Posted on
January 17, 2024
by
W2 Realty 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.
While the Internet has opened up a world of information not previously available to consumers, the data on listings available for sale, while interesting, is only relevant in context in our local market. In a competitive market, whether you are buying or selling, you need the most current information about what has sold or is currently for sale, any pertinent changes in pricing, as well as any additional information we have about specific properties beyond the listing details.
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:
- We simplify the process of finding you the perfect place by matching up properties that fit with your criteria & arrange all property showings. As buying or selling your home is a very personal transaction, many people tend to feel more comfortable using an agent as a liaison rather than having to deal face to face with potential buyers or sellers. The best part is it doesn't cost you, the buyer, anything to have a REALTOR® work on your behalf as buyer’s agent is compensated via a percentage of the seller’s brokerage commission.
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Once we find the right property for you, we will develop a negotiation strategy based on our industry knowledge and experience, facilitate all the contracts and paperwork, as well as negotiate the purchase on your behalf including price, possession, inclusions & any conditions to the purchase.
- We can recommend industry professionals, such as mortgage brokers, certified home inspectors, real estate lawyers, insurance agents, movers, & even proven contractors for any projects that need to be addressed. We will be with you through your home inspection and will help guide you through that process as well.
- We also work closely with all parties involved in your home purchase & ensure that all documents are provided to your Lender & Lawyer.
Selling a Home:
- When you're selling your home, you gain access to the most qualified buyers by being listed on the Multiple Listing Service. Whether you are buying or selling a home, MLS® is your best tool. By having your listing as part of the MLS® system you instantly have all of the REALTORS® in the city considering your property for their qualified buyers as well as national exposure to potential buyers relocating to the Regina area.
- That is really the key....getting it in front of the highest number of people who are actively looking for a property with the same characteristics as yours, in your price range and neighbourhood.
- We are your liaison with other local real estate agents to help promote your property & to work together to help affect a great end result for you!
- One of the most important things we do is to help you price your home correctly through our experience and understanding of the market & comparable sales.
- Great marketing of your property starts with professional photos & video tours. We will arrange that for you and we will help to advise you & give you our recommendations to ensure that your home & yard are photo ready and engaging to potential to buyers.
Because today's home buyers and sellers are so much better informed than in the past, our expertise and ability to communicate that, are becoming much more important. Our profession and the service we provide is evolving and we are becoming as much a "guide" through the process as a "salesperson".
We are your personal representative when you are buying or selling a home and we will be with you every step of the way!
We look forward to working with you & if you have questions about anything real estate, we are here to help! Email us at info@w2realtyteam.com
Happy House Hunting! Karin & Jen
Posted on
October 13, 2021
by
W2 Realty Team
We know there a million things to do as you prepare your home for sale so we are starting with just a few projects to tackle before the snow comes & Winter is here to stay! This post covers outdoor projects but we also take on the indoor list of to-do's in our blog "Guide to Prepare Your Home for Sale"!
If you're not sure where to start this Fall, here is some inspiration:
Focus on the Front Yard
Curb appeal is everything and will significantly impact a potential Buyer’s first impression of your home. Stand out on the street and take an objective look, or even better a photo, of your house & yard….What do you see that could be improved?
At a minimum, clean the scuff marks off the front door and touch-up the paint… or give it a fresh coat if weather permits! And if your front door has seen better days, consider investing in a new one….that is a Buyer’s first view to what is inside and it sets those expectations!
If you have a front porch, make it look inviting (not just a place to store your stuff)
Invest in a cute new door mat & some seasonal evergreens to put in planters at your front door or add a welcoming wreath. Of course at this time of year, Fall inspiration is everywhere!
Make sure to clean up your lawn, planters & garden areas of leaves & debris.
If you are planning a move before Spring next year, remove anything you will want to take with you before it gets frozen into the ground....for example your fire pit, outdoor furniture, play structures etc.
As our days are now growing shorter, many Buyers will see your home at night, so make sure that your outdoor lighting is highlighting your home. Pathway lighting is always a great idea as well and can be accomplished inexpensively with solar lights.
Be sure to replace bulbs & clean your outdoor light fixtures, or update them if necessary.
Have the Windows Cleaned
We know, you probably don’t even think about cleaning your windows at this time of year, but weather & wind can really make your windows dirty! We don't always notice those things when we live in our homes every day but trust us, buyers will notice and we want them to focus on your great house not on dirty windows! We like companies like Boys Next Door or Men in Kilts for affordable window cleaning.
