Edmonton Real Estate Investor

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 more.

"Albertans do not receive their fair share from energy development."

"The energy industry has been a phenomenal driver," "It not only affects Alberta ... It's going to set the direction for where this industry goes and where Alberta goes the next five to 10 years." Greg Stringham, vice president of the Canadian Association of Petroleum Producers

Alberta has been negatively compared to Venezuela where President Hugo Chavez ran out foreign oil companies first by incredible royalty increases followed by nationalization.

Many oil companies have threatened to stop and or delay future work in Alberta if the panels recommendations were followed to a tee. However, they may have already taken the increase in royalties into account as this is not a new phenomena but something that has been happening in all oil rich countries over the past 5 years.

"Our first reaction to the Alberta government's recent royalty review panel report was that it was authored by a visiting delegation of Venezuelans," Deutsche Bank North America analyst Paul Sankey

However, Ed Stelmach is generally seen as being modest on the panel's recommendations and perhaps he has come to a decision that is both balanced and fair for our province.

Though there may be some layoffs in the oil sands there is still enough boom out there that in a year this will all be forgotten. Only time will tell how much of an impact this will have for the oil companies and exactly what there reaction will be.

"We will adjust to any royalty changes and we can do so with the confidence that we have an array of very good investment opportunities that will allow us to continue adding shareholder value over time," Petro Canada CEO Ron Brenneman

Some Articles of Interest:

A Quagmire in Alberta over Royalties - Interview with Dr. Brownsey a political science professor at Calgary's Mount Royal College

Alberta increases royalties charged to energy companies- "We recognize energy is a volatile industry. There is risk and there is reward. So when oil prices go up, the royalty goes up,"Ed Stelmach

Is Alberta out of step with the world? -"You would think from the anguished cries of the oil companies that the Alberta government's decision to increase royalties was a bolt from the blue. Far from it."

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 myself to get sucked into a current of work, doing deals and so forth. I must be careful not to neglect my family and friends. Don’t let something all encompassing come into your life, be the wake up call you need to slow down. As cliché as it sounds- stop and smell the roses. Take the time to nurture relationships and maybe even enjoy a few days relaxing in the sun. Preparation and continuous evaluation can help you keep on track. I find creating 90-Day Action steps and monitoring results to be key.

As important as scheduling your days and planning your meetings are, you must remember to schedule in fun time or downtime too. Napoleon Hill used to spend long hours sitting and doing nothing but thinking. Bill Gates takes a trip to the mountains twice a year to compose his thoughts too. Of course I’ve presupposed that you’re busy getting things done and moving ahead. If you’re still not reaching and exceeding your targets then now is a good time to figure out why and correct your course. Keep raising the bar too. It’s easy to get complacent when things are going well. Perhaps now is the time you can look at making a big leap forward and streamlining even further.
One day, an expert in time management was speaking to a group of business students and, to drive home a point, used an illustration those students will never forget.

As he stood in front of the group of high-powered over-achievers he said, "Okay, time for a quiz" and he pulled out a one-gallon, wide-mouth mason jar and set it on the table in front of him. He also produced about a dozen fist-sized rocks and carefully placed them, one at a time, into the jar.

When the jar was filled to the top and no more rocks would fit inside, he asked, "Is this jar full?" Everyone in the class yelled, "Yes." The time management expert replied, "Really?" He reached under the table and pulled out a bucket of gravel. He dumped some gravel in and shook the jar causing pieces of gravel to work themselves down into the spaces between the big rocks. He then asked the group once more, "Is the jar full?" By this time the class was on to him. "Probably not," one of them answered. "Good!" he replied.

He reached under the table and brought out a bucket of sand. He started dumping the sand in the jar and it went into all of the spaces left between the rocks and the gravel. Once more he asked the question, "Is this jar full?" "No!" the class shouted. Once again he said, "Good." Then he grabbed a pitcher of water and began to pour it in until the jar was filled to the brim. Then he looked at the class and asked,

"What is the point of this illustration?"

One eager beaver raised his hand and said, "The point is, no matter how full your schedule is, if you try really hard you can always fit some more things in it!" "No," the speaker replied, that's not the point. The truth this illustration teaches us is; if you don't put the big rocks in first, you'll never get them in at all. What are the 'big rocks' in your life, time with loved ones, your faith, your education, your dreams, a worthy cause, teaching or mentoring others? Remember to put these BIG ROCKS in first or you'll never get them in at all.” So, tonight, or in the morning, when you are reflecting on this short story, ask yourself this question, "What are the 'big rocks' in my life?" Then, put those in your jar first.

