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Tag : Real Estate

Top 5 Highlights Of The Saskatoon Real Estate Market From 2020

Tanya LaRose 0 comments 01.01.2021

  1. The 2nd Busiest Year Ever – Strictly speaking in terms of market
    data, 2020 has been the second most active year for Saskatoon residential real
    estate in the history of Saskatchewan MLS®.
  2. June Explosion – While the pandemic caused an
    audible pause at the end of the first quarter in the 2019 real estate industry,
    much like most other industries, the market activity had a huge explosion
    starting at the beginning of June. The activity far exceeded that from the
    following year, and each following month after June in 2020 continued with the
    same acceleration.
  3. Sharp Market Shift – Over the past several years in
    residential real estate, Saskatoon has been in an extreme Buyer’s Market
    with seemingly no end in sight. Of course, no one saw the pandemic coming which
    resulted in a sharp shift to an extreme Seller’s Market. Typically, this
    kind of Market Shift happens very slowly over numerous years, so the industry
    is doing its best to keep up but over the past few months demand has exceeded
    supply.
  4. Golden Houses – It should be noted that the conditions
    of this Seller’s Market are most applicable to houses, also known as Single
    Family Dwellings. The condominium inventory is not moving quite as quickly
    as a house under 500k. Theoretically speaking, if these trends continue into
    2021, it would be the ideal time to downsize. A homeowner could capitalize on
    selling for top dollar for their home (if advised properly in sale preparations
    by their REALTOR®) and possibly get a great deal on a
    condo. It would also be an opportune time for parents to invest in a condo for
    their children who are going to post-secondary school.
  5. Cabin Fever – Fascinatingly enough, the Market
    Shift is a result of two primary factors: low mortgage rates and, for lack of a
    better term, cabin fever. Homeowners who are confined to their own home for
    months on end have proven to get restless enough to either renovate their
    current home (i.e. lumber and other home products shortage) or move into a
    different home simply for the sake of a change in setting.    

If you
are thinking about selling your home in 2021, contact Tanya LaRose at 306-380-7325
for assistance in the most successful sale possible.

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5 Ways To Use Christmas To Help Sell Your Home

Tanya LaRose 0 comments 01.12.2020

  1. Consider Your Street – If everyone on your block lights up the exterior of their home, you may want to consider matching that level of cheer. A first impression as “The Grinch” might not bode well during showings, drive-by's, and/or open houses.
  2. Keep It Real – Although considered “high-maintenance”, a real tree appeals to two sense: sight and smell. Two important aspect of successfully selling a home. The warmth psychologically triggered by a real Christmas tree is worth every effort to keep the tree alive over the holiday season.
  3. Keep It Classic – The overall theme you set for both exterior and interior decorations should be classic. Classic colours like red, white, and green or gold. No new holiday characters that anyone over the age of 30 will not recognize. Simply put, think “Miracle On 34th Street” for décor inspiration.
  4. Sending Out Christmas Cards – If you are a savvy Christmas card sender, you can always note a reminder to your family and friends that you are trying to sell your house. Family and friends are great networks to tap into for potential buyers that you normally would not have access to.
  5. Depersonalize Decorations – Just like every other day of the year, decoration should always be depersonalized in a home that is listed for sale. No names on the stockings or personalized tree ornaments. Ultimately we want to keep family photographs to a minimum, heavy religious symbol lessened, and any potentially offensive décor removed.

