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Once Approved, Don’t Change Your Finances

I know this sounds like a broken record, but we keep telling you because we keep seeing it happen. Once you get approved for a mortgage you CAN NOT change your financial status. This means, no job changes, no getting new credit, no new cars, no big payments, don't move money around in your bank accounts and the list goes on.

Once your home purchase has been approved you really do need to run any other big decisions by your lender to make sure that you are all good and in the clear.

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Let’s Talk About Mortgage Rates

On September 6th there is going to be another announcement about mortgage rates, are they going to go up, down or stay the same...

While we are all a little nervous that they might go up, I love looking back, and seeing that they aren't that high according to history, we were just spoiled rotten for the past few years and so what we are going through right now feels awful.

The 80's... that was awful, but even in the early 2000's the rates were still higher than we are seeing now. It has been nearly 20 years since I bought my first home, and I wish I could remember what my first interest rate was, according to this it would have been somewhere between 6% and 8%... so still higher than what I have right now.

And remember, when the rates are higher is the time to buy, when everyone else is pulling back, this is the market that investors love, and if they love it you should love it too.

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Your Weekly Market Update For River Park South

Explore the latest trends and developments in the River Park South real estate market this week. Delve into an in-depth analysis of how different price points are performing. Are some price brackets outperforming others? Uncover the nuances of the property market in this neighbourhood and gain valuable insights to make informed decisions.

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You Can “Port” Your Mortgage??

Did you know that you could "port" your mortgage? Do you know what that is? Firstly, talk to your lender about it to know if porting is an option.

If you are hesitant about selling your current home because you are locked in at an amazing rate, then explore the option of porting.

It can allow you to blend rates, helping to keep them lower and port them over to a new home. Take your (as an example) 2% mortgage and blend it with the 5% that is the current rate and you might end up between 3 and 4%. It can be a great way to feel better about making the move, and not sacrificing the rate that you currently have secured.

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Winnipeg’s Mortgage Delinquency Rate

Currently, Winnipeg is sitting at a .18% mortgage delinquency rate. What does this mean? This means that .18% of mortgages are 90 days or more past due on payments. This is also a lower number than the average since 2013.

The reason I tell you this... There is a misconception that there will be an abundance of mortgage foreclosures coming our way and that we will be able to scoop up homes at incredible deals.

The truth is.... we are doing incredibly well on our mortgage payments as a city. If people do get in hot water and are headed for foreclosure, they will sell their homes and have incredible amounts of equity to pull out, leaving them in a good financial spot.

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A Buyer’s Agent’s’ Commission

Did you know that right now there is a lawsuit happening in the United States that could change the way that buyer's agents' commissions are paid? It may be a different country, but things do happen to trickle up here, and I am sure it will spark conversations... so I am curious to know... Do you think buyers should have to pay the agents themselves? If you are a buyer do you think you would be able to save up that money? Drop your comments below and let the debate begin!

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Your Weekly Market Update For River Park South

Dive into your comprehensive weekly market update for the vibrant River Park South community. This update is your one-stop source for all the latest real estate trends, property valuations, and community happenings in your neighbourhood. Stay informed and ahead of the curve with our detailed analysis. What's making headlines this week?

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9 Details That Are Easily Ignored, But So Important When Selling Your Home

When showing homes these are some of the things that buyers look at,👀 make comments on, and might change their minds about purchasing👈️ your home:

1️⃣ Burnt-out lightbulbs - it seems simple, and not something catastrophic that would change someone's mind, but you would be surprised what people can say about lightbulbs.

2️⃣ Dusty light fixtures - when you look up at that light fixture and it is covered in dust it is an instant turn off

3️⃣ Dusty Vents - almost always missed by sellers but noticed by buyers, these things can get GROSS, so make sure to clean them off.

4️⃣ Bathroom vents - buyer will turn these on to make sure they are working, then look up at them. If it is all covered in dust it is just one more thing that is dirty in the house and needs to be done

5️⃣ Squeaky doors - make sure they all close quietly and well

6️⃣ Dirty windows - dirt can be mistaken for a window with a broken seal. Make sure the buyer has a beautiful clear view of their yard from inside the house

7️⃣ Dirty sliding door jam - I don't like cleaning this any more than you do, but make sure that it is all clear of gunk and sliding perfectly

8️⃣ Dusty ceiling fans - again, buyers look up, they are admiring those fans, so make sure they aren't coated in dust

9️⃣ Dirty walls - the best thing here might even be a coat of paint, but start with giving them a good clean. So many times I have seen filthy walls around light switches and doors where hands often are and it is an instant turn-off.

All of this you can do yourself and doesn't add any extra expenses to selling your home, but it has a huge impact on the buyer's thoughts when they go into your home.😃

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Navigating the Real Estate Seas in High Interest Times!

The tide has shifted, and interest rates are riding high these days. While it might seem like a challenge, it's all about perspective. High-interest rates definitely add a layer of complexity to the real estate game, but they also bring unique opportunities for those ready to strategize and seize the moment.

As interest rates climb, there's a lot to consider, whether you're looking to buy your first home, upgrade, or invest. The real estate market remains a realm of potential, and the key is to adapt your plans to the changing conditions.

Higher interest rates can mean adjusting budgets and expectations, but they can also lead to a market where motivated sellers are looking to make deals. It's a dance between balancing your financial aspirations and finding that perfect property to call home.

So, if you're like me and excited by the challenges that high-interest rates bring, let's start this journey together. Let's share ideas, discuss strategies, and inspire each other to navigate this landscape.

