July 4th, 2010
There is a transition going on in Alberta, where the young aggressive companies are getting the work contracts, and the slow inefficient companies are selling out. There is a little movement in the industrial sector, but not enough to fill the supply of Industrial space for lease.
The real estate prices in all sectors (Commercial and Residential) have been holding steady. What is happening, is that some sellers are more motivated to sell. In a rising market, sellers often don't care if a property sells "this" month because it'll be worth more "next" month. When the market is flat, a seller is more willing to work with each party that shows interest.
All in all sales have been good the first half of this year. So far this year, I've completed a number of investment and "owner user" deals (Apartment buildings, retail owner/user, and some leases where tenants are expanding). These are all good signs.
I was just recognized by Century 21 for a Centurian Sales award... so things are not all bad. :)
Talk to you soon.