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 dug out canoes up and down the muddy, leech ridden rivers. I remember wading across a deep creek while freezing cold rain pulverized my scalp. I held up my pack, throwing it repeatedly against the slippery clay slope all the while clawing my way along, trying to get a grip. After making it out onto the bank I looked at my body, covered in what appeared to be fat, black welts that were visibly growing into gluttonous banana slugs. Leeches. I would never have had the patience to burn them off. I furiously tore them away with my bare hands…. But, I digress. I was looking for something on my journey.

Some kind of proof that a 20-year-old kid had in his mind about the way things should be, about what I wanted to find. Looking back on that adventure I learned a lot, but at the time I hated it, not because of the sheer torture of it, but because of what I was looking for I didn’t think I found. That was until later, anyways…

I realized (years later) that I DID find something on that trip and it was…

Never continue trekking when you’ve got infected feet! Don’t push the river- it flows by itself; if you’re starving and haven’t eaten for days and someone walks out of the bush and offers you a basket full of mushrooms…Be grateful, but don’t eat them all in one sitting.

Some finer points can be translated and applied to life and real estate:

Don’t climb a 40 foot Rambutan tree if you’ve never even tasted the fruit; Watch and learn what is going on in your market and what constitutes a ‘sweet deal’. If you don’t know what one looks like, how can you find it?

Leaky canoes; canoes with holes in them don’t float well. Neither will your real estate team if it’s not put together right. You need to continually check and evaluate the performance and results of your group.

Have the right bartering chips; I traded tobacco for passage on my journey. I quickly learned the value of this commodity. Many investors throw away great deals over a little negative cash flow.

Running a $3K loss to make a $50K gain in one year is a good example. A very common and shortsighted mistake that rookies make is failing to understand what to negotiate.

Know what you’re buying; be it price or terms and how to negotiate it.

Make sure that your guides aren’t a bunch of yahoos! Whether you buy one property or a hundred, you need an exceptional team in place to help guide and protect you along the rocky paths. Make sure that you have a map and a team that knows how to navigate.

Lastly, don’t seek adventure in your real estate! Keep your business as simple and boring as possible. Sure, you can have fun, but get your excitement in elsewhere. The last thing you want is a gut full of pinworms and a few digits missing at your next business meeting.

Todd Millar

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 changes as well as decrease global warming.

Alberta is an irritant, just not the kind Mr. Gore implies.

As a kid I remember going to Hawaii and on every street corner there were Hawaiians selling oysters from big icy barrels. They were something like 3 for $5, maybe more I can’t remember exactly. You had a chance to grab an oyster with a pearl in it. Every tourist bought them. Sure enough, every time, you got at least one with a pearl in it.

How did they do it? It was a surprise, I mean you weren’t guaranteed to find a pearl, but it was pretty likely.

Long ago, pearls were important financial assets, comparable in price to real estate, as thousands of oysters had to be searched for just one pearl. They were rare because they were created only by chance.

Natural pearls form in oysters living in the sea without human intervention. When any irritant or parasite enters inside an oyster or mollusk the process of natural coating begins. However, natural pearls are rarely found nowadays.

On the other hand cultured pearls are formed with human help when a nucleus is implanted inside the oyster. It takes about 2-5 years to form a complete pearl depending upon techniques, where it is grown and other natural conditions. The pearls grow best when in a favorable environment. They need to have: clean, fresh or salt water, correct temperature and years to coat the grit in them to sheen of perfection.

It’s ironic that the pearl is actually an irritant to the oyster that’s trying to expel it, but one that we look upon so favorably. The Alberta Oil Sands may be an irritant to some, but a rare and beautiful jewel to others.

And just like pearls that thrive in the right conditions, your real estate continues to grow and flourish into a fine treasure.

For the time being Al Gore may continue to think the oil sands an irritant to the environment, but it takes time to grow a pearl, just as it does to make changes that will improve the environment and well being of many.

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.

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 funds.

*Partnership deadline before Friday 11/02/07 (Closing date 11/23/07)

Wondering what to do?

It's simple. I've done all the work. Now all you have to do is pick up the phone and give me a call because this deal will not sit around and wait.

Thank you and have an EXCELLENT weekend.

