Saskatoon real estate agents have known for years that home buyers who are shopping for homes online are very interested in viewing photos. As far as they’re concerned, the more photos an online ad offers the better. Survey after survey places photos at the very top of the “what’s important to you” list.It makes sense. Life is busy for all of us and the more information we can receive in advance of making an inquiry, the greater our ability to qualify properties saving ourselves time in the process.

However, until now, most of the evidence has been purely anecdotal without any solid statistical support. I suppose that’s why I found a recent post titled, “The Most Important Number in Listing Marketing,” (no longer available) by Point2’s COO Brendan King so interesting.Point2 is the largest real estate network in the world hosting hundreds of thousands of property listings in their database which are displayed to millions of viewers at Point2Homes each month. They are in a position to deliver definitive answers on the viewing habits of home buyers and that’s exactly what they’ve done with this fascinating study.

Over a thirty day period, Point2 observed the viewing habits of people that visited their website and concluded that “views” of listings and “leads” generated by those listings increased significantly as the number of photos available on a listing increased. On the following graph, the vertical axis represents the number of photos on a listing and the bars represent the number of viewings on a listing, followed by the number of leads which were generated as a result of those views. Clearly, we see properties that feature just one photo generating approximately 5 views and 1.37 leads, while listings displaying 21 or more images received over 77 views and close to 11 leads.

One serious question remains unanswered in this study; in spite of overwhelming evidence that listing photos are a major benefit to both buyers and sellers, why do agents typically under deliver in this area? With today’s technology, it costs nothing to capture more images. Granted, there is a time investment required in capturing, processing and posting the images but it seems marginal to me in light of the potential benefits for both the seller and the seller’s agent.

If you’re thinking of selling your Saskatoon home, why not make the number and the quality of photos part of your selection criteria when choosing an agent? It will pay dividends.

I’m always happy to answer your Saskatoon real estate questions. 

Norm Fisher

Royal LePage Vidorra


I’m hearing that more people are considering renovating their Saskatoon homes as a result of the limited selection of properties available in our new and resale real estate market so this seemed like a timely post.

An interesting video clip appears on New York broker Barbara Corcoran’s blog.“Dump to Dream House” features Barbara on ABC’s Good Morning America and chronicles one home owner’s quest to turn their dump into a dream home and it provides some good tips on how to hire a contractor for home renovation projects.

Barbara had a new tip I hadn’t heard before which I thought was an excellent idea. She suggests that you walk the contactor back to his truck as he leaves your home and takes note of its condition. “If it’s a mess, the job he’s going to run will be a total mess. You have to appreciate that the truck is that contractor’s office and how he manages his truck is exactly how he’s going to manage your job.”Good one Barbara!

Barbara also points to the importance of asking good questions. You might want to check out CMHC’s tips as well which provides a list of questions and other items you should be thinking about when you hire a contractor.

Check Barbara’s appearance on Good Morning America here. (no longer available)

I’m always happy to answer your Saskatoon real estate questions. 

Norm Fisher

Royal LePage Vidorra


Alan Thomarat, Executive Director of the Saskatoon Home Builder's Association made an impassioned plea before the city council on Monday for the availability of more serviced lots in 2007.

Before a full capacity council chamber, Thomarat argued that while Saskatoon has consistently ranked in the top three Canadian cities for economic growth in recent years, we are underperforming miserably as far as new home starts are concerned, ranking last in the country behind Newfoundland and Prince Edward Island.

Thomarat, on behalf of his association and a chamber full of local builders donning white hard hats as a show of their support, made the following recommendations:

  • The city approves servicing plans for 2,000 units of single-family and multi-family serviced land for 2007.
  • Once approved, the city must act quickly to prepare and post appropriate tender calls.
  • That builders be offered the opportunity to develop theme-oriented neighbourhoods in city-owned subdivisions.
  • That the city considers releasing lots to builders prior to servicing if required so that they might be able to work with their customers.
  • That the city work with existing developers in Stonebridge, Rosewood, and Blairmore to mitigate delays, expedite approvals at all levels and ensure that the private development community is not hindered in its effort to serve their builders and customers.
  • That the city assesses the retail value of long-held inventory and discount these properties to levels that are market appropriate to satisfy the need for more affordable lots.
  • That the city work with the industry, community associations, the fire department among others, to develop an aggressive neighbourhood revitalization strategy that includes existing housing stock, enforcing safety requirements, conducting inspections on marginal rental properties, and working with industry stakeholders to develop meaningful infill, core area housing strategies.

