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Congratulations to my newest #VIPs’ Virginia & Evan on your 1st home! 


You reached out to me with the hope that I could help you purchase this adorable home.  Through high’s and low’s you listened to my advice, staying focused, patient & positive and now your dream of home ownership has been realized; at an amazing value savings of over 15% of list price and extra ‘goodies’ negotiated in to help furnish and create your new space.  It was such a pleasure helping you accomplish this dream, well deserved and I’m super happy for you.  Thank you for choosing me as your ABR® Realtor and for your trust, efforts & friendship.  Enjoy being new home owners!

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When you're having a garage sale, one of the toughest tasks is pricing your items. If you put a price tag on your old golf clubs that’s too high, no one will buy them. If you make the price too low, they might sell quickly, but you’ll spend the rest of the day wondering if you could have gotten more! It's similar to selling your home — except with your home, the stakes are much higher. You want to price your property to sell, but you don’t want to leave any money on the table.


How do you accomplish that?


Setting the right list price for your home requires a combination of skilled calculation and industry savvy.


Let's start with the "calculation" part... 


When you work with me, I'll review recently sold properties that are similar to yours in type, size, features and location. Then, using that data, we’ll calculate a range that represents your property's "current market value."


For example, consider a spacious 15-year-old bungalow in a nice neighbourhood. If similar homes in the area have sold for $475,000- $550,000 in the last six months, then it's obvious that your home should sell in that range too. A list price above or below that range would be in the danger zone.


But skilled calculation is only half the task. Setting your list price also requires expertise in the local market, combined with good old-fashioned gut instinct. That instinct comes from being on the front lines of many property transactions.


That's why working with a good real estate salesperson is so important, when you’re deciding on the list price for your home.


Want to discuss selling your home? Call me.

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The total number of new residential listings in Saskatoon on the Multiple Listing Service (MLS) year to date totalled 7,111. This represents a 12% decline when compared to the same period last year with 8,065 properties listed. The total number of residential listings for Saskatoon and region year to date is 10,929, a 10% decline from last year. The individual month end totals for new listings in 2018 was down each month as well compared to 2017 totals. 

This decline in new listings has contributed to lower inventory levels for available properties in Saskatoon. At the end of October there was a total of 1,808 active residential properties for sale in Saskatoon and 1,095 in the regional market surrounding Saskatoon. The five-year average for active listings in Saskatoon is 1,806 while the ten-year average is 1,487. 

“Since 2015, the Saskatoon market has experienced higher inventories of active listings, this puts downward pressure on pricing and often upward pressure on the sales to new listing ratio.” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. The median price of a home in Saskatoon has declined as well since 2015 as has the average price. The average residential price was $332,000 at the end of October, 
down 4% from a year ago and $20,000 from two years ago. Although much focus in real estate is on the average price, the average can be misleading and is easily skewed. A better 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 are 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. Currently this value is at $312,600 virtually unchanged from a month earlier. The Benchmark price for a typical Townhouse style property in Saskatoon was $222,900 last month, for apartment style properties, $180,100 in October. For more information on HPI go to saskatoonrealtors.ca.


Year to date, the total number of residential sales on the MLS® system in Saskatoon was 2,964, down 2% from last year. For Saskatoon and region the total number of sales was 4,074, a 1% decline from 2017. Total MLS® sales of 285 in Saskatoon for October was unchanged from the same month last year and but down 9% from October 2016. 

“It's encouraging to see home sales at a comparable level to last year in spite of economic challenges and the “stress test” changes to financing earlier this year," comments Yochim.   “It would seem that sellers are recognizing the importance of expert advice from our REALTOR® members in pricing to the current market.”
 
Source: November 2018 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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Ideally, you would like buyers to wait until they’ve viewed your whole property before they judge it. However, the reality is, buyers start forming an impression of your home as soon as they see it from the curb. So, it pays to do everything you can to improve your property's "curb appeal".


Here are some ideas:


· You can improve the impact of your landscaping by trimming hedges, removing any unsightly weeds, and cutting the grass. Planting just a few fresh flowers can make a big impact. 


· If your main entrance door is old, a fresh coat of paint will make it look like new. In some cases, the effect is significant.


· Remove any items that might distract the buyer from forming a good first impression. For example, garbage cans,    stored items along the side of the property, etc.


