Hello Lloydminster! As we close out August and step into September, here's a look at this week's real estate highlights:

• Active Listings: 151

• Properties Sold Last Week: 17

• Average Sold Price: $281,659

• Average Days on Market: 55

Market Trends:
This week, our market continued to demonstrate robust activity with 17 properties successfully sold and 5 more currently under contract. With homes averaging just 55 days on the market, it’s clear that properties are moving swiftly, reflecting strong buyer engagement.

🏡 Thinking of Listing Your Home?
If you're considering selling, the current market dynamics are in your favor. Take advantage of the active buyer interest and lower inventory to showcase your home. Let's get your property on the market and achieve the best possible outcome!

Hello July!

Here are the key stats for the residential market in Lloydminster for June 2024:

• Average Days on the Market: 74 days

• Average Sold Price: $294,130

• Total Active Listings: 148

The market is active with a range of properties available, from affordable homes to luxurious estates. If you have any questions or need assistance with your real estate needs, feel free to reach out!

Best regards,
Harpreet Christie
780-205-7653
harpreet@bordercityrealestate.com
http://BordercityRealEstate.com

Real estate tips on the internet can often be too general and vague to be truly useful. That’s not the case with today’s tips though! 

Here are four actionable tips that can significantly boost your home's market value:

1. Look to Kitchen and Bathroom Upgrades for Maximum ROI: Focus your attention (and money!) on upgrading the kitchen and bathroom as these spaces deliver the highest return on investment (ROI) for most homes. Buyers appreciate modern, updated spaces, but remember to strike the right balance. Avoid overly customized renovations that may not appeal to a broader audience, ensuring a higher ROI in the process.

2. Add Energy-Efficient Upgrades to Save Buyers Money: Showcase your home's money-saving aspects by incorporating energy-efficient upgrades. Consider installing LED lighting, upgrading insulation, and investing in energy-efficient appliances and HVAC systems. These features not only attract environmentally conscious buyers but also demonstrate potential savings on utility bills—an enticing prospect for any new homeowner!

3. Improve Curb Appeal to Make a Lasting First Impression: Curb appeal can make or break a home’s sale because it’s all about first impressions. Take a careful look at your home's exterior to see if any upgrades need to be done, paying special attention to the entryway and “face” of the house. A welcoming first impression sets the tone for the entire viewing experience and can significantly impact a buyer's perception of your property.

4. Create a Blank Canvas: When you’re getting ready to put your home on the market, take the time to declutter and depersonalize your space. Creating a clean and neutral canvas will help buyers envision their future in your home. It’s also worth considering enlisting a professional stager to highlight your home's potential and make a lasting impression on potential buyers.

Want a personalized home analysis so you can get the most out of your home when you list it on the market? Let’s Connect! Whether you're looking to sell soon or are just curious about your property's potential, let’s work together to answer your home-selling questions!

Harpreet Christie
REMAX Lloydminster 
780-205-7653
Bordercityrealestate.com

When it comes to selling your home, you can’t afford to ignore this real estate advice. Listing your home at the correct price is everything! 

This advice might seem simple at first, but the impact of your listing price can directly influence the outcome of your home’s sale. As a real estate agent, it’s common to see homes on the market with incorrect price tags. An overpriced or underpriced home can have disastrous consequences, leading to a stagnant listing and a cascade of unfavourable consequences.

Let's delve into why getting the pricing right is so important and how an incorrectly priced home can affect you:

1. Not Attracting Good Buyers: A home priced too high risks pricing out the most motivated potential buyers—the ones who could potentially secure you the best profit. Likewise, a home that’s priced too low might get you interest, but you won’t make the most profit. Finding that sweet spot with the right listing price will ensure that your property attracts serious and interested buyers who are more likely to make competitive offers.

2. Scaring Away Buyers: A listing that lingers on the market due to overpricing often scares away potential buyers. If a home has been sitting on the market for a while, many buyers will wonder “What’s wrong with it?” and then will be reticent to see the home. The same thing happens with an underpriced home. Buyers will assume that there’s something wrong with the home because someone hasn’t snatched it up at the low price, resulting in less interest and a stagnant listing. 

