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New property listed in Nutana, Saskatoon
I have listed a new property at 206 521 MAIN ST in Saskatoon.
Welcome to #206 – 521 Main Street. ‘The Madisson’ building, just off Broadway, is within walking distance to downtown, Meewasin Trails, U of S, RUH, and 8th St. This freshly painted, 1033 sq ft, 2 Bedrooms, 2 Bathrooms home is perfect to take advantage of downtown and Broadway living but on a quiet street. There is a generous open concept kitchen, living room, & dining room. The master bedroom has a walk-in closet and three-piece bathroom. Includes one parking stall in the heated underground garage along with an underground storage room. This well maintained building also offers in suite laundry, elevator, security doors, amenities room, & visitor parking. Sorry, no pets allowed.
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New property listed in Rosewood, Saskatoon
I have listed a new property at 311 Stilling MANOR in Saskatoon.
The Emerald model is a 2 storey, 1889 sq. ft. home complete with 3 beds, flex room, bonus room, and 2.5 baths. The beautiful master bedroom is complete with a huge walk in closet and a 5 piece en suite bathroom. The Emerald has two options of transforming the walk-thru pantry to a butler pantry or spice kitchen, quartz countertop in the kitchen and bathroom vanities. Laminate flooring throughout the main floor. this model also has the option of basement development for a total of 820 Sq. Ft with 2 beds, 1 bath and an open concept family room. All North Prairie homes are covered under the Saskatchewan New Home Warranty program. PST & GST included with rebate to builder. Pictures may not be exact representations of the unit, used for reference purposes only. Errors and omissions excluded. Prices, plans, promotions and specifications subject to change without notice.
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New property listed in Rosewood, Saskatoon
I have listed a new property at 2010 Stilling LANE in Saskatoon.
This beautiful 2 storey, 2025 sq. ft. home comes complete with a Smart Home Package. This package includes solar-ready features, Nest Learning Thermostat and the Amazon Echo. On the main floor of this home, you can enjoy friends and family in the open concept living area, which boasts a beautiful chef-style kitchen, complete with a large corner pantry and a half bath. On the second floor this home is complete with a beautiful owner’s suite, with a 5 piece ensuite bathroom, not 1 but 2 walk-in closets! 2 additional spacious bedrooms are located on the second floor, with an additional upper floor bathroom, upper floor laundry and a bonus room which is perfect for movie nights or just relaxing. *Pictures are from the recent show home of this model and do not reflect the same finishes*
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December Market Update - After a roller coaster market in 2020, what can we expect in 2021?


We’ve made it to the last month of 2020, and what a crazy year it has been. Looking back over the last 12 months it feels like we’ve been on a crazy roller coaster ride. This is especially true when you review the past year in the Saskatoon real estate market.


2020 started out pretty strong from January through March and then when COVID-19 hit in April, it felt like the market came to a standstill. At that time, we weren’t sure what the rest of the year in real estate might look like in Saskatoon.


After another slow month in May, I don’t think either of us could have predicted the rocket-like trajectory the market would take for the rest of the year.


The month of June kicked off the strong market in Saskatoon and it continued to get stronger each month after that. Our monthly sales were consistently and significantly higher in comparison to the sales in 2019.


This past month was no exception. There were 358 sales in November 2020 compared to 243 sales in November of 2019. This is 115 more sales which means sales are up +47.3% for the month and +17.1% for the year.


Looking forward, what can we expect in 2021? There is no precise, crystal ball that can predict the future, but we are feeling confident that Saskatoon's strong market will continue into the new year.


Low Inventory


I think one of the main things we are predicting in the first couple of months of 2021 will be a reduced inventory of listings in the market.


There are currently 1123 active listings in Saskatoon. 625 are single family homes, 498 are condos, of which 275 of those are apartment style.


Active Listings in November 2020


Between now and January 2, 347 of those listings are expected to expire. Some of those expired listings may be renewed, but if we base our projections on historical info from 2019, we can likely expect 207 home sales and 330 new listings in December 2020.


When you do the math, this means there could be as few as 899 active listings as of Jan 2. We believe this number is aggressively low, and we expect listings to be higher than this, because of the strong market and low interest rates.


Predicted Listings for January 2021


We believe this means that listings are going to be like GOLD in the first couple of months of 2021. Historically, spring is thought to be the start of the busy season in real estate in Saskatoon. Although, the past year has proven that you shouldn’t expect things to be status quo.


Moving into 2021, If you have a home to sell, we strongly feel that there is no reason to wait until spring to get your home on the market, as listings will be in very high demand, especially for single family homes.


Wanted - Single Family Homes in Saskatoon


If you’re looking to buy a home in early 2021, you will want to rely on your Realtor to guide you through the limited inventory. As Realtors, we receive hourly updates when new listings go on the market, which is considerably faster than commonly used websites and apps that may only update every 24 hours or more. We also have a wide network of contacts in Saskatoon who we rely on to get the most up to date listing information, sometimes even before a home hits the MLS.


So as always, if you have any questions please reach out to either of us, we would be happy to help. From our families to yours, we hope you have a very Merry Christmas and we hope to see you in the New Year.


Merry Christmas


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Should I Refinance My Mortgage? - A note from Deb Murdoch

Should I Refinance My Mortgage?


I think we can safely say that 2020 has been a strange year. A year of lockdowns due to a pandemic, financial support from the government, and the lowest interest rates in recent history. This has led to a rise in the number of homeowners who are considering refinancing their mortgage. According to a recent poll, approximately 20% of Canadian homeowners say they plan to refinance their mortgage in the next 12 months.


Like all financial decisions, it’s important to look at the bigger picture, which includes reviewing your goals.


First Things First -- What’s a refinance?


A refinance alters the terms and conditions of your mortgage – it’s essentially a new mortgage. Specifically, you are increasing the amount of your mortgage, whether to pay off consumer debt, finance a renovation, invest, or to get a lower rate.


Here are a few reasons to opt for a refinance:


  1. Decrease your overall monthly debt payments by using the equity in your home to pay off those high-interest credit cards or unsecured loans.
  2. Lower monthly mortgage payments. A borrower may be able to lower their monthly payments by either securing a lower mortgage rate or by extending their loan term, which would spread their payments out over a longer time period. This can be important for those with a tight monthly budget and who are looking for additional financial breathing room.
  3. You can refinance to purchase another property. Using the existing equity in your home can be a great way to buy a rental property which, if done right, can also make the interest you pay tax deductible.
  4. You could also take out some of the equity for investment purposes -- an option that many homeowners consider this time of year as they look ahead to the new year
  5. And there are more uses for your equity such as helping putting your kids through school.
  6. You can also finance a renovation or home improvements.

Repayment – What You Need To Know


Borrowing against your property is not free money – it’s a mortgage loan -- and like any other loan, it has to be repaid.


Speak to a Professional to Understand Your Options


There are many factors to consider before deciding to refinance. Each individual’s financial situation is different. Let’s talk about your unique situation and the options available to you.


Call Deb Murdoch today!


Deb Murdoch

The Mortgage Group

306.222.7900

debm@mortgagegroup.com


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