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Should I Purchase My Home Now or Wait for the Market to Stabilize? Shah Remax Saskatoon 306 3412739
Should I Purchase My Home Now or Wait for the Market to Stabilize?
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Many people are debating whether they want to buy a property now or whether they should wait. They are getting mixed messages from the media about the market conditions and the state of the economy. Reports are indicating that the real estate market is rebounding. However, we are still hearing negative news about businesses folding and job losses. So is now a good time to buy?

The decision whether to buy a home now or wait is very tricky at the moment. On the one hand you have very low mortgage rates as the Bank of Canada had cut the interest rate several times in the last few months to try and get the banks lending again. Deals as low as 2.75% are being advertised to entice new customers into the market and get the chain moving again. Also, property prices have dropped in the last year and there are many good deals to be made.

On the other hand, there is still the question whether housing market prices will hold or drop further. Potential buyers are wary about taking on such a huge borrowing to find that the dream house they have just bought may be worth appreciatively less in six months’ time.

House prices are cyclical. A low market is always a good time to buy even though it may be several years before the market rebounds. The property market will rebound. If you are in a position to buy a house and can afford the repayments, buy now. Waiting to buy could result in paying much higher prices in a rising market.

Are you really ready?
It is also important to consider how long you will be in the home that you are about to purchase. Once you buy the home, it may be very difficult to resell right now. If the market continues to drop and you end up moving and selling in a year, you may have been wiser to wait a bit longer. So that is something that you want to make sure that you consider when making the decision to purchase a home.

Of course, if you have a long-term plan to be in the home, the fluctuations and potential decrease in value in the near term doesn’t need to get you down, as the only price that matters is the price you are able to sell for when you need or want to move.

Another thing that you need to think about is if you can afford the home that you are considering buying. While prices have dropped recently, you want to make sure that you find a home that is going to fit your budget.  As a precautionary measure you should also budget for the fact that the cost of living might rise even further, and that being able to afford these increases will be important.

If you have the funds available for a down payment and you are eligible for a mortgage, and feel comfortable about your job security, and currently meeting the rising costs of living fairly easily; then the time is probably right for purchasing property. It is still a buyer’s market, so find your dream home, negotiate your best deal and jump in. Buying property now is one of the best times in the last hundred years to get a bargain.

 

Posted: Sunday, September 20, 2009 5:59 PM by Shah Ahmed | 0 Comments
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Don’t Cry Over Spilt Motor Oil posted by Shah. REMAX SASKATOON "www.shahahmed.com"
Q: I have a spot on my flagstone patio that was caused by spilled motor oil. Any idea how I can clean it? --Scot C.

A: You can typically remove oil from stone by making a poultice to draw the oil out. First, clean the spot thoroughly with hot water and a strong soap such as *** and Span, using a nylon-bristle brush on the spot. This will remove as much of the residual oil as possible.

Next, you'll need to purchase some fuller's earth. This is a clay product that is used in things like kitty litter, but is also very effective in the absorption and removal of oil. It comes in powdered form, and is available from some cosmetic and chemical retailers, or online. Mix the fuller's earth with hot water to form a paste about the consistency of peanut butter, and spread it over the stain. Cover this with a piece of plastic sheeting that has some holes poked in it so the poultice can dry, and leave it on the stain overnight. Scrape up the residue the next day with a plastic scraper, then rinse with clear water. You may need to do this more than once.

Keep the poultice isolated to just the stained area, keeping it off the surrounding stone as much as possible. I would also try this on a piece of scrap stone or in an unobtrusive corner to make sure of how the stone will react before doing it in the middle of your patio.
Posted: Tuesday, August 11, 2009 10:45 AM by Shah Ahmed | 0 Comments
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Understanding Title Insurance By SHAH AHMED Saskatoon Realestate Agent 306 3412739
Understanding Title Insurance
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Title Insurance gives homeowners protection should someone else claim a legal interest in their property. It also protects homeowners against loss resulting from pre-existing municipal work orders, survey issues, certificate of location defects, unpaid taxes by previous owners and a number of other covered title risks such as Title Fraud.

