Thomas Miller

Martensville, Sk Real Estate Snapshot

2012-01-25T13:23:00.000-08:00

Here is a run down of what has been going in Martensville, Sk in the last 6 months broken down into price range.

Saskatoon house prices edging up

2012-01-12T12:09:00.000-08:00

The Star Phoenix
House prices in Saskatoon edged up in the fourth quarter of 2011, according to
brokerage firm Royal LePage.

Its House Price and Market Forecast Survey shows year-over-year house prices in Saskatoon increased slightly across all three housing types surveyed, due mainly to low interest rates helping motivate buyers to enter the market.

An average standard two-storey home rose 2.6 per cent year-over-year to $368,750, a detached bungalow increased 0.9 per cent to $334,250 and a standard condominium sold for an average price of $232,333 — a 3.3 per cent year-over-year increase.

To read the entire article click here

Saskatoon Area Stats for December

2011-12-09T14:07:00.000-08:00

The Saskatoon Area stayed did as well as expected for any November. November proved
to be the month with the lowest amount of Sales in 2011. The number of new listings also
dipped to the lowest it's been this year. Don't get to worried out of towners. This is normal for this time of year and if the sale/list charts are any indication it should mean that you can list your house for a little more money in December than you could in November. If you have any questions or comments regarding your area please let me know with a comment below. I am currently booking into January to do in depth market analysis' for small towns in the Saskatoon Area. To book your free consultation call or text/call 381-8455.
-Thomas Miller

Saskatoon Stats for December

2011-12-08T14:29:00.000-08:00

The City of Saskatoon Market trended down slightly as expected in November. December
should continue to see a slow down before a small turn around in January. The number of
listings in November proved to be the lowest number of listings in 2011. If you have any questions or comments leave them below. I am also currently doing in depth market analysis' for home owners at no charge through the Christmas season. To book yours today call or text 381-8455.
-Thomas Miller

6 Worst Home Upgrades For Your Money : #6

2011-11-21T12:23:00.000-08:00

Upscale Garage Addition

Instead of cleaning out the garage, how much would you pay to have a new one built from scratch?

This time, it would have all the organizational built-ins, and a durable, easy-to-clean floor to ensure it would never be messy again. And windows for natural light.

Oh yeah, and you could store a couple of cars in there, too.

The price tag for a top-of-the-line detached two-car with all the trimmings is about $90,053, according to the report. You can expect to recover about 53.6 percent of that when you sell.

"This one is completely decked out on the inside," says Alfano. "It's a dream garage."

And that's likely some of the problem with recovering the value at resale. Says Keim, "You've got a very small target audience out there that wants an upscale garage."

6 Worst Home Upgrades For Your Money : #5

2011-11-18T11:53:00.000-08:00

Bathroom Addition

Unless you're a hermit who never entertains, you've probably wished for an extra bathroom now and then.

But bathroom additions require serious coin. For a moderately outfitted addition with synthetic stone or plastic laminate surfaces, figure parting with about $21,695, according to the Remodeling report. Go upscale, with finishes like premium marble or fine tile, and you can easily spend in the neighborhood of $40,710.

Either way, you get about the same return: 53 cents on the dollar. "In the buyer's mind, the additional bathroom isn't worth that additional $20,000 to $40,000," Keim says.

Investigate a less-expensive way to get the same result without flushing quite as much cash. While additions usually cost more, pros might be able to reconfigure your existing space to add a bathroom for less, Alfano says.

6 Worst Home Upgrades For Your Money : #4

2011-11-15T11:02:00.000-08:00

Upscale Master Suite Addition

Who doesn't want to wake up in a five-star-hotel-quality suite with an attached spa bathroom and a kitchenette that affords you coffee and pastries before facing the world?

Once you see the price tag, it won't just be the coffee keeping you up at night.

For a super-deluxe master suite addition — which adds square footage and uses only top-dollar materials — the average cost is about $232,062, according to the report.

That's 460 nights at a posh resort with enough left over to raid the minibar.

In years past, this project was "sort of a trend in vacation homes" that migrated to primary dwellings, Alfano says. Sellers can expect to recover about 52.7 percent at resale.

Your buyer can purchase a newer house with the same features as part of the original floor plan that "probably lays out better anyway," says Loren Keim, author of "How to Sell Your Home in Any Market."

So while the next buyer may appreciate your luxury accommodations (which could even tip their decision in your home's favor), chances are they won't want to pay the full tab for your remodel.

6 Worst Home Upgrades For Your Money : #3

2011-11-10T07:42:00.000-08:00

Sunroom Addition

Real estate agents will tell you that potential buyers want square footage, pristine condition and lots of light. So a brand-new room that has the word "sun" in it, it has to be great for resale value, right?

Not necessarily.

Your first clue: The word "addition" — which means expanding the footprint of your home — indicates that this is not a renovation for the faint of heart (or wallet). "It's one of the more expensive projects," Alfano says.

While it seems simple enough, the national average for a sunroom addition is $75,224, according to the report. Homeowners can expect to recoup about 48.6 percent when they sell.

That doesn't mean that adding a sunroom is always a bad move.

If your home needs another common area, a sunroom could be the answer, says Katie Severance, co-author of "The Complete Idiot's Guide to Selling Your Home." An addition is best considered in the context of the whole home, she says. "The doctor has to treat the whole patient. You have to look at the house and say 'What's out of balance?'"

6 Worst Home Upgrades For Your Money : #2

2011-11-09T13:46:00.000-08:00

Backup Power Generator

You see a backup generator and imagine all of the comforts no matter what the weather.

But potential buyers hailing from outside your local area may not share that vision. (And a handful of those who do might have watched too many zombie movies.)

On average, when homeowners have a heavy-duty backup power generator installed, they spend about $14,718, according to the report. Going with a slightly less expensive model or having a less complicated installation could cut the costs significantly, Alfano says.

Average amount of the price recovered at resale time: 48.5 percent.

6 worst home upgrades for your money: #1

2011-11-08T11:50:00.000-08:00

It's the magic phrase uttered by almost anyone who's ever considered the cost of home remodeling: "We'll get it back when we sell."

Unless you keep those projects practical, though, you might just be kidding yourself.

For example:

• Steel front door: Good.
• Master suite addition costing more than the average American home: Bad.

Every year, Remodeling magazine looks at the hottest home upgrades and renovations and calculates just how much owners get back with they sell.

Upkeep is more popular than upgrades these days, says Sal Alfano, editorial director for Remodeling. These are the projects that often recoup the biggest slice of expenses at resale. But prices and returns do vary regionally, he says.

