Our Edmonton Realty Blog

It's important for us as realtors® to keep on top of market conditions and how they affect our clients.  We are more than happy to provide you this information in a public forum so you can get the information you need to make smart decisions.  Your feedback is always appreciated, you can reach us at any time on (780) 406-0099.

Edmonton Realty Blog - Thursday January 26th/2011 - Local Edmonton Stocks Show Slight Decline for 2011

Stock returns for Edmonton area companies didn’t have the best year in 2011. The Edmonton Portfolio Index, like most of the country’s major equity indexes, ended up in the red. The Edmonton Journal noted that this declined was roughly seven percent, with the exception of cash distributions or dividends. This decline followed two years, 2009 and 2010, that showed significant gains.

Even so, the Edmonton stocks fared better than the S&P/TSX Composite Index, which saw a loss of 11 percent. It ended 2011 at 11,955.09. Even worse was the 34 percent decline experienced by the S&P/TSX Venture Index. A number of investors sold off their mineral exploration stocks, considered a high-risk venture.

The only stock market that saw a gain was in the United States. The Dow Jones Industrial Average ended the year with a 5.5 percent gain. The S&P 500 was flat and the Nasdaq showed a 1.8 percent decline.

Back in Edmonton, 15 of the EPI’s component stocks showed a gain for 2011. Seair, Commercial Solutions, Alexa Life Sciences and Winalta all showed increases of 60 percent or more.

Edmonton Realty Blog - Monday December 12th/2011 - CMHC: Refinancing Slows Down Through Third Quarter

Refinancing continues to decline as a result of tighter regulations introduced this past spring. Per a Canadian Mortgage & Housing Corporation (CMHC) report on the third quarter, demand for debt among consumers seems to be slowing down.

According to a report from the Crown Corporation, refinancing among homeowners decreased by almost 40 percent during the second quarter of 2011. As of September 30, that rate had slowed to 25 percent below the levels existing before the launch of the new rules. A versus-year-ago slowdown of 31 percent was recorded.

The mortgage business has exhibited a general downturn in terms of new home purchases. The lending regulation changes, as well as the market in general, have led to a decrease of 11 percent for insured volumes in the first three quarters of 2011 versus the same time frame last year.

According to CMHC, that slowdown has its benefits, as fewer consumers are taking on large debt loads. Debt is still a major issue among Canadians, however, and the government has been consistent in expressing its concerns about the problem. However, the lending regulations are viewed with criticism with regard to loan-to-value maximum amounts on refinancing. Some believe that this change has placed limits on options for homeowners having difficulty paying their mortgages.

Sub-mortgage broker Curtis Cannon said that the results of tougher regulations are consistent with what happened when down payments were increased on CHMC insurance for rental property buyers. Curtis remarked that decreasing the maximum amount that a buyer can borrow, the CMHC appears to have lost track of its purpose to help Canadians to buy homes.

Edmonton Realty Blog - Friday December 2nd/2011 - Habstritt Urges Consumers to Invest Wisely in Troubled Times

Investment expert Greg Habstritt likes to debunk certain myths about inflation. He advises consumers that it might be more comfortable to believe that all is well with today’s economy, it would be foolish to do so. Paying attention to simple economic principles makes more sense.

Habstritt believes that investors need to keep a positive outlook, as this will go a long way in being successful not just in investing but in overall business. However, consumers need to be cognizant of the negatives as well, and turn those negatives into opportunities for profit.

Habstritt argues that money is not being lost in today’s economy; it is being redistributed. Those who can take advantage of that redistribution can capitalize on opportunities, although some of them may be risky.

To minimize risk, he cautions people not to invest based upon amateur advice. A friend who profited from certain transactions may have done so out of sheer luck. Habstritt tells investors to avoid emotional reactions instead of acting strategically.

Being financially literate goes a long way toward controlling one’s financial future, rather than being swept along with varying conditions, says Habstritt. He reiterated that most investors receive too much news from headlines and not enough from experts who have each investor’s needs in mind.

Habstritt added that many investors are not confident enough to step away from the fray and make independent decisions. He advised that more people need to become the masters of their own futures, because shifting economic currents will not ensure that everyone will benefit from the current redistribution of the world’s capital.

Edmonton Realty Blog - Thursday November 24th/2011 - To Renovate or Not Renovate

People renovate to make their current home fit their needs, or to prepare that home for sale so they can move into something that better suits their life style. Either way, it is best to do a bit of research. It can save you plenty of heartache, and money, in the end.

First decide, if you haven’t already, whether you are really moving, or just want to stay put. Renovating is usually less expensive, and you already have the canvas to create your own vision, one that works for you. If you like your neighborhood, and basically like the home, but perhaps it needs more space or just plain old updating, that might please you most.

If you already know you will be moving shortly, then you must look at this realistically as well. You may have outgrown the home, or want a change of lifestyle, or be relocating for work or family. In this case, the renovation might best be tailored to what is selling at the moment, what will appeal to a broader range of people.

Then there is the cost factor. Some renovations, such as new kitchens and bathrooms, usually add to the value of a home. But if you are renovating to sell, make sure that renovation doesn’t cost so much that you have little chance of getting that money back.
Traditional rules of thumb are if you renovate and add a bathroom, your home value can go up by as much as 56 percent. Make that a kitchen and that value increases by 44 percent. Consider the value of your home as is, then figure out how much it will cost to renovate. Make a budget and stick to it.

Edmonton Realty Blog - Friday November 18th/2011 - Ideas to Purchase Your First Investment Property

If you are thinking about making that first investment real estate purchase, you may have already discovered that getting your foot in the door may be a bit more challenging than just a year ago. But, there are ways to get into the market without depleting your savings or signing a mortgage that may be hard to keep up with.

In April of 2010 the federal government changed its mortgage lending rates significantly. At one time it was possible to buy a home with no money down and take out a mortgage that stretched over 40 years. That is no longer the case. Today investors must come up with 20 percent of the purchase price. That can be tough for first time investors.

One way to get into the investors game is to buy yourself a new home and rent out your existing home. You will only need a five percent down because you are purchasing a personal residence. But you must move into that home because it must be your principal residence or you are committing mortgage fraud.

Another option if you want to stay in your home is to buy an investment property using HELOC. This takes the equity of your existing home and uses it towards the purchase of the second property. It works somewhat like a second mortgage, with the loan registered on the original property and title. The rules allow borrowing up to 85 percent of the value of your existing loan. You will need to have the home appraised and work with a mortgage lender and/or banker.

Edmonton Realty Blog - Friday November 4th/2011 - Downtown Campus of MacEwan University In For Change

MacEwan University is in the process of selling two of its satellite campuses, intending to use the money to beef up its downtown presence. Millwoods Christian Schools is in negotiations to buy the south campus. The organization is in need of space and operates as an alternative program with the Edmonton Public School District. The intent is for Millwoods to take over the campus by the summer of 2012, but that depends on if that is enough time to relocate current MacEwan students to the downtown facility.

