Tuesday, November 21, 2006

Edmonton Real Estate Is Still In A Tough Spot

Edmonton, Alberta has seen a rise in the conversion of apartment buildings into condominiums. The rise in real estate prices in the city, about 40 percent in the last year alone, has buildings switching to collective ownership. Of course this is not great news for everybody. The renters that cannot afford to buy into the new condo building are being forced out of their homes. Edmonton already has a rental shortage and condo conversions add to the problem. CBC.ca Has the full story and the problems involved.

Quebec and Discount Brokerages

Discount brokerage Proprio Direct was fined in 2001 for practices not inline with the province's real estate code of ethics. Proprio Direct charged a flat fee up front in order to sell a client's property. This type of fee is not inline with the real estate association standard of a percent of the selling price of a property, after the sale is complete. The Montreal based firm has fought the fines every step of the way, and now the decision is going to the Supreme Court. Use a real estate website and save thousands is what I would say. The full article can be found at Canada.com.

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