Mortgage Insurance: What are your options?

.[caption id="attachment_2043" align="alignright" width="300" caption="Credit to Feathered Tar photostream on flickr"][/caption]Buying a new home is an exciting experience because it represents your hopes and plans for the future. For most Canadians, it also means having a mortgage and making regular mortgage payments. Often the financial institution you have your mortgage with will offer you mortgage insurance. Is it the right thing to do? Does it offer the protection you need?

What is mortgage insurance?

Mortgage insurance pays off the amount left owing on your mortgage if you pass away. Here are some facts you should know before deciding on how best to ensure that your mortgage is paid off in the event of your death:-        The amount covered by mortgage insurance decreases as the amount owing on your mortgage decreases. However, premiums DO NOT decrease, they remain the same.-        The insurance proceeds are paid directly to the financial institution.-        You may not be able to take your insurance with you if you move your mortgage to a new mortgage company. This means having to provide current medical and health evidence to become insured.-        You may not be able to insure both you and your spouse if the mortgage is registered in only one person’s name.

What is the alternative?

Having your own individual life insurance policy offers you the protection of covering your family’s financial needs including your mortgage in the event of your death. You also have the flexibility of naming a beneficiary of your choice. Your family may decide to use the benefit to pay down a low interest mortgage and invest the rest. Or they may need the finds to cover other expenses. The choice is theirs.Also, it’s important to remember that since you have an independent life insurance policy from your mortgage, you can transfer your mortgage from one lender to another without affecting your coverage. You can also choose between temporary insurance and permanent insurance which can be a part of your long term financial plan. You are able to insure both spouse for whatever amount you’d like so that you can cover other debt or financial needs as well.The choice is yours but having a discussion with someone that is well versed in both options is important.

To discuss your best options for Mortgage Insurance, please call me anytime.

How to spend a wintery day in downtown Winnipeg

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[caption id="attachment_1924" align="alignright" width="300" caption="Credit to Agent Magenta photostream on flickr"][/caption]

With the weather getting chillier, it’s tempting to stay indoors as much as possible. But you don’t necessarily need to stay at home when you have the joys of downtown Winnipeg at your fingertips! If you’re feeling restless sitting on the couch but you’re reluctant to expose yourself to the freezing temperatures, explore downtown Winnipeg to see what indoor activities the city has to offer.

Here’s how you can spend an entire day in downtown Winnipeg in the winter:

For breakfast, visit Deseo, the new restaurant at the Royal Albert Arms. Rather than focusing on traditional fare, this tastefully-decorated, glass-walled bistro features Spanish-inspired meals such as scrambled eggs with chorizo and cornbread.

After lingering over breakfast, take a wander to downtown Winnipeg’s Red River Book Shop. It boasts an impressive collection of second-hand books from which you can find some real gems. Music lovers can walk down a block from the bookstore to check out Into the Music – not only does it have a number of great records, but the store also has information about upcoming shows and you can buy tickets right there to see bands play at local venues (many of which are right there in downtown Winnipeg).

Art is a hidden delight in downtown Winnipeg. There are artists and art shows at many of the historical buildings that you walk past as you wander through the streets of the Exchange District. The Cre8ery has a wide variety of different styles of art to satisfy all tastes.

Take a lunch break at Mondragon or The Fyxx; from sandwiches to soups to curry, there are plenty of options. Many of the dishes are made with local ingredients and everything at Mondragon is vegan.

Browse Toad Hall Toys in the afternoon for some creative, fun ideas for Christmas presents. This downtown Winnipeg toy store is famous across Canada and adults will find the products supplied here to be just as entertaining as children will.

If your idea of shopping involves clothes, walk into any of the boutique outlets all within a few blocks of each other on McDermot Avenue in downtown Winnipeg. There are stylish New York designs, vintage options and clothes made by local designers to choose from.

Stop at BluFish for an excellent sushi dining experience; afterward, see a theatre performance at Manitoba Theatre Centre (either the main stage or the Warehouse theatre down the street) or at the Prairie Theatre Exchange at Portage Place. People interested more in cinema than theatre will enjoy the unique Cinematheque, which often showcases work by local filmmakers. Towne 8, IMAX and the Globe Cinema are other great movie theatres in downtown Winnipeg.

To complete your day, go for a drink at The Lo Pub, Yellow Dog Tavern or King’s Head Pub to rehash the theatre or film performance that you just saw. If you’re still feeling lively, extend your visit to downtown Winnipeg by putting on your dancing shoes and going out to one of several clubs in the area.

