Alberta Cities Come in 1st and 2nd for Best Places to Invest in Canadian Real Estate PLUS Edmonton Real Estate Forecast 2009 and 2010 Outlook

According to an article in the Canadian Real Estate Magazine, Edmonton takes first place in the best areas to invest in real estate in Canada. Whether oil is $50 or $100, Edmonton’s underlying economy is poised to be a national leader over the next decade. Calgary followed closely behind. Second in corporate head office locations in the country, lowest in unemployment and highest in average income, Calgary will challenge Edmonton as leader of Canada’s economy. Five Year Cycle: In Canadian real estate investing, you’ve got to be able to hold onto a property. It’s not like buying a stock that you sell a few days later because it went up a few dollars. I use a five year cycle, because that seems to be the time frame when you can trade up or move on. According to the Canadian Real Estate Magazine, the outlook for Alberta real estate is promising: The economy will grow by just 1.2% in 2008, as output has declined in goods-producing industries such as manufacturing, construction and mineral fuels. With these industries expected to rebound, Alberta is forecast to generate real GDP growth of 2.6% in 2009.

Edmonton Real Estate Forecast 2009

According to the Canadian Real Estate Magazine, Edmonton Real Estate forecasts for 2009 are very promising. A growth rate of 4%, according to the Conference Board of Canada, in part due to oilsands development in the northeast parts of Edmonton, construction and infrastructure activity, is making forecasts for Edmonton real estate 2009 a key player for property rental returns. According to Don R. Campbell, president of REIN, Calgary, “With over $200 billion of investment pouring into Northern Alberta in the next vie years we will witness a dramatic growth in jobs, which will attract people from across the country and around the world, each and every one of them requiring housing either rental or purchase in Edmonton real estate 2009.” In addition, the completion of the LRT route from Health Sciences Station to Century Park central Edmonton real estate at the end of 2009 is expected to bump up the 2009 forecasts for Edmonton real estate values by ten to even twenty per cent says REIN. In 2008, the average price of an Edmonton condo was $228,750 according to Royal LePage, which is one the most affordable and undervalued real estate markets in all of Canada. CMHC figures show the average monthly rental income for a two bedroom Edmonton property was sitting at about $1,000 per month. 2009 Edmonton real estate investors forecast such as Bill Briggs, a local realtor for Re/Max Real Estate Central Branch says that property investors in Edmonton tend to purchase mid to lower priced single family homes as well as apartments and condos to achieve good cashflow. The forecast for 2009 in Edmonton real estate values is that cashflow will continue to be a great positive for the markets while property values should stabilize by mid year. “Proximity to the University of Alberta, the Northern Alberta Institute of Technology and Grant MacEwan College provide a huge number of prospective home renters,” he says. Edmonton condo forecast for 2009 might be the best opportunity for cash flow because these units tend to rent faster and are expected to see a 12.2% increase in rent by the end of 2009, according to CMHC.

