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.

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.

The First-Time Home Buyer Incentive Cheat Sheet

Tanya LaRose 0 comments 02.09.2019

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

• Available across Canada starting September 2^nd, 2019 until March 31^st, 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.

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.

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.