Speaking in support of those recommendations, Harry Janzen, Executive Director of the Saskatoon Real Estate Board, provided a statistical overview of the resale real estate market presenting evidence that many consumers wishing to purchase Saskatoon homes are “settling” for homes in outlying communities as a result of low inventories within the city. He reinforced the general belief in the resale industry that many more families are interested in moving to Saskatoon, and many already have, using figures from Statistics Canada which indicates 3,700 families have moved to Saskatchewan since June of last year.

I also had an opportunity to speak in support of our home builders and I expressed the following points to the council:

  • The current lack of resale listings is tied more to increased demand than it is to a low supply. Listings taken through 2006 by Saskatoon REALTORS®, though down slightly from 2005, were actually above the five-year average.
  • That the five year average of unit sales in our “bedroom communities” was up 31% over the previous five-year average indicating that more and more buyers are considering these areas because of low housing inventory in Saskatoon.
  • That many of these people will work and access services in Saskatoon, utilizing our infrastructure while paying property taxes in a different municipality.
  • That a lack of new housing inventory is putting pressure on the resale housing market spurring price increases which are far exceeding income growth in the province.The average price of a Saskatoon home increased over 50% in the last five years while income growth has likely been somewhere below 20%.
  • That Saskatoon is poised to see even larger increases in the coming years if new housing opportunities are not fully explored and exploited.
  • That many prospective home buyers, particularly those at the entry-level are displaced and forced into substandard housing if resale property values are permitted to “skyrocket.”
  • That the current challenges in meeting increased demand can only be met through the development of more land and the construction of new homes. Simple math would indicate that if more families wish to reside in Saskatoon, we’ll need more homes to accommodate them.

Finally, Pearl McNevin, an employee of North Ridge Development Corporation delivered an emotionally charged address on the impact that the current land use policies are having on employees of local builders and their families.

The political will to bring more lots to the market seems to exist. Mayor Don Atchison and a number of Councillors are clearly in favour of capitalizing on this opportunity to grow Saskatoon. Let’s hope that the Land Bank bureaucracy can rise to the challenge and deliver the goods.

I’m always happy to answer your Saskatoon real estate questions. 

Norm Fisher

Royal LePage Vidorra


Teresa Boardman, REALTOR® and well-known blogger from St. Paul Minnesota is no stranger to the blogging scene. She’s been at it longer than most and she’s well known throughout the community making guest appearances on other popular blogs on a regular basis.

She swears that given enough time, science will eventually prove that “woman” represents the beginning of all life, but we certainly can’t accuse her of not believing in equal opportunity. Teresa decided that it was high time male bloggers got a little recognition and today, I’m feeling very proud to have been included as a recipient of her “10 Good Men Award.”

Teresa, you are truly an inspiration! The internet is a pretty big place but somehow you managed to notice this brand new blogger and you took the time to say hi and offer your encouragement. The award is truly appreciated but I am even more thankful that I have had the opportunity to cross paths with you, and others like you. Thank you. Your authority as a blogger is evidenced by the sudden increase in backlinks to my blog that started building today. Now, I need to get to work on building a blog roll of my own.

For my American friends: I do actually know how to spell words like honor and neighborhood. The bonus “U” that you see in these words is a crazy Canuck thing, in case you didn’t know that.

Norm Fisher

Royal LePage Vidorra


You may already be aware that the Saskatoon housing market is experiencing a serious shortage of listing inventory. Currently, we have fewer than 300 active residential listings and buyers are finding it extremely tough to find homes.

Fortunately, this is Saskatoon, and it happens to be January so there is no shortage of building materials for this project.

Gather all of the snow from your best friend’s back yard into one corner of the yard.

Hollow that baby out.

Create some cozy sitting areas complete with carpet covers.

Don’t forget one or two spots where you can catch a few winks.

Bring in the projector, crack a few cool ones, and check out a movie. Apparently, these guys chose Ice Age.

Thanks to James for allowing me to post these images. James is an aspiring photographer from Saskatoon. He’s got a great website that features some of his work.

Please check it out at here.


CNN runs a program on Saturday afternoons called Open House, which touches on topical issues surrounding homeownership. This week’s program carried the title, Open House: Mortgage Meltdown and focused on skyrocketing foreclosure rates across the United States.CNN reported that 1 in 1,000 American homes face foreclosure. Some markets report much higher numbers, like Denver, where 1 in 365 homes face foreclosure actions.

