Christine Lelond Your Home Expert

(306) 230-5220

 

A pantry is the ideal nook for storing extra food and other items ordinarily crammed into the kitchen. It’s also a nice design feature, as it harkens back to the days of country kitchens with spacious pantries.

 

You might be thinking, “That’s nice, but our home doesn’t have a pantry.”

 

That’s okay. These days, there are many ways to create a pantry in your home – even if it doesn’t have one! Here are just a few suggestions:

 

• Add shelves to the laundry room. If you have the space, this is the ideal place to create a mini-pantry.

 

• Purchase a portable pantry. There are many available on the market. Some are even disguised as cabinets you’d expect to see in living and dining rooms.

 

• Purchase a movable pantry. These units are on wheels and can slide in and out of the kitchen with ease. Some are short enough to slide conveniently under a kitchen table.

 

• Make use of an unused closet. These are rare in most homes, but if you have a closet that isn’t being used, it can easily be converted into a pantry.

 

As you can see, there are plenty of options available. You don’t necessarily need to build an extra room!

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When considering which of two or more competing offers to accept for your home, there is no doubt price plays a huge role. After all, if Offer #1 is $10,000 higher than Offer #2, that’s an enticing difference that puts thousands of extra dollars in your pocket.

 

However, price isn’t the only thing you should think about when comparing multiple offers. There are other factors you need to consider as well.

 

For example, what conditions are in the offer? If Offer #1 is conditional upon the seller selling his current property for a specific amount, then what if that doesn’t happen? You could end up with an offer that dies and be forced to list your home all over again.

 

In that circumstance, the lower offer may be your best move. There’s also financing to consider. Most buyers will state their mortgage lender qualifications to show that they can afford the home and will likely secure financing with little difficulty. If you get an offer where the ability of the seller to get financing is in doubt, that’s a red flag. The closing date is another important factor. Offer #1 might propose a closing date that’s perfect for you, while Offer #2 is four weeks later. If you’ve already purchased another home, you might require a month of bridge financing if you accept Offer #2. There’s nothing wrong with that per se, but the costs and additional hassle are factors you should consider.

 

As you can see, assessing competing offers isn’t as easy as it looks. Fortunately, as your SRS® REALTOR®, I will guide you toward making the right decision.

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Dollar volume and unit sales for the Saskatoon real estate market saw a 13% year over year increase in August. At the end of July, the year to date dollar volume was 10% lower than 2015, the recent activity in August has helped to improve that to only a 4% decrease. 
 
Dollar volume for Saskatoon and surrounding area was up significantly month over month in August with a 38% increase, a record for August. The total dollar volume was just over $210M this past month eclipsing the next best August performance which was in 2013 at $180M.
 
Unit sales year to date in Saskatoon are 2,614, a 7% reduction from 2,811 units sold by the end of August 2015. Jason Yochim, CEO with the Saskatoon Region Association of REALTORS® is encouraged by this recent improvement in activity.
 
"To put it in perspective this is a difference of less than 200 units for the year or 24 home sales a month." The 373 sales in August is slightly higher than the five-year average and is comparable to activity in 2012 and 2013. "A levelling of new listings introduced to the market combined with an increase in sales is slowly helping to reduce historically high inventory levels." He adds.  
 
Currently there are 1,956 active listings in Saskatoon, the five-year average is 1,634 units. The total number of units listed for sale in Saskatoon year to date was 6,694, a 4% reduction or 291 units for the first eight months of the year. New construction has also seen a decline in housing starts, especially in the multi-family market. This will also help to reduce inventory levels as many of these new homes are listed with a professional REALTOR® prior to or on completion.
 
The average number of days to sell a home in Saskatoon is currently 47 days with a sale price of 97.2% of the list price. 
 
"I think sellers are beginning to recognize that pricing to market will sell their home in a reasonable time and close to their asking" comments Yochim "I think that is playing a role in more units selling in August." 
 
The average sale price is continuing to hold fairly steady at $352,000 while the median price is currently $335,000. The Composite Home Price Index (HPI) published by the Canadian Real Estate Association, measures the rate of change in home values for a period of time. It is considered to be the most accurate barometer of market conditions. The HPI works similar to the Consumer Price Index in that it starts with a typical home value and a base year and measures changes in the value over time. For August the index was at 231.9 down slightly from a year earlier. This indicates that pricing is remaining stable for the most part. -Source: September 2016 SRAR Media Release
 
As a Nationally Accredited ABR® & SRS® REALTOR®, I can provide you with sound market advice. Call today.
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