A drop in global oil prices may favor consumers, but it also cuts the revenue of companies and oil-producing countries. It has considerable implications, for instance, on Canada, the world’s fifth largest oil producer, where the oil and gas industry contributes around $50 billion to the national economy.
B.C. Premier Christy Clark remains optimistic, however. During the recently concluded B.C. Natural Resource Forum in Prince George, Clark expressed her belief that adapting to these changes will help the local energy industry resist fluctuations in oil prices. It is also worth noting that other natural resource sectors like liquefied natural gas (LNG) are growing strong.
The province has plans to export LNG to Asia via Malaysian oil and gas giant PETRONAS. It may take a while before the project kicks into high gear, but Clark wants to make sure everything is covered, e.g. fulfilling environmental requirements, consulting First Nations, investing in major preparations, and so on.
The Fort St. John area, in this case, will be a key player. The Montney Basin, which stretches along the Rocky Mountains as far as eastern Alberta, contains an estimated 449 trillion cubic feet of extractable natural gas, enough to supply Canada alone for 145 years. From there, LNG will be transported via pipelines connected to the coastal areas like Prince Rupert and Vancouver.
As numerous construction and oil rig jobs are generated, this city in the Rockies will be bustling with even more economic activity. More workers and their families will pour into the city, increasing demand for basic necessities such as new homes for sale in Fort St. John, B.C. People who seek suitable investment properties are also expected to take note of these developments.
Top REALTORS® like Scott Sauer are in the best position to help buyers and investors find the right homes in Fort St. John, primarily by conducting a comparative market analysis (CMA). By determining how homes fare in a localized setting, sellers can derive the right price for a certain property. The CMA uses data from as early as last year and covers pocket markets (i.e. one’s prospective property as well as houses on the next street).
Those looking to invest in the thriving housing market that is Fort St. John and surrounding areas can use CMAs to their advantage. The result reflects a win-win situation: the buyer will see the value as fair, while the seller is able to use his home equity to look for a new and even larger residence. At any rate, those who seek the kind of homes for sale in Fort St. John, B.C. that make for cash flow positive investments would do well to work with a trusted REALTOR® like Scott Sauer.
(Source: "Clark confident in LNG future," The Prince George Citizen, January 22, 2015)