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Unlocking the Potential: Maximizing Every Space in Your Home for a Successful Sale

I prioritize relationships over transactions in my approach to real estate. Commencing my career in 2006 with Remax Crown Real Estate in Regina, I have steadfastly built a Regina real estate business based on this principle. My commitment is centred on delivering personalized one-on-one service, seeking to grasp your unique needs and real estate objectives comprehensively. I am dedicated to being 100% accountable to you throughout the entire process. In my most recent real estate tip, I offer insights on optimizing every space in your home to ensure a successful sale.

Selling your home is an exciting but challenging process. In a competitive real estate market, making your property stand out and appeal to potential buyers is essential. One effective strategy is to unlock the potential of every space in your home, showcasing its versatility and functionality. Follow these home-selling tips to maximize the appeal of every nook and cranny, creating a lasting impression on prospective buyers.

  1. Declutter and Depersonalize:

Before diving into the details of each space, start with a clean slate. Decluttering and depersonalizing your home allow potential buyers to envision themselves in the space. Remove personal items, excessive furniture, and unnecessary decorations. A streamlined and neutral environment makes it easier for buyers to see the potential of each room.

  1. Define Each Room's Purpose:

Clearly define the purpose of each room to highlight its functionality. If you've been using a spare room as a storage space, consider transforming it into a home office, guest room, or workout area. This helps buyers visualize how they can utilize the space, making it more appealing and valuable in their eyes.

  1. Lighting Matters:

Proper lighting can dramatically enhance the perceived size and atmosphere of a room. Ensure that each space is well-lit by combining natural and artificial lighting. Replace outdated fixtures, clean windows, and consider using mirrors strategically to reflect light and create a brighter, more inviting atmosphere.

  1. Neutral Colors and Cohesive Design:

Painting is a cost-effective way to refresh a space and make it more appealing to potential buyers. Stick to neutral colours that create a clean, cohesive look throughout the home. Consistent design elements, such as matching hardware or cohesive decor, can tie different spaces together, providing a harmonious flow.

  1. Furniture Arrangement:

Reevaluate your furniture arrangement to maximize the functionality and flow of each room. Avoid blocking natural pathways and ensure that the furniture complements the room's size. Create conversational groupings in living spaces and arrange bedroom furniture to highlight the room's purpose and size.

  1. Showcase Unique Features:

Every home has unique features that can be accentuated to captivate potential buyers. Whether it's a cozy nook, a built-in shelving unit, or a picturesque window, draw attention to these features. Arrange furniture and decor to emphasize these points of interest, creating memorable focal points that make your home stand out.

  1. Invest in Smart Storage Solutions:

Buyers appreciate ample storage space. Invest in innovative storage solutions to showcase the functionality of closets, cabinets, and other storage areas. Consider installing shelving or organizers to maximize space and create a clutter-free environment.

By unlocking the potential of every space in your home, you increase its overall appeal and help potential buyers envision themselves living there. Taking the time to declutter, define room purposes, enhance lighting, use neutral colours, arrange furniture thoughtfully, highlight unique features, and invest in storage solutions can significantly attract and impress prospective buyers. These home-selling tips will expedite the selling process and increase the perceived value of your property in the eyes of potential buyers.

Partner with me; I'm a top Regina RE/MAX Agent and an experienced &  Trusted Regina REALTOR®. 

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest advice, I will be an expert at your side. 

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James Wruth Shares Insider Real Estate Tips and Opportunities

I believe that relationships are more important than transactions. I started a career in real estate in 2006 with Remax Crown Real Estate In Regina, and since that time, I have built a Regina real estate business around that philosophy. I aim to provide personalized one-on-one service to fully understand you and your real estate goals and be 100% accountable to you. In my latest real estate tip, I share some expert insights and real estate opportunities for both buyers and sellers! 