To your success,

Todd and Danielle Millar-

-Please remember: All investments carry RISK. Be sure to seek your own independent legal advice-

GOLD REIN MEMBERS

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

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.

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

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 price

The 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 had longer TTS.

* Descriptive remarks on the listing form had the following effects:

* The words "beautiful" or "gorgeous" reduced TTS by 15 percent and "beautiful" houses sold for more. "Landscaping" reduced TTS by 20 percent and "move-in" condition did so by 12 percent. However, "must see" and "vacant" houses apparently had no statistically significant effect.

* Houses identified as "Starter" homes sold in 9 percent less time, however, "Handyman Specials" sold approximately 50 percent faster. "Rental" properties were on the market 60 percent longer.

* Seller intent described as "motivated" or "must sell" were associated with a 30 percent increase in the average TTS while "moving" had no statistically significant effect.

* Following the research statistic "Degree of Over Pricing" (DOP), which measures the difference between the list price chosen by the seller and the average list price for that type of house, the DOP of unsold houses was roughly 4.5 per cent higher than those which sold."

Read P.J Wades Article Here

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 issues are young families starting out. Hopefully with the new lower downpayments for mortgages and special first time buyer plans they can find affordable housing.

Home resale activity slips due to high prices but overall picture remains strong - "In both Calgary and Edmonton....the rapid increase in prices has resulted in sales activity declining from record peaks. "They used to be very strong sellers markets and they've returned to balanced territory,". This is a buying opportunity for investors.

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

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 had held the ear in his hands, spoke: "By my faith, it is both soft and rough." Thus he agreed with one of the others, but went on to say: Nevertheless, it is neither like a post nor a pillar, but like a broad, thick piece of leather." Each was right in a certain sense, since each of them communicated that part of the elephant he had comprehended, but none was able to describe the elephant as it really was: For all three of them were unable to comprehend the entire form of the elephant.

This Buddhist parable demonstrates that people tend to understand only a portion of an idea and then extrapolate all manner of dogmas from that; each claiming only his one is the correct version~

It’s important to look at the market in numerous ways. To truly understand it you need to dig deeper and explore the underlying factors that drive it. Like a good doctor treats a patient; by examining all symptoms, the holistic relationship can be understood and treated.

Getting a clear, well-rounded view is essential. That’s how you can invest with confidence and knowledge.

Or as my mentor would say ‘What’s behind the curtain?

Look at the whole Elephant!

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." Dustin

I think it is a common question/fear people have. My reply turned into a 4 page simple outlook of the Edmonton and Calgary's real estate markets and Alberta's economy.

Hello Dustin,

Thanks for sharing. In summary what I'd say is that, without a doubt the Edmonton and Calgary markets will continue to rise steadily overall in the next 5 years plus. Yes, there may be months when the prices dip and months when they climb quickly up. A healthy market has these peaks and valleys.

Look at the graph for Calgary below, it's not a straight line up... nor is it a straight line down. With over $173B+ of projects already underway or committed for the next decade- you bet the growth will continue, Alberta has a population of only has 3.4 Million people and the highest growth rate, youngest population in Canada. Did you know that Alberta is estimated to grow by 80,000 people per year for the next decade?

Check out this link at the UOA regarding population.

http://www.uofaweb.ualberta.ca/govrel/news.cfm?story=57892

Are people leaving Alberta for sunnier shores? Yes, well you got me there... A whopping 800 people left Alberta for Saskatchewan this year. (At least those Saskatchewan billboards paid off)

The housing market it strong and that strength is based on the economy: the long-term view of it.

Alberta Job & Economic Fundamentals Updates:

• The construction jobs are a coming!

• The forecast for construction jobs in 2010 for proposed capital projects are 37,000.

• Current project construction jobs now are at approximately 17,000. This is an increase of more than

100%, over the next 3- 5 years, and currently the Alberta labor market is already the tightest in Canada.

This is a good indication of the housing demand, as more people are coming to Alberta for work. Each

of these people will require a place to live and rent.

• To top things off Alberta still has the lowest unemployment rate in the country.

Alberta Industrial Heartland:

o Alberta has the 2nd highest reserves of recoverable oil in the world.

o Currently $173 Billion of capital projects are scheduled for Alberta.

o The proposed peak expenditure is scheduled for 2010 – 2012, and this timeline is potentially moving

out further, due to the current shortages of labor.

o Pipeline and Oil upgrader projects are numerous and will attract multi billion dollar investments.

o Currently there are at least 7 oil upgraders proposed on the books and each one of these is forecasted

to have at least 3,000 – 5,000 jobs. To put this in perspective, building the Hoover Dam in Nevada

required approximately 4,500 construction jobs. Currently there are over 7 ‘Hoover Dam sized’

projects forecasted to be built just outside of Edmonton.

