Thursday, April 7, 2011 - Few Commuter Headaches Reported Along Barlow Trail Detour Routes

The closing on April 4 of 4.5 kilometres of Barlow Trail did not result in significant commuting problems in Calgary. Although traffic was heavier on Deerfoot Trail and McKnight Boulevard, no major problems were reported in spite of the blockage of an important artery to the region’s airport.

One reason that there was an avoidance of chaos was the fact that drivers had been informed for the past year about the road closure. Transportation department spokesman Conrad Hild said that the city posted multiple signs regarding the closure, and that the signs had been up for months.

Roadblocks placed on Barlow were manned by police cars as well as vehicles from the airport authority. Only a few drivers claimed to be unaware of Barlow’s closure.

Some 36,000 vehicles that traveled on Barlow are now using a detour involving Stoney Trail, Deerfoot and 36th Street N.E. Later this summer, drivers will be able to use a new extension of Metis Trail, allowing them to travel to Country Hills Boulevard.

The airport continues to be accessible by way of the Airport Trail, as well as on the portion of Barlow that is south of Country Hills Boulevard. Calgary Airport Authority spokesperson Jody Moseley said that traffic seems to be moving smoothly on the detours. She noted that drivers have done their homework in terms of finding other routes to get to and from the airport.

In related news, information may be forthcoming about the proposed Airport Trail tunnel. The tunnel would be constructed under the airport’s new main runway.

Monday, March 28, 2011 - TransAlta Building Second Windmill Project in Quebec

TransAlta Corporation is Canada’s biggest independently owned power producer. The Calgary based firm just landed a $205 million windmill project on the Gaspe Peninsula in Quebec. Called the New Richmond wind farm, it will be the second in the province of Quebec. It will boost the company’s wind generation abilities in the region to 1,130-MW.

The project includes 33 wind turbines and will be started this coming April. The provincial government just gave approval this past Monday. Other regulatory approvals are in progress, but TransAlta has been given permission to go ahead.

TransAlta’s original wind farm is also on the Gaspe Peninsula and is called the 99-MW Le Nordais wind facility. Once New Richmond is online it will be able to provide power for roughly 10,500 homes in Quebec. TransAlta produces more than two thirds of the wind generated energy in Canada, which in total has a 3,549-MW capacity.

Thursday, March 17, 2011 - Canada’s Fresh Water: How to Conserve it, Now and in the Future

To most Canadians, an unending supply of water is taken for granted. Not that it is not considered a precious commodity: A survey conducted in 2010 indicates that nearly half of the respondents believe that fresh water happens to be the country’s most significant natural resource.

Canada’s water supply is already at risk in some parts of the country, and will be in this state in more areas in the future.

What can people to do curb their water usage? Homeowners have some simple options available to them.

Install a low-flow showerhead. According to Statistics Canada, 62 percent of all households now have at least one.

Replace the old toilet with a reduced-volume model. As of 2007, this water-saving device was in place in some 39 percent of all households.

Repair those pesky leaking faucets.

Turn off the water when you are brushing your teeth, and do the same thing while washing the dishes. Make a conscious effort to watch that running faucet when it is not actively in use.

Instead of waiting for water to reach the right cool temperature when you need a drink, keep a large water container in your refrigerator.

If your washing machine does not have a load size option, wait until you have a full hamper before you do a load of laundry.

Use a rain barrel to collect water, and use that water on your indoor plants.

On hot summer days, water your garden and lawn in the early morning or early evening, when the water is more likely to soak into the soil, and less likely to evaporate.

Trees, bushes and plants need less water than grass. Consider a new landscape solution that uses more of these attractive plantings than an all-turf scheme.

When cleaning your driveway, sweep it with a broom rather than wash it down with a hose.

Always use a trigger nozzle on your hose. Never let it run continuously.

If you live on the water, be careful of what you dump into or near it. Do not use pesticides on any plantings near the shore, as the toxins can easily enter the water supply.

Following these steps will help to maintain Canada’s prized resource – for you, and for generations to come.

Thursday, March 10, 2011 - Canadian Household Debt Peaks, But So Does Net Worth

Although Canadians are in debt at the highest levels on record, conditions are better than they appear. The average Canadian household has liabilities of $112,000, but assets have grown concurrently to record peaks, as well. The country is steadily recovering from the effects of the global recession, and this recovery should help to increase individuals’ net worth.