· Make sure the curtains and blinds on your front windows are open during viewings. That will make your home look  more friendly and appealing.


· If your driveway has grease stains and other blemishes, consider renting a power washer and giving the driveway a  thorough cleaning.


· Clean your front windows. If possible, also clean the exterior panes.


Finally, if possible, park your vehicles on the street and away from your home. Doing this will not only make your home look more inviting to buyers, it will give them a convenient place to park.


Most of these tips can be done in less than a day. Yet, they can make a big difference in your home's curb appeal. They are worth the effort!

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Year to date the average price of $332,700 for a home in Saskatoon represents a decline of 4% from a year ago. By comparison in the past three years, the third quarter average price was $347,165 in 2017 and $352,103 in 2016. Although much focus in real estate is on the average price, the average can be misleading and is easily skewed. A better 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 are 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. Currently this value is at $312,200 which is the highest level for 2018 and is virtually unchanged from a month earlier. The Benchmark price for a typical Townhouse style property in Saskatoon was $219,700 last month, this is the lowest point since April of 2007 when the value was $205,300. For apartment style properties, the Benchmark value of $176,200 in September was the first increase since December of 2007 when the value was at $190,600. For more information on HPI go to saskatoonrealtors.ca .

Active listings in Saskatoon continued to shrink with year over year decline of 7%. In Saskatoon at the end of September there were 1,944 active listings compared to 2,082 a year ago. Active listings are higher in the region surrounding the city which includes the cities of Martensville and Warman. At the end of September there were 1,161 available properties compared to 1,086 for the surrounding area. The decline in available properties is mostly attributable to an overall decline in new listings coming on the market. Year to date, there were 6,521 properties listed in the city of Saskatoon, a decline of 11% compared to 2017. In the month of September, there were 648 new listings in Saskatoon. 

By comparison in September of 2017 there were 767 new listings and 779 in 2016. “It seems that sellers who are not highly motivated are choosing to wait until conditions are more favourable to sell.” Comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. “Currently we are in a buyers market with elevated levels of inventory and downward trending prices for most properties.” He adds.

In the month of September there were 268 residential sales on the MLS®. This is similar to September of 2017. The total number of sales for the first three quarters of 2018 was 2,679, a 5% decline from last year. By comparison, in the first three months of 2016, there were 2,935 sales in the city of Saskatoon.  
-Source: October 2018 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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If you're working with a landscaping contractor, you want to develop a good working relationship with that professional, so you can avoid delays, stress and other issues. After all, the last thing you want is a tree planted in the wrong spot because of a misunderstanding!


The same holds true when working with a real estate agent. Whether you're buying, selling, or both, you want the process to go smoothly and successfully. Creating an ideal working relationship with your agent is an important step toward making that happen.


How do you do that?  


First, ask your agent to go over the process with you. If you're selling your home, you want to understand the steps the agent is going to take. That way, there will be fewer surprises. In particular, you’ll want to discuss how viewings will be handled. You'll need to come to an agreement as to when your home will be available for viewings, how short-notice viewings will be handled, and whether or not "lockbox access" will be needed.


Don't be afraid to ask questions, even if you're worried about seeming to be naive. (You won't!) You don't want to have unanswered questions or concerns between you and your agent.


Also, know that misunderstandings and mistakes can happen in any relationship with a professional. So if an issue comes up, discuss it right away. Don't let it fester.


Finally, remember that your agent should be a professional like me, with expertise in buying and selling in this market. When I make a recommendation regarding pricing, prepping your home, viewings, etc. remember that I am working in your best interest. I want to sell your property, quickly and for a good price, just as much as you do!


Looking for an agent you can trust? Contact me today!

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Is your home feeling a little cramped? If so, there are many relatively inexpensive ways to free up more space. Here are some ideas:


1. Convert traditional into non-traditional space. We’re all familiar with converting a spare bedroom into a home office or kids’ playroom. You can also create space by finding other uses for pantries and walk-in closets.


2. Explore smart storage solutions. There are many products on the market that revolutionize how you store things. For example, there are closet organizers available that double storage capacity. Check out the options at your local home improvement store.  


