Chinese investors are showing keen interest in Calgary. They are apparently making increased inquiries regarding the residential real estate market in Alberta's Cow Town. Some Calgary realtors have said that they have made significant sales to some Chinese investors.
The Beverley Hillbillies didn't have it this good. The residential real estate market in Alberta just got a little richer with a $15.5 million estate in Lacombe County recently put up for sale. The Gadsby Lake estate, tucked away in the Shorthills, is one of the province's most elaborate properties.
Buying a home can be an exciting venture. For some Alberta couples it is the next step in a relationship. But there are certain things unmarried couples should know when it comes to residential real estate -- there are some differences when a couple isn't legally married.
Edmonton may soon turn into the land of pork chops. Residents living in the Alberta capital have received the green light to subdivide their land into lots that resemble pork chops. Indeed, pork chop lots -- also known as battle axe, hammerhead or flag lots -- take one larger lot and turn it into two smaller ones. This is a residential real estate experiment by the city of Edmonton to get new builds started in inner city neighbourhoods that are sparsely populated.
It seems that Fort McMurray tops the list of the most affordable housing in Alberta. Residential real estate is on the upswing in this Alberta community that has seen its share of problems in the last few years -- especially from devastating forest fires that nearly razed the entire population centre. Using the home price-to-income ratio, Fort McMurray wins the top prize for affordability.
When a homeowner says he or she will be downsizing, it usually means moving into smaller digs. In Alberta, that's not always the case when it comes to residential real estate. In Alberta, downsizing may not mean leaving a home at all. Alberta baby boomers may consider downsizing to mean staying put and revamping what's already been in the family for years.
Homebuyers will be happy to know that they have lot of homes from which to choose this summer. Alberta's inventory when it comes to residential real estate is looking healthier than it has in a while. In fact, a local realtor says he has never seen so many homes on the market in the 15 years he has been in real estate.
Summer is a time in many parts of Canada when the risk of forest fires is at its highest. There are parts of Alberta, like the Fort McMurray area, that are especially susceptible. When it comes to residential real estate in certain parts of the province that are more apt to experience fires, mortgages can be affected, especially if homeowners have been evacuated, the home has suffered damage or is completely razed by fire or if a fire causes a person' employment situation to change.
The oil industry has had its ups and downs, but oil has always been one of the primary commodities in Alberta. It's not surprising that this has had some effect on other areas, including residential real estate sales. The economy works like a machine -- when all parts are oiled, the entire system runs smoothly. So, when the oil industry took a few major punches, the entire province felt the pain.
In Canadian cities like Toronto and Vancouver, the dream of home ownership is likely to remain just that. Even following the introduction of stricter federal mortgage rules, the cost of buying a house in one of these cities remains decidedly out of reach. So how are young Canadians finding their footing in the real estate market? Calgary condos and homes appear to be the answer.