Realtors Industry Update by Lori Kluge

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REGINA REALTORS

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Industry Update & Forecast

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S aturday, Feb r uar y 15, 2014

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REGINA REALTORS®

Industry Update & Forecast ARR website shares data with the public The real estate market is driven by information, and savvy real estate observers, buyers and sellers require information and professional guidance in order to make the best decisions. As befits Regina’s trusted REALTOR® community, the website of the Association of Regina REALTORS® Inc. (ARR) at www. ReginaREALTORS.com is an extraordinary source of current housing market data and analysis, keeping the public informed and the market transparent. “It contains quite a bit of market information, membership information, news releases and information about the association,” said Gord Archibald, executive officer of the ARR. “There’s a broad range of different types of information on the website itself, ranging from market statistics derived through the MLS® System through to information about our members, what the association does and our Quality of Life program. It explains the value in using a REALTOR® and the MLS® System, whether selling or looking to purchase a property.” For members of the public with a penetrating interest in the real estate market, the website presents data that has been collected through the Multiple Listing Service® (MLS®) System and reformatted into meaningful reports by industry experts. “There’s quite a bit of market information at the aggregate level that’s available to the

public,” Archibald said. Visitors to the site can now access market analysis reports through a link on the home page. “We have information on what we call TrendLine reports, which are posted on a weekly and a monthly basis to the website,” said Archibald. Tracking key market metrics used in the industry, such as sales-to-listing ratio, months of supply and sale percentage of asking price, the TrendLine reports are an invaluable resource for real estate observers. “They explain high-level trends that are taking place in the marketplace and contain analytical metrics at the aggregate level.” Since the ARR began to participate in the national MLS® Home Price Index in 2012, the website has displayed aggregated market price trends data for Regina. “We have interactive reporting on the website from the MLS® Home Price Index (or HPI), which is a new and much more efficient and accurate way of measuring price trends in the marketplace,” Archibald said. Due to its solid statistical foundation, the HPI data can prove very insightful on a local level. “It’s based on price trends involving four benchmark property types as well as a composite of the four,” said Archibald. “It takes out the biases that are contained in the average price, which we’ve been publishing for decades now. Most consumers are familiar with what that is, as it’s been around for so long, but it can

be misleading and inaccurate indicator at times. “There are months, such as December, where there was proportionately more lower-end properties sold as part of the total number of sales, and that caused the average price to drop significantly on a year-over-year basis, whereas the Home Price Index takes that bias out and showed that prices have been virtually flat.” In order to obtain data at the neighbourhood level, Archibald advises that interested parties consult a REALTOR®, who has access to local neighbourhood data that is not available on the website and the expertise to interpret it. Once prospective buyers are prepared to check out individual properties, they will find the website to be an indispensable source of information regarding MLS® open houses. “These are posted on an ongoing basis through an automated process,” he said. “If our members are holding a public open house — and those typically occur on the weekends — the information is entered into our system, and it automatically flows through to the website. This is a great way for consumers to see current MLS® open house information in once place and for sellers to expand their homes’ exposure to potential buyers.” “So, if anyone is interested in seeing where the open houses are, as well as

getting some additional information on the homes, it’s available on our website. In fact, that is proven to be one of the more popular features or sources of information on the website. I believe it’s because of two reasons: one, you see what’s on the market, and two, you find information about the homes. So, if somebody is thinking about going to an open house, they can actually preview information on the property itself and see if it fits their requirements. “The TrendLine reports, HPI data, market releases and open house listings are merely the highlights of a site that is full of useful and interesting material. “There are other types of information on the website as well,” Archibald said. “Those would include what the public can look for from a REALTOR®, contact information about our members and our member brokerages, and we also put advocacy position papers regarding our lobbying with government up on the website.” Finally, thanks to the site’s RSS feed, visitors can remain apprised of important updates. “It contains information that we’ve put up in the news section,” said Archibald, “so this is all of our local Market Updates, national markets information, the TrendLine reports, as well as any general news the association is issuing. And, although there is a wealth of information on the website, it doesn’t replace the professional guidance and services of a REALTOR®.”

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STEVE BELL (306) 566-9362 REG00187109_1_1

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REGINA REALTORS®

Industry Update & Forecast Get connected! L-P Specialty Products Regina real estate agents have your ticket to travel around the city or across the nation when looking for properties to buy or sell. It’s been called Canada’s Most Powerful Marketing System, and the MLS® System lives up to its name, giving REALTORS® and prospective buyers an almost limitless catalogue of properties to consider. “It’s a crucial component to marketing property,” said Bernie Weinbender, MLS® System Director for the Association of Regina REALTORS® Inc. (ARR). In addition to being a great resource when looking for a property to sell, “It offers buyers more selection,” said Weinbender. By bringing property sellers and buyers together, the MLS® System and REALTOR.ca have created an efficient property exchange system. It has evolved into, and continues to be, Canada’s most powerful property marketing system. Only REALTORS® may list a property with the MLS® System. The MLS® System is a REALTOR®-to-REALTOR® marketing co-operative where REALTORS® co-operate in sharing property information, abide by standard rules and agree to share a portion of the commission when a property sells with an agent representing the buyer. It is not often that you see competitors collaborate in such a fashion to benefit consumers, Weinbender said. “A lot of people wouldn’t expect this (information sharing) to take place in such a competitive market. It allows us to work together, to the benefit of all involved,” he said. Members of ARR can access the MLS® System property database instantaneously, almost anytime, anywhere, via a computer with an Internet connection or through a handheld mobile device such as a Smartphone or tablet. MLS® system sales data is updated continuously, so members can establish listing

prices based on most current market information and trends. For example, the historical sales database goes back more than 20 years to assist in valuing property. The system has been used for more than 50 years in the Regina area, and a majority of properties to be sold in Regina and area are listed and sold through the association’s MLS® System. Approximately 37,000 Regina and area properties have changed hands through the local Regina MLS® System in the past 10-year period. In 2013, for example, 7,700 properties were listed on the System by ARR members, and almost 4,000 Regina and area properties, with a total value of $1.2 billion, were sold. Through REALTOR.ca, consumers have easy access to some of that information that is accessible to REALTORS® through the MLS® System. These days, it’s not just your fingers, but also your mouse or mobile device that can do the walking when you’re looking to buy or sell a property. REALTOR.ca is a great marketing tool, and prospective homebuyers can spend some quality time ‘surfing’ for that perfect property while never leaving the comfort of their kitchen table or armchair. The website contains all the information on the property, including its age, square footage, number of bedrooms and baths and whether there have been upgrades. Listings can even include information on school districts or the types of financing the seller will consider. There are generally several photographs of the home, plus a link to a virtual tour, if one exists. “It’s a powerful tool,” Weinbender said. Back in the old days, information was available in print format. Real estate agents had to tote around the books of listings, which were published monthly, and only updated weekly. Today, all that information, plus more, is available online. While anyone with