3. Inviting Lowball Offers: The longer a property sits on the market without attracting interest, the more likely it is to receive lowball offers. When this happens, many sellers feel pressured to accept less than the property's true value. This is the opposite of what you want to happen with your home sale! 

To safeguard your interests and maximize your returns while selling your home, you need to focus on listing your home at the right price from the very beginning. Correct pricing not only attracts interested and motivated buyers but can also ignite a bidding war—every seller's dream!

But pricing a home correctly can be tricky–that’s where your real estate agent comes in with the experience, knowledge, and industry stats you need to list your home at the right price.

Ready to list your home at the right price so you can sell for top dollar? Let’s chat!

Harpreet Christie
REMAX Lloydminster 
780-205-7653
Bordercityrealestate.com
March 28, 2024

If you want to sell your home, chances are that you’re looking into how you can maximize the profit you make from the sale.

It's not uncommon for sellers to dive into a whirlwind of renovations, wanting to overhaul every aspect of their home before putting it on the market. Their idea is that doing all the renovations will get the most profit when selling the home. While this seems like a proactive approach, it can actually net a low return on investment (ROI) at the end of the day. 

Instead of just blindly making renovations and hoping for the best, smart sellers will focus on understanding the market dynamics of their specific neighbourhoods. By analyzing recent sales data and trends in your neighbourhood before you renovate your home, you’ll be able to make informed decisions on renovations that resonate with potential buyers and get a high ROI!

When considering renovations, focus on these three things. 

Maximizing ROI: Not all renovations will have the same impact. By understanding what has been selling and at what price point in your area, you can identify the renovations that provide the highest ROI. This strategic focus ensures that you optimize your spending on renovations for maximum financial gain.

Market Alignment: Sellers often end up upgrading their homes based on their personal tastes rather than aligning with what buyers are looking for. While you might love a dark, dramatic kitchen, the local market might be favouring something more light and bright. To get a good ROI and attract the right buyers, make sure to consider the preferences of potential buyers to attract the right audience.

Tailored Guidance: Understanding the nuances of your local market can be overwhelming, but you don't have to navigate it alone. If you're curious about what's selling in our market and the improvements that could enhance your home's appeal, just reach out to your real estate agent! They’ll get you the latest stats and provide personalized guidance for your home’s renovations. 

Don't let uninformed decisions cost you thousands of dollars. Instead, make the right renovations that attract motivated buyers and net you the biggest profit possible! For more information, let’s start the conversation.


Harpreet Christie
REMAX Lloydminster
780-205-7653
Bordercityrealestate.com

A parking ban for the blue curbside collection zone is in effect from March 6-15, 2024, from 7 a.m. to 5 p.m. Monday-Friday, while crews complete a residential snow removal. Please ensure vehicles, collection carts and other obstacles are removed from the side of the street during this time.

Once crews have completed the street, including the removal of windrows, street parking may resume.

A parking ban in the yellow collection zone will be in effect from March 11-20.

Residents can sign up for notifications about parking bans and other traffic-related updates by selecting the Roads & Traffic checkbox under the News section at Lloydminster.ca/Subscribe.

Background

In late 2023, the City of Lloydminster updated its winter maintenance policy to include rotating parking bans from October 31 through March 31. For winter 2023/24, the City will raise awareness of the changes and begin enforcing the parking ban on October 31, 2024. Vehicles found violating the ban will be towed and impounded at the expense of the vehicle's registered owner.

Are you dreaming of a new home but reluctant to let go of your killer low mortgage rate? Then read on for a real estate tactic that is a game changer for anyone looking to purchase a new home without losing their low rate.

If you bought a home a few years ago, you probably have a great interest rate. Chances are that you don’t want to lose that rate! If you’re in this position but want to move and buy a new home, you might feel stuck between your current rate and buying a new home.

Don't let your current good interest rate hold you back from your dream home. Instead, leverage your current interest rate and home to build your investment portfolio and strengthen your financial future.

To do this, you’ll use a Home Equity Line of Credit (HELOC) to pull some of the equity out of your current home. You’ll use this equity as a down payment on your new home and then move into the home you’ve been dreaming of!

