Kimberly's Blog

How to start looking for a home.

Kimberly Graham (RE/MAX professionals) — Wed, 01 Apr 2009 15:27:05 -0500

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.

a '79 Kind of Flood

Kimberly Graham (RE/MAX professionals) — Mon, 23 Mar 2009 18:03:57 -0500

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.

In which I share my organizing skills with you...

Kimberly Graham (RE/MAX professionals) — Sun, 25 Jan 2009 20:57:44 -0600

Its true.

I really am one of the most organized people you will ever run across. I actually like organizing, colour coding things and streamlining systems. Its not even a control thing, I swear! Its a convenience thing. The time I see people waste looking for things... my goodness, create a spot for it, put it in that spot... simple right?

Apparently not as I have observed.

Its not that people are lazy, un-intelligent or simply don't care about organizing their homes. I really think that it is that they don't know where to start. I am going to share with you some simple things that you can do to get started. This will cost little to no money. This is about keeping your life streamlined, clutter free and focused on making YOU more productive. It doesn't have to be pretty, although that is an option if you are so inclined, it just has to WORK.

Ever heard this?: A place for everything and everything in its place. Sigh... genius words!! But if you don't know where to put things... then they pile up. Stuff needs a HOME. If you have a complete lack of a filing system, its not wonder papers pile up! So this is what you need to do. Pick a "problem area" that you want to focus on. Lets say the computer area or home office. This might be a big project to start but don't fret!

Look at the piles of stuff laying around.
What comprises these piles?
Lets say its: bills, bank statements, receipts, greeting cards, paper clips, pens, photos, craft supplies... etc.

Remember that the reason you have a random pile of things is that they don't have a home, not that you are messy. So categorize the items in the piles. Paper is one pile, office supplies (pens, clips, printer ink, usb cords, etc) is another, craft supplies would be one, and there may even be misc things that don't go in a home office (laundry, shoes, toys). So do you see what I mean? It depends on the stuff you have so create your own categories if you don't like these.

We deal with "Paper" first.
F.A.T
F = File it
A = Act on it
T = toss it

Each piece of paper MUST fit into F, A, or T. Be ruthless!!

Buy a filing cabinet or small filing system, label each folder according to what you need to put in it. For example I have one for bank statements and credit card statements. One is for Insurance (any and all kinds), one for Warranties, etc. Once you have done this file all the paper in the "F" category into its proper category. Now put this away, either in the filing cabinet or on shelves designated for this use. If you are using shelves try to use ones close to the main desk so you will actually USE the filing system you created.

The "A" category requires that you keep this "in sight, in mind". Its where currently due bills would go, or other time sensitive items, papers, etc. Those handy mini stacking shelves made of metal or plastic do the trick!! Keep them on top of the desk for easy access. Then once a bill is paid, FILE IT away.

Toss it is easy, recycle away!!

Now the office supplies.
If you use it often, keep it near you, if you use it seldom, keep it away yet accessible, if you never use it, WHY do you keep it?

My system is good so I will share what I do: I have one large yet somewhat shallow desk drawer. I pile everyday things according to type: notebooks with notebooks, clips with clips, pens with pens, etc. You can use drawer dividers to help keep things separate. If you want you can use a basket, old coffee mug or plant holder for holding pens on top of the desk if you like too.

My seldom used items are things like markers, extra printer ink, extra usb cords. I have a box for each of these things, they stack neatly together in my office cupboard. A great tip is using old shoe boxes or go to the dollar store, they have great stuff there! Always remember to keep things together though, like me and my cords, my usb cords, camera cord and charger, I Pod cord... all those go together so I know if I am looking for a cord of any kind, it is most likely there.

And Crafts? Scrapbooking supplies?

Easy. Again, buy a shoebox, photo box, whatever. Label what is in there and place neatly on a shelf. You will be extra motivated to work on these projects because the items are sorted and right there! How you choose to sort your art supplies is your choice of course, I would settle for you just keeping art supplies with all other art supplies in one place.

But if you want to get creative, use see through plastic containers for small items (ribbons, stamps, stickers). You can place these smaller containers within a larger box if you like or just on the shelf. If you decide to place on a shelf, label the shelf "Scrapbooking Supplies" in red ink, then label each small container or box in red ink. Then you know in a pinch where stuff goes, as does the rest of the family. Do gift wrapping supplies in blue ink, kids art stuff in green... etc.

