Realtor Team Specializing in South Winnipeg
Posts By Date
Categories

The year 2020… should I say anything more? Thinking back to last spring, I really didn’t know what this would mean for the Real Estate market here in Winnipeg. The news seemed all but damming. With more people working from home, wages and jobs being lost, and restrictions on how we could conduct our everyday business, I really thought we were in for the worst. Turns out, I was very, VERY wrong. More buyers than ever were being qualified to buy as the interests rates plummeted, people’s priorities were changing in what they were looking for and house prices were going through the roof (no pun intended). 2020 was one of the strongest markets in recent history.


How did that happen you wonder? You would think job cuts and restrictions would mean less people buying and more people staying put, but that isn’t exactly what happened. People who had job security were saving more money as they weren’t going on trips and spending on entertainment, and buyers looking to get into the market saw their chance as interest rates hit an all time low. The demand was high, and the supply…. well the supply was slim to none. While Buyers saw an opportunity, a lot of sellers (especially at first) were hesitant. The fear of a market crash was looming and a world wide pandemic was here. Letting strangers into your home wasn’t on the top of everyone’s list, and who could blame them! The high demand and lack of supply tipped the scale in favour of a seller’s market and the rest is history. Bidding wars, high sales prices and emotions flying, COVID-19 impacted the real estate market more than we could have ever imagined.


The market itself wasn’t the only thing that changed, what buyers were looking for also changed. The COVID-19 restrictions turned our everyday lives’ upside down. All of a sudden, gyms were closed, restaurants were closed and we were spending 99% of our time at home. So naturally, people’s wants/needs in homes changed along with them. These are the areas where we saw the biggest change:



Home Offices: No surprise here. With a lot of the population now working from home, home offices have been on the top of the wish list. What this means is buyers are now looking for homes with either a finished basement or an extra bedroom to set up their home office in.


Houses with pools in WinnipegBigger Yards & Pools: Buyer’s are gravitating to larger outdoor spaces. Less travel, means people are spending more time in their own backyards. Why not make them your own private getaway? Here in Manitoba, pools weren’t always a priority as it is winter 7 months of the year. Not to mention there is a large population of Manitobans who own a secondary vacation property (cottage etc). Due to the travel restrictions we saw a big uptake in the demand for properties with pools.


More space in general: Spending more time at home with our family (although we love them) can make your house feel tight! One of the biggest requests we had in 2020 when talking to buyers is that they “just need more space!”


Home gyms: Between binging Netflix, snacking and zoom calls it’s nice to have a place to let out some of that pent-up energy. With gyms closed and as the temperature drops and we aren’t able to spend as much time outdoors, we have seen a large increase in demand for homes with space for a small home gym.


Detached Homes: We’ve seen a shift from properties with shared living spaces due to COVID-19. Properties with shared amenities saw a dip as health concerns grew.


As we gear up for a what we expect to be a similar 2021, we are taking into consideration a lot of these changes. Not only in what buyer’s are looking for but how to navigate the market in general. We are expecting another year full of bidding wars and high sales prices as there is no evidence of interest rates rising anytime soon. If you have been thinking about selling there is no better time, if you are planning on taking advantage of these low interest rates and buying, we are here to guide you through it.


So, buckle up, we are in for another busy year!




Best Real estate agent in Winnipeg, Ashton Augert

#AgentAshton


Ashton Augert

Phone: (204) 781-1767
Email: Ashton@JenniferQueen.com

Read full post

They’re here! They’re here! All of your photos with Santa, Anna, and Elsa from the Queen Team Client Appreciation event are ready for download courtesy of Brian at Empire Photography!  


Our link can be found here: https://www.empirephoto.ca/queen/ and should work for 90 days.


Realtors in Winnipeg ManitobaThanks again to all our clients for coming out to Landmark Cinemas, Grant Park to make this a memorable day! It was so wonderful to see all of you, enjoy some treats, watch a couple good movies, and catch up. We were completely overwhelmed by the positive response and it has left us wanting to do this again, perhaps more than once a year!  Thank you as well to everyone that brought a non-perishable food item for Winnipeg Harvest.  Your donations led to a truck full of food for some very grateful families.  Thank you again to you all.  We truly do believe that we have the best clients, and you all proved that yesterday! We love you! We’ll see you all again next year!


