|
|
-
Saskatoon. May 1, 2012. The number of listings increased in April which is typical of the spring market. "Even though the Saskatoon market saw a 20% increase in the number of sales in April compared to April of 2011, a 15% increase in the number of listings year over year helped to keep the market in balanced territory", according to Jason Yochim, the Executive Officer of the Saskatoon Region Association of REALTORS® (SRAR). The sales to listing ratio is a good indicator of the balance between buyers and sellers. A current ratio of 56% indicates that slightly more than one out of two houses listed are selling. "By comparison, at this same time in April of 2007 the sales to listing ratio was at 90% which helped fuel a significant increase in prices in Saskatoon." says Yochim. Year to date sales in the price range between $200,000 and $300,000 was down 3% compared to last year while sales in the $300,000 to $500,000 price range were up 34%. "There is still healthy activity over $300,000 with a good supply of product however the selection is tighter in the $250,000 to $350,000 range." The total residential volume year to date was $555,154,716.00, up 25% when compared to this time last year. In April the average price of a home in Saskatoon was $341,486.00 while the median price was $335,000.00. The average sale price is determined by dividing the total dollar volume of sales by the total number of units sold across the Saskatoon market while the Median price is determined using the mid-point of all sales listed. "It is important to remember that these numbers should not be applied to a specific style of home in a specific neighborhood. If a consumer is interested in data more specific to their situation it is advisable to contact a professional REALTOR® for an accurate determination of price" Yochim summarized.
|
-
|
Want more house for your money? Check out my new listing in Dundurn at 114 4th Street. Built in 1999. 3 bedrooms. 3 baths. 6 appliances. Big yard. Close to school. All for 229900 MLS (428317)
|
-
 City crews work in two shifts per day, seven days a week, weather permitting and barring mechanical delays, to complete sweeping of every street in the city in the spring. Major roadways are swept at night to avoid daytime traffic congestion, and street sweepers are equipped with lights and flashers to warn traffic of their presence. In addition, roadways are pre-wetted to reduce the creation of dust that may obscure visibility.
Residents will be notified of sweeping in their neighbourhood through door hangers distributed door-to-door about two days in advance. If poor weather delays the sweeping, a new date will be set at the end of the schedule to visit the missed area, and new door hangers will be delivered to affected residents. During neighbourhood sweeps, residents are asked to remove their parked vehicles from the street on the date indicated between 6:00 a.m. and 2:00 a.m. the following morning. Only specific sites that have excessive on-street parking, such as City Park, will have “no-parking” signs posted. If there are no signs indicating a parking ban, the crew will sweep around the vehicle. In areas where “no-parking” signs are posted, vehicles may be ticketed and towed to a nearby street where space is available. Later in June, a few days are assigned for crews to re-sweep streets in densely populated residential areas that have heavy on-street parking. These residential streets are given a second sweep because transient parked vehicles make it impossible to thoroughly clean them with just one pass. Where to move your vehicleMany residents have the convenience of a driveway or back lane to park their vehicles during street sweeping. For residents without these conveniences, it may be necessary to park some distance away from your home. The list below provides planned sweeping dates, and individual PDF maps for each neighbourhood. Please ensure your vehicle is not parked in any of the areas shown on the date scheduled for street sweeping. | | |
-->
|
-
Saskatoon April 2, 2012 "The Saskatoon market place experienced a 14% increase in the number of sales year to date when compared to the first quarter of 2011", reports Jason Yochim, the Executive Officer of the Saskatoon Region Association of REALTORS® (SRAR) today. At the same time the number of new listings was down 2% YTD when compared to 2011. "The total number of listings available in Saskatoon at the end of March was 1,053 a decrease of 66 units from the same time a year ago". "Sales in all price ranges were strong with the greatest activity occurring in homes priced over $350,000.00 where sales were up 140% YTD over 2011. Sales in the $450,000.00 to $500,000.00 price range increased 243% compared to last March." said Yochim. "The average year to date sale price in Saskatoon continues to rise, increasing by 9% to $318,946.00 while the median sale price was $309,900.00." The average sale price is determined by dividing the total dollar volume of sales by the total number of units sold and is an average across the market. Changes in the average sale price will vary depending on the specifics of a particular property such as style, condition, location and size. "In an active market like this it is advisable to contact a professional REALTOR® for an accurate determination of price" says Yochim. The market continues to remain in balanced territory in Saskatoon with a sales-to-listing ratio of 54%, according to Yochim, "Although the market is in balanced territory the strong demand for housing is putting upward pressure on pricing. This increase in the average sale price should remain in the 5 – 10% range as we approach spring when we traditionally see an increase in the number of listings", Yochim summarized.
