Edmonton: the Oil Capital of Canada

MAY 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 as we may bring in special guest speakers for each meeting. Each speaker is uniquely qualified in his or her own specific field of expertise. 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 guest speaker will be Richard Goatcher. He has worked in Edmonton since 1997 as CMHC’s Senior Market Analyst with responsibility for the Alberta Capital Region and, more recently, Canada’s three Northern Territories.

Prior to this appointment, he held a similar position at CMHC's Winnipeg office for over 10 years, producing economic, demographic and housing market forecasts for Manitoba. He has also worked in mortgage underwriting - primarily dealing with apartment financing and development.

He is currently the Chair of the Canadian Home Builders Association - Edmonton Region’s Economic Forecast Committee and is a member of the Economics Society of Northern Alberta’s executive committee.  

Here is the PDF presentation many of you have asked for:

The special topic will be Edmonton Housing Market Outlook - Spring 2006.

 

           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

Why You Should Belong To A Real Estate Investment Club

Alberta touted as hot spot for real estate investment
Vancouver Sun (subscription) - British Columbia, Canada
... Canada to invest, Edmonton, Grande Prairie, Alta., and Calgary are noted as the hot spots in the country for buyers to make money in residential real estate. ...

Melcor Developments Ltd., EDMONTON AB (TSE:MRD) Releases First ...
Canada NewsWire (press release) - Canada
EDMONTON, May 1 /CNW/ - Melcor Developments Ltd., an Alberta based real estate development company recorded net earnings of $7,105,000 or $0.23 per share (basic ...

Prepare for change, advises energy analyst
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... Gobert steers clear of Alberta stock and real estate boosters who gloat about oil and gas price windfalls. He avoids conspicuous ...

TOM McFEAT:
CBC News - Canada
... figures from the Canadian Real Estate Association. Average prices in March reached their highest level ever in Victoria, Calgary, Edmonton, Saskatoon, Winnipeg ...

Oil driving economy
Edmonton Sun - Alberta, Canada
... The real estate market in most Canadian cities is overheated too. To boot, foreign investors finally recognize Canada as the place ...

Despite red-hot real-estate market, city remains relatively ...
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
Saturday's lead Journal story detailed Edmonton's changing housing market ... the city into an officially "hot" jurisdiction in national big city real-estate circles ...

Houses selling like hotcakes in cities
Ottawa Sun - Ontario, Canada
... major Canadian cities during the first quarter, the Canadian Real Estate Association reported ... Calgary, Edmonton and Toronto led the way for home sales in the ...

How the Conservatives will affect real estate
Victoria News - Victoria,British Columbia,Canada
... Let me use an example, using our favourite thing in the whole world to buy - real estate. ... Above all, the real estate market is an important thing to protect. ...

In Brief: Home sales record
Toronto Star - Ontario, Canada
... number of homes were sold in major Canadian cities during the first quarter, led by Calgary, Edmonton and Toronto, the Canadian Real Estate Association reported ...

Home sales higher than ever
London Free Press - Canada
... higher interest rates," said Gregory Klump, chief economist at the real estate association ... Calgary, Edmonton and Toronto led the way for home sales in the first ...

Hot housing market feeds inflation rate
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... price gains are moving up toward levels not seen since the real estate boom of ... led the way with a searing 22.8-per-cent increase, followed by Edmonton at 12.4 ...

Manufacturing's share of GDP up slightly in January
Machinery and Equipment Magazine - Toronto,Ontario,Canada
... In addition, sales of existing homes increased markedly in major metropolitan areas, particularly in Calgary and Edmonton, helping real estate agents and ...

Calgary housing prices mark milestone
CBC.ca - Alberta, Canada
... about $5,000. The president of the Calgary Real Estate Board, Kevin Clark, says he's never seen anything like it before. The average ...

Canada's housing prices remain superheated
Ottawa Citizen - Ontario, Canada
... house price gains are moving up toward levels not seen since the real estate boom of ... the way with a searing 22.8-per-cent increase followed by Edmonton at 12.4 ...

Hot housing market leaves out-of-towners out of luck
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
EDMONTON - Already stoked by hot demand, the Edmonton real estate market is now being fired on the supply side by fewer homes on the selling block. ...

