Posted in: market stats , real estate , REALTOR , REALTORS® , Regina Real Estate , regina, Saskatchewan , top selling agents YQR , YQR
“SASKATCHEWAN REAL ESTATE MARKETS FARE BETTER THAN EXPECTED: poised to help boost provincial economy”
The April market stats are out and as the headline reads, the numbers are “better than expected” and actually mirror exactly what we have experienced personally in our business.
We have seen less activity in the market in April, more so on the selling side than buying, and most transactions were necessary rather than discretionary. But because there were less listings, we saw homes selling quickly and prices holding.
The National picture may be different because every province is in a different situation right now but we knew that the effects of a COVID world on real estate in Regina, and the province as a whole, would be directly related to the time it took to re-open our economy…so far so good!
Here’s a snapshot of what happened in our market in April:
* Sales in Regina were down 50.2%, going from 289 in April 2019 to 144 in April 2020
* The number of new listings in April 2020 fell significantly from the number last year. In Regina, new listings fell 50.8%, going from 581 to 286
* Active listings also fell 17.0% in Regina (down from 1,457 to 1,209), which just means that some sellers chose to remove themselves from the market in this time of COVID.
* Homes in Regina stayed on the market an average of 62 days in April—up a modest 1.6% from 61 days last year.
* Median home prices in Regina went from $283,000 to $287,925 (an increase of 1.7%) and were approximately 1.8% below the 5-year average median price.
* The MLS® Home Price Index (HPI)—which is considered a more accurate measure of house price trends—was down just 0.2% from $271,300 to $271,100, year to year.
For the full SRA media release with all the provincial stats for April check out the link below:
⁉️ So what does all of that mean to you?
If you have questions about anything real estate, just ask…
We’re here to help!
~Karin & Jen
Posted in: mortgage , mortgage broker , real estate , real estate agents , Realtor , REALTOR® , Regina Realtors , Regina Saskatchewan , Regina Saskatchewan , YQR , YQR Real Estate
Canada’s mortgage rates are creeping up -- even though the country’s central bank has slashed borrowing costs to combat the COVID-19 pandemic.
“That’s due to the enormous pressure Canadian banks face amid disruptions caused by the outbreak, said Sherry Cooper, chief economist at Dominion Lending Centres.
The costs of funds for banks is skyrocketing and bank earnings are plunging, Cooper told Bloomberg Monday.“
“Every single business they have ever loaned to is subject to a massive decline in revenues, and therefore their own revenues are going down because nobody is taking out new business with banks except to extend debt.”
If you want to understand more about mortgage rates, how they work & the current volatility of those rates check out this video from Dustan Woodhouse - AMP Accredited Mortgage Professional:
Now for the GOOD NEWS & We’ll take any bit of positive news we can get right now!
There is some optimism as far as future job security is concerned as although there has been an increase in jobless claims, Canadian consumers are largely confident in their job security.
Just 13% of respondents to the Canadian Confidence Index said they were worried about losing their job, slightly up on the previous week, but below record highs.
❓So what does this mean to you? If you are thinking about buying a home in the near future you should be taking the time now to get your mortgage pre-approval and get your rate locked in now for 120 days!
Then when the time is right you are ready to go!
If you have questions or need a a referral to a lender or mortgage broker, feel free to contact us!
~ Karin & Jen
"Your Proven Regina Real Estate Team"
Posted in: real estate , real estate agent , REALTOR , realtors , Regina realtors , regina saskatchewan , YQR
Mind Management may just be as important as hand washing right now as we are all just trying to find normal while self-isolating and working from home. Check out these tips to help you manage anxiety & to help promote postive metal health......we hope you find these tips helpful!
If you need help, there are resources available, so please reach out! The Saskatchewan Health Care Administration has tools available for you to check out on their website.
Be kind to yourself…and others ….everyone deals with things differently! And you know what, if you don’t feel like keeping up with some things right now it’s ok…we’re all in the same boat and we will all get through this together!
We’re here, working at home for the time being, and we’re always available if you have questions about what’s happening in Regina's real estate market so feel free to connect with us ….we’re happy to hear from you!
~ Karin & Jen
Posted in: buying , buying a home , buying a home , househunting , real estate , realtor , realtor , REALTOR® , regina , regina, sask , to do list , yqr
If you are thinking of buying a home for the first time or if you have been out of the market for awhile, there are a lot of things to consider before you start home shopping!
Here is our list of to-do’s to get the process started:
Get pre-approved and decide on budget!
Book an appointment with your lender or mortgage broker to discuss your plans before you even start seriously viewing properties. There is nothing worse than falling in love with a house only to find out that it doesn’t fit your budget.