Ever wonder what brings the lowest return when you plant that "for sale" sign? Think high-dollar, high-end and highly personalized add-ons that make you drool. Like a totally tricked-out garage built from the ground up. Or a super luxe master suite addition. Or the home office redo designed just for you.

Home Office Remodel

Want to get an idea what today's office-away-from-the-office looks like? Walk into Starbucks.

These days, a home office consists of a multiple-choice combination of wireless laptops, smartphones, PDAs and touch-screen tablets. And that worker bee might be toiling anywhere from a home patio or a favorite restaurant to a park bench.

The standard home office renovation, meanwhile — complete with plenty of built-in storage and high-tech wiring — is this year's biggest loser in the resale value sweepstakes. Nationally, homeowners spent an average of $28,888 and can expect to recoup about 45.8 percent at resale, according to the report.

Return on investment doesn't reflect your enjoyment of the space, Alfano says.

He offers two tips for home-office remodelers when they sell. First, opt for something that can be easily converted back into a bedroom or den for (or by) the next buyer.

Second, when you're selling, call it a study, den or hobby room. "There's lots of call for multipurpose space. Don't lock yourself into that one use," Alfano says. Don't use words that invoke images of actual work. Or the office.

Cuba legalizes sale, purchase of private property

2011-11-04T13:39:00.000-07:00

HAVANA (AP) — Cuba announced Thursday it will allow real estate to be bought and sold for the first time since the early days of the revolution, the most important reform yet in a series of free-market changes under President Raul Castro.

The law, which takes effect Nov. 10, applies to citizens living in Cuba and permanent residents only, according to a red-letter headline on the front page of Thursday's Communist Party daily Granma and details published in the government's Official Gazette.

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The law limits Cubans to owning one home in the city and another in the country, an effort to prevent the accumulation of large real estate holdings. It requires that all real estate transactions be made through Cuban bank accounts so that they can be better regulated, and says the transactions will be subject to bank commissions.

Sales will also be subject to an 8 percent tax on the assessed value of the property, paid equally by buyer and seller. In the case where Cubans exchange homes of equal value in a barter agreement, each side will pay 4 percent of the value of their home.

"This is a very big step forward. With this action the state is granting property rights that didn't exist before," said Philip J. Peters, a Cuba analyst at the Lexington Institute in Arlington, Virginia. "If you think about it from the point of view of a Cuban family, it converts their house from a place to live into a source of wealth or a source of collateral. It's an asset that can now be made liquid."

While the Gazette was available online, few Cubans have access to the Internet and most were waiting for the booklet to go on sale at kiosks around the country. A handwritten sign posted at Havana's main distribution center Thursday advised that the law booklet was not yet on sale.

On the streets of Havana, residents said they were thrilled by the news but anxious to see the fine print.

"This is going to help me because I have some money and now I will be able to buy a better house," said Oscar Palacios Delgado, a 68-year-old office maintenance worker, adding he hoped the government would enact other changes to make it easier for Cubans to find building materials for home repairs. "This law will benefit many Cubans."

Cuban exiles will not be allowed to purchase property on the island since they are not residents. Still, they will be able to send money to help relatives buy new homes, and there was speculation some might try to buy homes themselves through frontmen, something the government would likely try to prevent.

The change follows October's legalization of buying and selling cars, though with restrictions that still make it hard for ordinary Cubans to buy new vehicles.

Castro has also allowed citizens to go into business for themselves in a number of approved jobs — everything from party clowns to food vendors to accountants — and has pledged to streamline the state-dominated economy by eliminating half a million government workers.

Cuba's government employs more than 80 percent of the workers in the island's command economy, paying wages of just $20 a month in return for free education and health care, and nearly free housing, transportation and basic foods. Castro has said repeatedly that the system is not working since taking over from his brother Fidel in 2008, but he has vowed that Cuba will remain a socialist state.

Cubans have long bemoaned the ban on property sales, which took effect in stages over the first years after Fidel Castro came to power in 1959. In an effort to fight absentee ownership by wealthy landlords, Fidel enacted a reform that gave title to whoever lived in a home. Most who left the island forfeited their properties to the state.

Since no property market was allowed, the rules have meant that for decades Cubans could only exchange property through complicated barter arrangements, or through even murkier black-market deals where thousands of dollars change hands under the table, with no legal recourse if transactions go bad.

Some Cubans entered into sham marriages to make deed transfers easier. Others made deals to move into homes ostensibly to care for an elderly person living there, only to inherit the property when the person died.

The island's crumbling housing stock has meant that many are forced to live in overcrowded apartments with multiple generations crammed into a few rooms. Even divorce hasn't necessarily meant separation in Cuba, where estranged couples have often been forced to live together for years while they worked out alternative housing.

According to the Gazette, the new law will eliminate the need for approval from a state housing agency, meaning that from now on sales and exchanges will only need the seal of a notary.

Cubans will also now be allowed to inherit property from relatives without having to live in it first, and they will be able to take title of property of relatives or others who emigrate. Previously, such properties could be seized by the state.

Guidelines For Legalizing Existing Suites In Saskatoon

2011-11-01T10:37:00.001-07:00

Guidelines For Legalizing Existing Suites In Saskatoon

These guidelines reflect minimum acceptable standards

For the purpose of this guideline an “existing suite” is one that was developed and occupied prior to January1 1999. A letter of verification regarding the age of the suite, signed by the current owner will be required. Further proof of the age of the suite may be requested.

1. Access to each suite must be gained without passage through a furnace room.

2. Dwelling units must be separated from each other (vertically and horizontally) by fire separation having a fire resistance rating of not less than 30 minutes.

3. The furnace room must be separated ( if the second dwelling unit is located in the basement ) from all adjacent areas by 30 min frie rating ( walls only ). A 45mm thick solid core door with 38mm solid wood jam complete with a latch and closer is required.

4. Interior exit stairs ( and exit corridor ) must be separated from the remainder of the building by a frie separation having a fire resistance rating of no less then 30 minutes.

5. Doors and door frames from the common exit into the dwelling units must have 20 minute frie resistance rating and be equipped with a latch and closer. (A 45mm thick solid core door with 38mm solid wood jam is acceptable).

6. Rise and run, width and headroom of stairs must reasonably conform to N.B.C and stairs must be provided with handrail/guardrail.

7. Ceiling height in exit corridor cannot be less then 1.95m. Projections or obstructions cannot reduce the headroom clearance beyond 1.80m

8.Ceiling height in all rooms of the second suite cannot be less then 1.95m over 75% of the ares. Projections or obstructions cannot reduce the headroom clearance beyond 1.80m.

