Kimberly Graham

Sounds simple right? You just... start looking. Right? Pick up a newspaper, start calling everyone in it. Or check out Realtor.ca, all the listings are on there, why bother with a realtor?

Well sure that is one way to do it, but since my high school teacher introduced me to the concept of "work smart, not hard" I can't get it out of my head! I will give you an example: I received a call last week from a young man asking about one of my listings, he had seen it on MLS and wanted to know more. I had to tell him that unfortunately it was sold. Then two days later they called me again, wanting to know more about the same house. I had to tell them again that it was still unfortunately sold. They wanted to know why it was showing as active on MLS then. Well, I find sometimes MLS is behind a little bit, whereas our system is in real time. I also did inquire both times to them that if they would like I could set them up on a home search for their area of choice, thus eliminating the work they are putting into all the calling and waiting. They declined stating that they could not afford a Realtor. When I tried to tell them that as a buyer they did not pay for an agent they said that they preferred calling around until they found a house that was still available that they liked.

While that is fine, and certainly an option... it baffles me why a serious buyer would not want to hire an agent that works just for them? We have access to real time listings, and all they have to do is sit back and let the homes come to them. Certainly shop around until you find an agent you are comfortable with and knows the area you want to live in. Also, since it is really free for you as a buyer, why wouldn't you want all that knowlege and experience for free? Believe me, you are missing out on a lot of places by thinking that they are all in the newspaper, online or having open houses. I understand that some people are "go getters" and love to be involved in the hunt:) however, why not have the best of both worlds? Often I recieve daily emails from clients with a list of addresses or MLS numbers they want me to check out... so a few clicks later and all the info they need is in their inbox to peruse at their convenience. No making 20 phone calls and recieving the call back when it is not convenient for you... no waiting to hear back from someone who may not have time to call you back at all. We make it about convenience for YOU.

Some objections that I have gotten to people who say they don't want a realtor are as follows:
- They can't afford it, and I have already mentioned that this is free for buyers
- They are not really serious about looking right now.. they just want to be casual and don't want any pressure. Hey, I can understand that! I have lots of people on my mailing list that are casual, I just email them homes, check in every few months. Then when they are ready to buy, they can call. I too hate pushy salespeople too.
- They are afraid of getting a 'bad' realtor. Well, I say get a referral from a friend, or during your own hunt feel out different agents to see if you can find one that you connect with and knows her stuff. Then when you feel ready to buy, you feel more confident and excited. Buying is stressful enough... why make it harder?

So the easiest way? Trust me, just hire a realtor.

And we await. As Alf Warkentin says: "The moment of truth is upon us". It sounds very doomsday doesn't it?

The general worry and fear that flood is upon us can be unavoidable. For those living south of the perimeter close to the United States we are sure your worry is greater than ours up here in Winnipeg's windy corridors. General concerns in the city here have centered around ice covered manholes and sewers that are not draining and therefore create large lakes of water in the city. As well, accumulation of water from rain, melting snow and ice means our backyards and streets are a slushy yucky mess. I don't know about the rest of you but I have a sincere appreciation for my sump pump right now!

Thankfully I even have a sump pump to be appreciative of! What if I didn't? What if I didn't have one and it resulted in basement flooding?

Hmmm... a double pain I would say. For one, flooding creates a mess, things have to replaced, torn down, rebuilt...etc. Number two is once you have water issues in your basement, this is something you will always have to disclose if you intend to sell your home.

Disclosure has always been a hot topic in real estate. The term "Caveat Emptor" or, 'Let the Buyer Beware' is a common term (or should be!) for sellers and buyers alike because it holds a lot of truth. There are simply some things about a property that the seller may not know or have any control over. So how can that be disclosed? Of course it can't, but things that the seller is aware of can and must be disclosed, things like water in the basement, leaky roofs, permits not taken out on work completed. It is a bit involved but the basic rule is that if there is a defect in your home that you are aware of... just disclose it! You cannot cover up defects and hide them if you know about them. If there is a defect in your home that you are aware of and you cover it up and not disclose it, then the buyer discovers it... you might be in some trouble with that one...! Also, if it is something that a buyer could see readily with their naked eye, like a broken window, then that doesn't necessarily need to be pointed out. However, since flooding is a huge thing... even if you had water stains halfway up your basement wall I would make a point of telling your Realtor about it, why not be safe? It is kind of like sandbagging yourself and liability against further issues.

So as spring decends almost too rapidly for us here in the Prairies we Realtors can only ask that you keep yourselves high and dry, and help out the neighbours and those to the south who need it. If your basement floods, make note of it and prepare to disclose that fact in an eventual sale.