|
-
Everyone knows that a professional home inspection can uncover previously unknown problems, both major and minor, allowing issues to be addressed before the sale is complete. But by taking some important steps to prepare the property for inspection, homeowners can avoid some basic problems that might otherwise affect a clean inspection report.
Disclosures are a key component of any real estate transaction. Past problems including fire or water damage should be noted in the disclosure documents. Homeowners need to have access to building permits and plans issued for any major renovations; proof that such changes were done legally is extremely important. If there was work done that lacked proper permits, this will need to be disclosed as well. Have invoices and warranties available for major improvements, roofing, furnaces, and major appliances.
Routine exterior maintenance is an easy way to keep up with minor problems before they escalate. Prior to inspection, repair any damaged masonry on steps and walkways, and seal cracks in the driveway. Not only will the home look better, but future problems can be prevented. Recaulk around exterior doors, windows, and flashing, and replace any missing or damaged shingles.
Inside the home, relatively minor fixes can improve the home inspection results. Repair leaky faucets and fixtures, and recaulk around tubs and sinks. An electrician should inspect receptacles and switches and make any needed repairs. Replace any cracked or broken window glass, and loosen any windows that are painted shut. If there is a fireplace, have it and the chimney cleaned and checked by a professional. If the home inspector can't see into the chimney because of soot buildup, they won't be able to inspect it and may need to return after it's cleaned.
Arrange service for the furnace and central air conditioning so that any issues can be addressed before the home inspection. If the home has battery-operated smoke detectors, install fresh batteries and install additional units if any are missing. Install carbon monoxide alarms if the home does not have them.
On the day of the home inspection, a few easy steps will facilitate the inspection process. First, allow sufficient time for the inspection. A professional home inspection will take two and a half to three hours on average, longer if the home is very large. Most homeowners choose not to be present for the inspection, though the potential buyer will usually want to be there. The homeowner will need to provide keys to any locked areas, and access to the attic, crawl space, storage sheds, the garage, and yard. Be sure that the inspector has access to components such as electrical panels, the water meter, and gas meter. Move objects from around the water heater, furnace, and central air conditioning unit so that the inspector can access them. In winter, clear walkways of snow and ice for safe access to the home.
Make arrangements for pets to be out of the home or in a crate for their own safety and that of the home inspector. Dogs in particular can be disruptive, and some may even be distressed by having an unfamiliar person in their "territory".
It is always a good idea to store small valuables and medications out of sight and in a secure location for your own peace of mind. One option is to simply take them with you when you leave the home during the inspection.
Taking these steps can go a long way in preventing or addressing problems that could negatively affect the inspection report. An inspection-ready home presents itself best for evaluation and makes the entire process go more smoothly. Thanks to Pillar to Post Saskatoon.
|
-
Saskatoon. March 1, 2012. "The real estate market in the Saskatoon area is showing no sign of slowing down", reports Jason Yochim, the Executive Officer of the Saskatoon Region Association of REALTORS® (SRAR) today. The year to date residential sales dollar volume of $180,802,565.00 is up a whopping 30% over 2011. "Buyers continued to be active in the market place with sales outpacing the number of new listings," said Yochim. "Unit sales year to date are up 21% while the number of units listed is up only 2%. This resulted in an increase of 7% in the average sale price to $313,893.00 compared with $292,510.00 last year" For the number of units sold year to date, there was a 41% increase in homes priced between $300,000.00 and $500,000.00. Properties located west of the river enjoyed the highest average sale price increase at 12%. Yochim concluded that Saskatoon continues to enjoy a balanced market with a sales to listing ratio of 52%, "This means that one out of every two homes listed are selling. However, if the number of sales continues to outpace new listings, we will lean more towards a sellers’ market". The economic growth coupled with a supply imbalance, will continue to mean this is a good time for homeowners to consider capturing more equity from their properties. "Now is definitely a good time to put your home up for sale", Yochim summarized.
