Tag Archives: 999rose.ca

How to update your home without breaking the bank

Like most people out there; I get bored with my home decorating look. But also like most people these days, I don’t want to overspend on redecorating my house every time I want to keep up with the trends. Here are some great tips on how you can update your home décor without breaking the bank!
 
* Get educated. In order to know how to give your home some modern appeal, you need to know what’s in style! Spend an afternoon browsing on Pinterest or Houzz, look through magazines, perusing design shops and checking out a few decorating shows on the tube. Make a note of the trends that appeal to you. Me? Love the rustic look of barn wood.

Barnwood

* Lighten up! Lighting is a great way to bring a room into a new design age. Modern lighting is embracing a more contemporary design, including great drum and barrel shades. Switching out for new shades is a fast way to create a new style.

Lampshade

* Change your color. Spend some time online checking out the popular designer’s “Tried and True” or “Classic” paint colors. I love white and neutrals but warm grays, mocha browns, lime greens, aqua and even smoky purples are huge.

Neutral

* Fabrics and Linens. So, you’ve noticed your rooms just don’t have the oomph you see in the catalogues. Try updating your fabric accessories using modern, simple prints and fresh colors. Many modern print are a simple classic design, but with a stylized vision mixing white and one color.

Fabrics

* Declutter. We all love our things. The trick to a modern look is to keep the room totally uncluttered. New arrangements with furniture and accessories can be just what your room needs to go from boring to modern hot!

Declutter

*Fix Anything that is Broken or Worn out. Got a cracked ceiling? A torn screen door? A good rule of thumb is, if it’s there and in disrepair, you need to fix it. Also, a fresh coat of paint on your siding, re-staining your deck or power-washing your patio will liven up the outside.

Deck

*All pictures sourced from Pinterest

Needing helping contact Mortgage Broker Lisa Gryba

Source: LISA GRYBA INFORMATION

10 Things You Need to Know About Appraisals

Appraisals are a valuable part of the real estate transaction and they are different than a market valuation provided by a real estate professional.
 

  1. What is an appraisal?

 
An appraisal is an unbiased estimate of what a buyer might expect to pay (or a seller to receive) for a parcel of real estate. It is basically an analysis of sold properties around your area to determine the value of your home right now. Most lenders will accept an appraisal if it is done within the last 30 days. Appraisals are also used frequently in mortgage refinances to determine the homes current value as this will impact the maximum mortgage amount you can access as you can refinance to a maximum 80% of your appraised value.
 

  1. What do appraisers do?

 
An appraiser is the professional with recognized accreditation who will provide an educated opinion on quality, value and utility (use) of a specific property. They use their experience and knowledge of the local real estate market to arrive at a fair market value.
 

  1. How are appraisers qualified to make valuation decisions?

 
Appraisers must complete a university or correspondence course in order to obtain an appraisal designation. These courses can take up to 4 years to complete.

Appraisers, like mortgage brokers, must comply with rules set out by an associated governing body. Appraisers are governed by one of three professional associations: the Appraisal Institute of Canada (AIC); the Canadian National Association of Real Estate Appraisers (CNAREA); and Ordre des Evaluateurs Agrees du Quebec (OEAQ). The function of these associations is to provide professional standards and educational requirements that appraisers must meet and maintain in order to be in good standing.
 

  1. Where does an appraiser get the information used to estimate home equity value?

 
One of the Appraiser’s main roles is to gather information that aids in determining the current value of a property. There are basically 2 types of data they are looking for, specific or general.

Information specific to the property is gathered from the property itself- location, condition, amenities and size. This information is collected when the appraiser views your property.

General Information is gathered from a number of sources and this data is used to compare to your homes data. Some sources appraisers use include, but is not limited to:

-The local MLS data on current listings and recently sold homes that might be used as comparable sales and provide a sense of what the market is paying for similar homes in your neighbourhood;

-Tax records and other public documents for verification of actual sale prices in a market; and

-In addition and most importantly, the appraiser leverages general data from his/her past experiences creating appraisals for other properties in the same market.
 