US Subprime Mortgage Collapse

• In the news you have been hearing a lot about the US sub-prime mortgage collapse and how that is affecting

the stock market.

Comparing the US and Canada mortgage markets are like comparing apples to oranges, for

example:

• US- sub-prime (high risk) market represents over 20% of all mortgages.

• US- interest only mortgages (high risk)are a high percent of subprime mortgages.

• Canada’s Subprime mortgages are still below 4% of all mortgages.

• Canada’s interest only mortgages are below 2% of total mortgages.

All of these economic fundamentals (just a few of many I could have included) indicate that people

are coming to Alberta and the fundamentals are all pointing towards strong long term demand for

Real Estate.

Hope this helps!

Calgary Real Estate Market Overview

INVENTORY HITS HIGHEST NUMBER FOR 2007

Calgary’s total MLS® month end inventory for the month of August 2007 was 9,634, showing the highest level recorded this year, according to figures released by the Calgary Real Estate Board (CREB®).

Single family Calgary metro new listings added for the month of August totaled, 2,837, a 9.75 per cent increase over the 2,585 new listings added in August 2006. This is an increase of 11.34 per cent over the 2,548 new listings added in July 2007.

Single family Calgary metro properties changing hands in August were 1,314, a decrease of 2.01 per cent from the 1,341 recorded in August 2006 and a decrease of 12.10 per cent from the 1,495 sales recorded last month.

The median price of a single family Calgary metro home in August 2007 was $430,000 showing an 11.40 per cent increase over August 2006, when the median price was $386,000 and showing a 1.15 per cent decrease from last month when the median price was $435,000. All Calgary Metro MLS® statistics include properties listed and sold only within Calgary’s City limits.

The Calgary metro condominium market showed a slight decline in August with new listings added totaling 1,186, an increase of 22.65 per cent from August 2006, when the new listings added were 967. This is a 6.18 per cent increase from last month when new listings added were 1,117. Calgary metro condominium sales in August 2007 were 598; a decrease of 11.93 per cent from August 2006, when the sales were recorded as 679 and a 0.83 per cent decrease form last month’s sales of 603.

“Our inventory has remained high through August; however, total MLS® sales have stayed fairly constant with a drop of only 4.2% from July. The market has shifted slightly to out of town properties and although the average sale price of single family homes in Calgary has dropped by about 3.9% from July, the median price has eased only 1.1% from July. Together it’s an excellent market for buyers and sellers, with sellers getting good prices for their homes and buyers having an excellent selection to choose from”, says Ron Stanners, President of the Calgary Real Estate Board.

The average price of a single family Calgary metro home in August 2007 was $485,914, and the average price of a metro condominium was $320,790. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differentials between geographical areas.

Source: Calgary Real Estate Board

Calgary real estate price increases:

Average Calgary Real Estate Prices for last 13 months

Average Calgary Real Estate Yearly Prices for 1985 to 2007 YTD

Please note - statistics reporting changed in May 2007 - comparing present data to data from before May 2007 is not accurate for the 2 graphs directly above.

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 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 productive workforce
* affordable living costs
* a strong commitment to innovation and knowledge-based progress
* a highly entrepreneurial and competitive business community
* a business-friendly province committed to responsible regulation
* the lowest overall tax load of any province in Canada, including no retail sales tax
* a modern and efficient infrastructure
* an abundance of natural resources
* a beautiful natural environment
* a fiscally responsible provincial government

The Alberta Advantage is organized around the following categories: the economy, people, taxes, operating costs, quality of life and sound financial management. It shows that Alberta is "the place to be.""

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 cumulative airshed target of 25,000 tonnes per year of nitrous oxide (NOx) emissions and 28,000 tonnes per year of sulphur dioxide (SO2);
- using science-based thresholds, baseline data and limits on 100 different parameters to ensure water quality and quantity outcomes are achieved; and,
- protecting the regional wetlands and groundwater, ensuring that land is reclaimed and mitigating any potential harmful changes to wildlife or habitat by implementing minimum setbacks from the North Saskatchewan River.

