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We have just listed this great property at 1928 Atkinson ST in Regina.
This is a fantastic character 1 3/4 story home in Broders Annex. Well maintained with many upgrades! The main floor has 9' ceilings, and contains a large front porch, a living room and dining room both with hardwood floors, and a spacious kitchen. The second floor has two large bedrooms, a updated bathroom with glass shower, and a convenient laundry room. The yard is a good size and features a newer deck. Many upgrades over the last few years, including a high efficiency boiler, on demand water heater, pressure treated deck, custom shower with glass enclosure, front exterior paint, and much more. Don't miss this great home!
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We have just listed this great property at 2159 Retallack ST in Regina.
Welcome to 2159 Retallack Street. This awesome property is located in the heart of the Cathedral neighbourhood and is the perfect combination of classic character and modern convenience. The main floor is incredibly spacious and welcomes you in with a bright front porch, flowing into a foyer, connected to a bright living room, a completely remodeled kitchen, dining area, and a massive family room with a convenient 3 piece bathroom. The upstairs is full of character, and boasts three good sized bedrooms, and another four piece bath. The basement is partially finished with a family room and another bedroom plus utility and storage. The yard is beautifully landscaped with your very own garden, massive deck with hot tub (negotiable) and a double detached garage. The home has seen numerous upgrades over the last few years including upgraded insulation and siding on 2nd floor, shingles on house and garage, eaves, paint, flooring, full kitchen reno, and much, much more! Don't miss this amazing property in the most spectacular location. Call to view it today!
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We have just listed this great property at 875 RETALLACK ST in Regina.
Welcome to 875 Retallack St. This 1913 built, 720 square foot, 3 bedroom, 1 bathroom bungalow sit on a 25'x125' lot in Reginas Washington Park subdivision. This make a great rental property as expected rental income would be approx $900. Can be bought with 905 Rae St. (same seller)
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We have just listed this great property at 4818 Green Rock RD E in Regina.
Welcome to 4818 Green Rock Rd. E. This fantastic townhome shows a ten out of ten, with pride of ownership shining throughout. Finished in a contemporary style, this home features a open floor plan, with a convenient den, bright kitchen, dining area with doors onto the large deck, and a large living room. The second floor boasts a unique double master set up, with two large bedrooms, each with a walk in closet and ensuite bathroom. The yard is fully fenced and landscaped, contains a double detached insulated garage with a drive through door for additional parking if required, a beautiful stampcrete patio, deck, and a convenient bbq gas line hook up. This home is ready for new owners, so come see it today!
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We have just listed this great property at 1261 Grey ST in Regina.
Welcome to 1261 Grey St. This excellent condo boasts 1226 square feet, and is in immaculate shape! The main floor contains a large living room with huge windows for extra light, open kitchen with granite countertops, convenient dining area, and a two piece bath. The second floor is bright and spacious with three good sized bedrooms, a four piece bath and a private bath and walk in closet off the master bedroom. The condo comes with two parking spots, storage, and patio. The complex is beautifully landscaped with additional guest parking, play structure for kids and is conveniently located near elementary and high schools. Don't miss this excellent and affordable property!
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We have just listed this great property at 905 RAE ST in Regina.
Welcome to 905 Rae Street. This 1946 built, 660 square foot, 2 bedrooms, and 1 bathroom bungalow sits on a 3,122 square foot lot in Regina’s Washington Park subdivision close to bus routes and shopping amenities. You enter this home into the spacious living room with loads of natural light. The main floor has 2 good sized bedrooms and 3 piece bathroom. You continue to the kitchen with included fridge and stove, and then finally to the laundry room. The yard of this home is partially fenced and has 2 parking spaces. Seller also owns 875 Retallack St. and would love to make a package deal on both!
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We have just listed this great property at 302 2128 DEWDNEY AVE in Regina.
Welcome to #302 - 2128 Dewdney Ave, in The Ackerman building! This 915 square foot third floor condo is located in Regina’s warehouse district downtown .The Ackerman building was originally built in 1910 and survived the tornado that tore through Regina in 1912 that took the top 2 floors off of this building on Dewdney Ave. This beautiful piece of history is about a 10 minute walk to downtown and is close to restaurants, bars, gyms, shops and much more. You enter the condo into the bright and open living room and kitchen with a west facing window. The kitchen has granite countertops, a tile backsplash and includes a stainless steel fridge, stove, microwave and dishwasher. The bathroom is updated with modern fixtures and a contemporary look. There is one bedroom and a den in this condo. A bedroom has a spacious closet and another west facing window. The den that can be used as an office. This unit also has a storage area on the 3rd floor. Condo fees are $350 which isn't bad considering the age of the building and that they include water, sewer, common area maintenance, building insurance, snow removal, garbage/recycling.
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We have just listed this great property at 2339 Garnet ST in Regina.
Welcome to this excellent character home in the heart of Regina's desirable Cathedral neighbourhood. Featuring a spacious main floor with high ceilings, the home boasts a large living room with numerous large windows, formal dining area, a fully renovated kitchen with granite counters, new cabinets, dark stainless steel appliances, and massive island. Two good sized bedrooms are conveniently located to suit any growing family, and the main level is completed with a fully updated four piece bath. The basement has been renovated with a large living room, bedroom, kitchenette, and another three piece bath. The yard is fully fenced with decks front and back, single detached garage, patio, and trees and shrubs. This home has seen so many updates, you won't believe it when you see it. You must check it out today!
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5 Factors That Reveal Where The Real Estate Market Is Really Headed


