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This and That
2007-10-17 00:47:00
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 by Royal LePage says sales of luxury homes are "skyrocketing" across Canada.Another report from Statistics Canada looks at the other end of the housing market, reporting that 14 per cent of Canadian households (1.7 million) are facing affordability issues because of high shelter costs." A large percent of those facing affordability ...

Renting vs. Owning - Who Hits Paydirt.
2007-10-16 14:56:00
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 the wealth achievable through home ownership."Click Here To Read Article
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The Blind Men and the Elephant
2007-10-12 09:49:00
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 when the other blind men questioned them, their answers differed. The one who had felt the leg maintained that the elephant was nothing other than a pillar, extremely rough to the touch, and yet strangely soft. The one who had caught hold of the tusk denied this and described the elephant as, hard and smooth, with nothing soft or rough about it, more over the beast was by no means as stout as a pillar, but rather had the shape of a post. The third, wh...
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From Comment To Post
2007-10-12 00:08:00
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 months losing about $33,000 from their peak. Stats are at www.bobtruman.com This is more like 1984 than 2004 with real estate agents STILL claiming massive price gains. The economic climate has changed as mentioned in my previous post. So quit equivocating what happened in 2004 to what is going to happen in the next year." DustinI think it is a common question/fear people have. My reply turn...
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Do You Know The Alberta Advantage?
2007-10-11 14:28:00
A marketing term, "branding" if you will, of a province by the genius that is Ralph Klein. The Albert a Advanta ge 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 was more than successful. This is the Alberta Advantage from Wikipedia :"The Alberta Advantage illustrates, using widely accepted performance indicators, that Alberta is leading the way in these areas and is progressing toward its vision by capitalizing on the exciting opportunities that are available… * a strong and vibrant economy * a young, skilled and produc...

Alberta's Environmental Strategy
2007-10-11 03:40:00
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 Albert a'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. Some effective immediately or within the next few months to years."As we face unprecedented growth in our province, with development on a scale we have not seen before, we must be assured we balance that growth with the protection of the environment," "Albertans must know that their government is looking at the big picture and preserving our environmental heritage for future generations."Alberta Premier Ed Stelmach The actions include:- all large industrial facilities within the industrial heartland will be subject to a ...
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The Gauntlet Has Been Thrown
2007-10-09 23:23:00
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 millionContender 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 square feet of retail, residential and commercial space-total investment is expected to top $1.2-billion-three-hundred retail outlets are planned-a food emporium-border a man-made lake and a river stocked with trout-A $100-million, million-square-foot sports complex will house an 8,000-seat arena for major junior hockey-also plann...
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It's A Bird! It's A Plane! It's LRT - maybe
2007-10-09 03:47:00
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 would allow commuters more choices than flying or a 3 hour drive."The continued population boom in the corridor, already home to about 2.3 million people, along with technological advances in transportation systems around the globe have spurred Albertans to back the project..."Read Article
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Growing Ring Road Will Grow Profits
2007-10-09 03:34:00
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 in this area.
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Giving Back - On Thanksgiving
2007-10-09 03:25:00
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.
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Once Again - Edmonton Best In The West
2007-10-09 03:10:00
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 West ern 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 HereEdmonton 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 we can expect big things for this northern diamond especially if you are in Real Estate.
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More To Be Thankful For Than Usual
2007-10-09 02:34:00
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. In September alone, the economy grew by 51,000 jobs."Of Canada's rising star has more than any province to be thankful for,"And Alberta, well, what can you say about an economy with a jobless rate of only 3.6 per cent, while fast-food restaurants continue to close because they can't find people to flip burgers? Let the good times roll." READ ARTICLESo at the dinner tabl...
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Some Worry.... Some Profit
2007-10-04 00:00:00
Prices in Alberta have rising so much in the last few years. These are a few of the properties and profits we have brought to our clients. These numbers are based on appreciation and equity pay down. They do not include taxes paid at sale. If you would like to see more deals like this please visit our website www.glennsimoninc.com or contact us at info@glennsimoninc.com for more information.Deals like this come up all the time and with the market we are in now is a great time to pick up an investment property. HazeldeanBeverlyTorbay300% Partner's Profit Since Purchase 1/2005 263% Partner's Profit Since Purchase 4/2005313%Partner's Profit Since Purchase 12/2005 CaernarvonWeinlosRadcliffe234% Partner's Profit Since Purchase 11/2005 214% Partner's Profit Since Purchase 2/2006178%Partner's Profit Since Purchase 2/2006YouvilleLymburnKirkness215% Partner's Profit Since Purchase 2/2006113% *Partner's Profit Since Purchase 11/2006 48% Partner's Profit Since Purchase 12/2006
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Real Estate Tools For New Investors - Canadian Specific
2007-10-03 23:18:00
The Edmonton - Calgary Corridor in Alberta, Canada presents investors with the most dynamic and growth oriented regions in North America. *Find the best towns to invest in - increasing profits.*Learn economic fundamentals behind Top 10 cities.*Meet like minded investors.*Canada specific content.*Learn how to invest on fundamentals not emotion.REIN is Canada's largest investment group with over $1Billion in Canadian Real Estate REIN Home - Learn More About Canada's Largest Real Estate Group Quickstart Live! -Canada's #1 Real Estate Seminar. Quickstart Homestudy - Canada's #1 Real Estate Home Study Course. RRSP Secrets - Using RRSPs In Real Estate. Renovation Secrets - Renovating and Flipping Houses for Quick Cash System Top 10 Towns Reports - Research Report by Canadian Real Estate Expert Don R. Campbell 97 Tips For Real Estate Investors - Canadian Specific Content
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Gloom And Boom!
2007-10-03 23:07:00
I’ve thought of the ultimate Halloween costume this year. Imagine dressing up as a ‘sub-prime mortgage meltdown’ and banging on doors trick or treating throughout the U.S. I’m sure that this would be one of the scariest costumes folks have seen in awhile. Like many fears, once exposed, explained and understood they lose their bite…. Well in Canada anyway.The sub-prime mortgage situation definitely has a wide arc and the ripple that it affects include; U.S. borrowers resulting in higher foreclosures, tighter lending criteria and potentially higher rates for commercial property buyers, credit card debtors, home builders, discount and luxury retailers, stock markets, industries such as metals and mining, hedge and mutual funds, currencies, Northern Rock in the U.K. and....You get the point. But this is the result of damage control instigated over a year ago. Despite all of the media gloom, there are many regional real estate markets in the U.S. that continue to perform well a...
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This And That
2007-09-28 04:19:00
Real estate boom swells ranks of the house-poor - "I think what we're finding is people are over-mortgaged with very little room for an increase in the interest," Rob Warren, a University of Manitoba business professorBUT"It's good debt. It's secured, you've got an asset and it's growing," said Ruth Berry, a family social sciences professor at the University of Manitoba.Rising Inflation In Edmonton- "What you've got is an influx of people coming into Edmonton. In the short run, there will be a shortage of housing, which will drive up prices.In the long run, you would think more land would be developed and more houses would come on the market. It won't skyrocket forever." Karim Jamal business professor University of AlbertaWhen you are talking about the short run in the Edmonton real estate market we think in terms of 5 to 7 years. The oil sands have 200 years worth of oil in them but it doesn't take that long to make a profit in this market.Dodge warns of inflated housing m...

