Edmonton Real Estate Investor: Edmonton Alberta Real Estate

Government of Canada develops innovative cancer treatment

EDMONTON, ALBERTA--(Marketwire - Aug. 17, 2011) - "The Government of Canada is supporting the development of a new cancer radiation therapy device that could lead to more precise and life-saving treatment methods.

A federal investment of $2.5 million will support the University of Alberta, Alberta Health Services' Cross Cancer Institute and industry to develop, test and commercialize a new cancer radiation therapy technology called Magnetic Resonance Real-time Guided Radiation Therapy (MRrtgRT). In addition to federal funding, the Province of Alberta is also investing $250,000 towards the initiative, while the Alberta Cancer Foundation is contributing $2.15 million. Alberta Health Services and its industry partners, ASG Superconductors and Paramed, are contributing $1.1 million."

You might wonder why I included this article in an investment blog. I heard an interview on CBC Radio about this technology and was impressed, especially with the tenacity that UOA explores cancer research, treatment and cure. I'm also interested in how the UOA/government intends to bring this technology to market. When I talk about nanotechnology and medical leadership in Alberta, this is the tangible fruit that comes from it.

Residential property sales in Canada hold steady but property prices fall slightly

Thursday, 18 August 2011

"Buyer confidence, favorable mortgage rates and a healthy economy are resulting in higher home sales across Canada, particularly in Newfoundland, Edmonton, Labrador and Montreal. Even so, national average prices slipped for the month of July, although analysts believe this may be due to the retreat of home sales in more expensive neighborhoods in Vancouver, where sales were down. The sales in these more expensive areas act to skew national averages and result in some finding them unreliable, but on the whole observers believe the market will continue showing healthy numbers in the housing market.

Sales of residential properties in Canada were stable in July compared with the previous month with just over half of local markets posting gains, according to the latest statistics from The Canadian Real Estate Association.
Major markets that saw gains compared to June include Edmonton, Montreal, Newfoundland and Labrador. Activity also held steady in Toronto, while Vancouver recorded a small decline.

‘The continued stability in national sales activity shows that homebuyers remain confident about the soundness of investing in a home. Mortgage interest rates are low and keeping home affordability within reach, making it an excellent time for buyers to take advantage of very favourable financing,’ said CREA president Gary Morse"

Lower prices and NO sales is bad news. Higher demand, lower prices are fine as we wait for the economy to strengthen, rates to increase and the pendulum to swing back towards a seller's market - which will take a few years if the (global and provincial) economies can stay on track.

This is roughly how expensive (or affordable depending on your income) a Vancouver bungalow is... Remember, there's only one Vancouver though!

"The Royal Bank of Canada said yesterday it would take 92 per cent of the median household’s pretax income to own a bungalow in the city at current prices – the highest reading yet in its quarterly national survey on affordability.

The bank said most Canadian cities offered “reasonably affordable” housing options in the second quarter compared to the first. Nationally, a condo required 29.2 per cent of pretax household income (a 0.8 per cent increase), a bungalow 43.3 per cent (1.7 per cent) and a detached home 49.3 per cent (1.8 per cent).

RBC said it would take an income of $157,800 to buy a Vancouver bungalow in the second quarter, and that the average house price in the city was $822,300 – 19 per cent higher than a year ago."

Jack Layton's Letter to Canadians

I posted Jack Layton's letter today to celebrate a passionate man's life; not to share his politics. He always spoke with so much genuine enthusiasm its hard not to like his personality and respect his conviction. Although he left too soon, he left a very positive legacy that won't be forgotten anytime soon.

Dear Friends,

Tens of thousands of Canadians have written to me in recent weeks to wish me well. I want to thank each and every one of you for your thoughtful, inspiring and often beautiful notes, cards and gifts. Your spirit and love have lit up my home, my spirit and my determination. Read More

The Edmonton Real Estate Board reports that Edmonton market's key word would be stability. Although prices are the same as October 2009, meaning we've seen little appreciation in our investments, the market is moving and houses are selling. With many of our investments the fact the mortgage being paid is one of the three ways you profit. If one way falters you still have the other two:
1. Cashflow
2. Mortgage pay down (forced savings account)
3. Appreciation

There is no huge inventory like we saw last year. As the inventory decreases prices will increase. Probably not this winter but from spring 2011. So if you want to sell you're not going to get a price that is way out of line with the market but if you want to buy you can probably find some great deals. Everybody else stay tenanted and keep your property looking great!

There is something in the market for everyone great starter homes, investment properties and cash-flowing multi-family buildings. We're currently looking at multi-family units around Edmonton.

Click HERE to see some of the buildings we're looking at!

Recently we did a great interview for Canadian Real Estate Magazine. They wanted to show how Joint Venture benefit investors who want to get into real estate but don't have a lot of time or knowledge.

" Typically, joint-venture partnerships bring together veteran players who know local markets with investors who want a piece of the real estate game...That is where Todd and Danielle Millar a husband and wife team who established Edmonton based Glenn Simon Inc come in."

