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(NC) While the popular view suggests that springtime is prime selling season, there are a variety of factors that play into the best time to sell a home.

“Depending upon the number of homes on the market at any given time, the ultimate window for the quickest sale and the highest price can swing significantly,” says Mark Wolle a broker-owner with Royal LePage Wolle Realty in Kitchener, Ontario. “It boils down to supply and demand, so in fact, you may do better price-wise when there are fewer homes on the market.”

Wolle also points out that in very hot housing markets, the time frame in which buyers are looking for a home can stretch long past just the spring market since they may need to make offers on several homes to be successful.

By listing homes further away from the spring season, sellers may attract buyers who are more urgently motivated to purchase. Many sellers do better in the fall and winter months because there are fewer options for the buyers who are in the market. Conversely, buyers may do better to avoid the multiple-offer situations such as those witnessed in hot housing markets.

Pinpointing the best time is not an exact science and Wolle says that most people make real estate decisions based on need. Questions such as “what do I need now?” and “how will this improve my quality of life?” dictate many purchase and sale decisions. In many cases, the real estate climate plays a limited role in these decisions.

Sellers who act on “timing urgency” alone, may not necessarily achieve their desired outcomes,” adds Wolle. “Homeowners have their reasons for selling and buyers have their own motivations behind the right time to make a purchase. Life events occur for people everywhere all the time, not just in the spring selling season.

Wolle advocates that sellers are best to engage a hyper-local agent who will provide advice on how and when to sell a specific home, given the many variables at play within your market.

More information is available at www.royallepage.ca.

Source: www.newscanada.com

Message from Realtor Rosalie Drysdale

With more then 20 years in the real estate market, I will work with you to sell your home for top dollar.

Connecting with Rosalie Drysdale is easy,  email , or calling me

Rosalie New For Sale 2016 - 610 x 458

 

A Message from Realtor Rosalie Drysdale – Looking for the prefect mortgage that fits your Lifestyle – Contact Peter Paley at 204.227.2744

 

 

Peter Paley

Peter Paley
Mortgage Associate

204.227.2744

Peter Paley - Your Home and Mortgage 5
Give yourself some creditWhen your mortgage application is being considered, your lender will look at your credit habits: do you pay your bills on time? Do you tend to get over-extended on your credit card? These habits are reflected in your credit rating. In order for your lender to assess your borrowing profile, you’ll need two revolving sources of credit that are each at least two years old. Worried that some sloppy financial habits might keep you from a great rate or even from getting a mortgage? Here’s the thing: you can give yourself some credit. This important factor in your mortgage negotiation is entirely within your control. Start now to develop good credit habits:

  1. Pay every bill on time. That one habit is your single biggest game-changer.
  2. Don’t run up your credit cards. Use the 50% rule. If your limit is $5000, never let the card go higher than $2500.
  3. Don’t ever let any bill go to collections, even if it’s for a small or disputed amount. These black marks on your credit are hard to erase. If it’s happened, be prepared to explain why, and be sure it’s paid in full and reported to Equifax.
  4. If you’ve ever been bankrupt or under a consumer proposal, you’re going to have some extra challenges. You’ll need to have been discharged for two full years. And you’ll need to prove that you’ve re-established credit after the discharge, with at least two re-established revolving credit items and two-year history of satisfactory repayment. Strong income and downpayment will help.

If you’re wondering how to polish up your credit, get in touch. I can review your situation and give you some tips on how to boost your credit rating. What are you doing next week? It might be a perfect time to get started.

 

Build It! Two mortgages to help you build your dream home
Completion Mortgage. Just like it sounds, this is for situations when you don’t need to actually come up with full funding until the home is complete and move-in ready. You’ll need to provide a downpayment when you make an offer to purchase the planned home, and then the mortgage you are approved for is advanced to the builder at possession.

Progress Draw Mortgage. This mortgage will give you funds at specific intervals as the house is built. Generally, you’ll need to provide a progress report and have an inspection in order to secure the next “draw” of funds. While the number of draws can vary, it is common to have three draws: one at rough-in, one at completion, and a final draw when you take possession of the home. Once the home is completed, the mortgage will be converted to a conventional home mortgage.

Be prepared! Get me involved as early as possible in the process. I’ll outline everything you need to consider and all of the documentation you’ll need, so you can dream on!

Invis Mortgage Expert - Logo small
Peter Paley
Mortgage Associate
204.227.2744

 
 

(NC) There are few traditions more Canadian than weekends at the cottage. For many families, a cottage property provides the setting for both summer and winter holidays, and allows multiple generations to spend time together.

