Morrison Morrison Realty

Make your buying and/or selling real estate experience hassle-free

Leo & Taylor Morrison

OCTOBER | Industry Overview

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“The Saskatchewan real estate market continues to outshine last year. In October 2020, sales were up 38.4%, new listings up 1%, and median sale price up 7.8%. It is important to highlight that inventories are either becoming stagnant or decreasing however the number of active buyers is still high. The numbers prove it… Now is the perfect time to list a property! Across the board, Saskatoon and Prince Albert are exerting strong seller’s markets.”

-Léo & Taylor Morrison

 

SASKATOON

 Sales in Saskatoon are on the rise, up 40.5% from October 2019. Sales dollar volume is also increasing, up 56.4% in the city from $96.7M to $151.2M. Listings increased slightly, up 4%. Homes in the city are spending an average of 42 days on MLS. The average home price is $330,000, up 9.1% from last year. Saskatoon is exerting a buyers’ market with a 69% ratio – favouring sellers. 

SASKATOON REGION

 In the Saskatoon Region, sales are also on the rise, up 42.6% compared to October 2019. Sales dollar volume is up 26.2%. Listings are down 2.5%. Homes are spending an average of 50 days on the market. The average home price is $320,000, up 11.3% from last year. The Saskatoon Region has a sales to new listings ratio of 70.1- favouring sellers. 

PRINCE ALBERT

Comparing to October 2019, Prince Albert saw sales up by 5.1%. Sales volume dropped slightly by 0.9%. Listings increased significantly, up 34.8%. The average home price decreased 16% in the city from $250,000 to $210,000 from last year. Homes spent an average of 87 on the market. Prince Albert has a dominating sellers’ market – with 66.1% sales to new listings ratio. 

PRINCE ALBERT REGION

In the PA region, sales were up 28.6% compared to October 2019. Total sales volume was up 23.6%. Listings also increased, up 12.1%. Homes in the region stayed on the market longer than homes in the city at 100 days on average in 2020. Average home prices were down 6.4% to $234,000 from last year. Similar to the city, the region is also seeing a dominating sellers market, exerting a 71.6% sales to new listings ratio. 

Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

3 Best Investment Strategies

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 Have you ever considered investing in Real Estate? Need help analyzing deals to calculate your return on investment (ROI)? We specialize in this kind of stuff! 

Let’s take a look at 3 different investment strategies that we often analyze for ourselves and our clients, which could potentially make you big money: 

Type 1 – Flip

Flipping is a type of investing strategy where you purchase a property, add value to the place, and then sell it to make a profit.

For example, let’s take fla look at a flipping scenario: a buyer purchases a $250,000 property, puts $35,000 into home renovations, and then sells it for $350,000 in just short of 2 months. In this example, the investor would have made roughly $50,000 after paying real estate and lawyer fees and paying any holding expenses.

This is a strategy that makes an investor quick cash in a short period.

 

Type 2 – Turn-Key

A turnkey property is an investment strategy where an investor can purchase a property and immediately rent it out, hence the name “turn-key”.

Let’s take a look at a type 2 scenario: an investor buys a property for $350,000 and puts down 20% to bypass CMHC fees (the minimum % down for a property is 5%). A monthly mortgage payment along with all of the home exfipenses (*utilities, fire insurance, and taxes) is approximately $1,600. The investor rents the property out for $1,800. They would only be netting $200/month however in the long run, they are building equity! Enough equity so that in 5-10 years, a parent would have more than enough cash to put a child through an entire University degree just by selling the property.

 

Type 3 – BRRRR

BRRRR stands for Buy, fiRehab, Rent, Refinance, and Repeat. “This is an investment method that enables a buyer to borrow against the value of the property when it’s at it’s highest. This method, if done correctly, could help one recover most if not all the money invested in the property.”

This strategy involves a little more planning and details. A great explanation and example of the BRRRR method can be found on the BiggerPockets website in the following article: “How to Invest in Real Estate Using the BRRRR Method” by David Green.

Type 2 and 3 are strategies that build equity over a long period of time.

 

Taylor, being fresh in real estate, recommends the flipping strategy to build quick equity over a short period of time. She is currently saving her return on investments and coaching her clients (whom are following suit) to do the same. After saving substantial equity, her strategy is to enable herself to be able to invest in bigger BRRRR and Turnkey projects.