9. Hard wired smoke alarms must be installed in each dwelling unit in accordance with the current National Building Code.

10. A smoke detector must be installed in the furance room ( if the second dwelling unit is located in the basement ) and must be interconnected with the smoke alarms on the main level.

11. The second dwelling unit must have at least two openable windows to the outside ( one must be in each bedroom ). Bedroom windows must have an unobstructed open protion having a min area of 0.35m2 (3.8ft2) with no dimension less then 380mm (15in).

12. All bathrooms must have mechanical or natural ventilation.

13. All bathrooms must be fully enclosed and have a lockable door.

14. Combustion air is requred into the furnace room.

Two sets of drawings will be required upon application for a building permit. All 14 items listed ubove must be included on the plan. The drawings must identify the size of new and existing windows and show the location of all cupboards, stoves, refrigerators and plumbing fixtures. Type and location of smoke alarms must be identified.

If you need more info got to The City Of Saskatoons Website http://www.saskatoon.ca/

Saskatoon Selling Price

2011-10-27T09:54:00.000-07:00

The average selling price in September trended down slightly to $311,057 from $315,774 (August). It was just over $1000.00 less than last September making it the second highest September in the history of Saskatoon.

Saskatoon Sales

2011-10-25T12:26:00.000-07:00

The number of Sales in Saskatoon dipped from 415 in August to 345 in September. This is par for the course when we look at sales over the last ten years. There has only been one year in the last ten when there were more sales in September than in August and that came in 2008 when there were 2 more sales in the month of September (241). A big positive is that 345 sales in September is the most sales that September has seen in the last ten years. As with the listings the # of sales should continue to trend down as winter approaches.

Out of Town Listings Rise in September

2011-10-20T13:41:00.000-07:00

For the third straight year there was more listings in September than in the previous month of August. September was also the second highest month for new listings that we have seen in 2012. The assumption is that people are wanting to get moved into the city before the snow flies.

What to expect in October: A large slow down in the number of new listings is expected in October as people hunker down for the winter.

Out of town sale price

2011-10-17T14:29:00.001-07:00

Listings Slightly Down in September

2011-10-17T14:18:00.000-07:00

Only once in the past five years have there been more listings in September than in August. That was in 2008 when September boasted strong 831 listings to Augusts 795. With 604 listings this past September it was also the most listings Sept. has seen since 2008 and the second highest amount of listings for September in the last 10 years. October should continue to trend down as winter nears. Only once in the last ten years has there been more listings in October than in September. That came in 2006 when September had 376 new listings which was followed by an October that saw 378 new listings.

What to expect in October: A gradual/annual slow down

This week's non real estate post.

2011-10-17T11:26:00.001-07:00

Saskatchewan to lead growth in all provinces in 2012

2011-10-12T12:50:00.001-07:00

REGINA -- Saskatchewan should post solid 2.8-per-cent real GDP growth in 2011 — second only to Alberta at 3.1 per cent — then lead the nation with 2.9-per-cent growth in 2012, thanks to strong activity in the resource sector and a rebound in agriculture, BMO said Wednesday.

“Saskatchewan’s economy has again been challenged by wet weather and another weak crop year,” said BMO Capital Markets in its latest provincial monitor. “Real crop and animal production plunged 19 per cent last year amid extremely

wet weather, shaving more that two percentage points from real GDP growth.”

Flooding had a negative impact again this year, as insurance claims for unseeded acres rose to a record $329 million, the report said. However, recent Statistics Canada reports indicate crop production should by 20 per cent higher this year than last.

Potash production continues to expand, though at a more modest pace than that seen coming out of the 2009 recession. Overall, potash production was up 22 per cent year over year in the first half of 2011.

BHP Billiton’s proposed Jansen mine, which would be the world’s biggest at eight million tonnes annually, is on track to begin production in 2015, and the company is actively exploring more mine sites. German potash miner, K+S,

is investing an estimated $2.5 billion to develop its Legacy Project, a solution potash mine near Bethune, which is also expected to begin producing in 2015.

Exploration activity in the oil and gas sector is also strong in the Bakken formation in the southeast, and the province is

expecting four per cent annualized growth in oil production through fiscal 2013-14.

Resource-sector investment is supporting the labour market, as the province boasted Canada’s lowest unemployment rate at 4.6 per cent in September, BMO said.

“A tight labour market, solid job prospects and relatively low living costs should continue to drive population growth, and combined with a modestly lower tax burden, ... will support consumer spending and the housing market.” Retail sales are up more than seven per cent year over year through July, the fastest pace in the country, the report added.

bjohnstone@leaderpost.com
© Copyright (c) The StarPhoenix

Pensmore - America's Newest Castle

2011-09-22T11:10:00.001-07:00

Currently under construction, Pensmore is an outstanding single-family residence that will soon be added to the list of largest homes in the word. It is located in the Ozark mountains, Missouri, between Branson and Springfield and will boast 72,000 square feet of living spaces when completed. The floor plan alone features thirteen bedrooms and fourteen bathrooms, plus numerous opulent amenities.

What’s quite surprising about the chateau is the fact that it’s remarkably green for its gargantuan size. Built to withstand floods, earthquakes, hurricanes, tornadoes, fires, insect damage and more, the residence implements cost-effective eco building technologies like near-zero energy consumption, low maintenance requirements and a durability that is measured in decades.

But who is the owner of this huge mansion? There was a lot of speculation on the matter, as Pensmore gradually became a project that captured national attention. Some said that it would be the new home of Angelina and Brad, while others believed that it would be used for military purposes. Made entirely of concrete and steel, the residence has lately been confirmed to belong to concrete company owner Steven Huff.

The 60-years-old chairman of TF Concrete Forming Systems talked about the project, saying that “the mission behind Pensmore is to serve as a living laboratory for ongoing research into energy conservation and disaster resistance”. Obviously, the “living laboratory” will also be used as an opulent home – no doubt about that.

This weeks non Real Estate Post

2011-09-13T15:12:00.001-07:00

The best day of fishing a guy could ask for

August Selling Prices

2011-09-06T15:50:00.000-07:00

Sales Prices Rise in August
The average sale price in the month of August was the third highest it has been this year finishing at 315,774. The highest month came in May when the average price in May was 317,932.

What to expect in September: If we take a snapshot of July-->August-->September in the last 10 years there has only been one time where the sequence "higher price, lower price, higher price" or "lower price, higher price, lower price" has not held true and that was in 2001 when July's average was 113,585, August was 117,221 and Sept was 117,356. In this case the sequence from July-->August-->September was "lower price, higher price, higher price."

