Not familiar with Twitter? Twitter is a communication platform where posts are limited to 140 characters; it’s like ‘micro-blogging.’
In case you are not following me on twitter (you can go to twitter.com/BenjaminBach to sign up and ‘follow’ me), here are some commercial real estate news stories you will find interesting, that I ‘tweeted’ about this past week. Some are about the local real estate market in Kitchener Waterloo and Cambridge, Ontario, while other’s are about other markets in Canada, and a few are about the US commercial real estate market.
- A great Waterloo Region company! RT GHarrisCCIM: Keep the good news rolling….Toyota adds second Woodstock shift http://viigo.im/1KdW
Toyota Motor Manufacturing Canada Inc. (TM-N83.58-0.44-0.52%) will hire more than 800 workers and add a second shift of production at its plant in Woodstock, Ont., providing another shot in the arm for the Ontario economy and another sign that a recovery in the battered auto sector is under way.
- Just took a real estate investor to view a condo rented for $2k+ /month, for sale under $220k -gotta love Kitchener Waterloo!
(We’re involved in multiple offers on the above property. As of last night, there were ‘7 or 8 offers’ competing to buy this investment property!)
- TD and RBC lowering mortgage rates (as per the Kitchener Record) http://bit.ly/4y1j7d -if you need a *great* investment mortgage pro, msg me
- Housing Starts up in Kitchener Waterloo area http://bit.ly/7URBZj – another important metric for real estate
WATERLOO REGION — Led by the construction of single family homes, housing starts rose by 16.2 per cent in Waterloo Region in November compared to the same month last year. Foundations were poured for 273 housing units in the region, up from 235 a year ago, according to figures released today by Canada Mortgage and Housing Corp. November’s total was the second highest of the year, trailing only October when 344 homes were started.
- Kitchener Waterloo just featured in Fox news report as a strong economy. That’s 1 reason real estate investors buy rentals here – FOX News discovers Waterloo Region’s tech sector employment needs: http://bit.ly/796MBy
- Bank of Canada keeps overnight rate at historic low of 0.25%, saying it will stay there til mid-2010. Some say ‘rates won’t chng til 4Q ’10′
- Moody’s says US & Britain may "test" triple-A credit ratings. Canada considered safe, w ‘resistant’ ratings due to ‘strong fiscal position’
- Globe & Mail – Housing starts hit 2009 high http://bit.ly/53Gd1s
Housing starts hit their highest level this year in November, more proof that Canada’s real estate market has clawed out of recession. Starts rose 0.7 per cent to 158,500 units on a seasonally adjusted basis, as single-home construction outweighed a drop in multiple home activity, Canada Mortgage and Housing Corp. said Tuesday.
Record low interest rates are fuelling a rebound in Canada’s real estate market, spurring rising prices and a flurry of buying activity. The Bank of Canada today reiterated its expectation that rates will stay low until the middle of next year.
- Kitchener Waterloo real estate update: construction starts up for 2nd month in a row, over 2008. YTD Cambridge starts up 87.5% (as per CMHC)
- More info @ http://BenjaminBach.com RT @creanews: Real Estate Sales in Kitchener-Waterloo reach monthly high for 3rd cons. month in Nov
- CMHC spring 09 report says Kitchener CMA’s vacancy rate under 3% (& below province’s avg)
- Invest in what you understand or you can lose a fortune! These smart ppl lost millions in areas they didn’t know about http://bit.ly/7uPUDc
- Just spoke w/ real estate investor who owns 2 investment condos in Toronto; he thinks TO market is peaking & time to sell-what do u think? The investor from Toronto thinks their equity will make more $$ in Kitchener Waterloo & Cambridge, so they’re investing in real estate here
- RT @gregboutin: Guelph-Kitchener-Waterloo region might become silicon valley of Canada (I’m talking solar PV silicon) http://bit.ly/7wbiqK
Waterloo Region is on the list as a potential site for a solar module plant that could employ as many as 500 people, says the president of Kitchener-based Canadian Solar Inc. The company announced today that it plans to build a $24-million plant to produce solar modules for the Ontario market. It said it expects to make "definite decision" about the location in the first quarter of 2010.
- Real Estate Investors: good article (pdf) on how largest multi-family, apartment & investment sales in the US were financed in 2009http://bit.ly/5m6wGi
Includes details of how sales between $2.3 million and $109,500,000 have been financed this year in the States – Very interesting read!
- RT @creanews National Post – HOUSING RECORDS TO FALL; Red-hot Vancouver and Toronto drive totals http://is.gd/5caOl
November housing sales across the country are set to reach new highs based on fresh data from the country’s two most expensive markets.
The national numbers from the Ottawa-based Canadian Real Estate Association are not due out until mid-December but the Toronto Real Estate Board said yesterday it had its best November on record. Toronto’s news came on the heals of a Wednesday release from the Real Estate Board of Greater Vancouver that said sales activity in the city rocketed up 252.7% in November from a year ago.
What the latest numbers will likely mean is an improvement in the national average sale price, which was up 20% in October from a year ago – the largest such increase in two decades. The two cities tend to skew the national average price up or down, based on levels of sales activity.
For daily updates, follow me on twitter.com/BenjaminBach
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