Head home at the end of your day knowing that you have put a cold, wintery day to good use: downtown Winnipeg is brimming with indoor culture for you to enjoy all winter long.

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• Downtown Condo Life: A new owners' perspective and advice (bokauffmann.com)

Land Titles Transfer Tax:  A financial 'kick in the 'nads'

. [caption id="attachment_1890" align="alignright" width="300" caption="Credit to Robert Galloway photostream on Flickr"][/caption] A few weeks ago, I wrote about Winnipeg Land Titles office, and the reason why there is usually a 3 to 4 week delay between the date-of-possession for a home, and the date-of-receiving money for the sale.  A couple of days ago, I sat down with a nice couple who were writing an offer on a house, and the conversation turned to the 'Closing Costs' of the purchase.  The conversation went something like this:

Mr. Buyer: So aside from the lawyers fees (which we had already discussed), what other costs will I need to budget for? Bo: Well, there will be home insurance.  Good news is that you won't have to pay any property taxes, because we're doing this in January.  But of course you have to budget for the Land Titles Transfer Tax. Mr Buyer:  A tax?  Just for changing the title of the house?  How much is THAT going to cost?

I did a quick mental calculation, and gave him the cost, and then watched as his face went thru the classical 5 stages of grief, from Denial ("This Can't Be Right), to Anger ((F*#@ing Govm't), Bargaining (Isn't there a way around this), Depression (Oh, Man.....that's alot of dough) to finally  Acceptance (Well,  It IS a nice house and there is NO WAY around it, short of leaving our province).  So just how much is the government raking in with this tax?

Land Titles Transfer Tax calculation:

While Manitoba is not the only province to impose this tax, it is by far the most aggressive and onerous.  Thru a set of formulas, we arrive at a figure of $1720 for a $200,000-house or condo.  With Winnipeg's average house price hovering around the $230,000 mark, we can see that our Provincial Government is collecting approx. $2000 in taxes, EVERY TIME the title of a house is transferred.  But wait, you say....  didn't Bo just tell us that it costs $1720 for a $200K home? Yes, but I haven't told you the worst part:  ABOVE the $200K price, this tax adds an additional 2% on EVERY DOLLAR. So, a $300,000 home will cost you $3720   (calculated by adding the $1720 base, plus 2% on the additional $100,000 price = $3720) While the Land Titles Transfer Tax is especially difficult for young, first-time home buyers, even people 'with money' find an added tax of 4 grand or more to be a financial 'hit'.  For that reason, Winnipeg REALTORS® have been lobbying to change this regressive tax.  Let's bring it more in line with other western provinces.  Ideally, inline with Alberta, where a $200K home costs $75 in Land Titles Transfer Tax and a $300K home costs $95.  But heck, let's not even look at those numbers, lets instead compare to my wife's home province of Saska-Bush ....  where it costs just $1200 to transfer the title of a $400,000 home.   Manitoba's fee for transferring the Title of a $400,000 home:  $5,720 For a look at more comparisons and for a more in-depth article on the Land Titles Transfer Tax, go to the Winnipeg REALTORS® website at http://2muchltt.com There is even a link to contact your local MLA...remember, next year's election is only about 10 months away.

Let's do something about this Land Titles Transfer Tax.

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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.

[caption id=”attachment_1197” align=”alignright” width=”240” caption=”Photo by Jonathan Grundy on Flickr http://www.flickr.com/photos/32709437@N02”][/caption]

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:

As we do every month, Winnipeg REALTORS® have issued their monthly real estate market update on MLS® statistics regarding the sales and listings of houses and condominiums in Winnipeg for September 2010.

[caption id="attachment_1191" align="alignright" width="240" caption="Photo by ryemang's photostream on Flickr"][/caption]

As always, these statistics cover the sales and listings for the entire south-east area of Manitoba, including Winnipeg, Steinbach, and all towns and rural areas in this vircinity. For a look at my own real estate market update of Winnipeg-only, see this Real Estate Market Update Video.

For the month of August, 2010, Winnipeg REALTORS® report that sales were down 12% when compared to August 2009, and dollar-volume was off 5%. Overall, however, dollar volume for the year was up 11% to this point, when compared to 2009. As well, the numbers of listings entered onto MLS®, at 14,843 so far, was up 15% when compared to the same time in 2009.