Of course, after several years of aggressive price increases in many U.S. cities, the housing market south of our border took a turn for the worst. The second and third quarters of 2006 were particularly tough and many people saw substantial amounts of their home equity washed away. Some will tell you that the worst is over and year-end numbers seem to indicate that things are turning around but even if it is over, a significant amount of damage remains.I’m hearing stories every day about people who are buried in their homes with a much higher level of mortgage debt than they can realistically sell their homes for. The foreclosure numbers speak for themselves.

In my opinion, one of the biggest contributors to financial hardship is our willingness to continuously borrow against the equity which we’ve built in our homes. The problem is particularly bad in the U.S. where lenders are constantly beating the drum to “cash out your equity,” or “consolidate your debt.”People have financed their homes to the absolute max and in some cases, beyond the property’s resale value. When interest rates creep up as they have in the U.S. it suddenly gets very difficult to manage that debt.

Yesterday, a story published in the Star Phoenix with the headline, Mortgage market robust going into 2007 spoke of all the new mortgage options available in Canada which will “stimulate buying activity in the new year. ”40-year mortgages! Interest-only mortgages! 100% loan to value mortgages! Yay! Most of these wonderful opportunities come with the ultimate risk of living in the poor house. We shouldn’t be looking for ways to slow our opportunity to build equity.

In recent years, Saskatoon has experienced higher than normal appreciation in housing prices. All indicators suggest that this trend will continue for some time. However, we are wise to remember that price increases above the norm don’t often continue forever. At some point, it stops, and often prices will decline after long periods of growth. We would be wise to make every effort to retain as much of our home equity as possible, avoid “cashing out” and other “attractive” financing opportunities that allow us to treat our homes as a source of income, or discourage us from the opportunity to be free of debt.

I'm always happy to answer your real estate questions.

Norm Fisher

Royal LePage Vidorra


It’s everywhere! You can hardly open a newspaper without encountering good news about Saskatoon’s growing economy. Some are even starting to use the boom word. Perhaps what’s most striking is that I’m hearing this news on a daily basis from people who reside outside of the province, would-be investors who are obviously catching wind of all of the good things happening in Saskatchewan, and here in Saskatoon.

The latest bit of good news for Saskatoon is the recently released Statistics Canada Labour Force Survey which tells us that there were 9,800 more people working in Saskatoon at the end of 2006, as compared to the same time in 2005. Across the province of Saskatchewan, we see an increase in the workforce of 22,800 people.

So, where are the people coming from to fill these positions? Perhaps we’re finally getting our lazy people off of the couch and into the workforce, but probably not. These people are coming to Saskatoon from all regions of Canada. Saskatoon is on the grow and an abundance of jobs in construction, agriculture, science, trade and services, and the mining, oil and gas industries is bringing people back home to this province. Talk to any REALTOR® and they’ll tell you what I’m telling you; they have never been dealing with more out of province prospects than they are right now.

Managing this opportunity for growth will be just one of the bigger challenges that we face in Saskatchewan over the coming years. How do we continue to create opportunities which encourage interest in our province? Dwight Percy writes an excellent column titled, “It’s a Make or Break Year for Saskatchewan” which is certainly worth a read.

What about housing? Today, the MLS® system is showing only 258 active listings of houses and condos across all areas of Saskatoon and all price ranges. Based solely on my recent effort to arrange showings of “active listings” I’m going to guess that 30-40% of these properties are under contract, and technically, no longer available.

Part of the challenge that we face in capitalizing on this interest is having adequate housing to accommodate people. The city of Saskatoon needs to take a serious look at its land development policy and find a way to make more building lots available, and they need to do it fast.

Last week, I received a call from Alan Thomarat, executive director of the Saskatoon and Region Home Builders Association. Alan asked me to join him and Harry Janzen, executive director of the Saskatoon Region Association of REALTORS® at City Council this Monday evening to speak to the council about the potential problems which could arise from our current situation. I’ve agreed to do so.

I don’t know much about land development and I’m not an expert in municipal growth management but I do have a pretty good handle on basic mathematics, the Saskatoon real estate market and the principle of supply and demand. It’s quite simple really; if we have more families moving to Saskatoon we need more homes to put them in. If we don’t meet that growing need, we can count on house prices to rise faster than incomes leaving many of our younger families and less affluent citizens out in the cold and that doesn’t sound like good news to me.

Norm Fisher

Royal LePage Vidorra


This is part two of Special Considerations for Saskatoon Condo Buyers. 

