Bo Knows Real Estate

Should Buyers get a home inspection?How do Sellers choose a real estate agent?What are 3 things to check at possession time?These and more tips , plus current mortgage rates, in this episode.

If you're a homeowner of an older home, you probably had to deal with plugged sewer lines already,At some point, simply cleaning the line out will no longer suffice, and home owners need to consider replacing the underground line from their home to the city sewers.Now there is a new, cheaper method instead of replacing the underground line.It's called 'relining' and Underground Expert Jake Silvestri of Mr Rooter explains how it works, why its better and how much you can save.

Winnipeg Real Estate Market Update for September 2022Housing listing and sales stats. Houses, condos. MLS dateIs now a good time to buy, or to sell?

3 Real Estate Fact #1[00:00:00] Host Ryan Peterson: Get ready for three interesting real estate facts you should know coming up in this episode of Winnipeg's real estate podcast. Cue the music[00:00:11] Bo Kauffmann - REALTOR: you're listening to the bone knows real estate podcast tips and advice for home buyers, sellers, and owners with award winning Remax agent Bo Kaufman.[00:00:26] Host Ryan Peterson: Hello, I'm your host, Ryan Peterson. Welcome to another episode of Winnipeg's real estate podcast with my friend and real estate expert, Bo Kauffmann of Remax Performance Realty[00:00:35] Bo Kauffmann - REALTOR: Hey Ryan thanks for the great intro and anybody who's listening to this will notice right away that there's a bit of a change in the format here.Ryan and I did a series of episodes a few years ago that were called a real estate round table. And what I always liked about him was the little back and forth and two different voices talking. So I wanna recreate that here and I thank you, Ryan, for agreeing to do this with me.[00:01:04] Host Ryan Peterson: My pleasure. It's great to be back Bo. All right. So let's get right into it with three different facts about real. Okay,You must hear this first question a lot from home buyers. When my possession data is coming up, how do I get the keys and get into my new home[00:01:09] Bo Kauffmann - REALTOR: All right. So it really depends on where you are.I hear that a lot of places in the states and different provinces and the real estate agent actually has the key and meets you at your door, but here in Manitoba, it's all done through the lawyers. So here's what happens is about a week before you possession date, you the. Meet with your lawyer, you sign a bunch of papers.You give him a suitcase full of money that he's gonna tell you, just how much to bring and you sign the papers and then you just sit back and wait. At the same time, the seller meets with their lawyer signs, papers, and gives him the keys. And then the day before possession. The lawyers talk to each other and exchange those two items.The buyer's lawyer sends the money. The seller's lawyer sends the key. You get another phone call and the day before possession, you show up at your lawyers and he'll give you the key and with strict instructions not to go into the house. Until right at the time that stated on the offer. I remember,[00:02:01] Host Ryan Peterson: Getting my first home in 2000 and yeah, it was a plain Manila envelope that I got the key in.And honestly I was expecting a little bit more fanfare, what are you gonna do? You're still excited about the new home now. Bo is the date usually hard and fast or is there some flexibility, say a buyer wants to swing by and get some measurements to make sure that the furniture is gonna fit certain way.[00:02:20] Bo Kauffmann - REALTOR: Okay. That's a really good question. Answer that question. The date is hard and fast. Now, if it's important to you to take some measurements or to go in for one more, look, make sure that you're a real estate agent. That's the buyer's real estate agent writes that into the offer because the seller does not have to let you back in until let's say it's nine o'clock and not Tuesday morning when you're taking possession, you don't have the right to go back in there.If you, some people want to do not only measurements, but they also might wanna get a contractor to go through. They might wanna be ready to do a new kitchen, make sure you write that into the offer. And that way the seller when they agree to it, have to let you in.[00:02:55] Host Ryan Peterson: worst they can say is no.That's right. And it's not one of those things that's gonna make or break a deal or make you lose out on a house, right? Nope. That's right. Okay. Great now. Okay. Let's look at the other side of the equation. Do home sellers get their money right away when the keys are handed over?[00:03:08] Bo Kauffmann -...

Get the latest real estate market stats, sales and listings of houses and condos in Winnipeg in the beginning of August 2022.Is this a home buyers market, or a home sellers market?Listen and find out whether now is a great time to buy or sell your house or condo in Winnipeg.

Real estate listings, stats and sales for Winnipeg on July 1st 2022.

Fed Budget Discussions [00:00:00] Bo Kauffmann - REALTOR: Let's separate fact from fiction about the upcoming federal budget proposal. That's coming up next to Winnipeg's real estate podcast. [00:00:26] Hello, everybody I'm Bo Kauffmann Remax performance Realty with another episode of Winnipeg's real estate podcast. You know, the real estate market is super hot, so naturally everybody thinks that that's a good thing for all real estate agents. And it's just a wonderful thing. Well, it's not a great thing because it's, so one-sided the only one who really benefits is anybody who wants to sell their house and not buy another one. [00:00:48] So if you're retiring and we're gonna move into an apartment, this is a great time for you. But for buyers and especially first time buyers, it's not a great time. Houses are selling for not only 60, 80, a hundred thousand dollars above asking, but they're selling for 80,000, a hundred thousand dollars over what they would have sold last year. [00:01:07] So if you're a first time buyer you're struggling, it's a, it's a tough time to get into the housing market. So naturally the federal government is going to step in and fix this issue for us with some of their proposals. So I had a friend call me last week and say, Hey, I heard that the blind bidding is coming to an end, the federal government's going to outlaw it. [00:01:25] And I had to kind of look it up and see what they were talking about. And it's part of their proposed budget is that they are looking for a way. To make this whole process of house purchasing more fair. So let's take a second here and talk to somebody who knows a lot more about this, somebody who is in the financial game, and that is Mike Schroeder of mortgage architects. [00:01:50] Let's give him a call. [00:01:55] Mike Schroeder - Mortgage Architects: Good morning. Hey Mike, how are you doing it's Bo Mike Schroeder - Mortgage Architects: Excellent. Bo Kauffmann - REALTOR: I thought I thought today we'd talk about the proposed budget. Because about a week ago, a relative of mine called me and said, Hey, have you heard that blind bidding and sealed bids are a way of the past are going away? And I'm saying. No, actually, I haven't heard that's so I had to look into it and that's one of the proposals that the government, the federal government would like to do away with, uh, to put it in perspective and to put some history behind it is when you put your house up for sale right now in most provinces, you can put it up for sale and then buyers enter bids that are private and sealed and only the seller gets to open them. Well, what, what can happen is somebody, the winning bidder can overshoot all the other bids by quite a bit great for the seller. Um, but you know, the federal government says, Hey, we don't like this. So they, you know, Talked about maybe finding a way to put an end to it. [00:02:57] The problem is these real estate laws are set provincially in the federal government has very little authority. They can try and work with the provinces on this stuff. Uh, but so far from what I've heard, the provinces had told the federal government to go pound sand So, um, I know there's a lot of rumors out there. [00:03:15] There's a lot of, uh, things that we might be doing, but it's not even voted on yet. So, Mike, what have you heard and what do you take away from this proposed budget? Well, let's start [00:03:25] Mike Schroeder - Mortgage Architects: with, what's actually been talked about details. So the first one is actually a proposal. I like it's called the tax-free first home savings account. [00:03:35] So most people are familiar with the fact that you put money into your RRSPs. You can take money out of your RRSP's. For the first time home buyer, they catch of course is that you have to put the money back into your RSP for the next 15 years. Okay. Well, most people are also familiar with the tax-free savings account. [00:03:54] You put...

[00:00:00] Bo Kauffmann - Real Estate Agent: Do you have too much stuff in your house? What do you do with it? Today? Would talk temporary storage solutions. That's coming up next to Winnipeg's real estate podcast. [00:00:26] Bo Kauffmann: Hello, everybody Bo Kauffmann from here from Remax performance Realty with another great episode of Winnipeg's real estate podcast.  It's been said that the more room you have, the more stuff you accumulate, I can verify that, but there'll come a time when we all run out of room. My current hobby is scotch and cigars. and luckily that doesn't take a lot of room By the way, we have an upcoming fundraiser, a scotch and cigar sampling right here in Winnipeg on June 18th. That's the father's day weekend, but it's a Saturday.  And it has a twist to it. I know there's lots of scotch and cigar events around, but this one has a bit of a bonus. You actually get to enjoy the cigar because we're holding it inside. Thomas Hinds new sampling lounge, and they're licensed to allow smoking. So tickets are very limited because there's only 46 seats. If you're looking for tickets, give me a shout. They're going fast. June 18. And there was a five o'clock sitting and an eight o'clock sitting.  And the eight o'clock is just about sold out. Maybe you've got a hobby collecting sewing machines, or your collection of old pinball machines are starting to take up too much room. What do you do? Or perhaps you're going to sell your house and you need to just temporarily declutter a need some temporary storage. Whatever your reasons. There are storage solutions that have popped up all over town, ready to serve your storage needs. And today we're going to speak with Claire Coppens business manager of total storage right here in Winnipeg. I'm going to ask her a few questions. Hi, Claire. How are you today? Excellent. [00:01:52] Bo Kauffmann: Okay, let's get right into it. What kind of people are, are your customers who use a storage facility? [00:01:59] Clair Coppens  I would say that the most popular reason people are coming to tool storage, like for a self storage unit are big milestones in their lives, like buying a new home or waiting for a new home to be built. Or oftentimes we have see like death of a loved one.  And they're trying to find space to put those belongings for a shorter or long time. [00:02:17] Bo Kauffmann: Right. Okay. Yeah, certainly I can get behind the idea of using storage to put your extra stuff, especially if you're downsizing or even up-sizing like your, you want to store it until you find a new home and then decide what you want to do with about you've been around for 10 years, you're telling me, but what do people look for when they want to select a self storage facility? [00:02:36] Claire Coppens - Business Manager: So I would say that the first thing to look for, if you're going to see a unit is if the facility is clean, like, are the hallway swept, are the units dusted and, you know, Ask other tenants there too. Like if they find the facility clean, the second thing I would say is, do you feel safe there? You know, you're putting a lot of your, your special items there. Is there a gate? What's the security like, is there cameras, do you need a code? What kind of locks are they asking you to put on the unit? And then third, it's just, do you feel welcomed there? Right. Do you feel like the staff cares that you and your items are there and you're not just a customer of theirs, you know, are they going to go the extra mile to make sure that your belongings are safe and well taken care of while you can't take care of them? [00:03:16] Bo Kauffmann - Real Estate Agent: Okay. So a question came to mind is do people have access to their stuff 24 7? Or are you just open during certain business hours? [00:03:23] Claire Coppens - Business Manager: Once you've rented a unit at 12 strategy, you have 24 hour access that's included in your rent and you can come...

What are Cash-Back Mortgages? Whats the catch, and how do they help? Interview with Mike Schroeder of Mortgage Architects

Market stats for house and condo listings in April 2022 for Winnipeg.

