Edmonton Real Estate Investor

Stelmach unveils green plan - Stelmach announced that if re-elected March 3, the provincial Tories will spend $50 million turning the river valley into the world's largest continuous park, running from Devon to Fort Saskatchewan.

Beneath university's land there lies a mystery - and possible oil riches - Nobody knows quite how it happened, but the University of Calgary and its students are about to get some first-hand experience in the energy business.

By chance, a staff member uncovered information last summer that showed the school owned the mineral rights to two sections of land south of Lethbridge near the U.S. border - an area rich with both oil and gas reserves.

Tight market fuels winter retreat boom - "Supply in most regions of the country is expected to balance demand in regular housing, but in the recreational property markets, demand should still be quite a bit greater than what is available," Phil Soper, chief executive officer of Royal LePage Real Estate Services.

Real estate affordability to improve, experts say -Housing affordability is likely to improve this year as house-price growth eases and falling interest rates make mortgages cheaper, economists say.

Real estate values returning to normal - After two years of sky-rocketing prices, numbers in the residential real estate market are beginning to return to normal, according to real estate agent Mike Gouchie.

"I think we're going to see a stable, healthy market in Central Alberta, heading into 2008," said Gouchie. "There will still be increases to the value of homes, but in the seven to eight per cent range, which is closer to normal than increases have been."

"Near-record January sales indicate that housing sales will remain strong in the Edmonton area as buyers and sellers adjust to the new pricing levels," Realtor Association of Edmonton president Marc Perras

Purchasing a property with great terms or at a reasonable price is a lot easier now than it was 6 months ago. Sellers are willing to make properties assumables or give you a nice reduction because they don't want their property sitting on the market any longer.

"Prices are stable and are not expected to drop sharply despite the large inventory," Perras said.

Single family dwellings showed a minuscule drop at 0.6%, duplexes and townhouses fell 1.7% and condos rose 1.9%. Overall residential properties rose 1.7%.

Yesterday I found a gold nugget in the boot of my car. My friend asked me over to his place to get a second set of eyes on it before he listed it for sale.

He’s spent the good part of a year renovating the 2 houses on both sides of his. And now it’s almost time to put them on the market. He’s added several nice touches including a Koi pond and a gazebo in the back garden. As the weather gets colder and the ice starts to thicken, it’s a perfect place to sip coffee and watch the carp swim about drunkenly. Somehow the fish survive - though the temperature is as mild as a Vancouver winter. These additions are more from the heart than for the wallet. Carl’s embellishments may be just the right touch to sway certain buyers and perhaps even deter a few.

The recovering alcoholic photographer for instance, loved what he could do with the wine cellar. It's true, he didn’t see a wine cellar he saw a darkroom: cool and temperate for his sensitive films. He was the one that brought up the fact that he no longer drinks.

But, what about the chunk of gold in my trunk you ask?

I found an old Robert Allen book, Multiple Steams of Income. I’d read the revised version a few years ago. Challengingly I flipped it open and dared Robert to show me a new stream- and he did in about 30 seconds. It was a copywriting niche that with a bit of time and research could pay off for the right person. What really impressed me was the “idea” of creating multiple streams of income. That book and others like it are brilliant because they teach you to “fish“ and therefore, never go hungry.

If you depend on a single revenue source to provide for your future you’re supported on a stool that could topple at any time. Can it take the weight of a recession, unexpected illness or worse? Probably not, your table needs 3, 4 or more legs so that if one is eliminated, you won’t even wobble.

Building multiple streams of income will not only strengthen your reserve but also help protect from the risk of a sudden amputation and keep your table standing. Stocks toppling and U.S. Subprime woes, reinforces the fact that having cash flow coming from multiple sources is crucial.

Some properties you’ll own for capital gains, others for cash flow, some stocks for dividends and others for wealth creation, a few online stores for passive income and so on. These building blocks form an excellent foundation enabling you to safely shift, but not crumble, if a financial earthquake should hit.

Mark Milke wrote this excellent article for the Edmonton Sun. If you are unhappy with the economic boom in Alberta now, then perhaps 1988's statistics will help you see the light - 9.7% unemployment and 18% interest rates. Seems unbelievable doesn't it?

"So let's keep present problems in perspective, even with the environmental or social problems -- which I don't downplay -- that accompany the energy industry's success.

Whether you're an Albertan who works in the resource industry, a doctor whose salary is paid partly by the existence of energy royalties, a trades guy or gal who doesn't have to beg for jobs -- unlike in the 1980s, an artist who received an Alberta government or corporate grant, or the recipient of a welfare cheque itself funded partly by oil and gas royalties, we're better off in this province with the resource industry than without it." READ MORE

Edmonton, Alberta: How Do You Heat Your Igloo? (Todd Millar) I replied in a lighthearted way that spending my money on sunsets and sandy beaches is what I do when I'm on holiday, not when I plan and weigh out an investment option. Sunsets sizzle, and when we imagine the lifestyle associated with them, emotion takes hold and reason leaves the room.

Quality-job creation: Another area where Canada outshines US
The bad news is that, like the United States, Canada's economy is shedding manufacturing jobs. The good news is that, unlike the U.S., Canada is replacing them with high-quality work in the public administration and energy extraction sectors.

Canadians vote like mad for Monopoly real estate
It may sound like fun and games, but some people are taking getting their cities into Monopoly's upcoming World Edition rather seriously. Full-blown campaigns on social site Facebook and other Internet sites have boosted the fortunes of Canada's three candidate cities vying for spots on the game board.

CPP buys big chunk of Scotia Place
The Canada Pension Plan Investment Board has bought a 40-per-cent interest in Scotia Place at 10060 Jasper Avenue for $63.5 million.

"The Edmonton market is strong and getting stronger, and obviously has a long-term future," Graeme Eadie, CPP senior vice-president of real estate investment, said today.

Silver lining to expected slowdown
The Canadian dollar has, overall, surged in value for two reasons:

First, the demand for Canadian energy -- oil and natural gas -- continues to remain high. Second, the U.S. housing market has been hit by the sub-prime lending crisis, which has dampened confidence in the American economy, devaluing its currency against others -- including the loonie.

The immediate effects of a high Canadian dollar are felt in manufacturing, which has come to depend on the lower loonie and a strong U.S. economy for steady exports south of the border. In November, 16,000 jobs were lost in Canada's manufacturing sector, according to Statistics Canada.

