Owner: Edmonton Real Estate Investor URL:http://edmontonrealestateinvestorabroad.blogspot.com/ Join Date: Wed, 17 Oct 2007 04:37:54 -0500 Rating:0 Site Description: Focused on the economic power house region of Alberta, Canada, we use an incredible team of lawyers, realtors and property managers to purchase revenue real estate. From our dual offices in Japan and Edmonton, we manage a multi-million dollar portfolio fo Site statistics:Click here
Edmonton Housing Market - Balance Shifts 2007-10-16 18:25:00 As we all have seen, the Edmonton
housing market went from a frenzy of multiple offers to large amount of product sitting on the market. The shift in the market leaves 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 good thing. I believe buyers will take their time and shop around, and that should take some of the steam out of price increases,” said Gregory Klump, chief economist at CREA.Read Full Article Here Read more:Housing
, Market
, Balance
Reduce Your Sale Time 2007-10-16 18:09:00 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:* Smaller houses sold faster while increased time-til-sale (TTS) was the case for properties with 5 or more bedrooms.* Bungalows and side-splits sold at the same pace, but condominiums, ranch-style and "rental" properties took more time.* TTS differed significantly by location while properties outside the City of Windsor consistently
This and That 2007-10-16 17:47:00 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 iss
Renting vs. Owning - Who Hits Paydirt. 2007-10-16 07:56:00 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 Read more:Renting
, Owning
The Blind Men and the Elephant 2007-10-12 02:49:00 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, which Read more:Blind
From Comment To Post 2007-10-11 17:08:00 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 turned Read more:Comment
Do You Know The Alberta Advantage? 2007-10-11 07:28:00 A marketing term, "branding" if you will, of a province by the genius that is Ralph Klein. The AlbertaAdvantage
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 productiv
Alberta's Environmental Strategy 2007-10-10 20:40:00 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 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. 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 cum Read more:Strategy
The Gauntlet Has Been Thrown 2007-10-09 16:23:00 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 planned Read more:Thrown
It's A Bird! It's A Plane! It's LRT - maybe 2007-10-08 20:47:00 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 Read more:Plane
Growing Ring Road Will Grow Profits 2007-10-08 20:34:00 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. Read more:Growing
Giving Back - On Thanksgiving 2007-10-08 20:25:00 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. Read more:Giving
, Giving Back
Once Again - Edmonton Best In The West 2007-10-08 20:10:00 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 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 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. Read more:Again
, Once Again
More To Be Thankful For Than Usual 2007-10-08 19:34:00 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 table g Read more:Thankful
Some Worry.... Some Profit 2007-10-03 17:00:00 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
Real Estate Tools For New Investors - Canadian Specific 2007-10-03 16:18:00 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 Read more:Tools
Gloom And Boom! 2007-10-03 16:07:00 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 and Read more:Gloom
This And That 2007-09-27 21:19:00 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 mark
Calling For Hike In Oil Sands Royalties 2007-09-27 21:03:00 "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 Read more:Calling
, Royalties
Killing For A Loan? 2007-09-27 20:54:00 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 deve Read more:Killing
Small Slips Don't Equal Big Dips 2007-09-27 20:03:00 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 Read more:Small
, Equal
This and That 2007-09-27 18:14:00 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 estat
This And That 2007-09-12 19:43:00 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 00:53:00 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 be a Read more:Market
, Crisis
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Tips From Real Estate Guru Don R.Campbell 2007-09-09 18:58:00 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 fundamenta
Slow and Steady 2007-10-19 16:26:00 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 market; CREA records show that the last sellers market was in 1997. Sellers wanting to cash out are flooding the Edmonton market with their "investment" properties, giving investors who know and understand the economic fundamentals of the area a chance to pick up great deals. For those who are looking to invest, getting your price or terms is more likely than it was five or six months ago.
Can't Wait To See This 2007-10-25 08:14:00 The Discovery Channel's Worst Handyman 3 is coming to Edmonton!The huge boom in Edmonton, Alberta 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.
Alberta Real Estate Investment - Hot New Deal 2007-10-23 03:02:00 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 near transportation improvments, access to Oil refineries and Downtown.The Deal:*ALL financing FULLY ARRANGED, No need to qualify. You can leverage your money further.*Total estimated investment required: $84,133.00*Your Profit is estimated at: 23% annually*Approximately 23% of PURCHASE price. Now that includes all legal, closing costs and reserve Read more:Alberta
, Estate
Inspiration For Investors 2007-10-21 21:00:00 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 my mind set that that's what I was going to do, and I had my mind set that I was going to be in business, I had my mind set that I was going to be successful. I had my mind set about what car I wanted to drive and all the things I wanted to do.You follow your dreams."His latest procurement is the $355 Million 17-storey Montreal Central Station Complex which sports a CN train station at the bottom.Read The Full Interview Read more:Inspiration
, Investors
Call Of The West 2007-10-28 20:10:00 "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 housing.
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