Buying a condo in Fort Mac

[polywave]

Hi, I`m new to the game and am working in Fort Mac. can anyone tell me if it`s still a good idea to invest in fort Mac or is the market overevaluated?

Any advice is greatly appreciated.

 

[gordmielke]

QUOTE (polywave @ Apr 1 2008, 09:34 AM) Hi, I`m new to the game and am working in Fort Mac. can anyone tell me if it`s still a good idea to invest in fort Mac or is the market overevaluated?

Any advice is greatly appreciated. Unless you think the Oil Sands is going to shutdown, quit expanding or the price of Oil is going to drop back to $50/bbl, then I would continue buying. Gordon

 

[SamEfford]

Fort McMurray is one of the few areas where the market did not slow down nor did the rents drop this winter. I have raised my rents and continued to buy more property in Fort McMurray and can see the equity appreciation almost monthly.

As noted in a seperate thread by Peter Kinch`s team, QUOTE (CanadianMortgageTeam @ Mar 31 2008, 02:29 PM) Fort McMurray has great cashflow! Its one of the few places we`ve been able to arrange high ratio mortgages and still be able to cashflow.

If you have any questions, just let me know.

 

[polywave]

QUOTE (SamEfford @ Apr 3 2008, 12:46 PM) Fort McMurray is one of the few areas where the market did not slow down nor did the rents drop this winter. I have raised my rents and continued to buy more property in Fort McMurray and can see the equity appreciation almost monthly.

As noted in a seperate thread by Peter Kinch`s team,

If you have any questions, just let me know.

Hi Sam what do you think of Eagles Ridge? Somewhat affordable but profits are capped.
Also are you in fort mac? If so do you know a good real state agent?

Thanks

 

[oilersrule]

Hey Im a new REIN Member and live in Fort Mac , as for Eagle Ridge there is so really strict rules that the properties cannot be used as rentals.

QUOTE (polywave @ Apr 3 2008, 07:33 PM) Hi Sam what do you think of Eagles Ridge? Somewhat affordable but profits are capped.
Also are you in fort mac? If so do you know a good real state agent?

Thanks

 

[SamEfford]

I have not looked to Eagle Ridge at all yet. Waiting for some more houses to be built so less mud and construction traffic. I am unsure about the rules to renting. How are the rules stated? Restrictive covenant, buyer`s intention affidavit?

 

[tamrahunt]

[quote name=`polywave` date=`Apr 3 2008, 08:33 PM` post=`15954`]
Hi Sam what do you think of Eagles Ridge? Somewhat affordable but profits are capped.
Also are you in fort mac? If so do you know a good real state agent?

Hello polywave,

I am a REIN member, investor and real estate agent in Fort Mcmurray. I would be happy to help or answer any of your questions about the market in this area. Call me at your convenience - (780) 713 1913 Tamra Hunt @ Royal Lepage in Fort Mcmurray