Hello Friends! Here is my final summary of 2019, and all that has happened in the Regina Real Estate market last year. I hope you enjoy it. All the best to you, and happy 2020!
NOVEMBER REAL ESTATE UPDATE
EPISODE 2 OF MARTINS "15 LESSONS FROM 15 YEARS IN REAL ESTATE"
Finding a New Home on a Tight Schedule
Wouldn't it be nice if you had all the time in the world to find your next dream home? You could leisurely browse the current listings, select homes you'd like to see, schedule visits on dates that are most convenient for you, and make an offer on a property only after you've had plenty of time to consider all the alternatives.
Sure, that sometimes happens, but it's not typical. Often, people shopping for a home are on a timeline. Sometimes a very tight timeline.
So how do you find your next dream home when you don't have all the time in the world?
First, you need to develop a clear picture of the home you're looking to buy. How many bedrooms? What size of property? What type of structure (two story, back split, etc.)? Then, you need to list your preferences. These might include "large kitchen" or "main floor office".
Once you've completed that exercise, you'll have a more detailed profile of the type of property you want. That will make it easier to decide which of the listings on the market you want to see.
You should also narrow down the area in which you'd like to live. If you have three or four targeted areas, and only consider listings in those areas, your home search will be much faster.
What if you don't know the neighbourhoods well? Visit a few. Drive around. Explore. Get as much neighbourhood data as possible, such as demographics, recreational activities, parks, shopping, schools, etc. Then choose the neighbourhoods that fit your lifestyle.
Finally, the best way to find a new home on a tight schedule is to work with the right real estate agent — someone who, like me, is experienced in the local market.
Call us anytime!
DEALING WITH SALES PEOPLE
Hi! Martin here with a quick video on a recent experience I had in dealing with sales people. I hope you enjoy it. Cheers!
August Real Estate Market Update
ASK THE EXPERTS - MORTGAGE UPDATE
Ian Leverington from Crown Mortgage was in the office the other day, and we had a chance to discuss mortgage rates, and some of the challenges buyers are facing in today's market. Check it out!
NEW VIDEO! 830 DOLAN ST. N. Regina Sask.
Welcome to this remarkable two story home, situated on a quiet street in the family friendly neighbourhood of Sherwood Estates. The house boasts a very nice and open floor plan, with a large living room, dining area, kitchen with updated appliances and plenty of cabinets on the main floor. Upstairs contains three good sized bedrooms, and a 4pc bath. The basement is finished with a family room, and a laundry/storage area. The house is situated on a quiet street, and features an oversized and heated double detached garage, decks front and back, long driveway, and is fully fenced. Many updates in recent years, including siding, windows, paint, flooring, trim, doors, deck front and back, rigid insulation on exterior, and shingles. This home is ready to move in, just bring your furniture!
Here's a video on the Seven Mistakes to avoid when selling your home
Preparing your home for Sale
Should You Rent Out Part of Your Home?
Have you ever considered renting out a room to a student or renovating your basement into a self-contained rental apartment?
It’s a big decision. There are many pros and cons to consider.
On the pro side, renting can provide you with additional income. An extra few hundred dollars a month can go a long way towards paying down your mortgage or splurging on an exotic summer vacation.
Creating rentable living space in your home — for example, an “in-law suite” featuring a kitchenette and bathroom — may also increase your property’s market value.
On the con side, you’ll have more costs and responsibilities as a landlord. For example, you might need to purchase extra insurance because basic home insurance policies typically do not cover rental units, even if you’re just renting out a room. You’ll also be responsible for dealing with repairs sometimes in the middle of the night.
Also, if you’re not careful about the renter you choose, you might end up with a “problem tenant”. For example, you could have a tenant who is consistently late on rent payments or simply stops paying. That can be stressful.
If you’re deciding whether or not to rent, be sure to check local laws and regulations. Many jurisdictions have very strict rules regarding renting out space in a residential property, and those rules change frequently. Make sure you get the latest information.