Winnipeg's Real Estate Blog

MLS Statistics for August 2009 for Winnipeg's Real Estate Market.

Hello Everyone:

Here are the Sales and Listing Stats for August 2009 for the hot Winnipeg Real Estate Market, as compiled by Winnipeg REALTORS®.   

WINNIPEG - While MLS® sales in August fell short of last year’s mark by only 17 sales and 11 %

off the best sales month on record for August in 2005, this year’s August, based on prices in general

being slightly better in comparison to last year, recorded its best dollar volume result ever for this

month at $231 million. It also paves the way for the third consecutive year of $2 billion worth of

MLS® sales activity as year-to-date dollar volume now sits at $1.75 billion.

August 2009 also saw WinnipegREALTORS® record its 8th million dollar plus home sale which is

equal to the most sales ever sold in one year in this price range. It was an impressive newly built

home in Waverley West that sold for $1,290,000. With four months to go, there is a distinct

possibility another one or more luxury homes may sell before year end. There are currently 18

million dollar plus MLS® listings – 16 homes and 2 condominiums. The highest list price is a

Wellington Crescent home going for $2,800,000.

Talking about million dollar plus home sales, the Calgary Real Estate Board sold its first $10 million

home in August. It was the home of former NHL goaltender Mike Vernon.

Also noteworthy, is year-to-date sales activity in comparison to the same period last year is

improving and coming within a few percentage points now of WinnipegREALTORS® January

forecast. It predicted home sales would be down 5% from last year and house prices up in the low

single digits as opposed to double-digits like the past six years.

August MLS® unit sales were down 1% (1,151/1,168) while dollar volume rose 6% ($231.2

million/$218.9 million) in comparison to the same month last year. Year-to-date MLS® sales are off

8% (8,620/9,392) while dollar volume is down only 4% ($1.75 billion/$1.83 billion) in comparison to

the same period in 2008. Year-to-date active MLS® listings of 3,000 at month end are tracking very

close to last year while listings entered on the MLS® to the end of August are at 13,000, slightly

lower than 2008.

The full stats are available on my website by clicking this link:

MLS Market Stats

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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

Home-Staging with Eco-Friendly Lighting

When putting your home on the market, home staging is crucial in order to make a great first impression. By presenting your home in the best possible light, you greatly increase your chances of receiving a firm offer. There are many different approaches one can take to prepare their home for home staging. One the best new selling points to utilize in 2009 is the eco-friendly home. Environmental concerns are at an all time high in the United States and by making some simple “green” home improvements; you can market your home as environmentally friendly to help capture the attention of potential buyers.

One of the easiest ways to go green is through the use of energy efficient home lighting. By investing in lighting options that are better for the environment, you can assure people that they will be buying a home that has Mother Nature’s best interests at heart. You can start by replacing your old fashioned light bulbs with more efficient Compact Fluorescent Light bulbs or CFL for short. These distinctive swirly looking light bulbs last up to 10 times longer than standard bulbs and use roughly 25% energy. While they may cost a little more up front, they will save you money on your electric bill in the long run.

While upgrading your light bulbs is a great start, you should also consider replacing the lighting fixtures that are used most often in your home. Renowned lighting brands like Minka and Murray Feiss have done their best to earn the Energy Star seal of approval, which is only given to products that meet certain energy efficiency standards. These light fixtures range from table lamps to flood lights and everything in between. Most people are not aware that their homes can produce more emissions than their car. If every home in the United States switched out just 5 light fixtures for ones featuring the Energy Star seal, then each family would save more than $60 on their annual electric bill. That would help keep 1 trillion pounds of greenhouse gases from entering our atmosphere.

By addressing the concerns that potential buyers may have about the impact your home poses on the environment, you create yet another point in your favor over the competition. You can remind prospective buyers that they will be saving money on their utility bills whilst simultaneously helping protect the environment. When it comes to selling your home, every little bit helps and by jumping on the eco-friendly bandwagon you are placing your home one step above the competition.

Home Sellers: Not all buyers love pets.

Yes, home sellers love their pets. But many buyers can be afraid of dogs big and small, allergic to cats and turned off by lingering pet odors. It's sometimes difficult explaining to a home seller the importance of taming their pets when marketing a home. Here are some tips to help sellers keep focused on their goal - - selling their home.

