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CMHC’s Latest Housing Market Assessment Report

Fri, 28 Oct by Pauline Relkey

If you are wondering about the latest report that came out from Canada Mortgage and Housing Corporation (CMHC) see the info below that we Realtors in Regina received from our Regina Real Estate Association’s Executive Officer.


We believe as an Association that it is imperative members understand the latest HMA report, as this will likely cause negative news articles outlining both Regina and Canada’s housing markets. We strive to keep you informed, and to ensure that you are able to answer questions appropriately that may arise from your clients in the near future.

Once again the Regina housing market is classfied as having “problematic conditions” in CMHC’s (Canada Mortgage Housing Corporation) 4th quarter HMA (Housing Market Assessment) released this morning.

It is important to note that the HMA is an analysis of past data, and not a forecast or projection for Regina’s housing market.

The HMA has four factors that are taken into consideration when determining market conditions:

  1. Overheating
  2. Acceleration in House Prices
  3. Overvaluation
  4. Overbuilding

The main data point with “overvaluation” in Regina that is misleading, is that CMHC uses the average MLS® sales price. This is a flawed approach to determining overvaluation, because if there are a few higher priced properties sold on MLS®, it increases the average MLS® sales price drastically.

The Association has urged CMHC to change its approach to determing overvaluation by also using the MLS® Home Price Index (HPI) – a much more accurate measure of housing price trends than average or median price. These efforts have not gone unnoticed, CMHC announced today that they will investigate and seriously consider using HPI in early 2017.

Another critical piece of data skewed by CMHC is overbuilding. Overbuilding is detected when the supply of readily available housing units significantly exceeds demand. One of the data points used to determine “overbuilding” is the rental vacancy rate. This is problematic, as CMHC’s publishing the 4th quarter HMA on October, 26, 2016 using Regina’s 2015 vacancy rate.

In addition to classifying Regina’s market as problematic, CMHC also issued its first “red” warning for the Canadian housing market as a whole.

CREA (Canadian Real Estate Association) has also expressed serious concerns with CMHC’s HMA since it was first published in November 2014 for two reasons:

CMHC does not and will not provide important technical details about how it reaches its conclusions; and
CMHC’s conclusions don’t differentiate between housing types (e.g. single family, condo apartment units), price ranges or neighbourhoods within a market.
Hopefully this will help help with understanding this report and responding to questions you may receive.

If you have any questions regarding the CMHC analysis report, please contact Gord Archibald at 306.791.2705.

View Regina’s Housing Market Assessment here.

View the National Housing Market Assessment here.


Don’t all Realtors do the same thing?

Tue, 25 Oct by Pauline Relkey

Yes and no.

I was crushed when one of my very nice past clients said this to me recently. She had asked about the going commission rates and was checking around with other agents and companies before she and her spouse listed a property of theirs for sale. I know to never assume anything, but hearing this come from a past client of mine who had dealt with me a couple times and referred people to me to buy and sell, was still a shock to me.  I guess I shouldn’t assume because someone has dealt with me, that they will automatically deal with me over and over.  I really try to give my loyalty to businesses that treat me well and to also send them other business because I am grateful for great service and I hope that people will do the same for me.

Yes I think it is wise to check around and get 2 to 3 quotes for any ‘big’ job such as renovating, selling or buying a property, landscaping, etc, so that you feel good about your decision. But I firmly believe you tend to get what you pay for.

And yet this conversation made me think about the subject – don’t we do the same thing?

Yes – when you list a property for sale, the object is to get the property sold so agents really do the same thing. BUT how we do it is another thing.

Does your agent SHOW you, in writing, listings and sales in your area so that you feel comfortable knowing what is going on in your particular neighbourhood and how your property will compare with others? Does your agent take the time to give you advice on how to best get your home ready for sale or accept it in ‘as is’ condition and not say anything? You don’t have to do anything if you don’t want to when it comes to repairs or staging or cleaning, but most sellers tend to want to get as much on the price as they can, and doing some of these things will tend to help you get that better price.

Does your agent have a list of tried and true contacts to share with you, whether it is a painter, a real estate lawyer, mortgage broker or a landscaper? Over 25 years I have collected and maintained such a list that comes in handy for me and my clients. These are people and businesses that have helped either me or my clients with a job and because they did a great job, they now come highly recommended and the list is continually updated because things change.

Does your agent tell you what he/she is going to do to sell your property BEFOREHAND and actually do what they promised? It’s easy to make promises, but it’s another story when it comes to carrying them out.  Where will your property be advertised? How many pictures will there be online for buyers to look at? Where do most of sales come from and is that where your property will be advertised?

Does your agent take the listing for your property, then not contact you for days, weeks and even months? Or are you kept in the loop by phone calls, texts and/or emails keeping you informed (telling you what the showing feedback is, how many inquiries have come in about your property and from where, suggestions on what to do with the property to make it appeal to buyers, what not to do when your property is listed such as staying in the property during a showing, sharing details about why you are selling, where you are moving, etc – anything that could hurt your chances for a sale).

