Hi everyone:

It's an often-reported fact that Winnipeg's population is aging, and as such Condominiums are becoming quite popular. In fact, there are numerous advantages to owning a condo.

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A separate segment of condominiums are the 55-plus Condos. These are units with bylaws which state that the owner/occupant of the unit must be at least 55 years of age. (Some 55-plus condos have dropped this age requirement down to 50 yrs, in an effort to attract more buyers). By the way, only ONE of the owners of a suite needs to be of the specified age. For example, if the wife is 55, and her husband is 42, they qualify….. and I must add, “Good for Her!!!!”

For the right person, there are a number of advantages to these 'age-specific' condominiums. Here are a few:

1) Security: Many of these 55-plus condos are built with security in mind, sometimes with security cameras but almost always with good secure locks on well-lit entry ways.

2) Handicap accessible: Many buildings feature wider-than-normal hallways, doors and bathrooms, to allow access via wheelchair or walker.

3) “Community Spirit”: Quite often, the residents organize weekly pot-luck dinners, shopping trips, card-games and other outings.

4) “Birds of a Feather”: Since everyone in the building is 55-plus, and most often retired, residents tend to have a lot in common, and friendships are made easily…. if you WANT to do so.

5) Conveniences: Local grocery stores often arrange weekly bus-trip to their shops. Some condos arrange for a local nurse to attend monthly, or bi-monthly for a general visit.

6) Amenities: 55-plus buildings often feature amenities not found in regular condos. Things such as a library, a meeting room, a lounge with kitchen, a fitness room and more.

Home-owners who are thinking of selling their houses for a variety of reasons (want to travel, no more yardwork, security issues), but don't feel they are ready for a retirement community, might well consider checking out a 55-plus Condominium. There are a growing number of such communities in Winnipeg. For a sample list of addresses which feature “age-restricted' condos, click on '55-plus condominiums”.

In addition, there is a brand new building, which (at the time of this post) has a couple of suites for sale. To see one of these listings complete with interior photos, click here.

If you're thinking of selling your current home, and wish to discuss your options, please call me anytime. Bo Kauffmann at Remax Performance Realty 204-333-2202.

Hi Everyone:

I wanted to send out a quick report on the condominium situation in the south end of St Vital. I had recently noticed that there is a shortage of good quality condo listings in the south end, a factor which helped on of my recent listings sell for significantly over the asking-price.

Currently, in the south St Vital area, there are only 14 condos listed for sale, ranging in price from the low end of 575 sq-ft condo on Arden at $119,900 to a high-end, 1515 sq ft luxury condo at The Waterfront for $450,000.

During the month of June 2010, this same area saw a total of 19 condos sold, ranging in price from $117,000 to a high of $356,000. Of these, 8 condos sold ABOVE list price, 7 sold BELOW list, and 4 sold AT LIST.

During July 2010, a total of only 10 condos were sold in south St. Vital, ranging in price from $145,000 to $400,000. Of those, 4 condos sold ABOVE list, and 6 sold BELOW list.

While 'ultiple offers' are more rare in condominiums, our current shortage of listings is helping to create a situation where sellers can expect good activity on their condos, listed on the MLS® by REALTORS®

If you're looking to sell your condo, in St. Vital or other areas of Winnipeg, please call me anytime for a realistic market evaluation, and a look at my Customized Marketing Plan for your Condo.

Bo 333-2202

Hi everyone:

Looks like I just sold a condo in the 'yet-to-be-built' Dennistoun Condominiums on Roslyn Rd.

This exciting project, Dennistoun Condos, which is accepting pre-orders for suites at this time, is scheduled to start construction in the spring of 2011. Located on Roslyn Rd, just west of Osborne St, units range in size from 795 sq ft to 1200 sq ft and prices range from around $260,000 to $430,000.

I always advise my clients that there are 4 or 5 'should-have' items in a condominium. These are: Underground Parking, Insuite Laundry, Central Air, Concrete Construction, and Location, Location, Location.

Although this building is months away from construction start, it appears to have all of the above. Underground Parking is included in the larger suites (at no extra cost) and all suites have central air, furnace and insuite laundry. You certainly can't argue the location, in Osborne Village and right behind Safeway.