This would lead to the prediction that the average sale price in September will indeed be lower than it was in August.

Saskatoon Area Prices
There continues to be very little fluxuation in the Saskatoon area pricing through 2011. Prices continue to be higher than ever but are still somewhat affordable compared to in the city.
What to expect in September: Things stay on track.

Out of Town Sales for August

2011-09-02T14:56:00.000-07:00

Out of Town Sales Rise In August
The out of town numbers reflected the Saskatoon Sales numbers as they also were higher than July rising from 96 to 118. It is not out of the ordinary for out of town sales to rise in August as this has been the case 3 of the last 5 years not including this year. A possible explanation for this is people wanting to get settled in to the new location before school starts up for the kids.
What To Expect in September: Every September has been slower than August in the last ten years with the exception of 06' when there were two more sales than August and 09' when there were 11 more sales than August.

Sales Numbers For August

2011-09-02T14:44:00.000-07:00

Saskatoon Sales Rise In August
The number of sales in Saskatoon rose marginally July's 403 to 415 in August. This is the first time since 2006 that there have been more sales in August than July. (July 06'-332, Aug 06'-343). I heard stories of listings being sold the day they were listed and heard and was involved in a couple multi offer situations. It's not 2007 but the market is definitely healthy.
What to Expect in September: If the last nine years are any indication September will be a slower month than August. There has been no September outsell an August of the same year for as far back as the records go. If September is indeed a more active month than August it is going to make for a very interesting winter. If you have any questions feel free to leave a note below or you can call or text me @ 381-8455.

Listings up in August

2011-09-01T13:40:00.000-07:00

Listings Slightly Up in August
The amount of listings in August rose slightly from 603 in July to 629 in August. It is down just slightly from August 2010 when there was 644 listings and up drastically from 09' when there were 517 new listings.

The overall listings to date are a little head of 2010 (5,032) with 5,165.

What to Expect in September: September is a start to the winter slow down. Kids are getting back in school and people are starting to settle in for the cold season. There should be around 50+ less listings in the month of September.

Out of Town Listings
As opposed to the city the new listings in the Saskatoon are trended down slightly. Going from 259 in July to 247 in August. The overall out of town listings is well ahead of last year (1,891) as we sit at 2,036 to date.

Home Insurance : Claim Carefully

2011-08-31T09:18:00.000-07:00

Home insurance: Claim carefully
Homeowner insurance is a piñata of good things for bad times. The trouble is that once you tap this gift horse, you may not get another crack at it. Insurance companies are not running giveaways after all. They market protection but are ready to take it away or make it a lot more expensive if their clients show a tendency to make claims.

But homeowners need the coverage. Thus the irony of the product: It’s vital to the homeowner’s financial health, but use it too often and the insurer is likely to cut your coverage or to terminate the policy. They can raise rates a little or a lot, even 50% or more. They don’t want serial claims makers, after all.

Homeowners may be tempted to claim for risks for which they are paying; the more bells and whistles, the more temptation. Even the most basic homeowner plans, what the insurance industry calls the standard plan, cover the structure of a house for mayhem from fires, lightening strikes, hits by speeding cars and falling aircraft. Go to the next level, the broad form policy, and the contents of a house are insured for all of that and numerous named perils to contents, such as theft. And the comprehensive policy, the industry’s widest net of hazards, covers the structure of the house and everything that is not specifically excluded. Floods and acts of war are excluded. No policies cover slowly progressive damage, such as termites and other vermin eating up your joists, nor do they cover the cost of maintenance, such as replacing corroding water pipes.

Many modern perils are not covered. If your local nuclear power plant has a meltdown and makes your home too dangerous to live in, your policy won’t cover it. A tsunami is also not covered by conventional policies that exclude both nuclear radiation and flood damage. In effect, a peril that can affect every home in an area is not likely to be covered. A risk that hits one home at a time, such as falling aircraft or a lightening strike, can be covered.

The irony of going up the scale of hazards covered is that, though you pay about 10% to 15% more for every boost in coverage from the standard to the comprehensive plan, making use of such coverage can lead to higher premiums or outright cancellation.

Beware of insuring for benefits that you may not really need. If you claim for “mysterious disappearance,” such as forgetting a watch somewhere while washing your hands, insurers may jack up your rates or lower benefits. If they think that you are the sort of person who is prone to make claims, they can raise your cost for every benefit that you want.

“If you do make small claims, such as the loss of a $700 bicycle when you have a $500 deductible, the insurer is likely to raise your premium and eliminate your claims-free discount,” says Cathie Pottie, a licensed insurance broker in Winnipeg. “The purpose of home insurance is to pay for losses that will seriously strain your budget.”

The general rule is that a single claim won’t flag you as a bad risk, but the second claim will set off alarms, she explains.

If you have a total loss, then the wider the coverage, the greater the chance that most or all of your costs will be covered. But using a policy for small losses is not only an abuse of the idea that insurance is for major losses, it is an invitation for the insurer to raise premium costs or to reduce available benefits.

“One way or another, the insurer is going to get its costs reimbursed by frequent claimers,” says Andy Husband, a licensed insurance agent in Edmonton. “Make two or three claims within a few years, and the insurance company is likely to jack up your rates.”

That is the bottom line of insurance shopping. If you have a mortgage, then chances are that the lender has required you to have at least basic fire and windstorm coverage on the structure. But the homeowner with no mortgage who has not bought coverage is at risk. For that owner, a large loss could be catastrophic.

Thus the balance between insuring for small stuff, such as damage to your drapes caused by water spilling from clogged downspouts — likely covered by a comprehensive policy — that you could pay for out of pocket, and the incineration of your whole house and everything in it, which you could not cover.

Homeowners concerned that they may set themselves up for policy cancellation can raise their own deductibles. One can save 10% to 13% of the cost of a policy with a $1,000 deductible instead of a $500 deductible. That reduces the temptation to make minor claims. And if you do have a claim that you can afford to cover out of pocket, it can be a good idea to discuss it with your insurance agent, Ms. Pottie adds.

It is important to read home insurance policies carefully, for there is no uniform policy that every company uses. Yet the differences between types of coverage and each company’s special features is vital.

“Unlike auto insurance, which is compulsory in every province, homeowner policies are optional except for covering the financial interests of lenders,” explains Pete Karageorgos, manager of consumer and industry relations for the Insurance Bureau of Canada for Ontario. “The wording of policies varies from one company to another, so it pays to shop the market.”

