Edmonton, AB Real Estate News

By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
As we all have seen, the Edmonton housing market went from a frenzy of multiple offers to a large amount of product sitting on the market. This shift in the market left 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
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
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...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
A quick excerpt on the R.O.I of renting versus buying. "The results of this research show that only renters who are highly disciplined, savvy investors are able to match the wealth that owners can accumulate simply by making their mortgage payments," says the study. "If they meet these criteria, in the best scenario for renters, they can accumulate over 24 per cent more wealth than owners in Edmonton, Halifax, Montreal and Regina, and they can accumulate at least as much wealth as owners in Ottawa, Vancouver and Winnipeg. In Calgary and Toronto, renters cannot on average over our study period match the wealth achievable through home ownership."Click Here To Read Article
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
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 ...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
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. Somel 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 a...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
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 wit...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
  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.We have started aggressive purchasing and will pick up a significant amount of properties along the new route.
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
Edmonton's Boyle Street Co-op gave back to hundreds with a hot traditional turkey dinner. Students and volunteers prepared for about a week for the massive dinner and hoped to feed 1800 people."This may be the only meal that these people get that is warm," student Corey Wren told CTV Edmonton. "I couldn't take food away from someone who needs it," he said. "I have more than enough food at home."This year marked the 16th Thanksgiving Dinner event held by the Boyle Street Co-op.
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
    It's not just my opinion. Edmonton and Alberta have won a slew of awards for being cost competitive, amount of corporate projects and expansions."Edmonton has been named the Number 1 metro area in Western Canada for business investment based on the number of capital projects and expansions taking place in the region...." Edmonton Economic Development CorpTo Read The Full Article Click 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.
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
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 econom...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
If you are Canadian, interested in investing and haven't read Don R.Campbell's books then you really, really should. His Canadian specific content and great down to earth advice are much more relevant to Canadians than American authored Real Estate books.  His Books:Real Estate Investing In Canada97 Tips For Canadian Real Estate Investors51 Success Stories from Canadian Real Estate Investors (12/5/2007 publish)Here are a few fantastic tips taken from Canada's Real Estate Investing Guru:Real Estate Investing Tips From Don Campbell* “Don’t listen to anyone -- including me.” Do your own homework and find a system that forces you to ask the tough questions.* Target older properties, not brand new units. “With some renovation work, you will add value to the property.”* Avoid buying pre-buil...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
 "Edmonton’s residential resale market has experienced extraordinary price growth in 2006 due to a combination of robust demand and shortage of inventory. Many of the forces that have bolstered sales and prices in the new home market this year, such as strong income growth, stable mortgage rates and surging in-migration, have produced similar results in the existing market. Sales on the MLS will achieve a record 21,200 units this year despite a chronic shortage of listings. In 2007, sales will pull back slightly due to some consumer resistance to recent price hikes. However, the expected 20,300 sales will still represent the second best year on record.." RBC Housing Market Outlook 2007 To read more: RBC Housing Market Outlook 2007CMHC Housing Market Update  2007Alberta's Growing Workfo...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
Photo Courtesy Edmonton SunI woke up the other day and, of course first thing, checked my email. My mom sent me this link with the ominous message of "Do you see why I am terrified of renting?" I keep suggesting that she rent out her house instead of selling it, the passive cash flow is a great source of supplementary income for retirement.So I click on the link and read this, House Left Covered In Crap - Landlord found post-eviction 'nightmare'What a title! The images it invokes...not pretty. The landlord rented the upper suite unit to a young woman, with three cats, for two years. He was unable to get references because she had just moved out of her parent's home. After an eviction notice due to unpaid rent, he came to change the locks only to find this:"A "nightmare" of cat feces, g...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
A plateau in house prices and the increase in inventory of unsold homes is shifting Edmonton's hot real estate market from the selling frenzy of 3 months ago to a buyer's market."The advantage has definitely moved from the seller to the buyer," Richard Goatcher, senior analyst at Canada Mortgage and Housing Corp.Many people are worried because house prices dropped $9000 last month and $115 this month. I have even heard the price drop referred to as "a falling knife".Then on the other hand we had $38B invested into Alberta last week. So, yeah, there is NO reason that the housing prices will increase again. Especially when the President of Shell Canada says that the Oil Sands are just beginning are they will require a huge injection of qualified labour - people who will need a place to l...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
Edmonton leads the nation in highest year over year employment growth from June 2006 to June 2007."In terms of year-over-year employment growth, Edmonton (+7.0%) is currently the front runner, followed by Saskatoon (+6.4%) and Abbotsford (+5.7%). Montréal (+3.3%) is currently creating jobs faster that both Vancouver (+2.8%) and Toronto (+2.0%). Two cities known for their government employment are recording job losses, Ottawa-Gatineau (-1.3%) and Québec City (-1.5%)." Alex Carrick - Chief Economist, CanaDataThe city is has had increasing demand for skilled labour for the Alberta Oil Sands and the province's outstanding economy.Edmonton ranked third in Canada for jobless rate, Victoria, B.C and Calgary, AB were first and second."On the jobless front, Victoria (3.2%) is leading the nation...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
Picture Courtesy of Edmonton SunOver 100 homeless people are camped out in tents in downtown Edmonton. The Alberta Oil Boom and the subsequent real estate boom have people coming from all over the country, and the world, to find high paying oil sands jobs. However, the near 72% increase in property values have left a people unable to enter the housing market.Edmonton is notorious for its -40C degree winters, living in a tent is impossible in those temperatures.The city and government are working hard to come up with alternatives including shelters and subsidized housing.“You just can’t kick people out ... because they’re going to have an effect on other areas,” “In essence, we want to make sure that there are alternatives.” Ray DanylukHopefully the government will legalize secondary su...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
Nuwire Investor - NuWire Investor was created to help investors successfully pursue and profit from the wide range of alternative investments. Read Canadian Boom Town: Edmonton  which quotes Todd Millar Glenn Simon Inc President/Owner many times. (free 30-day trial subscription required)
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
 As I have said before, "Where Calgary goes Edmonton follows". Calgary is hitting new housing highs and Edmonton will follow the leader. CMHC released a forecast in May projecting that single detached homes in Calgary and area will hit $474,000 by the end of this year."Only Edmonton is forecast for a bigger percentage hike, with prices expected to jump $90,000 to $340,000 by the end of this year, up 35.5 per cent."We (in Alberta) have the strongest economy in the country," Vinay Bhardwaj, manager of market analysis for the prairies region of CMHC, said."We have virtually full employment ... just about everybody in our province who can work and who has a skillset has a job," he said, noting that makes people more likely to consider home ownership. "On top of that, you have people who are...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
  Now instead of furtively trying to get into you side door basement suite apartment, you can enter your home like any full fledged member of society. Well soon anyway. Edmonton is finally moving ahead with making basement suites legal in most residential areas of the city. Although illegal, many many people had them and just tried to hide the fact that people were living under the stairs."An estimated 10,000 homeowners rent out suites in their homes, but the majority are illegal. For the plan to work, thousands of existing illegal suites would have to conform to new zoning rules."A Few Things To Keep In Mind:*Edmonton is SERIOUSLY pressed for housing. It is so bad that even engineers can't find a place to live*Just like in Prohibition if something is illegal, there are no rules to keep...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
If you have a teaching degree make way to Alberta. "Parents are sometime filling in for teachers in Alberta schools as students become the latest to experience the province's labour shortage. In Alberta's tight labour market, substitute teachers are in short supply and administrators say they're forced to be creative."Click Here
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