Does your agent share their past records of their sales to show you what they have done? Or do they just tell you they are successful?

Is your agent willing to share references with you so that you can call them to ask about their experience with this agent?

Does your agent stay up to date with training and education or get their license and only do the bare minimum to stay licensed?

Does your agent discuss things like alarm systems, home insurance, rentals in the property (furnace, water heater, water softener, etc) and how to best handle these things or are you left alone to figure this out?

Does your agent show you statistics on how she/he compares to the average agent? or do you even care?

Does your agent explain the commission (rate, how it is divided, how you compare to other listings, etc)?

Does your agent take the time to listen to you, ask questions as to what you have enjoyed about this property, know where to find buyers for your property?

Does your agent get as much info ahead of time so that you aren’t rushed later (surveyors certificate/real property report, tax bill, utility bills, pictures of the property, real estate lawyer, mortgage info, etc)?

Does your agent show you stats on what works to sell a property and what is fluff?

Is your agent honest in pricing your house or an order taker who just agrees with you to take the listing?

Is your agent up to date on the latest CMHC changes, interest rates, home buyer plans?

Let me tell you about my ‘getting what you pay for’ story that happened years ago.

I questioned why I was paying so much for a haircut or color at my regular hairdresser’s shop.  I liked her.  She seemed to know what she was doing.  She always had suggestions on what was in style, what cut would look good on me, hints on how to style it myself, etc.

But I wanted to be the wise shopper and decided to get a haircut at one of those less expensive places.  So I walked into the place of business.  The business is nowhere to be found today, so that is hint number 1.  I asked for a haircut and was politely greeted and told to sit in the chair and the lady started cutting my hair.  I was surprised that she didn’t have me sit at the sink to get my hair washed first.  I questioned her about this and she said “for another $2 or $3 she could wash it.”

“Yes please” I said.  So she washed my hair.  Then she told me to go sit in her chair again.  I asked her if she was going to use any conditioner. She said that if I wanted some, that would be a few dollars more.  “Yes please” I said.

Now we were at the cutting hair part.  She cut my hair, then said “we’re done.”  I was sitting there with a haircut but still with wet hair.  “Aren’t you going to blow dry my hair?” I questioned.

“Sure” she said “for more cost.”

“Yes please” was becoming my saying at this point.

Then she said “you’re done” after she blow dried my hair.

“Aren’t you going to style it?” I questioned.

“If you want it styled, that will be more cost”, she said.

Here we go  with “yes please” again.

So after all that, I learnt that yes you can usually get things gone cheaper, but do your homework and find out exactly what is included and what isn’t included.  Sometimes that big savings turns out to not be a savings after all.

Realty Executives History

Tue, 25 Oct by Pauline Relkey

Some of you have asked about the company I chose to move to in 2014.  Well, here is the history below about Realty Executives.  Yes, we are on the MLS (Multiple Listing Service). Yes, I still provide the same service as before. Yes, it’s a great company or else I wouldn’t have moved here.

1965 – a real estate professional named Dale Rector was about to transform the real estate industry. He launched Realty Executives with 1 office in Scottsdale, Arizona. Agents were charged a $35 monthly fee plus a share of expenses. The company started with 4 agents. Dale Rector acted as designated broker for Realty Executives Phoenix. The concept, designed to provide the maximum benefit to the most productive, experienced and effective real estate agents, birthed the first ever 100% commission real estate company – Realty Executives.
(Century 21 was founded in 1971, Remax in 1973).

1970 – Realty Executives has 100 agents in Phoenix area.

1972 – Realty Executives becomes the No. 1 Phoenix brokerage.

1973 – Realty Executives opens in Tucson, the company’s first expansion office outside of the
Phoenix area. This expansion marks the company’s first official franchise.

1974 – Realty Executives Phoenix tops $100 million in sales for the first time.

1976 – Realty Executives expands to California with a franchise in Oceanside. By the end of the year, the company has offices in Arizona, California, Colorado, Florida, Iowa, Nebraska, Oklahoma, Pennsylvania, Texas, Wisconsin and Utah.

1980 – Rich Rector becomes president of Realty Executives Phoenix and chairman of the franchise company, which was named Execu*Systems, Inc. at the time.

1984 – Rich and his wife, Robyn, purchase the real estate franchise company (Execu*Systems, Inc.) from R. Dale Rector.

1988 – Realty Executives International obtains its first Canadian franchise. (Century 21 in 76 and Remax in 77) .

1994 – Realty Executives International experiences a record year of franchise growth adding more than 100 new franchises and more than doubling the previous record of 43 new franchises sold in 1993.

1994 – Realty Executives ranks 54th in Success magazine’s list of the 100 best franchise companies in America. Realty Executives International sells franchising rights to establish Realty Executives in Mexico and South Africa.

