The real estate industry is experiencing a record-breaking year in these unprecedented times.
“Booming” is how Geraldine Mahood describes what the market condition in the Waterloo region has been for the past six months.
Mahood, a Broker at Re/Max Twin City Realty Inc. and her dynamic team of individuals have been kept busier than ever with people both locally and from the GTA looking to make a move.
“The concept of home has shifted, our homes are doubling as classrooms, office, gyms, movie theatres etc. Now that people spend more time in their homes, they’re ambitious than ever to buy a home that satisfies all their live/work/play needs. More space, more versatility,” says Mahood.
“We’ve had a stream of people from the GTA, so we’ve got a ton of people coming this direction for value and for space. Waterloo region is offering more space, affordability and quality of life. For many, Covid-19 has amplified the work from home movement and in turn the commute obstacle is eliminated or offset for many GTA buyers.”
Mahood says COVID has made people want to move from their apartments, condos and houses in larger cities, to Waterloo Region mainly because they want more space. Lifestyles have changed, she explained, and their previous homes weren’t set up to comfortably accommodate the new normal. “Where open concept was a key inviting term for buyers, we are beginning to hear comments introduced regards putting doors on for a private office space and closing areas off.”
Mahood says people also want more outdoor space - places with backyards, swimming pools and property nearer to nature. This is not only because of restrictions during lockdown but also because of travel restrictions as COVID numbers remain high worldwide.
What the housing market in KW has experienced since COVID
Mahood says that prior to COVID, her brokerage had an extremely busy January and February. People, she said, thought this trend wouldn’t continue, however after only a four-week hiccup in mid-March, they’ve been consistently busy, continually exceeding monthly records.
“When the influx from the GTA began, it, in turn, caused many KW locals to take advantage of the heightened market, sell and in turn move further out for more space,” says Mahood. “We have seen many people - young people and empty nesters - make the move to full-time cottage living or buy a holiday cottage to make up for the restricted world travel we have all been affected by.
Success in real estate requires genuine service and a “clients first” approach
When you want to buy or sell there are many things to consider. This means you need an agent who truly cares about finding you the right home in the right neighbourhood for your family, while also being there for any questions and concerns.
Mahood says, like her team “she is blessed to have and couldn’t do it without,” she genuinely cares for her clients and they take great pride in and giving personalized and individualized service. “We want to build relationships,” she says. “People recognise honesty and integrity and that we genuinely care for our clients.”
With no signs of the market or the pandemic, slowing down, Mahood predicts the coming months will be as busy as ever, mainly because the inventory is low, demand is still high and interest rates are at record lows. That said, she’s dedicated to serving those looking to find their dream home.
If you want to buy or sell, Geraldine Mahood and her team would be happy to help. With 85 per cent of their clients coming from repeats business and word-of-mouth referrals, Mahood’s reputation and experience speak for itself. Call them today at 519-579-4110 or contact them for a free home evaluation.