We were unable to update this podcast for some time now. As a result, the information shown here might be outdated. If you are the owner of the podcast, you can validate that your RSS feed is available and correct.
It looks like this podcast has ended some time ago. This means that no new episodes have been added some time ago. If you're the host of this podcast, you can check whether your RSS file is reachable for podcast clients.
Bo Knows Real Estate
Tips, News and Advice for buyers and sellers of houses and condos.
Episodes
Winnipeg Condo Market Update for July 2020
6m · Published
Thinking of getting into home ownership, but want to avoid bidding wars? Want a nice place to call your own without spending too much? Consider Winnipeg Condos
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.240]What's Winnipeg condo market in July 2020? Coming up next.
[00:00:23.230]For those of you who have listened to or watched my housing market report for July 2020 in Winnipeg, you already know that the housing market is super hot. It's a super hot sellers market. Tough for buyers. Well, condos are kind of the opposite.
[00:00:38.430]Condos are and remain and have always been for the last five years a real strong buyer's market. It's a great opportunity for you to get into real estate, to become a homeowner if you don't want to endure the bidding wars of houses. You can find a really nice condo even for under 250,000 dollars. But Condos in the 250 plus range are superstrong buyer's market. They can sit there for several months. You won't likely get into a bidding war if you buy one and you can get a pretty good deal on these days.
[00:01:09.420]So let's take a look at what the market is like as an overview.
[00:01:12.570]Last year for this time period, for a month, we sold 82 condos in Winnipeg. Last month, we sold 78. And then in June, we sold 108. So it's not only faster than last month, but it outperforms last year as well. As for the most expensive condo it did hit one million dollars in the North Henderson Highway area. And you're going to see that the condo market this month actually outperforms not only last month, but last year as well.
[00:01:40.200]Let's take a look at the numbers of available condos for sale as of July 1st. We can see that last year, under two hundred and fifty thousand dollars. Last year we had 513 for sale. On June 1st, we had 354. And July 1st it was 369. So it's slightly more than last month, but it's way down from last year.
[00:02:02.350]Same thing for condos of two hundred and fifty thousand dollars. +, all the way up to as high as they go. And they do go for a million dollars in Winnipeg. That's pretty, pretty comparable to last year. Last year we had 323. This this month we had 302, which is virtually identical to the previous month as well. So that's remained fairly stable.
[00:02:21.390]But now looking at the sales, you're going to see that this month has outperformed the previous month and even the previous year condos under 250,000 dollars last year.
[00:02:30.930]This time period, we sold 35. This month, we sold fifty five. And for more luxurious condos, 250,000 dollars and up last year we sold 47. This year we sold 53. So even when compared to last year, which was a fairly active year, condo sales are up this year over last. What does all this mean? I'll explain when I come back.
[00:03:07.230]So with math formula, we combine the sale statistics and the available listing statistics and we come up with something that works out to be the days of inventory. This is basically answering the question that if nobody else listed their condo going forward, how long would it take to sell everything that's out there? And of course, the lower the number, the hotter the market. If we take a look at condos under 250,000 dollars last year, that number was 455 days.
[00:03:36.420]In other words, it would take nearly a year and a half to sell everything that's out there. This month, that number has dropped to 201. So that's twice as fast as last year.
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.240]What's Winnipeg condo market in July 2020? Coming up next.
[00:00:23.230]For those of you who have listened to or watched my housing market report for July 2020 in Winnipeg, you already know that the housing market is super hot. It's a super hot sellers market. Tough for buyers. Well, condos are kind of the opposite.
[00:00:38.430]Condos are and remain and have always been for the last five years a real strong buyer's market. It's a great opportunity for you to get into real estate, to become a homeowner if you don't want to endure the bidding wars of houses. You can find a really nice condo even for under 250,000 dollars. But Condos in the 250 plus range are superstrong buyer's market. They can sit there for several months. You won't likely get into a bidding war if you buy one and you can get a pretty good deal on these days.
[00:01:09.420]So let's take a look at what the market is like as an overview.
[00:01:12.570]Last year for this time period, for a month, we sold 82 condos in Winnipeg. Last month, we sold 78. And then in June, we sold 108. So it's not only faster than last month, but it outperforms last year as well. As for the most expensive condo it did hit one million dollars in the North Henderson Highway area. And you're going to see that the condo market this month actually outperforms not only last month, but last year as well.
[00:01:40.200]Let's take a look at the numbers of available condos for sale as of July 1st. We can see that last year, under two hundred and fifty thousand dollars. Last year we had 513 for sale. On June 1st, we had 354. And July 1st it was 369. So it's slightly more than last month, but it's way down from last year.
[00:02:02.350]Same thing for condos of two hundred and fifty thousand dollars. +, all the way up to as high as they go. And they do go for a million dollars in Winnipeg. That's pretty, pretty comparable to last year. Last year we had 323. This this month we had 302, which is virtually identical to the previous month as well. So that's remained fairly stable.
[00:02:21.390]But now looking at the sales, you're going to see that this month has outperformed the previous month and even the previous year condos under 250,000 dollars last year.
[00:02:30.930]This time period, we sold 35. This month, we sold fifty five. And for more luxurious condos, 250,000 dollars and up last year we sold 47. This year we sold 53. So even when compared to last year, which was a fairly active year, condo sales are up this year over last. What does all this mean? I'll explain when I come back.
[00:03:07.230]So with math formula, we combine the sale statistics and the available listing statistics and we come up with something that works out to be the days of inventory. This is basically answering the question that if nobody else listed their condo going forward, how long would it take to sell everything that's out there? And of course, the lower the number, the hotter the market. If we take a look at condos under 250,000 dollars last year, that number was 455 days.
[00:03:36.420]In other words, it would take nearly a year and a half to sell everything that's out there. This month, that number has dropped to 201. So that's twice as fast as last year.
Winnipeg Housing Market July 2020
5m · Published
Update on the real estate market for Winnipeg. Housing sales and listings stats for July 2020
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.240]Let's take a look at the real estate market conditions for July 2020 in Winnipeg.
[00:00:23.090] Well, hello, Winnipeg, it's Bo Kauffmann Remax Performance Realty, and it's July 2nd, 2020. And I take a look back at the sales and listings which happened over the last month or so, all of June.
[00:00:34.580]And you're going to see that we are in a super hot sellers market right now. And for example, last year for the month, we sold 786 houses in Winnipeg. This year we sold 861. So that alone is 10 percent more sales. But you're going to see that the listings for actually way down, which makes it an even hotter market. Similar story with condos last year and this time period, we sold 82 condos and Winnipeg this year we sold 108.
