Real Estate Word -- Buying a College Crib for your Kid April 2018   

 
If your teen's heading off to college or university this fall, you’ll need to start thinking about accommodations. This month’s article explores the option of purchasing an investment property for them to live in and manage.

Our second article is a real estate market update.  Many of our clients appreciate this update.  It is one of the services we provide so that you keep current on what's happening in our local market.  Don't hesitate to reach out to us if you have any questions.

We have recently exclusively listed a remarkable modern downtown PENTHOUSE CONDO with fantastic views of Saskatoon and the river valley.  Must be seen to be fully appreciated.  I would be happy to show this property to you, just give me a call.
 
There’s also some advice on how to babyproof your home as well as a few spring home maintenance tips to help you get ready for the nice weather that’s right around the corner!

Our last article is a "one pan supper" recipie that my family often enjoys.  It serves 2 so it's great for those evenings when there are only 2 of you for supper.   Enjoy!

Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

Best Regards,
Henry

In this issue...
Decline in Home Sales First Quarter 
In the first quarter of 2018 there were 648 residential home sales in Saskatoon, this represented an 11% decline year over year from 2017. The year over year decrease in home sales for the month of March was 24% with just 234 residential transactions last month. The number of new listings introduced on the MLS® for Saskatoon is also down for the quarter with 2,183 in 2017 compared to 1,807 so far this year. 

 Active residential listings in Saskatoon at the end of March totaled 1,670 for both single and multi-family homes, consistent with the five year average of 1,695. This current level of inventory would take just over seven months to liquidate at the current rate of sales. 

The reduction in active listings is not only the result of fewer homes being listed on the market. Some sellers may have decided not to relist their home just yet, opting to wait for the more active spring market. The real indicator of success in selling is correct pricing based on what else is competition in the market and the current market conditions relative to supply and demand.

The sales to listing ratio is a comparison of the number of sales for a period of time to the number of new listings. The intent of this ratio is to attempt to determine if it is a buyers or seller’s market. A ratio between 40% and 60% is considered to be a balanced market. A ratio below that is considered a buyer’s market and above, a seller’s market. The sales-to-listing ratio for March was 35%, down slightly from the five year average of 40%. Last month, the average home in Saskatoon took 64 days to sell compared with 47 days in March of 2017. The five year average for the Saskatoon market is 50 days.

The average year to date residential sale price continued its steady decline by 2%. For the first quarter of 2018, the average home sale price in Saskatoon was $333,826. Since averages can be misleading, a better reflection of the market is the median. The median home sale price continued to decline from $330,000 in January, to $317,250 in March. In March of 2017, the median price was just slightly higher at $320,000. The five year average for median residential home sale prices in Saskatoon is $330,000.

The Home Price Index Composite Benchmark Price (HPI) increased slightly for the first time since June of 2017 to $293,200. By comparison this value was last seen in February of 2012. The highest point reached by the HPI was $319,600 in May of 2015. The recent decline in the HPI showed signs of slowing in January of 2018.The HPI is the most accurate indicator of where home prices are trending. For more information on HPI go to saskatoonrealtors.ca.

Information provided by: Jason Yochim CAE, CRAE
Saskatoon Region Association of REALTORS® 

Exclusive Penthouse Condo - Exceptional Views of Downtown & River Valley 
We would like to share with you some information on an exclusively listed  Penthouse Condo.  Spectacularly renovated, bright and spacious 2119 sq. ft., this beautiful condo features a large foyer opening into the living room, dining room area with panoramic views.  A superbly designed Kitchen featuring a large island, quartz countertops, high end stainless steel appliances including double oven, cook top stove, chimney styled hood fan, and newer 36" refridgerator.  Oak wood flooring in dining room, living room, and most hallways.  Master bedroom offers a breathtaking view of the river and downtown Saskatoon.  Cermic tile flooring in kitchen and bathrooms.    Den has excellent abinetr6y plus cork flooring & 4 piece Bath ensuite.  The building is concrete offering excellent soundproofing and this unit comes with two heated underground parking stalls, and two storage sheds located in garage area.   Must be seen to be appreciated.  Check out this link for more info 
http://saskatoonrealestate.com/mylistings.html/listing.505-12th-street-east-saskatoon-s7n-4h3.73872883.   Contact me to book a viewing.

