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top real estate agents: Strong dollar had affect on Real Estate Market - 01/28/08 12:33 PM
Four years ago an American could purchase a newer 1700 sq.ft. 2 storey house in Edmonton for $130,000 USD, $200,000 CDN. Today, the same home is $475,000 with either currency. This obviously has an impact on real estate demand. For this to happen over such a short period of time has made it unattainable for the average American. Much the same way that booming prices pushed a whole whack of local buyers right out of the market. The strong dollar combined with a struggling U.S. economy and a volatile stock market has made a lot of people nervous to do anything. … (0 comments)
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top real estate agents: Are opinions really a dime a dozen? - 01/24/08 07:04 PM
They say opinions are like belly buttons...everybody has one. When it comes to real estate forecasts you could probably get a dozen for a nickel. The kind that really bother me the most come from non-industry armchair quarterbacks. I've seen investors abandon the very market that has enabled them to retire early because their brother read that real estate is going nowhere but down. Opportunity lost, thanks to brother Bob. I have two suggestions...To the person with the dreams and the desire: talk to a professional. To Bob: please do not give unqualified advice, whether that be financial, medical, legal, etc. … (0 comments)
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top real estate agents: Could U.S. subprime meltdown happen in Canada? - 01/23/08 04:03 PM
Put simply, yes and no. We have mortgage insurance in Canada, and this is law. American regulators put very few limitations on who can borrow mortgages. It is significantly more difficult to obtain a mortgage in Canada however, if our real estate value drops for any reason, (including economic meltdowns elsewhere) sellers could find themselves selling for less than what they paid. If the situation is long term, we would see people that are considered 1st class borrowers walking away from their homes. This is not a likely scenario, but it could happen. Particularly, when you see the ineptitude of the … (0 comments)
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Norm & Lisa Racine
Spruce Grove,
AB
More about me…
Realty Executives Leading
Office Phone: (780) 962-9696
Cell Phone: (780) 982-4517
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