  1. Who actually owns the appraisal report?

 
My favorite question; the appraisal report is owned by the financial institution, which is the institution that requests the appraisal report. While the borrower may pay for the report, the lender retains the right to use the appraisal report or any information contained within. If the appraisal report is not addressed to the lender requesting it, you could be charged for the appraiser to generate a letter of transmittal allowing your potential lender to use the report.
 

  1. What should I have available for the appraiser when they come?

 
If available, please have the following documents ready:

  • Recent Property Tax Assessment Bill
  • A survey of your property; and
  • If renovations have been completed, a list of renos and costs to complete them

 

  1. What are the steps of the appraisal process?

 
> Setting the appointment: Expect a call from the appraiser within 24 hours to set up a time to inspect your property. Usually your mortgage professional orders the report and provides the appraiser with your contact information to arrange payment for the report.
 
> Property inspection: The inspection of the property should take approximately 15 to 20 minutes to do. At the inspection, the appraiser will ask questions regarding the property such as its age, recent updates and perhaps age of the roof. In most cases, the appraiser will be required to take photos of the interior and exterior of your home as well as your neighbourhood.
 
>Completing the report: Once the appraiser returns to their office, data collection regarding the subject property continues. The appraiser will do an extensive review of MLS information in an effort to find the most appropriate comparable sales to establish market value. They will also collect other information in order to make any adjustments to the value, for example, if your house has a double garage and one of the comparable properties only has a single garage. Once all the information regarding the subject property and the most appropriate comparables is obtained, the appraiser reconciles the information in their report to arrive at a well reasoned final value of your property.
 
>The final report: Once complete, the appraiser will send a copy of the report to your lender as per their request. You may or may not receive a copy of your appraisal report, talk to your Mortgage Professional to find out.
 

  1. When are appraisals required?

 
A Lender can technically request an appraisal no matter what type of mortgage financing you’re looking for. Based on my experience, lenders almost always request an appraisal in the following scenarios;

– Private Sale (when property you’re purchasing is not MLS listed)

– Family-to- Family sale/purchase

Refinances

Rent-to-Owns

– Purchases with a 20% downpayment or higher
 

  1. Are there alternatives to obtaining an appraisal?

 
Some lenders will use an “Automated Valuation System” to determine the property value in lieu of an appraisal, though not all lenders offer this service. This is commonly used when transferring your mortgage at renewal to a new Lender.
 

  1. How much do appraisals cost?

 
Residential appraisals can range from $325 and higher depending on the location and type of property. Commercial appraisals are much more detailed and cost much more.

As always, the Mortgagegirl is here to answer any mortgage questions you may have or, we can always refer you to one of our trusted appraisers. Call 780.433.8412 or email info@mortgagegirl.ca. Stay in the loop by following on Twitter @mortgagegirlca
 
Source: Jackie Woodward Mortgage Broker
 
Message from Realtor Rosalie Drysdale

If you are living in the Edmonton Alberta Area , needing to refinance or needing a new mortgage for your home, Contact Jackie Woodward to help you get the best rate for your needs.

Understanding pre-approvals

By WM
 
Before you peruse online house listings or start viewing homes with a Realtor, it’s crucial to know what you can afford. While simple calculations can be done to determine what price range you should be shopping in, most Realtors and loans officers will encourage you get pre-approved for a mortgage loan by a lender.
 
What is a pre-approval?
 
If you’ve saved for your down payment and you’re looking to buy in the next three to six months, it’s time to get pre-approved.
 
“You should get pre-approved even before you meet with a Realtor and before you start looking at homes, so you start setting realistic expectations upfront in terms of affordability and you don’t get caught up looking at houses that you love but can’t afford,” says Bernice Dunsby, senior manager of home equity financing with Royal Bank of Canada.
 