What You Should Do:

Have carpets and area rugs cleaned before showing your home to potential buyers. Those allergic to animal dander and hair, even if they can't see your pet, will know when their eyes and nose start to alert them to an allergic reaction. Many will not purchase a home that poses strong allergy problems.

Clean litter boxes daily and replace litter before it's time to show the house. Urine smells permeating from litter boxes are a turn-off to home buyers.

Vacuum pet hair off carpets, rugs and furniture before every showing. No one likes to leave a home tour covered with pet hair.

Brush your pets daily to keep ahead of shedding hair.

Verify that old pet urine mishaps in carpets and under rugs on hardwood floors are gone for good.

Train pets not to jump up on strangers, furniture and countertops. It is distracting for buyers to see cats running in food preparation areas and dogs mauling quality clothing.

Clean up and buy new dog bowls before placing your home on the market. Fresh pet bowls filled with fresh food and water finish off a pristine home.

What You Shouldn't Do:

Leave pets unattended for property showings especially when you know they can be aggressive or territorial around strangers.

Take for granted that you have never seen your pet be aggressive around new people, scents, and noises. They could show a side you've never seen.

Overlook picking up dog droppings in the yard.

Underestimate how a barking dog or overly friendly cats can kill a showing. Be pro-active and take your pets off site for showings. Hire a dog walker to occupy pets if you can't be home.

Forget to groom your animals more regularly when your home is for sale. Dog breath and wet dog hair aren't becoming to buyers, even if they love dogs.

Leave chewed window sills and door frames in that condition. It's hard for buyers to get past this type of property damage. Especially if you have young children in the house.

Consult with your real estate agent if you have uncommon pets such as reptiles, spiders, and talking birds. Believe it or not these can cause more anguish to those not accustomed to being around them. 


Written by Mark Nash

  

This article has been re-published from my Electronic Newsletter titled "Real Estate Update".  For a complete look at my newsletter, go to http://realtytimes.com/c/bokauffmann 

How to choose a Listing Agent for your home!

Home-owners sometimes interview 2 or 3 REALTORS before choosing one to list their home.

This video explains the main criteria by which to choose the REALTOR who is right for you. Hint: "How much is my Home worth", is a valid question, but NOT a great criteria by which to choose your Listing Agent.

Great information for anyone thinking of selling or listing their house or condo in Winnipeg.

Be sure to visit my website at www.WinnipegHomeFinder.com. 

Also, read the blog at www.rivercityrealestateblog.com

Catch me on Twitter at  www.twitter.com/bokauffmann

HomeSeller Question #1: Full-Price Offer

Winnipeg Home Seller asks the question: "If I list with a REALTOR and get a full-price offer, am I obligated to accept that offer?"

This video explains the answer, and is aimed at anyone thinking of selling their home or condo in Winnipeg.

Be sure to visit my website at www.WinnipegHomeFinder.com. 

Also, read the blog at www.rivercityrealestateblog.com

Catch me on Twitter at  www.twitter.com/bokauffmann

Episode 15: Home Improvement Tips and Market Update

In a more level market, homeowners need to compete for buyers. To do so, your home needs to show its best side. Here are some home improvement suggestions which provide the most 'bang for your buck', and help bring top-dollar for your home.

For a look at my website, go to http://www.winnipeghomefinder.com

My monthly newsletter is at http://realtytimes.com/c/bokauffmann

Catch me on Twitter at http://twitter.com/bokauffmann

Home Sellers: Improve your home's appeal to stand out from the competition!

After years of hearing from successful sellers that they didn't have to do a thing to sell, they now need to understand how they can stand out from their competition. Here is a handy list to help sellers determine if some features in their home might need some attention.

Test all door and cabinet knobs. Replace mismatched or inexpensive hardware for a quick update. Buyers rarely can get beyond a knob that comes off in their hand as they attempt to use a door.

Take the time to paint walls, trim and ceilings. Keep adjoining rooms in one color palette, which will make your home appear larger. Clean up spills from messy painters. Hire professionals to paint mullions on windows and staircase spindles.

Slipcover mismatched furniture in a room that requires visual unification.

Discover ways to organize day-to-day room needs. Substantial wicker baskets or square stainless steel or brass containers can organize magazines, remote controls and toys. Books provide a good look, but vary them by laying some down and standing some up.