BRRRR is a method Leo likes to recommend to his clients. Having been in the industry for over 33 years, he enjoys helping his clients build their real estate portfolio. He personally has executed and holds several BRRRR and turnkey single-family and multi-family dwellings. There is no right or wrong strategy. It all depends on analyzing deals to ensure a strong return on investment. THAT is what we can help with! fiWe thrive on finding good deals and making our clients money.

The Dream:

If one were to hold 5 properties and pay them off by the time they were ready to retire, they could be netting around $5,000 / month just by continuing to rent the properties out. Keep in mind, there would be no mortgages on the investment properties therefore, the investor could sell a property and have the value of the home in cash, minus the real estate and lawyer fees. This in turn, provides the investor with a huge lump sum of cash to have available

 

Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

Are you looking to renovate your home this year? If so, you need to read this! 

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Calling all renovators! For those of you looking to renovate this year, be sure to check if you could apply for these renovation incentives:

 

INCENTIVE #1: Sask Party Plan – Renovation Tax Credit 

Sask Party introduces a renovation tax credit program to follow their re-election. “Homeowners taking advantage of the proposed credit would be able to claim $20,000 in renovation costs on their 2021 and 2022 income tax returns for home renovation expenses incurred between Oct. 1, 2020 and Dec. 31, 2022, saving them up to $2,100” (CTV News, 2020).

The purpose of the incentive is to “spend, build and hire, which helps drive a strong recovery,” Moe said.

 

HOW TO QUALIFY?

  • Homeowners would need to spend at least $1,000 on renovations.
  • Between $1,000 and $12,000 can be claimed on a homeowner’s 2021 provincial income tax return for renovations to a primary residence undertaken between Oct. 1, 2020 and Dec. 31, 2021.
  • Up to $9,000 in renovation expenses can be claimed on a homeowner’s 2022 tax return for work happening between Jan. 1 and Dec. 31, 2022.

 

CRITERIA

Eligible expenditures include:

  • Kitchen, bathroom, or basement renovations.
  • Roof shingles or renovating outdoor fixtures.
  • Adding carpet or hardwood floors.
  • An addition, deck, fence or retaining wall.
  • Buying and installing a new furnace, water heater or solar panels.
  • Painting the interior or exterior painting.
  • Driveway resurfacing.
  • Laying new sod.

Non-eligible expenditures include:

  • Routine repairs and maintenance typically performed on an annual or more frequent basis.
  • Furniture, draperies, appliances and mechanical items.
  • Electronics.
  • Construction equipment and tools.
  • Maintenance contracts.
  • Financing costs.

For the complete release, visit CTV news: “Sask. Party promises $124M home renovation tax credit if re-elected”.

 

INCENTIVE #2: Métis Nation – Sask Emergency Home Renovations and Repair Program 

The MN-S EHRRP Program is offered to Métis citizens of Saskatchewan and provides one up to $15,000 to address emergency repairs, housing renovations and repairs, accessibility for Seniors and those with disabilities and adaptability to changes in family composition.

 

HOW TO QUALIFY?

A Métis citizen must provide the following:

  • a Métis Citizenship Card or a letter from the Métis Nation of Saskatchewan Registry office confirming that the application is in process and has been vetted and approved
  • Saskatchewan Health Card and photo identification from the federal or provincial government (ie) driver’s license. Proof of homeownership including a copy of the title of home and/or in addition to other proof of ownership.
  • To demonstrate a need for emergency home repairs, renovations or home adaptations the homeowner must submit an application detailing emergency home repairs, renovations and/or home adaptations as listed as an eligible expense.
  • The homeowner must submit quotes, invoices, progress reports and any documentation that PMHC deems necessary to verify the financial expenditures.
  • Homeowner is responsible for expenditures above $15,000.

The loan shall be deemed forgivable upon inspection of completed work by a qualified housing inspector retained by PMHC and the inspection report submitted to PMHC.

 

CRITERA

Eligible expenditures include:

  • Emergency home repairs.
  • Home repairs and renovations.
  • Upgrades for energy efficiencies.
  • Upgrades for accessibility.
  • Senior’s upgrades for accessibility.
  • Adapt unit to family composition.
  • Build and installation of granny suites.
  • Electrical, sewer and water infrastructure, water and sewer testing.

