Steve Penner

Winnipeg Real Estate Market - Boom or Bust?

Despite the downturn in the world economy and a leveling out of home values this year in Canada, the Winnipeg Real Estate Market has again remained strong in 2010. In fact, Winnipeg home prices keep rising.

It causes many of my clients to question why we have had such an exceptional market and what the future holds. Here are a few things to think about when we consider these questions:

Consider the Following Combination of Winnipeg Real Estate Market Influences:

1. Growing Population: Winnipeg population is outpacing the national average. This last year the population grew by approximately 13,000 with the high majority locating in Winnipeg. Stats Canada is predicting that Winnipeg will grow by an additional 70,000 people in the next 10 years.

2. Low Housing Inventory: the Winnipeg Real Estate market has had difficulty in keeping up to demand. Winnipeg housing construction has been lagging behind due largely to a shortage of building lots. Many of new home builders have targeted the large expensive homes while homes for the average middle class family remain in low supply.

2. Strong Local Economy: Winnipeg has a very diverse and mature economy that does not depend on any particular industry. As the auto, lumber, and finance industry went into a meltdown, Winnipeg remained strong due to it's diversity. Generally, Winnipeger's kept going to work and paying their bills as usual.

3. Affordable Housing: the Winnipeg Real Estate Market is, and has been, one of the most affordable housing markets in Canada. Even with the price increases in the last 10 years, Winnipeg still is less expensive than almost any other major city in Canada.

4. Low Interest Rates: clients are getting mortgage rates from 2% to 4% with excellent terms and amortizations that we could only dream of in the 1980's and 1990's. During the 1980's a rule of thumb was that mortgage payments were about $10 per thousand, today it is closer to about $4 per thousand. .... even with a 250% price increase the payment is about the same as it was in the 1980's on the same house.

5. Positive Outlook: the outlook for the Winnipeg Real Estate market remains optimistic. The conservative culture gives all of us a sense of stability and overall security that the Winnipeg Real Estate market bubble will not burst overnight.

So, is this still a good time to purchase a home in today's Winnipeg Real Estate Market? I'll let you decide, look at the stats, the trends, the current market conditions, as well as future projections and make your best decision. I invite you to give me a call. I'd highly value the opportunity to meet with you and discuss your real estate needs and wants.

You can contact me at: 204-989-5000; or visit my website at: www.winnipeg-homes.ca; or www.stevepenner.ca; or email me at: stevepenner@royallepage.ca. Also, feel free to leave your comments, I'd be interested in your thoughts about the future of the Winnipeg Real Estate Market.

Things Needed After Purchasing a Home

Now that you've signed all the paperwork and your loan is approved, it's time to move in. But wait! Before you put your feet up, there are a few things that you will need in order to make your new house a home. It is important to remember that there are almost always incidentals to think about when making a move.

Locks

Regardless of whether you purchase a newly constructed home or one that was formerly owned by someone else, it's important that you have the locks changed. Everyone from REALTORS® and contractors to friends and family of the former owner may have a key, which is why getting new locks should be at the top of your list.

Furnishings

You can't hang your hat without a hatrack, so don't forget to add some necessary furnishings. Some homes may include appliances and possibly even some furniture, but most homeowners prefer to decorate their house themselves. After all, someone else's taste in decor may not necessarily be the same as your own. If you purchase from a furniture store, they will handle the delivery for you. Otherwise, you can hire a moving company.

Appliances & Cookware

Even if your new home is equipped with appliances, you may still need to add a few items into the mix. For instance, a coffee maker, toaster, microwave or blender may be items you want for your kitchen. You will also need flatware, tableware and a quality dish drainer to hold your dishes that require the handwash method.

Tools

When you move into a new home, there will likely be some things to do that require the use of tools. Whether you need to assemble furniture, a desk for your office or just need to tighten some bolts here and there, a good set of tools is a necessity.