Don’t Overlook Your Backyard
What you can accomplish in the back yard will of course depend on weather, but before we get snow that stays make sure you do one last lawn mowing, clean up leaves & blow out your sprinklers if you have an in-ground system.
Now is the time to put away or cover your patio furniture, BBQ, plant pots & garden utensils and do what you can to make the back yard presentable for Winter!
If you have a garage now is the time to tidy it up and get rid of clutter before Winter sets in! If your garage door or operator need updating, then consider replacing those in preparation for listing your home for sale.
If you have questions about the market ....when is the right time to sell, what is my home worth in the current market and where do we start....we are here to help you navigate the process from beginning to end! Feel free to contact us with your questions.
We look forward to working with you!
- Karin & Jen
Posted on
May 14, 2021
by
W2 Realty Team
Many home buyers decide whether they even want to look inside a house or pass on it based on curb appeal—the way the house looks on the outside is often an indication of what you may see on the inside, so curb appeal & first impressions matter when you are trying to sell your home. You can help ensure buyers want to view your property by spending a little bit of time working on its exterior appearance.
Remember that staging a home affects the entire property. While it is important to make the interior look larger by keeping things clean and simple, the outside of the home shouldn't be overlloked or neglected. Picking up trash and other debris from the yard, driveway, carport, and other areas surrounding the home gives visitors an idea about what to expect from the inside. Pressure washing the siding, deck, and concrete is an inexpensive investment that has the potential to add significant value to the sale price of a home.
Owners and potential buyers don't look at a house the same way; we as owners often can't see our home's faults because we are just used to the way it is.
When the time comes to sell, it's important to try and remove the emotional attachment you have to your home and remember that it is now a commodity that you want to sell for the highest price possible! We know that's sometimes easier said than done and we will be there to guide & support you through the process!
Curb Appeal Exercise:
Many buyers will walk or drive by a listing before viewing so to see it from their perspective, the next time you drive up to your own house, make note of the following as if you are seeing it for the first time:
- What is your first impression of the house and yard?
- What are best exterior features of the house or lot?
- What exterior features of the house can be improved?
- Is the yard clean and tidy?
- What could you do to make it more attractive…exterior lighting, plats on the step, new paint, clean the windows?
Take photos of your home's exterior….you will be amazed at how differently you see it from that perspective! What jumps out at you immediately…good or bad?
Clean and Repair:
Now is the time to make a list of the problem areas you discovered. Tackle any basic clean-up and repair items first, and then put some time into projects that make the yard more attractive.
- Stow away garden implements and tools, extra pots and soil etc.
- Pet Peeve….garbage bins visible from the street! If you can, make room on the side of your house, or even better, in the garage to store the bins.
- Clean windows and gutters.
- Pressure wash siding and decks, driveways and exterior lights to freshen them up after winter.
- Edge sidewalks and remove vegetation(ie weeds) growing between concrete or bricks.
- Mow the lawn and get rid of weeds.
- Trim tree limbs near, or touching your home's roofline.
Don't Forget the Rear View (So to Speak!):
A backyard oasis that doesn’t require a lot of work from a potential buyer is a big plus!
Evening Curb Appeal:
Do your curb appeal exercise again at dusk, because many potential buyers drive by houses in the evening.
One quick way to improve evening curb appeal is with lighting:
- Low-voltage or solar lighting along your driveway and sidewalks and near important landscaping elements adds great curb appeal.
- If it’s been a long time since light fixtures and exterior door hardware have been changed, update the lighting & door handles at your front and back doors.
Make the First Impression Count:
Some buyers can't visualize changes and often won't take a second look at a house if the first look doesn't appeal to them. Thinking like a buyer before listing can entice more people to look at your home and can also help you sell the house faster and closer to the price you want.
Final Thoughts:
There are simple changes you can make that will give you a lot of bang for your buck....consider it exterior staging!
- A fresh exterior with clean or freshly painted window trim, a new or newly painted exterior door makes a huge difference. Choose color schemes that are contemporary but also have mass appeal!
- If you can't justify the cost of a new door, consider replacing standard door hardware with something more modern & attractive.
- Add a new porch light & new garage lights if budget allows.
- Add a pop of colour and instant curb appeal by adding some pretty plant pots to your front step or perennials to your front garden beds!
- And finally take photos of the Summer landscape so you have them for listing in the Fall & Winter!
If you have questions about selling your home, we are here to help you navigate the process every step of the way! Contact us for more information at info@w2realtyteam.com
Best,
Jen & Karin
Your Proven Regina Real Estate Team ...helping you make the right move!