[00:01:03.030]So that's about 20 percent more or even 25 percent more. As for the market highlights for June, the most expensive house sold was 1.45 million in South Headingley. In fact, during the month, there were four houses sold for over a million dollars. And the most expensive condo hit one million dollars. And that's in the North Henderson Highway area. And as I mentioned earlier, the number of available houses substantially down quite a bit from last year.
[00:01:28.190]So let's take a look at available houses in Winnipeg. Last year this time, we had 1,866. And today we got 1,232. That's that's a huge drop. That's about a 35 percent drop in listings available for the buyers to pick from breaking that down among the different price ranges for houses under two hundred and fifty thousand. Last year we had 486 available this month, virtually the same as last month, 265 available in that price range.
[00:01:56.770]The mid-range homes, 250 to 500 thousand dollars. Last year we had 934. This month, we have 584 way down. So. And it's just about 10 more than last month. Luxury homes last year. 446 available. This month, 384. Again, a big drop over last year. Now the available listings are down, but sales are keeping up, or actually better than last year in most of these categories.
[00:02:25.400]Under two hundred and fifty thousand dollar homes last year, in a time period of June, we sold 203. This year, 199. virtually the same. Quarter million to half a million dollar homes last year, we sold 504. During June this year 570.
[00:02:41.630]And luxury homes as well. Last year we sold 79 in that time period, this year, 92. If you've been listening to my real estate reports over the past few years, you know, I put those numbers, that is the sales and the listings, together. And I come up with a quotient I called days of inventory that is kind of giving a number to how hot the market is. So let's take a look at houses under 250thousand dollars. You can see that maximum would be about 120 days. In fact, an average market would be around 90 days or so. Last year we were at 74. And this year, right now, this month, we're at 40 days. That is super, super hot sellers market.
[00:03:20.860]Houses for 250 to 500 thousand dollars are in a similar predicament. Maximum is 120 days. Average would be around 90 or so. Last year, 57. This year 31. If you've got a house in the 250 to 350, 375 range and it shows half decent, it's going to be gone in a few days.
[00:03:42.200]Luxury homes over half a million dollars, you know, a maximum about...
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.240]Let's take a look at the real estate market conditions for July 2020 in Winnipeg.
[00:00:23.090] Well, hello, Winnipeg, it's Bo Kauffmann Remax Performance Realty, and it's July 2nd, 2020. And I take a look back at the sales and listings which happened over the last month or so, all of June.
[00:00:34.580]And you're going to see that we are in a super hot sellers market right now. And for example, last year for the month, we sold 786 houses in Winnipeg. This year we sold 861. So that alone is 10 percent more sales. But you're going to see that the listings for actually way down, which makes it an even hotter market. Similar story with condos last year and this time period, we sold 82 condos and Winnipeg this year we sold 108.
[00:01:03.030]So that's about 20 percent more or even 25 percent more. As for the market highlights for June, the most expensive house sold was 1.45 million in South Headingley. In fact, during the month, there were four houses sold for over a million dollars. And the most expensive condo hit one million dollars. And that's in the North Henderson Highway area. And as I mentioned earlier, the number of available houses substantially down quite a bit from last year.
[00:01:28.190]So let's take a look at available houses in Winnipeg. Last year this time, we had 1,866. And today we got 1,232. That's that's a huge drop. That's about a 35 percent drop in listings available for the buyers to pick from breaking that down among the different price ranges for houses under two hundred and fifty thousand. Last year we had 486 available this month, virtually the same as last month, 265 available in that price range.
[00:01:56.770]The mid-range homes, 250 to 500 thousand dollars. Last year we had 934. This month, we have 584 way down. So. And it's just about 10 more than last month. Luxury homes last year. 446 available. This month, 384. Again, a big drop over last year. Now the available listings are down, but sales are keeping up, or actually better than last year in most of these categories.
[00:02:25.400]Under two hundred and fifty thousand dollar homes last year, in a time period of June, we sold 203. This year, 199. virtually the same. Quarter million to half a million dollar homes last year, we sold 504. During June this year 570.
[00:02:41.630]And luxury homes as well. Last year we sold 79 in that time period, this year, 92. If you've been listening to my real estate reports over the past few years, you know, I put those numbers, that is the sales and the listings, together. And I come up with a quotient I called days of inventory that is kind of giving a number to how hot the market is. So let's take a look at houses under 250thousand dollars. You can see that maximum would be about 120 days. In fact, an average market would be around 90 days or so. Last year we were at 74. And this year, right now, this month, we're at 40 days. That is super, super hot sellers market.
[00:03:20.860]Houses for 250 to 500 thousand dollars are in a similar predicament. Maximum is 120 days. Average would be around 90 or so. Last year, 57. This year 31. If you've got a house in the 250 to 350, 375 range and it shows half decent, it's going to be gone in a few days.
[00:03:42.200]Luxury homes over half a million dollars, you know, a maximum about...
Right now, BUYING is cheaper than RENTING!
5m · Published
Still renting? Interest rates are super low, and there is even a way to buy without having 5% down. Let me show you how.
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
[00:00:00.240]Are you currently renting and thinking you can't afford your own home? Let me dispelled that myth right now.
[00:00:22.680] So are you renting right now and wondering if or how you could afford a new home? Let me tell you what happened to a client of mine very recently. They called me at the end of May to tell me that they were they had been renting for about five years and everything was going okay until a noisy tenant moved in above them and they finally had it.
[00:00:40.720]So they were looking at alternatives, but they didn't initially think that they could afford it. I put them in touch with my mortgage specialist and this is what we came up with. So they were pre-approved for $300,000 and their initial plan was to find a stand-alone home. But in the south end of the city, St Vital, , Fort Richmond, Richmond West. Now there are neighborhoods in Winnipeg, where I can find you are really nice. home for 300,000 dollars or less. Standalone house. But St. Vital, , Fort Richmond, White Ridge. Those kind of areas are not among them. So after a few disappointing showings, we switched focus and we started looking at condos. Currently they lived in about an 800 square foot apartment, two bedrooms, one bath, outdoor parking, and they were paying 1,210 dollars a month. After looking about three or four condos. This is what we found them for $275,000 dollars.
[00:01:32.780]We got them a three level townhouse condo in Bridgewater. Here's what you've got on the main floor. You have a small office area plus closets and the laundry room, and that is the door to the attached garage. So they go from outdoor parking to a single attached indoor garage. On the second floor, we have a half bath, a really nice, open, modern kitchen with all the appliances, all stainless steel appliances included the patio door leading to the balcony and a large living room area.