In a July release, the Canadian Real Estate Association reported that home sales had fallen for three months in a row after reaching an all-time high in March.1 So could one of the world’s hottest real estate markets finally be headed for a downturn?


We wouldn’t bet on it. That’s because even though sales have slowed, it was still the strongest June on record—and 13% higher than last year.1


"Don't be fooled — this is still an extremely strong level of demand," Bank of Montreal Economist Robert Kavcic told CBC News. "Home sales have backed off extreme levels seen in recent months, but demand is still historically strong and driving strong price growth. We believe that sales activity will continue to gradually cool in the year ahead, but it's going to take higher interest rates to soften the market in a meaningful way."1


So what can we expect from Canadian real estate? Here are five factors that illustrate where the housing market is today and is likely heading tomorrow.



HOME PRICE INCREASES MAY LEVEL OFF NEXT YEAR


The Canadian Real Estate Association predicts the national average home price will reach $677,774 by the end of 2021, which would be a 19.3% increase over last year. “While market conditions have eased a little in recent months, they nonetheless continue to favour sellers to some extent in virtually all local markets,” the association says.2


But for the remainder of 2021 and into 2022, the association anticipates pricing trends will head toward more normal territory. “Limited supply and higher prices are expected to tap the brakes on activity in 2022 compared to 2021,” according to the association.2


That translates into the association’s forecast of only a 0.6% uptick, to $681,500, in the national average home price for 2022.2 If that happens, it could prompt some buyers who had been reluctant to make purchases this year to enter the market next year.


What does it mean for you?


If you’re a homeowner, now might be the time to look at selling. That’s because the number of available homes continues to be relatively low, and price appreciation has begun to slow. We can help you prepare and market your home to take advantage of the current seller’s market.



HOME SALES ARE TAPERING OFF


If the 2021 home market in Canada is a wildfire, then 2022 could be more like a campfire. The Canadian Real Estate Association anticipates a slowdown in home sales activity in 2022 following an extremely busy 2021.3


An estimated 682,900 properties are expected to trade hands through Canadian Multiple Listing Service systems in 2021, which would be an increase of 23.8% from 2020, the association says.3


Next year is shaping up to be much less active, with national home sales forecast to decline 13% to around 594,000 properties in 2022.3 


“This easing trend is expected to play out across Canada,” the association says, “with buyers facing both higher prices and a lack of available supply, while at the same time the urgency to purchase a home base to ride out the pandemic continues to fade alongside the virus itself.”3


The “easing trend” is already happening. Across the country, a record-high 69,702 homes were sold in March. But just a month later, the national number of homes sold slipped 12.5% to 60,967.⁴ Home sales volume dropped another 7.4% in May to 56,156.⁵


“One of the world’s [most active] housing markets appears to be slowing down,” the Bloomberg news service proclaimed in June in a report about the Canadian home market.⁶


What does it mean for you?