What is Title Insurance?
When you purchase a home you're actually paying for title to the land: you acquire the right to occupy and use the space. Part of the price paid will be for the improvement, or the actual home, but the major cost of most property is the land itself. You obtain title to property when the owner signs the deed (transfer document) over to you. Title is then registered in the government’s land registration system.

Prior to closing, public records are "searched" to determine the previous ownership of the property, as well as prior dealings related to it. The search might reveal, for example, existing mortgages, liens for outstanding taxes, utility charges, etc., registered against the property. At closing, the buyer expects the property to be free of such claims, so normally they must be cleared up before closing. For example, the seller's mortgage will be discharged and outstanding monetary expenses (such as taxes and utility charges) will be paid for (or adjusted for) at closing.

If the title is restricted by rights and claims of others; this could in turn limit your use and enjoyment of the property and even bring financial loss. However, such issues may not be discovered or remedied before closing. Title insurance will protect you against these situations.

Do I need Title Insurance?
Title insurance is not a requirement in some provinces. To fully understand what type of protection title insurance can provide you, talk to your lawyer, title insurance company or insurance agent/broker to determine whether or not you should purchase title insurance or if other options exist. Once you get all the facts, you can make an informed decision based on your specific situation and needs.

Who is protected with Title Insurance?
Title insurance policies can be issued in favour of a purchaser (on new/resale homes, condos and vacation properties), a lender, or both the purchaser and lender. Lenders will sometimes require title insurance as a condition of making the loan. Title insurance protects purchasers and/or lenders against loss or damage sustained if a claim that is covered under the terms of the policy is made.

What does Title Insurance cover?
For a one-time fee, called a premium, a title insurance policy may provide protection from losses, such as:

  • Unknown title defects (title issues that prevent you from having clear ownership of the property);
  • Existing liens against the property’s title (e.g., the previous owner had unpaid debts from utilities, mortgages, property taxes or condominium charges secured against the property);
  • Encroachment issues (e.g., a structure on your property needs to be removed because it is on your neighbour’s property);
  • Title fraud;
  • Errors in surveys and public records; and other title-related issues that can affect your ability to sell, mortgage,
    or lease your property in the future;
  • Your title insurance policy will protect you as long as you own your property, and will cover losses up to the maximum coverage set out in the policy. It may also cover most legal expenses related to restoring your property’s title.

For a risk to be covered, generally it has to have existed as of the date of the policy. As with any type of insurance policy, certain types of risks might not be covered, for example, native land claims and environmental hazards are normally excluded. Be sure to discuss with your lawyer what risks are covered and what are excluded.

How long is the insurance coverage?
Residential title insurance coverage lasts as long as you own the property. Most residential title insurance policies extend coverage to your heirs through a will, to a spouse in the event of a divorce, or to children when the property is transferred from parents to children for nominal consideration.

In the case of title insurance covering a lender, the policy remains in effect as long as the mortgage remains on title. A lender covered under a title insurance policy is insured in the event the lender realizes on its security and suffers actual loss or damage with respect to a risk covered under the policy. Lenders are usually covered up to the principal amount of the mortgage.

The premium for title insurance is paid once (at the time of purchase). Generally speaking, in Canada the purchaser of the property pays for the title insurance, though there can be situations where the seller pays for it. Some policies automatically cover both the purchaser and lender; others will cover both for a small additional fee.

Protection and peace of mind
Title insurance can help ensure that a closing is not delayed due to defects in title. And, if an issue relating to title arises with respect to a risk covered under the policy, the title insurance covers the legal fees and expenses associated with defending the insured's title and pays in the event of loss. It is important to keep in mind that title insurance does not replace legal advice when purchasing property.

