Skeletons In My Closet - 10/30/07 09:14 PM
What ‘skeletons’ do you have hidden away that may come out to haunt you? Sounds scary doesn’t it? And it could very well be….I was recently negotiating on a fairly large character conversion/reno project for an associate of mine. He had considerable experience with rezoning and land utilization but not so much with actual conversation and restructure of the buildings. He was so ‘pumped up’ about the potential project that I wondered how much in depth research he had conducted, as there seemed to be some sizable obstacles to overcome before getting the project to the final stage.I felt an icy … (2 comments)
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Haunted Alberta - Spooky Real Estate - 10/30/07 07:31 PM
Alberta Haunted Real Estate Who could resist? I should write about ROI's or the two great new properties we have picked up recently but all work and no play makes people axe murders! With help from two great sites, The Shadowlands and Zuko - Weird And Spooky Places, I was able to compile a few Albertan haunted houses.From Zuko1.Banff Springs Hotel - "One very sad and tragic tale involves a young bride and her elegant wedding party in the hotel's grand ballroom. It seems that on the day of the young woman's wedding, she was descending the ornate marble staircase in … (2 comments)
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Loonie At A 33 Year Peak - 10/30/07 09:16 AM
"Canada's dollar touched the highest since 1974 on surging demand for the nation's commodity exports, with oil reaching an all-time high.The Canadian currency strengthened as the U.S. dollar fell against 11 of 16 most-actively traded currencies. The Federal Reserve is forecast to cut borrowing costs on Oct. 31 to prevent the world's largest economy from slipping into a recession, which would eliminate the U.S.'s interest-rate advantage over Canada."Read Full ArticleOne U.S dollar buys 96.02 Canadian cents. Look out for the snowbirds! … (2 comments)
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Call Of The West - 10/28/07 08:23 PM
"The booming Alberta economy has maxed out the labour pool here," "It means employers here have to go somewhere else and with the manufacturing industry in Ontario facing massive layoffs there is an opportunity there." Ray Edwardson Organizer of the Workwest Career CaravanAlberta's labour shortage has over 30 companies including Greyhound, Lafarge and Century 21 setting up a job fair in Toronto November 3rd and 4th. Police, fire and transit services are also trawling for career minded people to pick up and move west. Royalties or no increased labour needs mean more people moving out west that will require quality, affordable … (4 comments)
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Tax Help For Cross Border Investors - 10/27/07 04:21 AM
Now with the loonie so strong and American real estate a bit of a steal Canadians are flocking to buy snowbird homes in the U.S. These cross border purchases can bring up some sticky tax issues. To make sure you have all your ducks in a row you need a good tax account. I have never used his services but David Ingram seems to have a large following.
From his website
"Your Source for Experts in Income Tax Preparation, Immigration, Real Estate, Investment and all manner of Cross Border Business and Personal Activities Advice and Information, Forms, Filing, Resources. Our Tax Preparers … (4 comments)
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This And That - 10/27/07 04:11 AM
Loonie remains strong despite new oil rules in Alberta - "The Canadian dollar continues to outperform major global currencies despite the negative sentiment associated with the new Alberta royalty regime" Was it all just doom and gloom?