Calling For Hike In Oil Sands Royalties
2007-09-28 04:03:00
"A government-appointed panel reviewing Alberta's energy royalties called Tuesday for the oil-rich Canadian province to increase its total take from the energy industry by 20 percent a year, or roughly $2 billion Canadian (US $1.97 billion; €1.42 billion)."How will this affect the Albertan Economy?1. Albertan will see more more of the Oil Sands revenue in infrastructure and perhaps more rebate cheques.2. Oil companies worry that rising royalties may slow or hinder production.With the oil prices rising and Alberta's 175 Billion barrels of oil, second only to Saudi Arabia, many companies will pay the royalties to participate in what may be the biggest economic boom of the century.READ MORE
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Killing For A Loan?
2007-09-28 03:54:00
This is a really sad article that I came across from CTV.com. A business man and father of three was slain for a mortgage that fell through."Two men accused of orchestrating and carrying out the murder of successful Calgary businessman Jack Beauchamp appeared in court on Monday.Friends and family of Beauchamp, a 49-year-old father of three and former president of commercial mortgage lending company Morbank Financial, crowded the Court of Queen's Bench in Calgary for the start of a trial that is expected to last four weeks.Beauchamp was found fatally shot in the head and chest on Jan. 16, 2006, surrounded by shell casings in the hallway of the 12th floor offices of the firm he founded.Robert Deer, 54, and Mohammed Karim, 25, are charged with first degree murder.Calling it a planned and deliberate crime, Crown prosecutors Sue Kendall and Pamela McCluskey told the court that the accused plotted the murder after a real estate deal went sour.Kendall told the court that Deer planned to d...
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Small Slips Don't Equal Big Dips
2007-09-28 03:03:00
YES - housing prices have slipped in Alberta, but is it really the big drop that everyone fears?"August's (nationwide) decline was due largely to drops in Alberta, where the average price in Calgary fell $13,000 to $423,801 and Edmonton's average slipped $8,100 to $345,809."NO - what we are seeing is a slight softening of the market. After such a meteoric rise in housing prices over the last 18 months we need a correction. Don't forget Alberta's economics are undoubtedly the best in Canada."With the province expected to post economic growth of 4.3 per cent this year, growth is expected to moderate to between 2.5 and three per cent for 2008-09 due to rising costs for labour, production and infrastructure.""The promise of oil sands projects, combined with assets such as a young, educated population and an excellent business climate, bodes well for the region," TD Bank economists Don Drummond and Derek Burleton
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This and That
2007-09-28 01:14:00
B.C. Housing "Afford ability" Drops - "While Vancouver remains the country's most expensive real estate market, the largest affordability slides over the last couple of years have been suffered by Saskatoon, Edmonton and Calgary.Alberta is still, however, avoiding British Columbia's stressed affordability conditions..." RBC economist Derek HoltAlthough housing affordability in Alberta has dropped over the last year housing is still more affordable than many Canadian cities.Unwavering demand supports rising Canadian house prices in third quarter - "The oil sector remained a bright spot for Alberta and continued to fuelbuyer demand; however, the rate of price appreciation and the intensity of thehousing market scaled back from where it was 14 months ago."The market is scaling down, and that is what happens with incredibly hot markets. This softening will last about 6 months. We consider it a great time to pick up good deals that will appreciate.Housing Highs Still Showing - "Real es...

