Edmonton: the Oil Capital of Canada

JUNE 2006

 

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Welcome to the Edmonton Revenue Property Investors Monthly Newsletter

It's time again and the monthly association meeting of our group has arrived. For those of you new to this e-mailing here are the particulars.

            Once a month on the second Tuesday of each month a like-minded group of real estate investors meet on the second floor at Rosie’s Restaurant. Located at the corner of 105 St. and 80 Ave.  Arrivals at 6:30 and the meeting starts at 7:00 pm. You are cordially being invited to attend. Attendees are required to pay $5 at the door. There is no annual membership charge yet. All attendees and visitors are asked to buy $5 worth of food to support the use of Rosie’s Restaurant 2nd floor meeting room, and please generously tip your server, this helps to support our free use of the meeting room. Please bring a few of your used real estate or self help books that you no longer require to donate to our library or door prizes.  If you park to the east of Rosie’s in the strip mall parking lot, please pick up a free parking pass from the bar to put on your windshield. 

            Each meeting is different. Even a seasoned investor will be pleasantly surprised with the knowledge gained from attending our meetings. We encourage all attendees to participate at the meetings by asking our speakers your pertinent questions. We need and appreciate your input at all meetings. Like-minded investors can and do learn and help each other to achieve success.

               We really do look forward to seeing you and please bring a friend to our next meeting. If you have a friend that you feel would like to be put on our e-mail list send their e-mail to me.

Our meeting this month will be an open forum with our members telling us about their SUCCESS STORIES! We will be asking members to discuss their best real estate investment deals, giving information on how they found, financed, purchased and hold or sold the property.

Check out CMHC's latest rental market reports HERE!

           We will also be talking about the real estate market, landlording, present housing prices and trends for Edmonton real estate, and many more topics. If you have any real estate for rent or for sale please make up some hand outs to give to any attendees and be prepared to stand up and tell us about your handouts. Please network and socialize with the other members and guests before and after the meeting. If you want to list your for rent or for sale real estate online please visit  Rentex Homes  and  Buy Sell Rent Ads ...register and post your properties.  Please visit our approved contractors site  Bookmark this list as it is not easy to navigate to it from our home page. If you know good contractors email me and I will add them to the site.  I am still looking for good south side apartment and commercial buildings, if you hear of any please contact me ASAP!!

If you have any questions at all please e-mail me at admin@rentexhomes.com or call me at 780-433-1481 regarding any of the above.

    See you all at the next meeting,

    Your cordial President, Les Michaelson

About the Author: Les Michaelson has been an Edmonton Real investor since 1978. His interests are in the hands on operation of acquiring managing and selling of revenue properties of all types. 


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This months Real Estate News Articles And Links

 

REAL ESTATE AUDIO WEEKLY PODCASTS ONLINE: http://www.getrealrei.com/blog/

Homes hot, hot, hot
Edmonton Sun - Alberta, Canada
... That's what happens when, as Edmonton Real Estate Board president Madeline Sarafinchan puts it, you're "riding the crest of a real estate wave."

May a record month for real estate sales
Winnipeg Sun - Canada
... Real estate boards across Canada, along with the Conference Board of Canada ... Edmonton, Calgary, Ottawa, Vancouver, all registered increases in average sale prices ...

Stampede a steal in new Canadian Monopoly
Calgary Sun - Canada
With real estate in Calgary soaring, paying $2.2 million for the Calgary Stampede is a ... National Park or, if you're thrifty, you can bag West Edmonton Mall for ...

Calgary bares brunt
Calgary Sun - Canada
... tax bill, followed by Edmonton, at 18.2%. The province charges homes and commercial property under a market value system, where the real estate value is ...

Jobless rate lowest in three decades
Calgary Sun - Canada
... Health care, social assistance, finance, insurance, real estate, construction and accommodation and food ... up slightly to 3.3% in May, while in Edmonton it went ...

Housing sector stays strong
London Free Press - Canada
... Thomas Real Estate Board saying May saw the second-highest number of homes sold in ... once again with a monthly increase of 4.7 per cent and Edmonton prices rose ...

Princeton cashes in real estate holdings
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... Edmonton, where rates have more than doubled since March, 2005, and office vacancy rates are now under six per cent, the lowest level in 30 years. "Real estate ...

Trizec Properties, Inc. and Trizec Canada Inc. Agree to be ...
CNW Telbec (Communiqués de presse) - Canada
... During this timeframe, we have repositioned Trizec's real estate portfolio with a $5.2 billion acquisition and disposition program.

New-house prices shoot higher
Globe and Mail - Canada
... ”New house price gains are trending toward levels not seen since the real estate boom of ... 4.7 per cent on a month-over-month bases and Edmonton experiencing a ...

Long-vacant building may face demolition
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... former Bank of Montreal Building has been bought for $4.1 million by Dundee Real Estate Investment Trust of Toronto, from Worthington Properties of Edmonton. ...

The Donald doesn't do diapers
Edmonton Sun - Alberta, Canada
... "I would say I have," the 59-year-old real estate developer said from the baby's suite, which contains gilded mirrors and marble baths. ...

Listings can't meet demand
Edmonton Sun - Alberta, Canada
... "Record sales are causing our housing inventory to turn over faster than ever," said Madeline Sarafinchan, Edmonton Real Estate Board president.