In part one of this post, I discuss the various documents that are normally available for your review when purchasing a condominium. These documents are traditionally requested by the buyer as part of their offer and are provided following acceptance of your offer. If you have made your offer through a REALTOR® in Saskatchewan it will include terms that provide a “right to rescind” the offer should you discover facts about the condominium corporation which cause you to want out of the deal. The mandatory Schedule “C” used by real estate registrants in our province provides ten days for the seller to deliver the documents and five days for the buyer to review them. Part two is an overview of what those documents are.

The current Bylaws of the Condominium Corporation

The Bylaws define how the condominium corporation is structured and managed, including details on how the board of directors is formed and what authority the board has to act on behalf of the condo corporation. It should explain your rights as a voting partner in the corporation. It also details the rules and regulations of the corporation which all unit owners must agree to as well as what remedies exist when someone breaks those rules.

The latest financial statements of the Condominium Corporation and the last audited statements

This is an overview of the financial affairs of the condominium corporation including a statement of income and expense. You should be able to determine what assets are owned by the corporation, what liabilities exist and how the corporation has been utilizing the contributions made by its unit owners. Complex financial statements should probably be reviewed by your accountant who will have some expertise in identifying area of weakness or concern.

The current policy of insurance

The Condominium Property Act, 1993 requires that condo corporations carry insurance sufficient to cover the replacement cost of buildings and improvement in the event that a condo property is destroyed.

Any current management agreement regarding the Condominium Corporation

If the condo corporation has elected to use a property management service to perform certain functions on behalf of the corporation, details of that arrangement should be provided to you.

The current recent budget of the Condominium Corporation

An overview of estimated expenses of the condo corporation for the current year.

Written confirmation of parking/storage facilities and exclusive use areas included in the purchase price, any related costs or charges and any special rules regarding those areas

This one is pretty obvious but do be certain that you receive written confirmation of any areas which are designated for your exclusive use. In most cases, the title to your unit only includes your actual unit. Parking stalls are most often part of the common area, portions of which are designated for exclusive use of specific residents. You must have written confirmation of your right to use a specific parking stall.

A current Estoppel Certificate issued by the Condominium Corporation pursuant to the regulations of The Condominium Property Act, 1993.

The Estoppel Certificate will normally include details on the following items: 

· the amount of the monthly contribution (condo fees) levied against the unit you are purchasing;

· the extent to which that contribution has been paid;

· the manner in which the contribution must be paid;

· the portion of the contribution which is deposited to the reserve fund;

· the current balance of the reserve fund;

· proposed amendments to the Bylaws of the Condominium Corporation;

· amounts of any special levies which may be proposed which would affect the unit you are purchasing and;

· in most cases, exclusive use provisions for parking and storage are detailed here.

Reserve Fund Study

Perhaps the most difficult item to assess all of those detailed above is the reserve fund. If a condo corporation encounters a significant expenditure that cannot be adequately covered by reserve funds, the corporation will issue a cash call and unit owners will be required to make up the difference. One cannot simply look at the balance of the fund and say, “Oh, that’s a lot of money,” or “That’s not very much money.” One must consider the overall condition of building and improvements and any possible costs which the corporation may encounter in the future to determine if the reserves are sufficient, and even then, it’s often the best guess for most people. This is a particular challenge with larger projects like high rise condominiums. I recently assisted a purchaser who bought a condo in downtown Saskatoon high rise. One of the budget items for this condominium was new caulking for the windows. The estimated cost was in the range of $70,000. This is something neither he nor I could have possibly considered or understood had that item not been disclosed to us. Apparently, neither could the condo corporation and consequently, this item was dealt with through a cash call.

Recent changes to the Condominium Corporation Act requires all condo corporations with 12 units or more conduct a reserve fund study by January 31, 2008. The study must be updated every ten years thereafter. The study will be completed by an engineer who will assess the remaining life expectancy of the major components of the buildings and improvements, estimate the future cost to maintain, repair or replace those components and determine if the current reserves and the monthly contributions are sufficient to cover those costs. Many corporations have already completed their surveys. When shopping for a condo, you may prefer to consider those condos where the reserve study has already been completed, particularly if you’re purchasing part of a large project like a high rise.

Other Actions You Might Take

  • Have the property inspected by a professional inspector who is qualified to assess the condition of major components of the buildings.
  • Speak with directors of the condo corporation and ask questions about improvements they’ve been discussing. Ask specifically if there are pending decisions on major financial items.
  • Speak with some of the current owners.
  • Start reading the Condominium Corporation Act when you’ve decided to purchase a condo.
  • Ask if a reserve fund study has been completed and if so, make your offer conditional upon receiving, reviewing and approving it.
  • Work with an agent who is experienced in condo purchases and can guide you through this complex process.

