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Real estate transactions: New rules may reduce buying power

New mortgage rules across the country may may it harder for purchasers to snag their dream homes. In Alberta, as in the rest of Canada, new rules regarding mortgages are expected to reduce buying power by about 21 percent. Real estate transactions may take a hit because of the move.

More than $1 billion in real estate transactions in AB capital

Things are looking rosy on the real estate front in Wild Rose Country. Alberta's capital city has seen an increase in real estate transactions in the industrial, commercial and investment (ICI) sector along with increased sales in the office, multi-residential, retail and industrial areas. In fact, sales from these sectors totalled more than $1 billion from January to June this year. That figure is up from just over $712 million during the same period in 2016.

Cochrane leading way for real estate transactions in Alberta

Alberta has had some recent economic troubles, especially with the dip in the oil market. But if the community of Cochrane is any indication, things are looking up in Alberta all around, especially in regard to real estate transactions. With little hoopla, Cochrane has seen its population increase by almost 50 per cent over the last six years with a 4.5 per cent growth in 2016 alone with no signs of slowing down.

Job slumps put damper on North Alberta real estate transactions

When jobs are scarce, it stands to reason that the housing market will take a beating. The slump in jobs in the Alberta oil sector may be harming a possible renewal in real estate transactions in the northern part of the province. Unemployed people have trouble making ends meet. Stagnant cash flow equals a thwarted real estate market.

Calgary real estate transactions on the rise, along with prices

It is said that what goes up must come down. Depending on the current mood of the economy in Alberta, the opposite can also be true when it comes to real estate transactions. The slowly moving Calgary real estate yo-yo seems to be creeping its way back up, according to new data from the Calgary Real Estate Board.

Will the next wave of real estate transactions come from abroad?

For as much as locals may love their province, property in Alberta's cities has never received the same attention from foreign buyers as Vancouver and Toronto. Indications are, however, that the trend may soon change. Some people in the know think Alberta may soon start to appear on the radar of many would-be purchasers from outside the country, and foreign-buyer real estate transactions could become more common.

More real estate transactions involve foreign buyers than ever

It has been well documented that foreign buyers, in particular buyers from mainland China, have been a major presence in the Canadian real estate market. While much of the attention has been focused on other locations, there are clear indicators that Alberta is gaining in popularity with this group. Statistics show a vastly increased number of inquiries into the Calgary market, and this may translate into more real estate transactions.

Some real estate transactions may include unwanted restrictions

When one purchases a property, it is typically the buildings or the land that is wanted. However, many real estate transactions also bring with them pre-existing restrictions on the property and its use. These inherited conditions may cause difficulty to new owners who wish to utilize their property in an otherwise prohibited or restricted manner. A scenario like this is currently playing out in Alberta's western neighbour. 

Condominium real estate transactions may require extra scrutiny

Given the dearth of available single-family homes in Alberta, many people are setting their sights a little higher. Condominium buildings are a popular choice, especially for those looking to be closer to the city, or who do not wish to worry about maintaining a home. However, all real estate transactions were not created equal, and anyone looking to by a condo should probably do a little homework, first.

Out-of-province developers driving real estate transactions in AB

It takes a special kind of nerve to venture into an area from which many others have departed. That seems to be what is happening in Calgary of late, as B.C. builders and developers are betting on a full-scale recovery in the province's largest city. As a result, numerous major real estate transactions have taken place recently, leading to a spate of new development.

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