Bo Knows Real Estate

Is spring 2023 turning into a great 'Buyers Market'? When comparing listings and sales, year over year, there is no doubt that numbers are looking favorable for home and condo buyers in Winnipeg. Let's take a look at the stats of the month of April 22 and April 23. As we can see from the 'ALL MLS' graph, active available listings (all types of houses and condos) are up 70% over last year, same time. They are actually right in line with the 5-yr average of available listings (3,548) At the same time, property sales are down by 24% from last year...... as well as being down 17% from the 5 yr average. Detached Homes in Winnipeg The numbers for stand-along houses (detached homes) is even more telling. The active listings for the Winnipeg Real Estate Board area are 1,761, which is nearly double (+84%) of the active listings in April 2022, which were 956. At the same time, sales are off by 25% when compared to last year. So these numbers alone would suggest a nod towards a buyers market. Since there are MORE HOMES for sale, and FEWER sales happening, buyers overall face less competition, more choices and fewer bidding wars. But the story does not end there. Take a look at the average prices: Last year the average detached home sold for $447,295 while this year its $409,286, a drop of 9%. A third sign of a buyers market. Attached Homes in Winnipeg How about the so-called attached homes. These are side-by-sides and townhomes. Home builders have been constructing these as an alternative for first time buyers. Since they use less land, and less building material, they are quite a bit cheaper to build. Let's see how those are faring: Here active listings are actually more than double, going from 122 in 2022 to 252 this year. Sales are off 28%, from 109 last year to 79 in April 2023. And prices are also down 28%, to an average of $326,995. So the story is very much the same as it is with detached homes.......more availability, less competition among buyers and lower prices to boot. Condominiums in Winnipeg Does the story repeat for condos in Winnipeg as well? Yes, but not the same extreme. The 484 available condominiums are a 42% increase over last year, which sales are off by 24%. Last April we sold 224 condos, whereas this year we only sold 171. However prices have remained fairly stable, dropping just 1% for the average sale, from $261,802 last year to $258,571 this year. What about interest rates? While all those numbers point to a more buyer-friendly environment, some folks point to the higher interest rates as a deterrent. Here is another way to look at this "Interest rates will go up and down, but the purchase price is forever." Unless you're lucky (or wealthy enough) to pay your mortgage off in 5 yrs, you will most likely have to re-new it a few times. Each time you will be subject to the current interest rates of the day. Your mortgage payment will, of course, be based on your current outstanding debt. And right now, you can buy a house for around 10% less than last year. PLUS have more homes to choose from, AND fewer bidding wars than last year. All of this adds up to an encouraging sign for home buyers. If you're interested in exploring your options, and see how much home your current pre-approval will buy for you, call me to set up a free buyer consultation.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Saturday, May 6h, 2023… Today is National Homebrew Day and International No Diet Day. As a home buyer, do you know the difference between being a customer and being a client? If you’re going to open houses or calling different agents asking them to show you their listings, you are a ‘customer’. The agent you are speaking with is required, by law, to do his best for his home-seller. As such, the agent only owes you honest answers to direct questions. The agent is actually required to tell his home-seller any information he learns about you. However, if you are working with your own home-buyer agent, you are now, in law, considered a client. YOUR agent owes you certain responsibilities and duties, such as protecting your privacy and financial interest. Here is the kicker: There is no monetary cost to being moving from being a customer, to becoming a client. Thinking of buying a house or condo? Call me right now to set up a free home buyer consultation, either in person or via zoom. 