Archive for the ‘Saskatoon Real Estate’ Category

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Saskatchewan Population Growth!

Tuesday, January 22nd, 2008

It is no surprise that our Saskatoon Real Estate market has seen a 50% jump from 2006 when you look at the statistics of population in our province.

Average house prices have risen from $165,000 to over $250,000 which is a 51% increase.

The Saskatoon real estate market was directly impacted by the influx of over 15,000 people in the past year. This finally puts our province above the 1 million mark. You can check out more stats about Saskatchewan at http://www.stats.gov.sk.ca/.

Saskatchewan’s real estate market took a big jump across the province this year and almost every city and town felt the market go up. People who wanted to buy a nice house in Saskatoon for a good price decided to go to Warman, Martensville and other surrounding towns as they simply could get more bang for their buck in these communities. Due to the demand and the small town feeling next to a big city (big by OUR standards of course!) the prices also started jumping in the surrounding communities.

Saskatoon real estate has finally caught up to some of our neighbouring provinces and the demand for buying houses in Saskatoon has not stopped. One of the reasons there are not a lot of homes for sale in Saskatoon right now is because of the lull over the holidays. The buyer’s market did not slow down as there were plenty of people buying homes in Saskatoon over the holiday season, but the inventory of homes for sale in Saskatoon didn’t keep up.

We do not have enough good labourers in this province to keep up with the demand of new homes to be built.

Houses for sale in Saskatoon seem to be dwindling after the Christmas market as people were here buying but not many people were putting their homes in Saskatoon for sale.

Whether you are looking at buying or selling a house in Saskatoon or the surrounding area feel free to contact me at anytime for further information.

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

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

Saskatoon Vacancy Rates at an All Time Recorded Low

Tuesday, December 18th, 2007

I think we all have heard about the condo conversions taking hold of our city, but the annual survey by the CMHC (Canada Housing and Mortgage Corp) has proven that our Saskatoon vacancy rate has fallen to an all time low with a 1.2% apartment vacancy rate. But, despite all that you hear about the rental increases, the average monthly rent for a 2 bedroom apartment in Saskatoon is just under $700; up only $85 per month since last year. The north end of Saskatoon as well as Nutana are both almost at 0% vacancy.

One of the reasons behind this is the booming housing market in Saskatoon we have been experiencing. Unfortunately it is harder for first time home buyers to get started in the Saskatoon Real Estate market now that prices have gone up, but there are still many options to get people started in the market. Just talk to a Saskatoon Realtor ® about how you can get started (and feel free to contact me!). Real estate in Saskatoon is still attainable for many people if you talk to the right professionals about how.

One of the ways of combating this low vacancy rate and increased housing costs in Saskatoon has been to build suites in homes to help pay the mortgage. This benefits both the home owners as well as the thousands affected by the rental shortage.

We hope that the new government will address the issue as if they do not, we will see a huge problem in Saskatchewan very quickly.

Any opinions out there? Please give me your points of view on this topic and how it can be addressed. As a real estate agent in Saskatoon I see every side of the topic and it is nice to get opinions from real people out there. Thanks!

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

Posted in Buyers, Current Market, News, Saskatoon, Saskatoon Real Estate, Sellers | 1 Comment »

Saskatoon Real Estate Market – November, 2007

Tuesday, December 11th, 2007

The month of November proves the Saskatoon real estate market is still going strong.  Saskatoon real estate agents were extremely busy this month helping in the sale of over 316 homes.  The number of homes sold in November, 2006 was 230 which is a 37% increase this year.  This brings the total number of homes sold this year to 4,236.  This number is up 29% from last year when 3,273 homes were sold.