To ensure that your time at the cottage is filled with relaxation instead of drama, be aware that cottage properties can differ from urban ones in important ways. Consulting a lawyer before you buy can protect you from unexpected problems.

Limited road access

Some cottages can be reached only by crossing a neighbour’s property. Others have easements registered on title that allow neighbouring residents, or even members of the general public, to travel across the land.

Even where a cottage is accessed by a municipal road, its use might be seasonal only. This might mean the municipality won’t provide garbage collection, snow removal or emergency services in winter.

A lawyer can determine whether a cottage is subject to easements, and can tell you whether the access road is public or private.

Shoreline rules

Where a cottage is located on the water, there is often a shoreline road allowance along the water’s edge that is owned by the local municipality. Unless the municipality has transferred the rights to this allowance to the individual property owners, members of the public are entitled to walk, or in some cases even drive, along it. A lawyer can conduct searches to reveal whether there is an allowance and who owns it.

There may also be rules about construction at the edge of, or extending into, the water. These rules can prevent you from building a dock or boathouse. It’s not possible to tell whether you can build a boathouse just because some neighbours have them. In many locations, existing structures have been “grandfathered”, while new ones are prohibited.

Working with a real estate lawyer familiar with rural properties can help you know what you’re getting – and whether it includes peace of mind − when you buy a cottage.

Source: www.newscanada.com

Rosalie's E-Post February 2016

 

Message from Realtor Rosalie

Want to receive my monthly news letter in your inbox …… send me a email using my contact page

You can cancel at any time …. thank you for taking the time to visit my website

JANUARY 15 – 17, 2016 – RBC Convention Centre – Winnipeg, MB

Winnipeg Renovation Show LogoWinnipeg Renovation Show LogoWinnipeg Renovation Show Logo

 

Dates & Hours

Friday January 15, 2016  ​NOON – 9:00 p.m.
Saturday January 16, 2016 
10:00 a.m. – 9:00 p.m.
Sunday ​January 17, 2016 
10:00 a.m. – 6:00 p.m.

Speakers & Celebrities

Visit often for updates on celebrity & expert appearances

Bryan Baeumler

BRYAN BAEUMLER

HGTV Host & Owner, Baeumler Quality Construction
@Bryan_Baeumler

With his witty humor and passion for teaching, Bryan Baeumler  has been educating and entertaining viewers worldwide for the past decade. He has filmed over 300 television episodes including the hit HGTV & DIY Network series Leave it to Bryan, Disaster DIY, Canada’s Handyman Challenge and House of Bryan.The House of Bryan series continues to be the highest rated series on the HGTV network, breaking all viewership records.

In addition to successfully owning and operating Baeumler Quality Construction, Baeumler Approved, and the Baeumler Family Foundation, Bryan recently launched his first bestselling book called Measure Twice. He is the recipient of numerous awards including a Gemini award and was also included in the Professional Builder’s Top 40 under 40 in 2014.

See him on The Lifestyle Stage: First Things First: Get Your Home Renovation Priorities in Order
Friday, January 15, 7PM
Saturday, January 16, 2PM

Here is a list of the rest who will be at the Winnipeg Renovation Show

JOE WEDGE  – President, Penta Protective Coatings

TONY TEUNIS – Principal, All Canadian Renovations

CURTIS BRESLAW – Senior Estimator, All Canadian Renovations

SHERRI COWLTHORP – Principal Decorator, Inclusive Design Group

CHUCK LEWIS – Owner and Operator, Mr. Electric

ANGIE KENDEL – Co-owner and Operator, Maximum Impact Plus Home Staging

STEPHEN SEGAL – President, Polar Windows

Get your tickets online by following this link : Winnipeg Renovation Show

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Follow the Winnipeg Renovation Show through Social Media

Facebook, Twitter, Pinterest, YouTube, Linkedin

Welcome to 2016! Looking back on the last year, we’ve seen mortgage rates remain relatively unchanged, home values stayed steady and a new mortgage rule change was announced with its debut happening in February 2016. While weight-loss and getting organized are the top resolutions, spending less and saving more follow closely behind. On that note, if you have a mortgage, it should be on your radar in 2016. Multiple reasons may warrant an audit of your existing mortgage details and the New Year is just one of them. Consider the items below to determine if you could benefit from a mortgage check-up.

  1. Do you have debt you want to get rid of?

If you have available equity in your home, now could be a great time to get a debt consolidation. Rolling all of your debt into a low rate mortgage with a long amortization can drastically lower your overall monthly payments. Even with a payout penalty on your existing mortgage, you could still save money in the short and long term by centralizing all your debt into one monthly payment.

