What's going on in River Park South this week in real estate? Are bidding wars continuing? How does this affect your strategy when you're buying/selling?
Also, keep your eyes on our social media for the next few days...you may get lucky and find a pot of gold!
Welcome back to episode ONE of Local Business of the Week!!
I have known Dino for years, and a few years ago we shot a local business video, but it was time to do another one because these videos are back and better than ever!
One Family Fitness is a privately owned gym in River Park South. Their goal is to help all ages get into fitness, whatever level they may be at. You can head over to our link in bio - watch the long version on YouTube, but Dino has everyone from kids to 60+ years old learning more about fitness and strength training in their inclusive environment.
We spent one amazing day looking at homes, we saw a full range starting with a home that had water damage, an awkward layout, and a lack of closets - then to a home that had great space and layout, but was in much need of updating - then to one that was pretty darn good but just not exciting - then we saw this one.
As we walked through every single box was checked off that they were looking for, and it was abundantly clear how well cared for this home was.
We booked a pre-offer inspection knowing full well it was going to be super competitive, and the inspector was darn near bored. He couldn't believe how well the home was maintained and how perfect things were. With a very small list of things that needed to be addressed, we submitted our offer and ended up in competition with 6 other offers.
With 7 offers in total, we did exactly what it would take to win, and these two get the best trophy ever... a FABULOUS home.
It stands for Underused Housing Tax, and it just got introduced in Canada. What does it mean? If you own a rental property talk to your accountant immediately and find out if it applies to you. If you are a non-Canadain or permanent resident, you should also look into this. You should head on over to the CRA website and learn about it. See if you might apply, and then seek the right professional advice to ensure you don't miss any paperwork and get any fines.
This market is very quickly turning into serious stuff. It has been about 4 weeks now since the return of bidding wars. 4 weeks of paying very close attention to each and every detail, being perfectly in tune with what is happening.
We monitor days on market
We talk about how many offers houses out there are getting
We talk with our lenders about the mortgage rates
What are the trends across our city?
What are the trends across our country?
Tis' award season and Royal LePage Winnipeg did a great job putting on an event for us where we got to listen to Wade Miller and Adam Bighill talk.
For these events it isn't about the awards, it is the time spent together with our colleagues. Where we get to hang out, talk about things that aren't work and develop our relationships with other agents.
Those relationships are so important when doing transactions, knowing the person on the other side of it makes it so much easier to help our sellers and buyers.
What does it mean when the rates stay the same? This is the first time in a year that the rate has stayed the same and has not increased after a Bank of Canada meeting.
It means that they feel our market can't take another increase and that we are also correcting and it doesn't need another boost.
It means a collective sigh from buyers, sellers, and Realtors
It means our Winnipeg market which was already heating up, will likely heat up more as buyers get excited over this lack of change in interest rates.
It means house prices will rise (although they have been for the last 4 weeks already)
It means we could be at the bottom of the cycle and could see rates go down in the future. Maybe months, maybe a year or two, but it could be at the bottom and ready to come back up.
It means a lot, and you need to pay attention to if you are a seller or a buyer... or better yet. head on over to the link in the bio and book a time to talk about it with our team.
To say that I am proud of our team is an understatement. Each every individual person from our admin team to our agents are working hard, helping clients, and adjusting to the market as things change. Congratulations team on a job well done!
Bidding wars are heating up, and days on the market are tightening. What else is happening in the River Park South housing market? Also, stay tuned for information regarding our neighbourhood Easter egg hunt!
The last story for 'I Love To Read Month'...I love this author Moe Willems is adorable, and his entire series is so much fun. It's great to read to children or for them to start reading at the early stages. Follow along as snake learns to play with his friends.
Houseplant appreciation day has passed (January 10th) but.... this video is too epic to not share... So enjoy bloopers and all the information on why plants are awesome when selling your home!
Three sales this week in River Park South are all over the list price. There are rumblings all over the market that we're heading back to multiple offers. Do you think this is happening?
It's 'I Love To Read Month' and Sheri is here to share inspiration from one of her favourite books!
If there was ever a story for "days on market are your enemy" this is the house....
We hit the market and things were great, we had constant showings but just couldn't find the right buyer. As time went on I started getting texts and calls from other realtors "what is wrong with that house, why is it still on the market" buyers and realtors were starting to judge it by the days on market before going in to see it, assuming it must be slanted, cracked foundation, or smelly... but none of those were the case at all!
So, when we were able to (there are rules about this) I told the seller "we need to expire this listing and start fresh with zero days on market". The seller trusted me, we pulled it off the market, did up the paperwork, and had it back on market within 24 hours.... a new price, fresh listing.... and BAM! Showings were coming in like crazy, and on day 1... an offer!
All it took was a little refresh of the listing, a plan, guidance, and a seller that trusted the process.
I can't wait to see what adventures you are in for next and I am so happy that this chapter is now complete so that you can get on to all the exciting things you have planned.
While I was in Banff they set out with Heather to look at a few homes and fell in love. I wrote up the offer and as soon as I got back we did the home inspection. It uncovered a few unexpected items (hello knob and tube) and so we went back to the negotiating table, only to turn up empty handed. The sellers weren't going to budge. We walked away with a plan to do a weekend blitz of homes to make sure walking away was the right decision.
Then, we fell in love again! It was a home that had been on the market a while, it was a great home, a hidden gem, we wrote an offer.... and again, roadblock. A very stubborn seller who at most would negotiate only $900 off the list price. Again, we walked away.
These two thought long and hard about the first home, and we re-engaged in conversation, only to discover that the sellers had also found the same issues we had! They had spent that "time away" and did some more digging on their own home, the conversation was open again and we were on our way to making a deal happen. Only 24 hours after that conversation started again, we had both an accepted offer and financing complete and were able to seal the deal on making this home theirs!
Congratulations to the two of you, while the journey was short it was amazing. You are a lot of fun and deserve ever bit of happiness that you are going to build in your new home.
Things are going well in River Park South and throughout the city. What do you think will happen next? More multiple offer listings or back to a more 'slow but steady' market?
I am super good at doing unscripted things.... but try to get me to say the same thing a certain way a few times... and it just isn't going to happen!
I Love to Read month continues!
I agree with Sandeep that this book is awesome! It is full of information that can be used by almost anyone on a daily basis. Learning techniques of negotiation are important, not just to Realtors but to everyone. Think of all the times you negotiate on a daily basis, with your children, partner, work, or even a pet. We are negotiating all day long every day!
Have you checked out the Leaf yet in Winnipeg?? After waiting and watching the construction of it happen for so long it is so delightful to hear so many amazing things about it!
With multiple biomes, a butterfly garden and an incredible indoor waterfall, the leaf must be checked out! While you're waiting to see it for yourself, teammate Sheri is here to share it with you!
For some having a team is all about numbers. It is getting more sales, reaching higher in the ranks, and outdoing others. But for me, it's about community, having fun, and achieving more. To have fun together, laugh, and help each other.
Buying or selling a home is a huge life decision. I am here for you to ensure you make the best decision possible for yourself.
