Edmonton: the Oil Capital of Canada

October 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.  


Sorry, no vacancies: Edmonton's blistering real estate market has put the squeeze on rental accommodation

 

Les Michaelson in front of his 18-suite rental property building on 80 Ave. near 105 St.
Photograph by : Ed Kaiser, The Journal

Ron Chalmers, The Edmonton Journal

Published: Saturday, September 16, 2006

Read the full story in the Edmonton Journal

 


Our guest speaker this month will be: 

CECIL N. BUTT, AACI, P.App, CRP 

Of Henderson and Butt Appraisal Consultants Ltd

205 Klondike Centre  11062-156 St Edmonton Ab

Tel 780-486-5158 Fax 780-486-6226

www.hendersonandbutt.com 

email admin@hendersonandbutt.com

Cecil will be speaking about his new Home Renovation Guide 2006. Local real estate trends. The appraisal process and changes to his industry. Cecil has been operating in Edmonton since 1989 and is a great asset to all real estate investors. Please have your questions ready to ask Cecil at the end of his seminar. This is an exciting presentation you will not want to miss!!!


           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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HIGHLIGHTS OF SEPTEMBERS MEETING

Edmonton Revenue Property Investors Association      Sept 12, 2006

Les opened the meeting at 7:08 pm .with the introduction of new members. This was followed by the members Buy and Sell listings. Les gave us an update on the current market conditions. It remains a sellers market, but is cooling off slightly. Rents are up.

Karen showed us the tool of the month “Zip it.”

Les introduced our first guest speakers Michele Trudeau and Marj from the Landlord and Tenant Advisory Board of Edmonton.  They talked about their role in dispute resolution. Both sides must be willing to talk and try to resolve the problem. We were given handouts as well.

Our second guest speakers were representing Edgeworth properties. They have a major asset based development in the plans for Ft. McMurray.

Katherine Callfas


FROM THE EDITORS MAIL BAG

Hi Les, I am a new member to your real estate club and one thing bothered me about when we had guest speakers.  I really wish everyone would save their questions until the end and then ask questions rather then constantly interrupting the speaker.   Some of people’s questions would also get answered in the process of their presentation.  This would also reduce the time and duration of the meetings.

Thank You John (Good points ed)

Les and Karen,
I appreciated the opportunity to hear Michelle's perspective on the advisory board. A  Big Thank You passed on to you both for organizing the speakers. You had quite a diverse group of people there last night. The Edgewater boys were also interesting. You are the innovative one, to be sure. Thanks again for an informative evening.
regards,
Trudy (Thanks ed.)

Hi.  I would like to know what this club is about? Can you give me as much information about your club? Thanks. (Read the Newsletter and come to a meeting ed.)

Stratacon, Inc has innovative ways to meter your multifamily buildings and bill your tenants for all utilities used. They will have a booth at the Edmonton Apartment Association Trade Show at the Mayfield inn on October 17 2006 all day

Douglas Stewart
Account Executive
Stratacon, Inc. www.stratacon.ca 
403.836.5834

This months Real Estate News Articles And Links

Sign spotted outside of a Newfoundland Restaurant (courtesy of Gail)

Edmonton home prices still rising (3:25 pm)
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... So shoppers can be more patient in searching for the right deal, says Madeline Sarafinchan, president of the Edmonton Real Estate Board. ...

Over 1,000 register for 32 condos
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
EDMONTON REAL ESTATE: Eddo Cancian, CEO, Time Developments Ltd., left, and Randy Klose, president of Urban Concepts LTD, onsite at Trinity Point condos which ...

New disclosure rules set for realtors (4 pm)
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
Realtors must clearly disclose whether they represent buyers, sellers, or both under new rules of the Real Estate Council of Alberta. ...

Calgary Real Estate Market Cooling Off
770chqr.com - Calgary,Canada
CALGARY/AM770CHQR - The Calgary Real Estate market is still strong, however prices have cooled somewhat. However, officials with ...

World Sunflashes
Edmonton Sun - Alberta, Canada
... VIENNA, Austria (AP) -- A landlord who unlocked an apartment after his letters announcing a rent increase went unanswered found the body of an elderly tenant ...

MLS figures up
StarPhoenix - Saskatoon,Saskatchewan,Canada
... home value has changed." According to Janzen's monthly news release, real estate agents are ... the-top housing prices in areas such as Calgary and Edmonton is a ...

London area gains 3,000 new residents
London Free Press - Canada
... London's construction industry and real estate market have been surprisingly strong this ... finished second followed by Vancouver, Oshawa, Edmonton and Kitchener. ...

