Winnipeg Realtor and Real Estate Blog


How are the increased mortgage rates affecting you?
There is no doubt that the recent 100 basis point increase by the bank of Canada has affected a lot of home buyers looking at getting into the housing market right now. But the sky is not falling because of these interest rate hikes. Money has been on sale for the past couple of years and as all sales do, it had to end at some point. But the interest rates right now are where they had been over the past decade or so +/- a few basis points now and then, but on average, the current 5-year mortgage term is on par now from where it has historically been the past decade, so for those who have been in the market for a while now see this as a normal interest rate. Those new into the market will no doubt affect their buying power as their buying dollar and perception have changed.
I remember when I first started in the business in 1991 we had real estate sign riders that said "5-Year Mortgage 9.75%!!!" as that was a huge deal to break below 10% as it had been over 10% for the past decade or so before that.
Yes, this has put some pressure on some home values and when we look back at what some homes have sold for this past spring and compare them to what they could get right now, they would have to sell at a loss right now, if they had to sell. But if those home buyers in the spring took out a 5-year fixed mortgage at 3.5 at a $400,000 purchase price, their payment over 25 years would have been $1973/month. If that same home would sell right now for $350,000 with a 5-year mortgage at 5%, the homeowner would be paying $1999/month, so those people who "overpaid" in the spring are still paying less per month than someone who paid $50,000 less for their home right now, so it is all relative. The problem comes up when the spring purchaser has to sell in today's market.
I feel that the biggest influence on today's housing market is not the increase in interest rates, but overall inflation. The cost of everything has skyrocketed over the past 2 years putting a ton of pressure on everyone's overall budget at home. So when the government tells us that inflation is 8.1%, we all know that in reality, it is much, much higher than this. I was speaking to my butcher this week and the cost of pork has risen 120% in the past year, and just that morning, his chicken supplier gave notice that chicken breasts were increasing by 30% next week. This is over and above all of the other increases in chicken in the past 18 months. His carbon tax recently increased by 50% and is 100% higher than it was just 2 years ago when there was no carbon tax. This new tax adds an additional $2000/month to his expenses each month. All of these extra costs have to be passed down to the consumer to keep businesses profitable, making everyone's discretionary spending budget less and less each month. This make's it harder and harder for purchasers just getting into the market to save for a downpayment. Already in the past 5 years, we have seen more and more parents having to help their kids with the downpayment for their first homes, and as it gets harder and harder to save, I am sure that we will see more and more of this. 
In the past 32 years of selling real estate in Winnipeg, I have seen it all and during each crisis that has come and gone. And during each crisis, the market has still chugged along as people will always need to buy and sell homes due to differentiating circumstances. So I wouldn't be afraid to buy something in today's real estate market, but it may be volatile for a bit so I would buy and hold until the rampant inflation subsides and we can go back to a more stabilized & predictable economy. As always it is important to have the right real estate team behind you and working for you for all of your real estate transactions to ensure that you are buying & selling right.
Geoff Archambault - Team Lead - Archambault Team
Century 21 Advanced Realty 

I have sold a property at 11 Lethbridge AVE in Winnipeg
I have sold a property at 11 Lethbridge AVE in Winnipeg.
Showings start Thursday July 14, NO BIDDING WAR!! Offers as presented on this ready to move in bungalow in West Transcona. This 3+1 bedroom home with finished basement is in a great area, quiet, but amazingly walkable for groceries, coffee, the library, buses, parks, the Transcona Trail and schools. Over 1000 sq ft of space for a growing family with upgraded main floor bathroom (2021), eat in kitchen and a dining room for family dinners. A large primary bedroom and 2 more bedrooms upstairs before you head to the fully finished basement with spa like second full bathroom. The basement also includes large bedroom/den with walk-in closet/storage. The oversized single garage is insulated and heated with 240v power so it's the perfect workshop all year long to work on that special project. Shingles replaced in 2020, furnace, central air & some windows new in 2016. Straight and solid, move in and make it your home in this special part of the city and get ready to say "Hi Neighbour" to all your new friends.

I have sold a property at 41 Bank AVE in Winnipeg
I have sold a property at 41 Bank AVE in Winnipeg.
Amazing opportunity to own this very nicely updated 4-bedroom family home in the heart of St Vital! The main floor bedroom would also make for a great home office. Walk into Luxury Vinyl Plank Floors (2019) in the open Living/Dining Room with newer LVP flooring 2019. The 4 Piece Main Floor Bathroom has also been nicely updated. The kitchen features newer Stainless Steel Appliances as well as an island with plenty of drawer storage. Upstairs you'll find two good-sized Bedrooms with the Primary including a nook for coffee & a book. The modern fully finished basement is a great space with a recreation room, bedroom, and Modern 3-piece Bathroom (2020). This home's layout provides tons of practicality & functionality. A Fully Fenced backyard & an Oversized Double Garage are a few of the outside features you'll enjoy. Located blocks away from all amenities like Grocery Stores, Schools, Golf Courses and more. Not to mention the walking trails along the Seine River. Very flexible possession, come and look today!

