RSS

When You Can Only See a Property Once

If you’re searching for a new home within a tight time frame or searching for an out-of-town property, you may not have time to make multiple visits. In fact, you might only get a chance to view a property once before deciding whether or not to make an offer. In that case, you’ll need to be sure to get all the information you need from that one viewing. The trick is to be prepared.

Before viewing a property, make a list of all the things you want to know about the home. If it’s an older home for example, you may want to know about possible maintenance issues. So, you’ll have questions about when you should expect that the roof, furnace or air conditioner will need to be replaced. If you’re concerned about bedroom space, you’ll want to bring a measuring tape and confirm the dimensions of those rooms.

Then, when you schedule the viewing, make it clear to the seller that you may need more time than the average buyer. Depending on the property, you may need an extra 30 minutes to an hour.

During the viewing, spend time exploring each of the rooms, especially those that are most important to you. Bring a notebook or use your smartphone to make notes. And, don’t forget to ask all of your questions.

Read

Pricing Psychology and Selling your Home

Have you ever seen a product at a store and thought, “Whoa. That price is outrageously high. It’s just not worth it!” Conversely, you might have also reacted to another product with, “That’s awfully cheap. The quality must not be good.”

Welcome to the psychology of pricing!

According to research, people tend to draw conclusions about a product based on its price. If it doesn’t reflect the perceived value of the item, people become hesitant to buy. This occurs whether the item is priced too high or too low.

What does this have to do with selling your property?

When you set the list price, you want it to help attract the right type of buyers... buyers who are looking for your kind of property, in your neighbourhood, and within that price range.

If you set your price too high, you risk having buyers see your listing as too expensive relative to comparable properties.

If you set the price too low, you might attract more buyers. In fact, in some circumstances, that can be a strategy for generating quick interest in your listing. But, you might also cut out otherwise qualified buyers who are searching within a higher price range.

So, when selling your home, consider the importance of pricing psychology.
 



Read

Open House. Open House on Sunday, February 11, 2024 2:00PM - 4:00PM
STUNNING! Former luxury show home built by renowned BlackRock Developments. Primely located & backing green space in prestigious Evergreen. Ease of access to parks/walking paths/schoo

Please visit our Open House at 227 Pohorecky ST in Saskatoon. See details here

Open House on Sunday, February 11, 2024 2:00PM - 4:00PM STUNNING! Former luxury show home built by renowned BlackRock Developments. Primely located & backing green space in prestigious Evergreen. Ease of access to parks/walking paths/schools/amenities. This 1838sqft 2storey, 3BD, 3Bath home provides elevated elegance & meticulous quality. Open-concept main floor, Maple kitchen, formal dining room, living room with fireplace and an abundance of natural lighting & tranquil panoramic views. 24x26 finished heated garage. 17x22 vaulted bonus room with tinted South windows reducing UV rays/heat to maximize comfort. Basement provides 2nd laundry area with remaining area prepped w/insulated walls/floor/ceiling for future design. completed Superior landscaping. 16x18 custom composite gazebo deck w/shaded privacy rail structurally weight designed to support home expansion and gated RV parking.

STUNNING! Former luxury show home built by renowned BlackRock Developments. Primely located & backing green space in prestigious Evergreen. Ease of access to parks/walking paths/schools/amenities. This 1838sqft 2storey, 3BD, 3Bath home provides elevated elegance & meticulous quality. The open-concept main floor offers a spacious foyer, gleaming hardwood, arch design, frame wainscotting and abundant natural lighting provided by the north windowed wall offering tranquil panoramic views. The living area centers around the tile gas fireplace & niche; Adjacent to the formal dining area w/garden door and stylish maple galley kitchen enhanced by a mosaic backsplash, pot drawers, under cabinet lighting, granite countertops, electric bar island w/triple suspension lighting, SS Samsung appliances and pantry. An ideally located mudroom w/direct access to the 24x26 finished heated garage, provides additional access to a 2piece bath w/quartz vanity & main floor laundry option for ultimate convenience. The 2nd floor showcases a 17x22 vaulted bonus room adorned w/European imported champagne crystal lighting & tinted South windows reducing UV rays/heat to maximize comfort; 3 bedrooms w/wall spanning windows & large closets - the primary providing a walk-in plus a lavish 5 piece tiled en-suite w/clerestory window, maple/granite dual vanity, independent shower & infinity bathtub which design mirrors the common bathroom w/raindrop shower. Basement provides 2nd laundry area w/raised washer & dryer/rinse sink/drying rack & maple cabinetry. The remaining area is prepped w/insulated walls/floor/ceiling for future design. Superior landscaping offers a 16x18 custom composite gazebo deck w/shaded privacy rail structurally weight designed to support home expansion, interlock brick triple driveway/patio/firepit & walkways w/built-in water channels, vinyl fence, timer UGS, 3’ deep concrete garden beds, matching sheds, accent greenery/fruit trees, Remnant Steel privacy screen & gated RV parking.

Read

STRONG DETACHED SALES LEAD THE SEVENTH CONSECUTIVE MONTH OF ABOVE-AVERAGE SALES IN SASKATCHEWAN

Saskatchewan reported 776 sales in January, a year-over-year gain of 24 per cent and nearly 18 per cent above long-term, 10-year averages. The seventh consecutive month of above-average sales in the province was primarily driven by strong detached home sales in January.

Strong monthly sales were met with declining new listings, resulting in 4,562 available units in inventory in January, the lowest level reported in January since 2010.