Canadian real estate sales slip -"Sales in Canada's red-hot real estate market cooled in September, but average prices ticked up, according to new figures from the Canadian Real Estate"
Edmonton housing market regaining balance- I think it's quite remarkable how quickly those markets have shifted from sellers' to balanced. This is a good thing. I believe buyers will take their time and shop around, … (0 comments)
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Royalties- What Changes Are In Store? - 10/26/07 06:20 AM
Ed Stelmach's proposal includes:OIL SANDS*Introduce price-sensitive formulas before and after capital costs are paid out. The payments will slide between 1 percent and 9 percent of revenues with increases starting at an oil price of $55 a barrel and a cap set at $120 a barrel. Post-payout, royalties will be 25 to 40 percent of net profits.NATURAL GAS*Gas royalties will be set on a formula using price and production volume. New royalty rates will range from 5 percent to 50 percent with rate caps at C$17.50 per million British thermal units.*Royalties for natural gas liquids will be set at 40 percent … (0 comments)
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Royalties - Doom And Gloom or...? - 10/26/07 06:04 AM
I would be off my game if I didn't at least mention the very important, some would say shocking, announcement Ed Stelmach made announcing that, yes, Alberta will increase oil sands royalties by January 1, 2009.The increases mean that the money Alberta collects from the energy business could be a staggering 20% higher than the original forecast for 2010, which would equate to a $1.4-billion increase into the province's treasury. What started it all?A report by Alberta's provincial panel said royalties had not kept pace with world energy markets, that all projects in the booming oil rich region should be paying … (0 comments)
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Jungle Lessons - 10/26/07 03:29 AM
When I was younger I used to live wildly impulsively, within a set course plan. For example… I had an idea to travel to Indonesia and live in the jungle with an untouched, un-jaded ‘tribe’. I did so for six and a half weeks. I spent these days near starving, eating grubs and trying to hunt monkeys with poison darts. I kid you not. I trekked through the wettest jungle in the world to befriend not-so-long ago headhunters. I ran for my life while nearly being gored to death by wild boar…My hired guides and I trekked through the mud, took … (8 comments)
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What Have YOU Done? - 10/26/07 03:27 AM
Time flies when you’re having fun, right? Well it also flies when you’re just getting by and that’s why it’s essential that you stop, take inventory and adjust accordingly.News flash: It’s already November! You have just 2 months ahead before 2008. Forget about the proverbial glass being half empty, make sure it’s overflowing.Have you ever thought about your own mortality? As hard as it is to get your head around, you may not be here forever, at least not in body. How we choose to live each day is critical. I have to admit; sometimes I’m dreadful at this. I allow … (2 comments)
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Shuck Alberta - 10/26/07 02:59 AM
Alberta is one big sandy irritant, well at least that’s what Al Gore would have you believe. I’ve been hearing a lot from Mr. Gore recently about the oil sands and their role in contributing to global warming.First and foremost I think we as Canadians care about the environment and have always taken the steps needed to protect our beautiful country. Secondly, in my opinion the off shoot of the economic world growth, especially in China and India, will ultimately help improve living conditions around the world and over time, better equip us as a global community to deal with climate … (0 comments)
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Can't Wait To See This - 10/25/07 08:20 AM
The Discovery Channel's Worst Handyman 3 is coming to Edmonton!The huge boom has attracted the show because apparently booms and clumsy carpentry go hand in hand.
"With the boom there's lots of properties on the market, lots of movement in the market and lots of ham-fisted DIYs (do-it-yourselfers) messing it up," Canada's Worst Handyman 3 executive producer Guy O'Sullivan.
Edmonton's worst handyman will compete on the Canadian show, they will have a chance to renovate a home in Toronto over a two-week span in January with the person who nominated them for this ignoble award.
… (4 comments)
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Alberta Real Estate Investment - Hot New Deal - 10/23/07 03:07 AM
Hello Friends and Partners,I'm sure you know how important it is to buy during the 'slow time'.And I'm here to prove it to you with this great deal...Check out the details:*1956 Built 4 bedroom home, complete with in-law suite AND double detached garage.*Newly reformed throughout with top-notch touches and design: demands high rent and easy resale.*Listed at $378,000 and we have an accepted offer for $365,000. ($13K off list price and into your pocket!)(Next door is listed at $410K and isn't as nice)*Great mature area of Sherbrooke in West Central Edmonton. Desirable for resale and rapid appreciation (capital gains)*Highly Rentable area … (0 comments)
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Inspiration For Investors - 10/21/07 09:13 PM