Posted on
February 22, 2021
by
W2 Realty Team
Posted in
buying a home, real estate, Real estate agent, regina, Regina,, Regina, Saskatchewan, top selling agents Regina, top selling agents yqr, YQR
What are the Typical Costs involved in a Home Purchase:
It really just begins with the actual purchase price of your home, so we want you to be prepared for the additional costs that come along with the home buying process.
Here are some of the common items you can expect(some are optional & some may be required by your lawyer or lender):
Home Inspection:
Once you find a property, you need to know everything you can about the home — good and bad. Home & Sewer Line Inspections can uncover issues that could impact the purchase price, or slow or stall the sale. These reports are optional, but can help you confirm that this is the home for you and also help prepare for possible projects to be addressed in the future.
A home inspector checks that all major elements in the home are in good working order. A home inspection helps you make a more informed decision about buying a home but is not designed to be a renegotiation necessarily.
If a roof needs repairs, you want to know about it right away and if the ducts require cleaning, a normal maintenance item, you want to know about that too!
Average cost is $400.00 plus taxes.
Sewer Line inspection:
Optional but we recommend it in most cases, and especially in more established neighbourhoods where sewer lines may be older & where mature trees are the norm, and tree roots may cause blockages. Sewer line issues can be costly to deal with so having this information is valuable prior to completing a home purchase.
Average cost is approximately $125.00 plus taxes.
Property appraisal:
When you apply for a mortgage, your lender may order an
Appraisal to get an estimate of the property's value. You may need one for financing purposes, so factor this into your closing costs. Ask your lender/broker fro more information about the costs involved & if they think it will be required for your purchase.
Title insurance:
Your lawyer may encourage you to buy an owner's title insurance policy. In some cases, your lender may require a lender's title insurance policy, which is generally at your expense. These title insurance policies protect you and the lender from title fraud, municipal work orders, zoning violations and other property defects. The lawyer usually adds title insurance costs to your legal bill.
The average cost is between $185-250.
Property insurance:
Property insurance protects you in case of fire and certain other disasters. Your lender requires you arrange property insurance for your home's replacement value. The insurance must be in place before your lender advances the mortgage funds. Cost will depend on your coverage.
Legal fees and disbursements:
These are the final expenses you need to plan for prior to possession of your new home!
After removal of conditions, your lawyer will send you a transaction report which includes copies of all relevant legal papers.
- Disbursements include any expenses your lawyer had to pay for work on your behalf. Legal Fees vary from law firm to law firm but average between $1500-1700 including applicable taxes.
- Adjustments will also be made for property taxes and pro-rated rental charges on water heaters etc, where applicable.
- In addition, your total legal bill will also include land title transfer fees which are dependent on the purchase price of your home, but is equal to .03 cents/thousand dollars of purchase price.
So, for example if you are purchasing a $500,000 property your total legal costs, plus title transfer fees will be approximately:
$1,500.00-1,700 Legal Fees
$1,500.00 Land Title Transfer
$ ?? Additional Adjustments for Property Taxes etc.
Having this information can help you to be prepared for all of the costs that come along with the purchase process, beyond just the purchase price of your new home, so hope there are no surprises along the way!
Happy Home Shopping!
~ Karin & Jen
Posted on
February 22, 2021
by
W2 Realty Team
Posted in
buying a home, real estate, REALTOR®, regina,, Regina, Saskatchewan, selling a home, top selling agents YQR, YQR, YQR Real Estate Agents
2021 New Year …..New Home?
Here’s How to Get started!
Now that 2020 is done and you have had time to reflect on the year that was, you’re likely thinking about what 2021 holds for you!
If making a move is in your plans, there are a few things you may want to do before you start the process of house hunting.
3 Things To-Do Right Now:
1. Meet with your lender or mortgage broker to discuss your plans and determine your budget & price range and get that pre-approval in place! And while interest rates are so favourable you may want to get yours locked in now!
Also, if you own a home currently you will need to know if a purchase is conditional on the sale of your home or if you can bridge finance for a period of time.
2. Start thinking about your “must haves’ and your priorities in a new home.
-Is it location….because of proximity to work schools, daycare or near friends & family?
-Or is the layout o the home because you are both working at home now and have kids homeschooling so you all need your own space? Or do you have small children and need 4 bedrooms all on the same level?
-Or is it the yard and the ability to create an outdoor oasis because you may not be travelling as much?
-Is a 3 car garage a must because you have a car fanatic in the family…or because you have teenagers who will be driving soon?