Home Buyer Tips & Etiquette [00:00:00] BoKauffmann-REALTOR: Let's talk about tips and home buying etiquette. On this episode of Winnipeg's real estate podcast, All right. Welcome to this episode of Winnipeg's real estate podcast. Today, we're going to talk about some tips and etiquette for home buyers to follow. What do I mean by that? So you're looking at houses and likely on a Saturday afternoon, let's say you're going to go out and look at four or five houses back to back with your agent. We call that a home viewing tour. And today we're going to talk about tips to make that, that whole tour go a little smoother, a little less troublesome just make the whole experience a little bit better for you. But also some etiquette and some rules to follow. Because as a buyer in this hot sellers market, you want to stand out for the great offer you make, not for the rules. Your break sounds like a song in there. So let's we're going to break this episode down into three different sections. The first one is going to be what to bring and where during these home showings, second one is going to be what not to bring what not to do. And the third one is how to act in sponsor inside the house. So let's go. All right. So remember it says, like, let's say a Saturday afternoon, you gotta look at four or five houses in a row. And this first tip is really helpful in the winter wear comfortable shoes you can slip on and off. If you've got these big mukluks that tie up halfway to your knee, you'll spend a lot of time taking them off and putting them back on from going from one showing to the next. So we're comfortable. Slip-on shoes next, bring a pen and pad. Now each listing will probably have a listing sheet waiting for you so you can grab that, but there's always going to be questions or things that aren't on there that you might want to mark down for yourself. If you're looking at five houses in a row, it's easy to get them. You know, you end up forgetting which one needed the new bathroom upgrader, which one had the really ugly floor here or there. So it's good to mark that down. So bring your own pants. And last bring a mask and sanitizer. Yes. COVID is still a thing. I remember you going into other people's houses. So we are still expected to wear masks because people live there and there's showings after us. So once inside you're going to be touching the fridge. You're going to be touching doorknobs, closets, stuff like that. Plus there was people there before us, so you might want to sanitize going in and coming out up next. We're going to talk about what. We'll be right back after this short announcement. This episode of Winnipeg's real estate podcast is sponsored by urban top code, paint and design. Bring in quality fine finishes to your home. Whether you're planning to sell, have just settled in or looking for a robust color refresh urban top code, paint and design has your home covered. There's quality in their hands and they leave it in their work call. Rob white today at 2 0 4 7 9 1 8 0 2 4. All right. So let's start with some of the things that not to do. Leave the food and the and the drinks in the car. Let's say you picked up a cup of coffee on the way to your showings or a sandwich or a banner, a hoagie. Leave those in the car. Don't bring food into somebody else's house. As I can hear the eyeballs rolling. Oh my God. Bowl where you're telling us that it's because it's been done and then coffee gets spilled and it, it's not, it's not a good thing. Next is keep the the viewing group. Now if you're a young couple chances are you want your parents' approval, maybe they're even putting money in for the down payment. They're definitely want, want to have a look at the house. And I encourage that. In fact, if we're looking at 20 houses, I would encourage that you bring all decision-makers to as many of their showings as possible. Because the last thing we want to do is get into a situation where we looked at 20....

Documents needed for Home Buyer Pre-Approval [00:00:00] Bo Kauffmann - REALTOR: In any hot real estate market buyers know they need to get pre-approved before even looking at homes. So how do we streamline that process? That's coming up next on Winnipeg's real estate podcast. [00:00:13] Mike Schroeder - Mortgage Architects: You're listening to the bone knows real estate podcast tips and advice for home buyers, sellers, and owners with award winning Remax agent Beau Kaufman. [00:00:28] Bo Kauffmann - REALTOR: Hello, everybody bought Kaufman here, Remax performance Realty. And today we're talking about pre-approval. Now that's been around for awhile buyers. These days know that they need to get pre-approved by the way, pre-approval is different than pre-qualification. When a buyer goes up to a bank teller and says, Hey, I make 60 grand a year. How much of a mortgage can I afford? Can you plug those numbers in? And the teller gives them. That's pre qualification. That's not what we're looking for. We need something a lot deeper than that. We need something where they do a bit of a dive into your financial abilities to financial history, your credit rating. And that's called a pre-approval. Now, depending on who you're dealing with or pre-approval. Take just a few hours or it could take days. A lot of times it depends on the financial institution you're dealing with, but it can also be helped. Like the process can be sped up by you, the buyer being ready for the questions they're going to answer, because no matter where you go, they're going to need a number of documents from you. And today we're going to talk to my good buddy Mike Schroeder of mortgage architects. And he's going to give us a list of documents that you, the buyer have to have. So you, you may as well spend the time to dig them out, have them ready and really impressed the hell out of them when they ask for those documents and you say, Hey, I've got everything ready in a file here for you. I'll email it to you. A lot of times that pre-approval process can be cut down to a mere hours. So here we are, help me in welcoming Mike Schroeder to the show. All right, Mike, welcome back to the show. [00:01:53] Mike Schroeder - Mortgage Architects: Good morning, Bob, how are you doing today? [00:01:55] Bo Kauffmann - REALTOR: Excellent. Excellent. How are you? Are you [00:01:57] Mike Schroeder - Mortgage Architects: busy? Oh man. This has been great. All everyone's buying and selling homes you say? So it's been [00:02:02] Bo Kauffmann - REALTOR: crazy. Okay. All right. So we're talking about what a buyer can do to kind of shorten that whole pre-approval process and they can, as quick as possible some of the documents that they need, that your you and other lenders are likely going to ask them for. So let's start with that. What, what do buyers need to provide to get pre. [00:02:21] Mike Schroeder - Mortgage Architects: Sure. So we can break the documents down to three different categories. We have to show how much money you make. So your income, we have to cover your down payment and we have to go over your credit. So let's start at the beginning of that first question of course would be, would be, are you employed or are you self employed? If you're employed at the company that really, we need the last pace. Have you received your last two years of G4S? If you've been the employer that long, that will give us a good establishment on Granger. Don't forget if you're receiving the Canadian child benefits that many lenders will also accept that as a valid thing. Now, if you're self-employed, we need to get your last two years and they've been tax returns. One of the easiest way of getting those tax returns is to contact your accountant because they have them all filed away for you. So you really should have both either of those items ready to go when you're ready to get them. [00:03:14] Bo Kauffmann - REALTOR: Okay, quick question for you. I've heard people...

Hiring a Mover in Winnipeg [00:00:00] Bo Kauffmann - REALTOR: Spring market is here. And as with every spring home sales are increasing. So more people are buying and selling, which means more people are going to end up moving. Do you do it yourself or do you hire a mover? So coming up next is an interview with a friend of mine who runs total moving in Winnipeg. [00:00:16] Bo Kauffmann - REALTOR: And we're going to get some tips on how to find, hire, and select a great. [00:00:20] Bo Kauffmann - REALTOR: Uh, you're listening to the bone knows real estate podcast tips and advice for home buyers, sellers, and owners with award winning Remax agent Beau Kaufman. [00:00:41] Bo Kauffmann - REALTOR: All right today, we're going to be talking about moving, hiring a mover or doing it yourself. The moving industry I have found is one of those really unregulated industry, anybody with a pickup truck and call themselves a mover. It's like a home inspection, a service, anybody with a flashlight. Can call themselves a home inspector. [00:00:57] Bo Kauffmann - REALTOR: So how do you weed through that? I can tell you a quick little story. When I was a police officer, I was sitting in the station and somebody came in and report that they had a whole bunch of stuff go missing from their moving company. It is, it is kind of a wild west out there as far as moving goes. So if you are going to hire a mover, make sure your hire a good one. [00:01:18] Bo Kauffmann - REALTOR: And today we're going to be talking with a good friend of mine who runs total moving, which is fairly new here in Winnipeg. And we're going to talk to him next. His name is Colby kiss. All right. So I'm here with my friend Colby kiss from told will moving Winnipeg, uh, Colby. Let's get right into it and ask you if. [00:01:37] Bo Kauffmann - REALTOR: There's so many movers out there. I mean, anybody with a pickup truck and call themselves a mover, it seems to me it's like a somewhat loosely regulated industry. There really is, you know, it's a wild west show out there. How do people find a great mover? What sets a great mover apart from the. [00:01:53] Bo Kauffmann - REALTOR: You know, what's, um, bad. [00:01:55] Colby Kiss - Total Moving: You're absolutely correct. In that sense, you gotta be careful with who you're hiring. Um, some places you might want to look to first would be like BBB, better business bureau. Uh, they only bring credible businesses on with business, better business bureau. Sorry. Um, we're on there. We have a great, great review system through them. [00:02:11] Colby Kiss - Total Moving: The next would be check your Google reviews. That's probably your most important, um, important thing to look into, right? Like if you have a company has all five stars and they've got over. Say even 30 reviews, you're probably looking at a company that is somewhat credible and they can all be fake ones and companies are looking to do that. [00:02:27] Colby Kiss - Total Moving: Right. So it is something companies do, unfortunately. But, um, if they're getting over the 30, 40 mark, they're definitely, they're definitely having customers that are having good experiences with them. So that's massive. And then another one we're hopping into, as soon as we get into, um, two years in business, sorry, is cam the Canadian association of movers, our business mentor and Phillips is in there. [00:02:46] Colby Kiss - Total Moving: And. Set the steps up for us to get right in. We've already been deemed as, uh, as credible. And it's just about. Getting two years in the industry for us right now, so that we can hop into that one to further go into it. I guess like some things you'd want to look into when you're making the calls to the moving company, or you want to make sure that they're friendly, they're willing to help you right off that first phone call. [00:03:06] Colby Kiss - Total Moving: I get lots of calls from customers. From the first phone call, they say, they're...

 It's springtime, and Winnipeg home buyers are facing a very tough sellers market. How can first time buyers get a leg up in this highly competitive environment? Lets talk with mortgage expert, my friend Mike Schroeder of Mortgage Architects…next. Home buyers in Winnipeg are in a very tuff spot. Our spring market is normally very competitive. This is when buyers come out in large numbers, and end up competing on homes and even condos. This year they are facing 2 additional obstacles,: Lack of listings and rising interest rates. Normally at this time , we have around 1200 houses on the market. This morning, we have just over 400. Whats worse, is that over half of them are new listings, and will likely be sold in the next couple of days. Also, the headlines are shouting “Bank of Canada DOUBLES its interest rates”… adding more stress to the daily routines of home buyers. So I thought it was high time that we speak with someone who knows mortgages, knows how to help home buyers and can add some perspective to these issues  Let's say hellow to Mike Schroeder of Mortgage Architects in Winnipeg.

