Daily Market Update

by REP12 Feb 2015
Springtime to determine oil's effect on Alberta homes: Royal LePage
According to a report from Royal LePage, home sales in the spring real estate market will be the first indication of how lower oil prices have affected home sales in Western Canada. Chief executive Phil Soper told the Economic Club of Canada on Wednesday that job losses in the oil patch could lead to a “significant and extended downturn” in Alberta’s real estate sector. But Soper says the recent shortage of homes in parts of Alberta has created pent-up demand among buyers, which will mitigate some of the risks to the region’s real estate market.

Target deal approved by judge
An Ontario judge gave the green light to a compromise between Target Canada and its landlords over properties the retailer will soon leave vacant. The revised agreement, which was reached earlier this week but required court approval, gives Target Canada until the end of June to finish selling its store leases. Both Target Canada and its landlords agreed to have a court-appointed monitor supervise the sale in a deal which shifts control away from the company. The revised deal also addresses landlord concerns that delays could leave unoccupied properties in limbo.

Tricks realtors use to lock deals
MoneySense.ca has a top list of tricks realtors use to sell homes. According to writer Ramona King piece, the key is to find a realtor who can effectively use psychology without crossing ethical lines. Glossing over big costs, the upsell are just of the categories King mentioned about a realtors tactics when they're selling and dealing with buyers. More on their website. 

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