Canada is getting a lot of first prizes among the G8 countries. We rank first in quality of life, have the lowest cost of living, and the lowest unemployment rate.

Canada has diverse resource driven economy that, less than a decade ago saw significant proportions of all exports heading for our neighbours to the south. Due to Canadian government's tireless support of businesses diversifying their exporting focus and incredible foresight, now, nearly a quarter of all exports are destined for non U.S locations which has helped us to avoid the economic slump now prevalent in the U.S.

Canada’s economy has often trailed the US economy, however today it is leading the US - as is the Canadian dollar which has seen the most gains since at least 1971 because of a surge in investor interest and confidence in commodity-exporting countries according to a Bloomberg report.

Statistic released by the Canadian Real Estate Association show clearly that Canada has just finished the best year ever for sales of existing homes; with records being set for house prices and new listings.

"Those lower interest rates will also help temper any erosion in housing affordability in Canada because of additional home-price increases," "The challenge for the Canadian housing market will be the extent to which consumer confidence is affected by a slowdown in the U.S. economy." Ann Bosley, president of The Canadian Real Estate Association

Now more than ever is the time to invest in Canadian Real Estate.

A Japanese friend I spoke to the other day was disgruntled because the price of soy sauce is increasing. It's all because we are trying to reduce consumption of fossil fuels .

Interest in using food crops (ethanol is derived from sugar beets, wheat, corn or sugarcane) to produce alternative fuel sources for cars is causing many nations to fear subsequent increases in food prices.

For example soy bean oil is heavily relied on to make biofuel - the renewable diesel fuel additive. Cooking oils and many other products prices are increasing because the price of soy beans, corn and cereals are increasing. Milk prices increased 3% in Japan because it is more expensive to feed cows and beer will increase because the price of malt has risen.

Think tanks predict prices may even rise 80% as crops and farmland are diverted to producing biofuels. However other experts predict that with increasing technology we may only see a 5% -15% increase.

A Possible Solution....
Japan has taken steps to produce ethanol for cars out of inedible biomass like straw and chaff.

"We already have the technology to make ethanol from straw and chaff, but we've only succeeded at the laboratory level......"

"What we are trying to do is to collect straw and chaff on a relatively large scale in a local community to make biofuel and then use it for the first time for vehicles and other uses...."

"If we can use biofuels from inedible parts of crops, then markets for biofuels and markets for foods would not have to compete," Eiichiro Kitamura- official in charge of Japan's Ministry of Agriculture, Forestry and Fisheries innovative project

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.

“It’s Time To Cut Through The Hype and Opinions That Surround The Canadian Real Estate Market and Get To The Truth”
Don R. Campbell, Author of Real Estate Investing in Canada.

Rookie & Veteran Investors Have Purchased
over $2,292,700,000 (Billion) of Canadian
Positive Cash Flow Real Estate
Using The Strategies They Discovered From Don R. Campbell.

Now It’s Your Opportunity to Get The Truth and Learn the
2008 Top 10 Canadian Towns to Invest In
And the 9 Questions You MUST Ask
Before You Buy Your Next Piece of Property.

Is It Time For The Market
To Crash or Continue Upwards?

No more guessing, no more hoping, no more wondering if you’re missing out (or making a mistake) and, most importantly, NO MORE FEAR! “How is this possible?” you may ask. Well, there has finally been a breakthrough –- an unprecedented breakthrough -- that allows ANYONE to become a success in real estate investing.

Next Quickstart LIVE!

~ V A N C O U V E R ~
REIN Members only Workshop Friday Night February 15^th
Sat, February 16^th 8:30am – 7:00pm AND Sun, February 17^th 8:30am – 7:00pm
Location: Hyatt Regency Vancouver – 655 Burrard Street.

To Grab One of These Seats,
Click Here!
In fact, previous attendees of the "Real Estate Investors' Quickstart Program" have purchased over $2,292,700,000 (billion) worth of Canadian investment real estate. And before they attended, some didn’t even own their own homes – while others already had a strong portfolio but wanted to make it even better! This program makes huge differences in people’s lives… both veteran and rookie investor alike….

RBC's latest provincial forecasts:

"Alberta leads all provinces with above-average economic growth, followed by Saskatchewan and Nova Scotia. On the opposite end of the scale, and showing a complete turnabout with its mega-projects now in maturation, Newfoundland and Labrador is posting the slowest economic growth rate of 0.5 per cent, and on its heels is P.E.I., as well as Quebec and Ontario with its manufacturing woes. However, a more bullish outlook is in store by the end of this decade for Newfoundland and Labrador, New Brunswick, Nova Scotia and, in particular, Saskatchewan, where there is a possibility for a triple play of diamond mining, rich uranium deposits and a massive oil strike in the southeastern part of the province."

Get Your Copy Of Report Here

If you still think Alberta's economy is on the slide,

"Alberta's economy remains the 800-pound guerilla of Western Canada. At some $290 billion, Alberta's GDP -- gross domestic product -- is almost 15 per cent larger than that of B.C. and Saskatchewan combined.

So when housing starts in Saskatchewan's two major cities soar by 60 per cent -- as they did in 2007 -- it's from a tiny base. Even with a slowdown, Alberta's housing starts will top those in Saskatchewan by six or seven to one in 2008.

Indeed, although home builders in Edmonton plan to curtail new construction in the first half of 2008, some are already worrying that they won't be able to meet new demand by this fall, when inventories are likely to be depleted.

In short, rumours of Alberta's economic demise are greatly exaggerated."

READ MORE HERE

Ask any Realtor and they'll tell you that winter is a time to prepare for the next year. Plant the seeds on the sales they plan to make in the spring because real estate comes to a near grinding halt over the winter months. But not this year.

Royal Lepage Real Estate Services reports that the last quarter of 2007 saw the Canadian market slowing down only a little rather than the full on braking that has come to be expected in last quarter.

Edmonton can expect a moderation and balancing of prices and that is ok by me because I'm looking to significantly increase our investment portfolio and overpriced homes need not apply.

"In Alberta, where Edmonton’s prices were rising at a 50 per cent annualized clip early in 2007, the breakneck rise in recent years "has moderated demand," the Royal LePage report said.

Edmonton and Calgary now have "a surplus of inventory," it added, and "while demand is strong, the increased supply has impacted the resale market and homes that are not priced appropriately will take longer to sell."