Norm Fisher

Royal LePage Vidorra


When you purchase a condominium you’re buying more than just a home. You’re also purchasing shares in a corporation that is responsible for managing the affairs of the property. Your “share” of the corporation is normally based on the size of your condo unit, as a percentage of the whole. These shares are often referred to as a “unit factor.”

Of course, you enjoy exclusive use of your condo unit and pretty much everything that goes on inside of it, including improvements you wish to make are your responsibility and are done at your discretion provided these things do not contravene the Bylaws of the Condominium Corporation.

In addition to implementing and enforcing Bylaws for the condominium, the corporation is responsible for setting budgets, record keeping, maintaining adequate insurance on the building and other improvements and maintaining the property. Each unit owner makes a monthly contribution, based on their unit factor, to cover expenses incurred by the corporation. In most cases, some money is also collected and set aside for “reserves,” which will generally be used for unexpected expenses and expenditures that are not included in the general operating budget. Like any other property, major expenses are incurred when a roof needs to be replaced or a boiler system fails. Generally, these items are paid from reserves. If the reserve fund cannot cover the expenditure unitholders are called upon to make up the difference through what’s known as a “cash call.”

Just like companies that operate in the market place, some condo corporations manage the affairs of their property better than others. As a prospective buyer, you owe it to yourself to make certain that you have a reasonably good idea of what you’re getting yourself into. The doctrine of caveat emptor or buyer beware applies as much to condos as any other type of home and prudent buyers take appropriate actions to protect their interests.

If you offer on a condo unit through a REALTOR® some actions have already been taken to help protect you. All real estate registrants are required to use mandatory forms as directed by the Bylaws of the Saskatchewan Real Estate Commission. One of those forms is called a Schedule “C” Special Terms for Contract of Purchase and Sale of a Condominium Unit. This form, when completed by a buyer and accepted by the seller, binds the seller to provide you with various documents within 10 days of acceptance. You may review these documents and if you are concerned about anything you discover to the extent that you wish to cancel the agreement, you may do so by serving written notice to the seller of your intention to rescind your offer. That written notice must be delivered to the seller within 5 days of receipt of the documents.

The Schedule “C” requires the seller to provide the buyer with the following documents:

  • the current Bylaws of the Condominium Corporation;
  • the latest financial statements of the Condominium Corporation and the last audited statements;
  • the current policy of insurance;
  • any current management agreement regarding the Condominium Corporation;
  • the current recent budget of the Condominium Corporation;
  • written confirmation of parking/storage facilities and exclusive use areas included in the purchase price, any related costs or charges and any special rules regarding those areas; and
  • a current Estoppel Certificate issued by the Condominium Corporation pursuant to the regulations of The Condominium Property Act, 1993.

 In my next post, I’ll go a little deeper on these documents, explaining what the purpose of each is and what steps you may take to protect yourself.

Norm Fisher

Royal LePage Vidorra


I did a routine search of today’s MLS® listings at about 4:00 pm. There are two new listings showing up in all of Area 1, which for Saskatoon real estate agents includes all neighbourhoods which are East of Circle Drive East. Both of these new listings are in Briarwood. One is priced at only $248,000; the other at $419,900. This small number of listings comes as no surprise. It seems to be the way it has been lately.

Meantime, the number of potential buyers continues to mount. There are plenty of motivated buyers waiting in the wings for these types of premium homes. One of those buyers is certainly prepared to pay more than anyone else for one of these two homes. At least, that’s pretty much how it works in most cases. The only problem is, both homes are currently sold, pending unknown conditions. At the time I write this blog, neither listing has yet found its way to MLS® Online. The listings will appear there tomorrow, a day late and a dollar short.

Of course, the question running through my mind is, how much money did these sellers miss out on by accepting an offer before most of the market could even get away from work? This, we’ll never know. Perhaps they somehow managed to connect with that buyer who was willing to pay the most, but I doubt it. Why would anyone accept an offer before the market knows their house is for sale? To me, it’s simply mind-boggling. Any thoughts?

Norm Fisher

Royal LePage Vidorra


If you read the story in today’s Star Phoenix titled, “City housing price surges: Average sale price of Saskatoon house tops $160,000,” you might be a little confused, especially if you’ve been reading my blog or reviewing my statistics. I’d like to make a small contribution to this discussion and add just a couple of the missing pieces.