Welcome to Winnipeg's Real Estate Market update for March 2022   Here we are at the beginning of March, and let's take a look at the housing market first, then the condo market. On March 1st, we had a total of 366 houses available for sale. That's up a little from the 306 we had a month ago, but well below 577 on March 1st last year. The main segment of activity continues to be in the 250k to 500k range where we sold 236 during Feb., and only have 157 available on March 1st. The next busiest price range is from 500 to 1 million, with 129 sales during Feb. A lot of listings start out in the 400 K range, but bidding drives their sold price up over 500K. I just worked with a couple who bought their first home. It took 7 attempts to finally have our offer accepted. The home they bought was listed at $320K and they had to bid 95K over that. It's tough to be a buyer right now. Winnipeg's condo market is not spared from this hectic activity. We currently have only 211 condos available, compared to 431 last year and 561 the year before. Sales of 146 units in Feb. is an increase from the previous month, and significantly higher than the 86 sold in Feb. last year. So in summary, Winnipeg continues to be a very strong seller's market, so if you're thinking of selling a house or condo, NOW is the time to call to get ready to sell. Call me anytime for a free market analysis.

Hello Winnipeg, welcome to my 60-second market update Weather is cold, but our real estate market is HOOOOT Check this out! End of Feb, we normally have around 1200 houses for sale. Today that number is 349 Same with condos….normally 5-600 available, but today just 207 If you're thinking of selling your house or condo, take advantage of this market right now. Call me to discuss the best strategy to get the most for your home. If you're a buyer, buckle up…. Multiple offers are pretty much the norm right now. Homes getting 10, 15 or more offers is fairly standard. So why not wait until the inventory scarcity ends? Here is why: Right now it's -40 and most of the buyers are still dormant. Once nice weather arrives, they will wake up and join the hunt for a home…..creating even more demand. If you're serious about buying or selling, a house or a condo in Winnipeg, call me right now Bo Kauffmann, REMAX performance at 204-333-2202

Welcome to the real estate quickie for Feb 2022  First, let's look at the HOUSING market. On Feb 1st we have 306 houses for sale in Winnipeg. Let's put that into context.  Last year, which as you may recall, was a super hot sellers market, but we actually had 481 Houses available, or about 60% MORE than today. And 2 years ago, that number was over 1100….nearly 4 times what it is right now. What are the real world effects of this type of market? House went up for sale in St James last week, at 370K, got 19 offers and sold for over 100K more…. Over the month of January, which is normally a pretty slow month, we sold 273 houses, with another 55 showing as pending, for a total potential sale of 328….  That means that, at this pace, if NO further listings came to market, everything would be sold in the next 29 days….. that is a super low inventory level. But how about condos. Traditionally, they have a history of being more affordable and available. Well, there are 227 Condos of all prices available in Winnipeg right now. One year ago that number was 402….. and 2 yrs ago it was 561 In January, we sold 69 condos, with another 40 showing as pending, for a total potential sale of 109 condos. This inventory level sits at 65 days….  While that's double the level of houses, in the condo-market this is super fast. So even condos are now selling with multiple offers, there is simply no escaping it. If you're a buyer, hold off if you can. And if you're a seller, RIGHT NOW is a great time to list your home  If you have to do both, there are strategies available to maximize your results….call me to discuss that may be best for your unique and distinct situation.

Listing and sales stats for luxury houses and condos in Winnipeg as on July 15th 2021

Winnipeg Real Estate Market report for Winnipeg in April 2021 Also check out https://boknows.homes/news for the latest online publications

Spring Market is here.....no doubt about that. Crazy bidding wars, severe shortage of available

Divorcing couples often end up selling their house. Mortgage Mike Schroeder tells us that there are programs in place to HELP divorcing couples, so that one of them can hang on to the home. Interesting call with Vancouver agent Tam Barclay about the state of the real estate market in that city. Also check https://boknows.homes/divorce for more tips.

Here are some links in the show Latest Market Update in PDF format is at https://boknows.homes/marketpdf (https://boknows.homes/marketpdf) Mortgage specialist Mike Schroeder is at https://mikeschroeder.ca (https://mikeschroeder.ca)

Monthly market report for Winnipeg's real estate market. Sales and listing stats for houses and condo in Winnipeg. Looking at entry level house sales, and the most popular price range for houses, which is $250 - $500K. Also all condo sales and listings are examined.

https://magazine.winnipeghomefinder.com/winnipeg-luxury-market-report-january-2021-luxury-real-estate-report/65223222

https://audio.winnipeghomefinder.com (https://audio.winnipeghomefinder.com)   Call with Mike Schroeder of Mortgage Architects.   email mortgage@mikeschroeder.ca   Winnipeg Real Estate Market report, also available in PDF format check https://boknows.homes/pdf

https://audio.winnipeghomefinder.com (https://audio.winnipeghomefinder.com) Episode to take a look at what happened, and what may happen next year. New market Updates will come via downloadable pdf in the near future. Here  https://magazine.winnipeghomefinder.com (https://magazine.winnipeghomefinder.com) or https://boknows.homes/pdf

Just a short message of Merry Christmas, Happy Holidays to all. A few tidbits of what you can expect in the New Year.

Go to https://audio.winnipeghomefinder.com for the podcast website

Description: In this episode we are going to talk about condos in Winnipeg. Are condo fees a total waste of money? Whats the condo market doing right now, and we'll look at a sample condo complex in Island Lakes. All on episode 144 of Winnipegs best real estate podcast. ShowNotes at https://boknows.homes/144 (https://boknows.homes/144) Get our Free Podcast App, available for Apple & Android devices by going to https://boknows.homes/apps (boknows.homes/apps) In today's episode, Number 144, our main topic will be the most recent Winnipeg condo market update, as well as answer the question: Are condo fees a total waste of money? I love interacting with people, explaining and teaching new things about real estate and home ownership, educating buyers and sellers in the process. Thats how this podcast was born. It's a labour of love. So if you find this podcast helpful, please download the free podcast app right to your phone. Its super easy, just go to boknows.homes/apps and you can chose from apple or android apps. Final thoughts and linksI hope you've enjoyed listening to this podcast half as much as I enjoyed creating it. And I really do love it. So if you like receiving this information, here are a couple of things I'm asking you to do. Install the free podcast app, available for IOS and Android devices. I've made it super simple...on your phone, go to https://boknows.homes/apps (boknows.homes/apps) and you will get the option for your device's app store downloads. Another thing you can do is go visit THIS show on the web at https://boknows.homes/142 (boknows.homes/142) and see the show notes and all the links. Once there, you will also see the little microphone which enables you to leave me a comment or suggestions on how to improve this podcast. Lastly, if you really want to show me some love, give me a 5-star rating. Again I've made it super simple, just go to https://lovethepodcast.com/boknows (https://lovethepodcast.com/boknows) and you'll be able to review it easily.

Description: In this episode we are going to talk about the latest real estate market update for Winnipeg's housing and condo market. We are going to touch on a few reasons why home buyers SHOULD consider buying a home in wintertime and share some money saving tips for home owners or those who want to become one. ShowNotes at https://boknows.homes/142 (https://boknows.homes/143) Get our Free Podcast App, available for Apple & Android devices by going to https://boknows.homes/apps (boknows.homes/apps) In today's episode, Number 143, our main topic will be the most recent Winnipeg real estate market report. We'll look at some reasons why buyers might consider continuing their housing hunt thru the winter, and some money saving tips for home owners. As (hopefully) most of you know, I'm a professional real estate agent, specializing in helping home and condo buyers and sellers in the Winnipeg market area. Thats how I earn my living and I absolutely love what I do. I love interacting with people, explaining and teaching new things about real estate and home ownership, educating buyers and sellers in the process. Thats how this podcast was born. It's a labour of love, I don't charge for ad spots, or collect money from it directly. If I mention or promote a local business or service, it's because I have either used it myself, or recommended it to friends and family and have had great feedback. So if you find this podcast helpful, please download the free podcast app right to your phone. Its super easy, just go to boknows.homes/apps and you can chose from apple or android apps. This Week on the BlogWintertime is usually when home buyers take a break. I get it....it's cold, there is xmas and new years, its winter vacation time. So many buyers put their home search on hold. But to paraphrase Jonathan Sacks......"When everyone else is buying, SELL"...  Looking at this another way.....when everyone else stops buying.... BUY. The lack of buyer competition is just one of 7 reasons why buyers might consider continuing their home buying journey. IF you can find a home that fits your needs....  don't wait til spring, when a new flock of buyers enter the market and create more bidding wars. Go to: https://stories.winnipeghomefinder.com/7-powerful-reasons-to-buy-a-home-in-winter December Real Estate Market ReportStats on Winnipeg housing market. How many listings are available, how many have sold over the past month? Are we in a buyers market, or sellers market? Money-Saving Tips for home ownersSaving money by using appliances in a smarter way. Washing machines, refrigerators, stoves and dishwashers can be energy and money hogs...... here are a few tips to use them more wisely. Final thoughts and linksI hope you've enjoyed listening to this podcast half as much as I enjoyed creating it. And I really do love it. So if you like receiving this information, here are a couple of things I'm asking you to do. Install the free podcast app, available for IOS and Android devices. I've made it super simple...on your phone, go to https://boknows.homes/apps (boknows.homes/apps) and you will get the option for your device's app store downloads. Another thing you can do is go visit THIS show on the web at https://boknows.homes/142 (boknows.homes/142) and see the show notes and all the links. Once there, you will also see the little microphone which enables you to leave me a comment or suggestions on how to improve this podcast. Lastly, if you really want to show me some love, give me a 5-star rating. Again I've made it super simple, just go to https://lovethepodcast.com/boknows (https://lovethepodcast.com/boknows) and you'll be able to review it easily.  