The west end campus has been looked at by the city, and it is possible the Edmonton will purchase this campus. The John L Haar Theatre is part of the package. That sale is in the negotiation stage at the moment. The theatre is a pretty big carrot, since the venue could be used for a variety of community functions, as well as for the performing arts.

Once the sales are finalized and the money is available, the downtown MacEwan University will be expanded with a new building expected to cost $90 to $100 million. The school will also be working on a rebrand, intending to place the campus as the premier undergraduate teaching facility in the city. By forging partnerships with various city groups and business organizations, MacEwan University hopes for a smooth and profitable transition from community college to a top flight four year educational facility.

Edmonton Realty Blog - Monday October 24th/2011 - Jasper Avenue Buildings Get Needed Facelift

Building by building, downtown Edmonton is getting a much needed facelift. Dated buildings are getting more modern facades or having the old ones redone and there is a move to make more of them more energy efficient. The Jaffer Building and the Birks Building, both icons on Jasper Avenue, are both undergoing extensive renovations.

Built in 1929, the Birks building’s granite floor is getting an update, the exterior metal facades are being replaced and the windows are being replaced with energy efficient ones. Both lobbies will receive new lighting, paint and carpeting and the washrooms will be updated. Owned by Melcor, the building will keep its vintage look, but with modern amenities.

The nearby Valpy Building, now owned by Jaffer Inc. is getting its own revamp. The marble façade is getting re-skinned and the windows and aluminum panels are being replaced. This was all needed because some of the windows had cracks that were causing water damage. Built in 1967, it was also feared that the marble panels were not secure.

The new owners also put on a new roof, added a sprinkler system and updated the mechanical and electrical elements. The main floor, once housing a coffee shop, is being redone to accommodate a retail outfit. This project is expected to be done by mid-November.

Edmonton Realty Blog - Tuesday October 11th/2011 - Canada Sees Healthy Economic Numbers in July

Canada’s economy is still going strong. This past July the wholesale trade and manufacturing sectors forged ahead, and it is possible they will make up the slight loss seen in the second quarter of this year. The country’s gross domestic product saw a 0.3 percent increase during that month, after seeing a 0.2 percent increase this past June. According to Statistics Canada, the domestic product numbers are on par with what economists were predicting.

Deputy chief economist Douglass Porter with BMO Capital does temper this good news by advising that the report came out before the debt-limit debacle in the United States and the European financial near-meltdown. Despite these issues, Porter still expects Canada to end the year with a 2.2 percent gross domestic product increase. That is also what was predicted by economic experts, or close enough to their figure of 2.1 percent.

Manufacturing was a big part of the equation, increasing 1.4 percent in July. This follows declines in the three previous months. Types of industries included vehicles as well as auto parts makers, chemical processors and those that produced machinery and fabricated metals. Wholesale trade rose 1.5 percent in July with sales mostly in those named industries. On the retail side, July remained virtually unchanged except in the auto sector which did see a 0.7 percent decrease.

Edmonton Realty Blog - Friday September 30th/2011 - Canadian Real Estate Market Stellar On Global Stage

Despite the slowdown seen on the global front, and the resulting weakened housing market across most of the developed world, Canada’s real estate market is holding its own. Scotia Economics released a report this past Tuesday noting the most recent trends on the global market. That report showed that even though the market in Canada is starting to slow a bit, the country is outperforming everywhere else.
Scotia Economics traced nine of the major markets in the developed world and Canada was the only country that showed positive numbers in second quarter growth. The market showed sustained resilience and a marked longevity. Home prices averaged a five percent increase between the second quarter of 2011 and that same quarter in 2010. The appreciation rate was almost the same as in the first quarter of 2011.

Canada is seeing record high prices, but that is being tempered by astonishingly low interest rates. Despite all of this, it is possible that the global economic uncertainty will cause the real estate market to slow, particularly if people are uncomfortable enough to hold off on that home purchase. The market is expected to see at least a modest slowdown by year’s end and for prices to somewhat flatten out.

So far, this September has seen an increase in sales for the Calgary area, 866 this year compared to 812 during the same time period in 2010. Prices averaged $469,094 for this year, as opposed to $460,641 for September to date of 2010. That was for the single family market. As far as condos, there were 356 sales this September to date, as opposed to 308 for the same period in 2010. Prices this September averaged $302,857, and last year averaged $279,510.

Edmonton Realty Blog - Tuesday May 17th/2011 - Face of North American Housing is Changing

Throughout North America it has been the norm to aim for that big house on that even bigger lot with all that coveted personal space. But the times are changing on the continent, and that includes here in Canada. The Urban Development Institute of America held a conference this past Thursday and reported that in the near future, there will be more of a trend towards multi-generational homes. Grand parents, parents and their children will all share the same space.

Part of this is financial. Many of the better paying manufacturing jobs are vanishing, being replaced by lower paying jobs in temporary services and retail. Family members are also going in together to purchasing homes and property, another cost saving strategy for all parties. Another is practical. As child care costs skyrocket it makes sense to have a live in family member taking care of the kids. And it can also be cultural. Many recent immigrants are from parts of the world where it is normal for everyone in the family to live together, particularly in India, China and the Philippines.

Some places in Calgary are already showing traces of that trend. A new housing development, Legacy Pointe in the Le Perle neighborhood, is being built with secondary suites that will be ready for rental. It is built on what was a surplus school site, so this will allow homebuyers to receive a grant from the Cornerstone Grant Program, run by the city. Grants can be up to $20,000 which helps more people get into homes.

Edmonton Realty Blog - Thursday May 5th/2011 - Ontario’s Economy Not as Healthy as It Seems

Ontario appears to be recovering nicely from the recent recession, but in this case it may be prudent to look beyond the numbers. Jobs lost during that period have mostly been regained, but the concern is that there is an economic malaise in Canada’s largest province. That is because of the types of jobs that are being created. The manufacturing sector has been loosing jobs from the early 2000s. Almost 200,000 manufacturing jobs were lost between the early part of 2006 and March of this year. This means that the manufacturing industry in that province is in a steady, slow decline.

Jobs created in the public sector, as well as financial and professional opportunities in the technical and scientific communities have helped to offset this loss. It is far easier these days to find employment at a bank, or as a real estate broker, hospital worker, or in the engineering sector than to find something in the manufacturing field. Construction also showed an employment increase of 17 percent. But the number of people entering the workforce has also increased, keeping the unemployment numbers at about eight percent. Recently that percentage has been slowing starting to decline.

Why is this an issue? Because the growth in employment centers around the domestic market and has been helped by stimulus packages and extremely low interest rates. In the long run, this is unsustainable. Ontario also has a huge provincial deficit. But the key factor is that there is a lack of foreign demand for the province’s products, particularly in the United States, at least partially due to the strong Canadian dollar. It is not likely that many manufacturing will come back to the province, for that same reason. If Ontario’s economy does not see some sort of turn around, it may eventually affect economic factors across the rest of Canada. Some in Ontario will migrate west for jobs in Alberta, which for now has a heating up energy industry. But that will not last forever.

