Tag Archives: real estate

Interest rate cut should benefit real estate


Wednesday, January 21, 2015
Real estate is positioned prominently among industries likely to benefit from the Bank of Canada’s interest rate cut announced with today’s release of the quarterly Monetary Policy Report. The unexpected 0.25 per cent reduction trims the overnight interest rate to 0.75 per cent in an effort to counter major hits in the resources sector and the slide of the Canadian dollar.
“Although the interest rate cut largely reflects the deterioration of Canadian economic fundamentals due to the recent plunge in oil prices, lower interest rates are broadly supportive for values in interest-rate sensitive sectors like real estate,” observes Carl Gomez, senior vice president and chief economist with Bentall Kennedy.
Bank of Canada Governor Stephen Poloz calls the move insurance against deflation and financial instability. Meanwhile, premised on assumed oil prices of US $60 per barrel, the Monetary Policy Report forecasts the Canadian economy will strengthen in the second half of 2015 with real GDP growth averaging 2.1 per cent this year and 2.4 per cent in 2016.
“While it is true that a lower profile for interest rates may exacerbate household imbalances at the margin by encouraging more borrowing, the far more important effect will be to mitigate those imbalances by cushioning the decline in income and employment caused by lower oil prices,” Poloz said at a press conference Wednesday morning.
From an investment perspective, real estate analysts say the drop in bond yields seen immediately upon the Bank of Canada’s announcement should further solidify real estate’s status.
“Real estate cap rate spreads over bond yields had already widened recently. The bond yield has been dropping, but cap rates have held relatively firm,” says Chris Langstaff, senior vice president, research and strategy, with LaSalle Investment Management. “Now the spread has widened even more so it will just continue to make real estate look very attractive on a spread basis.”
Source: Reminetwork.com

Getting Your Home Ready to Sell

You would never dream of inviting guests to your house without making certain 999-rose -- For Salepreparations, so don’t invite potential buyers without first making the necessary updates by preparing your home to sell.  If you are like most sellers, you want to get as much as possible for your home and you want to do it as quickly as possible.
 Letting Go
After you’ve lived in a house, it becomes much more than four walls and a ceiling.  It’s a home and it has a lot of good memories.  Your first step to preparing your home to sell is to realize that you will take these memories with you wherever you go, but you won’t be taking the house.  It can be difficult to let go, but the task will be much easier if you start to think of it as a new beginning rather than an ending.
Cleaning House
An important part of getting your home ready to sell is in staging the decor for potential buyers.  When you stage a home, you create an environment that is free of any personal items, such as photos and/or anything that stands out as being customized for you or your family.  When a potential buyer walks through your home, they need to envision their belongings and decor without being distracted by yours.  While these items may be special to you, they could possibly prevent the buyer from being able to imagine their own style complimenting the home.
In addition to removing any personal items, make sure that you remove any clutter from the home.  A clean home seems larger and more inviting, whereas a lot of stuff lying around could give the impression that the home is too small or cramped for storage.  Pack up any knickknacks, remove your children’s drawings from the refrigerator and clean up your counter space in both the kitchen and bathrooms.
Staging Your Home
Now that your house is clean, it’s time to put the finishing touches on the staging process.  A solid, neutral shade in a tablecloth should be selected for the dining room table.  Depending on your decor and wall coloring, a solid white, sand or ivory covering will work well.  In the center of the table, a vase with fresh cut flowers (or silk, if you have allergies) will add a nice accent.  Did you know that the kitchen and bathroom are two of the main selling points to any home?  Keep this in mind when preparing your home for potential buyers.
The living room should have one focal point, whether it be a fireplace or breathtaking view of the outside world.  If you have too many features screaming out at potential buyers, they may feel overwhelmed, so focus on one aspect and make it shine.  If you have a mantle, line it with three candles that match your decor in color.  Place a large candle in the center with one smaller one on each end, which will be reminiscent of a perfectly matched bookend set.  A home with a stunning view should have window dressings that accent the positive, instead of hiding it.  If your furniture has a design of any kind, mask it with a solid slipcover to compliment the flooring or wall color.  Some homeowners also add a fresh coat of paint to their home, which will bring life back into a fading color.  Turn on the lights and open the blinds and draperies to create a bright and inviting environment throughout your home.
Where To Store Your Stuff 
Now that you know how important it is to remove any clutter and oversized or bulky furniture, you need to know where to put it.  If you already have a new home, you can simply move it there.  Otherwise, you can put it into storage until you are ready to move.  It’s important to leave some essentials in your former home for potential buyers to see, such as a dining room table, a sofa and chairs, bed, etc.  Any additional furnishings that seem to interrupt the flow of your home, or make it feel cramped, should be removed.  You do not want potential buyers to feel as though the house is too small.
Details, Details, Details . . .
As a final strategy to prepare your home to sell, make sure that you have any carpet stains removed, windows cleaned, fresh linens placed in the bedrooms and bathrooms, etc.  You would be surprised how many people pay attention to even the smallest of details, so be sure to fix any small repairs that could be a turnoff for buyers.  Last but not least, make sure your home looks just as good on the outside as it does on the inside.  This means that your lawn should be cared for, flower beds must be maintained and any outdoor clutter must be removed.
Source: mrmhomestaging.com

Mortgage Rates for December 16, 2014 — By Peter Paley


Peter Paley - Your Home and Mortgage Peter Paley

Bank of Canada Once again, no rate change !

Looking at Purchasing that New Home, Needing a Mortgage,

Contact Peter Paley at Invis Mortgage

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.


Posted Rates

Our Rates

























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

Prime Rate


5 yr variable


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


Starting Smart: Savvy first-time home buyers are going to brokers — From Peter Paley

Your Home & MortgageI Peter Paley

Looking at Purchasing that New Home, Needing a Mortgage,


Contact Peter Paley at Invis Mortgage

You’ve got to hand it to this younger generation. They’re internet-savvy, they do their homework, they ask questions, they look for choices… and they’re not inclined to let anyone “own” them or their business.
According to the 2014 Mortgage Consumer Study conducted by the Canadian Mortgage & Housing Corporation (CMHC), more Canadians are working with mortgage brokers than ever before. But first-time homebuyers top the charts: 48% of first-time mortgages now originate with a broker.
Why are they choosing the professional mortgage route? You could start with choice, price, information, and education.
I provide solutions from a huge range of mortgage options from a broad spectrum of lenders, including most of the major banks! Not a first-time buyer?
No problem. It’s never too late to “start smart” on your financial future!
No walls in the way here; in fact, I’ll hold the door open for 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


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

Sluggish housing market beginning to pick up after one of worst winters weather-wise

by Todd Lewys
It’s amazing what a little bit of good weather can do for people’s spirits — not to mention the local real estate market.
Whereas sales figures were at best middling even two weeks ago, a recent surge of spring-like weather has breathed some much-needed life into home sales.
The market has been sluggish, but in the last week or so, it’s really picked up,” reported REALTOR® Michael Leclerc. “The listing market is definitely becoming more active. Good homes are still selling, while ones in need of repair are taking longer to sell.
“Right now, it’s all about supply and demand. If you have a home in a much-sought after community, chances are good it will sell quickly,” added Leclerc.
“Right now, I have a listing in River Heights for $299,900 with no competition. I expect it to sell above list price.”
Fellow REALTOR® Cory Kehler said that the improving weather (recent cold front aside) — along with the expected arrival of more seasonal weather in the not-too-distant future — is the elixir the market requires to jump start activity.
“I think the buyers have been out there, but now that the weather’s getting better, sellers are getting ready to list their homes,” he said. “I’ve got a couple of people who want to list with me in early to mid-May because they want to take some time to clean up their yards and their home’s exterior before they put their home up for sale. Once people can get outside and get their homes ready, inventory should pick up, likely after the Easter weekend as the weather starts to improve.”
Like Leclerc, Kehler foresees activity in traditionally popular areas heating up as the spring progresses.
“Inventory is low in established areas such as River Heights,” he said. “Take out areas like Waverley West, which has somewhere around 100 listings right now, and other areas such as Sage Creek, and you’ll find that inventory is really, really low. Good houses in established areas are getting lots of attention, and will continue to get attention once they come to market.”
Leclerc concurred, saying: “There’s still demand for homes in areas such as River Heights, Crescentwood, St. Vital and North Kildonan just to name a few,” he said. “People are looking for turnkey homes in the $250,000 to $400,000 range. If your home is in good shape and well-presented, it will sell. Recent statistics showed that 73 per cent of all homes that sold in March were priced between $250,000 and $400,000,” Leclerc explained.
“That trend should continue, and perhaps get even stronger, as the weather gets warmer.”
Despite that, long-time REALTOR® Glen Williams said, while there may be bidding wars in some areas, balanced market conditions are still likely to prevail.
That’s also the position of WinnipegREALTORS®, as inventories of houses on the market have increased over last year.
“I think the market is going to continue to be nice and steady rather than spectacular,” Williams said. “Homes that used to take one to three weeks to sell will likely take longer to sell.
“One reason for that is banks are being more conservative, as they want buyers to have their home sold before they buy another home.”
According to Williams, tighter home appraisals could also put a bit of a damper on potential bidding wars.
“Not only that,” he said, “but bidding wars could be curbed because banks want homes to appraise properly. If someone pays $220,000 for a home and it appraises at $205,000, they won’t approve the loan because the equity isn’t there.
“That’s not to say sales won’t happen,” added Williams. “They just won’t be as crazy as they were three or four years ago. Still the market will be very, very steady, with lower-end homes being our saving grace, as they will always sell.”
Kehler said the bottom line is that after all the unseasonably cold weather, people are ready — to list, and to snap up quality listings that hit the market. “As I said, earlier, I’d anticipate that the market will take off after the Easter weekend as the weather gets better. That should spark a steady influx of listings, especially in established communities. That’s going to be great news both for the market, and for buyers.”
Resource: Winnipeg Realtor.ca

Home sellers to play waiting game

Home sellers to play waiting game

Written by  Grainne Burns


Home sellers may delay going to market as the pendulum is set to shift in their favour this spring, according to a new Royal LePage survey.


As house prices are expected to maintain a healthy momentum into the first half of 2014, market experts are anticipating a shift to a seller’s market.
“In the absence of some calamitous event or material increase in mortgage financing costs, we expect this positive momentum to characterize 2014. In fact, we expect a market tipped decidedly in favour of sellers for the first half of the year, after which we project a shift to a more balanced market,” says Phil Soper, president and chief executive of Royal LePage.
The agency says the average price of a home in Canada increased between 1.2 per cent and 3.8 per cent in the fourth quarter of 2013.
“Talk of a ‘soft landing’ for Canada’s real estate market in the new year is misguided.  We expect no landing, no slowdown, and no correction in the near-term. Conditions are ripe for as strong a market as we saw in the post-recessionary rebound of the last decade,” says Soper, adding that they do not expect the government to implement any market intervention, such as a hike in interest rates.
The survey showed year-over-year average price increases in the fourth quarter of 2013 of 3.6 per cent to $418,282 for standard two-storey homes and 3.8 per cent to $380,710 for detached bungalows, while the average price of a standard condominium rose 1.2 per cent to $246,530.
Source: Canadian real estate magazine