TIGHT REAL ESTATE MARKET IN SASKATOON

TIGHT REAL ESTATE MARKET IN SASKATOON

 Not Under The Pine Press - January 2013

It is not all that well known, but, it is a tight real estate market for those looking for a move-in-ready $100 million plus house, with acreage and a helipad, in the Saskatoon area. As found out by new money, and new resident, Mr. Bloom.

Mr. Bloom has recently sold a large plot of land in Northern Alberta to an unnamed oil firm for an undisclosed amount (which Bloom has hinted in the hundreds of millions) and has decided to move closer to family in the Saskatoon area.

His search for suitable housing has been unsuccessful so far.

"I don't think I'm being unreasonable," Mr. Bloom claims, "and my real estate agent agrees - she just keeps telling me it is a tight market right now."

Bloom is currently crashing on a friend's futon in a small midtown apartment. Bloom explains the situation, "you really hate to rent a place and risk losing that first & last month's rent. Especially considering my initial expectations when I came to town - a week, maybe two 's what I told him." 

That was three months ago.

Bloom has already lost out on two bidding wars.

The lack of supply in the $100 million plus market has made Bloom widen his search. "I'm even willing to look into the single digit million market if need be." However, Bloom is holding out for the time being explaining that, "these properties tend to be lacking helipads...and I just don't want to have to put one of those things in. You never make that money back."

Bloom's futon loaning friend has given him one more week, then if not successful, it is on to family. "Ya, I have a sister in town, but, she has kids and a cat. I'd hate to disturb the cat."

- 3:15pm | Saskatchewan | NUTPP