Personal Touches

No home is complete without personal touches that represent the new owner's taste, so don't forget to include them on your shopping list. Pictures, paintings, special window dressings, accent pillows, plants, decorative throws, accent rugs and bedding sets will create a custom interior that's all about you. Other things to consider include portable air cleaners, water filters, an answering machine, wastebaskets and a bathroom plunger.

Outdoor Décor

If you like to entertain, equipping your backyard accordingly is a must. Patio furniture, an outdoor grill, landscaping tools and garden supplies are essential to creating an outdoor atmosphere that your family and friends are sure to love. Speaking of the outdoors, don't forget to purchase a lawnmower and trimmer unless you live in a subdivision where lawncare is included in the maintenance fees. If you live in an area that's prone to snowfall, keep this in mind when shopping for maintenance supplies.

The best way to tackle a large list of necessities is to keep a pad of paper nearby and write down each item as you think of it. Think about each area of your new home and do a mental inventory of what is needed. There will always be new items to add to the list, but you will cover the basics with your handy checklist of necessary items for your new home.

Posted by Steve Penner - Royal LePage Dynamic - 1450 Corydon Ave Winnipeg, MB - 204-989-5000 - www.stevepenner.ca - www.Winnipeg-HouseValues.ca - www.Winnipeg-JustListed.ca

May in Winnipeg (winter'peg) means it's time to get outdoors after a long winter...and get landscaping. One of those things that I always admire is a great lawn. It looks good and makes a great first impression on homesbuyers when they pull up in your driveway. Here are a few tips I have found helpful in getting the grass looking green all summer long!

FIVE WAYS TO ACHIEVE A GORGEOUS LAWN

1. Water = Green:

Water is one ingredient that your lawn cannot live without, so make sure that you've got a great routine in place for keeping the lawn damp. If you have a good sprinkler system installed, you're already a step ahead of the game! If not, make sure that you're reaching all areas of the lawn if watering by hand or by moveable sprinkler. Water in the evening or very early morning for best results, but don't overdo it!

2. Know how to mow:

Make sure your lawn mower has sharp blades; mowing with dull blades can tear the grass, altering its healthy appearance. Also, the more often you mow, the healthier your grass will be! Mow the lawn at least once per week for optimal results.

3. Fertilize and vitalize:

Invest in a good fertilizer and use it regularly for the thickest, greenest grass. Ever wonder why the fairways and greens on a golf course manage to look beautiful throughout the year? Fertilizer is the key to the greens keeper's success. For the greenest grass possible, purchase a fertilizer with iron content.

4. Weed it out:

Weeds are an obvious eyesore when it comes to the care of your lawn, and you've probably noticed how quickly they can grow. With a good fertilizer program in place, you'll get a step ahead of weeds in no time. For the pesky, hardier plants, manage the growth with a little weed spray (or dig them out by hand for best results).

5. Don't get bugged:

Lawn pests are not just annoying; they are bad for the grass. If you're properly watering, fertilizing, and mowing your lawn, but still have an insect or pest problem, try aerating the lawn; this should help to eliminate the little buggers!

Some homes can sit on the market for extended periods of time. It's not because they aren't priced well, or other factors you might suspect. It's simply because buyers are turned off by details that are often overlooked.

One of those details that carry a lot of weight is the way a home smells.

I thought I'd share some tips with you and hope you'll find it as helpful as I do.

TIPS: on Smells, and Odors

Nothing smells better than clean!

The source of the most common problem odors: pets, smoking, cooking, and mold or mildew.

A zippered pillowcase filled with cedar chips, placed under a pet's pillow bed, will absorb most of the unpleasant odors.

Boiling an apple, a teaspoon of cinnamon, and a few drops of vanilla on the stove will remove burnt smells in the kitchen. Add orange peels to make a simmering potpourri.

Sprinkle baking soda directly onto carpets, rugs, and sofas to eliminate odors-then let it sit for at least 30 minutes before vacuuming.

A bowl of vinegar placed in a room for a day or two will help neutralize smoke odors.

Small cotton balls with a few drops of your favorite perfume or cologne, tucked discreetly around the home, can freshen a room.