There's no doubt that with the right mindset and knowledge, we can turn these high-interest times into opportunities for growth and success.

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Attention Homeowners Selling with Pets: Top Tips for a Smooth Sale!

Are you a pet owner looking to sell your home? Don't worry, we've got you covered! Here are some handy tips to ensure a successful sale while keeping your furry friends happy:

1️⃣ Stage Wisely: When showcasing your home, aim for a clean and decluttered space. Tidy up pet toys, bedding, and food bowls to create a welcoming atmosphere for potential buyers.

2️⃣ Repair and Refresh: Any signs of pet-related damage, such as scratches or stains, should be addressed. Consider repainting walls, refinishing floors, or deep cleaning carpets to eliminate odours and make your home more appealing to buyers.

3️⃣ Furry Friend Retreat: During showings or open houses, arrange for a safe and comfortable space for your pets away from the property. This way, they won't get stressed or interfere with potential buyers' experiences.

4️⃣ Eliminate Odours: Pet odours can be a turn-off for buyers. Regularly clean litter boxes, wash bedding, and vacuum or steam-clean carpets to keep your home smelling fresh.

5️⃣ Pet Photography: Highlight the positive side of having pets by including photos of your furry friends in your listing. This can create an emotional connection and show potential buyers how pets can thrive in the space.

6️⃣ Secure the Yard: Ensure that your backyard is properly fenced and secure to give buyers confidence that their own pets will be safe in the new home. Fix any broken gates, secure loose fences, and remove any potential hazards.

7️⃣ Minimize Distractions: Arrange to have your pets temporarily elsewhere during important events like inspections or appraisals. This helps minimize distractions and allows potential buyers to focus on the property's features.

8️⃣ Communicate Clearly: Let us know any potential pet-related information we may need to know. Are there rules in your building (think condo) or are pets allowed

9️⃣ Professional Cleaning: Consider hiring a professional cleaning service to thoroughly deep clean your home. They can target areas that may have accumulated pet hair, dander, or allergens over time. A clean and fresh-smelling home will leave a positive impression on potential buyers.

🔟 Remove Traces of Pet Presence: Before showings or open houses, thoroughly clean your home to remove any visible signs of pets. Vacuum carpets, mop floors, and wipe down surfaces to eliminate pet hair and dander. Additionally, hide away pet supplies like leashes, litter boxes, and feeding bowls to create a neutral and clutter-free environment.

Remember, selling a home with pets might require a bit of extra effort, but it's definitely manageable!

Reach out to us if you are thinking of selling and have a furry friend. We would love to meet them and help you navigate the sale.

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Your Weekly Market Update For River Park South

Welcome to the River Park South Market Update. This week, the real estate landscape continues to present challenges, making it a complex terrain to navigate. Whether you're considering selling your current property or on the hunt for a new home, I'm here to guide you through the process. Don't hesitate to reach out if you have any questions or need expert advice. I'm committed to helping you make informed decisions in this fluctuating market.

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Reflecting on Home Sweet Home

Amid the hustle and bustle of life, let's take a moment to gaze into the mirror of real estate. What do you see? More than just walls and roofs – it's a canvas of dreams, aspirations, and lasting memories.

As we stand before the mirror of a property, we're not just witnessing a structure, but envisioning a future. A place where stories unfold, families grow, and laughter echoes through the rooms.

Let's embrace every unique feature, every corner that holds potential, and every detail that shapes a house into a home. Remember, it's not just about bricks and mortar; it's about creating a sanctuary that reflects your style and dreams.

So here's to the mirrors of real estate, reflecting the journey of finding that perfect space to call your own. Tag someone who's on the hunt for their dream home. Let's make those real estate dreams a reality!

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House Hack, Here’s What To Do

A lot of people get confused about the "2nd home at 20%" part, it isn't if your picking up and moving your family that you have to pay 20% down, it is when you are buying a rental property. But what if you could also get a rental property at 5% down?

Here is what you do...

You keep your current home as the rental, and buy your next family home at 5% down, and do that a few more times.

Maybe you buy that starter home at 5% down, then you keep it and move up. Then you keep that move up and move up again, and each time you move up it is only 5% down. This way you are acquiring rental properties as you go, as you move up in the real estate world, and doing it all with the least amount down which helps to free up your cash!

Reach out to talk to us if this is something you may be interested in. We can help you determine if your current home would be a great rental property for you.

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Your Weekly Market Update For River Park South

Explore the current dynamics of the River Park South real estate market with us. In this market, a well-crafted strategy is crucial for selling your home successfully. We're here to provide expert guidance and navigate you through the process. Don't hesitate to connect with us for a comprehensive understanding of the market trends and personalized advice tailored to your needs.

/ Royal Lepage Top Producers/
July MLS® sales continue to perform similarly to pre-pandemic years

WINNIPEG, August 9, 2023 – July MLS® sales decreased from June, last July and the 5-year average. Active MLS® listings rose from last month, last July and to slightly above the 5-year average.

​“The last 3 Julys were the top three Julys on record but when taking the 5-year average of Julys from 2015 to 2019 before the pandemic began, we see July 2023 MLS® sales tracking similarly," said Rena Prefontaine, 2023-2024 President of the Winnipeg Regional Real Estate Board. “The depleted housing availability seen over the last 3 years has balanced out with gains to active listings that are encouraging to see. A healthy housing inventory that spans all different price ranges is important for a balanced market."

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