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Todd & Danielle Millar

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Edmonton the city of entertainment

10-18-09
Todd & Danielle Millar
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

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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Rental Properties and Insurance Coverage

10-12-09
Todd & Danielle Millar

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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Peter Kinch on Canadian Mortgage Rates

10-11-09
Todd & Danielle Millar
If you're riding the variable rate it can be scary sometimes, it can even keep you up at night. With interest rates at historical lows people are starting to wonder when and how high rates will go. Peter Kinch, The Number 1 Mortgage Broker in Canada, has insight on what to expect in the short term and in the next 2 to 4 years.

He points out that interest rates are at their lowest ever which is attracting buyers to the market in turn firming up prices. Housing affordability is very good right now so take advantage while you can.

He also expects rates to go up 3% in the next 2 to 4 years.


Watch the full interview here on CTV News.

Small piece of trivia Mr. Kinch lived in the same city I do in Japan and we have mutual acquaintances - Six degrees of separation!
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Happy Thanksgiving Canada!

10-09-09
Todd & Danielle Millar
This long weekend in Canada is Thanksgiving. We are hard pressed to find a whole bird here in Japan and even if I did I don't know where I'd cook it.

When we do cook Thanksgiving dinners are legendary at my house. Todd is a FANTASTIC chef and always puts out delicious meals that leave everybody wanting more. There never are any leftovers...

In the expat community there are a lot of people alone for many holidays so it's nice when we have impromptu parties with people of all nationalities bringing a dish. I guess it's a true rendition of the original Thanksgiving of sharing.

We have so much to be thankful for; even the bad things that happen teach you to be thankful. When bills come due and tenants leave or rates go up and rents go down everything is a learning experience. Every hurdle you clear brings you that much closer to your goal.

Todd, Ronan and I are really grateful for our excellent team, our mentors, our friends and family and most importantly our partners. We're looking forward to seeing you soon!

Ode to Thanksgiving

May your stuffing be tasty
May your turkey plump,
May your potatoes and gravy
Have nary a lump.
May your yams be delicious
And your pies take the prize,
And may your Thanksgiving dinner
Stay off your thighs!

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