north east condo property values

[PhilipHauck]

Can some one please help meout with this one. My condo values in the north east have dropped substantially and my west end condo has held much the same as my purchase price. This is only going by comparables.
Thanks for any input.
Philip Hauck

 

[kanabel]

QUOTE (PhilipHauck @ Feb 11 2009, 06:19 PM) Can some one please help meout with this one. My condo values in the north east have dropped substantially and my west end condo has held much the same as my purchase price. This is only going by comparables.
Thanks for any input.
Philip Hauck

Hi Philip,

What city are you talking about? Edmonton maybe?

Dejan

 

[PhilipHauck]

QUOTE (kanabel @ Feb 11 2009, 07:59 PM) Hi Philip,

What city are you talking about? Edmonton maybe?

Dejan
Yes, sorry, that would help. Edmonton it is. Victoria trail

 

[kanabel]

QUOTE (PhilipHauck @ Feb 11 2009, 08:27 PM) Yes, sorry, that would help. Edmonton it is. Victoria trail

I have rental properties outside Edmonton at this moment, but value of my personal residence in Mosaic Parkland (West End) which I bought in March 2007, has decreased from $315k to about $240k right now. It`s over 20% decrease I believe. I don`t know where EREB gets their info but apparently price drops in Edmonton are much higher than 6%. In addition, peak price for this property was $360k in May/June 2007.

Dejan