  1. Are you worried about job security?

It’s difficult to qualify for a mortgage when you’re newly self-employed; so if you were planning on making some changes to your mortgage and/or employment, you may want to take action soon while you are still able to qualify with third party income confirmation. This also applies if you’re worried about your job security and want to get your financial ducks in a row before an anticipated break in income. Accessing unused equity to use as a cushion while building your business or restructuring your mortgage to lower payments for a lapse in employment could make sense. However, do be aware refinancing can come with some costs, such as an appraisal, legal fees and a potential payout penalty on your existing mortgage term. If you are unable to make changes to your mortgage due to your employment situation, talk to an experienced mortgage broker who can offer financing alternatives for responsible borrowers.

  1. Do you have a 2nd mortgage with an unchanged balance?

If you have a 2nd mortgage behind your first mortgage, the New Year could be a great time to assess the value of consolidating two into one. Whether it’s private financing, or a home equity line of credit, it’s important to consider if there’s a better way to carry and pay down debt. If your balance is not going down as fast as you would like, consolidating them into one mortgage with a low rate and an affordable payment could put you in a better financial position by 2017. This will provide you with a set amortization period that will estimate the time it can take to pay off your balance in full as well as a fixed payment schedule.

  1. Are you having trouble making your mortgage payment?

Even with the new mortgage rules in place you still have options. This type of scenario usually involves a more in-depth consultation before a mortgage solution that suits you can be determined. There are a few possible avenues that can be taken and it’s important to start on the right path. Being in payment distress is a tough situation and getting ahead of the problem by contacting a professional with experience could ensure you are aware of all the solutions available to you.

  1. Have you improved your credit history?

You could be paying a higher rate if you originally got a mortgage when your credit score was low and your credit history was bruised, a mortgage check-up could be right up your alley. If you’ve improved a poor credit score enough to qualify for a lower interest rate you could be saving money every month! Time to contact a mortgage professional for some valuable advice.

  1. Are you thinking about buying a rental property?

If a rental property is part of your investment strategy in 2016, a mortgage check-up should definitely be on your list of things to do. Not only can you get a pre-approval to be prepared to shop for investment properties, you can also utilize the experience of your mortgage professional to explore some different mortgage solutions that maximize the potential cash flow of your new purchase.

  1. Do you know what is involved with refinancing your existing mortgage?

Some of the above items may lead to questions about possible payout penalties and the actual benefit of the above mortgage solutions. An experienced mortgage professional should be able to provide you with an amortization scenario taking into consideration a potential payout penalty to break your term and determining if it is still a financially sound idea to move forward with a mortgage adjustment. The first call to your mortgage professional should cover what is involved in the process including potential costs out of your pocket and the documents you could be asked to provide.d

It doesn’t take long to determine if your mortgage is in need of a check-up. Don’t be afraid to ask questions if you’re unsure of anything, now is the perfect time to get the answers you’re looking for.

For all your mortgage needs, contact Jackie at 780.433.8412 or info@mortgagegirl.ca. Stay in the loop by following on Twitter @mortgagegirlca.

Source: Jackie Woodward Mortgage Broker

Canada Mortage and HousingMortgage loan insurance is typically required by lenders when homebuyers make a down payment of less than 20% of the purchase price. Mortgage loan insurance helps protect lenders against mortgage default, and enables consumers to purchase homes with a minimum down payment of 5% — with interest rates comparable to those with a 20% down payment.

To obtain mortgage loan insurance, lenders pay an insurance premium. Typically, your lender will pass this cost on to you. The premium payable is based on a percentage of the home’s purchase price that is financed by a mortgage. The premium can be paid in a single lump sum or it can be added to your mortgage and included in your monthly payments.

Mortgage loan insurance is not to be confused with mortgage life insurance which guarantees that your remaining mortgage at the time of your death will not be a burden to your estate.

Source: Canada Mortgage and Housing Corporation

2015 SALES SOLID WITH PRICES HOLDING FIRM

 December Sales Up 4%

WINNIPEG –   2015 finished on a strong note.  Following on the heels of a record sales month for November, December sales of 642 were up 4% from last December. They are the third highest for this month, and are only behind the best sales years ever by a very modest amount.

“It is really quite remarkable how close our year-end sales have been in the last few years including our highest sales year in 2007,” said WinnipegREALTORS® outgoing president David MacKenzie. “They all tend to hover just above or close to the 13,000 level and in percentage terms we are only talking a little over 1% when we compare the 12,927 sales recorded this year to the 13,079 in 2007.”

