Henry Moulin ABR, CRES

Saskatoon, SK | 306-221-9221 | henry@saskatoonrealestate.com

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It is always a scary prospect to decide on purchasing a home, either by yourself or with your family. A question that always pops into one’s mind, however, is if they are ready to take such a huge step in their life. Buying a home is definitely something that needs to be thought about and not something done on a whim. Here are a few steps to help you determine if you are ready to begin searching for your new home:
 

1. You are Debt Free

 

When you are debt free, you are definitely ready to purchase a home as you won’t have any other debts to worry about besides your monthly mortgage, which by itself can seem like a massive task. You need to do some major number crunching and determine how much of your income can go towards your mortgage. If it seems like most of your monthly income is going towards paying down your auto loans, student loans and/or credit card debt, now might not be the best time to purchase a home.


2. You can Afford a Down Payment

If you have never bought a house before, you may be wondering what a down payment actually is. A down payment is a percentage of the total cost of the house that you want to purchase, that is paid upfront. This is the biggest challenge most first time home buyers face when looking to purchase a home. You may now by wondering how much this down payment will cost. This amount is usually between $3,000 - $5,000, but the bigger down payment you make, the better it is for you. It can be recommended to you to make a 20% down payment, which may seem impossible. But keep in mind, however, that this is the most ideal down payment as it will help to keep your monthly mortgage check low and manageable. This can greatly benefit you as it shows your mortgage lenders that you have the great ability to save a nice amount of money and that you are serious.


3. The 5 Year Rule


Something to also keep in mind is the knowledge that you want to stay in the same place for at least the next five years. This long-term commitment is really good as it helps to build equity. Equity is the difference between what the appraised value of your home really is, and the balance that it left to be paid for your mortgage. Keep in mind mortgage amortization though, which is how mortgage payments are actually calculated: how much actually goes towards paying off the principle amount and how much goes into paying interest. It is quite depressing to get back the numbers and realize how much of your starting payments go into just paying off interest, but eventually your payments will pay off more of the principle then the interest. Owning a house for five years will help you develop enough equity to sell the house for a profit, which can be used for a bigger down deposit for your next house.

 

4. Emergency Funds

 

Life has its ups and downs, and you need to always be prepared for any kind of setbacks, especially when dealing with financing. A great way to know if you are ready to purchase a home is that you have an emergency fund that can be dipped into in case of an emergency, such as a layoff, car repairs, medical bills etc. It is always a good idea to build yourself a safety net before purchasing a home, such as having six months’ income in a savings account. Keep in mind that this emergency money is to be kept separate from your down payment.


5. You can Afford Associated Fees

 

When purchasing a home, make sure to always keep in the back of your mind that you won’t just be buying the sticker price of the home. There are always several costs that are associated when purchasing a home, and you may not even be aware of some. It would be a really good idea to sit down with your realtor and find out what some of these extra costs could be. Home inspections, closing costs, moving costs, property taxes, home insurance, monthly utility bills, homeowner’s association fees, as well as maintenance, furnishing and any renovation expenses, these are all costs that some new home buyers can overlook that they really shouldn’t. 

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Positive Start to 2017 Home Sales

Home sales in January were cause for optimism for the year ahead with a 6% increase year over year. Home sales of 185 units last month represented the highest January total since 2014, the five-year average for January is 195. Another positive indicator is the number of homes available for sale. At the end of January, there was a combined total of 1,592 homes for sale in the Saskatoon market, representing the second lowest monthly total in almost two years. The lowest inventory level was December of 2016 with a total of 1,443 properties on the market. “An increase in sales in a typically quiet month is very encouraging” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® “especially in the wake of the tougher mortgage qualifications introduced last October.”

At current inventory levels, anticipating no increase in demand and no new properties listed for sale, it would take over eight months to liquidate the current inventory of properties. The five-year average for available inventory in the Saskatoon market is just under five months. The “sales to listing ratio” is an indicator of whether we are in a buyers or sellers’ market. It is determined by dividing the number of sales by the number of new listings for a period of time. When this ratio is at 50%, the market is considered balance. The last couple of years has favored buyers in the marketplace with an average sales to listing ratio of 40%. January typically has an uptake of listing activity and quieter sales activity which is reflected in a sales to listing ratio at 26%; the five-year average is 30%.

Homes priced below $400,000 saw a much-needed increase in activity compared to last January with 143 sales between $200,000 and $400,000, a 20% increase year over year. The average sale price for January of $341,800 represented a 4% decrease compared to last year. In 2016 a steady number of sales over $750,000 helped stabilize the average price in spite of a 5% decline in sales. This emphasizes that using an average to determine the true market picture is easily misleading. The median price for last month was $318,500 which was the lowest median price in almost five years. A more reliable indicator of the market is the MLS® Home Price Index® (HPI). It is considered to be the most accurate determinant of where a real estate market is trending. The HPI composite benchmark price has also been trending downward, although very slightly for several months. 

