Resale Homes
Resale Homes
Sold
North End
Address: 868 College Ave.
Asking Price: $105,900
Sold Price: $116,000
Taxes: $1,045.23
Square Footage: 1,072
Bedrooms: 2
Bathrooms: 1
Lot Size: 25 x 91
Listing Agent: Michael Leclerc, Century 21 Carrie.com, 987-2166
St. James
Address: 106-1460 Portage Ave.
Asking Price: $89,900
Sold Price: $85,000
Taxes: $ 1,717.81
Square Footage: 810
Bedrooms: 1
Bathrooms: 1
Listing Agent: Sandy Lopston, Coldwell Banker National Preferred, 985-4300
Transcona
Address: 113-1683 Plessis
Asking Price: $119,900
Sold Price: $119,000
Taxes: $1,294
Square Footage: 903
Bedrooms: 2
Bathrooms: 1
Listing Agent: James Born, Newman Greenberg & Associates, 784-3378
Fort Richmond
Address: 422-3081 Pembina Hwy
Asking Price: $139,900
Sold Price: $138,500
Taxes: $1,672.00
Square Footage: 1,132
Bedrooms: 2
Bathrooms: 1
Lot Size: N/a
Selling Agent: Shawn Sommers, Century21carrie.com, 987-2100
North Kildonan
Address: 259 Strood Avenue
Asking Price: $189,900
Sold Price: $195,100
Taxes: $2,596.36
Square Footage: 809
Bedrooms: 2
Bathrooms: 1
Lot Size: n/a
Listing Agents: Marnie and Laura Ross, Newman Greenberg & Associates, 784-3555
Offered At
St. John's
Address: 386 Aikins Street
Asking Price: $89,900
Taxes: $755.62
Square Footage: 1,520
Bedrooms: 4
Bathrooms: 2
Lot Size: 30 x 100
Listing Agent: Shawn Sommers, Century21carrie.com, 987-2100
Westwood
Address: 282 Whitegates Crescent
Asking Price: $229,900
Taxes: $2,948.36
Square Footage: 1,118
Bedrooms: 3
Bathrooms: 2
Lot Size: 52 x 107
Listing Agent: Michael Leclerc, Century 21 Carrie.com, 987-2166
Tuxedo
Address: 310 Laidlaw Boulevard
Asking Price: $449,900
Taxes: $ 4,490.74
Square Footage: 1,902
Bedrooms: 2
Bathrooms: 3
Lot Size: 75 x 130
Listing Agents: Marnie and Laura Ross, Newman Greenberg and Associates, 784-3555
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Resale Homes
House prices falling all over, but not in Winnipeg
IF you're in the market for a new home this spring, local realtor Bo Kauffman has an important piece of advice.
"If you are seriously looking for a house in Winnipeg, turn off CNN," says Kauffmann, a realtor with Re/Max Performance Realty.
He says Winnipeg makes up only two per cent of the national housing market, a small fraction of the big real estate picture. While the real estate market may be plummeting in other cities across Canada, and particularly in the U.S., Winnipeg housing values are holding their own.
"The real estate market is very local," Kauffman says. "It's as tough as ever to get a good house in Winnipeg."
Kauffman shared his advice with potential homebuyers at a seminar last week that included the views of Lewis Penner of Crosstown Civic Credit Union and David Vincent of the Tacium Vincent Orlikow law office.
This is the third year that the trio has put on the free seminar to give first-time buyers and others who haven't been in the market for awhile an education on market conditions and information on what to expect in the home-buying process. Combined, the realtor, lender and lawyer provide information on all angles of buying a house.
"In real estate, buyers have the same questions over and over again," Kauffmann says. "My best friend is an educated buyer."
The Winnipeg market is as hot as ever, Kauffmann tells clients, so don't expect discount deals. Just last week, Kauffmann sold a house in St. Norbert for well over the asking price. Listed at $159,900, there were 26 showings and seven offers. The house sold for $180,000, with the four top offers all within the same price range.
"Winnipeg is certainly not like other markets," he notes.
If you are looking for a home priced higher than $350,000, Kauffmann says there are good houses going for good prices. The $150,000-to-$200,000 market that is the most competitive.
"The starter homes are really driving the Winnipeg market now," he points out.
Part of that is because interest rates are so low.
"Now is the lowest it has ever been in my nine years in the business," Penner says. "I have never seen variable rates this low."
Whatever type of house you are looking for, Penner stresses the importance of being pre-approved for a mortgage.
"That way, when you go to make an offer, you know what budget you can afford," he explains.
Penner stresses there are other costs to keep in mind that can make a difference in your budget -- taxes, interest and heating costs all add up.
There's also the land-transfer tax to consider, adds Vincent, who specializes in real estate law.
"The biggest single factor changing legal costs is the land-transfer tax," he explains. For a house that sells for $200,000, the land-transfer tax is $1,700. It goes up at two per cent of the value after that. That money is outside the selling price or lawyer's fees and it's due the day you take possession of the new house.
Resale Homes
Renting home they once owned reality for some Americans
Michael Bennett used to own his home in Chesapeake, Va. Now he rents it, which is taking some getting used to.
There are advantages. "If something goes bad -- the hot water heater or the air conditioner -- the people that own the house pay for it," says Bennett, who lost the home to foreclosure a year ago.
On the other hand, "I don't like saying I'm renting."
Bennett and his wife, Candace, are among millions of Americans who have become renters again after foreclosure. While the transition from owner to renter can be difficult, real estate experts and financial consultants say it also can be an opportunity to change some things for the better.
Some of their suggestions on how to make the most of renting after owning:
First, decide whether you want to rent an apartment, condo or house. But people who have gone through a foreclosure may have an easier time renting directly from property owners than from apartment complexes, which tend to place more emphasis on credit history, said LaToya Irby, who offers financial advice on the website About.com.
Use this time to save money and repair your credit, now that rent is often lower than a mortgage payment for comparable dwellings, said Ralph Roberts, who wrote "Foreclosure Self-Defense for Dummies." Renters should stay current with bills and reduce credit card debt, he suggested.
"That's the plan," agreed Bennett, 56, who hopes to be a homeowner again some day. He and his wife bought their home in August 2007, but then racked up medical expenses after he lost his job and health insurance three years ago. They fell behind on mortgage payments.
The Bennetts, who now rent the home they lost in foreclosure from the investment company that bought it, hope to relocate to a more affordable area.
While some families may choose to stay in the same school district, others might use renting as an opportunity to move to a better one, or get closer to work or cultural attractions.
"Living in a cultural centre becomes a reality when you get rid of the notion that living in a home is the American dream," he said.
The foreclosure crisis and accompanying real estate slump have created more rental homes. But there are also more reasons than ever for potential renters to be careful. Before renting a property, verify with the local tax collection agency that property taxes have been paid and see whether any paperwork related to the mortgage has been filed in civil court. Unpaid taxes or court filings could indicate the property owner is headed toward foreclosure.
-- Associated Press
