edmonton real estate – Why Alberta, Canada, Why Now?
Wouldn’t it be terrific if you can eliminate opinions and misinformation in the real estate investing arena? Aren’t you glad that you can focus on what’s real and let others get caught up? The secret is…..focus on economic fundamentals, not emotions or hype. The Economist Magazine in 2005 cited the best place to invest in the world. These were ranked as follows:
1. Denmark
2. Canada
3. U. S. A. (tie)
4. Singapore (tie)
5. Hongkong (tie)
6. Netherlands
7. Finland
Canada is the new world leader in terms of population growth which is the 2nd fastest rate in the G8 countries and it is politically “stable.” Two assets the world will be needing are: oil and water which is the top 5 of least regulated. Canada is also a world economic leader. Why? It has the best debt to GDP ratio in the G7. It is the only country in the G7 to have a surplus compared to United States, United Kingdom, and Germany! It is creating full time jobs which are over 200,000 already in the first half of 2006.
Where is the economic engine? Alberta. According to MacLean’s Magazine (www.macleans.ca), issue of June, 2005, “Alberta is about to get powerfully rich. What happens to Canada?” Alberta’s economy has 4.8% growth in 2006, the strongest since 2000. The projected average growth of 3.5% between 2007 and 2009. The strong employment growth, low unemployment 3.4%, inflation contained. In addition, Alberta’s government leadership provides the atmosphere for growth. Economic growth stems from a well structured economy. Alberta’s 4.9% growth surpassed the country’s 3.4%, 4% that of British Columbia, and 3.1% that of Ontario.
Alberta, Canada’s world leading oil and gas industry. The top oil producers measured in terms of millions of barrels per day have a production and wealth shift from 2003 up to 2015. Canada will be ahead of Saudi Arabia, Russia, United States, Iran, and Mexico. The United States targets Alberta, Canada for oil solution.
Oil sands are Edmonton, Alberta’s ticket to a prosperous future. According to Edmonton Journal, March, 2006 issue, “Over the next 10 years, major oil sands projects will generate 60 billion in direct spending, which will multiply several times in their indirect impact across Alberta province and Canada itself. Tsounis estimates that every dollar spent on oil sands construction will create at least 80 cents in economic activity in Edmonton. Then every dollar of operations spending will have an economic impact of at least $1.2 in Edmonton.” The results of hard work are showing. Alberta’s unemployment rate is at it’s lowest in 3 decades. Statistics Canada reported that there is a 42% labor shortage concerns rate compared to 16% in BC’s, 4% in Ontario and in 6% Quebec. Alberta’s average hourly wage increases are also skyrocketing at 7.5% compared to 3.9% for the whole of Canada.
What is the engine of the real estate market? People. Albertans continue to pay the lowest taxes in Canada; the general corporate income tax rate was reduced to 10% on April 1, 2006! What is the impact on real estate? The top fundamental towns for long term investment in Canada are: Edmonton, Grand Prairie, Calgary, and Red Deer. Edmonton, Alberta is the number one in the list. The indicator of re-sale market potential shows that the cost difference between an average new home and a re-sale home: $22,000 in 2002 and $53,000 in 2005. Serviced lots to increase 15+ in 2006. Edmonton’s ring road and LRT expansion are the major transition that is driving the real estate market at its best. There is also a new $7 billion refinery located in the North East of Edmonton and it will ripple outwards.
Bottom line? It’s all about economic fundamentals! As investors we are business owners. Therefore, eliminate opinions and emotions. It will take you from a risky speculator to become a sophisticated investor. Don’t let such a fundamentally strong market pass you by.
Lourdes Elardo is an infopreneur and professional real estate investor. Visit her website at http://www.speakingwithlourdes.com and her blog at http://www.speakingwithlourdes.blogspot.com
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Hey Readers! I’ve been comin across some crazy stuff the past few days from a few different blogs around the web which I just had to share with you. Check em out below…
$1600 CAD Monthly (For Rent/Lease) – Terwillegar Common, Edmonton …
House FOR RENT.
Edmonton Real Estate: Three Things You Should See Before Making an …
The Edmonton real estate blog is published by Coldwell Banker Johnston real estate. The authors, Sara MacLennan and Sheldon Johnston are both licensed real estate associates in the province of Alberta. The opinions contained herein are those of the authors … These pieces of information are vital to anyone writing an offer. This help you gauge the position the seller is in, how motivated the may be, what the property is actually worth and more. Don't write without it! …
Real Estate leads? | Karen Booth Realty
Real Estate leads? Filed under: Canada Realtors. I'm a Mortgage Broker in Edmonton, Alberta, Canada. I will be organizing a booth at a trade show and i have an idea that will generate 3000 leads. i would like to sell these leads to …
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Purchasing your first home can be an overwhelming and sometimes trying experience, whether in larger centers such as Calgary and Edmonton or smaller centers across the nation.
But with a good mortgage broker finding you the best mortgage rates and products to suit your lifestyle, and the information in this two-part article, you’ll find the process is easier than you think.
As a first time home buyer, you can take advantage of many programs, including Home Buyers Plan, Gifted Down Payments, and 100% financing. Regardless of which route you go, there are seven steps you need to successfully navigate:
- Step 1: Get pre-approved
- Step 2: Arrange your down payment
- Step 3: Hire an experienced realtor
- Step 4: Hire a home inspector
- Step 5: Have all your documents ready
- Step 6: Hire a real estate lawyer
- Step 7: Move in
Step 1: Get Pre-approved
A pre-approval is a must in the fast paced real estate market, especially in provinces such as Alberta.
A mortgage pre-approval will determine the maximum amount you will be approved for. It will also hold the interest rate for you while you shop, ensuring that you receive the best mortgage rates possible when it comes time to make your offer.
A knowledgeable mortgage broker can generally help you complete a pre-approval in two business hours.
Step 2: Arrange Your Down Payment
If you are taking advantage of the Home Buyers Plan, you should make sure that you have notified your financial advisor about your plans to purchase.
You will then be required to fill out a T1036 form from Revenue Canada. Your financial advisor or tax office can supply you with this form.
Receipt of your funds may take some time so it is important that you request your funds early on in your home buying process.
If your down payment is coming in the form of a “Gift,” you will be required to supply proof in the form of a letter that states who is gifting you the money and what it will be used for.
Step 3: Hire an Experienced Realtor
Having an experienced realtor guide you through this market can make the experience of purchasing your home a lot easier. An experienced realtor in Alberta will be able to help you find the home of your dreams while negotiating the best price for you.
Real Estate agents in Alberta can be found online or on the Real Estate Council of Alberta website at http://www.reca.ca.
A good local mortgage broker can also recommend the top real estate agents in major centers such as Calgary and Edmonton as well as smaller centers.
Don’t Forget About Part Two
Be sure to read Steps 4 through 7 in part two of this article. And if you’re still looking for more help with buying your first home, contact an experienced mortgage broker in your area for more help.
Here’s to your new home.
Copyright (c) Tom Lam 2010. All rights reserved.
Tom Lam is the President of Urban Mortgage Inc. ( http://www.urbanmortgage.ca ). Whether you’re looking for a Calgary mortgage broker, Edmonton mortgage broker, or a mortgage broker for elsewhere in Alberta, give us a call today: http://www.urbanmortgage.ca/mortgage-products
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