[00:02:03.760]And the top floor features two good sized bedrooms, a main four piece bath and the large master bedroom with a full en-suite and lots of closet space. Now, as I said, their apartment was 800 square feet. This condo is 1,350 square feet. So let's take a look at how those costs compare. As I already said, they initially paid twelve hundred and ten dollars for rent plus hydro. So this condo, we got them for two hundred and seventy five thousand dollars.
[00:02:31.510]They put five percent down, but there's CMHC fees lumped into it, which is around four percent. So let's say that they had to mortgage a two hundred and seventy five thousand dollar mortgage and figure out what the interest is on that. So let's be generous and say they're paying 2.4% , which makes a monthly interest costs of 550 dollars. So, yes, the actual mortgage payment is going to be higher. But anything above the interest goes against their own mortgage payment. So that money is not lost. It's not an expense. It goes to pay down their own debt. The only real cost is the interest.
[00:03:06.670]After this, a property tax of 250 dollars per month and then a condo fee of 225 dollars a month. Now, hydro costs are going to be very similar as their rented space, as will insurance. The condo building insurance is actually included in the monthly condo fees.
[00:03:22.300]So all they have to do is add condo owners insurance, which is similar to renter's insurance. So add up all these costs and instead of 1,210 a...
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
[00:00:00.240]Are you currently renting and thinking you can't afford your own home? Let me dispelled that myth right now.
[00:00:22.680] So are you renting right now and wondering if or how you could afford a new home? Let me tell you what happened to a client of mine very recently. They called me at the end of May to tell me that they were they had been renting for about five years and everything was going okay until a noisy tenant moved in above them and they finally had it.
[00:00:40.720]So they were looking at alternatives, but they didn't initially think that they could afford it. I put them in touch with my mortgage specialist and this is what we came up with. So they were pre-approved for $300,000 and their initial plan was to find a stand-alone home. But in the south end of the city, St Vital, , Fort Richmond, Richmond West. Now there are neighborhoods in Winnipeg, where I can find you are really nice. home for 300,000 dollars or less. Standalone house. But St. Vital, , Fort Richmond, White Ridge. Those kind of areas are not among them. So after a few disappointing showings, we switched focus and we started looking at condos. Currently they lived in about an 800 square foot apartment, two bedrooms, one bath, outdoor parking, and they were paying 1,210 dollars a month. After looking about three or four condos. This is what we found them for $275,000 dollars.
[00:01:32.780]We got them a three level townhouse condo in Bridgewater. Here's what you've got on the main floor. You have a small office area plus closets and the laundry room, and that is the door to the attached garage. So they go from outdoor parking to a single attached indoor garage. On the second floor, we have a half bath, a really nice, open, modern kitchen with all the appliances, all stainless steel appliances included the patio door leading to the balcony and a large living room area.
[00:02:03.760]And the top floor features two good sized bedrooms, a main four piece bath and the large master bedroom with a full en-suite and lots of closet space. Now, as I said, their apartment was 800 square feet. This condo is 1,350 square feet. So let's take a look at how those costs compare. As I already said, they initially paid twelve hundred and ten dollars for rent plus hydro. So this condo, we got them for two hundred and seventy five thousand dollars.
[00:02:31.510]They put five percent down, but there's CMHC fees lumped into it, which is around four percent. So let's say that they had to mortgage a two hundred and seventy five thousand dollar mortgage and figure out what the interest is on that. So let's be generous and say they're paying 2.4% , which makes a monthly interest costs of 550 dollars. So, yes, the actual mortgage payment is going to be higher. But anything above the interest goes against their own mortgage payment. So that money is not lost. It's not an expense. It goes to pay down their own debt. The only real cost is the interest.
[00:03:06.670]After this, a property tax of 250 dollars per month and then a condo fee of 225 dollars a month. Now, hydro costs are going to be very similar as their rented space, as will insurance. The condo building insurance is actually included in the monthly condo fees.
[00:03:22.300]So all they have to do is add condo owners insurance, which is similar to renter's insurance. So add up all these costs and instead of 1,210 a...
Buying a Home in 2020 - Challenges and Solutions
7m · Published
If you're serious about buying a home in 2020, you will face 2 main challenges. Here is the one solutions to both:
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.240]Are you serious about buying a house or a condo in Winnipeg in the summer of 2020? You're up against two challenges. I'll talk about those and how to get to the head of the line right away.
[00:00:26.710] Hello again, everybody. It's Bo Kauffmann Remax Performance Realty. I'm a residential real estate agent in Winnipeg for the past 15 years and I enjoy working with buyers and sellers of houses and condos.
[00:00:37.420]If you're serious about buying a house or a condo in Winnipeg in the summer of 2020, you're up against two challenges. One is a super active market. And the others is Covid. I'll talk about both of those challenges right away and then give you a shortcut to get you to the head of the home shopping line. Please note I said if you're serious about buying a house or a condo in Winnipeg, I get a lot of calls from people saying, hey, I just want to see your listing.
[00:01:01.750]And when we talk about it a little bit further, they say, no, we're just starting to look or we're just curious. We just want to see it. So let me explain.
[00:01:10.180]When a seller hires a listing agent, that agent owes the homeowner a set of duties and responsibilities,.... responsibilities, which I take very seriously. Those responsibilities include not showing the home to anybody who is not pre-approved, not pre qualified, may or may not be able to afford it, and more importantly these days, to show the home only to those people who have been deemed to be covered free to the best of our ability.
[00:01:36.080]So if you're just browsing, just starting out, just looking, there are plenty of open houses still. You can go online, see virtual tours, even virtual open houses. Now, that's a great way to start, but don't call a listing agent to show you a house, because here is what's supposed to happen if you phone me. My first question to you is, are you pre-approved? Now, even that question has offended some callers, and I'm sorry for that.
[00:01:59.160]But as I said earlier, I owe the home seller, a responsibility that I'm not going to show the house to anybody who just makes a phone call. You've got to be pre-approved. My next question may be who are you pre-approved with? Because not all lenders are the same. I'm just now dealing with somebody who has gone through their third week of financing, continuing to get extensions on the financing condition. It's not acceptable. And these people were supposedly pre-approved.
[00:02:25.060]And another example, I met a young couple who came to me pre-approved by one of the smaller credit unions when it came time to make an offer. That credit union wanted a full week financing again in this active market, that's not sufficient. So not all lenders, not all mortgage lenders are the same, and some are definitely better than others. Another example may be that you need to sell your current home before you can buy one. There really is no point in looking at a house, especially these days, because when we make an appointment to get you into a house for a showing, that homeowner has to pack up and leave.
[00:02:58.120]That's under the COVID rules. The homeowner is not supposed to be in the house at the time. So we are really inconveniencing that seller to show the house to somebody who is not ready to buy. But
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.240]Are you serious about buying a house or a condo in Winnipeg in the summer of 2020? You're up against two challenges. I'll talk about those and how to get to the head of the line right away.