Buying a College Crib for Your Kid 
This exciting life event could be a great investment opportunity!

There's an air of excitement when your kids move out to study at college or university but it can also be a very expensive time.

Purchasing an investment property may be one way to offset those expenses. The idea is to cover the mortgage payments with the rent collected from roommates while your child manages and maintains the property.

As with any home purchase, you’ll want to carefully evaluate local market conditions so it’s important to select the right real estate agent. If you don’t already have someone you feel comfortable with, let me know and I can refer you to a professional who has a firm grasp of the local market.

Local rents, vacancy rates and zoning laws should also be examined. Finally, it's important to consider your long-term goals and determine whether you plan on renting it out once your child graduates as this will affect the rate of appreciation.

Specific purchasing details such as co-signing the mortgage or listing your child on title should be discussed with your financial planner and mortgage advisor. There are pros and cons to different ownership scenarios so you'll want to examine what makes sense for your specific individual situation.

Purchasing an investment property that's managed by your child is a decision that shouldn’t be taken lightly but it's certainly an option worth considering. It could end up being a great opportunity but make sure you do your homework so you can carefully weigh up the risks and rewards. When you crunch the numbers, you may just find that purchasing a campus crib makes great cents :)

The Foolproof Way to Babyproof Your Home 
Little ones love to explore so be sure to properly prep your home.

The arrival of a new baby brings many responsibilities, one of which is babyproofing your home. Here are a few things to keep in mind when preparing your home for your new little bundle of joy:

  1. Slam Jam - Install door stops/holders so fingers don't get caught.


  2. Tie Up Loose Ends - Tie up blind and curtain cords so they’re out of reach.


  3. Cabinet Caution - Make sure cabinets and drawers are equipped with safety latches.

  4. Don’t Cut Corners - Cover any sharp corners such as those on coffee tables with foam.

  5. It's No Shock - Cover electrical outlets with safety plugs so that they're not able to shove keys or other objects into them.

  6. Strong Attachments - Securely tether any furniture that could tip over such as dressers and shelves so they won’t come tumbling down if your little one starts climbing.

  7. Supermax Security - Install a baby gate at the top and bottom of your staircase. Make sure they're attached directly to the wall and not just pressure mounted.

It’s best to babyproof your home before your little one arrives as it'll be the last thing on your mind when you're a tired new parent. Getting down on all fours and crawling around will help you see hazards from their perspective.

Spring Home Maintenance Tips 
It's the time of year to give your home a complete physical.

Spring has sprung so it's time to take a good look around your home, both inside and out and conduct some preventative maintenance. Here are just a few ideas to get you started:

  • inspect your attic for rodents and roof leaks

  • inspect your roof and the flashings around your chimney

  • check seals around windows/doors and fix damaged screens

  • repair fences, posts, steps, decks, railings and outdoor furniture

  • clean out your gutters and make sure all of the downspouts drain away from your foundation

Your home is likely your biggest investment so it's important to perform regular maintenance in order to keep it in tip-top shape. If you set aside a couple of days now, you'll be able to sit back, relax and enjoy your home when the summer finally arrives!

One-pan salmon with roast asparagus 

Ingredients

  • 400g small potatoes, halved if large
  • 2 tbsp olive oil 
  • 8 asparagus spears, trimmed and halved
  • 2 handfuls cherry tomatoes
  • 1 tbsp balsamic vinegar
  • 2 salmon fillets, about 140g/5oz each
  • handful basil leaves

  1. Heat oven to 220C/fan 200C/gas 7. Tip the potatoes and 1 tbsp of olive oil into an ovenproof dish, then roast the potatoes for 20 mins until starting to brown. Toss the asparagus in with the potatoes, then return to the oven for 15 mins.
  2. Throw in the cherry tomatoes and vinegar and nestle the salmon amongst the vegetables. Drizzle with the remaining oil and return to the oven for a final 10-15 mins until the salmon is cooked. Scatter over the basil leaves and serve everything scooped straight from the dish.





PS Are you frustrated by scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold?  Sit back, relax and let me do the work for you!  Just visit my website and check off the features you're looking for.   Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started.

Not meant to solicit clients already under contract.