Buying April 2, 2020

5 Saskatoon Neighbourhoods You’ll Want to Call Home

Home to a fantastically diverse population, Saskatoon features many different neighborhoods to choose from. Whether you’d prefer mature and settled or new and bustling, you can find it here in the City of Bridges!

If you’re looking for the right neighbourhood to start your home search, there are many things to take into consideration, like lifestyle, access to amenities, and community life. Here are some of the most popular neighbourhoods in Saskatoon right now:

Nutana

The original settlement of Saskatoon, Nutana is situated right along the South Saskatchewan River and is one of the most popular neighbourhoods in the city. Not only does it offer easy access to the natural beauty of the river views and Rotary Park, but it’s also just a quick trip over the bridge to the downtown core. Plus, it features the bustling Broadway Avenue business district, allowing you to effortlessly find both culture and convenience right on your doorstep—with festivals and heritage buildings just around the corner.

With most of the houses in Nutana being built prior to 1980, it is the perfect place to start your search if you have your sights set on a character home. And if you’re still wanting to buy new, you can still find it here, with many infill properties cropping up, affording you the additional benefit of the mature landscape!

City Park

Located right at the heart of Saskatoon, City Park is home to some of the most stunning real estate to be found along the river valley. Originally known as Central Park, it boasts some of the greatest outdoor spaces in the city, including Meewasin Park, Wilson Park, Kinsmen Park, and Mendel Site Park. Not to mention, it is conveniently located alongside the downtown core for the easiest access to amenities that you can imagine.

One of City Park’s best features, though, is the City Park School, a unique multi-use school that caters to meet the needs of all students struggling to learn in traditional methods. Their specialized learning programs include an Ecoquest outdoor classroom, a FLEX Program for athletes and artists, and the Online Learning Centre!

As a mature neighborhood, much like Nutana, most homes in City Park are character homes. However, it is also an excellent neighbourhood to find many condos for sale, as well!

Silverwood Heights

One of the largest subdivisions in Saskatoon, Silverwood Heights is a fantastic family neighbourhood, home to 5 schools and over 75 acres of parkland! Priding itself as an active and beautiful community, residents of Silverwood Heights will love the all-season access to the Meewasin Trail in their backyard, as well as the close proximity to all the amenities that Lawson Heights has to offer! This includes the Lawson Height Mall and the ever-popular civic centre, featuring a wave pool, sauna, and fitness centre that the whole family will love!

As a family-oriented community, Silverwood Heights is a great place to start your search for single-family homes for sale, with many options available to suit your family’s needs.

Evergreen

Evergreen is one of Saskatoon’s newest neighbourhoods, with a focus on nature and outdoor living. Named after the 50-year old Scots pine trees that can be found on the south-east corner of the community, Evergreen prides itself on its outdoor spaces. Surrounded by parks and agricultural land, it is the perfect neighbourhood for nature-lovers and those who prefer living outside of the city without losing the easy access to amenities.

As a newer community, only having started construction in 2010, homes in Evergreen are newer properties and come in a wide array of options—from condos to townhouses to single family dwellings. And with 9 kilometres of looping trails throughout, it’s easy to get around by both foot and bike!

Kensington

If you’re looking for the convenience of modern living with the luxuries of traditional style, Kensington may just be the perfect neighbourhood for you. With a focus on quality of life first, this community was built to seamlessly blend accessibility and urban convenience. All the essentials you need can be easily found just minutes from every door in town, as well as a vast network of outdoor space, including greenways, pathways, ponds, and sports fields.

The community of Kensington also prides itself on its commitment to environmental sustainability, with over half of the single-family homes designed to take advantage of solar power. So if saving on the electricity bill and helping the environment sounds good to you—look no further!

 

No matter what your needs may be in for your future home, you can be sure there’s a Saskatoon neighbourhood perfectly suited to you! And if you’re not sure what your needs may be or would like more information on the neighbourhoods available to you, never hesitate to reach out and ask your REALTOR®!

BuyingSelling January 23, 2020

Seller’s Market vs Buyer’s Market: What’s the Difference?

One of the most common questions I get when working with new clients, especially first time home buyers, is “what’s the difference between a buyer’s market and a seller’s market?” These terms are commonly discussed when talking about real estate and have been particularly sensationalized on television. But while you may know them and have a general understanding of what they mean, the details of what makes these markets actually are may be a little less clear. So, let’s clarify that, shall we?