Non-eligible expenditures include:

  • Homes located in life-lease communities.
  • Homes on leased or rented land.
  • Mobile homes in trailer parks, cottages, houseboats.
  • Homes with reverse mortgages.

*Information pulled from Metis Nation Saskatchewan EHRRP.

 

Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

SEPTEMBER | Industry Overview

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“In last month’s overview, we expected the market to follow historical trends and slow down in September, but also expected to see higher sales numbers than September 2019. We were quite accurate as the September statistics show that the market continues to be quite resil-ient as COVID-19 cases rise, surpassing the 2019 sales figures. Even though the market is cooling down as we get closer to the winter months, the interest rates continue to remain low which is a good sign sales will proceed to surpass last years.”

-Léo & Taylor Morrison

 

SASKATOON

Sales in Saskatoon were up 41% from September 2019. Sales dollar volume increased by 43%from $107.7M to $154M. Listings increased 13.4%. Homes in the city are spending an average of 40 days on the market. The median home price is $345,000, an increase of 4.6% from last year. Saskatoon is exerting a sellers’ market with a 52.9% ratio.

SASKATOON REGION

Sales in the Saskatoon region were up 54.4% from September 2019. Sales dollar volume increased by 22.8% from $1,213.9M to 7$1,490.6M. Listings increased 6.7%. Homes in the region are spending an average of 51 days on the market. The median home price is $330,000, up by 6.5% from last year. Saska-toon region is exerting a sellers’ market with a 61.2% ratio.

 

PRINCE ALBERT

Sales in Prince Albert were steady from September 2019. Sales dollar volume decreased by 12% from $7.5M to $6.6M. Listings rose 19.6%. Homes in the city are spend-ing an average of 93 days on the market. The median home price is $225,500, a decrease of 8.7% from last year. Prince Albert is exerting a sellers’ market with a 44.8% ratio.

PRINCE ALBERT REGION

Sales in the Prince Albert region were up 54% from September 2019. Sales dollar volume increased by 24.7% from $104M to $129.7M Listings rose 7.1%. Homes in the region are spending an average of 93 days on the market. The median home price is $220,000, a decrease of 3.1% from last year. Prince Albert region is exerting a sellers’ market with a 63.6% ratio.

 

Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

What Gives a Home it’s Value?

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In a previous article about what Léo and Taylor can do for you as real estate consultants, we briefly mentioned the home evaluation process. This article will dive deeper into that process, and it will break down precisely what gives a home value in the Saskatchewan market.

 

Location, Location, Location

Homes generally hold a higher value in more convenient areas. A great example is comparing prices of downtown condos compared to ones in a typical suburb. The downtown location is a lot more convenient as it is closer to shopping centres, entertainment, recreation centres and employment opportunities. In Saskatchewan, the top 7 most expensive apartment/condo-style homes are within walking distance to downtown cores that hold values above $850,000. However, a home’s value isn’t exclusively based on its proximity to a downtown area. It can also be affected by its proximity to highways, ease of access to downtown centres, and local schools’ quality.

 

Neighbourhood Comparables

One of the most straightforward tools real estate consultants use is to analyze the housing market in a particular neighbourhood. They can determine what houses are selling and ones that aren’t based on the area and the price. Under normal circumstances, homes near each other are very similarly valued because of similar traits such as age and lot size. Using comparables can typically give a plus or minus $50,000-$75,000 price range estimate.

 

Home size and Usable Space

Square footage of a home is a key indicator of its value. After doing a quick search of the first 25 homes on the MLS market in Saskatoon, the average price per square foot in Adelaide Churchill was $290/square foot. Like the neighbourhood comparables, this ratio provides a baseline valuation for a home in the surrounding area. The price per square foot may be similar in other comparable regions, but the ratio will fluctuate depending on the specific neighbourhood. In addition to square footage, the home’s usable space matters when determining its value. Usable space is the square footage of the home minus any unlivable areas such as unfinished basements, garages and attics.

 

Age and condition

Newer homes are typically appraised at a higher value because the plumbing, electrical and structure itself are less prone to failure, and if they do, they’re most likely be covered by a warranty. That’s not to say older homes are valued less because they will break down, but instead, people tend to pay a premium for housing that is move-in-ready. For older homes, it’s important to pay attention to when the mechanical was upgraded, the roof was replaced and so on.