Whatever it is, that’s the jumping off point when we start our list of great options for you to view!
3. If you have a home currently that you will need to sell, start tackling the list of to-do’s now so you are you prepared to list when the time comes.
It may be as simple as decluttering & touching up some paint …or there may be some bigger things that need to be attended to before the space is “show ready”!
If you’re not sure where to start check out our Two Part Blog on Preparing your Home for Sale …..or just ask us, we’re here to help!
Preparing Your Home For Sale - Part One
Preparing Your Home For Sale - Part Two
Happy New Year & Happy House Hunting!
~ Karin & Jen
Posted on
January 4, 2021
by
W2 Realty Team
Posted in
buying a home, real estate, REALTOR®, regina,, Regina, Saskatchewan, selling a home, top selling agents YQR, YQR, YQR Real Estate Agents
2021 New Year …..New Home?
Here’s How to Get started!
Now that 2020 is done and you have had time to reflect on the year that was, you’re likely thinking about what 2021 holds for you!
If making a move is in your plans, there are a few things you may want to do before you start the process of house hunting.
3 Things To-Do Right Now:
1. Meet with your lender or mortgage broker to discuss your plans and determine your budget & price range and get that pre-approval in place! And while interest rates are so favourable you may want to get yours locked in now!
Also, if you own a home currently you will need to know if a purchase is conditional on the sale of your home or if you can bridge finance for a period of time.
2. Start thinking about your “must haves’ and your priorities in a new home.
-Is it location….because of proximity to work schools, daycare or near friends & family?
-Or is the layout o the home because you are both working at home now and have kids homeschooling so you all need your own space? Or do you have small children and need 4 bedrooms all on the same level?
-Or is it the yard and the ability to create an outdoor oasis because you may not be travelling as much?
-Is a 3 car garage a must because you have a car fanatic in the family…or because you have teenagers who will be driving soon?
Whatever it is, that’s the jumping off point when we start our list of great options for you to view!
3. If you have a home currently that you will need to sell, start tackling the list of to-do’s now so you are you prepared to list when the time comes.
It may be as simple as decluttering & touching up some paint …or there may be some bigger things that need to be attended to before the space is “show ready”!
If you’re not sure where to start check out our Two Part Blog on Preparing your Home for Sale …..or just ask us, we’re here to help!
Preparing Your Home For Sale - Part One
Preparing Your Home For Sale - Part Two
Happy New Year & Happy House Hunting!
~ Karin & Jen
Posted on
December 11, 2020
by
W2 Realty Team
During times of economic uncertainty, it is more important than ever to support local business owners and independent artisans. This year our local Regina shops & restaurants have been hit hard by the COVID-19 restrictions & this holiday season, we have an opportunity to shift our consumer power towards our locally owned & operated businesses.
Every time we buy from a local small business, we make our community more prosperous & we have so many great options in YQR! We hope our holiday gift guide will help inspire you as you finish your gift shopping this year!
For the Fashion Enthusiast
If that is the man in your life, our go to for the perfect gift for our guys is Colin O’Brian Man’s Shoppe …for selection with the coolest brands like Hugo Boss & John Varvatos and service by their stellar staff, we know we can always get the perfect sweater, scarf and the coolest socks to fill that stocking!
Ladies, when you want the perfect jeans, tee or something comfy to lounge in, you can count on great shops like Havik Clothiers, THR3E Clothing Connection in Lumsden and our friends at Nico Lady + Baby (yes even for the littlest fashionista!) for inspiration ….
They all have great ideas for your gift giving this year like cute logoed sweatshirts(think Brunette the Label & Good hYOUman), lounge sets(like Z Supply), cozy scarves, jewellery & accessories, and of course super cute masks…. for one stop shopping.
Stocking Stuffer Alert! These new mask lanyards from Nico Lady & Baby are perfect stocking stuffers!!
For the Kids
Without question if you are shopping for fun,or learning, toys, games, puzzles, colouring books or sticker books, Zippity Zoom Toys is one stop shopping for all ages of kids…and it’s just a fun place for us big kids too!
For the Foodie & Home Accessory Fan!
If you’re looking for great gift ideas for for someone who loves to cook….and let’s face it we’ve all kind been finding our inner Ina Garten/Jamie Oliver in the past 8 months…check out Crocus & Ivy for the most lovely selection of cookware & glassware, and great stocking stuffer ideas like Christmas Tree Ornaments, the cutest tea towels, aprons & gourmet food items...not to mention women's & kids fashions! We promise you will want to just hang out and look at every single thing in this lovely store!