Financial Post
© Copyright (c) National Post

What's Hot in Condo Decor

2011-08-22T15:07:00.000-07:00

When it comes to condos, staying on the cutting edge of style and decor is key. The general perception of what’s hot and what’s not can change daily, so choosing trendy yet timeless decorating styles and furniture pieces is the true challenge for the condo dweller. Always keep resale value in mind when you paint or make upgrades. Chances are, you won’t live in this condo forever and when you do sell, you want the place to be attractive to a wide demographic–rather than simply to those who share the same tastes you do.

What’s Hot:

Clutter-Free Living
The choice to live in a condo generally means one must commit to living clutter-free. Although most condos have a storage locker and at least one closet, the space for storage is quite limited compared to that of other types of homes. That’s why it’s so important to adopt a Zen-like approach to clutter and possessions. If you don’t need it, sell it, give it to charity or throw it out. If you don’t know where you’ll put it, don’t buy it. Life is much easier without too much stuff, and condos are much more attractive when they aren’t packed with useless possessions.

Flowing Decor
When decorating a condo, choose a theme and stick with it. Condos and condo townhouses are generally open-concept and fairly small, and introducing too many colour schemes will overpower the space. When painting, choose a colour that you can repeat–for example, paint your bedroom the same colour as your washroom to give the impression of an ensuite and then chose a lighter or darker version of the shade for the living area and kitchen.

Dramatic Wood Finishes
It’s tempting to go with deep, dark paint colours when seeking to add drama to your condo decor, but particularly in a small space, this is not a great idea. Instead, stain the floors a dark oak or cherrywood finish. Cupboards can be outfitted with dramatic finish as well and furniture in rich distressed black stain is another attractive way to add depth to your decorating.

Streamlined Storage
Maximize closet space by building shelves and installing closet organizers. Make every square foot count–even under the bed! Buy thin plastic storage boxes which slide easily into small spaces and use them to store seasonal clothing, wrapping paper, gift bags and more. Invest in drawer organizers and cupboard shelves, too.

Tune in Thursday for "What's Not" so hot when it comes to condo decor.

Saskatoon Storm Photos

2011-08-16T13:10:00.000-07:00

Storm Time-Lapse, Saskatoon from Joshua Baker on Vimeo.

Check out video from last nights lightning storm filmed by Joshua Baker of Saskatoon. The lightning was apparently followed by large hail and heavy rain. I live ten minutes out of town and we had no hail and just a little bit of rain. Strange weather.

HOUSING STRATEGY FOR SASKATCHEWAN RELEASED

2011-08-09T14:21:00.000-07:00

The Government of Saskatchewan today released A Strong Foundation - The Housing Strategy for Saskatchewan 2011-12 and the 2011-12 Provincial Action Plan, which outlines government's key activities for the strategy's first year of implementation. This precedent-setting strategy involves the entire housing sector and promotes a housing environment where all Saskatchewan people have access to homes that enhance their well-being, build local communities and contribute to a growing province.

"This strategy is an eight-year plan that is truly a collaborative community, industry and government-driven initiative needed to build a strong housing environment for Saskatchewan people," Social Services Minister and Minister responsible for Saskatchewan Housing Corporation June Draude said. "This plan goes beyond what the Government of Saskatchewan can do alone. It serves as a roadmap for us, as we work together to make Saskatchewan the best place to live, work and raise a family."

Since 2006, Saskatchewan has been experiencing unprecedented economic and population growth that is expected to continue for years to come. One of the challenges of this growth has been increased pressure on housing supply and affordability. In March and April 2011, the Saskatchewan Housing Corporation (SHC) held strategy consultations with more than 350 housing stakeholders throughout the province to tackle these issues and set out tangible solutions. These discussions resulted in five broad strategic priorities:

Increase the housing supply;
Improve housing affordability;
Support individuals and families in greatest housing need;
Enhance strategic planning for housing; and
Collaborate, communicate and educate.
Across the province, housing experts stated that every member of the housing sector has a role in providing housing solutions. Under the Housing Strategy for Saskatchewan, the Government of Saskatchewan will create annual Provincial Action Plans that will outline activities that will yield immediate results, as well as actions that will require work over multiple years. It is anticipated that everyone in the housing sector will fulfill their respective roles in creating solutions to Saskatchewan's housing challenges.

Under the 2011-12 Provincial Action Plan, the province also announced that $5 million in additional funding will be provided for SHC's popular Affordable Home Ownership Program (AHOP) and Rental Construction Incentive (RCI) program. More than 3,800 units have been approved under the programs (847 AHOP units and 2,965 RCI units). This already exceeds the number of units outlined in the Saskatchewan Advantage Housing Plan released on March 28, 2011.

AHOP provides financial assistance to help municipalities stimulate homeownership by reimbursing participating municipalities an amount up to the equivalent of five years of the education portion of the property tax to provide homeowners assistance with the purchase of a home. RCI helps municipalities to develop new purposely-built rental housing by providing municipalities with a provincial grant of up to $5,000 to match municipal grants or incentives to an owner for each eligible new rental unit constructed.

Copies of the Housing Strategy for Saskatchewan and the 2011-12 Provincial Action Plan are available on Saskatchewan Housing Corporation's website at www.socialservices.gov.sk.ca/housing-strategy.

For more information, contact:

Andrew Dinsmore
Social Services
Regina
Phone: 306-787-8689

Sales Prices

2011-08-08T15:26:00.000-07:00

The average price month to month has dropped again but this does not mean prices overall are dropping. In fact as you can see in the second graph prices are staying strong. The strongest they have been in quite sometime. In 2010 the average price at this time was 290,000. Where as no it is $15,000 higher.

What to Expect in August I expect August to be a bit of a rebound month in the average monthly prices which will also increase the overall average. Only time will tell.

Out of Town Sales Prices
The out of town sales also continue to hold strong and steady through the summer months as they usually do. The out of town market has shown to be on a gradual incline the past three years. The fact this incline is so gradual makes for a very healthy market.

Saskatoon's July Sales Stay Strong

2011-08-03T16:02:00.000-07:00

The number of sold homes in the city of Saskatoon held steady from June to July. Overall the number of sold homes in the city continues to outpace both 2009 and 2010.

What to expect in August: Generally in the "number of sales" category, August seems to always be a very similar month to July.

Out of Town Sales
Out of town sales dipped quite a bit in July but still remained higher than July 2010. A stark contrast to 2009 when sales in July actually went up. That said, overall this continues to be a very strong year for out of town sales.

