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JUNE 2020 YQR Real Estate Market Update:


As the province continues to re-open, the real estate sector is experiencing a strong recovery!


Year-over-year sales across the province were up close to 50% from June of last year and down only slightly year-to-date, signalling that we’ve nearly recovered all of the sales lost during the COVID lockdown.


New listings were up almost 8% over June last year and the median home price was up almost 2%. 

Total inventory is down indicating that people are eager to buy now and make up for lost time due to the pandemic, which are seeing personally in our business for sure!


Average Days on Market in June was 58, down from 66 days in May.


From our SRA Media Release regarding June 2020 Market Activity:

“This recovery was expected as physical distancing restrictions were loosened and as people’s confidence began to return. With the economy getting back to “normal”, people are getting excited to buy homes.

 “We’ve seen properties in some markets sell within days of being listed,” said SRA CEO Jason Yochim. “And we’ve even seen bidding wars start to break out”, suggesting that people are quite motivated to buy and may be willing to pay more than full listing price. “


This could help to further fuel Saskatchewan’s recovery as people feel encouraged to list their properties as activity increases and home prices rise.


Check out the full July 2020 SRA Media Release here!


If you have questions about buying or selling real estate in Regina, or the market in general,feel free to reach out to us. We're here to help!


Email: Info@W2RealtyTeam.com



Happy House Hunting! 


~  Karin & Jen


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“SASKATCHEWAN REAL ESTATE MARKETS REBOUNDING AS PROVINCE RE-OPENS: Strong Recovery Expected”


The May 2020 market stats are out and signs remain positive! We have seen a lot of activity in the market since the beginning of May when our provincial re-open plan began and the hopefulness & positivity we see in our province is reflected in both buyers & sellers appetite to make a move in real estate!


Here’s a snapshot of what happened in our market in May:

* Sales in Regina held in May at 293 vs 289 in April, but still down from 339 sales YTD.

* The number of new listings in May 2020 rose dramatically to 644 from 286 new listings in April this year, but more on par with new listing numbers from a year ago.

* Homes in Regina stayed on the market an average of 66.3 days in May—up just slightly from 62.7 days in April (and from 61 days a year ago).

* Average home prices in Regina went from $287,925 in April to $294,390 in May (an increase of 2.2%).

* The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is up 3.7% from $267,200 to $271,300. Year-to-date, the median home price in Regina was $286,735 which is essentially unchanged from the $286,690 price, from the same time last year.


So what does all of that mean to you?
In a nutshell, we have thankfully not seen any measurable effect of a COVID-19 world in regards to our local real estate market….so far so good!


The National picture may be different because every province is in a different situation right now and of course, we have all heard about the controversial decision CMHC has made in regards to new mortgage rules…here is an excerpt from our SRA Market media update in reference to that topic:


“Saskatchewan’s market strength calls into question CMHC’s recent projections about the province’s real estate market, and CMHC’s Housing Market Outlook ignores the local nature of real estate. For instance, Saskatoon and Regina account for over 50% of the sales in the province, and these two markets alone can have a significant impact on the province’s overall performance. In addition, even at the height of the province’s state of emergency, year-to-date (YTD) sales in North Battleford, Estevan, and Yorkton were up more than 10% from last year, and YTD prices in several markets were also up.

“I hear more frequently that our members are receiving multiple offers”. So while the real estate sector in the province has been hit by COVID and continues to feel its effects, the outlook isn’t nearly as grim as some are making it out to be, and we’re already starting to see signs of recovery going into summer. “As the province continues to open up and our members take action to protect public safety,” says Yochim, “I expect markets to make a strong recovery.”


To view the full report from our Saskatchewan Realtors® Association click on the link below:
https://mlssask.ca/june-2020-media-release/



If you have questions about anything real estate, just ask…
We’re here to help!


~ Karin & Jen

Info@W2Realtyteam.com

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“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
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There's a lot to do to get ready to list your home so we're helping you out with a guide to get you started!

Check out our prvious blog with part 1 of 2 for the whole list of to-do's....if you have a month or more to prepare, you can take one item per day to prepare your home for sale! 



1: Repair What You’ve Been Avoiding 

We all have that list of “I really need to do that” repairs and fixes. Now’s the time to get to it, including fixing the leaky faucet, the picture holes in the wall, etc. and get it done once and for all. If you aren’t handy yourself, bring in a handyman to take care of it (we know some good ones, we can help).