Edmonton Realty Blog - Tuesday April 26th/2011 - Is Edmonton Receiving its Fair Share in Ottawa?

Many politicos believe that Edmonton is losing its voice in the national scheme of things. Randy Ferguson, a vocal conservative, displayed a potent gesture of tearing up his party’s card and mailing it to Canada’s prime minister after Edmonton failed to receive the nod for Expo 2017.

Ferguson, a housing developer, commented that Edmonton has not had a prominent voice in the national government for several years. Last fall, he was about to campaign against MP Rona Ambrose, the Edmonton-Spruce Grove regional political honcho for the Conservative party. However, Ferguson said he did not agree with the stances of the Liberals or New Democrats. Ferguson is not currently aligned with any party.

Candidates for opposing parties are also sensing that Edmonton does not have the footing it deserves in Ottawa. Laurie Hawn, a long-standing MP, said that he is happy with how Conservatives are supporting Edmonton, and that Opposition candidates are simply engaging in political rhetoric.

Hawn said that the Conservatives sought to make Edmonton the location for Expo 2017, but that the huge event would be cost-prohibitive. He noted that he had not received much feedback about the Expo after the decision was made, but that the Opposition has dredged it up for its own political purposes.

Liberal candidate Mary MacDonald, who is Hawn’s opponent, said that while Prime Minister Harper made a campaign visit to nearby Beaumont, he stiffed Edmonton.

Edmonton’s sports and cultural scenes may have suffered from neglect as well: while the Marquee Tourism Fund sent $5 million to the Calgary Stampede, Edmonton’s Fringe Festival, Folk Festival, Indy and Grey Cup received a total of only $1.6 million over a two-year period.

Edmonton Realty Blog - Thursday April 14th/2011 - Snow and Cold Keep Housing Sales and Prices Down in Edmonton

The roads are still slushy, you can barely, if at all, see over the windrows left by snow plows and shovels and the temperatures are far from spring-like. Let’s go house hunting…NOT. Similar conversations were probably going on in the minds of many Edmontonians considering getting into the real estate market. No doubt those conversations were also carried on at a vocal level during what was one of the worst winters in recent memory.

The result of all that snow and frigid temperatures was a less than stellar first quarter in real estate sales. The slow sales most likely contributed to a price decrease in some markets. Condos saw a decline of 1.8 percent, with an average unit going for $205,667. Two storey houses decreased by 0.1 percent and were basically on par, pricing at $343,143 per home. The only category that increased was bungalows that rose 2.3 percent to an average of $309,857 per home. Edmonton’s market is also favoring the buyer because of the increased inventories. There is a glimmer of activity with a few listings in the $300,000 range attracting multiple offers.

Calgary’s home prices also showed a decline from numbers in 2010. In the condo market, prices went down 3.3 percent to an average of $254,856. The price of a two storey property went down 2.1 percent to $423,122 per unit, and bungalows decreased one percent, going to $415,167 per home.

Edmonton Realty Blog - Wednesday April 6th/2011 - Sunday Brunch and For Sale Signs Welcome Spring in Edmonton

After a winter literally buried in snow, Edmontonians are certainly ready for spring. One tradition of this time of year is getting out and enjoying a Sunday brunch. Though Mother’s Day is the traditional kick off for such pursuits, there is no law in indulging early. One restaurant that is already open for Sunday brunch is Bistro La Persaud, a recently opened eatery in Bonnie Doon near the Red Ox Inn. The owners are Keith Persaud and Chef Emmanuel David. The latter was once chef at the Hotel Saskatchewan in Regina and even was a personal chef for Her Majesty Queen Elizabeth.

Edmontonians also start thinking about relocation. A healthy crop of For Sale signs adorn streets and neighbourhoods, awaiting those ready to play the property shuffle game. There is a rumour afloat that prices are headed up in real estate, but that has yet to be confirmed. The report from the Realtors Association of Edmonton should take care of that later this week. It does appear that it will be more of a buyers market for now.

But who knows what will happen once all the snow melts. Few people want to drive about in mid-winter looking at properties, let alone packing up and moving an entire household. The mortgage rates are still low, and the prices are still good, so there is quite a bit of incentive to get into the market for the first time, or perhaps even upgrade to the next level of home. Sellers who list now will have more people competing for their homes, upping the price and usually decreasing the amount of time homes are on the market.

Edmonton Realty Blog - Thursday March 24th/2011 - Edmonton Transit Wants to Add Ten More Security Officers for Safety

Edmonton Transit peace officers are issuing more tickets for rate and bylaw infractions than ever. The number of other incidents the force is dealing with also increased by about 50 percent. But the head of that company’s security says that the bus and LRT trains in Edmonton are safe for the public to ride. The increase is because the security forces are being more diligent in the enforcement of the law. More of the officers are on the lookout for troublemakers. Most of the complaints are for minor issues such as panhandling and littering.

There are 51 officers on the transit’s security detail. In 2010 they handled 26,673 calls. In 2009 they responded to 14,290 complaints. Fare evasions were also up in 2010, 9,139 compared to 5,008 in 2009. Bylaw violations for 2010 numbered 9,654 compared to 7,117 in the previous year.

One factor may be the extension of the LRT line to Century Park and the subsequent opening of two more stations. Ten more officers will be added this year, particularly to help with route hot spots in the northeastern part of the city. Council still must approve the additional $1 million needed for the additional staff but the transit authority is sure that will go through as soon as council reads the report.

Coun. Tony Caterina is in favor of more police presence, citing the recent shooting at the Coliseum LRT after a robbery. Caterina wants more focus on this station as well as the Stadium station; both hang outs for bored young people. Coun. Amarjeet Sohi wants the situation reviewed further. Perhaps there is a need for more than the additional ten security officers.

Edmonton Realty Blog - Monday March 14th/2011 - Alberta Firm Fined $35,000 Due to Improper Handling of Asbestos

Asbestos is a harmful substance that for years was commonly used in insulation and other building materials. Consequently, when an older building is demolished or remodelled, care must be taken that all the asbestos is removed before any such work is begun. The Eco-Industrial Business Park Inc of Alberta received a $35,000 fine because their demolition work on an Edmonton project did not follow proper procedures. The company had purchased the old Celanese Edmonton plant on Hayter Road in 2008 and started to demolish some of the buildings to make it ready for redevelopment.

Investigators from Occupational Health and Safety were on the worksite in August of 2008 on an unrelated work injury investigation when they noticed a lot of white powder and fibres around some of the dismantled pipes. They tested the substance and it came back as positive for asbestos. Fifteen employees had been working in the area and all but three agreed to be tested. But the test results, even if negative could not have much meaning. Asbestos related diseases often show up years after exposure.

Asbestos fibres are microscopic and are carried in the air, making it easy for them to be drawn into the lungs. Workers must wear proper headgear to prevent exposures. All materials including asbestos must be removed from a site before demolition begins to minimize the amount of material that becomes airborne.