|
-
CanEquity News Staff on February 21st, 2012 A recent report from the Canada Mortgage and Housing Corporation reveals the nation's growing housing market is due for a stabilization of prices, sales and new construction over the course of the next two years. The housing agency, which covers all of Canada, released its first quarter report for 2012 and projected long and short term industry expectations for individual cities and provinces including Toronto and Vancouver. "With the Canadian economy set to expand at a moderate pace and mortgage rates expected to remain low, activity levels in 2012 in both new home construction and sales of existing homes will stay close to levels seen in 2011," said Mathieu Laberge, deputy economist of the CMHC. CMHC remains active in the nation's housing industry, as it recently curbed mortgage insurance offerings to banks. Canadian mortgage rates continue to fluctuate and the federal housing agency is issuing a notice to banks and other mortgage lenders that it is closing in on the limit of insurance it can offer them, according to a recent report from CBC News.
Related posts:
|
-
2012 BEGINS WITH A SELLERS MARKET In 2012 we are starting out with a market that favors sellers. The number of residential properties listed in Saskatoon was 528 units, down only 1% from last January while the MLS® sales were up 20% to 310 units. This resulted in an increase in the average selling price of 6% to $318,163.00. There were a total of 951 active listings for January 2012 which was also down 1% from last January. The $300,000.00 to $349,999.00 price range recorded the most sales at 68 units, an increase of 51% from 45 units in January 2011. The highest average sale price of $377,757.00 remains in the neighborhoods on the far east side of Saskatoon which also has the most active listings and units sold. It is important to note that the average residential sale price is determined by taking the total month’s dollar volume and dividing that number by the total unit sales number from across the entire city of Saskatoon. The average sale price and percentage change should not be applied unilaterally as prices vary based on style of home, location and condition. Consumers wishing an accurate estimate of value for their home should contact a REALTOR® member to interpret sales data and provide a comparative market analysis tailored to their specific property. Activity was slower in the areas surrounding Saskatoon. There were only 185 residential properties listed compared to 213 properties in January 2011 for a decrease of 13%. The number of sales was down 26% from 57 to 42 units year over year. In spite of this quieter activity the average residential sales price in the areas surrounding Saskatoon was up 3% from last January to $279,171.00. The number of days to sell remained almost unchanged at 46 days within Saskatoon while listings in the area surrounding Saskatoon took 75 days on average to sell which is an increase of 25%. The area with the shortest time to sell continues to be the north end west of the river at 33 days on average. If the supply of product continues to remain consistent with last year and if the anticipated increase in demand occurs, our city will remain in a sellers’ market with buyers competing for their purchases. It is expected that Saskatoon will continue to buck the softening price and activity trend taking place across Canad
|
-
10-year mortgage is worth a look A 10-year mortgage offers security, peace of mind and a gap between five-year rates that makes it particularly attractive. Shutterstock/ShutterstockBy Kerri-Lynn McAllister | Sun Jan 29 2012
More than 90 per cent of Canadians with a mortgage take out a term of five years or less, and just 1 per cent opt for a term that is 10 years or more, according to the Canadian Association of Accredited Mortgage Professionals. But with 10-year mortgage rates at a record low of 3.79 per cent, it might be time to reconsider the long-term mortgage and buck the national trend. It offers security, peace of mind and a gap between five-year rates that makes it particularly attractive. Longer terms cost more because you’re getting that added security, and in the past, Canadians have been unwilling to pay. But with a mortgage price war pushing the five-year fixed mortgage to 2.99 per cent and the 10-year to just 3.79 per cent, the difference is just 0.8 per cent.
