Condo Market Update - Condo Mortgage Questions - Sample Condo Building - EP: 140

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

Never miss an episode. Install our FREE Podcast App available on iOS and Android.
For your Apple Devices, click here to install our iOS App.
For your Android Devices, click here to install our Android App.

Check my videos on Youtube