors

Sage Condos has been specially designed to be an easy real estate investment to own.

The developer has partnered with DOMUS property management to offer turn key hands off property management for owners, and DOMUS has a very generous incentive offer available for people who purchase at Sage (full details available).

The developer is also offering a rental guarantee for the first year, something that is not available with other new condo developments in Waterloo.

Action Required

If you’re interested in a hands off student housing investment, this property is worth strongly considering.

If you would like to review the cash flow projections and  condo floorplans click here to send us an email and we will send you full information.

Public sales start Monday January 23 2012 and the developer is expecting to sell out very quickly.

Advance sales have been strong, and we think the pace will accelerate when access is opened up.

If you would like to receive priority choice of units, contact me immediately.

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This mid rise condo development was just completed this year, and has a prominent Uptown Waterloo location at Bridgeport & Peppler.

Momentum Developments is getting a lot of love around Waterloo these days for the release of their new development, RED Condominiums, which debuted last night to a VIP crowd and proceeded to sell out half the building.

the42 Condos on Bridgeport

The residential condos were completed this summer, and the building was registered as a condo last month.  Once a condo building is registered, owners receive title (ownership) and can sell their units on the MLS if they wish.

the42 Condos Resale Prices

Since registration, two condos have sold at the42, and the prices bode very well for everyone who bought back in 2008 during pre-construction.

A 2 bedroom unit was just sold by a private owner, and it sold for $392 per square foot.

A second unit was sold, and it hit $400 a square foot.

the42 Condos have been a very good investment so far – the average price was under $300 per square foot when these were sold pre-construction.

the42 Condo Penthouse Interior Images

PS – remember these great pics? They’re from a 2 bedroom + den at the42 owned by WonderfulWaterloo member Sampson

Feel like there is more natural light in this kitchen than most other?  You’re right.

The owner of this residence worked with the builder to customize the floorplan, moving the kitchen adjacent to the terrace and it’s wall of windows.  I think it looks terrific – and it’s unique.

Notice the low VOC bamboo floors, just one of the lower impact “green” options that Momentum Developments offered at the42.

the42 Condos For Sale

For pricing & availability of the42 condos in Waterloo, call me at 519-772-4376 or email me directly at Benjamin AT BenjaminBach DOT com.

If you are interested in other Waterloo Condos, let us know what you are looking for. We have a selection of condos available under $200,000, as well as other pre-construction developments.  Whatever type of real estate investment you’re looking for, we can help you with it.

There are currently two units at the42 condos for sale – let me know if you’d like to set up a private tour.

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They had a VIP launch last night, and are now over half sold – after just one day!

RED Condominiums in Waterloo 1/2 Sold Out

Momentum sold more than half the units at RED.

Every unit under $300,000 sold.

Every Studio unit sold. (Pricing was between 218,900 and 241,900)

Every 1 bedroom condo sold. (Pricing was between 257,900 and 344,900)

All but one of the Sub Penthouse residences (fifth floor) sold.

One Penthouse residence sold.

There is a great selection of 1 bedroom + den units, and two bedroom units left – everything else has been sold.

Big congratulations to the team at Momentum Developments – you’ve brought another exciting project to Waterloo, and the market has responded with a resounding ‘Thanks!’

If you’re interested in floorplans, we have them available here:  RED Condo Floor Plans.  If the floorplan you’re looking for hasn’t been added to our site yet, just send me an email & I will send it directly to you.

For pricing information, call me at 519-772-4376 or email me directly at Benjamin AT BenjaminBach DOT com.

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RED Condominiums by Momentum Developments in Waterloo releases Floorplans

RED Condos will be at King & Allen in Waterloo, right across from the Bauer Lofts.

Plans call for 11 studio units, 17 1 bedroom units, 18 1 bedroom +den, 13 two bedroom units and 4 two bed + den units.

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There are lots of options!

Andrin is building new condos in downtown Kitchener next to City Hall – The City Centre condos – and these start under $200,000.

The Kaufman Lofts are already built (Andrin converted a historic factory a few years ago into this award winning development) and have lofts for sale available now under $200,000.

If you’re interested in a free list of condos in Kitchener Waterloo under $200,000, email me or give me a call at 519-772-4376

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Momentum Developments, the firm behind the42 and BPR Lofts has announced a gorgeous new Condo project across from the Bauer Lofts in uptown Waterloo.

Check out the designs:

Click over to Will this be the Sexiest Development in Kitchener Waterloo? to see the rest of the renderings

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KW Commercial is proud to present 10-335 Northlake Drive in Waterloo, Ontario for sale. Update: This property has been sold to a real estate investor.

This well maintained two bedroom condominium is in a terrific Waterloo location near high tech companies like RIM, Descartes, AGFA, Google, Open Text, as well as the two Universities and Conestoga College. It is currently tenanted.

Click map to enlarge

Built in the early 1990s, this complex is ideally set near the St Jacobs Farmers Market, beautiful walking trails, and is a short drive to an Expressway onramp which leads to 401 highway access. Pearson Airport is about a one hour drive away, depending on traffic of course.

There is a Light Rapid Transit (LRT) station planned at Northfield & Parkside, a short walk away (at the top of the map below). The proposed LRT plan would allow a tenant to walk to the LRT station & take it all the way to Fairview Park Mall, and eventually Sportsworld Crossing and into Cambridge, Ontario.

Proposed LRT map. Click map to enlarge

The combination of a quiet country setting, proximity to major employers & access to transportation makes this a location tenants will continue to love.

We have a number of clients who own units in this complex, it has done well by Keller Williams clients over the years.

Offered for sale at $ 145,000

For more details, contact Benjamin Bach at 519 570 4447 or via email

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There were 43 condos sold in Waterloo in April 2010 vs 27 in April 2009.