3. Get rid of unneeded furnishings. Is there a chair no one ever uses? Is there a side table that takes up a lot of space, with nothing but a few knick-knacks on it? Consider selling these items to free up some space.


4. Think high. Install storage shelves, hangers or baskets high up in the kitchen and laundry room. Use that storage for items you only access infrequently.


5. Consider storage rental. If you have furnishings and other items that you don't want to get rid of, consider renting a storage unit. There may be economical options in your area.


With a little creative thinking, you’ll be amazed by how much space you can create within your existing rooms.

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For the seventh straight month this year, the number of active listings in the market was down year over year. At the end of August there were 2,019 active residential listings in the city of Saskatoon, a decline of 8% from a year ago. Of the active listings, approximately 1,227 are single family while just over 780 fall under condominium ownership. The decline in active listings is largely due to a decline in homes listed year over year. To date, a total of 5,875 residential properties have been listed in Saskatoon on the Multiple Listing Service® (MLS®), down 11% compared to the end of August last year. “In a slower market, one typically sees fewer speculative sellers than in a hot market” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS® “It’s important to bear in mind that homes sell in all markets. If a seller needs to sell then they must be sure to have good advice and price to the current market conditions.” adds Yochim. 

In the month of August there were 329 residential sales on the MLS®. This is on par with August of 2018 and just lightly below the five year average of 352 sales for August. Year to date there have been 2,411 residential MLS® sales in Saskatoon, of these 1,751 are single family properties, unchanged compared to the first eight months of last year. On the other hand, there were 648 condominium at the end of last month, 11% fewer than last year. 

Year to date residential MLS® sales between $200 - 300,000 totaled 657 transactions, down from 707 a year ago. The number of homes that sold between $350-750,000 on the MLS® year to date was also down by just over 100 sales from 1,036 transactions in 2017. So far in 2018, a total of 41 properties have sold in excess of $750,000 in Saskatoon, on par with last year.

The Home Price Index (HPI) Value for single family residential home sales in Saskatoon increased slightly from July to $312,200. The HPI measures the change in value over time for a typical single family home with a standard set of attributes. This rate of change reports similar to the Consumer Price Index and is the most accurate indicator of home pricing. The HPI value for townhouse style residences declined for the month to $225,200, down from $234,400 in July. Benchmark pricing for apartment Style condominiums continue to decline for the eighth straight month. For more information on HPI go to saskatoonrealtors.ca . Year-to-date, the average sale price was $334,226, a 4% decrease from the same period last year. Average prices can be misleading as outlier sales can skew the average sale value one way or the other over a short period of time. This is why the median price of HPI value is a better indicator of the market.

Last month, the average home in Saskatoon took 52 days to sell in Saskatoon. The five year average for days to sell in the month of July is 50.4 days. -Source: October 2018 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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If you need to upsize or you’re simply ready for a change, it’s tempting to consider a major renovation. After all, renovating means you don’t have to go through the process of selling your property and buying another more suitable home. You just fix up the one you’ve got!


However, you need to carefully consider the pros and cons of renovating before going this route. You don’t want to invest in a costly renovation only to end up with a home that still doesn’t meet your needs.  



Say, for example, your current property doesn’t have a home office. Since all the bedrooms are taken, you decide to renovate a portion of the basement.  Building that new home office may seem like a simple project, but once you consider new electrical, flooring, lighting, etc., it really isn’t. Like most renovations, it will probably cost more than you think. Plus, you’ll need to consider whether you’ll really want to work in the basement.


In this case, it might make more sense to find a new home with an extra bedroom that can be converted, or, better still, a dedicated home office space — with windows!  


Of course, there are many circumstances in which a renovation may be the best way to go. If you don’t like your kitchen, for example, upgrading it may not only get you the kitchen you want, but also add value to your property.


Basically, you need to ask yourself: "Which is more likely to get me the home I really want – a renovation or a new home?"


If your answer is a new home, then there is probably a property on the market right now that would meet your needs. Let’s talk.

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According to the National Fire Protection Association (NFPA), more than 160 people are injured each year in BBQ mishaps. That doesn't sound like a lot considering the thousands of people who flip burgers on their backyard grills each year. But, you certainly don't want to be one of those injured!  


The best way to prevent fire and injury is maintenance. Remarkably, few people are even aware that BBQ maintenance is necessary. But, it is.  