ShowNotes at https://boknows.homes/142 (https://boknows.homes/142) Get our Free Podcast App, available for Apple & Android devices by going to https://boknows.homes/apps (boknows.homes/apps) In today's episode, Number 142, our main topic will be "Mortgage Options for Buyers who are New To Canada". We'll also touch on a few points on how to get your home ready to sell in the springtime, and talk about some home insurance options. As (hopefully) most of you know, I'm a professional real estate agent, specializing in helping home and condo buyers and sellers in the Winnipeg market area. Thats how I earn my living and I absolutely love what I do. I love interacting with people, explaining and teaching new things about real estate and home ownership, educating buyers and sellers in the process. Thats how this podcast was born. It's a labour of love, I dont charge for ad spots, or collect money from it directly. If I mention or promote a local business or service, it's because I have either used it myself, or recommended it to friends and family and have had great feedback. So if you find this podcast helpful, please download the free podcast app right to your phone. Its super easy, just go to boknows.homes/apps and you can chose from apple or android apps. This Week on the BlogWe're just entering the late fall of 2020, but if you're thinking of selling your home in the spring next year, NOW is the time to start planning. Call your agent now, to do a walk-thru and give you honest and direct feedback. THIS is the time for critical, unvarnished information on what you could do to maximize the selling price of your home. On Winnipeg's Real Estate Blog, there is a post of 6 things to do to prepare your home for that spring sale. Here is the link https://boknows.homes/b81b91c0 (https://boknows.homes/b81b91c0) Spotlight on Local BusinessIf you're buying a house or condo and getting a mortgage (most people are), you will be required to get property insurance. Banks, Credit Unions, mortgage brokers....won't matter who you deal with, if they are loaning you money to pay for the home, they will want their investment protected. My favourite property insurance company is RA Hughes Insurance, located in the Dominion Shopping centre at the foot of the Norwood Bridge. They are an insurance broker, meaning they deal with a variety of insurance companies, and can help you find the best fit for you. Owner Darcy Cook and his super friendly staff have been protecting your peace of mind, since 1929..... (well, actually Darcy isn't THAT old...but the company was started by his family.) Call Darcy at 204-837-1960 Their website is here https://boknows.homes/cc0d5fd0 (https://boknows.homes/cc0d5fd0) Phone Interview with Mike Schroeder of Mortgage ArchitectsToday we will talk with Mike about mortgage options for people who are 'New To Canada'. Landed Immigrants and other statuses. Money-Saving Tips for home ownersThe American Water Works Association Research Foundation conducted a study in 1999 and found that 27% of water is used in the toilet, 22% in the washer, 17% shower, 16% faucet and 14% lost thru leaks. New toilets , showerheads and cold water in washing machine will help reduce your costs. Final thoughts and linksI hope you've enjoyed listening to this podcast half as much as I enjoyed creating it. And I really do love it. So if you like receiving this information, here are a couple of things I'm asking you to do. Install the free podcast app, available for IOS and Android devices. I've made it super simple...on your phone, go to https://boknows.homes/apps (boknows.homes/apps) and you will get the option for your device's app store downloads. Another thing you can do is go visit THIS show on the web at https://boknows.homes/142 (boknows.homes/142) and see the show notes and all the links. Once there, you will also see the...

Housing Market Report for October 2020 in Winnipeg. Always available on Spotify at https://boknows.homes/spotify The numbers of available homes in Winnipeg, and the numbers of sold homes over the previous month, as compared to the prior month and the same time last year.   For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber)

Thinking of getting into home ownership, but want to avoid bidding wars? Want a nice place to call your own without spending too much? Consider Winnipeg Condos For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) [00:00:00.240]What's Winnipeg condo market in July 2020? Coming up next.  [00:00:23.230]For those of you who have listened to or watched my housing market report for July 2020 in Winnipeg, you already know that the housing market is super hot. It's a super hot sellers market. Tough for buyers. Well, condos are kind of the opposite. [00:00:38.430]Condos are and remain and have always been for the last five years a real strong buyer's market. It's a great opportunity for you to get into real estate, to become a homeowner if you don't want to endure the bidding wars of houses. You can find a really nice condo even for under 250,000 dollars. But Condos in the 250 plus range are superstrong buyer's market. They can sit there for several months. You won't likely get into a bidding war if you buy one and you can get a pretty good deal on these days. [00:01:09.420]So let's take a look at what the market is like as an overview. [00:01:12.570]Last year for this time period, for a month, we sold 82 condos in Winnipeg. Last month, we sold 78. And then in June, we sold 108. So it's not only faster than last month, but it outperforms last year as well. As for the most expensive condo it did hit one million dollars in the North Henderson Highway area. And you're going to see that the condo market this month actually outperforms not only last month, but last year as well. [00:01:40.200]Let's take a look at the numbers of available condos for sale as of July 1st. We can see that last year, under two hundred and fifty thousand dollars. Last year we had 513 for sale. On June 1st, we had 354. And July 1st it was 369. So it's slightly more than last month, but it's way down from last year. [00:02:02.350]Same thing for condos of two hundred and fifty thousand dollars. +, all the way up to as high as they go. And they do go for a million dollars in Winnipeg. That's pretty, pretty comparable to last year. Last year we had 323. This this month we had 302, which is virtually identical to the previous month as well. So that's remained fairly stable. [00:02:21.390]But now looking at the sales, you're going to see that this month has outperformed the previous month and even the previous year condos under 250,000 dollars last year. [00:02:30.930]This time period, we sold 35. This month, we sold fifty five. And for more luxurious condos, 250,000 dollars and up last year we sold 47. This year we sold 53. So even when compared to last year, which was a fairly active year, condo sales are up this year over last. What does all this mean? I'll explain when I come back. [00:03:07.230]So with math formula, we combine the sale statistics and the available listing statistics and we come up with something that works out to be the days of inventory. This is basically answering the question that if nobody else listed their condo going forward, how long would it take to sell everything that's out there? And of course, the lower the number, the hotter the market. If we take a look at condos under 250,000 dollars last year, that number was 455 days. [00:03:36.420]In other words, it would take nearly a year and a half to sell everything that's out there. This month, that number has dropped to 201. So that's twice as fast as last year.

Update on the real estate market for Winnipeg. Housing sales and listings stats for July 2020 For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) [00:00:00.240]Let's take a look at the real estate market conditions for July 2020 in Winnipeg. [00:00:23.090] Well, hello, Winnipeg, it's Bo Kauffmann Remax Performance Realty, and it's July 2nd, 2020. And I take a look back at the sales and listings which happened over the last month or so, all of June. [00:00:34.580]And you're going to see that we are in a super hot sellers market right now. And for example, last year for the month, we sold 786 houses in Winnipeg. This year we sold 861. So that alone is 10 percent more sales. But you're going to see that the listings for actually way down, which makes it an even hotter market. Similar story with condos last year and this time period, we sold 82 condos and Winnipeg this year we sold 108. [00:01:03.030]So that's about 20 percent more or even 25 percent more. As for the market highlights for June, the most expensive house sold was 1.45 million in South Headingley. In fact, during the month, there were four houses sold for over a million dollars. And the most expensive condo hit one million dollars. And that's in the North Henderson Highway area. And as I mentioned earlier, the number of available houses substantially down quite a bit from last year. [00:01:28.190]So let's take a look at available houses in Winnipeg. Last year this time, we had 1,866. And today we got 1,232. That's that's a huge drop. That's about a 35 percent drop in listings available for the buyers to pick from breaking that down among the different price ranges for houses under two hundred and fifty thousand. Last year we had 486 available this month, virtually the same as last month, 265 available in that price range. [00:01:56.770]The mid-range homes, 250 to 500 thousand dollars. Last year we had 934. This month, we have 584 way down. So. And it's just about 10 more than last month. Luxury homes last year. 446 available. This month, 384. Again, a big drop over last year. Now the available listings are down, but sales are keeping up, or actually better than last year in most of these categories. [00:02:25.400]Under two hundred and fifty thousand dollar homes last year, in a time period of June, we sold 203. This year, 199. virtually the same. Quarter million to half a million dollar homes last year, we sold 504. During June this year 570. [00:02:41.630]And luxury homes as well. Last year we sold 79 in that time period, this year, 92. If you've been listening to my real estate reports over the past few years, you know, I put those numbers, that is the sales and the listings, together. And I come up with a quotient I called days of inventory that is kind of giving a number to how hot the market is. So let's take a look at houses under 250thousand dollars. You can see that maximum would be about 120 days. In fact, an average market would be around 90 days or so. Last year we were at 74. And this year, right now, this month, we're at 40 days. That is super, super hot sellers market. [00:03:20.860]Houses for 250 to 500 thousand dollars are in a similar predicament. Maximum is 120 days. Average would be around 90 or so. Last year, 57. This year 31. If you've got a house in the 250 to 350, 375 range and it shows half decent, it's going to be gone in a few days. [00:03:42.200]Luxury homes over half a million dollars, you know, a maximum about...

Still renting? Interest rates are super low, and there is even a way to buy without having 5% down. Let me show you how. For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) [00:00:00.240]Are you currently renting and thinking you can't afford your own home? Let me dispelled that myth right now. [00:00:22.680] So are you renting right now and wondering if or how you could afford a new home? Let me tell you what happened to a client of mine very recently. They called me at the end of May to tell me that they were they had been renting for about five years and everything was going okay until a noisy tenant moved in above them and they finally had it. [00:00:40.720]So they were looking at alternatives, but they didn't initially think that they could afford it. I put them in touch with my mortgage specialist and this is what we came up with. So they were pre-approved for $300,000 and their initial plan was to find a stand-alone home. But in the south end of the city, St Vital, , Fort Richmond, Richmond West. Now there are neighborhoods in Winnipeg, where I can find you are really nice. home for 300,000 dollars or less. Standalone house. But St. Vital, , Fort Richmond, White Ridge. Those kind of areas are not among them. So after a few disappointing showings, we switched focus and we started looking at condos. Currently they lived in about an 800 square foot apartment, two bedrooms, one bath, outdoor parking, and they were paying 1,210 dollars a month. After looking about three or four condos. This is what we found them for $275,000 dollars. [00:01:32.780]We got them a three level townhouse condo in Bridgewater. Here's what you've got on the main floor. You have a small office area plus closets and the laundry room, and that is the door to the attached garage. So they go from outdoor parking to a single attached indoor garage. On the second floor, we have a half bath, a really nice, open, modern kitchen with all the appliances, all stainless steel appliances included the patio door leading to the balcony and a large living room area. [00:02:03.760]And the top floor features two good sized bedrooms, a main four piece bath and the large master bedroom with a full en-suite and lots of closet space. Now, as I said, their apartment was 800 square feet. This condo is 1,350 square feet. So let's take a look at how those costs compare. As I already said, they initially paid twelve hundred and ten dollars for rent plus hydro. So this condo, we got them for two hundred and seventy five thousand dollars. [00:02:31.510]They put five percent down, but there's CMHC fees lumped into it, which is around four percent. So let's say that they had to mortgage a two hundred and seventy five thousand dollar mortgage and figure out what the interest is on that. So let's be generous and say they're paying 2.4% , which makes a monthly interest costs of 550 dollars. So, yes, the actual mortgage payment is going to be higher. But anything above the interest goes against their own mortgage payment. So that money is not lost. It's not an expense. It goes to pay down their own debt. The only real cost is the interest. [00:03:06.670]After this, a property tax of 250 dollars per month and then a condo fee of 225 dollars a month. Now, hydro costs are going to be very similar as their rented space, as will insurance. The condo building insurance is actually included in the monthly condo fees. [00:03:22.300]So all they have to do is add condo owners insurance, which is similar to renter's insurance. So add up all these costs and instead of 1,210 a...

