At this morning's weekly meeting, club member Stephen Lau, President and Founder of Edmonton Home Pros, gave us a fascinating crash course on the current status of the real estate market here in Edmonton mainly but also in other parts of the country.
Get ready for more “skinny homes.” Understand that millennials have a huge effect on the market because they’re doing everything later in life—including buying homes. If you live in a huge house, think of downsizing soon because demand for big homes is dropping. Modernize/renovate your home if you plan on living in it for another 5-10 years; otherwise, don’t bother. Expect the real estate market to remain flat because of the uncertain economic and political situation. Etc. etc. etc.
Stephen, who organizes speakers/presenters for our weekly meetings, had to figure out how to cover the last-minute cancellation (due to illness) for this morning. He stepped up in a big way to be the speaker himself and outdid himself. Tons of info, a heap of insights, and an excellent handout to boot.