What is a Seller’s Market?

A seller’s market is when there are more buyers in the market than there are homes for sale. This means the demand for housing is higher than the actual supply of homes available, so sellers are at an advantage. They know that the need is there, so they can be more liberal with their pricing. The reality is that their house is going to sell—usually very quickly—and that there’s a higher chance they will receive multiple offers, giving them more power when it comes to negotiation, so it’s an excellent time for putting your house on the market.

Usually, you can tell when we’re in a seller’s market by looking at the trend in home prices and days on the market. When prices are up and the days on the market are low, it’s a great time to be a seller.

So what causes a seller’s market? Well, the most common driver for an increase in buyer’s is usually the local economy. When there are more jobs available, that will often attract more new residents, causing a surge in home buyers. But other influences toward a seller’s market include: lower interest rates attracting buyers or sudden spikes in interest rates pushing on-the-fence buyers to buy before prices go up even more.

What is a Buyer’s Market?

A buyer’s market is when there are more homes for sale than there are buyers in the market. The more selection the limited buyers have means a higher chance properties won’t be chosen, so sellers are forced to drive their pricing down to a more attractive number that can compete with the other properties available. This also gives buyers more power in negotiation, as they can always continue their home search elsewhere, so they can really get the most bang for their buck.

Signs of a buyer’s market can also be found by looking at the market trends for home prices and days on the market. When prices are down and the days on the market are high, it’s a great time to be a buyer.

A buyer’s market can be brought on by many different influences, including interest rate trends. Higher interest rates will limit the amount that lenders will offer buyers, thereby reducing the number of people in the market. New builds can also cause property prices to drop, increasing the supply before the demand is there, as well as natural disasters.

Tips for Working in the Opposite Markets

As much as it can be helpful to know what to look for to determine the type of market that your local real estate might be in, sometimes you don’t always have the option of waiting it out for when the market shifts. Financial or time constraints can often have you working in the opposite market—it happens! But that doesn’t have to mean you’ll be entirely out of luck. Here’s how to maximize your investment, even when the market isn’t quite in your favour:

Buying in a Seller’s Market

If you find yourself in need of buying in a seller’s market, you’ll be going up against a lot of other hungry home-seekers. Here’s how to stand out in the crowd:

  • Get pre-approved. While you might be anxious to start shopping before you miss out, I can’t stress enough how important it is to get pre-approved for a mortgage first. This shows sellers that a bank has already guaranteed you the lending amount you’ll need, so they won’t have to wait as long to hand over the keys!

  • Start with a strong offer. When the pickings are slim, there’s a much higher chance that any offer you give will be going up against at least one other, so you want it to be competitive. This is where working with a buyer’s agent can be extremely helpful, as we’ll be able to guide you on which offers will be most effective against the others.

  • If you like it, don’t wait. Houses in a seller’s market don’t last long, so if you’ve fallen in love with a house for sale, move quickly and don’t be shy about it.

  • Be responsive. Always be available to answer questions from the seller or your REALTOR® so you never miss out on an opportunity.

  • Be flexible. If a seller needs more time before move-in or is asking for other conditions, be willing to work with them.

Selling in a Buyer’s Market

If you’re stuck selling in a buyer’s market, your home is going to be compared to a lot of others. Here’s how to make your home stand out:

  • Know your competition. Have a good idea of what’s selling and look for common trends that you could apply to your home to make it more attractive.
  • Make sure the price is right. Money talks and when buyers have the power, you want to be the one offering them the best deal. Get a reliable home evaluation done and keep in mind that your home is only worth what someone is willing to pay.
  • Be flexible. If a buyer wants a quick possession or other reasonable conditions, do your best to work with them.
  • Consider every offer. It’s important to remember that every offer might be the only one you’ll see for a while, so take each one seriously. This is where an expert real estate agent can be a huge help in assisting you with weighing the pros and cons to make the decision to reject or accept.

 

If you’re considering entering the market as either a buyer or a seller, it’s important to know which kind of market you’re working with. Know the signs for each and keep your eye out so you can jump in at just the right time. And if you’re worried you won’t be able to tell when the time is right, don’t be afraid to reach out! I’m always more than happy to watch the trends for you and help you make the best decision in buying or selling any time of year!