In addition, getting pre-approved will allow you to act quickly once you do find your perfect home and it may give you more confidence when placing an offer.
 
When you are pre-approved for a mortgage loan, you’re beginning the application process for the mortgage. To provide you with a pre-approval, a lender reviews your income, the source of your down payment, your assets and liabilities, and inspects your credit report to determine your credit worthiness.
 
According to BMO First Home Essentials, Royal Bank of Canada, you (and other applicants, if applicable) will need to provide information this information:
 

  •  Photo identification
  • A record of employment such as a T-4 slip or a personal income tax return (if you are self-employed at least two years of personal income tax returns and financial statements)
  • A letter from your employer stating length of employment and current salary
  • The account numbers and locations of your bank accounts and investments
  • Confirmation of your down payment (if it’s a gift, you need to provide a letter from the gift-giver stating the money does not need to be paid back)
  • Details of assets, such as vehicles, investments, etc.
  • Details of liabilities, such as credit card balances, car loans, student loans, or lines of credit, co-signed or guaranteed loans, or any other monthly obligation you may be paying on an ongoing basis at the time of application
  • Name, address, telephone number of your solicitor/notary

 
After examining these criteria, the lender will determine the maximum amount you qualify for, and supply you a letter of pre-approval, which often guarantees an interest rate for 60 to 120 days. That letter is a commitment, subject to conditions, to loan you money.
 
It’s important to note that the amount is usually at the high end of what you could qualify for. It doesn’t necessarily mean you should search for a house that is listed at that exact price.
 
“Just because you’re pre-approved for a $600,000 mortgage, doesn’t mean you’re going to go out and try and find a $600,000 home,” says Dunsby. “You might be more comfortable, based on your spending habits and your current budget and anticipated increased expenses, looking at something in the $400,000-range.”
 
While being pre-approved doesn’t guarantee your mortgage application will be accepted on a specific property, it does speed up the process and may guarantee you a rate on a fixed mortgage for a specified time period. If rates fall, you’re still guaranteed the lowest rate available on a fixed mortgage during the guaranteed rate period.
 
However, guaranteed rates are not always provided with pre-approvals, since not all lenders provide a pre-approval product.
 

Are you looking to buy a home or invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

 
Not all created equal
 
While the pre-approval process is intended to give you peace of mind during your home search that when you find that home you will be able to pay for it, sometimes what you’re getting is a pre-qualification. It sounds similar, but it’s very different.
 
In a pre-qualification, a mortgage specialist will discuss what you may or may not be able to afford based on your current income and savings potential. In this instance, your financial information does not need to be verified and there is no credit application.
 
“We arrive at a ballpark figure, so you have an idea of what you could spend on a home,” says Dunsby, adding a pre-qualification can be done either face-to-face or over the phone.
 
“There’s so much that can go wrong with pre-qualifying,” says Marty Coubrough, president and owner of VERICO One-Link Mortgage & Financial in Winnipeg. “Even at the bank level, somebody looking to purchase a home will assume the bank is going to do their due diligence, and that they’re completely qualified, and the lender reps will give them the green light to go buy a house. The buyers don’t know there’s a problem until they put in an offer on the house, the offer’s accepted and the lender finds out a financing procedure wasn’t done until this far along in the process, and the buyers can’t get the house.”
 
“Pre-qualification is just a discussion,” says Paul Gazzola, a mortgage planner with Mortgage Architects in Guelph. “I’ve seen a lot of situations where the customer says they’ve been pre-approved at the bank but really they’ve been pre-qualified and when they go to do their credit bureau, there are all these debts they didn’t mention that now jeopardize their pre-approval limits,” he says, and adds he sees this scenario happen at least two or three times a month because some banks only offer pre-qualifications as opposed to pre-approvals.
 
Part of the problem is that some lenders, including banks, no longer do full pre-approvals, says Victoria-based Greg Stanley, CEO and president of Home n Work Mortgages. After some lenders found out they were “getting shopped” as Stanley puts it, meaning buyers were getting pre-approved with them, but not following through with the loan, they decided it was no longer worth the time and expense to do it, he says.
 