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10 Things To Do In The First Year After Buying Your Home

Tanya LaRose 0 comments 01.09.2020

  1. Walk-Through – First and foremost, you will complete the walk-through on the very first day of owning your home. It is during this time that you will ensure that the home has everything you were promised during negotiation and no new damage is found on the property. You can also take this time to ask your REALTOR® any last-minute questions.
  2. Change All Locks – Most homebuyers will change the locks as soon as they take possession of a home because there is no guarantee that more original keys are not in circulation. While you are at it, you can install a keyless entry for added convenience. Or you can call a security company to review other home security options such as alarms and video surveillance.
  3. Update Your Information – You should have already updated the appropriate entities for heat, water, and power by the time you take possession of the home. Swing by a local insurance company and update the address on your Driver’s License, among your other major ID suppliers. Do not forget to redirect your mail too! Canada Post offers some impromptu options for that at https://www.canadapost.ca/cpc/en/personal/receiving/manage-mail/mail-forwarding.page
  4. Check Electrical Outlets – Most home inspectors will check this, but if you did not get a home inspection you will want to make sure all electrical outlets are grounded. Grounded electrical outlets will prevent painful electrocution or even death if you were to somehow drop a hairdryer into your bathtub. You can either call an electrician to check this for you or you can go to your local hardware store for an Electrical Test Kit. The big box stores sell them for around $30 as shown here https://www.homedepot.ca/product/klein-tools-electrical-test-kit/1001411954.
  5. Verify Air Quality – Make sure you have smoke detectors on every floor of your home and that the batteries are all functioning. You will also want to verify the presence of carbon monoxide detectors throughout and test their functionality as well. Lastly, and often overlooked, take the time to pick up a radon test. It is estimated that radon kills around 3,000 Canadians a year. Radon test kits are typically user friendly and about $50 to purchase at https://radonkit.ca/.
  6. Furnace Health – If a major season change just took place, you will want to book a duct cleaning. The furnace can be serviced at this time as well. It typically costs a few hundred dollars but will substantially add to the lifespan of your furnace. Look at the furnace filter too and pick up a few of those as you will want to replace them every three months, give or take, depending on the amount of people and pets in your home.
  7. Emergency Contacts – You are now in charge of an entire house so that means you need to know who to call in case of an emergency. Local plumbers, electricians, emergency restoration services, the fire department, etc. should all be in an easy-to-find location.
  8. Emergency Kit – In case of natural disasters, or even just a power outage, you will want to ensure your family is safe and comfortable. Create your own emergency kit with items like the following: flashlights, fire distinguisher, portable heater, cash, water and non-perishable food. https://www.businessinsider.com/home-emergency-kit-products#:~:text=15%20items%20everyone%20should%20have%20in%20their%20at-home,roll%20of%20heavy-duty%20duct%20tape.%20More%20items...%20
  9. Inspect Your Homes Exterior – Especially with the extreme seasons Canada has, the inspection could potentially save money and problems in the future. Look at the condition of the shingles, the cleanliness of the gutters, the quality of the windows, and any abnormal holes in the house. A proper inspection can save you money on heating in the winter, while proper shingles and clean gutters will prevent water damage in the spring. Take care of those pesky holes too which allow for pesky pests in the house!
  10. Create A Tradition – Many people create “New Home Traditions” and it adds to the special experience of really making the house your own. Whether it is hosting a housewarming party or everyone in the family choosing a paint color for their room, the comfort level in the home increases. Often if the property is extremely old, the homeowners will also take the time to burn sage in the home, have a pastor visit to pray over the home, or have an energy clearing of the home. The first year in your new home can be overwhelming so your new home tradition something meaningful and ceremonial. For example: http://www.housewarmingblessing.com/celebrities-smudge-with-sage/

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COVID-19 Safety Precautions: Home Buyers & Home Sellers Edition

Tanya LaRose 0 comments 01.05.2020

HOME BUYERS

Home Buyer Strategizing – It is more important that now
than ever to be strategic with your real estate goals and going about them any
way less is foolish. Take the right first step and begin your home buying
journey with a Home Buying Counseling session with Tanya LaRose, REALTOR®.
You will find out exactly what you are looking for, how to get it, and what to expect
along the way.   

Efficient Showing Selection – It is a very dangerous
time to be the looky loo so if you have a tendency to do this, please share it with
your REALTOR®
and they can help you remain focused. Many more media mediums are being incorporated
into listings now so you can view much of the home virtually. When you have selected
homes that require a closer look, ensure they have much of the criteria you are
looking for and therefore are genuinely attractive before you ask your REALTOR®
to schedule the showing.