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Sunday, April 30th, 2023… Today is, National Oatmeal cookie day, Nat. Bugs Bunny Day and National Adopt a shelter pet day Let’s give a shoutout to that last reference, the Shelter-Pet adoption day. Here in Winnipeg we are privileged to have Western Canada’s largest ‘for-life’ pet shelter in the form of D’Arcy’s Animal Rescue Centre, located at 730 Century St. In operation for over 22 yrs, D’arcys ARC has saved over 16,000 cats and dogs. As a registered charity, your donations are tax deductible, so please join me in supporting this wonderful cause. Winnipegs spring market, although delayed, is starting to heat up. Here are a couple of sales in the past week: 2 story home in River part south was listed at $400K and sold for 61K OVER asking. A side by side in All Seasons Estates sold for $320K, which was 30K over asking. A 900 ft bungalow in West Ft Garry sold for 77k over asking Even homes outside of the city are getting some love: 1300 ft bungalow near Ile Des Chenes on a 1 acre lot sold for 30K over asking. A common refrain I hear from buyers is: “I’ll never get involved in a bidding war”. Truth bomb: don’t kid yourself. If you go out and LOVE a house, most buyers would put in an offer and voila….you’re in a bidding war, like it or not. Who is winning these bidding wars? The buyers who are best prepared and ready to go. Call me right now to set up a free home buyer consultation, either in person or via zoom. 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Monday, April 24th, 2023… Today is National Bucket List Day and Pics in a blanket Day Today, let’s talk a little about home staging. When hearing the word, a lot of people might envision a long, involved process, including movers, decorators and stagers. In reality, even a few touch ups and clean ups can make a huge impact. Over the next few days we’ll look at several areas where a little diy and elbow grease will go a long way to make a great first impression. For today, I’ll focus on an often forgotten aspect of staging…. Offensive odours: Odours are usually traced to any of 3 sources: Pet, smoking or cooking. The problem is that home owners often no longer notice these smells, as they get used to them. But a non-smoking buyer, for example, will immediately pick up on the distinctive smell of cigarettes or cigars. I just showed a house that had an overwhelming cat odor it was like a punch in the face stepping into the home. Adding to the problem is the fact that many listing agents just don’t feel comfortable addressing this issue head-on. How do you tell a home seller that their home has offensive odors? Doing so might cause the owner to go with a different agent, one who is more effusive and complimentary and tells the seller just how beautiful their home is. Take it from me….. offensive odors can cost you serious money in lost offers, and lowball offers. Thinking of selling? Call me right now to set up a free home seller consultation, either in person or via zoom. 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Saturday, April 22nd, 2023… Today is National Jelly Bean Day and International Earth Day According to a new RateHub research, Canadians will need an annual income of $217,000 in Toronto to finance an average home. That’s a lot of jelly beans Even though the city's average home price has dropped by more than $200,000, the income required is actually 6,250 more than was required a year ago. According to RateHub co-CEO James Laird, Canadians now need to earn more money to buy a home due to rising interest rates and a 7.54 percent stress test rate. According to the survey, homebuyers in nine of ten Canadian cities must earn between $5,650 and $21,360 more in annual income than they did last year in order to afford a home. The only city where you can buy a home with less income than a year ago is Hamilton ONT, which requires nearly 5K LESS in annual income than a year ago. Reason is that Hamiltons average home dropped around 20% in value, which more than makes up for the rise in interest rates. Lets take a look at some of the cities in this report The average Vancouver home dropped by $119,600 March over March, but the income required rose by 21K to 221,220/year. Calgary got the double whammy. House prices went UP 5,600 on average (the only city with an increase in property values). Add the higher interest rates, and required income went from $91 to $110,000/year The only 2 cities in the report with home values below $400K where Edmonton and Winnipeg. In Edmonton, you need an annual income of just shy of $82K, while in Winnipeg, $75,650 is enough to buy an ‘average home’.. Thinking of buying? Call me right now to set up a free home buyer consultation, either in person or via zoom. 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Thursday, April 20th, 2023… Today is National 420 Day, Volunteer Recog. Day and Nat. Cheddar Fries Day You may be wondering where the housing market will go from here as it continues to evolve. You've probably heard something about a price crash on the horizon in the news or on social media. According to a recent Zonda survey, 53% of millennials are still renting because they are waiting for property prices to fall. But here's the thing: according to the most current data, housing prices appear to have bottomed out and are now on the upswing. CoreLogic's Chief Economist, Selma Hepp, reports: "U.S. home prices rose by 0.8% in February... indicating that prices in most markets have already bottomed out." So, should you hold off on purchasing a property till prices fall? If you consider what the experts say, you probably shouldn't. According to the data, prices are rising rather than falling across much of the country. According to the most recent Home Price Expectation Survey data, experts predict that home prices will grow slowly and revert to more normal levels of appreciation after 2023. Working with a local real estate professional who can provide you with the most up-to-date information and expert advice is the best approach to understand what house values are doing in your region. Thinking of buying? Call me right now to set up a free home buyer consultation, either in person or via zoom. 