Bonus Tip: Plan to stop in at Magpies for coffee or tea & a home made treat while you're there!
If you’re looking for the coolest gadgets(think BBQ tools, meat thermometers), gourmet knives, Wellness Mats, or great gift ideas from Maison Berger or this cool & elegant Sizzle candle lighter, then Kitchen Gear is your go-to!
Stocking Stuffer Alert! We love this Car Air Diffuser from Maison Berger ...there's even one for the dog lover in your life!
Bonus Tip! While you are at Kitchen Gear & its new sister store The Flower Shop On Hill Avenue stop and pick up some delicious treats from Something Sweet from Fadiah while you’re there! #winwin
Did you know that our own local treasure CJ Katz has released two new "Covid19" cookbooks, One Bowl at a Time and One Loaf at a Time with recipes shared from Canadian cooks from all across our country! What a great great 2020 keepsake & gift idea!
For Anyone …and Yourself of Course!
And for those people who have everything and you don’t know what to get, when all else fails treat them with a lovely scented candle…we love these locally made hand-poured candles from Ruby Reid ...the new Holiday Candle is a blend of cedarwood, fraser fir & pine and may just become your new seasonal favourite scent! While you’re there check out Sara Lindsay’s Pretty City Studio for exclusive lines of make-up, skincare and gift cards for makeup application, brows, lashed & more!
If you live in or are you're heading out to White City/Emerald Park check out Wish Home & Gift where you will find something for anyone....living gifts & potted plants, home accessories, Holiday seasonal gifts, home & body care products, gourmet candy & chocolates, and even gifts for the little ones! They seriously have the coolest things &
their gift packaging is just so pretty & elegant, it's such a pleasure to give & receive!
Date Night ...at Home!
Supporting our local hospitality industry is so important right now and we can help by ordering takeout for ourselves and sharing gift cards with our friends & family so they can take a night off and do dinner(and maybe wine?) and a movie(aka Netflix) at home!
We have so many great places in Regina providing at restaurant at home options with pick-up & delivery, like some of our favourites from our friends at Luna Kitchen & Bar, Bar Willow Eatery, Skye Cafe & Bistro and Chop Steakhouse & Bar (a locally owned & operated franchise).
Did you know Skye Cafe & Bistro has a special gourmet take-out dinner menu every weekend....and they have a Christmas turkey dinner menu so yo ucan relax & enjoy the holidays with one less stress! We were lucky enough to enjoy their Thanksgiving turkey dinner so we know this one will be amazing too!
Stocking Stuffer Alert! Did you know that Bar Willow has 25% off all OffSale Wines with Free Deliver over $100? Now there's something to celebrate!
And of course, check out one of the “Support Local” Facebook pages to get information & more inspiration for products & services including loads of inspiration from some of our super talented local Regina artisans!
Happy Holidays & Happy Shopping from our homes to yours!
~ Karin & Jen
Info@W2RealtyTeam.com
Posted on
July 12, 2020
by
W2 Realty Team
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
Posted on
June 6, 2020
by
W2 Realty Team
“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
Posted on
May 12, 2020
by
W2 Realty Team
“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…
Posted on
May 7, 2020
by
W2 Realty Team
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
Posted on
April 27, 2020
by
W2 Realty Team
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
Posted on
April 20, 2020
by
W2 Realty Team
If you’re buying a house and trying to decide if you should have a home inspection done, we can make it really easy for you – the short answer is YES….in almost every single situation.
In some cases, a buyer will forgo a home inspection in order to make their offer more appealing to the seller, but that is a big gamble. You might get the house, but you might also end up with unexpected costly issues to deal with.
When you don’t have a home inspection you’re relying on the seller to disclose everything that may be wrong with the house and that’s risky because some sellers just won’t do it, while others genuinely may not know.
Having an impartial expert come in and evaluate the house is the best way to get an honest, informed opinion.
And having said that, getting a home inspection is not a guarantee that you’ll uncover every single problem.
1. What a Home Inspection IS:
When you request a home inspection as a buyer, there are 3 things you’re hoping to accomplish:
- Identify any major problems with the house and get an idea of what’s involved in remedying those major issues. In all likelihood you are not buying a new house…..you’re buying a house that may have been built a half century ago and renovated periodically over time. Very few homes are in perfect condition and you need to know what to anticipate in the future.
- This is an introduction to your future home so that you know how to maintain it. If you’re a First Time Home Buyer this will be especially important for you – owning a house can be a lot of work and properly maintaining it is the best way to protect your investment.
