Archive for April, 2008

Condo Conversions On Hold In Saskatoon

Thursday, April 17th, 2008

The topic of condo conversions in Saskatoon has been a hot topic for the past year.  Many Saskatoon renters have been demanding the city of Saskatoon do something to address the extremely low vacancy rate for rental property in the city.  Many apartment building owners over the past two years have been taking advantage of the extremely hot Saskatoon real estate market and selling off their properties or converting them to condos themselves.

On Monday, April 14th after 5 hours in what the Saskatoon Star Phonenix described as a heated debate, a majority of city council voted to change civic policy so that apartment buildings will no longer be allowed to be converted into condos while the Saskatoon vacancy rate remains below 1.5%.  This could potentially be a big victory for Saskatoon renters but also could help to increase Saskatoon condo real estate prices in our city.  With less condos available on the market the average price will rise as the demand increases.

This new policy has not been officially passed and is still subject to another vote at council’s next regular meeting on April 21st.  If the policy is approved there are 14 existing buildings that filed for approval to be converted in 2007 that will not be subject to the new policy.  However any projects that were not submitted before the policy was passed will have to now wait until the Saskatoon vacancy rate rises above 1.5%.  It is expected though that the policy will provide special loop holes so that the city may still approve special projects such as buildings that have previously been condemned or else existing vacant buildings.

If you are currently interested in buying a condo in Saskatoon it may be a good time to start looking.  If the new policy is passed it will have an impact on Saskatoon condo prices.  Whether you are looking at buying or selling a condo in the Saskatoon real estate market be sure to contact me!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

Meewasin Clean-Up Campaign 2008

Thursday, April 17th, 2008

On April 22nd to May 4th the Meewasin Clean-Up Campaign will kick off.  This is a great opportunity as a Saskatoon resident to show your pride in our city and contribute a bit of your time to ensure our city remains beautiful and clean.  This is an annual event and will kick off at St. Edward School in Westmount. This event is sponsored by Affinity Credit Union.  This is a great event to attend and show your support for our city.  Remember the more appealing out city is to visitors the more our Saskatoon real estate market will continue to grow as people discover the beauty and appeal of our city!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

Saskatoon River Landing Delayed

Thursday, April 17th, 2008

The city of Saskatoon along with the Meewasin Valley Authority are facing the same challenge that many people interested in getting involved into the Saskatoon real estate market are.  Due to the rising costs of construction materials and the shortage of labourers and contractors, the completion of the Saskatoon river landing project will probably be delayed.  In a recent article from the Star Phoenix, it states that the Meewasin’s chair recently sent a letter to provincial government outlining the challenges they are currently facing.  Many of the tenders for the project have come back way over original estimates and in some cases they are 50% – 100% more.

Hopefully the provincial government will be able to provide some sort of additional funding for this project.  The river landing project will be a great addition to the city of Saskatoon and ensure that our river front maintains it’s beauty and attraction to both residents and visitors of the city.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

Saskatoon Propery Taxes Will Increase

Saturday, April 5th, 2008

The city of Saskatoon may be proposing the largest property tax increase in 26 years.  The early estimates are that this increase could come in at a whooping 8.6 per cent.  Any taxes related to the school district or education would be additional to the proposed 8.6 per cent.   As mentioned this would be the largest tax increase in 26 years.  Recently the city of Regina released their initial budget with a proposed tax increase of 3.9 per cent.  City officials indicate the reason for the large proposed tax increase is to pay for the growth of our city.  The city of Saskatoon has been experiencing incredible growth over the past few years and there is a huge demand for Saskatoon real estate.  Over the past few years the city has developed several new Saskatoon neighborhoods including Stonebridge, Willowgrove and Hampton Village.  There are additional neighborhoods planned for the next few years as well.  It is extremely expensive to bring services to the new real estate developments so this tax increase would help off-set the cost. 

Mayor Don Atchison has indicated that this tax increase is far too high and that he expects the city to scale back the budget for 2008.  As the city of Saskatoon continues to grow and the demand for Saskatoon real estate continues to increase we will see increases in our cost of living.  This ranges from everything from property taxes to even the cost of parking.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

Saskatoon Real Estate Prices Surpass Edmonton

Saturday, April 5th, 2008

The city of Saskatoon real estate market has reached a new peak in the first quarter of 2008.  All recent numbers indicate that the average cost of a home in Saskaton is now more expensive than the city of Edmonton.  A standard bungalow in the city of Saskatoon sold for an average of $340,000 in the first three months this year.  This is a 50 per cent raise in only one years time in Saskatoon.  In Edmonton the average price of a standard bungalow was $330,000 which is a drop of 4.9 per cent from the same time last year.  Two-story homes in Saskatoon on average are selling for $395,000 while in Edmonton they are selling for $363,707.  There is only one category where Edmonton is still more expensive than Saskatoon which is condos.  In Edmonton an average condo is selling for $235,000 while in Saskatoon they are selling for $220,00 but rising fast.  It is projected that the Saskatoon real estate market in all aspects will surpass the Edmonton real estate market by the second quarter of this year.

This is great news for existing Saskatoon home owners as they have earned a lot of equity in their homes.  This does however make it much more difficult for first time buyers or low income families.  The Saskatchewan economy is the fastest growing in Canada and it does not appear to be slowing down anytime soon.  The government of Saskatchewan are recording record profits and spending as well almost weekly we are hearing about new multi-billion dollar projects happening in our province.  The biggest issue that people trying to get involved into the Saskatoon real estate market face is that wages have not kept up to the cost of real estate prices.  In cities like Edmonton and Calgary the average household income exceeds Saskatoon’s by a fair amount.  We need to see an increase in wages to be able to maintain our current growth.  As more companies relocate to Saskatchewan we will start to see a more competitive job market resulting in higher wages.