In January, on average it takes 54 days to sell a home in Saskatoon which is consistent with the five-year average of 51 days. This compares to 45 days which is the average of the past 5 years. “In any market, a home that is priced to current market conditions should sell in even less time, often within a week or two.” comments Yochim. “Buyers are well educated on the market and are not fooled by optimistic sellers. However, they are willing to pay market price for the right home in any market. For homes that are selling, the sale prices are being realized within 97% of the asking price.”

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Friday, February 24, 2017

U of S Huskies Volleyball VS Tru Wolfpack

Physical Activity Complex – 87 Campus Drive

Time: Women- 6:00 pm, Men- 8:00 pm

Price: Adult - $13.00 Youth - $7.00

Website: huskies.usask.ca

 

Saskatoon Blades VS Prince Albert Raiders

SaskTel Centre – 101-3515 Thatcher Ave

Time: Starting at 7:05 pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

Joey Landreth

The Bassment – B3 202-4th Ave N

Time: 8:00 pm

Website: thebassment.ca

 

Saturday, February 25th, 2017

U of S Huskies Volleyball VS Tru Wolfpack

Physical Activity Complex – 87 Campus Drive

Time: Women- 6:00 pm, Men- 8:00 pm

Price: Adult - $13.00 Youth - $7.00

Website: huskies.usask.ca

 

SSO Presents Sibelius Symphony No.5

TCU Place – 35 -22nd St E

Time: 7:30 pm

Price: $15.00 - $66.00

Website: saskatoonsymphony.org/event/sibelius-symphony-5/

 

Saskatchewan Rush VS Calgary Roughnecks

SaskTel Centre – 101-3515 Thatcher Ave

Time: Starting at 7:30 pm

Price: $25.00 - $69.00

Website: www.saskrush.com

 

Mardi Gras

St. Anne’s Parish Hall – 217 Lenore Drive

Time: Cocktails start at 6:30 pm

Price: $75.00 ($50.00 tax receipt)

Website:  saintannes.ca/mardi-gras-saturday-february-25th

 

Sunday, February 26th, 2017

Saskatoon Blades VS Moose Jaw Warriors

SaskTel Centre – 101-3515 Thatcher Ave

Time: Starting at 4:05 pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

Mid Winter Arts and Craft Sale

German Cultural Centre – 160 Cartwright St E

Time: 10:00 am – 4:00 pm

Price: Free

Website: saskgerman.com

 

 

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Friday, February 17th, 2017

Culture in the Kitchen – Germany Meets Vietnam

Marion M. Graham Collegiate – 602 Lenore Drive

Time: 6:30 pm – 9:30 pm

Price: $20.00 per person

Website: www.saskgermancouncil.org/

 

Saturday, February 18th, 2017

Saskatchewan Rush VS Colorado Mammoth

SaskTel Centre – 101-3515 Thatcher Ave

Time: Starting at 7:30 pm

Price: $25.00 - $69.00

Website: www.saskrush.com

 

Monday, February 20th, 2017

Measha Brueggergosman Presents Songs of Freedom

Broadway Theatre – 715 Broadway Ave

Time: 7:30 pm

Website: broadwaytheatre.ca

 

Ongoing

February 16th – 19th, 2017

Saskatchewan Equine Expo

Prairieland Park – 503 Ruth Street W

Time: 9:00 am – 9:00 pm

Website: www.saskatchewanequineexpo.com

 

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Friday, February 10th, 2017

Saskatoon Blades VS Moose Jaw Warriors

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

U of S Huskies Volleyball VS Calgary Dinos

Physical Activity Complex – 87 Campus Drive

Time: Women – 6:00 pm, Men – 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Women’s Hockey VS Lethbridge Pronghorns

Rutherford Rink – 69 Campus Drive

Time: Starting at 7:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Saturday, February 11th, 2017

Ballet in the Studio Performance – Canada’s Ballet Jorgen

The DSI Centre – 205A Pacific Ave

Time: 7:30 pm – 9:00 pm

Price: Student - $15.00, General - $20.00

Website: www.balletjorgencanada.ca/index.cfm?pagepath=Events_Calendar/BITS_Saskatoon&id=79668

 

Crossmount Princess Ball

The Glen at Crossmount - #10 Glen Road

Time: 4:00 pm – 8:00 pm

Price: $100 for 1 child and 1 adult

Website: theglenatcrossmount.ca/program/princessball/

 

Saskatoon Blades VS Brandon Wheat Kings

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

U of S Huskies Volleyball VS Calgary Dinos

Physical Activity Complex – 87 Campus Drive

Time: Women – 6:00 pm, Men – 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Women’s Hockey VS Lethbridge Pronghorns

Rutherford Rink – 69 Campus Drive

Time: Starting at 7:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Valentine Extravaganza – Team Diabetes Fundraiser

St. Patrick’s Parish Centre – 3339 Centennial Drive

Time: 10:00 am – 4:00 pm

Price: $10.00

 

Monday, February 13th, 2017

Warm Your Heart for Diabetes!

