Have Edmonton Prices Bottomed out?
- Thread starter jamurphy
- Start date
- Joined
- Aug 31, 2007
- Messages
- 947
Great advice from Navaz.
We will not know if prices have bottomed until 6 months later... when we are looking back.
Edmonton has some of the best fundamentals in Canada, and perhaps the world. It is a great place to invest in for the long haul.
As a Realtor I would ALWAYS counsel buyers to buy for the long term, and not to consider whether or how quickly prices were moving up or down. As a home buyer, we should be buying for how the home makes us feel, and not with appreciation or depreciation in mind.
As a real estate investor we should be concentrating primarily on cash flow. If you have positive cash flow, and you are in it for the long term, does it really matter if the value falls for a few years?
If you can afford to buy in this market, you can get what the stock market calls "dollar cost averaging". You get a bunch of expensive homes in with a bunch of inexpensive homes.
In the end... unless you are selling... who cares?
We will not know if prices have bottomed until 6 months later... when we are looking back.
Edmonton has some of the best fundamentals in Canada, and perhaps the world. It is a great place to invest in for the long haul.
As a Realtor I would ALWAYS counsel buyers to buy for the long term, and not to consider whether or how quickly prices were moving up or down. As a home buyer, we should be buying for how the home makes us feel, and not with appreciation or depreciation in mind.
As a real estate investor we should be concentrating primarily on cash flow. If you have positive cash flow, and you are in it for the long term, does it really matter if the value falls for a few years?
If you can afford to buy in this market, you can get what the stock market calls "dollar cost averaging". You get a bunch of expensive homes in with a bunch of inexpensive homes.
In the end... unless you are selling... who cares?
Appreciate the advice guys.....however you`re preachin` to the choir here.
I have bought 3 units in the past 9 months.
Regardless.....must admit I`m still pretty interested in the mechanics of the market....particularly at the moment, with so much pent up demand from fence-sitters asking this exact question.
I have bought 3 units in the past 9 months.
Regardless.....must admit I`m still pretty interested in the mechanics of the market....particularly at the moment, with so much pent up demand from fence-sitters asking this exact question.