Weekly Market Update, March 10/17

I think spring will be better then most people think. Not great, but not bad. Been keeping my eye on a couple properties and they sold within days, one for list price.

It looks like it's gonna be hot in Spring

From what I've seen, Edmonton houses under $600k are selling within days. It's going to be a hit spring.

In Calgary too they are selling within days. It could be buyers are rushing before the interest rate goes up because otherwise it is unjustifiable specially that the vacancy rate is very high. I've read stories of landlords lowering their rents in Calgary by as much as 30% and oil price is still relatively very low compared to 2014 and before and in that case house prices were supposed to be heading down for a bit longer before they start to recover instead.

See chart:

http://moneytalks.net/images/stories/bingo/chart-canada_2_orig.jpg

Edmonton is dirt cheap according to this chart.

Buy as many SFH as you can.... good opportunity now as the oil is under $48 again....

It could also be buyers dropping prices to try to sell before the proposed rise in capital gains tax in the March 22nd budget speech. Nothing is etched in stone but everyone seems to know about it. The question is what day will be valuation day? I can't see such a huge tax grab as being retroactive. I'm guessing valuation day will be either March 22nd or April 01, 2017. In Toronto the owners of second and third properties are too stupid to list thereby owing hundreds of thousands of dollars more in tax upon sale.

According to this chart Edmonton real estate is not a growth story - it is always cheap!