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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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You can’t call yourself a dentist unless you have specific hard-earned credentials. Just about anyone, however, can hang a shingle and call himself a home improvement contractor. That’s why choosing a reputable one is so difficult. Here are some tips:

 

• Find out if he or she is truly in business full-time. A part-time or occasional contractor may not have the experience necessary to do a great job.

 

• Ask about licenses and other credentials. Some contractors have accreditations from professional and trade associations.

 

• Review his or her project portfolio. A reputable contractor will have photos and other evidence of work completed for similar clients.

 

• Check online for reviews. If there are more than five poor reviews within the past three years — that’s a red flag.

 

• Ask for references. Then, call at least one.

 

Finally, the best contractors are those that get recommended by people you trust.

 


Looking for a contractor recommendation? Call today.

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The number of properties introduced to the market for sale continued its decline in July. Although the number of new listings has been down every month since February, July's decline of 14% year over year was the most significant decrease. Overall the number of new listings for 2016 totaled 5,683 units compared to 6,142 for the same period last year, a decrease of 5%.
 
"This is a positive sign for the market and has an impact in two significant areas" comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®, "Firstly it helps to reduce elevated inventory levels and secondly it helps to move the market closer to a balance."
 
Currently there are 1,986 active listings in Saskatoon, still considerably higher than the five-year average of 1,641 units. The high water mark for active listings occurred in June of 2015 with nearly 2,100 active listings for sale in the Saskatoon market. The sales to listing ratio is determined by dividing the number of sales for the month by the number of new listings. 
 
It is said to be a balanced market when this ratio is 50%. Anything less than that is considered a buyers' market while a ratio in excess of 50% is considered to be a sellers' market. The sales to listing ratio was 47% at the end of July, its highest point since December of 2015.
 
Sales volume for July of this year was 16% lower than the same month in 2015 with 370 home sales compared to 442 last July. A reduction in sales volume year over year has been the trend since January of 2015. June and July of this year showed the most significant decline in sales volume so far in 2016. In spite of a reduction in sales and dollar volume, the average and median selling prices continues to remain largely unaffected with a 1% decline over the previous year. 
 
"All in all the reduction in inventory, although slow is a move in the right direction." Adds Yochim, "It is still a great time for buyers to be in the market with decent selection, stable pricing and low interest rates, however, as inventory levels continue to decline so will selection for buyers." 
 
Homes are still selling for 97% of their asking price. Sellers that need to sell are considerate of the market when pricing their homes strategically. Buyers are also more educated today than at any other time with access to information on sales and the expert advice of a REALTOR®. 
 
The average days on market for a home in Saskatoon is 52 compared to 50 last July. The five-year average for days on market is 41 days. If inventory levels continue to decline, so should the number of days needed to sell. At the current level of sales activity, it would take just over five months to liquidate the current number of active listings, the five-year average is just over 4 months.  -Source: August 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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Figuring out how much time you should spend viewing properties for sale is a little like asking, “How long should I spend trying on shoes?”

 

The answer seems obvious: As long as it takes to make a decision!

 

Buying a home is significantly more complex than purchasing shoes – and the stakes are higher too! You need to make sure you have all the information necessary to confidently make the best decision.

 

There are basically three stages to viewing a property:

 

1. Macro

 

2. Micro

 

3. Professional

 

When you view a home on a macro basis, you’re looking at it from an overall perspective. For example, you may do a general walk-through to get a first impression and determine if the property has the basic features you need, such as the number of bedrooms and the size of the backyard.

 

Macro viewing is often the fastest stage in the viewing process and can sometimes take just a few minutes.

 

If you like what you see, then it’s onto the micro stage. At this stage you take a closer look at the details of the property. You might, for example, spend extra time in the master bedroom imagining how your furniture would look and fit.

 

The micro stage takes longer simply because the home is now on your shortlist. You’re interested and are considering making an offer.

 

Finally, the professional stage involves getting a qualified home inspector to go over the property with a fine tooth comb. That typically occurs after you’ve made an offer.

 

As your REALTOR®, I will guide you through a viewing so you’ll know what to look for and can make a smart, informed decision. Call today.

