Selling South Winnipeg - Kyle Bazylo - Realtor

10/23/2024

A big update for homeowners and buyers! 📉 As inflation dropping was an indicator last week, the Bank of Canada just dropped interest rates. This is a huge turn from the quick interest rate rise we saw last year. Here’s what it means for you:

👉Lower mortgage payments for current homeowners—more money stays in your pocket!
👉Increased affordability for homebuyers—your dream home could now be within reach!
👉Great opportunity to refinance and lock in better rates, potentially saving you thousands.
👉Boost in market activity as more buyers are able to enter the market.

If you're curious about how this impacts your plans, feel free to reach out, DM or 204-294-8942. This market has changed dramatically over the past six month. 🏡💼

10/15/2024

Inflation in Canada just dropped to 1.6% 🏠

What does that mean for you? 🤔 Lower inflation is a strong indicator that we will once again see interest rates come down next week. Recent drops have been .25% but there's now a strong chance it is a .5% drop.

If you're looking to buy a home or refinance your mortgage, this is great news. 🏡💰 With inflation easing, we might see the Bank of Canada reduce rates, making borrowing cheaper for everyone.

Any real estate questions? Send me a message or text.

09/26/2024

Going to be a great weekend heading into October, good time to knock off some fall maintenance. Do you cover your air conditioner or leave it as is?

08/29/2024

🏡 Buying a Home? Don’t Forget About Closing Costs! 📑

One of the main things people often over look when buying a home (usually first-time buyers) are the closing costs.

When purchasing a home, it's crucial to budget for closing costs, I usually tell buyers about 2% of the purchase price. ie If the house is $400,000, budget around $8,000 in costs.

Key Closing Costs to Consider: 💸

Land Transfer Tax: A one-time fee based on the property’s purchase price. Make sure to budget for this significant expense.

Home Inspection: While optional, it’s highly recommended to uncover any potential issues with the property before you buy.

Legal Costs: Covers the fees for your lawyer or notary to handle the legal paperwork and ensure everything is in order.

Have questions or need assistance? I’m here to help make your home-buying experience as smooth as possible! 🤝

DM me or call/text 204-294-8942

08/21/2024

07/25/2024

👉Just listed in the Old Campground in Clear Lake. Short walk to the beach, pickleball/tennis courts, and all of Clear Lake's shops and restaurants.

👀See more here:
https://www.realtor.ca/real-estate/27217331/75-fourth-street-s-clear-lake-r36

07/06/2024

My updated list of Summer Camps for kids.

https://www.sellingsouthwinnipeg.ca/blog/summer-camps-winnipeg-kids-2024/

06/21/2024

📍 Congrats to my buyers on this beautiful lakefront cabin🌅. In person, this log cabin with the wood detail is amazing... and we got it at a great price.

👉Buying or Selling, give me a call. 204-294-8942. Winnipeg and Cabin Country. https://www.sellingsouthwinnipeg.ca

06/12/2024

🚨 New Capital Gains Inclusion Rate in Canada 🚨

As of June 25, 2024, Canada has updated its capital gains inclusion rate. Here's what you need to know:

🏡 Primary Residences: No change! You still don't pay capital gains on your primary home.

🏠 Second Properties & Stocks: The changes impact those with cabins, more than one home, or large stock sales.

💰 New Rate: The inclusion rate is now 66% on capital gains over $250,000, up from 50%.

For example:

Old Rate: Selling a cabin for a $400,000 gain would add $200,000 to your income.

New Rate: Now, you'd add $224,000 to your income.

Most people won't be affected, only those with significant gains over $250,000. This mainly impacts those with large stock gains or properties bought decades ago with substantial appreciation.

For a more detailed explanation:
https://www.sellingsouthwinnipeg.ca/blog/manitoba-new-capital-gains/

06/05/2024

For the first time in a year, the Bank of Canada has cut rates. It's a nice drop for those who have been waiting for a rate drop. Those who are waiting to see 2-3% again could be waiting several years. I think 4-5% is will be the new normal for some time with our current economic and political situation.

What does a rate drop mean?

✨ Lower Mortgage Rates: Enjoy reduced monthly payments with lower interest rates on your mortgage.

🏠 Increased Buying Power: Afford more home for your money or upgrade to a better property.

📈 Easier Qualification: Qualify for a mortgage more easily with lower interest rates.

💡 Refinance Opportunities: Refinance your existing mortgage to take advantage of the new lower rates and save money!

💰 More Savings: Lower rates mean less interest over the life of your loan, leading to significant savings!

🛠️ Home Improvements: With the savings, you can invest more in home improvements or renovations.

📊 Stable Market: Boost in buyer confidence can lead to a more stable and active housing market.

This housing market has been heating up the last couple months, and with rates dropping you can expect even more home-buyers hitting the market. We could see housing prices rise again.

05/07/2024

🏠 SOLD 🔑
As the buyer agent it was a great feeling to walk this couple through their first home buying experience. Grateful 🙌

One of the great things about Winnipeg is that buying a house is still a realistic goal.

We found a fantastic house in a great area.

Buying or selling? Give me a text/call: 204-294-8942

04/15/2024

Here are the details 👇👇

▶️Ottawa extends amortization period on insured mortgages for first-time homebuyers of newly built homes, effective Aug 1.

▶️Current 25-year limit for mortgages with