Global Credit Crisis

I've seen the effects of the Global credit crunch like all of us have, banks failing, real estate foreclosures and the drastic slowdown in the Global economy. I was finding it truly hard to understand why and how this all happened, until I came across this video on the Internet. This is the best explanation of the current Global credit crisis I've seen, and I wanted to share it with you. It's well worth the 11 minutes to watch it. http://crisisofcredit.com/

In October 2008 in Canmore we saw the failure of Solara Resort, a 214 room luxury condo hotel that was 90% complete and scheduled to open for Christmas of 2008. This Property is still in Receivership. This weekend we learnt that Three Sisters Mountain Village has also been put in to receivership. TSMV owns the largest piece of land that can be developed in Canmore. The whole land is 1800 acres (see Jessica Stoner's blog for all the information at http://www.jessicastoner.ca/). These two failures are absolutely due to the Global credit crisis and will both be incredibly beneficial to Canmore as a town as we move along the path to recovery in our real estate market. I believe that both these failures will be the catalyst for our market recovery and buyers will be once again be in the drivers seat, being able to buy condos and homes at bargain prices. A real estate market in turmoil we are not, yet - but we are teetering on the edge with both eyes fixed firmly on the drop. Market's in turmoil can be mine fields, they also present the most significant opportunities for real estate investment that Canmore has seen in a decade. In the past Canmore has not been overly attractive to long term investors as rental income rarely covered the high cost of purchase, however, given the decline in real estate values Canmore is now a prime location for investors looking for real investment opportunities. The need for accurate inside knowledge about this market is critical. Jessica and I are in constant contact with the building community and are well versed in what is really going on in Canmore. We know the lemons, but more importantly we know the bargains and we can even give you the low down on upcoming deals that offer unprecedented value in our town.

For more information on these real investment opportunities contact me at soldbyrichard@gmail.com or on twitter @soldbyrichard