The condominium will feature 71 suites, and the developer requires that 30 units are reserved before going to the next phase. I'm told that now 23 are already reserved, so if you're thinking of buying a new construction condo, in a fabulous trendy Osborne Village area, don't delay. Call me anytime for more info... Bo 333-2202

Hi Everyone:

I just checked the condo-availability for Winnipeg, and found that there are currently 276 Condos in all price ranges. Lets look at some of the different price ranges:

$140,000 to $200,000:

There are 68 condos available in this price range, which many people would consider an 'entry-level' type of investment. In this price range you can expect to find 1 or 2 BR,s outdoor parking spot, most likely a Window A/C unit (although some of these might have central air), insuite laundry and balconies. There are some very nice condos available in the Swindon-Tuxedo area in this price range.

$200,000 to $300,000:

There are 87 condos available in this price range. Here you could expect to find Central Air, underground heated parking spots, larger suites (1000 sq ft and up) and more.

$300,000 to $500,000

Here you could expect to find a newer building and an upscale neighbourhood, such as Wellington Cr. Amenities should definitely include underground parking, c/air and furnace, and most likely a nice view of the river or the city. There are currently 61 condos available in this price range.

$500,000 and up:

Luxury galore: Expect full-service such as security personnel at the door, large suites and the better locations and views. There are only 13 condos in this price range, including 4 condos over $1 million, all of which are located on Wellington Cr.

If you're thinking of buying, or selling, a condo in Winnipeg, choose your agent wisely: While all REALTORS® are allowed to sell condos, not all of us are equally trained, experienced and qualified to do so. As a current condo owner, and past president of a condo board, I am ready to help you with your condo-decisions. Call me anytime.... 333-2202

Hi everyone:

I'm happy to report that my buyer just purchased a condo at 193 Victor Lewis Dr in Lindenwoods.

If you're looking for a condo in Winnipeg, let's set up a meeting and find you a great condo in Winnipeg. Call me anytime.

Hi everyone:

I just checked (May 21st, 2010) and there are currently 276 condos available for sale in Winnipeg. By comparison there are 935 houses for sale at this same time. What does this mean?

In 2009, condominiums made up approximately 15% of the total sales in Winnipeg. If we take 15% of the houses available, we come up with a number of 140. Which means that, at 276, there are twice as many condos available when compared to houses.

Houses, especially in the 'below $200,000' category, as usually subject to outrageous bidding wars. 10 or more buyers bidding on that first home, thus driving the price up to around the $300 per sq foot mark. As an alternative, you can find a very nice condo in a great part of the city for considerably less than that, and usually the buyer is able to get a financing condition or other type of condition into the offer.

So if you're looking for a 'starter home', or perhaps thinking of down-sizing and selling your house for top dollar, consider a condo right now.

Call me to discuss your options. Bo 333-2202

Here are some of the most common questions Home-Buyers have:

Q: Whats the best way to FIND a house in Winnipeg? Go to Open Houses? Looking thru real estate magazines? Search individual agents websites?

A: Magazines are often published once a month, or perhaps once a week. By the time a listing makes it into print, it's most often already sold or accepting offers. Open Houses can be very hectic, and you end up 'rubbing elbows' with lots of other visitors. The Best Way? Work with one REALTOR® who can show you ALL the listings. Someone like, say, me for example. Watch this video.

Q: Why should I work with a REALTOR®. I can find the houses on my own!

A: FINDING them is just a small part of what real estate agents can do for you. Once you find a nice house, I can help you evaluate it, offer advice on how to structure your offer to make it more acceptable (thereby winning any possible bidding war), and I can even help you get pre-approved by a great lender. Please watch this video.

Q: My checking account is with a bank. Can't I just go there to be pre-approved?

A: In this fast market, every buyer knows that pre-approval is required, so EVERY buyer already does that. It's no longer sufficient just to be pre-approved, its actually more important to be pre-approved by the RIGHT lender. To find out HOW you do that, watch this video.