 

Energy Efficiency

We are all well aware of the harsh weather conditions in Saskatchewan. From 30°C in the summer to -30°C in the winter, which means air conditioners and furnaces take their turns running nearly all year round. Having energy-efficient appliances can help save homeowners hundreds of dollars a year on their power bills. The newer the appliances, the better since they will be less prone to failure. Also, each year companies come out with more efficient models. A home’s R-value or the insulation rating can significantly impact value. The better the house is insulated, the more energy-efficient it will be. Extra insulation is ideal in the attic and walls, including the basement, as often they can be overlooked or insulated to the minimum standard. Other ways to increase the R-value are through window upgrades with extra panes and weather stripping and energy-efficient exterior doors.

 

Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

Most Often Asked Questions – First Time Home Buyer

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Are you a First Time Home Buyer? 
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We interviewed first time home buyers and broke down the most often asked questions. Jenn Slater from OneStreet Mortgage helped us break down the following ‘need to know’ information when buying your first house.
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How much can I afford for a home? 
“To determine ‘affordability’ you will first need to know your taxable income along with the amount of any debt outstanding and the monthly payments. Assuming it is your principal residence you are purchasing, calculate 32% of your income for use toward a mortgage payment, property taxes and heating costs. If applicable, half of the estimated monthly condominium maintenance fees will also be included in this calculation. Second, calculate 40% of your taxable income and deduct all of your monthly debt payments, including car loans, credit cards, lines of credit payments. The lesser of the first or second calculation will be used to help determine how much of your income may be used towards housing related payments, including your mortgage payment. These calculations are based on lenders’ usual guidelines. In addition to considering what the ratios say you can afford, make sure you calculate how much you think you can afford. If the payment amount you are comfortable with is less than 32% of your income you may want to settle for the lower amount rather than stretch yourself financially. Make sure you don’t leave yourself house poor. Structure your payments so that you can still afford simple luxuries.”
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What is a pre-approved mortgage? 
“A pre-approved mortgage provides an interest rate guarantee from a lender for a specified period of time (usually up to 120 days) and for a set amount of money. The pre-approval is calculated based on information provided by you and is generally subject to certain conditions being met before the mortgage is finalized. Conditions would usually be things like ‘written employment and income confirmation’ and ‘down payment from your own resources’, for example. Most successful real estate professionals will want to ensure you have a pre-approved mortgage in place before they take you out looking for a home. This is to ensure that they are showing you property within your affordable price range. In summary, a pre-approved mortgage is one of the first steps a home buyer should take before beginning the buying process.”
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What is a downpayment? 
“Very few home buyers have the cash available to buy a home outright. Most of us will turn to a financial institution for a mortgage the first step in a potentially long-standing relationship. But even with a mortgage, you will need to raise the money for a down payment. The down payment is that portion of the purchase price you furnish yourself. The amount of the down payment (which represents your financial stake, or the equity in your new home) should be determined well before you start house hunting. The larger the down payment, the less your home costs in the long run. With a smaller mortgage, interest costs will be lower and over time this will add up to significant savings. A minimum down payment of 5% is required to purchase a home.
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What are the monthly costs of owning a home?
Here are the monthly expenses: The Mortgage Payment (For most home buyers, this is the largest monthly expense), Property Taxes (can be paid in two ways – in 1 lump sum or monthly) and Utilities (including heating, gas, electricity, water, telephone and cable).
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Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

The Burning Question: Fixed or Variable-rate Mortgage?