[00:00:26.710] Hello again, everybody. It's Bo Kauffmann Remax Performance Realty. I'm a residential real estate agent in Winnipeg for the past 15 years and I enjoy working with buyers and sellers of houses and condos.
[00:00:37.420]If you're serious about buying a house or a condo in Winnipeg in the summer of 2020, you're up against two challenges. One is a super active market. And the others is Covid. I'll talk about both of those challenges right away and then give you a shortcut to get you to the head of the home shopping line. Please note I said if you're serious about buying a house or a condo in Winnipeg, I get a lot of calls from people saying, hey, I just want to see your listing.
[00:01:01.750]And when we talk about it a little bit further, they say, no, we're just starting to look or we're just curious. We just want to see it. So let me explain.
[00:01:10.180]When a seller hires a listing agent, that agent owes the homeowner a set of duties and responsibilities,.... responsibilities, which I take very seriously. Those responsibilities include not showing the home to anybody who is not pre-approved, not pre qualified, may or may not be able to afford it, and more importantly these days, to show the home only to those people who have been deemed to be covered free to the best of our ability.
[00:01:36.080]So if you're just browsing, just starting out, just looking, there are plenty of open houses still. You can go online, see virtual tours, even virtual open houses. Now, that's a great way to start, but don't call a listing agent to show you a house, because here is what's supposed to happen if you phone me. My first question to you is, are you pre-approved? Now, even that question has offended some callers, and I'm sorry for that.
[00:01:59.160]But as I said earlier, I owe the home seller, a responsibility that I'm not going to show the house to anybody who just makes a phone call. You've got to be pre-approved. My next question may be who are you pre-approved with? Because not all lenders are the same. I'm just now dealing with somebody who has gone through their third week of financing, continuing to get extensions on the financing condition. It's not acceptable. And these people were supposedly pre-approved.
[00:02:25.060]And another example, I met a young couple who came to me pre-approved by one of the smaller credit unions when it came time to make an offer. That credit union wanted a full week financing again in this active market, that's not sufficient. So not all lenders, not all mortgage lenders are the same, and some are definitely better than others. Another example may be that you need to sell your current home before you can buy one. There really is no point in looking at a house, especially these days, because when we make an appointment to get you into a house for a showing, that homeowner has to pack up and leave.
[00:02:58.120]That's under the COVID rules. The homeowner is not supposed to be in the house at the time. So we are really inconveniencing that seller to show the house to somebody who is not ready to buy. But
Winnipeg Real Estate Market Update June 2020
7m · Published
Housing Market Report for Winnipeg on June 1st 2020
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.150]What's the real estate market on June 1st 2020 in Winnipeg? Coming up next.
[00:00:20.710]Well, it's time to take a close look at what the real estate market is doing and Winnipeg, this is at the beginning of June 2020. You know, I get phone calls just about every day.
[00:00:29.490]I got a call from a nice older lady saying, you know, right now with all this Covid stuff, this must be a terrible time to be selling your house? And really nothing could be further from the truth. You're going to see that in the last month, that's the month of May, sales have nearly doubled over April. Yet the numbers of available listings has not kept up. So you're going to see all the indicators are towards a much, much stronger seller market than normal.
[00:00:55.260]There is buyers are coming out, but they're just not finding the available homes. There's one thing I'm doing different this month, and that is that this is specifically for houses. I will do a separate podcast for condominiums because they really are a separate market all to their own. So let's take a look at some of the highlights. For the month of March, the most expensive house sold in the month of March was 1.5 million in tuxedo.
[00:01:17.880]And the most expensive condo was a brand new construction condo. F$488,000 in the S.St Vial area. In May 2019. We sold 758 houses. Now, compare that to the sales of April this year. They were 375 houses, but in May we bounced right back to 641 houses sold in Winnipeg. That's fast approaching the norm, which was kind of last year. So let's break that down a little bit further in the price ranges under two hundred and fifty thousand dollars on June 1st.
[00:01:51.450]Last year we had 444 homes available. In April, we had 285. And in May this year, we're down even further at 269. So the available homes in this price range keeps dropping. But buyers are coming out. So if you've got a house in that price range, now is the time to list that.
[00:02:10.220]Looking at the mid price range, these are homes between a quarter million and a half million dollars. Last year we had 778 available. At the end of April, we had 590. And at the end of May or June 1st, we only have 575. Again, the available number of homes has steadily drop and it's much below normal.
[00:02:31.390]And a slightly different picture in the luxury homes sections last year. These are homes of 500,000 dollars or more. Last year we had 413 at the end of April. This year we had 338.
[00:02:44.730]And on June 1st this year, the inventory bounced up a little bit to 368. So let's take a look at sales over the past month. So last year, during the month of May, we sold 187 entry level homes in May. This year we sold only 93. So that's about half. And now in May 2020, that jumped back up to 157. So almost on par with what it was. like mid-range homes, 250 to 500,000 dollars last year in May, we sold 487. April this year 247 again 1/2.
[00:03:18.630]And that bounced right back and made this year to 418 almost on level with what it was. Now, as far as luxury homes go, last year we sold 85 of those in the month of May.
[00:03:29.850]This year in April, that dropped down to 35. But this year in May, it went back up to 66 homes. As you can see, sales have nearly doubled over last month. But in most cases, inventory, the available number
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.150]What's the real estate market on June 1st 2020 in Winnipeg? Coming up next.
[00:00:20.710]Well, it's time to take a close look at what the real estate market is doing and Winnipeg, this is at the beginning of June 2020. You know, I get phone calls just about every day.
[00:00:29.490]I got a call from a nice older lady saying, you know, right now with all this Covid stuff, this must be a terrible time to be selling your house? And really nothing could be further from the truth. You're going to see that in the last month, that's the month of May, sales have nearly doubled over April. Yet the numbers of available listings has not kept up. So you're going to see all the indicators are towards a much, much stronger seller market than normal.
[00:00:55.260]There is buyers are coming out, but they're just not finding the available homes. There's one thing I'm doing different this month, and that is that this is specifically for houses. I will do a separate podcast for condominiums because they really are a separate market all to their own. So let's take a look at some of the highlights. For the month of March, the most expensive house sold in the month of March was 1.5 million in tuxedo.
[00:01:17.880]And the most expensive condo was a brand new construction condo. F$488,000 in the S.St Vial area. In May 2019. We sold 758 houses. Now, compare that to the sales of April this year. They were 375 houses, but in May we bounced right back to 641 houses sold in Winnipeg. That's fast approaching the norm, which was kind of last year. So let's break that down a little bit further in the price ranges under two hundred and fifty thousand dollars on June 1st.