Navigating the dynamic realm of real estate requires staying abreast of evolving trends, a crucial endeavour for buyers and sellers. This article delves into a wide-ranging array of expert insights designed to address the distinctive challenges and prospects within the real estate industry. These tips can help you better anticipate the trends shaping the 2024 real estate landscape, whether you are a home buyer or seller.

Homebuyer Tips

Embrace Technological Advancements

These days, technology plays an integral role in the home-buying process. Virtual reality tours, augmented reality applications, and online platforms offer immersive experiences, enabling buyers to explore properties from the comfort of their homes. Maintaining a tech-savvy approach streamlines your search and facilitates informed decisions. 

Neighbourhood Trends

Beyond individual properties, understanding trends in specific neighbourhoods is paramount. Accessing information about local schools, amenities, and future development plans significantly influences decision-making. Work with a knowledgeable local agent and engage with community platforms to comprehensively understand the property, neighbourhood, and community dynamics.

Explore Flexible Financing Options

Tailor your research to financing options that align with your needs. Given fluctuating interest rates and evolving mortgage products, collaborating closely with financial advisors is essential for securing the best deal. A solid understanding of the economic landscape ensures a purchase that aligns with your long-term goals. Prioritize communication with mortgage brokers and financial advisors to make informed decisions.

Prioritize Home Inspection

Invest time and resources in a thorough home inspection that goes beyond standard checklists. To avoid post-purchase surprises, focus on potential future issues, such as plumbing and electrical systems. Patience in closing on your dream house, coupled with a meticulous home inspection, can prevent costly repairs in the initial year of homeownership.

Insights for Sellers

Enhance Digital Presence 

Collaborate with a local REALTOR® who crafts an engaging marketing campaign with high-quality photos, engaging descriptions and a marketing plan! A robust online presence attracts potential buyers and sets your property apart, potentially leading to a faster and more competitive sale. Be sure to choose a realtor that is more than just posting- list, list, list, sell, sell, sell ( and most definitely avoid one that does not post online at all!). Choose a local real estate expert who provides tips, insights, information and education - one who builds a following, is friendly and builds a brand people can trust! 

Strategic Pricing

In a dynamic market, pricing becomes pivotal. Leverage data analytics and consult with an experienced real estate professional to determine the optimal pricing strategy for your property. Competitive pricing facilitates quicker sales, while strategic negotiations ensure you receive the best value for your home.

Prioritize Energy Efficiency

Acknowledge the increasing importance of environmental considerations. Make your home more sustainable by incorporating eco-friendly elements like high-efficiency furnaces, energy-efficient windows, appliances, and smart home systems. These features not only add value but also broaden your potential buyer pool. There are government grants available to assist! 

Curb Appeal Matters

First impressions are crucial. Invest in enhancing your property's curb appeal with well-maintained landscaping, fresh paint, and an inviting entrance. A visually appealing exterior significantly influences a buyer's decision.


In the intricate world of real estate, adaptation to the evolving landscape is imperative for both buyers and sellers. The trends in 2024 underscore the importance of embracing technology, staying informed about neighbourhood dynamics, and exploring flexible financing options for buyers. On the other hand, sellers can distinguish their properties by enhancing their digital presence, adopting strategic pricing, incorporating energy-efficient features, and prioritizing curb appeal. Armed with these insider tips, confidently navigate the 2024 real estate landscape.


Partner with me; I'm a top Regina RE/MAX Agent and an experienced &  Trusted Regina REALTOR®. 

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest advice, I will be an expert at your side. 

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Real Estate Tips Focussing On The Festive Season

I believe that relationships are more important than transactions. I started a career in real estate in 2006 with Remax Crown Real Estate In Regina, and since that time, I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you and your real estate goals and be 100% accountable to you. My latest real estate tip is a festive-focused one! 

As the winter season moves in, navigating the real estate market in Saskatchewan can present unique challenges. Here's a valuable tip from your Regina expert Realtor to help you make the most of this season when buying or selling your home:

Embrace Winter Curb Appeal 

While it's true that the vibrant colours of spring and summer might not be as prominent in December, there's a unique charm to a winter landscape that you can use to your advantage. Make your property stand out with these strategies:

Snow Removal: Remove your driveway, walkways, and entrance from snow and ice. Buyers will appreciate easy access to your home, showing you're diligent about maintenance.