Soper said the Alberta econ-omy needs time to adjust to the "frankly unhealthy increase" in home prices between late 2005 and early 2007." Royal LePage president Phil Soper

Realtors' Association of Edmonton president Marc Perras predicts Edmonton-area home prices are to rise four per cent over the next 12 months while a CMHC market analyst, Lindsay Kendall, predicted that Edmonton prices for all forms of resale housing will rise 6.5 per cent in 2008 to $360,000.

Now, I like to manage expectations and prefer to factor in a conservative rate of appreciation at 8% per year- which is a safe average in an up or down market.

I am a contributing writer for Nu Wire investor. I have a new article out on The Fundamentals of Real Estate investing.

This site has such good information for a variety of interests (I am not just saying that because i write for them) take a look at Nu Wire Investor or to directly view my article click Real Estate Investing: Focus on the Fundamentals

Have A Great Weekend!

We just got back from 19 days in Vietnam with a quick excursion into Cambodia. It was a great trip with lots of surprises and delights, beautiful sunsets spent on white sand beaches and excellent food.

Anyone planning to go should visit Ha Long Bay for the incredible caves and kayaking also don't miss Ho Chi Minh it's one of the most interesting culinary cities I have been to - try the street vendors if you are up for it.

After the hectic and successful year we had in 2007 it was nice to be able to take a trip like that. (Actually what I am most thankful for is a business where proven systems and an incredible team allow me to leave, come back nearly 3 weeks later and find everything going like clockwork)

As an avid traveler the writing in International Living or Conde Naste invokes countless dreams of villas in Greece or a secret beach front hideaway in Costa Rica.

This lovely write up for a $59,000 Belize beach front property makes me want to sell up now and head south,
"This little English-speaking Caribbean gem is tucked just under Mexico’s east coast behind the second-longest reef on the planet, making it an ideal scuba destination. The reef keeps the beaches smooth and inviting, and the hundreds of cayes, or islands, off the mainland are a treasure trove for explorers and island-hoppers." International Living

We spent a lot of time on the trip playing our own "International Living" game. We would pick a property, any property and give it a write up like it had never seen before.

My favorite on the 6 hour cruise we took up the Mekong River:

"Live your retirement dreams overlooking the majestic Mekong. Just steps away from the river banks, watch fisherman float by in wooden dugouts as they go to catch tonight's dinner. Spend your days in a hammock or exploring the beautiful historic town you live in...."

There are properties like that all over Vietnam but perhaps at dusk and dawn you must "Deet" yourself against the swarms of malaria carrying mosquitoes, or maybe the swell from the river deposits about 1 ton of discarded plastic onto your river bank each day.

Different seasons, different times of the day and even local festivals can turn your paradise into hades for a while. You should visit your property night and day, rainy season and dry season to make sure you are buying your dream home and not a nightmare.

For example one boutique hotel we checked into at night was gorgeous, great furnishings and a balcony that looked over a bustling street filled with cyclos and street vendors energetically selling their wares. The next morning the cacophony was unbelievable. If you know anyone who has been to Vietnam ask them about the "honking".

My point is that if you are looking at buying an international property your due diligence must go above and behind what you did for your home, back home. The romance you read in the property description may elude you at times.

International Living or another organization like it can certainly offer a wealth of information and local knowledge. But, like any investment it's important to realize what the motivation of the promoter is. Perhaps their expertise lies in the information or services to help you locate your dream property or on the other hand, perhaps they profit purely from commissions brought by inducing a sale. There's nothing wrong with that either- if you're getting what you paid for (I've never purchased a property through International Living or any other similar organization; therefore I am not endorsing nor criticizing their services) in fact this may be EXACTLY the expertise needed to get you started on your second home or new retirement home dreams.

"....you'll be introduced to real estate agents who can tell you about the local market and take you to see properties currently for sale; expatriates already living in the country, who can tell you why they decided to make the move and what they like (and don't like) about their adopted homelands; bankers; economists; attorneys; businessmen..." International Living

What I learned on my vacation is one great sunset does not make an awesome investment property. You've got to come back and visit it during the off-season, festival times and see what the locals are like when you're not just a tourist spending your money... Quite often you may find that a month long holiday is enough time, you don't need to buy the ranch too.

Our next trip will take us to mainland China - I can't wait to find out what I will discover there..

"Taking the Alberta side as an example, there was a 3.8 per cent decrease in unit sales in Oct. 2007 from Oct. 2006. However, new listings were up 39 per cent, indicating an increase in supply.
“We’ve had an under-supply for quite a long time so it’s not altogether a bad thing to have people having a choice,” “That’s what the buyers would say, it’s not so hot for sellers.” Kathy Harvey, president of the Lloydminster Real Estate Board Association

Buyers may have more choice, but it is unlikely they will be paying any less for their home as average listing price has increased 25 per cent from last year. The average home price for the Alberta side is $245,000 and $188,000 for Saskatchewan. These averages also take into consideration surrounding areas where house prices are lower."

Everyone seems to be of the same consensus the market is balancing from it's meteoric rise last year. We'll feel the softening for about 6 months but after that the market in Edmonton will pick up again.

Read More Here

Everyday we hear about the strong Canadian dollar and the slowing US market. Now seems to be the perfect time to pick up your winter snowbird retreat or get an investment property in an otherwise fundamentally sound region.

Brian Wruk, co-author of The Canadian Snowbird in America has some great points for Canadians looking to head south.

California, Nevada, Arizona and Florida all have foreclosures at all time highs and the place you were looking at on Vancouver Island is now close to $1 million.

"People can sell there, buy here (Phoenix, Ariz.) for $500,000, and put the difference in their pocket."

Once you get your financials in order there are some easily forgotten points that you should consider:

Take your meds: But remember that drugs with codeine require prescriptions in the U.S. If you must take prescription medicine, ask your doctor for a letter explaining why and the recommended dosage. Take only as much as you need.

Satellite TV: If you want to watch Hockey Night in Canada, you'll need a Canadian satellite receiver. BellExpressVu says it's illegal to use their system in the U.S. -- but StarChoice says there's no problem.

Gambling disasters: Win or lose, keep a diary of dates, locations, games played and outcomes. Your winnings will be taxed but you can claim a refund by proving offsetting losses.

Driver's licence: Be sure your licence, vehicle registration and passport will not expire while you're away.

