Saskatchewan

Today, there is more and more talk about how we can be more eco-friendly - from recycling our plastic and glass bottles and newspapers, to reducing our carbon footprint with hybrid vehicles. It’s no wonder that the housing market across Canada and in Regina is also being impacted by the emerging importance of being kind to our planet. Increasingly, buyers are seeing solar panels, blown-in insulation (made from recycled materials), and tankless water heaters. While these features do cost more in the short term, many buyers are realizing that the long term savings are considerable.

For instance, in the US, home owners with energy efficient homes not only qualify for government rebates (there are some available in Saskatchewan, as well), but homes built with the ability to generate their own electricity (through solar panels and geothermal heat) might even make money when excess energy is sold back to the power grid. This concept is slowly catching on in Canada, where Ontario and British Columbia have similar programs.

With energy costs rising, many homebuyers are looking into energy efficient options, and are willing to pay more for them. The appeal of saving money on utilities is enticing, and many people are smart to offset the extra expense of eco-friendly homes by putting the money they save right back into their mortgage payment.

What we’re finding is that more people are willing to pay for eco-friendly features in a home, as they do with granite countertops and stainless steel appliances. As this approach becomes more and more popular and in demand, builders are taking notice and beginning to developing homes that meet consumers’ expectations.

While it is still very early in this green movement, signs are that as resources and support grow for eco-friendly building, there will be great opportunity in the housing market to meet the increasing demand. Eventually, when the supply of green homes is there, pricing will come down and more people will find them affordable into the future.

Whether you’re looking for a newly built energy efficient Regina house, or one that has some updated green features, Clair Whittington can help you find your dream home. Backed by Exit Realty Fusion, designated as Saskatchewan’s only Ecobroker, Clair has the expertise to help you choose a home that is also earth friendly. Go green and call Clair today!

As we see the economic signs showing that we’re headed out of the depressed home building market, another trend is demanding our attention in real estate - immigration. While housing starts are still lower than they were this time last year, TD Economics recently reported an increase in May of 10.8% and another 8% in June of this year. Scotia Economics reported that recent immigrants to Canada have been driving property demand, which they say might be the reason behind the upswing. Local housing in Regina is a major beneficiary in this trend.

There is no question that better affordability along with low lending rates are contributing to increased sales activity, but the long term role of immigration appears to be a major factor in the future. According to a senior economist, Adrienne Warren, immigration could account for 75% of the growth in Canada’s population a decade from now - today it is around 60-65%.

Also, today’s immigrants are purchasing homes here faster than they have in the past, with around 72% reporting that they are living in a home owned by a member of their household. A study by Canada Mortgage and Housing Corporation in 2007 found impressive degrees of homeownership achieved by immigrants only six months after arriving in Canada, and this trend appears to be continuing.

Typically, the longer one is in Canada, the more likely they are to become a homeowner. However, between 2001 and 2006 rates of owning a home grew among all immigrant groups, regardless of the amount of time they’d been living in the country. These rates continue to be a focus of study, but findings are suggesting that as immigrants make the move from renting to owning they will increasingly be driving the demand for housing.

That is good news for residents of Regina, where the government is spending money and resources on a campaign to bring more immigrants into our city and Saskatchewan due to a need for skilled workers. And this particular group of immigrants also happens to be the most likely to purchase homes, with the lowest rate of homeownership loss of all other immigrant groups. All of which will likely drive growth and increased demand in our city, stabilizing the market further.

If you’re ready to look for a home in Regina, give Clair Whittington a call! Whether you want to focus your search in her areas of specialty in Albert Park or Grand Coulee, or anywhere else in our city, she is ready to lead you through the process and give you expert advice.

There has always been a lot of talk about housing values in real estate - understandably so. Today, after a slow winter, the surprisingly quick turnaround in the Canadian real estate market in the second quarter has consumer confidence rising, and the market stabilizing. This is paving the way for a healthy level of activity for the second half of this year. With that in mind, you might be asking, "What is the best way to determine the value of my home?"

This is a tough question to answer with all the variables to consider. What most people look to are average prices for homes that have sold. Unfortunately, this only tells a small part of the story. While country-wide and city average housing price indexes can be useful, they are definitely not the last word on what your house might be worth - and they are only indicative of what's sold, not what any specific property is worth. Coming up with a dollar figure has more to do with the house, its location, and home values in your particular neighborhood. Relying too heavily on averages may be limiting.

Experts say to avoid assumptions that your city's market is the biggest indicator of your home's worth. Instead, to find the right value for your home, you need to focus on the specific property and its location. There is nothing wrong with using a typical home that reflects the style of the community as a comparable for a general guide. Just be sure to realize that there is no such thing as an average market within a certain city - there are sub-markets within subdivisions, all based on local factors and details that cannot possibly be reflected in average reports. Some areas are higher in demand than others, and while prices are rising on one section, they might be dropping in another. It is also critical to know about future plans for any particular area that may affect home prices.