Exterior Lighting: With shorter daylight hours, outdoor lighting becomes crucial. Consider adding some well-placed, tasteful lights to create a warm and inviting atmosphere during showings, especially in the evenings.

Winter-Ready Landscaping Highlight the beauty of your yard even in winter. Place potted evergreens, winter-blooming plants, or seasonal decorations near your entrance to create a welcoming first impression.

Comfort and Warmth When showing your home set a cozy and inviting atmosphere indoors. Use throw blankets, warm colours, and even a lit fireplace if available. Make potential buyers feel at home as soon as they step inside.

Clear Gutters and Downspouts Make sure your gutters are free of leaves and debris. This ensures proper drainage and prevents icicles from forming, which could deter potential buyers.

Heating and Insulation Highlight the energy efficiency and effectiveness of your home's heating system. A warm and comfortable home is a major selling point during the chilly Saskatchewan winter.

Staging: Emphasize Space  With holiday decorations, it's easy for homes to feel cluttered. Keep your decorations tasteful and minimal so potential buyers can appreciate the space.

Flexible Showings  Be accommodating with your showing schedule. With the holidays and potential weather disruptions, it might be necessary to be flexible with showing times.


Selling or buying a home in December in Regina, Saskatchewan, can be a unique and rewarding experience. The key is to embrace the season and use it to your advantage. By following these tips, you can make the most of the winter real estate market and find the perfect home or buyer for your property. 

Partner with me; I'm a top Regina RE/MAX Agent and an experienced Trusted Regina REALTOR®. 

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest advice, I will be an expert at your side. 



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Why Choose James Wruth As Your Regina Realtor ?

I believe that relationships are more important than transactions. I started a career in real estate in 2006 with Remax Crown Real Estate In Regina, and since that time, I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you and your real estate goals and be 100% accountable to you. In my latest real estate tip, I share the top 6 reasons to choose me as your Regina realtor

Top Reasons to Choose James Wruth - Your Remax Crown Real Estate Agent in Regina


When it comes to buying or selling real estate in Saskatchewan, having the right agent by your side can make all the difference. James Wruth, a Trusted Regina Remax Crown real estate agent, brings a wealth of experience and a proven track record to the table. In this blog post, we'll explore the compelling reasons why choosing James Wruth as your Remax agent in Regina is a smart decision for your real estate needs.

1. Local Expertise:
Navigating the real estate market in Regina,Saskatchewan requires an in-depth understanding of the local neighborhoods, property values, and market trends. James Wruth's extensive knowledge of the area gives him a competitive edge when helping clients buy or sell properties. His insights can help you make informed decisions, whether you're looking for your dream home or aiming to sell at the best price.

2. Proven Track Record:
With a history of successful real estate transactions, James has built a reputation for delivering results. His dedication to achieving the best outcomes for his clients is evident in the numerous satisfied testimonials and repeat business he receives. When you choose James, you're enlisting the services of a professional who is committed to your real estate success.

3. Personalized Approach:
Every client's real estate journey is unique, and James understands this well. He takes the time to listen to your goals, preferences, and concerns, tailoring his services to meet your specific needs. This personalized approach ensures that you receive the attention and guidance necessary to achieve your real estate objectives.

4. Effective Negotiation Skills:
Negotiation is a critical aspect of real estate transactions, and having a skilled negotiator on your side can save you time and money. James Wruth's proven negotiation skills help you secure the best deal, whether you're buying your dream home or selling your property. His strategic approach maximizes your advantage in negotiations.

5. Comprehensive Marketing:
Selling a property involves more than just listing it on a website. James Wruth employs a comprehensive marketing strategy to showcase your property's best features and attract potential buyers. From professional photography to engaging property descriptions, to being a Trusted Regina Realtor. This means his online and social media marketing efforts are ampilfied tremendously, reaching 10,000's more local prospects via the Trusted Regina platforms.His marketing efforts ensure that your property receives the attention it deserves in the highly competitive Regina real estate market.