Edmonton Realty Blog - Thursday February 17th/2011 - Canada’s Commercial Real Estate Market Has Hot 2010

Real estate investment in Canada’s commercial sector improved by 48 percent during 2010, almost bringing the numbers back to pre-recession levels. Roughly $18.9 billon worth of property changed hands across the nation, with Toronto leading the charge. This powerhouse saw a 93 percent improvement, bringing in $7.4 billion with 1,156 transactions by year’s end.

CB Richard Ellis’ John O’Bryan, who is their vice-chairman, noted that it was a coast to coast recovery and much faster than ever seen before. This amount of bounce back usually takes a decade or two. But since most of the rest of Canada’s industries seemed to be weathering the recession well, the bounce back in the real estate world was not unexpected. All regional markets save for London in Ontario showed increases in the investment market for 2010.

Vancouver, British Columbia was another strong player and saw $2.9 billion in sales and 1,263 properties change hands. This was already a strong market in 2009. Calgary brought in $1.6 billion with 332 transactions and Edmonton came in with $2 billion with 339 transactions. Some types of commercial properties were not successful in 2010, including hotels, retirement homes and manufacturing plants.

Edmonton Realty Blog - Wednesday February 9th/2011 - Between 2000 and 2010 Annual Housing Price Gains in Canada Averaged 6.8 Percent

Re/Max, one of the largest real estate conglomerates in Canada studied sales figures from 19 of the country’s major markets and discovered that the decade from 2000 to 2010 was a profitable one. On average, homeowners saw a 6.82 percent rate of return on their home investment, compounded annually.

Also noted was that for the majority of the decade, except for 2008 and the first part of 2009 which were the recession years, the market has favoured the seller. Even during those years, there were fewer listings so that helped to offset the decreased number of buyers, thus helping to stabilize the market.

Western Canada saw some of the largest increases during this time period. On top was Regina, Saskatchewan which showed an annual increase of 9.56 percent. Edmonton, Alberta came in second at 9.25 percent and Saskatoon, Saskatchewan was third at 9.2 percent. Other cities on the top end were Winnipeg, Manitoba at 9.01 percent, Kelowna, British Columbia at 8.42 percent, the Vancouver area, British Columbia at 7.8 percent, Calgary, Alberta at 7.7 percent and back to Victoria, British Columbia showing 7.59 percent. In the east, Quebec City saw a 9.2 percent gain and Montreal showed 8.48 percent.

Ontario and Atlantic Canada showed more moderate increases, except for Newfoundland and Labrador which showed an average 8.14 percent gain. In Ontario, Ottawa saw the highest gains at 6.78 percent, Hamilton-Burlington showing six percent and then Kitchener-Waterloo coming in at 5.69 percent. Greater Toronto showed 5.35 percent and then London-St. Thomas came in at an average of 4.82 percent.

Edmonton Realty Blog - Saturday January 29th/2011 - Provincial Budget for Alberta Will Dip into Savings to Finance Needed Programs

Shortly after Ed Stelmach announced he would not seek another term as Premier, Alberta’s budget was approved at a meeting of the Treasury Board. Much of what Stelmach wanted, such as the contentious point of maintaining social services by dipping into provincial savings, went through intact.

Some of the Tories did not agree with this point because it basically meant the budget was not balanced. The argument is that the province puts money away in a savings account to use in hard times. Lloyd Snelgrove, president of the Treasury Board, notes that using the money is warranted because of the recent economic downturn. This way health care, education and infrastructure will be funded for the coming year. In the end Snelgrove expects full Tory support.

Snelgrove also noted that whoever took over the leadership of the Tory party would be inheriting a different type of financial climate than Premier Stelmach. Alberta will have to be careful in how it handles its money for at least the next few years. Finance Minister Ted Morton headed one group intent on balancing the budget no matter the cost. There is speculation as to whether Morton will seek the Tory leadership spot. He isn’t talking. Morton would have to step down from the financial minister’s post before the final budget is delivered if he decides to run.

Edmonton Realty Blog - Tuesday January 18th/2011 - Real Estate Market for Edmonton in 2011 Viewed With Cautious Optimism

Even though 2008 was one of the worst real estate years for the city of Edmonton, it is likely that 2010 will actually turn out to be even more dismal as far as the numbers go. This is in spite of a more optimistic outlook. There were fewer sales in 2010 and inventory levels were similar to those in 2008. In both years the impetus was to get houses sold and off the market as quickly as possible to minimize decreases in value.

The global recession is two years behind us and things appear to be improving particularly in Alberta. Oil prices are going up, jobs are expected to increase and people taking those jobs will be looking for homes. Lending rates are still low. Some of those job seekers will get into the rental market, improving that part of the real estate world as well. All signs point toward 2011 being a positive year.

There are some negatives to look out for. Consumer debt is high and there are more people that are behind on their mortgage payments. Foreclosures are up. Some of those who are in homes and are making the payments are having a rough time. Something else to watch out for are ghost listings, those properties that fall out of the listing tool but have not been sold. These properties may very well be listed a second time with more savvy owners ready to deal. It is unknown how, or if, these items will effect 2011’s real estate market.

Edmonton Realty Blog - Friday January 7th/2011 - New Year Brings New Changes

The new year is introducing big changes for Canadians, starting with social benefits, as the first of the 10 million baby boomers turn 65. Federal social benefits, including Employment Insurance (EI) and Canadian Pension Plan (CPP) are also changing this year. Both CPP’s annual bonus for delaying the withdrawal of CPP benefits, and penalties for early withdrawals are increasing in 2011 and 2012 respectively.

Employees and employers both will pay a maximum of $2,217.60 for CPP on pensionable earnings between $3,500 and $48,300. Self-employed workers will pay up to $4,435.20. Maximum CPP benefits have increased to $11,520.00.

EI premiums are being raised by five cents per $100 of insurable earnings. Income tax credits and levels for 2011 will increase by 0.9 per cent in Alberta and 1.4 per cent federally. Excepting Quebec, employees will pay up to $786.78 for EI on earnings between $2,000 and $44,200. Employer premiums rise to $1,101.46.

The amount of tax-free income will increase to $10,527; the 22 per cent bracket will start at $41,544, the 26 per cent bracket at $83,033 and the 29 per cent bracket at $128,800. Albertans can add 10 per cent on taxable income of $16,977.

RRSP contributions in 2011 will be 18 per cent, a maximum of $22,450, on earnings up to $124,722. Common-law, eligible dependant and spousal amounts increase to $10,527 minus net income and disability increase to $7,241.

Other areas affected include senior federal tax credit, Maximum Old Age Security, medical expenses and personal exemption limits among others.

Edmonton Realty Blog - Thursday December 16th/2010 - Alberta Unveils New Plan for Police Agencies Throughout the Province

Alberta has a new plan to improve the way policing is done in the province. This includes being more in tune with the public by way of faster investigations of complaints against officers, working more closely with the community and the creation of a police training centre located at Fort Macleod. All of this and more were unveiled in a 48 page report submitted by Edmonton’s Solicitor General Frank Oberle this past Tuesday.