But here's the twist: instead of parting ways with your current home, you’ll transform it into a rental property. This strategy not only maintains your low interest rate on your current mortgage, but will also generate a source of passive income. If you price your rental right, you can generate enough income to cover the mortgage on your first home while also covering some of the mortgage on your new home, creating a win-win situation for your financial stability.

With this approach, you’ll maintain your current low interest rate while also building equity in two homes at the same time. Now, you’ll be able to grow equity in both your current and new home simultaneously, paving the way for long-term wealth.

By leveraging the untapped potential within your current property, you can make strategic moves in real estate and grow your investment potential.

If you're eager to elevate your home's value while securing your interest rate, don't hesitate. Contact me today and let's unlock your property's full financial potential.

Harpreet Christie
REMAX Lloydminster
780-205-7653
Bordercityrealestate.com

Inspections are one of the most important parts of the home-buying process, but you wouldn’t know it by the way many people talk about them! 

Often the inspection process is overlooked with all the excitement that comes with getting an offer accepted. Worse is when buyers choose to do a cheap home inspection that could miss big issues they’ll have to fix down the line. 

One reason why inspections are so worth spending money on is that they can save you a ton of cash on the purchase price of your home. 

At first glance, a $1,200 (or more) home inspection can feel expensive. This is especially true when you’re in the process of paying all of the other closing costs. But it can be well worth the cost for two reasons: 

1) If an issue is found through the inspection, like a leaky roof or faulty plumbing, you can address those issues with the sellers. 

Your agent will help you negotiate how the problems with the home will be remediated or paid for. This could look like the sellers are offering incentives, giving you funds to do your own repairs, or knocking the purchase price down by $15,000! 

2) If no issues are found, then you can be confident going into the purchase knowing that the property is a good one and won’t have any issues. This peace of mind can be priceless, especially for your first home. 

Between these two compelling reasons, you can see why getting a good home inspection is so important. It’s so worth taking the time to do your due diligence and find a good inspector who will check out every aspect of the home. 

Ask for referrals, check reviews, and talk with the inspector to see their previous work and make sure that you feel comfortable using their services. It can make a big difference in your satisfaction with your purchase and your home! 

If you need referrals to great home inspectors in Lloydminster & Area, Feel free to call me and I will give you the List!

Harpreet Christie
RE/MAX of Lloydminster
780-205-7654
harpreet@bordercityrealestate.com

The stakes are high as the Lloydminster Men’s Shelter is moving forward on building a new shelter for its clients and Saturday’s Coldest Night Of The Year event comprises part of the seed money.

The soon-to-be-released city survey on housing needs has revealed about 193 people are experiencing some form of housing insecurity, says Michael Davison, with the Men’s Shelter.

“In our current facility we are only equipped to handle less than 30 at any given time and there’s obviously a big gap between what the requirements and the needs of the city are in terms of support and what we can provide.”

Davison adds there are other organizations in the community doing similar work, but notes the extra demand for the services that the Men’s Shelter provides.

Coldest Night Of The Year fundraiser is being held on Saturday, Feb. 24 at Bud Miller Park. Currently, the Men’s Shelter has raised $18,640 towards its $20,000 goal. There are 50 registered walkers and nine teams. People can come as individuals to provide support or register to walk, fundraise, or volunteer.

“The initial amount of money is about making sure that every step we take is the right step and will lead to a larger success for our organization and all of Lloydminster,” says Davison.

Participants will walk and can reflect on the challenges facing the unhoused, especially in sub-zero temperatures.

Check-in for the event begins at 4:00 p.m. at the PSM Park Centre building in Bud Miller Park. The walk goes from 5:00-6:00 p.m. and ends with a hot meal.

Participants are encouraged to pre-register, but organizers will register up to the start.

“It’s a walk around Bud Miller. We will all be there to answer questions. There will be some food and drink and just people out to support the charity.”

The weather forecast for Saturday indicates sunny conditions with a daytime high of minus one.

The real estate market has been changing here in Lloydminster, and it’s common for potential buyers to feel concerned and challenged by these changes. 

But rather than shying away from buying a home in this kind of market, it’s even more important to think about the long-term benefits of homeownership! 