Hi Everyone:

I've recently had several inquiries by First Time Buyers. In these days of 'bidding wars' for houses, especially in the south end, it is nice to see that $150,000 still buys a nice home.... albeit a condo.

Currently, there are 18 condos available in the south end of the city between $99,000 and $160,000. As an example, an 800-sq-ft condo which shows in absolutely impeccable condition, recently sold for $160,000, where a similar sized house in the same condition, with unfinished basement and no garage would fetch between $220,000 and $230,000 in the same neighbourhood.

Condos are an excellent alternative for First Time Buyers. If you're thinking of becoming a home owner, please call me anytime.

Hi everyone:

It has come to my attention that some private sellers are selling condos WITHOUT providing the proper condo documents to their respective buyers. If buyers are looking on their own and don't know the requirements, they can get stuck buying a condo without these documents. The problem arises that, if at the time of possession, the buyer discovers that the facts surrounding the condo were not properly presented, the buyer CAN back out of the deal, citing 'lack of condo document presentation' as their reason for backing out.

So here are the 6 items that a Condo Seller MUST (by law) provide to the Condo Buyer AT THE TIME OF THE ACCEPTANCE OF THE OFFER. The Buyer, upon receiving these documents, then has 48 hours to look them over (NOT counting weekends or holidays) and during those 48 hours the buyer can withdraw their offer for ANY REASON. So here are the documents, in order of increasing importance (in my opinion)

6) Management Agreement

This is the agreement between the condo corp. and the current management company. These usually run for between 1 and 5 years. I consider this the least important, because as a single owner, you would have very little influence over the management company. Plus, if they really do a BAD job, the corporation simply does not renew the contract.

5) Condo Declaration

Fairly standard legal-eze that was drafted at the time when the condo came into 'being'. It tells how the condo board meetings are to be held, and other legal issues. Fairly standard.

4) By-laws (and Rules)

Funny thing: It seems that someone, wayyyy back, drafted a standard set of by-laws and then EVERY condo uses these. The original set where obviously drafted for a high-rise condo building, and so you will see things like "No Laundry to be hung from the balcony". Whats funny is when you look at buying a stand alone bungalow condo and see this as part of the by-laws. For the most part, fairly standard, but as the condo grows and matures, owners can (and often will) update and add new rules. So looking at this a little closer is a good idea. Difference between "By-laws" and "Rules"? By-laws govern the entire building and property, whereas rules apply to the 'common areas', such as hallways and parking lots. By-laws require a majority approval of all owners (usually around 75%), but rules can be passed by the current board at any time.

3) Financial Statements

This is usually a couple of pages long and shows where all the money has gone in the past year (or two) So it will show a total amount of money received thru the condo fees (and other sources, such as parking fees, laundry fees in buildings with coin-op laundry), and then shows all the items that had been purchased and repaired and maintained over the past year or more.

2) Budget

This is the projected budget for the next year. Estimated costs of any repairs or improvements.

1) Condo Disclosure

THIS is the most important item. I've attached a sample condo document below. It will show whether there are any increases in condo fees being planned, any major repairs or renovations being considered, and special assessments coming along the way, any law suits or insurance claims pending against the condo. Keeping in mind that as the buyer, you are buying a small percentage of the entire building (or buildings), this is most certainly information you should have.

A final point: The Disclosure Certificate has to be dated WITHIN 90 days of the offer. So for example, if you are making an offer on a condo on April 15th, 2010, the date on the Disclosure can not be more than 90 days in the past... so that Jan 5th, for example, would not be acceptable.

I read a great reminder on a Jewelers business card a little while back : "If you don't know jewelry, KNOW your Jeweler".   And so I would like to say : "If you don't know Real Estate (especially Condos),.. KNOW your REALTOR®"

If you're thinking of buying (or selling) a condo (or a house), please call me anytime for a free consultation. Any REALTOR® can send you listings via e-mail, but my buyers are among the best prepared in the market. Let's go condo-shopping.

Conversely if you're thinking of SELLING your condo, please call me. As a condo owner, I DO understand them a fair deal better than the average agent, and this can come in handy when your prospective buyers have questions.

