I Love Winnipeg Real Estate

Although much of what we chat about in this episode isn't necessarily new information, it certainly is very relevant at the moment. Take a listen to find out 5 reason's why mortgage pre-approvals are falling apart.

On this episode we discuss the timely topic of property tax appeals. Trevor Smith with TGS Realty Advisors provides insight on some of the perceived risks, costs and most importantly financial savings that can be achieved from a tax appeal.

In this episode we chat about what to look for when buying a flip, what to avoid, and designing for potential buyers. We also have a little fun talking about the joys of working with family.  Hoarder House Flippers airs Thursday at 7 p.m. CST on HGTV CanadaSeeing potential property value covered by years of clutter, trash, and neglect, these intrepid flippers turn dilapidated properties into desirable homes. Each episode is helmed by one of three sets of renovators, hailing from Ontario, Quebec, and Manitoba – each with their own unique style and personality. The series premiere features Ontario couple Ryan and Kiki trimming back the mess of an overgrown ranch-style house; followed by Quebec brothers Mactar, Issa, and Khadim in the second episode, who discover their cheap flip is going to cost big bucks; then Manitoba’s Heather and Nathan transform their newly purchased eyesore in the third episode.

The board of directors plays a critical role in any condominium community. First and foremost, the board's role is to serve and meet the needs of community residents, acting in a manner that is consistent with the best interests of condo owners. This requires having a strong and comprehensive understanding of the issues facing the community, as well as a commitment to a spirit of open communication and collaboration.

In a recent white paper, the Canadian Institute of Actuaries’ Longevity of Infrastructure – Reserving and Risk Management in Condo Maintenance in Canada has identified one major problem for many condo owners: they’re about to encounter large annual fee increases and lump sum payments, thanks to dwindling reserve funds.

When you were shopping for your first home you didn’t just jump headlong into the first property you laid eyes on and lock yourself into the first mortgage rate you came across online, did you?

Your credit score and how you manage credit are huge factors in qualifying for a mortgage. If you want the best interest rates and mortgage products available on the market, you want a high credit score. Here are a few things you can do to improve your credit score.

There is a lot of economic uncertainty ahead in 2022 and it has a lot of us feeling on edge. On this episode we talk about the realities of a variable rate mortgage.

On this special neighbourhood edition, we are joined by Trudy Turner, Realtor® with RE/MAX Performance Realty. In this episode we chat about Charleswood.

If you’re new to managing your credit, an easy way to remember the minimum credit requirements for mortgage financing is the 2/2/2 rule. Two active trade lines established over a minimum period of two years, with a minimum limit of two thousand dollars, is what lenders are looking for.

On this special neighbourhood edition, we are joined by Geoff Davis, Realtor® with Royal LePage Dynamic Real Estate - Claude Davis Team. In this episode we chat about River Heights.

Although it’s ideal to have your mortgage paid off by the time you retire, that isn’t always possible in today’s economy. The cost of living is considerably higher than it has ever been, and as a result, many Canadians are putting off retirement, hoping to make just a bit more money to add to that nest egg.

On this special neighbourhood edition, we're joined by Eric Neumann, Realtor® with Realty Executives First Choice. In this episode we chat about Wolseley.

Chances are if you’re applying for a mortgage, you feel confident about the state of your current employment or your ability to find a similar position if you need to. However, your actual employment status probably means more to the lender than you might think.

Let’s say you have a home that you’ve outgrown; it’s time to make a move to something better suited to your needs and lifestyle. You have no desire to keep two properties, so selling your existing home and moving into something new (to you) is the best idea

On this special neighbourhood edition, we're joined by Tom Goodfellow, Realtor® and Broker of Goodfellow Realty in Winnipeg. In this episode we chat about Transcona.

If you’re looking to purchase a property, although you might not think it matters too much, the source of your down payment means a great deal to the lender. Let’s discuss the lender requirements, what your down payment tells the lender about your financial situation, a how down payment helps establish the mortgage loan to value.

