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Realty Executives
 
 
June, 2022

Hey there,

Some quick thoughts for you today.


Did you know odd-numbered houses in Regina are always on the east side of the street, and even numbers are on the west? It makes a difference because it tells you if your backyard gets sun in the morning or evening.
If you buy a house that has been "flipped" or substantially improved, your city property taxes will be reassessed and go way up. Maybe the city won't notice? Nope, they notice. Permits should have been pulled for the renovations so they know about it. An unsuspecting buyer might budget for $2200 a year in property tax, but before long, it goes up to $3400. An extra $100 a month is a budget buster, isn't it.
Speaking of taxes, did you know you can look up your taxes online? Property taxes are public records. Find them here. As you know, property taxes are high in Regina—we've got lots of rough road to fix every summer. I don't recommend looking at yours unless you're in an unshakeably good mood.
The assessed value the city gives your home is an estimate for tax purposes. This number is not the market value of your house. In most cases, it's 20-30k less than a house would sell for, so don't panic when you look at your assessment. They reassess (update the value of) your home every four years. Here is some info on taxes
Your house is only worth what somebody will pay you for it.
Far and away, the best thing you can do to prepare your home for sale is to clean it. A sparkling home will get a buyer's attention. If it smells like banana peels and turpentine, they'll turn around and walk out.
If you're like most people, you'll have to sell your existing home before the lender gives you money to buy another. That is unless you can carry both mortgages at the same time (your current home and the one you hope to buy). If you can, you're in a favourable position. If you can't, it means some nervous times ahead because you will have sold a home and have 2-3 months to find another. It seems like an impossible task—finding a home you'll love in such a short time. But don't sweat, it can be done!
There are no set commission rates in SK. Realtors are free to charge whatever they like. A Realtor told you he charges 110% of the sale price? Tell him to get off your lawn. Most Realtors (an unscientific observation by me) charge 4% of the final sale price.
Buyers don't pay commission; only sellers do. Remember this when it's time to sell, and it seems like a lot of money. When you were a buyer somebody showed you 50 houses over a 6- month period, and it didn't cost you anything :)


Happy Father's Day to dads young and old. It's a tough job with ups and downs, but remember your kids love you.

Curtis
 

Listing Pic Fail of the Month!
What's happening here? Is the owner of those tiny shoes ok? Who will solve the mystery?

I call this one "Nancy Drew and the Case of the Missing Girl."
Thanks for  reading!


CB
 
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Realty Executives Diversified, 1362 Lorne Street, Regina, SK S4R 2K1, Canada

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