Spotlight on The Mosaic at 40 & 60 Shore St. Winnipeg

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Near Bison Dr and Pembina Hwy, we find The Mosaic I & II, at 40 Shore St and 60 Shore St. Winnipeg, respectively.

Year Built:  ca. 2009

Total Condos:

The Mosaic Condominiums were built in 2 phases. Phase I is located at 40 Shore St and features 40 units in a 6-story building, while the larger Phase II, attach via the indoor, ground level parkade, is made up of 78 units in a 7-story building.  Both are concrete structures, and units vary in size from a small, 1 BR, 1 Bath unit of 725 sq feet, to the largest, 2 BR, 2 Bath units of approximately 1100 sq feet.

Condo Restrictions:

Just the usual condo-restrictions, such as “No Laundry to be hung from the balcony” etc.  Owners or their tenants must abide by the usual condo bylaws.

Property Taxes

Gross Property Taxes vary from approximately $1900 for the smallest unit, to approx. $2800 for the largest.  As always, owner-occupants do qualify for the Provincial Tax Assistance, just as house-owners do.

Condo Fees

Condo fees vary from $180 per month (smallest condo), to approx. $260 per month for the larger units, which includes snow removal, property maintenance and management fees and water.  Owners pay for their own hydro (heat) as well as cablevision and telephone.

Laundry, Parking and A/C

All units have their own insuite laundry.  MOST units have an indoor (heated) parking spot, although a few have an outdoor spot with plugin.  These units feature central heating (furnace is in the ceiling of the laundry room) as well as central air conditioning.

Amenities at The Mosaic

Fitness Room

Party Room

This Condo project features a very nice fitness room, as well as a ‘Party Room”.  What I consider a bonus, this condo’s management company is located right inside the building (at least it was at the time of this report in Jan 2012).  This means that owners have easy access to the management company in case of problems.  Another nice feature is the security in the building.  Owners control entry to the building via their telephone, and yes, cell-phones can be used so long as the owners cell phone is a local number.

Location

Located right at Bison Dr and Pembina Hwy, at 40 & 60 Shore St, this condo is close to all bus-routes, the University of Manitoba, the new Stadium and major shopping centres.

Prices

During the 2 yr period of 2010-2011, condos at The Mosaic have sold for between $190,000 and $285,000, depending on size and location within the building.  (MLS® stats)

If you’re in the market to buy a condo, whether at The Mosaic or anywhere else, please click on Condo Finder Form.  If you’re thinking of selling your condo, anywhere in the city, please go to my Free Market Evaluation Form.

Related articles

• Featured Condo: Chimney Ridge Condominiums 3040 to 3080 Pembina Hwy. Winnipeg (bokauffmann.com)
• Featured Condo: Oak Ridge Pointe Condominiums at 697 St. Anne’s Rd. Winnipeg (bokauffmann.com)
• Featured Condo: Fountain House 300 Roslyn Rd. Winnipeg (bokauffmann.com)
• Can Condo Sellers keep their portion of the Reserve Fund? (bokauffmann.com)

Technorati Tags: condo, condo for sale, condominium, Condominiums, luxury condos, University of Manitoba, winnipeg, Winnipeg Real Estate Market Update

Condo Spotlight: Chimney Ridge Condominiums at 3040-3080 Pembina Hwy, Winnipeg

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Located on the east side of the street, from 3040 to 3080 Pembina Hwy. we find the Chimney Ridge Condos.

Year Built:  ca. 1977

Total Condos:

Chimney Ridge Condominiums are made up of 98 condos in 5 separate buildings.  There are 2 distinct styles of units, each 1100 sq ft in size.  One type is the main floor, one-level unit, and the other type is a two-story unit which is actually located ABOVE the main floor condos.  This second type of condo requires the owner to walk up one flight of stairs to get to the living-room/dining-room/kitchen space, and then walk up a 2nd flight of stairs to get to the 2 bedrooms and bathroom.

Condo Restrictions:

Just the usual condo-restrictions, such as “No Laundry to be hung from the balcony” etc.  Pets are allowed, so long as they don’t pose a nuisance to other owners.

Property Taxes

Gross Property Taxes are currently at approx. $1920.00 per unit.  Of course, as an owner who actually lives in their unit, you would qualify for the Provincial Home Owners Assistance Rebate, similar to when you own a house.