Porting your mortgage is when you transfer the remainder of your current mortgage term, outstanding principal balance, and interest rate to a new property if you’re selling your existing home and buying a new one.

You might think that you can plan your budget for the upcoming year based on the previous year's expenses. Just copy and paste and you're done, right? Well, not quite. While the previous year can provide a solid, general guide for planning purposes, you will need to consider possible changes in year-over-year expenses.

If you’re going through or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property and buy out your ex-spouse.

In this episode we chat with Dakotah Charron about the National Real Estate Investors Community. NREIC is an exclusive community of like minded investors with a collective goal of growth achieved through sharing resources, off market deals, capital and expertise.

In this episode we discuss how to use The Smith Manoeuvre in Canada to make your mortgage tax deductible and create wealth.

In this episode we discuss how it's a commonly held belief that if you’ve made your mortgage payments on time throughout the entirety of your mortgage term, that the lender is somehow obligated to renew your mortgage.

If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can expect will happen. You can expect to pay a higher interest rate over the remainder of your term, while you could end up paying a significantly higher mortgage penalty should you need to break your mortgage before the end of your term.

When looking to qualify for a mortgage, typically, a lender will want to review four areas of your mortgage application: income, credit, downpayment/equity and the property itself.

If you’ve thought now is the time to find a new property to accommodate your growing family, but you’re unsure how your parental leave will impact your ability to get a mortgage, listen to this episode!

Common area maintenance charges, or CAM charges, are a routine aspect of commercial property maintenance and expenditure management. When executed properly, common area maintenance charges allocate a share of property maintenance expenses to each commercial tenant.

The end of the fiscal year means it's time for condominium corporations to pass a budget for the next year. Involving a committee comprised of unit owners is a smart idea to avoid any pitfalls or disagreements.

Did you know there’s a program that allows you to use your RRSP to help come up with your downpayment to buy a home? It’s called the Home Buyer’s Plan (or HBP for short), and it’s made possible by the government of Canada. While the program is pretty straightforward, there are a few things you need to know.

Your down payment refers to the initial payment you make when buying a property through mortgage financing. In this episode we discuss your options.

When calculating if you can afford to purchase a property, don’t just figure out a rough downpayment and quickly move on from there. Several other costs need to be considered when buying a property; these are called your closing costs.

So you’re thinking about co-signing on a mortgage? Great, let’s talk about what that looks like.

If you’re in the early stages of planning to buy either your first home or your next home, this is the episode for you!

Carla Browne is the Operations Manager for Real Property Management LP. In this episode we discuss national vacancy rates and the effects Covid has had on the Canadian rental market. We also talk about why now is a good time to invest in single family rental properties.

As the name implies, a cashback mortgage is similar to a standard mortgage, except that you receive a lump sum of cash upon closing.

When arranging mortgage financing, your mortgage lender will register your mortgage in one of two ways, either with a standard charge mortgage or a collateral charge mortgage. What's best for you?

Steve Snyder is a Director with YIMBY Winnipeg (Yes in my Backyard). In this episode we discuss how the current City of Winnipeg regulations affect land lot use and infill housing developments.

Brandt Butt is an Investment Advisor with Endeavour Wealth Management. In this episode we discuss the benefits of getting independent investment advice. We also talk about the option of leveraging real estate equity as part of an overall financial strategy.

If you’re looking to do some home renovations but don’t have all the cash up front to pay for materials and contractors, here are a few ways to use mortgage financing to bring everything together.

David Salvatore is the CEO of the Manitoba Real Estate Association. In this episode we talk about the MREA including its decades-long advocacy efforts in eliminating education property taxes. We also discuss the incoming Real Estate Services Act (RESA) and how it modernizes real estate transactions in Manitoba.

With the latest stats claiming that about half of marriages end in divorce and with around three-quarters of Canadians being homeowners, it’s important to know how to handle your mortgage if you decide to separate. Here’s a list of things to consider.

