Often having the most appealing listing prices, foreclosed homes for sale are some of the most popular properties on the market. Whether you’re a young couple interested in flipping or an experienced investor looking for new property to add to your portfolio, foreclosures are a great place to get started. But, while the price tags may be drool-worthy, there are some things to know before buying foreclosed homes that may have you reconsidering your appetite. 

What Are Foreclosures?

First and foremost, the most important step to buying foreclosed property is understanding exactly what it is and how the listing price makes any sense at all.

Foreclosures are properties that the mortgage lender has taken possession of after the lender

WEEKLY UPDATE

DURING COVID-19

In this report I will update the weekly stats for Saskatoon as well as the running stats during covid.

If you want to know where our housing market was before covid-19 click here.

This will eventually turn into live report!

New listings up last week! 12 more than the week before. Sales down again, 2 less than the previous week.

Good House are Selling!

The average days on the market (the time it takes for a house to sell once it has been listed) for the time period Jan. 1 2020 to the end of June 2020 is 103 days. The market has been "hot" ( houses are selling quickly) since the start of May, yet the average days on the market for May and June is 90, how can that be? You have to look deeper

One of the best things about Saskatoon is its stunning collection of beautifully-preserved historic homes. Scattered throughout the city, you can find these communities of culture and character that tell the unique past of times before us that can be hard to find in many places nowadays. And with their distinct architectural features and design characteristics, it's not hard to see why you may find yourself searching for “historic homes for sale” as your next real estate venture!

From ornate fireplaces and crown mouldings to established, mature landscaping, there are many benefits to buying a historic house. However, there are also some disadvantages that you’ll definitely want to factor in when considering the purchase, as well. 

Read the full

SASKATOON REAL ESTATE REPORT

WEEKLY UPDATE

DURING COVID-19

In this report I will update the weekly stats for Saskatoon as well as the running stats during covid.

If you want to know where our housing market was before covid-19 click here.

This will eventually turn into live report!

Sales Level Off!

Week of June 16th - June 23rd 

We had 4 LESS sales last week than the week before! New listings are down 10%, 171 this week compared to 192 the previous week.

There are many factors to consider when selling a home, from marketing to offer negotiations, but the most important of all is, without a doubt, the price. The price is the first impression that buyers get of a home, before they even look at the photos or the listing details, because it is the limitations of their budget that narrows their search. That’s why ensuring that your home is priced accurately and fairly from the start is key in guaranteeing a smooth and timely sale. So, in order to do so, you’ll want to avoid these common home pricing mistakes:

Read the full article at https://www.kentbraaten.com/blog/how-not-to-price-a-home.html

Full article written by Kent Braaten, local Real Estate Expert in Saskatoon with CENTURY 21 Fusion.

Whether you are moving to the Saskatoon area for work or are simply looking for a change, you may find yourself searching for surrounding communities, rather than homes for sale in the city itself. While some prefer the shorter commute and extensive access to amenities and entertainment that city living can provide, others may prefer the quiet of a smaller town. Thankfully, there are a number of towns surrounding Saskatoon to choose from—and I’m not talking about just Warman or Martensville, which we already know and love. I'm talking about the many other amazing ones you may not have already heard of! Here are just a few of the Saskatoon surrounding towns to consider when searching for your next home:

Read the full article

With the average home in Saskatoon being around $350,000, saving for a down payment can seem like quite the mountain to climb! With a minimum of 5% required, that means you’ll need an average of at least $17,500 to get started—you could buy a brand new car for that! So, where do you begin?

If you’re thinking about buying a home, here are some simple strategies to help you save up for your down payment quicker: https://www.kentbraaten.com/blog/5-strategies-to-save-for-a-down-payment-quicker.html

One of the best things about buying a home is no longer waiting on a landlord to fix any issues that may come up in your living space. On the other hand, one of the worst things about owning a home is that any issues that do arise on your property are entirely your responsibility. That’s why, when you become a homeowner, one of the most important things you need to do is familiarize yourself with the most common tasks you may need to complete should an issue ever arise. Here are some of the top contenders:

1) How to Shut Off Your Water

Water damage can be one of the most costly repairs you may encounter as a homeowner. And knowing how to stop it before it gets out of hand may just be the difference between a few minutes with the mop and a

From the day that you move out of your family house, you dream of the day when you finally stop paying rent and buy your first home. But, as you may have discovered, buying a home is not quite as simple as it seems! There is a lot to consider when deciding whether or not to make the move into homeownership.

By buying a house, you’ll be taking on all the pros of being a homeowner versus a renter. But you’ll also be taking on quite a bit of responsibility and giving up on some of the advantages that come with being a tenant. That’s why, before you start your home search, it’s important to weigh the pros and cons of both renting and buying to decide whether or not you’re ready to become a first time homeowner.

Should You Buy or Rent: The Pros &

NEW MORTGAGE RULES JULY 1 2020!

Canada Mortgage & Housing Corporation (C.M.H.C.) announced Thursday that they would be tightening their rules for offering mortgage insurance as of July 1st after forecasting declines of 9% - 18% in home prices over the next 12 months!

What are the new changes?

Keep in mind these changes are for insured mortgages, 39% of mortgages are Conventional Mortgages. So 61% of borrowers will be affected.

The changes are;

1) At least one of the borrowers will need a credit score of 680 or higher, up from 600. Only 5.9% of CMHC insured mortgages had credit scores below 680

2) G.D.S (Gross Debt Service) ratio will go from as high as 39% down to 35%

3) T.D.S. (Total Debt Service) ratio will go from as high as