6. Trusted Network:
Over the years, James Wruth has built strong relationships within the real estate industry and the Saskatchewan community. These connections can be invaluable when it comes to accessing off-market listings, local service providers, and other resources that contribute to a smooth real estate experience.


Choosing James Wruth as your Remax Canada agent in Regina, Saskatchewan is a decision that brings expertise, dedication, and a personalized touch to your real estate journey. With his local insights, proven track record, negotiation skills, and comprehensive marketing approach, James is well-equipped to guide you through the complexities of buying or selling property in Saskatchewan. When you work with James Wruth, you're not just getting a real estate agent – you're gaining a Trusted partner who is committed to your success.

Partner with me; I'm a top Regina RE/MAX Agent and an experienced Trusted Regina REALTOR®. 

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest advice, I will be an expert at your side. 



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New to Canada and wondering if you’re eligible to buy a house in Regina Saskatchewan?

I believe that relationships are more important than transactions. I started a career in real estate in 2006 with REMAX Crown Real Estate In Regina, and since that time, I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you and your real estate goals and to be 100% accountable to you. In my latest blog post, I share information for new immigrants to Regina who may be seeking information about what is required to purchase a property in the Queen City! 


Are you new to Canada and wondering if you’re eligible to buy a house in Saskatchewan?

 


First and foremost—congrats! Let me be the first to welcome you to this great province of ours! 

Question: Can you purchase a home as a new immigrant? 

The answer? YES!  As a newcomer to Canada, you can buy a home, even if you have immigrated here very recently. Plus, new immigrants to Canada can often qualify for a mortgage, so long as all standard financial requirements are met.

  1. Anyone in Canada who can afford the costs of homeownership is eligible to own a home. In fact, you do not have to be a resident or citizen to own a home. 

  2. You must abide by Canadian taxation and real estate laws. 

Most Canadian banks and lenders are more than happy to work with newcomers, even if they don’t have an established Canadian credit history. Canada is actually one of a handful of countries in the world where non-residents can qualify for a mortgage—they can even be at the same interest rates as citizens. Some of the larger lenders and banks have dedicated newcomer mortgage programs to help you finance your first home, as they understand the challenges that you might face. 

PRE-APPROVAL - THE FIRST STEP. 

In Canada, most banks and mortgage lenders offer pre-approval, which is a process where you learn the maximum loan amount for which you can qualify. This process also helps you estimate your potential mortgage payments. Sometimes, lenders will even let you lock in a current interest rate for up to 4 months!

To get pre-approved for a mortgage, you normally have to provide information about your income, assets, debts, and current employment information.

After you submit this information, a lender will assess your application and either approve or refuse your request within about 5 business days. If approved, you can start shopping for a home in Saskatchewan that falls within your pre-approval value limits. 

Time to start looking for your new home in Regina and area?  

During this stage, you’ll likely want to enlist the help of an experienced Regina real estate agent. When you are ready to make an offer on your desired property they will help you navigate all of the paperwork and processes involved. Making an offer on a house in Saskatchewan generally involves a deposit. The deposit and the down payment are different. Homebuyers provide a deposit at the time of making an offer to demonstrate to the sellers that they’re serious buyers but be warned, you would generally lose your deposit if you walk away from the agreement before the sale is finalized. 

The deposit amount is rolled into your down payment when you close on the house. The down payment is the total amount that you put down on your home in cash as part of the mortgage lending process-  In Canada, the minimum down payment is 5% for properties up to $500,000, but some lenders may require more. When the purchase price is above $500,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion.

If you were pre-approved for a loan, you’ll continue working with your lender to get your mortgage formally approved. This normally happens within a few weeks. Your realtor will assist you with organizing your home inspection, signing any necessary paperwork, and finalizing your home purchase.