Remember when we talk about “average” selling price, it is a calculation of the total amount of homes sold by the total dollar amount between all sales across the city of Saskatoon.  Often people interpret the average selling price as the average for all homes across the city.  Just like any city there are some neighborhoods where homes cost much more than others.  It is important to do your research on the neighborhood or area that you are looking to buy or sell in to have a more realistic idea of the dollar amount you will be looking at.  You can review more detail and information about Saskatoon Neighborhoods by visiting my website.  Another factor in the “average” selling price is what type of homes where sold.  Typically condos are less expensive than a house.  In a month where there are a higher number of condo sales you may see a lower average price.  It is always important to consult a realtor to get more realistic numbers.

To date Saskatoon Realtors® have sold 1.3 billion dollars of real estate.  This is an all time high and is up 98% from 2006 when $656,491,0000.00 of real estate was sold.  The highest numbers of homes sold are in between the $300,000 – $400,000 with homes in the $225,000 to $250,000 coming in second.

Saskatoon real estate is still very competitive compared to the rest of Canada.  Our closet out of province comparison would be Calgary where a single family home average price is around the $420,000 range.  Saskatoon is still very affordable compared to the rest of Canada even though we have seen such a big increase in real estate property.  Whether you are looking to buy, sell or invest in the Saskatoon real estate market feel free to contact me for any additional information.

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

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

Steps in Buying a House

Thursday, November 15th, 2007

#1 Decide who is going on title of the house (important when you are purchasing a house with anyone other than your spouse or common law partner)

#2 Be pre-approved by a bank or a mobile mortgage specialist-online mortgage calculators can only do so much and a bank or other mortgage professional will be able to determine EXACTLY what you can afford to pay, so utilize their expertise…it is free after all!

#3 After you have met with a bank and have your limit, meet with me and I will go through the process and show you what is available in your range. We will discuss things such as what features you want in a property (what you can and can not live without), which area you would like to live in the city, importance of schools, and what price range you are comfortable with.

#4 Now that you know what you want and what you can spend, that is when it is time to start previewing properties and not until then. It is disheartening for people who think their credit is better than it actually is and they start looking at upper ranges of properties just to find out that they cannot afford this property. It is not a good use of time or energy, so don’t get ahead of yourself! Once you have your price limit I will start sending you listings and you can weed through those online or verbally and we can narrow it down from there and THEN get out and start looking.

#5 Start looking! But give yourself limits and guidelines and take notes as, after a couple of houses you will forget which one had which feature or special thing that stands out. Trust your gut and if it feels right, go for it! Remember, it may not have exactly everything that you like, even if you built your own home it could take you 3 or more times to get it completely right, but some things are quick cosmetic fixes and you have to decide what you can do and what you will not do.

#6 Now is the time to put in the offer. Your agent will help you determine if the asking price is fair or, if negotiating, how much is fair to negotiate and your agent should let you know that offering too low may offend the vendor and you don’t want to risk that as they will continue to think you are trying to take from them. Don’t wait a few days or a week, or even one day if you think it is the right property. Act fast as someone may beat you to the punch and you may be very disappointed and not find something you like again for a long time. The market generally goes up as well so you may even end up paying MORE than what the first one was listed for due to the market changes and having to wait to find something else.

As always if you have any questions please feel free to contact me at karicalder@sasktel.net or visit my Saskatoon real estate website.

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

Posted in Buyers, Saskatchewan Real Estate, Saskatoon Real Estate | No Comments »

Waiting Until Spring to Buy?

Wednesday, November 14th, 2007

I know most people don’t want to move in the winter, however your best chance of getting a house without going into a bidding war is to buy in the next few months. Sellers are more motivated as the market is a bit slower and they may be able to work with your possession date…or at least meet you half way. You are currently seeing houses selling for list price or marginally above or below and only small competitions if any (sometimes 2 offers will come in on the same property at a close enough time that gives the sellers the ability to counter offer one of them and to have a fall back option if possible). Some houses are over priced still therefore you do see a larger variation from list price to sale price, but this is generally not the case. Most people predict the Saskatoon real estate market will take off again in the spring, but most also doubt it will rise to the extent it did last year as our wages cannot sustain that big of a jump again. If you want to avoid multiple offers and try to get a good house before the competition, get started now! It may take awhile to find the right house, but you don’t want to wait yourself out of a great house so get going sooner than later. Many people had regrets due to last winter/early spring as they thought they would wait and now they can’t afford to buy a house at all.

