Royal LePage's 11th Annual Fun Spiel for Interval House – November 18

On Sunday, November 18, 2012, Royal LePage will hold its 11th annual curling Fun Spiel. Proceeds from the spiel will go to support Interval House violence intervention programs in Saskatoon, designed to end the cycle of violence.

Saskatoon Interval House is an emergency, temporary shelter for women and their children who require safe accommodation. Royal LePage Saskatoon Real Estate and Royal LePage Shelter Foundation support Saskatoon Interval House and its important work in our community.

We are grateful for your past support and hope you will help us again this year by making a donation of a prize or prizes to be given away at the Fun Spiel. Your donation of prizes will help both our community and your business. All proceeds from the Fun Spiel go to Saskatoon Interval House and your business will be acknowledged both at the event and in the Star Phoenix REALTOR® Showcase.

You may also choose to enter a team to participate in this fun event or members of your organization may enter as individuals and will be put on a team. There is no charge to register. Curlers are asked to raise a minimum of $100 per person or $400 per team. We are looking for a wide range of curlers and non-curlers who just want to join us for an afternoon of fun on ice, playing 3 games of 4 ends each. We expect to have fun, as the name suggests, as well as raise a substantial sum of money for Saskatoon Interval House programs. This day of fun has consistently topped the $10,000 mark for funds raised. We’d love to crack $15K this year.

If you’d like to enter a team, be added to an existing team or make a donation of either cash or prizes please connect with me. All of my contact information is here.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon real estate week in review: October 21-27, 2012

Saskatoon real estate sales came back from what felt like a brutal slide last week as local agents reported 77 firm house and condo deals to the multiple listing service®. That’s a gain of 24 sales compared to last week, up just one from the same week a year ago. New MLS® listings continued to cool. Just 99 properties were added to the system. That’s the smallest number of new Saskatoon real estate listings since January. Those numbers were lower than last week by 17 but ahead of the same week last year by five.

Click the image for a larger version of the graph.

Residential real estate inventory on the Saskatoon multiple listing service® slipped lower this week to 1168. While that number is down just 24 properties from levels seen a week ago it is the lowest number of listings available since May. This week’s final number comes in with about 47 fewer properties available than we could find on the system at the same point in 2011. Today, buyers can find 702 single-family homes and 377 condos on the MLS®. Last year at this time we had 747 single-family homes and 394 condominiums showing an active status.

Click the image for a larger version of the graph.

Prices didn’t see much change this week by any of the measures we track except the weekly median price which slipped lower by more than eighteen thousand dollars to $301,500. In spite of an unusually low count of Saskatoon home sales above the $500,000 mark, the weekly average sale price fell just six thousand dollars to $320,311. Meanwhile, the six-week average sale price remained steady on a weekly basis at $326,521 which is actually lower than it was a year ago by a few hundred dollars. This would be the first week this year where the six-week average price has slipped lower on an annual basis. At the same time, the four-week median sale price managed to inch up by one thousand dollars this week to $321,000 to claim an annual gain of roughly eleven thousand dollars.

Click the image for a larger version of the graph.

For the second week in a row, overbid sales were a complete non-factor. Ten lucky Saskatoon home sellers did manage to obtain a full price offers to wrap up a deal on their home while 67 of this week’s 77 sales were reported to have sold below the asking price by an average of $8,843.

Other notable MLS® activity this week included 46 cancelled and withdrawn listings, 8 expired listings and 32 price adjustments.

Click the image for a larger version of the chart.

Highlights from the news this past week

Station 20 West in Saskatoon opens its doors – Star Phoenix
Are we worrying ourselves into a housing crash? – Financial Post
Flaherty eyes privatization of CMHC – Globe and Mail
Canadians would feel the squeeze of higher interest rates: BMO – Financial Post
Wretched excess a recurring theme in these home ads – Star Phoenix
Higher mortgage rates would hit households hard: BMO – Globe and Mail
What if interest rates went even lower? – Financial Post
Carney digs in heels on consumer debt – Globe and Mail
Home prices 3.6% higher in September than a year ago – Globe and Mail
Bank of Canada’s Carney says rate hikes will be gradual – Reuter’s Canada
Home ownership still achievable – Star Phoenix

A map displaying the boundaries of Saskatoon real estate areas is here.
An overview of data collection and calculation practices for our statistical reports is here.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here now.

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.

Norm Fisher
Royal LePage Saskatoon Real Estate

Overheard: "I get more litigation work from private deals gone wrong…"

A brief twitter discussion that I picked up on this morning follows. The tweets that are repeated have a direct reply attached to them.


https://twitter.com/andremougeot/status/258972503496617985

Brad raises an interesting point.

Digging a bit deeper, name one thing for me that you didn’t become better at with practice and experience. I can’t think of anything. At least anything that matters much.

I reflect back to my very first job. I washed dishes at Bonanza Steak House before I was out of school. I’ll never forget those busy dinner rushes and how the dishes would pile up behind me as I struggled to catch up. During my first few shifts buckets of dishes flowed off of the on-ramp and down the hallway. It was hot, messy and fast paced. It took some time to get a system down and to reach a point where I could push those dishes through as fast as the bus boys could carry them in. I eventually became a pretty good dishwasher but it wasn’t automatic.

