(EP: 140) Condo Market Report - Condo Mortgage Questions - Sample Condo Bldg.

Visit our new podcast home page at https://audio.winnipeghomefinder.com

 In this episode we will give you the condo market stats for the past month, what makes condo mortgages different from house mortgages, and a look at one condo building in the south end of Winnipeg.

 

🏞️ Winnipeg Real Estate News 📰

 

Available condo listings are down from last year, while sales are up. Not at the same rate as houses in Winnipeg, but still an increase in activity against a backdrop of lower inventory levels.

 

👫 Phone call with Mortgage Mike ❓

If a buyer is pre-approved for a $250K house, can they just go and buy a $250K condo? Not so fast....condo mortgages have a few unique requirements. We need to consider the condo fees, whether the condo building is an apartment-conversion and whether the condo is self-managed.

Find Mike at https://boknows.homes/IVjg2j

🔦 Spotlight on Local Business 🏪

 

Whether you're buying or selling, a house or a condo in Winnipeg, you will need a real estate lawyer. I recommend Brad McClelland of McRoberts Law Office. Here is a link to his website

 

Go to https://boknows.homes/b99b3d30

 

👪 Spotlight on Tower 180 Condo in St Vital 🖥

180 Beliveau Rd is the location for a condo known as Tower 180 Condos. Originally built as an apartment block in 1970, it was converted into condos by A&S Homes in 2014.

1 and 2-BR suites, priced bet 160-220k. Generally about 20K to $40K below the price when they were new.

 

See more details on this building here https://boknows.homes/6afb3270

 

Here is my post on Condo Fees vs. House Expenses

 

For more real estate info, check my blog at https://blog.winnipeghomefinder.com

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