Travelling with a pet: You'll need a health certificate from a vet and a letter confirming your pet is from a rabies-free zone or, for a dog, proof of a rabies shot at least 30 days earlier. Don't even try crossing with an exotic pet.

Perogies: Eat your fill before you go because, in the U.S., you won't find perogies, ginger beef, Oh Henry! bars, HP Sauce, Shreddies, Clamato juice -- or Canadian beer.

Source: Terry Ritchie with Brian Wruk, The Canadian Snowbird in America

Read The Entire Article Here

Oilpatch braces for new arrivals - "New census details from Statistics Canada show that Alberta hasn't lost its grip as the province considered by Canadians as the country's promised land.

More than 225,000 people moved to Alberta from other parts of Canada between 2001 and 2006, the latest census figures show.

A slight drop from the last census period, the figure still maintains Alberta's status by far as the province with the highest net gain of population due to migration from other provinces."

Growth in population means increases in housing prices

Calgary's property tax plan half of what they want here! - "While Edmontonians could be clobbered with a 10.9% property tax hike in the new year, our Cowtown (Calgary) cousins are being asked to pony up less than half that - 4.5%."

Edmonton has a smaller population to pay taxes that's why Calgary pays less

For Big Cities A Taxing Dilemma- "Mr. Brooks said he fears Vancouver could end up losing some of its head offices to friendlier tax jurisdictions in other provinces, such as Calgary and Edmonton, which ranked much better in the REALpac study as the country's second- and third-friendliest cities in property tax terms behind St. John's."

Business friendly cities get the business it's common sense

Credit Crunch Won't Affect Real Estate - “Fundamentals remain strong and are capable of weathering a slowing global economy, while tighter lending requirements in North America and Europe are putting moderate-leverage investors in a better position to secure deals at improved pricing,” says Jacques Gordon, global strategist at LaSalle Investment Management. “The future offers a return to more normal leverage and margin levels that will enable those who truly understand the property markets to prosper.”

Real estate is a safe solid investment

Do you have a heated drive? How about a personal elevator?

Royal Lepage released it's top 10 list of the most sought after luxury home additions in multi-million dollar homes. Anything you can dream of you can get, and some people are, in their multi-million dollar cribs.

"The bar just keeps getting higher when it comes to outfitting one's multimillion-dollar pad," Royal LePage

The list included:

1. Elevator Car Lifts

2. Indoor Car Washes

3. Walk In Fridges

4. Home Gyms

5. Wine Cellars

Other popular accessories include:

1.Personal Elevators

2. Theatre Rooms

3. Screened- in outdoor eating areas

4. heated driveways

5. sewing and or wrapping rooms

"Accessorizing the property with the hottest must-haves is a natural extension of living a luxury lifestyle and a way to stand out from the crowd," Elli Davis, a sales rep with Royal LePage Real Estate Services.

Here is my top 6 list:

1. Perpetual Swimming Pool

2. A Gym

3. A home Theatre

4. A Japanese Style Bath

5. A Huge Brick Fireplace

6. Glassed in Deck Kitchen

So what will you have? The heated driveway or the personal elevator?

Jayne Johnson of The Clearing Sight wrote two great blogs on how to prepare for the holidays. If you don't know who Jayne is here is a blurb from her site:

"Jayne’s perspective is that practical knowledge and spiritual wisdom have many sources and over 36 years has studied a wide variety of resources, including the works of Napoleon Hill, Deepak Chopra, Joseph Campbell, R. Buckminster Fuller, Robert Kiyosaki, Wayne Dyer, Paul Brenner, M.D., Marianne Williamson, Rev. Terry Cole-Whittaker, and Earl Nightingale, to name just a few."

She is quite well known for helping Robert Kioyosaki write a goal plan for the Rich Dad Poor Dad game.

“I wrote the business plan for Rich Dad Poor Dad and my board game, Cashflow, at a two-day goal setting workshop with Jayne Johnson, in January of 1996. Without Jayne’s goal setting technology, I doubt if Rich Dad Poor Dad would have become as successful as it is today. That two-day work shop has made me millions of dollars, over and over again. In my opinion, it is the most powerful goal setting technology available today.”

- Robert Kiyosaki, author of Rich Dad Poor Dad
We know they are stressful and you end up more exhausted than before they began, so why not take some this great advice and take a load off?

She advises to ask for help, prioritize, avoid conflict and negative people and listen to music and pray. Solid advice if you ask me!

Go to her blog here to read the full list

I love to say I told you so!

"For the first time on record, the city of Edmonton tops our city ranking in terms of economic momentum," CIBC's World Markets economic activity index

Edmonton's top rank is due to strong population growth, outstanding employment gains, the lowest unemployment rate in Canada and lower than average personal and corporate insolvency rates .

Calgary the old leader slipped into second spot with a score of 24.5, compared to Edmonton's 30.1 . The city's slippage was credited to a slowdown in the pace of job creation momentum in the city -- less than that of Edmonton, Victoria and Saskatoon -- and a cooler (but still excellent) housing market.

Alberta's Greatest Resource Is People.

Canada has the youngest population of any developed country and Alberta has the youngest population in Canada.At a median age of 35.9, Alberta's advantage is it's young highly trained and sustainable workforce.

In turn younger families are causing a "rippling economic boom effect"; as they have children the demands on daycares and other facilities are increased . Daycares with huge waiting lists are turning to seniors to help ease their labour strain.

"Alberta is an energetic and vibrant place that's attracting young workers," she said. "But we're also seeing how seniors are returning to work - like a 76-year-old electrician I know - or are volunteering on a full-time basis."

"There may have been a period of disregard for the older worker,"

"Now they're seen as responsible and reliable - and are valued.
Ruth Maria Adria The Elder Advocates Society of Alberta chairman

It seems as if we are coming full circle. In the past it was always the elders in the family that helped rear the young. Now while your mom is a snowbird in Belize you can get a volunteer or paid senior to help with your child care needs.

It seems like everyone wins.

What would be the point of being highly successful, surrounded by a loving family and living a gorgeous lifestyle if you were sick or in poor health? Our everyday choices that seem innocuous now will lay our future health and longevity.

This fantastic Life Expectancy Calculator was forwarded to me by a friend who found it very thorough. I took the test and felt the personalized detailed report was the most in depth I had seen yet.