2: Have Your Windows Cleaned

We know, you probably don’t even think about cleaning your windows, but rain, snow and blowing dust & dirt(this the prairies after all) can really make your windows dirty. We like Men in Kilts for affordable window cleaning.


3: Focus on the Front Yard 

Curb appeal matters and will significantly impact people’s first impression of your house. Stand on your street and take in your front yard: what do you see? At a minimum, clean the scuff marks off the front door and touch-up the chipped paint or give it a fresh coat. And if your front door has seen better days, consider investing in a new one. If you have a front porch, make it look inviting (and not just a receptacle for more of your stuff). Invest in some seasonal plants. Clean up the garden. A lot of Buyers will see your home at night, so make sure that your outdoor lighting is showing off your home.


4: Don’t Ignore Your Backyard 

What you can accomplish in the back yard will, of course, depend on what time of year you sell. If you’re selling in the near future(Spring/Summer) clean up the gardens, trim the trees, cut the grass, stain the deck and clean the patio furniture and BBQ. If it’s winter: do your best to make it look presentable. If you have a garage: tidy it up and fix any peeling paint and the sagging roof.


5: Have your Carpets Cleaned 

Unless your carpets are brand new, you’ll want to have them steam cleaned (or do it yourself). You’ll be amazed at what a difference it makes.


6: Don’t Forget About the Floors

If your floors are scratched, there are some great products out there to make them look almost-brand-new. And just make sure you do a good deep clean of the surface & don’t forget those corners!


7: Tackle the Walls and Doors

If your walls and doors are scuffed, buy some Magic Erasers and go to town. You’ll wonder why you didn’t do it sooner. If your art needs an update, now’s the time to do it too.


8: The Final Clean

By now you’re probably exhausted..sorry about that. While you can do this final step yourself, if your budget allows bring in professional cleaners who will make sure to clean all the spots you don’t get to: the baseboards, inside the lights, the fridge, etc. A clean home matters to potential buyers….it just does!


9: Make Plans for the Kids and Pets

We love them all but we want buyers to see themselves living in the space so now is the time to stow the toys and finger painting artwork and have a plan to tuck it all away easily before showings.


10: Make Your Home Smell Good 

If you’re a dog owner, freshen up the couches, beds and surfaces where the dog sleeps. You may not smell Fido anymore, but trust us Buyers will. If you a cat, make sure the litter box is inconspicuous and cleaned regularly so it’s all fresh!

If you have diffusers they are great to make everything smell great but avoid strong air fresheners…it makes it seem like you’re trying to hide something! 


11: The Final Once-Over

You’ve worked hard, to get ready to list, now take one last look and see if there is anything that would distract a buyer? Take one final walk through all the rooms and adjust as necessary.  Now you’re set & ready to go!


If you need a hand to figure out what projects you need to take on to get the best result in your home sale, we are here to help.  Just ask!


~ Karin & Jen 

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We know that there is a lag time between when you start thinking about selling your home and when you actually start the process. There's a lot to do to get ready to list your home so we're helping you out with a room by room guide to get you started! 


It's already overwhelming enough so we're breaking the to-do list into two parts for you. Here is Part One to start the ball rolling.....



1: Change Light Bulbs and Update Light Fixtures

It’s easy to forget about all the bulbs that have burned out over the years, but you want your home to be as bright as possible. Lighting makes an incredible difference in how a home looks to potential Buyers. If you have dated light fixtures, make a quick trip to Home Depot or one of our great local lighting stores and pick up some modern…budget friendly… ones to update your space! 


2: Dig Out all that Paperwork

Buyers and agents are going to ask a lot of questions, so start digging out the paperwork now: utility bills, renovation details, warranties, survey certificate if you have, floor-plans and rental contracts for things like your water heater & water softener and alarm system.




3: Pick up Boxes or Containers 

A big part of preparing to make a move involves reducing clutter, and starting that process before you list your home is a great place to start! Having a supply of those boxes and containers handy allows you to start the process room by room anytime you have some time to spare. PS: Remember to mark the boxes with the room those items go back to after the move. 


If you’re going need to remove a lot of stuff out of your house for the sale, consider renting a storage pup – you fill it up at your house, it gets hauled away, stored and delivered to your new home when you move in!