If you have any questions about the Saskatoon real estate market please feel free to contact me at anytime!

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

Posted in Buyers, Saskatoon, Saskatoon Real Estate | No Comments »

First Time Buyers

Tuesday, October 30th, 2007

I love working with first time buyers as I was also a first time buyer just a couple of years ago and I remember the excitement, trepidation, questions upon questions, and the end result of the greatest sense of pride of ownership as it is so new! Not the house usually, but the sense of pride of finally having your own home and something that is entirely yours. To know that you are not paying someone else’s mortgage is very empowering.

I remember when I first bought, I don’t think I slept from the time the house was bought until I got possession…3 months later!!! I would lie in bed and picture where I would put my furniture, I was out buying furniture and storing it at my friends places until I got my house, and I had my paint picked out 2 months before I even moved in. Was I excited?? Lol, just a wee bit! Luckily everything I bought and picked out fit just fine and when I finally moved in I was able to sleep again.

It is completely normal to get buyer’s remorse though, don’t worry if you do. You almost get ‘cold feet’ but that is okay, just don’t get so scared you decide not to do it as it is normal. I know I did, I was worried I had made a mistake, however I found out that while I was waiting for possession I was building equity as prices were going up, and this was well before our big boom here. Normally this is what should occur. I think with my excitement and not sleeping was also partially worry, but my first night there I knew it was right.

I think one of the biggest reasons I am in real estate is for the highs; and new home buyers’ excitement is contagious and definitely constitutes the highs of the job. There are always lows, even with new home buyers, but it is a big learning curve for them and as agents we have to remember how it feels and to have patience.

It is great to see people as young as 18 getting their foot on that first rung of the real estate ladder.

There are so many options now for people with good credit that it makes it easier and it just makes sense. In general it seems to be much easier for people to get mortgages and with all the options out there with all the different banks, I always advise my clients to shop around to get the best rate and the best option. Just like anything, it is always smart to get a second opinion so ask me if I have someone that might be able to help.

With young first time buyers usually come their parents, which I think is great. They are also usually proud to see their kids getting started in one of the safest investments out there. Some parents are a little over protective and I do have clients who feel the need to apologize, but I also have over protective but very well meaning parents, so I say bring them on! Don’t be afraid to bring them along once we find ‘the one’ for a second look. Be glad if they are there to help you spread your wings, it is a big step for them too and also emotional for them.

Just remember that all of the feelings are normal and not to hesitate to ask me or talk to me about what you are going through as I can help you out. And invite me to your housewarming so I can see how happy you are and the pride you feel!

As always please contact me if you have any questions!

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

Posted in Buyers, Saskatoon, Saskatoon Real Estate | No Comments »

To Clean Or Not To Clean

Monday, October 22nd, 2007

Do I really have to ask? Apparently, I do as courtesy seems to disappear sometimes. Recently I have handed over sets of keys to my buyers only to find the house a complete disaster. Dirty, garbage left behind, clearly not left in the condition my clients were hoping to see as they generally don’t have a lot of time to clean before the movers arrive. It is disappointing, but unfortunately it is not a rule that has to be follow, more common courtesy, but common courtesy seems to be lacking more and more these days. Our only hope was that whoever they bought their house from left them with a similar mess, but that negativity also has to stop as where does the ‘pay it backwards’ end? I asked my clients if they would ever leave their house like that, and of course they said no.