Rogue Items!!

Now that all the important stuff is filed away, colour coded and boxed appropriately we have random items that don't go in the office.

Get an empty laundry basket and fill it up with the stuff. Now visit each room of your home and take out everything from the basket that belongs in that room and put it away. Do not simply place it in the room, put it away. Do this until the basket is empty. Done!

Actually the laundry basket things works for all rooms, I do this on a regular basis. It allows me to carry lots of things at once. As I visit each room and put away items that belong there, I can pick up things that don't and bring them to their rightful spot. The first time you do this it may be time intensive, but that is usually the hardest time.

These tips apply to all areas of the home: If the garage tool area is messy, the kitchen cupboards have no system or the kids play area is a disaster zone... apply my tried and true techniques and let me know how it goes!

To Have and Have Not

Kimberly Graham (RE/MAX professionals) — Sun, 25 Jan 2009 19:46:05 -0600

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.

So... is the sky falling?

Kimberly Graham (RE/MAX professionals) — Sun, 25 Jan 2009 19:12:02 -0600

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!

FAQ's about Deposits

Kimberly Graham (RE/MAX professionals) — Mon, 06 Oct 2008 14:31:04 -0500

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.

fat free selling...? Now that is a nice concept!

Kimberly Graham (RE/MAX professionals) — Mon, 06 Oct 2008 14:30:18 -0500

Salespeople of all types have had a long history of being perceived by the public as "cheesy". Hey, before you shoot the messanger... remember that perception is reality and we have all heard this! I blame it on tried and true techniques that worked at one point, but never changed with the times. All industries must change, grow and adapt otherwise they become obsolete. Sales will never become obsolete so therefore we have a bigger responsibility to the public to really grab hold of what it is they want, and do it that way.

There are however, those salespeople, like myself who are so far from cheesy we completely exist outside that realm. I would never have the guts to try to pull the cheese on someone and sell them something, I would be frankly just a little embarrassed of myself! *chuckle* As a salesperson I actually do not like it when someone tries to "sell" me something because I am always looking for the gimmick behind the sales pitch. So I truly do understand why people are wary of salespeople of all kinds. I hear you, and I get it:) Funny thing is this cheesy-ness seems to really work for some people, but since I know who I am as a buyer, wary at best, I know that the market calls for a niche of salespeople who can think outside the cheese wheel and treat our clients the way we want to be treated. (fat free!)

Recently I decided to bite the bullet and go car shopping. First of all, you should know I did not want to deal with purchasing a new car, the whole idea was scary and daunting, I was worried about being sucked in to some sale by a bone fide "cheesy" salesman and the whole thing was almost too much. I was not even that particular about what I wanted, keeping in mind I know houses, not cars! Since I believe that you should do what you do best and refer the rest, I had to put my faith and trust in a complete stranger. Scary! I voiced my concerns to a friend and fellow realtor who referred me to his car salesman and I have to say, my experience was more than positive! Real estate is clearly a people and sales driven and focused business. I exist inside that world every day and I always try to understand my client's perspective. Now I was on the other side of the conversation and it was a great reminder for me that cheesy has no place on a negotiations table. In fact, I loved it! I loved it because it proved to me that my theories of cutting the cheese out of real estate sales has clearly bled to other sales industries and that a new, refreshing way of doing sales has truly taken hold. The best part? That honesty, integrity, and fun were on the table when working with the car salesperson. A friendly straight shooter from the get go, he wasn't up to any tricks, and I appreciated that. He wasn't afraid to suggest a car I had never thought of, anticipating my needs before I even had to ask, it was a relief to know he knew what I wanted because I really didn't! For the record, I am getting the car he suggested!

Selling and living in a world where I have to be sold on something, cheese free, is an interesting, innovative and frankly refreshing concept that all salespeople should embrace if they haven't already

So fat free selling, cutting out the cheese, seems to be creeping in the back door, of car lots and real estate alike... a refreshing wind of change that will only leave the community at our fingertips able to trust us more, and hopefully leave them happier. Which is an exciting concept to those of us who care about what we do, aren't just in it for the sale, and get a sincere satisfaction out of making the right match... a realtor to her car; a family to their new home. Like I said, sales is really all about the people, and that is where our hearts really lie.