City of Saskatoon Listings Dip in July

2011-08-02T13:25:00.000-07:00

Listings in the month of July dipped to the lowest numbers since February but there is no need to hit the panic button as every year July has proven to be a slower month. In the past is has also marked the beginning of a gradual slowdown as we approach the cold season (I don't mean germs).

What To Expect in August: Over the past ten years August has created a life of it's own. There have been years where August has been a bounce back month for the number listings and other years where the gradual slope down continues. My expectation for this year is that August will be a little bit better than July in the new listing department.

Out of Town Listings
As opposed to the city the out of town listings stayed strong for the month of July. Seeing a small increase of 8 listings from June to July.

Check back tommorrow for the sales stats for the city of Saskatoon.

Own your own town today!

2011-07-28T13:36:00.000-07:00

Scenic, South Dakota is FOR SALE!

Had it with life in the big city? The traffic, crowds, and high rent got you down? Then may we suggest you consider investing in the town of Scenic, South Dakota? And by "invest" we mean "buy the whole darn town for $800,000."

That's right. The small town, which admittedly has seen better days, can be yours for just a bit more than an average home in San Francisco. So, what exactly do you get for your $800k? Quite a lot, actually. You'll get a dance hall, a saloon, two jails, a train depot, two stores, and some more empty buildings.

According to ABC News, the town is for sale because the current owner, Twila Merrill, has been diagnosed with cancer. Merrill's daughter, Lee Ann Keester, remarked, "I have to take care of my mom. Family always comes first... But it's just time, everything comes with time... [My mom] would love to do it until she's 100, but her health won't permit her."

True, the town won't be mistaken for New York or even Green Acres. However, based on the pictures, it does have a certain Old West charm. One can almost picture John Wayne ambling down the street. It does look like a ghost town--and with fewer than 10 residents, it's mighty close to becoming one.

This isn't the first time an entire town has gone up for sale. Some may remember actress Kim Basinger's ill-fated purchase of Braselton, Georgia for $20 million. Basinger planned to turn the town into a tourist draw, complete with film festival. But things didn't quite work out as she planned. She was later forced to sell the town at a huge loss due to financial problems of her own.

And Basinger isn't alone. As an article from MSN points out, many have purchased towns only to see that the dream of "owning their own zip code" turn into a nightmare. It's one thing to be a landlord and have to fix a renter's leaky faucet. It's another to be responsible for an entire town of faucets (and toilets, and electricity, and crime prevention, and, and, and...)

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Saskatoon is Canada's Fastest Growing City

2011-07-21T10:04:00.000-07:00

By Shannon Proudfoot
The Prairies are rising and Saskatchewan is leading the way as home to two of the three fastest-growing cities in Canada, new demographic analysis from Statistics Canada shows.

Saskatoon is the fastest-growing city in Canada, with a population growth rate of 27.7 per 1,000 people between July 1, 2009, and June 30, 2010. That translates into 7,200 more residents, for a total population of 265,300, the agency said Wednesday.

Saskatoon is followed by Vancouver, growing at a rate of 22.3 per 1,000, and Regina, which swelled by 22.3 per 1,000 over that same one-year period.

International migration was the driving force behind the Saskatchewan boom, Statistics Canada says, with nearly half the population growth fuelled by that factor. Saskatoon alone gained 3,300 people through net international migration in that year, outstripping the international draw of larger cities such as Hamilton and Quebec City.

Toronto was Canada’s fourth fastest-growing city, followed by Calgary, Moncton, N.B., Edmonton, Ottawa-Gatineau and Winnipeg.

Edmonton and Calgary’s growth rates have slowed from their furious pace between 2005 and 2009, when the two Alberta cities never dropped out of the top four in terms of growth, but they remained above the Canadian average.

In contrast, cities including Halifax, Montreal, Kelowna, B.C., Victoria and St. John’s had growth rates below the national average. Only two cities — Windsor, Ont. and Sudbury, Ont. — registered negative population growth, driven in both cases by losing residents to other Canadian cities.

As of Canada Day 2010, 23.6 million people or 69.1% of the population lived in one of Canada’s census metropolitan areas (CMAs), large urban centres of at least 100,000 people and their surrounding regions, Statistics Canada said.

And these cities are growing faster than the rest of the country: Population growth for CMAs was 14.7 per 1,000 people over that one-year period, compared to 11.5 per 1,000 as a national average and 4.3 per 1,000 in small towns and rural areas.

Torontos Smallest House - 128 Day Ave

2011-07-12T14:25:00.000-07:00

Year built: 1912

Lot size: 7.25' (2.21m) W at front x 113.67' (34.65m) L x 8.58' (2.62m) W at back

House length: 47' (14.33m)

House size: approx. 312 sq. ft. (29 m²)

Energy Savings: Energy Star rated appliances; almost all fluorescent lights with an interior/exterior house total of under 150 watts; low flow shower head; 6 LPF toilet; solar patio lights; R50 attic insulation; spray insulation on basement/crawl space walls; high efficiency gas furnace with programmable thermostat.

Home Inspection Report Summary - Comments:

This unique home is in good condition overall and has been well maintained. The asphalt roof covering is new and in good repair. The exterior of the home is well maintained and the siding is in good condition. The wood frame exterior walls are supported by masonry foundations. The 100-amp electrical service is suitable for a home of this size and is distributed through a breaker panel, which provides convenient control for the circuits in the home. The heating system is comprised of electric baseboard heaters. All visible supply piping in the home is copper, including the upgraded main water service line. The waste piping consists of cast iron, copper and plastic. The interior of the home has been updated and is well maintained.

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Out of Town Stats

2011-07-08T13:43:00.001-07:00

Here are Junes "Out of Town" Stats. The map below gives you an idea of some of the communities these stats are taken from.

As you can see out of town listings are actually a little bit ahead of where they have been in the previous years. The monthly listing numbers are about par for the course and we should see a decline begin in late August. Part of the reason for this decline is when people move into or out of town their kids have to switch schools which is a major reason the out of town sales peak in the summer and decline during the school year.

The past few months have been the strongest months that the Saskatoon area has seen in a few years as far as number of sales per month go. Overall sales are also ahead from the past few years. The higher numbers can partially be credited too the development going on in Warman and Martensville.

The average selling price for out of town homes is sitting very steady as it has the past few years. It is quite possibly the highest average the out of town market has ever seen.

2011-07-07T16:06:00.000-07:00

Here are the stats up until July 1, 2011 and how they compare to 2010, 2009. Will have out of town stats up tomorrow. All numbers on the graph are 2011 numbers.

2011-07-07T13:00:00.001-07:00

Second Quarter Residential Home Sale Numbers up from 2010

Coles Notes Version
Average Days on Market – 36

May 2010 – Home Sales – 364
May 2011 – Home Sales – 442

May 2010 – Average Price - $295,963.00
May 2011 – Average Price - $310,643.00

May 2010 - # of listed homes – 1430
May 2011 - # of listed homes - 1412

Used under license Second Quarter Residential Home Sale Numbers up from 2010 REALTORS® were kept very busy in June selling 422 residential homes. That number was up 16% from June 2010 when 364 properties were sold. The greatest sales activity remained in the $300,000.00 to $350,000.00 price range. The average number of days to sell in the month of June was 36 days pointing to an active steady market environment.

The average residential selling price in June was $310,643.00 this number was up 5% from June 2010 when the average selling price was $295,963.00. The increase in the average selling price indicates strong sales activity in the mid to upper price range. Year to date the average selling price date stands at $305,829.00 up 5% from last year at this time when the year to date average price was $290,588.00.00.

The average residential price is derived by taking the month’s dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact Thomas to do a comparitive Market Analysis.

Inventory levels continued to correct in the month of June. Home buyers had 1430 homes to select from at the end of the month that number up slightly from June 2010 when 1412 homes were on the market. REALTORS® listed 770 homes in June that number was up 14% from June 2010 when 677 properties were listed for sale. Year to date 3,934 properties have been listed for sale that number up 2% from June 2010 when 3,839 were placed on the market for sale. Inventory levels remain steady providing home buyers with a reasonable number of homes from which to select.

In areas surrounding Saskatoon home sale activity remained strong with 118 homes selling as compared to 100 homes selling in June 2010. REALTORS® listed 251 properties in these areas in the month of June. That number is up 2% from June 2010 when 247 properties were placed for sale on the market. The average number of days to sell in the areas around Saskatoon during the month of June was 55 days.

Saskatoon’s economy remains strong. Consumer optimism in the economy is shown by their willingness to invest both in residential and commercial real estate. Many renters are looking to purchase, many current home owners are looking to move up in house and many REALTORS® are working with clients wanting to move to Saskatoon from out of province.

An important factor of a strong housing market is the activity experienced in new home sales. Saskatoon’s new home market remains strong with steady city lot sales taking place. Interest rates are favorable to purchase that next home and job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for resale prices to move up slightly due to demand

The Dome House

2011-07-06T12:19:00.001-07:00

The Dome House
For Sale : $74,000
Make your next getaway at this beautiful dome home located on ten acres just a short walk from the Rio Grande Gorge. It sits just across the Rio Grande Gorge from the town for Arroyo Hondo. A sea of sagebrush with big skies surrounded by a panoramic mountain views in every direction create a feeling of remote beauty.

Choose the color of your choice to put the final coat of stucco on this home. The current owners sprayed it with insulation and painted it with a protective coat.

2011-06-24T09:31:00.001-07:00

Buying American Real Estate?
Thinking of buying some American Real Estate? The time is now as you will see in this report done by the CBC.

2011-06-23T15:09:00.001-07:00

Making the Most Of Your Space
By Caitlin McCormack

You certainly won’t be disappointed to make the 100-stair climb to Christian Schallert’s “Lego home”. The Barcelona apartment is just 24 square metres (258 square feet), but can be transformed into an infinite number of spaces, depending on his needs.

Formerly a pigeon loft, Schallert says he was inspired to create the living space by the fold-out elements of boats he saw on his childhood vacations, as well as the clean lines of Japanese living. To him, having things tuck into every nook and cranny seemed like an obvious idea.

“At the end of the day, what do you really need for living? You need a nice comfortable mattress and nice clean sheets, running water, shower and a stove to cook something,” he says. “You don't need so much more stuff.”

The Barcelona-based photographer has dubbed his transformative home an “action apartment” and jokes that building and disassembling his living space all day helps to keep him in shape.

While Schallert champions the benefits of this streamlined living, it’s really only ideal for one, and he’s recently moved out of the apartment after entering into a relationship.

The Most Expensive House In America

2011-06-15T14:15:00.000-07:00

Home Facts
*Largest Private Home In LA
*Bigger than the Whitehouse
*Originally Listed at 150 Million
*On 4.7 Acres
*Famous Owners Include Bing Crosby and Aaron Spelling
*Only 7 Bedrooms
*4 years to build
*55,000+ Square Feet

Candy Spelling has sold the L.A. mansion built by her late husband, legendary TV producer Aaron Spelling. According to the Wall Street Journal, the sprawling, 57,000-square foot home had a list price of $150 million, although the final sales price was not disclosed.

Candy, 65, and Aaron bought the property in the early 1980s and tore down the existing house on the property. In its place, they built the French chateau-style home in 1991. Tori Spelling, 38, lived in the residence until age 19. The home has a double staircase inspired by Gone with the Wind. There's also a flower-cutting room, a china room and a "Prince Charles Suite," named after the one-time royal guest.

The buyer, Petra Ecclestone, is a 22-year-old Croatian-English racing heiress. (Her father is Formula One racing boss, Bernard Ecclestone.) Petra will split her time between London and Los Angeles after her upcoming August wedding to entrepreneur James Stunt. Her London home is a six-story house in the Chelsea neighborhood that was purchased for $90.9 million.

Housing starts climbed in Saskatoon

2011-06-14T11:53:00.000-07:00

Coles Notes

Multi Family Units
May 2010 - 8
May 2011 - 74

Single Family Units
May 2010 - 118
May 2011 - 102

Housing starts climbed in Saskatoon
Saskatoon’s economy continues to boom and nowhere is this reflected more than in the number of housing starts in the city according to new figures released by the Canadian Mortgage and Housing Corporation (CMHC) Wednesday.

The biggest jump in new construction was in multiple-family units. There were 74 new starts in May compared to eight in May 2010. Overall, there have been 530 new starts in 2011, up over five times from the same period last year.

There was a slight decrease in the number of single family units, with 102 starts in May 2011, down from 118 a year ago. In 2011, there have been 586 new housing starts, down 8.3 per cent from 2010.

Total starts for 2011 are up 50 per cent from 2010 even though many forecasters predicted a slowdown in residential construction sector.

Saskatoon & Region Home Builders’ Association doesn’t expect there to be a slowdown and says new housing starts in Saskatoon should continue to grow substantially through the year and into next year.
© Copyright (c) Shaw Media Inc.

How Long is Too Long To Keep Your House Listed?

