I love being a Realtor. A Real Estate Professional. A Real Estate Investor. The mobility, the people, the trust. I love it all. Self motivated, driven to become the best I can be. The privilege of helping others. The gratitude for a new day. Waking refreshed not knowing what mysteries are unfolding, the expectation of challenges. The person I am becoming, through the education and wisdom received from the daily lessons.

Last week, I packed up a few treasured belongings and steered West - to new horizons - the making of a new life in Kelowna. Tall prairie grass bade me farewell as the odometer clicked off the first 900 miles. Balmy breezes in Calgary, a quick meeting, hugs and handshakes with fellow Realtors- then into the mountains. Canmore, Banff, beauty, serenity, James Ray preaching over the speakers. Abundance. To be free and alive - a 70's tune almost made it to the forefront of my mind. Janis, and Bobby McGee, truck drivers and windshield wipers. High Expectations.

Then Rogers Pass and the introduction of a red warning light TRANSMISSION REQUIRES URGENT CARE dashed my feelings of goodwill and harmony. You know that sinking feeling of being on a roller coaster which has just hit the bottom, the rail curves and your car begins the slow descent to the top, and you are not really sure if it is going to make it, or why you are on the ride in the first place? Self doubt. Recriminations. High spirits replaced by negative emotions easily slipping into agonizing words of self pity, remorse. Easily ruining the trip, great big, huge grey boulders on the path.

Or not. Remember those Choose your Own Adenture Books? The choice is always ours, and as a Realtor I have grown into a person I like. One who chose not to let an AWOL transmission mar my journey, my adventure, my day. Overcoming obstacles. That is what I have learnt as a Real Estate Professional. Basement leaking? No funds on Possession date? Hidden Knob and Tube wiring? We shall overcome. Patience, perserverance, intelligence, and a calm optimistic attitude welcomed me to Life in the Slow Lane as I flashed my way towards Ravelstone, and safely shifted into park.

FIRST RECORD MLS® SALES MONTH IN 2009

September MLS® Sales Up 3%; Dollar Volume Rose 11%

 WINNIPEG - It took nine months to set a new monthly MLS® sales record this year but they say patience is a virtue so it is worth waiting for. Third quarter MLS® sales in 2009 were almost on par with the same period in 2008. This result shows the Winnipeg real estate market has returned to its former glory with healthy market activity. Even more impressive is the continued dollar volume rise as evident from an 11% increase from 2008 to 2009 in the third quarter. Year-to-date dollar volume is now less than 3% off the record dollar volume pace set last year and just $25 million away from reaching the $2 billion mark for the third consecutive year. It is quite conceivable that with a solid fourth quarter performance 2009 will usher in a new WinnipegREALTORS® dollar volume record. Last year's total MLS® sales eclipsed $2.4 billion.

 In being the best September in 106 years September 2009 also recorded two million dollar plus MLS® sales. As a result, the ten year-to-date million dollar plus sales are more than any other year as 2008 had the most previously at eight. The two recent ones are a Wellington Crescent apartment condo and a 6,000 sq. ft. Tuxedo home which sold for above list price.

 September MLS® unit sales were up 3% (1,127/1,097) while dollar volume jumped 11% ($227.6 million/$204.9 million) in comparison to the same month last year. Year-to-date MLS® sales are down 7% (9,747/ 10,489) while dollar volume is off less than 3% ($1.97 billion/$2.03 billion) in comparison to the same period in 2008. Conversion of MLS® listings-to-sales this year is 67%, a few percentage points off last year's conversion rate. Home and condo conversions are running at 72 and 73% respectively.

 "The absolutely terrific above average weather in September shone brightly on our local real estate market as sales were the best on record for this month," said Deborah Goodfellow, president of WinnipegREALTORS®. "We are recovering from our slow start this year as the third quarter performed extremely well and there is no reason to believe we cannot finish strong in the fourth quarter."

 A recent Statistics Canada report showing Manitoba's population growth had its best quarterly increase since record-keeping began in 1971 can only bode well for keeping demand brisk in the local housing market. It becomes even more pronounced when you consider the acute shortage of good rental units as an alternative living accommodation. Low unemployment numbers and very favourable mortgage rates are also contributing factors to helping WinnipegREALTORS® have one of its best years on record.

 For residential-detached sales, the most active price ranges were the $150,000 to $199,999 and the $200,000 - $249,999. They represented 24% and 21% respectively of total residential-detached sales. Interestingly enough, similar percentages of total sales in these two price ranges were also found in condominium sales for September 2009. However, 23% the of condo sales were between $100,000 to $149,999, whereas in residential-detached it was only 14%

 The average days on market of sales for residential-detached listings in September was 30 days, the same as last month and 4 days slower than September 2008.

