condominium

Mortgage Interest Rate Outlook for Canada

by Bo on September 4, 2010

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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



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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.24 Nova Vista condo 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

Bo Kauffmann of Remax Performance Realty is the recipient of the 2009 Silver Medallion Award from Winnipeg REALTORS®, the Platinum Club Award from Remax, and is one of Winnipeg's top-producing Real Estate Agents.  Check out his website at WinnipegHomeFinder, follow him on Twitter or email him at boknowshomes@gmail.com
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Thinking of Selling your home?  Lots of agents offer the so-called "Free Internet Evaluation", which is worth about as much as people pay for it: Nothing.  In order to set a realistic 'Asking Price', a qualified REALTOR® (or Appraiser) will have to come to your home for an actual inspection.  So if you're thinking of selling your house or condo.... simply fill out this form and I will contact you.
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Market Update for house sales and listings in Lindenwoods, Winnipeg

August 22, 2010 Blog

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, [...]

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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 [...]

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276 Condominiums available in Winnipeg

May 21, 2010 Blog

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 [...]

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18 Condos in South End for First Time Buyers

April 16, 2010 Blog

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 [...]

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Condo By-Laws: Striking a Balance!

April 11, 2010 Blog

Hi Everyone: This blog-post is actually addressed to anyone serving on a condo-board, or in a position to influence by-laws and rules of their condo, but condo buyers and sellers might find this interesting as well.  I would like to talk about the by-laws, and the importance of striking a ‘balance’ between functionality and adversely [...]

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