[00:01:51.450]Last year we had 444 homes available. In April, we had 285. And in May this year, we're down even further at 269. So the available homes in this price range keeps dropping. But buyers are coming out. So if you've got a house in that price range, now is the time to list that.
[00:02:10.220]Looking at the mid price range, these are homes between a quarter million and a half million dollars. Last year we had 778 available. At the end of April, we had 590. And at the end of May or June 1st, we only have 575. Again, the available number of homes has steadily drop and it's much below normal.
[00:02:31.390]And a slightly different picture in the luxury homes sections last year. These are homes of 500,000 dollars or more. Last year we had 413 at the end of April. This year we had 338.
[00:02:44.730]And on June 1st this year, the inventory bounced up a little bit to 368. So let's take a look at sales over the past month. So last year, during the month of May, we sold 187 entry level homes in May. This year we sold only 93. So that's about half. And now in May 2020, that jumped back up to 157. So almost on par with what it was. like mid-range homes, 250 to 500,000 dollars last year in May, we sold 487. April this year 247 again 1/2.
[00:03:18.630]And that bounced right back and made this year to 418 almost on level with what it was. Now, as far as luxury homes go, last year we sold 85 of those in the month of May.
[00:03:29.850]This year in April, that dropped down to 35. But this year in May, it went back up to 66 homes. As you can see, sales have nearly doubled over last month. But in most cases, inventory, the available number
Real Estate Market Quickie report for May 2020
2m · Published
Recent sales stories point to the fact that right now, the spring market is starting.
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
Looking after and reporting on historic stats is easy….. extrapolating information from those stats, and predicting the future is harder. Unless
A few very loud and obvious facts jump out, making it easier to interpret.
For example:
2 weeks ago I listed a bungaow in the west st james area for $250,000.
It ended up with 45 showings and 15 offers, and sold for $30grand over asking.
But one example does not make a trend
So this past week, I listed another bungalow, this one in north kildonan, for $260K.
46 showings, 10 offers and sold for 23K above asking.
So 91 showings, and 25 offers on these two listings.
Seeing a trend? Two different parts of the city, but both homes are smack in the middle of Winnipeg’s most popular price range category….
Why is this happening?
Well, lets look at available listings.
Last year, this time, we had 1635 homes for sale in Winnipeg.
Today, that number is 1273. That is 22% fewer listings than the same time last year.
So if you’re thinking of selling your Winnipeg home, NOW is the perfect time. Listings are down, but buyer activity (91 showings, 25 offers on two homes) is up.
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
Looking after and reporting on historic stats is easy….. extrapolating information from those stats, and predicting the future is harder. Unless
A few very loud and obvious facts jump out, making it easier to interpret.
For example:
2 weeks ago I listed a bungaow in the west st james area for $250,000.
It ended up with 45 showings and 15 offers, and sold for $30grand over asking.
But one example does not make a trend
So this past week, I listed another bungalow, this one in north kildonan, for $260K.
46 showings, 10 offers and sold for 23K above asking.
So 91 showings, and 25 offers on these two listings.
Seeing a trend? Two different parts of the city, but both homes are smack in the middle of Winnipeg’s most popular price range category….
Why is this happening?
Well, lets look at available listings.
Last year, this time, we had 1635 homes for sale in Winnipeg.
Today, that number is 1273. That is 22% fewer listings than the same time last year.
So if you’re thinking of selling your Winnipeg home, NOW is the perfect time. Listings are down, but buyer activity (91 showings, 25 offers on two homes) is up.
Selling Your Home - How Important are Timing and Pricing?
7m · Published
Can the time of year play a difference when selling your home? How about setting the best 'listing price'? Get the answer in these two stories.
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.150]What kind of an effect can the proper pricing and timing have when selling your home in Winnipeg? Coming up next.
[00:00:25.460] So if you're thinking of selling your house or condo in Winnipeg, timing the market is important and pricing correctly for wherever that time of year is. Not every market is the same. Spring market is different than the summer and the winter and the fall is different again.
[00:00:40.640]I've got two real life examples of what a difference pricing and marketing time can make. And the first one kind of talks about the difference of pricing. Recently, I had occasion to do research in an area in St. Boniface where two homes were sold on the same street. They were basically identical homes built probably by the same builder. Certainly the same size, the same style, built the same year. But inside they were quite a bit different.
[00:01:08.090]The first home we look at was listed at the end of August. Generally, the market in Winnipeg starts to slow down in August, especially towards the end end and in September. People have bought their houses. They're now concerned about moving in, getting their kids in school and stuff like that. So at the end of August is generally not a great time to list the house. This one in particular had been updated extensively. New bathrooms, new kitchen windows, flooring, electrical, was extensively renovated, looked really, really gorgeous.
[00:01:35.840]And they priced it at $285,000, which is probably fair for that market and that house. It took 40 days to sell and they eventually sold it for 275. So 10,000 under and it took six weeks to sell. Now look at another house. Same street. It was listed at the beginning of June. And that is still traditionally part of the spring market. Things are still active. People are still looking very much looking, especially the beginning of June.
[00:02:01.790]Same kind of house, same size, layout, number of bedrooms, number of bathrooms on the same street. But that's where the similarities end. It had an old kitchen, old bathroom. Couple of the windows were updated, but not much else. So they priced us at $249,900. Now remember, it's still spring market, $249K. They got multiple offers and it sold for $273,000, just two grand below the one that was completely updated and finished.
[00:02:29.870]So that's the benefit of listing at the right time of year when there's still multiple bids, multiple offers happening. It doesn't seem fair, but that's just the way. Just the way it is. If you can avoid listing at the end of August, do so. Hold off for a little while. Market generally does pick up again at the end of September, beginning of October. But if you don't have a choice, you don't have a choice.
[00:02:52.430]You have to just kind of make the best of it. But spring market is definitely the best time to list. And my next story is going to be an even wilder example. Unbelievable. So stay tuned.
[00:03:17.240]This next example. I was actually intimately involved with both of them. I saw both houses inside and out. These homes are located in River Heights. And just like the previous example, they're on the same block, same street, same side of the street. So they're facing the same way, the same sun exposure. Probably built by
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:00.150]What kind of an effect can the proper pricing and timing have when selling your home in Winnipeg? Coming up next.
[00:00:25.460] So if you're thinking of selling your house or condo in Winnipeg, timing the market is important and pricing correctly for wherever that time of year is. Not every market is the same. Spring market is different than the summer and the winter and the fall is different again.
