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.