I believe it is my duty as an agent to ensure that my clients leave their houses how they would like to find their next house, but not everyone thinks the same way. I know from personal experience when you are moving and you are going to a new house that the last thing you want to do is go back to the old house to clean, but I feel it is only fair to do it. At the very least, go online and find someone who is advertising to make a bit of extra money or ask your friends to help you clean and offer to pay $10-$15/hour, it won’t take long as the house is already empty. If you are “done” with the old house, it is a really good idea to hire someone for a few hours. I am a big believer of karma and fairness and there is nothing worse than going to your new house that you have been waiting and anticipating and looking forward to just to have the excitement dampened by someone else’s ignorance and mess. So be kind, chances are you made a good amount of money on your house given the market we are in, spend a few extra dollars to give your buyers a good possession and a great welcome to their new home, after all, it is their new treasure!

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

Posted in Saskatoon Real Estate | No Comments »

Saskatoon Current Market – October 11, 2007

Friday, October 12th, 2007

As everyone who hasn’t been living under a rock knows, our market has recently gone crazy and house prices increased dramatically. We were in a ‘sellers market’, one like Saskatoon has never seen before. This gave sellers the upper hand and, as people had to find houses to live in, buyers couldn’t necessarily afford to be as prudent or as picky as in a normal ‘balanced’ market. This has leveled off for the time being, however our market hasn’t dropped. So fear not those who are skeptical and pessimistic, our market isn’t going in the dumps, we are reaching a ‘balanced market’ stage where there are enough new homes coming on the market on a daily basis that buyers can be picky again and not just buy the first house they saw (or, in the case of our boom, bid on just any old house).

Just as people were starting to wrap their heads around the whole ‘bidding process’ our market seems to have returned to a state of normalcy. While you still see the occasional bidding situation, it is no longer the norm. We are back to a FCFS (first come first serve) market that makes the buyers much happier as they don’t have to just take a stab in the dark at a price. They can generally bid lower than the asking price and there is the possibility of negotiating. If you are looking to buy a house in the near future, now might be the time as sellers are generally a bit antsy as they may not be as educated about the market as they should be. Their agent should explain to them what the market is doing, however people get a number in their head of what they want for a price and it may be totally unrealistic. They may be judging it on what their neighbour got for their house a few months ago and thinking they should get the same, but as bidding is almost phased out people KNOW what to offer, they don’t pull a number out of a hat and hope that someone else doesn’t bid higher than them (not having ANY idea how many people and for how much people are bidding)So congrats buyers, you are now back in the drivers seat (but don’t be too cocky, this isn’t always the case depending on what you are looking for, your agent should be able to advise you on competition, and if they can’t contact me!)

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

Posted in Current Market | No Comments »

Media – Fact or Fiction?

Friday, October 12th, 2007

You know that you shouldn’t always believe the media, right? That is a mere understatement! Recently in the news the media stated something to the effect that average house prices have decreased in the past month. This caused some people to get upset, worrying that they overpaid for their properties. This is probably not the case (although in the seller’s market we just experienced there are a lot of people who ‘bid’ more than the probably should have just to get a house).

What the media does not tell you is how people come about getting the ‘average house price in Saskatoon’. They do an average, taking all of the properties that sell in a period of time and tally up the gross property value and divide it by the quantity of homes sold. What is neglected to be taken into consideration is the TYPE of residential property sold. Consider this, in one month if 100 houses sell and 75 of those are big new houses in S1 and 25 of those are apartment style condos (still considered residential), the average is going to appear to be extremely high…but in the next month those numbers are reversed and there are more condos selling (which was definitely the case due to the insane shortage of student housing) and only 25 large houses, the average is going to appear to have decreased. In reality, the market has not gone up or down, but the media just caught the tailwind and found out an average price overall.

Moral of the story, don’t always believe what you hear in the news, but we all already knew that, right?

As far as the future of real estate in Saskatoon…well, if I could tell you that for certain and I had a crystal ball, I would have invested all my money a year ago and I would be retired! We all wish we had the answer to that, but keep in mind, Saskatoon has a LOT going for it as a City and a lot more going on around Saskatoon, so we don’t see a decline, but a steady incline however probably nothing like we saw in the spring. Real estate is generally a safe investment in a thriving city like ours.

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

Posted in News | No Comments »

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