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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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Next to a major kitchen renovation, replacing appliances is the most expensive way to upgrade the space. So if you’re purchasing a new refrigerator, stove or dishwasher in order to make your home more attractive to buyers, you want to make wise purchasing decisions.

 

The most important consideration is how the appliances will look in the kitchen. Ideally, they should match in colour and style. They should also be the right size for the space. The last thing you want is a fridge that’s so large it dominates the room, or a stove that’s a completely different style and looks out-of-place.

 

Appearance is important, but so are the features. Buyers viewing your home will scrutinize the appliances. They’ll notice if the fridge has a cold water and ice dispenser. They’ll ask if the dishwasher has noise-reduction features. Double ovens and quick-heating burners (which are now available on electric stoves) will also get a buyer’s attention.

 

Power consumption is also a big issue these days. Increasingly, buyers are interested in the energy efficient features of a home — appliances included. So, as your REALTOR® I would point out appliances with energy-saving features, such as a dishwasher with a slow-run cycle that saves power.

 

Kitchen appliances may seem minor compared to the overall appeal of your property, but they do make a difference. Purchase wisely!

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When is the best time to meet with a REALTOR® like me?  Chances are, you would say,  “When I’m thinking of buying or selling a home.”  You’d be right, of course!

 

However, there are many other good reasons to meet with me.  Here are just a few:

 

• You want a professional opinion as to the current value of your property, so you know what it would likely sell for in today’s market.

 

• You notice a home listed for sale in a desirable neighbourhood, and you’re interested in learning more — even if you’re unsure you want to make a move.

 

• You’re thinking of moving within the next couple of years, and you want to find a REALTOR® like me, that you can get to know and trust.

 

• You want some recommendations for preparing your home for sale and especially determining what repairs and other work needs to be done.

 

• You want an honest assessment as to the state of the local market, and the best time for you to buy or sell.

 

• You have real estate-related questions and you want to talk to an expert who knows the local market well and can provide you with answers.

 

As you can see, there’s a lot of value you can get from talking to me as your REALTOR®.  Call today.

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As was expected with high inventory levels and a 6% year to date decrease in home sales, the average and median price are seeing a slight decline. Year to date the average residential selling price in the city of Saskatoon is down 2% to $346,371. The median price indicates a slightly greater reduction of 5.7% to $335,000. 
 
"A slight decline in pricing was anticipated with just over 2,000 residential units for sale in Saskatoon." comments Jason Yochim, CEO with the Saskatoon Region association of REALTORS®. "The decrease in home sales is also a factor and could be caused by lower demand or asking prices that do not reflect the market, turning away potential buyers". he adds. 
 
The five-year average for active listings is 1,633 units. Based on the sales activity in May, it would take just over 5 months to liquidate the current inventory. Properties that have been selling are selling within 97.2% of their asking price and in an average time of 45 days. The five-year average for the number of days to sell is 37.
 
The sales-to-listing ratio is determined by dividing the number of sales for the month by the number of new listings. At the end of May, the sales-to-listing ratio was 41% which is considered to be a buyers' market. The five-year average for sales-to-listing ratio is 48%, which represents a market that would be considered "balanced".
 
Market activity in the area and communities surrounding Saskatoon appears to be slightly more challenged. The total number of sales year to date was 388 at the end of May a decrease of 20% for the same period last year. The average selling price of $309,099 is down 3% from 2015, comparable to that of Saskatoon. 
 
Year to date, Martensville saw a total number of sales at 67 representing a 7% decrease for the same time last year. Warman on the other hand experienced a 52% decrease in sales for the first five months of 2016 when compared to the 169 sales last year. 
 
The total number of properties available for sale in Warman at the end of May was 209 which would take a year to liquidate at the current rate of sales. Comparatively, Martensville had 159 listings available representing just over seven months of inventory. The average time required to sell a home for these two cities is 45 days.
 
"It is important to keep in mind that houses are selling in all price ranges, the key to realizing a sale in a short period of time at 97% of asking price is to get sound advice on where a particular home fits in the market based on its condition and location compared to its competition." advises Yochim.  -Source: June 2016 SRAR Media Release
 
I can provide you with that sound advice.  Call today.
 
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