Boffins Public House – Innovation Place 106 – 111

Time: 5:30 pm

Price: $100

Website: diabetes.ca

 

Tuesday, February 14th, 2017

Valentine’s Wine and Appetizer Tasting

The Bassment – B3 202 4th Ave N

Time: Doors Open at 7:30pm, Tastings and Music 8:00 pm

Website: thebassment.ca/event/wine-appetizers-song/

 

Ongoing

February 10th – 11th, 2017

2017 Canada West Wrestling Championship

Education Gym – 58 Campus Drive

Time: All Day

Website: www.huskies.usask.ca

 

February 11th – 12th, 2017

Broadway in Love 3

The Bassment – B3 202 4th Ave N

Time: February 11th – 8:00 pm, February 12th – 2:00 pm

Price: $22.00 - $27.00

Website: https://apps.vendini.com/ticket-software.html?t=tix&e=79051ecefef8cb183fecd2ce0367ab73

 

February 11th – 12th, 2017

This is That Live!

Broadway Theatre – 715 Broadway Ave

Time: 8:00 pm

Website: broadwaytheatre.ca

 

 

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Friday, February 3rd, 2017

Saskatoon Blades VS Regina Pats

SaskTel Centre – 101-3515 Thatcher Ave

Time: Starting at 7:05 pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

U of S Huskies Basketball VS Alberta

Physical Activity Complex – 87 Campus Drive

Time: Women: 6:15 pm, Men: 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Men’s Hockey VS Manitoba Bisons

Rutherford Rink – 69 Campus Drive

Time: Starting at 7:00 pm

Price: $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Saturday, February 4th, 2017

Saskatoon Blades VS Red Deer Rebels

SaskTel Centre – 101-3515 Thatcher Ave

Time: Starting at 7:05 pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

U of S Huskies Basketball VS Alberta

Physical Activity Complex – 87 Campus Drive

Time: Women: 6:15 pm, Men: 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Men’s Hockey VS Manitoba Bisons

Rutherford Rink – 69 Campus Drive

Time: Starting at 7:00 pm

Price: $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Sunday, February 5th, 2017

Heritage Festival of Saskatoon

Western Development Museum – 2610 Lorne Ave

Time: 12:00 pm – 5:00 pm

Price: Free

Website: heritagefestivalofsaskatoon.com

 

Ongoing

January 28th – February 5th, 2017

Potashcorp Wintershines Festival

Saskatoon Farmers Market – 414 Ave B South

Price: Free

Website: potashcorpwintershines.ca/

 

February 1st – 4th, 2017

2017 Yonex Canadian Badminton National Championships

Riverside Badminton & Tennis Club – 645 Spadina Cres W

Time: 12:00 pm – 8:00 pm

Website: https://www.facebook.com/BadmintonNationals2017

 

 

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Accurate Pricing Key in Successful 2017 Market

Year over year unit sales for the city of Saskatoon saw a 7% decline in 2016. As at December 31, there was a total of 3,679 transactions recorded versus 3,933 in 2015. The total dollar volume for Saskatoon also indicated a 7% decline by years end. There was also a decline in the number of new listings in 2016 of 5% with 9,290 properties placed on the MLS system in Saskatoon last year. In other words, 38% of the homes that were listed ended up selling which is considered a firm buyers’ market. This ratio is what is referred to as a sales-to-listing ratio. A ‘balanced market’ is when one home sells for every two listed and is considered a balanced market at a 50% sales-to–listing ratio. The market for the month of December was in balanced territory with 191 sales and 392 new listings.

The market surrounding Saskatoon which includes the cities of Martensville and Warman saw a year end decline in unit sales by 11% with a total of 1,010 sales by December 31. The total number of new listings for 2016 in the markets outside of Saskatoon was 3,192, a sales-to-listing ration of just under 32%. The city of Martensville saw a 10% increase in unit sales in 2016 while Warman saw a whopping 35% decrease in units sold from 2015 to 2016. Other bedroom communities surrounding Saskatoon saw very little change in units sold year over year.

A home in Saskatoon took an average of 51 days to sell realizing 96.7% of the asking price on average. “There are buyers out there who are ready to act and are willing to pay market value.” Comments Jason Yochim, CEO, Saskatoon Region Association of REALTORS®, “What this tells me is that if a seller is serious about selling their home the best thing they can do is get sound advice on pricing to the current market we are in. The result is a quicker sale for the maximum sale price. Buyers are well educated and not often fooled into overpaying.” He adds.