Some items are already being addressed, such as the complaint investigations. The enacted Police Amendment Act ensures the public that their allegations about police misconduct will be resolved in a timelier manner. Another issue is that the province wants the different police services to share information more freely and show more of a commitment to work together on investigations. The police training centre idea was first floated in 2006, but with this report has been resurrected. The Fort Macleod facility is intended to provide more consistent training both for new officers and those wanting or needing a refresher course.

The Alberta Law Enforcement Response Teams were recognized for their success in handling cases of organized crime and gang problems. Their system will serve as a model for how agencies can work together and succeed. Oberle reminded readers that crime often crosses borders and city lines and police departments cannot operate as insular bodies. To help coordinate the different departments across Alberta, Niche Technology will come onboard to create an integrated management records system to be shared by all of the province’s law enforcement agencies.

Edmonton Realty Blog - Monday December 13th/2010 - Tax Dollar-Free Arena Funding Idea Proposed

A new proposal to fund Edmonton’s downtown city arena has some considering and others dismissing.

Ritch Winter, a player agent, and his partners have suggested using a sports mortgage to fund the building of the arena. The sports mortgage would free the arena from using tax dollars and Daryl Katz’s offer of $100 million.

In a letter to city councillors, Winter said selling advance arena seats that buyers could own for 40 or more years would give the facility the money it needs. Winter said the idea benefits Edmonton as it doesn’t borrow funds or use taxpayer dollars.

Bob Black, the Katz Group’s vice president, said the company isn’t interested in the idea. Black said the idea behind the project is to build an entertainment area and world-class arena that will revitalize Edmonton’s downtown and also create a long-term financial plan for the Oilers.

According to Black, the idea mortgages the Oilers’ future, not the building itself, a move that is counter-productive to the Katz Group’s objective.

Despite the company’s standpoint, some find the idea interesting. Councillor Dave Loken called it intriguing and Mayor Stephen Mandel said he passed the idea on to administration for study. The University of California-Berkley is employing the model to fund a new football stadium.

Councillor Bryan Anderson called the idea “just another possibility.”

The current arena plan and Northlands comments are being discussed on Friday, December 10; councillors will be holding a public zoning hearing and discuss funding proposals in January.

Edmonton Realty Blog - Thursday December 2nd/2010 - National Housing Market Starting to Stabilize

The Royal Bank of Canada (RBC) is predicting that the housing market will stabilize next year as job market improvements and income offset mortgage rates.

Robert Hogue, senior economist at RBC, said housing prices will start moving—modestly—up next year. Variable and fixed mortgage rates are both expected to increase next year as well, increasing borrowing, furnishing and renovating costs.

Fixed-rate mortgages jumped this spring but have been declining since; the Bank of Canada raised its key rate, variable mortgage rates and line of credit rates this year, but now temporarily have a hold on further rate hikes.

Third-quarter home ownership costs were also lower due to softer prices and lower mortgage rates earlier in 2010. The Bank of Canada said housing affordability in the third quarter improved in all provinces, especially in BC. Affordability measures show how much pre-tax income is needed to pay for utilities, taxes and a mortgage on a property.

Still, Hogue said some uncertainty factors could affect interest rates for 2011. Hogue said if the US’ economic recovery is weaker than anticipated, Canada’s interest rate increases may not happen as quickly.

RBC’s report suggested national housing affordability rates improved anywhere from 1.4 to 2.4 percentage points from the second quarter.

Edmonton Realty Blog - Friday November 26th/2010 - Jennifer Stoddart Reappointed As Canada’s Privacy Commissioner

Jennifer Stoddard, Canada’s Privacy Commissioner, has just been reappointed for another three year term. In her initial seven years she has taken on internet giants such as Facebook and Google, citing privacy concerns. Prime Minister Stephen Harper sees no reason to change leadership when the person already at the helm is making progress. The appointment must still be reviewed by the MPs in the House of Commons.

Ms. Stoddard took over from George Radwanski. What was once a commission riddled with political intrigue and financial drama is now an internationally recognized voice for the right of privacy. The role of the commissioner is to report to Parliament about privacy concerns and to investigate possible breaches in Canadian privacy laws. The office has the power and the mandate to promote and protect privacy rights.

One item that had Ms. Stoddard in the headlines occurred last October. She discovered that some of the Veterans Affairs officials were breaching the privacy of a Gulf War veteran. That particular incident remains unresolved because the privacy laws that cover the actions of government public servants are extremely outdated.

Edmonton Realty Blog - Friday November 19th/2010 - Green Washing Machine Rebate Program a Success, City May Run Out of Green

The deal is, or perhaps soon to be was, that if Edmonton residents get rid of their power sucking old washing machines and replace them with energy efficient models, the city will award each purchase a $75 rebate. To say that the program was popular is an understatement. The success may mean that the program may not run until its original target date of December 31st.

The rebate scheme had a $115,000 budget, meant to reimburse up to 1,500 people. As of the first of November, 1,294 people have qualified for the rebates. That left a whole two months to go on the program, which started on July 1st of this year. The city is considering whether to add another $75,000 to the rebates, pulled from other programs that have not used up their budgets.

People who have already submitted applications will get the rebate. Of note, buyers of green machines also qualify for a provincial rebate of $100. The new machines use half the water of the older washers and also decrease the amount of annual carbon dioxide emissions by roughly a ton per average household. In addition to the rebates, the owners of the new washers will save roughly $150 in annual utility costs.

Edmonton Realty Blog - Wednesday November 3rd/2010 - Witches and Ghosts and Giant Spiders…Oh My!!!

Halloween in Edmonton sometimes brings out more than polyester ghosts. In the Hotel McDonald, benevolent spirits flit from room to room spreading a gentle energy. Or so says psychic and paranormal expert David Pilz. Also known as White Star, or The Oracle, Pilz has shown his investigative techniques on the small screen as well as in person.

Pilz travels the globe in search of ghosts, known in some aboriginal tribes as “star people.” These ancestral aliens are rumored to be on their way back to Earth to fix the mess we have made of the planet. He also holds classes on contacting the spirit world at his 80 acre ranch in the Okanagan in British Columbia, known as OmHaven.

Recently Pilz visited the Charles Camsell Hospital, long thought to be haunted. Tales of screams being heard in the middle of the night, flickering lamps, corner of the eye visions and a cold, chilly feeling have supported that thought. Though the hospital is undergoing renovation and Pilz was not able to get into the building far enough to communicate with the spirits, he did feel their presence. These spirits were not of the happy sort.

Elsewhere in Edmonton, on a street nicknamed “Lessard’s Dead End” Halloween spirits, if not the displays, were alive and well. Trick-or-treaters in search of candy treats dealt with giant spiders, gravestones, ghouls and gargoyles. All the better enjoy a spook filled Halloween.

Edmonton Realty Blog - Monday October 18th/2010 - David Dorward, Mayoral Candidate, Has Own Transportation Opinions

David Dorward is running for mayor in Edmonton and he has his own ideas about the funding of the new arena and the expansion of the Light Rail Transit (LRT). He does think the arena is a good idea and while he hopes the project does not end up on a plebiscite, he is not opposed to the people being allowed to vote on the subject.