If you currently own Saskatoon real estate or real estate in the surrounding towns such as Warman then this is your market.  If you are interested in selling your home be sure to contact me and I will provide you in depth information on the current market.  I can provide you a free home evaluation as well will ensure you get top dollar for your Saskatoon property.

To read more about this topic visit the Saskatoon Star Phoenix.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

Saskatoon Announces Immigration Project

Wednesday, April 2nd, 2008

The city of Saskatoon in conjunction with the federal and provincial government announced an immigration project that will assist new people relocating to Saskatoon.  The program is aimed at helping immigrants succeed in their new life in the city of Saskatoon.  This is an extremely important program as the increase of new potential workers will help off-set the high rate of job vacancies.  The city of Saskatoon is growing through a huge growth phase rate now and as a result we are seeing smaller companies or else businesses that pay lower salaries being affected the most.

From a Saskatoon real estate perspective this is also great news for people that currently own older homes in less appealing Saskatoon neighborhoods.  The demand for low cost housing will increase throughout our city, more than it has already.  Many of this people will receive government assistance in purchasing a home in Saskatoon and starting their new life.  If you are interested in investing in Saskatoon real estate be sure to contact me and I will be more than happy to help you anyway I can!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

City of Saskatoon Taking Leaves And Grass Registrations

Wednesday, April 2nd, 2008

If you are a Saskatoon home owner or will be looking at getting into the Saskatoon real estate market in the near future you will want to be sure to sign up for a great program the city of Saskatoon offers.  The city offers a grass and leave collection program targeted towards Saskatoon residents that helps keep leaves and grass from the city landfill.  Unfortunately this program is only available to 800 total subscribers which is double the amount of subscribers allowed last year.  If you are one of the lucky people that sign up early and get on this program the city will provide your Saskatoon home with a green front street roll-out cart that you can put in your unbagged leaves, grass clippings and non-woody vegetation.  The city will empty the carts every two weeks starting on May 5th until October.  The cost of the program is only $40 and the registration deadline is April 18th.  You can signup on www.saskatoon.ca or else by calling 975-2486.   This is a great program for Saskatoon home owners looking for an alternative to dispose of their leaves and grass clippings.  Spring is right around the corner and with that comes an abundance of yard work.  Be sure to sign up and get on the list!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

  

Saskatoon Parking Meter Rates Increase Today

Wednesday, April 2nd, 2008

Over the next few days parking meter rates will be increasing across the city of Saskatoon.  As mentioned in a previous blog about Saskatoon parking meter increases, this plan to increase the cost of parking across the city comes into effect today, April 1st.  Metered parking in Riversdale with increase to $1.00 per hour, from the original .50 cents.  All other areas will be increasing to $1.50 per hour from the original $1.00.  People parking in Saskatoon have several ways they can pay for parking including: coins, CITYCARD, or by cell phone.  You can purchase the CITYCARD at City Hall or several other public locations including Lawson Civic Centre, Saskatoon Field House, Lakewood Civic Centre, Cosmo Civic Centre and Harry Bailey Aquatic Centre.  To pay by cell phone you can call 955-9969, wait for the prompt and then enter the four digit meter number.

Remember if your are leaving your Saskatoon hometo be sure to take some extra change, your cell phone or your pre-paid CITYCARD to accommodate the new parking rates.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

Saskatchewan Jazz Fest Gets Additional Federal Funding

Tuesday, April 1st, 2008

For those of you who have had the opportunity to visit the Saskatchewan Jazz Festival in previous years will be happy to hear that the federal government has increased it’s funding to this incredible event from $38,000 to $80,000.  The Saskatchewan Jazz Festival is put on by SaskTel and is a non-profit organization dedicated to bringing Jazz to the province of Saskatchewan.  The Jazz festival this year will be held in the city of Saskatoon from June 20-29 in various locations around our city.  I have attended this event in previous years and have to say it’s one of the most enjoyable weekends of the summer in Saskatoon.  The city is extremely busy with music in the air.  Whether you are a frequent jazz listener or just someone wanting something to do during the week the Saskatchewan Jazz festival is definitely an event you will want to attend.  For other events that are happening in our city be sure to check out my Saskatoon events page for up to date information on upcoming events.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd. 

Saskatoon Buses Get Cameras

Tuesday, April 1st, 2008

It looks like all new buses in the Saskatoon transit system will be going ahead and getting cameras installed in them.  Since the summer of 2006, there has been a pilot project in place with cameras on buses.  The purpose of this, is to curb inappropriate behaviour and violence on the transit systems.  Personally I have only occasionally used the public transit system in Saskatoon but was surprised to hear some of the things that go on in it from a friend who is a bus driver.  He said that several times over the past couple of years people have tried to physically assault him as well there is an abundance of inappropriate behaviour.

In major cities like London, they have an extensive network of camera’s throughout the city as well as on all public transportation.  This has played a huge role in the reduction of crime in their city.  I definitely believe that this is a step in the right direction for the safety and security of our city.  Saskatoon is experiencing a huge amount of growth right now and what that means is that there is an abundance of people relocating to our city.  To help foster the growth of our city we need to be sure it is as safe as possible.  With the recent increases in the Saskatoon real estate market many people are starting to looking in more affordable areas as well.  These areas traditionally have had a higher crime rate.  Many of these people are young families just getting in the Saskatoon real estate market for the first time.  We need to be sure these areas are safe for these new families moving to these Saskatoon neighborhoods.

Read the entire article at the Star Phoenix.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.