Perfect Your Finances – The Bank of Canada is taking
strides to strengthen the economy by dropping mortgage rate substantially. Take
advantage of this by asking your mortgage specialist to lock in a rate so your monthly
payments are as low as possible. A mortgage rate can be locked in for up to
three months! Many lenders are also extra meticulous with each files completion
so make sure you have all of your ducks in a row when preparing with your
mortgage broker.    

Protect Yourself During Showings – Gloves, mask, and
hand sanitizer are all tools that you can use to protect yourself and others
during showings. You will also want to avoid touching anything in the home that
you do not need to during the showing. Many homeowners will leave the lights on
and interior doors open for you before they leave and close everything back down
when they return so you do not have to touch anything.

Buyer Client Waiver – The Saskatchewan REALTORS® Association
has taken the initiative to compose a COVID-19 Buyer Client Waiver to do our
part in reducing the spread of the virus. It is a short document that will make
up part of the precautions being practiced by your local real estate industry as
an essential service, in addition to our basic responsibility to humanity.

HOME SELLERS

No Open Houses – The Saskatchewan REALTORS® Association
set national precedent by banning all open houses, therefore it is not optional
to host any open houses for the public or REALTORS®.

Leased Revenue Properties – Remember that currently
the Office of Residential Tenancies (Rentalsman) is not issuing eviction notices
so if you accept an offer outlining possession of a vacant home, you are
accepting a very risky liability.

Tenants During Showings – If you do have a trusted
relationship with your tenants and you proceed with putting your property on
the market, specify with your tenant that they will need to vacate the home
during all showings. Tenants staying home during showings was always frowned
upon but is now unacceptable with the current health concerns as a potential
buyer may refuse to enter the home at all with a tenant present.

Preparing Your Home Before Showings – Before you
leave your home for a scheduled showing, be sure to leave all the lights on,
with all interior doors open, so the contact required by the potential buyer is
minimal. If possible, but not mandatory, you will also want to leave the home for
a extended time period beyond what was scheduled.

Seller Client Waiver – The Saskatchewan REALTORS® Association
has taken the initiative to compose a COVID-19 Seller Client Waiver to do our
part in reducing the spread of the virus. It is a short document that will make
up part of the precautions being practiced by your local real estate industry as
an essential service, in addition to our basic responsibility to humanity.

For more safety precautions and best practices, please contact Tanya LaRose at 306-380-7325 to further discuss details on how you can safely and successfully proceed with your 2020 real estate goals.

The 7 Most Common Items Needed For Your Mortgage Pre-Approval Appointment

Tanya LaRose 0 comments 02.03.2020

  1. Government Issued Photo ID – Ensure it is not expired and has your current address.
  2. Proof Of Address – You may need your address history, depending on your current living circumstances.
  3. Proof Of Income – T4, pay stubs, child tax, etc.
  4. Contact Information For Your Employer – A longstanding employer is always best but your employment history might be required.
  5. Proof Of Down Payment – It should reflect the exact amount and where it came from (gifts are allowed as well).
  6. Any Outstanding Current Debt – You will need to include all financial obligations and anything that may have damaged/ing your credit.
  7. Proof Of Assets – Other real estate, savings, vehicles, investments, etc.

Disclaimer: Mortgage pre-approvals vary from person-to-person and financial institution-to-financial institution so other items may be needed. It is also important to note that you may get a rejection from one mortgage specialist and an approval from another. Call or text Tanya LaRose at 306-380-7325 for a highly-skilled mortgage specialist contact.