Dorward prefers to go straight to the public, with straight, easily understood explanations of how the arena will be funded and the benefit to the city. He has already met with several small groups and at the end of the meeting, most of the attendees have come back with a new appreciation of the arena project and its potential. Dorward does stress that he wants to make sure that the city gets a good deal on the project, perhaps some of the parking revenue or partial ownership.

Dorward is equally verbal about the expansion of the LRT lines in time for Expo 2017, which Edmonton is bidding on. He implies that the project may be a bit rushed and is concerned about cost increases and what promises have already been made. Dorward also wants to take a second look at the already approved west LRT route approved to run alongside Stony Plain Road. He wants to see if it would be better running it along 107th Ave.

Dorward wants to limit tax hikes to the people of Edmonton, but not cut out transportation projects altogether. He just would rather the city proceed at a slower pace and not commit to so many expensive projects at the same time.

Edmonton Realty Blog - Tuesday October 5th/2010 - Edmonton Mayor Announces Initiative to Revitalize Inner City Schools

Edmonton’s mayor hopes to find a way to stop the flow of school closures in inner-city areas. Stephen Mandel described his plan while campaigning at the francophone Ecole a la Decouverte, which is located in the Alberta Avenue area. Joining Mandel were Don Fleming, Edmonton’s public school board chairman, as well as Debbie Engel, who chairs the city’s Catholic school board.

Mandel said he wants to encourage city officials to align themselves with community representatives, local school boards and the provincial government to find ways to make Edmonton’s mature neighbourhoods more family-friendly. He said that schools need to be revitalized in order for young families to consider living in older areas of town.

At present, no particular neighbourhoods have been designated as zones for revitalization, but Mandel said he plans to focus upon older areas in the core area of the city. He cited 118th Avenue as an example of how an area can be rejuvenated by way of community interaction. Mandel said that the success of that venture showed that the city, working together with an individual neighbourhood, can achieve success.

Mandel also said that the city government must take a greater position of leadership than it has in previous years. He contended that a higher level of personal communication must occur with neighbourhood representatives and school boards, as well as groups ranging from artists to senior citizens.

Engel expressed her enthusiasm about partnering with the city to help keep schools open. She also said that if low enrollment forces some schools to close, that the community will be able to have a greater say in the future for the school building.

Edmonton Realty Blog - Friday September 24th/2010 - Some Newly Built Condos and Homes in Alberta Have Leak Issues

When you move into a new home, you don’t expect it to leak. Sure, an older home will need the roof replaced at some point to avoid that problem, but one just barely on the market, or a few years old, no. Tracy Hrykoruk, ironically a realtor, got a big surprise when she came back from vacation to a virtual flood in her four year old townhome.

After a blown hot water heater was ruled out, further investigation revealed that the home’s building envelope, or outer shell was improperly installed. The building envelope is intended to keep moisture from seeping inside through the stucco and from around the window frames. The improper installation affected the other seven homes built alongside it. The cost to correct the leaks was a cool $50,000 per owner. The homeowners have filed a lawsuit against the builder and are still waiting for a court decision.

The Strang family had a similar experience. They bought a brand new two storey stucco home and all was fine until the first heavy rainstorm. Then water started pouring in, particularly around the window sills. Joe Strang tried to get the builder to remedy the problem but was ignored. After a year the family moved into a rental home. Seven years later, after having to go through arbitration, Strang got his house fixed. It cost $240,000. The problem? Someone put the water deflecting wrapping on backwards. Instead of water being encouraged to flow away from the home, it was being diverted inside.

Complaints of this sort have been increasing in the city of Calgary over the last decade. Looking into these incidents the city found that homes were not being built to code. The problem has been noted since the late 1990s when British Columbia started reporting a rash of water leaking problems in new homes. The Canadian Home Builders’ Association in Alberta says this is not a widespread problem, but that they would welcome tougher inspections and longer length home warranties. Policies would still need to be changed so that water damage is covered. Currently, it is not.

Edmonton Realty Blog - Thursday September 16th/2010 - Canada’s Unemployment Rate up Just a Trace This Past August

The unemployment rate across Canada did nudge up just a bit, by 0.1 percent this past August to a height of 8.1 percent. The nation did see the creation of 35,800 new jobs during that month, better than the 30,000 predicted. The decline is partially due to the loss of 65,000 educational jobs at the end of the school year. The other factor is that there are more people entering the work force.

Newfoundland, Labrador, Saskatchewan and Quebec are leading the nation in gaining full time positions. The number of full time positions created in Canada was 79,900 by the end of August. Part time jobs decreased by 44,100 possibly because of summer jobs ending. Job gains were seen in the natural resource, technical, scientific and professional fields. Losses were experienced in culture and recreational services, construction and related businesses, retail and manufacturing.

Since August of 2009 there were 396,300 jobs created. Other than in July and August, which averaged 13,000 new jobs per month, the first six months of 2010 saw an average of 51,000 new positions created.

Economists are seeing a gradual slow down in the Canadian economy, after a strong rebound from the recessionary period. The Bank of Canada had predicted there would be a three percent increase in the gross domestic product for the second quarter of 2010. The real numbers showed the figure to be closer to two percent. This could be part of the correction process.

Edmonton Realty Blog - Wednesday September 8th/2010 - Edmonton’s Employment Picture is Getting Brighter

The employment picture is looking up in Edmonton. The just released Manpower Employment Outlook Survey shows that 20 percent of the city’s employers plan to hire workers for the last quarter of 2010. None of the companies surveyed anticipate cutting their staff.

Manpower calculates the net employment factor by taking the percentage of companies hiring and subtracting the number of layoffs. In the second quarter of 2010, the employment factor was four. The number for the fourth quarter is at 20, quite an increase. Across Canada, the employment factor for the last three months of 2010 is 14.

Manpower surveyed ten different industries in Edmonton. Mining and manufacturing of durable goods had the hottest employment factor numbers, 25 and 21 respectively. The real estate, financial and insurance industries all came in at 19 percent.

To look at the national figures, the 14 percent is four points higher than the 10 per cent posted for 2010’s third quarter. Manpower surveyed 1,900 companies across Canada and on average 21 percent were planning to increase their payrolls, 70 percent were holding steady, seven percent were expecting to cut hours and another two percent were unsure. The calculated margin of error is 2.3 percent.

Edmonton Realty Blog - Tuesday August 10th/2010 - Yet Another Argument About Edmonton’s Plans to Develop City Centre Airport

Move over Edmonton Oilers and Calgary Flames, your rivalry is small potatoes compared to that going on about the proposed development of the Edmonton City Centre Airport lands. Edmonton Mayor Stephen Mandel, who is in favor of the development that is already entertaining bids from designers, feels the decision on the issue should rest with his city. Edmontonians and the local politicians who know the city best should know what type of airport solution would benefit the area.
Danielle Smith, a political leader from the Wildrose area, does not agree. She thinks the Edmonton City Centre Airport should stay open to benefit visiting Calgary businessmen, high-profile politicians and anyone else that wants to touch down their Cessna or Lear in the midst of downtown Edmonton.

