Edmonton - North American City Of The Future Award - 04/28/07 11:22 PM
 
The Edmonton Economic Development Corporation (EEDC) issued a news release that Edmonton received three "Cities of the Futures" Awards."Edmonton has the best economic potential of any large city (500,000 - 2 million population) in North America according to an independent index published by Foreign Direct Investment magazine (FDI).This strong economic potential, combined with growing infrastructure, good human resources, cost effectiveness and a high standard of living has resulted in Edmonton also capturing the No. 4 spot on FDI’s list of top-10 North American large cities. Edmonton has the added distinction of being the only Canadian city to appear on the top-10 … (0 comments)

This boom may never go bust - 04/28/07 11:04 PM
Rob Carrick my new hero. His article is up there with my last post from economist Paul Krugman.
"Homeowners in the province know that, and so do shareholders of a few Alberta real estate companies and REITs, or real estate investment trusts. Take apartment landlord Boardwalk REIT - it's up 88 per cent in the past 12 months and a total 175 per cent in the past three years."
Click Here to read his outstanding though stock heavy article on why Alberta's boom will not go bust.
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How Big Is Alberta? Mideast Big. - 04/28/07 10:57 PM
 
  Paul Krugman Top Economist 
Alberta oilsands area is as rich as the middleast but with more diversity. In fact economists say that "diversity preferable to oil sheikdom""The oilsands are as if we had suddenly discovered a new major Middle Eastern oil producer, which... is not actually in the Middle East. It's a wonderful thing," Krugman told the luncheon audience.However, he added, a diversified economy is much more preferable for Alberta's future development. "You do not want to become an oil sheikdom."Krugman believes the current oil boom - unlike previous ones in the 1970s and 1980s - is sustainable. This time, … (3 comments)

Labourers Westward Ho! - 04/27/07 06:08 PM
Alberta's boom and subsequent labour shortages are slowing down attempts to improve Edmonton's stressed infrastructure."Potholes half a metre across and 10-cm deep are a nuisance on any street, and when they started dotting a major Edmonton corridor driven by more than 120,000 vehicles a day, the city started to act"Edmonton's road department secured funding to fix the stretch of Whitemud Dr., then put the project out for tender and waited.For the first time in history, there wasn't a single bid, said Joe Kabarchuk, director of roadways construction: "We were shocked." If you are a contractor or skilled labourer you are sorely … (0 comments)

We Did It Again! - 04/27/07 06:05 PM
Canadian national resale housing activity hit a record high in the first quarter."National resale housing activity reached the highest level of any quarter in the first quarter of 2007, with a seasonally adjusted total of 129,219 homes sold in Canada during the period, according to the Canadian Real Estate Association."Guess who led the pack?"New quarterly records for activity were set in Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Prince Edward Island and Newfoundland and Labrador, while sales activity in Nova Scotia also reached its second-highest quarterly level."I feel like I have been cutting and pasteing this entry every 3 months! Click Here … (2 comments)

Tax Hike For Edmonton Home Owners - 04/26/07 07:58 PM
I'm pretty benevolent about taxes. I think they are inescapable and thus should be borne as well as possible. Taxes rise on properties because property values rise. "Homeowners will be hit with a property tax hike of nearly 7% this year, after the increase was approved yesterday by city council.""That's huge, huge dollars," said Scott Hennig of the Canadian Taxpayers Federation."Edmonton SunPeople tend to react to taxes negatively but I use them as a marker of how well I am doing financially. The more I am paying the more I must be earning/making. Don't get me wrong I don't love taxes … (0 comments)

The Ripple Effect - 04/26/07 07:41 PM
Alberta Canada's economic wonderland is helping revitalize a dying Texas town. Alberta is a wonder province - look what it did to Saskatchewan real estate prices. Thank You Oilsands.
"The Lone Ranger rides again in Texas -- but this time with Alberta playing the hero in a real-life economic drama of rescuing jobs on the high northern plains of the Panhandle." Edmonton Journal
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This Old Heap - 04/24/07 06:39 PM
Found this article in the Edmonton Sun online. I have never seen this house but imagine living next door:"One year ago, Capital Health declared the handyman's nightmare "unfit for human habitation."Among the 29 reasons cited for the condemnation: no siding, no furnace, no running water, no stove, an exposed attic, a basketball-sized hole in the roof, cracks in the foundation, water infiltration with resulting mould in the basement, and human feces in the backyard due to an unflushable toilet."Once they couldn't use the toilet anymore, they were dumping (fecal matter) out in the backyard," environmental health officer Chris Rolfe told the … (2 comments)