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Monday, April 17th, 2023… Today is National Crawfish Day and Bat appreciation day (the mammal, not the stick) Just a few weeks ago, we were wondering if cheap credit and government-led relief measures would stop Canada's real estate market from going down. According to figures from the Canadian Real Estate Association (CREA) that came out this morning, the benchmark home price went up a lot in March. Canadian Real Estate Prices Jump $12k Last month. In March, the average home went up 1.7%, or $12,300, to $727,700. It comes after a 1.0% rise (+$7,100) in February and is the second increase in a month since the correction started. Even though two months doesn't seem like much, it's enough to change the direction of the annual trend. In March, home prices dropped by 15.5%, or $133,300 as compared to last year. The 12-month drop is the biggest fall in CREA's benchmark's history. Since the standard only goes back to 2005, it's hard to say how this compares to the correction in the 1990s. At the same time, this might be the fastest rate of turnaround. Prices of properties don't move in a straight line, so it's too early to tell what will happen. For more on this report, go to https://boknows.homes/8c2f1d90 Here in Winnipeg, we should also focus on one figure that I just mentioned: The benchmark home in Canada sits at 727K??? Not around Winnipeg, where you can get a really nice, detached bungalow for about half that amount. In fact, I just listed a nice 1300 ft bungalow on an acre property just south of Ile des Chenes for $350K. Thinking of buying? Call me right now to set up a free home buyer consultation, either in person or via zoom. 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Saturday, April 15th, 2023… Today is Nat. Laundlry Day, Glazed Spiral Ham Day and take a guess…..its Nat. Take a wild guess day Should you consider buying a brand-new condo? Wanna make some quick cash by buying pre-construction units? We’ve all heard the stories of real estate investors and speculators purchasing pre-construction condos in major markets such as Vancouver and Toronto. The story goes like this: They buy a $700K unit before they are even built, and at possession time, the units are worth 800K, 900k or even more. I know of some Vancouver investors who came to Winnipeg back in 2008 and tried that with a brand new condo building along wellington Cr. They were sorely disappointed when they tried to sell a year after possession and couldn’t even get their money back. Winnipeg’s new condo market can be compared to the new car market. We all know what happens when you drive your new car off the lot, right? Same thing happens to your brand new condo. Live in it for a year, and it’s no longer brand new, but if you try and sell, you’ll be up against other units in the same building, still being sold by the builder at the brand new prices. There really is only ONE situation when you should consider buying a brand new condo in Winnipeg: It’s when you plan on living in that unit for at least 6-10 years. Why? There is actually a drop in your value for the first couple of years, which should correct itself over time…..say 6-10 yrs. So if you are certain you’ll own and enjoy your new condo for at least that long…I say go for it. But if there is a chance you need to sell in the next 5 years, consider a resale condo, where the values have already stabilized. Thinking of buying? Call me right now to set up a free home buyer consultation, either in person or via zoom. 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Friday, April 14th, 2023… Today is National Gardening Day, National Pecan Day and National Ex Spouse Day. Yesterday we opened up the Winnipeg Regional Real Estate Board Market report for March 2023, and saw that listings were up, sales were down, and prices of detached homes were down by 12% Total let’s look at attached homes and condos. First, attached homes which are side by sides and townhouse style buildings. Here, available listings are more than double the number last year, up 132% while sales are down around 31%, Prices have dropped around 6 % from an average of $349k to a little over $328. Itt should be noted that builders love to build these townhouse style homes because they are more cost-effective. The property size is smaller, and thus cheaper, and these 2, 3 and 4-piece units are cheaper to construct. Next, condominiums are in a similar boat. Numbers of available listings are up, although not as much as attached homes. Listings are up 35% and sales are down by the same 35%. Prices are also down 6% over last year, from an average 260K to just $245K. Condos also offer a great way to get into home ownership at a lower cost. However, BEFORE you buy a brand new construction condo, listen to my next episode as I will share a couple of thoughts on this topic. You are NOT going to want to miss this, so please listen BEFORE you make that type of decision. Thinking of buying? Call me right now to set up a free home buyer consultation, either in person or via zoom. 204-333-2202 Come back tomorrow when we’ll dive into the attached homes and condo market stats for the month. Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Thursday, April 13th, 2023… Today is National Peach Cobbler Day and National Scrabble Day The Winnipeg Regional Real Estate Board has just released it’s MLS stats for March. While sales and listings are on the increase when compared to the previous month, they still lag well behind the craziness of 2022. In March we saw a total of 1,014 MLS sales in total, which is down from the over 1400 in March last year, and also down from the 5 yr average, which sits at 1300 sales for that one month. The largest difference is in the sales and prices of stand-alone houses, called detached homes. Sales in March of 698 homes is down 28% from the same time last year, and 21% lower than the 5 yr average. As for prices, the average detached home sold for $386,800, which is down 12% from the average last year, which sat at $439.900. Active listings in this type of home are up over double from last year. So definitely the bright spot here is for home buyers: More than double the numbers of available listings, prices have gone down 12% and fewer competing buyers in the market. All this means that right now we are in a much more buyer-friendly market here in Winnipeg. Thinking of buying? Call me right now to set up a free home buyer consultation, either in person or via zoom. 204-333-2202 Come back tomorrow when we’ll dive into the attached homes and condo market stats for the month. Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Monday, April 10th, 2023… Today is National Siblings Day and National Cinnamon Crescent day A newly published article in Better Dwellings reports the fact that Canadian real estate owners are not selling right now, and examines the reasons why. The article reports that two of Canada’s trend leading markets, Toronto and Vancouver, saw new listings in March fall by 44% and 34% respectively. They identify the main reason as being ‘little reason to sell’. Higher interest rates ‘normally’ cause prices to drop, but that’s not happening this time around. The report somewhat falsely claims that the shortage of listings is a country wide phenomenon, affecting all markets. For the full report, go here; https://boknows.homes/4b74e290 But again, Winnipeg is bucking the national trend. On April 1st this year, Winnipeg had 961 houses of all types, styles and sizes available for sale. That was more than double the numbers available on April 1st last year. While we can agree that last year’s 426 houses was an abnormally low number, April 2021 still only had 615 available. We have to go back to the very start of the pandemic, to find over 1,000 listings on any April 1st date. So Winnipeg right now is actually seeing more choices for buyers than at anytime in the past 2 yrs. How about prices. The most recent report from Winnipeg REALTORS shows that the average house in Feb. this year sold for $375k, which is down 13% from the average of 429K the same period of the previous year. The March sales stats should be out in the next day, and I’ll be happy to report them here… Looking to buy or sell in Winnipeg? I am a, Accredited Buyer Representative, AND Certified Luxury Home Marketing Specialist and can help you buy or sell any house or condo in Winnipeg and surrounding areas. Call me anytime at 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Friday, April 7th, 2023… Today is Good Friday, National Beer Day and Nat. No Housework Day According to new research from Zillow, some luxury features may help you sell your home for more money or faster than you thought. The real estate website looked at 271 design terms and features that would be included in nearly 2 million home sales in 2022. Two chef-friendly features that helped homes sell for more were steam ovens and pizza ovens. Steam ovens helped push prices up by 5.3% compared to similar homes without them, and pizza ovens helped push prices up by 3.7%. Professional appliances, "she sheds," quartz counters, and hurricane storm shutters where among the top 10 features which helped increase the prices. Zillow also looked at which features helped houses sell faster than expected. The top of that list was doorbell cameras, open shelving, heat pumps, fenced yards, hardwood; and gas furnaces. Looking for a luxury home in Winnipeg? I am a Certified Luxury Home Marketing Specialist and can help you buy or sell any luxury property, house or condo in Winnipeg and surrounding areas. Call me anytime at 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Thursday, April 6th, 2023… Today is National Burrito Day, New Beers Eve and Nat. Employee Benefits Day Growing demand for homes has made its way up to the higher end of the Canadian real estate market. In most of the country's major markets, luxury sales went up in the first quarter of 2023 compared to the fourth quarter of 2022. RE/MAX Canada looked at luxury market patterns in 15 locations across the country, from coast to coast. They discovered that the significant loss of home stock is pushing up prices at lower price points and increasing demand. 