Are you struggling to buy a home in today’s highly competitive market? If so, 2022 might be a good time to pursue a purchase because you may face less competition. However, one drawback of waiting is that mortgage rates are expected to go up. We can help put you on the right path toward homeownership, whether you want to buy now or next year.



SUPPLY OF HOMES REMAINS LOW


The housing shortage in Canada persists. 


Before the pandemic, the number of available homes nationally sat at a 14-year low and the number of months of inventory had fallen below four months, according to the Canadian Real Estate Association.3


Inventory below four months puts the supply in “seller’s market territory,” the association says.3 Inventory refers to the number of months it would take for the current supply of homes on the market to be sold at the existing pace.⁷


In June, the Canadian Real Estate Association reported the national inventory of available homes was close to two months, reflecting an “unprecedented imbalance of supply and demand.”3 National inventory hit a record low of 1.7 months in March, compared with the long-term average of more than five months.⁷


“At a time where so many markets are struggling with historically low inventory, sales activity depends on a steady stream of new listings each month,” the association says.⁷


What does it mean for you?


A tight supply of available homes puts sellers in a strong position as long as demand stays high. So, if you’re a homeowner, placing your home on the market when demand exceeds supply could bring you a higher price. We can help you figure out when to sell so that you extract the maximum value from your home.



HOME CONSTRUCTION ON THE VERGE OF STABILIZING


Newly built homes add, of course, to the supply of homes available to buyers. And it appears that home construction in Canada is on the upswing.⁸


For all of 2021, construction is projected to begin on as many as 230,000 new homes in Canada, up from a little over 217,800 in 2020, according to the Canada Mortgage and Housing Corp. (CMHC). Even more homes could get underway in 2022 (as many as 234,500) and 2023 (231,900).⁸


“Housing starts will stabilize at levels consistent with household formation by the end of 2023,” according to CMHC.⁹


What does it mean for you?


More newly built homes coming on the market could mean an opportunity for buyers, as construction boosts the supply of available properties and eases the strain on demand. Bottom line: An influx of new homes may open more doors to homeownership. We can give you a hand in locating a new or existing home that fits your budget and your needs.



MORTGAGE RATES ARE SET TO RISE


Low mortgage interest rates help entice buyers to make a home purchase. That’s certainly been the case in Canada in recent months. However, mortgage rates are poised to creep up this year and next year, and even into 2023.10


An analysis from Mortgage Sandbox indicates five-year Canadian mortgage rates are expected to remain low by historical standards, but they are expected to continue rising in 2022 and 2023. The analysis indicates the fixed rate for a five-year mortgage could climb to 3% in the third quarter of 2022.¹¹


Low mortgage rates typically make it easier for homebuyers to qualify for a mortgage, as well. But on June 1, the Office of the Superintendent of Financial Institutions raised the mortgage “stress test” qualifying rate from 4.79% to 5.25%.12


According to the Toronto Sun, “It was intended in part to slow down the overheated housing market and likely in part because inflation (and higher interest rates) are on the horizon.”12


In a recent report, the British Columbia Real Estate Association forecast, “rising Canadian inflation — and the extent to which that inflation is a temporary phenomenon — is set to shape how rates evolve over the next year.”13


What does it mean for you?


Given the prospect that Canadian mortgage rates may go up during the rest of this year and into 2022, now might be the right time to think about borrowing money to buy a home. When interest rates rise, you pay more to borrow money. Whether you’re buying a new home or up for a renewal, you can lower your risk by locking in a fixed-rate rather than variable-rate mortgage.



ARE YOU THINKING OF BUYING OR SELLING?


It can be tough to sort out the Canadian housing market—where are home prices heading, are mortgage rates going up, is it the right time to buy or sell? We can help you answer all of those questions, and more. We then can work with you to come up with a plan tailored to your unique situation. Let us be your partner in the homebuying or home-selling journey.