Realtors in Winnipeg Manitoba


Agent Ashton Augert in Winnipeg ManitobaRealtor Client Appreciation PartyRealtor Amy McDermid Top Real Estate Team


Top Real Estate Agent in Winnipeg#AgentJen


Jennifer Queen

Phone: (204) 797-7945
Email: Jennifer@JenniferQueen.com

Read full post




What fun would August be without a little contest?  None!  Okay, maybe that is a little strong, but we wanted to help you in prepping those kiddos by offering back-to-school prizes!  All your little ones (with your assistance) have to do is:


  1. Right-click on the colouring contest page below and print it out (we will have copies at our office if you do not have access to a printer)
  2. Colour using your preferred medium, whether it be crayons, markers, or pencil crayons, etc.
  3. Drop off your finished picture to The Jennifer Queen Team's office at 1601 Buffalo Place, Winnipeg MB no later than 11 a.m. on Friday, August 23rd, 2019. Can’t make it here in person? You can email us a picture of your work to Jennifer@JenniferQueen.com


Top Realtor Team Colouring ContestWinnipeg Realtor Colouring contestRealtors in Winnipeg Colouring Contest 




One winner will be selected from three different age groups:

Group 1: 3-6 year olds

Group 2: 7-9 year olds

Group 3: 10-12 year olds


The winner from each age group will receive a backpack loaded with the goodies seen above.  Just in time to head back to school!  Happy Colouring!


WINNERS WILL BE ANNOUNCED ON OUR FACEBOOK PAGE BY NOON ON MONDAY AUGUST 26th, 2019.

Right-click the image below to print!


Winnipeg Real Estate Team Colouring Contest

Read full post


If you’ve been following Winnipeg’s real estate market at all these past few months, you’ve noticed a high percentage of homes are selling over the asking price. You may be wondering, how are there so many buyers that are willing to pay more than what the owners have asked for!? The simple answer: The law of supply and demand.

What is the law of supply and demand? It is a simple economic theory where when demand exceeds supply, prices will rise, and vice versa. How this applies to the real estate market is when there is a surplus of buyers who are looking in a specific neighborhood and there is shortage of homes for sale in that specific neighborhood, the prices of homes will rise due to demand. Resulting in, yes, you’ve guessed right, every buyer’s worst nightmare: the bidding war.



If you are thinking of buying a home in the near future there are some things you can do to prepare yourself in the event that you may encounter a multiple offer scenario.



 

Mortgaeg pre-approvalFirst Off, Get Pre-Approved. 

Being confident in how much you can afford when competing gives you a huge advantage. This will allow you to feel comfortable with the number you put down on that offer… even if it may be $40,000.00 over asking! Secondly, the time necessary for the lender to approve your mortgage will be cut down drastically, allowing you to put a much shorter time to fulfill your financing condition, making your offer a lot stronger. It is not uncommon to see offers written with 24 hour financing conditions or even no financing condition at all! If you want to compete with those offers, having a dialogue with your lender as well as the pre-approval will give you the tools necessary to do so.


(It is very important that if you decided to write an unconditional offer you ask your mortgage specialist/broker and your realtor all the risks involved in doing so).  A pre-approval means the lender has already done approximately 70% of the work, but still has a few key pieces that they require to get the final approval.


Know Your Market.

This is where you need to listen to your realtor. Find someone who is familiar with the areas you are looking in. See how many homes in that area have gone over list and by how much. This will give you somewhat of an idea to what you may experience when it comes time to put in an offer. Although every situation is different, being educated in what trends are happening in your neighborhood will help you prepare and will hopefully reduce some of the stress involved with these multiple offer scenarios. An educated buyer is the best kind of buyer!


Know the Market Value of the Home.