LAST STEP Enjoy your new home and I hope you enjoy living the Canadian dream in your new home


Partner up with me, I’m a top Regina RE/MAX Agent, and an experienced Regina REALTOR® 

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest and candid advice, I will be an expert at your side. I am a Trusted Regina Realtor and a top REMAX Crown Real Estate Agent



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December 2022 Regina Real Estate Market Stats From James Wruth

Greetings Friends,

I am pleased to be able to share my 2022 December Regina Real Estate Market Report! 


DECEMBER 2022 Monthly Housing Market Trends Report



How Does This Compare to National Data? 

 


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James Wruth Real Estate Advice About Selling Your Property in The New Year

I believe that relationships are more important than transactions. I started a career in real estate in 2006 with REMAX Crown Real Estate In Regina, and since that time, I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you and your real estate goals and to be 100% accountable to you. In my latest blog post, I share five New Year’s Real Estate resolutions! 


Are you planning to sell your home in the new year?

Regardless of season or market conditions, remember that you only have one chance to make a good first impression. Make it memorable for all the right reasons. Before listing your home, commit to these five New Year’s Resolutions to help ensure the quickest sale for the highest price.

Mark Your Calendar

Set your listing date well in advance to help you anticipate, plan and prepare to sell your home. The process of changing homes has a lot of moving parts and is a coordinated effort between you and your team of experts. Think real estate agent, lender, lawyer, home inspector, trades, movers… the list continues. This is especially the case if you’ll also be buying a new home at the same time, as many people do. Reach out to a selling agent early on in the process to discuss your options, get important advice and get the ball rolling.

Repair and Replace

When planning to sell your home, assess its condition and make repairs before listing. Cracked drywall, stained carpets, burned-out light bulbs and other minor damage is easy to fix and won’t break the bank, but left un-repaired, could impact offers. TIP: It can be tough to evaluate your own home. Have your agent or a friend tour your home and offer constructive criticism. Find out which renovations offer the best return on investment here.

Get Comparables

Three to six months before your home hits the market, wave your agent start scanning comparable listings to get a ballpark price estimate. Keep in mind that a variety of factors may affect your home’s selling price, like lot size; landscaping and interior finishes; proximity to busy streets, public transit, schools and parks; or supply and demand in the marketplace. Your agent will assess your home just prior to listing, to ensure you set the right price to attract serious buyers.

Cut the Clutter

A cluttered home can suggest lack of space, which can impact offers. Depending on lifestyle and length of time spent in the home, this can be a big undertaking. Take it step by step, room by room, and you’ll get through it. Be honest about what you want, need and love, and what you can do without. The bonus? You won’t have to pack, move and clutter your new home with stuff you don’t want.

Stage to Sell

When it’s time to sell your home, stage it to show it in the best possible light. This includes packing up family photos and personal m (prospective buyers want to picture themselves in the home, not you!), putting the non-essential items into storage (or the donation bin!) and perhaps renting some furnishings that take your home to the next level. Your agent may offer staging as part of their suite of services, or will be able to put you in touch with a professional stager to help get the job done.

Hiring the right real estate agent is key to a successful sale, and it’s important to know that many agents specialize in listing homes versus helping you buy a home



Ready to sell the house you love? Partner up with me, I’m a top Regina RE/MAX Agent, and as an experienced Regina REALTOR® I can support you by inserting a degree of professional separation.

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest and candid advice, I will be an expert at your side. I am a Trusted Regina Realtor and a top REMAX Crown Real Estate Agent



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Regina November 2022 Market Trends From James Wruth

Greetings Friends,

I am pleased to be able to share my 2022 November Regina Real Estate Market Report! 


NOVEMBER 2022 Monthly Housing Market Trends Report



How Does This Compare to National Data? 

 


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Considering Breaking Up With Your Favourite Home? 5 Helpful Tips from James Wruth

Owning a house is like ‘being in a long-term relationship’, so it can be hard to break up! 