"The Living to 100 Life Expectancy Calculator uses the most current and carefully researched medical and scientific data in order to estimate how old you will live to be. Most people score in their late eighties... how about you?

Thomas Perls MD, MPH is the founder and director of the New England Centenarian Study, the largest study of centenarians and their families in the world. More can be learned about the study at www.bumc.bu.edu/centenarian."

Click Here To Take The Test

"Developers packed a public hearing and told the council Pollyannas their "affordable" housing strategy is a no-go. Especially if they expect them to commit 5% of every project to multi-family projects where rent, presumably, would be capped.

The same seriously flawed policy has already encountered stormy seas when property owners learned the pleasant school space in their neighbourhoods will now be jammed with low-rent condos.

Edmonton Urban Development Institute director Michael Mooney said some developers might play along, but only if council slashes taxes or shrinks the size of arterial roads so developers can bring on more lots.

And now the whole mess is going back to city hall's long-suffering bureaucrats for an overhaul." Read Article Here

Vancouver and Victoria are the icing too sweet and rich for most tastes but tempting I will give you that.

Calgary Edmonton and Toronto are the cake substantial and Ottawa, Hamilton and Montreal are the pan lower cost ( I know I am grasping for that one).

"Three cities are leading in terms of year-over-year percentage gains in house prices, both new and existing — Saskatoon, Edmonton and Regina. Price advances in Alberta’s other major centre, Calgary, have eased. Winnipeg’s new home sellers are finally participating in better housing markets. Windsor, due to its auto sector woes, is the only city in the country with declining house prices.

As for absolute house prices, there are three obvious tiers in Canada. House prices in Vancouver and Victoria, on average, are in a class by themselves, at approximately 50% above any other city in the country. Calgary, Toronto and Edmonton house prices form a second tier. Ottawa, Hamilton and Montréal are in a third lower-priced grouping."

These graphs show the year over year change in Canadian home sale prices and existing home prices

Edmonton market is letting off some steam and i will too.

PRICES ARE PLUMMETING! - I would hardly call a 6.5% price correction over 5 months plummeting, especially since prices have risen 74% over the last 17. Price correction anyone?

THE ROYALTIES HAVE RUINED THE ECONOMY! - Many articles say the Royalties are balanced and not half as severe as proposed in the original review or even close to other oil rich countries. Hugo Chavez anyone?

THE MARKET IS FLOODED! - Sure there are more listings than say this summer when multiple offers where the norm and a frenzy made the market not a nice place for buyers. People are out there now trying to see what they can get or maybe they bought a new house, are moving or want to cash out. At any rate the market is getting more and more balanced. Buying opportunity anyone?

WE ARE BUST PRICES WILL DROP! - Sure you may have to reduce your asking price $10k to sell right now but prices fluctuate and there are a lot of people trying to sell now.

"...prices will still fluctuate, but decision makers are still laying bets that in the long-run, the oil wealth will keep home prices healthy." Jon Hall of the Edmonton Real Estate Board.

Saskatchewan real estate values/investing has increased in value recently whether it is due to native Saskatchewan returning home, speculative buyers lured into the market now that Alberta has softened or an exodus due to fear of the effect on Royalties on the Alberta Oil Sands is unclear. I know I say this all the time but - as my mentor says, "What's behind the curtain?"

Take this news release I found on CNW Telbec on the 2007 Property Tax Assessment and Tax Analysis of 2006 Data.

A little background on the assessment it is released by REALpac and prepared by Altus Derbyshire, Realty Tax Consulting and hopes to show both the range of commercial and residential property tax assessments coast to coast in Canada and to determine the trends amongst urban centres, allowing REALpac to extrapolate which cities taxes are going up, going down, and how quickly.

This is their take on Regina Saskatchewan:

"Employees won't be standing in line to move to Regina, since the city also has the highest residential tax rate in Canada, with 2.25% of the value of the property going to municipal tax coffers, followed closely by Winnipeg at 2.20%. On a $200,000 home in Regina, that's an annual property tax bill of $4,500. "It's not clear why Regina's commercial and residential rates are so high as to be leading in both categories, when comparable cities such as Edmonton, are consistently much lower," Michael Brooks, Executive Director of the Real Property Association of Canada

Though real estate prices are rising in Saskatchewan what do people encounter when they buy that cheaper house in Regina? Higher taxes and less employment than Edmonton, not to mention it’s as cold as the arctic over there.

It's going to be a tough Christmas for Terry Ellis the 61 year old paralegal that was convicted of supporting a criminal organization by helping to swindle unsuspecting real estate investors out of nearly $30 million.

Her participation in what is believed to be the biggest mortgage fraud in Alberta history; involving over 280 real estate transactions and 19 different banks, has her sitting in a jail cell waiting for sentencing instead of getting ready for the holidays.

"Ellis denied any involvement in the mortgage frauds committed by the co-conspirators. However, the evidence of her actions in this case speaks much louder than her words,"Court of Queen's Bench Justice Gerald Verville

Ellis has reached a notorious first; this may be the first time in Canadian history that a criminal has been convicted of committing economic crimes for the benefit of a criminal organization. The law under which she was charged was passed in January 2002 and is generally used to convict criminals who commit drug crimes for gangs.

Though we may feel badly for this grandmotherly lady and her plight these holidays we should feel sorrier for the people her and her gang of defrauders have swindled and possibly financially ruined. They are having a much rougher Christmas trying to figure out how they will pay back all the money they owe.

READ THE ARTICLE HERE

Once upon a time there was this crusty old Irish-born frontiersman that went by the name of John George "Kootenai" Brown. Kootenai was off camping and trappin’ (as you do when you’re a pioneer) in the Waterton Lakes area when he noticed some black stuff seeping out of a lake the Natives referred to as ‘Stinking Waters’.
Kootenai soaked up the oil in gunnysacks and used it to lubricate the wheels of his wagon and to fuel his lamps. He also created a device to siphon out the oil. He’d then barrel it, selling it to his neighbors for $1 a gallon.

This was in the early 1900’s and the first time anyone had sold oil in Alberta. 1902 brought along Alberta’s first big ‘boom’.
Other booms followed in 1914 and 1936. But it wasn’t until 1947 when a major strike in Leduc that oil and gas replaced agriculture as the province’s economic driver

Back in 1903 the boom was in full swing. Both honest business folks and speculators poured in. They gathered and began building ‘Oil City’ in hopes of the pumping oil derricks. Canada’s first ‘discovery well’ extracted 300 barrels per day.