Richard Homburg of Homburg Invest Inc. owns 136 investment properties, including residential and office complexes in Alberta and Montreal. He dropped at a school at 12 went to work in a bakery and through the power of his dreams became Canada's Donald Trump. "I believe you have to have a plan in life, you have to have a dream. You have to be a dreamer, almost, to succeed in where you want to go.As a kid, I dreamt about what I wanted to do. I dreamt about going to America, I dreamt about going to Australia or Canada, so I had … (2 comments)
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Slow and Steady - 10/19/07 05:14 PM
For many Canadian cities 2007 was incredible year of real estate price gains. Real Estate markets cooled with the weather and the four biggest Canadian markets have slowed since August. Saskatoon, Calgary and Edmonton all saw big increases over the last year and thanks to the slight cooling in these cities, buyers have a lot more choices to pick and choose from. "Buyers in [Alberta] will likely take more time to shop and remove some of the steam from price increases," CREA chief economist Gregory Klump.This shift to a buyers market is a "long time no see" event in the Edmonton … (2 comments)
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Edmonton Housing Market - Balance Shifts - 10/16/07 06:38 PM
As we all have seen, the Edmonton housing market went from a frenzy of multiple offers to a large amount of product sitting on the market. This shift in the market left sellers having to reduce their listing price or offer buyer bait in the form of assumables.CREA's third quarter report puts Edmonton at a middle ground between a buyer's and seller's market. With increased listings on the market at 21% to 41% higher than last year buyers are taking their time before purchasing.“I think it's quite remarkable how quickly those markets have shifted from sellers' to balanced. This is a … (6 comments)
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Reduce Your Sale Time - 10/16/07 06:23 PM
P.J Wade of Realty Times interviewedDr. Paul Anglin, currently a University of Guelph's Associate Professor of Real Estate and Housing in the Department of Marketing and Consumer Studies in the newly-created College of Management and Economics. His three year study used listing information provided by the Windsor Real Estate Board. With data from more than 20,000 houses, including those that did not sell, Dr. Anglin's resulting study, entitled "House Prices and Time-till-sale in Windsor," attempts to quantify the trade-off between time on the market and sale price as a reflection of selected list priceThe study revealed (on average)over a 3-year period:* … (7 comments)
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This and That - 10/16/07 06:07 PM
Albertans - Grumpiest In Canada?- "It seems money can’t buy happiness as a new poll says Albertans are the grumpiest in western Canada" After the incredible rise in their investments they should feel a little happy. The Sky isn't Falling on Canadian Homeowners - "household wealth has reached unprecedented highs, thanks to years of solid, uninterrupted economic growth accompanied by falling unemployment and rising home and stock prices." Scotiabank Group economist Adrienne Warren. Canada's overall economy is in excellent shape and the most prosperous, though grumpy, province is Alberta.Rich Man, Poor Man: Two Sides of Canadian Housing - "A new report … (0 comments)
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Renting vs. Owning - Who Hits Paydirt. - 10/16/07 08:06 AM
A quick excerpt on the R.O.I of renting versus buying.
"The results of this research show that only renters who are highly disciplined, savvy investors are able to match the wealth that owners can accumulate simply by making their mortgage payments," says the study. "If they meet these criteria, in the best scenario for renters, they can accumulate over 24 per cent more wealth than owners in Edmonton, Halifax, Montreal and Regina, and they can accumulate at least as much wealth as owners in Ottawa, Vancouver and Winnipeg. In Calgary and Toronto, renters cannot on average over our study period match … (2 comments)
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The Blind Men and the Elephant - 10/12/07 02:56 AM
A community of blind men once heard that an extraordinary beast called an elephant had been brought into the country. Since they did not know what it looked like and had never heard its name, they resolved to obtain a picture, and the knowledge they desired, by feeling the beast - the only possibility that was open to them! They went in search of the elephant, and when they had found it, they felt its body.One touched its leg, the other a tusk, the third an ear, and in the belief that they now knew the elephant, they returned home. But … (6 comments)
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From Comment To Post - 10/11/07 05:19 PM
I got this comment on my blog a few days ago.
"....That aside, I don't know how you can suggest that Edmonton is going to have massive price increases. Considering there is already loads of inventory, concerns about low gas prices, lack of affordability, wages have not kept up with house price increase, rent vs. buy economics are in favour of renting and brutal investor rental property P/E ratios. Really, why should someone buy? Come on and quit lying to us about further price increases.
