Edmonton Real Estate Sales Watch

17 Responses to “Edmonton Real Estate Sales Watch”

1. Jason 30. Jun, 2009 at 2:29 pm #

   A little excited about this are we?
2. mike 30. Jun, 2009 at 4:57 pm #

   Three words: Dead Cat Bounce
3. CatinTheHat 30. Jun, 2009 at 5:05 pm #

   It’s a record, why shouldn’t he be excited? Would you have predicted a record sales month in Edmonton with all the doom and gloomers about?
4. CatinTheHat 30. Jun, 2009 at 5:07 pm #

   Enjoy any good times while they last…otherwise you might just miss out on living.
5. jamesm 30. Jun, 2009 at 5:07 pm #

   There more words: Facts Not Opinions.
6. Alberta boom 30. Jun, 2009 at 5:50 pm #

   I am so exited that i can hardly sleep at night.
   It seems like forever since the last good result. Edmontonians now can rejoice and spend spend spend again. So let the good time rolls.
7. ken 30. Jun, 2009 at 6:51 pm #

   It’s great news, except if you bought an Edmonton area property within the past 2 1/2 years and need to sell today. The stats are showing an increase in sales, but after paying 6 or 7% commission, you’ll still have a tough time breaking even.

   Hopefully the good sales is a sign that the price trend has reversed. It sure adds to consumer confidence when home prices are stable.
8. Spence 01. Jul, 2009 at 8:59 am #

   This spring is definitely the time to get out and sell if you need to. If you are buying don’t expect your equity to grow as it did in years past. I have built and sold 6 homes since 2004. I made $500 dollars on the last one after paying my Realtor fees (around $14,000). I wouldn’t touch real estate as an investment at the current time. Prices will continue on their downward trend in the fall. If you are buying right now because you can comfortably afford it and have found the absolute right place for you, congrats. If you are buying because you don’t want to miss out, there will be better buying opportunities in the future. The interest rates will be higher, but there will be serious drops in principle. Just my 2 cents. I am not a real estate expert, although I did take the Realtor licensing course and I have been in the new home building industry for the last 6 years. Like I have said before, I am glad the inventory is being eaten up. I just hope the 2000+ buyers have done their due diligence and aren’t being duped by sales tactics. I just found out that a girl in my med class took the plunge last week. She hopes to be able to pay off her student loans with the increase in equity as the condo appreciates over the next few years. Not going to happen. At least she will be able to pay her mortgage though……..well as long as this severe health care deficit doesn’t turn into a major crisis. Interesting times we live in.
9. CatinTheHat 01. Jul, 2009 at 11:19 am #

   Could somebody explain to me how with a $70.00 U.S. Oil Barrel (approx. $80.00 Can.) we are having deficit problems? Is it because we have given our resources to large American/Chinese companies and here we sit with nothing? We must congratulate our Tory Governments for their great negotiating sklls on behalf of all Albertans over the last 40 years.
   Alberta should have it’s own oil company for the people. This is a non renewable resource which can’t do anything but make money when manage correctly. Why give it away?

   It’s amazing how our government can’t manage a surplus with $1.00 per litre at the pump, your inflated property taxes, 30% of your cheque, then tax on virtually everything you purchase with your already taxed money…not to mention gst…capital gains etc. What in the Heck are they doing?
10. Another Fred 01. Jul, 2009 at 1:13 pm #

    It’s because we actually make very little in terms of royalties off oil. Most of our royalty money has historically come from natural gas. Now that natural gas is in the basement, still in the $3 to $4 range, we are in trouble. Oil may drive Alberta’s economy, but it has always been natural gas royalties that funded the government budget. With natural gas prices in the tank and likely to stay there, expect very tough times ahead for the provincial government, regardless of what happens to oil prices.
11. carllecat 01. Jul, 2009 at 4:21 pm #

    Why don’t we just kick the foreign companies out of here and nationalize our energy? I am sooo amazed to see how we let foreigners take control of our natural resources and destiny AND we do not say a word about it. When we talk about raising the royalties, we get threaten by these foreign companies and blah blah blah!

    Denmark understood the game; the Oil & Gas resource was nationalized and the citizens all receive a public pension from a fund created on the profits made with Oil and Gas…

    Canadians and especially Albertans are nice people… but sometimes way to nice!
12. Another Fred 01. Jul, 2009 at 8:05 pm #

    Can’t really argue with you there. Oil companies will claim there’s very little money to be made after the rapid escalation in costs of both labour and materials in the past few years, so there isn’t room to raise royalties much more… but if you nationalized everything, then you don’t have to tinker with royalty rates at all. every single dollar of profit goes back into the pockets of all albertans. Makes sense, but this province is way too redneck to ever go for that one…
13. mike 01. Jul, 2009 at 11:39 pm #

    Your logic and insight Spence is some of the most reasonable on this site I’ve seen in the last year. The “record sales” are nothing more than the result of ridiculously low interest rates – nothing more. I had two mortgages to pay for and now only have one. Using the equity from the home sold I paid down my first mtg and will negotiate a lower rate. I certainly dont anticipate these prices being sustainable over the long run – especially when interest rates start rising again…then watch.
14. mc 02. Jul, 2009 at 12:52 pm #

    “When we talk about raising the royalties, we get threaten by these foreign companies ”

    I also heard alot of whining from Albertans when the issue of raising royalties was on the decision table, many Albertans did not want it!
15. carllecat 02. Jul, 2009 at 1:08 pm #

    Not many Albertans my friend, but many Rig Workers.
16. Sam 02. Jul, 2009 at 3:34 pm #

    Mostly out of province workers were doing the griping as they like to come here, work and then go home, we need higher royalties here for Albertans, our gas and oil is not for others to exploit.
17. carllecat 02. Jul, 2009 at 3:57 pm #

    AMEN!