If you're serious about buying a home in 2020, you will face 2 main challenges. Here is the one solutions to both: For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) [00:00:00.240]Are you serious about buying a house or a condo in Winnipeg in the summer of 2020? You're up against two challenges. I'll talk about those and how to get to the head of the line right away. [00:00:26.710] Hello again, everybody. It's Bo Kauffmann Remax Performance Realty. I'm a residential real estate agent in Winnipeg for the past 15 years and I enjoy working with buyers and sellers of houses and condos. [00:00:37.420]If you're serious about buying a house or a condo in Winnipeg in the summer of 2020, you're up against two challenges. One is a super active market. And the others is Covid. I'll talk about both of those challenges right away and then give you a shortcut to get you to the head of the home shopping line. Please note I said if you're serious about buying a house or a condo in Winnipeg, I get a lot of calls from people saying, hey, I just want to see your listing. [00:01:01.750]And when we talk about it a little bit further, they say, no, we're just starting to look or we're just curious. We just want to see it. So let me explain. [00:01:10.180]When a seller hires a listing agent, that agent owes the homeowner a set of duties and responsibilities,.... responsibilities, which I take very seriously. Those responsibilities include not showing the home to anybody who is not pre-approved, not pre qualified, may or may not be able to afford it, and more importantly these days, to show the home only to those people who have been deemed to be covered free to the best of our ability. [00:01:36.080]So if you're just browsing, just starting out, just looking, there are plenty of open houses still. You can go online, see virtual tours, even virtual open houses. Now, that's a great way to start, but don't call a listing agent to show you a house, because here is what's supposed to happen if you phone me. My first question to you is, are you pre-approved? Now, even that question has offended some callers, and I'm sorry for that. [00:01:59.160]But as I said earlier, I owe the home seller, a responsibility that I'm not going to show the house to anybody who just makes a phone call. You've got to be pre-approved. My next question may be who are you pre-approved with? Because not all lenders are the same. I'm just now dealing with somebody who has gone through their third week of financing, continuing to get extensions on the financing condition. It's not acceptable. And these people were supposedly pre-approved. [00:02:25.060]And another example, I met a young couple who came to me pre-approved by one of the smaller credit unions when it came time to make an offer. That credit union wanted a full week financing again in this active market, that's not sufficient. So not all lenders, not all mortgage lenders are the same, and some are definitely better than others. Another example may be that you need to sell your current home before you can buy one. There really is no point in looking at a house, especially these days, because when we make an appointment to get you into a house for a showing, that homeowner has to pack up and leave. [00:02:58.120]That's under the COVID rules. The homeowner is not supposed to be in the house at the time. So we are really inconveniencing that seller to show the house to somebody who is not ready to buy. But

Housing Market Report for Winnipeg on June 1st 2020 For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) [00:00:00.150]What's the real estate market on June 1st 2020 in Winnipeg? Coming up next.  [00:00:20.710]Well, it's time to take a close look at what the real estate market is doing and Winnipeg, this is at the beginning of June 2020. You know, I get phone calls just about every day. [00:00:29.490]I got a call from a nice older lady saying, you know, right now with all this Covid stuff, this must be a terrible time to be selling your house? And really nothing could be further from the truth. You're going to see that in the last month, that's the month of May, sales have nearly doubled over April. Yet the numbers of available listings has not kept up. So you're going to see all the indicators are towards a much, much stronger seller market than normal. [00:00:55.260]There is buyers are coming out, but they're just not finding the available homes. There's one thing I'm doing different this month, and that is that this is specifically for houses. I will do a separate podcast for condominiums because they really are a separate market all to their own. So let's take a look at some of the highlights. For the month of March, the most expensive house sold in the month of March was 1.5 million in tuxedo. [00:01:17.880]And the most expensive condo was a brand new construction condo. F$488,000 in the S.St Vial area. In May 2019. We sold 758 houses. Now, compare that to the sales of April this year. They were 375 houses, but in May we bounced right back to 641 houses sold in Winnipeg. That's fast approaching the norm, which was kind of last year. So let's break that down a little bit further in the price ranges under two hundred and fifty thousand dollars on June 1st. [00:01:51.450]Last year we had 444 homes available. In April, we had 285. And in May this year, we're down even further at 269. So the available homes in this price range keeps dropping. But buyers are coming out. So if you've got a house in that price range, now is the time to list that. [00:02:10.220]Looking at the mid price range, these are homes between a quarter million and a half million dollars. Last year we had 778 available. At the end of April, we had 590. And at the end of May or June 1st, we only have 575. Again, the available number of homes has steadily drop and it's much below normal. [00:02:31.390]And a slightly different picture in the luxury homes sections last year. These are homes of 500,000 dollars or more. Last year we had 413 at the end of April. This year we had 338. [00:02:44.730]And on June 1st this year, the inventory bounced up a little bit to 368. So let's take a look at sales over the past month. So last year, during the month of May, we sold 187 entry level homes in May. This year we sold only 93. So that's about half. And now in May 2020, that jumped back up to 157. So almost on par with what it was. like mid-range homes, 250 to 500,000 dollars last year in May, we sold 487.  April this year 247 again 1/2. [00:03:18.630]And that bounced right back and made this year to 418 almost on level with what it was. Now, as far as luxury homes go, last year we sold 85 of those in the month of May. [00:03:29.850]This year in April, that dropped down to 35. But this year in May, it went back up to 66 homes. As you can see, sales have nearly doubled over last month. But in most cases, inventory, the available number

Recent sales stories point to the fact that right now, the spring market is starting. For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) Looking after and reporting on historic stats is easy…..  extrapolating information from those stats, and predicting the future is harder. Unless A few very loud and obvious facts jump out, making it easier to interpret. For example: 2 weeks ago I listed a bungaow in the west st james area for $250,000. It ended up with 45 showings and 15 offers, and sold for $30grand over asking. But one example does not make a trend   So this past week, I listed another bungalow, this one in north kildonan, for $260K. 46 showings, 10 offers and sold for 23K above asking. So 91 showings, and 25 offers on these two listings.   Seeing a trend? Two different parts of the city, but both homes are smack in the middle of Winnipeg’s most popular price range category…. Why is this happening? Well, lets look at available listings. Last year, this time, we had 1635 homes for sale in Winnipeg. Today, that number is 1273.  That is 22% fewer listings than the same time last year. So if you’re thinking of selling your Winnipeg home, NOW is the perfect time. Listings are down, but buyer activity  (91 showings, 25 offers on two homes) is up.

Can the time of year play a difference when selling your home? How about setting the best 'listing price'? Get the answer in these two stories. For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) [00:00:00.150]What kind of an effect can the proper pricing and timing have when selling your home in Winnipeg? Coming up next. [00:00:25.460] So if you're thinking of selling your house or condo in Winnipeg, timing the market is important and pricing correctly for wherever that time of year is. Not every market is the same. Spring market is different than the summer and the winter and the fall is different again. [00:00:40.640]I've got two real life examples of what a difference pricing and marketing time can make. And the first one kind of talks about the difference of pricing. Recently, I had occasion to do research in an area in St. Boniface where two homes were sold on the same street. They were basically identical homes built probably by the same builder. Certainly the same size, the same style, built the same year. But inside they were quite a bit different. [00:01:08.090]The first home we look at was listed at the end of August. Generally, the market in Winnipeg starts to slow down in August, especially towards the end end and in September. People have bought their houses. They're now concerned about moving in, getting their kids in school and stuff like that. So at the end of August is generally not a great time to list the house. This one in particular had been updated extensively. New bathrooms, new kitchen windows, flooring, electrical, was extensively renovated, looked really, really gorgeous. [00:01:35.840]And they priced it at $285,000, which is probably fair for that market and that house. It took 40 days to sell and they eventually sold it for 275. So 10,000 under and it took six weeks to sell. Now look at another house. Same street. It was listed at the beginning of June. And that is still traditionally part of the spring market. Things are still active. People are still looking very much looking, especially the beginning of June. [00:02:01.790]Same kind of house, same size, layout, number of bedrooms, number of bathrooms on the same street. But that's where the similarities end. It had an old kitchen, old bathroom. Couple of the windows were updated, but not much else. So they priced us at $249,900. Now remember, it's still spring market, $249K. They got multiple offers and it sold for $273,000, just two grand below the one that was completely updated and finished. [00:02:29.870]So that's the benefit of listing at the right time of year when there's still multiple bids, multiple offers happening. It doesn't seem fair, but that's just the way. Just the way it is. If you can avoid listing at the end of August, do so. Hold off for a little while. Market generally does pick up again at the end of September, beginning of October. But if you don't have a choice, you don't have a choice. [00:02:52.430]You have to just kind of make the best of it. But spring market is definitely the best time to list. And my next story is going to be an even wilder example. Unbelievable. So stay tuned. [00:03:17.240]This next example. I was actually intimately involved with both of them. I saw both houses inside and out. These homes are located in River Heights. And just like the previous example, they're on the same block, same street, same side of the street. So they're facing the same way, the same sun exposure. Probably built by

Looking at the sales of homes and condos during April 2020. How did Winnipeg's real estate market do during the first full month of the pandemic? For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) [00:00:23.390]Welcome, everybody. It's mMay first and I take a look back at all the sales in April, the entire month, and that is the first full month in this pandemic, as you may remember. The markets, everything was shut down around the middle of March. [00:00:36.460]So March's report was still half normal, half pandemic. So now we're taking a look at the first full month to see what numbers have done. Bottom line listenings her down, sales are down, but the intensity remains. I'll show you what I mean. And I usually compare to the previous month. But really, the best way to compare is to the same time period previous year.. So what we have is last year in April, we sold 85 condos. [00:01:01.720]This year, 42. So that's half. Last year we sold 558 houses in that time period. This year, just 375. These are numbers for inside Winnipeg. And they're gonna be different than what Winnipeg REALTORS® puts out simply because Winnipeg REALTORS® covers the entire south east quadrant of Manitoba, including Steinbach and Portage LaPrairie and Selkirk, whereas I'm looking at only Winnipeg. All right, let's look at available listings. So last year, this is under a quarter million dollars. [00:01:30.280]Last year we had 363. This year we've got 285. So that's quite a bit down. Last year, 250000 to five hundred thousand dollar homes. At the end of April, we had 694 this year, just 590. So that's down about 14, 15 percent. And the luxury homes last year we had 378 available this year, just 338. So that's about 40 down. That's another 10, 11 percent. [00:01:57.460]So as I mentioned before, listings are down, but so are sales last year, quarter million dollars or less. We sold 156 homes, this year just 93. In the 250 to five hundred thousand dollar range, Last year we sold 357, this year, just 247. So that's about a 30 percent drop. [00:02:16.270]And last year, in the luxury home range of half million or more, we sold 45 homes this year, just 35. So as you can see, listings are down and sales are down. So how do you correlate the numbers? I mean, if one of them is significantly different than the other, it will have an effect on whether it becomes a buyer's market or a seller's market. And to look at that, we take what's called an inventory quotient. [00:02:38.350]So we take a look at how many days it would take to sell everything that's out there at the current sales rate. The lower the number, the hotter the market. [00:02:47.000]So last year, under 250000 dollars, it was 72 days. This year, it's 92 days. So it would take an extra 20 days to sell everything that's out there so that it's become a slower market than last year, same time. The same holds true for all the other price ranges at 250 to five hundred thousand dollar homes last year with 60 days. [00:03:07.300]This year it's 72. And for luxury homes, last year, 260 days, this year 290. The difference between last year and this year will become even more pronounced in the condo section, as we're going to see right away. [00:03:20.740]Comparing last year to this year under 250000 dollars last year, we had 383 Condos available. This year, just 322. So that's about almost 20 percent less listings. Quarter million and up. Last year we had 312 available this year 290....

