Edmonton Real Estate Investor: Canadian Business Magazine

Scott Steele interviews the magazine's features editor Andy Holloway. Generally they're saying it is a good time to buy if you think for the long term. Andy suggests that if you buy now then be prepared for the prices to drop over the next 6 months. This may be true in some areas but not necessarily all. It's a very generalized interview but the key points are true for any region.

Other points:
1. Houses are safer than stocks. Stocks have dropped about 43% and housing about 11%
2. Now is not the time to sell, unless you bought 10 years ago. (Long term is ok)
3. It's a good time to buy rates and prices are low.
4. Canada is not facing a sub-prime meltdown.
5. Some depreciation in commercial markets in Calgary an Toronto.
6. Real estate investing is based on simple economics - in- migration, growth, economic potential of a city. Edmonton has all three.

Somewhere, someone is saying, "I told you so" because Edmonton Real Estate prices dropped over the last three weeks. Keep in mind the market has doubled over the past two years. Edmonton real estate skeptics aren't in for the last laugh yet, because the market isn't falling just softening, a little.

The market is less frenzied and we can say goodbye to multiple offers and offers with out conditions - a very dangerous practice. Buying houses without inspections is a good way to purchase someone else's headache and moneypit.

"Edmonton buyers were getting used to bidding wars and buying homes without inspections, but today buyers have more choice." READ MORE

If you are an investor now is the perfect time to get into the market before the next big rise in prices.

It`s over! It`s over! I hear this all the time... Is Edmonton`s run over? NO. Canadian Business Magazine agrees with me. They published an article today that quite clearly states the Edmonton is NUMBER 1 in Canada and it`s not just because of the oil.

"HOT: Edmonton
With a one-year average price increase of 10%, the oil city is Canada's only major market that has a trifecta of strong demand, tight supply and affordability. And it's not only because of the oil and gas boom." Canadian Business Magazine

Trifecta, I have always associated that with the dark side but let me reassure there is nothing evil about the profits our partner are seeing in this incredible market. Since the beginning of 2007 Edmonton prices have increased 105, a pretty good return for 3 months.