Comparative Market Analysis Winnipeg

Market value is defined as “the price an educated buyer is willing to pay for a specific property”. In a “hot market” properties may be listed lower than market value to attract more buyers.  Your agent should be doing a ‘Comparative Market Analysis’ on the property to determine market value so you can make an educated offer. This is not to say properties don’t go above market value, there are many factors that go into what something is worth to someone. It may be that it is next door to their best friend or maybe they just NEED it. It is hard to know what a specific property will sell for, you need to determine not only market value, but what the home is worth to YOU.


Have a Plan.

Bidding wars are stressful, no doubt about it. Talk with your agent about all likely scenarios and what you would be willing to negotiate on. Knowing your numbers before they present offers helps to keep emotions out of it. Keep in mind, in Manitoba your agent does not know what the other offers are and what situations may be associated with them. For all we know, the offer you are competing against could be the owner’s sister. Plans change, but having the discussions beforehand will help ease your emotions at that time.


Write a Letter to the Seller.

Some may say this is a little tacky, but from experience, these have been known to sway sellers in different directions. Read more about the power of a personal letter in #AgentLogan’s previous blog. Let them know what you love about their home, who you are and what you value. Connecting with the home owner may just help get you in the front running to negotiations, its worth a try!


Home Inspections in WinnipegDo a Pre-Inspection of the Property.

The less conditions on an offer, the stronger it is when competing. Putting a condition subject to a home inspection can result in your offer going to the bottom of the pile. This is not to say we shouldn’t do one! Usually, there is enough time before the offers date that you can schedule a pre-inspection of the property, allowing you to write an offer without the home inspection condition but still being confident in the purchase you are making. The only downside to this is if you still don’t get the property you’ve paid for the home inspection!


Be Patient.

The last piece of advice I will give you is be patient. It is not uncommon to write 4-6 offers before finally getting the house you’ve always wanted. This a marathon, not a sprint. I have experienced MANY multiple offer scenarios in my career as a real estate agent, they are all different and they are all unpredictable. Having the tools necessary in advance and the right guidance is key to navigating these crazy things called bidding wars.


Good luck!


Ashton's Advice on Bidding Wars#AgentAshton


Ashton Augert

Phone: (204) 781-1767
Email: Ashton@JenniferQueen.com

Read full post
Categories:   #AgentAmy | #agentAshton | #AgentLogan | agent | agents | basement flooding | benjamin moore | best agents | best real estate agent | best real estate team | best realtor | best realtor winnipeg | best realtors | bidding wars | bridgwater | brookfield relocations | buyer representation | buyers | Buyers, Rent, Realtors, Winnipeg | buying a home | buying a house | children activities | client appreciation | colouring contest | corona | Corona Virus | Coronavirus | cost of buying a home | covid-19 | families helping families | faq | financing conditions | First Time Home Buyers | for the kids | Fort Garry | Fort Richmond | Giving Back | Goal setting | holidays | home buyers | Home buyers winnipeg | home buying | home buying tips | home maintenance | home ownership | home sellers | Home sellers winnipeg | home selling | HomesForSale | house hunting | how to buy a home | life lessons | listings | living in winnipeg | manitoba | market predictions | mls | motivation | moving to winnipeg | pandemic | queen team | real estate | real estate advice | real estate agent | real estate agents | real estate family | real estate in Manitoba | real estate life | real estate team | real estate teams | real life | Realtor | realtor life | realtor reviews | realtor tips | Realtoring | realtors | realtors winnipeg | redecorating | relocating to winnipeg | REMAX winnipeg | renovating | rental equipment | royalwood | sage creek | selling | selling a home | selling a home winnipeg | selling real estate | selling winnipeg | Selling Your Home | sherwin williams | staging advice | Team Update | tips for buying a home | top real estate team | top real estate team winnipeg | top realtor | Top Realtor Team | top realtor winnipeg | top realtors | top realtors winnipeg | transcona | water in basement | whats up | Windsor Park | winnipeg | winnipeg houses | winnipeg manitoba | Winnipeg R | winnipeg real estate | Winnipeg Realtor | winnipeg realtors | Winnipeg Sellers | winnipeg top realtors | winnipeg, remodeling, | Year in review