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.

Photo by ryemang's photostream on Flickr

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:

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

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

When selling your house or condo in Winnipeg, you have about 1400 real estate agents to choose from. While it is a very good thing to have a ‘Choice’, the homeowner should take a close look at the only thing that separates and differentiates the agents from one another: Their Marketing Plan. What does the agent DO to advertise and market your property?

All REASLTORS® in and around Winnipeg use the MLS®. A very powerful tool to help sell your Winnipeg house or condo! But since ALL agents use it, this tool alone does not help differentiate between the agents. So the home seller should ask “What ELSE do you do to sell my house?”

Select a REALTOR® for the marketing plan he or she presents.

If you’re getting ready to sell your Winnipeg house or condo, please call me anytime for a free Market Evaluation and presentation of my Marketing Plan.

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 Real Estate 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!  See the video!

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

Extensive Marketing Plan for your Winnipeg house or condo

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:

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 Winnipeg neighbourhood, a factor which helped on of my recent listings sell for significantly over the asking-price. For a look at the overall market report, go to Winnipeg Market Report for September 2010 video.

Currently, in the south St Vital area, there are only 14 condominiums 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.  June was considered a very busy month for real estate in Winnipeg.

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

While ‘multiple 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®.  As well, a slow down in the market activity is to be expected in the summer months, as condo buyers take vacations, just as house buyers tend to do.  I would expect the market to pick up once again, after the September long weekend.

If you’re looking to sell your condo, in St. Vital or other areas of Winnipeg, please call me anytime for a realistic and complimentary 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:

I’m happy to report that my listing at 201 Horton Ave W in Transcona has sold.  This was a wonderfully updated and cared-for home.  Thank you to all agents who showed it, and a big congratulations to the lucky buyer who purchased this home.

If you’re thinking of buying or selling a house, or a condo, please call me anytime…..  Bo  333-2202

Hi everyone:

My buyer just bought this lovely side-by-side home at 1035 Buchanan Blvd.

If you’re looking to buy (or sell) a home in Winnipeg, please call me anytime, I love to help!  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.