If your home is important to you, don't overlook this important piece of insurance.

Call with confidence and the most trusted name in

Saskstoon Real Estate. RE/MAX Saskatoon Agent 

 Shah Ahmed.

 Saskatoon Agent.

 306 3412739

 

Posted: Saturday, July 04, 2009 2:01 AM by Shah Ahmed | 0 Comments
Buying a Home? Take Charge and Be in the Pilot Seat By SHAH AHMED Saskatoon Agent 306 3412739
Buying a Home? Take Charge and Be in the Pilot Seat!
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Does the idea of buying a home seem overwhelming to you? Do you ask yourself questions like: How much can I afford? How can I find the best loan? Should I buy a new or a resale home? Should I use an agent or look at homes on my own? You probably have many other questions too.

Buying a home is one of the major decisions that you will make in life, and is one of the largest financial transactions in your lifetime. Although there is much to consider when buying a home, if you do your research and approach the home buying process with confidence, you will most likely buy a house that you will be proud to call home.

Below are the three most important things to remember no matter where you are on the road to home ownership. If you follow them closely, you will be happy with the end result!


1. Understand the home buying process.
When buying a home, there is nothing that is complex that can't be easily explained to anyone. If you don't apply for a thirty year mortgage once a week, don't take the first one that comes along. You'll need to do your research, learn some new terms, apply some new concepts, and take the time to understand the entire process. If something happens at any point that you don't understand, simply ask for a full and complete explanation from someone you trust like your real estate agent, accountant or your lawyer.

2. Become the most important person in the process.
In the world of real estate sales, YOU are the most important person in the home buying process. It's easy to think that everyone else carries more weight than you but that's not the reality. The seller owns the house and has all the money and the real estate agent tries to sell the house for the seller. However, you, the buyer, are the one person in the transaction that makes it all happen. This entire process could come to a stop if you decide not to buy. So why not take command of this process?

3. Surround yourself with a team of professionals that you trust and make them work for you.
A good realtor, mortgage specialist and a property lawyer are some people that you can count on to help you. They all save you time and money. They know your community, they know what is important when buying and selling a home, and they know all the intricacies of the process, from finding a home, to negotiating a price, to closing a deal and to ensuring the paperwork is done right.


As you can see, if you approach home buying with intelligence and confidence, you are more likely to buy a house you’re happy with and know that you made the right decision. When you start to walk down this road, take charge from the first step and be in the pilot seat to ensure your satisfaction. Remember, YOU are the most important person in this process!

Call Shah Ahmed Trusted name in Saskatoon Real Estate.

306 3412739   RE/MAX Saskatoon

Posted: Saturday, July 04, 2009 1:57 AM by Shah Ahmed | 0 Comments
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House Sales Continue to Trend Upward June 2009 posted by Shah Ahmed 3063412739
Market Watch - June 2009
Housing Sales Continue to Trend Upward Small Pic

Figures released by real estate boards around the country are showing a positive upward trend in sales driven by improved affordability and less uncertainty about the future.

"Home sales have bounced back from the extraordinarily low levels recorded during the winter months," said Cameron Muir, BCREA Chief Economist. "Improved affordability and less uncertainty about the future are the main factors driving home sales higher."

“This was the best May on record for residential resale home sales in Ottawa,” said Board President Rick Snell. “Homes in every price range are selling well, from starter homes to luxury properties. Homebuyers and sellers are showing a lot of confidence in the Ottawa real estate market,” he added.

“We're now seeing greater balance in the housing market than what we have over the last while," says Linda Smardon, President of the Nova Scotia Association of REALTORS®.  “The bridge between buyer demand and housing supply is continuing to narrow, which helps maintain stability in housing prices," she adds.

Below is a brief summary of sales activities in some areas across the country:

Alberta - Housing sales continue to trend upward

Calgary, June 1, 2009 – According to figures released by the Calgary Real Estate Board, 1,584 homes was sold in the Calgary metro area in May. This is a 23% increase on sales in April.