The Canadian debt-to-income ratio exceeded that of the United States from July through September of last year, reaching a peak of 150 percent. Since 2000, Canada’s cumulative debt grew by more than 100 percent, reaching $1.5 trillion.

Debt in the U.S. increased by 160 percent at a time when Americans were feeling the impact of the country’s housing crisis. The U.S. relied too heavily on the housing industry as an economic stimulant, and at the same time granted mortgages with all too few regulations. The burst of the home-price bubble further sent the economy into a tailspin.

Friday, February 25, 2011 - Forecaster Predict Calgary Will Have Soaring Retails Sales Through 2015

Calgary and its surrounding regions are expected to have very healthy retail sales well into 2015, to the tune of $28.678 billion per year. The increase of $7.2 billion per year is far above the national annual growth rate. This was after a 9.1 percent decline in 2009. But time in the red proved to be fleeting since in 2010 there was a 5.1 percent increase in sales to finish the year with $21,433 billion in total.

Starting in 2011 and into 2015 the expected annual growth rate is expected to increase each year. In 2011, the increase should be 5.0 percent, then 6.4 percent for 2012 and 2013, then 6.1 percent for 2014 and then finishing the cycle with a 6.2 percent growth. The local economy, spearheaded by the gas and oil industry, is improving nicely, thus causing higher consumer confidence and more discretionary spending. The number of busy shopping malls and retail outlets attest to this and more are already in the works.

Alberta’s economy is more stable than anywhere else in North America and that continues to attract retailers, residents and shoppers. There are jobs to be had, homes to be bought and furnishings needed to beautify those homes. Province wide, Alberta is looking at a strong five year growth as well. The province did see an 8.9 percent decrease in sales in 2009. But, in 2010 those sales increased 5.0 percent to $59.315 billion. By the 2015 the forecast is for $76,681 billion in annual sales.

Friday, February 18, 2011 - Calgary Enjoying 0.7 Percent Inflation Rate, Lowest in Canada

Shopping in Calgary is a bargain. This past January prices rose by only 0.7 percent in the greater Calgary region, compared to January of 2010. That is the lowest in the nation, calculated by Statistics Canada. The rate of inflation in Alberta was only one percent, again the lowest of all the provinces.

ATB Financial’s Dan Sumner notes that the largest increases are being seen in the transportation sector. Gasoline is 11.4 percent higher than it was in January of 2010. Food prices are up 1.9 percent, mostly for meat products. The Canadian Dollar’s strength has kept imported food prices down which include much of our fruits and vegetables during the colder months.

One of the reasons for Alberta’s inflation rate besting the nation is because British Columbia and Ontario initiated the Harmonized Sales Tax and Quebec started a new Quebec Sales Tax. Natural gas prices for the consumer are also down 24 percent over last year, compared with an average of 3.3 percent less in the rest of the country.

Sumner believes that over the next year the impact of these issues will fade and Alberta will come more in line with what is happening in the rest of Canada. Per Statistics Canada, nationally there was a 2.3 percent increase in consumer prices in the last year, with December showing a 2.4 percent increase.

Wednesday, February 9, 2011 - Calgary Council Approves a Measure to End Water Fluoridation

Calgarians may soon have drinking water free of fluoride. City council, after a heated debate over the issue of the additive itself and whether to put the matter to a public vote, passed a measure to ban fluoride by a vote of 10 to 3. Now the measure goes to Alberta Environment. That agency must amend Calgary’s water license, a process that usually takes months.

Not everyone is pleased. After all it did take six public votes, beginning back in 1957 to get the mineral added to the water supply and that did not happen until 1991. Alberta Health believes that this was a bad decision. Parts of Calgary have enough naturally occurring fluoride in their water, but the mineral is sadly lacking in others. Alberta Health, as well as the Alberta Dental Association fear an increase in cavities and tooth decay, particularly in young children.

Ironically it is the dental condition called fluorosis that is at the root of the conflict. This condition is caused when there is too much fluoride in the body and it shows up as dark spots on teeth. The Canadian Dental Association has already come out with a statement that most children are not affected and the offset is better oral health. Other issues the critics addressed were possible brain impairments and the fact that the government is adding a substance to a city’s water supply when not everyone is in agreement which takes away from an individual’s right to choose.

Wednesday, January 26, 2011 - CREB Thinks New Mortgage Rules Won’t Have Much Effect on Calgary Market

Calgary Real Estate Board’s president Sano Stante doesn’t think that the new mortgage rules just laid out by the federal government will have much affect on the Calgary resale housing market. Stante has already predicted an increase of 20 percent in sales for 2011 in the single-family part of this market.