By the way, Calgary house prices have NOT lifted out of a plateau. They have declined for past three … (8 comments)
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Do You Know The Alberta Advantage? - 10/11/07 07:47 AM
A marketing term, "branding" if you will, of a province by the genius that is Ralph Klein. The Alberta Advantage was used to promote, well, Alberta's advantages to the world. From giving Alberta shaped cheques (can't find proof of this but I heard it on a podcast -urban legend?? folklore??) to charities to opening Alberta offices in countries around the world; Klein started a highly successful marketing campaign for a province like it was the hottest new product around. And do you know what? It is."Entrepreneurial-ism" and business are what Klein promoted; one look at Alberta's blockbuster economy shows that he … (2 comments)
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Alberta's Environmental Strategy - 10/10/07 09:10 PM
The oil sands are striking when you see them. It is hard to imagine this area was once pristine prairie land and will ever be that way again. Many environmentalists worry that Alberta's environment will not be protected with the incredible growth in the province. The government has laid out clear targets for air quality, water management framework - to ensure water quality and quantity are protected, and has established guidelines to protect the land in the region. Somel effective immediately or within the next few months to years."As we face unprecedented growth in our province, with development on a scale … (0 comments)
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The Gauntlet Has Been Thrown - 10/09/07 05:04 PM
Contender 1 - West Edmonton Mall Edmonton,Alberta Stats-largest mall in Canada-third largest mall in the world-covers a gross area of 570,000 m² (5.3 million ft²)[1] -cost C$1.2 billion to build-over 800 stores and services[3] -parking for more than 20,000 vehicles -more than 23,000 people are employed at the property -receives 28.2 million visitors per year -between 60,000 and 150,000 shoppers daily (varies by day and season)-currently valued at $926 million
Contender 2 - Lac Mirabel North of Montreal, QuebecStats-grand opening is scheduled for 2009 -(when finished)the mega-mall will cover an area twice the size of West Edmonton Mall, with 14 million … (0 comments)
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It's A Bird! It's A Plane! It's LRT - maybe - 10/08/07 08:58 PM
Albertan are interested in Light Rail Transit and most, nearly 75%, say they would use it - in a recent poll done by The Calgary Herald."A new poll done exclusively for the Herald shows 70 per cent of Albertans would ride high-speed rail if it were to become a reasonably priced reality in the supercharged corridor from Calgary to Edmonton.While the province awaits a feasibility study on high-speed rail, this Leger Marketing survey also reveals two-thirds of Albertans support investing taxpayers' dollars in a bullet train."The Edmonton Calgary corrider is an economic power unto itself any transportation between the two cities … (4 comments)
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Growing Ring Road Will Grow Profits - 10/08/07 08:47 PM
Tired but true is the "Location" aspect of real estate. The hottest areas can usually be found near growing road ways that make commuting to work and pleasure areas convenient and fast. Bidding on Anthony Henday Ring Road north section has started; the 21km leg from Yellowhead Trail on the west side of Edmonton to the Manning Drive Freeway will improve traffic conditions and reduce the commute to the city center and upgraders. Savvy investors know that housing prices in this area will rise, although the road is only in the bidding stage now is the time to pick up properties … (0 comments)
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Giving Back - On Thanksgiving - 10/08/07 08:33 PM
Edmonton's Boyle Street Co-op gave back to hundreds with a hot traditional turkey dinner. Students and volunteers prepared for about a week for the massive dinner and hoped to feed 1800 people."This may be the only meal that these people get that is warm," student Corey Wren told CTV Edmonton. "I couldn't take food away from someone who needs it," he said. "I have more than enough food at home."This year marked the 16th Thanksgiving Dinner event held by the Boyle Street Co-op.
… (2 comments)
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Once Again - Edmonton Best In The West - 10/08/07 08:24 PM
It's not just my opinion. Edmonton and Alberta have won a slew of awards for being cost competitive, amount of corporate projects and expansions."Edmonton has been named the Number 1 metro area in Western Canada for business investment based on the number of capital projects and expansions taking place in the region...." Edmonton Economic Development CorpTo Read The Full Article Click Here Edmonton attracts business and projects from all around the world and with these projects come workers who need housing.In September alone Edmonton gained 1300 jobs with Alberta's unemployment rate the lowest in Canada and investments into the city growing … (0 comments)
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More To Be Thankful For Than Usual - 10/08/07 08:08 PM
Canada's stellar economy, low un-employment rates and strong dollar leave Canadians a lot to be thankful for on this Thanksgiving Day."We live in a time of plenty. Our country is experiencing an exceptional period of harmony. Our governments in Ottawa and Quebec are in minority postures, which are notionally unstable but surprisingly functional most of the time.On Friday, StatsCan put out the best labour-market report in 33 years, which is to say in nearly two generations. Unemployment fell to 5.9 per cent in a country in which six per cent, because of our generous social safety net, is considered full employment. … (3 comments)
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