10 of the 15 markets that were looked at are on par with or ahead of Q4 2022. As sales and temperatures rise, this pattern is likely to keep going until the second quarter of 2023. Calgary and Hamilton saw the largest jumps at 34% and 39% respectively. A lot of the activity is thought to be due to demand that has been building up since the middle of 2022. Buyers are taking advantage of the chance they have right now to buy a property. Listings, on the other hand, are hard to come by in most parts of the country, making it hard to find the ideal home. In summary, the report identified 3 trends: 1) Overall national demand for luxury homes has increased 2) Sidelined buyers are back, and 3) The activity is expected on continue and rise. Once again, Winnipeg is one of 5 cities bucking the trend, although just barely. Luxury home sales were down in St. Johns NFLD by 68%, Edmonton AB by 30%, Kelowna BC by 17% and London ONT by 9%. Winnipeg saw the smallest drop at only 3.8%. Looking for a luxury home in Winnipeg? I am a Certified Luxury Home Marketing Specialist and can help you buy or sell any luxury property, house or condo in Winnipeg and surrounding areas. Call me anytime at 204-333-2202 Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Wednesday, April 5th, 2023… Today is First day of Passover, Nat. Deep Dish Pizza Day and fittingly, Nat. Walking Day The largest oceanfront single-family property in Miami came back to the market on Tuesday. They tried selling this thing last year, and despite the jaw-dropping 100-million price, the 1.5-acre estate is being marketed as a teardown. BONUS: the new owner will also receive approved plans for a new 10-bedroom, 30,000-square-foot home. (the contruction of which is NOT included) The property is currently owned by Edith Newman and her late husband, Joel Newman, founder of Craig Electronics, since 1995 and has been custom built with nine bedrooms and 12 bathrooms across 25,867 square feet. Golden Beach is known as a very upscale community, with a small population of approximately 364 households, and celebrity residents include Bill Gates and Eric Clapton. For more info, see the article here https://boknows.homes/91ea0500 Meanwhile, back on earth, the largest home on the market in Winnipeg is a 5900 sq ft 2-storey home in E St Paul. Built in 2002, it is currently asking 2.5 million and has been on the market for 81 days The most expensive house in Winnipeg is a newly listed, 4400 sq ft 2 storey home in Tuxedo, built in 2022 and asking 4.2 million To see these or any other house or condo on the market, contact me anytime Bo Kauffmann with REMAX at 204-333-2202

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Tuesday, April 4th, 2023… Today is Nat. School Librarian Day, Vitamin C Day and Hug a Newsperson Day (or podcaster) At least one major Canadian Bank thinks that house prices in Canada are poised to dramatically go up. Scotiabank points out that the Band of Canada and the Fed Government are acting in opposing fashion, and that the Federal Govt might just win this race. While the Bank of Canada has been keeping interest rates higher to cool the housing market, the Fed’s policies are stimulating the real estate market. Policies like increased immigration and the new Tax Free Home Buyer Savings Plan are encouraging buyers to enter a housing market that is low on supply, at least nationally. For more info, read this article here: https://boknows.homes/e6988560 Speaking of housing affordability… RBC has devised an ‘affordability measure’ which is based on the percentage of income a typical household would spend on home ownership costs. Nationally, the average is at 62.8%. But in the late stages of 2022, Vancouver hit the ridiculous mark of 98.1%, making it the most unaffordable city in which to own a home. The average MLS price for a home in greater Vancouver is 1.2 Million dollars. For more info, read this article here: https://boknows.homes/9d515310 Meanwhile, back in River City, the average house is around $340,000, and the average condo around $240,000. And unlike the national average, our market has plenty of homes to choose from….at least for now. Add us to your Daily Routine on Alexa. Go here to add to Alexa in the Canadian Skill Store. Are you interested in more in-depth real estate information? Check out our podcast, available on most podcast platforms. Do you have an Android Phone? Add our Free Podcast App Here. Do you have an I-Phone? Here is our iOS version of the podcast app.