The average selling price for a home in Saskatoon in 2016 was just over $350,000 which was only a decline of 1% compared to the average selling price of $354,000 in 2015. This average price was maintained by a year over year increase in the number of homes that sold over $750,000.

The MLS® Home Price Index® is considered to be the most accurate determinant of where a real estate market is trending. The composite benchmark value is an aggregate value of various property types and is used to compare changes in market values and trends. The composite benchmark value has been trending downward slightly since August of 2016. The composite value of $299,700 is down 1.6% from the same period in 2015 and looks to continue downward for the near future.

“2017 is not likely to see a significant change in market conditions, however being properly informed on what those market conditions are and how to properly price is where one of our REALTOR® members is invaluable” adds Yochim. “One of the best ways to stimulate an economy is through a home sale. The average home sale in Saskatchewan generates nearly $50,000 in spin off economic activity. Multiply that by 3,700 transactions.” He adds. REALTORS® also subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession.

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Friday, January 27th, 2017

Saskatchewan Rush VS Vancouver Stealth

SaskTel Centre – 101-3515 Thatcher Ave

Time: Starting 7:05 pm

Price: $25.00 - $69.00

Website: www.saskrush.com

 

U of S Huskies Basketball VS MRU Cougars

Physical Activity Complex – 87 Campus Drive

Time: Women – 6:15 pm, Men – 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Men’s Hockey VS Regina Cougars

Rutherford Rink – 69 Campus Drive

Time: Starting 7:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Saturday, January 28th, 2017

Great Canadian Kilt Skate Saskatoon

Cameco Meewasin Skating Rink

Time: 1:00 pm – 3:00 pm

Price: Free

Website: kiltskate.com/saskatoon-2017

 

Saskatoon Blades VS Lethbridge Hurricanes

SaskTel Centre – 101-3515 Thatcher Ave

Time: Starting 7:05 pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

SSO Presents Mozart Festival

TCU Place – 35-22nd Street E

Time: 7:30 pm

Price: $15.00 - $66.00

Website: saskatoonsymphony.org/event/mozart-festival/

 

U of S Huskies Basketball VS MRU Cougars

Physical Activity Complex – 87 Campus Drive

Time: Women – 6:15 pm, Men – 8:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

U of S Huskies Women’s Hockey VS Regina Cougars

Rutherford Rink – 69 Campus Drive

Time: Starting 7:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Monday, January 30th, 2017

Saskatoon Blades VS Regina Pats

SaskTel Centre – 101-3515 Thatcher Ave

Time: Starting 11:30 am

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

Ongoing:

January 27th – 29th, 2017

2017 Knights of Columbus Indoor Games

Saskatoon Field House – 2020 College Drive

Price: $10.00 Day Pass, $15.00 Weekend Pass

Website: www.kofcgames.ca

 

January 28th – February 5th, 2017

Potashcorp Wintershines Festival

Saskatoon Farmers Market – 414 Ave B South

Price: Free

Website: potashcorpwintershines.ca/

 

January 27th – 29th, 2017

2017 Canadian Junior Long Track Speed Skating Championship

Clarence Downey Speed Skating Oval – 11th Street & Ave R South in Gordon Howe Recreation Complex

Time: All Day

Website: www.speedskating.ca/events/lt-canadian-junior-championships-canada-cup-3-saskatoon-sk

 

 

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For Park's Canada 150 Anniversary, they are inviting everyone from around the world to come and help celebrate at their national treasures from coast to coast. 

 

Admission is free for all locations and they want everyone to join in on the celebration.

 

To order your free pass, click here:

 

What is Free:

 

  • Admission to all national parks, national historic sites, and national marine conservation areas operated by Parks Canada
  • Lockage at Parks Canada’s historic canals and waterways

What is not Free:

 

Although this year is special as its the 150th Anniversary, there are still some things that have the regular fees appllied. They are as follows: 

  • Camping, backcountry and other accommodations
  • Canadian Rockies Hot Springs
  • Mooring
  • Reservation fees
  • Guided tours and hikes and programs not usually included with admission
  • Firewood
  • Backcountry overnight use

For more information, go to Parks Canada

 

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The month of November saw a decline in sales activity as well as new listings coming on the market in Saskatoon and region. Total dollar volume year to date was $1.65 B, a 4% reduction from 2015 and 18% lower than the same period in 2014.The number of homes that sold in Saskatoon for November was 243 units representing a 14% reduction compared to November 2015. As of the end of last month there was a cumulative total of 3,489 home sales, this is 7% lower than a year ago. The number of homes listed for sale to the end of November 2016 was 8,897. Currently there are1,687 residential properties available for sale in Saskatoon, only the month of January had less product available with 1,612 units. At the current level of sales it would take nearly seven months to liquidate this inventory.