4: Make an Extra Set of Keys

We will need a set of keys for the lockbox so agents have access your home for showings, so you’ll need to get an extra set cut which you can do at any hardware store.



5: Tackle The Bathrooms

Remove all the toiletries you have on display and tuck in a cabinet (we know it’s nice to have them handy but they don’t look great in photos or add value to your space). Make a quick stop at Winners for some new white towels and bath mat (and no, you don’t get to use them). If your toilet paper holder and towel rack/hooks could use refresh consider updating those as well! A freshened up bathroom goes along a way when buyers are viewing your home! 



6: Declutter the Kitchen

The kitchen is one of the rooms Buyers are most attracted to so if you’re looking to skip a room, this shouldn’t be it. Remove your blender/toaster/bread machine from the counters – you want the counters to be as clear as possible. Clean inside all the cupboards and eliminate anything you don’t use and don’t want o move!  You want your cupboards and pantry to look spacious and organized. Clean inside the fridge (and remove the magnets, photos and reminders from the front). And now is the time to clean your oven! Yes people do look!  When it comes time for photos, consider investing in some fresh flowers and a beautiful bowl with some fresh fruit in it.  Those are things that do look great in pics! 



7: Next up: The Bedrooms

The bedrooms should be inviting, and that means more cleaning and decluttering. If you don’t already have one, invest in a neutral-coloured duvet cover and some new pillows/cushions. Th good news is those go with you! Straighten the bookshelves, remove some of the personal photos(it doesn’t have to be all of them…this is still your home for now), minimize knick-knacks and personal grooming products. 

Clean out the closets and if you have a large dresser or armoire that doesn’t really fit into the space, consider removing in prep fr sale…it will make the space look larger. 


8: Tackle The Living Room

Clean the sofa and chairs and invest in some new throw pillows. …on that stop to Winners! 

Take a photo of the space and remove any clutter that you see!  Of possible tuck any & hide the wires from your TV/stereo/speakers.


9: Make Your Dining Room Look Like a Place People actually Eat 

Remove the kids’ homework and the piles of stuff that have accumulated on the dining room table and add a simple table centre ….think flowers or the bowl of fruit! 


10: De-clutter, Organize and Clean the Basement

Ok so this is likely going to take more than one day so you may need to plan room by room. Whether your basement is finished or just a storage area for extra stuff you never look at, now is the time! You’ll need to invest the time to make it look as spacious and clean as possible….and making it smell nice is a good thing too! You will have to do this before you move anyway so it’s a good investment of your time to do it in preparation for selling your home!


11: Tackle the Closets and Storage Areas

No you can’t just take all of the stuff off counters and shelves and stuff them in closets….because buyers open closets too!  The last thing you want is for Buyers to think there isn’t enough storage in your home, so take the time to pack away what you don’t need in the immediate future. Store, Toss or Donate!



12: The Entrance - First Impressions Count!

Remember that most Buyers will have an immediate emotional reaction to your home so what they experience at the entrance is very important…with inside & outside! You want your entrance to be clean, de-cluttered and inviting. Make sure that your front steps are clean, your light and door handle is clean  and having a new inviting door mat is a nice touch as well!  

Follow the Store, Toss or Donate rule when it comes to your front entry & closet….eliminate all unnecessary coats, shoes & boots and have nice clean doormat inside as well!


13: Minimize the Things That Make Your Home Yours

Ouch, we know that one is tough. You want your house or condo to appeal to as many Buyers as possible, and that will only happen if they can picture their own stuff in your house. Minimize the family photos, collections & souvenirs from your travels. Here’s a great tip….walk through every room in your house and pretend you’re a Buyer. If what you see identifies you & your life, remove it.


14: Paint Touch-ups and Re-painting 

A fresh coat of neutral paint is one of the cheapest ways to freshen up your home. Bold colours might be your jam but that may also just be a turn-off to some Buyers, so to appeal to the most people possible take the time to re-paint that red bedroom and blue bathroom. Don’t forget about baseboards and ceilings – they might need a touch-up too.



Well that will give you a good start on your projects....watch for Part Two of our to-do list coming soon! 


If you have specific questions about your property and what you may need to do to in preparation for sale, don't hesitate to ask!  We're here to help.


~  Karin & Jen




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