Some Forecast Notes... Winnipeg in 2008

Kimberly Graham (RE/MAX professionals) — Sat, 02 Feb 2008 16:44:53 -0600

Information courtesy of Peter Squire and Winnipeg Real Estate News

I have gotten a lot of questions lately about where I think the market is going to go... will it remain strong, balance out, or fall flat? Where the most sensible thing is to hope for a balanced market (if only to give those poor buyers a break!)... it looks like Winnipeg forges into 2008 with strong numbers, and even stronger hopes for another banner year.

I had missed the opportunity to attend our annual forecast breakfast this year due to prior commitments, but I did have the opportunity to speak with Peter Squire of Winnipeg Realtors Association who was a keynote speaker that day. He shared some great insight and information with me that I thought would be helpful to share.

First of all, lets consider statistics. I will share with you what we are looking at for 2008 as far as the forecast is spelled out in stats, and will also touch on last year's stat forecast and what the actual outcome was. Statistics are great because it breaks real estate numbers down to the basics, keeping it simple. Remember these are only forecast numbers, they are based on many different economical factors.

2008 Forecast

The amount of homes for sale: 0 - 2%
Home prices: 10 - 12%
Condo prices: 8 - 10%
Total MLS dollar volume: 12 - 14%

Now, lets look at what the forecast for 2007 was and what the real outcomes were

Forecast Actual
Amount of homes for sale: 0 - 2% 5%
Home prices: 8 - 10% 13%
Condo prices: 10 - 12% 7%
Total MLS dollar volume: 8 - 10% 19%

So we can see that 2007 played out almost better than expected, with the exception of condo sales we more than met our mark. With residential homes still dominating our market at over 74% there is no surprise there. It almost seems that condos in Winnipeg have not quite caught on the way they have in other major Canadian cities. Of course I am sure that will change as anyone can see the construction of new condos in Winnipeg.

Some other interesting points to consider is that consumer confidence and employment remain strong, we are experiencing positive population numbers and household growth, and construction intentions are high (we hit a 20 year high in 2007 for new home construction).

So what does this info mean and how can you apply it to your own personal house hunting experience? Obviously it depends on what category of buyer or seller you fall in. As a buyer, are you an investor, or looking for yourself? And as a seller, are you selling a family home, first time buyer home, investment property...? It is important to know your target market.

If you are an investor, you most of all will find this info useful. For non-investors, this may or may not help you, but the best advice I can give is to examine the numbers from 2007 and see how they came out higher than before... if 2008 will be the same then that means the best and cheapest time to buy is right now, or as soon as you can.

For sellers, right now it doesn't seem you have a lot to worry about.

Once again, thank you Peter Squire for sharing your information with me, without which, I could not have made this blog as handy as I hope it is!

Winnipeg is a Seller's Stage!

Kimberly Graham (RE/MAX professionals) — Tue, 22 Jan 2008 20:24:25 -0600

Hey fellow bloggers!

Welcome to minus 40 degree weather! One could say at least it is sunny outside right? That is little compensation for some people who have to bear the winter's brunt to go house hunting today. With all those buyers, and not enough houses on the market, there is no wonder it is a seller's market currently in Winnipeg. A seller's market happens for two reasons, lots of buyers, and not enough houses for them. For those interested in buying, it can often be a struggle to get out and see all the best listings before they are all gone. And with the best of listings, buyers are often assured they will be competing against other buyers for that house. It is often a frustrating thing, even for agents who work with their buyers. No one likes to deliver bad news. That is par for the course these days, and is part of the reason Winnipeg is a seller's stage!

With fewer listings on the market than demand calls for, sellers are almost guaranteed a bidding war if they use proper techniques of listing their homes. By that I mean, clean, well cared for, and priced correctly. Sellers will never benefit from over pricing their home. It will just sit there and sit there. Always remember that when you decide you want to sell your home, it is no longer your "home" it is your asset. So if you are thinking of taking the plunge and putting your home up there try to keep those points in mind. Also, if you are selling your home to upgrade and figure you will capture the market in the meantime, keep in mind that you will eventually need to buy something to live in too! On that note, remember to be nice to the buyers looking at your home because eventually you will be one of them. There are lots of tips to creating that sell-able home that captures the market at that perfect turn. Be dedicated to getting it done, take your Realtors advice (because after all that is why you hired them!) and remain focused. Good luck with your sale!