[00:00:40.640]I've got two real life examples of what a difference pricing and marketing time can make. And the first one kind of talks about the difference of pricing. Recently, I had occasion to do research in an area in St. Boniface where two homes were sold on the same street. They were basically identical homes built probably by the same builder. Certainly the same size, the same style, built the same year. But inside they were quite a bit different.
[00:01:08.090]The first home we look at was listed at the end of August. Generally, the market in Winnipeg starts to slow down in August, especially towards the end end and in September. People have bought their houses. They're now concerned about moving in, getting their kids in school and stuff like that. So at the end of August is generally not a great time to list the house. This one in particular had been updated extensively. New bathrooms, new kitchen windows, flooring, electrical, was extensively renovated, looked really, really gorgeous.
[00:01:35.840]And they priced it at $285,000, which is probably fair for that market and that house. It took 40 days to sell and they eventually sold it for 275. So 10,000 under and it took six weeks to sell. Now look at another house. Same street. It was listed at the beginning of June. And that is still traditionally part of the spring market. Things are still active. People are still looking very much looking, especially the beginning of June.
[00:02:01.790]Same kind of house, same size, layout, number of bedrooms, number of bathrooms on the same street. But that's where the similarities end. It had an old kitchen, old bathroom. Couple of the windows were updated, but not much else. So they priced us at $249,900. Now remember, it's still spring market, $249K. They got multiple offers and it sold for $273,000, just two grand below the one that was completely updated and finished.
[00:02:29.870]So that's the benefit of listing at the right time of year when there's still multiple bids, multiple offers happening. It doesn't seem fair, but that's just the way. Just the way it is. If you can avoid listing at the end of August, do so. Hold off for a little while. Market generally does pick up again at the end of September, beginning of October. But if you don't have a choice, you don't have a choice.
[00:02:52.430]You have to just kind of make the best of it. But spring market is definitely the best time to list. And my next story is going to be an even wilder example. Unbelievable. So stay tuned.
[00:03:17.240]This next example. I was actually intimately involved with both of them. I saw both houses inside and out. These homes are located in River Heights. And just like the previous example, they're on the same block, same street, same side of the street. So they're facing the same way, the same sun exposure. Probably built by
Winnipeg Real Estate Market Update May 2020
8m · Published
Looking at the sales of homes and condos during April 2020. How did Winnipeg's real estate market do during the first full month of the pandemic?
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:23.390]Welcome, everybody. It's mMay first and I take a look back at all the sales in April, the entire month, and that is the first full month in this pandemic, as you may remember. The markets, everything was shut down around the middle of March.
[00:00:36.460]So March's report was still half normal, half pandemic. So now we're taking a look at the first full month to see what numbers have done. Bottom line listenings her down, sales are down, but the intensity remains. I'll show you what I mean. And I usually compare to the previous month. But really, the best way to compare is to the same time period previous year.. So what we have is last year in April, we sold 85 condos.
[00:01:01.720]This year, 42. So that's half. Last year we sold 558 houses in that time period. This year, just 375. These are numbers for inside Winnipeg. And they're gonna be different than what Winnipeg REALTORS® puts out simply because Winnipeg REALTORS® covers the entire south east quadrant of Manitoba, including Steinbach and Portage LaPrairie and Selkirk, whereas I'm looking at only Winnipeg. All right, let's look at available listings. So last year, this is under a quarter million dollars.
[00:01:30.280]Last year we had 363. This year we've got 285. So that's quite a bit down. Last year, 250000 to five hundred thousand dollar homes. At the end of April, we had 694 this year, just 590. So that's down about 14, 15 percent. And the luxury homes last year we had 378 available this year, just 338. So that's about 40 down. That's another 10, 11 percent.
[00:01:57.460]So as I mentioned before, listings are down, but so are sales last year, quarter million dollars or less. We sold 156 homes, this year just 93. In the 250 to five hundred thousand dollar range, Last year we sold 357, this year, just 247. So that's about a 30 percent drop.
[00:02:16.270]And last year, in the luxury home range of half million or more, we sold 45 homes this year, just 35. So as you can see, listings are down and sales are down. So how do you correlate the numbers? I mean, if one of them is significantly different than the other, it will have an effect on whether it becomes a buyer's market or a seller's market. And to look at that, we take what's called an inventory quotient.
[00:02:38.350]So we take a look at how many days it would take to sell everything that's out there at the current sales rate. The lower the number, the hotter the market.
[00:02:47.000]So last year, under 250000 dollars, it was 72 days. This year, it's 92 days. So it would take an extra 20 days to sell everything that's out there so that it's become a slower market than last year, same time. The same holds true for all the other price ranges at 250 to five hundred thousand dollar homes last year with 60 days.
[00:03:07.300]This year it's 72. And for luxury homes, last year, 260 days, this year 290. The difference between last year and this year will become even more pronounced in the condo section, as we're going to see right away.
[00:03:20.740]Comparing last year to this year under 250000 dollars last year, we had 383 Condos available. This year, just 322. So that's about almost 20 percent less listings. Quarter million and up. Last year we had 312 available this year 290....
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
[00:00:23.390]Welcome, everybody. It's mMay first and I take a look back at all the sales in April, the entire month, and that is the first full month in this pandemic, as you may remember. The markets, everything was shut down around the middle of March.
[00:00:36.460]So March's report was still half normal, half pandemic. So now we're taking a look at the first full month to see what numbers have done. Bottom line listenings her down, sales are down, but the intensity remains. I'll show you what I mean. And I usually compare to the previous month. But really, the best way to compare is to the same time period previous year.. So what we have is last year in April, we sold 85 condos.
[00:01:01.720]This year, 42. So that's half. Last year we sold 558 houses in that time period. This year, just 375. These are numbers for inside Winnipeg. And they're gonna be different than what Winnipeg REALTORS® puts out simply because Winnipeg REALTORS® covers the entire south east quadrant of Manitoba, including Steinbach and Portage LaPrairie and Selkirk, whereas I'm looking at only Winnipeg. All right, let's look at available listings. So last year, this is under a quarter million dollars.
[00:01:30.280]Last year we had 363. This year we've got 285. So that's quite a bit down. Last year, 250000 to five hundred thousand dollar homes. At the end of April, we had 694 this year, just 590. So that's down about 14, 15 percent. And the luxury homes last year we had 378 available this year, just 338. So that's about 40 down. That's another 10, 11 percent.
[00:01:57.460]So as I mentioned before, listings are down, but so are sales last year, quarter million dollars or less. We sold 156 homes, this year just 93. In the 250 to five hundred thousand dollar range, Last year we sold 357, this year, just 247. So that's about a 30 percent drop.