the technology can view information on REALTOR.ca, only REALTORS® who are members of the Canadian Real Estate Association may list or access information about properties on the MLS® database which feeds the REALTOR.ca website. Consumer access to online listings information continues to grow. Now Canada’s most popular and most accessed real estate website sees between four and five million unique visitors each month with about five per cent of these being international visits, primarily from the United States and Europe. International exposure is becoming more critical, as the largest source of Regina’s population growth is now through newcomers from other countries, and REALTOR.ca provides this exposure. The site boasts 300,000 to 350,000 Canadian MLS® listings at any one time, including all of Regina and area’s MLS® listings. MLS® listings from across Canada, including Regina’s, are uploaded to the site four times each day, providing immediate exposure for sellers. Aside from a desktop or laptop, the site can also be accessed through an award-winning mobile app available on iTunes that can be used on a variety of different mobile devices. The app is just one way new technologies are harnessed to aid both sides of a property transaction. A number of enhancements were introduced last year to improve user experience, including a recently viewed properties list, improved mapping, driving directions, emailing friends, saved searches, demographic and neighbourhood information and enhanced property displays. Additional improvements, like customer login and customization options for a more personal home-searching experience, are planned for this year. “The Association stays abreast of cutting edge technology for both buyers and sellers,” said Weinbender.

Regina Real Estate Review in more homes and on more monitors L-P Specialty Products Since the 1970s, the Real Estate Review has been a prime source of real estate information for the public. Although its format and distribution have changed over the decades to adapt to the times, the content of the Review is more relevant and popular than ever. “The Review is an advertising publication that contains information on properties that are for sale or on the market in the Regina area,” said Gord Archibald, executive officer of the Association of Regina REALTORS® (ARR). “It’s been around since the 1970s in different forms and shapes, so it’s a wellknown brand.” The ARR ensures that only its REALTOR® members are able to purchase content in the publication. “It’s a member-only advertising paper, so only members may advertise in it,” Archibald said. “If a seller is looking to sell a property and wishes to maximize its exposure in the Review and if it’s listed with a member, then the listing REALTOR® would be able to place an ad for that property.” As of February 2013, the Review has been delivered to a wider readership than ever. “We expanded distribution into more parts of the city — the Review wasn’t delivered to all households in the city,” said Archibald. “It now is, and distribution was expanded to the communities and rural areas outside of the city as well. The hard copy of it is distributed through Leader-Post channels to roughly 86,000 homes in and around the Regina area, with it coming out every second week.” Through its electronic version, the Review can even reach a global audience. “We also have an associated website, ReginaRealEstateReview.com, that’s proving to be very popular, where we post the publication and listings,” Archibald said. “So, if somebody is interested in seeing what properties are listed on the Regina MLS® System, they’re available through that website.” Over the course of the last year, the Review’s online material proved increasingly popular. “Viewership of the website has grown about fivefold in 2013,” said Archibald. “We had almost 58,000 visits on the website in 2013. That’s up from only 12,000, believe it or not, in one year.”

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Industry Update & Forecast REALTORS® active in helping to build better communities By Wendy Livingstone L-P Specialty Products REALTORS® strive to help their clients find a great place to call home — not merely within the wood and concrete structures in which they hang their hats each night, but also within communities where they work, live and play. The Association of Regina REALTORS® Inc. (ARR) has adopted a program called Quality of Life to help to create a community where everyone has the opportunity to thrive. “This program lays out basic principles that guide us in giving back to our community and working with government,” said ARR public relations director Marina Rist. “It provides direction to our members not to just focus on our daily jobs of selling houses but also to focus on community activities — and the association has been involved in many community activities for a number of years.” The ARR and its members support a diverse group of community interests. “Many REALTORS® work within our communities every single day [doing everything] from charitable and fundraising activities, to coaching our children’s sports and school activities, to working with church groups and service groups,” said Rist. “Each brokerage or different company has different organizations that they support as well, so it goes a long way. By building better communities, it creates places where people want to work and live.” Among the groups assisted by the ARR’s Quality of Life program is Regina’s North Central Family Centre (NCFC). Since 2006, the ARR has worked with the family centre

The Association of Regina REALTORS® (ARR) is the primary source of real estate market information in the community and for other industry groups through a monthly market news release and other reports containing current information on sales, prices and listings. The ARR’s statistical information is frequently used by governments and academics for analysis, which helps support knowledge and insight into local and national real estate markets. to sponsor its Youth Empowerment program. “This program is designed to employ North Central youth who otherwise might not be employed,” said Rist. “We provide proceeds from our annual charity golf tournament to the NCFC and top it up with another $5,000 from the association. In 2012, as part of its 100th anniversary activities, the association donated an additional $15,000 to the NCFC to fund improvements to its Fifth Ave. building courtyard.” During the past eight years, the ARR’s contribution to this project has totalled more than $70,000. For more than three decades, Regina’s REALTORS® have demonstrated their altruistic nature at Christmastime and have contributed to the success of the Salvation Army’s Christmas Kettle campaign by staffing the kettles placed throughout the city. The money raised through the program goes to the Salvation Army Christmas hampers, which provide a complete Christmas meal and

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new toys for children in poverty-stricken and low-income families and contribute to other basic needs throughout the year, such as emergency food and clothing, work training programs, camps for underprivileged kids and assistance for the homeless. Supporting sports and education in the community is important to ARR members. The organization has sponsored the Les Ludwig Memorial Award for the University of Regina Rams Most Outstanding Offensive Back since the award’s inception in 1979. Since 1977, the ARR has provided two scholarships valued at $1,000 each today to U of R undergraduate students that attended high school in Regina and have demonstrated a high academic standing and a high ability in other areas, such as leadership, athletics or the fine arts. In 2012, as part of its 100th anniversary celebrations, the association introduced a new, ongoing, legacy award program, whereby a student citizenship award is presented to a Grade 8 student at each public and Catholic school in the city. REALTORS® presented this award

at more than 60 schools in 2013. The actions of individual members in helping to create better communities is recognized by the ARR through its REALTOR® of the Year award, which is presented to those who have contributed to the community and real estate profession over an extended period of time. The most recent recipient of the REALTOR® of the Year award was Glen Hantelman, who has worked as a volunteer for a variety of worthy causes. The ARR and its members have a long history of working as volunteers in their communities. Contributing to the civic and economic development of the community is included in the association’s objectives, thus ensuring that these altruistic actions continue for years to come.

Four years ago, the Association of Regina REALTORS® adopted the Quality of Life program. Its aim is to better serve the community by: ensuring economic vitality; providing housing opportunities; preserving the environment, protecting property owners; and building better communities.

