Michael Lobsinger, River Landing developer to speak in Saskatoon

Michael Lobsinger, Lake Placid developmentsWhen the City asked for developers to consider an exciting new “Urban Village” concept at River Landing in Saskatoon’s Central Business District, the call was answered by Michael Lobsinger, a former Saskatoon resident and now a successful real estate developer.


On Wednesday, March 12, Mr. Michael E. Lobsinger, President CEO, Lake Placid Group, will speak to the Saskatoon business community at the 14th Annual Traders Luncheon in support of Junior Achievement of Saskatchewan. He will discuss the challenges and rewards in building in Canada’s hottest markets – Calgary and Saskatoon.


Lunch begins at 12:00 PM at the Sheraton Cavalier in Saskatoon with the speech beginning at 12:30 PM.


Flyer with additional event details.

Ticket order form.


Thanks to Darren Hill, President and CEO of Junior Achievement of Saskatchewan for the heads up on this event.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatchewan income growth: the good news and the bad news

Statistics Canada’s latest income report contains some good news for the province. Saskatchewan led the country for overall income growth seeing average weekly earnings increase by 5.4%, compared to the 3.1% growth experienced nationally. Average weekly earnings in the province rose to $742.62 in December of 2007, from $704.79 in December of 2006. Saskatchewan also saw one of the largest decreases in Employment Insurance recipients.


If you’re looking for the negative nugget in this story, you could point to the fact that average weekly incomes in Saskatchewan still lag behind the national average of $782.02 and well below Alberta, the province we seem desperate to become where the average weekly income is $860.31.


Hopefully with the momentum that Saskatchewan seems to have 2008 will be the year that incomes catch up with the rest of the country.


Read the Star Phoenix coverage here

Read the StatsCan report here

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon has one of the most generous condo conversion policies

It seems that Saskatoon has one of the most generous condo conversion policies, if you’re a landlord that is.


Saskatoon city administrators are working hard to bring about a policy change in the city of Saskatoon. They’ve recommended a number of changes that they say would protect tenants from being displaced at times when vacancy rates are exceptionally low.


Their research had them comparing the policies which exist in other Canadian municipalities that have experienced real estate booms in recent years and they found that in most areas it’s quite a bit tougher to convert apartments to condos when rental conditions are tight. Vancouver, Victoria, Ottawa, and Kelowna all prohibit conversions when vacancies fall below a minimum threshold which ranges from 2-4%. No such policy exists in Saskatoon.


The executive committee responsible for reviewing recommendations brought forward by city administrators has tabled discussion on the suggested policy changes until after a March 11 court challenge initiated by tenants of Saskatoon’s Milroy Apartments which was recently approved for conversion.


Read the Star Phoenix coverage here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon real estate: Week in review (February 18-22 2008)

On the surface, Saskatoon real estate activity this past week looked fairly similar to the week before. We saw about the same number of new residential listings enter the market and total active listings held steady at 364 units including 189 houses (single-family homes) and 135 condominiums. 98 Saskatoon homes found a buyer, up just a smidge from last week.


Just the same, it was a week for sellers. Strong demand continued to provide them with almost every advantage in spite of inventory levels being up about 40% over last year. The percentage of homes selling at, or above the asking price climbed to almost 60% and the average overbid took a substantial jump, breaking the five digit mark once again. Nine of the twenty five overbid sales were above the asking price by at least $10,000 and one exceeded the asking price by $52,500. Overall, activity was brisker and more aggressive than it was during the same week last year.


The average underbid on the 40 properties which traded below the asking price was also strong at nearly $9,000. These numbers were skewed upwards by one area three properties priced at nearly a million dollars which sold $110,000 below the list price.


The average selling price of a Saskatoon home reached its highest point for any single week at $275,271.

Saskatoon real estate: Week in review (February 18-22)

Notable sales


  • A war-time one and one half storey (1,000’) in the Exhibition area, no garage fetches $261,000.
  • 740’ apartment on 8th Street goes for $175,000.
  • Adelaide Churchill bungalow of (1100’) requiring upgrades galore sells $52,500 over list price at $327,500.
  • Haultain bungalow (1,074’) with no garage goes for $371,500.
  • 780’ apartment in Riversdale trades at $159,500.
  • A Confederation Park bungalow (1,080’) without a garage can now set you back $270,000.

See a Google map displaying the boundaries of Saskatoon real estate “areas” here
Data collection and calculation for our statistical reports

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon's Bessborough Hotel under new ownership

Saskatoon's Bessborough Hotel under new ownership

Saskatoon’s landmark hotel, the Delta Bessborough is now under new ownership. The British Columbia Investment Corporation (bcIMC) took ownership of the historic hotel on February 1 but just announced the acquisition recently.


The new owners took a pass on disclosing the purchase price but did indicate that they plan on investing an additional million dollars in “upgrades” to be completed this year.


The Bessborough Hotel was built between 1928 and 1932 by the Canadian National Railway. A severely depressed economy delayed the hotel’s opening until late in 1935 when its first guest was welcomed. The Baltzan family acquired the hotel in 1972 and eventually passed control to Canadian Pacific Hotels in the 1980’s. It was purchased by the Legacy Hotels Real Estate Investment Trust in 1998 and a $9,000,000 restoration project, intended to reclaim many of the hotel’s historical features was undertaken in 1999. The 225 room four star hotel graces the west bank of the South Saskatchewan River in downtown Saskatoon.


bcIMC manages a pension fund which finances retirement benefits of some public employees in British Columbia including health-care workers, firefighters and teachers. They also own the Radisson Hotel and the Saskatoon Inn. With all three hotels in their portfolio they’ve got quite a handle on the upper end market in Saskatoon.


Any guesses on the price tag of this magnificent piece of Saskatoon?

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate