It's finally that time of year where we start to get our homes in tip-top shape to welcome the warmer weather. To some, it can be a challenge to face the rooms that seem to have been neglected over the long winter. In this post, I'm going to give you some tips from a Realtor's perspective on how to tackle the project of spring cleaning.
In contrast to a near record year in 2017, 2018 held its own with sales down 5% from 2017 and 6% from the best year on record in 2016. Sales of 12,773 were down less than 3% from the five-year average and 1% lower than the 10-year average.
The annual dollar volume, however, of $3.77 billion decreased just short of 4% from 2017 and increased almost 3% from the five year average.
The 23,834 listings entered on MLS® in 2018 increased 2% over 2017. There were 3,235 listings still available by the end of 2018.
“Keeping things in perspective, with some of the headwinds we faced in 2018 with higher interest rates and more stringent mortgage qualification requirements, it should be no surprise that 2018 fell short of our best years on record,” said Chris Dudeck, outgoing president of WinnipegREALTORS®. “Simply put, we believe fewer buyers were able to qualify and successfully complete a purchase they wished to make in 2018.”
Sales of both single-family homes and condominiums were just one day short of the the average amount of days it took to sell them in 2017. One of the top reasons the WinnipegREALTORS® market region was less effected in comparison to other housing markets was because of it's assenting housing affordability.
Dudeck then added, “I see 2018 as more policy-induced retraction, albeit a modest one, than changes in key market factors from 2017.” Market metrics are closely aligned between the two years. For example, in terms of achieving a total sales price dollar value ratio close to total list price dollar value in 2018 for single family homes which sold, the annual ratio compares very favourably — 98.48% versus 98.59% in 2017. Another metric to note is average days to sell a home or condo in 2018 only took one day longer than 2017.”
The December 2018 RBC Housing Trends and Affordability Reports demonstrates that "ownership costs remain well under control". The measure of 31% for the third quarter is very close to the long-term average of 29.5%. The RBC Report states: "The slowdown in activity in 2018 has been orderly with demand and supply remaining in balance overall, although the condo segment showed more visible signs of weakness."
I'm sure that when you think of the best times to buy a home, you immediately think Spring or Summer. However, while it may be true that there are more homes on the market during Spring and Summer months, house-hunting during the winter may actually be to your advantage. In this post, I'll give you insight from a realtor's point of view on why buying a home in the winter may actually be the better choice.
1. Fewer buyers to compete with
This is the main and most obvious reason to purchase a home in the winter. The market is less saturated with buyers, and you'll get your pick of the crop, whereas in the spring and summer months, there are no shortages of potential buyers, leaving you with more competition and stressful bidding wars, leaving you paying more in the end for your dream home.
2. Prices are lower
When buying in the winter, the market is a lot slower, and there isn't a huge interest in real estate, which leaves home sellers with no choice but to lower their pricing to attract serious buyers.
3. Sellers are more motivated
Sellers will be more motivated to cater to your needs to get their house off the market and have a sold sign hanging out on their front yard. They are more likely to negotiate the price of their home, whereas in the peak season, you will face a lot of competition and not have the chance to negotiate a fair price, so basically, in the winter, sellers are getting less attention and will be eager to work with you, leaving the low-demand in your favour.
4. Your Real Estate Agent has more time for you
Real Estate Agents are always busy, and thats just a fact. But in the Winter moths, you'll probably leave fewer voicemails than you would during peak months. Their schedules are cleared up just a little bit more because it's a slower season, leaving them with more time to study the market and help you find your dream home quicker than ever.
5. You get to see how the home reacts to cold weather
This is especially if you are house hunting in a colder climate. You get to see first hand how the home copes with colder weather; such as the furnace, the basement, windows and door sealant, the fireplace… etc. Getting this unique opportunity to see how well the home copes in colder weather is something that isn't to everyones advantage in the spring and summertime.
So, what are you waiting for? Call me today and lets get house hunting!
November is here, which means snow is right around the corner! It's important to consider the potential damage cold, icy and snowy conditions can cause to your home, if it isn't properly prepared.
Today, I'll provide you with tips to help you prepare your home for the upcoming winter months.
Have your furnace professionally serviced/change filter if needed
A routine check up on your furnace to ensure it's running properly and efficiently, could help you save money once winter arrives.
Store hoses and turn off outdoor water
Remove your hoses from outdoor faucets. When the freezing temperatures arrive, and garden hoses are left attached, water can easily backup in the faucets within your exterior walls, causing it to freeze and expand, which can lead to cracks in your pipes.
Seal cracks around doors and windows
By sealing cracks that could let cool air in, you'll save yourself a lot of hassle and heat bills in the winter. Using colour-matched caulk found at your local hardware store, make a trip around the exterior of your home and seal up any cracks you may find between trim and siding, around windows, doors and where pipes and wires enter your house.
Clean your gutters
Check your gutters and clear out any debris such as fallen leaves, twigs, dirt and gunk. Make sure there is no where that water is being trapped, trapped water leads to ice build up when the temperature drops, which will lead to expensive repairs. Make sure you also replace any worn or damaged gutters and downspouts.
Direct drainage away from your home
Take a close look at the soil surrounding the foundation of your home and make sure it is sloped away from the house. By doing so, you'll prevent water from soaking into the soil which can cause cracks and leaks in the foundation.
Inspect your roofing and shingles
Make sure your roofing is in good shape before winter hits. Replace any loose, cracked, buckled or missing shingles as soon as possible.
Trim plants, trees and bushes
Now that summer is over, it's important to trim down the plants surrounding your home to be at least 5 feet away. This will prevent moisture from dripping onto your roof and siding. This will also help prevent damage to the exterior of your home during high winds.
Inspect chimney for blockages
If your home has a fire place, be sure to check the chimney for blockages and damage. If you come across anything unusual, make sure to hire a professional before use.