New property listed in Crocus Meadows, 3K
I have listed a new property at 402 50 Philip Lee DR in Winnipeg.
Penthouse living, top floor sunrise views. The Rose is our luxury 661 sq/ft 1 bed 1 bathroom suite with quartz countertops, ceramic tile backsplash, Luxury vinyl plank flooring, and stainless steel appliances in an open concept unit with island kitchen. Also includes the washer & dryer for your in-suite laundry room, triple pane windows and large balcony with extra storage locker on the same floor, plug in parking & blinds included. Low condo fees which allow you the use of the 4000 sq/ft clubhouse which features a spacious and well-equipped fitness center and billiard lounge on the 2nd floor and the large common room on the main floor with a full kitchen & dining room which can be reserved for private functions. Pet friendly for 2 pets under 35 lbs. Come see why Crocus Gardens has been the fastest selling condos in Winnipeg in the last year

I have sold a property at 59 Hampshire BAY in Winnipeg
I have sold a property at 59 Hampshire BAY in Winnipeg.
SS 07/19, Offers 07/25 5pm. OH Sat & Sun 12-2pm. Welcome home to this highly maintained 3BR + 1.5 Bath 2-story home in Windsor Park. Lovingly taken care of by long time owner with all essential updates completed throughout the years. Great size Living room has a picture window overlooking the large front yard. Spacious Eat-in Kitchen features plenty of oak cabinetry, quartz countertops & beautiful backsplash. Separate Dining room is perfect for gatherings or a great office space with patio doors! Convenient 2pc Powder room rounds off the main floor. Up the stairs with a lovely oak banister are 3 large size Bedrooms, Primary Bedroom having a double closet, original hardwoods throughout & modern 3pc bath with glass shower doors ('17). Finished Basement offers a very nice Rec room & separate Laundry room. Generous size backyard is fully fenced & private with deck. Updates; HE furnace, A/C, Shingles/Soffit/Fascia & Polar tri-pane windows. Kids will love the walking distance to Berkshire Park with playground!

New property listed in Margaret Park, 4D
I have listed a new property at 269 Margaret AVE in Winnipeg.
Offers Jul 28. Open House Jul 23 & 24, 12-2pm. Spectacular custom built 2-story home offering 3 BR's + 2 full Baths. Energy efficient home with ICF foundation, HRV, 2x6 walls & all triple pane windows. Gorgeous hardwoods throughout. An abundance of natural light shines through the tall ceiling & all the large front windows. Lovely KIT features cherry-stained cabinetry, black granite countertops & a peninsula for added eating space. Open to DR and LR, makes perfect for entertaining. Main floor Primary BR has 2 double closets & a 4pc bath. 2nd floor has 2 BRs, another 4pc bath & loft that overlooks the main floor. Each entryway has a very spacious entrance with mudroom having a laundry area. Partially fin basement has great potential for 2 more BR's with egress windows! Stepping outside is a fully fenced front yard and a Mechanics Dream 33x24 Double Garage, 9' ceiling, fully insulated with 220V. Additional parking pad is enough space to be converted to yard space. Great walk to Kildonan Park! One of a kind!

I have sold a property at 720 Hoskin AVE in Winnipeg
I have sold a property at 720 Hoskin AVE in Winnipeg.
Offers Sunday Jul 17, 8pm. Welcome home to this very charming 3 bedroom + 2 Bath home with great curb appeal! Front yard is landscaped with a brick retaining wall garden and interlocking brick driveway & sidewalk. Spacious living room has gleaming hardwood floors and a large picture window. Stepping onto the luxury vinyl tile in the eat-in kitchen are plenty of lovely maple cabinetry with crown moulding, a stone backsplash and updated light fixtures. Stainless steel appliances are included! The 3 bedrooms are of great sizes with more of the beautiful hardwoods and Primary bedroom having a closet with barn door & organizers. Modern main floor 4pc bathroom was updated 2019. Finished basement is perfect for entertaining with a rec room, custom wet bar & 3pc bath. Well-kept backyard has a large stone patio to enjoy the outdoors with tons of room for a patio set & gazebo! Oversized single garage has enough room for storage. Updates include: Hot water tank '21, Shingles '14, HE furnace '09, Kitchen floor '20.

I have sold a property at 104 111 Bond ST in Winnipeg
I have sold a property at 104 111 Bond ST in Winnipeg.
Welcome to Skye View Terrace which lives up to its name with a lovely roof top patio with garden planters, barBQ's and propane firepit overlooking downtown Transcona. This spacious 1028 sq ft suite has 2 bedrooms and 2 bathrooms and features storage galore with island kitchen and stainless steel appliances included and with a brand new stove. A large dining room that seats 6+, and living room that opens to your south facing balcony. The large primary bedroom features walk-in closet and ensuite bathroom with walk-in shower. In unit laundry includes washer and dryer. The concrete building also features an elevator and common area for group gatherings, a fitness area and library lounge area with floor to ceiling windows overlooking downtown Transcona and guest suite for extra company that may be coming to visit. Parking and extra storage locker included. Pet friendly with size limit.