Better boom than bust
Edmonton Sun - Alberta, Canada
... Last week, the Edmonton Real Estate Board revealed no let-up in the city's amazing housing boom - with year-over-year records set in all categories. ...

House prices rise in February
Globe and Mail - Canada
... “New house price gains are moving up toward levels not seen since the real-estate boom of the ... In Edmonton, prices are 12.5 per cent higher than a year ago. ...

Where to invest in real estate now
Canadian Business - Toronto,Ontario,Canada
... Canadian Real Estate Association (CREA) figures show the average home price from February 2005 to February 2006 rose 26% in Calgary and 15.5% in Edmonton, both ...

Western sales skew national percentage
London Free Press - Canada
... soared 31.2 per cent in Calgary, 22 per cent in Edmonton and 16.9 ... Also yesterday, the Toronto Real Estate Board said 19,831 resale transactions took place in ...

Canada's housing market off to a solid start in 2006
CNW Telbec (Communiqués de presse) - Canada
... into sizeable year-over-year increases in average house prices in Edmonton. ... Victoria's real estate market eased from the frenzied pace of 2005, resulting in ...

Buffett: Real estate slowdown ahead
CNN - USA
... can move in a big way. You can get real discontinuities. We've had a real bubble to some degree. I would be surprised if there aren ...

KILED BY LANDLORD'S GAS BOILER
Mirror.co.uk - London,UK
A GIRL of 11 was gassed to death in her sleep after her landlord ignored warnings that a boiler was a death-trap, a court heard yesterday. ...

Land 'Gold Rush' Is Slowing
The Ledger - Lakeland,FL,USA
... But that doesn't mean the bubble is bursting. ... a lot of work," said Dean Saunders, owner and broker of Coldwell Banker Commercial Saunders Real Estate and a ...

Island real estate remains hot spot
Nanaimo News Bulletin - BC, Canada
... prices to fall. Darrell Paysen, president of VIREB, said the real estate surge is not a bubble about to burst. “BC consumers remain ...

Real estate slows, commodities speculative: Buffett
MarketWatch - USA
... "We've had a bubble to some degree," he said, noting that Berkshire has a good view of the market through the thousands of real estate agencies it owns. ...

Welcome to the dead zone
CNN - USA
Real estate survival guide: The great housing bubble has finally started to deflate, and the fall will be harder in some markets than others. ...

From Bubble to Rubble
The New American - USA
... Kate Incontrera of the Daily Reckoning newsletter describes Wayne County as “ground zero for the real estate bubble, an example of the absolute worst-case ...

Sales down, prices up
Campbell River Mirror - British Columbia, Canada
... saying all along, there isn’ta bubble. BC consumers remain confident in their economy, which is reflected in the strength of the real estate market,” he ...

Real estate survival guide
CNN - USA
... is a sign of what may be coming in the rest of the bubble zone -- the ... in recent years and account for 60 percent of the nation's residential real estate value. ...

Another shoe drops in California Real Estate?
LAVoice.org - Los Angeles,CA,USA
The burgeoning value of LA's real estate market is ... Speculative bubbles occur when real drivers of growth ... of stupidity (see for example, the Internet Bubble). ...

Landlord's Plans Could Oust 211 Needy Families
Washington Post - United States
The owners of a low-income housing complex 10 blocks north of the US Capitol plan to terminate the federal contract that pays the rent for 211 poor families ...

Tenants get break under new rent rules
Toronto Star - Ontario, Canada
... Yesterday, the Liberals introduced legislation that removes many of the landlord-friendly measures the last Progressive Conservative government introduced, but ...

Real Estate Writer Louis Hill releases eBook: How To Prosper In ...
PowerHomeBiz.com (press release) - USA
... The eBook, released last month by Internet publishing company OutstandingEBooks.com, will protect readers from the real estate bubble and help them prosper as ...

Bubble debunked
Calgary Sun - Canada
... With the city once again experiencing tremendous growth, fuelled by the energy sector, some are questioning whether another real estate bubble exists. ...

Real estate reality buried in Business
Sun-Sentinel.com - Fort Lauderdale,FL,USA
... chief economist, David Lereah, where this highly credible and noted national real estate expert said ... They're telling us we're in a bubble and that we're going ...

How Close is a Real Estate Meltdown?
Gold Seek - USA
... Although the real estate bubble could see some "air" escaping during this time, the overall bubble probably will not burst until the last of the longer-term ...