Condo Fees

Condo fees are $155 per month, which includes snow removal, property maintenance and management fees.  Owners pay for their own hydro, telephone, and water bills.

Laundry and Parking

All units have their own insuite laundry, and units have one parking spot included.  At this time (Jan 2012) no additional parking spots were available for rent, although a neighbouring condo complex WAS renting out a few stalls to owners of Chimney Ridge Condominiums.

Amenities of Chimney Ridge Condominiums

This condominium is a bare-bones condo.  No pool, fitness room or other amenities, which helps to keep the condo fees nice and low.  Of special note is the fact that the main floor units feature a small yard, while the upper condos have a balcony.  All units have central furnace and c/air conditioners.

Location

Located right on a bus route of Pembina Hwy, and just south of the University of Manitoba, this condo complex has become very popular with students and property investors who are looking to purchase the units and rent them out.

Prices

During the 2 yr period of 2010-2011, condos at Chimney Ridge have sold for between $170,000 and $190,000  (MLS® stats)

If you’re in the market to buy a condo, whether at Chimney Ridge Condominiums or anywhere else, please click on Condo Finder Form.  If you’re thinking of selling your condo, anywhere in the city, please go to my Free Market Evaluation Form.

Related articles

• Selling or buying a Condo? Here is a Guide! (bokauffmann.com)
• Featured Condo: Oak Ridge Pointe Condominiums at 697 St. Anne’s Rd. Winnipeg (bokauffmann.com)
• Can Condo Sellers keep their portion of the Reserve Fund? (bokauffmann.com)
• Featured Condo: Fountain House 300 Roslyn Rd. Winnipeg (bokauffmann.com)

Technorati Tags: buying rental property, condominium, Condominiums, winnipeg

Condo Spotlight: Oak Ridge Pointe Condos at 697 St. Anne’s Rd, Winnipeg

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Located on the east side of St. Anne’s Rd, and backing onto the Seine River, just south of  Novavista Dr, we find Oak Ridge Pointe Condos, a 50+ condominium with some spectacular features.

Year Built:  1994

Total Condos:

Oak Ridge Pointe Condos are a total of 36 equally sized (within 50 sq ft) units, on 3 floors.  All units are extremely spacious, at approx. 1550 sq feet, and feature 2 large bedrooms, a den, 2 full baths and fully enclosed balcony/sunrooms.

Condo Restrictions:

Strictly enforced 50+ age restriction, and NO PETS rules.  As well, units must be owner occupied, as NO RENTING OUT is permitted at this time.

Property Taxes

Gross Property Taxes are currently at approx. $2850.00 per unit, plus or minus approx. $30.00

Condo Fees

Condo fees range from approx.$390 per month.  While this may seem steep, condo fees in this building include Heat, Water, Cablevision, Management Fees and the usual condo maintenance fees and contributions to the reserve fund.

Laundry and Parking

All units have their own insuite laundry, in a very spacious laundry room with enough space to have plenty of storage.  Each unit owns an underground parking spot, and extra parking is available at a nominal fee.

Amenities of Oak Ridge Pointe

This condominium is located on the banks of the Seine River, and features gorgeous grassy grounds, with plenty of room to sit, relax, have a barbeque and other activities.  Inside the building, you will find a large common-room in the basement, a small woodwork shop and extra storage rooms for each owner.

Location

Located approx. 300 feet from St Anne’s Rd, it is close enough to walk to the bus route, but far from the noise of the road.  Grocery and all types of shopping nearby.

Prices

During the 2 yr period of 2010-2011, condos in this building have sold for between $240,000 and $273,900, depending on location within the building.  (MLS® stats)

If you’re in the market to buy a condo, whether at Oak Ridge Pointe or anywhere else, please click on Condo Finder Form.  If you’re thinking of selling your condo, anywhere in the city, please go to my Free Market Evaluation Form.