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DEBRA LESLIE 306-537-8585 REG32203517_1_1

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REGINA REALTORS®

Industry Update & Forecast Balance between supply and demand expected to continue in 2014 L-P Specialty Products Last year, Regina’s housing market was solid, but it also featured a balance between supply and demand that had been largely absent since the beginning of Saskatchewan’s economic boom — a situation that is expected to continue well into 2014. As always, the housing market will remain dependent on the overall economy, and the province’s economic forecast remains strong. “In 2014, we’re anticipating more of what we had in the latter stages of 2013,” said Basil Pappas, president of the Association of Regina REALTORS® Inc. “So, we’re looking at a balanced market again this year, provided economic indicators remain similar — as long as the economy continues to produce jobs, and there’s population and household income growth.” Due to the allure of the strong economy, international immigration will continue to bolster demand for housing, with an initial emphasis on rental rather than ownership. Meanwhile, existing renters may look to ownership, as they have in recent years. “With upward pressure on rents, some renters are led to seriously consider ownership,” Pappas said. “Many renters, certainly in the last couple of years, have looked at the rental market and moved into the resale market as a consequence of increasing rents, simply because the rental option has become more expensive. “The average, two-bedroom apartment is around $1,000 per month in terms of rent. If you can find a residential home and pay a mortgage and taxes similar to that, why not look at home ownership? I believe that’s what occurred when upward pressure on

rents was very evident during the period of a 0.6 per cent vacancy rate.” The continuation of this trend is, however, dependent on the supply of rental housing remaining very low — a condition that may already be changing. “According to what CMHC is saying, there’s been a fair amount of new rental-purpose starts in the past two-year period, and vacancy rates are going up a little bit, so that upward pressure may not be as significant as it was in past years,” said Pappas. “The vacancy rate is now a healthier 1.8 per cent, which is up significantly from a year and a half ago.” In the ownership market, the supply of housing is expected to continue to balance with demand, as it did in 2013. “Supply in 2013 was actually very good,” Pappas said. “What happened was that we had a lot of new units coming on the market — I think it was around a 30-year high for new builds.” “The supply situation should be comparable in 2014 as new developments continue to expand, so we’re looking at a good balance between supply and demand,” said Pappas. “Coming into 2014, we had about 400 more active listings on the MLS® system, which provided additional choice to buyers early in the year and should keep price pressures in check until this level of inventory is absorbed.” Meanwhile, mortgage rates are anticipated to remain low, if not entirely static. “There is some speculation that the Bank of Canada may raise its overnight rate for the year,” Pappas said. However, “There’s still going to be a near historically low rate, so, even with an increase, it shouldn’t be much of a detriment to the

market. The market should continue to move along as it has in the past few years.” “Interest rates may affect certain people who may be on the edge of affordability, but, overall, I think the demand won’t be affected significantly by an increase in rates.” The expected outcome is a stable market, much like that seen in 2013. “Prices should remain similar to last year — we don’t anticipate any significant rise in prices,” said Pappas. “So, probably a

marginal, if any, increase in market values in 2014 as long as economic indicators all stay similar to last year. If there are any shocks to the economic system around here, then of course there may be effects within the market.”

ARR calls for registry of former drug houses L-P Specialty Products When homes that have been used for the cultivation or manufacture of illegal substances are put onto the market for sale, they pose a danger to the public. Consequently, the Association of Regina REALTORS® Inc. (ARR) is calling for a system that would inform prospective buyers and ensure that the structure is safe for habitation. Although serious, the dangers posed by former drug houses can be difficult to spot. “As REALTORS®, when we go into a house, we try to look for potential problems, but they’re not always so blatantly in front of you,” said Tim Otitoju, political action representative for the ARR. “Some of these former drug houses tend to have electrical and mould issues that become a health risk and also pose structural issues,” Otitoju said. Houses converted into drug factories often require covert and unsafe electrical modifications in order to accommodate their illegal activities, and the artificially hot and humid atmosphere in a grow-op can weaken a home’s frame. If the mould is within the walls or ceilings, it is as invisible as bad wiring. Less predictable is the reputation that a drug house has among the unwanted visitors who might potentially return after a home has changed hands. “If it’s a grow-up or meth house, it is quite possible that they’ve sold out of the house, and how many people buying drugs know to go to that house?” Otitoju said. There is, however, no system in place to identify such properties to the law-abiding public even after they have been discovered by the authorities and no standards in existence to determine whether they have been inspected and deemed safe for habitation. “We don’t have a registry in place right now, and there are no adopted remediation standards that must be met, so there’s really nothing in place to protect buyers or to inform the buyers that this is the history of this house,” said Otitoju. “As REALTORS®, we try to spot these houses and inform our buyers,

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but some may be undetectable.” Therefore, Saskatchewan REALTORS® have proposed the creation of a registry to address the recognition and remediation of known former drug houses. “We’re lobbying to protect buyers and the public — to have some type of publically-accessible registry in place where you can go to see if the home is a former known grow-op or meth house,” Otitoju said. “Right now, there is really no government standard of remediation in place. So, we would like to see some type of standard put in place so that, once it’s remediated properly, that property can come off the registry.” “It could work with different models,” said Otitoju. “It could be something operated by the government or run by the private sector. How it’s going to work will be something that, as an association, we will be willing to provide input into.” The generalities, however, are straightforward enough. Said Otitoju, “Usually, the police have the first knowledge: they’ve either been called to the house or they’ve found that it’s a grow-op or a meth house. After they’ve done their investigation and determined this, they would be able to either contact the registry personnel or input it into a registry.” Even a private solution would require a minimum of cooperation from government agencies. “At the end of the day, it all comes down to the most effective way of putting this in place, but it will require cooperation from different public officials and authorities. At a minimum, we need the provincial government to develop legislation that would enable the registry, require reporting and set minimum remediation standards in law,” Otitoju said.

If a home has been used for the production of illicit drugs, it could have issues related to mould, improper electrical modifications, structural weakening and the presence of harmful chemicals. These hazards are often difficult to spot, so the ARR is calling for a system that would inform prospective of the home’s previous use.

GREAT VALUE - MLS®483887 BOUGHT A CONDO! MUST SELL!

MCLEAN 206 CARTER ST. - MLS®486298

IN FLOOR HEAT! GRANITE, VAULTED CEILING - 20 min commute! Daycare, great school- Raise your family in small town! 1500 sq. ft. 3 bedroom bungalow, 2 bathrooms, a/c and double attached garage $384,000

INDIAN HEAD - MLS®466098

REDUCED

40 min commute - MOTIVATED! PRICE REDUCED TO $386,000!! BUILT ANOTHER HOUSE! Quick possession available!” 1897 sq. ft., 4 bedroom, hardwood. Huge developed lot. Developed basement. Deck “Former Care Home” $386,000

QU’APPELLE LAND - MLS®479649 $20,000-$49,000 50 ft. to over 2 acres.

CharMaine 306-535-3948

www.charmainerealty.com REG00187100_1_1

5325 MITCHINSON WAY $525,000 532

UCE

1,92 sq. ft 2 1/2 storey home. This ﬁrst of 1,928 its kind design in Harbour Landing, helps provide a large kitchen with ample cabinet space and proper dining area. The three bedroom second ﬂoor layout includes laundry room, bathroom, master suite with ensuite and walk-in closet, and two additional bedrooms. This plan is “topped” addi off with a spacious 434 Sq Ft loft that allows for private and cozy family time or great play area for kids.