BC real estate boom could cost us
Vancouver Sun (subscription) - British Columbia, Canada
... to $192,000 in Quebec, according to the Canadian Real Estate Association. The report, to be discussed later this week by the premiers in Edmonton, proposes a ...

$1 million isn’t what it used to be
ChronicleHerald.ca - Halifax,Nova Scotia,Canada
... Born in Germany, Mr. Meyer has been selling real estate in Cape Breton for almost ... says Mr. Meyer, "but for someone returning from Calgary or Edmonton, it’s ...

Life in the not-so-fast lanes
Globe and Mail - Canada
... of Ms. Jacobs's highway-busting skills rapidly spread to Vancouver, Edmonton and Halifax ... Asked to explain the boom in real-estate values in parts of downtown ...

RCMP initiative teaches how to spot money laundering
Airdrie Echo - Airdrie,Alberta,Canada
... "We’ll talk to Chambers of Commerce and real estate boards," Scott ... Brian Reteff, of the Edmonton integrated proceeds of crime unit, internationally, money ...

Western Canadian housing market overheating: BMO-NB economist
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... He said the American real-estate surge is drawing to a close after sales peaked last summer, "but just as US housing is finally cooling down, there are signs ...

Oshawa tops incomes list
Globe and Mail - Canada
... said Cindy Symons-Milroy, director of economic development and real estate for the ... highest per-capita income of the country at $34,100 — Edmonton and Ottawa. ...

High-end estate homes exude luxury, style
Business Edge - Calgary,Alberta,Canada
... The raw numbers aren't as high in Edmonton, where the real estate board's MLS website reveals 14 homes listed above the $1-million mark and three over $2 ...

Real estate scene land of milk and honey
Business Edge - Calgary,Alberta,Canada
... Inc., an Edmonton-based real estate management and development company, noted one way to address the labour shortage is to set your company apart by making it ...

Landlord has faith his investments in property will pay off
Norwich Bulletin - Norwich,CT,USA
Landlord Michael Conti believes in the lower Boswell Avenue neighborhood and has spent recent years pouring money into properties on the street. ...

Notorious landlord dumping properties
St. Petersburg Times - St. Petersburg,FL,USA
Steven Green, who is known for the many code violations at his apartment complexes, has sold eight of them. By BRADY DENNIS and JEFF TESTERMAN. ...

Manhattan Real Estate Prices Continue To Soar
NY1 - NY,USA
The housing bubble may be deflating in the rest of the country, but the New York City real estate market is hotter than ever. According ...

Housing stocks plunge! Housing is next! (by Mike Larson)
Money and Markets - Jupiter,FL,USA
A year ago, when our real estate specialist Mike Larson told a group of analysts that the housing bubble was about to bust, he practically got laughed out of ...

TENANTS CLAIM SHAKE DOWN
The Jersey Journal - Jersey City,NJ,USA
... Paterson. The landlord also was fined $10,000 and will be fined an additional $500 each day repairs are not made, city officials said. ...

Foreclosures Continue to Rise in Southern California, According to ...
Yahoo! News (press release) - USA
... "Just as we reported back in March, the real estate bubble continues to deflate in Southern California," said Serdar Bankaci, president and chief executive ...

Neighbors Say Rat Problem Getting Better
WKYT - Lexington,KY,USA
... The landlord of the woman who lives there says the woman is mentally ill and was feeding the rats because she thought they were gerbils. ...

Will The Housing Bubble Take the Economy With It?
MortgageNewsDaily.com - Scottsdale,AZ,USA
has established his case for an actual and vulnerable real estate bubble and regardless of his reasoning as so what has caused it, where is all of this going? ...

With no water, tenant moves out
Chicago Sun-Times - United States
BY ED SACKS. Q. My landlord did not provide us with water for six weeks. Since ... I called the city, and the landlord was fined. The ...

Calgary prices soar 43%
Regina Leader-Post - Regina,Saskatchewan,Canada
CALGARY -- Average prices of Calgary homes had people shaking their heads Friday as the Calgary Real Estate Board released its monthly statistics showing price ...

Former tenants settle with landlord
Richmond Times Dispatch - Richmond,VA,USA
... who lost their homes when the city condemned the North Side apartment complex as unfit to live in will get thousands of dollars from the landlord to make up ...

Tenants' bad behaviour leaves landlord frustrated
Regina Leader-Post - Regina,Saskatchewan,Canada
The owner of a severely damaged duplex near downtown Regina says he is tired of having to dig deep into his pockets to clean up after unruly tenants leave. ...

The following is an actual request for service received from a tenant.

Hi Les.

Just a note to ask if you could drop by and fix the running toilet.

It has been getting progressively worse over the last few weeks to

the point today where it was running full out.

I took apart the valve in the tank to see if lime deposit was

the culprit but aside from a bunch of black goo, calcium deposits

were not the problem. Bending the float arm as an option did not

solve the problem. It appears that not only has the pivot bushing for

the arm has been worn enough to reduce leverage pressure, but the

valve seat appears to have been compromised.

I feel no amount of superficial work can alleviate this

defect. A full engineering report will be forth coming next month

when our 12 man engineering review panel convenes after hearing back

from a multi-disciplinary investigative research inquiry team's

exploration into this pivotal (bad pun) disaster.

Respectively yours,

David (Dist. BS Manager)

 

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Copyright -  Edmonton Revenue Property Investors Association 2006