I believe that relationships are more important than transactions. I started a career in real estate in 2006 with REMAX Crown Real Estate In Regina, and since that time, I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you and your real estate goals and to be 100% accountable to you. In my latest blog post, I acknowledge that selling a home you love is NOT easy. 



Breakin' Up Is Hard To Do! 

So goes the famous Neil Sedaka song... and sometimes that is the truth!  

You grew up in that home, or you raised your own family inside those four walls, so when it’s time to move on, downsize or sell for a multitude of reasons, it can very hard emotionally to let go! 

Another reason why a breakup with your home is hard to go through can be explained by the Endowment Effect. This economic theory finds that people overvalue what they already own. They are comfortable with the status quo and feel threatened by change and the unfamiliar, which makes losing or parting from what they have particularly difficult. Now, they believe that their loss is more than it actually is.


Sure, this house was perfect, but the home selling and buying process isn’t finding “the one” that sticks around forever. It’s more about finding the home that fits your needs best based on your current situation. That gets easier if you can feel good about your next decision and give yourself closure over the past—so let’s dive into 5 tips to help you work through it.


Tip #1: Make sure you’re ready to ' FOLD It' from a financial perspective

When you mix money and love, things get complicated. Just ask the 1 in 5 partners who choose to keep their finances separate. Applying this division of church and state to selling the house can suck some of the emotion out of the process.

Above how you feel about the selling situation, you need to figure out the hard financials and timing of this sale. Can you afford to sell this home and buy another, and is now the time to do it?

You can start by getting a ballpark figure for what your home would go for in the current market. Then, factor in your expenses like home prep, repairs, and agent commissions. Make sure that after you sell the house, you’ll have enough money to pay off the mortgage and then some, ideally enough for a sizable down payment on the next house.

Then, find out if it’s the best time to sell your home in your market. Depending on where you live, seasonality makes a big impact—in fact, data shows that selling at an opportune moment can help you increase your profits significantly.

Take away?
 
Similar to a relationship break-up, selling a home shouldn’t be a rash, spur of the moment decision. 

Tip#2: Reframe your mindset to focus on your ‘Why’

The first question I ask my seller clients is, “Why Are you Selling?”

Maybe you crave the carefree lifestyle that apartment/ condo living can provide, perhaps you want to move to be closer to the grandkids, or maybe you have to buy somewhere bigger to give your family more breathing room.

Take Away?

Focusing on the logic of your reason and your why, makes it easier to harness your attention to the future. Reframe your home sale as change (good change!) rather than loss. Then, selling your house becomes an opportunity for you to move on to a different chapter of your life.


Tip #3: Keep living your best life BUT keep on keeping up with the Jones's 

The last thing you want to do after you decide to sell your house is to wallow in regrets and neglect home selling responsibilities.

Oftentimes, home sellers are also buyers, so their home purchase is contingent on their home sale. You must make sure that your home looks it's best. Then, take steps to detach from what you used to call your home. Trust your real estate agent and start the staging process. See how furniture works in different arrangements, change up the decor, and paint the walls neutral colors to begin depersonalizing the house without giving yourself whiplash. - you can find some helpful tips on curating curb appeal in the Regina real estate article I wrote about Selling A Home in A Slow Market 

Once you have put effort into making the property look it's very best,  you can channel your emotions and efforts toward figuring out what your future will look like, in terms of the house and your new neighborhood. That way, your next home becomes a productive distraction that will help you get over the initial home sale.

Take Away?
 
Be sure to keep up with maintenance and to work with your realtor to get the best price for both your existing property AND the new one!  


 

Tip #4: Do the Emotional work

So, when you sell your house, don’t be afraid to:

  • Walk-through your home and revisit old memories.

  • Reflect on how the house has served its purpose for however long you lived there.

  • Talk about how you loved living here with your spouse, children, and family members.

This type of processing helps you to accept your emotions throughout the home sale. If you want to keep a snapshot of the home, take photos and use those as emotional anchors for you to look back on in the future.
 