Inventory levels declined by 18 per cent year-over-year and remain over 36 per cent below long-term, 10-year trends. As seen in prior months, much of the inventory decline was driven by homes priced below $400,000, a segment of the market that remains extremely competitive. Alternatively, properties priced above $600,000 experienced inventory relief in January, though more was needed to offset the declines in lower price ranges.

“Higher lending rates have driven many purchasers to seek out more affordable products, resulting in further inventory declines in the more affordable segment of our market,” noted Association CEO Chris Guérette. “January failed to bring new listing relief to this area of our market, and prospective buyers can continue to expect tight market conditions when searching for more affordable properties.”

Prices rose across all property types on a year-over-year basis in January, with the most significant gains occurring in row/townhouse-style properties. Saskatchewan reported a provincial benchmark price of $319,600 in January, up from $319,300 in December and nearly 1 per cent higher than January 2023.

“While real estate is local and market conditions vary based on property type, price range, and location – our biggest concern is the lack of inventory across many markets in our province,” said Guèrette. “Despite persistent inventory challenges, the predicted easing of lending rates and favourable economic conditions should continue to support stable demand for home ownership in Saskatchewan.”

###

Regional Highlights

All regions of the province reported increased year-over-year sales activity in January, with the largest gains occurring in the Regina Moose-Mountain and Saskatoon-Biggar regions.

Meanwhile, inventory levels remained below levels reported last year, resulting in many regions reporting declining months of supply. The Saskatoon-Biggar region continues to report the tightest conditions in the province, with under four months of supply.

Price Trends

January price movements ranged from a year-over-year increase of 10 per cent in Melfort, to a year-over-year decline of nearly 3 per cent in Swift Current.

The communities of Estevan, Humboldt, Meadow Lake, Melfort, Melville, Moose Jaw, North Battleford, Prince Albert, Saskatoon, and Weyburn all experienced year-over-year price gains – while Regina, Swift Current, and Yorkton experienced a slight decrease in prices.

City of Regina

The City of Regina reported 179 sales in January, a year-over-year gain of over 35 percent and 25 percent above long-term trends.

New listing growth in January was not enough to offset strong monthly sales, as inventory levels dipped by nearly 19 per cent year-over-year and remain over 33 per cent below the 10-year average.

The City of Regina reported a benchmark price of $301,900 in January, up from $299,800 in December and nearly 2 per cent below January 2023.

City of Saskatoon

The City of Saskatoon reported 245 sales in January, a year-over-year gain of 22 per cent and nearly 16 per cent above long-term, 10-year averages.

Strong sales relative to new listings prevented a significant change in inventory levels, which decreased by 26 per cent year-over-year and sit nearly 50 per below long-term, 10-year averages.

The City of Saskatoon reported a benchmark price of $372,800 in January, down from $374,100 in December and over 2 per cent above January 2023.

Read
Categories:   Avalon, Saskatoon Area 02 Real Estate | Brevoort Park, Saskatoon Real Estate | Caswell Hill, Saskatoon Area 04 Real Estate | Caswell Hill, Saskatoon Real Estate | Confederation Park, Saskatoon Area 05 Real Estate | Confederation Park, Saskatoon Real Estate | Corman Park, Saskatoon NW Real Estate | Cudworth, Saskatoon NE Real Estate | Delisle, Saskatoon SW Real Estate | Dundonald, Saskatoon Area 05 Real Estate | East College Park, Saskatoon Area 01 Real Estate | Eastview, Saskatoon Area 02 Real Estate | Evergreen, Saskatoon Real Estate | Exhibition, Saskatoon Area 02 Real Estate | Fairhaven, Saskatoon Real Estate | Forest Grove, Saskatoon Area 01 Real Estate | Lakeview SA, Saskatoon Real Estate | Lakeview, Saskatoon Area 01 Real Estate | Lawson Heights, Saskatoon Real Estate | Martensville Real Estate | Massey Place, Saskatoon Area 05 Real Estate | Mayfair, Saskatoon Area 04 Real Estate | Meadow Green, Saskatoon Area 04 Real Estate | Montgomery Place, Saskatoon Area 05 Real Estate | Mount Royal SA, Saskatoon Real Estate | Mount Royal, Saskatoon Area 04 Real Estate | North Park, Saskatoon Area 03 Real Estate | North Park, Saskatoon Real Estate | Nutana S.C., Saskatoon Area 02 Real Estate | Nutana, Saskatoon Area 02 Real Estate | Nutana, Saskatoon Real Estate | Osler Real Estate | Pacific Heights, Saskatoon Area 05 Real Estate | Parkridge, Saskatoon Area 05 Real Estate | Pleasant Hill, Saskatoon Area 04 Real Estate | Prud'homme Real Estate | Prud'Homme, Saskatoon NE Real Estate | Riversdale, Saskatoon Real Estate | Sarilia Country Estates Real Estate | Saskatoon Real Estate | Silverspring, Saskatoon Area 01 Real Estate | Silverwood Heights, Saskatoon Area 03 Real Estate | Stonebridge, Saskatoon Area 02 Real Estate | Stonebridge, Saskatoon Real Estate | Warman Real Estate | Warman, Saskatoon NW Real Estate | West College Park, Saskatoon Area 01 Real Estate | West College Park, Saskatoon Real Estate | Westview Heights, Saskatoon Area 05 Real Estate
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.