Monday, May 14, 2007

From #1 to #213

We hear this all the time.

Client: "I found a great house on the MLS for $100,000!"
GSI: "Oh, yeah That seems really cheap?!" What are the comparables?"
Client: "Don't know but it is cheap so I want it."

Of course there are more factors to investing in real estate than "Location, Location, Location" but it sure plays big in house prices and how good of an investment choice you have made.

This article from the Edmonton Journal lists the 213 neighbourhoods in Edmonton for their overall quality-of-life .

"... a wide-ranging study that looks at everything from the number of single parents to the condition of city streets, the city has amassed a huge pile of data, and a corresponding quality-of-life ranking, on 213 Edmonton neighbourhoods."

The worst was Alberta Ave and the best Henderson Estates. This doesn't mean you should rush out and buy properties in Henderson Estates nor that you should completely avoid Alberta Ave either. Each house is unique and in a city bursting at it's seams gentrification of neighbourhoods is a very likely next step.

Measures Used:

- Number of child welfare cases

- Number of single-parent families

- Number of people who have moved in past year

- Percentage of hospital ER visits

- Rate of hospitalization

- Number of property crimes

- Number of violent crimes

- Number of youth crimes

- Percentage of adults with less than Grade 9

- School transiency rates

- Number of dwellings needing major repairs

- Percentage of dwellings that are rented

- Number of households paying more than 30 per cent of their income on shelter

- Number of households with low income

- Percentage of adult unemployed

- Percentage of food bank users

- Number of welfare recipients

- Number of hectares of parkland

- Condition of playgrounds

- Condition of sidewalk and roadway

For A Look At The Full Article Click Here