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Make Your Real Estate Dreams Come True!

REDEFINING SERVICE IN REAL ESTATE

Selling a home in today’s market can be challenging. I understand that. While the market can be challenging, hundreds of homes are sold each week in Winnipeg. What’s the difference between selling your home or failing to do so? The Details! Whether it’s my proven sales approach, effective marketing campaigns, or utilizing my extensive network, no detail is overlooked. I pride myself in the use of technology and innovation to maximize the exposure of your home.

When I say I am “redefining service in real estate,” I mean it! My clients come first. I will educate you on what needs to be done to have a successful sale of your home. There are many components to a successful real estate transaction, You can count on me to be there every step of the process and make sure no detail is overlooked. With a proven track record, the right skill set, and years of experience, I have the right tools to successfully sell your home. If you’re serious about selling your home, I am serious about getting the job done!

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April regains some lost momentum in 2018

http://www.winnipegrealtors.ca/Resources/PressRelease?fileID=494

Reused by permission of the Real Estate News

WINNIPEG  –  April sales began to take off like our Winnipeg Jets.  Sales of 1,283 were more spring-like in numbers as only down 1% from last April and up nearly 2% over the 10-year average for this month.  New listings of 2,621 in April increased 7% from the same month last year while the existing inventory at month end of 4,550 was up nearly 4% over 2017.

MLS® dollar volume of nearly $390 million just edged out last year’s total. Year-to-date dollar volume climbed over $1 billion and is less than 5% off last year’s first four month total dollar volume. Year-to-date sales of 3,511 are down 6% from the same period in 2017.

April’s average residential-detached sales price was just under $330,000, a modest increase over April 2017. Helping elevate this average sales price was a home in East Fort Garry which sold above list price for $2.6 million and three other million dollar plus home sales in the Waverley West MLS® area.

The April condominium average sales price of $236,027 was down slightly from April 2017. Condo sales of 165 were ahead of last April’s total by 5%. The highest percentage increase of all MLS® property type sales in April was duplexes at 50%.

“Clearly market activity picked up in April to show once again how resilient the Winnipeg Metropolitan Region can be in the face of some adversity with new mortgage qualification rules in place as well as higher mortgage rates,” said Chris Dudeck, president of WinnipegREALTORS®. “A real enduring strength of our local market in the last few years has been its affordable prices with different options to choose from given overall balanced market conditions.”

A true test of this year’s return to more seasonal sales activity will be this month as last May had the highest monthly sales ever at just under 1,700 sales. Can it be a jet-fuelled month? Only time will tell but there are positive signs as a result of solid market metrics in April.

While there are more listings on the market going into May than there were last year this does not mean they are all evenly distributed amongst varying property types and areas within the Winnipeg Metropolitan Region.  Residential-detached listings of nearly 2,400 lean towards tighter market conditions based on expected strong sales the next few months and condominium listings of almost 900 show a more elevated inventory and more opportunities for buyers to with longer days on market to sell and greater selection available.

One clear difference too between these main property types is the percentage of listings selling for above list price in April. 28% of residential-detached properties sold for above list price compared to 9% for condominiums.

As the market  gets busy at this time of year you need to be contacting a REALTOR® to make sure you are well positioned if selling your property, and if buying, prequalified and ready to make an offer if the right property is listed in your preferred area,” said Marina James, CEO of WinnipegREALTORS®

 

 

 

 

 

 

 

 

 

 

 

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A slow start to the first quarter

http://www.winnipegrealtors.ca/Resources/PressRelease?fileID=493

Reused by permission of the Real Estate News

WININIPEG – Sales in March resulted in a slower first quarter especially in comparison to the two best years on record in 2016 and 2017.  Sales of 2,228 are down over 8% from the first 3 months in 2017, and 4% over the 10-year average.  March sales of 974 decreased 12% from March 2017, and 5% over the 10-year average. March new listings at just under 2,100 were down to a lesser extent at 5%.

Current inventory of MLS® listings going into the second quarter is almost identical to last year. It sits around 3,900 listings with a modest percentage gain of residential-detached listings available while condominium listings slipped slightly.

It is fair to say while market fundamentals are firmly in place in the local market, new mortgage rules combined with higher mortgage rates in the last year have made it more difficult for some buyers to purchase their desired property. This not only applies to first-time buyers, but to existing home owners who instead of listing their property have decided to stay put as the tougher qualifying environment keeps them from moving ahead with a new purchase.

As in other real estate markets across the country, strong year-end sales within the Winnipeg Metropolitan Region in November and December in advance of the January 1, 2018 new stress test on uninsured mortgages would have had a pull-forward effect on sales happening this first quarter.

Of course you can never discount mother- nature either as March has been unseasonably cold and did nothing to motivate buyers to kick start the spring market.

“The second quarter is by far the busiest quarter of the year and it will truly tell the story if the slow first quarter start is just that,” said Chris Dudeck, president of WinnipegREALTORS®.  “We need to see if April regains some of the market momentum lost in the first quarter.”