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, Quebec

Stats
-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 are an indoor soccer field, aquarium and go-cart track
-a 70,000-square-foot educational centre.

Lac Mirabel is well situated in a growing northern suburb of Montreal. As young families buy homes around and in Mirabel, where property is cheaper. Also the region is on the doorstep of the Saint-Sauveur Valley with its cluster of ski villages and factory outlets perfect to garner tourist dollars. READ MORE

Here are some fun facts on West Edmonton Mall from Wikipedia:

* Before 1998, the mall owned more submarines than the Canadian Navy. The mall had a submarine ride that went to depths of 6 metres.

* The mall's ice rink is host to an annual cheerleading competition held by the ACA.

* WEM was the official title sponsor of Edmonton's Champ Car World Series race. Until 2007 the race was officially billed as The West Edmonton Mall Grand Prix Presented by The Brick until they were out bid for the Sponsor title by Rexall.

* The mall is home to the world's largest parking lot, with over 20,000 available spots free of charge

* Mononc' Serge composed a song about the West Edmonton Mall.

* The movie "Christmas In Wonderland" was shot at the mall. This resulted in holiday decorations being left up well into the summer.

* The mall was originally chosen as the set location of the movie The Running Man, but was relocated to Los Angeles

* Paper Marriage, with Sammo Hung and Maggie Cheung, had its climactic finale filmed at the West Edmonton Mall; the water slides and the Santa Maria replica were prominently featured.

* The film Good Luck Chuck used West Edmonton Mall's penguins. However, the film did not shoot in the mall.

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

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.

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.

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 Corp

To 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 we can expect big things for this northern diamond especially if you are in Real Estate.

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 ARTICLE

So at the dinner table give thanks for your health, family and friends but also squeeze a thanks in there for being Canadian at probably the biggest economic boom we have seen for a long time.

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.

Find Edmonton Investment Properties Here.

The Edmonton - Calgary Corridor in Alberta, Canada presents investors with the most dynamic and growth oriented regions in North America.

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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 about 75% of homeowners in the USA have conventional mortgages that weren’t exposed to the ‘melt-down’ directly.
But the question remains: “How does the sub-prime market affect my Canadian real estate?” And the short answer is…

I t doesn’t. Don Campbell wrote an excellent article entitled ‘What Subprime Crisis?’ where he explains the impact on our local market (and there isn’t much of one) cut and paste here for the full story: http://www.glennsimoninc.com/alberta_in_the_news.html

What will affect us in the short-term is lending criteria tightening; hopefully in a year or two that will ease up.

The gloomy outlook in the U.S. market and a cyclical slow down in Edmonton brings a welcome cooling to investors.

I wrote at the end of 2004 that we were entering into a great buying opportunity and, as you’ve seen, the market proved it with stellar returns.

Edmonton’s market follows about 18 months behind Calgary’s, meaning that we are easing into a plateau, which creates an excellent buying opportunity for you.

Calgary’s breather has lifted out of the plateau and into steady increases, a trend Edmonton will follow. In fact the economy is stronger now than ever before, with huge multi-billion dollar projects being added daily.

Between now and spring, get ready to buy, this is it before the next big ride up!

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 professor

BUT

"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 Alberta

When 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 market-"One worries about the structure of the mortgage market, that we may be actually aiding, facilitating a rise in the price of houses that is really not warranted.."

Mr. Dodge warned that housing prices outside of the fast-growing cities of Western Canada may be rising too quickly.

Housing prices in Vancouver, Edmonton, Calgary and Regina have soared, but that growth is to be expected from an expanding economy and population. More troubling is the picture elsewhere." Bank of Canada Governor David Dodge

"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

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 develop houses on Westmount Road in the trendy Calgary neighbourhood of Kensington, and arranged a $1-million mortgage with Beauchamp's company. When the mortgage deal fell through, she said Deer began an angry email exchange with Beauchamp.

Kendall said she intends to prove to the court that Karim pulled the trigger, and that he was acting on Deer's behalf."

READ MORE

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

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 Holt

Although 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 fuel
buyer demand; however, the rate of price appreciation and the intensity of the
housing 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 estate is driven by monthly payments and you can afford more and pay less monthly when your amortization is moved from 25 years to 40 years."

If you can buy more "house" at cheaper monthly payments then the cost of housing isn't such a problem for buyers.

Alberta has good odds to avoid post boom bust - "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 oilsands projects, combined with assets such as a young, educated population and an excellent business climate, bodes well for the region,"

Alberta has a strong economic future.