Living and working in Winnipeg's Exchange District. Interview with someone who knows! For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) A few links:  Productivity & work-at-home resources (https://saganmorrow.com/resources/) Indie Author Weekly podcast (https://saganmorrow.com/podcast) @Saganlives on  Instagram (https://www.instagram.com/saganlives/)   What's Winnipeg's Exchange District like? Let's talk to somebody who lives and works there. That's coming up next. [00:00:10.100]You're listening to the Bo Knows Real Estate podcast, tips and advice for homebuyers, buyers, sellers and owners with award winning Remax agent Bo Kauffmann. [00:00:25.860] - Bo Kauffmann - REMAXWinnipeg has a lot of fantastic neighborhoods, some well known like Osborn Village and Corydon Village, and another rapidly growing and expanding district is the Winnipeg's Exchange District. Now, some of you may know I've been publishing a blog for all going on 12 years now, and I've been publishing a podcast for about eight or 10 years. [00:00:45.270] - Bo Kauffmann - REMAXAnd a young lady by the name of Sagan Morrow has been writing articles for my blog almost from about 10 years ago. And I know she has a condo in the exchange district. So I went to her when I wanted to talk to somebody about life and work in that district. I reached out to her and she was more than willing to come on to the podcast. So by way of introduction, Sagan Morrow teaches busy, time crunched solopreneurs, how to build their own successful home based businesses without the overwhelm, through online courses and business resources at Sagan Morrow. com I'll have the links in the show notes. She specializes in productivity tips and action oriented strategic planning for multi passionate creatives. Sagan has over a decade of experience as a freelance writer and hosts the indie author weekly podcast. When she isn't teaching solopreneurs or doing freelance work for her own clients, Sagan likes to write romance novels. All right. So I'm here with Sagan, moral productivity strategist and author and Sagan that's been living in Winnipeg exchange district in a condo for quite a while. [00:01:58.440] - Sagan MorrowHow many years, Sagan? [00:01:59.940] - Sagan MorrowIt's been ten years now. [00:02:02.880] - Bo Kauffmann - REMAXAnd same place in a condo? [00:02:04.760] - Sagan MorrowYes. Yes. I bought my condo. (https://blog.winnipeghomefinder.com/buying-a-condo-infographic/) I lived. I lived in author and village briefly. And then in West Broadway. And then this is the first the first condo that I bought. It was the first place I ever even looked at when I was looking for a home. And I just fell in love with it immediately. And I bought it and I. I've been here ever since. I'm very happy here. [00:02:25.500] - Bo Kauffmann - REMAXIs it one of those, like I'm not asking for your address here, but is that one of these, like, warehouses that's been converted which what the exchange district is really known for? [00:02:34.230] - Sagan MorrowYes, that's exactly what it is. You've got like exposed brick and all that. Yeah, OK. Very nice. All right. [00:02:42.000] - Bo Kauffmann - REMAXSo you've lived in always the like he said Osborne Village and some of the other nice areas. What do you like about the exchange district? [00:02:48.630] - Sagan MorrowYou know, it's been really wonderful to live here over the past 10 years and see how much...

Why are insurance companies getting concerned about aluminum wiring? What should a home owner, or a home buyer, look out for? For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) Bo Kauffmann 0:00   Do you currently own or are looking to buy a home which has aluminum wiring? What's the big deal? We'll talk about that next. Unknown Speaker 0:10   You're listening to the bone nose real estate podcast tips and advice for home buyers, sellers and owners with award winning REMAX Agent Bo Kauffmann. Bo Kauffmann 0:24   You've probably heard that insurance companies are paying special attention to homes which have aluminum wiring. Well, what's the problem? Really, there isn't any problem. Aluminum is still being used today in industrial and commercial application. So for example, large warehouses, office buildings, industrial complexes and everything. It's being used today by companies because it's about a third the price of copper, a ton of aluminum right now costs about 1500 dollars US while a ton of copper costs well over $5,000 us and so it was that back in the 1960s a residential home builders thought They might have a better cheaper product on their hands. So you're looking at the prices of copper in 1962, they were about 30 cents a pound. And by 1966, they had more than doubled. So homebuilders, even though for for a single home, it might only be 100 or $200 difference, but if a home builder builds 234 hundred homes a year, it can add up.  So they're looking for cheaper alternatives, and they settled on aluminum. Now like I said, What's the problem with aluminum? Well, there's no problem as long as it's treated correctly and upgraded correctly.  And here's what happens. Let's say you have a 1970 bungalow that was built by a builder using aluminum wiring, they would have used aluminum switches, aluminum plugs, aluminum rated light fixtures, all those things are called devices by electricians. So all the devices that would hook into that house would be rated for aluminum.  Now fast forward to 1995 as an example, the current owner of the home wanted to give it an update. So new paint, new floor. And of course, we're going to update the lights and why not update the switches and wall plugs to make them look more modern. So you go to Home Depot, and you find that a copper light switch is $1, whereas an aluminum rated light switch is $8. So what most people do well, they go with the cheaper stuff. And that's when the problem comes in.  You'll have aluminum wiring, hooked into copper light switch, aluminum and copper, very dissimilar metals, they will heat and cool and shrink and expand at different rates. And over the years as this happens, they'll start to work themselves loose, causing corrosion and eventual sparking and that's what causes fires. Until a few years ago, insurance companies had grandfathered these types of homes. So if you owned a home for the last 20 years, insurance companies weren't bothering you. If you went out and bought a home then a new buyer would be required by insurance companies to get an inspection, electrical inspection with a certificate to show that they All the wiring is safe and has been treated properly. The devices are the right ones. And if they're not that they're at least hooked up in a correct way.  That was until recently. However, now insurance companies are even sending letters out to owners of homes that are...

Want to sanitize and disinfect your car and home against Covid-19, SARS, H1N1 as well as germs? Here is a new product and service that will help do that. For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Sanitizing homes and cars. Introducing a brand-new product and service here in Winnipeg coming up next. You're listening to the Bo Knows real estate podcast, tips and advice for home buyers Sellers and owners with award-winning Remax Agent Bo Kauffmann. All right, so a couple of weeks ago friend mine who is the business development manager at Eastside Collision is name is Doug McGuffin reached out to me and told me about a brand new product that they are importing or bringing into Manitoba and they hold the sport for I believe western Canada. And it's a product that helps people disinfect their cars and it can be taken a step further. So let me introduce Doug Magoffin and let's find out more about it. All right, so I'm here with Doug of East Side Collision and he's told me about a great new product that they got a hold of that helps sanitize, disinfect cars. Doug, tell me a little bit more about it. Yeah, for sure Bo thanks for having me. So we came across a new product. It's called Environize natural vehicle disinfecting and sanitizing service and what this is about is it's a new way for us to clean and sanitize your vehicle prior to it coming into the shop just to ensure everyone's safety. With the recent events of what's going on nowadays, everyone's health and safety is of utmost importance. So what we've done is we've taken it upon ourselves to ensure the safety of our clients and our staff. So we're going to be sanitizing every vehicle that comes into East Side prior for repairs. And after we return it back to the customer and what this product does it's a fogging system that allows us to get into every nook and cranny inside a vehicle and the fogging machine will get in there with the solution our Environize solution and kill and destroy, in fact any of the harmful bacteria or viruses that may be in there. I kills everything like mold mildew, bacteria, viruses such as E coli, H1N1, covid. So everything that's out there nowadays if people are worried about this disinfectant cleaning will will take care of that. So that's awesome. So if somebody brings in their car for Auto Pack repairs, you said you're going to do it when the car first comes in and then you can do it at the end when the car goes back to the customer as well. Yeah, that's correct Bo. So we're going to bring it in we're going to disinfect it. It when it comes into the shop. So the safety of our of our technicians is going to be taken care of and then prior to releasing the vehicle back to the client after we've done our quality assurance test. The vehicle will be parked in our service Bay and it will be fogged One Last Time prior to us giving the vehicle back to the customer and all they do is they get in the car themself and drive it out the shop. So it is our version of a note touch service. Now I can think of a lot of different companies and services that could benefit just from having their cars done even without Autopac repairs. So I'm thinking police vehicles, ambulance, taxis, moving vans, anything like that. Do you offer this service to somebody who is not going through an autopac claim? Yes Bo. That's a very good question. We have had a number of people inquired about that have their own their secondary Vehicles whether or not they can have this service done. So there is a need for this and there are people that are...

Is now a good time to buy or sell a condo on Wellington Cr.? For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Condos on Wellington Crescent is now a good time to buy or sell one. Let's find out. You're listening to the Bo Knows real estate podcast tips and advice for home buyers Sellers and owners with award-winning Remax Agent Bow Kaufman. I've been producing Winnipeg real estate market updates for many years. It's a great way to see what's going on in our city. But real estate is even more local than that. Each neighborhood can have their own unique market conditions. So if you're curious about your area and Winnipeg email me at Bono's Homes at gmail.com, and I'll create a special report just for you. Alright, so the Wellington Crescent area is known for a lot of things very beautiful eclectic. Nice area great for walking, but one of the things its known for is its variety of condos and you have condos ranging from the mid 100's all the way up to the million-dollar plus so let's take a look at what that market looks like now and that's April 22nd 2020. There are currently twenty two condos available on Wellington Crescent three between a hundred and two hundred thousand eight of them between two and three hundred thousand six between three and four hundred thousand to between four and five hundred thousand. And then it jumps up to the six to seven hundred thousand dollar range. There are two there and one is just shy of $900,000 now next. We normally look at how many have sold in the past two weeks and how many are currently pending sale? Well now there are no pending sales and none of them have sold in the past two weeks. So we jump to the Past 31 days where we see that two condos have sold in the past month one between two and three hundred and one between three and four hundred both of them sold the Under asking price to less than full asking price, which is not unusual for condos. If we want to know whether or not the coronavirus has an impact on the market. We need to compare this time period to the same time period over the past couple of years and here we see that in the past 31 days as I said with sold to condos on Wellington Crescent while last year the same time period we sold for however the year before that we only sold one and in 2017 again we sold for so in this market does not appear to be a huge impact being made by the current conditions. So to answer the question is now a good time to buy a condo or Winnipeg in general has been a great buyers market for condos for the past few years certainly that holds true for welding and Crescent as well with 22 listings price between the mid hundred and seventy thousand dollar range all the way up to just shy of 900,000. There is a lot of condos out there just looking for buyers. So if you're looking to buy a condo where there's on Wellington Crescent or anywhere in the city, give me a shout. It spoke. Man Remax Performance Tool for triple 3 2 2 and hey, if you're still with me at this point, why not grab my free podcasting app available for IOS and Android devices? It's super easy. Just go to Winnipeg dot tips / apple / or Android that's Winnipeg dot t-- I PS / apple or / Android that way you'll never miss another episode about Winnipeg real estate or both. You've been listening to Bo Kauffmann of RE/MAX performance Realty. Are you thinking of buying or selling house or a condo in Winnipeg? Call Bo at 204-333-2202 To Remember bone knows real estate. Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber)