“It’s a misuse of the word ‘pre-approval,’ by Realtors and brokers,” says Harold Kennedy, president and CEO of MorCan Financial in Toronto. “That’s what’s caused the buyer’s understanding of what they’re receiving to change.”
 
It seems ‘pre-approval’ has become a catch-all term for both pre-qualifications, based for the most part on unverified financial information, and true pre-approvals, which are based on verified financial information, where a credit check is done.
 
While pre-approvals are always subject to conditions, if you verify your financial information upfront, you’re that much closer to getting the loan, once the property you intend to purchase has been appraised by your lender and your credit history checked once more.
 
Some brokers, such as Stanley, shy away from getting a full pre-approval from a lender as some brokers will not want to flood busy lenders with pre-approval requests when they may not use one of the lender’s products.
 
“The lenders that have extremely low rates, they’re flooded with deals,” he says. “So the last thing they’re going to want to do is waste their time on something that may not come through.”
Stanley says that because pre-approvals are loaded with conditions, it shouldn’t matter if you have a pre-qualification or a pre-approval, as long as you keep the “conditional on financing” clause in your offer to purchase.
 
Dunsby says there is a place for both in the industry, depending on where you are in the home-buying process. If you’re thinking of buying in a year’s time, and you don’t have your down payment saved but just want to get a general idea of what you could afford based on your current income, than a pre-qualification may be an appropriate choice for you, he says.
 
“I would caution that in this type of marketplace, a pre-qualification really doesn’t stand for much,” says Dunsby. “The pre-approval is really where you’re taking that next step and starting the application process.”
To ensure you’re getting what you want, ask.
 
Provide documentation, request a full credit report, and see that the lender provides a certificate of pre-approval with a written commitment from the lender.
If you provide everything upfront, you should only need to worry about the value of the property, once you’ve put in an offer to purchase, says Coubrough.
 
Final approval process
 
If you’ve been pre-approved and your financial condition has not changed, the final approval process should be painless.
 
However, acquiring new debt since your pre-approval will jeopardize your ability to get the loan. Similarly, if at the time you applied you were employed and have since lost your job, your lender will have to re-do your application based on two people and determine whether or not you’ll still be granted a loan based on one source of income.
 
You’ll be asked to provide the offer to purchase and/or MLS listing with photo with the mortgage loan application to be submitted to your lender.
 
In all cases, the lender will have an appraiser conduct a home appraisal on the property you wish to purchase to ensure you didn’t overpay for the home. The property also has to meet Canada Mortgage and Housing Corporation (CMHC) or Genworth’s approval to have your mortgage insured should you have less than 20 per cent down payment.
Options
 
Should you encounter that you find a home, put in an offer which is accepted and cannot secure financing, don’t fret – there are options.
 
If your monthly debt obligation increased because you acquired debt, and you had originally selected an amortization period of 25 years, extending the amortization period to 35 years might bring your monthly debt obligation down to an amount you can afford, says Dunsby.
 
If you were anticipating a 20 per cent down payment and now only have 10, instead of losing the loan, you may get mortgage insurance, which will increase your monthly payment but not prevent you from getting the loan.
 
“If you were turned down because of the home, that may help you negotiate with the seller to get the price lowered or get something repaired,” says Gazzola.
 
In addition, if you get your house appraised, and it turns out you paid more for it than it was worth, you can appeal what CMHC or Genworth comes back with as a value. At your expense, you can hire another appraiser and hope that he or she determines you paid a fair price for the home.
 
Whether you receive a firm pre-approval or an unverified pre-qualification, nothing is written in stone and pre-approvals are always subject to conditions. But Realtors and mortgage professions will agree, it’s important to know what you can or cannot afford before you put in an offer.
 
Hot Tip!
 