The Results Are In - 04/24/07 06:28 PM
Here we go stability without stifling the market. One year's notice for a condo conversion is a little long if you are an investor looking to do flip out condos you will have to budget for that year. This will definitely help slow down the market.
"The Alberta government is changing some of the rules governing rent hikes, but won't go as far as implementing rent control, Housing Minister Ray Danyluk announced Tuesday.
Under changes to be introduced in the legislature, landlords will only be allowed to increase rents only once a year instead of twice. And landlords wanting to kick … (0 comments)

Gouging Renters - My Eye - 04/24/07 05:44 PM
"Every renter in Alberta is in danger of being gouged because of the Conservatives' refusal to protect them from huge rent increases," Martin told a news conference. "This government has chosen to listen to the interests of the big landlords and real estate investment trusts like Boardwalk rather than those of ordinary Albertans,..." NDP MLA Ray Martin Edmonton Sun Opinion Kerry DiotteI'm just not feeling it. Of course the newspapers are on and on about the evil "Big Landlords" who are raising rents $500 a month, twice a year. What about the last 3 or 4 years when rents were next … (0 comments)

Lower Down Payments - 04/24/07 08:34 AM
Sorry I am a little late on this one. The federal government passed a bill to lower the mortgage downpayment requirement to 20%."The new legislation within Bill C-37 affects all mortgages or loans on residential property and requires that borrowers carry mortgage default insurance when the loan-to-value exceeds 80 per cent. The previous 75 per cent maximum loan-to-value had been in place for 40 years."Source RBCThis will really help people in overpriced markets. Take Vancouver where housing affordability for a two story home is at 73.5% of local median household income that 5% will make a difference in the outrageous amount … (2 comments)

Land Crunch - 04/22/07 10:30 PM
Yesterday was my day off so my husband and I went for a bike ride to see a Surrealism exhibit at the Tochigi Prefectural Museum. I remembered I don't like surrealism except for Salvador Dali.On the way there we stopped at an open house by one of the largest home builders in Japan. Seikusui House (pronounced "sexy house"). So for a 1290sqft house we were looking at $400,000, granted it was near the university. This is a suburban area where the houses are jam packed; I mean the neighbour coughs and you hear it. This price is reasonable because it includes … (0 comments)

Concert Tax? - 04/22/07 06:52 PM
Just stay home and buy the DVD. The mayors of both Edmonton and Calgary, the Alberta Urban Municipalites Association and the Alberta Association of Municipal Districts and Counties have put forth a report with a list of new and unusual taxes. "Not only have the big city mayors dreamed up a horde of new taxes - including their own oil and gas royalties (they call it "raising the necessary revenues from resource utilizers") - they want the Tories to set up "formalized regional agencies," that will have the power to "address cost and revenue sharing issues.""Already on the list is a … (5 comments)

Price Of Prosperity - 04/19/07 09:33 PM
Alberta is expected to reveal it's biggest budget ever, $33 Billion over three years, which will be dedicated to the provinces infrastructure. "The money will build and fix roads and schools and finance construction projects in Alberta, which has seen 100,000 newcomers arrive in the last year to join a roaring economy driven by soaring prices for oil and gas." OilweekWith the province bursting at it's seams and more and more newcomers expected and desperately needed to fill the labour requirements of the oil sands, it seems a prudent action.
 
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Property Transfer Tax - Good, Bad, Ugly? - 04/19/07 09:17 PM
EDMONTON Real Estate Board is rallying against a proposed property-transfer tax. EREB has concerns that the new tax will reduce affordability by increasing the cost of an average Edmonton house by $4,000.The Minister’s Council on Municipal Sustainability, released a report last month which recommended that the province authorize municipalities to collect six new or expanded taxes and levies including a property-transfer tax. This proposed property transfer tax is still in discussions so the tax rate has not been decided. Carolyn Pratt of EREB has anticipated the tax at 1%. “This is a home-buying tax,” EREB president Carolyn Pratt said today in … (4 comments)

Learn From The Rich - 04/18/07 01:15 AM
Liz Pullman Weston does it again. I love her articles. Read 5 Lessons The Rich Can Teach You
Becoming wealthy is not rocket science. It is hard work and living under your means.  That is all. I think a lot of people don't understand that driving a flash car doesn't mean you have a flash bank account.
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Best Wishes And Deepest Sympathy - 04/18/07 01:14 AM
To all the people who are affected by the Virginia Tech incident. Please know our Best Wishes and Deepest Sympathy are with you. … (6 comments)

More Women Entering The Housing Market - 04/17/07 07:33 PM
Royal Lepage Real Estate Services released a poll today indicating that more and more women are buying and repairing their own homes. Some 30% of single never married women and 45% of divorced, seperated or widowed women are homeowners. More younger women plan to buy their own homes rather than rent. They aren't waiting for Mr. Right to buy a home with. They also say they would forego a large wedding reception to have a bigger downpayment to put on their first home. The poll gives regional information for Edmonton:"Edmonton has experienced an increase in women buying real estate on theirown … (0 comments)