The oil was the traditional kind that pumped and spurted out of the ground but turned to a trickle in 1908. ‘Oil Town’ was abandoned and the search for new oil in Alberta was on.

Throughout the decades millions of dollars were made from various oil fields. People came and settled in the province. By the 1950’s more than half of Western Canada’s population-1.3 million, lived in Alberta.
Everyone knew the oil was there, but not gushing- it was locked in the earth. Leaps in technology have been the key to the oil sands and they have become increasingly profitable and sought after. One hundred years later and we’re in the position of maintaining growth, can better understand how to extract the oil efficiently and global thirst for oil is at a paramount.

“Dear Lord, please give me another oil boom and I promise not to blow it”.

Remember that bumper sticker? Quite often there are more reasons of why not to do something then there are of why to. After careful research has been conducted and facts are solid, folks that act like Kootenai and seize the moment are the true frontiersmen.

No one remembers the folks who missed the boom; history remembers those who made it.

It's not B.C but it's almost Toronto.

Alberta's affordability has suffered in the last year due to incredible housing price increases. Although we haven't become one of Canada's worst areas we moved up the ranks. The thing is affordability declined across most of the country. Alberta isn`t doing terribly but we need caution. This RBC report went on to say that the economics in Alberta are supportive.

"Albertans now pay a higher share of their country-leading incomes on average than Ontarians across every type of housing, although Torontonians still pay more than Calgarians and Edmontonians for a two-storey home.

Albertans now pay a higher share of their country-leading incomes on average than Ontarians across every type of housing, although Torontonians still pay more than Calgarians and Edmontonians for a two-storey home. Alberta is still, however, avoiding British Columbia’s stressed affordability conditions."
Read More From RBC Reports

Some of Edmonton's most prestigious office space has increased in value close to 43% over the last year and are projected to shoot up another 8 to 10% next year. Bringing this city's global rank 93 places at $46 per square foot. Even with the incredible jump we are still on the discount side though.

Calgary tops Canada's offices with total occupancy costs of $64 per foot. Toronto comes in at $63.35 and $49.98 in Vancouver. The world's most expensive office space is West End London at $326.67 Cdn, trailed by Bombay's $188.22, London City at $179.57, Moscow at $179.55 and Central Tokyo at $177.40.

The office space in Edmonton will be getting tighter as more companies expand their bases in Canada.

Alberta's boom is affecting it's neighbouring provinces in many ways. From borrowing their young workforce to increasing their property values. The ripple of the billions of dollars invested in Alberta is obvious.

In B.C not only are they catching the run-off of smaller oil companies that can't bear the new Royalties Revision but rich Albertans are buying up water front property like it is going out of style.

The other way Saskatchewan has seen property values rise as native Saskatchewans who have made their money in the oil sands return home and bolster up. The province hopes to attract more of its 125,000 youth lost to the boom province and to scope up some oil sand overflow.

Our neighbours are doing well but it is still Alberta that everyone is investing in now. The Royalties Revision is said to have cost Alberta $10 Billion in projects but there is still close to $170 Billion in projects that are on the way.

A few month ago there was some talk of reducing the use of natural gas in the oil sands and instead using geo-thermal heat to steam the bitumen out of the sticky tarry sand.

The energy is consistant, can reduce the emissions of greenhouse gases and requires a small staff load.

"People are becoming more aware of it...." "Also, the biggest reason would be the energy cost of (conventional sources) and the cost savings with (prices of) fossil fuels rising rapidly." Rick Nelson, general manager of Kelowna-based GeoTility Systems Corp.

Rick Nelson hopes that geo-thermal energy will supply 20 to 30 per cent of Canada's energy needs within 5 to 10 years.

To Read This Article Click Here

"Cheng and Wong admitted to the panel that they raised approximately
$3.5 million from roughly 150 Alberta investors, as part of the
development of three real estate projects to be undertaken by Carling Development Inc. and Carling Development (BC) Ltd. None of the projects
has been completed." CNW Group


"At the height of the gold rush, a gang of con men operated in Skagway under
the leadership of Soapy Smith. One of Soapy's best cons involved his "telegraph office."
Recent arrivals were greeted by men who offered to send telegrams to their families for only $5.
Most people did not look behind the "telegraph office" to notice that the wires ended a few yards
out."  Postal Museum

Like the Gold Rush in the late 1890`s Alberta's oil boom is bring con - men out of the woodwork. If you are investing then you should take care to do due diligence and get independent legal advice. Make sure your investment isn't like Soapy's telegraph wires that end a few meters behind a facade.

The Edmonton Transportation Effect a report released by Don R. Campbell shows how real estate price increases due to proximity to transportation can be applied to Edmonton.

The results show that homes near new extensions of the LRT and Anthony Henday Drive could see prices rise by 10 to 20 per cent above the Edmonton average over the next three to five years

"When people look for a property to purchase, be it their primary residence or an investment property, they take into consideration affordability, commute times and commute costs," Don R. Campbell President of REIN, author and real estate researcher

Mr. Campbell expects areas like Parkallen, Twin Brooks, Ermineskin, Belgravia, McKernanand Sky Rattler all in Edmonton's South side to see the biggest impact.
Wayne Mandryk, Edmonton's manager of transit projects, confirms that the LRT will likely have a positive effect on adjacent property values.

"Generally speaking research shows that land near transit stations rises in value," he said. "Certainly anyone looking to rent or sell will advertise the fact that it's located close to public transit."

The Edmonton Transportation Effect is available free of charge to non-members. It may be ordered by email at:

info@albertarein.com

Neither Todd nor I come from ostentatious beginnings. We were born to first generation Canadians who become solidly entrenched in the middle class and made their way in this new cold country. I wouldn't say we ever had it rough. Well sometimes it was a little rough.

Don Lam, now he had it rough. His family fled from Vietnam in 1975 on a leaky boat with about 170 people crammed from one end to the other, they ran out of water after 6 days, managed to avoid pirates and storms. They left to escape persecution when the communist north took over southern Vietnam and finally made their way to Canada.

Now he manages a $1.8 Billion US investment fund in Vietnam.
Now that is success.

Click Here to read his incredible story

Edmonton's market is still is a plateau which means if you are a buyer you can get some incredible deals. Financing , down payment and terms are all open for negotiation. Especially if you are adept at trawling older listings many people want to sell now.