The pre-approval process includes a review of your credit worthiness. Here are some tips that will help you maintain a good credit rating:

  • Make all loan payments and at least the minimum credit card payments on time
  • Pay your utility bills on time and in full every month
  • If you’ve never borrowed before, speak to your bank about applying for a credit card or an RRSP loan to help you build credit

Are you looking to buy a home or invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
 
Source: WhichMortgage.ca

Message from Realtor Rosalie Drysdale

Coming to the end of your term with your mortgage, needing to resign for the next five years. Contact one of the Mortgage Brokers from my website
 
http://999-rose.ca/wp/services/financial/
 
Contact one of the Mortgage Professional below to help you with the progress and let the Mortgage Broker know who referred there services to them.

 

Mortgage Rates for March 30, 2015 — By Peter Paley

                                            
Peter Paley - Your Home and Mortgage Peter Paley

Come visit Realtor Rosalie Drysdale Website each week for my weekly Mortgage Rates.

Whether you are looking to purchase, refinance, or renew, we can help you decide whether a fixed or variable-rate mortgage will work best for your situation. Call today!

At Invis, we are always aware of the current environment and resulting implications, so at any time we can recommend a mortgage that gives you an edge and meets your current needs and future goals.

We regularly receive short-term rate promotions that are not posted online, which means our rates change frequently. Please contact us for these unpublished rate specials.

Terms

Posted Rates

Our Rates

6 MONTHS

3.14%

3.10%

1 YEAR

2.99%

2.69%

2 YEARS

2.94%

2.24%

3 YEARS

3.44%

2.44%

4 YEARS

3.94%

2.54%

5 YEARS

4.79%

2.73%

7 YEARS

6.04%

3.39%

10 YEARS

6.50%

3.84%

Rates are subject to change without notice. OAC E&OE

Prime Rate

2.85%

5 yr variable

2.20%

Looking at Purchasing that New Home, Needing a Mortgage,

Whatever your need is today – first or next home, renewal, refinance, renovation financing, equity take out, business–for-self mortgage, investing in property or a second/vacation home, contact us for a review of your situation, and the advice you need to achieve your homeownership dreams. After all, the right mortgage can build your wealth and save you thousands of dollars

Every single day we’re making homeowner dreams come true. And we’re here to help you.

Contact Peter Paley at Invis Mortgage

 

Peter Paley Mortgage Associate Send an EmailVisit Website

 

One Bedroom Condo at 207 Academy Road

Unit C - 207 Academy Road 045

See and buy. PERFECT for live in owner or revenue property. Vendor will sell fully furnished. Excellent cozy space. Beautifully decorated. Open spaces with newer windows throughout. Gorgeous Hardwood flooring and newer carpeting. Dormer window in Living Room /Dining Room space.

Unit C - 207 Academy Road 020Unit C - 207 Academy Road 010

All appliances incl. Insuite portable A/C also included. Newer kitchen and bathroom. Charm and Style all in one fabulous condo.

Unit C - 207 Academy Road 023 Unit C - 207 Academy Road 028

Unit C - 207 Academy Road 003 Unit C - 207 Academy Road 002

More information and pictures about this Cond by clicking on this link: 999-rose.ca

Wanting to view this Home, Contact Realtor Rosalie Drysdale at 204.999.7673 or email Rosalie through her Contact Page.

Unit C - 207 Academy Road 042

Mortgage Rates for March 9, 2015 — By Peter Paley

                                             
Peter Paley - Your Home and Mortgage Peter Paley

Come visit Realtor Rosalie Drysdale Website each week for my weekly Mortgage Rates.

Whether you are looking to purchase, refinance, or renew, we can help you decide whether a fixed or variable-rate mortgage will work best for your situation. Call today!

At Invis, we are always aware of the current environment and resulting implications, so at any time we can recommend a mortgage that gives you an edge and meets your current needs and future goals.

We regularly receive short-term rate promotions that are not posted online, which means our rates change frequently. Please contact us for these unpublished rate specials.