 

 The average selling price continues to remain virtually unchanged at just over $350,000. Two years ago the average selling price two years ago by comparison was $357,000, at a time when the market was more active. “An increase in sales in the higher end homes has helped to support the average price in the Saskatoon market” states Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. Sales in every price range below $750,000 saw decreases in unit sales however homes priced above that increased year over year. For sales over $1M there were 25 units sold year to date compared to 13 units a year ago. Homes in the price range between $750-800,000 were up 50% year to date over 2015.

 

 The current sales to listing ratio for November was 37% which is firmly a buyers’ market as it has been all year. Homes are currently taking 50 days on average to sell in Saskatoon with sellers realizing 97% of the asking price. “These statistics tell me that sellers who price to the market will realize a sale in much less time than the average of 50 days and close to their asking price. Those who do not price to market are typically responsible for the low sales to listing ratio.” Comments Yochim. “Buyers are more educated than at any other time and typically know where the market is at.

 There are positives in this quieter real estate market. The recent selling out of the much awaited River Landing condominium project in less than four days proves that location, location, location is key in any market conditions. This occurred in spite of an oversupplied condominium market with somewhere in the neighborhood of 1,000 multi-family units available for sale.

 

 “The best advice I can give to those who are needing to sell is to get sound pricing, marketing and timing advice from a professionally licensed and trained REALTOR® member of The Saskatoon Region Association of REALTORS®. Real estate is local to specific markets in Saskatoon and every seller’s situation is unique. Impartial and objective advice is critical in a successful sale of residential real estate.” cautions Yochim. REALTORS® also subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession.

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     JUST FOR FUN - ONE HUNDRED YEARS AGO ...

  • The average life expectancy for men was 47 years
  • Fuel for cars was only sold in drug stores
  • Only 14 percent of the homes had a bathtub
  • Only 8 percent of the homes had a telephone
  • The maximum speed limit in most cities was 10 mph
  • The five leading causes of death were Pneumonia, Influenza, Tuberculosis, Diarrhea, Heart Attack and Stroke
  • 2 out of every 10 adults could not read or write
  • Coffee was 15 cents a pound
  • Most women only washed their hair once a month.  Borax or egg yolks were used for shampoo
  • Sugar cost 4 cents a pound
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Friday, December 30th, 2016

Salute to Vienna New Year’s Concert

 

TCU Place – 35-22nd St E

Time: 7:30 – 10:00 pm

Price: $58.00 - $92.00

Website: https://tcutickets.ca

 

Saturday, December 31st, 2016

New Year’s Eve Celebration

 

Saskatoon Prairieland Park – 503 Ruth St

Time: 9:00 pm – 2:00 am

Website: www.saskatoonnewyears.com

 

A Very Vintage New Year’s Eve with Rose & The Riveters

 

Broadway Theatre – 715 Broadway Ave

Time: 8:00 – 11:00 pm

Price: $45.00

Website: https://broadwaytheatre.ca/events?p=event&event=3793

 

New Years in New Orleans

 

The Bassment – B3 202-4th Ave N

Time: 9:00 pm

Price: $55.00 for Members/ $65.00

Website: thebassment.ca/

 

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The month of November saw a decline in sales activity as well as new listings coming on the market in Saskatoon and region. Total dollar volume year to date was $1.65 B, a 4% reduction from 2015 and 18% lower than the same period in 2014.The number of homes that sold in Saskatoon for November was 243 units representing a 14% reduction compared to November 2015. As of the end of last month there was a cumulative total of 3,489 home sales, this is 7% lower than a year ago. The number of homes listed for sale to the end of November 2016 was 8,897. Currently there are1,687 residential properties available for sale in Saskatoon, only the month of January had less product available with 1,612 units. At the current level of sales it would take nearly seven months to liquidate this inventory.

 

The average selling price continues to remain virtually unchanged at just over $350,000. Two years ago the average selling price two years ago by comparison was $357,000, at a time when the market was more active. “An increase in sales in the higher end homes has helped to support the average price in the Saskatoon market” states Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. Sales in every price range below $750,000 saw decreases in unit sales however homes priced above that increased year over year. For sales over $1M there were 25 units sold year to date compared to 13 units a year ago. Homes in the price range between $750-800,000 were up 50% year to date over 2015.

 

The current sales to listing ratio for November was 37% which is firmly a buyers’ market as it has been all year. Homes are currently taking 50 days on average to sell in Saskatoon with sellers realizing 97% of the asking price. “These statistics tell me that sellers who price to the market will realize a sale in much less time than the average of 50 days and close to their asking price. Those who do not price to market are typically responsible for the low sales to listing ratio.” Comments Yochim. “Buyers are more educated than at any other time and typically know where the market is at.

 

There are positives in this quieter real estate market. The recent selling out of the much awaited River Landing condominium project in less than four days proves that location, location, location is key in any market conditions. This occurred in spite of an oversupplied condominium market with somewhere in the neighborhood of 1,000 multi-family units available for sale.