"Price increases in both Calgary and Edmonton will be more in line with a balanced market. We've had a huge increase in listings in both of those markets. The big run-up in prices has affected affordability and, with it, the number of people who can qualify to purchase."Gregory Klump, CREA's chief economist

Currently 9,753 active listings on the Edmonton market which means you can pick and choose. This won't last long - CMHC predicts price increases in 2008.

What were you afraid of last year? Do you even remember?

Yesterday I was driving to a meeting and listening to my newest REIN CD's. REIN is a real estate investment group that focuses on Canadian specific real estate investing led by bestselling author Don R. Campbell.

REIN has monthly meetings across Canada but because Todd and I are out of the country so often we get the meetings on CD sent to us at our Japan office.

No matter where you are you have heard of the Alberta Royalties Tax Revision and if you are an investor in Alberta then perhaps you are concerned about what will happen and how it will affect your properties. If you were thinking of investing but the Royalties are holding you back; then you must read on.

Don R. Campbell summed it up nicely. People worry every year, day and minute. There is a no shortage of things to worry about, many people let this stop them from acting. However, if you do let things stop you, you will never get anywhere.

"I can't invest now the _______ have ruined the economy/world" or "Everything is going to a hot place (I don't mean Tahiti) in a hand basket because_____!" can be the excuse de jour.

His Summary of 2000- 2007 will bring back memories:

2000 - Y2k
2001 - Kyoto Accord/9-11
2003 - SARS/ WMD's
2004 - BSE/ Bird Flu/ West Nile Virus/ US Terror Alerts
2005 - Tsunamis, Katrina/ London Subway Bombings
2006 - Oil Crisis $60 a barrel oil
2007 - Rent controls/ Royalties

Of course many were terrible events for those directly affected. How did they affect you then?

His point is if we let every monster under the bed stop us from acting where will we be when the Royalties are just a memory, like the rent controls are today?

Alberta premier wants provincial trade barriers dropped -"Premier Ed Stelmach says Alberta is feeling the economic pinch from the soaring dollar, so it's time for the premiers to start talking about eliminating trade barriers between provinces..." " Stelmach says that eliminating this barriers would Stelmach says eliminating such barriers would increase productivity and competitiveness, build a bigger economy and help Canada compete with other trading nations."

Hotel tax boosts tourism budget -"With that 23 per cent increase, there will be an increase in attention to Western Canada, with a really a strong focus on Alberta. There will also be a very strong focus on Canadian and American leisure business."

"The plan is to continue to attract Albertans, given that a booming economy, higher salaries, disposable incomes and growing populations in Edmonton, Calgary and Fort McMurray all point to huge potential for both leisure and business travel to Banff."

Council Mulls Big Tax Hike -"A hike of 10.9% would cost the average homeowner another $164 a year, when increases in the waste management fee, sanitary sewer utility and land drainage utility are factored in.

The average Edmonton homeowner is defined as someone who owns a single-family house assessed by the city at $243,500. The city assessment is often much lower than what the home could fetch on the market." $164 a year is not that much if your property value is rising.

Penn West says Alberta's boom pushed royalty hike -" "We're concerned that the government has increased its take from our sector," "But that's offset by the knowledge that additional funding is required to keep up with the needs of our expanding population, who we greatly depend on for our labor, our knowledge and our services." Bill Andrew Penn West, Canada's No. 2 energy trust's chief executive

"The new cash has created thousands of jobs and a population boom in the province, squeezing strained services and infrastructure that had grown run down and inadequate after more than a decade of government spending cuts.

To cope with the additional demand, the Alberta government plans to spend close to C$20 billion over the next three years on new roads, schools, hospitals and transit, with the royalty hike contributing an extra C$1.4 billion in revenue annually."

PricewaterhouseCooper's Emerging Trends in Real estate indicates that people in the real estate industry in Canada are more positive about their prospects for 2008 than their counterparts in the United States.

"The annual Emerging Trends in Real Estate report, from PricewaterhouseCoopers and the Urban Land Institute, shows 36 per cent of respondents in Canada who participated in the study viewed their prospects for profitability next year "very good," and another 22.4 per cent said they are "excellent."

By comparison, 34.3 per cent of U.S. respondents said the chances of a profit in 2008 are very good, and 19.3 per cent said they are excellent. The report is based on interviews with more than 600 real estate professionals -- including investors, developers, brokers and lenders -- in Canada and the U.S." Full Article Click Here

I especially like at the end of the article where they propound Calgary and Edmonton's forecast for 2008-

"Calgary and Edmonton rate the highest as far as investment prospects in real estate, though the report says it's unclear whether the recently announced hikes in royalties for oil-and-gas firms in Alberta will affect this.

Calgary is referred to as "Canada's resource capital" and "North America's No. 1 boomtown." All real estate sectors here are strongly recommended, particularly hotel and industrial/distribution properties."

gen x

I am worried about my generation. They didn't want anything and now when they realize, "Hey money is all right!" They are so in debt that they can't get ahead nor can they save for their future.

This article is such an eye opener for me, I am so happy that I made the choice to give up new clothes, that cool car and nice furniture for a few years to pay off my student loans and all my credit card debt. I am also happy that I learned to invest and wait, to not let my current appetite steal from my future feast.

Facts From OppeinheimerFunds

* 62 percent say they live paycheck to paycheck

* 56 percent have an outstanding credit-card balance of $3,000 or more.

* 62 percent of women say they have not bought any investment products.

* 45 percent of women would buy 30 pairs of shoes before saving $30,000 in retirement assets.

* 65 percent of women and 48 percent of men said they do not know how a mutual fund works.

* Nearly 65 percent did not know that when interest rates go up bond prices typically go down.

* 38 percent of women have not started saving for retirement.

"Generation X may have shed the slacker image over the past decade as its members moved beyond coffee shop jobs and into the suburbs, SUVs and corporate boardrooms. But when it comes to saving for retirement, the description still fits.

Most Gen Xers, the oldest of whom are heading into their 40s, are woefully behind in saving for retirement. Nearly half of the 5,000 Gen Xers surveyed by Charles Schwab this year said they are so saddled with debt or live on such tight budgets they can’t even think about saving." Read Full Article Click Here

According to the CMHC Edmonton's apartment vacancy rate is at 1% with a forecast 0.8% next year. We hold a lot of mid to upper end units and we see a higher vacancy rate. Our units priced from $1600 (half duplexes or townhouses) to $2000 (3 to 5 bedroom houses) are renting but not as quickly as about 5 months ago. The vacancy rate amongst that range of units is closer to 4%.

