Selling your home?

I found this through a link on Facebook.

I guess whoever it was didn't want to use a realtor or comfree...and created their own site for selling.

Ironically...they seem WAY overpriced.

$182k for a 1007 sq. ft. home?

Based on that...I should get well over $200k when I sell mine . (It's only 1100sq. ft.)

http://www.693dudley.ca/693_Dudley/About.html

look at the prices displayed on google maps...

That price seems about right for the area...

If it's where I think it is, it is over-priced by quite a bit. There are some real dumps on that street (just before Earl Grey CC).

Looks like a nice job on the reno

I've been shopping around on MLS and 180 000 for 1000 sq ft doesn't seem too far fetched for Fort Rouge.

$180k for ANYTHING that's only 1000'sq is ridiculous...and WAY overpriced.

Price depends on more than just floor area... besides, more floor just means more vacuuming/sweeping etc...

Where are you getting the 1007 sq ft from, BTW?

Living Area: 1,007 SF
Year built: 1910
Bedrooms: 2 +1
Basement: Finished
Bathrooms: 1 - 4pc, 1 - 3pc, 1 - 2pc
Heating: Forced
Exterior: Vinyl siding
Parking: Parking pad
Flooring: Hardwood, cork, vinyl, some carpet
Air Conditioned

...was on page two.

Bingo - houses are over priced. Period.

But they have been for years now (where have you been?)...and they are never going back to the way they were...so better get used to it!

Yeah...I was discussing this with a friend of mine recently...he wants to sell his duplex.

He thought now was the time because he'd get more money...but didn't know about buying a house, cause the prices are so high.

I told him he should wait a few years when things "level off".

I'd estimate in about 3-5 years would be the best time. House prices won't come down...but the perception of them being "high" won't be there...as prices shouldn't go up much either.

What sold 5 years ago for $65k is now going for about $120k. In 3-5 years...I'd say it will still be $120-130k, but we'll be thinking that's a good deal. In about 10 years...that may spike again though...and that same house may be closer to $200k.

If you look at real estate history...it's typical that every 10-15 years the properties "cycle" like that. Slight drop or stability...and then a spike. Look at houses built in the 60s which sold for $25k...(West Kildonan area) and are now selling for $250k.

But right now, financing is extremely low. So someone wanting to buy the duplex MIGHT pay a little bit more... plus if your friend needs to borrow to buy a new home, now would be a good time to.

I'd say prices are still on the upswing. And likely will be for a few more years. The city is growing, interest rates are still very low and rentals are at an all time low...

Tell your friend to buy a new house now.

No...definitely NOT on the upswing...in most areas.

We've been watching homes in West Kildonan over the past 2 years.

Prices skyrocketed...1 home smaller than ours was selling for $189k...and ultimately sold for $219k.

But, over the past 6 months, we've looked at 4 homes...each listed from $189-249k. Only one of them sold for asking price...the other 3 dropped prices and 1 of those dropped price twice before it sold. (we thought they were overpriced on the walkthrough)

It's still a good time to sell a home...but I still think waiting a couple years to buy may be best.

Yes...financing is low...but even analysts are saying that's going to hold until the economy turns around...and that's not projected to happen for at least another year.

I had told him he should rent out his duplex and buy a new home...but he's not interested in being a landlord...especially in his location (I think it's truly considered the North End).

Are you making your judgement based on your own anecdotal experience?

There was/is a real estate map published every month that showed prices on a neighbourhood by neighbourhood basis showing how the prices are faring Y/Y. If I can find it I'll post it.

But I seem to recall that every month there is a press release showing that Winnipeg real estate is continuing to increase in value.

Two houses just went up for sale on my street. One was sold a year or so ago for $229,000 and is now up for $324,900. The other sold a few years ago for $249,000 and they're asking $324,900 also.

Heavy jumps in price. Two different realtors. Doesn't look like things are slowing down any imo.

I'd watch for what they sell for JTF...probably go for under $300k

No GOM...remember, I was an agent...so reading the market is something I've been trained to do.

There's always an exception...a house where a couple of bidders go nuts.

Winnipeg is actually a pretty stable market (compared to others around N. America) as the economy isn't being hit as hard here. Things have remained relatively level. But housing IS leveling off...and certainly not spiking like the craze of a few years ago.

The couple of exceptions could be in "high-demand" areas. A couple of people I know were desperate to settle in Pritchard Farms...and had something become available they would've jumped at it. At the time though, nothing was selling or it was sold before they could act. There are still pockets of homes like that which, because of their location, get snagged up quick.

Prices are going up in my neighborhood also.

I'll bet they go for more than the asking price.

Yay I got in and bought my 960 sqf bungalow in Elmwood 4 years ago for $92,000.....there are only 3 bungalow's on my street....none of which have gone up for sale in that time period since I moved in. Lots of other smaller, story and a half's and the like, which are usually smaller in over all sqf. They usually start asking in the $120,000-$130,000 range.....so if I could find the right buyer...I could come out with a pretty good profit on my origional investment.

The only issue, is I don't want to live in this area anymore...and every time I take a look at one of our desirable areas, I choke on the property taxes I'd have to pay, plus the amount I would have to "over pay" for a similar, or slightly larger sized home. Basically I'd be doubling my mortgage and trippling my property taxes (almost tripple anyway).....humm....

So the decsion.....stay in "the hood" and pay off the shack, taking advantage of the low (compared to other areas anyway) property taxes and build up as much equity as popssible, or jump ship, sell the dang house and "invest" in a bigger house, in a nicer area...more taxes, more mortgage...

Decsions.....(once children come along....that'll force my hand, won't be any time to procrastinate!)

Great advise to wait a few more years, because prices have risen an average of 8% per year for the last 5 years, so if you wait it out, the 2.25% variable mortgage should be gone and prices will be up another 16% and that will work out! lol
There are no selection of homes on the market right now.
We are looking for a smaller home, in the St. James , possibly just across the River, so we can look over to Wellington Crescent and try and remeber the "good old days", when we lived in this beautiful park like setting. (300' property depth is incredible).
We expect to have our house on the market in about 3 weeks, after all out touch-ups are completed!

The hubby and I have been discussing selling our home....we would like to move outside of the city. We've been looking around Dugald, Anola and Springfield as that is super close to my husbands workplace. I am pretty sure we can get at least 200 k for our home...we would sell privately.

rosencrentz wrote:Great advise to wait a few more years, because prices have risen an average of 8% per year for the last 5 years, so if you wait it out, the 2.25% variable mortgage should be gone and prices will be up another 16% and that will work out! lol
There are no selection of homes on the market right now.
We are looking for a smaller home, in the St. James , possibly just across the River, so we can look over to Wellington Crescent and try and remeber the "good old days", when we lived in this beautiful park like setting. (300' property depth is incredible).
We expect to have our house on the market in about 3 weeks, after all out touch-ups are completed!

I would buy your house in a heartbeat.... if I could afford it.

DeanK- for you NO/CHARGE !! lol

lets just switch HOUSES!

yeah thats it!
hmm odd... your house is only listed on the Winnipeg assesment site as being 40K more in value then my house.