Christine Lelond Your Home Expert

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You’ve seen fire extinguishers in commercial environments, such as schools, stores and workplaces.  Does it make sense to have one in your home?

 

According to the experts, yes.  In fact, a fire extinguisher can quickly put out a blaze that would otherwise quickly grow out of control.

 

There are several types of fire extinguishers that are made especially for residential use.  That means they put out the most common fires that occur in the home (Class A, B & K fires), and they are easy to handle and use.

 

Since most residential fires happen in the kitchen, that’s the best place to keep your extinguisher.  Make sure everyone in your household knows where it is and how to use it.

 

Keep in mind that a home fire extinguisher is meant for small fires that are easy to put out, such as a pan of vegetable oil igniting on the stove.  If you find you can’t control the blaze within a few seconds with the extinguisher, get everyone out of the home and call the fire department.

 

Also, never  attempt to fight a major fire yourself.  Leave that to the professionals.

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Inventory levels remain elevated at just over 2,000 units, largely due to a decline in the level of sales year to date. In the first half of 2016, the number of homes that have sold within Saskatoon totaled 1,873 units representing an 8.2% decline from the same period last year. At the current rate of sales it would take just over five months to liquidate the current active listings, the five year average is 3.76 months.
 
It also appears that a few sellers are willing to wait until supply drops before placing their property on the market as the number of new listings year to date is down 3% compared to 2015 with a total of 5,074 properties listed to the end of June. The average number of days for a home to sell is up slightly from 42 to 46 days. 
 
The current sales to listing ratio of 42% is down slightly reflecting a firm buyers' market. Pricing seems to be only slightly affected in a negative way with the average price of $354,000, down by 1.7% from a year ago. The median price is also down from $350,000 to $335,500. 
 
"It is actually an ideal time for anyone considering a purchase" according to JasonYochim, CEO with the Saskatoon Region association of REALTORS®. "In addition to having a broad selection in most price ranges, interest rates remain low and prices are stable." he adds.
 
So far in 2016, the homes that have sold have sold for 97.3% of the asking price. This underscores the importance of proper pricing for a home to sell in a reasonable time and close to asking. With few exceptions, this market is not conducive to speculative selling. 
 
"If a seller is serious about selling, it is important to get sound advice on the current market conditions for the area, the competition and how that impacts pricing of their property". Cautions Yochim "Buyers have access to market information, are well informed and in most cases have the assistance of a professional REALTOR®."  
 
Market activity for rural residential and communities surrounding Saskatoon, the total number of sales year to date was 514 for the first half of 2016 which is a decrease of 14.8% for the same period last year. The average selling price on average in 2016 is $304,334 down 2.9% from last year. The number of active listings is down 3.2% from last year with 1,161 properties available at the end of June. 
 
For the major cities of Martensville and Warman, the combined total of active listings at the end of June was 343, down from 379 in June of 2015. Meanwhile the number of sales in June was 55, a 10% increase from June of 2015. -Source: July 2016 SRAR Media Release
 
Need sound pricing and timing advice?  Call today.
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Setting the right list price for a home is a mystery for many sellers.  How do you begin to determine what buyers are likely to pay for your property? After all, no two homes are exactly alike.

 

Yet, setting the right price is crucial. You need to avoid the two price “tipping points” that, if crossed, can cause you a lot of problems.

 

The first tipping point is a price that’s low enough for buyers to begin thinking something is wrong. They wonder, “Why is your price so low? What are you not telling us about your property?”

 

But that’s not even the worst problem with this tipping point. If you do get offers at that low price, you’ll have a bigger issue – leaving thousands of dollars on the table.

 

The other tipping point is setting your price so high it discourages buyers from giving your listing a second look. When your price is that high, you’ll get few enquiries and even fewer people coming to see your property.

 

Of course, you can lower your price later, if necessary. But experience shows that reduced prices make potential buyers skeptical. Most sellers who price high in the hopes of getting a windfall actually end up selling for much less than they would have if they had priced their properties correctly in the first place.

 

So what’s the right price to list your property? The answer is somewhere inbetween those two tipping points.

 

Call today for help determining the right price for your property.

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