Related articles

• Featured Condo: Fountain House 300 Roslyn Rd. Winnipeg (bokauffmann.com)
• Can Condo Sellers keep their portion of the Reserve Fund? (bokauffmann.com)
• Selling or buying a Condo? Here is a Guide! (bokauffmann.com)
• Buying an investment Condo? Top 4 things to look for (bokauffmann.com)

Technorati Tags: 55+ condos, condo, condominium, Condominiums, luxury condos, winnipeg

Spotlight on: Featured Condominiums in Winnipeg

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Winnipeg has hundreds of condominium corporations, all unique in their own way.  We have townhouse style condos, apartment condos, bungalow and 2-storey condos (both attached and de-tached) and all of them have different features, amenities, sizes, prices and bylaws.

Starting in December 2011, Winnipeg’s Real Estate Blog will feature some of these condos, put a spotlight on a few of them.  Starting with “Fountain House” at 300 Roslyn Rd, a centrally located, 13-storey highrise with magnificent views of the downtown and great location along the Assiniboine River.

Over the next while, I’ll be featuring other condos, from 55+ age-restricted units, to brand-new high-rise buildings.  All of them will be available in a separate category, titled Featured Condo.

Do you live in a condo and would like to see your building featured here?  Drop me a line and tell me what makes your condo unique and special.  I’d love to hear from you.

If you’re in the market to buy a condo, or sell your current unit, call me or e-mail me anytime.

Bo Kauffmann  204-333-2202

Related articles

• Can Condo Sellers keep their portion of the Reserve Fund? (bokauffmann.com)
• What’s wrong with this Condo? (bokauffmann.com)
• Buying an investment Condo? Top 4 things to look for (bokauffmann.com)
• Featured Condo: Fountain House 300 Roslyn Rd. Winnipeg (bokauffmann.com)

Technorati Tags: Bo Kauffmann, condominium, Condominiums, Downtown Winnipeg, luxury condos, real estate, winnipeg

Condo Spotlight:  Fountain House at 300 Roslyn Rd.

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Located in the heart of the Roslyn Road condo village, we find Fountain House at 300 Roslyn Rd.  Here are some of the main facts:

Year Built:  1963

Total Condos:

Fountain House features 180 Condos on 12 floors, ranging from a small, 1 BR of approx. 550 sq ft to the largest, 2 BR at approx. 900 sq ft.

Condo Restrictions:

None, outside of the usual items such as “No Laundry to be hung from your balcony railings”…etc etc

Property Taxes

Taxes range from $1,630 (Gross) for the smallest unit, to $2,300 (Gross) for the larger condominiums

Condo Fees

Condo fees range from approx.$340 per month for the small condos, to $540 per month for the larger ones.  While this may seem steep, condo fees in this building include Heat, Hydro, Water, Cablevision, Management Fees and the usual condo maintenance fees and contributions to the reserve fund.

Laundry and Parking

This building offers shared, coin-op laundry on every floor, with laundry rooms offering 1 washer and 1 dryer.  Laundry rooms are also used for recycle drop off and garbage collection.  As for Parking, there are plenty of spaces available, but unlike other condominiums, the unit owners do NOT own the spots, but rent them from the condo corporation.  As a unit is sold, the new owner starts off with an out-door spot (rented at $24 per month) or perhaps a ‘covered’ spot (at $30 per month) and can go on a waiting list to get an underground spot at $48 per month, all in addition to the condo fees.

Amenities of Fountain House

This building offers two inground, summertime pools.  No workout room or rentable guest suites.  While most of the suites have balconies, some do not.  Of special note is that the building features ‘forced air heating’ as well as each unit has its own ‘centralized air conditioner’, all part of the condo fees.

Location

Located within easy walking distance to Osborne Village, Safeway, Liquor Mart, the Legislature Building and much more.

Prices:

During 2010-2011, condo units in this building have sold for between $130,000 and $170,000 for a 1 BR unit, and between $175,000 and $212,000 for a 2 BR unit.  (MLS® stats)

If you’re in the market to buy a condo, whether at Fountain House or anywhere else, please click on Condo Finder Form.  If you’re thinking of selling your condo, anywhere in the city, please go to my Free Market Evaluation Form.

Related articles

• Buying an investment Condo? Top 4 things to look for (bokauffmann.com)
• Selling or buying a Condo? Here is a Guide! (bokauffmann.com)
• 7 Reasons to buy a Condominium (Infographic) (bokauffmann.com)
• What’s wrong with this Condo? (bokauffmann.com)

Technorati Tags: Fountain House, Osborne Village

Can owners keep their portion of the Condo Reserve Fund?

