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Easter in December

11-01-09
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
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  • Office: (888) 780-5940 x251

Last week, actually about 10 days ago I went shopping. I was looking for a gift for my friend's daughter's birthday. I walked into this very stylish downtown mall and was greeted by... Christmas music!

Throughout the shops you could hear the jing-jing-jingling of the coming festive season. For a second, I was lost in thought thinking"Wow where did November go?" only to be brought back to reality when I spotted all the Halloween decorations.

That's right, Xmas music - Halloween decorations.

It pays to be prepared. I read an article today about the increasing rate of business bankruptcies in the USA. Many commercial leases were being broken as the companies went under and were unable to fulfill their contracts. But at the same time there are temporary businesses looking for quick profits during the holiday booms. One such costume rental company in Edmonton is open for 2 weeks before Halloween and for a few days after.

Savvy commercial landlords offered short term leases to opportunistic business folk who only intend on riding the seasonal wave. What a sweet marriage for the two businesses. Many seasonal companies have trouble finding space to lease for the short term and these landlords were able to solve their problems and at the same time recoup some loses.

Here are the two lessons that I gleaned from my trip to the mall.

#1 It pays to prepare. Work your plan solidly. If that means buying an investment property, get out there and start your research now. The added knowledge will give you power when you are ready to buy.

#2 Look for solutions in would-be problems. The commercial property owners weren't happy about losing leases to bankrupt clients - but they looked at the challenge and rose to the occasion by meeting new client's needs.


In a world that is always two holidays ahead, make sure your business solutions aren't Easter in December.

"Take time to deliberate; but when the time for action arrives, stop thinking and go in." Napoleon Bonaparte I appreciate all your calls and emails. I'm looking forward to helping you put together your next deal.

Thank You,
Todd and Danielle Millar

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September Edmonton Real Estate Single Family prices

10-20-09
Jason Thomas
Jason Thomas: Real Estate Sales Person in Edmonton, AB
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  • Office: (780) 431-1900

Well September was the 3rd best September on record for units sold. The prices are definitely reflecting the market's turnaround. This graph shows the price for a single family dwelling from March of 2007 onward.Edmonton SFD average price September

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Edmonton the city of entertainment

10-18-09
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
  • view my blog
  • Office: (888) 780-5940 x251
Edmonton at night - alive! river valley view aurora

I went to the EEDC website to get updated on statistics and the city's economic outlook (sadly not updated since May) but ended up getting sidetracked by events.

There is seriously a lot going on in Edmonton. Festivals, groups, fashion shows, city wide events there really is no need to stay at home being bored.

This month there are dozens of events happening this month lots are kid friendly and all look like a lot of fun. Enjoy!
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Alberta #1 in Population Growth

10-13-09
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
  • view my blog
  • Office: (888) 780-5940 x251

Even in a recession Alberta is still more attractive than the rest of Canada. The province's population growth has lead the country between April and June.

The reason is compared to the rest of Canada where unemployment rates are in the high nines Alberta still has a lot to offer with rates in the mid sevens.

Population growth is always a good thing, it increases housing prices, retail sales and when the economy picks up again a willing labour force. It can put a strain on the infrastructure but overall the effects are positive.

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Blog_tag

Rental Properties and Insurance Coverage

10-12-09
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
  • view my blog
  • Office: (888) 780-5940 x251

If you've every played Cashflow you've probably got the "Natural Disaster/Toxic Pollution" card that wipes out your property unless you have an "All Risk Insurance" card and have been paying the $200 premium.

Image - lovelylisting.com

In Canada property insurance is structured under three types:

Standard - protects against "named perils" including such things as fire, lightning, windstorm, hail, theft, and specific types of water damage.

Broad- is a level up from named perils and is called "all risk" this includes such things as faulty workmanship and some types of wear and tear.

Comprehensive - provides all risk coverage to the dwelling and the contents

If you're renting your property you want to avoid Comprehensive as the tenant is responsible for insuring their own belongings. Although we recommend all our tenants have this insurance.

As housing prices rise and fall you must make sure that your insurance covers your property at the current value. If your house has increased in value but your coverage is to an outdated limit you may not be completely reimbursed to the value your property holds. Check with your insurance agent to make sure the values are accurate.

Let your insurance agent know if you have vacant properties. If you don't inform them you may not be covered for some types of damage. It may cost you extra money as a "vacancy premium" is often charged. However, that is the beauty of insurance as a few hundred dollars could save you tens of thousands.

Our insurance brokers have an incredible track record with us. We've only had to use them a few times but they have been outstanding. As with any service provider make sure your insurance company will give you the best value and service possible.

More Canadian specific insurance information Click Here
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