Landlord: Bush's parents didn't pay $54,000 in rent
KESQ - Palm Desert,CA,USA
The landlord, Michael Michaels, told the San Diego Union-Tribune and the Los Angeles Times that he planned to file a three-point-two (m) million dollar lawsuit ...

US housing woes may bode ill for Canada
Globe and Mail - Canada
... Inc. doesn't think Canada's real estate market is heading for a fall. ... says. "We don't think there's a bubble in Canada in any regard.". ...

Tide Starts to Turn for Prospective Buyers
Lakeland Ledger - Lakeland,FL,USA
But make no mistake, Polk County's housing bubble isn't bursting, it's ... said Beverly Page, a Realtor with Coldwell Banker Residential Real Estate in Lakeland. ...

Landlord Sought for Stealing Electricity
WLBT-TV - Jackson,MS,USA
By Roslyn Anderson. The City of Jackson has shut down another apartment complex for illegal utility connections. It's the second ...

Family Battles Landlord Over Condition of Apartment
WCAV - Charlottesville,VA,USA
... She has been damaged and there is a chance that part of that damage is the responsibility of the landlord," said Tim Kelsey of Boyle, Bain, Reback & Slayton in ...

House values may be rising
Cincinnati Enquirer - Cincinnati,OH,USA
... About 75 percent of lenders nationwide think that a real estate bubble exists - or that home prices in many parts of the country have been bid up to 

Porch Collapses, Two People Sent to Hospital
WTRF - Wheeling,WV,USA
Victims say they told the landlord about the problem. The landlord says he never received a phone call. ... The landlord says the tenants are behind on their rent. ...

Landlord in the middle as tenants feud
Chicago Sun-Times - United States
... Can she legally break the lease? A. The landlord has a duty to provide a rental environment that does not interfere with tenants' basic use of their units. ...

Landlord's pattern: Renting unsafe units
Canton Repository (subscription) - Canton,OH,USA
... Bonacuse, now 71, says he wants to get out of the landlord business and sell his remaining 11 buildings. Rogers said she’s heard that before. ...

Doors Close for Real Estate Speculators
Washington Post - United States
... For example, the local Internet blog Bubble Meter focused in last month on ... County, a park bench outside the building bristles with real estate agent lockboxes ...

Landlord in Trouble with the Law
WBAY - Green Bay,WI,USA
Three different properties in Green Bay are referred to in an 8 page criminal complaint charging landlord Despina Gerakis with 13 misdemeanors. ...

Inspection Would Have Kept Gutter From Being Landlord's Problem
Washington Post - United States
... Who is responsible for maintaining the downspouts, the tenant or the landlord? ... This is a win-win for the landlord and tenant but often overlooked. ...

Forecast looks at San Diego’s economy
The UCLA Daily Bruin - Los Angeles,CA,USA
... will be focusing on San Diego because its housing market is the first to follow a nationwide trend of depreciation and a cooling of the real estate bubble. ...

Makers & Breakers Make Money In Real Estate
Forbes - USA
That sound you hear is the real estate bubble popping. Or so thinks Wall Street. When new home sales slipped 10.5% in February, it ...

BUBBLE? WHAT BUBBLE? PRICES IN THESE HOT MANHATTAN AREAS SHOW NO ...
New York Post - New York,NY,USA
... In other words, the much discussed real-estate "bubble" still hasn't burst. On the contrary, the overwhelming majority of Manhattan ...

Wealthy Escape Home Market
Voice of San Diego - San Diego,CA,USA
... Nevertheless, Thompson said the perception that the real estate market is in a "bubble" has certainly played a part in raising concerns about property assets ...

The Real Estate Bubble is Real and Bursting
Political Cortex - New York,NY,USA
... inaction is regretted. Such is the case with the hotly debated US real estate 'bubble'. Does it exist or does it not? Those who ...

City Housing Sends Landlord To Jail For Building Neglect
NY1 - NY,USA
It doesn't happen often; City housing officials say it's an extreme step, but one they plan to take Friday when they send a landlord to jail for failing to

Buying home called best wealth builder
Chicago Tribune - United States
... Or if you're convinced your area is experiencing a real estate bubble that soon will see depreciating prices, and rents are relatively inexpensive, that might ...

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Copyright -  Edmonton Revenue Property Investors Association 2006