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This question comes up every now and then. As a condo owner sells his unit, they receive a copy of their Condo Documents, which among other things, clearly shows their portion of the Reserve Fund in the condo corporation. So naturally, they sometimes ask: Do we get to keep that money?

Alternatively, condo buyers will ask:”Do we need to come up with this amount and put it into the Reserve Fund once we take possession of our new condo?

This 3 min. video gives the answer:

http://www.youtube.com/watch?v=nNeLnZSgBbc

If you’re in the market to buy or sell a condo in Winnipeg, call or e-mail me for a free consultation.

Bo Kauffmann  333-2202

What’s wrong with this Condo? – Winnipeg’s Real Estate Blog

Numerous ‘for-sale’ signs in front of a condo projects DO NOT mean there is anything wrong with the units. Facts behind condo sales in Winnipeg.

Publish Date: 09/18/2011 10:53

http://bokauffmann.com/whats-wrong-with-this-condo/

6 Reasons to buy a Condo in Downtown Winnipeg

TweetSharebar Tweet6 reasons to buy a Condo in downtown Winnipeg . Downtown Winnipeg might not be the first place you think of when you are considering buying a condominium but there are some beautiful buildings …

Publish Date: 07/08/2011 9:44

http://bokauffmann.com/6-reasons-to-buy-a-condo-in-downtown-winnipeg/

Technorati Tags: condominium, Condominiums, first time buyer, luxury condos, mls

 General overview to buying a condo in Winnipeg

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When it comes to Condo’s, I do have a bit of knowledge in this field.  In fact, nearly 1/3 of my sales come via condominiums, either in representing the buyer or the seller.
The vast majority of Condo-Corporations are professionally managed:  That is, a management company looks after the day-to-day affairs such as hiring the landscaping people, dealing with repair and maintenance issues, handling the finances and book-keeping etc etc.

One of the major responsibilities of such a Management Company is to make sure that all the necessary documents are provided whenever a current owner wants to sell his/her unit.  In Manitoba, the Condominium Act stipulates the owner’s requirements, which include providing the following to anyone buying a condo:

1) A copy of the Disclosure Certificate

2) A financial statement.

3) A projected Budget statement

4) The Management Agreement

5) A copy of the By-laws

6) A copy of the Declaration

The first on this list, (Disclosure Certificate) is arguably the most important when buying a condo.  It contains approx. 15 sections which outline the financial and legal well-being of the corporation.  Sections include:

• Whether or not the corporation is involved in any legal disputes.
• Whether there are any insurance claims against the Corporation.
• Is the Corporation planning to change or add to any of the amenities and common elements?  For example, are they planning to install a tennis court and pool, potentially raising condo fees?

These are just some of the major points in a Disclosure, and you can see why it is an important document.

When a Corporation is professionally managed, obtaining such a certificate is merely a phone call and around $75.00 cost.  However, in very rare cases, condo corps decide to ‘self-manage’, in which case the elected Board is responsible for providing this document.

Reason for my blog-entry on this:  I’ve recently met with a condo board which has decided to self-manage, and they were not aware of some of these regulations.  This can present problems for both the seller AND the buyer.  For example:  If you are buying a condo, and do not receive the proper documentation, take possession of your new condo and then learn of a $100 per month increase in condo fees, you’re stuck with that increase.  On the other hand, if you’re the seller and you failed to hand over the documents, and a week before possession the buyer changes his mind, he/she will have an easier time walking away from the deal if they did not receive the documents they were entitled to.

So here is a copy of a blank Disclosure Certificate…

Disclosure Certificate

In addition, I also have a copy of a Buyers Guide, which potential condo buyers might find useful.

Condo Buyers Guide

If you’re planing on buying a condo, here is my condo-finder form.  And if you have a condo to sell, call me for a free market evaluation anytime.  Bo Kauffmann  333-2202

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Winnipeg Downtown Condo Living advice and perspective from a …

Winnipeg Downtown Condo living offers a unique opportunity for home owners. Here are some things to look for when shopping for a downtown condominium in Winnipeg.

