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Calgary Condo's - 5000 more coming soon

By
Real Estate Agent with Remax House of Real Estate

Did you know that in Calgary, Albeta, there are over 35 Condo projects which are all scheduled to be completed by 2010. This will put an additional 5,000 condos on the market by the end of 2010.

I'm not sure pre-construction speculation is a sound investment strategy!

However, buying a good solid 'used' condo (with cash flow) ... around these projects ... would be a great investment strategy.

If you are going to play in the pre-construction condo game ... buy existing properties.

Posted by

Bryon Howard

ReMax House of Real Estate

Calgary, AB

For a free maket evaluation visit http://www.homeinsight.com/Widget/default.asp?ACJ2B351Q3YN

 

Comments (5)

Paul Kaplan
The Paul Kaplan Group, Inc - Palm Springs, CA
Mid Century/Modern homes in Palm Springs - www.Pau
How's the condo market fairing in Canada? Are you having the mortgage issues we are having in the US?
Dec 04, 2007 11:37 AM
Bryon Howard
Remax House of Real Estate - Calgary, AB

No we are not having a sub prime mortgage problem.

20% of all mortgages dished out in US in the past 3 years were sub-prime.

2% of all mortgages in Canada have been sub-prime.

Canada's economy is smoking ... and this is all fueled by oil driven Alberta.

Dec 04, 2007 02:52 PM
Paul Viau
Nova Scotia Real Estate Blog - Halifax, NS
Nova Scotia Real Estate Blog + Photo Services

I'm hearing that Calgary is taking a hit of about 50,000
When it comes to prices. Do you think it is cyclical or not ? 

Dec 06, 2007 11:35 PM
Bryon Howard
Remax House of Real Estate - Calgary, AB

Hi Paul,

It is definately cyclical.

Historically in Calgary (Alberta), July to January is not a good sellers time.

However, because of the huge increases in the past two years ... we are difinately in a slow down.

I'm expecting at least 12% increase in 2008. Most of this increase will happen April to June.

If you wish to buy in Alberta ... buy by Mid March! (...by April the glut of listings will be eaten up ... and prices will rise.)

I love Alberta Real Estate.

Dec 07, 2007 04:26 AM
Anonymous
flippant

Just wait until next year... don't uy a condoin Calgary in the next year,unless your insane.

Sep 25, 2008 06:37 AM
#5