Thinking of buying a home with hardwood floors? Here are a couple of tips on how to check for hardwoods, and a funny real estate story. For more real estate info, check my blog at (https://blog.winnipeghomefinder.com) Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) Check my (https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber) [00:00:00] Hardwood floors, 3 tips and one funny story coming up. [00:00:03][3.1] [00:00:07] You're listening to the Bo Knows Real Estate Podcast tips and advice for home buyers, sellers and owners with award winning Remax agent Bo Kauffmann. [00:00:17][9.9] [00:00:22] OK. So today we're going to talk about hardwood floors for a number of reasons. They've become really popular again. Some people think that they're just cleaner. They trap less allergens and dirt than carpets. Some people feel that a nicely finished floor adds a lot of warmth and color to the room and to the house adds a lot of class. For whatever reason, hardwood floors are a sought after feature in a house. [00:00:43][21.7] [00:00:44] So I can tell you that a house built between the nineteen hundreds and up to the late 1960s, it's quite possible that that house was built with hardwood floors originally. I can also tell you that in the 1970s something changed. Builders either got cheaper, maybe hardwood floors got too expensive, but the Qualicos, Flair's, Greentrees and engineered Homes of the 1970s and onwards did not include hardwood floors unless they were a custom built or especially requested by the buyer. Now, remember that fact because there will be a test at the end not saying 100 percent for sure that that question will be on it, but it would be a good one to remember. Wink-wink. [00:01:20][36.0] [00:01:21] If you're looking at something in River Heights built in the 40s and 50s, odds are that there is hardwood floors under those carpets. But how can you tell if the carpets are on there? Now keep in mind you're the buyer. That's not your house yet. You can't just peel back the carpet and damage stuff for the seller. So how can you tell? Well, there's a couple of really neat little tricks that you can use. [00:01:42][20.5] [00:01:43] The first one would be to look inside the closets. So go in the hallway, open a hallway closet. Again, odds are that if they laid carpet, they might not have laid it on the floor in the closet. So if you look at the floor in the closet and it's hardwood floors, well, then the chances are most likely that the hallway is also hardwood floors underneath that carpet. Just because you found carpet in one spot doesn't mean it's everywhere. So quite often they've had the living room, dining room and hallway done in hardwoods. [00:02:11][28.7] [00:02:12] But the bedrooms might be another story. So you have to look in the closets of each bedroom as well. And if you find it inside the master bedroom, make sure you check the second and third bedroom, because I just listed a house in the west end of West St. James, almost near the perimeter where the hardwoods are in the master bedroom. But the second and third bedroom are actually tiled floors. So what do you do if you can't find hardwoods in the closets? [00:02:35][23.3] [00:02:36] Well, another neat little trick is to lift the heat register, the floor heat register. So you lift that piece of metal out, that little diffuser plate and then you can lift the edge of the carpet and tell whether there's hardwoods or just plywood under there. [00:02:50][13.5] [00:02:50] So here's another tip. If you're looking at a two story home, or a story and a half. Whatever the configuration is, if it has...

When buying a house or condo, should you take the mortgage insurance offered by your lender, or should you opt for life insurance instead? Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) [00:00:00] Mortgage insurance or life insurance? What's the difference? Let's find out right now. [00:00:04][4.1] [00:00:08] You're listening to the Bo Knows Real Estate Podcast tips and advice for home buyers, sellers and owners with award winning Remax agent Bo Kauffmann. [00:00:18][10.2] [00:00:23] Today, we'll look at the difference between mortgage insurance and life insurance. This has nothing to do with the property itself. Property insurance or CMHC kind of mortgage and housing. If you're buying a house and putting less than 20 percent down, you need to get CMHC. That's not what we're talking about. What we're talking about today is a bank offering product called mortgage insurance. And how does it compare to a personal or a life insurance? Let's let's discuss. [00:00:50][26.3] [00:00:51] All right. So I'm here with Thomas Johnson, financial adviser for Cascade Financial. And we're going to discuss the differences between mortgage insurance and what I call life insurance. He calls it personal insurance. So here we go. Thomas, welcome. [00:01:03][12.6] [00:01:04] Thank you Bo. [00:01:04][0.3] [00:01:05] OK. So why don't you tell us a little bit about what a mortgage insurance is? [00:01:08][3.8] [00:01:09] More insurance really is at its core, it's always a life insurance policy. And then there's usually one extra insurance type that you can add onto it that needed disability insurance. Critical illness or loss of employment. It's the kind of thing that comes standard when you go into a bank or when you deal with a mortgage broker. It's a requirement. It's something they have to offer to you as part of the lending deal. Just because the federal government realizes the importance of having mortgages insured against death, disability or illness. So that's what mortgage insurance is in a nutshell. [00:01:41][31.9] [00:01:42] So they have to offer it. But the consumer, the homeowner does not have to buy it? [00:01:46][4.0] [00:01:46] No, it is 100 percent electable, and that's a common misconception. A lot of people think they have to take the insurance to get the get the mortgage. But it is 100 percent elective and you still have to apply and qualify. [00:01:58][11.8] [00:01:59] So what are some of the advantages of using mortgage insurance? [00:02:01][2.3] [00:02:02] Really, there's only two that I can think of. The first thing is that it's simple and easy to apply for because you're already at a desk. You are already there with your mortgage broker and a banker. The papers are right in front of you and it doesn't require separate meeting. Somebody like me makes it easy. And then also it's easier to apply for. And I ask, is that just because they only asked a handful of questions, you may face three, four or five questions, basically. Are you a smoker? Yes or no? And are you suffering any serious health problems? Yes or no? And if you answer no to the second one, then will you get a policy in your hands? But the actress will talk about in a little bit. It doesn't necessarily mean that you are going to be covered. [00:02:41][39.0] [00:02:42] Right. And actually, we'll get right into that right now, because that's one of the drawbacks of the mortgage insurance, as I understand it. [00:02:48][5.5] [00:02:48] Absolutely. There's there's a number of drawbacks. The biggest one and the big killer for me is really that you are often not insured or guaranteed to be insured simply because the...

In addition to the mortgage, and down payments, anyone buying a house or a condo will need to come up with 'Closing Costs'. These include legal fees, Land Titles Taxes, Property Taxes and Home Insurance costs, in addition to possibly others. Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) [00:00:00] When buying a house or condo, what and how much are closing costs? We'll look at that next. [00:00:05][5.4] [00:00:09] You're listening to the Bo Knows Real Estate Podcast tips and advice for home buyers, sellers and owners with award winning Remax agent Bo Kauffmann. [00:00:19][9.9] [00:00:25] So in this episode, I want to take a look at what the additional costs are when buying a house or condo. And what we're going to see that it doesn't really matter whether it's a house or a condo. The costs are virtually identical with just the one main exception. And these are also the costs that a buyer has to come up with in the form of cash. They cannot be lumped into the mortgage or in the form of a loan. You could have an overdraft in your checking account that you used to pay for these, but basically you have to come up with that money at the time of possession. [00:00:56][31.5] [00:00:57] So we're not talking about CMHC fees. Those can be lumped into the purchase price. So, for example, a 300,000 dollar house fee putting five percent down your mortgage, you would expect it to be 285,000. That's three hundred minus 5% leaves two hundred eighty five thousand. However, with CMHC fees, you're going to quickly find that your mortgage is actually in the low to ninety two, ninety three, something like that. So we're not talking about those costs, we're talking about the additional costs you have to come up with at the time of possession. [00:01:28][31.0] [00:01:29] And they are basically four different things. First one is legal fees. We're going to talk about land titles, transfer tax. We will talk about property tax and home insurance. Now, there are other things like a mortgage insurance, which is optional. There's moving costs if you choose to do those. But those first four are pretty much mandatory. You have to have home insurance. You have to pay the taxes, the legal fees and the property taxes as well. [00:01:57][28.0] [00:01:58] So let's take a look at legal fees first. If you Google legal services. I'm sure you're going to find lawyers advertising, you know, a 399, 499 to buy a house. But there's fine print involved in all of those. And that is plus disbursements. And it's those disbursements that are really going to add up. What are disbursements? [00:02:18][20.0] [00:02:19] Anything from office fees, secretarial fees, photocopying rubber bands and staples all the way up to registering the mortgage on the title, which is usually about $200 and getting title insurance. Highly recommended. And that's about 250 to 300 dollars. So by the time it's all said and done, a buyer should budget between 12 and 15 hundred dollars for legal fees when buying a house or a condo to air on the side of caution. I would even advise to budget around fifteen hundred dollars. [00:02:53][33.9] [00:02:56] The next thing is the dreaded land titles transfer tax. And I used to think that Manitoba was the worst in Canada, but I recently talked to somebody who's moving to British Columbia and their rates are pretty much the same. So this these rates were set many decades ago and that's why you have things like or the first thirty thousand dollars are free, while $30,000 might have bought a house in the late 60s or mid 70s even, but certainly not today. So as a baseline, let me tell you that a 200,000 dollar house costs $1,720....