Albert Collu is the President and CEO of Marathon Mortgage, a Canadian monoline lender. In this episode we discuss the benefits of using a lender that solely specializes in mortgages. We also talk about the penalties associated with breaking a mortgage term early.

Gail Auriti is the Broker and Leasing Manager for Harvard Development’s 201 Portage. In this episode we discuss the transformation of Winnipeg’s crown jewel office tower at the corner of Portage and Main, most commonly known as 201 Portage Avenue (former names: TD Centre, Canwest Place, and CanWest Global Place)

If you’re looking to buy a property or have a mortgage up for renewal, and you’re thinking about connecting with your bank directly, save yourself a lot of money and regret by listening to this episode first.

Donnette Odidison is the Broker and Owner of RE/MAX Professionals in Winnipeg. In this episode we discuss the opportunity of becoming a real estate agent. We also discuss some of the considerations when choosing a brokerage to work with.

While home equity is one of your greatest assets, accessing home equity is often overlooked when putting together a comprehensive financial plan. So if you’re looking for a way to access some of your home equity, you’ve come to the right place!

Peter Squire is the Vice President, External Relations & Market Intelligence of the Winnipeg Regional Real Estate Board. In this episode we discuss the latest transaction volumes and values. We also talk about multi-family, vacant land sales and the new mortgage stress test.

Larry Fayle is a Business Development Manager with Manulife Bank of Canada. In this episode we talk about Manulife Bank as a direct alternative to the big five chartered banks. We also discuss the Manulife One product and the new conventional mortgage offering.

If you're looking to buy a new property, refinance, or renew an existing mortgage, chances are, you're considering either a fixed or variable rate mortgage. Figuring out which one is the best is entirely up to you! So here's some information to help you along the way.

Courtney Johnson is a Business Development Specialist with nuera Insurance. In this episode we talk about purchasing property insurance online from a national insurance brokerage vs local. We also discuss the difference between mutual and global insurance companies.

Brock Zimak is an Insurance Broker with PMZ Financial Services. In this episode we talk about the things to consider when purchasing mortgage protection insurance. We also discuss alternative insurance solutions to the default products that are offered by Banks, Credit Unions and Mortgage Brokers.

Lorne Weiss is Co-Chair of the Manitoba Tipi Mitawa program. In this episode we talk about how through a partnership by the Assembly of Manitoba Chiefs and the Manitoba Real Estate Association, The Manitoba Tipi Mitawa (MTM) program helps First Nations families wishing to purchase their first home.

Steve Ennis is a Regional Manager, Strategic Lending Group with CMLS Financial. In this episode we talk about Canada Mortgage and Housing Corporation (CMHC) insured multi-family residential financing. We also discuss how it’s easier than investors may think to grow from one to four units into true multi-family apartment blocks in Winnipeg and surrounding areas.

Bruce Gemmel is a New Home Sales Agent with Qualico’s Broadview and Sterling Homes brands. In this episode we talk about the new home opportunities in Grande Pointe Meadows which is located just outside of the Perimeter Highway in the RM of Ritchot and has been designed to embrace rural living within a neighbourhood design.

Garret Wong is the President and Founder of Upper Edge Property Management. He is also the current President of the Professional Property Managers Association of Manitoba. In this episode we talk about rental property management and the benefits of using a professional vs self managing.

Claw Purves is a Lawyer at Assiniboia Law Group with locations in Winnipeg and Selkirk. In this episode we talk about the potentially difficult effects of separation or divorce on a home. We also discuss who and how someone can keep the home.

Carla Brenan is an interior designer with Carla Brenan Design in Winnipeg. In this episode we talk about the benefits of hiring a professional vs doing it yourself, cost considerations and common misconceptions. Carla also shares some easy and affordable tips that can immediately improve your home.