Condos... the great unknowns and most important details you should know

Kimberly Graham (RE/MAX professionals) — Tue, 22 Jan 2008 20:22:11 -0600

After the last little while of working with clients looking for condos in Winnipeg, it dawned on me that there are a lot of misconceptions out there regarding the process of purchasing a condo, and how it is different from that of purchasing a home. Below is just some information I have gathered from my experience and perspective. It is in no way a complete guide to condo buying in Winnipeg, but perhaps it is a start to some questions you may have.

Lets start with the basics. Condos differ from houses with their definitions of ownership. In a house you own, as long as you hold complete title to the home, you simply own the whole thing. In a condo, you own completely the unit you live in, but any and all common areas are co-owned by everyone in that condo building or condo project. A hallway, pool, parking lot or courtyard are all common areas because all people who live there have access to them. As a result of the common area aspect, there has to be some money put aside every month to maintain them and put repairs in when things need to be replaced. This is where the idea of condo fees comes in. Certainly this is not a lengthy explanation of condo fees and how they work, but will give you the basic concept. Condo fees are based on a case by case basis and can be anywhere from $100 to $450 monthly, and is not even limited to that amount. Condos by their very nature can be different, some are apartment style, some are townhouse style. Therefore, different condo fee structures apply. The monthly fee that you pay as your condo fee covers the cost of a few different things. Some money is put toward the reserve fund and some for the management of the condo as most condo boards can employ a management company to be in charge with the condo board. Other things that may be included would be maintenance like grass cutting and snow removal. Occasionally things like heat, cable tv, parking, water, etc are included but not always. To be sure about your condo check with the listing form to see what the exact inclusions are. Never ever assume that one condo has the same inclusions as another, in fact it is safer to assume that each is completely different.

Another major fee that could potentially apply to you as a condo owner is something we call a special assessment. It has also been referred to as a cash call. This does not always happen, and in fact could possible never happen in the time you live at that condo. An example of how this could happen is the roof of the condo building needs to be redone, perhaps they take some money from the reserve fund, but if that doesn't cover the cost it will be up to the condo owners to come up with the balance. This can be ANY amount and may mean a one time fee of $1500 or a year fee of $1000 that runs for three years. There are many scenarios that could arise out of a special assessment and it is important to get all the facts you can. The great news about this is that if the condo board knows they will be doing repairs and a special assessment is in the future, this info has to be disclosed to potential purchasers in the 48 hour cooling off period (I will explain the 48 hours below). So as long as the condo board has made the decision it will be disclosed to you and you can decide if it works for you or not. Hopefully you are made aware of any repairs needed before you buy, and not after you move in!

Condo documents, or condo docs as we call them are our information gateway into the runnings of this condo and its board. It includes, but not limited to: by laws, rules, financial statements, status certificate, minutes from board meetings and disclosure statements. This information is valuable. Usually myself and the lawyer will look over the condo docs for you to see where things are, but some buyers like looking through these things as well.

The 48 hour cooling off period. This is put in place for the protection of the buyer's interest. Basically how this works is: The offer you put in on the condo is accepted, as soon as possible the agents will exchange the condo docs and the receiving of those docs is in writing by you the potential buyer. From the time those docs are received the 48 hour cooling off period starts. This is the time to get all the info from the condo docs. If you are happy with everything, then that is great. If you find something in the documents that you are not happy with, like a cash call for example, then you have the right to cancel the purchase of the condo unit. This MUST be done within that 48 hours so make sure to ask the questions that are important to you about the condo docs in that period. Once the 48 hours lapses, and all conditions are satisfied then you have officially purchased the condo! Congratulations!

For any questions on purchasing or selling a condo in Winnipeg, please be sure to contact me!

First time buyers, and why I love them!

Kimberly Graham (RE/MAX professionals) — Wed, 07 Nov 2007 16:25:52 -0600

First, let me prefice in saying I love ALL buyers! But I thought a post dedicated to first timers was long overdue for a few reasons. For example, often times I have had first time buyers say to me"ohh.... no I don't need an agent, I am just going to work it on my own." Yeahh.... that is probably not your best bet, and I will let you in on the secrets as to why that is:

1. There is a lot to the market place that as a first timer you don't even realize you don't know or are missing out on.

2. Why limit yourself? If you are hitting up only open houses, or ads I should let you know that less than 5% of homes every have an open house, some agents don't even put ads in the local papers like the Winnipeg Real Estate News... so there is a lot of stuff you are missing out on.

