Research released by RBC Economics shows Edmonton Real Estate to be one of the most affordable markets in the country. On average, home owners in Edmonton spend just 33.8% of their income on owning a home, lower than even Calgary’s 37.1%.

From the Edmonton Sun article:

“The numbers show that Edmonton, from an affordability perspective, is one of the national leaders. In terms of being a major municipality, having over a million residents in the metro Edmonton area and having prices as affordable as they are is a real blessing for Edmonton, I think,” RAE President said.

“The last time I checked, Edmonton was running $100,000 less than Calgary,” he said. “I think that’s an indicator of how lucky we are in Edmonton.”

The real estate industry keeps an eye on rental industry numbers, and a lower vacancy rate is encouraging, spurred by a warm oil and gas sector, Mooney said.

“In a market like ours where we’re seeing a lot of in-migration of labor, that’s a strong indicator of future sales … foretelling further activity in the residential market,” he said, predicting a “bump” in real estate sales within a year.

…

In Edmonton, the average single family home price shrank from $415,860 in 2007 to $384,656 in 2011. The average condo price went from $274,379 in July 2007 to $224,225 in July 2011.

For a quick retrospective, in July 1962, the average single family home cost $12,790. In July 1972, it cost $24,411. In July 1982, it was $91,190; in July, 1992, it was $110,516; in July 2002, it was $139,021.

Read the full article at the Edmonton Sun

Over the course of the last six months, there have been heated discussions over the new potential downtown arena proposed primarily by the Katz Group of Companies. The debates have ranged from how it will effect downtown, to what it will cost taxpayers and what will even happen to the existing Rexall Building.

Personally, I know that if we do not move forward with progressively driving the revitalization of our downtown  with this arena, we the people of Edmonton will miss out. This is especially true for the real estate investment potential of downtown and the urban movement that will come with it.

When I talk to younger potential Edmonton home buyers – they share stories and desires of how they want to see Edmonton become a major metropolitan centre -  proud and more successful than ever. A city that they can live local in (with all the amenities and entertainment nearby) and a place that  drives them to be motivated and to succeed .

In respects to the Edmonton Real Estate Market, I know that if the arena does go through, there would be no better time to buy a prime piece of downtown Edmonton real estate like the present. Whether you are a young professional with a desire to live central, or an investor who knows purchasing a condo in this area would be beneficial – I recommend starting your search for the perfect property today.

Young Professionals – Prior to purchasing your new property, remember to keep in mind:

• Your lifestyle – What size of condo would work for you? How close would you want to be from specific amenities? What is the property age demographic?
• Make sure that you can afford both the mortgage as well as the condo fees.
• What amenities or services would you like in your condo development or nearby?

Condo Investors:

• Remember to take a long term view of your potential investment – Does it have a positive cash flow?
• Research – which neighborhoods have better potential – which areas have less properties on the rental market and have a greater demand for them?
• Review Economic Factors – Population, job growth, average incomes and so on.

Whether you choose to invest in the downtown Real Estate market or not, is completely up to you. Regardless, the downtown is in need of a  major revitalization. 104 Street and Jasper Avenue are already making head way in creating a more urban environment. The Edmonton downtown arena and its proposed additional facilities will promote downtown Edmonton as an urban, forward thinking destination to live.  As an Entertainment Centre, the city of Edmonton will be filled with more energy and excitement, connecting more to the world than ever before.

For more information on the proposed Arena, please visit Revitalize Edmonton. Alternatively, if you are interested in buying an Edmonton Condo, start your search. Want to learn about new Edmonton developments – contact the Terry Paranych Team today.

Photo Provided By Daryl Katz Group – visit their website – Revitalize Edmonton

The Terry Paranych team is excited to announce that Paranych TV is now live! Get up-to-date information on Edmonton home buying and selling, interviews with Terry Paranych himself and more!

Eye on Edmonton is the latest installment showcasing the Terry Paranych Team and our success when it comes to Edmonton Real Estate. Watch the video here and learn how we pay attention to detail and give people more than they expect.

Stay tuned for weekly video updates!

This month, my team and I were featured in Alberta Venture Magazine. Alberta Venture focuses on the province’s business community, the growth and development of it and the leaders that shape our society. Being recognized as a leader in Edmonton’s real estate industry is an accomplishment that I am proud of and one that I continue to push the limits of “how I define success” daily.

I encourage you to read an excerpt from the magazine and to follow the provided link if you would like to read the entire article:

“If you live in Edmonton, you probably know the face of Terry Paranych better than your own mother’s. For years, this Realtor’s marketing campaign has been a veritable blitzkrieg. He spends around $600,000 annually on flyers, bus and newspaper ads, billboards – you name it, his face has been on it. There’s a martial precision with which he controls his brand, too. Rarely will you encounter his public persona in anything but black pants, suspenders and a white shirt. And the number one trait he seeks in his growing army of proteges – once or twice a year, Realtors pay $5,000 to attend his real estate “boot camps” – is the ability to listen and learn. His approach has been phenomenally successful. Paranych is currently ranked the top-selling broker in Canada and fifth worldwide. He is an inductee to Remax’s Circle of Legends, that holy realm for agents who have made at least $10 million in commissions. In short, the man knows how to move a house.”

Read more: http://www.albertaventure.com/real-estate/sergeant-salesman/#more-4884#ixzz0cj1cdbPl