Anyone can wash dishes but the guy who has been around awhile will do it faster, better and in a more cost-effective manner than the new man on the line.

The same thing applies to selling houses and everything else for that matter. Anyone can do it. The question is, how well can they do it and at what cost?

If you’re the least bit concerned about trading what’s likely your most valuable asset on your own, we’d like to talk to you and provide a complimentary consultation to explain precisely how we’ll help you meet your goals at a reasonable cost with as few inconveniences as possible. All of my contact info is here.

For our fee, we’ll utilize the experience we’ve gained through hundreds of real estate sales to ensure that your home is well presented to the largest number of buyers we can reach with the objective of generating stronger offers for you.

At the same time, we’ll give you our best advice on dealing with buyers, agents, offers, counter-offers, amendments, contract terms, conditions, deposits, adjustments, representations, warranties, disclosures, inspectors and inspections, appraisals and appraisers, municipal compliance issues, costs, mortgages, closings and disbursements with the objective of moving you through this experience with less stress and worry.

Most importantly, we’ll put our expertise to work to keep you out of court.

If you decide to go it alone I won’t hold it against you but allow me to recommend a good lawyer just in case. Brad Jamieson has a lot of experience litigating on behalf of private real estate traders. I would expect he’s gotten very good at it.

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.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon real estate week in review: October 14-20, 2012

Saskatoon real estate sales headed in a downward direction this week and reached their lowest point since the third week of January. Local agents reported just 53 firm house and condo sales to the Saskatoon multiple listing service®, down 25 sales from the previous week and 11 fewer than those recorded during the same week last year. Meanwhile, new listings remained stable on a week-over-week basis as 116 houses and condos were added to MLS®, an increase of 18 units from the same period last year.

Click the image for a larger version of the graph.

The inventory of active Saskatoon MLS® listings in the residential category continued to hold pretty steady, moving down by just seven properties from the close of last week to reach 1192. That’s still slightly fewer homes than were available at the same time in 2011 when 1225 Saskatoon homes displayed an active status on the MLS® system. Today’s tallies show 725 single-family homes and 376 condominiums. Looking back to last year, these two categories of housing stood at 746 and 411 respectively.  While the inventory levels are remaining stable, declining sales effectively increases inventory, from a “months of supply” perspective. Over September, we saw our supply of inventory rise to 3.7 months, up from 3.3 months at the end of August, and 2.8 months at the close of July. By anyone’s measure, that moves our inventory level into balanced territory.

Click the image for a larger version of the graph.

Strong activity in the entry level market pushed the median sale price of a Saskatoon home lower by sixteen thousand dollars to $319,900 this week. The entry-level market had such a strong showing, relative to homes priced above $400K that even a sale above the million dollar mark couldn’t keep the average sale price for the week from slipping lower. It fell about $5K to $326,627. The six-week average price of a Saskatoon home came in just slightly lower at $326,197 to reach its lowest point since April. That represents a decline of over six thousand dollars from last week and an annual gain of just a few hundred dollars, the narrowest annual gain that I can recall for 2012. The four-week median moved in the opposite direction gaining five thousand dollars on the week to reach $320K and finished ahead of where it was at this time last year by twelve thousand dollars.

Click the image for a larger version of the graph.

Overbid sales were completely absent from the Saskatoon real estate sales landscape but 11 sellers did manage to secure an offer at their full asking price. The other 42 recorded sales closed at a price below the seller’s list price by an average of $9,231.

Other notable MLS® activity this week included 58 cancelled and withdrawn listings, 13 expired listings and just 58 price adjustments.

Click the image for a larger version of the chart.

Highlights from the news this past week

Home sales rise for first time since March but down 15% year-over-year – Financial Post
Canadian debt soars into danger zone – Globe and Mail
Rate hikes needed to tame swelling consumer debt, bank warns – Globe and Mail
We’re $7,900 richer than thought, but deeper in debt – Globe and Mail
‘This is not the Great Depression’: Mark Carney – Globe and Mail
Year-over-year home sales plunge 15.1 percent in September – Globe and Mail
Canada’s housing markets: Who’s winning, who’s losing – Globe and Mail
Commercial real estate market climbs across Canada – Financial Post

A map displaying the boundaries of Saskatoon real estate areas is here.

An overview of data collection and calculation practices for our statistical reports is here.
Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here now.

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.

Norm Fisher
Royal LePage Saskatoon Real Estate

Canadian homes sales stronger than last month but weaker than last September: CREA

The Canadian Real Estate Association (CREA), released national sales statistics for the month of September, 2012 today. According to CREA, national resale housing activity rebounded slightly in September 2012, marking the first monthly increase since the spring but sales remained lower than the same month last year.

Highlights of CREA’s report    

  • Home sales up 2.5% from August to September.
  • Actual (not seasonally adjusted) activity down 15.1% from September 2011.
  • Number of newly listed homes up 6.5% from August to September.
  • Market remains firmly in balanced territory, but conditions have eased.
  • National average home price up 1.1% on a year-over-year basis in September.
  • The MLS® HPI rose 3.9% in September, its smallest gain since May 2011.

Read the entire report on Canadian MLS sales for September 2012.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

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.

Norm Fisher
Royal LePage Saskatoon Real Estate