When I first entered the real estate business in 1993 it was common to find improvements in homes that were completed without a required permit. At the time, it just wasn’t a big deal to move ahead with your basement development without one. Almost everyone did it. In recent years, the failure to obtain proper [...]
On February 16, Finance Minister Jim Flaherty announced new rules that affect mortgage lenders and borrowers starting on April 19 of this year. One of the changes requires that buyers qualify for their high-ratio mortgage based on the “five-year fixed rate” even if their mortgage payments are actually calculated on an available lower rate. In [...]
Remax released it’s 2010 Market Trends Report today stating that “healthy levels” of inventory and demand that is gaining momentum are moving the Saskatoon real estate market towards a “full recovery.” Other tidbits from the Saskatoon section of the report include the following: While sales are still off of last year’s numbers average prices continue [...]
I can’t imagine that it would come as much of a surprise to anyone that the cost of home ownership in Saskatoon has skyrocketed in recent years. According to the recently released “6th Annual Demographia International Housing Affordability Survey” owning a Saskatoon home priced at the median in Q3/2009 would have cost about 4.4 times [...]
Are you at least a little bit curious about the current price trends for real estate in your neighbourhood? We’ve been putting in some OT over the past couple of days to bring you the latest look into the trends for each Saskatoon area. Those numbers are now available on our “Saskatoon neighbourhoods” pages, but [...]
TD Bank Financial Group released a “Resale Housing Outlook” yesterday that provides some insights into the potential consequences of the quick recovery that the Canadian housing market experienced over the past year. It’s a pretty interesting, “where we’ve been, where we may be headed” report. Some of the ideas that caught my attention from the [...]
Maybe I’m getting old, but I’m not sure I get the “Twitter” thing. I first signed up to use this “social media” tool a little more than a year ago. I think I gave it a fair shot (96 tweets and a lot of listening) but it just doesn’t seem to work for me. I’m [...]
Some call it a report on the obvious, while others see it as big news. No matter how you view the Frontier Centre for Public Policy’s International Housing Affordability Survey, you’d be hard pressed to make a convincing argument that housing affordability hasn’t suffered a serious blow in Saskatoon over the past couple of years. [...]
CNN: The Federal Reserve is expected to overhaul lending rules on Monday in an effort to prevent another mortgage crisis. Good idea Ben! It would be foolhardy to encourage a second mortgage crisis while you’re busy dealing with the first one. I’m always happy to answer your Saskatoon real estate questions. All of my contact [...]
Earlier today, I was speaking with one of my colleagues, Bruce Claggett, who raised the question, “I wonder how many of the homes for sale in Saskatoon are vacant?” Our new MLS system didn’t provide a method of searching by occupancy, so I dropped SRAR an email and suggested that this would be a valuable [...]
The cost of building a new home in Canada increased 6.2%, year over year, according to the New House Price Index Report (no longer available) released today by Statistics Canada. “Regionally, prices again rose at the fastest pace in Saskatoon, which led the nation with an annual price increase of 45.1%. On a month-over-month basis, housing [...]
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