Again Edmonton Leads In The West - 04/16/07 09:59 PM
Edmonton once again leads in residential sales for Canada West. March was a record breaking month."The biggest percentage gains continued to be primarily in western cities. Edmonton's year-over-year price appreciation of 47.8 per cent leads all cities. Saskatoon's price gain of 28.2 per cent and Calgary's 27.6 per cent rounded out the top three."The great thing about Edmonton is that prices will continue to rise due to the labour needs (among other things) of the oilsands - more people coming to look for a limited supply of housing. Edmonton also has an undervalued residential market. It may slow down this year … (0 comments)

Ontario's Alberta - 04/15/07 10:06 PM
Don R. Campbell the best selling Canadian real estate novelist, analyst and instructor has labeled the Kingston-Waterloo-Camberidge area of Ontario as "the economic Alberta of Ontario".His research is based on 13 key factors:"He looks at whether the average income and population are increasing faster than the provincial average, if there's more than one major employer, and if major transportation improvements are in the works. The $400 million-plus Red Hill Valley Parkway in Hamilton that's due for completion this year fits with that criteria, he said.""Transportation drives future value more than just about any other factor," Campbell said. "Distance isn't the issue, … (0 comments)

Info A Click Away - 04/15/07 07:29 PM
EREB the Edmonton Real Estate Board puts out quarterly and monthly statistics for the Edmonton. You can get this information from the website directly. The is a lot of data there that is useful, for example the quarterly stats has average residential selling prices dating back to 1967. … (0 comments)

Is It Me Or Is WOM Old School? - 04/13/07 08:23 PM
It is funny that old school refers to rap and rap refers to talking and talking refers to word of mouth. For me old school is Run DMC and Beastie Boys - generation gap? W.O.M is a three letter acrynom for the oldest form of marketing, ever. Like when Thag told Urg that the hunting was really good upstream rather than in the plains or vice versa.Do you remember when people told you about how good the bread was at Johnny's Bakery or how Tom down at the garage gives free tune ups if you fill up on a Sunday? I … (3 comments)

Well Hanami Is Over - 04/13/07 07:55 PM
The cherry blossom have finally fallen off the trees. I personally find this time a little sad. I know I know, fresh start, spring has begun etc... Really, though, when they are in full bloom it reminds me of an Akira Kurosawa film I saw when I was 17. I believe it was Dreams. There was one scene it was fantastic with all these beautiful kimono clad women walking under beautiful mankai (full bloom) cherry trees. Leaves fluttering down like pink snow. … (0 comments)

A Little Marketing Help - 04/13/07 07:03 PM
Anybody in business needs to do marketing and if you are online you need to learn about web marketing. I have signed up for an excellent marketing newsletter Marketing Profs. It really has a lot of good web marketing info, research and ideas. I can always find some good nugget improve my blog or website. … (4 comments)

Skink On The Loose - 04/12/07 09:10 PM
My cat just brought home a skink and in my attempt to save it I let it loose in the house. It is under the fridge any suggestions? At least it is still alive though. I don`t mind picking them up if they aren`t mangled.   Danielle
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Edmonton - #4 of Canada`s Top 5 Gay Town - 04/12/07 09:01 PM
Edmonton the oil rich capital is shrugging it`s cowboy image, unless of course you are thinking of Broke Back Mountain (which was actually filmed in Alberta). I was recently reading a travel article The Out Traveler: Canada's Top 5 gay cities and Edmonton ranks number 4."A fresh crop of smoke-free gay and lesbian bars and clubs teems with life in the burgeoning gay village of Jasper Avenue, a two-block area with half a dozen gay businesses. Staff shirts in Prism proclaim good girls go to heaven; bad girls go to Prism, although as it's the only girl bar in town, it … (2 comments)

Sherwood Park Average Price $400,000 - 04/12/07 08:59 PM
Edmonton residential prices have increased 16.5% since January. Unbelievable. As usual no signs of slowing down. The city is still affordable, prices are still rising and it is still no.1“Edmonton is still affordable compared to Vancouver, which has an average of $590,000,” said Pratt. “(Edmonton is) certainly not in that range yet.”She said she expects the increases to continue, especially through the busiest months of real estate, which are April, May, June and July. The market will then likely stabilize for the remainder of the year, she said. Carolyn Pratt, president of the Edmonton Real Estate Board (EREB.)read full article … (0 comments)

Canadian Starter Homes a Bargain - 04/12/07 08:57 PM
Internationally Canadian starter homes are a bargain compared to other major city centers. Edmonton fares well at $322 per square foot, about the 10th ranked."..But not only do first-time homebuyers who work in the downtown business districts of Canada’s largest cities generally pay less per square foot for their homes, they also tend to enjoy shorter daily commutes than their peers in cities around the world.."For The Full List … (2 comments)