As usual, the most active segments of the market were homes in the $150,000 to $199,999 range, and the $200,000 to $249,999 range, which had 22% and 21% of the market, respectively. This is to be expected, as these usually represent the price ranges for 'first time buyers', who are after all the driving force behind the Winnipeg Real Estate Market.

Days on Market, which measured the time it take to sell a home, for residential detached homes was at 30 days, which is equal to August 2009, and 2 days slower than July this year. Of note is the fact that homes in the $150,000 to $200,000 range sold in only 20 days. Condominiums are still an excellent alternative for the first time buyer.

As for condominiums, the most active price ranges were in the $150,000 to $199,999 range, followed by the $100,000 to $149,999 range at 33% and 27% respectively. Average days on market for condos was 34 days, which is 3 days slower than July, but 6 days faster than August 2009.

For a complete look at the press release, click on Press Release 09-09-10 August 2010 MLS Statistics

If you're thinking of buying or selling a house or a condo in Winnipeg, call Bo Kauffmann of Remax Performance Realty for a realistic market evaluation. Call 204-333-2202 today.

Hi everyone:

With approximately 1400 Real Estate agents in Winnipeg, home sellers appear to have a lot of choice when it comes time to sell their house or condo in or around Winnipeg. Some choose to go with an agent they've used before, perhaps even a relative or close personal friend. Some folks shop around for the lowest commission, but selecting a Listing Agent isn't the same as buying a pound of flour: All REALTORS® are NOT the same, and they don't use the same marketing plans. So when it comes time to list your Winnipeg house or condo, compare agents based on what they do for you!

Perhaps the biggest difference between Listing Agents is their Marketing Plans. The average agent is content to placing the home onto the MLS®, perhaps show it on their own website (assuming they HAVE a website) and advertising it in the local Winnipeg Real Estate News. Here is a graphic of what their plan might look like:

Average Agent Marketing Plan

I've always been taught: average efforts bring average results. The average agent sells 17 homes per year in and around Winnipeg, and the average Listing has a success rate of approx. 70% (give or take a point or two).

Now, with 80-85% of buyers starting their search on the internet, I personally feel that no marketing plan is complete without comprehensive Internet Promotions. My listings also go on the MLS®, into the Winnipeg Real Estate News and into my website, but my plan goes well beyond those points. Here's a look

My Marketing Plan for your Winnipeg Home

[caption id="attachment_1140" align="aligncenter" width="600" caption="Extensive Marketing Plan for your Winnipeg house or condo"][/caption]

I believe that when it comes to marketing your home or condo, 'more is better'. Some of my competitors have said "Achh, you don't need all that stuff, Winnipeg's market is hot and houses sell quickly". Keep in mind that 70% of houses sell...... which means 30% DON'T. By the time a home-seller discovers himself to be in that 30% group, it's usually too late to add "all that stuff"....   Like my dad always said "Better to have it and not need it, than to need it and not have it."

For YOUR market evaluation, call me anytime. Bo 333-2202

Real Estate Market Update report for Winnipeg in September 2010. Stats on listings and sold houses and condos in Winnipeg's hot real estate market

Here we take a look at how many homes are available on the real estate market in Winnipeg, and how many have sold in the past 31 days in Winnipeg. By combining these factors, we get a good idea of where Winnipegs Real Estate Market is heading.

If you're thinking of buying or selling a house or a condo in Winnipeg, please call my anytime. Bo 333-2202

Hi everyone:

I just came across an excellent resource for mortgage rate, interest rate, insurance rate and credit card rate information. Check out the blog at ratesupermarket.ca

This site features input by some very impressive contributors. While NO ONE can predict interest rates with 100% accuracy, being able to draw on the experience of some of the countries top mortgage experts gives ratesupermarket a nice advantage in this effort.

The site blog includes categories such as Mortgage Tips, Housing Market, Real Estate and dozens of others.

This month's Mortgage Rate Outlook predicts that fixed rates are expected to remain the same, 'with downward bias', and variable rates are also expected to remain the same.

This continues to be an excellent time to purchase a house or condo in Winnipeg. Inventory levels are up slightly, and due to summer vacations, buyer activity is down a little, meaning that your chances of finding and actually getting a house are increased.