This And That
2007-09-13 02:43:00
Turn Alberta Into An Energy Superpower "I believe we now have an opportunity -- an opportunity unlike any other in our history,...A once-in-several-lifetimes opportunity to transform ourselves forever." Kevin Taft Alberta's Liberal Party Leader MoreYour 30's are a crucial make or break time financially "Your income is rising, but so are your expenses and debts. Most families in this age bracket have children, who, wonderful though they are, tend to boost living costs." Liz Pulliam Weston MoreOil Prices Hit Record High"Crude oil prices briefly rose to a record $80 a barrel in New York Wednesday before easing back down." More

Could The U.S Housing Market Crisis Happen Up North?
2007-09-10 07:53:00
Two articles today had interesting view points:"Here at home(Canada), only about 5% of mortgages are of the sub prime variety (I prefer the more explanatory, "sub credit-worthy"). Experts insist the crisis is simply not as great a threat to Canada. But it's still a threat.Canadian high-ratio mortgages - loans where the purchaser has only made a down- payment of 20% or less of the purchase price - have to be insured for default by the government-backed Canada Mortgage and Housing Corp. or one of the private companies that perform this service. The insurance covers the lenders' losses, not the borrowers', which, to say the least, is an important distinction.Using that backup, some lenders, even the big banks, approve mortgages with zero down. In addition, an alarming number of folks almost routinely increase the value of those loans in lockstep with the increasing price of their properties. Instead of basing the maximum loan value on a borrowers' ability to repay, there seems to b...
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Tips From Real Estate Guru Don R.Campbell
2007-09-10 01:58:00
If you are Canadian, interested in investing and haven't read Don R.Campbell 's books then you really, really should. His Canadian specific content and great down to earth advice are much more relevant to Canadians than American authored Real Estate books. His Books:Real Estate Investing In Canada97 Tips For Canadian Real Estate Investors51 Success Stories from Canadian Real Estate Investors (12/5/2007 publish)Here are a few fantastic tips taken from Canada's Real Estate Investing Guru:Real Estate Investing Tips From Don Campbell* “Don’t listen to anyone -- including me.” Do your own homework and find a system that forces you to ask the tough questions.* Target older properties, not brand new units. “With some renovation work, you will add value to the property.”* Avoid buying pre-build properties. “Pre-builds are not investments, they are speculations. You have no idea what will happen in three years.”* Analyze the property and make a clear decision based on fundame...

What Does Plummet Mean?
2007-09-06 23:56:00
Decrease rapidly in a value.Looking over my Google alerts the last few days Edmonton's prices have fallen anywhere from $115 to $10,000 to $14,000. Which goes to show that if you depend on day-to-day news reports you may find yourself on "hysteria lane".I understand that Edmonton's market is bigger and stronger than a 6 month buyer's market because the economics are strong and the city has international appeal. So much so that the city was awarded Best Place For Business Investment In The West These awards aren't given to cities on the verge of a bust cycle. "With Alberta's economy still red hot, oil prices remaining high, and $150 billion worth of oilsands projects, upgraders and related work in the pipeline, no one is forecasting anything like an '80s-style housing crash, of course.In fact, quite the opposite."Read MoreCarolyn Pratt president of Edmonton Real Estate Board said "buyers have more choice" due to the increase in listing on the MLS.ca also that "it all has to do ...