Further analysis of both residential-detached and condominium properties provide a few observations.

While condominiums saw sales drop 14% in the first quarter, they are only 1% below the 10-year average.  The average sales price of $240,740 was less than 2% below the more active first quarter of 2017.

Residential-detached, the most expensive property type class and one most vulnerable to recent policy-related moves to slow down the housing market, experienced an 11% decline over  the 2017 first quarter, and a 7% drop off in same period sales over the 10-year average.  The average sales price was higher however at $327,959 compared to $319,549, up nearly 3%, and the average days to sell was 29 versus 27 in 2017.

It is also worth noting the ratio of total sales price, to total list price, edged up to 99% in the month of March.  This high percentage ratio can be attributed in part to a number of MLS® areas seeing whatever listings they had available sell quickly.

“ The majority of MLS® areas which experienced the biggest decrease in residential-detached sales compared to last year were in the more affordable price ranges and often had a corresponding drop off in available listings,” said Dudeck.

This same pattern was less apparent with condominiums which had more of an issue with less listings being sold compared to last year.

“As this first quarter demonstrates, changes occur within property types, price ranges and areas throughout the market region, “said Marina James, CEO of WinnipegREALTORS®.  You need to be calling a REALTOR® to advise you on your best course of action.”

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Get a jump on the 2018 housing market!

http://www.winnipegrealtors.ca/Resources/Article/?sysid=3209

Reused by permission of the Real Estate News

Get a jump on housing market to find a hidden gem
Jan 19, 2018

by Todd Lewys

It’s a saying most everyone is familiar with: strike while the iron’s hot.

Now is the time to strike if you’re looking for a new home, said 2018 WinnipegREALTORS® president Chris Dudeck.

“With over 3,000 MLS® listings (3,037, to be exact), there’s definitely an opportunity for home buyers,” he said. “There’s a real opportunity to get a jump on the market and find a hidden gem.”

But that window of opportunity is a relatively short one, the asssociation president added.

“The spring real estate market usually starts to heat up around mid- to late-February, so now is the time to start looking.”

Why is that?

“By starting early, you’ll deal with way less competition,” said Dudeck. “With a lesser number of buyers looking, you can go through homes without feeling pressured, and perhaps find the home that’s right for you at a great price.”

It’s important to note that the key to finding the right home lies in enlisting the services of a knowledgeable REALTOR®.

“Sometimes buyers don’t know what they don’t know (and) that’s why it’s so important to find a Realtor who will guide you through the market.

A Realtor can not only help you explore the opportunities that are out there, but help you identify the one that suits you best,” added Dudeck.

Make no mistake about it, there are bona fide opportunities out there in the housing market.

With selection at a high level, buyers can find the home that best suits their needs and budget, whether it be a condo, duplex, townhome, detached single-family home or even a mobile home.

Sales numbers through the first two weeks of January have been solid, noted Dudeck.

“They’re actually up about 10 per cent over last year, with new listings up by around 10 per cent, as well. There’s great value to be found in all kinds of properties.”

That’s why it’s important to make a move now if you’re serious about finding a home.

At the same time, it’s important to keep an open mind about where you want to buy.

“A lot of people get focused in on a particular area that they want to live in,” said Dudeck.

“While that’s understandable, I think it’s important for buyers to realize that there are good homes in all kinds of neighbourhoods across the city.”

Again, it’s critical to rely on a Realtor’s expertise in this instance.

“A Realtor will guide you to explore different neighbourhoods — ones that are nearby the one you want to live in, even ones a bit further out,” said Dudeck.

“You can’t afford to lose sight of the quality homes that exist in other areas.”

In other words, buyers, if they don’t mind buying a bit further out, can find a home that provides them with more bang for their buck in the form of more space, amenities and, in many cases, a smaller mortgage, which is important in the new era of the mortgage stress test.

At the same time, buyers, particularly first-time buyers, can also move up in the world.

“By getting into the marketplace, you’re no longer paying rent. Instead, you’re gaining equity and appreciation.

“And by purchasing a home, whether it be a detached single-family home, side-by-side, townhome or condo, you stand to capitalize on the market increase over the next five years or so,” added Dudeck.

What’s the bottom line here?

If you’re in the market for a home, take advantage of market conditions that are about as close to ideal as they’re going to get.

“There’s a bit of a window — about a month or so — before the real estate market starts to heat up,” emphasized Dudeck.

“If you’re looking for a home, find a good Realtor, and don’t be afraid to explore other neighbourhoods and different property types.

“As I said earlier, now is a great opportunity to get a jump on the market and find a hidden gem.”

Association past-president Blair Sonnichsen said that there are many affordable housing options available that Realtors are able to indicate to buyers.

In 2017, Sonnichsen said that, with the help of Realtors, it had “become apparent … that buyers were making adjustments within certain propery types to attain their dream of acquiring a place to call home.”

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