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Edmonton Real Estate Market

thommyjo said:
Is the difference just that you couldn’t do like a duplex or townhouses? And isn’t Vancouver moving to 6 units allowed on any lot? Thought I saw that.
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You can do duplexes, but if I remember correctly, that actually reduces the number of units per lot, as you can't have secondary suites in duplex units.

The mayor has proposed a few different policies on 6 units per lot, but the last time it went to council in 2020 it was rejected. It will hopefully go to council again before the Oct 2022 election, however this version only includes 2000 lots as a "pilot" which isn't exactly that useful.

dailyhive.com

Vancouver mayor makes pitch to allow up to 6 affordable homes on a single-family lot | Urbanized

Vancouver mayor Kennedy Stewart has rebooted and revised his Making Home proposal of allowing more units on single-family lots.
dailyhive.com dailyhive.com
 
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Nope.

As a seller, I can willfully say that there is very, VERY little interest right now.
 
IanO said:
Nope.

As a seller, I can willfully say that there is very, VERY little interest right now.
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I know a few people that have sold condos lately, and due to urgency all of them had to take a significant loss from what they originally paid. The current market for condos sucks. Sorry you are having to go through the process of selling in a down down market.
 
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As I have been saying and saying and saying -- investment dollars are tight, especially from conventional sources.
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IanO said:
An option, but given EVERY other market, this is disheartening.
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Could always re-amortize as a mortgage based on being an income property. If I recall, you’ve owned since 2010ish. Though you’d be putting more into interest being that it’s an income property and rates are less favourable, you’d probably become profitable, and be able to purchase a second property utilizing the additional albeit marginal income stream as a boost - maybe get a higher approval from the banks and a more intriguing property as a second asset.

- Then sell in 5 years. It’s shifty in the sense of a possible drop in the market, but that’s a risk I’d take during a period of inflated energy prices, high cash flows in oil companies, etc.
 
With the continuing rise of interest rates I'm seeing some really good deals on residential properties in and around our city. You know something, Edmonton just may be the last 1+ million people city in Canada where you can buy a house and actually pay it off long before you die; an advantage that sadly many Canadians living in Toronto, Vancouver and Montreal will never get to see. I'm coming up on 9 years of living here in Alberta and I can't express how thankful I am for everything that this province has done for me. A 27 year old minimum wage worker from Missisauga, ON, I came here in 2013 with a suitcase full of clothes and an Xbox 360. Almost nine years later, I'm married, I have a house, three beautiful kids and a wife that still thinks I got it :)
 
Now if we can only work on:

1. winter
2. safety/cleanliness
3. private sector job opportunities; especially managerial + roles
4. air connections
5. winter
 
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