Consider some of the people in your life who purchased their homes 5, 10, or even 15 years ago. Chances are high that they don’t regret buying their homes. In fact, they’re probably proud to be homeowners and are happy with their investment in real estate. 

This is because real estate nearly always appreciates in value over time. This means that buying a home will allow your investment to grow in value and increase your personal wealth as a result. 

In addition to appreciating over time, you’ll be building equity over time as you pay into your mortgage as a homeowner. This is a long-term benefit of homeownership that directly translates into more profit and cash in your pocket when you sell your home down the line. 

While owning a home provides some incredible short-term benefits like a safe, stable place to live, the best of real estate is all in the long-term benefits. 

When you rent housing, you don’t get the investment potential or equity growth that makes owning real estate such a smart financial decision. Instead, your monthly rent payment goes straight to your landlord–you never see that money again. 

But when you own a home, you’re building equity with your monthly mortgage payments, and you get that money back when you sell your home. 

The market may feel challenging today, but becoming a homeowner brings those long-term benefits that are unparalleled. 

If you’re questioning if it makes sense to buy a home today, remember the incredible long-term benefits that come with owning a home. Let’s start the conversation today–Feel free to reach out!

Harpreet Christie
RE/MAX of Lloydminster
780-205-7654
harpreet@bordercityrealestate.com

What better way to make fun summer memories than by moving into a beautiful new home with your family?

If you’re wanting to spend the summer enjoying a home you love with your family, just follow this schedule!

February: Connect with your agent. Now is the time to get your agent lined up and get a home search plan put together. If you don’t have an agent in mind, start getting referrals and talk with at least 3 agents. This will help you get a feel for the different styles out there and find the agent that works best for you!

March: Focus on finances. Once you connect your agent, you’ll start prepping your finances and shop around for mortgages. In this month, make your budget and get all your financial documents pulled together so you can easily submit pre-approval paperwork to lenders. Once you’re pre-approved, you’ll be able to start the next step.

April: Start the search! With your agent secured and pre-approval in hand, you’ll be starting house hunting in April. Your agent will help you identify the best neighborhoods, review listings, and attend showings and open houses. The best thing to do in this month is to keep an open mind–you might see homes that you never would have expected to love but they might just be perfect for you!

May: Negotiate offer terms. By the end of May, you’ll be in the negotiation process with the sellers. Your agent will help you make an irresistible offer that sellers can’t ignore. Then you’ll negotiate on the offer terms with the sellers to make sure that you get the best deal possible.

June: Close and get your keys! The closing process typically takes a few weeks. You can spend this time packing up your current home and getting ready for a fantastic summer in your brand new home!

In just 5 short months, you can be in a new home, ready to make a summer’s worth of happy memories with your family and loved ones.

Ready to get started? Let’s Chat!

Harpreet Christie
RE/MAX of Lloydminster
780-205-7654
harpreet@bordercityrealestate.com

Most buyers would love to have a more affordable mortgage payment. Cutting costs on your mortgage can translate to getting your mortgage paid off earlier and saving money on interest, resulting in paying less for your mortgage overall. 

But when you’re crunching the numbers for your home buying budget and getting pre-approved, it can feel challenging with all the different loan options and tricks. 

With these 4 tips, you can make your mortgage more affordable and save money on your mortgage payment. 

Tip 1 - Refinance Your Loan: A loan refinance replaces your old mortgage with a new mortgage. Your new mortgage will have a different principal amount and interest rate. This results in a lower monthly payment. If you have a high interest rate, a refinance is a super smart way to decrease the amount you pay in interest and save on your mortgage payments. 

Tip 2 - Consider Bi-Weekly Payment Plan: This tactic adds one extra month’s payment that’s applied to your mortgage principal. This can help shave years off your mortgage since you’ll be paying off the mortgage more quickly. As a result, you’ll save thousands on interest by the end of your loan. 

Saving money on your mortgage means you can use that money for other things. These tips will help you save money on your home mortgage so you can save the money for a down payment or use it on something like home renovations! 

Want to talk more about mortgages and how to save? Feel free to contact me so we can discuss more.

Harpreet Christie
RE/MAX of Lloydminster
780-205-7654
harpreet@bordercityrealestate.com