Every spring, experts say you should clean out the venturi tubes. Those are the little metal pipes that carry propane or natural gas. Pipe cleaners work well, although hardware stores also carry specialized tools for this purpose. The goal is to clean out any builtup dirt and debris. Don't be surprised if you find spider webs inside a venturi tube!


Your BBQ grills should also be cleaned with soap and water each year. Just scraping them before barbequing isn’t enough. Fat and oils from cooking can build up on grills and harden. If you're getting a lot of flare-ups, this may be the cause.


Finally, make sure nuts and bolts are tightened regularly, and replace any rusty hardware. Regular use, heat and weather can loosen or weaken bolts, particularly on the frame. Several fires each year are caused by BBQs tipping over or collapsing.

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There are many good reasons to put your property on the market. Some examples include a relocation, the kids leaving the nest, the need for something bigger or smaller, and the list goes on and on.


However, there are also some less-than-obvious indicators that it may be time to sell. Consider the following:


1. Your Property is no longer a Good "Fit" Your home may have been perfect for you when you bought it. But things change. Families grow. Needs evolve. For any number of reasons, your property may no longer be a good fit for you. If that's the case, it makes sense to at least take a look at what's available on the market. Who knows? Your next "perfect" home may be for sale right now — within your price range!    


2. The Neighbourhood is Changing You may have been in love with the neighbourhood when you first moved in. But, over time, the characteristics of any area can change. Those changes don’t necessarily mean the neighbourhood is getting worse. In fact, it may be changing in a positive way; perhaps becoming more urban. But, "more urban" may not be what you want. So take a look at the direction your neighbourhood is heading. Ask yourself, "Do I still want to be living here in two years?"


3. You're Ready for Your Dream Home Remember when you purchased your current property? Did it have every feature you wanted? Was it your dream home? Or, did you have to compromise on a few things, such as the size of the kitchen? If you had to make some tough choices back then, it might be time for you to finally get the home of your dreams.


Those are just three indicators it may be time for you to make a move. Of course, there are many others.

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The month of July saw a significant increase of over 25% in the year-over-year Multiple Listing Service® (MLS®) sales activity with a total of 390 unit sales in the month. This compares with 310 transactions in July of 2017. Total MLS® transactions for Saskatoon year to date was down 3.3% with 2,082 home sales compared to 2,152 to the end of July 2017. 

“Although one month does not constitute a trend, it is very encouraging to see such a significant increase in activity during a month when many buyers typically leave town on vacation” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. Other positive indicators are a decline in the number of new MLS® listings coming on to the market. 

A total of 710 new MLS® listings in July represented a decrease of 10% over last year and well below the five year average of 830 listings. Fewer new listings combined with an increase in sales reduced the number of active listings from 2,109 in June to 2,048 at the end of July. The five year average for active MLS® listings is 1,977 units. “Lower inventory levels will help move the market from a buyer’s market towards balance and stabilize home prices.” adds Yochim. 

MLS® sales below $200,000 totaled 57 transactions in July, 55% higher than July of 2017, while year to date sales increased by 26% with 307 transactions. Homes that sold between $300-400,000 on the MLS® in July showed an increase of 27% over the previous July while year to date the number of sales in this price range totaled 1,229, a decline of 5%. Home sales in excess of $400,000 totaled 540 transactions year to date, a decline of 12% over the previous year.

The Home Price Index (HPI) Value for single family residential home sales in Saskatoon took a slight decrease in July of 0.1% to $315,400 compared to $315,800 at the end of June. The HPI measures the change in value over time for a typical single family home with a standard set of attributes. This rate of change reports similar to the Consumer Price Index and is the most accurate indicator of home pricing.

The HPI value for townhouse style residences continued on its upward trend, increasing by 1.2% for the month to $234,400. For more information on HPI go to saskatoonrealtors.ca.  Year-to-date, the average sale price was $334,676, a 4.1% decrease from the same period last year. Average prices can be misleading as outlier sales can skew the average sale value one way or the other over a short period of time. This is why the median price of HPI value is a better indicator of the market.

Last month, the average home in Saskatoon took 49 days to sell in Saskatoon last month. The five year average for days to sell in the month of July is 48 days.   
-Source: August 2018 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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