Manitoba

It is 12:07 on October 27, 2009. The first day of the rest of my life as a Blogger.

I am excited, anxious to get started as Ciabatta crumbs sprinkle down into my keyboard. I sip cold coffee, thickened with Borgers Sweetened Condensed milk, a decadent, high caloric vice, rapidly becoming a daily habit.

Communicating from a7th floor condo, located in an urban center, a prestigious address, in a good neighborhood. Muddy waters flow below, as leafless trees brace for another long winter. I note my next door neighbors have replaced the high-rise outhouse ....

with pre-fab roof panels, the icing on the cake.

Progress. Construction. Real Estates.

We are closed today, in Canada. To give Thanks. Our TSX is also closed. But yours isn't. Many of us Northerners watched today as the Dow rebounded from 'Free-fall Friday' to 'Miraculous Monday'.

We tuned in to Obama talking about his rescue mission, tax incentives, mortgage breaks, foreclosure forestallers. If elected he will enforce a new 3 month 'grace' period before banks can ask homewoners to turn in their keys. I recalled hearing some banks were backed up over 6 months behind on foreclosures. Would this period include the 6 month backlog, or is it before or after that period has started/ended. Minutia, I decided.

Then the bell rang, trading ended almost 1,000 points up, and we ate Turkey. With trimmings.

Thank full for another harvest. Another day.

BEST SEPTEMBER MLS® PERFORMANCE EVER

face of a national real estate market adjustment as it recorded its best September

ever. This should not come as a surprise given a recent forecast from the

Conference Board of Canada indicating Winnipeg will be one of the nation's

leading economic performers in 2008. It forecasts real economic growth of 3.3 per

cent. One significant factor helping the local housing market is the continual influx

of new immigrants and decrease in out-migration.

This was clearly one development that led WinnipegREALTORS® to remain

optimistic in its 2008 forecast to call for a repeat performance of another excellent

year of MLS® sales activity and more pressure for another price jump. In fact, with

still three months remaining, WinnipegREALTORS® has reached the $2 billion

milestone in sales volume for the second year in a row and in the quickest time on

record.

One notable trend in the last few months that is worth highlighting again in

September is the significant improvement in inventory. Active listings are over

3,000, an increase of 44 per cent over the same time last year, and the close to

1,800 new listings entered on the MLS® is up 22 per cent over September 2007.

September MLS® unit sales were up 3% (1,097/1,060) while dollar volume

increased 16% ($204.9 million/$177.1 million) in comparison to the same month

last year. Year-to-date sales are in a virtual deadlock with last year's record sales

pace (10,489/10,503). Dollar volume has risen 14% ($2.03 billion/$1.78 billion) to

eclipse the $2 billion mark in record time.

"There is more evidence of a less hectic market with things settling down compared

to earlier in the year," said Darlene Clare, president of WinnipegREALTORS®. "It

is the MLS® market statistic we monitor every month which shows one in three

homes selling in September went for above list price when it would have been at

least one in two homes in the busiest spring months."

Clare added, "The increase in listings is providing relief to buyers who now have

more choice than before. Whether buying or selling, a REALTOR® should be

enlisted to advise on changing market conditions and competitive pricing."

For residential-detached sales, the most active price range was from $160,000 to

$199,999 with 24 % of total sales. Next busiest was the $130,000 to $159,999 price

range at 14%. The average days on market for sales of MLS® residential-detached

listings was 26 days, one day slower than last month and 3 days off the pace set in

September 2007.

Reprinted with permission from Winnpipeg Realtors.

Happy Thanksgiving Canadians!

Thank Fullness.

Potatoes that need peeling, and a pot to boil them in. I have food.

A heating apparatus, connected to a panel box, screwed into a wall. I have shelter.

A black cable disappears into the ground, snaking its way through culverts, an underground network of pipes, cables, transmitters. I have community.

Belts are loosened, hiding unsnapped buttons, napkins flutter to the floor. I have family.

Gravy stained plates piled unceremoniously on cluttered counters. I have pride.

Dow, Freddy, Fanny, names tossed into the air, batted around, dented and squashed like ping pong balls. I have knowledge.

With Knowledge comes wisdom.

Happy Thanks giving.

What is a deposit for?

A deposit is a show of good faith that you intend to purchase the home.

Do I have to give one?

I am to understand that by law you are not legally required to give one, however it is such a common practice in today's market that seller's may not understand why you don't have one.

Where does the money come from?

The money would have to come from you directly.

Is the deposit money on top of the sale price?

I get asked this all the time! The answer is NO way! If you bought a house that was $150 000, your deposit is $5000, the sale goes through and is finalized, you now owe $145 000.

Is the deposit the same as the downpayment?

Sort of... The deposit is PART of the downpayment. Certainly it can be all if you would like, but may not be possible. For example, if your price range is $100 000, and you have your 5% down which equals $5000. You may only want to put $1000 down as a deposit. The main reason for this is deposits are cashed within 24 hours of acceptance of an offer, so if you don't have the entire amount now then you don't have to worry about it right away.

How much should I have for a deposit?

This depends on a few things, how much you have to put down now, and maybe even how much the house is. Some sellers will want as high of a deposit as possible, some are less concerned with such things. The best advice is to ask me what I think is best at the time the offer is written. Normal amounts are between $1000 and $5000.

How do I know my money is protected?

The money is deposited into the listing broker's trust account. The money is safely kept there and is then forwarded to the lawyer upon completion of the sale.

Who is the cheque made out to?

Because it is held in the listing broker's trust account it is made out to the Listing Brokerage.

What happens if I write a cheque and don't get the house?

The cheque is voided, never cashed and mailed back to either the agent that submitted the offer or the client.

What happens if I write an offer, we get it, and my conditions fall through?

If the offer was accepted and the cheque cashed then the agent would send in a form requesting a return of funds based on conditions not satisfied. It can take up to 10-15 business days to have that money returned.

What happens if my cheque bounces?

Oh boy... try not to do that!! Hopefully the brokerage that cashes it is nice enough to call you and give you a chance to make sure that money is there.

Is a money order better?

It depends. It is for sure a way to prove that the cheque wont bounce!! It may not be convenient for you however as we may be meeting to write the offer after banking hours.