 

“The best advice I can give to those who are needing to sell is to get sound pricing, marketing and timing advice from a professionally licensed and trained REALTOR® member of The Saskatoon Region Association of REALTORS®. Real estate is local to specific markets in Saskatoon and every seller’s situation is unique. Impartial and objective advice is critical in a successful sale of residential real estate.” cautions Yochim. REALTORS® also subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession.

Read Full Story

Friday, November 25th, 2016

Saskatoon Blades VS Brandon Wheat Kings

 

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Website: www.saskatoonblades.com

 

U of S Huskies Volleyball VS Brandon Bobcats

 

Physical Activity Complex – 87 Campus Drive

Time: Women: 6:00 pm, Men: 8:00 pm

Website: huskies.usask.ca

 

U of S Huskies Women’s Hockey VS Manitoba Bisons

 

Rutherford Rink – 69 Campus Drive

Time: 5:00 pm

Website: huskies.usask.ca

 

Saturday, November 26th, 2016

Saskatoon Blades VS Medicine Hat Tigers

 

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Website: www.saskatoonblades.com

 

U of S Huskies Volleyball VS Brandon Bobcats

 

Physical Activity Complex – 87 Campus Drive

Time: Women: 6:00 pm, Men: 8:00 pm

Website: huskies.usask.ca

 

U of S Huskies Women’s Hockey VS Manitoba Bisons

 

Rutherford Rink – 69 Campus Drive

Time: 5:00 pm

Website: huskies.usask.ca

 

Gone Wild for Wildlife

 

Prairieland Park – 503 Ruth St W

Time: 10:00 am – 5:00 pm

Price: $5.00

Website: www.wrsos.org

 

Sunday, November 27th, 2016

 

Barra Macneils Christmas Tour 2016

 

Broadway Theatre – 715 Broadway Ave

Time: 7:30 pm

Website: broadwaytheatre.ca

 

A Victorian Sewing Circle at the Marr Residence

 

Marr Residence – 326 – 11th St E

Time: 1:00 pm – 4:00 pm

Price: Free

Website: themarr.ca/

 

Ongoing:

November 23rd – December 11th, 2016

A Christmas Carol

 

Persephone Theatre – 100 Spadina Cres E

Website: persephonetheatre.org/

 

November 20th - 26th, 2016

Festival of Trees

 

Western Development Museum – 2610 Lorne Ave

Time: 9:00 am – 9:00 pm

Admission: Adults $9, Seniors $8, Students $6.25, Children (6-12) $2.50, Preschool free, Family $20

Website: www.festival-of-trees.com

 

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It's that time again where the Forestry Farm opens its doors to the long line of cars so that they can drive through and look at all the gorgeous displays of lights that are placed throughout the farm!

 

From November 19th, 2016 to January 7th, 2017, the Saskatoon Forestry Farm will be lit up with amazing displays of lights that everyone will find a simple delight.

 

They are open from 5:30 pm - 10:00 pm every night until closing so make sure that you grab your spot in line so that you don't miss out on this year's extravagant sight. 

 

Bigger and brighter this year, featuring a new Nutcracker display, the Enchanted Forest is now open for its 18th season for this Christmas year, so be sure to fill up the car with your family and friends because you don't want to miss out.

 

Prices for entry are: $10.00 per person, or $33.00 per car that holds up to 7 people. 

 

If you feel like driving a car will make you miss out on some of these displays, be sure to come on down on January 8th, 2017 from 5:30 pm - 9:00 pm where you can walk through the displays for only $5.00 per person!

 

For more information on the Enchanted Forest, click here to go straight to the website.

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Just moved into a new house and don’t think the color of the walls match your furniture? Or are you just tired of looking at the same color in your living room that you’ve had for the past year? Time to bust out those paint rollers and dress in your oldest clothes to get this job done. But maybe money is a little tight right now, as the holidays are literally just around the corner. So here are 6 ways to get those walls painted without breaking the already broke bank:

 

1. Check Local Recycling Centers

 

Most recycling and hazardous waste centers accept old and unused paint cans from residents and businesses. Everyone knows that paint has a very long shelf life, so it’s common to find paint at these centers. Best of all, it’s free

 

2. Illuminate the Walls

 

Make sure to have plenty of sunlight or bring out your own lamps to shine on the walls so that you don’t miss any spots on the walls. It is always the worst to finish the job, clean up everything, only to learn a week later that you missed a few spots.

 

3. Use a Primer

 

Everyone should know to always use a primer before starting. Ladies know before painting their nails that they need to apply a base coat before painting on the actual color to save the nail. The same applies for walls. The primer will help the paint adhere to untreated surfaces, such as raw wood or unfinished drywall. Also helps if you’re dealing with either stained or rough surfaces that could need more than one coat.

