I'm celebrating that fact that the value of my home went down! Silly right? Maybe not!



Oh, excuse me, I'm having a little celebration here because I just found out that the value of my house, came down 10%.
I know that might sound a little bit crazy but hear me out.
When I bought this home three years ago, I paid $500,000 for it, and at the time, my ideal forever home was actually $600,000 but I couldn't quite afford it so I opted in, at the $500,000 mark, and lo and behold, over the next three years, the real estate market dropped about 10% in the single-family homes category.
So my $500,000 home is now only worth 450,000. Bummer, but hold on, hear me out, there are two sides to this equation. In the meantime, the $600,000 house that I would have loved to have bought then, also dropped 10% in value. So today, I can buy that house for $540,000.
So, where three years ago there was a 100,000 dollars spread between the house I bought, and my ideal home, today the spread is only $90,000, thanks to the fact that the market came down.
So, if you're moving within the same market and you're making an upward move, especially if it's a modestly upward move, you may be better off to sell your current home at a loss today and take advantage of the loss that the other seller on the more expensive home, is also going to incur.
You could wait for the market to recover and for that $450,000 house to go back up to five. But in the meantime that $540,000 house is likely to go back up to 600,000.
So make the move now. $10,000 free equity in your pocket, that's something to celebrate


I’ve upped my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions. hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-241-6676 or email me at norm at

Norm Fisher

Royal LePage Vidorra


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