Just in case you were curious about how hot the Alberta real estate market is...

[Paul]

This house sold for a little over $800,000 approximately one year ago.

http://edmonton.comfree.ca/display.html?code=5199

[barracuda]

thats not to bad , the neighbour below us purchased for 1 M 2 yrs ago and it just went up for sale for a hair under 1.5 M and it is not expected to last.

[Dramus]

Jeez, $5900 a year in taxes...thats a mortgage payment right there.

[Hecklin at y'al]

My place-paid $214,000 3 years ago.
Just got bank appraised at $470,000.
Real estate on the street (similar in age and style to mine) selling for $500,000+.
A good return on my investment, don't you think?
Tim...2 years, daugher done school, house sold, fishing starts.

[brian468]

the markets just insane everywhere, I might even get into house flipping in washington with my buddy.


you`ll never catch me paying 450 grand for a 1500 sq ft 3 bedroom though, i`ll be out in the middle of nowhere sitting on 30 acres laughing at the city folk.



:laugh <---kinda like that

[Paul]

A friend of mine a couple of miles away bought his house in December for $307,000 and yesterday it was appraised at $435,000. That is just insane. :eek:

[JOG]

Do a Google search on real-estate bubble. The party's over for the U.S. Vancouver condo's may be next.

The first statements of denial in any bubble market is always "This time it's different." or in real estate "It's different here."

[fishead]

Originally posted by JOG
Do a Google search on real-estate bubble. The party's over for the U.S. Vancouver condo's may be next.

The first statements of denial in any bubble market is always "This time it's different." or in real estate "It's different here."

I sure hope so!

Grandpa said that back in the '80's, they said "its not a bubble" just before it all popped.

I don't want to see people losing their homes and going bankrupt, but I have been trying to get in for a while now, and as soon as I can almost afford it, it keeps going up! I am sick of renting! I want the bubble to pop!

[barracuda]

even if you are say the bubble will burst (The US is several years ahead in real estate trends) it will affect middle&upper end housing as well as the condos and that type of houseing . the bottom end or starter homes never fluctuates as greatly . It is normally a flattening of values .

[jasonmt]

Unfortunately Lorrelind Estates is built over quite a bit of former swampland, has very little foliage and borders a busy road.

There are many better buys in the same general area where you cannot see every single one of your neighbors houses.

I drive by that house 6 or 8 times a week on the way to my brothers acreage which is about 1km north of Lorrelind Estates.

[Graman]

Originally posted by Hecklin at y'al
My place-paid $214,000 3 years ago.
Just got bank appraised at $470,000.
Real estate on the street (similar in age and style to mine) selling for $500,000+.
A good return on my investment, don't you think?
Tim...2 years, daugher done school, house sold, fishing starts.

Sure, it sounds like a great return, but if you did sell your house, you'd have to buy a new place to move into... The only way you'd still be able to make money is to leave town or downsize. :rolleyes:

I don't think the lower mainland's housing market is going to crash (in the forseeable future), but it will plateau, and maybe slow a bit.

[Bushpiggy]

...or pop and fall flat on it's face. :rolleyes:

[RoperAB]

Originally posted by Graman


Sure, it sounds like a great return, but if you did sell your house, you'd have to buy a new place to move into... The only way you'd still be able to make money is to leave town or downsize. :rolleyes:

I don't think the lower mainland's housing market is going to crash (in the forseeable future), but it will plateau, and maybe slow a bit.

I agree plus its even worse if your trying to get your first place. 1/4 sections in my remote part of Alberta are selling for $1400 an acre. Then add the cost of putting in power, driveway, well, septic and a house and your talking way more money than any working guy could afford unless your selling dope or something.
Even little acreages are selling for a 1/4 million around here.
Truth is there is no Alberta advantage. For what it cost to live your only going to make a living. Your not going to get a head unless you have some bucks in the first place. Plus there is so damn may people coming here that we are starting to look like some over stocked place like Colorado or something.:(
Alberta was nicer ten years ago.

[jeepinwhores]

My cousin sold his mobile up here in Ft. Mac for $289000 in February (rediculous in the first place!). Bought a corner lot in a new subdivision in Calgary and sold it last month to move back up here. 6 months later.....$125,000 in his pocket. Not too shabby.