There are two major issues when it comes to the federal election next year. One of them has to do with real estate transactions and how the federal government's stress test is affecting the market overall in Alberta and in Canada. Experts say it will hold a lot of water with voters who were primed to purchase their first home, but had to put plans on the back burner due to this new means of qualifying purchasers.
Buying a home or property should be exciting even though it may be stressful at times. Having the right salesperson can make the difference between having a positive or negative experience when it comes to real estate transactions in Canada. Those who find that they're just not working with the right person for them may have a few options when it comes to finding the right agent, and it can also work the other way, too. Sometimes, it just isn't the right fit between people.
A recent Supreme Court decision is expected to change the face of real estate in the country. Certain information -- like the selling price -- regarding sold properties in real estate transactions in Canada will now be made public. The high court chose not to hear an appeal regarding the ruling of a lower court, which decided that the Toronto Real Estate Board (TREB) must allow certain information about homes for sale to be made public, including what a home sold for previously.
Many people do not realize that there are actually two CN Towers in Canada. The other is in Edmonton, Alberta and when it comes to real estate transactions, the 27-storey building in the city's downtown core, which CN vacated in 2008, is set to get a new lease on life. The new owner is turning the building into an office complex and has already updated the elevator, mechanical and building security systems.
Alberta seems to be one of Canada's favourite spots in which to settle down. One of the reasons for Alberta's popularity in terms of real estate transactions has to do with land transfer taxes. Most buyers tend to overlook land transfer taxes, but many are becoming more aware of the hidden costs of real estate.
Edmonton Tower has been sold to an investment management company. In one of many real estate transactions in Alberta, the particulars of the deal haven't been disclosed. The first phase of 27-storey, LEED-Gold office tower in Edmonton's ICE district has more than $2 billion of assets invested, and a similar amount is set for Phase Two. This particular area in downtown Edmonton has been earmarked for mixed use, sports and entertainment.
Lethbridge is on the move. The Alberta city is having a particularly good year when it comes to industrial-related real estate transactions. In fact, it has been touted as an industrial real estate hot spot. The second largest city in southern Alberta -- Calgary is the first -- is Agriculture and Agri-Food Canada's home. It is the largest agricultural research facility in the country.
It has been five years since much of Calgary saw horrendous flooding. There are some areas along the Elbow River with signage telling people to stay off the land that is owned by the province. Those six lots in that particular area are among dozens of real estate transactions since Alberta bought these properties for its floodway relocation program.
There's always a lot going on in the world of wheeling and dealing real estate. In Alberta, real estate transactions are indeed healthy as they are for most places in Canada with more local deals than ever. These transactions are different depending upon what has happened recently in their markets. For instance, deals in markets that have been hotter like Toronto and Vancouver are different from deals going down in recovering markets like those in Alberta.
British Columbia has seen its share of real estate deals from Wild Rose Country residents. But if Canmore has any say in the matter, more Alberta residents will stay in their home province to ink real estate transactions. With B.C.'s speculation tax that penalizes nonresident buyers, Albertans may look to their own province to purchase seasonal real estate. The resort town may look more appealing than ever.