Archive for the ‘Current Market’ Category

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Fintrac Petition

Monday, July 27th, 2009

There is a new petition circling around the Saskatchewan real estate community from a Regina Century 21 agent, but I am wholeheartedly against this petition regarding taking personal information when buying or selling a house in Saskatoon. The realtor in Regina has some good points about the collection and use of confidential information, but as long as the realtor who is taking the information complies with the regulations, the original and only copies will be sent to Ottawa and we, nor our offices, will not have any of the client’s private information on hand.

I have experienced clients attempting to launder money through real estate in Saskatoon and this new legislation has put them off from purchasing a house for sale in Saskatoon, for the time being, until they find a way around it. Even when the market was starting to slow I was getting calls from people who wanted to buy a house in Saskatoon to ‘flip’ but I was suspicious as they were looking for people they could pay cash to fix it up. Chances are, money was being laundered this way as the sellers would turn around and sell it and not necessarily make much (if anything) but their money would have been ‘cleaned’ so to speak.

Unfortunately, this does not prevent criminals from buying a house in Saskatoon privately and then turning around and putting the house for sale in Saskatoon privately, but buyers (and private sellers in Saskatoon) need to be aware that they may be helping aid in terrorism and crime.

I have had to provide my ID when buying RRSP’s, and I certainly wasn’t spending close to what a person spends when buying a house for sale in Saskatoon, or anywhere for that matter!

I am realtor in Saskatoon who is okay with taking photo ID from people who are buying a house in Saskatoon or selling a house in Saskatoon with me as their Saskatoon realtor as I would rather not deal with people who may be aiding in terrorism. Unfortunately, there are realtors in Saskatoon, and every other city, who are less concerned with ethics and more concerned with making money, but even they are forced to comply now and take ID from every client.

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

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

Housing Starts Down In Saskatoon

Monday, July 27th, 2009

For the first half of 2009 the housing starts in Saskatoon have fallen by a whopping 78%. We are down to 342 new houses in Saskatoon from 1574 new houses in Saskatoon started in the first 6 months of 2008. Multiple family starts dropped an astounding 93% from 754 to only 53 in the first 6 months this year while single family homes dropped from 820 in 2008 to 289 in 2009.

The decline has to do with many factors, but the overall economic downturn is a big part of that but our slowing of new housing in Saskatoon also has a lot to do with following one of the busiest years in history. Many builders were also trying to get rid of last year’s inventory as well as there are still many vacant new homes in Saskatoon. This helps the existing homes for sale in Saskatoon as the inventory of new homes in Saskatoon is starting to clean up.

Houses for sale in Saskatoon have been reduced in number in June with many more sold signs popping up. June did see more housing starts than in earlier months with 116 single family starts, but still down 28% from last June. Regina has also seen a decrease in new housing while Moose Jaw, Prince Albert, and Yorkton saw increases in houses being built.

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

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

Saskatoon Population Rises Again

Saturday, June 27th, 2009

Statistics Canada released figures today that show that our population in Saskatchewan continues to grow and is the highest it has been in 20 years. In the first quarter of 2009, Saskatchewan grew by 3282 people which brings our province up to 1,027,092 people which is the highest since July 1, 1988. In the past year (from April to April) our province has grown by 15048 people. We notice this in the Saskatoon real estate market as the amount of homes for sale in Saskatoon has been staying quite steady with speculators now out but personal use home buyers taking over.

These numbers reflect that our province is still a place where people look for opportunity and it also shows that Saskatchewan’s economy is resilient and strong. We lead the country in employment growth which means more people moving to Saskatchewan but also more people staying in Saskatchewan to work and raise their families.

Our largest supplier of in-migrration this year was from Ontario as there was a net migration from Ontario to Saskatchewan of 889 people. Alberta led the in-migration for the country with Saskatchewan coming in second.

The Saskatoon real estate market reflects this in-migration as does the amount of Ontario license plates to be seen in our city. While in 2006-2008 we saw a lot of Alberta plates, this year Ontario is outnumbering them.

If you are looking to buy a house for sale in Saskatoon or want to speak to a Realtor ® in Saskatoon, give me a call or send me an email. I am an efficient Saskatoon realtor ® and put my buyers first.

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

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

Average House Price In Saskatchewan Up 4%

Monday, June 22nd, 2009

Average house prices in Saskatchewan were up 4% in May thanks to increases in 4 Saskatchewan cities. The average house price in Sask is now $242,829. While the average home price in Saskatoon is down 7% from last May to $279, 477 this year, the average price of a house for sale in Regina is up 12% to $263, 424.

The other 3 Saskatchewan communities that are posting record average prices are Yorkton, Swift Current, and Prince Albert.

The Saskatoon real estate market has seen stabilizing prices with listings down and sales up and it is expected that sales will remain steady.