You already knew that your home is unique, you need to find someone who treats it as such. Choose a real estate professional who understands your neighborhood, and takes the time to consider the specific amenities of your house and how it might be unlike all of the other houses in your area. If it is true that your home is your single, largest investment, it seems only fitting to choose your real estate agent with that in mind.

If you are looking to see the "unique value" of your Regina, Saskatchewan home, Clair Whittington is ready to help you correctly price your home. Homes set at the right price when they first hit the market will give you a completive edge over other similar properties. If you are want to buy in Albert Park, Grand Coulee, or other fine areas in Regina, check out Clair's featured listings.

So, you're thinking of buying your Regina first home and are bravely venturing out into today's buyer's market to find the right place for you. What about the mortgage? How do you avoid the mistakes that have left many current homeowners in the U.S. underwater, or worse, without a home? Get educated - with home buying and in choosing the right mortgage for you, knowledge is indeed power!

First off, you'll need to have an understanding of basic mortgage terminology, and you don't have to be a banking professional to learn about them. References to variable vs fixed interest rates, credit ratings, amortization schedules, and mortgage insurance may leave your head spinning right now, but after a little research, you'll be ready to negotiate with any lender.

As a first time buyer, for example, you may have heard about several different loan products available today, but we recommend sticking to a good, old fashioned, fixed-rate loan. That way, you will have the peace of mind that comes from knowing what your payment will be every month into the future - and that you are paying down the principal of the loan each month, instead of just paying interest.

Also, before you start looking for your perfect first home, it is important to first get pre-qualified (not just pre-approved) for the amount of loan that you can afford. Too many people make the mistake of leaving the mortgage negotiation until the last step, after they've already found their dream home and fallen in love. It can be devastating (both emotionally and financially) to discover that the home you want to buy is outside your price range, or your lender isn't willing to lend to you because of your credit rating. Also, if this leads the buyer to feeling desperate to buy the home they found and more likely to make foolish mortgage decisions than if they go into the process knowledgeable about their limits.

Today's mortgage rates are lower than they have been in a few years. It is critical for first time buyers in today's market to educate themselves on the different mortgage options available, find an experienced mortgage expert to walk them through the entire lending process, and be sure to choose the best product available - based on the buyer's specific needs.

Finally, hiring a real estate professional with expertise and knowledge about the type of home you are looking for, and who is a skilled negotiator on your behalf, is one of the most important steps first time buyers can take. Once you have all of this knowledge backing you, your adventure of finding your ideal first home will be dramatically smoother and successful. Happy hunting!

Clair Whittington can make your first time buyer's adventure a breeze. Check out her website for helpful buyer reports.

In 2007, I did an introductory blog on Active Rain but never came back. Two years later, I am back as I am convinced that this is best place to sing the praises of one of my favorite places on earth - Regina, Saskatchewan. This city is the capital of the province and the center of culture and economic activity in the region. Originally a treeless, flat plain, the city features a beautiful man-made lake created when the a runoff from the Wascan Creek was dammed in 1905. Wascana Lake remains the focal point of the city. Wascana Center, which houses and Legislature, both campuses of the University of Regina, and several museums and cultural attractions were built on the lake.

The beauty of Regina extends far beyond the central city as parks and greenspaces dot the landscape of the area. Over 300,000 trees and plants were added to the landscape. It is not uncommon for vacant land to be converted to a landscaped park. Residents are encouraged to enjoy the park-like atmosphere, so bike paths and cross-country ski trails are easily accessible. Beautiful Lake Wascana is open to boaters in the summer and cleared of snow in the winter to encourage skating.

Housing prices in Regina are among the most affordable in the country. A demand for housing under $250,000 is promoting building in new subdivisions and more established ones. Two areas where I specialize Albert Park and Grand Coulee - are seeing a surge of new building.

Albert Park, located in the Southwest quadrant of Regina, was developed after World War II. The community is noted for its large homes, often built on a cul de sac. Bounded by the Trans-Canada Highway on the south and Lewvan Expressway on the west, the subdivision was expanded in 1992 and New Albert Park was developed with new housing. Once again, there is new construction available in the area. The neighbor has balanced mix of single family homes, apartments, condos, and row houses. The average housing price there is about $210,500 for detached single family homes, with condo prices starting at $82,000.

Grand Coulee, a small village west of Regina, currently has only 500 residents and 100 homes. Only 2 1/2 miles north of the Trans Canada Highway, it is situated on the Regina Moose Jaw Corridor and is ripe for development. The area has a safe, plentiful water supply, a prerequisite for residential development.

Interested in exploring what Alpert Park, Grand Coulee, and other Regina communities have to offer? Check out my new website for best the home values west of Regina! I am backed with the full weight of Exit Realty Fusion, part of the fastest growing real estate franchise in Canada.