The “year-end average figure of $160,577” which is related to “houses” in this story, actually represents the average sale price of Saskatoon homes across all of 2006.

Included in that average are condominiums and mobile homes. The average selling price of a Saskatoon house actually came in at approximately $171,000 for all of 2006.

Of course, the other potential problem with one-year averages is that they are often skewed by some old data, particularly in markets where prices are changing rapidly. Those houses which sold at a lower price at the start of 2006 tend to skew the average down and give a slightly distorted picture of what one might expect to pay for an average house in today’s market. This was one of the primary reasons that I added six-month averages to myAverage Sale Price of Saskatoon Houses page and my Saskatoon Neighbourhood – Profiles and Price Trends page. In a market which is changing rapidly, the six-month average represents a more realistic reflection of current market prices.

Having said all of that, I’ll note that the average selling price of a house in Saskatoon over the last six months is $176,153, substantially higher than you might have guessed from reading this story. Given the fact that current listing inventories are extremely low, it’s reasonable to assume that the average is closer to $180,000 at this time.

Unfortunately, I cannot provide you with a link to this story as it didn’t make the Star Phoenix website today. Instead, they feature the article, “Edward Jones at home in Sask,” which discusses the investment brokerages plan to open offices “in our community” so that new sales people can go “door knocking in neighbourhoods.” I’d like to thank the Star Phoenix for the warning.

Norm Fisher Royal LePage Vidorra


Saskatoon is obviously gaining a national reputation as a hot spot. There is little doubt that our city is doing well and the Saskatoon real estate market is healthy and strong showing several years of decent appreciation. At the same time, many of Canada’s major markets have been showing signs of cooling off, so of course, Saskatoon is standing out amongst them all.

Lately, there has been a dramatic increase in the number of investors who are expressing interest in adding some Saskatoon real estate to their portfolios. My strong Internet presence and high search engine visibility brings me lots of inquiries from serious, and sometimes, not so serious buyers. I’ve dealt with many email inquiries from prospective investors over the last two weeks.

I have a few tips for out of province investors which I sincerely hope will be helpful.

All successful investors which I’ve met have a preference for certain types of properties and specific goals they wish to achieve. Some of the investors I’ve encountered lately seem to be lacking that focus and express interest in everything from $50,000 condos to $50,000,000 shopping malls. It’s difficult for an agent to be effective for you when you don’t know what you want. Be open to discussing your objectives with your agent. It helps us to help you effectively. Talk to some agents on the phone. Your real estate investment is very serious business and email communications often lead to confusion. For something this important, we should be talking. If we can’t do it face to face, let’s speak on the phone. You can reach me toll-free at 1-888-978-6676.

Some of those I’ve corresponded with by email seems to have a need to impress with tales of great wealth. This kind of talk, coming from someone I’ve never met makes me want to proceed very cautiously and sometimes not at all. There are so many scams out there today that we have to be careful. Promises of big business possibilities during an initial email contact are going to be viewed with suspicion.

I’m most impressed by a few thoughtful questions. Even if you already know the answers, doing so tells me that you know what you need to know, and it gives you an opportunity to find out if I know anything. If you don’t care whether I know the market or not, it causes me to question how serious you are.

Be prepared to forward a deposit. As I said earlier, there are buyers all over the place here and most of them are ready to act when the right property comes up. If you and your chequebook are 500 miles away, we really don’t stand a chance. Having an adequate deposit in trust, in Saskatoon is the only way that you can be ready. Real estate trust funds of up to $5,000 are insured by the Real Estate Assurance Fund in Saskatchewan. If you’re dealing with a licensed broker your money is placed in trust where it’s safe and ready to work for you when the time is right.

Be prepared to conduct your transactions in accordance with local customs. Real estate is done in many ways, in many different places. Your offers will be taken most seriously if you seek advice from your agent on how things work in the Saskatoon market.

Do a little bit of research on our real estate market. Lately, I’ve been asked for things that no longer exist in this market, and people have actually been put off when I told them so. 

  • Eastside luxury homes with good rental potential priced between $150,000 and $175,000.
  • Motivated sellers who are anxious to sell at a bargain price.
  • Quality residential revenue homes that will deliver positive cash flow with a 15% down payment.

Unfortunately, none of these things exist in the current Saskatoon real estate market. If that’s what you need to meet your goals, we may as well discuss it now.

Good luck.

Norm Fisher

Royal LePage Vidorra

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