“The spring market has received an added boost from a growing number of first-time buyers entering the market,” says Bonnie Wegerich, President of the Calgary Real Estate Board.

In the month of May, homes in Calgary metro priced at $400,000 or less accounted for nearly 70% of all home re-sales. “We are seeing the first year-over-year gain in single family home sales since last September,” says Wegerich. “A pent up demand has been building—with many first-time home buyers now taking advantage of affordable prices, record low interest rates and federal government housing incentives,” added Wegerich.

The average price of a single family Calgary metro home in May 2009 was $436,427, showing an increase of 2% from April 2009, when the average price was $426,311, and showing a decrease of 9% from May 2008, when the average price was $479,564. The average price of a Calgary metro condominium was $275,212, showing a 1% decrease from April 2009, when the average price was $277,953, and a decrease of 12% over last year, when the average price was $311,816.

“The gap between supply and demand at the end of last year was pushing prices down,” says Wegerich. “But since December we have seen five consecutive months of increases in home sales, while inventory continues to trend lower. The gap has narrowed and prices are stabilizing.” Single family Calgary metro new listings added for the month of May totalled 2,235, up 11% from the 2,010 new listings added in April 2009, and showing a decrease of 35% from May 2008, when 3,432 new listings came to the market.

British Columbia - Home sales continue to climb

Vancouver, June 11, 2009 – The British Columbia Real Estate Association (BCREA) reported that Multiple Listing Service (MLS®) residential sales in the province rose 3% to 8,270 units in May 2009 compared to the same month last year. It was the first year-over-year increase since December 2007. The month of May also posted the highest number of residential sales since April 2008, on a seasonally adjusted basis, and was the fourth consecutive month of rising home sales.

"Home sales have bounced back from the extraordinarily low levels recorded during the winter months," said Cameron Muir, BCREA Chief Economist. "Improved affordability and less uncertainty about the future are the main factors driving home sales higher."

"The combination of stronger consumer demand and fewer homes for sale is stabilizing home prices in many BC markets," added Muir.

Year-to-date, MLS® residential sales dollar volume was down 31% to $11.7 billion over the same period last year. A total of 26,359 units were sold in the first five months of 2009, down 26% from 2008, while the average MLS® price declined 7% to $443,252.
 
Nova Scotia - Average price of homes rises to new record in April

Nova Scotia, May 22, 2009 – The average price of residential  properties in Nova Scotia climbed to its highest level on record in April 2009. According to statistics provided by the Nova Scotia Association of REALTORS®, the average price for residential properties sold through the MLS® system in Nova Scotia was $206,668, a 5.4% increase over April of 2008.

The national average price was down 3.2% year-over-year. The average price in Halifax-Dartmouth, where homes are more expensive than in other markets in the province, rose by 6%. The increase in average price was greatest in the Annapolis Valley region at 15%, followed by the South Shore at 11%.

“The pricing trends indicate that consumers still have confidence in our housing market,” says Linda Smardon, President of the Nova Scotia Association of REALTORS®.

The number and value of sales were down in April 2009 when compared to April 2008. A total of 857 houses traded hands via the MLS® system in Nova Scotia, a 27% decline in sales activity. The value of all MLS® residential property sales in Nova Scotia decreased by 23%.

New listings posted their fourth consecutive year-over-year decline in April 2009, down 7% from year-ago levels.

“We're now seeing greater balance in the housing market than what we have over the last while," says Smardon. “The bridge between buyer demand and housing supply is continuing to narrow, which helps maintain stability in housing prices," she adds.

Active listings continue to rise in Nova Scotia, but year-over-year gains are slowing as new listings trend lower. The number of active residential listings increased by 9% which is the smallest year-over-year increase in 11 months.