Wallpaper is considered fill-in-the-blank decorating. No two people have the same taste in this instant decorator wannabee. If it's more than three years old, take it down and paint in a neutral color. And wallpaper borders are out.

Simple furniture rearrangement can bring new life to a tired space. Float sofas and coffee tables away from walls for a designer look. Use area rugs to anchor furniture groupings on bare tile and wood floors. Place groupings of candles and clear glass bowls filled with natural potpourri, fresh fruit or glass crystals on side and coffee tables.

Make sure there is balanced lighting in every room for dusk and evening showings. Dimmers help set the right tone.

Polish and wax hardwood floors to brighten and blend an old finish.

Clean every surface until it shimmers and shines. Clean can seal a deal. Don't forget the windows.

Purchase the best quality carpet pad which can make any new carpeting "cushy," and home buyers love cushy. Stay away from shag styles; buyers know it won't be around long in style cycles.

Streamline window fashions. Heavy drapes are in the minority. Think "let the light shine in" when placing blinds and shades. Light and bright can overcome other issues with a home.

Freshen-up closets with closet organizers to maximize storage space and paint a neutral, washable color. Make sure buyers can see the back of all closets and cupboards. Lighting is an often overlooked feature in closets, but buyers will always turn on lights when viewing a closet, big or small. Thinning closets, cabinets, basements, attics and garages will also help your storage spaces look larger. If you can't part with items, rent a storage locker to hold items for decision making later.

Don't forget the basement; dark, dirty and musty basements are a turn-off to buyers. Add extra lighting, paint the floor and vacuum out all the cobwebs. Organize storage areas and take the time to clean the washing machine and dryer. To spruce up the hot water heater and furnace, wipe down with a strong cleaner. Scrub the laundry tub and sweep left-over leaves out of exterior stairs and window wells. Run a dehumidifier to reduce basement moisture.

Take a good look from the street or road at the front of your home. Look for shrubs that are overgrown or dead and remove and replace them with shrubs or plants that are to scaled to your home. Small inexpensive bushes send the wrong message.

Limit yard ornaments to a favored few. Excess ornaments can make yards look busy and buyers might want them included in a purchase contract.

Paint and refresh yard lights, flagpoles, mailboxes, window boxes, fences and trellis. Don't forget the swing set or play equipment.

Replace broken bricks on terraces, cracked concrete patios and steps.

Restore screens on porches and lanai's. Dirty, rusty and ripped screens limit functionality to homebuyers.

Don't leave pets unattended for property showings, especially if you think they could be aggressive or territorial around strangers.

Have carpets and area rugs cleaned before showing your home to potential buyers. Those allergic to animal dander and hair, even if they can't see your pet will know when their eyes and nose start to alert them to an allergic reaction. Many will not purchase a home that poses strong allergy issues.

A barking dog or overly-friendly cats can kill a showing. Be pro-active and take your pets off site for showings. Hire a dog walker to occupy pets if you can't be home. 


Written by Mark Nash

  

This article is republished from my Electronic Newsletter titled "Real Estate Update".  For a complete look at the newsletter, click here:Newsletter

Episode 14: How Bidding Wars are Created, Market Update

Bidding Wars dont happen by accident.....they are created. Main ingredients: A nice home, a fair price and lots of marketing and advertising. This podcast explains the process.

Be sure to visit my website at www.winnipeghomefinder.comor listen to my podcast at www.rivercitypodcast.com

Repairs & Renovations that help sell your Home!

Hello Everyone:

 

One of the most common questions I receive from home-owners is: "What should I fix, repair or replace BEFORE putting the house up for sale?"

In my monthly E-Newsletter there is a very interesting article on this subject.  Phoebe Chongchua discussed the list of items that should be repaired and return the best "ROI", or "Return-On-Investment".

 

The top three items are:

1)  Clean and Declutter  (578% ROI)

2)  Landscaping improvements (415% ROI)

3)  Home Staging (340% ROI)

 

Other important fix-ups include repairs to plumbing and electrical, replacing of carpets, painting inside and outside walls, and updating kitchens and bathrooms.

 

For the complete article, click on Which Home Repairs Help Sell My Home

For a copy of the current issue newsletter, go to http://www.realtytimes.com/c/bokauffmann