Perusing book store shelves recently had me coming across the section on Ernest Hemingway. I stopped short at one book entitled: "To Have and Have Not". While this book doesn't focus on real estate, it does bring to mind some sound advice I wanted to pass along to all my favorite buyers out there.

Let me pre-face by saying that I do not begrudge you your dreams, I want the amazing restored character home on the river with the re-done hardwoods and brand new kitchen too! While most savvy home-buyers make a wish list and stick to a budget, some buyers have a dangerous tendency to lean towards that mindset of having it all, whether they can afford it or not.

Often I find myself in the situation with a buyer who has fallen in love with a type of home or home "ideal" that they simply cannot afford. It happens! They are out for a Sunday stroll to the cafe and happen upon an open house featuring a restored brick beauty from 1920, or maybe they visit a friend who just built a brand new home full of light and space, or the chic warehouse condos on the waterfront. Some buyers can view these places as homes they will have one day, or simply wonderful pieces of art, architecture, and dreams. Then they can continue on with life and regular home hunting with positive gusto, never once comparing the home they can afford to the one they could not.

That is group one.

Now group two. Another story... Not that I don't love the zest for life, and the visceral appreciation for amazingly beautiful homes that I get from this camp, but often a painful reality check is in the works for these wonderful home buyers. Its not an easy thing to do, convince someone that if their budget is $200 000, homes that would otherwise be worth more are simply not a viable option. Value is value, and while wiggle room can exist, its best not to count on it.

My advice for you: Don't look at what your friends have, or what your parents think you should have, or the pretty house down the street that you really want but won't work in your budget. Its a tempting thing to think you are willing to sacrifice Tim Horton's coffee, football tickets and shopping trips just to have that brand new kitchen you are drooling over. But just stop!

Remembering what is truly important in life should be a daily venture, never living to regret something should be another one. So in this instance, appreciate beauty and dream homes for what they are, put owning one on your to do list for sure, but make sure to remember to live in the here and now. There is nothing wrong with just starting out somewhere, working your way up in the world.

Remember that owning a home that needs some work, or is not "perfect" is one of life's adventures all on its own.

For those of you unfamiliar with the fable of "Chicken Little" I will give you a brief re-cap: an old fable about a Chicken (or a Hare in early versions) who believes the sky is falling. The phrase, "The sky is falling" has passed into the English language as a common idiom indicating a hysterical or mistaken belief that disaster is imminent.

So, I ask, is the sky falling in Canada? Will we have a repeat of the 80's when mortgage rates rose so swiftly seemingly overnight that people were losing their homes in the blink of an eye? Will home values crash?

One of the more common themes in the media over the last few months is the progression of the mortgage meltdown debacle in the United States, the "economic crisis" and how that has parlayed into a Canadian recession that we have yet to feel the real brunt of here. Its a disconcerting thing to read all those reports isn't it? Yet for every doomsday report on a National level, there is one detailing how Winnipeg's housing market is still holding strong. I do not discount we are heading into financially trying times, however I think we are living in a unique city in that we seem to be "bucking the national trend" as media outlets have put it.

The most recent report released by Royal LePage echoes the one released by RE/MAX. The report suggests that Winnipeg is holding strong entering 2009. How is this possible some people ask? Well, Winnipeg's home prices have risen dramatically over the last half decade or so, however comparing our statistics to those of other major city centres such as Vancouver, Calgary and Toronto we are still way below the national trend. This fact is helping us avoid a major crash in our market. What you can buy for $200k here, will most likely cost two to four times that in other major cities. So, what you can buy here in Winnipeg, with all the comforts, services and benefits of a major city, we are not doing too badly!

So this is my challenge to you home buyers and sellers on the Manitoba home front. Try to think critically about what facts the media is presenting to the public as a whole. Remember that a lot of those articles are spin offs from the associated press in other provinces, and are also often national reports that don't focus on our unique situation here at home. Read the local reports, talk to local agents and brokers to see their thoughts on the market. Make up your own mind as to what is going to happen. We do not deny that we are facing economically trying times, that we will feel the squeeze eventually is inevitable.

Lastly, don't put off buying a home if you can afford it. If you want or need to move, there is no sense letting anxiety take over; fearing that we will all be thrown out into the streets because of an impending recession will do nothing for your current quality of life and sanity. Are bidding wars over? Most likely. Is the market headed for a balance? I think so.

Here is to happy house hunting and selling for everyone! Cheers!

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.