Ontario - Record-breaking number of resale homes sold in May

Toronto, June 2, 2009 – Greater Toronto REALTORS® reported 9,589 sales in May which is almost 2% up from May 2008—the first annual increase since December 2007.

“The resale housing market in the GTA has remained resilient in the face of challenging times globally,” according to TREB President Maureen O’Neill. “Many home buyers have taken advantage of extremely low mortgage rates.”

The average price for May transactions was $395,609—down less than 1% compared to the same month last year.

“The average resale home price has moved in line with last year’s level because of tighter market conditions experienced this Spring,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales have increased strongly relative to new listings, bolstering home prices.”

Ottawa, June 3, 2009 – Members of the Ottawa Real Estate Board sold 1,969 residential properties in May through the Board’s Multiple Listing Service® system compared with 1,896 in May 2008, an increase of 3.9%. That number also represents a 19% increase over the 1,594 sales recorded in April 2009.

Of those sales, 348 were in the condominium property class, while 1,621 were in the residential property class. The condominium property class includes any property, regardless of style (i.e., detached, semi-detached, apartment, etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“This was the best May on record for residential resale home sales in Ottawa,” said Board President Rick Snell. “Homes in every price range are selling well, from starter homes to luxury properties. Homebuyers and sellers are showing a lot of confidence in the Ottawa real estate market,” he added.
The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $312,045, an increase of 5.3% over May 2008. The average sale price for a condominium-class property was $231,351, an increase of 4.6% over May 2008.

The average sale price of a residential-class property was $329,368, an increase of 4.7% over May 2008. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

Posted: Monday, June 29, 2009 11:38 PM by Shah Ahmed | 0 Comments
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Saskatchewan economy continues to lead the country. (Shah Ahmed 306 3412739)

Saskatchewan economy continues to lead the country

Saskatchewan continues to have the lowest unemployment rate and the strongest year-over-year job growth in Canada.

Still, the global recession is beginning to have an impact on employment in this province.

According to the latest employment report released today by Statistics Canada, there were 511,000 people working in Saskatchewan in March. That's an increase of 10,900 compared to March 2008, but a decrease of 3,300 since February of this year.

Every other province in Canada except Nova Scotia has seen the number of people working decline over the past year. In total, Canada lost 306,400 jobs over the past year.

Saskatchewan's unemployment rate is now 5.2 per cent - the lowest in Canada. Regina has an unemployment rate of 4.0 per cent - the lowest among major Canadian cities - while Saskatoon is tied with Winnipeg and Ottawa for third-lowest at 5.1 per cent.

"The good news is - there are a lot more people working in Saskatchewan than there were at this time a year ago, and Saskatchewan's economy continues to weather the economic storm much better than every other province in Canada," Premier Brad Wall said. "However, I have always said that Saskatchewan is not immune from the global economic downturn and there have definitely been some job losses in recent weeks," Wall said. "That's why our government moved quickly to provide an ‘economic booster shot' by speeding up spending on construction projects. This should start to have a positive impact in the next few weeks as construction season swings into high gear."

There are 2,600 more aboriginal persons working in Saskatchewan in the part year, an increase of 7.9 per cent, and 8,900 more women working in the province, an increase of 3.8 per cent.

Wall said there are still many Saskatchewan employers looking for new workers. "This morning, there were nearly 6,500 job openings posted on the Saskjobs.ca website," Wall said. "Saskatchewan is still the best place to be in Canada if you're looking for work."

House sales in Saskatoon is also getting better and better every day. People are confident about Saskatoon housing market. Builders started putting spec houses on the ground.

Shah Ahmed -Experience the Real Difference-

306-3412739

Posted: Wednesday, April 29, 2009 11:41 PM by Shah Ahmed | 0 Comments
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Saskatchewan's population boom not slowing down

March 26, 2009

Saskatchewan's population boom not slowing down

Saskatchewan's population grew to 1,023,810 people on January 1, 2009, an increase of more than 15,000 people from January 1, 2008.

