I was wondering if anyone has tried investing or buying in Edmonton, Alberta this year. I find it very difficult to get past the first filter even using 8-10%. Perhaps this is not the correct time / season for investing in Edmonton. Any thoughts towards this subject would greatly be appreciated. thanx
realestate investing in edmonton alberta for mar 2008
- Thread starter mbkal
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QUOTE (mbkal @ Mar 4 2008, 04:28 PM) I was wondering if anyone has tried investing or buying in Edmonton, Alberta this year. I find it very difficult to get past the first filter even using 8-10%. Perhaps this is not the correct time / season for investing in Edmonton. Any thoughts towards this subject would greatly be appreciated. thanx
I`m not sure what you`ve been using to look for market rents on the propeties you have been analysing but you may want to try out this great site I just found http://www.rentometer.com/ca. It gives you low, high and median rents for a specific area of a city based on know results in the area. I`m not sure if more accurate results of Rent comparible will help your research but it couldn`t hurt.
Other than that Edmonton will be recieving a glut of properties in the next 2 months as sellers prep for list as the weather warms up. And even though more buyers will stumble out of the woodwork they tend to dissapear in the peak summer for vacations and such. As of right now do to the supply and longer average days on market you can find yourself alot more motivated sellers who have carrying costs on 2 properties cause they can`t sell one. This opens up some opportunites for more creative deals such as seller financing options.
Not sure if this is what you are looking for but I hope it Helps!
Cheers
I`m not sure what you`ve been using to look for market rents on the propeties you have been analysing but you may want to try out this great site I just found http://www.rentometer.com/ca. It gives you low, high and median rents for a specific area of a city based on know results in the area. I`m not sure if more accurate results of Rent comparible will help your research but it couldn`t hurt.
Other than that Edmonton will be recieving a glut of properties in the next 2 months as sellers prep for list as the weather warms up. And even though more buyers will stumble out of the woodwork they tend to dissapear in the peak summer for vacations and such. As of right now do to the supply and longer average days on market you can find yourself alot more motivated sellers who have carrying costs on 2 properties cause they can`t sell one. This opens up some opportunites for more creative deals such as seller financing options.
Not sure if this is what you are looking for but I hope it Helps!
Cheers
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QUOTE (mbkal @ Mar 4 2008, 03:28 PM) I was wondering if anyone has tried investing or buying in Edmonton, Alberta this year. I find it very difficult to get past the first filter even using 8-10%. Perhaps this is not the correct time / season for investing in Edmonton. Any thoughts towards this subject would greatly be appreciated. thanx
The Edmonton market has moved up over 50% in the last 2 years .. and now has dropped 10-20% .. and probably flat right now .. and yes, it takes a LOT longer to sell .. so yes, IF you can find a motivated seller at the right price it still makes sense to buy (try any property at 10% below list ..) .. in-migration has slowed down QUITE A BIT .. and with prices this high do NOT expect those huge easy gains we`ve seen between 1997 and 2006 .. still decent going forward but not spectacular ..
The Edmonton market has moved up over 50% in the last 2 years .. and now has dropped 10-20% .. and probably flat right now .. and yes, it takes a LOT longer to sell .. so yes, IF you can find a motivated seller at the right price it still makes sense to buy (try any property at 10% below list ..) .. in-migration has slowed down QUITE A BIT .. and with prices this high do NOT expect those huge easy gains we`ve seen between 1997 and 2006 .. still decent going forward but not spectacular ..