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7 Ways To Control Your Emotions In Order To Successfully Sell Your Home

Tanya LaRose 0 comments 03.02.2020

Selling your home can be a very emotional time in life. Hundreds, and sometimes thousands, of days spent in your home can inevitably build a complex emotional bond that can be difficult to identify and even more difficult to break. Here are some tips on how to get ahead of your emotions so you can successfully get a sold sign on your lawn:

  1. Journal – Buy a $2.00 notebook and dedicate it entirely to your home selling journey. It will allow you to organize your thoughts, reflect upon your progress, and document your successes for the next time you have to sell a home. Not a fan of writing? Start a vlog and post it to YouTube, you may be able to help others facing the same task.
  2. Set Your Intentions – Identify the reason you are selling your home and commit to it as a positive experience. Perhaps you have an incredible new job opportunity that requires you to relocate or you are expecting a new baby and need more bedrooms. Setting the intention for selling your home will provide the fuel required to continue with sale of your home regardless of any obstacles that may arise during the interim.
  3. Keep Yourself Accountable – If you find yourself feeling discouraged often, with a delayed sale or negative feedback from a showing, confide in your real estate agent and use them as a touchstone for staying on track in achieving your goals.
  4. Visualize Your Home As A Stock – Real estate is one of the most popular types of investments in the world, and much like stocks, the value goes up and down. The most successful stock investors buy low and sell high, according to the larger financial situation. Reflect upon your financial situation and remember that sometimes you need to take risks for long-term diversification.
  5. Focus Your Emotions On The Next Home – Distract yourself from your emotional ties to the past and embrace the potential in your next home. How can it better accommodate your new life circumstances? What kind of house warming party can you welcome your friends and family with? Where are the nearest walking-trails for you to explore your new neighborhood?
  6. Objectify Your Home – Think of your home from the perception of a consumer. For example, a product on a grocery store shelf must be presented nicely, priced correctly, and be in front of the right buyer to get sold. It is easier to not allow hurt feelings to influence a potential sale, if a few buyers pass without being attracted to your home, if you think of it from the perception of a consumer who has a variety of variable needs.
  7. Remember Memories Do Not Equal Value – The daughter may have had all of her birthday parties in your kitchen and then went on to get married in your beautifully landscaped backyard but that does not mean the price tag increases by $20,000 more than your neighbour’s house which is almost the exact replica of your home.

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The First-Time Home Buyer Incentive Cheat Sheet

Tanya LaRose 0 comments 02.09.2019

All outlined details are accurate as of September 2nd, 2019:

  • Available across Canada starting September 2nd, 2019 until March 31st, 2024 -OR- when the 1.25 billion dollars allocated for this program has been depleted.
  • “The Incentive” is a Shared Equity Mortgage Loan.
  • The Government of Canada will share in the upside and downside of the property value upon repayment.
  • Canadian citizens, permanent residents, and non-permanent residents may apply.
  • The property must be in Canada, available for full-time occupancy, with 1-4 units.
  • Applicants must have a total household income less than $120,000 to qualify.
  • Your total borrowing limit is up to four times the qualifying limit ($480,000)
  • Your down payment + incentive is less than 20% of the property value.
  • At least one applicant must be a first-time homebuyer, defined as the following:
  • Never purchased a home before
  • You recently experienced a breakdown of marriage or common-law
  • You have not occupied your “family home” in the last four years
  • “The incentive” is a second mortgage on title. There is no principal payment, no interest, and it has a maximum term of 25 years.
  • It may be switched to a different financial institution without having to repay “the incentive”.
  • No prepayment penalties. Repayment can be made on the sale of the property, at the end of the 25 year term, or at any time through voluntary repayment of the full incentive amount (no partial payments).

If you have additional questions, please contact your trust mortgage expert. For assistance in procuring your home, please contact Tanya LaRose at 306-380-7325 to begin the home buying process.