Bo 333-2202

Sample Condo Disclosure Certificate

Hi everyone:

In this crazy time of bidding wars (especially on entry-level houses) a first time buyer might consider purchasing a condominium for their first home. In fact there are many great reasons to buy a condominium, not just for a first time buyer. To see a list of reasons, read 7 Reaons

With 700-sq-ft bungalows selling in the south end of the city for over $200,000, there are a number of condominiums available for prices perfect for the first time buyer. To find out a little more, read Condos between 120K and 180K

As an example, an 800 sq ft apartment style condominium, with upgraded kitchen, bath, flooring, new appliances and much more, sell for approximately $160,000. And 1100 sq-ft townhouse condos, with c/air and insuite laundry can be purchased for approximately $165,000 to $170,000.

As an added bonus, although condominiums sometimes do receive multiple offers, these situations are far more rare, making condominiums an excellent choice for the first time buyer who need to put financing conditions into their offers.

Hi Everyone:

New listing on 24 Nova Vista Dr. 792 sq ft .. 2BR, insuite laundry, woodburning fireplace, all appliances and low condo fees of $249.05 INCLUDE the heat, water and usual condo perks such as grass cutting, snow shoveling and management fees. Improvements include upgraded kitchen and bath cabinets, new flooring, lights and paint and a proper insuite laundry.

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To see this condo, call or e-mail me soon.... Bo 333-2202

Hello everyone:

These days, with 'bidding wars' all too common in the 'entry-level' price range of $150,000 to $250,000, condos are an excellent alternative for first time buyers. When 700-sq ft homes are selling for $220,000 (without garages), there are 1100-sq-ft condos with insuite laundry, central air, full appliances and more.... selling for $165,000.

Currently in the south end of the city, there are 46 condos for sale in the $120,000 to $180,000 dollar range, many of which are NOT subject to the 'multiple offers' that individual homes are receiving. If you're thinking of buying your first home, take a look at some of these condos. To receive a list of available units, e-mail me at boknowshomes@gmail.com

Hi Everyone:

I've been invited to speak to a Heritage Group, comprised of retiree's who are interested in learning more about condominiums. In preparation for this presentation, I've examined some of the main reasons why condominiums in Winnipeg are popular, and some of the advantages that come with the condo life-style. So here we go:

1) A cost-effective alternative to houses

I've just listed and sold a 700 sq ft bi-level home which received 11 offers and sold for well over $200,000. No garage, no appliances included, nothing fancy...a good solid house with a few upgrades. By comparison, there are 1100 ft condos, with central air and central furnace, insuite laundry and all appliances that will sell for approx. $165,000. For First Time Buyers, who are sick of the bidding wars, this is an excellent alternative.

2) Lifestyle

Do you like to travel? Or perhaps you're both working full time and looking after the house and yard is a chore you simply don't have time for? Condos offer a simple 'lock-up-and-go' lifestyle. In many cases, your neighbours won't even know you're gone,....unless you tell them.

3) No Yardwork

Getting tired of shoveling all winter, and mowing all summer? Is house and yard maintenance weighing you down, or simply getting away from you? With Condos, you don't have to lift a finger. Walks are shoveled, grass is cut, garbage is picked up and halls and common grounds are cleaned and maintained. Just enjoy...

4) Security

Condos (especially Highrise Units) offer secure entrances, with security cameras and often even patrolling security companies. As a former police officer I can tell you that break-ins to high-rise condos are rare. While they DO occur, when compared to break-ins to houses, they are statistically insignificant. Piece of mind living in a secure condo.

5) Community

Many condo owners find that in a condo, their neighbours are enjoying a similar lifestyle, and so they have more in common with these folks. Many condos also offer "common-rooms" where people can get together and talk, or fitness rooms, pools etc etc. This is especially true for the 55+ buildings where all your neighbours are in a similar age group as yourself.