Knowing the price point of properties you are pre-approved for helps us to narrow the search so we are showing you homes that will fall into the right range.
Your lender will need your employment/salary info and the full picture of your financial situation so they can best advise you as far as price range. Having all of the paper work done in advance will save you time & make the final approval process run more smoothly when it comes time for an offer. They will also guide you as far as the amount of your down payment and what is required for your mortgage.
Know the Costs Involved
There is more to consider than just the purchase price of a home. You need to factor in property taxes, utilities, and condo fees where applicable. Your monthly costs are important to know to determine not just how much you can afford, meaning your pre-approved budget, but how much you are comfortable allocating to home expenses.
There are also costs that go along with making the purchase including your home inspections, legal fees, and land titles transfer fees and the deposit portion of your down payment. With the possible exception of property taxes depending on how you pay those, these expenses are all out of pocket, meaning you have to have the cash accessible as they can’t be rolled into your mortgage.
There are a number of great apps that can help you calculate those expenses so you have an idea of the numbers in advance.
Create your “wants & needs” list
Make a list of what things you want in your next home and what areas appeal to you. Do you love entertaining and the space must have a gourmet kitchen & open concept living spaces? Do you have school age children and the school district is of the utmost importance? Do you have pets and a fenced yard or access to park space/walking paths is a must? Is it number of bedrooms/bathrooms that are most important….or a master bedroom with separate ensuite bath perhaps? Do you want to be able to walk or bike to work so proximity is a priority? Whatever the things are that matter to you most are the starting point for the house hunting process and that all helps us to choose the best possibilities to begin with. Your time is valuable so we ant to be sure that we are choosing the best houses to fit your wants and needs. Of course some compromise is inevitable but we want to help you find the home that checks off the most boxes!
Why Hire a Realtor®?
Because we understand the local market and have the tools and knowledge to guide you through the process, from the first home viewing to the day you take possession of your new home. We negotiate with the sellers agent on your behalf and liaison with your lender, lawyer, home inspectors, appraisers etc and make your home purchase as seamless as possible for you. Simply put we are your advocate!
If you are ready to start looking for your first home, your dream home or even just looking to make a change we are here to help you make the right move.
If you have questions about anything real estate, whether it’s buying, selling or looking to build a new home we have answers!
Happy Home Shopping!
Karin & Jen
Your Proven Regina Real Estate Team
Posted in: buying a condo in regina , real estate , realtor , REALTOR® , regina condos for sale , regina real estate , regina real estate agents , regina saskatchewan , townhouse , yqr
Hawkstone Village is a 2 storey townhouse condominium complex located in Regina's NW development, Hawkstone, close to schools, shopping and services. Hawkstone Village, is a partnership project with Varsity & Gilroy Homes and has the benefit of a builder/developer team with over 30 years’ experience in custom home building in Regina. They have a solid reputation for the quality of their product, and it shows in this project! We, the W2 Team, are happy to represent this project.
The 1023 sq ft 2 storey townhouses, with undeveloped basement space, are now starting at $240,000 (including GST). You can customize your own unit with a choice of preset colour combination & upgrade options based on your personal taste and budget, and If you require a quick possession we have designed some great units that are move-in ready!
You can check out the available move-in ready listings linked below:
The 2 bedroom, 1.5 bath units have great standard finishes including carpet & linoleum (upgrade options for laminate & tile), shaker style cabinets in 3 colours, 2 choices of lighting packages, blinds package included,a $3200 appliance credit so ou can choose your own, as well as upgrade options for central air conditioning & granite countertops.
One electrified parking stall is included with the option to purchase a 2nd stall.
The Hawkstone Village show suite is located at 3469 Elgaard Drive, facing Rochdale Boulevard, weekends 1-5PM or you can call to schedule an appointment for viewing!
For more information contact us at:
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You can also check out more details & the unit floorplan at:
Happy home shopping!
Karin & Jen
Your Proven Regina Real Estate Team
Posted in: buying a home , buying tips , listing agent , real estate , real estate agent , realtor , REALTOR® , Regina , Regina, Saskatchewan , selling a home , selling tips , why use a realtor , yqr
What are the benefits of using a REALTOR®?
Whether you’re buying or selling a home, it’s important to understand from the outset how professional representation can help you at every step of the process.
Buying or selling a home is a major financial (and emotional) undertaking and
your REALTOR® is more than just a "salesperson".....we act on your behalf as your advocate, providing you with professional advice and guidance.
The way to ensure you have that information is by enlisting the help of a REALTOR®.
Buying a Home:
As a buyer, there are many advantages to having a REALTOR® work with you:
Selling a Home:
We are your personal representative when you are buying or selling a home and we will be with you every step of the way!
Happy House Hunting!