Winnipeg's Real Estate Blog

Want to buy a house WITHOUT a bidding war? Here is the simple secret!

Hello everyone:

Lots and Lots of buyers (and that means MANY),  are sick and tired of "Bidding Wars".  About half of the buyers I interview, tell me outright :"I dont want to have to compete for a house".

The secret to getting a house WITHOUT a bidding war is really simple:  PATIENCE.  Working with a patient agent and having some patience yourself is usually rewarded at some point.  Here is how:

Many agents like to list a house at 10 to 20K below it's value.  I know: it seems wrong, crooked, shifty.....you can put any number of labels on it, and I wont argue with you.  But its a reality in todays market.  The reason for deliberately underpricing a house is simple:  It generates "Multiple Offers"  (Bidding War), and in such, the best offers come to the forefront.  Look at it this way: If YOU are the only person to make an offer on a house, I as your REALTOR® will advise you to ask for a Home Inspection, put as little money down as possible, and get a 3-day financing clause.

Now take that same house, and we are competing against, say, 5 other offers.  Guess what happens:  The people that CAN write unconditional offers will do so, just to win the bidding process.  Gone is the Home Inspection, the financing clause, and out come the 20,000-dollar deposit cheques.  Who wins?  The home-owner, of course.

So how does patience help?  Every once in a while, a home-seller, or his agent, decide for whatever reason, to slightly overprice a house.  Buyers recognize this when it happens (if they are working with a knowledgable agent), and tend to refrain from putting in an offer right away.  So the house may end up on the market for a few weeks, and then go thru a price-reduction.  

But that initial pool of buyers have moved on, and sometimes the home-seller will find it tough to get them to come back.  So this is where the patient buyer, with his patient REALTOR® come in.

So far this year, my buyers have managed to buy a house for UNDER asking price on 10 occasions.  Thats roughtly 50% of my buyers have managed to avoid a bidding war.....pretty good odds, I would say.

Patience pays off.

So if you're looking for a house or condo, and either dont want to, or simply can not get involved in a bidding war, CALL ME.  Together we will find you a nice house or condo.

Check out my Website

Investing in Real Estate in Winnipeg

Are you interested in investing in Real Estate in Winnipeg?  Perhaps buy a rental property, hold on to it for a few years and then sell it, hopefully at a nice profit?  Here are a couple of useful tips:

First of all, there are 2 main ways to invest in real estate:  fix-n-flip houses for a quick profit, or buy and hold (while renting it out) and then sell for a profit.

I prefer to focus on the buy-and-hold method for a number of reasons, which would take a little too long to explain in this post.

I recently met a real estate investor who had come to Winnipeg and purchased some property.  His first effort was a 4-plex in a very run-down part of the city.  He soon found that the tenants were less than desirable, often skipped out on the rent, usually left a mess and sometimes even damage.

So this investor went into a complete different direction and purchased a luxury home.  Now the tenants have been great, rental payments come on time and the owner has less trouble in that department.  However he found that the luxury home did not appreciate as quickly (being already a very expensive house to begin with), and with such a large cash investment, the rent he collects, barely covers the costs.

So my suggestion is to focus on houses in between these two examples.  Not run-down dilapidated houses, and not super-luxury homes, but good, clean affordable housing in the $150,000 range.  This may be small two-story homes, or even side-by-sides, but whatever the house may be, it should be in a good area.

The benefits are that the cash outlay is not so great that the rent barely covers the costs, and these types of homes tend to appreciate the most in value.  The reason is that these 'lower priced' homes are always desirable as entry-level homes for first-time buyers.  

And THAT segment of the market is really what is driving Winnipeg's real estate boom.  So investing in those types of homes is a wise, prudent choice.

If you are interested in purchasing such a home, please contact me anytime.

Bo:  333-2202

You can also check my Website

Excellent Starter Home in Windsor Park: Sold to my clients!

My clients just bought this nice, 1075 sq ft side-by-side in Windsor Park.  3 BR's, 1-1/2 baths with a partially finished basement and a nice, fenced yard.

Best of all, we were able to find this home with no "Bidding War".

If you are looking for your first (or next) home, consider working with a REALTOR® who knows the market.  As an agent with REMAX, I can show and sell ANY home on the market, and the only thing that matters is that YOU are happy with the home or condo you select.

For valuable tips and information for buyers and sellers, go to my Website

Sold: Wonderful bungalow in Mission Gardens, Transcona

Hello everyone:

My clients and I were able to find this great (almost new) bungalow in Transcona and were able to buy it without a "bidding war".

Over 1000 sq feet with 3 BR's, 2 full baths, a beautiful, extra-deep lot backing onto green space, this was an excellent choice.

I had helped my clients sell their home on a Tuesday, and we were able to find and purchase this home the next day.

If you're ready to buy or sell  (or both),  call me anytime.  Warning:  You have to be ready to move......because once we get started, things can happen just this quickly.

For great information for buyers and sellers, go to My Website

Sold: Completely renovated Townhouse Condo in St. James

Hi everyone:

My client just purchased this wonderful townhouse condo on Ness Ave in St James.

Two story townhouse with new flooring, paint, 3 BR and 1-1/2 baths, partially finished basement, low condo fees, central air and beautifully landscaped grounds.

Two parking spots included.

An excellent first home, close to bus route and shopping.

If you are looking for a house or condo, please call me, as I may be able to help you find what you're looking for.

Check out my website, filled with information for buyers and sellers.

Go to my Website

August 2009 Winnipeg Real Estate Market Update

Hi everyone:

I have to appologize for the delay since my last posting.  The market in Winnipeg has been extremely active,.... especially for "Yours Truly".

But I have also been busy creating monthly "Market Updates" in video form.

During these 5 to 8 minute videos, I provide information on "number of homes sold", and "Number of Homes Available" in a variety of categories, including luxury homes, lower prices homes and condos.

For the August Update, go to August Market Update

In a nutshell:  Winnipeg's Market is hot:  Especially condos are in short supply, so if you are thinking of selling a condo, call me NOW.

Bo