As the investors are running away from having their money invested into Edmonton real estate, it happens to be that there are still real estate deals that will prove to be lucrative for investors.
Wayne Weum who happens to be an investor that observes Edmonton and its neighbouring vicinity told a news reporting website that it is very important for people to be aware of their surroundings and pay attention to the areas and places they plan on investing their money in. The focus should be on the economic outturn in places and the influences economic factors can have on towns, investors should never give a blind eye to these areas.
It can’t be ignored that the real estate segment of Edmonton has taken a downturn, with the oil industry following alongside. Sales in the town have also fallen down in the past two years. In June 2016; the gross sales for that month went down by 10.1% over the years as 2,063 houses were purchased and sold off over and over again. With the same pattern happening to the prices, although at a more reasonable pace. Normal homes in the town of Edmonton are at a sale of $372,671, which has declined by 0.6% over the years. Most investors are fleeing from Edmonton as other markets in Canada are going through the same price gains.
Wayne does not feel intimidated or threatened by the situation of the market, he believes that his thought up strategy is idealistic to prove that the fundaments involving speculations cannot be altered and will remain stable. He said “I’m still buying; I’m looking at mainly private sales and I’m looking at expired listings. People aren’t getting the money they want and they are willing to let properties go for a better price. “When I role in, I’m going to say, I’m going to give you ‘X’ amount of money but I can close with you in a week and I can offer no financing conditions. I can come in with cash. I can avoid prolonging their pain.”