READ MORE DOWNLOAD THIS PDF

Harper Government Strengthens Canada's longterm economic plan - "Our government is investing in science and technology to strengthen the economy and improve the quality of life of Canadians,"

"This significant investment will help develop, attract and retain the world's best researchers at Canadian universities while strengthening Canada's long-term economic competitiveness." Minister of State Goodyear

"Tomorrow's prosperity depends on our ability to compete within a diverse, global economy — to get there, we need to start with competitive infrastructure," "World-class facilities are a magnet for global talent, and these funds make a tremendous difference in researchers' capacity to conduct leading-edge interdisciplinary research and discovery learning." Dr. Indira Samarasekera, President of the University of Alberta

Our government's efforts to attract the best and the brightest will not only improve our economy but also quality of life through research and discovery.

Alberta deficit predicted at $4.7 Billion - "The province says faltering markets, a stronger Canadian dollar, lower prices for natural gas and fluctuating oil prices continue to be factors contributing to the deficit.

"There is some good news," Morton said. "Canada is doing better than any other Western nation. Alberta is doing better than any other province.

"But we are an export-based economy, so what happens in the global economy affects us here at home."

That is good news that even with a deficit we a poised and ready to excel when the world economy regains it's balance. The one thing you will hear over and over again is that Canada and Alberta are in the best shape of the western world. Where else in the world would you put your money?

Fifteen Edmonton Districts Picked for Upgrades - "Fifteen Edmonton communities are scheduled to get new sidewalks and roads over the next five years, a city report shows."

"Initially, when we mapped this out, costs were still rising very quickly because of the boom"

“The good news was that costs have come in lower, because the economy slowed down and because we have a dedicated pool of funds we know will be there in future years, so we can enter long-term contracts” at a lower price. Councilor Don Iveson

Everywhere in Edmonton I see road work and improvements to infrastructure all this commits to a city growing for the future.

We went to the Stanley L. Milner Library the other day filled with slight trepidation as a couple young girls had been attacked there less than a month before. We both commented on how beautiful and citizen friendly the downtown area would be if it could be "taken back".

It looks like the City of Edmonton and ProCura Real Estate is ready to do just that with plans to build a 708 unit Mayfair village in the downtown area.

"A lot of the things we're doing here can be done elsewhere. The game changer for Edmonton is about downtown, and Mayfair Village is a component of that. If we can change downtown, we can change Edmonton forever, and for the better." Randy Ferguson, ProCura's Edmonton-based COO Read More

Programs like REACH will also work to taking downtown and giving it back to law abiding citizens.

Slowly and surely the change to downtown Edmonton is coming. Soon Edmonton will have a downtown worthy of it's economic prowess, growing wealth and innovative future.

Location, Location, Location! It is important, and our move back to Canada attests that simple fact. Even when your team is firing on all cylinders nothing beats the opportunity of speaking with a neighbor on the corner or meeting someone new in the park. Not only do you expand your network and make new friends, you're in a powerful position to be a problem solver and pick up some new properties.

  In the last week I've viewed 6 properties and have made offers on 2. Yesterday I found a 1950's bungalow listed FSBO a few blocks from my house. This seller's listing was a simple sign stuck in the front lawn - nothing online or in the paper. This property has potential for a suite downstairs and is in an easily rentable location.

  My team is trained to source out these kinds of deals as well, but everyone has their own niche, area and target. With eyes open and ears tuned in, we're able to attract that extra little bit of sweet deals. You're involved in that too. You're either benefiting as a partner and sharing in the profits or perhaps you have a friend of a friend that needs to sell in Edmonton. Give us a call. We can offer them and you the help needed.   

Edmonton's economy is stamping its big boots forward. Even though we're still in the 'W' for the next while, there is a definite, positive turn forward. Edmonton and Calgary will show the highest growth in Canada for the 2011-2014 period. Calgary at 4.4% and Edmonton at 4.3% which are very healthy numbers. Another great thing about living back in Edmonton is the 8:45PM sunsets! Great way to maximize your day.

Edmonton Mayor Stephen Mandel sees the sunny side of the "bust". He's not being a Pollyanna rather a realist who realizes the area as the economic powerhouse that it is.

Below are Mayor Mandel's quotes from an exclusive interview with Metro

“(Edmonton was) so overpriced that it was ridiculous,”

“What we need to do now is to retrench and plan for what we are going to do in the future.”

“(We) need to put in place a kind of infrastructure planning so we don’t face the huge growth, the huge pressure on our economic growth that has happened here over the last three or four years,” said Mandel.

“We rivaled the growth in China within the last few years an we will continue to do that when things settle down a bit (with the markets).

“Our economy in Edmonton will way surpass any other place in the country.”

And that, folks, is why I invest in Edmonton!

Edmonton detached bungalows are down 11.2% in price compared to the first quarter of last year, two-storey homes down 12.6% and condos are down 13.8%.

Because Alberta was one of the first places to feel market corrections before the economic crisis could fully be appreciated, it's assumed that it will be one of the first places in Canada to stabilize. If the rest of Canada can expect their home prices to start to appreciate again in the first half of 2010, then Albertans can hope for a market upturn a little earlier than that.