FIRST RECORD MLS® SALES MONTH IN 2009

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September MLS® Sales Up 3%; Dollar Volume Rose 11%

 WINNIPEG - It took nine months to set a new monthly MLS® sales record this year but they say patience is a virtue so it is worth waiting for. Third quarter MLS® sales in 2009 were almost on par with the same period in 2008. This result shows the Winnipeg real estate market has returned to its former glory with healthy market activity. Even more impressive is the continued dollar volume rise as evident from an 11% increase from 2008 to 2009 in the third quarter. Year-to-date dollar volume is now less than 3% off the record dollar volume pace set last year and just $25 million away from reaching the $2 billion mark for the third consecutive year. It is quite conceivable that with a solid fourth quarter performance 2009 will usher in a new WinnipegREALTORS® dollar volume record. Last year's total MLS® sales eclipsed $2.4 billion.

 In being the best September in 106 years September 2009 also recorded two million dollar plus MLS® sales. As a result, the ten year-to-date million dollar plus sales are more than any other year as 2008 had the most previously at eight. The two recent ones are a Wellington Crescent apartment condo and a 6,000 sq. ft. Tuxedo home which sold for above list price.

 September MLS® unit sales were up 3% (1,127/1,097) while dollar volume jumped 11% ($227.6 million/$204.9 million) in comparison to the same month last year. Year-to-date MLS® sales are down 7% (9,747/ 10,489) while dollar volume is off less than 3% ($1.97 billion/$2.03 billion) in comparison to the same period in 2008. Conversion of MLS® listings-to-sales this year is 67%, a few percentage points off last year's conversion rate. Home and condo conversions are running at 72 and 73% respectively.

 "The absolutely terrific above average weather in September shone brightly on our local real estate market as sales were the best on record for this month," said Deborah Goodfellow, president of WinnipegREALTORS®. "We are recovering from our slow start this year as the third quarter performed extremely well and there is no reason to believe we cannot finish strong in the fourth quarter."

 A recent Statistics Canada report showing Manitoba's population growth had its best quarterly increase since record-keeping began in 1971 can only bode well for keeping demand brisk in the local housing market. It becomes even more pronounced when you consider the acute shortage of good rental units as an alternative living accommodation. Low unemployment numbers and very favourable mortgage rates are also contributing factors to helping WinnipegREALTORS® have one of its best years on record.

 For residential-detached sales, the most active price ranges were the $150,000 to $199,999 and the $200,000 - $249,999. They represented 24% and 21% respectively of total residential-detached sales. Interestingly enough, similar percentages of total sales in these two price ranges were also found in condominium sales for September 2009. However, 23% the of condo sales were between $100,000 to $149,999, whereas in residential-detached it was only 14%

 The average days on market of sales for residential-detached listings in September was 30 days, the same as last month and 4 days slower than September.

I recently assisted in the purchase of a Country home for my Buyer. One of the Subject to's in the OTP, was a commonly included clause - Subject to a water test passing Canadian Health and Safety minimum requirements ... etc.

Although the first test of the well water failed, the 2nd test passed the safety requirements. Yet I remained hesitant as to the safety and sensibility of drinking the water prior to the Buyer running his own test. To ease my mind, I purchased a table top Water cooler/Heater system, and a full gallon bottle of water which I delivered during my walk through on Moving Day as the House Warming Gift.

What a great gift this has turned out to be!!  For less tan $60.00 my Buyer had fresh, safe cold water for the movers all day, as well as the next morning, he called to say the "This puts a new meaning into the word Instant Coffee" !

 As the snow melts, leaves unfurl, brown lawns are hidden by new growth, suddenly it's like a bell was rung, doors fly open and FOR SALE signs sprout up all over the lawns. Overnight you find there is barely time to eat, let alone cook, and you realize "Spring Market" has arrived!

 Another Great month for Winnipeg Real Estate!

March MLS® Sales Down 9%; MLS® Dollar Volume Off 3%

WINNIPEG - The Winnipeg real estate market in March was really quite similar to March 2008 when you break down the two main property type sales. Home sales which still make up the lions share of total MLS® activity every month were only down 3 per cent with more sales this year over $200,000. There were three sales above one million dollars. Condominium sales were virtually the same as last March with two less sales. The big drop off in activity was in vacant lots with a 63 per cent decrease in sales. Duplexes sales were down 31 per cent while single attached units had a decline of 25 per cent.

March is clearly the start of more sales activity as we move into spring, albeit the grip of winter has hung on into April. As is apparent from some of the good local economic conditions, especially in comparison to the rest of the country, it appears more inclement weather this year has played its part in the slow start to the first quarter of 2009. It is also important to remember 2009 is being compared to the highest dollar volume year on record and the second strongest sales year in WinnipegREALTORS® 106-year history.

