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Edmonton, AB

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Summer Doldrums

07-09-08
Jason Thomas
Jason Thomas: Real Estate Sales Person in Edmonton, AB
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  • Office: (780) 431-1900

Inventory Edmonton

Well July is here and that normally means a slowdown in activity in our market. Most people are surprised to hear that December and July are the two slowest months for number of units sold in the real estate market. That being said there are still homes selling, people just tend to have their minds on summer holidays and enjoying the short Edmonton summer. I've put together another graph showing our inventory versus sales.
The sales data has been quite strong, we are pushing 2000 home sales each month for the last 3 months. Actually they have been extremely consistent, 1823 in April, 1821 in May and 1852 in June.
Our inventory has finally started to crest, we actually dropped a little with the number of homes for sale on the market. At the end of May we were sitting at 11,006 homes for sale and now we are down to 10,817. This falls into normal inventory patterns of markets prior to 2006. We normally peak out in May and the inventory gradually falls to a low a the end of December.

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New Apple Store Largest In Canada

07-07-08
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
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  • Office: (888) 780-5940 x251

West Edmonton Mall used to have the largest everything. Although it has lost a lot of it's superlative status it does once again have a biggest - The largest Apple store in Canada.
The opening saw 600 people lined up some as early as the day before.

I can only assume Apple feels that Edmonton ranks along with Toronto, Vancouver and Montreal as crucial sales points due to it's growing population and strong economy.

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Watch The Property Values Rise

05-10-08
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
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  • Office: (888) 780-5940 x251

We've generally stayed away from Alberta Ave because the headaches of managing and tenanting the property far outweighed the low price tags. However, with an $8.5 million , 5 block-per-year revitalization in the works it's starting to look more and more attractive.

"Alberta Avenue, the 27-block stretch of 118th Avenue north of downtown, is getting a facelift. Crews are beginning work on "streetscaping" five blocks of the avenue, putting in new road surfaces, new and wider sidewalks, new trees and better lighting." Susan Ruttan, edmontonjournal.com

Don R. Campbell often says to not be the first in the area to start the gentrification but come in the middle when the risk takers have done most of the work. I would say this is a good indication that properties in this previously forsaken (drugs, prostitution and crime) area are going to make a nice profit.

My good friend has been active by spreading flower seeds on walks with her dog, in hopes of beautifying the area around her investment property. Looks like the city is ready to follow her lead.

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Who Says Landlords Never Give Back?

03-26-08
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
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  • Office: (888) 780-5940 x251

An Edmonton landlord struggles to keep the school near his complex open and is willing to pay to make that happen.

"Reg Appleyard, Meadowcroft Housing Society of Edmonton's executive director, told public school trustees that he will guarantee 110 students are enrolled in Woodcroft Elementary School by Sept. 15, and the society will pay nearly $5,000 for every student short of the goal, up to $98,224 or a shortfall of 19 kids." Photo courtesy of Edmonton Journal.


Relying on 30 years of accumulated reserve funds, Reg sees this as the biggest crisis the complex has had to face, and is willing to pay to keep the school and his units tenanted.

"We bought this complex 30 years ago, and we've always set aside funds each year for crises or emergencies," he said. "We feel that this is probably the biggest crisis we've faced in 30 years, and so we are prepared to use some of our reserve funds to try to solve the Woodcroft Elementary School problem." Reg Appleyard

What a reserve fund!
Reg seems determined to get those seats filled and has already signed up children.

I can't help but wonder if his reserve funds could be spent in a way that could revitalize the community or help tenants who can't find housing rent in his building. The $5000 shortfall per child could actually equate to a $416.00 monthly rent reduction for a year in his building.

That might attract a lot new tenants, fill the school and offer subsidized housing.

Read the full article here
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Do You See What I Mean?

03-24-08
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
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  • Office: (888) 780-5940 x251

This is taken from Star Publications of Malaysia.

"WITH crude oil hitting a record price of US$108 per barrel recently, the search for oil and gas has been more intense than ever due to its high profit margin.

In recent years, investing in the extraction of oil from sand or oil sands is gaining popularity because of the strong demand and high prices of oil.

It was reported by Time Magazine in a recent article that second only to the Saudi Arabia reserves, Alberta's oil sands deposits were described as “Canada's greatest buried energy treasure,” which could satisfy the world's demand for petroleum for the next century."


So that brings the countries investing in Alberta to France, China, Norway, the Middle East, America, Japan and now Malaysia. They see something that is a sure bet with the price of rising and demand constantly increasing.

Read more about Alberta's HOT economy Click Here.

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