Of interest to real estate investors, there were 4 sales at the Northlake Condos, a complex where several of our clients own rental units.  Three basement units sold for between $133,500 & $134,000, and an upper floor condo sold for $143,200 in multiple offers. 

This building continues to be very desireable for home buyers and real estate investors due to it’s affordable price, great location, and nice condition.

The most affordable condominium sold in Waterloo went for $115,000, and the most expensive condo sold in April went for $360,000

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Real Estate Market Statistics for Canada and Kitchener Waterloo

(Ben’s Kitchener Waterloo real estate market update is at the bottom of this article)

Keller Williams Realty’s Real Estate Market Update for Canada

This Month in Real Estate Video Report for Canada Market – April 2010

Commentary:

Research from Keller Williams Realty International Canada’s economy continues to show its resilience as a “string of indicators suggest Canadian economic growth is robust, and gaining strength.” Inflation has begun to rise, so to keep within the targeted 2 percent, the Bank of Canada plans to follow suit with raising its interest rate. It will not extend the conditional commitment to keep interest rates at historically low rates past the original expiration date this June. The economy is looking stronger, the housing market is still hot, and confidence has risen. The government previously warned that the loonie’s rise to parity with the U.S. dollar could pose potential setbacks for Canadian businesses that export. With much improved demand from the United States and a more entrenched recovery in Canada, the government’s tone has changed. Flaherty has stated that the loonie “continues to keep the nation’s economy competitive.” While things are certainly looking up from a year earlier, it’s important to note that the commodity base of Canada’s economy leaves it somewhat susceptible to external forces such as global demand, currency rates, and commodity prices.

Housing Market:

Home Sales: Existing home sales activity totaled 42,799 units in February. This stood 44 percent above activity in February 2009 and was 59 percent above the December 2008 level, when sales reached their lowest levels since June 2000. New, tougher mortgage rules (in effect April 19) the new harmonized sales tax in Ontario and British Columbia (beginning on July 1), and the prospect of higher short-term interest rates in the coming months will act as catalysts to push potential home buyers off the fence and heighten an already strong spring market. Average Home Price: Low supply and strong demand continued to boost prices. The national average home price was $335,655 in February, up 18 percent from February 2009 and 22 percent more than January 2009 (when prices fell to the lowest level in almost three years). Inventory: Sales-to-Listings Ratio While new listings edged up 2.4 percent to 73,849 units from January 2010, the highest level since October 2008, strong resale housing demand continued to draw down inventories. At the end of February, there were 15.4 percent fewer homes listed for sale than a year before. Even after three consecutive months of slowly building supply, inventory levels remained near record lows with 4.7 months of homes available for sale. As national sales activity has slowed in recent months while new listings continued to rise, the housing market has become more balanced with a sales-to-listings ratio of 58 percent. Mortgage Rates: Average for: 25-Year Amortization, 5-Year Term In March, the 5-year conventional mortgage rate rose to 5.85 percent. With rates on the upswing indicating that the housing market is poised to cool off, the projected, gradual softening of the market will add to a more sustainable long-term affordability level for many Canadians. Sources: Conference Board, The Canadian Real Estate Association, Royal Bank of Canada, Canadian Mortgage and Housing Corporation, Bank of Canada

Notable News:

2010 Budget: Continued Stimulus and Plans to Balance In early March, the government outlined their plans for the 2010 budget. Experts believe a steady hand in an uncertain global economic environment will help maintain Canada’s position as one of the strongest economies. Flaherty plans to spend the remaining $19 billion of the $47 billion two-year stimulus package as outlined in last year’s budget. Although the actual deficit number has been widely debated in the press, the government plans to return to a balanced budget in the coming years through targeted cuts in public service spending, freezing foreign aid, limiting military spending, and raising employment insurance premiums. Lower corporate income taxes are still on target to be adjusted from 19 percent to 15 percent along with a commitment to free and open trade, as shown through a lack of tariffs, are intended to make Canada an attractive place for businesses to invest. Source: Financial Post

Timely Topics:

Mortgage Insurance Changes Over the past year, Canada’s housing market has proven to be robust. Although the most recent indicators point to a balanced market, the government is taking steps to ensure the stability of the market with efforts to prevent a bubble. The following changes to mortgage insurance will take effect on April 19: 1. Even if borrowers opt for an adjustable rate mortgage, they must qualify for the current fixed-rate mortgage. 2. The maximum equity a borrower can withdraw during a refinance has been lowered from 95 percent to 90 percent of the property value. 3. Down payment requirements have quadrupled for investors who do not intend to occupy the property from 5 percent to 20 percent. For more information about mortgages for investment properties, read this article: New Investment Property CMHC Mortgage Rules & downpayment options in Canada

April 2010 Real Estate Market Statistics for Kitchener Waterloo (for the real estate board MLS)

from April’s Real Estate Sales in Kitchener Waterloo set Record

Another very busy month for real estate in Kitchener Waterloo – 724 homes were sold in April 2010, up 12.6% from April 2009′s volume. The previous record for sales in April was set in 2007 with 711. The average price of a single detahced home sold in Kitchener Waterloo in April rose to $327,196, an incrase of 12.3% over the average price reported in APril 2009. The average value of a semi-detached home incrased 17.4% from $196,429 (average, April 2009) to $230,582 (average, April 2010), and the average sale price of condos increased 7.2% to $176,117. Market Summary: Volume is up; Prices are up. Mortgage interest rates continue to rise, so if you’re looking to make a real estate investment in the next few months, it is profitable to lock in your loan interest rate now (ask me for details on how to do that) so you don’t end up paying more each month for the same property.

For questions about the current real estate market in Kitchener Waterloo, call me now at 519 772 4376, or email me at Benjamin@BenjaminBach.com

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