1997 – Realty Executives forms Homes from the Heart as its corporate charitable program, building and renovating homes for needy families across the system, largely in partnership with Habitat for Humanity International.

1999 – Realty Executives International ranks 27th in Success magazine’s annual list of the top 100 franchise companies in the United States.

2001 – Realty Executives International opens first offices in Mexico. The 3 new offices are located in the cities of Chihuahua, Lake Chapala and Ensenada.

2002 – Realty Executives continues its aggressive international expansion, with the opening of offices in Australia and Israel.

2003 – R. Dale Rector honored as one of the top 25 Most Influential People in Real Estate by REALTOR magazine.

2004 – Realty Executives ranks in Entrepreneur magazine as one of the “Fastest Growing Franchises.”

2006 – “Fastest Growing Franchises.” Realty Executives rolls out HomeWorks, a national marketing initiative designed to help teachers and others in the education field purchase homes.

2008 – Expansive growth in Central America includes Costa Rica, Panama, Nicaragua and Belize.

2010 – Realty Executives International expands rapidly on the global level. New international territories include Turkey, Saudi Arabia, Qatar, United Arab Emirates, Oman, Dominican Republic, Bahrain and Kuwait.

2012 – New international franchises in Lebanon, Jordan and Egypt.

2013 – Rich Rector announced as the Recipient of National Homeownership Award.

2013 – Realty Executives International Ranked #276 amongst All Franchise Companies by Entrepreneur magazine’s 2013 Franchise 500® List.

2013 – New international master franchisor in Malaysia.

2014 – Rich Rector named #30 on the Swanepoel Power 200 List of Influential Real Estate Leaders.

2014 – Realty Executives International Ranks #6 on the Phoenix Business Journal’s list of Top Franchisors.

2015 Realty Executives International is located in 32 countries with over 10,000 agents worldwide.

Revolutionary thinking is what made Realty Executives different from the competition in 1965, and continues to make us different today. Sophisticated technology platforms, relevant training and world-class brand recognition awards and attracts the best agents in the real estate industry to become “Executives”. Our culture frees agents to focus on what matters most – providing the best service to clients in any market.

Our progress in today’s real estate market puts the consumer experience first. Well-informed, steeped in technology and always on the go, consumers start their real estate searches online over 90% of the time, with 68% of home shoppers utilizing mobile applications throughout their research. It comes as no surprise – over the past 4 years, real estate related searches on Google have grown by 253%.

Realty Executives embraces these changes, placing technology, marketing and training initiatives first so that agents and brokers throughout our expansive network can meet the needs of clients today and tomorrow.


Autumn Checklist

Tue, 18 Oct by Pauline Relkey

Love those leaves
Instead of thinking that the fallen leaves are nothing but a nuisance involving hours of raking and bagging, spread the leaves over soil so the worms can work their fertilizer magic. Plus pile them under shrubs and trees for additional winter root insulation.


Protect a tree
You love those shrubs and trees that you have in your yard so wrap them, especially the newly planted ones, with burlap to protect them from the harsh elements and the drying winter sun and wind.


Inspect eaves troughs
Once most of the leaves have fallen off the trees, give gutters and eaves troughs a thorough cleaning to prevent water and ice build-up. Maybe consider putting a leaf guard on the eaves troughs.


Plant a spring delight
Planting spring bulbs in the garden during the fall will ensure a pop of color in the ground come spring. Bulbs can be planted right up until the ground freezes.


Hire a chimney sweep
It won’t be long until we start using our fireplaces. I have already turned ours on a couple times this past month. Wood-burning fireplaces, in particular, require annual maintenance. Hire a professional to clean and inspect fireplaces, dampers and chimneys.  Maybe you’ll get the famous Dick Van Dyke to check them!


Furnace and ducts cleaned
Before turning on the furnace, call the professionals to clean and inspect it. Furnace filters should be changed every couple of months so keep a stockpile of them handy. Have your home’s heating ducts cleaned to ensure optimal air and heat flow.


Track the drafts
Batten down the hatches and keep the chill out by inspecting windows and doors for drafts. Replace old and rotting weatherstripping around the frames to prevent heat loss and water leaks.


Recycling Week in Regina

Mon, 17 Oct by Pauline Relkey

Always a good reminder to learn something new about recycling.

October 17-23 is Waste Reduction Week. Play for a chance to win a free year of recycling! Have fun while learning recycling tips & tricks to reduce household waste. Visit for full contest details.

recycle reduce reuse

New mortgage rules Oct 17, 2016

Tue, 04 Oct by Pauline Relkey

Buyers will have to qualify at a higher interest rate than what they might be getting with their new mortgage.

For  the complete article go to

interest rates

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Association of Saskatchewan REALTORS®.

MLS®, Multiple Listing Service®, and the associated logos are all registered certification marks owned by CREA and are used to identify real estate services provided by brokers and salespersons who are members of CREA. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.