Terms

Posted Rates

Our Rates

6 MONTHS

3.14%

3.10%

1 YEAR

2.99%

2.69%

2 YEARS

2.94%

2.34%

3 YEARS

3.44%

2.49%

4 YEARS

3.94%

2.59%

5 YEARS

4.79%

2.74%

7 YEARS

6.04%

3.39%

10 YEARS

6.50%

3.84%

Rates are subject to change without notice. OAC E&OE

Prime Rate

2.85%

5 yr variable

2.20%

Looking at Purchasing that New Home, Needing a Mortgage,

Whatever your need is today – first or next home, renewal, refinance, renovation financing, equity take out, business–for-self mortgage, investing in property or a second/vacation home, contact us for a review of your situation, and the advice you need to achieve your homeownership dreams. After all, the right mortgage can build your wealth and save you thousands of dollars

Every single day we’re making homeowner dreams come true. And we’re here to help you.

Contact Peter Paley at Invis Mortgage

 

Peter Paley Mortgage Associate Send an EmailVisit Website

 

Sunday February 15, 2015, We have a Open House at 39 Chimo Place from 2 to 4 pm

Sunday February 15, 2015, Realtor Rosalie Drysdale has a               Open House at 39 Chimo Place from 2 to 4 pm

39 Chimo Place39 Chimo Place 008

RARE STYLISH 5 BDR FAMILY HOME. 1900 sq ft spacious bi-level on 5 acres treed land. 5 min drive from Perimeter and Birds Hill Park on quiet street off Hwy 59. Renovated throughout including newly remodeled kitchen with granite counter-tops & new LG fridge (2015)

39 Chimo Place 6 39 Chimo Place 5

Tons of natural light throughout. Architecturally innovative with soaring vaulted ceilings and added interior design details. 3 decks off front and back. 3 full bathrooms including ensuite off master bedroom. Horizontal blinds throughout. Wood-burning fireplace. Tons of storage.

39 Chimo Place 139 Chimo Place 4

39 Chimo Place 2 39 Chimo Place 3

Come and View this outstanding Five Acre Property, 5 min drive from Perimeter and Birds Hill Park

IMGP3641 39 Chimo Place 006

For more information link over to our active listing for more pictures and property information

Property information for 39 Chimo Place

Download our PDF Feature Sheet for 39 Chimo

Ready to purchase this Home and Needing a Mortgage

Daryl Harris Mortgage Broker

 

Mortgage Rates for January 6, 2015 — By Peter Paley

                                          

Peter Paley - Your Home and Mortgage Peter Paley

Happy New Year 2015  to everyone. If you are in the market for a new mortgage, needing help on getting the best rate for your needs, Look no forward then to the Peter Paley Mortgage Team.

Looking at Purchasing that New Home, Needing a Mortgage,

Contact Peter Paley at Invis Mortgage

Come visit Realtor Rosalie Drysdale Website each week for my weekly Mortgage Rates.

Whether you are looking to purchase, refinance, or renew, we can help you decide whether a fixed or variable-rate mortgage will work best for your situation. Call today!

At Invis, we are always aware of the current environment and resulting implications, so at any time we can recommend a mortgage that gives you an edge and meets your current needs and future goals.

We regularly receive short-term rate promotions that are not posted online, which means our rates change frequently. Please contact us for these unpublished rate specials.

Terms

Posted Rates

Our Rates

6 MONTHS

3.14%

3.10%

1 YEAR

2.99%

2.69%

2 YEARS

2.94%

2.59%

3 YEARS

3.44%

2.69%

4 YEARS

3.94%

2.87%

5 YEARS

4.79%

2.94%

7 YEARS

6.04%

3.79%

10 YEARS

6.50%

4.39%

Rates are subject to change without notice. OAC E&OE

Prime Rate

3.00%

5 yr variable

2.40%

Whatever your need is today – first or next home, renewal, refinance, renovation financing, equity take out, business–for-self mortgage, investing in property or a second/vacation home, contact us for a review of your situation, and the advice you need to achieve your homeownership dreams. After all, the right mortgage can build your wealth and save you thousands of dollars

Every single day we’re making homeowner dreams come true. And we’re here to help you.

