Christine Lelond Your Home Expert

(306) 230-5220



Imagine you've found the perfect home. You love it. You've made an offer that's been accepted. So far so good! The only catch? You've wisely made the offer conditional on passing a professional home inspection.


What happens if that home inspection reveals a major issue?


First, you should know that, depending on the age of the property, a home inspection will typically turn up at least a few areas of concern. The inspector might find loose insulation in the attic that is thinning out or roofing shingles that will need replacing in two or three years.  


Issues like those are not usually deal-breakers.


However, if the home inspector finds a major issue — such as old wiring that's worn and presents a safety concern — then you're facing a potentially high cost of repair should the deal go through.


In a situation like that, as your real estate agent, I will address the issue with the seller, usually through the seller's agent. Since neither of you will want to lose the deal, the seller often agrees to get the repair done at his own expense or, have some or all of the estimated repair cost deducted from the sale price.


Will the deal be in jeopardy? Usually not. In most cases, if you have a real estate agent like me working in your best interests, it all works out.

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For some people, the thought of listing their home for sale is stressful. They worry about all the things they have to do — and all the things that might go wrong.


Luckily, it doesn't have to be that way. Here are some tips for making your home sale go smoothly:


· Give yourself time to prepare. If you're thinking of selling six months from now, start preparing your property now. Do any necessary staging, and get it looking its best. Avoid doing these tasks at the last minute.


· Set the right price. Pricing your property too high will likely result in few, if any, buyers coming to see it. You might end up having to lower your price later, causing your home to linger even longer on the market. That's stress you don't need!  


· Have a flexible viewing schedule. If you make it too difficult for buyers to see your property, they might lose interest or simply choose to buy another home. Be as flexible as possible when a buyer wants to view your property.


· Plan get-away activities. When a buyer comes for a scheduled viewing, don't be home. Instead, plan some fun activities for your family. Think: playground, shopping, cycling, the zoo, etc.


· Accept the ups and downs. Prospective buyers might say they love your home and plan to make an offer. Then you don't hear from them again! It happens! Accept the inevitable ups and downs of selling your home.


· Get help with repairs. You'll probably have things that need to be fixed around the home, like a dripping faucet that needs repair or a room that needs painting. If possible, hire a professional to do some of that work.


· Finally, work with a great real estate agent. That will make the biggest difference in ensuring your move goes smoothly and stress-free.


Looking for a real estate agent like that? Call me!

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December residential home sales on the Multiple Listing Service (MLS®) in Saskatoon totaled 164 transactions, 20% fewer than December of 2017 which recorded 205 residential sales. The region surrounding Saskatoon had 43 MLS® sales in December of 2018, only one less than the previous December. The total annual number of residential home sales for 2018 in Saskatoon totaled 3,329 units. This is a 5% decline compared to the total number of home transactions for 2017. This represents the fourth straight year of a decline in annual home sales in Saskatoon. By comparison there were 4,417 MLS® sales in 2014, an overall reduction of almost 25%. There was no change in the total annual sales for the surrounding region with 986 residential MLS® transactions.

The total dollar volume recorded for residential MLS® sales in Saskatoon in December was $55.6 Million, down 20% from December 2017. The total dollar volume for the entire year reached $1.108 Billion, 8% lower than 2017. The combined dollar volume for Saskatoon and region for last year was down 4% from 2017 at $1.524 Billion.

Residential MLS® listing totals for the year continued to be lower than previous years. A total of 7,956 residential listings were recorded for Saskatoon on the MLS® System in 2018. This is an 11% reduction from 2017’s total of 8,969, representing over 1,000 fewer new listings. The five-year average for new listings in a calendar year in Saskatoon is 9,081. “Even though overall sales are down, fewer new listings has helped contribute to fewer properties available to buyers in the Saskatoon market.” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR). The total number of active listings at the end of the year was 1,487, consistent with the five-year average of 1,480 available properties. The highest level of active properties was in July of 2017 when there were 2,210 active listings in the city of Saskatoon “Available properties will vary depending on neighborhood, price range and style.” cautions Yochim “some price ranges with still have a good supply to choose from while others will not. 

When it comes to home price trends, the best indicator of what is happening with home prices is the Home Price Index. The Home Price Index establishes attributes for a typical single-family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices may be trending. The value for the typical single-family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. At the end of December, this value is at $307,000, down from $310,900 in November. This value is virtually unchanged from a year ago, however, it has been trending downward since the middle of 2018.

Source: January 2019 SRAR News Release 
 
Looking for sound market advice?  As REALTOR® and Nationally Accredited Buyer Representative - ABR®, Seller Representative Specialist - SRS® and Real Estate Negotiation Expert - RENE, I can provide you with this advice. Call today.
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