3. You think you can find the perfect house online. Well, you can be close on this one, if you have discovered MLS.ca then that is awesome! Browse away, check it all out. As a Realtor I have access to those sames homes that you do, but with a lot more info, the actual address, the number of days on the market... etc. The one thing you cannot do with an online ad is actually see the house, yes the living room looks like it would fit your new 42" plasma screen TV.. but only seeing it in person can really answer that question. Not to mention that you need a feel for the place, you need to feel at home. Only a Realtor can let you in the door of a house listed on MLS.

4. Oh, actually this is important and should really be number one, but, here in Winnipeg and Manitoba, agents are FREE for buyers! Yes, you heard me, FREEEEE..... (believe me, this is the only freebee you get when buying a house, so grab on!)

5. Why wouldn't you want someone who represents only you? Believe me, there are a lot of sharks out there, so take the time to find a good Realtor that you connect with and can trust, then go looking for a home. That way if you encounter a nasty situation, you wont feel stuck on how to deal with it, you have someone on your side to help you.

and... wow... I could go on for a while answering questions and adding in some great info, especially info first timers have. I am going to redirect you to my website at www.kimberlygraham.com for more information. It is pretty much all there, and whatever isn't, drop me a line to let me know what you think is missing and I can add it in.

Oh wait! The most important part of this post... WHY I love first time buyers! Because, no matter what age or background, first timers have a certain something to them... they are not jaded to the process, they are eager, they are enthusiastic and fun, and most are not afraid to ask questions. I also adore that I get to be a part of that process for people, being involved in the major decisions of a person's life, well, it is frankly flattering! I am always honoured when a first timer chooses me, because there are a lot of choices out there, so I appreciate it. More than that, I like that this is the start of a life long business relationship together. And another little secret for you buyers to know: I love answering questions about real estate! Answering questions means I get to talk about one of my greatest loves... so thanks for that.

AND I love it when the buyers know that Realtors love them back... so I thought I would post this, and let you all know that!

Putting your heart into it

Kimberly Graham (RE/MAX professionals) — Tue, 30 Oct 2007 16:23:10 -0500

Over my years in this world I have found that the people who "make the most of it" are the ones we tend to envy, put on pedestals, and just plain like! They join teams, chase their dreams, volunteer, donate time and money, and they love it! They are the ones that "get" that life has more to it than TV and stress.

So how do we tap into that love and like them "make the most of it"?

By putting our hearts into it.

We have to find something in what we do that means something to us, that holds a special significance. You don't have to conquer the world at first grab, or be perfect while doing it. I think it is important to remember that it is one step at a time, life is not an over night change, over night change takes a life time to complete.

With that said, I approach life with the one step at a time mentality. I believe it is the possible absence of this mentality that has lead to us feeling over worked, stressed and unhappy.

One thing I decided to do as a Realtor was give back a little to the things I care about the most. I am happy and proud to report that currently, my brokerage RE/MAX professionals is the only true Miracle Office in all of Manitoba!!!!!! Miracle Office means that 100% of Realtors in the office have donated money to the Children's Miracle Network. This is an amazing accomplishment, and a true testament of the co-operation and dedication of the people in my office!

Above that I decided that I really wanted to foster my life long love of animals by donating a portion of my commission from every listing I have to the local Humane Society. This has been a slow start for me but I sincerely hope that the more listings I sell, the more money I make for them!

This is just part of me, putting my heart into it

Canadian Press Release - Housing Sales Forecast

Kimberly Graham (RE/MAX professionals) — Mon, 22 Oct 2007 16:16:40 -0500

The RE/MAX Housing Market Outlook 2008 examined residential real estate trends in 18 markets across the country. The report found that while economic prospects will continue to improve next year, few major markets are expected to exceed record sales levels set in 2007. Winnipeg, Hamilton-Burlington, Kitchener-Waterloo, London-St. Thomas, Ottawa, Sudbury, Saint John, Halifax-Dartmouth, and St. John’s are all predicted to buck the trend in 2008, with appreciation ranging from one to seven per cent. Average price is forecast to increase in 78 per cent of markets surveyed next year, with the lowest price increase expected in Edmonton and the highest in St. John’s.