- One of the biggest benefits of a home inspection is that it prepares you for the house – what needs to be fixed immediately, in 2 years, in 5 years, etc. Most home inspectors spend the time to give you important maintenance tips (like telling you where the water main shut off valve is located). Your home inspector will provide you a written summary of their inspection & a guide full of useful information about caring for your home.
2. What a Home Inspection IS NOT:
Home inspectors conduct visual inspections – they don’t look behind the walls and under the floors (and yes, sometimes strange things are happening there). They are generally specialists in all areas and often recommend further inspections, when they suspect there could other issues. Home inspectors are not generally looking for compliance with the building codes beyond obvious things like electrical or proper railings, etc.
The Home Inspection Process
A home inspection for most houses takes about 3 hours, depending on the size, age and condition of the home. The inspector will go through the house on their own, room by room ,and look for major issues; they will also assess the attic, the roof and the home’s exterior too. They’ll take photos along the way which will form part of the written report you will receive after the inspection.
What Happens if you Uncover Some issues?
Sometimes, home inspections uncover unexpected stuff – for example, shingles that needs replacing, electrical wiring that needs to updated or a sewer line that requires cleaning. …or worse occasionally. You may need to decide if you want to take on the major fixes or walk away from the house. And we may need to revisit the price accepted on your offer. In most cases, the big issues are already known and have been factored into the asking price, but in some situations, you may need to go back to the Seller and re-negotiate the price based on what you now know. Although a home inspection should not be used as a tool for renegotiating price or to nickel and dime the little stuff that you uncover.
As REALTORS®, our job his to help you navigate that process!
Just a final note on the process! Home inspection companies will generally require homebuyers to sign a waiver of liability, in their standard contracts, clearly indicating the limitations of the inspection. If something is missed, generally the only remedy is a refund of the cost of the inspection.
We work regularly with a number of great qualified home inspectors in Regina and can refer you to one that is right for you!
Here is a list of certified home inspectors in the YQR area:
INTERNACHI Certified Home Inspectors
Of course if you have any questions about the process of buying a home, feel free to reach out to us. We’re here to help!
~ Karin & Jen
Posted on
April 15, 2020
by
W2 Realty Team
Questions about the YQR market? Here’s what you need to know now!
Mounting job losses and concern about how a COVID-19 world is going to affect the economy has many wondering if property values will drop – along with their net worth.
It is reasonable to assume that demand for homes may be reduced in the short term as buyers are concerned about their employment status and financial stability, although there is also a segment of buyers whose jobs are secure and salaries are protected so their plans to move forward with a purchase are relatively unchanged.
We are still seeing activity in the Regina from both buyers & sellers although fo rthe most part those sales & purchases are necessary rather than discretionary.
So what will the effects of all of this really be? That is still yet to be determined and we will be watching and updating you with market activity and stats.
One thing we can count on is that the housing sector likely won’t see the typical spring bounce we would normally expect.
So what does this all mean to you? As a homeowner... or as a buyer, what should you be doing now?
- First of all, Don't Panic. Like any asset, the only time you should be concerned about the current valuation of your home is if you want to sell it.
- If you are considering buying a property in the near future & are employed you can start the process of mortgage pre-approval and get a budget set out for your house hunting process. Once that is done you are set to hit ground running!
- If you are looking to purchase new or to refinance your current property, ask your employer for verification of your job status. Lenders are more likely to support your situation in both a future purchase and also in discussing refinancing options, if they know that a steady stream of income is expected.
Lenders are busy working as homeowners explore financial options to offer themselves some breathing room during this period of uncertainty.
These are stressful times, and managing your financial situation comes down to what is right for you. There’s no one solution for all, so explore your options.
If you have questions about the market and how it will you affect you specifically, we are here to help! Feel free to reach out at info@w2realtyteam.com
Stay safe & healthy!
~ Karin & Jen
Posted on
April 9, 2020
by
W2 Realty Team
Posted in
buying a home, preparing to sell, real wstate, REALTOR®, Regina, Regina realtors, Regina Saskatchewan, selling a home, to do list, top selling, top selling agents, YQR
Here’s What You Can Do Now!
Whether your plan was to buy your first home or sell your old one, those plans will have been put on hold by coronavirus unless it’s a necessary move, leaving you with the feeling that there’s nothing you can do except sit and wait…
However, now that you have time on your hands you can take some practical steps now that will save time and give you a jump on the process when life returns to something closer to normal — and when your time to tackle those projects is once again in short supply.
