The following information comes from the Association of Regina Realtors weekly update:

Through the week ending January 15, 2011, New Listings were on par with the previous week, with 101 homes added to the market; however, it was an increase of 23.2 percent over last year's activity. Firm Sales also jumped over last year by 35.3 percent with 46 homes sold.
Inventory remains in line with 2009 but dropped below last year's levels in recent weeks. The week ended with 960 available homes, a decrease of 4.8 percent. Months Supply of Inventory in December was at 4.0 months, and looking at market times, Days on Market fell back below the 50-day mark in December to 48 days, a decrease of 7.1 percent from last year. 
Sellers also saw a 1.4 percent improvement in the Median Sales Price, which was at $240,000 in December, yet buyers still have some room for negotiation as the Percent of Current List Price received came down a slight 0.4 percent to 95.9 percent for the month.

For a complete list of Active Listings, Sold Homes (list vs sale price) and Days on the Market in your area call me at 533 1395 or send an email at curtis@exitrealtyfusion.com  I would be happy to pass it along.

Curtis

The following information comes from the Association of Regina Realtors weekly update:


Through the week ending January 1, 2011, activity in the Regina region remained seasonally low, but that should change in the coming weeks as has been typical in recent years. Looking at key metrics, New Listings were down by 40.6 percent with just 19 homes added to the market. Last year there were 32 homes added during the same week.

    Firm Sales were down by 23.1 percent when compared to last year's activity with 20 contracts written. With barely any new properties added, and despite the handful of homes sold, the total number of Active Listings for Sale was down by just 2.0 percent from last year, to 1,052 properties. Months Supply of Inventory did increase by 8.0 percent to 4.0 months, however, the twelve-month average was down by 20.2 percent.

     With supply being a bit low for overall market demands, the Median Sales Price was able to increase by 6.9 percent, for the twelve-month average, to $249,496. For just the month of December, prices increased by 1.4 percent to $240,000. There was a bit more room for negotiation towards the end of the year, but sellers were still able to get 95.9 percent of their list price.


For a complete list of Active Listings, Sold Homes (list vs sale price) and Days on the Market in your area call me at 533 1395 or send an email at curtis@exitrealtyfusion.com  I would be happy to pass it along!

Curtis

Last week I visited a family friend who recently lost her husband. She is thinking of selling in the future and decided she needed to have some work done in her Whitmore Park home.

Her husband was the one that took care of the home maintenance. As you can imagine it was a difficult decision to have the work done but she bravely pushed forward.

I received a call from my 83 year old father after he visited her house and found the level of craftsmanship was less than skillful. That's when I called her and asked if I could come over to lend some support and offer some advice.

The house was a mess. Poor painting, basement walls braced and covered but no engineers certificate, poor finishing and trim work. If it was my house I wouldn't have paid a dime for it. Unfortunately she had already paid him $4000 and he was still coming back to "settle" the rest of the bill.

My advice to her and any others in her same situation is "work first, pay later". Make your contractor give you a detailed estimate of the costs involved and what exactly it covers. Agree on a payment schedule with certain benchmarks to be achieved before any payment will be made.

The only exception is materials. It's okay to reimburse for material but make sure you ask to see a copy of the receipts. Also, ask your contractor if they charge a mark up on materials. They may be buying a can of paint for $18 and selling it to you for $35.

It is tempting for seniors to trust that people are honest and will do what they say they are going to but reality tells a different story.

Oh, he also broke the toilet taking it off and wanted to charge her for it.

The following information comes from the Association of Regina Realtors Monthly MLS update:

 The Canadian housing market seems to be faring well in 2010—certainly better than the U.S. market. Fueling this is a combination of low interest rates and fairly strong demand. Although some are hinting at potential volatility down the road, this will vary greatly from location to location. Let's examine the local situation.

 Firm Sales in the Saskatchewan Provincial region decreased 12.1 percent from last September to arrive at 1,158. New Listings increased by 5.9 percent since last September and the overall inventory of 7,942 increased by 10.4 percent.

 Median Sales Price increased by 2.6 percent compared to last September, registering in at $218,000. Average Days on Market, at 60, increased by 0.4 percent versus last year. Month’s Supply of Inventory increased by 27.4 percent to weigh in at 7.3 months.

 For the sake of long-term market stability, be wary of an overabundance of listing activity. If homes aren't selling like they used to, but listings remain fairly flat, inventory will climb and prices may adjust downward. Balanced supply and demand, as always, is the ultimate goal.

Curtis

The following information comes from the Association of Regina Realtors® weekly MLS® update:


For the week ending August 21, New Listings in the region remained below last year's levels, down 15.4 percent with 110 new properties added to the market.