[00:02:16.270]And last year, in the luxury home range of half million or more, we sold 45 homes this year, just 35. So as you can see, listings are down and sales are down. So how do you correlate the numbers? I mean, if one of them is significantly different than the other, it will have an effect on whether it becomes a buyer's market or a seller's market. And to look at that, we take what's called an inventory quotient.
[00:02:38.350]So we take a look at how many days it would take to sell everything that's out there at the current sales rate. The lower the number, the hotter the market.
[00:02:47.000]So last year, under 250000 dollars, it was 72 days. This year, it's 92 days. So it would take an extra 20 days to sell everything that's out there so that it's become a slower market than last year, same time. The same holds true for all the other price ranges at 250 to five hundred thousand dollar homes last year with 60 days.
[00:03:07.300]This year it's 72. And for luxury homes, last year, 260 days, this year 290. The difference between last year and this year will become even more pronounced in the condo section, as we're going to see right away.
[00:03:20.740]Comparing last year to this year under 250000 dollars last year, we had 383 Condos available. This year, just 322. So that's about almost 20 percent less listings. Quarter million and up. Last year we had 312 available this year 290....
Winnipeg Exchange District - Living and Working
10m · Published
Living and working in Winnipeg's Exchange District. Interview with someone who knows!
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
A few links:
Productivity & work-at-home resources ( https://saganmorrow.com/resources/)
Indie Author Weekly podcast ( https://saganmorrow.com/podcast)
@Saganlives on Instagram ( https://www.instagram.com/saganlives/)
What's Winnipeg's Exchange District like? Let's talk to somebody who lives and works there. That's coming up next.
[00:00:10.100]You're listening to the Bo Knows Real Estate podcast, tips and advice for homebuyers, buyers, sellers and owners with award winning Remax agent Bo Kauffmann.
[00:00:25.860] - Bo Kauffmann - REMAXWinnipeg has a lot of fantastic neighborhoods, some well known like Osborn Village and Corydon Village, and another rapidly growing and expanding district is the Winnipeg's Exchange District. Now, some of you may know I've been publishing a blog for all going on 12 years now, and I've been publishing a podcast for about eight or 10 years.
[00:00:45.270] - Bo Kauffmann - REMAXAnd a young lady by the name of Sagan Morrow has been writing articles for my blog almost from about 10 years ago. And I know she has a condo in the exchange district. So I went to her when I wanted to talk to somebody about life and work in that district. I reached out to her and she was more than willing to come on to the podcast. So by way of introduction, Sagan Morrow teaches busy, time crunched solopreneurs, how to build their own successful home based businesses without the overwhelm, through online courses and business resources at Sagan Morrow. com I'll have the links in the show notes. She specializes in productivity tips and action oriented strategic planning for multi passionate creatives. Sagan has over a decade of experience as a freelance writer and hosts the indie author weekly podcast. When she isn't teaching solopreneurs or doing freelance work for her own clients, Sagan likes to write romance novels. All right. So I'm here with Sagan, moral productivity strategist and author and Sagan that's been living in Winnipeg exchange district in a condo for quite a while.
[00:01:58.440] - Sagan MorrowHow many years, Sagan?
[00:01:59.940] - Sagan MorrowIt's been ten years now.
[00:02:02.880] - Bo Kauffmann - REMAXAnd same place in a condo?
[00:02:04.760] - Sagan MorrowYes. Yes. I bought my condo. ( https://blog.winnipeghomefinder.com/buying-a-condo-infographic/) I lived. I lived in author and village briefly. And then in West Broadway. And then this is the first the first condo that I bought. It was the first place I ever even looked at when I was looking for a home. And I just fell in love with it immediately. And I bought it and I. I've been here ever since. I'm very happy here.
[00:02:25.500] - Bo Kauffmann - REMAXIs it one of those, like I'm not asking for your address here, but is that one of these, like, warehouses that's been converted which what the exchange district is really known for?
[00:02:34.230] - Sagan MorrowYes, that's exactly what it is. You've got like exposed brick and all that. Yeah, OK. Very nice. All right.
[00:02:42.000] - Bo Kauffmann - REMAXSo you've lived in always the like he said Osborne Village and some of the other nice areas. What do you like about the exchange district?
[00:02:48.630] - Sagan MorrowYou know, it's been really wonderful to live here over the past 10 years and see how much...
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
A few links:
Productivity & work-at-home resources ( https://saganmorrow.com/resources/)
Indie Author Weekly podcast ( https://saganmorrow.com/podcast)
@Saganlives on Instagram ( https://www.instagram.com/saganlives/)
What's Winnipeg's Exchange District like? Let's talk to somebody who lives and works there. That's coming up next.
[00:00:10.100]You're listening to the Bo Knows Real Estate podcast, tips and advice for homebuyers, buyers, sellers and owners with award winning Remax agent Bo Kauffmann.
[00:00:25.860] - Bo Kauffmann - REMAXWinnipeg has a lot of fantastic neighborhoods, some well known like Osborn Village and Corydon Village, and another rapidly growing and expanding district is the Winnipeg's Exchange District. Now, some of you may know I've been publishing a blog for all going on 12 years now, and I've been publishing a podcast for about eight or 10 years.
[00:00:45.270] - Bo Kauffmann - REMAXAnd a young lady by the name of Sagan Morrow has been writing articles for my blog almost from about 10 years ago. And I know she has a condo in the exchange district. So I went to her when I wanted to talk to somebody about life and work in that district. I reached out to her and she was more than willing to come on to the podcast. So by way of introduction, Sagan Morrow teaches busy, time crunched solopreneurs, how to build their own successful home based businesses without the overwhelm, through online courses and business resources at Sagan Morrow. com I'll have the links in the show notes. She specializes in productivity tips and action oriented strategic planning for multi passionate creatives. Sagan has over a decade of experience as a freelance writer and hosts the indie author weekly podcast. When she isn't teaching solopreneurs or doing freelance work for her own clients, Sagan likes to write romance novels. All right. So I'm here with Sagan, moral productivity strategist and author and Sagan that's been living in Winnipeg exchange district in a condo for quite a while.
[00:01:58.440] - Sagan MorrowHow many years, Sagan?
[00:01:59.940] - Sagan MorrowIt's been ten years now.
[00:02:02.880] - Bo Kauffmann - REMAXAnd same place in a condo?
[00:02:04.760] - Sagan MorrowYes. Yes. I bought my condo. ( https://blog.winnipeghomefinder.com/buying-a-condo-infographic/) I lived. I lived in author and village briefly. And then in West Broadway. And then this is the first the first condo that I bought. It was the first place I ever even looked at when I was looking for a home. And I just fell in love with it immediately. And I bought it and I. I've been here ever since. I'm very happy here.