RED

4122 GREEN OLIVE WAY E $499,900

RED

Another beautiful Harmony Builders home “The Jude” (see www. harmonybuilders.ca for ﬂoorplan)! This 1,399 sq. ft. bungalow includes all of Harmony’s amazing specs. Double attached garage. Immediate Possession

4126 GREEN OLIVE WAY E $499,900

This beautiful 3 bedroom Harmony Builders Thi home is located on a great lane lot in Greens on Gardiner (“The Isaiah” see harmonybuilders.ca to see ﬂoorplan). End of February possession.

4118 GREEN OLIVE WAY E $529,900 Welcome to 4118 Green Olive Way, another beautiful Harmony Builders home! This 1768 sq. ft. two storey home “The Tenley” (see harmonybuilders.ca) has a fantastic open plan. Immediate possession available.

QUAPPELLE $239,900

This charming home has 3 bedrooms upstairs and 3 bedrooms in the basement with many recent upgrades. In the last 5 years, shingles have been replaced along with siding and new doors and windows. The kitchen was re-done with a moveable island. The upstairs has laminate ﬂooring in the living-room, kitchen and lami bedrooms. The furnace is only 4 yrs old and the bedr water softener is 2 years old. It is across the street from the school in a nice quiet community stre within commuting distance to the city.

HARBOUR LANDING BUNGALOW $390,000

Another Harmony Builders home that is not yet under construction. This 2 bedroom bungalow , 1 bath, 1068 sq.ft bungalow comes with all of Harmony builders standard specs. Build to suit.

UCE

4922 ELLARD WAY $499,900

This wonderful bungalow is situated on a corner lot in a good family neighbourhood. This functional home has an appealing open ﬂoor plan and features a large kitchen with plenty of storage, main ﬂoor laundry, wood trim, base boards and hardwood throughout the main living area. The yard is fully landscaped and fenced

WHITE CITY TWO STOREY $689,900

Welcome to 107 Emerald Ridge East! Huge family home, 4 bedrooms! Main ﬂoor has an ofﬁce. Back yard landscaped, fenced & backs a park!!! Basement fully developed with another bedroom. Immediate possession available!

5109 CAMPLING AVE $365,000 Charming 970 sq.ft bungalow, 2 bedrooms with gas ﬁreplace. Call today for more information

8279 FAIRWAYS WEST DR $580,000

April 15th possession .... wow wow wow Fairways West 2-storey- priced below replacement costs! Fully landscaped huge garage that is heated, basement developed (projector and electronics stay). Backing walking path and green space

2116 DEWDNEY AVENUE E $259,900

Great starter home!!! 814 sq. ft. with 2 bedrooms and 4 piece bathroom on main. Single detached garage with lots of room for parking off lane. Appliances and window treatments all stay! Call today to see this great home!

4976 CORNELL GATE $498,960

Harmony exclusive park backing lots with custom designed homes! “The Glenhaven” is a 1662 sq. ft. home with lifetime shingles, acrylic stucco and stone exterior, central air, ﬁreplace, custom cabinets, 9 ft ceilings on main and the list goes on! Call to see ﬂoor plan today and to see Harmony’s wonderful standards that come with this affordable and amazing home!

167 HASTINGS $355,000

RESULTS THAT MOVE YOU!

1062 sq. ft. bungalow that has been all updated and renovated. Basement is developed and yard is beautifully landscaped with huge deck and room for garage.

Katrina Stettner 306-591-0631 www.harmonyrealty.ca email: katrina@harmonybuilders.ca 2901 Saskatchewan Dr, Regina, SK REG00187095_1_1

S PE C I A L F E AT U R E

S aturday, Feb r uar y 15, 2014

Leader-Post • leaderpost.com

REGINA REALTORS®

Industry Update & Forecast Commercial real estate

— it’s all about the numbers

“The prediction by the Conference Board of Canada that Saskatchewan is entering a prolonged period of economic prosperity solidifies the belief that we are in for growth in all markets within the province and will be among the top growing provinces in Canada,” said Joe Trudelle, Association of Regina REALTORS® (ARR) commercial division council chairperson. “For commercial real estate practitioners, the expected growth sets the stage for another busy year ahead.” The commercial division of the ARR is designed to address the unique needs of the organization’s commercial real estate experts. “It’s an accumulation of the commercial practitioners in the city,” said Trudelle. “We have different concerns. The general real estate [transactions are] more or less the same no matter what it is, but there are a lot of different issues when doing a commercial transaction. It can take a lot longer to do those deals — there’s more details: things like environmental reports, use restrictions, renewal terms, expansion or contraction clauses, and things like parking issues and proximity to public transportation that you may have to factor in, as well as fluctuating operating costs and any special needs.” Trudelle said that the concerns of those looking to buy commercial property are not likely to include issues such as paint colours, the type of flooring or where the sink is — which are issues that may be important for many

home-buyers — but instead tend to be more financial in nature. “Commercial is about the numbers. ‘How much money does this place make — what’s the net income?’ ‘If I buy this, am I going to be able to rent it out to somebody, and what’s the risk?’ ‘Am I going to make enough money to make money and make the payments? If not, I’m not going to do it; it doesn’t make sense.’ The deals themselves are usually a little more intense.” The non-financial requirements of a commercial real estate client also differ from those of a residential client. Trudelle said that a potential buyer or lessee’s concerns likely include issues related to space requirements: “’What do I need? I need 25-foot ceilings because my pallets are eight feet tall and I want to stack them three-high, I better have at least 24 feet then, and some room to move around. If the building is only 18 feet, you can only stack them twotall, and that means I need more square footage to hold them.’ So those are the sort of things that need to be sort of ironed out when you are doing [commercial] deals,” said Trudelle. The national Commercial Information Exchange website at www.icx.ca assists commercial REALTORS® and their clients in locating the ideal property. It includes commercial MLS® listings from across the country, including those from the ARR’s local Commercial Listing Service. “It’s similar to the residential [MLS® System],” said Trudelle. “Members of the association and organized real estate can put their listings on it. The public can access it too, if they are looking for space — if somebody decides that he wants to get more space, move out or open his own business. It’s like buying a house, where you get on the MLS® System and start googling houses and see how much that one is and who’s listing it and what are the features.” Due to the dissimilar concerns and requirements of residential and commercial real estate clients, residential real estate buyers and sellers are much more likely to use a listing service. For commercial practitioners, however, the listing service is just a part of the networking process that takes place. “Commercially, it’s a lot different. It’s one place people can go, but is by no means an indication of everything that’s out there.” This is partially due to the fact that not all parties planning to make commercial real estate transactions want their intentions known publically. “A lot of people who are selling their business want to do it on the hush, because, if somebody finds out that you are selling your business, you could lose your client list or you could lose your employees,” said Trudelle. “Just because you are selling doesn’t mean that [the warranty] is going to disappear, but it makes people think. [Employees might believe], ‘well, if you sell, I might lose my job. I