If you're looking to purchase a home (house or condo) in Winnipeg, please call me anytime. Bo 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

Hello Everyone:I just wanted to give you a quick look at the real estate market in one of Winnipeg's upscale neighbourhoods:  Lindenwoods and Linden Ridge.Currently, there are only 12 homes for sale in this prestigious area, ranging in price from $359,900 to $874,900.  in the past 31 days, 10 homes have sold here, ranging from $365,500 to $820,000 in price.Looking back to the month of June 2010, there were 18 homes sold in Lindenwoods-Linden Ridge, ranging from $319,900 to $625,000.  Of those, 6 sold ABOVE list, 6 sold BELOW list and 6 sold AT LIST price.During the month of July 2010, we saw 21 homes sold, ranging from $320,000 to $820,000 in price.  Of those, 16 sold BELOW list price while 5 sold ABOVE list price, although in most cases, the difference was small.As expected, during the July (and probably for August as well), bidding wars do slow down.  Savvy real estate agents take this into account when setting the list price of the home, as they can no longer count on 'multiple offers', and are well advised to set a more realistic asking-price for the home.If you are looking to buy a home or condo in Winnipeg, please call me for a copy of my Home-Buying Guide, explaining the process of finding, offering on, and getting a home in Winnipeg.If you are thinking of SELLING your Winnipeg home or condo, call me for a straight forward, realistic market evaluation and a look at my Customized Marketing Plan for your home.Bo  333-2202

Hi everyone:

With approximately 1400 Real Estate agents in Winnipeg, home sellers appear to have a lot of choice when it comes time to sell their house or condo in or around Winnipeg. Some choose to go with an agent they've used before, perhaps even a relative or close personal friend. Some folks shop around for the lowest commission, but selecting a Listing Agent isn't the same as buying a pound of flour: All REALTORS® are NOT the same, and they don't use the same marketing plans. So when it comes time to list your Winnipeg house or condo, compare agents based on what they do for you!

Perhaps the biggest difference between Listing Agents is their Marketing Plans. The average agent is content to placing the home onto the MLS®, perhaps show it on their own website (assuming they HAVE a website) and advertising it in the local Winnipeg Real Estate News. Here is a graphic of what their plan might look like:

Average Agent Marketing Plan

I've always been taught: average efforts bring average results. The average agent sells 17 homes per year in and around Winnipeg, and the average Listing has a success rate of approx. 70% (give or take a point or two).

Now, with 80-85% of buyers starting their search on the internet, I personally feel that no marketing plan is complete without comprehensive Internet Promotions. My listings also go on the MLS®, into the Winnipeg Real Estate News and into my website, but my plan goes well beyond those points. Here's a look

My Marketing Plan for your Winnipeg Home

[caption id="attachment_1140" align="aligncenter" width="600" caption="Extensive Marketing Plan for your Winnipeg house or condo"][/caption]

I believe that when it comes to marketing your home or condo, 'more is better'. Some of my competitors have said "Achh, you don't need all that stuff, Winnipeg's market is hot and houses sell quickly". Keep in mind that 70% of houses sell...... which means 30% DON'T. By the time a home-seller discovers himself to be in that 30% group, it's usually too late to add "all that stuff"....   Like my dad always said "Better to have it and not need it, than to need it and not have it."

For YOUR market evaluation, call me anytime. Bo 333-2202

Hi everyone: With approximately 1400 Real Estate agents in Winnipeg, home sellers appear to have a lot of choice when it comes time to sell their house or condo in or around Winnipeg.  Some choose to go with an agent they've used before, perhaps even a relative or close personal friend.  Some folks shop around for the lowest commission, but selecting a Listing Agent isn't the same as buying a pound of flour:  All REALTORS® are NOT the same, and they don't use the same marketing plans.  So when it comes time to list your Winnipeg house or condo, compare agents based on what they do for you! Perhaps the biggest difference between Listing Agents is their Marketing Plans.  The average agent is content to placing the home onto the MLS®, perhaps show it on their own website (assuming they HAVE a website) and advertising it in the local Winnipeg Real Estate News.  Here is a graphic of what their plan might look like:

Average Agent Marketing Plan

I've always been taught:  average efforts bring average results.  The average agent sells 17 homes per year in and around Winnipeg, and the average Listing has a success rate of approx. 70% (give or take a point or two). Now, with 80-85% of buyers starting their search on the internet, I personally feel that no marketing plan is complete without comprehensive Internet Promotions.  My listings also go on the MLS®, into the Winnipeg Real Estate News and into my website, but my plan goes well beyond those points.  Here's a look

My Marketing Plan for your Winnipeg Home

[caption id="attachment_1140" align="aligncenter" width="600" caption="Extensive Marketing Plan for your Winnipeg house or condo"][/caption] I believe that when it comes to marketing your home or condo, 'more is better'.  Some of my competitors have said "Achh, you don't need all that stuff, Winnipeg's market is hot and houses sell quickly".  Keep in mind that 70% of houses sell...... which means 30% DON'T.  By the time a home-seller discovers himself to be in that 30% group, it's usually too late to add "all that stuff"....   Like my dad always said  "Better to have it and not need it, than to need it and not have it."