Sources:


  1. CBC -
    https://www.cbc.ca/news/business/crea-june-stats-1.6103715
  2. Canadian Real Estate Association -
    https://www.crea.ca/housing-market-stats/quarterly-forecasts/
  3. Canadian Real Estate Association - https://www.creacafe.ca/quarterly-forecast-housing-activity-to-continue-easing-over-second-half-of-2021-and-into-2022/
  4. Global News -
    https://globalnews.ca/news/7868251/canada-home-sales-down-april/
  5. Global News -
    https://globalnews.ca/news/7950863/canada-home-sales-may-crea/
  6. Bloomberg - https://www.bloomberg.com/news/articles/2021-06-15/canada-housing-worlds-second-bubbliest-market-starts-to-look-fatigued
  7. Canadian Real Estate Association -
    https://creastats.crea.ca/en-CA/
  8. Canada Mortgage and Housing Corp. - https://assets.cmhc-schl.gc.ca/sites/cmhc/professional/housing-markets-data-and-research/market-reports/housing-market/housing-market-outlook/2021/housing-market-outlook-61500-spring-2021-en.pdf
  9. Canada Mortgage and Housing Corp. - https://www.cmhc-schl.gc.ca/en/blog/2021/housing-markets-expected-moderate-risks-remain
  10. Global News -
    https://globalnews.ca/news/7962282/rising-interest-rates-canadas-housing-market/
  11. Mortgage Sandbox -
    https://www.mortgagesandbox.com/mortgage-interest-rate-forecast
  12. Toronto Sun -
    https://torontosun.com/opinion/columnists/wild-new-stress-test-rate-makes-it-more-difficult-for-home-buyers-to-qualify-for-mortgage
  13. British Columbia Real Estate Association - https://www.bcrea.bc.ca/wp-content/uploads/mortgagerateforecast.pdf
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We have just listed this great property at 750 Retallack ST in Regina.
Welcome to 750 Retallack Street! This 840 square foot bungalow is perfect for first time home buyers or would be a great rental property. You enter into the sunny east facing living room with a large window. The kitchen comes with the fridge and stove and has plenty of room for a dining table. The main floor is completed with 2 secondary bedrooms and a 4 piece bathroom, and finally a spacious primary bedroom with his and hers closets. The included washer and dryer are downstairs in the partially finished basement that is mostly open for future development and is plumbed in for a future bathroom! There is grass in the front and back yard of the house and the fenced backyard would be perfect for having company over for a bonfire. The 14’x24’ single detached garage is also at the rear of the house.
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We have just listed this great property at 164 STAPLEFORD CRES in Regina.
Welcome to 164 Stapleford Crescent. This 1962 built bungalow is 950 square feet on a corner lot in Regina’s Regent Park subdivision. There’s a bus stop right in front of the house and it’s close to schools, grocery and pharmacy! You enter this house into the bright and spacious south facing living room and dining area. The kitchen includes a fridge, stove, dishwasher, over the range microwave and updated cabinets with tile backsplash. The windows on the main floor are all updated and there is laminate flooring shared throughout the main floor with the exception of the kitchen and bathroom which have tile flooring. The main floor also has 3 good sized bedrooms. The 4 piece bathroom upstairs is modern with tile around the tub. The basement has a large rec room and also has a 2 piece bathroom. This house has a 100 amp electrical panel and includes a matching Maytag washer and dryer as well as central air conditioning that you can control with the Nest thermostat. Outside you have a gorgeous large backyard with a patio and greenery. Along with the 22’x25’ double detached garage there is also RV parking.
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We have just listed this great property at 3721 Caen AVE in Regina.
Welcome to 3721 Caen Ave. This excellent home is in a prime location, steps away from Kiwanis waterfall park, Lakeview park, Wascana park, Lakeview Elementary school, and so much more! The house is a cool three bedroom wartime build, with a open living room, dining area, kitchen and 4 piece bath all on the mail floor. The second floor contains two large bedrooms, and storage. The basement is fully finished, with a large family room, another bedroom, and the utility/laundry area. The yard is fully fenced, with a deck, lawn front and back, and plenty of parking. Numerous upgrades have been done to the home, including trenchless sewer line replacement, main plumbing stack, high efficiency furnace, sump pump, backflow valve and much more. Don't miss this fantastic home in a spectacular location.
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