 

4. Buy the Expensive Brand

 

Cheaper isn’t always better when it applies to paint. Cheap paint won’t shine as bright, look as smooth, and could always require more coats to achieve a finished look, which will add up that cost. Most high-quality paints, many which already include a primer in the mixture, can go on in one coat. These can cost more per can, but the job is complete with less paint and less time.

 

5. Don’t Rush for Color

 

It’s a known fact that there are some people will pick the first color they see to save time, while others will agonize over it for hours. Never rush on this. You will have to look at this color for a while, so it is always good to take your time, even collect some samples and see which would look best. Rushing into a color could result in having to repaint everything after it’s all finished because the mustard yellow you picked out, doesn’t exactly go with Grandma’s couch.

 

6. Read Up on Finishes

 

It is always a must to know about the 4 kinds of finishes you can use. These 4 are:

-        Flat: This finish is perfect for interior walls and ceilings.

-        Eggshell: This finish is great for living rooms, bedrooms, as well as dining rooms as its easy to wash and touch up.

-        Satin: This finish is insanely easy to clean, which makes it perfect for any high traffic areas in the house.

-        Semi-Gloss/Gloss: This finish should be mainly used for the trim, cabinets, kitchens, and bathrooms as it gives great coverage and its highly washable.

 

Following these tips can definitely help you save time, money, and any headaches along the way so that you can get that beautiful living room you have always wanted. Or any room for that matter. 

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Home sales in the Saskatoon market last month were up 8% over October of 2015. “This is a very positive change and speaks to consumer confidence in our market,” states Jason Yochim CEO with the Saskatoon Region Association of REALTORS®. Recent changes to lending rules by the federal finance minister were also a contributing factor in activity as buyers scrambled to beat the October 17th deadline when these changes came into effect. “Regardless of the factors leading to a sale, it is always good to see stronger sales activity.” he adds “every home sale contributes almost $50,000 of additional economic activity in the local economy.”

 

Strong sales in August and October of this year coupled with an overall decline in new listings has resulted in an 11% reduction in the inventory of active listings in Saskatoon. Active listings peaked at 2,047 units in June of this year and have declined steadily to 1,745 at the end of last month. This will have a positive impact in several areas. It will help maintain the average price as well as start to move the market in the direction of a seller’s market, although we’re not there yet. Total number of sales for Saskatoon year to date were 3,249 compared with 3,457 for the same period last year. The sales-to-listing ratio indicates whether we are in a buyer’s or seller’s market. It is determined by dividing the number of sales by the number of new listings for a period. A 50% ratio is considered balanced. Currently the market is at 42% which is a buyer’s market.

 

Another positive sign is the days of inventory which determines how long it would take to liquidate the current active listings at the current level of sales. Based on October’s numbers there is currently just over five and a half months of inventory. This is just slightly above the five-year average of five months. The overall dollar volume for the Saskatoon and surrounding market is only down 3% from last year and currently sits at just over $1.5 Billion dollars. Overall dollar volume has remained strong despite a 6% year to date reduction in sales. This is largely due to an increase in sales over $750,000. Year to date there were 51 units sold between $750-800,000 compared to 40 last year. Comparatively, sales were down 10% year to date for homes priced between $250-450,000. “There is no doubt that the recent federal change for homebuyers qualifying for a mortgage will further impact our market with an average price of $350,000” comments Yochim. “It has yet to be seen how much the impact will be.”

 

The good news for those selling is that sellers are realizing 97% of their asking price. Sellers who choose to list too high over the market are finding it difficult to obtain that sale. The closer the asking price is to market the tighter the offer will be to the list price.

 

Sound pricing and timing advice can be provided by one of the 640 professionally licensed and trained REALTOR® members of The Saskatoon Region Association of REALTORS®. REALTORS® also subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession.

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When moving, the garage is either the first thing you pack, or the last. The main reason is because the garage holds items that are either rarely used, boxes of old memorabilia, as well as tools used for the garden and inside the home. Here are 5 tips to help you pack up your garage and move easier and more efficiently:

 

  1. Have a Garage Sale

Now, having a garage sale comes with its own set of stress and patience and a lot of work. However, if you have the time and energy to hold a garage sale before you move, it is definitely recommended. Holding a garage sale allows you to get rid of all the old appliances, tools, clothing and trinkets that you no longer use. Doesn’t really make a lot of sense to simply move one packed box to another property where it will remain closed for years to come. A garage sale can help lighten your load, as well as put a little money in your pocket.

  1. Have the Right Supplies

It always happens when you’re in the grove of packing, covered in dust and sweat, when you learn that you have either run out of boxes or packing tape. Or, when you’re in the middle of moving, and the box your carting inside the house collapses, which just happens to hold your grandmother’s priceless glass dishes. It definitely helps to always over guess how many boxes you will need, as well as making sure that the bottom of each box is taped excessively to make it stable. Bubble wrap always helps a lot when dealing with glass items, but newspaper works just as well. Also make sure to always have moving blankets on hand as well for your larger pieces of furniture so there are no scratches.