Best In The West
2007-09-06 23:21:00
Another feather in the city's cap...Edmonton was given the title of Number 1 metro area in West ern Canada for business investment, this is based on the number of capital projects and expansions taking place in the region says Edmonton Economic Development Corp (EEDC).Alberta comes in first as the most competitive province in Canada. “A hot economy, cost-competitiveness and support for research and innovation combine to make Edmonton an attractive location for businesses and careers to thrive,” said Ron Gilbertson, president and CEO of Edmonton Economic Development Corp."To Read The Rest Of The Article From Alberta Index Click Here

Minimum Wage Increase
2007-09-05 00:34:00
"Alberta's minimum wage rose from $7 to $8 this Labour Day long weekend. The raise brings Alberta in line with the provinces of British Columbia, Ontario, Quebec and Manitoba, which all have $8 minimums.The Northwest Territories, Yukon and Nunavut all have slightly higher minimum wages.Minimum wage is lowest in the Maritimes, where it ranges from $7 to $7.50 an hour." Read MoreI don't think this will have much of an impact as less than 1.7% of wage earners in Alberta are earning minimum wage. I hear countless stories of fast food restaurants trawling the teenage customers offering incredible salaries because there just isn't anybody to do the work.
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Inspiration From Donald Trump
2007-09-05 00:17:00
Excerpts from Bo Bennett’s article ‘Year To Success’ 7/07Success is dealing with change, both positive and negative. The Donald Trump story is one of the most amazing stories of financial roller coaster rides there is. He went from real estate billionaire, to being close to $900 million dollars in debt, back to billionaire in a relatively short period of time.Success is making your own mark, regardless of your upbringing. Donald was raised in a well-to-do family and had many opportunities and advantages in his youth. Despite his privileged upbringing, he did not inherit anything and went on to fame and fortune through his own business accomplishments.Success is making the right connections. When Donald first moved to Manhattan, he was practically broke. Regardless, he squandered what money he did have to join one of the city's most exclusive clubs and met some very influential people.Success is having an attractive personality. Donald Trump is funny, smart and honest. ...
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Avoid The Rough Seas Of Mass Hysteria
2007-09-04 23:55:00
I was on a battered old excuse for a barge sputtering along noisily between the many islands of Indonesia. I had just nearly escaped being eaten by a Komodo dragon and was fighting for a place to stretch-out on above the slosh of saltwater, sweat and other unfortunate body fluids (or remnants of lunch) while en route to Sumbawa. I’d been traveling in Indonesia for nearly 5 months, learning the culture and geography of the land.Indonesian people are always friendly. They kindly greet every traveler with a loud “Hello Mister!” regardless of gender. But one strange consistency I experienced was that some Indonesians don’t travel well. Buses, ferries and trains were always packed full of travel sick locals. In Indonesia it’s easy to gorge oneself on the sweet and greasy foods offered at odd hours of the night and then get sick on whatever mode of transport you’re on and whomever you’re near.On this occasion the seas where a bit choppier than usual and the boat quaked and...
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Re-gentrification- The Dream Maker
2007-09-03 23:44:00
Although the price of Edmonton Real Estate has increased by almost 77% over the last 18 months, young families are still able to afford housing IF they buy in older areas.Alberta Ave know for being, tough, crime ridden and cheap is where young families are forced to buy when they $170,000 doesn't fit into the new $417,000 price tag that most housing in Edmonton sports. Eric Feddes and Krista Polley of Edmonton decided that extreme renovations in the rough neighborhood was the way to go."A realtor took them to a rickety two-storey house with boarded-up windows, no bathroom and the lingering smell of human waste. Needles were scattered all over the basement floor and there were remnants of a grow-op.The place had one big advantage, though - they could afford it."We knew we could fix it up, but we didn't think it would be easy," says Feddes.They got to work - new furnace, plumbing, wiring, windows, doors, bathrooms, walls and paint. As they walked nearby streets, they saw the scene r...
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Seven Months and $18 Billion
2007-09-03 15:07:00
Calgary's high end sales lead to a blockbuster year with the capital city selling 326 properties at a value of over $18Billion by July in 2007."Residential real estate sales in Alberta so far this year have ballooned to nearly $18 billion in total dollar volume, a jump of almost 36 per cent compared to a year ago, according to the latest data by the Canadian Real Estate Association"Read MoreThe Alberta market is incredibly active and constantly breaking records. The sale of high end properties of over $1 million reached 326 by the end of July. The prices of houses in the Calgary area rose from $398,870 in December 2006 to $505,920 buy July'07.As it is often said Edmonton's market closely follows Calgary's and it isn't hard to believe that we will be seeing prices like this in Edmonton next year.
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