The question was asked how Calgary would feel if the Premier Ed Stelmach decided to campaign for a more conveniently placed airport in the middle of their downtown core. Would they object to an outside force coming in and proposing to bulldoze a couple dozen skyscrapers just so the commute for visiting high-brows would be shorter?

Of course they would. Not only object, they’d probably tie them to the back of the most evil minded bucking pony they could find and send them kicking and screaming out of town. Either that or let those tempers simmer until hockey season and then have some lively, raucous “conversations” on the ice.

Edmonton Realty Blog - Friday July 23rd/2010 - Community Organizers Solicit Stores’ Cooperation in 118th Avenue Revitalization

Last summer, while walking through the 118th Avenue area, an Edmonton social worker and police constable were astounded to encounter a 12-year-old boy concealing a machete. The pair was shocked to learn that the child was legally able to purchase the weapon at a local store.

The incident led to the development of a community initiative called “We Believe in 118,” with a goal to encourage area businesses to stop selling obviously harmful items such as knives and drug paraphernalia. Since the creation of the campaign, six stores that were selling the merchandise last year no longer stock the items. One business, the Canadian Dollar Produce and Grocery Store, refuses to cooperate.

Community officials say that the dollar store stubbornly insists it will continue to sell knives, crack pipes, measuring scales, plastic bags, and axes branded as “decorative.”
A dollar store employee contended that the store accumulated $10,000 in blade weapons and drug paraphernalia, and that the store intends to sell it all.

Judy Allan, who is the project coordinator for an organization called the Avenue Initiative, said that it is essential that all businesses cooperate with the plan to stop selling dangerous items. The Avenue Initiative was founded in 2005 following a request from the area’s business association to provide better lighting along 118th Avenue. Allan said that allowing young people to purchase harmful items inevitably brings more problems to a community that has had its share of problems.

Stephen Mandel, Edmonton’s mayor, said that he hopes that a revitalization of 118th Avenue would serve as a blueprint for similar communities. So far, some $45 million has been invested by the Avenue Initiative in improved street lights, wider sidewalks, new trees and new asphalt. New businesses are beginning to locate in the area. Mayor Mandel said that the best way for people to show support of the initiative is to quit shopping at stores that do not comply with the revitalization.

Edmonton Realty Blog - Tuesday July 20th/2010 - New Home Prices Starting to Slow In Edmonton, Victoria and Charlottetown

Both Edmonton and Calgary have shown increases in new home prices during the first half of 2010. Unfortunately, it appears the market has slowed enough so that the price of a home in May of 2010 is the same as in May of 2009. Housing building permits in Edmonton were still up by 6 percent in May.

In Edmonton, new home prices since July of 2008 have decreased, sometimes by as much as 12 percent pricing month to month. Calgary’s market appears to be somewhat healthier in the resale market with that sector showing solid gains. Both cities are expecting prices to cool in the latter half of 2010.

Victoria, British Columbia and Charlottetown, Prince Edward Island, showed a reduction in new home prices, 3.9 percent and 1.6 percent, respectively. Across the nation, Canada’s new housing price index rose 2.9 percent compared to the same time period in 2009.

Prices appear to be affected not only by the dregs of the recession, but by seasonal slowdowns typical of these areas. Also of note, the threat of interest rate increases, which are occurring and the new mortgage rules, in effect since April, have caused people who were interested in buying to act quickly. The first quarter and part of the second showed brisk sales; the latter half is understandably showing more than expected seasonal adjustments.

Edmonton Realty Blog - Monday July 5th/2010 - City of Edmonton Holding On To Funds Destined For Affordable Housing Project

The city of Edmonton is stalling on its payment of the second half of a $918,000 grant intended to build an affordable housing project. Safe Harbour Homes is doing the work, and had the funds been available the duplex would have been finished by its target date in May and 14 more men would be off of the streets.

But the city is worried that the value of the property won’t be near the amount of money agreed to with the grant. Perhaps that is true, but the fact is that Safe Harbour Homes went through the grant process; the city approved it and paid the first half of the grant. Why now is the city blaming the grant applicants? Because the auditor decided the city did not take the time to research the application adequately.

Now there are concerns not only with the property value, but whether the duplex will be used as intended and not for a rooming house. Mike Brown, who is the head of Safe Harbour Homes, already has a similar structure housing nine people that are trying to recover from drugs, alcohol or other addictions and there have been no problems in the home’s five year history.

City fathers do not want to budge on this one, even though it appears that they dropped the ball. The matter may end up going to arbitration so the project, which is 90 percent completed, will be funded as agreed.

Edmonton Realty Blog - Thursday June 10th/2010 - Housing Starts in Alberta Show Slight Decline in May

Although housing starts in Alberta exhibited a slight decrease in May, the month represented the eleventh in as many months that starts improved over last year. Todd Hirsch, a senior economist at ATB, reported that recent interest rate hikes seem to be the reason for the slowing of new-home construction.

Hirsch said that the uncertain global economy and its effect on oil prices might also affect Alberta real estate, causing conditions to remain somewhat flat through 2010. He acknowledged that despite slower activity in May, the housing market is much stronger than it was last year.

The Edmonton metro area recorded 989 housing starts in May, as compared to 1,407 starts for April and only 346 for May of 2009, per the Canada Mortgage and Housing Corporation. For 2010 so far, construction has begun on 4,428 units, representing an increase from the 849 units that started during this period in 2009.

Construction of single-family houses is especially strong, with a 123-percent increase over last year to 540 homes. This number is down from April’s total of 620 dwellings. Year to date, the number of single-family homes under construction tripled versus last year, with 2,554 houses under construction as opposed to 849 units in 2009.

CMHC senior Edmonton market analyst Richard Goatcher advised that since last fall, builders have been trying to restore inventories. There is definite demand and a relative lack of home completions. He also said that in addition to the strength in single-family home starts, the multi-family segment is also showing some recovery. Goatcher noted that starts for apartment units are exhibiting a significant improvement in April and May.

Edmonton Realty Blog - Friday May 21st/2010 - Armed Guards Ordered from Total Hearings

Solicitor General Frank Oberle has instructed his department to review how they decide whether to send sheriffs to court hearings. Armed sheriffs were present at the environmental hearings for the proposed bitumen upgrader by French oil company Total. The upgrader would be located northeast of Edmonton.

Many landowners, farmers and environmentalists oppose the project and attended the hearings in peaceful protest. Total security guards who were taping the protest were asked to stop filming by Total when they learned of the incident.

Some protesters were shocked that Alberta sent armed sheriffs, and Oberle has since apologized for any intimidation, stating that the province’s intention was to keep the hearing peaceful and allow people their say. Oberle also said the hearing’s location and information given by police gave Oberle’s department reason for concern.

Premier Ed Stelmach rejected the idea that citizens would be intimidated by armed guards.