March MLS® unit sales are down 9% (905/993) while dollar volume was off only 4% ($187.4 million/$194.5 million) in comparison to the same month last year. March 2009 dollar volume is the second highest March on record. Year-to-date MLS® sales are down 10% (2,089/2,334) while dollar volume has only decreased 4% ( $410.5 million/$428.8 million) in comparison to the first quarter of 2008. The number of listings entered on the MLS® this year is up 11% (3,859/3,484).

"All in all, I am remaining optimistic about Winnipeg's real estate market going into the second quarter," said Deborah Goodfellow, president of WinnipegREALTORS®. "We have balanced market conditions where buyers have more to choose from, interest rates are at historic lows, and our prices remain firm if not even higher than last year. Our average home sale price for the first quarter is up 5 per cent ($209,254/$199,546) over the same quarter last year however this increase can be significantly affected by a shift in sales to higher price ranges and that has been evident this year. For example, there were 123 more home sales under $200,000 in 2008 while there were 18 less over $200,000 in comparison to 2009."

Condominium sales are actually ahead of last year for the first three months. There have been 10 more condo sales which represent a 4 per cent increase over first quarter 2008. The average condo sale price is up 3% ($175,429/$169,947). There has been an increase too in higher price range sales with the highest one this year happening in March at $650,000.

Goodfellow was also buoyed by the recent release of the Conference Board of Canada's Spring 2009 Metropolitan Outlook Report which provides economic insights into 27 Canadian metropolitan economies. It says Winnipeg will still see real GDP growth in 2009 and that Manitoba will avoid the recession. Agriculture, manufacturing and the construction sectors are all singled out for continued expansion. Only Saskatoon and Regina are forecast to join Winnipeg in maintaining positive economic growth in 2009.

It should not be surprising then to find 86 per cent of Winnipeggers questioned in a Jory Capital/Probe Research survey on the economy indicated they are very or somewhat optimistic about the economic future of Winnipeg.

"This bodes well for resale housing as it is such a good long term investment so if you are bullish about our city's prospects why would you not want to take advantage of the excellent home buying opportunities that are available in our local market right now," said Goodfellow.

Residential-detached sales in March were most active in the $150,000 to $199,999 range with 25% of total sales. Close behind in activity was the next highest price range of $200,000 to $249,999 at 21% of sales. The under $100,000 sales activity dropped into single digits at 8%. The highest sale price in March as $1,180,000 and the lowest was $11,000. The average days on market for sales of residential-detached listings was 30 days, 2 days faster than last month and a week slower than March 2008.

Are you a User or an Investor? There are two main types of commercial customers:  

 1. The Users who are seeking a property that will house their business. Their main concerns are location, visibility and the prestige that will accompany a particular property or location. Buying decisions will  be affected by the buildings' age, or newness of the property, the neighborhood, safety for staff, security, lighting, office size, window placements, and primarily whether the property enhances business opportunities. Their buying decisions are largely focused on the question "'What's in it for my business" and whether this property will offer the opportunity for growth without excessive increases in overhead costs.  

 2. The Investors who are motivated  by three slightly different factors of influence; What is the rate of return they can expect to receive on their capital investment? How secure is the rate of return, is it guaranteed, or reliable? What are the risks or chance of losing the investment? And most importantly what is the potential for capital growth? Investors often have a desired rate of return established prior to beginning their property search. While attractive settings and decors may be desirable, they are not at the top of the list for Investors.  

A User may be 'Buying an Income Dream', whereas an Investor is 'Buying an Income Stream' 

Winnipeg, Manitoba Outlook for 2009

Winnipeg remains one of the hottest markets in the country for residential real estate, reporting record setting sales for the first nine months of the year.

The market, however, pulled back in the fourth quarter due to rising economic concerns. As a result, an estimated 12,900 homes are expected to change hands in Winnipeg by year-end, a modest decrease from peak levels logged in 2007.

Housing inventory was relatively tight through 2008. With a limited supply of listings for most of the year, values smashed all previous records with the average price up 22 per cent over one year ago from $170,502 to $207,882. Many purchasers experienced frustration with bidding wars but there were  fewer than in 2007.

Multiple offers are still occurring and will continue in isolated situations but not nearly as frequently.

Inventory has increased in the last quarter and what was previously a seller's market has become more balanced. As a result, average time on market required to sell a home will increase from 29 days in 2008, to 35 days or more in 2009.

Spurred by move-up buyers looking for bigger homes and better amenities, the most active price range has been in the mid-range from $160,000 to $199,000. First-timers, including new immigrants and children of baby boomers, fuelled activity in the $130,000 to $159,000 range. With even greater demand from retirees, the condominium market is playing a bigger role than ever before. New buildings geared to retirees are underway in The Forks and on Waterfront Drive.