better look for something else.’ And then the deal could fall through and you lose three employees and you lose your clients. So, for reasons like that, you might not want to use the MLS® System.” As a result, networking is an important aspect of the work of REALTORS® like Trudelle. This involves keeping informed about the plans of national retailers in order to be prepared when they decide to move to or expand within the province. “If you stay in touch with these people ahead of time, you get the up-and-up as to when they are coming. It’s that way with everything,” said Trudelle. If the government is downsizing or upsizing and you know ahead of time, you can position yourself to look after it.” While government requirements have not seen significant change in recent years, Regina and district is now experiencing the effects of a high demand in the commercial real estate market. “It’s not as tight as it used to be,” said Trudelle. “The office side of things is going to open up and soften because there’s new product coming on and vacancy rates are on the rise, but, for the most part, retail is going to stay pretty tight. There’s not that much vacancy on the retail side of things, and, when a development does start up, it usually starts up with a tenant or two in mind or under contract, or construction won’t start.” Trudelle again noted the contrast between residential and commercial real estate practices: with houses, when developers know that demand exists in the local market, they will often build many houses without having committed buyers, but commercial developers often will not begin to build until they have a lease in place. “To build a 5,000-square-foot warehouse, for example, that’s a lot of vacancy and a lot of carrying costs if they don’t have anybody going in there, so they won’t start it until they have a tenant,” said Trudelle. High demand in the local commercial real estate market has caused an increase in prices, which has resulted in even fewer buildings being put on the market. “It’s tough for anyone to sell a building right now because of the way the prices have accelerated over the past few years. Anyone wanting to sell would be looking at capital gains, recovery costs and things like that. So when an owner sells a building, and finds he would have to give half of it back to the government — why would he sell? If it’s full right now, and making lots of money, what the heck — I’ll keep it and make the money from my rents. So, right now, the majority of the transactions going on is leasing. There are some sales, but there’s not a lot of investment-type sales happening.” For the public, there is also an online tool that provides extensive information about working with a commercial REALTOR® and can provide quick access to a list of key services that are typically offered: www. howcommericalrealtorhelp.ca. Whether you are planning to buy, sell or lease commercial property, a commercial real estate expert can help you make sure you’re getting best deal possible.

Housing market healthy in 2013 L-P Specialty Products Regina’s residential real estate market has been very active in recent years and, although 2013 saw When it comes to commercial real estate, use a REALTOR® and get back to business. www.howcommercialrealtorshelp.ca reduced activity compared with 2012, the market demonstrated health and balance over the past year. The REALTOR® trademark is controlled by The Canadian Real Estate Association (CREA) and identifies real estate professionals who are members of CREA. The previous, 30-year tendency of sales to remain within the 2,500 to 3,000 range remains a thing of the past, as sales exceeded that number and remained true to the new norm that has defined the market in recent years. Residential sales surpassed $1 These agents are qualified commercial REALTORS® who have completed the billion for the third consecutive requirements of the Commercial Division of the Association of Regina REALTORS® year, and marginally new Inc. These agents have access to ICX.ca, highs were set for the average Canada’s #1 place to look online for commercial property. residential price both within the Avison z Young city and in the broader regional market: the city average was $321,000 (up three per cent) while the entire area reached an average of $312,000 (up four per cent). Dale Greisser Sherry Comte Donald Reddick Joe Trudelle Art Ingleby Jeff Sackville Karla McConnell The number of sales, although Commercial Sales President & Broker Executive Assistant Commercial Sales Commercial Sales Commercial Sales Sales Assistant & & Leasing 306-359-9799 to Dale Griesser & Leasing & Leasing & Leasing Marketing impressive, reflects a small 306-359-9799 306-359-9799 306-359-9799 306-359-9799 306-359-9799 306-359-9799 pull-back from the previous year. “Sales in the first half of RE/MAX Crown Real Estate RE/MAX Joyce Tourney Realty the year were relatively slow, but they definitely picked up in the second half of the year,” said Basil Pappas, president of the Association of Regina REALTORS® Inc. “However, the Jerome Rink Bill Mueller Phillip Mack Jim Osiowy Basil Pappas Scott Predenchuk Mack MacDonald market overall was slower due to Investment Investment Commercial Commercial Sales/Leasing Commercial Commercial Commercial Multi-family and Multi-family and Sales, Leasing and Development/Business Sales & Leasing Sales & Leasing Sales & Leasing increased supply coming onto the Sales Sales Development Brokerage 306-791-7688 306-791-7688 306-791-7688 306-789-7666 306-789-7666 306-791-7688 306-539-6806 market.” Adam Niesner Janus Harvard Real L.L. Boxall “The added supply on the Harvard Real Estate Inc. Century 21 Dome Realty Inc. Realty (1991) Ltd. Realty Estate Inc. Real Estate market kept things in check in terms of price pressure,” said Pappas. “This resulted in basically a balanced market in 2013, and the association’s MLS® Home Price Index also Linda Boxall Bill Kutsogiannis Cameron Wilkes Adam Niesner Jr. Aaron McDougall Mike Alport Keith Short Commercial Commercial Apartments Commercial Commercial Commercial showed that there was basically Commercial Sales Sales & Leasing Sales & Leasing Commercial Land Leasing & Sales Sales & Leasing Sales & Leasing & Leasing 306-536-1489 306-591-2248 306-533-4321 306-569-1424 306-777-0600 306-777-0600 no change in home prices in 306-789-1222 2013. It was a pretty balanced Sutton Group Realty Executives Galon Realty market overall.” Royal LePage Regina Realty Results Realty White Home prices also remained relatively reasonable compared to Western Canada and national standards. “In terms of the rest of the country, the national average of a home sale is $380,000, so Keith Bartlett Brian Galon John T.C. Bell Patrick Mah Wayne White Commercial Commercial Sales Commercial Sales Agent Sales and Leasing we’re actually looking pretty Sales & Leasing, Consultant 306-529-5645 Sales & Leasing 306-779-3000 Multi-family Sales 306-522-6629 306-529-1929 reasonable at $321,000 in 306-535-5707 REG32203427_1_1

COMMERCIAL DIVISION

REG32203428_1_1

Regina,” said Pappas. “We’re second lowest among the major western Canadian markets, ahead only of Winnipeg. So, Regina housing is comparatively quite affordable, and the reputation we’ve had recently of escalating house prices really didn’t apply in 2013. Regina is still a very affordable place to live and buy a home.” This market behaviour was due to the interaction between historically low mortgage rates, an increase in population and the continuingly strong economy. Even a small expansion of the city’s population can have an exponential effect on the real estate market, both in purchases and in rentals. An increase of 3,000 residents means that approximately 1,000 net new households are requiring shelter. “Initially, international migration tends to look to the rental market, but some also spill into the resale residential market, so it’s definitely had a positive impact on the real estate market in Regina,” Pappas said. Immigrants are attracted by the economy and the opportunity it offers, making it the driving force behind all other factors. “It’s typically economic factors that affect real estate activity and values in the city,” said Pappas. “At the end of the day, demand for housing and real estate values is a reflection of the economy, the wealth it generates, jobs created and household formation. It’s always economy first, and then residential sales activity tends to follow.” “Saskatchewan and Regina have done well, and are predicted to have above-average economic growth in the upcoming year, so the real estate market will reflect that,” Pappas said. “The same level of growth is not being projected as in recent years, but it’s still very solid and the real estate market will follow.” As the economy attracts newcomers to our community and stimulates the housing market, it makes its own contribution to the city’s prosperity. In 2013, housing sales through the association’s MLS® System generated an estimated $153 million in economic activity through related ancillary spending and supported approximately 1,000 jobs locally. The moderation experienced in 2013 allowed the supply of and demand for real estate to reach a comfortable balance. “Buyers had a few more options, so they were able to be a little more selective, whereas, in years past, when the supply was not as good, buyers had less of an opportunity to take their time when coming to a buying decision,” said Pappas. “In 2013, the market favoured neither buyers nor sellers — it was a balanced market overall. It was quite healthy and balanced in every way.”