Publish Date: 11/18/2010 11:30

http://bokauffmann.com/downtown-condo-life-a-new-owners-perspective-and-advice/

Buying a Condo in Winnipeg: What you need to know about financing

If you’re buying a condo in Winnipeg, here are some financial aspects you need to know, including reserve fund, condo fees, start up costs and more.

Publish Date: 02/17/2011 10:49

http://bokauffmann.com/buying-a-condo-in-winnipeg-what-you-need-to-know-and-consider-part-2/

Technorati Tags: condominium, Condominiums, first time buyer, real estate market

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Top 4 things to look for in an Investment Condo

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A friend of mine called me a few weeks ago, and asked me to give him a Market Evaluation on his investment condo.  Turns out he had purchased a small condo about a year ago, and had done so ‘privately’, a decision he now regretted for several reasons.  As we were talking about his investment condo, my mind went over the top features any investor should be looking for when purchasing a condominium.

1) Location, Location, Loc….

You’ve heard this before.  The top three most important things in real estate are….well, you know.  Its no different when purchasing an investment condo, or a condo for your own personal use.  Will it be easy to resell, or does the location hamper your re-sale efforts?  If you’re going to rent it out, is the condo located near public transportation routes?  Is the neighbourhood safe?  Many factors come into play.

2) Parking

Parking, especially in central locations such as downtown, is always at a premium.  Even if you are lucky enough to rent out your investment condo to someone who does not drive their own vehicle, reselling a condo without its own parking spot is more difficult.

3) Balcony

With several apartment-to-condo conversions underway, it’s easy to forget that a balcony is still one of the most important features requested by buyers.  Without a spot to sit outside, perhaps read a book in the fresh air or throw some beef on the ‘que, owners and renters will feel trapped inside their condo.  Make sure your investment condo has a balcony or, if located on the main floor, it has a patio space.

4) In-Suite Laundry

Less important with single men, but almost ‘vital’ to female condo buyers and renters.  Having a secure place to do your own laundry is, at the very least, a ‘nice to have’ feature.

The above 4 features are perhaps the most important ones to consider.  Depending on your price range, you may want to consider several more:

Bonus: Concrete Building

Usually a little more expensive, but well worth the price.  Quieter, more solid and stable, an investment condo with concrete floors and walls will also make for easier resale.

Bonus: Central Air

Central air conditioning and heating is another nice-to-have feature, making the condo more comfortable and easier to rent out.

Bonus: Secure Parking

Especially with our winter climate, having underground or indoor parking is an often-requested feature, albeit at a price premium

Back to my friend:  His private purchase ended up being a very poor deal, as his investment condo had NONE of these features.  Located in a rough part of town, no parking spot, no balcony, no insuite laundry and on the 3rd floor with no elevator will make this a very tough sale, even in a hot market.

Moral of the story: If you’re going to invest some serious money into real estate, call a REALTOR® BEFORE you plunk down the cash.  I would much rather guide you in the right direction, than try to help correct a mistake already made.

If you’re thinking of buying an investment condo, call me first.

Bo at 204-333-2202

6 Reasons to buy a Condo in Downtown Winnipeg

TweetSharebar Tweet6 reasons to buy a Condo in downtown Winnipeg . Downtown Winnipeg might not be the first place you think of when you are considering buying a condominium but there are some beautiful buildings …

Publish Date: 07/08/2011 9:44

http://bokauffmann.com/2011/07/6-reasons-to-buy-a-condo-in-downtown-winnipeg/

What’s wrong with this Condo? – Winnipeg’s Real Estate Blog

Numerous ‘for-sale’ signs in front of a condo projects DO NOT mean there is anything wrong with the units. Facts behind condo sales in Winnipeg.

Publish Date: 09/18/2011 10:53

http://bokauffmann.com/2011/09/whats-wrong-with-this-condo/

Technorati Tags: buying rental property, condominium, Condominiums, Downtown Winnipeg

“Everyone is selling! What’s wrong with this condo project?”

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Have you ever driven by a large Condominium Project and noticed 4 or 5 “For Sale” signs out front?  Did it make you wonder “There MUST be something wrong with these units?

In this video, we take a look at why this may NOT be the case.