As the supplies decline and people come out of a winter deep freeze, when buying interest is typically low, the market will see more activity and eventually rising prices.

Now is a good time to buy a home or investment property because you can take advantage of low interest rates and a wide selection of properties at lower prices.

Jumping into '09 columnists continue focusing on the negative. Sure, things will get worse (especially in the U.S.) before they'll get better - but certainly, they will get better. What doesn't kill banks and businesses will make them stronger.

U.S. president-elect Barack Obama plans to travel to Canada for his first international trip after he takes office, to speak with Prime Minister Harper. Fingers crossed that Canada won't fumble the Oil Sands ball moving forward and gets off to a good start with the new President.

Its hard to imagine these current economic clouds passing, but when they do we should be left with a stronger and more transparent economy.

Local Picture Says Financial Fear Foolish

By Kerry Diotte
Edmonton Sun, January 8, 2009

"I've stopped looking at the monthly statements on my RRSPs and stocks these days. It's too discouraging. At last check I was down 75% of the actual money I'd put into the portfolio. What the hell: it's a paper loss, right? I'm hardly alone.

Besides, it seems the stock market these days is largely fueled by wild rumors, hunches and superstition. But, on a good note, the TSX has been largely on an upswing since its low in November." READ FULL STORY HERE

Wait-and-See Buyers May Miss Out on Deals

By Jennifer Podmore Russell
Calgary Herald, January 10, 2009

"We have come to the end of another year where real estate is one of the hottest conversations in town. The topic can be heard at the water cooler, in restaurants, at dinner parties and on airplanes. We talk about it because it affects us and because the continued correction in the market this fall was unexpected and driven by non-local factors." GRAB THIS ARTICLE

How to Stay Positive in a Negative World

Lorraine Pirihi, The Productivity Queen

Gail's Story:
"Gail is a friend of mine and she was relating to me for the hundredth time about the situation her brother was in. Gary is a nice enough guy. He's hardworking, honest and a good father. His only flaw is that he is extremely negative. After a five minute conversation with him, you feel like you've been hit by a bus." READ MORE

From Canada.com:

"How does a home that has been on the real-estate market for months suddenly sell for $100,000 over the asking price? The answer, according to a new HGTV series, is home staging, the art of neutralizing a home with upscale furniture and art to create a showroom perfect space. The Stagers exposes the high-pressure world of home staging, going behind the scenes at DEKORA, a leading Canadian home staging company.

The Stagers airs Tuesdays at 11 p.m. beginning July 1 on HGTV Canada."

I'll be sure to watch this because no sane seller would say no to $100k over the asking price.

Sales are falling across Canada while listings are surging in western Canada. Could it be the record cold winter where people just weren't interested in checking what was on the market? I think in Edmonton it's a lot of investors testing the water to see what the property they bought last year is actually worth or what they pull out with.

“Canada's six-year housing market boom is officially over. Aside from a few choice prairie locales, sales are melting faster than this year's snowpack,” Douglas Porter, deputy chief economist at BMO Nesbitt Burns

I'm not sure I agree with that blanket statement but I know this year is not the year to put your house on the market. Talking with a friend the other day she was certain she could get $450,000 for a property in Edmonton that frankly would pull 25% less with buyer incentives (vendor take backs, assumable etc). Her local "real estate expert" said put the house on the market and you will get whatever you ask.

Seems like a good example of why sales are dropping; with expectations like these no one will close the deal.

New Statistics Canada figures show that along with tradespeople, there is a huge surge of post-secondary school graduates choosing Edmonton over trendy spots like Montreal and Vancouver. Why because smart people go where the money is!

In Vancouver you can spend close to 70% of your income on housing, Montreal you can get a job but pay higher taxes than you would in Alberta.

Or you could chose Alberta with the lowest taxes in Canada, highest salaries and enjoy quite good housing affordability.

No wonder over 160,000 people have moved to Alberta over the last 7 years.

With a higher quality of life and virtually limitless opportunities Alberta is where young smart professionals are choosing to make their home.

A rental property has to have a lot of things going for it to ensure it puts money in your pocket. Nice location, above average amenities, sturdy construction, neutral yet stylish design and the list goes on. However, none of this will mean much if your property is overpriced.

The "put the For Rent sign out" and they will come mentality doesn't work in every market. If the market is tight and your vacancy rate is low you can rent for a little more but if the vacancy rate is increasing then your rent not only has to be in line with the market but also cover your expenses and reflect the quality unit that it is.

So...?

Someone brilliant has invented Rent-o-meter.com you simply fill in the fields for address, province or state, postal code, current rent, number of bedrooms and units in the building. Press the Analyze My Property and you get a clear spectrum of the average, high and low rents in your particular area.

The site not only shows you where you unit is on the "Rent-o-meter" but shows other rents of comparable properties in the area with pictures and addresses on a Google map. The property I put in was compared to 103 other units within 5.39 miles (8.67km) of my property.

Mind you there is nothing wrong with being on the high-end if you property is a real beauty.

Rent-o-meter works for Canadian, American and London locations.