For YOUR market evaluation, call me anytime.  Bo  333-2202

Hi everyone:

My buyer just purchased this lovely home at 102 St. Mary's Rd. in Winnipeg.

If you're looking to buy, or sell a house or a condo in Winnipeg, please don't hesitate to contact me. Bo 333-2202

Hello everyone:

Let's start with a "Note to Home-Sellers: STOP listing your homes for LESS than you are willing to ACCEPT!!!!"

So here is the scenario: I've got a buyer, pre-qualified and approved for up to $200,000. This week, we find a nice home, listed at $196,000. The home-owner has tried the "Showings Start Friday, Offers on Tuesday" deal, in an effort to bring in multiple offers and drive the price up. Alas, its July and they only had a handful of showings, and no offers.

So my buyer decides to write a very nice and clean offer, and we present it to the Listing Agent and the owner. My buyer is 'pumped'.... could this be the one? I'm excited too. ... Until we get the call that the owner has turned down the offer! And NOT JUST turned it down, but refusing to even counter-offer it. As the Listing Agent explained, the owner had her sights set on $20,000 more, and would not sell for the asking-price.

And so my initial caution from up top: DON'T list your home for less than you're willing to accept!"

I understand that there are times in the year when a low-pricing strategy will work. It's a pretty safe bet that, given our current market, if you list your home with a REALTOR® in the spring time, and the home shows well and is priced well, you're going to get multiple offers. Unfortunately, some agents rely on this strategy ALL YEAR LONG, but guess what: Marketing Strategies are not like Spandex pants: One Size DOES NOT fit all!

Even Winnipeg's hot real estate market will have slow times, such as July and August, and again in December-January.   a strategy which works in April or May, could backfire on you in July, when Winnipeg Home Buyers traditionally 'take a break', and instead of 35 showings, the home receives only 6 (or even fewer).

Experienced agents, who have been thru these seasonal cycles, understand this, and create special marketing plans for these situation. (Actually, the Marketing Plan should fit not only the season, but the type and style of home as well.... ONE SIZE DEFINITELY does NOT fit all situations).

Now for the good news: Just because the market is a little slower, does NOT mean you wont get as much money as your neighbour did in the spring!! It just requires a different approach, a plan that does not simply count on "Low-Price = Bidding War" type of thinking.

So if you are a home-owner thinking of selling their home, call me for your special and customized marketing plan. One of the first questions I will be asking is "When are you thinking of selling?"..... because the timing is an important factor in creating the proper marketing plan for your home.

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:

This has happened to me a couple of times this spring: a 'new' client (new to ME) calls me and we meet in my office and discuss the house (or condo) buying process. I will usually ask; "Have you looked at homes recently?" On a couple of occasions, the reply has been; "Yes, but our last agent didn't explain anything to us. He just sent us the listings and when we wanted to write an offer, we lost the house by $30,000"

Those buyers were not upset at loosing the house..... they WERE upset at getting 'blown out of the water' with no guidance or assistance from their real estate agent.

And so the reason for the headline of this post: "FINDING a house or condo is EASY". It really is. Here is what you do: Pick up the phone or send an e-mail to any one of the 1400+ REALTORS® in Winnipeg. Most will be only to happy to set you up on an automated search thru the new Keystone MATRIX® search system (an excellent system, by the way... check out this video)

After setting up the search, you'll be receiving listings by the dozens, maybe even by the hundreds. Then, when you find a house you like, you can call or e-mail that REALTOR® and go see the house and then even write an offer on it. This is where the problem occurs. Are you truly prepared for the bidding process? Have you been pre-approved by the RIGHT lender? Are your funds still tied up in RRSP's and will it take a couple of weeks to free them up? What's the house of your choice really worth? Can you trust the agent (whom you've never met until the day of the offer)? How much are your "Closing Costs"......