You bought a home and it burns down just before you take possession. You dont have to go thru with the deal, do you? Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) [00:00:00] You buy a house and it burns down before you take possession. You don't have to go through with it, do you? [00:00:04][4.7] [00:00:09] You're listening to the Bo Knows Real Estate Podcast tips and advice for home buyers, sellers and owners with award winning Remax agent Bo Kauffmann. [00:00:18][9.9] [00:00:23] I love law and I love history. And in Canada, our law has been based on British common law, which is something that has evolved over the centuries, literally over hundreds and hundreds of years. So I learned about this case a few years ago and I wanted to share it with you. I found it to be very interesting. So the story goes that in the mid 1500's, a home purchase took place in England and it resulted in a court case and ruling, which still impacts us today. Now, the names and the dates have been changed to protect the innocent, even though nobody from that time is still around. But the underlying facts are true. So let's go back in time and see what happened. [00:00:57][33.6] [00:01:00] It was a sunny day, March 30th in the year of our Lord, 1546. A buyer, Richard Smith, was viewing a gorgeous homestead in Upper Uxton, being sold by the longtime owner, William White. Mr. Smith was quite impressed and decided to make an offer. [00:01:16][15.6] [00:01:17] "I offer the total sum of a hundred gold coins and I would like to move into this home, on May the 15th, in the year of our Lord 1546". [00:01:24][6.7] [00:01:26] "I accept your offer. Let's put it in writing". [00:01:28][1.8] [00:01:28] And so the customary contract was drawn up with payment to come on the date of possession. On May 15th, the buyer arrived at his new home to find, to his horror that the place had burned down a week earlier, as a result of a freak lightning strike. As one might expect, the buyer was not happy and tracked down the Seller at his new home. [00:01:48][19.5] [00:01:55] "How can I help you?". [00:01:56][0.6] [00:01:57] "The place is burned to the ground on I'll not be concluding our purchase. You can keep your charred pile of rubble". [00:02:03][5.8] [00:02:04] "We'll see about that. I'm taking this to court.". [00:02:06][2.0] [00:02:06] The case went before the courts and the resulting ruling was a bit of a surprise to the buyer. "This court rules that are legally binding agreement was made on March 30th in the year of our Lord 1546, with the acceptance by the seller. And on that date the buyer became the new owner of the home. The sellers role switched from that of an owner to that of a caretaker of the property. It was the seller's responsibility to maintain the property to his best ability. However, a lightning strike cannot be prevented. Therefore, the buyer must conclude the transaction and pay the seller the agreed upon sum of money. [00:02:40][34.0] [00:02:41] And we're back in the present day. And remember how I said that our laws today are based on these old English court rulings? Well, the underlying reasoning for what we just heard still holds true today. A buyer becomes the actual owner of the property, the minute all conditions of the offer are satisfied. The buyer might not take possession for several weeks, but they are the owner and the seller becomes a caretaker of sorts. So how do we protect today's buyer from the taper scenario we just heard? I'll have the answer right after this. [00:03:08][26.9] [00:03:11] You're listening to Bo Kauffmann of RE/MAX performance realty. If you were enjoying the...

Market stats and conditions for the Southdale area in Winnipeg. Is now a good time to buy or sell in Southdale? Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) [00:00:00] Is now a good time to buy or sell in Southdale, Winnipeg? Let's find out. [00:00:04][4.0] [00:00:08] You're listening to the Bo Knows Real Estate Podcast tips and advice for home buyers, sellers and owners with award winning Remax agent Bo Kauffmann. [00:00:18][9.9] [00:00:21] I've been producing Winnipeg real estate market updates for many years. It's a great way to see what's going on in our city, but real estate is even more local than that. Each neighborhood can have their own unique market conditions. So you're curious about your area and Winnipeg. Email me at Bo Knows Homes at G-mail dot com and I'll create a special report just for you right now. [00:00:43][22.1] [00:00:43] In early April 2020, we have seven attached and detached homes available in Southdale, three between 200 and 300 thousand, one between three and four hundred, two between 400 and five hundred thousand and one just over six hundred thousand dollars. [00:00:58][14.9] [00:00:59] There's currently one pending sale, so the buyer just needs to get financing or something along those lines and that is between 400 and five hundred thousand dollars. Over the past two weeks, we've sold five houses in the Southdale area, one between two and three hundred, two of them in the three to four hundred range and two of them in the four to five hundred range. In that last one, one sold just under a list price and the other one sold actually over list price, likely indicating multiple offers in that sale. [00:01:25][26.5] [00:01:26] Now, looking back over the past month, it looks like we've had eight final sales, one between two and three hundred and five of them in the three to four hundred thousand dollar range. And then those two sales between four and five hundred. [00:01:36][10.6] [00:01:37] Now, that's all well and good. But here's the important comparison. How does this 31 day period compare to the same 31 day period in the previous three years? So currently, including the one that's conditionally sold, we've made a total of nine sales in the 31 day period. [00:01:53][16.0] [00:01:53] Last year it was 10. So we're right on track with last year. 2018 there was only four. And we'd have to look at the weather map. I suspect that maybe we had a snow storm or some event happen that kept sales to just four sales in that 31 day period. [00:02:09][15.2] [00:02:09] And in 2017 we had 12. So currently we're right on track. COVID or no, the market in Southdale seems to be right on track with what is happening over the last few years. So what does all this mean? Well, with just seven listings available between 230 and 630 thousand dollars, Southdale is a good market right now to list your home for sale. So if you're looking to buy or sell in Southdale or anywhere else in Winnipeg, give me a shout at 204-333-2202. This has been Bo Kauffmann RE/MAX performance realty. [00:02:39][30.0] [00:02:40] And hey, if you're still with me at this point why not grab my free podcasting app for your phone available for iOS and Android devices, super easy. Just go to Winnipeg, dot tips slash Apple or slash Android. That's Winnipeg dot T I P S, slash Apple or slash Android that way you'll never miss an episode about Winnipeg, real estate or both. [00:03:02][22.1] [00:03:06] You've been listening to Bo Kauffmann of RE/MAX performance realty, are you thinking of buying or selling a house or condo in Winnipeg called Bo at 2 0 4 3 3 3 2 2 0 0 2? Remember, Bo knows real estate....

Real estate market conditions for the Bridgwater area in Winnipeg. Is now a good time to buy or sell in Bridgwater? Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) [00:00:00] Is now a good time to buy or sell in Bridgwater? Let's find out. [00:00:03][3.3] [00:00:07] You're listening to the Bo Knows Real Estate Podcast. Tips and advice for home buyers, sellers and owners with award winning Remax agent Bo Kauffmann. [00:00:17][9.9] [00:00:21] I've been producing Winnipeg real estate market updates for many years. It's a great way to see what's going on in our city, but real estate is even more local than that. Each neighborhood can have their own unique market conditions. So if you're curious about your area in Winnipeg. Email me at boknowshomes@gmail.com, And I'll create a special report just for you. So let's take a look at Bridgewater at the beginning of April 2020. [00:00:45][24.6] [00:00:46] As far as detached homes go and homes that are finished and constructed, not under construction. There's currently 112 houses for sale in Bridgwater. The majority of them are between the 400 and $700000 range. So there's 29 houses between four and five hundred and 33 between five and six hundred. And the prices go all the way up to just shy of $2 million. [00:01:09][23.0] [00:01:10] Currently, there are five homes that are under pending sales, meaning that they've got offers and they've been accepted. But the buyer just maybe hasn't gotten their financing yet. So there's five conditionally sold at this point. [00:01:21][10.8] [00:01:22] While over the last two weeks there's been two final sales, both of them in the four to five hundred thousand dollar price range and both of them sold at just under list price. So there was no multiple offers and no bidding wars in those sales. [00:01:34][12.5] [00:01:35] Looking back over the last month, including those two sales I mentioned earlier, there's have been a total of 15 sold over the last month, 8 of them in the four to five hundred thousand dollar range. 6 of those sold under last 2 sold over lists and 6 homes in the five to six hundred thousand dollar range. Again, 5 under list, 1 over list. And then the the other sale, a 15th sale was in the six to seven hundred thousand dollar price range, also sold just under list. [00:02:01][26.7] [00:02:02] But this final stat is perhaps the most important one because it's compare sales this year as opposed to the same 31 day period over the last three years. That'll tell us whether the market has changed with a crew on a virus has anything to do with that. So this year, including those five pending sales, we've sold 20 homes in that 31 day period. Last year was 28 and the year before was 31. And then in 2017, it was 23. So we are slower than each of those years. Not by much, but there is a bit of a drop right now in the Bridgewater area. [00:02:35][33.1] [00:02:35] So in summary for Bridgewater, with 112 listings available, the lowest one at 380 and the highest one just shy of $2 million. Bridgewater and South Pointe are excellent buyers markets right now. So if you're looking to buy a home in Bridgewater Trails, Forest, Lakes or South Pointe, a Prairie Pointe, give me a call 204-333-2202. [00:02:35][0.0] [144.0]

Real estate has been designated as an essential service. How do we adjust to keep our home buyers and sellers safe? Never miss an episode. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to (https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561) For your Android Devices, click here to (https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en) [00:00:00] Real estate in the era of the Coronavirus. How do we keep buyers and sellers safe? That's coming up next. [00:00:05][5.0] [00:00:09] You're listening to the Bo Knows Real Estate podcast. Tips and advice for home buyers, sellers and owners with award winning Remax agent Bo Kauffmann. [00:00:19][9.9] [00:00:22] Real estate has, at least for now, been deemed an essential service. And there's a couple of reasons for that. One of them is purely economic. There's a ton of spin off business coming as a result from every house or condo sale. Aside from taxes and legal fees and of course, real estate fees, moving costs, people buy furniture. People buy appliances. They fix up their houses when they sell and they fix up their houses after they buy. So there's a multitude of spin off benefits, economic spin off benefits from real estate. [00:00:53][31.4] [00:00:54] But the other one is that we are able to conduct business and keep buyers and sellers safe. Manageable Real Estate Association has put in place a number of safeguards and I'm going to explain those right now. In the past, it used to be able to book a showing for a house just about any time. And even if you're showing overlapped with another buyer, that was that was okay. But that's been changed now. So from here on in, you can only book one buyer at a time. So if your agent if you looking at a house, new agent books a two to three o'clock window, you'll be the only ones in the house because sellers have also been encouraged to leave the house at the time. That may not always be possible, especially if they're elderly. They may not be able to go outside depending on the weather, but in most cases, sellers will be going outside and you'll you and your agent will be the only ones in the house at that time. [00:01:44][50.3] [00:01:45] The next thing is that open houses are pretty much a thing of the past. There's no way to control the crowds sometimes. I remember having open houses in River Heights in February and there was people lined up outside to get into the house because the house was full already. So I don't believe any agents are gonna be having any open houses. It's just it's not worth the risk. Also, the Manitoba Real Estate Association has come out with a form that buyer agents and their clients must sign and fill out, indicating that nobody there who's going into the house. That's the agent or the buyers have traveled in the past 14 days, are showing symptoms or signs of the illness, have not knowingly been in touch with anybody who does have the virus. So like I said, buyer agents and their buyers have to sign these forms, which also make it tougher for buyers to see a house without an agent. Gone are the days of just pulling up in front, calling the listing agent and saying, hey, please slide down here and show me the house. [00:02:41][56.3] [00:02:42] Which is further encouragement for anybody who's looking to buy a house or a condo to hook up with a real estate agent right now and get those forms filled out to assure that you are not carrying the virus and you're safe. And that will give you easier access to the listings these days. [00:02:57][15.8] [00:02:58] In addition to these, I've personally implemented a couple of different procedures that will help protect my clients and myself. Going forward, I will not be driving buyers around in my personal car anymore. That's to protect them and myself. Buyers would have to meet me at the listings. I will also bring to each