Nationally, the number of homes sold is expected to break through the half-million threshold in 2007, climbing 13 per cent to an estimated 545,400 units, up from 483,770 units one year ago. Average price is projected to appreciate nine per cent to $303,000, up about $25,000 over 2006 levels. In 2008, home sales are expected to retreat to 500,000 units while Canadian housing values are forecast to continue their ascent, rising six per cent to $321,000.

Clearly, economic prosperity has translated into increased housing sales and upward pressure on prices across the board. The country’s economic engine fired on all cylinders throughout the year, despite dire conditions south of the border. As in 2007, inventory will be the major wildcard next year—the ultimate variable most expected to influence housing market conditions and performance. A return to tight market conditions could mean all bets are off as buyers are forced to compete, creating increased market pressure.

Major market frontrunners for price appreciation in 2008 include St. John’s (12 percent), Regina and Kelowna – Central Okanagan (nine percent), Hamilton-Burlington and Saint John (eight per cent) and Greater Vancouver (seven percent). Leading the country in sales growth next year will be Kitchener-Waterloo (seven per cent), followed by Hamilton-Burlington, London-St. Thomas, Sudbury and Halifax-Dartmouth, each forecasting a five percent gain. Higher mortgage rates and increased inventory levels failed to materialize in most major centres, making 2007 a record year for real estate activity in Canada. By year-end, housing values across the country are expected to shatter existing records. Serious double-digit increases in average price are forecasted for Saskatoon (49), Edmonton (31.5), Regina (21), Calgary (20), Sudbury (20), Kelowna (19.5) Saint John (17), St. John’s (12), and Greater Vancouver (10). Saskatchewan dominated real estate news in 2007, reporting some of the highest percentage increases in unit sales. The number of homes sold in Regina by year-end is expected to top 35 per cent, bringing sales to an estimated 4,000 units. Saskatoon is forecast to climb 28 per cent to 4,400 units in 2007. Other centres expected to post double-digit gains in activity include Saint John (19 percent) Kitchener-Waterloo (13 percent), Halifax-Dartmouth (12 percent), St. John’s (11 percent), and Toronto (10 percent).

“Western markets were first out of the gate in 2007, but those in the East followed suit,” says Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “By year-end, some of the most impressive gains in home sales will be realized in Ontario and Atlantic Canada. Solid economic fundamentals, including billions of dollars in capital projects, a positive unemployment outlook, and solid consumer confidence levels will propel markets forward. A slow and steady growth trajectory, minus the peaks and valleys experienced in 2007, is forecast for next year.”

Source ~ RE/MAX Housing Market 2008 Report, 10/17/07 - RE/MAX of Western Canada (1998) Inc.

ummmm....what's a Grow Op?

Kimberly Graham (RE/MAX professionals) — Mon, 22 Oct 2007 16:06:32 -0500

What?!

I was asked this question recently by a client and it really threw me for a loop! I guess its not safe to assume we are all addicted to the news channels and know what these are all about. Since they are kind of a big deal, and there is certain protocol in place here regarding the sale of former grow ops, I thought I would bring to light what exactly this was!

Grow ops, also known as Grow Operation(s) refers to when a house has been used by individuals to harvest or grow drugs. Mostly used for marijuana, we are now seeing the existence of meth labs (which are not grow ops), which is a scary reality in our world (and perhaps another topic for another day?)

The damage that cultivating marijuana can do to the house is devastating. High humidity levels are needed for the plants, and this grows MOULD. Mould can take over the house, and in extreme cases can mean serious renovating or tear down due to the damage it caused. When I say mould, I am not referring to the small amount that exists in your bathroom because you don't have a fan in there to help get the humidity out.... I am talking about entire sheets of drywall being eaten up with the harmful black stuff... gross huh? Most often you will find the most severe damage in the basement where most of the operations take place. However anyone will tell you that mould will spread out to other areas of the home. To get insurance on a former grow op after you have purchased it is possible, albeit tricky, and there are conditions which you must adhere to as a condition of the insurance. First of all, the affected area will most likely have to be gutted if it hasn't been already. Also an environmental survey will have to be done to make sure the house is safe to live in, and would pose no further threat of the mold continuing to grow and spread. However since I am not the expert on insuring tricky to insure properties, I called in my Insurance contact Kris Moffat from Niverville Insurance to see what he had to say on the subject:

"As for the insurance, not all insurance companies will insure former grow ops, but there are at least three major insurance companies that will. These companies want to be sure that the home is structurally sound. The major item which they want completed is an Environmental Site Assessment, which includes and is not limited to, a report by a structural engineer and a mould investigation (as a side note insurance policies contain mould/fungi exclusions any way, but they still factor this in for structural issues, potential liability defense costs…etc). If the report checks out, they will then look into insuring the property. This will of course still depend on the overall risk which will include items such as: Location of the home, the new clients claims experience, the new client’s former payment history, the coverage being applied for, etc."

"If a report does not pass, the client will not be able to apply for insurance through a standard insurance market. In those cases we would then attempt applying for coverage through a specialty market, which in turn would have extreme ratings, and multiple coverage exclusions ie: collapse. In the end even the specialty markets may still decline the risk all together as these homes should be repaired prior to looking into insurance. "

Not even touching on the health detriments of folks who run these type of operations, there is a very real concern for people who buy these homes that perhaps all the mould was not eradicated. If anyone in the family has any sort of respiratory concerns (especially asthmatic children) you would be safe to stay away all together.

So by this point are you really freaked out? Try not to be! There are safeguards in place to ensure that you are not trapped into buying one. Manitoba law dictates that if the home being listed by a Realtor is/was/has been a grow op.. THEY MUST DISCLOSE THIS, absolutely NO exceptions. So rest easy there. If it is a private sale and was once a grow op they are legally obligated to tell you that as well, however, I would proceed with serious caution with a private sale that was a grow op. Also, mould does have quite a smell to it, and you will be able to tell if you are in one ( I always say that you can "taste" the mould). I suppose the only real catch here is that if the grow op was never busted... do they have to tell you about it? Well, of course they really should, but if the owner of the home is the owner of the grow op.... well.... hmmm.... might not work out that way!

Is it possible to buy a grow op, fix the problems and live in it as a normal, healthy, functioning home? I would bet it would be, and certainly has been done, but of course it entirely depends on the house itself. I saw a grow op once, house was only 25 years old at most, very solid and actually although it was bad, the damage was minimal compared to others that are out there. And imagine if the house was an old decripit house, no way could a house like that handle severe moisture damage.

For those of you in the city of Winnipeg it would be interesting to note that our police department keeps a record of the latest busted grow ops by address. The link for this site is as follows: http://winnipeg.ca/police/drug_awareness/growop_addresses.stm
There is also lots of other info on there for the interested party.

So what is my stance on selling a grow op? Since some are salvageable so I say lets give it a shot, as long as you understand what is involved in the situation. Each home purchase is approached in a unique manner anyway and this is no exception.

This is just some of the basics, if I come across new info I will add it here or in another post. There is a lot more information out there if you are interested in looking, just hit up google, see what they have to say:)

establishing contact with a good Realtor

Kimberly Graham (RE/MAX professionals) — Sat, 13 Oct 2007 20:48:02 -0500

So I thought I would talk a little today about one of the ways you can get the most out of a first encounter with a Realtor. Often I have heard complaints from the public about our business practices... we can address those all in due time, but today I am going to talk about that "first phone call".

The first call is the one you make when you have just decided to buy or sell, and call up a Realtor. Often people who are new to the business of real estate are nervous and don't know quite what to ask or to expect. Maybe you got the Realtor's name from the newspaper, TV or radio spot, or maybe from a for sale sign in the neighbourhood.

So you call them and they don't call you back. How did that happen! Why didn't they call you back!?

Understand that most Realtors simply cannot call you back within 10 minutes, this is not realistic. They could be driving, or out showing homes with clients. Unless I let my clients know ahead of time that I am expecting a call I will not answer or return calls when with those clients. The ones I am with deserve my full attention.. wouldn't you want the same from your Realtor?

Also, keep in mind that sometimes Realtors are busy, unfortunately they may forget to call you back, or may not have the time that day. You decide what a fair and realistic amount of time is to wait for a call back... if you haven't heard anything from them, just give me a call! All Realtors have access to the same information, and I can certainly help you out!

But back to the initial phone call!