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Monday, April 3rd, 2023… Today is World Party Day, National Choc Mousse Day and here it’s Market Monday. Being the 1st Monday of the month, lets take a look at the local market conditions. On April 1st, we had 961 houses of all types, styles and price ranges available for sale in Winnipeg. Last year that number was 426. So we have more than double the number of homes for sale than we did last year same time. On the sales side of the equation, we sold 520 homes in March this year, compared to 773 same time last year. So available homes are up over 100%, while sales are DOWN around 35%. It’s a great market for buyers. And with interest rates having stabilized in the past month, things are looking great if you’re interested in buying a home. What about Condos? On April 1st, we had 318 Condos available in Winnipeg, compared to just 247 same day last year. So again, inventory is up nearly 30% During March we sold around 100 condos, compared to 214 last year same period Condos represent an excellent opportunity to get into the home ownership market in Winnipeg, and now is a GREAT time to buy one. For a more historic and in-depth look at the Winnipeg Real Estate Market, go to https://blog.winnipeghomefinder.com/winnipeg-housing-market-report/

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Celebrity Sunday, April 2nd, 2023… Today is World Autism Day, National Peanut Butter and Jelly Day, and National Reconcilliation Day. Whenever a huge event, like a Super Bowl comes to a city, rental rates go thru the roof for that week or month. But this is ridiculous Turns out the owner of a 6,000 sq ft home in Paradise Valley , an affluent area in Phoenix, had no intention of renting his home out, let alone rent it during super bowl. But then the agent for Rhianna came calling with a sweetheart offer. As you recall, Rhianna performed at the Super Bowl this year and needed a pad to crash between rehearsals. The offer: $500,000 for ONE WEEK. Singer Avril Lavigne has put her 3500 sq ft Malibu Home on the market for a cool 12 million. The home was built in 1968 and sits on just over half an acre. Over the past 2 decades, actor Brad Pitt had purchased several adjoining properties amounting to just under 2 acres. This week he sold the whole thing to an unidentified buyer for 40 million dollars. Closer to home, a 3500 sq ft Tuxedo home sold for just shy of 2 Million dollars. Noteworthy: The wine cooler in the basement was specifically excluded..

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Saturday, April 1st, 2023… Today is April Fools Day, National Sourdough Bread Day (No foolin) As of today, Canadians are supposed to be able to start contributing to a Tax-Free First Home Savings Account. Here is how that works: Canadian Citizens who are at least 18 yrs old, and no older than 71, open up an FHSA and start contributing money into it. The yearly limit is $8,000 with a lifetime limit of $40,000. Just like an RRSP, contributions are deductible from your income tax, so this makes a great tax-avoidance option. Unlike RRSP’s, when you pull the money out to buy your first home, you do NOT have to replace that money into the account later. Definition of first time home buyers are those who have not owned a home, in which they live, for the past 5 years. Started this briefing by saying that Canadians are ‘supposed to be able to start using this vehicle’ but it would appear that financial institutions are not yet ready for this. Check with your investment professional or financial institution now. Interested in more indepth real estate information? Download our free podcast app, available for IOS and Android devices, by going to boknows.homes/apps…. You can also receive daily briefings on Alexa by going to boknows.homes/alexa

lo…this is Bo Kauffmann of Remax in Winnipeg, with your flash briefing on Feel Good Friday, March 31st 2023 Today is National Crayon Day, National Prom Day and National Tater Day Ready for some ‘feel good stories?” I’ve got two of them A friend of mine owns a house painting company and had been searching for workers, unsuccessfully, for the past couple of years. He finally found some, in the form of a Ukrainian father-son team who had just landed in Winnipeg a few days earlier. My friend reports that they are eager to work and, best of all, experienced painters. Different setting, similar story: Another friend runs a exterior home renovation company and has also had problems finding workers. Problem solved when he found 3 ukraininan males who are not only eager to work but have decades of experience in aluminum siding installation. That same company is also offering a 10% discount on booking any exterior reno project this spring. Contact me for details… 204-333-2202 Im planning to make ‘Feel Good Friday” a regular thing. Let me know how you ‘feel’ about that? Interested in more indepth real estate information? Download our free podcast app, available for IOS and Android devices, by going to boknows.homes/apps…. You can also receive daily briefings on Alexa by going to boknows.homes/alexa

Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Thursday, March 30th, 2023… Today is National Doctors Day, National Take a walk in the park day and national turkey neck soup day. Where do they get this stuff? National walk in the park day….phaw. True North Real Estate Development has filed a request with city council to be given 1 yr to investigate the possibility of purchasing Portage Place Mall. What was once a jewel in downtown, Portage Place has been “a large, cumbersome and mostly vacant asset in a state of continuing decline in Winnipeg’s downtown for many years”, the filing claims. In national real estate news, The Canadian real estate association reports that on average, house prices have fallen 19% from their HIGH in Feb. 2022. As BMO chief economist predicted they would fall a total of 20-25%, realtors are now seeing buyers coming back into the market. While new listings are down 26% nationally, here in Winnipeg we are again bucking the trend. The 867 houses available on March 1st was more than double the number available the same day a year ago. With the Bank of Canada apparently signalling no further rate hikes, now is a good time for buyers to check out their options. Interested in more indepth real estate information? Download our free podcast app, available for IOS and Android devices, by going to boknows.homes/apps…. You can also receive daily briefings on Alexa by going to boknows.homes/alexa