Leader-Post • leaderpost.com

S PE C I A L F E AT U R E

S a t u r d ay, Fe b r u a r y 1 5 , 2 0 1 4

REGINA REALTORS®

Industry Update & Forecast Creating affordable housing market in Regina L-P Specialty Products Addressing Regina’s need for affordable housing is a difficult and complicated task. There is no single solution, but REALTORS® are invested in finding a multifaceted approach to resolve the issue that involves the participation of both the public and private sectors. Economies are built and maintained by people, so fostering affordable housing in Regina is essential to sustaining the degree of economic growth that the city currently enjoys. “If we have more affordable housing in Regina, that will attract them to Regina,” said Tim Otitoju, political action representative for the Association of Regina REALTORS® (ARR). Such housing, he said, is dependent upon a healthy rental market. As the majority of Regina’s new residents have migrated from other countries, and such immigrants typically begin as renters before ever considering home ownership, a welcoming rental market is key The Association of to attracting and retaining the city’s Regina REALTORS® Inc. workforce. “We’ve seen a lot of is working to increase immigrants from other countries the supply of rental coming to Regina for economic housing, thus creating opportunities, and the problem being a healthy rental market faced by many is finding an affordable that will ensure housing place to live,” Otitoju said. “What rem ains affordable. happens if they can’t find a place to live is they leave and are lost from participating in the local economy. If we have an increased supply of rental housing, the immigrants that we’ve attracted to our beautiful city will be more inclined to stay.” legislated municipal planning standards, which The importance of affordable housing to native Reginans is not lost on Otitoju either. “People that are sometimes slow down the supply of land for rental development coming to market.” just starting out their lives need to be able to get into Those talks did not fall on deaf ears. “In 2011, something affordable so that they don’t have to spend when the provincial government looked at its housing every single paycheck paying rent and have nothing strategy, they announced the start of a new document left to invest or spend on other items,” he said. called the ‘A Strong Foundation — The Housing “If there’s affordable housing available, people will invest more in the local economy, will buy more, there Strategy for Saskatchewan 2011-19’” said Otitoju. With input from REALTORS®, the Housing Strategy will be more money flowing around, and money in an for Saskatchewan 2011-2012 focused on five key economy is always a good thing,” said Otitoju. areas: increasing housing supply, improving housing Building and managing rental properties is not the affordability, supporting individuals and families in the role of government. Rather, the private sector must greatest need of housing, enhancing strategic housing be motivated to invest. For this to occur, government planning, and collaboration, communication, and must create conditions to encourage investment. education.” In 2010, REALTORS® in Saskatchewan released In 2012, the Government of Saskatchewan a paper that proposed reforms at all three levels announced the Corporate Income Tax Rebate of government in order to remove the current Program on New Rental Housing, a development that impediments to increases in the supply of rental housing. “From an economic perspective, supply and significantly reduced provincial corporate income tax for developers who invest in newly contracted demand definitely drives the market,” said Otitoju. affordable housing. “Right now, there’s a shortage of supply, so rental As a result, by the end of 2013, the private sector prices have been increasing. If we are able to increase was inspired to begin to alleviate the dearth of supply, this will not only provide badly needed affordable housing. “There were more rental housing housing, but will also serve to keep upward pressure developments started in 2013 than in the previous on rents in check.” 20 years,” Otitoju said. “It is a critical issue that takes “A big part of our proposal is the removal of tax disincentives to invest in rental housing,” said Otitoju. time to address. We will continue to provide input to the government and assist any way we can.” “We are also hoping for a change in provincially

REALTORS® work with government to effect positive change L-P Specialty Products In order to devise the wisest legislation, government requires input from the public. As both experts and interested parties in the real estate market, REALTORS® have long sought to guide government policies regarding tax policy, property ownership rights and consumer protection. “We communicate with all levels of government,” said Tim Otitoju, political action representative for the Association of Regina REALTORS® Inc. “We lobby the government on behalf of the public to make sure that policies are put in place that benefit property owners and help people get into home ownership.” Legislation regarding real estate has a marked impact on the economy, as the real estate market is a significant economic contributor. “In 2012, statistics show that there was over $20 billion in ancillary economic activity nationally from home purchases through the MLS® System,” Otitoju said. “When a home is purchased, you end up buying furniture, decorating, renovating and using other professional services — all of which stimulates the economy and creates jobs.” In their efforts to reform housing-related borrowing limits, REALTORS® recently scored a major success. “We had been working with the federal government for many years regarding the Home Buyers’ Plan, and finally we had success back in 2009 when RRSP borrowing limit under the plan for a down payment was raised,” said Otitoju. The Home Buyers’ Plan is intended to assist young families in becoming homeowners by reducing their mortgage debt loads. The borrowing limit for a first-time home buyer’s down payment was increased in 2009 by $5,000 to $25,000 and was the first increase since the plan became a permanent program in the early 1990s. “Now, we’re in talks with the federal government again because times have changed,” Otitoju said. “Inflation has an impact and with it the Home Buyers’ Plan loses its buying power over time. We are encouraging the government to adopt policy that would automatically adjust the borrowing in $2,500 increments when needed to adjust for inflation. This is similar to what is in place for adjusting the investment limit for the federal Tax Free Savings Accounts. The government has been very receptive, and we’re hoping for a positive outcome.” “In addition, we are proposing that eligibility under the plan be expanded to Canadians who are undergoing significant life changes such as job relocation, death of a spouse, martial breakdown or taking on elder care, not just first-time buyers.” REALTORS® are also encouraging amendments to the Income Tax Act. “Right now, the way the Income Tax policy works is that, when small investors sell an income property, they pay capital gains tax not only on the increased value of the property, but also on the recaptured capital cost allowance,” Otitoju said. “What we’re proposing is to allow a tax deferral of the recaptured capital cost allowance if reinvested into another income property within one year,” said Otitoju. “That way, investors won’t tend to hold onto a property they don’t want anymore because they don’t want to pay tax on the capital cost allowance already claimed as an expense. It will also give investors an incentive to reinvest in other income property. And it’s a deferral only subject to meeting certain rules – it’s not a tax avoidance altogether. The tax will eventually have to be paid.” Otitoju anticipates that such changes would create a healthier housing situation in Regina: “It will bring more investment properties on to the market and allow investors to buy more income properties. It’s something that is highly needed in our current market with the current rental vacancy rate.” “Once again, our meetings with the government have been going pretty well, we’re hoping for a positive outcome, and we are anticipating that this proposal will take time but are prepared to keep working towards it,” said Otitoju.