2011-06-08T14:19:00.001-07:00

Have you ever driven past a house for 3 years and wondered why it was still for sale? So does everyone else.

"Having a for sale sign on your front lawn for 4 months or more can do more harm than good," says Thomas Miller, a real estate agent in Saskatoon. "In Saskatoon where the average house sells within 33 days it can definitley leave people scratching their heads as to why it's still on the market. People start to assume something is wrong with the house, it can scare people off."

Water damage, mold problems, structural issues are all problems people foresee being wrong but Miller says "Usually the only problem is that the house is priced too high." Miller goes on to say, "Generally people over value their assets. They want to get the most out of their house but if the property isn't selling then at some point you have to take a look at the market and see what is really happening out there."

If your one of those people that has had their house listed for longer than what your happy with there are solutions to the problem. Miller states, "There are a few things that can help your situation. Number one, talk to your agent and reduce the price, it's as simple as that. The second is to pull the house off the market for a week or two and relist it. It may catch agents attention again as a new listing and you may generate some new potential buyers by doing so."

2011-06-06T09:44:00.000-07:00

5 things that affect the value of my home?

Selling your house can be a huge headache. One of the most challenging aspects to deal with is determining your home's value. When it comes to fixing a fair price, homeowners always shoot high. After all, you love your house and you know how much work you've put into it. Won't someone else appreciate it as much as you do?

The short answer is no. An experienced real estate agent will take the emotional factor out of the equation and help you come up with a realistic market value for your house. So when your shocked by the dollar difference between your "value" and their "appraisal" here are a few reasons why they may have appraised it lower than you expected.

1. Location

We've all heard how important "location, location, location" is, and with good reason. A great house in a bad location can knock as much as 50 percent off the

value. If you have the nicest, most expensive house in your average neighborhood, then the value is also going to be much lower than it would be if you had the least expensive house in a nice neighborhood. Other factors, like freeways, proximity to a landfill or sewage treatment center, and train tracks, can knock 10 to 15 percent or more off the value of your home. This is why it's so important to shop location first when you're buying a house; you can always add home improvements, but moving it to another neighborhood isn't going to happen.

2. Outdated Rooms

If your fridge is more than 15 years old and your oven isn't black or stainless steel, then count on listing your house lower than you'd be able to if you had a fully updated kitchen. With the influx of homes on the market right now, people can easily get a home that doesn't need any updating, so why would they choose one that does? If you don't want to update your home in order to sell it, know that outdated rooms can affect the value of your home by up to 10 percent.

3. Renters

Many people don't want to own a home surrounded by rental properties. Although it's a stereotype, tenants often don't keep up the property like an owner would. In this case, the value of your house can go down as much as 15 percent, depending on how many rentals are in close proximity to your home.

4. Major Upgrades

In this market, don't count on getting more for your home if you just upgraded the plumbing, bought a new furnace, or replaced your roof. However, if your home does need those upgrades and you haven't done them, then it's going to knock as much as 20 percent off the value of your home, depending on how severe the upgrade is. Buyers simply don't want to shell out for major upgrades - especially when there is a large pool of other properties to choose from.

5. Fencing

Most people looking to buy a house have kids or pets. If your home doesn't have a fenced backyard, you're going to alienate a huge portion of the market since fenced backyards are essential for keeping kids and pets safe and contained. Not having a fence can knock up to 10 percent off your home's value.

Final Thoughts

Although many of these factors, like location and proximity to renters, are out of your hands, there are plenty of things you can do to increase the value and appeal of your home. For instance, buyers almost always choose light and airy homes over dark ones. Therefore, it's beneficial to do whatever you can to bring a sense of light and space into your home.

Other factors, such as fresh paint and a tidy lawn, make a great first impression as well. The important thing is to be realistic when deciding on a price for your home so that you can move it off the market as quickly as possible.

Heather Levin is a contributor for the Money Crashers personal finance blog and frequently writes about issues like saving money, real estate, home improvement, and frugality. Additionally, Heather blogs on The Greenest Dollar about green living and saving the environment.

Residential Home Sales Remain Strong in May

2011-06-03T15:09:00.000-07:00

Coles Notes Version

May 2010	May 2011
351 sales	423 sales
avg listing on market 36 days	avg listing on market 33 days
avg selling price $295,167	avg selling price $317,932
1300 homes on the market	1378 homes on the market
779 listed in May	762 listed in May

May’s residential home sale market was up 21% from May 2010 with 423 homes selling as compared to 351 homes selling in May last year. The greatest sales activity remained in the $300,000 to $350,000 price range with many first time buyers entering the market. The average number of days to sell lessened from May 2010 when it took 36 days on average to sell as compared to 33 days to sell this indicating an active market environment.

The average residential selling price in May was $317,932 this number was up 8% from May 2010 when the average selling price was $295,167. The increase in the average selling price indicates strong sales activity in the mid to upper price range. Year to date the average selling price stands at $304,664 up 5% from last year at this time when the average price was $289,277.

The average residential price is derived by taking the month’s dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact me @ 381-8455 to do a comparative market analysis.

Inventory levels continued to stabilize in the month of May. Home buyers had 1378 homes to select from at the end of the month that number up slightly from May 2010 when 1300 homes were on the market. REALTORS® listed 762 homes in May that number was down 2% from May 2010 when 779 properties were listed for sale. Year to date 3,164 properties have been listed for sale that number on par with 2010. Inventory levels remain steady providing home buyers with a reasonable number of homes from which to select.

In areas surrounding Saskatoon home sale activity was up 21% from May 2010 with 104 homes selling as compared to 86 homes selling in May 2010. REALTORS® listed 319 properties in these areas in the month of May. That number is up 17% from May 2010 when 272 properties were placed for sale on the market. In the month of May the average number of days to sell lessened from 65 days to sell in May 2010, to 54 days to sell this May.

Optimism in Saskatoon’s economy remains high. This in turn is reflected in the consumer’s willingness to invest both in residential and commercial real estate. The first ever annual Saskatchewan Real Estate Forum held at TUC place last month attracted 460 participants. Attendees represented every sector imaginable from across the province and note worthy was the very high attendance from out of province.

Conference goers were determined to find out what the buzz is in Saskatoon and in our province and why so many people want to buy and invest in Saskatchewan. All of this interest and activity is only the beginning of what we will see in the real estate market in Saskatoon and area in the days and months ahead. In addition renters are looking to purchase and many current home owners are looking to move up in house.

Saskatoon’s new home market remains strong with steady city lot sales taking place. Interest rates are favorable to purchase that next home and job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to increase marginally and for resale prices to move up slightly due to demand.