I have sold a property at 111 70 Philip Lee DR in Winnipeg
I have sold a property at 111 70 Philip Lee DR in Winnipeg.
Show Suite is open at 50 Philip Lee Drive every Tues & Thurs 5-7 and Saturday & Sunday 230-5 pm or by appointment anytime. The Robin is in building 70 and is our luxury 905 sq/ft 2 bedroom 1.5 bathroom suite with pendant LED-lit quartz countertops, ceramic tile backsplash, luxury vinyl plank flooring & stainless steel appliances in an open concept unit with an island kitchen. The large covered balcony faces east for your morning coffee in the sun. Also includes the washer & dryer for your in-suite laundry room, elevator to underground parking & extra storage locker. Low condo fees allow you the use of the 4000 sq/ft clubhouse which features an amazing fitness center and billiards lounge on the 2nd floor and the large common room on the main floor with a full kitchen & dining room which can be reserved for private functions. Pet friendly for 2 pets under 35 lbs. Close to shopping and the Transcona Trail system. Come see why Crocus Gardens has been the fastest-selling condos in Winnipeg in the last year.

I have sold a property at 601 Springfield RD in Winnipeg
I have sold a property at 601 Springfield RD in Winnipeg.
Offers Anytime! Lovely bungalow offering 3 bedrooms & 2 full bathrooms. North facing front window brings in plenty of light into the spacious living room featuring newer luxury vinyl plank flooring through main areas. The modern eat-in kitchen has plenty of room for a 6-person table set and newer Ikea cabinetry! All appliances included. Primary bedroom has 2 closets with access to the 4pc bath. The other 2 bedrooms are of good size and have double closets. Finished basement was updated and has a rec room, 2 great size dens, 3pc bathroom and a large laundry/mechanical room that has room for storage. Home has been freshly painted throughout with neutral colors. Stepping out into the back is a large covered patio area, big backyard, vegetable gardens, shed and a Double detached garage with a 60amp sub panel & garage door opener w/remote(s). Sandbox and Swing set stays! Many updates; 50yr house shingles 2013, Soffit/Fascia 2013, All windows 2013, LVP flooring 2021. Close to many conveniences along Henderson!

I have sold a property at 1068 Kildare AVE E in Winnipeg
I have sold a property at 1068 Kildare AVE E in Winnipeg.
SS 07/05. Offers anytime! This beautiful 2-story 3BR, 2.5 bath home in Canterbury Park is ready for the next family to enjoy. Lovely curb appeal as you walk up to the oversized covered front entry steps. Sidelite window by front door allows for natural light to come through as you step into the gorgeous open LR/eat-in KIT with a sizeable quartz counter peninsula. Updated kitchen '17 completed by Springfield Woodworks has an abundance of lovely mocha colored cabinetry. Glass railing & large stairway window leads you to the second floor with 3BR's, 4pc bath + 3pc ensuite. Fin basement has a large rec room, den & storage space. Fully fenced backyard has a large 16x16 deck with railings '19, vegetable gardens that can be converted to sod & Star built 12x8 shed. Insulated Double garage is equipped with 240V, new insulated door & opener '21. Many updates; HE furnace/AC/HWT/Sump pump '19, KWP front siding/soffit/fascia/garage roof '18, Radon mitigation system'18, flooring'16. You'll want to act fast on this one!

I have sold a property at 45 Northumbria BAY in Winnipeg
I have sold a property at 45 Northumbria BAY in Winnipeg.
OH July 2nd & 3rd 12-2pm | OTP July 6 3PM | Looking for a home to make your own? Start with a solid Windsor Park Bungalow! Only the 2nd owner; this home has been loved for over 34 years. With a classic and functional layout it's all ready for you to put your stamp on it and enjoy for just as long. An L Shaped Living Room and Dining Room greet you as you walk in. The Eat-in Kitchen features wood cabinets and a large window overlooking the backyard. Original Hardwoods underneath the main floor carpets will give you plenty of options and the Polar Triple Pane Windows are a nice bonus! Head downstairs and you'll find a finished basement with a large Laundry and Utility Room, Recreation Room, Wet Bar, Flex Room/Den and a 2PC Bathroom with roughed in plumbing for a shower. Recent UPDATES include: Fridge/Stove 2018, Washer/Dryer 2015, Furnace 2020, Shingles 2019, Windows 1999, Exterior Paint 2017. Most core updates are already done! Don't miss your chance to get in to this fantastic area! Book your showing now!
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