Harry Logan

Best Selling Author Jay Papasan shares some enlightening info on why some houses sit on the market while other houses sell.  He also shares what you can do to make sure that your house Sells.

Please feel free to call me at the number below if you'd like to know the current market value of your home.

The new CMHC Housing Market Overview Report for August 2010 is out!

The report substantiates what we have been hearing from our colleagues across Canada of the market slowing down. Unit sales of existing homes in July were down to 378,432 units from 406,032 units across Canada in June. "Across Canada, existing home sales are down 24.9 per cent compared to July 2009."

Not only are unit sales down from June but prices are down slightly as well. The seasonally adjusted average MLS® price in Canada decreased from $332,492 in June to $331,834 in July.

However when compared to July 2009, the Canada-wide average MLS® price has increased by 2.1 per cent.

Employment was down by 9,300 jobs in July, pushing the unemployment rate 8 per cent. Despite the slight decline last month, employment has been trending upward since July 2009 with a total of 393,700 jobs created. A decline in full time employment (-139,000) in July was largely offset by part-time gains (+129,700). I am concerned that we are replacing full time jobs with part time jobs. When it is all said and done jobs play a HUGE Factor in the housing market. People cannot buy new homes or even sustain their existing homes without JOBS.

You can get a copy of the full report by clicking here.

Did you know that you can invest your RRSP in to Mortgages? Registered Retirement Savings Plans (RRSP’s) CAN be invested in to Mortgages. I'd say that 99% of the people that I ask if they know that they can invest their RRSP in to other investment vehicles such as mortgages, haven't got a clue that this is possible.

Most people are familiar with the "standard way" of investing an RRSP, which is to give your money to the Bank or some other professional money manager. These professional money managers typically invest your RRSP money into a mutual fund, a money market fund, a bond fund, a guaranteed investment certificate (GIC) or perhaps the stock market.

RRSP's can actually be invested in more than just mortgages. Your RRSP can also be invested in to Businesses (either your own or someone else's) as well.

Why would you invest your RRSP in to a Mortgage instead of say the stock market? Well the words predictability, stability, higher guaranteed returns, fully secured by real estate all come to mind.

Sometimes the stock market can go up and down like a toilet seat. It’s feast or famine. Great if you’re a 20 something year old with nothing but time on your hands, high variability can often come with high returns. But if you are closing in on the time when you want to retire OR you just want to guarantee that your return on your investment is positive every year (instead of positive this year negative next year, etc., etc., etc.) then investing in mortgages may just be for you.

When you invest in mortgages you can actually have an investment that is backed by real estate. Imagine that… an investment that is actually backed by something tangible and not just a piece of paper!

My clients and I offer a 10% Return on Investment to people that lend us mortgage money through their RRSP’s. Now 10% return on your investment is not earth shattering, but it is certainly decent enough to perhaps reconsider investing even a portion of your RRSP into.

If you have RRSP money that is not giving you a return that you are happy with, please feel free to call me at 204-667-7653 and we can discuss possible options for your investment.

WinnipegREALTORS® MLS® stats for July. With the weather way better than last July ... and maybe people thinking more about some sun, sand and surf rather than listing and selling - the numbers don't look all that bad. And looking at year-to-date ... there are still positives in this more balanced - healthier market.

In July, there were 3,191 listings actually available for buyers to see ... down just 17 properties from July of last year (3,208). The number of new listings added in July this year was 1587 ... just 95 shy of last year's 1,682. Sales were 178 fewer than last year (1,195 vs. 1,373) and with 178 fewer sales, dollar volume dropped $15.2 million from July 2009 to $261,349,000 (from $276,582,000).

Even though the numbers are off a little during the month, the stats are still very positive and year-to-date numbers are even better.

From January to the end of July, properties marketed through the Multiple Listing Service® are ahead of last year's record setting pace. The number of listings from January to the end of July is 11,625 - up from 11,410 last year (+2 %). Sales are 7,647 vs.7,469 last year (+2.4%). And dollar volume is up to $1.71 billion versus $1.52 billion in '09 (+13%).

The single detached resale activity is pretty balanced. 21% of the sales through MLS® are above $300,000; 39% are between $200,000 and $300,000; 34% are between $100,000 and $200,000 - and the remaining 6% are under $100,000. Average days on market for a single family residential sale was 28 days, 2 days faster than in 2009.

The condominium resale market showed an almost perfect bell-curve. 9% over $300,000 and 8% under $100,000; with 41% between $200-300,000 and 42% between $100-200,000. Condos averaged 31 days on market as opposed to 33 days last year.

Well it's getting close to back to school time and our leaders of tomorrow will be making their way back to School.

My hometown of Winnipeg is proud to be home to two Major Universities (The University of Manitoba and The University of Winnipeg).

With that migration back to school comes the requirement for tuition money.

The best source for student loans are Government Backed Student Loans.

To apply for a government student you first get an application (either through your high school, post-secondary institution or through the student financial assistance office of your province or territory of permanent residence. All provinces and territories now offer online applications) and then fill out and send the application along with any documentation requested to your province or territory of permanent residence. (You are a permanent resident of the province or territory where you have most recently lived for at least 12 consecutive months without having been a full-time student at a post-secondary institution). Manitoba Student Aid can be accessed here.

Private institutions such as banks, trust companies or credit unions may also offer loan options, should you not qualify for a government student loan.

You can find more info about Canada Student Loans Program through these Publications.

Here's an enlightening video from the Globe and Mail regarding some of the myths surrounding student loans.

Well I wish you all Great Success in your studies. Remember me when you graduate and finally can afford to buy that first home. I'd Love to assist you with that! And Remember...C's get Degrees! Enjoy your time in school! You'll look back on it fondly when you're an old fogey like me. LOL!