In 2010 there were 12,095 single family resale properties sold. Stante is also predicting that the condo market will see a 16 percent increase in sales, with some 6,000 units changing hands. The average price of a single family home in 2011 is expected to be $480,000 and a condo is expected to come in at an average of $295,000. That is an increase of a bit more than four percent and just under two percent, respectively.

The new rules, set to take effect in March, include changing the amortization period from 35 to 30 years on homes with loans on over 80 percent of a home’s value. Refinancing limits have been set to 85 percent of home value, down from the current 90 percent. Ottawa will also stop guaranteeing lines of credit on those homes.

Stante thinks there might be an increase in home sales, particularly in the lower end price range, prior to the rules going into effect. He remains positive about the total effect on the entire market because of Calgary’s increased job numbers and more people moving into town for those jobs and subsequently looking for homes.

Thursday, January 18, 2011 - Calgary Home Sales Numbers Lower Than Canadian National Average

Calgary is expecting an improved residential real estate market in 2011. The city ended 2010 with a growth rate and average sales price that were lower than the Canadian average. The Canadian Real Estate Association listed the average price for a residential property across all types at $398,764, a 3.3 percent increase from 2009. Nationally, the average home price rose to $339,030, a 5.8 percent increase. Of course this meant that Calgary home prices were above the average to begin with.

Comparing sales on a year to year basis, in Calgary sales dropped 15.6 percent in 2010 from 2009. The average decline across the nation was 3.9 percent. The number of homes changing hands was 20, 996 and 447,010 respectively. New listings in the Calgary region went up by 11.1 percent, compared to 7.5 percent across Canada. By the numbers this is 46,278 units and 853,489 units respectively.

Forecasts from the Royal LePage House and Market Survey indicate that average home prices in Calgary will climb some 5.4 percent during 2011. Sales are expected to increase 6.7 percent over figures in 2010. The only city in Canada predicting a higher climb in prices is Winnipeg, at seven percent. A flurry of bids in the latter quarter of 2010 also indicates that sales and prices are already showing signs of stabilizing.

Thursday, December 23, 2010 - Fledgling Alberta Party Giving Albertans New Political Voice

Did you know that Alberta has a new political party? Surprise. And it’s not so new. Simply called the Alberta Party, this low mileage group has been around since 1985, but it wasn’t until 2009 that the party actually established itself as a newly recognized centrist party.

The Renew Alberta movement, created by people dissatisfied by the performance of the status quo joined forces with the Alberta Party last February. The group started a project called the Big Listen, intending to get Albertans involved in their political movement by having town meetings and engaging them on internet social media sites such as Facebook and Twitter.

Sue Huff, the Alberta Party’s acting leader was impressed that a political party actually wanted to know what the average Albertan thought, wanted and/or needed. Huff is a former trustee on the Edmonton Public School Board and a 20 year resident. The party held a convention this past November in Calgary and issues such as retirement, health, economy, debt, the environment and entitlements were discussed.

The Alberta Party appeals to all age groups but there were large numbers of Albertans that were in their twenties and thirties. Not exactly surprising since these are the age groups most likely to communicate through the internet. Party meetings are scheduled for Morinville and St. Albert in January.

Monday, December 13, 2010 - Calgary Fire Department Leading Push for Sprinklers In New Homes

The Calgary Fire Department is at the forefront of those wanting to make sprinklers in new homes a mandatory requirement. The provincial fire and building code was changed just two years ago, but it does not go far enough. Calgary’s building and development approval departments would also like to see changes in the requirements of how close to a property line a building may be before special fire protective measures are required.

All of this is in the interest of safety and saving lives. New homes tend to burn more quickly than older ones. In the 1970s people had an average of 17 minutes to get out of a home that was on fire. By 2003 that window decreased to a mere three minutes. Fire Chief Bruce Burrell noted that in homes with sprinklers, there were no known fatalities.

But Calgary just can’t up and change the fire and building code laws. They are under provincial jurisdiction. Burrell and other fire chiefs throughout Alberta want the Safety Codes Act to be modified so that individual municipalities can create bylaws that work for their community.

The Canadian Home Builders Association is not in favor of the mandatory sprinklers, saying that the incorporation of a residential sprinkler system should be up to the homebuyer. They also cite the fact that the province has already updated the building codes that now include specifics on what types of materials may be used in construction, with the emphasis on the use of fire resistant brands.