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One of the first decisions mortgage buyers face is deciding between a fixed or variable-rate mortgage. It’s an important decision that can significantly affect your financial stability over the next few years, and the last thing you want is to make the wrong decision. Here are a few insights into the differences between the two and what it means for today’s economic environment.
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What’s The Difference?
Fixed-rate mortgage payments do not change over the agreed term, whether it’s a one-year or ten-year. On the other hand, a variable rate mortgage relies on the prime lending rate to determine the payment owed. The variable-rate can either be above or below the prime-rate depending on your credit score. The rate can also be affected depending on your relationship with the lender. Although the prime rate may fluctuate, the agreed rate below or above prime will remain constant over the contract
term.
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The Pros and Cons
The fixed-rate (FR) mortgage provides the borrower with a set interest rate, and therefore the monthly payments are fixed. Individuals can enjoy the financial stability an FR offers because of its consistency, which makes budgeting simpler. Historically, FR is typically more expensive over time because they prove to be riskier for the lenders.
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The variable-rate (VR) mortgage fluctuates with the prime rate or more commonly known as the interest rate. Although VRs tend to be cheaper, it is a riskier investment for the borrower because of the interest rate uncertainty. The interest rate continually fluctuates, and the possibility for it to increase is always a threat to your financial stability.
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What Does This Mean In Today’s Economy?
The Bank of Canada (BoC) changes the interest rate depending on multiple factors but most crucially, unemployment, exports and inflation. People are mostly aware now that the interest rates are at an all-time low because of the BoC swift action to keep our economy in motion during this uncertain time. It’s unknown whether the BoC will increase or decrease the interest rate, but it’s appealing to sway towards an FR mortgage with these ideal rates. RateSpy founder Robert McLister said in the Globe and Mail “If you’re in the trenches shopping for a new mortgage, I’m going to tell you something I’ve rarely told anyone in 13 years in this business: Variable rates are a gamble that you don’t need to take.” He added, “There’s little question in my mind that you’ll win for at least a year or two by floating your mortgage rate. But year three is a crap-shoot. And years four and five entail legitimate risk of higher borrowing costs.”.
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Consult your local mortgage specialist for more information regarding home financing. Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

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With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

As the summer air slowly cools, the days become shorter, and kids return to school, the real estate market settles… Or does it?

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As the summer air slowly cools, the days become shorter, and kids return to school, the real estate market settles… Or does it?

The real estate market in Saskatchewan follows a seasonal business cycle like most other markets in the country. For example, ice cream is a delicious and refreshing treat on a hot summer day, but hot chocolate is more common in the middle of January when it’s -40 degrees. The same general idea applies to the real estate economy. The late spring and early summer months are the busiest times of the year for realtors. During this COVID-19 era of low-interest rates, houses may continue to sell at a rapid pace.

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There are countless factors besides the calendar seasons that drive the short term real estate economy, interest rate, inflation rate, national GDP, and government policies or subsidies, to name a few. For this article’s purpose, the main focus will be around the interest rate and the seasonal business cycle over the last five years.
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The statistics from June – October
As far back as 2016, June was the busiest month of the year, with average residential sales sitting at 1,321. From there, July and August are at a close second at 1244 and 1276 respectively and can be marked at a tie because they tend to fluctuate between 2nd and 3rd highest sales months. September and October are at a close tie at an average of 1105 and 1074 sales per month. You may be thinking that there is a large drop from the summer months leading into September and October, which is partially true. The problem lies with the 2020 Sales stats from June until August because they’re anywhere from 20%- 50% higher than the five-year average. With such high sales numbers in 2020 compared to the previous four years, it can appear that sales will sharply drop, but realistically the average drop between August and September sales is only around 13.4%.
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What does this mean? 
Will house sales decline? Probably. It’s not a 100% guarantee, and it doesn’t mean that we are returning to the pre-COVID sales figures. The Bank of Canada wants to continue keeping the financial markets in motion, and interest rates continue to remain at a record low with five-year fixed rates sitting below 2%! In September and October, the real estate market is expected to continue marching along, and we could witness more broken monthly sales records as the interest rates remain low.
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Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

AUGUST | Industry Overview

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“Historically the real estate market tends to slow down around August compared with June and July, which is no different for 2020. June and July’s exceptional market performance suggested that August also would have higher sales numbers than in 2019. Sales across the province were up 46% from 2019. The markets made up nearly all the lost sales from the outbreak of the pandemic. SRA CEO Jason Yochim said, “August tends to be when things start to slow down a little, but we’re still hearing reports of multiple offers and of houses being sold almost as soon as they’re listed.” Moving forward in September, we can expect the market to follow historical trends and slow down but also expect to see higher sales numbers than September 2019.”