(Almost) no vacancy in downtown office markets
Globe and Mail - Canada
... Tuesday by real estate services company Colliers International looked at conditions in the downtown office markets of Vancouver, Calgary, Edmonton, Toronto ...

Two-storey homes hot with buyers
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... LePage's latest price levels are similar to those reported by the Edmonton Real Estate Board. But the percentage gains are far greater ...

World Sunflashes
Edmonton Sun - Alberta, Canada
... The listings represent a monetary milestone in American real estate: the first time US homes have broken into a whopping nine figures, according to real estate ...

Cheaper oil has given Canada's economy a cushion
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... Even as the centerpiece of US economic distress a meltdown in residential real estate keeps looking worse, the outlook for energy savings provides a welcome ...

RioCan Real Estate Investment Trust Completes First Closing of ...
Market Wire (press release) - USA
... ONTARIO -- (MARKET WIRE) -- September 29, 2006 -- RioCan Real Estate Investment Trust ... in three new developments located in Calgary, Edmonton and Oakville to ...

Not all gravy for booming retail sector
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... The shopping malls in both Calgary and Edmonton have boosted their leasing fees dramatically. Retail tenants pay two sets of fees: the basic rent, and then the ...

I received an eviction notice after displaying a flag with the ...
AHRC News Services - San Juan Capistrano,CA,USA
By Tenant - Fairview Village. We are renters in Fairview Village, and have been responsible in the community as well as to our landlord. ...

Long-time advantage for sellers balancing out
Globe and Mail - Canada
... 53.5 per cent in the third quarter from a year earlier, while Edmonton logged a ... a shortage of inventory, are among the largest ever seen by real estate agents. ...

Seller's market ends for home owners in Canada
Globe and Mail - Canada
In urban markets in Western Canada, including Calgary and Edmonton, the oil boom ... said Phil Soper, chief executive officer of Royal LePage Real Estate Services. ...

Homeless need new solutions
Edmonton Sun - Alberta, Canada
... notes there are now 4,300 people on waiting lists for some form of subsidized housing in Edmonton. The best form of that kind of housing gears rent to income ...

Healthy house-price spikes in city
Winnipeg Free Press (subscription) - Winnipeg,Manitoba,Canada
YOU don't have to be a homeowner in Calgary or Edmonton to reap the benefits ... good places to be, according to a new survey by Royal LePage Real Estate Services. ...

Home prices won't continue skyrocketing: real estate firm
CBC.ca - Alberta, Canada
... Real estate agents point to Edmonton's population growth, as well as continued investment in the oilsands, as some of the major factors behind the continued ...

Desperation rises for families living in tents in Grande Prairie ...
Calgary Sun - Canada
... normal in boom-time Grande Prairie, about 450 kilometres northwest of Edmonton. ... There's virtually no apartments available for rent, or very few," said Brian ...

Calgary homes going for a song (relatively speaking)
Globe and Mail - Canada
... because its residents are paid enough to support a booming real estate market ... is important to keep in perspective that housing in Calgary and Edmonton is still ...

Canadian Oil Draws World-Wide Mix of Workers
NPR - USA
... Mobile homes can run as high as $300,000. Lance Boucier(ph) is one of the city's top real estate agents. He took me on a tour of ...

Policy ups new home costs
Edmonton Sun - Alberta, Canada
... The average selling price for a single-family dwelling in Edmonton was $316,000 last month, according to the Edmonton Real Estate Board.

Running back to Saskatoon
Edmonton Sun - Alberta, Canada
... The 34-year-old truck driver quit his job in Edmonton last November and moved his ... "Instead of scraping by and having my whole cheque going to rent, we are ...

Condemned house snapped up for $180,000
Edmonton Sun - Alberta, Canada
Need more proof that Edmonton's housing market is scorching hot? ... And neither former owner Robert (Stan) Hatton nor the real-estate agent who sold the problem ...

Home prices to rise about 4% annually
Ottawa Business Journal - Ontario, Canada
... Our report confirms the old adage that real estate is all ... The "stars are aligned" for Calgary and Edmonton to post above-average gains, after 20 years in which ...

COMMENT On the sunny side of Mainstreet
National Post - Canada
... Dhillon and Darrell Cook -- owned fewer than 300 apartment units in Calgary and Edmonton. ... some cases, it will sell them.) This time it charges a higher rent. ...

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Thanks for reading our entire newsletter...see you at our next meeting!!!

Copyright -  Edmonton Revenue Property Investors Association 2006