Buyer activity continued its up-and-down trend of recent weeks, going up 4.3 percent last week as 96 Firm Sales were recorded. This helped to bring the Ratio of Firms Sales to New Listings up 23.3 percent which is the highest this metric has been since April.

Overall inventory kept with 2009 levels. Active Listings for Sale were down 0.6 percent to 1,625 homes. With buyer activity up and inventory lower, the Months Supply of Inventory metric was 21.1 percent below last year at 5.3 months.

Based on July numbers, sellers averaged receipt of 96.6 percent of current list price, a Median Sales Price of $275,000 (an 18.3 percent increase over last year) and 35 Days on Market Until Sale (a welcome 22.0 percent decrease).


Curtis

The following information comes from the Association of Regina REALTORS weekly MLS update.

 After three straight weeks of gains versus last year, New Listings in the region fell 12.5 percent, with 112 new properties coming onto the market through the week ending August 14.

    Buyer activity returned to a lower-than-last-year pace after it received a bump last week. There were 73 Firm Sales recorded last week, which represented a 22.3 percent drop from 2009.

     Between the new listings and sales, the 1,622 Active Listings for Sale metric was even with last year. This is helping to keep the Months Supply of Inventory low at 5.3 months.

    Monthly metrics are also showing improvement. Sellers could expect to receive 96.6 percent of current list price, a Median Sales Price of $275,000 (an 18.3 percent increase over last year) and market times of 35 days (a welcome 22.0 percent decrease).

Curtis

The following information comes from the Association of Regina REALTORS weekly MLS update.

  Firm Sales in the Regina region weighed in at about 29 percent under last July. though they only decreased 1.1 percent by year-to-date measures.

    New Listings decreased 2.9 percent since last year but were only down 0.4 percent by year-to-date figures. Inventory fortunately decreased by 4.8 percent from last year.

    In response, Median Sales Price skyrocketed by just over 18 percent since last year to arrive at $275,000. Buyers were willing to pay 96.6 percent of sellers’ asking price and market times shrunk by 22.0 percent to just over one month.

    Months Supply of Inventory was up 8.4 percent to arrive at an even 5.0 months of housing supply, given current demand. That is good news as a balanced market typically has between five and six months of supply. Well done.

    In sum, the housing market is holding its ground in the face of many global economic uncertainties.

Curtis

The following information comes from The Association of Regina REALTORS weekly MLS update:


For the week ending July 24, New Listings in the Regina region jumped well above last year's levels. Sellers added 153 homes to the market which represented 29.7 percent more activity compared to the same week in 2009.

    From a seller's perspective, this made sense as key factors continued to improve. Months Supply of Inventory held at 4.7 months and market times remained just over one month. Median Sales Price was up 9.5 percent to $262,750, and the Percent of Original List Price Received at Sale was up slightly over last year.

    Buyer activity remained slower than the previous year as Firm Sales decreased 23.7 percent with 71 contracts written.

    Despite the increase in listings and decrease in contracts written, the drop in inventory year-over-year continued last week, down 4.9 percent to 1,638 Active Listings for Sale.


Curtis

It's ugly, it's stinky and it's in your house (the spores are anyway) looking for some moisture to feed on. 

Mold is nature’s way of decomposing organic materials. Here are some quick facts to keep your house a mold free zone.

Molds have the potential to cause health problems because they produce allergens, irritants, and in some cases, potentially toxic substances (mycotoxins). Inhaling or touching mold or mold spores may cause allergic reactions such as sneezing, runny nose, red eyes, and skin rash.Every dwelling has mold spores, unless the property is under experimental conditions, such as a laboratory.

Mold spores can enter buildings on air currents, shoes, clothing and pets.

The majority of molds are non-toxic. If you are concerned about mold in your home you should contact a qualified mold specialist. 

Those are some facts, now for the good news (and the bad news).  The good news is that mold can’t grow without water so if you have a mold problem you really have a moisture problem.  Keep the moisture away and keep the mold at bay.  The bad news is we live in Regina and we are well known for our leaky, damp basements.  Proper ventilation, good cleaning and adequate exterior drainage should be enough to control mold growth in most instances.
Smart home buyers are the ones that are the best informed.  A little mold doesn't have to be a deal breaker, there are remedies.  When purchasing your home insist your Real Estate Agent give you the facts and suggest solutions.
Curtis

A Worker Frames a Sage Condo Building In Harbour Landing



When I show homes sometimes buyers that know a little bit about home building ask if the home is 2x4 or 2x6 construction. Sometimes they don't have any idea what it means somebody just told them to ask, so here's the answer.  Prior to the late 1970's homes in Regina were framed using 2x4's for the exterior walls.  If your home was built early enough the 2x4's may even actually measure 2 inches by 4 inches!  After about 1979 builders started using 2x6 lumber to allow for more room for insulation producing a more energy efficient home.

Curtis