If you’re thinking of buying or selling a condo in Winnipeg, make sure you work with a REALTOR® who KNOWS Condos……   BoKnows…

Call me anytime for a free market evaluation, or to schedule a buyer’s interview.  Bo Kauffmann 204-333-2202

Condo Documents every buyer must … – Winnipeg’s Real Estate Blog

Condo Buyers need to receive the Condo Documents upon having their offer accepted. Here is a list of the documents which the condo seller has to provide.

Publish Date: 11/09/2010 16:48

http://bokauffmann.com/2010/11/condo-buyers-in-winnipeg-here-are-the-condo-documents-you-should-be-receiving/

7 Reasons to buy a Condominium … – Winnipeg’s Real Estate Blog

TweetSharebar Tweet7 Reasons to buy a Condominium in Winnipeg (Infographic) In Winnipeg’s continuing hot real estate market, buying a condominium has several advantages, including: 1) Less Bidding Wars While …

Publish Date: 06/29/2011 9:10

http://bokauffmann.com/2011/06/7-reasons-to-buy-a-condominium-in-winnipeg-infographic/

Technorati Tags: condo for sale, condominium, Condominiums, first time buyer, real estate market, winnipeg real estate

What do those abbreviations on the Keystone Matrix® real estate listings mean?

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Photo by Feathered Tar on Flickr Photostream

If you’re working with a REALTOR® in the search of a new home, most likely you are receiving MLS® real estate listings via the new Keystone Matrix® system.  My buyers are always asking me to explain what some of the abbreviations on these listings stand for, so I thought I might create this post to help everyone out.  Generally from the top of the listing sheet on down, here are the main ones:

Real Estate Listings Abbreviations

DOM:  Days On Market  reflects how many days since the home has been listed by the agent

TYPE:  RD, SA, TH of MH  means Residential Detached (Stand-Alone), or Single Attached (Side by Side), Townhouse or Mobile Home

TAX AMOUNT:  This is supposed to be the TOTAL GROSS taxes, including all Education Taxes, Local Improvements etc.  As an owner-occupant, you would qualify for a $700 Provincial Rebate

RMA:  Means Rooms Above Ground level

BDA: Bedrooms Above Ground

TBD: Total Bedrooms (including basement bedrooms)

FB: Full Bathrooms  (a “FULL” bathroom has at least 3 pieces, so for example: toilet, sink and shower, or toilet, sink and tub)

HB: Half Bathrooms  (a half bath might have only 1 piece, such as a toilet, or just a sink, but most often has 2 pieces)

EN: Ensuite, which refers to a bathroom that is accessible from a bedroom directly

S/S: Showings Start date.  NO showings can occur BEFORE that date

OTP: Offer To Purchase date.  That the is  FIRST date when offers can be  considered.

In addition to the above real estate listings abbreviations, you may also come across some of the following terms, to be found in a variety of printed newspapers and magazines:

A/C or C/Air:  Central Air Conditioning

APPL:  Appliances

ATT or DT: Attached or Detached

CLG: Ceiling

C/Vac: Central Vacuum

CC: Clothes Closet  or possibly “WICC”  as in Walk-In Clothes Closet

AT/2 or DT/2:  Attached double or detached double (as in garage)

EE and HE:  Energy Efficient and High Efficient

F/Fin:  Fully Finished

HWFS and HWDS:  Hardwood floors and simply Hardwoods

WDW:  Windows

WDWK: Woodwork (as referring to baseboards and window casings)

 

Confused our stumped by other real estate listings abbreviations?  Ask me in the comments, or email me anytime

Bo Kauffmann of Remax performance realty.

Other Real Estate Information

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House foundations can shift, settle or crack any time, but often the cause is changes in soil moisture levels. Water foundations during dry seasons.

Publish Date: 08/24/2011 10:20

http://bokauffmann.com/2011/08/shifting-and-cracking-foundations-some-preventative-maintenance/

Basement bedrooms in Winnipeg: Minimum size requirements

Code requirements for basement bedroom windows in Winnipeg. Minimum sizes to protect occupants. How to increase basement window to meet code standards.

Publish Date: 08/30/2011 10:00

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Technorati Tags: buying a house, real estate, real estate agent, winnipeg, winnipeg real estate, Winnipeg Real Estate Market Update