Tax system in need of reform reassessed in 2013, a base property value from Jan. L-P Specialty Products Property taxes are the primary source of revenue for 1, 2011 was used,” said Otitoju. “We know values go up and down in cycles depending on the market. municipalities, but Saskatchewan REALTORS® feel Those values may not be representative of assessed that it is time that the aged patchwork of assessment value by the time it is implemented nor until the next regulations in use in the province be reformed. reassessment year.” Saskatchewan’s REALTORS® acknowledge Ultimately, property taxes can exceed the owner’s that revenue from property taxes is essential for means of support and endanger their ability to retain a community to maintain itself. “We understand their real estate. “The assessed value of a property that there’s a significant amount of revenue that’s doesn’t have any necessary relationship to the generated for municipal governments and schools,” said Tim Otitoju, political action representative for the income level of the owner or their ability to pay,” Otitoju said. ARR. Fortunately, Saskatchewan REALTORS® are Currently, those taxes are calculated by employing lobbying for a more reasonable and predictable a system of assessing the value of a property property taxation system. Said Otitoju, “We need and then applying a mill rate against that value to to look for a better way. The system is in need of determine exactly what the owner must pay. a comprehensive review, and perhaps approaches Unfortunately, the property assessment system is that are not based on property value should be fraught with problems. “In Saskatchewan, we have considered.” an archaic system of calculating property taxes that’s over 100 years old,” Otitoju said. “It’s been modified over the years and decades but has largely MAKE YOURSELF AT HOME become a system of patchwork fixes and complexity.” ANOTHER PROJECT BY “We feel that transparency has diminished,” said Otitoju. “It’s a very complex system and, when you have a complex system, it’s difficult for it to be as transparent as it should be.” This systemic opacity results in unpredictable and unfair taxation. “Even the experts have difficulty understanding it well enough, let 1009-1023 SQ. FT. 2 BEDROOM TOWN HOMES alone the taxpayers,” Otitoju said. www.HAWKSTONEVILLAGE.COM “We hope that the government finds a way to simplify it and STARTING AT make it more relevant and $ understandable to those paying the tax. There can be significant (INCLUDING GST) tax shifts for the same property from reassessment year to Karin Wees Jen Welykholowa reassessment year. ” 306.591.5951 306.527.2473 Moreover, taxes are assessed using a base year that may or www.w2realtyteam.com may not be representative of the actual value of the property. “For example, when taxes were

286,900

REG32203511_1_1

www.realtyoneregina.com 300-1118 Broad Street Regina, SK S4R 1X8 Phone: 306.206.0383 Fax: 306.206.0384 email: info@realtyoneregina.com

R E AL P E OP L E . RE A L RE SULT S

R OB PEDERSON 533-3131

22 McKell Bay $349,900

Very well kept spacious, open concept bungalow located on a huge lot in a quiet bay close to schools and parks. MLS®486392 Please call us for more details.

Stacy Dreger 306-535-0005

ROBPEDERSON.COM

stacy@dregerrealty.com

Cindy Dreger 306-535-8488

cindy@dregerrealty.com

Photos at dregerrealty.com

10 McKENZIE POINTE $609,900

2,083 sq. ft. story White City walk-out. 3 bed/3 bath, beautiful ﬁnishing. Gas ﬁreplace & double attached garage. MLS® 486323

5237 Mitchin Mitchinson Wa Way $449,900

1,604 sq. ft. 2 story Harbour Landing show home. 3 bed/3 bath. Hardwood ﬂooring, upgraded Countertops, rear Lane garage pad incl. MLS® 486477

Devin Chanig 306-531-8116 301-1275 BROAD ST. $354,900

Upscale Brownstone Warehouse condo in the historic Warehouse District combines luxury ﬁnishes with use of exposed brick, natural light, metal and contemporary design. Great for those wishing to live, work and play in The District or Downtown Regina. MLS®480330

2719 ROBINSON ST. $339,900

Location. Location. Location. This immaculate home in the beautiful Crescents is in the top 5% of Energy Conservation Homes in Canada as judged by the Federal Energy Guide Program following recent upgrades. MLS®484583

Craik Wotherspoon (306) 531-5966

REG32203512_1_1

Outstanding Agents. Outstanding Results.®

Proudly supporting the Children’s Miracle Network

• 2350 2ND AVENUE 306-791-7666 • 234 UNIVERSITY PARK DRIVE 306-789-7666 www.remax-crown-regina.ca VISIT OUR WEBSITE TO GET MLS® LISTINGS & MORE!! Trademark owned by the Canadian Real Estate Association. Used Under License.

5129 Aerial Crescent

3934 Deutsch Drive E.

4206 Skinner Court

8233 Wascana Gardens Point

50 Simaron Place

Just steps from the park! This Energy Star 3 bedroom, 2 bath raised bungalow boasts an open ﬂoor plan with warm colour palette & 9’ ceilings. Elegant hardwood ﬂooring through main living area. The kitchen comes with loads of maple cabinets, center island & pantry. Master bedroom has walk-in closet & 3-pce ensuite. On demand water heater. Double attached garage.

Fantastic location close to all SE amenities, schools & park. Very well maintained 3+1 bedroom bungalow with open concept ﬂoor plan. Spacious living room. Kitchen features vaulted ceiling, maple cabinets & pantry. Garden door off kitchen to deck & beautiful landscaped yard. Double attached garage. Developed basement.

Executive family home offering hardwood & tile ﬂooring & 9’ ceilings on main. Living room showcases gas ﬁreplace with stone veneer. Sleek kitchen with maple cabinets, granite countertops, island & gasline to stove. 4 bedrooms, 3 baths. Potential basement suite dvlpmt.

Custom built executive 2-storey split home in Wascana View. Living room showcases a dramatic soaring ceiling, hdwd ﬂoors & b/i entertainment centre. Dream kitchen boasts a huge island, granite counter tops & corner pantry. 4 bdrms, 4 baths. Master bdrm with spa-like ensuite. Fully dvlp’d lower level. Triple attached garage.

Situated on 0.8 acres, this 1,758 sq. ft. walk-out bungalow offers breathtaking views of the Qu’Appelle Valley. An elegant tiled foyer leads to the spacious kitchen with custom cabinets, huge island & granite countertops. The living room boasts hdwd floors, vaulted ceiling & gas fireplace. 4 bdrms, 3 baths. Developed ICF bsmt with in-floor heat.