-Léo & Taylor Morrison

 

SASKATOON

Sales in Saskatoon were up 41.8% from August 2019. Sales dollar volume increased by 55.5% from $105M to $163.3M. Listings increased 7.7%. Homes in the city are spending an average of 42 days on the market. The median home price is $336,000, an increase of 8.7% from last year. Saskatoon is exerting a sellers’ market with a 59.1% ratio.

SASKATOON REGION

Sales in the Saskatoon region were up 47.7% from August 2019. Sales dollar volume increased by 18% from $1,076.9M to $1,271.2M. Listings increased 6.9%. Homes in the region are spending an average of 50 days on the market. The median home price is $327,900, up by 11.9% from last year. Saskatoon region is exerting a sellers’ market with a 60.3% ratio.

 

PRINCE ALBERT

Sales in Prince Albert were up 18.6% from August 2019. Sales dollar volume increased by 20% from $9.2M to $11M. Listings fell 15%. Homes in the city are spending an average of 104 days on the market. The median home price is $205,000, a decrease of 4.7% from last year. Prince Albert is exerting a sellers’ market with a 100% ratio.

PRINCE ALBERT REGION

Sales in the Prince Albert region were up 18.5% from August 2019. Sales dollar volume increased by 21.4% from $91.9M to $111.5M Listings fell 9.6%. Homes in the region are spending an average of 89 days on the market. The median home price is $216,000, a decrease of 4% from last year. Prince Albert region is exerting a sellers’ market with a 78.7% ratio.

 

Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

What do Taylor and Leo do?

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Have you ever wondered what Leo and Taylor do for their clients on a daily basis?
It isn’t straightforward since each day presents their unique challenges and experiences, but this article will help summarize what we can do for you!

It all starts with a seller or buyer lead, either a homeowner wanting to sell, or a person wishing to purchase a home.

Buyer Lead
In the case of the buyer, we begin by applying for a pre-approved mortgage from their bank or lending institution. Getting pre-approved for a mortgage speeds up the process because there is less chance a deal will fall through due to financing. From there, Taylor or Leo meet with the client(s) to determine what type of housing they need for their particular lifestyle. Through their professional judgement, they can typically narrow down a price range, neighbourhood, and house square footage in the very first meeting!

With the necessary information gathered, Taylor and Leo then look to the MLS market to present their clients. Client feedback is crucial at this stage because they can narrow down the search criteria, whether the client needs a larger kitchen, a more open layout, or a larger backyard, to mention a few.

Homebuyers tend to fall in love with particular aspects of a house; it can be because it has great curb appeal, a desirable yard, or a pleasant neighbourhood and can lead to overlooking unseen flaws. Unseen flaws can be foundation cracks, a leaking roof, lousy plumbing, the lack of local amenities etc. The team offers a non-biased objective opinion, meaning that they will not overlook any flaws and provide the buyer with a repair cost estimate, an overall knowledge of the local area such as schools, recreational amenities and plenty more.

Seller Lead
For the sellers, the first step is to gather all the house’s information and specifications to evaluate by comparing the client’s home to other similar houses on the market. Each house is different in their own way, so that’s where Taylor and Leo come in, to nit-pick differences and place a price range on your home. It’s ultimately up to the homeowner to pick a sale price, but choosing a price higher in the evaluated range means fewer viewings, and the house may be on the market for a while.

The next step is to stage the home and make it look more appealing to potential buyers. According to the Real Estate Staging Association, staged homes sell, on average, 73% faster! Once all the finishing touches are complete, the team invites their professional photographer to take studio-quality images in and around the property. The most recent strategy Taylor and Leo have incorporated into their listings is drone photography, which gives a ‘birds-eye-view’ of the property. Once all of it is complete, it is ready to go on the market!

Closing The Deal
When a purchase or sale deal is presented, then it’s paperwork time. There are plenty of legal issues when buying and selling a home from making sure the structural integrity is sound, negotiating terms and prices, and ensuring financing is in place. Once they reach the offer stage, it is essentially a race for the buyers to get their paperwork submitted because there may be multiple buyers at the same stage. Those are a few to mention; each deal is unique, and the set of challenges differ, but you can be assured Leo and Taylor handle it all.

Any questions? Feel free to get in touch with us and we’d be happy to explain it all!

With respect, 
Taylor and Léo 

Taylor & Léo Morrison 
Colwell Banker Signature
(306) 370-8474
[email protected]

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