register | confirm account | forgot password
Anu Khullar - RE/MAX River City
301, 10171 Sask. Dr. , Edmonton, Alberta
P: 780-439-7000
F: 866-293-5424
Email

Thursday, April 14, 2011 - Real Estate expert says Edmonton on verge of a boom

A sold sign is shown in front of a home in south Edmonton. The city is on the verge of another real estate boom, says real estate expert Don Campbell.
Photograph by: Ed Kaiser, edmontonjournal.com

By Bill Mah, edmontonjournal.com April 5, 2011 Comments (32)

EDMONTON - Edmonton is on the verge of another real estate boom, says real estate expert Don Campbell.

Robust growth in the region’s gross domestic product and labour market will set off a chain of events over the next few months that will heat up housing again, said Campbell, president of Real Estate Investment Network and the author of the best-selling 97 Tips for Canadian Real Estate Investors. (He donates his royalties to Habitat for Humanity.)

“Alberta is uniquely positioned in the world to be a stable, consistent and growing source of the four things that the world is going to need over the next decade — food, fuel, fertilizer and forestry,” Campbell said during a stop Monday in Edmonton.

Jobs will attract more people to Edmonton from across Canada. That will push vacancies down and drive rents up.

In turn, more people will buy homes.

“The jobs are already starting and the in-migration is already beginning,” Campbell said.

“Eighteen to 24 months from now we’re going to see multiple offers. We’re going to see vacancy rates down as low as 2007, we’re going to see rental increases and we’re going to see the market turn back into a seller’s market.

“I’ve studied this for 19 years and I have not seen this strong of a perfect storm before.”

Campbell didn’t want to forecast prices or rents, saying it would be a guess, but “you can easily see 10- to 12 per cent increases in rents. Rents will go up first and values will go up second.”

His tip for homebuyers: “I suggest that you don’t wait until the frenzy is here because then you’ll be frustrated, putting in multiple offers. Right now you can see it happen and if you know you’re going to be buying in the next year or year-and-a-half, and the interest rates are so low right now, now is a wonderful time to start looking and identify the right neighbourhood.”

Campbell says neighbourhoods within walking distance — 50 to 800 metres — from LRT stations and areas to be serviced by the regional ring road such as Castle Downs, St. Albert and northeast Edmonton — which he says will eventually resemble southwest Edmonton — are good areas to buy or invest.

Premier Ed Stelmach said in March the northeast quadrant of the Anthony Henday Drive ring road has been given the green light and is expected to be completed by fall 2016.

If the arena district goes ahead, interest will also pick up in the surrounding, older areas in the inner-city, Campbell said.

“As a homeowner, you think like an investor: Where’s going to be a spot that’s going to do well that I’m also happy to live in?”

For homesellers: “If you have the chance to wait, you might want to hold off a little bit. If you think you want to maximize your dollar, now might be a little early.”

bmah@edmontonjournal.com

twitter.com/mahspace

© Copyright (c) The Edmonton Journal - View source article here...

posted in News at Thu, 14 Apr 2011 14:32:01 -0600



iPhone MLS® Search
Button advertising your iPhone site
MLS® on your iPhone
MLS® Search Button
Button advertising your MLS® Search page
Map-based MLS® Search
Recent Blog Entries
Displays summaries of most recent blog items
Recent Blog Entries
Canada's Mortgage Rules Tightening - Jul 4, 2012

Effective July 9, 2012, the rules for government-backed insured mortgages will tighten in ...

Ice on Whyte festival - Jan. 12-22, 2012 - Jan 9, 2012

Join dozens of ice carvers as they descend on Edmonton this January for a sparkling tribute to the ...

The hot real estate topics for holiday parties 2012 - Nov 30, 2011

Want to be the one in the know at this year's holiday parties?  Well here are our hot topics with ...

November 2011 - Preferred Newsletter - Nov 30, 2011

How is your Christmas Shopping coming along? Still time to buy a new home for the best present ...

October 2011 - Preferred Newsletter - Nov 11, 2011

Ready for winter?Still hard to believe that winter and Christmas are right around the corner with ...

The data included in this display is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. Data last Updated: Sun, 10 Dec 2017 20:41:50 America/Edmonton
This site's content is the responsibility of Anu Khullar, licensed REALTOR® in the Province of Alberta.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

© 2017, All Rights Reserved | Privacy Policy | Mobile Site | REALTOR® Websites by RealPageMaker