Top tips for buyers:
1. Go Virtual
You may not be able to easily view homes physically right now but an online search is valuable research!
Most listings have great professional photos or video tours that will allow to view the home virtually to decide whether it is a possibility or an absolute No!
Check out our App where you can browse properties and mark & save your favourites ….and we can see what you’re liking as well so we can also send you recommendations based on your favourites!
2. Prepare your mortgage pre-approval
Your mortgage broker can help you virtually to get your pre-approval done now and get your mortgage rate locked in for 120 days ….so when things normalize you are ready to hit the ground running!
Top tips for sellers:
1. Finish any DIY jobs
Home improvement stores like Home Depot are still open so you can pick up supplies for those small projects that you can tackle now like:
Replace broken tiles or touching up grout, paint touch-ups, touch-up watermarks on ceilings, fix or replace that leaky tap, replace bath & shower caulking, etc.
2. Neaten up your Yard
Once the weather warms up a bit you can start cleaning up your shed, garage, and those pots that didn’t all quite get cleaned up before the snow fell last year!
Box up or bin the contents of the garage or garden shed so you can get a jump on that process before you get your hime on the market.
3. Tackle those exterior projects
First impressions count and an easy way to amp up curb appeal is to give your front door a fresh coat of paint. When weather permits take on those exterior tasks including:
clearing your eaves, cleaning your windows(by the way there are window cleaning companies still working), and spray down your driveway to remove all of that winter dust & dirt.
Those projects all take time — and right now that’s the one you thing have more of!
We’re here to help you and answer any questions you may have about the market and how that may affect you whether you are buying or selling.
So feel free to reach out …we’re happy to help!
~ Karin & Jen
Posted on
April 9, 2020
by
W2 Realty Team
We know you’re out walking Fido more often than ever right now and that means dodging puddles and coming home with wet or muddy feet...both of you perhaps!
And then there’s just the normal doggy self-care required occasionally to get that pup looking & smelling great!
So if you’re thinking about adding a pet wash station to your home renovation or new home design, check out these 5 great design tips!
PS Double Duty - you can use a pet wash station for cleaning dirty golf clubs, gardening tools and even the kids after a busy day of playing in puddles too! Win win!
- Incorporate the washing station into the mudroom. Mudrooms are a very popular spot for dog wash stations. You normally enter the house from the back or side door, so their muddy paws never have to make it into the rest of the house.
- Include a handheld shower or sprayer. Not only will it help you get your dog's entire body nice and clean, but it will also let you to do a quick paws-only wash.
- Be prepared for the big shake. Anyone who has ever washed dogs knows that afterward they shake off the water with enthusiasm and get the entire area wet (including the person doing the washing). Having a tile surround and floor that can stand up to water will keep the big shake from damaging drywall and floors. If your dog is the type that runs around the house in crazy circles after a bath, we recommend having a door that you can close on your laundry or mudroom until Sparky finishes the big shake! Having towel storage handy is also a great idea!
- Go bigger with the drain. A 3-inch drain is recommended in a pet washing station. It will handle dog hair better than the standard 1½- to 2-inch shower drain. Having a hair filter over the drain is also a great idea!
- Consider an elevated dog bath for smaller pets. It will be easier on your back and knees in the long run, as long as your dog is willing and able to jump into it, or you don't have a problem lifting your pet into place.
We have great working reltionships with local renovation teams & custom home builders in Regina, so don't hesitate to reach out if you are looking for a referral for your next project or build!
As always stay safe & well!
~ Karin & Jen
Posted on
April 8, 2020
by
W2 Realty Team
We know you’re out walking Fido more often than ever right now and that means dodging puddles and coming home with wet or muddy feet...both of you perhaps!
And then there’s just the normal doggy self-care required occasionally to get that pup looking & smelling great!
So if you’re thinking about adding a pet wash station to your home renovation or new home design, check out these 5 great design tips!
PS Double Duty - you can use a pet wash station for cleaning dirty golf clubs, gardening tools and even the kids after a busy day of playing in puddles too! Win win!
- Incorporate the washing station into the mudroom. Mudrooms are a very popular spot for dog wash stations. You normally enter the house from the back or side door, so their muddy paws never have to make it into the rest of the house.
- Include a handheld shower or sprayer. Not only will it help you get your dog's entire body nice and clean, but it will also let you to do a quick paws-only wash.
