11. December 2008 by Kari Calder.

Saskatoon’s housing market is expected to be one of the few that comes out ahead in 2009. Re/Max representatives have been quoted as predicting Saskatoon’s real estate market will see the highest percentage increase in sales units for 2009 out of 22 major markets. Regina’s real estate market is expected to stay the same, matching this year’s sales.

Of course, Canada’s housing market performance will depend on economic performance, says Michael Polzier, of Re/Max in Ontario/Atlantic Canada. Until consumer confidence is regained, the housing market in Canada will not be remedied, but if inventory levels remain stable this could happen as early as spring. The lower interest rates also stimulate home-buying activity. The new interest rate along with the abundance of product make this a great time to buy a house in Saskatoon and other areas. The average Saskatoon home price is expected to end up at approximately $289,000, up 24% from last year and it is expected to creep up even closer to $300,000 in 2009.

Although unit sales (number of houses sold in Saskatoon) are down from 2007, they should rise slightly in 2009. High inventory levels played a role in the Saskatoon housing market. New houses in Saskatoon and speculation also affected the inventory levels, but we should see a more balanced market in 2009.

One of the reasons for the increased demand for housing in Saskatoon for 2009 is that there will be more job opportunities in Saskatoon at higher income levels which will attract people from out of town and out of province. Also, thanks to improved economy in Saskatoon, more people will return from out of province.

We won’t see vast increases in house prices in Saskatoon next year, but a more conservative increase once the inventory gets back to normal. Our Saskatoon real estate market is now stabilizing. There are some that still expect house prices dropping further in Saskatoon, but we are starting to see houses selling in Saskatoon much more quickly and there are many more sold signs in the past 2 weeks than there had been in a few months.

This is a great time to pick up a bargain in Saskatoon!

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

Posted in Saskatchewan News, Canda Real Estate News, Saskatchewan Real Estate, Buyers, News, Current Market, Saskatoon Real Estate | No Comments »

6. December 2008 by Kari Calder.

Within 3 years all of Saskatchewan will have access to high speed internet access thanks to a new $129 million infrastructure plan, according to the provincial government on Wednesday, November 26th.

Right now we are at 86%, however the coverage will increase to 100% in the next 3 years. And great news for cell phone users, the province is adding as many as 50 new cell phone towers to give 98% of the population access to coverage (up from $96%)

Brad Wall wants to be sure that we can accommodate and be ready for the growth in the province that we have seen and expect to see in the future. The province is providing $90 million to SaskTel for the work while the crown company is providing $39 million.

Expanding the service became a priority for the government so that small businesses, students, and others could all be on equal footing, no matter where they were located in Saskatchewan.

As a Saskatoon real estate agent I am thrilled as this (hopefully) means less dropped calls when I am showing homes outside of Saskatoon and increased safety when selling homes in rural Saskatchewan.

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

Posted in Saskatchewan News, Saskatchewan, Saskatoon News, Saskatoon | No Comments »

6. December 2008 by Kari Calder.

On November 26th, 2008 a record $241.7 million capital budget for the City of Saskatoon was announced. This huge budget will start paying for mega-projects such as the continuation of Circle Drive’s south bridge and the new police station but it also has to go towards the regular maintenance and repairs of streets and bridges. Will this help the backlog of non-flashy work like fixing water lines and repaving streets? Probably not. The city of Saskatoon projects a backlog of $195 Million worth of projects in the next 5 years. Senior government funding usually goes towards new projects with the opportunity for ribbon-cutting photo ops and signs and the non-designated federal and provincial funding goes towards the less flashy work.

The 2009 capital budget includes $103 million to develop land in new neighbourhoods like Evergreen, Rosewoodand Blairmore. The preliminary work on Circle Drive South is $10.14 million and $5 million to design the new police station and acquire land.

Last year’s capital budget was $218.4 million.

Hopefully this new budget will aid with some of the infrastructure deficiencies we have seen in our growing population. With Saskatoon real estate as busy as it has been and the influx of people moving to Saskatoon, infrastructure is extremely important.

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

Posted in Saskatoon News, Saskatoon | No Comments »