Mike McLenehan CPA, CGA is the founder of McLenehan and Associates Chartered Professional Accountants with two locations Winnipeg. In this episode we talk about holding investment properties personally vs in a corporation. We also discuss some of the tax implications to consider.

Donna Hodgson is a Regional Manager with the Chicago Title Insurance Company (Canada) In this episode we talk about residential title insurance. We discuss what title insurance typically covers and what sets Chicago Title apart from its competitors.

Dodi Kozak is a Business Development Manager with HomeEquity Bank. In this episode we talk about the CHIP Reverse Mortgage, a financial solution designed for Canadian homeowners 55 years of age or older. We’ll discuss the benefits, potential risks, costs and eligibility associated with obtaining a reverse mortgage.

Timothy Browaty is an Appraiser with Browaty & Associates. His clientele includes several major financial institutions and various real estate companies. In this episode we talk about the current state of residential appraisals in Winnipeg and market vs assessed vs appraised real estate values.

Dave Sarlo is the Owner and a Registered Home Inspector with NorthStar Inspections. He is a graduate of the Carson Dunlop Home Inspector Training Program, a premier home inspection training program. It is built around The Home Reference Book, which has become the gold standard in the home inspection profession. In this episode we talk about the importance and benefits of a home inspection.

Marina R. James is the Chief Executive Officer of the Winnipeg Regional Real Estate Board (WRREB), formerly known as WinnipegREALTORS®. She is a seasoned executive having spent much of her career in senior real estate asset management roles. In this episode we talk about the recent WRREB name change and what to expect in 2021.

Maureen Hancharyk is Manitoba Chapter President of the Canadian Condominium Institute, commonly known as CCI. She is also actively involved in her own community, Stonecrest Condominiums in Winnipeg. In this episode we talk about CCI, membership benefits, and the importance of being involved in your own condominium corporation.

Whelan Sutherland is Chief Executive Officer of Treaty One Development Corporation and a proud member of Peguis First Nation. In this episode we talk about the former Kapyong Barracks 160 acre project, nearby property values, and community benefits of what has been historically referred to as an Urban Reserve.

Sherie Turek is a REALTOR® and the Broker/Owner of Gateway Real Estate. She and her REALTOR® husband Jeff Dueck operate from their home-base in St Laurent on Lake Manitoba. In this episode we talk about rural living in the Interlake, and affordable cottage life just 45-minutes outside Winnipeg.

Stewart Elston is a REALTOR®, and Alternate Broker with Powell Property Group. He is also the 2021 President of the Manitoba Real Estate Association (MREA) In this episode we talk about the differences of condominium vs single family home lifestyle and some of the important things to look out for when buying a condo.

Ian Restall is a lawyer with one of Winnipeg’s oldest law firms, Restall & Restall and a University of Manitoba Business Law Instructor. In this episode we talk about choosing a lawyer, closing costs, and other things to consider when purchasing real estate.

Josh King is a commercial insurance broker and President of Ruban Insurance. In this episode we talk about the change of the insurance landscape specifically affecting condominium corporations and what proactive steps can be taken to lessen the impact of premium increases.

Trudy Turner is a full service Winnipeg REALTOR® and Seniors Real Estate Specialist (SRES®) with RE/MAX Performance Realty. In this episode we talk about seniors transitioning from a house to a home more suitable for the next phase of their lives.

Al Keith is a kitchen and home renovation expert with TENTEN Kitchens & Contracting. In this episode we talk about his own journey of recently purchasing a 100+ year old River Heights home, renovating it and then reaping the benefits of $160,000 equity growth.

Catherine Schellenberg is a seasoned Winnipeg REALTOR®, Team Leader and Past President (2020) of WinnipegREALTORS®. In this episode we talk about the real estate “team” trend, past year market insight and 2021 forecasts.

The goal with the I Love Winnipeg Real Estate podcast is to provide you valuable information on how you can benefit from buying, owning and investing in the Winnipeg stable and growing real estate market.