The 2010 Outlook for Edmonton Real Estate

According to many experts, now is a great time to purchase Edmonton property. There are several factors that result in this conclusion. Firstly, mortgage rates and lending are at all time lows in the history of this country. With BoC lending rate at 1% as of February 2009 and an expected drop by 0.25% to 0.5% in the upcoming Bank of Canada announcements, the variable rate mortgages that are tied to the BoC lending rate to some point, will possibly hit the lowest point ever in the coming month. The 2010 outlook for Edmonton real estate is that the rebound in commodity prices such as oil and gas will have a very positive effect on the Alberta economy in general, with Edmonton property prices in 2010 outlook and forecasting expecting a high single digit gain through the year. Variable rate mortgages are very low right now, and waiting even 6 months may mean a difference in one or two per cent over a course of a five year term. Any drop in Edmonton real estate prices in 2009 or 2010 will be offset by the increase in mortgage interest rates, so there would be no real advantage to wait if you, as a homebuyer, are ready to make a new Edmonton home purchase. Secondly, the Edmonton real estate outlook 2010 and beyond is that with many home buyers waiting it out to see where the market goes this year, and with forecasts for 2009 and 2010 in Edmonton real estate calling for a big dip in sales volume and a small decrease in sales price, there will be many more people looking to buy a home in Edmonton property market in 2010. with an increase in homebuyers, comes competition again, meaning that the new Edmonton home of your dreams may have multiple offers and possibly bidding wars for lower priced houses and condos. Why go through the tense wait of bidding wars when you can submit a single offer in 2009 Edmonton real estate outlook and forecast and end up with a great home that you love. Thirdly, oil and gas make up a big part of the Edmonton economy and is a driving force for the province of Alberta in terms of revenue, infrastructure, business and population growth. As commodity prices are at their all-time lows in the past 20 years and with the rise and growth of both China and India coupled with the insecurity of other gas and oil producing nations, Edmonton real estate forecast for 2010 and 2009 is much better than what most headline news portrays. With a growing demand in these developing nations, it is important for Edmonton to make sure that it gains the respectable relationships with these nations and to promote other clean energy sources for the future of Alberta. With a rebound of oil and gas prices expected in late 2009 and through 2010, the Edmonton real estate outlook and forecast is very good as property prices here have always had a direct relationship to commodities. With more people moving into the Edmonton area in 2010 and with an increase in the number of jobs coupled with a stagnant home building industry for the last two years, there will be a shortage of rental and owner occupied housing in Edmonton real estate in 2010 again. For all of these reasons, Edmonton real estate outlook 2010 and beyond is for a strong and stable market for both buyers and sellers.

Edmonton Century Park Master Planned Condominium Community - Construction Update on Century Park Condo High-Rises & LRT Expansion

Century Park Club & Residences Newsletter Update

Beautiful condos – Community living – Modern luxury – Location and style – Access, access, access, Close to University, Club Century Park – Convenience – Exciting Community – Excellent Location – Close to LRT – Great Quality. This is Edmonton Century Park Club and Residences, a master planned community marketed by Rennie. Club Century Park: At Century Park Club & Residences Edmonton pre-construction condos, ownership has its privileges. While membership at most private clubs costs a fortune, at Century Park it’s a lifestyle benefit. Club Century Park Edmonton offers an amazing array of activities and amenities to all owners/residents at this wonderful community. Some of the great amenities at the Club Century Park Edmonton property includes a modern reception and lobby, food and juice bar with lounge, multimedia theatre, bar and grill, games room, gymnasium: play basketball, badminton and volleyball, racquetball courts, swimming pool and whirlpool, sauna and steam rooms, change rooms, locker rooms and showers, fitness and weight room, aerobics and yoga studio.

Central Living at Century Park Club & Residences

Edmonton’s most spectacular new pre-construction condo residential development, featuring wolrd-class architecture and interior design by internationally renowned James KM Cheng Architects. This beautifully appointed collection of resort style Edmonton condominiums is surrounded by 43 acres of tranquil gardens with a recreational lake, paths and park. Century Park Club & Residences is a fully integrated, sustainable community offering exquisite design and state of the art technology. Enjoy carefree living, convenient transportation and LRT, signature restaurants, shops and cafes – plus exclusive access to Club Century Park, your own private fitness centre and retreat! Central Condos at the Edmonton Club Century Park. Location, location location. Lcoated in southwest Edmonton, the pedestrian friendly Century Park Central condo pre-construction properties locale with onsite new LRT station and public transportation means you are just minutes away from everything, including South Edmonton Common, the largest retail in the city. Central Condos Edmonton is ideally situated adjacent to Club Century Park, overlooking the spectacular setting. Recreation at your door. The resort style atmosphere features convenient in house fitness facilities and exclusive access to your own private Club Century Park at the Edmonton Central condos with a spectacular swimming pool and collection of luxury amenities. Your pre-construction condo Edmonton home is a tranquil oasis, surrounded by jogging, cycling and walking trails intermingled with courtyard and public gardens, public art, recreational and green spaces, including a lake. Conveninece at the Central at Century Park Edmonton condos is a lifestyle. Live carefree. Book a session with your trainer at the Club Century Park or make a dinner reservation from the comfort of you home via a personal electronic concierge. There’s no maintenance to worry about, no lawn to cut. Everything is taken care of for you at the Central Condos at Century Park in the Edmonton real estate market.

