sell or buy in saskatoon

[johnson822]

Hi everyone,

This is my first post since I joined the forum. I have a problem need your help.

Now I live in Saskatoon. Last early spring I bought two properties. One is for renting and other for living myself. According to the plan, I would sell the two houses in six months, but now the market is so slow.

Now I don’t know how to do. If holding the houses I worry the market continue slow and the profit become less. But on the other hand, I also want to buy another property in Saskatoon, I think maybe it’s a opportunity.

Need your any advice. Thank you so much.

johnson

 

[Anonymous]

I too own properties in Saskatoon. When we had purchased ours (3 and a half to one and a half years ago) we had a buy and hold strategy. Given the prices at that time they were in a very strong positive cash flow position. Given our rent increases they are even moreso now. With the market here, I don`t know what property you could find that would positive cash flow right now (this is our number one priority). We are looking for more property but can`t given even our slightly reducee prices. With your situation I would take a more longer term outlook (especially if your current property is + cash flow). I would not be buying here right now. The only thing that might cash flow is in a part of town I would not want to own, or a larger multiunit. (I have looked at those as well and even those don`t cash flow). Re examine your goals and objectives, continue to rent, hold on for the longer term, and don`t buy anything unless it is coming close to + cash flow.
In my opinion at least.

Maurice

 

[DonCampbell]

I think that you had better take a VERY CLOSE look at the latest Conference Board of Canada`s financial projections for the province.

Not as pretty as we would like to see (especially on economic growth and population growth between now and 2011)

Due diligence that removes emotions at this point will be your friend.