Joyce Tourney

Leanne Tourney

306-789-1700

$399,900

$589,900

$424,900

WINDSOR PARK

$699,900

LAKEVIEW

HARBOUR LANDING

306-789-1700

$729,900

IST

L EW

WINDSOR PARK

NORMANVIEW WEST

ING

RIVER HEIGHTS 2790 Sunninghill Crescent MLS®486907

3220 Albert Street MLS®484280

5150 Aviator Place MLS®483596

Excellent 2042 sqft 4 bedrm on quiet crescent! Updates incl. quartz kitchen countertops, upgraded ﬂooring & light ﬁxtures + more! $594,900

Rare opportunity! 3030 sqft 5 bedrm 5 bath character home with beautiful original features on huge lot! New shingles & dbl det garage. $750,000

Brand new custom built 5 bedroom 3 bath raised bungalow on13,267sqft lot & quiet bay! Professionally ﬁnished basement. $619,900

HARBOUR LANDING

CITYVIEW

PARLIAMENT PLACE

UPLANDS

4702 Hames Crescent MLS®486065

#306-20 Kleisinger Crescent MLS®472503

#314-4045 Rae Street MLS#®484614

#304-31 Rodenbush Drive MLS®482482

Immaculate 2028 sq ft 4 bedroom home, beautifully landscaped front and back! Quartz counters & hardwood ﬂoors. Professionally developed basement. $624,900

Beautifully reno’d 2 bedrm condo in concrete building with elevator. Maple kitchen & updated bathroom. Hardwood & Duraceramic ﬂoors. $219,900

Immaculate, updated 2 bed condo in “The Atrium” building. Newer oak kitchen,A/C unit & newer ﬂooring throughout. Single u/g parking stall. $234,900

D OL

6830 Sherwood Drive MLS®483774

Solid & well maintained 1800 sqft 4 bedrm 4 level split! L-shaped living/ dining room. Nicely landscaped yard & single attached garage. $344,900

FAIRWAYS WEST

Well maintained 2 bedrm top ﬂoor condo with lrg south-facing balcony. In-suite laundry. Outdoor pool in complex. Single electriﬁed pkg. stall. $178,800

jasoncossette.ca

8058 Fairways West Drive MLS#486085

Super spacious 5 bedrm bi-level in beautiful condition with triple car garage! Open plan living space & bsmnt wet bar. Zero maint. yard. $569,900

BARGAIN...CEDAR MEADOW CONDO Upper unit with loft, 2 large bedrooms, fireplace, 2 full baths NOW $229,900 211 MONTREAL ST. N....TRY AN OFFER Investment Good 860 bungalow, 2 baths, garage, large lot. NEW LISTING - REGENT PARK 1040 bungalow with 34x24 garage, large lot... 18 Laird Cres. $299,900 JUST LISTED...$419,900 1672 sq. ft. totally developed bungalow, jet tub, theatre room, gas fireplace and more. 3210 Edinburgh Dr. LARGE LOT... BACKS OPEN Major recent reno’s, 3 bedroom, 3 bath bungalow, developed basement, 2 car garage.... 50 McInnis Cres.

MLS# 481082

MLS® 486801

$184,900

ARNHEIM PLACE - 3 CAR GARAGE Priced at $319,900, great condition raised bungalow, 2 baths, large kitchen, 2 car detached & single attached garage.

MLS# 483675

$589,900

$173,900

ALBERT PARK...$379,900 Move in condition 1757 sq. ft. split level, 3 upgraded baths, jet tub off master, totally developed home, 2 car attached garage & more... GREAT VALUE Newer pilot butte bungalow totally developed, vaulted ceilings, granite countertops, large yard, heated 2 car-age garage... NOW $389,900 PREMIUM SOUTH EAST CONDO SE condo, main floor, mint condition, new laminate floors, End Unit and more LARGE GARAGE - $279,900 Great location, updated 1,500 sq. ft. two storey, 2 baths, semi sized garage. 2301 Osler St.

MLS# 484833

$159,900 THE NAME YOU TRUST

1428 FOLK STREET • HOLDFAST $107,900

$459,900 Jason Cossette

DARRYL SPANIER 306-541-9876

NEW LISTING - SHAW CONDO - Premium 2 bedroom, upgraded kitchen bath flooring & more...$159,900!

Ofﬁce: 306-791-7666 Cell: 306-551-7666

Keith Larson

LOGAN LOGA LO GAN GA N DRYDALE DRYD DR YDAL YD ALE E 306-591-0887 87

CORRINE BOIVIN-ENGLUND

306-537-3231

7218 Wascana Cove Way

Fully developed bilevel in Wascana View. 2 bedrooms up with an additional in basement.. Lots of great features! $499,649

NEW

25 MINS FROM REGINA $749,900

WESTHILL $529,900

Executive home, 3,500 sq ft, open concept, 2 car det’d garage in back & ﬁnished LL!

Attractive 5 bdrms, 3 bath, family home in a cul-de-sac, many upgrades, ﬁnished basement & oversized garage.

Right Team

Right Now. Time to call us today!

WHITE CITY $795,000

MLS® 479324

MLS® 486451

NEW

TIN

LIS

Rhonda Christison

GREAT COMMUTER TOWN $499,900

ISLAND VIEW $399,000

ALBERT PARK $339,900

Custom built completely ﬁnished 4 bdrm home, numerous upgrades & 28’x28’ garage!

Custom built, 1,675 sq. ft., 4 bdrms, oversized att’d garage (44’x29’)

Trendy condo, open design, gas ﬁreplace, 2 large bdrms, swimming pool & single att’d garage

MLS® 470932

Kirk Kozan 306-591-5970 Ramona Miazga 306-537-3132

MLS® 466305

Visit

ReginaHomes4you.com

Qu’Appelle

Bungalow fully ﬁnished. 5 bedrooms, 2 dens. Bright and open. Built in 2009. Huge 100 x 110 lot. $382,649

TIN

LIS

Gorgeous newly built home, 2,220 sq ft + bonus full walk out level, ICF foundation, oversized garage

MLS® 482932

(306) 537-3009

www.KeithLarson.ca

jasoncossette@remax.net

NEW CONDO NDO IN HERITAGE HERITAG HER ITAGE E BUILDING. EXTENSIVE TOTAL GUT RESTORATION WITH KEEPING CHARACTER. TRENDY TRANSITION LOCATION. PARK TO THE SOUTH DOWNTOWN TO NORTH. 1 BDRM WITH DECK & PARKING. MLS® 485916 $223,800.00

Very nicely updated throughout main level, 2 bed, 2 bath home just steps away from K-12 school, Single detached garage, over-sized storage shed with a large lot. MLS®484697

JUST LISTED - LUMSDEN Backs Open, New 1680 sq. ft. custom built bungalow, tons of upgrades, large windows thru out, great open floorplan, triple garage, great location, transferred...$599,900!

MLS# 485817

MLS® 486451

306-791-7691 Client Care Manager

CED

for complete listing details

MOUNT ROYAL $339,900

PENSE $199,900

CITYVIEW $179,900

Meticulously maintained, fully developed 2 bdrm condo, 12’ ceilings, & lg master suite!

Excellent investment property with just minimal ﬁnishing to complete this 2 bdrm home

Renovated 3 bdrm condo, in-suite laundry, all appliances & parking stall!

MLS® 483375

MLS® 481115

MLS® 475292

WALK-OUT LOTS AVAILABLE!

THE

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Fully serviced lots available for immediate building. Choose your own builder. Lots now open to general public. Limited time only.

306-535-9363 NEW DEVELOPMENTS CRAIGADAM.CA REG00187062_1_1