Construction Update

At Century Park Edmonton Club & Residences, construction is proceeding rapidly and it’s an exciting time on site. The full community development real estate is phased over 10 years and we are currently working Phase 1 and Phase II. Century Park Phase One – South Building – completing roof, floor 4 installing steel studs and floor 2 installing mechanical and electrical while the North Building – floor 2 is completing concrete. Edmonton Century Park Regent Condos – South Building – parking level 1 – completing concrete and North Building at the same point. Century Park pre-construction condos availability includes: Regent pre-sales Edmonton Condos from Unit 603N at $407,000 facing E, 1 bed plus den and 775 sq ft with N views to Unit 402S at $557,000 facing NW with 1121 square feet, 2 bedroom Plan N. The Central Condos at Century Park Edmonton pre-sales includes units from PH4 at $1,595,000 with 2 bed plus den plus family room with 1978 square feet of living space and SW views to Unit 806 at $368,900 at 1 bedroom, 679 sq ft and S views. More information about availability and the various condo developments are located online at centurypark.ca or you can call 780.410.1738 or visit the Century Park Presentation Centre at 2395 111 St. SW, Edmonton which is open daily 12 pm to 6 pm and closed Fridays.

The truth behind the current drop in Edmonton real estate prices and the drop in Alberta home equity

Will the recent decline really hurt home owners in Edmonton, Alberta?

Before you go and pull out your calculator and drive yourself crazy to figure out how much Edmonton home equity you lost, lets examine the real reason why you bought your house in the first place. Did you purchase your home in the burgeoning Edmonton real estate market hoping to ride the real estate curve and make a few quick dollars or to have a beautiful place to call home for a long time or even generations to come? Or you bought your new Edmonton home because you fell in love with the place and absolutely wanted to live there? And you love all the extra spaces that it provide for you and your family, the lovely fenced yard for the kids and the dog, the deck that you always wanted to have for all those long summer nights, the gourmet kitchen that you love to cook and entertain in. Congratulations if you bought your Edmonton house because you fell in love with it then it! Then it really doesn’t matter to you which way the Edmonton real estate market goes because you love your home so much that you wouldn’t sell even if the market skyrocketed tomorrow or in the near future.

Investing in Edmonton properties is different than other investments

Most Edmonton house buyers purchased their homes to live in and they are not concern about the most recent drop in Edmonton real estate prices. This is because regardless of what happens, we still need a roof over our heads and a place to call home. That’s why in one lifetime the best investment is your own homes and this makes even more sense if you’re investing in Edmonton properties. Investing in Edmonton property is quite different than buying other investments such as stocks, mutual funds, GIC, bonds, gold, etc as these are more sensitive to the direction of the property market. This is not the case with the drop in the value of your Edmonton property values. As long as you can make your monthly mortgage payment you’ll still have a lovely home to stay in and no one will come knocking on your door to ask you to pay back your line of credit. That is why investing in Edmonton real estate makes sense and also makes sleeping easier compared to other more riskier investments.

Nothing happen to your Edmonton home unless you sell

Unless you can’t sleep at night or you are a realtor in Edmonton making a living selling real estate, the current up and down markets should have no bearing on your current finances. You qualified to buy your new Edmonton home based on your income earning ability at that time to service the mortgage and unless this has changed, you are still making the same payments the downturn in the Edmonton real estate market. The good news is that eventually this Edmonton home mortgage will be paid off and you can live in your home mortgage free! Then you wouldn’t care which direction property the market goes.

Edmonton real estate has increases over the past five years

Another way of owning your own home in Edmonton’s property market now is the right time to invest in more properties in Edmonton. According to the Edmonton real estate board an average houses in Edmonton 5 years ago costs $177,178 and when the Edmonton market peak in May/June 2007, an average Edmonton homes cost $426,028 and it is now sitting at $303,304. That’s a 71% increases since 2004. It is no wonder why we have seen slight adjustments in the values of Edmonton property and housing prices over the last 1.5 years. Edmonton real estate at one point used to be the tenth highest priced city in Canada to purchase a home, it now sits at fifth or sixth. This is why investing in Edmonton property for the long run still make the most economical sense and will continue to attract migrants from other provinces because of the no sale taxes and the lower cost of living in Edmonton combined with well-paying jobs and housing availability.