[00:02:25.500] - Bo Kauffmann - REMAXIs it one of those, like I'm not asking for your address here, but is that one of these, like, warehouses that's been converted which what the exchange district is really known for?
[00:02:34.230] - Sagan MorrowYes, that's exactly what it is. You've got like exposed brick and all that. Yeah, OK. Very nice. All right.
[00:02:42.000] - Bo Kauffmann - REMAXSo you've lived in always the like he said Osborne Village and some of the other nice areas. What do you like about the exchange district?
[00:02:48.630] - Sagan MorrowYou know, it's been really wonderful to live here over the past 10 years and see how much...
Aluminum Wiring in your home? - Whats the big deal?
6m · Published
Why are insurance companies getting concerned about aluminum wiring? What should a home owner, or a home buyer, look out for?
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
Bo Kauffmann 0:00
Do you currently own or are looking to buy a home which has aluminum wiring? What's the big deal? We'll talk about that next.
Unknown Speaker 0:10
You're listening to the bone nose real estate podcast tips and advice for home buyers, sellers and owners with award winning REMAX Agent Bo Kauffmann.
Bo Kauffmann 0:24
You've probably heard that insurance companies are paying special attention to homes which have aluminum wiring. Well, what's the problem? Really, there isn't any problem. Aluminum is still being used today in industrial and commercial application. So for example, large warehouses, office buildings, industrial complexes and everything. It's being used today by companies because it's about a third the price of copper, a ton of aluminum right now costs about 1500 dollars US while a ton of copper costs well over $5,000 us and so it was that back in the 1960s a residential home builders thought They might have a better cheaper product on their hands. So you're looking at the prices of copper in 1962, they were about 30 cents a pound. And by 1966, they had more than doubled. So homebuilders, even though for for a single home, it might only be 100 or $200 difference, but if a home builder builds 234 hundred homes a year, it can add up.
So they're looking for cheaper alternatives, and they settled on aluminum. Now like I said, What's the problem with aluminum? Well, there's no problem as long as it's treated correctly and upgraded correctly.
And here's what happens. Let's say you have a 1970 bungalow that was built by a builder using aluminum wiring, they would have used aluminum switches, aluminum plugs, aluminum rated light fixtures, all those things are called devices by electricians. So all the devices that would hook into that house would be rated for aluminum.
Now fast forward to 1995 as an example, the current owner of the home wanted to give it an update. So new paint, new floor. And of course, we're going to update the lights and why not update the switches and wall plugs to make them look more modern. So you go to Home Depot, and you find that a copper light switch is $1, whereas an aluminum rated light switch is $8. So what most people do well, they go with the cheaper stuff. And that's when the problem comes in.
You'll have aluminum wiring, hooked into copper light switch, aluminum and copper, very dissimilar metals, they will heat and cool and shrink and expand at different rates. And over the years as this happens, they'll start to work themselves loose, causing corrosion and eventual sparking and that's what causes fires. Until a few years ago, insurance companies had grandfathered these types of homes. So if you owned a home for the last 20 years, insurance companies weren't bothering you. If you went out and bought a home then a new buyer would be required by insurance companies to get an inspection, electrical inspection with a certificate to show that they All the wiring is safe and has been treated properly. The devices are the right ones. And if they're not that they're at least hooked up in a correct way.
That was until recently. However, now insurance companies are even sending letters out to owners of homes that are...
For more real estate info, check my blog at ( https://blog.winnipeghomefinder.com )
Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to ( https://apps.apple.com/us/app/winnipeg-real-estate-news/id1098802561)
For your Android Devices, click here to ( https://play.google.com/store/apps/details?id=com.bokauffmann.android.winnipeg&hl=en )
Check my ( https://www.youtube.com/channel/UCnx1SxuUFDh_crVG4EZPlqA?view_as=subscriber )
Bo Kauffmann 0:00
Do you currently own or are looking to buy a home which has aluminum wiring? What's the big deal? We'll talk about that next.
Unknown Speaker 0:10
You're listening to the bone nose real estate podcast tips and advice for home buyers, sellers and owners with award winning REMAX Agent Bo Kauffmann.
Bo Kauffmann 0:24
You've probably heard that insurance companies are paying special attention to homes which have aluminum wiring. Well, what's the problem? Really, there isn't any problem. Aluminum is still being used today in industrial and commercial application. So for example, large warehouses, office buildings, industrial complexes and everything. It's being used today by companies because it's about a third the price of copper, a ton of aluminum right now costs about 1500 dollars US while a ton of copper costs well over $5,000 us and so it was that back in the 1960s a residential home builders thought They might have a better cheaper product on their hands. So you're looking at the prices of copper in 1962, they were about 30 cents a pound. And by 1966, they had more than doubled. So homebuilders, even though for for a single home, it might only be 100 or $200 difference, but if a home builder builds 234 hundred homes a year, it can add up.
So they're looking for cheaper alternatives, and they settled on aluminum. Now like I said, What's the problem with aluminum? Well, there's no problem as long as it's treated correctly and upgraded correctly.
And here's what happens. Let's say you have a 1970 bungalow that was built by a builder using aluminum wiring, they would have used aluminum switches, aluminum plugs, aluminum rated light fixtures, all those things are called devices by electricians. So all the devices that would hook into that house would be rated for aluminum.
Now fast forward to 1995 as an example, the current owner of the home wanted to give it an update. So new paint, new floor. And of course, we're going to update the lights and why not update the switches and wall plugs to make them look more modern. So you go to Home Depot, and you find that a copper light switch is $1, whereas an aluminum rated light switch is $8. So what most people do well, they go with the cheaper stuff. And that's when the problem comes in.
You'll have aluminum wiring, hooked into copper light switch, aluminum and copper, very dissimilar metals, they will heat and cool and shrink and expand at different rates. And over the years as this happens, they'll start to work themselves loose, causing corrosion and eventual sparking and that's what causes fires. Until a few years ago, insurance companies had grandfathered these types of homes. So if you owned a home for the last 20 years, insurance companies weren't bothering you. If you went out and bought a home then a new buyer would be required by insurance companies to get an inspection, electrical inspection with a certificate to show that they All the wiring is safe and has been treated properly. The devices are the right ones. And if they're not that they're at least hooked up in a correct way.
That was until recently. However, now insurance companies are even sending letters out to owners of homes that are...
Bo Knows Real Estate has 71 episodes in total of non- explicit content. Total playtime is 11:32:57. The language of the podcast is English. This podcast has been added on August 24th 2022. It might contain more episodes than the ones shown here. It was last updated on October 5th, 2022 11:26.
Similar Podcasts
Every Podcast » Podcasts » Bo Knows Real Estate