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 More

Your 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 More

Oil Prices Hit Record High

"Crude oil prices briefly rose to a record $80 a barrel in New York Wednesday before easing back down." More

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 tendency toward using the appraised value of the real estate. It's the same tactic haunting U.S. lenders today.

Any correction in house prices can potentially create loans suddenly worth more than the housing stock backing them." Read More

Or

"Many people think that somehow Canada is immune to all of this ... but the likelihood is they're wrong, writes the Tory turned Liberal MP, who appears hellbent on bringing down Prime Minister Stephen Harper.

He warns that Canadians have never had as much of their net worth in real estate "more than 80%, on average," which makes them undiversified and prone to the kind of misery that has hit American homeowners.

Scary stuff, though some critics will argue his crystal ball hasn't always seen eye-to-eye with the future." Read More

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 Canada
97 Tips For Canadian Real Estate Investors
51 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 fundamentals, not emotions.

* When choosing a neighbourhood, look for three things: an older area that is in transition; an area that has easy access to transportation; and preferably an area that has an undeserving bad reputation based on local stigma.

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 More

Carolyn 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 with inventory, and it will take time to get that inventory down."

If anything, this is a time to buy were you can have time to negotiate your "price or terms" as you like - nothing like the frenzy we saw 6 months ago.

One investor bonus is that in trying to attract buyers some sellers are making their properties assumable. The great thing about assumable mortgages is that they often require less than the 20~25% the bank asks for new mortgages; which means you can buy more "house" for less bucks.

Even with this "slashing" an "plummeting" of prices, property values in Edmonton have risen 27% this year already. Not quite my definition of plummet.

Another feather in the city's cap...

Edmonton was given the title of Number 1 metro area in Western 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

"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 More

I 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.

Excerpts from Bo Bennett’s article ‘Year To Success’ 7/07

Success 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. He is a very likeable person who knows the value of honest admiration.

Success is handling pressure. In 1991 when Trump was about $900 million in debt, it was his ability to deal with pressure that allowed him to stay in the game and eventually pull off one of the largest financial comebacks in history.

Success is self-promotion. Donald Trump is a very public figure who uses his popularity to fuel his success. He has appeared in dozens of movies, commercials and TV shows and currently stars in a reality-based TV series. It is reported that 98% of Americans surveyed know who Donald Trump is.

Success is doing great things for others. There is a story about an unemployed mechanic who once helped Donald Trump get his limo working again after it stalled on the highway. The mechanic did not accept anything for his services besides a "thank you". Trump was so impressed with the mechanic's generosity that the next day he sent flowers to the man's wife, and a letter certifying that the man's mortgage had been paid off in full.

Donald Trump (1946 -) is a real estate billionaire, best-selling author and executive producer of The Apprentice TV show.

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 swayed like a one-legged flamenco dancer. I quietly watched one passenger, who earlier was the envy of us all for he had a hammock, get battered from ceiling to floor as his hammock upturned and released him to the pull of gravity. Then those fragile souls who had no control of their stomachs began to empty them in mass exodus.

One man, a man named Nolan, came forth and offered sage advice “Ride the Wave” he said, ”Don’t panic”.

See, travel sickness has some sort of mass psychology – one person starts and everyone follows, caught up in a flood of nausea they submit.

That reminds me a little bit of the stock market the past couple of weeks– maybe not as extreme but at least similar. Granted, the stock market gave reason to turn your gut (I know a few bargain hunters that are smiling though).

Panicking to list your house for sale is also type of half-hearted hysteria. Nolan’s comment of “Don’t panic, ride the wave” is good advice.

It may be time to remind ourselves that markets rise and fall. And within that ebb lays opportunity. Stock markets are more knee-jerking than Real Estate but if you have a plan to hedge against a sudden stock downturn you’ll not only cover yourself, you’ll make a tidy profit.

As predicted, Edmonton’s entering into a brief buyer’s market where the economic fundamentals remain strong, giving us the chance to cherry pick the best properties.

Join me to take advantage of this lull before we begin the next wave of ascent.

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 repeated as other young couples settled in."

They work and an incredible market worked in increasing the value of their property by over $100,000.

It goes to show that when you can think outside of the box, don't mind using elbow grease and are willing to invest in the hottest market in North America you can get big payoffs.

Read The Full Article Here

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 More

The 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.