President of CREA, Regina broker Dale Ripplinger, says that sales activity is closer to the pre-recession peak than the trough hit in January. Several things are helping buyers purchase houses for sale in Saskatoon such as improved consumer confidence, low interest rates, and better affordability.

If you are looking to buy a house for sale in Saskatoon call your local Saskatoon realtor ® Kari Calder as I can help you with purchasing any house for sale in Saskatoon, whether it be a private sale or a Saskatoon MLS property.

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

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

Rent in Saskatoon Up $100/Month In the Past Year

Sunday, June 21st, 2009

Although the Vacancy Rate in Saskatoon has went from 0.9% in April of 2008 to 1.9% in April of 2009, the average price for a rental property in Saskatoon has also gone up by approximately $100/month. The average price for an apartment for rent in Saskatoon last year was $689 while in 2009 the average price is now $790. So, although rental accommodation in Saskatoon is slightly easier to find, it is also harder on the pocket book.

With the increase in the rent prices in Saskatoon some have been forced to double up to reduce costs, move in with friends, etc.

This rent increase, however, is making buying a house for sale in Saskatoon much more appealing. Houses for sale in Saskatoon are still very easy to find, combined with a low interest rate and a decreased marketing, buying a house for sale in Saskatoon is much easier to do than it was a year ago.

Not everyone is in a situation where they can afford to buy a house for sale in Saskatoon nor is everyone in a situation where they have good enough credit to buy one of the many houses for sale in Saskatoon, but there are ways to improve your credit and to improve your financial situation so that you can eventually buy a house in Saskatoon.

Sometimes a poor decision with your finances a few years ago is preventing you from being able to buy your own house in Saskatoon. Sometimes a life situation (divorce, separation, etc) forces you to have to rent, but with the high prices of rent combined with the (sometimes) low prices of houses for sale in Saskatoon, it isn’t impossible out unattainable by many people who think it hopeless.

It is important to speak to a really good Saskatoon mortgage broker to see what steps you need to take to get into a situation where you can eventually buy a house for sale in Saskatoon. Even if it takes a year to clean up your credit and you have to buckle down and make some life and lifestyle changes, that could be a lifetime of building equity in your house in Saskatoon instead of paying someone else’s mortgage.

I have dealt with many clients who had some credit problems in the past, but with the right people to talk to and to provide some direction, many of these clients are now home owners in Saskatoon. With all of the houses for sale in Saskatoon there is still time to buy your own.

I am always happy to visit with people on the process of buying a house in Saskatoon and surrounding area and to provide the names of some great mortgage brokers who may help you achieve your dream of owning a home in Saskatoon.

Call me or email me,  I look forward to hearing from you and hopefully helping you achieve your dream of owning a house in Saskatoon.

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

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

Housing Stars Fall Dramatically – 85% from 2008 First Quarter

Tuesday, April 14th, 2009

Saskatoon real estate should tighten up again with the dramatic housing start decrease in 2009. Regina real estate will also see the same thing as they also had a huge drop in housing starts. Not only are Saskatoon realtors trying to juggle the overabundance of listings, Saskatoon home builders are also dealing with their high inventory. The decreases were fully expected announces Paul Caton, CMHC market analyst in Saskatchewan, but they do expect an increase in 2010. What is happening in the current Saskatoon real estate market is there are a lot of resale houses for sale in Saskatoon. This means less work for the home buyer and often times less money for an ‘almost new’ house for sale in Saskatoon. Saskatoon builders have only started 77 single-detached houses this year which is down from 284 new home starts in Saskatoon just last year…down 73%. In March these starts fell 75% to 32 units down from 128 new housing starts in Saskatoon in March of 2008, but keep in mind that March 2008 was one of the strongest months on record for new housing in Saskatoon to be started.

As for multi-family dwellings in Saskatoon only 12 have been started this year, down 96% from 2008 and the lowest number since 1991. Last year 306 multi-family units were started in the first quarter.

Regina is much the same with Regina builders only breaking ground on 42 new houses in Regina in March, down 40% from last March. There are only 117 new houses in Regina that have been started in the first quarter and multiple units were down 90%.

Saskatchewan in general is down 73% with 257 units from 948 units last year for the first quarter.

What does this mean? House prices should remain stable and strong and we should only see a modest decrease this year and potentially some increases in house prices in the next year in some Saskatchewan real estate markets.

For more information on the Saskatoon real estate market be sure to contact me!

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

Posted in Canda Real Estate News, Current Market, Listings, News, Saskatchewan Real Estate, Saskatoon Real Estate | 1 Comment »

New Home Prices Rise In Saskatoon Despite The Recession

Saturday, April 4th, 2009

According to Statistics Canada the price for a new home in Saskatoon and area rose by 0.8% from December 2008 to January 2009. The federal agency’s new housing price index report also showed that from January 2008 to January 2009 that Saskatoon new home prices dropped 2.7%. Nationally new home prices dropped 0.6 % from December to January. Despite no month to month change on new home prices in Regina, the prices rose by 21.7% from January 2008 to January of this year.