6) Lower Operating Costs

In most condos, especially in the highrise and townhouse variety, the building insurance is already included in the condo fee. As is the water-bill. And sometimes the heat and hydro as well. Building maintenance is included, so you dont have to worry about replacing a furnace, or the shingles or the windows. And if heat is NOT included, heating a 1000 sq ft apartment style suite is far less expensive than the average 1000 ft bungalow, often even as low as half the cost. (Thats because the units above, below and beside you help insulate you from the elements)

7) Benefits of Home Ownership

With some limitations, condo owners enjoy many of the same benefits as house owners. They can Live in the condo, Rent it out, Improve it, Give it away, Borrow Money against it and basically treat it the same as a house. The limitations (by-laws) are a two-way street: What some people see as limitations, others see as insurance against having a neighbour do something which would negatively affect YOUR property value. (Ex: Try selling your house after your neighbour has turned his driveway into a junk yard or used-car lot)

As a current owner of a condo, and past president of condo boards, I am able to talk about this subject with some level of knowledge and authority. So if you're thinking of a condo, in any style or price-range, please do not hesitate to call or e-mail me anytime.

Bo 333-2202

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I update this Blog on a regular basis, adding new listings, market updates, news and interesting (well, at least I think they're interesting) pieces of information. You can make sure that you receive the posts by two ways: Subscribe to the RSS (check the toolbar along the bottom of the screen) or fill in this form and you'll get the latest blog posts via e-mail, once a week.

Hi Everyone:

Are you a home-owner who has been thinking of selling and moving into a condo? Looking out your back window and remembering the copious amounts of yard-work which is just around the corner? Dreaming of 'getting away' and traveling, without having to worry about the house you left behind in Winnipeg?

Lots of home-owners are choosing condos for a variety of reasons, including Security, Flexibility to Travel, No Yard-Work and other reasons.

Currently in Winnipeg there are a total of 236 Condominium Units for sale, in all types, styles and price ranges. Condos in the price range of $300,000 and up are also plentiful, with 73 such units available at this time.

In this price range you will usually get central a/c, insuite laundry, underground parking, a nice spacious suite in an all-concrete building, a balcony with a view, and a variety of other amenities.

So if you've been thinking of buying a condo, please call me anytime for a consultation. I will show you "What's available", and at the same time I can also give you a Market Evaluation for your current home.

Call or e-mail me anytime,

Bo 333-2202

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I update this Blog on a regular basis, adding new listings, market updates, news and interesting (well, at least I think they're interesting) pieces of information. You can make sure that you receive the posts by two ways: Subscribe to the RSS (check the toolbar along the bottom of the screen) or fill in this form and you'll get the latest blog posts via e-mail, once a week.

Now may be a great time to shop for a condo...there are 232 to choose from in Winnipeg, representing all types, styles and price ranges.

Hello Everyone:

Here are the numbers of available condos in Winnipeg, as listed by Real Estate Agents:

Condos bet. 90K and 150K .. .....53

Condos bet. 150K and 200K .. .....33

Condos bet. 200K and 275K .. .....59

Condos bet. 275K and 350K .. .....33

Condos over 350K ... .. .....48

If you are thinking about buying a condo, please call me anytime. For more information, check out my Website

Hi Everyone:

My Client just bought this wonderful "Age-Restricted" Condo in Transcona. 777 sq ft, 2 BR condo with lots of amenities for the mature condo-owner: a library, a common meeting room, an excercise room and more. New construction, concrete building means nice and quiet living. The condo includes fridge, stove, dishwasher, a/c and insuite laundry.

If you're looking for a 50+ or 55+ condo, call me direct. There are a couple of units left in this same building, but they're selling fast. Also there are a few other 'age-specific' condos available in Winnipeg.

Call me direct, or e-mail me at boknowshomes@gmail.com

My website is at WinnipegHomeFinder

Hi Everyone:

Right now, (Sunday, Nov 8th) there are 224 Condos for sale in Winnipeg. This covers all types, styles and price ranges. So, if YOU are in the market for a condo, please give me a call, as I can show you ANY condo on the market.

Email me at boknowshomes@gmail.com

Here is my Website

Condo Buyers need to know about the Reserve Fund of the condo they are buying. If repairs and renovations out-strip the reserve fund, condo owners face a Special Assessment. This video explains