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Saskatoon real estate: Rent-to-own options

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As interest rates rise and consumers feel the pressure of inflation, housing sales in Saskatoon are dropping, but there has been increased interest in rent-to-own options for would-be homeowners.

Saskatchewan Realtor’s Association CEO Chris Guérette said it wasn’t something they were tracking, but she believed the numbers were on the rise.

“We do know that anecdotally, these are services that are starting to enter our market, which is not surprising,” she told CTV News.

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“Anecdotally, they’ve been saying that they’ve received close to 500 applications since the month of June. So that obviously means that there are individuals out there that require other options to purchase their first home.”

Braveya Homes’ Joel Boschman said his company helps people qualify for mortgages.

“It’s sort of a newer option for people, but it’s a great option. We help people who have gone through divorce, possibly bankruptcy, people that are newcomers to Canada, and they may not have any credit history, or they may have bad credit,” he explained.

He said they help people get into a home before they can qualify for a bank mortgage.

Boschman said his company has helped 15 people and have been able to get seven of those to qualify for mortgages.

“There’s not specifically a qualification, other than they have to have a secure job, they have to have secure income, they have to have enough money for the deposit, which is held in trust, and that money goes towards the down payment on the house,” he said.

But it doesn’t stop there, Boschman said his company also helps people improve their financial literacy.

“We educate our clients on what they possibly may need to do in order to qualify for a mortgage from a lender. So we’re able to help people to maybe set a budget, a better budget in place to be able to save up more money. Maybe their credit isn’t where it should be, so we help them to clean up where they’re spending it, and what they may be able to do to increase their credit score,” he said.

Guérette said she agrees with prospective homeowners having more options.

“We know affordability is top of mind for not only everybody in the country, but in Saskatchewan as well. Even though some individuals may on paper, be capable of purchasing a house, sometimes they need a little bit of help to get their, their foot in the door,” Guérette said.

“I think having more options for individuals looking for homes is always something that we would think is beneficial to the market. More option just means that individuals who are maybe struggling to get into their first home will have more options to consider that may work for them. It may not work for everybody, but it may work for some.”

Boschman said it is vital that those considering rent-to-own services understand what is involved in home ownership.

“People have to be committed to being homeowners. This isn’t a rental option. This is a house purchasing option. So a lot of people think that it’s just a rental and we’re not in the rental business. We’re in the business of helping people to purchase homes,” he said.

“Being a homeowner is not cheap. There’s a lot of expenses in owning your own home, and people just have to be aware of those expenses.”

Guérette advised those considering rent-to-own options talk to someone who has experience in the real estate market.

“I think it’s always important before you embark on any new service is to trust your realtor, trust your lawyer, and those professionals that are around and that you can trust to make sure that those services that you do use are trustworthy, have a good track record, and that you’re embarking in something that you feel comfortable with,” she said.

“If it can get more people into homes in a very credible and trusted way, then that’s a really important service.”

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8Twelve Enters into Mortgage Solution Agreement with Your Home Sold Guaranteed Realty – Financial Post

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TORONTO, Jan. 30, 2023 (GLOBE NEWSWIRE) — 8Twelve Financial Technologies Inc. (“8Twelve” or the “Company”) is pleased to announce that it has entered into an agreement to provide mortgage solutions to Your Home Sold Guaranteed Realty (“YHSGR”), its agents and their clients.

8Twelve’s proprietary INFIN8 utilizes real-time analytics, AI, and workflow automation to identify the best possible mortgage from Canada’s largest marketplace of bank, alternative, and private mortgage products.

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At Your Home Sold Guaranteed Realty, we invest in our agents more than any brokerage you will find,” said Todd Walters, CEO and Co-Founder. “Partnering with 8Twelve fits our model perfectly because we consistently equip our agents with differentiating tools that help them to build their business and dominate in the industry. This partnership ensures that YHSRG realtors have the best tool to secure financing for their deals.”

YHSGR is the only real estate brokerage in North America to be licensed by the US and Canada’s #1 real estate Coach Craig Proctor. The distinction brings with it exclusive access to Craig Proctor’s proprietary business teachings and systems for YHSGR agents; systems that have been proven to create more millionaire agents than any other real estate trainer or coach.

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“With rising interest rates and tighter lending requirements, Canadians now more than ever need to know all their home financing options,” said Akber Abbas, President & Chief Information Officer of 8Twelve.  “This agreement highlights the strength of our service offering in enabling large scale enterprises to deliver the best financing solutions to their clients.”