- Be prepared for the big shake. Anyone who has ever washed dogs knows that afterward they shake off the water with enthusiasm and get the entire area wet (including the person doing the washing). Having a tile surround and floor that can stand up to water will keep the big shake from damaging drywall and floors. If your dog is the type that runs around the house in crazy circles after a bath, we recommend having a door that you can close on your laundry or mudroom until Sparky finishes the big shake! Having towel storage handy is also a great idea!
- Go bigger with the drain. A 3-inch drain is recommended in a pet washing station. It will handle dog hair better than the standard 1½- to 2-inch shower drain. Having a hair filter over the drain is also a great idea!
- Consider an elevated dog bath for smaller pets. It will be easier on your back and knees in the long run, as long as your dog is willing and able to jump into it, or you don't have a problem lifting your pet into place.
We have great working reltionships with local renovation teams & custom home builders in Regina, so don't hesitate to reach out if you are looking for a referral for your next project or build!
As always stay safe & well!
~ Karin & Jen
Posted on
April 2, 2020
by
W2 Realty Team
Can we talk about this renovation!?!? It took awhile for us to find these amazing clients the right home, in the right area, for their family ...and that would allow them the opportunity to renovate and make it their own. But we did….and they did ….and it looks fantastic! This is a spacious bungalow in SE Regina that had a fairly typical design from the early 2000’s ….a front to back plan where the kitchen/dining area opened up onto the back yard/deck but was separated from the large living area by a full wall. So how do you open up the space to create open concept living and still have a great functional kitchen after you eliminate a wall of cabinets? Well ….this is how
We LOVE this kitchen and everything about it…the white cabinets with brass pulls, clean white quartz countertops with waterfall island with tons of extra cabinets … and that range hood!! Not to mention, the cool lighting from Richardson Lighting - Regina …and those beautiful stools from Hunters Furniture!
The flooring was replaced with a lighter hardwood throughout to provide one seamless surface through the living areas! Updating all of the former oak window & door trim and baseboards with white trim is a simple way to modernize and brighten up the space! What a difference that made
Thanks to our great clients for sharing this with us & kudos to Citizen Design Co. for the design inspiration!
There are so many great value opportunities in our Regina market right now where you can also update the space to make it your own!
And you may also qualify to take advantage of available “purchase plus improvements mortgage plans” to help pay for those renovations. If you are thinking about buying a home, and have questions about the process or need a referral to a lnder or mortgage broker, feel free to contact us...we’d love to hear from you! ~ Karin & Jen
Posted on
April 1, 2020
by
W2 Realty Team
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!
Email: info@w2realtyteam.com
"Your Proven Regina Real Estate Team"
Posted on
March 30, 2020
by
W2 Realty Team
While we know the most important thing we are dealing with right now is an unprecedented health crisis, we also know that it is a super stressful time for many people from a financial standpoint.
We are happy to hear that both our Provincial & Federal governments have announced many measures to help everyone through this time, and those financial aid programs continue to be expanded as the need grows.
So what can we do right now to be proactive?
✅Check out all of the programs being offered to homeowners(including mortgage payment deferral), families & businesses to see what you can benefit from:
Canada’s COVID-19 Economic Response Plan: https://bit.ly/3dcA92v
Sakatchewan's COVID-19 Suppport Plans
There are a number programs available through your lender to defer mortgage payments & we recommend you contact your lender or your mortage broker to discuss your options.
Check out this informative Blog on the subject from our colleague, Candice Carr, mortage expert form TMG, including contact info for all of the major lenders.
Thinking of Deferring Your Mortgage Payment?
Also, here are some great tips on how we can take control from BNN Bloomberg’s Pattie Lovett-Reid:
"On a personal level: - Be razor-sharp on what your expenses are over a two, or maybe three-month period. - Pull back on discretionary spending. - Get clarity around your company's salary policy if you become ill and have to stay home. - Interest rates have been lowered by the Bank of Canada, so get to know your numbers in terms of reduced mortgage payments, loan payments etc. Expect the banks to provide clarity on this in the coming days. You might consider asking for mortgage payment relief for a month to free up cash flow. - If you are having trouble making ends meet, reach out to all your creditors and request temporary relief. You are not in this alone. - Look to negotiate all contracts and possibly suspend contracts and memberships where you can"
Check out the entire article here: "Amid a crisis, take control where you Can" https://bit.ly/33rnp3C
We work with great mortgage brokers and we recommend you talk to a specialist to find out what options will work best for you right now, for both existing mortgages and also if you are considering a buying a home at this time.
Of course if you have questions about what's happpening with the Real Estate market in Regina, feel free to reach out to us....we're happy to help!
We will all get thought this together with a plan!
~ Karin & Jen
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