These questions just scratch the surface of what is required to actually GET the house or condo of your choice. So, FINDING it is easy....... GETTING it requires a little prep-work. That's why I start out with a meeting in our office, where we can make certain that you are prepared and ready.

If you're serious about buying a house or condo, call me anytime. Let's get started...

Bo   333-2202

Hi everyone:This has happened to me on a couple of occasions:  I meet with a new buyer for the first time, and we start to go over the buying process.  In this meeting, I explain what the market is doing, how best to write an offer, and generally discuss and describe the entire buying process.On more than one occasion, the buyer exclaimed:"We never knew THAT!".....  or, better yet: "Our LAST agent never explained THAT."In speaking to them further, I learn that they had been receiving listings from another agent, gone out to look at a few houses, tried to put in an offer and were promptly 'blown out of the water' by other, better prepared buyers.  So here is my point : FINDING a house or condo is the easy part.  The listings are out there, on MLS®, in magazines and newspapers and on the internet.  But FINDING is only a small part of what I do....  the key is in the PREPARATION.  To be blunt: We're not buying a pair of pants, a book or a loaf of bread.  We ARE about to invest hundreds of thousands of dollars into the real estate market, and we're doing it at a time when there is heavy competition for the same house we want to buy.  Being PREPARED is key to winning these multiple-bid situation.I have created a "Home-Buying Brochure" which helps my house and condo buyers understand the process.  A PDF version of this brochure is attached here for your information.  I do hope you find it helpful.  If you have any real estate related questions or comments, please call me anytime.  And of course, if you're looking to buy a house or condo, I'd love to help you FIND and GET the home of your choice.Click here to download your Free Guide:                          Bo's Home-Buying Guide

Hi Everyone:

There is an old saying that goes: "Your home is never more exciting than the first couple of weeks on the market". So when you put your home on the market (and I mean the REAL MARKET, by LISTING IT with a REALTOR®), make sure that your home shows it's best.
Because here is a bit of reality: About 80% of your total showings are going to happen in the first 5 days...... This is very important to remember.
When you put your house on the market, there are any number of potential buyers who have been waiting for YOUR HOME. And they will rush in to see your home in the first few days, checking it out to see if it's worth competing for. If the buyers find fault with your home, they simply move on to the next one and MAY NEVER RETURN.
So it's very important to have your home as 'show-worthy' as possible. Here are a couple of simple tips to get you started:

1) CLEAN CLEAN CLEAN
Counters, bathrooms, carpets, lights, windows. Kitchen cupboards, sinks and the garage. Clean everything. Don't leave buyers with a bad impression.

2) DECLUTTER
Kitchen counters should be empty, except for perhaps those Tea-Sugar-Flour-Coffee canisters. Less furniture is better than too much. Box up everything you don't need. You could designate a room in the basement as the 'junk room' and move extra stuff into there.

3) PAINT
If there are any areas where the paint is fading or flaking, paint it. Stay away from the wild colors and stick to earthy, neutral tones. That "Bright Red" kitchen wall looks funky in a magazine, but is not everyone's cup of tea.

These are just a few things to get you started. If you're looking to sell your house or your condo, call me for more advice and to show you my marketing presentation.

Bo 333-2202

Hello Everyone:

Do you own rental property, and feel that now is the right time to sell? You may be right, as property values have far outstripped our Province's controlled rent increases. As your rental income has increased by 2% to 3% each year, the value of the property may have incresed by around 10-15% a year.

Case and point: I recently listed a nice little house on Winnipeg Ave.

When I first saw this property, which had a tenant in it, the value would have been somewhere around $50,000, sold "AS-IS". The owners heeded my advice, gave the tenants their notice, cleaned and fixed the home up, and listed it for $89,900. In the end, it received multiple offers and sold for even more than that.

2nd case and point: I have a buyer for a condo in Lindenwoods. We were trying to get a look at this condo, which is tenant-occupied by a 'non-co-operative' (read: JERK) tenant, who keeps the place messy, and disrupts showings. This is not uncommon, as tenants quite often don't like the idea of 'their place' being sold, forcing them to find alternative accomodations. And so a condo, which should have sold quickly, has been on the market for 2-1/2 months, causing he owner grief and possible loss of money.

If you own property, and wish to sell it, call me first. Here is a short video on WHY it is in your best interest to sell the home WITHOUT the tenant in it.