  1. Know the Items That Cannot Be Moved

Many people should know that when moving, it is advised that there are some hazardous materials that shouldn’t be moved due to safety reasons. Items that are flammable that shouldn’t be moved and instead safely disposed of range from propane tanks, paints, gasoline, paint and paint thinner to pesticides, fertilizers and even some cleaning supplies.

  1. Packing Garage Items

Leave smaller hand tools in your tool box and close it securely. Make sure anything with a sharp blade is wrapped in either bubble wrap or newspaper to prevent any cuts. Bundle large garden tools such as rakes, shovels and brooms together with rope or tape to easily carry. Gas operated machinery must be emptied of their fuel before they are moved. Stack outdoor chairs and disassemble outdoor furniture to easily move.

  1. Labels

It’s a pretty daunting task when you finally have everything moved, and you choose to wait till the next day to tackle all those boxes. Except there is just one problem, you don’t know what is in any of the boxes. Make sure that while packing all those boxes, that you have a sharpie marker on hand to write on each of the boxes so you know the contents. This will make it easier for when you move so you know which boxes should be placed where.

 

Moving is always stressful, exhausting and takes a very long time to fully complete. It always helps to know how to tackle each room the easiest so that it can be finished quickly and as easily as possible. 

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Ever wonder what buyers think about first when they decide they want to buy a new house, or what you should want, first and foremost when purchasing your own home? One surprising factor is that the answer actually depends on what generation the buyer is born from. For more details, keep reading.

 

Millennials (Born 1982-2000s)

 

Price, price, price. Most Millennials are mainly just looking for a bargain on their home, whether its their first home or third. They usually next look to make sure that the house is close to a few certain areas, like the University of Saskatchewan, shopping districts as well as the bus stops. If this is their first home, however, it is quite likely that they will compromise on size and age of the house before the price, which could also help them in the long run by building up equity through renovations.

 

Generation X (Born 1965-1981)

 

Size. Most Generation X's have started a family, or have a growing family, so square feet is what stands out the most for them. Main focal points of the house that Generation X's will be looking at will be where the entire family can gather with ample room, such as the kitchen, living room, dining room, as well as the backyard. Next, they will see how close the home will be to any Elementary or High Schools their children can get to within walking distance. Generation X's tend to stay in their homes for quite a number of years, so they always compromise on price.

 

Baby Boomers (Born 1946-1964)

 

Family, and relaxation. Baby Boomers tend to move from their large family homes when the house is empty, to smaller condo's, that are near their families, with any price point. It could also be of some relief for the family to have their parents near, and have the care that could be needed in case of an emergency.

 

No matter what age the buyer is, they will always start their search online, check to see where the local amenities are, see if they like the neighborhood as well as making sure that the house is in good condition. Always remember that pictures are always a very important aspect on helping to sell the home as well. 

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For many the average sale price is used to benchmark where the market is at. Year to date statistics reinforce why that is not a sound practice. As of the end of September, a total of 2,936 unit sales were recorded, a 7% drop from the same period in 2015. By comparison, the average sale price of $351,835 remains virtually unchanged from one year ago. Furthermore, the average sale price for September 2016 was 6% higher than last September. The reason, an increase in the number of properties selling at the higher end of the price range coupled with a decline in more affordable home sales. More specifically, year to date the number of units selling between $300,000 and $500,000 declined by 12% while the number of units selling above $750,000 increased by 20%.

 

The Home Price Index (HPI) tool was created by the Canadian Real Estate Association (CREA) as a way to more accurately reflect changes in home pricing and predict pricing trends. The HPI uses a starting point of January of 2002 and establishes a “benchmark” value for a typical property type. This value is then indexed over time to reflect changes in the market. The composite benchmark value for a home in Saskatoon in January of 2002 was $115,000. Currently the composite benchmark price is $308,600. This index has changed very little since January when it was at $305,400. This would indicate little change in value over the first nine months of the year and has remained virtually unchanged since June.  New listings for September were down 20% compared to September of 2015. 

 

“A reduction in new listings has a positive impact on the overall inventory levels in Saskatoon which have been elevated since the spring of 2015”. comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. “Ideally we would like to see the number of active listings around 1,500 units” he adds. At the end of September, the number of active listings was 1,841, the five-year average is 1,625 units. The high water mark for active listings was 2,081 in June of 2015.

 

The number of sales for September was 324 units which is a 9% reduction from last year. Year to date the total unit sales was down 7% compared to 3,167 units a year ago. The average time to sell a home in Saskatoon is currently 51 days, the five-year average is 41 days. These homes have been selling for 97.4% of the asking price. “The key element in the sale of a property is proper pricing, buyers are more educated today than ever before,” adds Yochim. 

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Office: 306-933-0145

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Saskatoon,SK S7N 2E9

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