 

Peter Paley Mortgage Associate Send an EmailVisit Website

 

For sale signs popping up across the city, so it’s a good time to buy a home

WinnipegRealEstateNews

For sale signs popping up across the city, so it’s a good time to buy a home

If your wish list for Christmas includes a new home, it’s definitely the right time of year to jump into the market, according to new statistics released by the WinnipegREALTORS®.
 
For sale signs have been continually popping up across Winnipeg and the surrounding municipalities.
“There is clearly a window of opportunity for home buyers,” said the association’s president David Powell, “since so many properties are now available on the market.
 
“Let’s not forget how favourable interest rates remain with Bank of Canada governor Stephen Poloz keeping the benchmark overnight rate at one per cent.”
The statistical report indicted that there were 4,000 MLS® listings available as of the end of November.
Peter Squire, the market analyst for WinnipegREALTORS®, said this year has been extremely active for MLS® listings with a 20 per cent gain over 2013.
Furthermore, new listings on the market climbed six per cent last month when compared to the same month last year, he added.
 
“Based on the average number of listings remaining for sale at the end of November over the last 10 years,” said Squire, “there are approximately 1,500 more MLS® listings available for sale this December.”
 
Squire said the increased number of listings has created buyers’ market conditions.
An indication of such a marketplace is that only 12 per cent of all residential-detached sales in November sold for above list price, while 80 per cent sold for below list price.
 
In the case of condominiums, 14 per cent went for above list price, while 72 per cent sold for below list price.
“Supply is still carrying the day — over 22,000 MLS® listings have been entered this year — with demand lagging somewhat behind,” he commented.
“Buyers now have more choice to find the perfect home before year-end,” said Powell.
 
But he cautioned that not all MLS® areas in Winnipeg have an excess inventory.
“A prime example is Windsor Park where there were only three active residential-detached listings at the end of November after nine sales in the last month,” said Powell.
 
“Fort Richmond mirrored Windsor Park with only three active listings going into December and 10 sales during November.”
November MLS® sales were right around the 10-year average of 828 units sold.
MLS® sales during November were down less than four per cent when compared to November 2013, and year-to-date sales are less than one per cent off the pace for the same period in 2013.
“Year-end MLS® are likely to finish the year as the fifth best on record,” predicted Squire, “while MLS® dollar volume will once again reach a new all-time record high of close to $3.4 billion in total sales.”
 
The statistical report indicated that condominium sales rebounded in November, with an increase over the same month last year of 19 per cent.
It was reported that the highest price obtained for a condo in the 111-year history of the association was achieved last month. The condo on Wellington Crescent sold for $1.75 million.
The previous high was in 2009 when a condo sold for $1.5 million.
 
Most of the condo sales this year have been in Osborne Village, while other areas showing strength have been the downtown, Tuxedo and the large MLS® area encompassing Royalwood, Island Lakes and Southland Park.
 
On the other hand, residential-detached sales were down five per cent when compared to the same month last year.
 
“When you examine the different quadrants of Winnipeg and the outlying rural municipalities,” said Squire, “rural residential-detached homes led the way with nearly one-in-four sales, and the southwest quadrant of Winnipeg was second with 20 per cent, or one-in-five sales.”
 
Overall MLS® sales — all property types — in November decreased by less than four per cent and dollar volume was down less than one per cent in comparison to the same month in 2013.
 
Year-to-date dollar volume by the end of last month was up nearly three per cent to $3.26 billion.
“Consult a REALTOR® for the best advice on current market conditions,” advised Powell.

Source: WinnipegRealEstateNews

 

This Article was in the Winnipeg Real Estate News as of December 5,2014