A lot of houses on the rental market are those that investors couldn't sell in the current plateau. Some new landlords are not aware of the market conditions are are asking too much or too little for their property. However that "just right" is quite hard to find.

So if you are in low to mid range apartments you should have no problem renting if you unit is quality. Mid to higher end units now is the time to use a bit more effective marketing to get the perfect tenants. And remember winter is a harder time to rent.

Wondering how your area of the country is doing as far as real estate value and investment goes? The leading real estate analysts at PricewaterhouseCooper have released their annual Emerging Trends in Real Estate 2008 report.

Here is how Calgary and Edmonton fare:

 Canadian Markets to Watch

"The report comments on how Canadians like to live and work in central cities, as long as they can afford it. If housing is too pricey in 24-hour
neighbourhoods, people move to inner-ring suburbs or beyond and commute back into the cores. Investors, especially the institutions, are concentrated in
downtown areas too. Planners and developers focus on infill and more vertical projects, which reinforce the urban cores. The hot-growth energy cities out
west - Calgary and Edmonton - score the highest ratings for investment prospects, development, and for-sale housing, although it is not certain
whether the recent announcements on royalties will have any effect on this. Toronto, Canada's premier global pathway city, and Vancouver also have high
ratings. Ottawa and Montreal follow, with Halifax lagging."

   Calgary/Edmonton

"Calgary is the Canada's "resource" capital and North America's number-one boomtown. Survey respondents foresee strong buys for all sectors: 53.5% give a
buy recommendation for Hotel Property, 52.8% for Industrial/Distribution, 48.1% for Retail and Apartment Residential and 44.6% for Office Property.
Furthermore, on average the majority of respondents see Calgary For-Sale Homebuilding prospects as very good. Edmonton is closely mimicking the
Calgary-style growth wave and as long as demand for energy resources stays strong, this market will continue to do well."

For Vancouver, Montreal, Ottawa or Halifax market info read here .

canada

All though the sales are down in the third quarter of 2007 CREA says not to expect a crash because we are still in line for a record year.

"The Canadian Real Estate Association, which represents boards across the country, says sales in the third quarter were down 3.2% from the second quarter. However, the second quarter was the best quarterly period ever for housing sales.

The third quarter decline was driven by a relatively minor slowdown in Alberta, Ontario and Quebec. British Columbia saw a jump in sales in the third quarter.

For the first nine months of the year, there were 419,342 sales across the country, an 8.4% increase from a year earlier. There were 213,547 new listings in the third quarter, the second highest level ever." Read Full Article Click Here

Alberta premier urges oil sands firms to negotiate - "I'm sure, at the end of the day, those companies will realize it is in the best interests of their shareholders ... to sit down with the government and look at the two agreements and discuss how we can reach a solution," Ed Stelmach

Alberta launches initiative to attract skilled labour - “We’ll work on the apprenticeship strategy and make sure that people that want to retrain, earn new skills and get opportunities to get engaged in construction get that chance.”

Slim majority favours nuclear power in Alberta - "What we see are a slim majority in favour of building a plant, but there are also 25 per cent who are very unfavourable which is a fairly large group to have strongly opposed to something, and it is larger than the group that is very in favour (20 per cent),"

Alberta tops survey with largest pay increases - "Alberta's labour shortage is creating a "ripple effect" that is driving up wages across the country with pay increases for non-unionized workers expected to average 3.9 per cent in 2008, says a study released yesterday by the Conference Board of Canada."

Alberta will maintain its lead in housing starts per capita across ... - " Canada Mortgage and Housing Corporation (CMHC) will host their annual Alberta Housing Outlook Conference today at The Westin Hotel. This sold-out event brings together over 400 housing experts, speakers and conference participants to discuss the economic, demographic and financial factors that will impact Alberta's housing markets over the next year."

'Bottlenecks' an issue in Alberta investing - "To date, the biggest constraint for many natural resource producers currently operating in the region has been bottlenecks in labour and investment, rather than profitability," Mr. Tilton wrote in a research note Tuesday. "High and rising oil prices are steadily improving the cash flow from such projects."

Don’t be surprised by the Royalty tax.

It’s short-term pain for long-term gain, by the gain; I’m referring to the extraction and economic spin-off that the oil sands create in general.

The royalty tax is like when you buy your kids the hottest pair of ‘must have’ sneakers and a few months later they outgrow them (both on the cool factor and on the growth factor). You had to buy the shoes, because your kids needed something to wear. It would be great if they last 2 years, but if they don’t maybe you can pass them down to your younger son if they’re not too trashed.
If the $1.4B annual collection from the royalty tax is put to good use, then Albertans will benefit both in the short and long term (we’ll all get new shoes).

royalties
If the cash is squandered and we’re only left with some grotty old ‘hand me downs’ to pass along to our younger generation, we’ll be pretty teed but we’re still not too bad off because the revised royalty taxes aren’t extreme enough to strangle the golden goose of our current economy.
The intention is of course to pass along our provincial wealth to younger generations, and to prevent giving them a shoddy deal (stinky, holey sneakers.

It was indeed interesting to watch the stock market swivel and gyrate as the royalty review was released. Prices of oil sands stocks dipped a bit, and then actually closed a quarter of a percentage point higher after the news soaked in. The energy sector as a whole was up 0.17
Oil was at $93.00 a barrel on Monday (10/29) and the Canadian dollar bought $1.04 USD, which is a first since ’74. We may not necessarily want such a strong dollar in the long term, but it’s still nice to see the strength.

My comments are oversimplifying a complex subject. At the end of the day, we’re still ahead and well on track.

Alberta’s energy industry will endure growing pains and wear out many pairs of sneakers along the way, as the economy grows stronger.

It always hurts a bit to break in a new pair of shoes. Blisters form and they’ll be a few cases of athlete’s foot. However once you get everything broken in and settled you are left with a comfortable fit that lasts a lifetime.

Recently we’ve experienced an overstock of listings, sub-prime scare in the U.S. and the royalty review…

What a perfect time to pick up a deal.

This article was first published in Glenn Simon Inc's Alberta Investment Newsletter

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