Take Away?

It is healthy to mourn a loss!   

Tip #5: Get proper closure

When selling a house, you don’t want to walk away with unfinished business or bitterness. You might not be emotionally prepared for the change, but don’t demand buyers to overpay for your home or leave the home in a sloppy state. Be respectful to the next set of homeowners, and take the time to get everything in shipshape for the final walkthrough.

A proper goodbye can also include a “house-cooling party” that lets you invite friends and family to your home for one last time before handing over the keys. Those who are important to you also have a chance to say goodbye to you and the home. Just don't go crazy, as the last thing you want is wine stains on those newly cleaned carpets! 

Take Away?


Ready to sell the house you love? Partner up with me, I’m a top Regina RE/MAX Agent, and as an experienced Regina REALTOR® I can support you by inserting a degree of professional separation.

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest and candid advice, I will be an expert at your side. I am a Trusted Regina Realtor and a REMAX Crown Real Estate Agent



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James Wruth Regina Real Estate Trends October 2022

Greetings Friends,

I am pleased to be able to share my 2022 October Regina Real Estate Market Report! 


OCTOBER 2022 Monthly Housing Market Trends Report



How Does This Compare to National Data? 

 


Read

September 2022 Regina Real Estate Market Trends Report

Greetings Friends,

I am pleased to be able to share my 2022 September Regina Real Estate Market Report! 


SEPTEMBER 2022 Monthly Housing Market Trends Report



How Does This Compare to National Data? 

Canada's housing market experienced a minor bump in prices for August 2022, the first monthly increase in Canada’s average home price since February. For August 2022, the average home price in Canada was $637,673, up 1% from last month after decreasing on a monthly basis for five months in a row. Nationally, sales during the month of August 2022 are down 24.7% year-over-year to roughly 38,310 transactions.

Whether Canada’s housing market is seeing prices stabilize after hitting an all-time price record in February 2022 remains to be seen, as Canada’s average home price remains 4% lower year-over-year. Among factors that have spooked Canadian home buyers have been rapidly rising Canadian mortgage rates, brought about by Bank of Canada rate hikes. While Canada’s inflation rate has cooled off in recent months, current elevated levels of inflation in Canada continue to put pressure on policymakers to increase interest rates.

Compared to February 2022's peak of $816,720, the average sold price in Canada is now 22% off from that record-breaking month. This means that the average home price in Canada has now fallen by 22%, or close to $179,000, in the span of six months. Meanwhile, the MLS Benchmark Price continued to see positive annual price growth. Canada’s benchmark home price increased 7% year-over-year to $760,400 for August 2022, yet is down by 3% month-over-month. If the benchmark home price continues this trend, it will dip into negative annual change territory in the coming months.

While the average Canadian home price is down 4% year-over-year, the performance of housing markets across the country has been mixed. Some areas continued to see declines in home prices and sales, while others experienced increases on a monthly basis.



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August 2022 Regina Monthly Housing Market Trends Report

Greetings Friends,

I am pleased to be able to share my 2022 August Regina Real Estate Market Report! 


August 2022 Monthly Housing Market Trends Report




How Does This Compare to National Data? 

As a consequence of the Bank of Canada’s rate hikes, the Canadian housing market is on the verge of a cliff, as rapidly rising mortgage rates threaten the stability of Canadian home values. The average home price in Canada was $629,971 in July 2022, a decrease of 5% from the previous year and 5% from the previous month. This is a stunning turnaround from the extraordinary price rises seen earlier in the year when a new record was reached in February of 2022. Canada’s average home price has decreased for the sixth consecutive month. Compared to the peak of $816,720 in February 2022, the average sales price in Canada has decreased by 23%. In the previous five months, the average Canadian home price has plummeted by 23%, or around $190,000. However, the MLS Benchmark Price continues to increase annually. In July 2022, the national average home price in Canada increased by 7% year-over-year to $782,300 but fell by 3% month-over-month.


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