Glenn Simon Inc., Suite 1217, 5328 Calgary Trail NW, Edmonton, Alberta, Canada. Tel 1-888-780-5940 Fax 1-888-276-4517
www.glennsimoninc.com email: info@glennsimoninc.com
April 1st., 2014
Volume 16, Issue 5
Dear Friends and Partners,
So, what’s up with Edmonton’s housing supply?
That’s what all the Realtors and investors are asking. Aside from Town Houses, every property type is depleted. Almost every Realtor I know is begging their would-be sellers to list (please!).
I think Edmontonians feel the economy moving and are waiting for the ‘best time’ to list their property for top dollar. The fact that inventory is so low is making even the ugly or poorly located properties get attention. That same attention is making some sellers both greedy and lazy. I’m seeing many poorly maintained properties, lax rents and sloppy ads (what kind of property IS that anyway?).
I’m starting to feel that the bulk of sellers may hold off until NEXT spring and I think if that happens that the massive influx of ‘new’ property may over quench the demand and temporarily stall prices. That’s only speculation as the market may see any number of other scenarios just as easily. I’d prefer to see a gradual listing of new properties from now into winter, creating a normal price gain rather than a concentrated spike up (or other).
The townhouse market is still plentiful and if you’re looking to buy, you have many choices. Small multifamily, suited homes and regular SFR in good condition/location continue to sell fast. Be quick and thoughtful when getting your offers in.
South Central Edmonton: Cashflow in this Bonnie Doon, Suited Bungalow
Turbo charge your portfolio.This suited bungalow is located on a treelined street, across from Bonnie Doon Mall.
This 1953 built property has a front entrance for the upper 3 bedroom unit and a rear entry for the lower 2 bedroom suite.
The lower unit has been nicely renovated and the top floor is in great shape.
Our renovation team will add a few tweaks to modernize the units and make certain that they comply with safety regulations, but its ready to go! There is shared laundry down, a 2 car detached garage as well as stall parking for 6. Great access to UOA, Whyte Ave., downtown and Saskatchewan Drive.
Comes complete with great tenants making this a totally turn-key property for you. Convenient south area with easy access to transit and downtown. Bonnie Doon is a sought after, mature area with plenty of schools, parks and amenities. Highly rentable; solid value and increasing rents. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this property in relation to Edmonton's desirable growing core.
Purchase price: $349,000
Total Investment: $81,979
Your Estimated 5 Year Profit: $49,532
Your pre-tax Total ROI is 60% or 12% per year
These 2 suites rent for top dollar and have everything arranged, including financing structure and incredible tenants. Your investment includes: impeccable tenant selection, financial analysis, professional inspection, insurance, financing set-up, legal fees, basic accounting, reserve fund, CMA, bi-annual statements, strategic market planning to ensure successful entry and exit, plus much more!
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Gunter: Downtown boom has nothing to do with arena
By Lorne Gunter, Edmonton Sun, March 24th, 2014
Until about 10 years ago, I worked downtown. Most days after 5 p.m., you could fire a canon off in any direction and not hit anyone.
It was hard to find a place to eat that was open. There were a couple of donair places, a sub shop, a doughnut place or two. Rice Howard Way had a fish-and-chip pub and a few hotels had decent restaurants. At lunch there were many choices, but not at dinner.
If you were the rare individual who lived in the core (between 97 Street in the east and 109 Street in the west, and 98 Avenue in the south and 104 Avene in the north), you needed a car (or cab) to shop for groceries. The nearest grocery store was 20 blocks west or across the river in Garneau.
But no longer. FOLLOW THIS ARTICLE
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City looking to spruce up some of Edmonton’s old shopping sites
By Caley Ramsay, Global News, March 21st, 2014
EDMONTON – The City of Edmonton is working on a new pilot project aimed at sprucing up some of the city’s older community shopping sites.
“We’re talking about these older neighbourhoods that were planned in the 50s and 60s, where there’s a pocket of neighbourhood commercial embedded in the community,” said Walter Trocenko, with the city’s Housing & Economic Sustainability department.
“That pocket of neighbourhood commercial would have had the drug store, some small bakery, the butcher shop.”
The city’s ‘Corner Store Program’ would see some public dollars used to help revitalize older buildings in Edmonton’s mature neighbourhoods. READ MORE HERE
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Canadian home sales: How healthy is your housing market?
By Staff Writers, Financial Post, March 17th, 2014
Canadian existing home sales edged up 0.3% in February, breaking a five-month run of declines, but the national view doesn’t tell the whole story.
Nationally, home sales are up 1.9% from a year ago, but BMO senior economist Robert Kavcic says markets vary widely across the country with half of Canada’s largest cities reporting a sales dip from a year ago.
To get a more comprehensive view here’s Kavcic’s survey of the health of the country’s major markets, from strongest to weakest: GRAB THIS STORY
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I appreciate all your calls and emails. I'm looking forward to helping you with your next step towards building real wealth.
Your success continues EVERYDAY, let me help you build for tomorrow.
“Pessimism leads to weakness, optimism to power ." - William James
Warm Regards,
Todd and Danielle Millar
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P.S. Stay ahead by checking out Danielle's blog at Edmonton Real Estate Investor for all your cutting edge market news and information.
P.P.S. Don’t forget to visit our website and take advantage of the Resource Tools and product section including REIN's #1 real estate books and Quick Start homestudy sets at a discount. Get your copy of the Canadian Success Stories book and the 2010-2014 Top Ten Investment Towns of Alberta and Ontario.
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