New figures released from Statistics Canada today show that Saskatchewan's population grew by .29 percent in 2008. The only provinces with faster growth rates were Alberta and British Columbia.

Saskatchewan's population has grown by almost 3 thousand people since October 1st of last year, and all signs are pointing to continued growth in the first quarter of 2009.

The population growth should result in a continued strong housing market in the province.

Posted: Thursday, March 26, 2009 11:34 PM by Shah Ahmed | 0 Comments
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Get Result With Shah Ahmed Saskatoon RE/MAX Realtor.

Get Result With Shah

Shah has been selling Saskatoon real estate for the past 3 years.  He is experienced in all aspects of  residential real eatate and offers consistent, top quality service to his clients.So
whether you are planning on buying your first home or selling your existing home, Hire Shah . . .
Call:  1 (306) 341-2739
Experience the Real difference

Shah Ahmed.

The Realtor that Really Works!

 My Exceptional Marketing Plan

Selling an exceptionally beautiful home like yours requires an exceptional marketing plan, one that will reach many prospective buyers looking for a home with unique qualities like yours. A plan that will present your home in all its beauty, showcasing every detail that makes your home special. An approach that will make detailed information about your home available to buyers throughout the world, 24 hours a day, 7 days a week. A strategy that will set your home apart from all the ordinary homes on the market and put it before an appreciative audience.

My marketing strategy for selling your extraordinary home will include:

  • Targeted print advertising such as Luxury Home Magazine, Unique Homes Magazine and others
  • Listing your home on hundreds of real estate agent web sites and other web sites such as realtors.com, remaxsaskatoon.com, shahahmed.com, saskatoonagent.com, and search engines like Google, Yahoo and many others
  • Professional home staging assessment
  • Professionally written text to describe your home in glorious detail
  • Up to 100 professionally taken photos & can put live Video Tour
  • A yard sign featuring your home's Web address so that interested people who have driven by your home can quickly access detailed information
  • Broker open houses introducing your home to area real estate agents
  • Open houses presenting your home to prospective home buyers
  • Full color flyers
  • You will have a control of your own listing on our web site. Isn't it exceptional.
  • A single property Web site dedicated to selling only your home (yourproperty url)
  • A virtual or walk-through tour
  • Announcements to your neighborhood that your home is for sale
  • Communicating to groups to which you belong: your church, golf club or other groups that you would like to notify

Market Evaluation! No Cost. No Commitment.

 

My Exceptional Buyers Plan

When you enlist my assistance buying your home, my services are FREE. I will help your purchase go smoothly, while protecting YOUR interests, by providing these and more services:        

  Analyze home and neighborhood wants and needs

  • Create customized home searches based on your input
  • You can get automated e mail alerts Direct to your Email. by Just putting some information into AUTOMATED SEARCH tab right on my web site.
  • Communicate regularly to notify you when new listings come to market
  • Preview homes
  • I do proffessional Home inspections for all my buyers. Free for Buyers
  • Coordinate home viewings
  • Present and negotiate offers and counteroffers to come to a satisfactory final purchase agreement
  • Coordinate appropriate paperwork and transaction requirements with your loan officer, the listing agent, escrow officer and other appropriate personnel throughout transaction
  • Attend inspections
  • Negotiate any needed or requested repairs per inspection reports
  • Escort you on final walk through to ensure property is in proper condition
  • Review closing documents
  • Attend signing of documents at title company
  • Verify transaction has closed and the new deed has been recorded
  • Transfer all keys and other items such as gate codes, garage door openers, etc. to you
  • Arrange Moving service to assist you with tasks such as moving day coordination, new service set-up, etc.

Call Shah (Shaw) Ahmed Today: (306) 341-2739 or email: Shah@shahahmed.com

Posted: Wednesday, March 18, 2009 3:33 PM by Shah Ahmed | 0 Comments
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