A Quickie About Mortgage Fraud by Danielle - 04/09/07 07:30 PM
When I was a crazy teenager I used to tell my cousin all the stuff I would get up to. She would hold up a fork close to her eye and peer at me to see, "How you would look behind bars". I can pretty much guarantee that no one looks good behind bars so take heed.Mortgage fraud is rampant. Don`t lie on your mortgage application. The banks don`t care who told you it was okay to write what. Just tell the truth. It is a crime and if you get caught there will be a lot of grief especially if … (0 comments)

Invincible by Danielle Millar - 04/08/07 07:54 PM
I want to talk about a movie I saw last night. Probably everyone in the Western Hemisphere has seen it already but I am in Japan that means we are just getting "The Departed". Have you seen Invincible? A Walt Disney football success flick starring Mark Wahlberh or as anyone in my generation knows him Marky Mark. Basically anything with Marky Mark and/or football is a sure rental for me.The movie is based is the true story of Philidelphia native Vincent Papale. In the 1970 the 30 year old bartender entered the open tryouts the Philidelhia Eagles had, and made the … (3 comments)

To Enforce Or Not To Enforce? That IS The Question - 04/08/07 06:52 PM
Unlike B.C and Ontario there are no government enforced rent increased guidelines in Alberta. Landlords are free to raise their rents as much as they like every six months.These rent hikes are important to make the property investment work, of course most landlords work with integrity and raise rents in reasonable increments.
 "....a young family facing a total rent increase of $375. They faced a hike in December and one that's coming in June. They'll wind up paying $1,175 for their north-end condo, a full 50% of their take-home pay." Kerry Diotte
However, after a 52% increase in real estate prices last … (1 comments)

From "Scrap and Build" to "Revitalize and Renovate" - 04/04/07 07:39 PM
When I talk to our Japanese associates, they are always interested to learn that in North America buildings actually increase in value with age. In Japan the "scrap and build" mentality has ruled the real estate industry for years. A house`s life span is a max of 20 to 30 years,so when they speak of property they actually mean the land.Recently with the stagnate economy many young people can`t afford to build their own home. Outside of major city areas housing prices can start at $500,000 to buy land and build a house,the land price being the larger portion of that … (0 comments)

The Grey Area - 04/04/07 07:15 PM
 
The Cochrane Times published and article today about the rise of Fraud in Alberta. Fraud IS on the rise and yes it COULD happen to you. The Alberta police force gave some tips on how to avoid internet fraud. They are as follows:* Be cautious when you go on the Internet - if an offer sounds too good to be true it probably is.* Keep your online bank password secret and change it often.* Look for the 'lock' icon in your browser. This means that you are conducting a secure transaction.* Be wary of e-mails requesting your personal information.* Use good … (0 comments)

It`s Hanami Time! - 04/03/07 05:18 PM
The coming of spring is always apparent in Japan. The cherry trees, Sakura, start blooming all around the city and country. Trees that were indistinct through the winter blossom over night and the foresight and eye for beauty of the city planners is instantly apparent. Hanami (literally flower viewing) is my favorite time of year. Not only does it mark the anniversary of my expatriation to asia but it really reminds me that, Hey, I live in another country! Believe it or not it is easy to forget.Everyone goes to the park or mountains and sets up a picnic area with … (4 comments)

IF You are interested In Edmonton, Alberta or Alberta Tar Sands - 04/03/07 07:55 AM
It`s over! It`s over! I hear this all the time... Is Edmonton`s run over? NO. Canadian Business Magazine agrees with me. They published an article today that quite clearly states the Edmonton is NUMBER 1 in Canada to invest in  and it`s not just because of the oil."HOT: EdmontonWith a one-year average price increase of 10%, the oil city is Canada's only major market that has a trifecta of strong demand, tight supply and affordability. And it's not only because of the oil and gas boom." Canadian Business MagazineTrifecta, I have always seemed to associate that word with the dark side … (0 comments)

If You Want To Be A Millionaire - 04/03/07 04:13 AM
I read "So You Want To Be A Millionaire" by Liz Pulliam Weston a few months ago and I really liked it. Everyones idea of what a millionaire is and what millionaires really are like is completely different. As "The Millionaire Next Door" showed millionaires are not flash, they aren't extravagent, they don't wear gold and diamond encrusted rolexes. "Most of the millionaire households that they profiled did not have the extravagant lifestyles that most people would assume. This finding is backed up by surveys indicating how little these millionaire households have spent on such things as cars, watches, suits, and … (0 comments)

 
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Todd & Danielle Millar

Edmonton, AB

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