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The Homeowners Top 5 Priorities for Fall Home Maintenance

Tanya LaRose 0 comments 01.10.2018

1. Roof – The frequent changing temperatures combined with ice, rain, snow, and wind can wreak havoc on roofs. Prioritize replacing any missing and loose shingles. The roof is your first line of defense from any water damage internally extending to damage of electrical, plumbing, and HVAC systems.
2. Gutters – Ice dams are the product of clogged gutters. After leaves have fallen, clean out the gutters and downspouts followed by a good spray down of water to clear the passage way. After this, check for loose joints or brackets and replace, if necessary.
3. Foundation – Basement flooding rates high on insurance premiums. Walk around your house and take a close look at the foundation. Caulk around the area where masonry meets siding, where pipes or wires enter the house, and around windows and door frames to prevent heat from escaping. If the parging is falling apart, you may want to have this redone if your budget allows.
4. HVAC – Proper heating and cooling amounts to 47% of energy costs in your home. Move your hand around the edges of windows and doors on a windy day, if you feel a breeze you will want to replace the weather stripping or add caulking.
5. Yard – Yard functionality during the winter is best to prepare for rather than scramble about during the first 20” snow fall. Ensure you have all of the summer tools stored away and all winter tools readily available (snow blower, shovel, etc.). You will also want to shut off outdoor water values, drain hoses, and blow out the sprinklers to prevent water from freezing, expanding, and breaking the pipes.

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5 Ways To Win Big In A Buyer’s Market

Tanya LaRose 0 comments 01.08.2017

  1. Be Prepared – Attractive buyer’s hold the most power in any real estate transaction. These ideal buyer’s are pre-approved for a mortgage and have no other home to sell or have an accepted offer on their current home. By preparing accordingly, it increases your chances of getting the property you want on the terms you want.
  2. Be Watchful – Even in a down market, nice homes that are priced well do not last long. Your real estate agent can connect you to the MLS® system so that you will automatically receive new listings within a desired criteria. Receiving this information in real time will give you an upper hand over other competing buyer’s not utilizing an agent or this service. Combine this with a readily available real estate agent and you will secure your new home in no time!
  3. Be Informed – Before deciding on an amount to offer, you will want to know what other similar properties in the area have sold for so you are not overpaying. Real estate agents have such statistics at their fingertips, so be sure you discuss fair market value with your agent before submitting an offer.
  4. Be Strategic – Once you have found the property you would like to further pursue, find out how long it has been on the market and how many times it has been listed without selling in the last couple of years. This information is easily accessible to your real estate agent and is vital in negotiations.
  5. Be Creative – There is more than one way to increase monetary value in your real estate purchase than through price alone. If you are buying a house and the seller will not budge on price, your real estate agent can negotiate other inclusions such as a replacing old windows, re-shingling a roof, or improving another feature unique to the house. The implications of this negotiating technique can be tricky, so you will need to work closely with your real estate agent on this one.

For more information on how to successfully maneuver in a buyer’s market, contact Tanya LaRose with RE/MAX Saskatoon at 306-380-7325.

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How To Support Local Business

Tanya LaRose 0 comments 12.07.2016

The foundation of any successful local business can be attributed to the support it receives from the community. I have never paid for reviews or testimonials, and do not pressure my clients into providing such. However, I stumbled across a letter of recommendation that I was absolutely elated to receive. It was a great form of support and a reminder that hard work does not go unnoticed.

"The Whitecap Development Corporation believes in developing partnerships that bring skill and experience to task for successful projects. In 2015, based on demonstrated professionalism and skill-set, the real estate services of licensed REALTOR® Tanya LaRose were requested for a project. Upon request, Tanya promptly completed a Market Appraisal for the property and discussed effective pricing to maximize value while still attracting potential buyers. In a matter of days, the property was on MLS® and receiving inquiries. As our representation, she created and implemented a marketing strategy specific to the type of location of the property. During the sale process, we received consistent market updates, detailed feedback from each showing, and advice on how to improve showing quality accordingly. The property was initially vacant, but Tanya took the initiative to stage it with furniture to attract more buyers. Two weeks after staging, an offer was received, promptly delivered for decision, and ultimately accepted. Overall, the services provided proved to be calculated and effective. The Whitecap Development Corporation welcomes positive business relationships with entities practicing a high standard of service such as that provided by Tanya LaRose."

To the Whitecap Development Corporation, and all of my other past, present and future clients – THANK YOU.

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