While sales and even prices have shown consistent and similar results, listings have not chartered the same path. The number of listings entered on the MLS® were 24,603 in 2015, up 7% over 2014, and 41% over the 10-year average of 17,433. With an increase in listings but sales remaining consistent, the market’s inventory has also been rising month to month. This is borne out in having over 5 months of inventory available going into 2016.

“Buyers are in a great position to take advantage of a current market which is providing a large number and array of properties for sale and ones which remain some of the most affordably-priced in the country,” said Mackenzie. “Sellers need to take heart knowing WinnipegREALTORS® is still enjoying one of the best sales years it has ever had. They need to be aware however that more competition for those sales creates more downward pressure on prices since supply is outstripping demand.”

An indicator of stiffer competition for selling your home is evident when you see the number of single family home sales selling below list price.  Properties below list accounted for  65% in 2014 but now represent 75% of the market in 2015. In December alone 87% of all single family home sales sold below list price. Of the single family or residential-detached listings which sold in 2015, on average they achieved 98% of the total list price.

When 2015 was all said and done a new MLS® dollar volume record was established at $3.5 billion. This resulted in a 2% increase over 2014. Despite sales being higher this December from December 2014, dollar volume actually fell 2.89% when compared to December 2014.

It was a tale of different stories when it came to the two primary MLS® property types. Residential-detached performed exceedingly well with sales and dollar volume up 3 and 5% respectively in comparison to 2014. On the other hand, condominiums never recovered from an unexpectedly poor first quarter where sales were off by 20%. By year end this deficit was cut in half but nonetheless represented a 10% decrease compared to 2014.

The average sales price for residential-detached was $293, 992, a 2% increase over 2014. The average condominium sales price showed a 1% decrease from $239,171 in 2014 to $236,204 this year.

Residential-detached represented nearly 3 out of every 4 properties which sold on MLS® in 2015. Condominium market share was 12.5%. 25% of residential-detached sales in 2015 happened outside Winnipeg in the capital region. The southwest quadrant of Winnipeg was second with 19% of total sales.

The most active price range for residential-detached sales in 2015 was $250,000-$299,999 (22% of total sales), followed by the $200,000-$249,999 (17%) and the $300,000-$349,999 (14%).  Average days on the market for residential-detached sales was 33 days, 3 days slower than 2014. The highest-priced residential-detached sale was $2.7 million. The least expensive sale was $8,000.

The most active price range for condominiums in 2015 was $150,000-$199,999 (30% of total sales), followed by the $200,000-$249,999 (20%) and the $250,000-$299,999 (18%). Average days on market for condominium sales was 49 days, 9 days off the pace set in 2014. The highest-priced condominium sale was $950,000. The least expensive sale was $57,000.

Looking ahead to 2016, Manitoba’s GDP is expected to increase to 2.3% which is an improvement over the expected increase of 2.0% in 2015. In keeping with one of the country’s best GDP’s, Manitoba’s employment is forecast to grow by 1.6% in 2015 and 1% in 2016. This will keep its unemployment rate below 6%. Manitoba had Canada’s second highest population increase of 1% in 2015.

“While we do have an abundance of listings to work our way through at the beginning of the year, the good news is Winnipeg’s and Manitoba’s economy is performing relatively well,” said MacKenzie. “A most recent survey by CIBC shows Manitobans are most confident about their state of finances so this is another positive indicator that they will continue to take advantage of an excellent selection of properties for sale at some of the most affordable prices in the country.”

Established in 1903, WinnipegREALTORS® is a professional association representing over 1,850 real estate brokers, salespeople, appraisers, and financial members active in the Greater Winnipeg Area real estate market.  Its REALTOR® members adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service® (MLS®) designed exclusively for REALTORS®. WinnipegREALTORS® serves its members by promoting the benefits of an organized real estate profession.  REALTOR®, MLS® and Multiple Listing Service® are trademarks owned and controlled by The Canadian Real Estate Association and are used under license.

 

Rosalie's E-Post January 2016

 Message from Realtor Rosalie Drysdale

Its a NEW YEAR 2016, I would like to thank everyone that has followed me on twitter (@rosaliedrysdale) Face Book (realtorrosalie) and google plus.

If you are in the market to sell your home, please call me Rosalie Drysdale . My team and I will prepare a plan on how to sell your home for top dollar.

If you are a new home buyer really to jump into the Winnipeg Real Estate Market, I will help you find the home of your dreams and help you stay within your budget.