Candles, plug-ins, and home fragrance sprays can work wonders when the scent is well chosen, and not overdone.

Posted by Steve Penner - Royal LePage Dynamic - 1450 Corydon Ave Winnipeg, MB - 204-989-5000 - www.stevepenner.ca - www.Winnipeg-HouseValues.ca - www.Winnipeg-JustListed.ca

Here in the Winnipeg market, I get many people asking me "how do we get our house ready to sell", or "what do we need to do before putting our home on the market?"

Here are a few pointer I like to suggest:

Overall, there is a necessary mental shift that must take place... of no longer thinking of your house as your home, but as a commodity that you are going to be putting on the real estate market.

Letting Go

After you've lived in a house, it becomes much more than four walls and a ceiling. It's a home and it has a lot of good memories. Your first step to preparing your home to sell is to realize that you will take these memories with you wherever you go, but you won't be taking the house. It can be difficult to let go, but the task will be much easier if you start to think of it as a new beginning rather than an ending.

Cleaning House

An important part of getting your home ready to sell is in staging the decor for potential buyers. When you stage a home, you create an environment that is free of any personal items, such as photos and/or anything that stands out as being customized for you or your family. When a potential buyer walks through your home, they need to envision their belongings and decor without being distracted by yours. While these items may be special to you, they could possibly prevent the buyer from being able to imagine their own style complimenting the home. In addition to removing any personal items, make sure that you remove any clutter from the home. A clean home seems larger and more inviting, whereas a lot of stuff lying around could give the impression that the home is too small or cramped for storage. Pack up any knickknacks, remove your children's drawings from the refrigerator and clean up your counter space in both the kitchen and bathrooms.

Staging Your Home

Now that your house is clean, it's time to put the finishing touches on the staging process. A solid, neutral shade in a tablecloth should be selected for the dining room table. Depending on your decor and wall coloring, a solid white, sand or ivory covering will work well. In the center of the table, a vase with fresh cut flowers (or silk, if you have allergies) will add a nice accent. Did you know that the kitchen and bathroom are two of the main selling points to any home? Keep this in mind when preparing your home for potential buyers. The living room should have one focal point, whether it be a fireplace or breathtaking view of the outside world. If you have too many features screaming out at potential buyers, they may feel overwhelmed, so focus on one aspect and make it shine. If you have a mantle, line it with three candles that match your decor in color. Place a large candle in the center with one smaller one on each end, which will be reminiscent of a perfectly matched bookend set. A home with a stunning view should have window dressings that accent the positive, instead of hiding it. If your furniture has a design of any kind, mask it with a solid slipcover to compliment the flooring or wall color. Some homeowners also add a fresh coat of paint to their home, which will bring life back into a fading color. Turn on the lights and open the blinds and draperies to create a bright and inviting environment throughout your home.

Where To Store Your Stuff

Now that you know how important it is to remove any clutter and over-sized or bulky furniture, you need to know where to put it. If you already have a new home, you can simply move it there. Otherwise, you can put it into storage until you are ready to move. It's important to leave some essentials in your former home for potential buyers to see, such as a dining room table, a sofa and chairs, bed, etc. Any additional furnishings that seem to interrupt the flow of your home, or make it feel cramped, should be removed. You do not want potential buyers to feel as though the house is too small.

Details, Details, Details . . .

As a final strategy to prepare your home to sell, make sure that you have any carpet stains removed, windows cleaned, fresh linens placed in the bedrooms and bathrooms, etc. You would be surprised how many people pay attention to even the smallest of details, so be sure to fix any small repairs that could be a turnoff for buyers. Last but not least, make sure your home looks just as good on the outside as it does on the inside. This means that your lawn should be cared for, flower beds must be maintained and any outdoor clutter must be removed.

Posted by: Steve Penner - Royal LePage Dynamic Real Estate - Winnipeg, Manitoba Canada Ph. 204-989-5000; email: stevepenner@royallepage.ca; website: www.stevepenner.ca; www.winnipeg-housevalues.ca; www.winnipeg-justlisted.ca