Cottage freeze

Hey there, time traveller!
This article was published 27/04/2020 (1972 days ago), so information in it may no longer be current.

Eight years ago, Jessica Sampson and her husband built what some would describe as a dream of a second home: a three-bedroom, two-bathroom, all-season A-frame cottage in Little Bullhead, a remote community about an hour and 45 minutes from Winnipeg’s north perimeter.

Last year, yearning to move back to Alberta to be near family, the Sampsons decided to put the property, and the 100 feet by 300 feet lot it sits on, on the market for nearly $290,000. There were nibbles, but no bites, so in March, the couple relisted it for $248,000, hoping the spring weather might inspire a buyer to step up to the plate.

“We weren’t really sure what this was going to look like amid the pandemic and with people’s changing economic standings, but we thought we should put it out there and see what happens,” Sampson said Thursday.

As an industry, the Interlake and cottage realty market is similarly in a state of flux. Normally, as the weather in Manitoba warms up in April and May, so too does the recreational home or resort home market. The selling season generally picks up and stays somewhat steady until October. This year, that might not be the case, industry professionals say.

An increase in economic instability has edged out a certain segment of the potential buying market; many would-be sellers are holding back from listing their properties; and as a whole, the province has been instructed to not go out to cottages or cabins under a recommendation from Manitoba’s chief public health officer.

While it’s too soon to say how major the impact will be on Interlake realty, it’s been obvious to some of the province’s most experienced professionals that the summer market is cooler than the weather would normally predict.

“We are certainly seeing a reduction in both inquiries and showings within the last month,” said Tyler Bucklaschuk, the broker for Royal Lepage JMB & Associates in Gimli. Between January and April 2019, seven of what are referred to as “recreational” properties were put on the area’s multiple listings service; the same period this year saw only two, Bucklaschuk said.

Karen Machut, a realtor with Royal Lepage who’s specialized in the Interlake since 2012, said that prior to the onset of government-ordered physical distancing and the declaration of emergency, the cottage season appeared set to be a busy one for her.

“It’s slower now, by all means,” said Machut, whose four current Interlake cottage listings include a cedar-walled two-bedroom cabin in Sandy Hook, priced at $134,900.

“Many people are just waiting,” she said, mentioning buyers and sellers alike. “But I’m confident (my listings) will sell.”

Kim Giesbrecht, the general manager of real estate for Interlake Real Estate, said since pandemic-related restrictions were first implemented, listings have taken a licking: a number of potential listings have been cancelled and appointments for viewings have been, too.

Consequently, the Interlake team has made a significant investment in Matterport virtual technology, purchasing two cameras capable of shooting and creating a three-dimensional tours of homes and cottages. The technology will be used starting this week to simplify viewings and, hopefully, inspire hesitant sellers to list.

While cottage sales could be in for a rough season, Giesbrecht said her team has fielded a few calls from potential buyers looking to scale up and buy private beachfront properties. “Part of the rationale is they’re now more motivated to have a private beach and avoid the crowds,” she said.

That’s essentially what the Sampsons hope will entice a buyer to pony up.

Their cottage, aside from being usable year-round, is right off the shore of Lake Winnipeg, tucked away from the public eye.

Enterprisingly, the couple’s Kijiji listing doesn’t ignore the current turmoil of urban life. “In these unpredictable times we are living in, it brings peace of mind in knowing you can have a place to go that can be “off the grid” to get away from the anxiety and chaos of it all,” it reads.

“We’re of the mindset that it’ll sell at the right time,” she said.

ben.waldman@freepress.mb.ca