Consumers do need to be aware that average house price in Saskatoon can be a bit deceiving as this reflects all areas of the city as well as all types of houses, but new home prices from area to area aren’t as drastic. Although, from Hampton Village to Willowgrove consumers may see a $30,000-$50,000 price difference favoring Willowgrove for its east side location away from the airport. So keep in mind with average house prices in Saskatoon that one month may see a lot of low priced condos sell while the following month there may be many high end homes in Saskatoon that have sold.

Read the star phoenix article here.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd

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

First Time Home Buyers – Now Is Your Opportunity

Saturday, April 4th, 2009

During the past year market conditions have improved vastly for first time home buyers in Saskatoon. While last year it was very hard to get into the market for first time buyers, this year it is easier to buy a house in Saskatoon as well as to get a good mortgage rate when buying a house in Saskatoon.

While last year the starting price for a 1 bedroom apartment style condo was around the $140,000 mark this year you can get into a 1 bedroom apartment style condo in Saskatoon for as little as $120,000. The house prices in Saskatoon peaked in the spring of 2008 and then went through a correction due to the high inventory of houses for sale in Saskatoon. New listings in Saskatoon went up to a record high in the summer of 2008 and due to that excess of inventory the house prices in Saskatoon dropped a bit. First time home buyers in Saskatoon should be taking advantage of the price decrease plus the incredible interest rates.

Certain communities in Saskatoon also allow for easier purchasing with first time home buyers in Saskatoon. On the west side, some of the favorable areas for first time home buyers are Mount Royal and Hudson Bay Park and on the east side of Saskatoon the favorable areas include Nutana and Avalon. These areas have more entry level homes than areas like Lakeview or Briarwood, but Nutana still has some very pricey homes due to its location close to the popular “Broadway” district and the downtown of Saskatoon.

Regina has also seen a correction in real estate prices down from 2008 and is also a favorable market for first time home buyers. A large number of houses for sale in Regina makes it a ‘buyers market’ and gives buyers the upper hand. Both Regina and Saskatoon are seeing a buyer’s market in 2009.

For more information on the Saskatoon real estate market be sure to contact me!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd

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

Saskatoon Current Real Estate Market – March 20, 2009

Friday, March 20th, 2009

After a long period of time when we were all wondering if the market was going to pick up it appears that the buyers who were trickling in are now out and are buying houses in Saskatoon. Last week our Saskatoon Century 21 team saw 46 listings come in and 51 deals on existing listings (so more houses in Saskatoon were bought than listed last week).

We also saw the lowest ever interest rates and low mortgage rates in Saskatoon with a 5 year closed term at 4.15%.

The MLS stats from last week (March 9-16th) saw the following:

New listings in Saskatoon: 158 (the previous week was 182)

Houses sold in Saskatoon: 56 (up to from 54 the week before)

Total active listings: 1350

Total vacant properties: 510 (up 3 from the week before)

We are seeing that the low interest rates and the fact that people are starting to understand that the economy in Saskatchewan isn’t going to implode is helping motivate buyers. It is a great time for first time home buyers in Saskatoon and for people to buy a house in Saskatoon in general. It is still very much a buyer’s market in Saskatoon but we are starting to see people with their houses for sale in Saskatoon dig their heels in a bit more and resist the low balling that buyers are trying. Some people with houses for sale in Saskatoon are still in a position where they have 2 mortgages so some houses for sale in Saskatoon are still selling for well below list price, but overall the market is gaining some momentum and hopefully the number of houses for sale in Saskatoon decreases with the amount of people buying houses in Saskatoon starting to increase. I think it will still be another year or so before we go back to a balanced real estate market in Saskatoon as there is still a lot of excess inventory, but we will get there with the amount of people looking to buy a house in Saskatoon from outside of the province and country.

If you are interested in buying or selling your home or looking for information on the Saskatoon real estate market please contact me!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd

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

Interest Rates-Lowest In 8 years!

Thursday, February 12th, 2009

This is a great time to lock into your mortgage with rates like these! Prime rate of 3% is a great way to stimulate the Canadian economy. Finally it is a great time to buy more house at a lower cost which is a very rare opportunity. There is definitely a window open to buyers to get into the Saskatoon real estate market right now that won’t be around forever. There are plenty of choices for home buyers in every price range of houses for sale in Saskatoon whereas even a year ago there was less than a quarter of the selection.

Just 2 years ago a buyer could not put a condition of financing on a home for sale in Saskatoon much less the condition of having a home inspection done, but that heat is over and now is a great and safe time to buy. Interest rates probably won’t go any lower! Prices of houses for sale in Saskatoon, however, will not stay soft forever. Prices seem to be stabilizing in the Saskatoon housing market now that many of the desperate sellers have sold their Saskatoon homes.

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

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

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