On a $250,000 mortgage the monthly difference between the two is around $100. That may be your price of a good night’s sleep. Two years ago, the spread was 1.5 per cent, which doubles the monthly difference to $200, or $2,400 per year. That’s why the 10-year mortgage is so much more attractive now. Here are four reasons to consider it: Small down payment: If you have a small down payment, you have a big mortgage. A 10-year term protects you from rising interest rates for twice the length of time as a five-year term. During the first five years of a high-ratio mortgage, most of the payments have traditionally gone towards interest. It's a better balance now, but if at the end of five years you’ve paid very little principal and rates are higher, you may not have much room to increase the amortization and maintain the same payment. A 10-year term offers that much more breathing room. Peace of mind: A 10-year term makes household financial planning and budgeting that much easier. This is particularly true for real estate investors who want to take the risk out of financing and budget cash flows. Smaller penalties: Many people avoid the 10-year mortgage because they don’t want to be locked in for such a long period of time. They are also afraid of the size of the penalty if they break it. But, you will actually pay a smaller penalty for breaking a 10-year mortgage in some cases, than if you break a five-year mortgage part way through. After the five-year mark in a 10-year term, you will only have to pay three months interest to break your mortgage per Canadian legislation. Breaking a fixed mortgage with terms of five years or less is subject to an Interest Rate Differential (IRD) penalty which is typically much higher. Less long run interest: You could end up paying less interest in a 10-year mortgage than with two consecutive five-year terms, if rates rise. Although you pay more in the first five years with a 10-year rate than a five-year rate, you could save in the second half of your 10-year term. Given that rates are at historic lows, they have nowhere to go but up, though how far and when is unknown. What is certain is that mortgage rates would have to remain below long-term averages for two consecutive five-year terms to win out. Of course, your circumstances can change over time. So make sure that whatever term you choose your mortgage is transferable from one house to another. The 10-year mortgage deserves a closer look. After all, deals like this do not come along every day.
Also read: Why it's a good time to buy a home
|
-
|
Open House - Kensington Neighbourhood Concept Plan - Centennial Drive and Diefenbaker Drive Connections Area residents are invited to a public open house regarding the proposed Kensington Neighbourhood development on Wednesday, January 11, 2012, from 6:30 p.m. – 9:00 p.m. at the Shaw Centre – Tommy Douglas Collegiate Community Gym. The intent of this meeting is to provide area residents with information on numerous Kensington developer and City of Saskatoon jointly funded traffic calming initiatives proposed for Diefenbaker Drive and Centennial Drive. This meeting will be an open house format, and area residents will have an opportunity to provide comments on the proposed traffic calming initiatives. City of Saskatoon staff will be in attendance to answer questions. Wednesday, January 11, 2012 Shaw Centre – Tommy Douglas Collegiate Community Gym 130 Bowlt Crescent 6:30 p.m. – 9:00 p.m. (come-and-go) The City of Saskatoon has previously held two public information meetings with regard to the proposed Kensington Neighbourhood. The primary concerns received at these meetings were related to traffic and pedestrian safety on Centennial Drive and Diefenbaker Drive after connections to Kensington are established. The City of Saskatoon and the Kensington land developers have considered these concerns and have designed a number of traffic calming initiatives along Centennial Drive and Diefenbaker Drive in an effort to improve traffic and pedestrian safety. Details of the traffic calming methods will be provided at the open house. The Kensington Neighbourhood is a proposed new 511 acre residential neighbourhood bounded on the east by Confederation Park and Pacific Heights, on the south by 22nd Street West and the Blairmore Suburban Centre, and on the west and north by agricultural lands. The neighbourhood will accommodate one-unit dwellings, low-density townhouse units, medium-density apartment-style and stacked townhouse-style units, and mixed-use units combining residential with neighbourhood retail, office, and service uses. Completion of this neighbourhood is estimated to be 10 to 15 years.
|
-
2011 was another great year in Saskatoon and area real estate. Over 4000 homes were sold on MLS with an average selling price over 309000 dollars. That number of sales was up over 13% from 2010. Affordabiility continues to be a much discussed issue but it should be pointed out that our average sale price continues to be well below the national average price and homes are available in an astonishing range of prices in the city and surrounding area. The economy of the city and province continues to be among the leaders in Canada and the world. Our mayor and reputable economic organiziations worldwide continue to see nothing but a very bright future for our beautiful city! In addition mortgage rates start 2012 at historic low levels with the five year rate hovering at 3.5 per cent and below and shorter term rates still under three per cent. It's a recipe for amazing growth and opportunity in 2012 and the years to follow.
|
|
|
|