Alberta’s head of security for the Solicitor General said Wednesday he knew that sheriffs with sidearms had attended four previous environmental hearings. The department’s spokeswoman confirmed Thursday that sheriffs have attended five.

When asked for his opinion, Energy Minister Blair Lekstrom of British Columbia said he couldn’t see a need for armed guards at any hearing.

Oberle said the hearings are progressing well and that no situation requiring security has occurred.

Edmonton Realty Blog - Monday May 10th/2010 - I Think I Saw A Zombie Washing My Car – For Food?

Edmonton’s food bank goes through a lot of food. Roughly 70 percent of its food stores come from the food industry via grocery markets, farmers and food distributors but it is still not enough to keep the shelves stocked. Frequent food drives supplement the industry’s generosity.

This past Saturday the food drive started with a car wash at the Arts Barns at TransAlta. The amusing twist was that the car washers were decked out as zombies. Service with a…grimace?

The zombie car wash was also collecting donations for the Canadian Breast Cancer Foundation. I guess there is something to be said for fund raising with a sense of humour and more than a little taste for the theatrical.

If you missed your chance to have your car soaped up by a group of ghoulish bandage wrapped volunteers, you can attend the Canstruction 2010 contest next weekend at Southgate Centre. There will be 15 teams (not sure of their attire) using food donations to create sculptures.

Other planned food drive events are the “Sink the Ship” event at the Edmonton Queen in May and the “Golf for Food” tournament at the Legends Golf and Country Club in June. Presumably the zombies will trade in their bandage couture for sets of plus-fours which some consider to be a frightful fashion statement in their own right.

Edmonton Realty Blog - Monday April 26th/2010 - Alberta Fires Burn 535 Hectares So Far In April

A dry Alberta spring is being blamed for the 241 wildfires that have erupted since the beginning of April. That number is approximately four times more than what normally occurs, and fires have burned 535 hectares or 892 football fields.

Over 400 hectares burned on the Paul Band First Nation on Tuesday, April 20. The fire started on Saturday, April 17 when a resident was burning garbage and the blaze got out of control. While it was controlled by Sunday, hot spots erupted on Tuesday, causing the blaze.

Sixty-four firefighters from Paul Band, Enoch, Alexis and Alexander reserves fought back the fire. It cut a northwest passage to Wabamun Lake, jumping Range Road 35. Nearly 150 residents evacuated with some staying to assist the fire crews. Some outbuildings were destroyed but no residences were damaged.

The Sustainable Resource Development department cut 11 per cent in the budget, approximately $8 million less than what was spent last year on preparations for the forest fire season. Around 1,600 fires in 2009 cost $98 million for preparation costs and $130 million for actual fire-fighting costs, a similar amount to the previous five years.

Edmonton has no current plans for full or partial fire bans but multiple towns and counties outside the Fire Protection Area in northern Alberta have declared full or partial bans.

For a complete list of restrictions and bans, visit www.albertafirebans.ca.

Edmonton Realty Blog - Thursday April 15th/2010 - Survey Says: Stability in Edmonton Home Prices

The new survey from shows good news for Edmonton real estate, indicating the market continued a steady recovery in the first three months of 2010. The price survey, released April 8, demonstrated that prices are rising through all types of residences in the area, both from January through March, and versus a year ago.

Throughout Edmonton, the price of single-family homes grew 5.2 percent versus the first quarter of 2009 to $343,571. Condominium prices increased 4.9 percent during the same time frame to $208,833. The price of detached bungalows showed a tiny increase of one percent, making the average sales price $302, 857.

Buyers are beginning to become more confident about the real estate market, and they are also attracted by currently low mortgage rates.

Certain areas in Edmonton saw higher appreciation than others: The Clareview neighbourhood witnessed a 27-percent increase, as the average single-family home price rose from $305,000 to $390,000. The average Clareview condo price grew by three percent, to $170,000 versus $165,000. The Riverbend/Terwilligar neighbourhoods experienced growth of seven percent, as the average single-family dwelling price increased from $346,850 to $370,000. Condo growth was more impressive in Riverbend/Terwilligar, exhibiting a nine-percent hike to $218,000 versus $200,000.

Other Edmonton neighbourhoods did not fare as well. Sherwood Park and Castledowns witnessed no changes in the average prices for single-family residences of $340,000 and $315,000, respectively. Prices for detached bungalows in Clareview and Castledowns continued to be stable, at $250,000 and $260,000, respectively.

Edmonton Realty Blog - Friday April 2nd/2010 - Finding The Right Neighbourhood For Your Entire Family

Many home buyers wonder how to find the right neighbourhood for their family’s needs. Associate Broker and GRI Meg Minehan says that an open line of communication is key. Listing what you need and what you want will outline any differences between partners and can make house hunting easier for all parties involved, including the realtor.

Consider who is in your family. Are there children? What are their ages? An important consideration for them is your proximity to the services they will need. Where is the nearest school? Look for activity centres like hockey rinks and gymnastics classes to encourage hobbies. Nearness to conveniences like these can save time and money in driving expenses.

If you want playmates in the neighbourhood, swing sets and bikes are excellent indicators. For older children, swing sets and bikes could mean babysitting money.

You may also want to consider proximity to transportation, health clinics and school programs if there are older family members or members with disabilities, Ask your realtor about locations of libraries, museums or senior centres to encourage socialization and independence.

And don’t forget the distance to work. If you have to commute every day, you will need to decide what features are or aren’t worth an extra 15 minutes of driving.

Having complete information on needs and finding services for every family member will make the transition, whether to a different neighbourhood or across the country, easier and happier.

Edmonton Realty Blog - Friday March 19th/2010 - Alberta Leads The Nation In The Fight Against Homelessness

The province of Alberta has a goal to end homelessness within ten years. So far everything is going according to schedule. “The Plan for Alberta – Ending Homelessness in 10 Years” just celebrated its one year anniversary and the creators of the initiative are taking stock of the progress.

So far more than 900 homes for those needing shelter are under construction and another 1,300 have already been housed. The original target for the first year 2009-2010 was for 700 homes but due to the decrease in construction costs the government was able to exceed this number. These homes were funded from the 2009 Request for Proposal grant in which the government committed $100 million to the housing program. Temporary shelter use is down in Alberta’s cities.

Support services that help these people become independent, such as job training, education and counselling, have been implemented. In 2009 Alberta’s government allotted $32 million to help fund treatment for those with substance abuse issues. The idea is to get those who have such problems clean so they may eventually land a job and be independent contributors to society.

All seven of Alberta’s major population areas have local plans with the intent to end homelessness in their cities also within the ten year goal. The province is working with local organizations to collect reliable data on the homelessness situation in their area.

The project has had a healthy start for its second year. In Calgary and Edmonton, the Mustard Seed Society is expected to receive $12 million from the provincial government. This money is targeted for building 112 homes for the homeless in their respective cities.
The 2010 Provincial Budget is also setting aside another $100 million for the 2010 Request for Proposal grant so that even more housing can be created. The budget also allows another $42 million to go to support services.

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