More affordable warehouse conversions are also springing up, thanks to incentives from the city to invigorate the downtown core. Luxury homes were also coveted in 2008, with a record number of $1million+ homes changing hands. Despite consumer uncertainty created by volatility in the stock markets and the global economic crisis, Winnipeg's local economy remains healthy. New home construction is expected to continue at a breakneck pace with 5,200 new units projected. Net migration will be a dominant factor driving demand. International migration will be among the highest levels on record, owing to Manitoba's successful Provincial Nominee Program. With one of the best employment rates in Canada, the loss of migrants from Manitoba to other provinces will also remain

low by historical standards. A robust labour market continues to be both a sign and source of vigour for the Manitoba economy. The province is benefiting from a softening Canadian dollar and high commodity prices for grains and base metals supporting provincial income growth.

Th e market for 2009 will be balanced as slow, steady growth continues. Inventory levels are expected to

increase by 10-to-15 per cent over 2008. Values will remain stable with minimal increases. The average

selling price is forecast to appreciate two per cent to $212,000 by year-end. The number of homes due to change hands is forecast to match 2008 levels.

Remax Western Canada Hosing Outlook 2009

Are you a User or an Investor? There are two main types of commercial customers:  

 1. The Users who are seeking a property that will house their business. Their main concerns are location, visibility and the prestige that will accompany a particular property or location. Buying decisions will  be affected by the buildings' age, or newness of the property, the neighborhood, safety for staff, security, lighting, office size, window placements, and primarily whether the property enhances business opportunities. Their buying decisions are largely focused on the question "'What's in it for my business" and whether this property will offer the opportunity for growth without excessive increases in overhead costs.  

 2. The Investors who are motivated  by three slightly different factors of influence; What is the rate of return they can expect to receive on their capital investment? How secure is the rate of return, is it guaranteed, or reliable? What are the risks or chance of losing the investment? And most importantly what is the potential for capital growth? Investors often have a desired rate of return established prior to beginning their property search. While attractive settings and decors may be desirable, they are not at the top of the list for Investors.  

A User may be 'Buying an Income Dream', whereas an Investor is 'Buying an Income Stream' 

Threat of global recession to hinder home sales in major Canadian housing markets in 2008 and 2009, says RE/MAX

Global economic uncertainty weighed heavily on residential real estate activity in most major Canadian centres during the latter half of 2008.  Although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says RE/MAX. 

Housing market performance will clearly be contingent on economic performance at a local, provincial, and national level in 2009.  Issues affecting the overall economy are impacting housing markets across the country and the situation is not expected to be remedied until consumer confidence is restored.   If inventory levels remain stable, pent-up demand kicks into gear, and lower interest rates stimulate home-buying activity, we could see a bounce back as early as spring.

The RE/MAX Housing Market Outlook for 2009 examined residential real estate trends in 22 markets across the country and found that average price held up remarkably well in 2008, despite 13 centres reporting double-digit declines in home sales. Solid gains earlier in the year likely served to prop-up housing values at year-end.  The prognosis for housing activity in the first six to nine months of 2009 is somewhat static, given continued volatility in financial markets and the threat of recession, but as stability returns, housing markets are expected to recover. 

Nationally, 440,000 homes are expected to change hands in 2008, down 15 per cent from record 2007 levels. Canadian housing values are expected to hover at $300,000, a nominal three per cent decline from last year's historic peak.  By year-end 2009, unit sales should match 2008 levels, while average price is forecast to fall another two per cent to $293,000.

Major markets are evenly split in terms of housing performance in 2009, with 11 centres forecast to match or exceed 2008 home sales and 11 expected to slide from 2008 levels.  The highest percentage increase in unit sales is anticipated in Saskatoon, where the number of homes sold is forecast to climb three per cent in 2009.  Housing values are expected to hold the line in 2009, with St. John's, Montreal, Kingston, London, Winnipeg, Saskatoon, and Regina posting modest gains in average price in 2009. 

Canada's real estate environment is considerably more complex than it has been in recent years.  The landscape is definitely changing -- with most markets shifting into either balanced or buyer's territory. The shut out is over.  Sellers no longer rule the roost.  Opportunities exist for purchasers like never before, including lower interest rates, greater inventory levels, the luxury of time to make decisions, and the upper-hand at the negotiating table.  Motivated vendors will need to take note of the new mindset and set their prices accordingly.

Canadian sellers are slowly adjusting to new realities. For most markets, 2008 started in balanced territory and moved into buyer's market conditions during the latter half of 2008.  The year ahead will prove challenging, especially for vendors.

While the economy will dictate real estate performance next year, it's important to remember that demand still exists in the marketplace.  In the midst of stock market turmoil, sold signs continue to appear on lawns across the country.  With affordable lending rates and increased selection, first-time and move-up buyers with good credit may choose to play their investment strategy safe and purchase a home. The comfort of a tangible investment like real estate goes a long way in tough times.

RE/MAX of Western Canada (1998) Inc. Housing Market Outlook 2009 Report, issued

December 3, 2008.