Home Buying Safe in Edmonton?

*** The author of this blog, Ben Officer, is a licensed REALTOR® in the province of Alberta. The opinions expressed within this blog are those of the author and are simply that, opinions. The views expressed in this blog are not intended to advise you, as your needs may differ depending on your particular situation. The information provided in this blog is not guaranteed to be accurate and is subject to change at any time. For legal advice/information, please consult a lawyer. For mortgage advice/information, please contact a licensed Mortgage Associate. For tax advice/information, please consult an accountant. For investment advice/information, please contact a financial advisor. *** Blog Disclaimer - The information contained within this blog and posted by the author is believed to be true but cannot be guaranteed to be so. The author of this blog takes absolutely no responsibility for the comments posted by third parties on this blog.

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Monday, September 15, 2008

Home Buying Safe in Edmonton?

by Ben Officer on Mon, Sep, 15, 2008 11:01 AM

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There has been a couple of web postings and articles about the state of the Canadian and more specifically the Edmonton real estate market.

The Canadian market does not have the factors that will cause a U.S. style issue. This is spelled out in the article at: http://www.shelteroffshore.com/index.php/property/more/5-reasons-canada-property-market-wont-crash-10040/

The other study found that most housing markets in Canada are overpriced. Edmonton is one of the few that they say is under priced, by 8% in their opinion. The entire article can be found at: http://www.publicaffairs.ubc.ca/media/releases/2008/mr-08-120.html

I think that the housing market and economy in Edmonton and area is still strong, but a diminishing buyer confidence has caused them to sit back and wait for prices to reduce. If you are renting, then gettting a mortgage broker to do a pre-approval to see what you are qualified to buy is a good step. Then, you can compare the benefits either way.

Also, real estate is cyclical so it should bounce back and be a good long-term investment you can enjoy living in.

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Edmonton, St Albert, & Area RE/MAX Real Estate Professional

Ben Officer, CD REALTOR®

Home Buying Safe in Edmonton?

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