8Twelve is seeing increased interest and user success in its offering as companies are exploring more ways to help their clients.  8Twelve’s secure, smart technology is able to provide fast turnarounds and exceptional service levels to homebuyers as it strives to provide a mortgage solution for every borrower situation.

About Your Home Sold Guaranteed Realty
Your Home Sold Guaranteed Realty was founded with this vision: To Be the Best Place to Work, Buy, and Sell Real Estate! We are proud to be one of the fastest-growing real estate companies nationwide. If you’re looking to buy or sell a home, Your Home Sold Guaranteed Realty is there for you every step of the way. You can count on knowledgeable agents with PERFORMANCE GUARANTEES that are ready to handle every situation, giving you the peace of mind that you made the perfect choice in a Real Estate Agent and Company!

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About 8Twelve Financial Technologies
8Twelve is transforming the home financing experience by providing consumers with one convenient platform to solve all their mortgage needs. Gone are the days of needing to search for a mortgage through multiple providers such as banks, mortgage brokers, and private lenders. Borrowers can now access Canada’s largest selection of mortgages in one convenient marketplace. 8Twelve’s proprietary cloud platform INFIN8 utilizes real-time analytics, AI, and workflow automation to identify the best possible financing solution in the Canadian market (from over 65 lenders and over 7000 mortgage products).

Follow 8Twelve on:
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Contact:
Rick McLaughlin
Email: rick@8twelve.mortgage 

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Saskatoon Real Estate: 6 most expensive house lisitngs | CTV News – CTV News Saskatoon

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Housing sales have been dropping in Saskatoon. However, sales are still higher than the 10-year-trend according to the Saskatchewan Realtors Association (SRA). For those searching for something a little above average, the Saskatoon market still has some of the top luxury homes to offer.

Here are six of the most expensive homes in the region.

 

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(Realtor.ca)

(Realtor.ca)

A four-bedroom, six-bathroom home in the Nutana neighbourhood. The property has direct access to the South Saskatchewan River and offers captivating views. Over four-thousand square feet spread over three levels, including a developed basement. It also has an in-ground pool, courtyard and a dock at the river’s edge. The open-concept kitchen contains a butler’s pantry, coupled with a formal living and dining room on the main floor.

 

(Point2Homes.ca)

 

(Point2Homes.ca)

A four-bedroom, three-bath luxury home overlooking the South Saskatchewan River. This property was custom created to make the most of the breathtaking view. It offers floor-to-ceiling windows, an ultra-private rear courtyard with a built-in cooking area, a basement that has a space for a live-in nanny suite and a home gym. It also has a unique high-heel style bathtub in the master bedroom. 

 

(Realtor.ca)

(Realtor.ca)

This five-bedroom, four-bathroom home offers views of the South Saskatchewan River. It is also automated, which means you can control elements through your phone, such as windows, temperature, surround sound, lighting and security system. There is also a four-car garage on the property, a second-flood deck and landscaping.

 

(Point2Homes.ca)

(Point2homes.ca)

A five-bedroom, seven-bathroom home that offers a lot of space and comes completely furnished, except for the piano. In the basement, there is a theatre room, powder room, and storage room. The main level features a powder room, pantry and kitchen with Miele appliances. In the yard, there is a ground-level patio and a triple garage that offers direct entry to the basement.

 

(Realtor.ca)

(Realtor.ca)

One of Saskatoon’s original mansions, this 5-bedroom, 4-bathroom home was designed by Frank P. Martin, a well-known architect from the 1900s. Renovations have kept the original plan while updating the wiring, plumbing and more. This home features a private rooftop patio, a third-floor self-contained suite that is separate from the rest of the home, and the original carriage house with a loft.

 

(Realtor.ca)

 

(Realtor.ca)

This four-bedroom, three-bathroom home was built in 1962 by George Kerr in the Mid-Century Modern Style. It includes a large art studio, a floating staircase, a 20-foot ceiling and floor-to-ceiling windows. It offers views of the green space in Grosvenor Park and is a short walk to the University of Saskatchewan.

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This Week’s Top Stories: Canadian Real Estate Prices Rise Sharply In Some Markets, BoC Sees Further Declines – Better Dwelling

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This Week’s Top Stories: Canadian Real Estate Prices Rise Sharply In Some Markets, BoC Sees Further Declines  Better Dwelling

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