First off you should know that a lot of Realtors use their office or a paging service to manage their calls, so most likely the person you talk to on the phone is from the Realtor's office or is from the paging service... those people do not know personal info about the Realtor or the listing you may be calling about. They will take a message and send out a page to that individual with your information. You want to make the most out of that first call, you want the Realtor to know you are a serious buyer or seller, and you want to make sure the Realtor is the one for you.

For effective call back and meeting strategy, do the following:

1. Give your full name and number, and use a real number, not a fake one!

2. Leave a small note saying what it is you are looking for information on. Are you interested in a property they have listed? Want to know about listing your home for sale? The more information you leave, the better chance you have of them calling you back.

3. When speaking with the Realtor make sure to be open to giving your information out, and feel free to ask questions of the Realtor. When a Realtor asks you for your full name and alternate phone numbers, it is not because they want to stalk you, its so we can contact you better. Also, a person willing to give out that information is a client who is serious about selling/buying.

4. When making appointments with Realtors, do not request that they meet you in odd places... this will make the Realtor nervous and make them think that you are not really interested in real estate. Saying things like "lets meet in a parking lot" Or "I get off work really late, the house I want to sell is vacant, shall we meet at 10pm?" Will NOT get the Realtor to call you back! These are "red flags" to a Realtor and suggest that it is ill will you have in mind, not house shopping. So if you are really serious, be open to meeting at their office first.

5. Pay attention to the Realtor on the other end of the phone, are they asking questions that focus on what you are looking for? They should be!

6. Make an appointment to meet if you feel a good vibe from the person. This meeting will help you get an better feel for the Realtor, get questions answered, and start to rev up that excitement! Also, it gives us Realtors a chance to educate our clients... I strive to be the best link my clients can have to the world of real estate, and you as a client deserve nothing less.

This day in real estate... Oct 13, 2007

Kimberly Graham (RE/MAX professionals) — Sat, 13 Oct 2007 20:47:16 -0500

Hey real estate bloggers!

Welcome to my inaugural blog... dedicated to all you folks out there who are just wanting to be "in the know" as far as real estate goes.

Winnipeg woke up to a bright and sunny morning, which was a welcome change to the dismal gray skies we have all had to live under these past few days. Since I have a deadline looming for a class I am taking, no showings for me today... and I am so disappointed about that! Finally a good day, and I have to waste it sitting inside.

This week fared well on the real estate sales front for me, but how is the rest of the city hanging on? Well, every month I have been in real estate so far has yielded equal or higher sales than the same month of the previous year. That is not to say I am responsible for that, only to point out our market is hot, growing and ever expanding! This is good news for our economy as we are surging forth into the new year in a few months with great hopes for Winnipeg's home buyers and home sellers. Winnipeg Realtors (the real estate board) stats for September indicated that we again reached an all time high of over $177 million in sales, which is up 15% from September 2006... that means we are well on our way to the goal of reaching $2 billion in sales by this years end. September was also the fifth consecutive month with over 1000 units sold and with the ever increasing condo market, we can only expect some more great things!

Some of you born and bred "Peggers sometimes seem very anxious and nervous about what is happening in their neighbourhoods... how did the prices get so high, and the competition so fierce? Truth is, the housing market in Winnipeg has been lagging behind the rest of the country for years. A boom in housing demand a few years ago is what started the demand and increase in price. The good news is, on average we are STILL cheaper than any other major Canadian city! So when house hunting and selling always remember to look at the bigger picture.

Check out this link to see what average homes are selling for across the country...
http://www.crea.ca/public/news_stats/statistics.htm

On the downside, mortgage rates are on the rise again... so for those of you who secured a good rate in at the bank, try to get your home within the time-frame that the rate is guaranteed. If you have any questions about how you can protect yourself from scary mortgage rates give your banker or broker a call.

AND! Since this is my first blog... I am going to ask for feedback... what do you homebuyers and sellers want to hear about regarding real estate in this city? You name it, I will blog about it!

~ Cheers!
Thanks for the words
Kimberly

www.kimberlygraham.com

Kimberly Graham (RE/MAX professionals) — Sat, 13 Oct 2007 20:41:52 -0500

For all the best blog and real estate information I have to offer, check out my website and blogsite at

www.kimberlygraham.com

I love the feedback and comments of fellow realtors. What kind of things are you doing on your websites that you think would help mine? Also, feel free to use anything from my site that is useful to you... as long as you are not in my area I don't see the harm