Friday, December 3, 2010 - What’s Life without a Little Bit of Disbelief?

If you can’t see it, hear it, touch it, smell it or taste it, it doesn’t exist. So much for the legend of Ogopogo or the Leprechauns and their pot of gold. No more tooth fairies. No more Madam Pele in Hawaii. Well, maybe not that one, there is always Kilauea and she’s not afraid to start that lava up again. Oh, yes, the big one. No more God.

That is the point that Centre for Inquiry is trying to make by putting ads on Calgary buses with messages questioning that which cannot be proven. Unfortunately, the inclusion of God, in all of His names, is being placed beneath the slogan “Extraordinary Claims Require Extraordinary Evidence.”

John Trotter, the Centre’s executive director wants to take his campaign across Canada. His first target is Toronto, set to have their streetcars plastered with the ads by January. Next on his list are Montreal, Vancouver and Calgary, all intended to have the messages up and running sometime during 2011. Looking at that list, some cities will be more inclined than others to put the atheistically bent ads on public display.

Similar ads already ran last year in Calgary, posted by the Freethought Association, at the time headed by Trotter. They understandingly received resistance from various faiths in the community. The United Church of Canada pushed back with their own ads, affirming God’s more than probable existence. No word yet whether Calgary will have their buses used as a sceptic’s sounding board this time around.

Thursday, November 25, 2010 - Calgary’s Retail Sector Is Healthy With The Lowest Vacancy Rate in Canada

Calgary’s retail vacancy rate is astoundingly low, and currently the envy of cities throughout North America. At the end of the 2010 third quarter, the rate was 1.43 percent, down a bit from the 1.48 percent in the spring. The expectation is that the rate will remain low for the foreseeable future. Forecasts place the rate at holding between 1.2 and 1.35 percent.

Currently there are 26 projects in the works, which will add almost 8.7 million square feet of available retail space. These projects are either already in construction or in the planning or permitting stages. These projects are being driven by strong retail sales, thus the need for new space. Retail sales in the Calgary area average 25.8 percent higher than Canada’s national average.

One major project came on line this fall. The Chinook Centre opened its 180,000 square foot expansion, already housing 71 new retailers in its $280 million setting. Another healthy amount of retail space will soon be available downtown when the CORE project is completed, an enhancing of the TD Square-Calgary Eaton Centre locale. International retail outlets are attracted to these and other retail space offerings around the city.

Rob Walker, from Colliers International believes that the international firms, particularly those from the United States, are interested in Calgary because of its stable economy. The city suffered less than the rest of Canada during the recession and wisely did not overbuild.

Friday, November 12, 2010 - Stampede Gets $400 Million Face Lift

Calgary’s Stampede Park, home to arguably one of the world’s largest western events, is about to get a $400 million face lift. Warren Connell, who is the vice-president of the developmental side of the Stampede, unveiled the plans for the make-over, due to be completed by 2014.

Included in the plans are a retail/entertainment complex called Stampede Trail, a new River Park following the banks of the Elbow River, a new exhibit hall and agricultural arena and a campus dedicated to the youngest contributors to Stampede Park. Connell advised that the park was in the midst of several projects when the economy tanked. Now that the recession is pretty much behind the country, everything is once more in “go-ahead” mode.

Not all the funding is in place, but the projects will be done in segments as money comes in. A major sponsor with the River Park project pulled out when the economy soured so that is one area that is in need of donations and/or grant money. The Western Event Centre, which is the arena and exhibit hall, just received permit approval and a $25 million federal grant, so that is going ahead.

The Stampede Trail, which is being looked after by Denver based Alberta Development Partners will run along Olympic Way leading into Stampede Park. Jimmy Buffett’s Margaritaville eatery will have a place in the new development. Other improvements include a 1,000 space parkade to be completed before the 2012 Stampede and a 4th Street Underpass connecting the East Village to Olympic Way, also slated to be finished sometime in 2012.

Monday, November 1, 2010 - Bespectacled Ambassadors from China Expected In 2012

China has agreed to send two of its prized and endangered giant pandas to Canada. These black and white ambassadors from the Far East will arrive sometime in 2012 and stay for up to 15 years. They are being shared by three zoos, starting in Toronto and then moving to Calgary and Granby. There are some fine details to be worked out in the agreement but the deal, nine years in the making, is almost complete.

Toronto will be building a special enclosure for the pandas at a cost of some $10 million. This expense, as well as the $1 million per year needed to import the panda’s bamboo shoot diet from China, is expected to be more than covered by ticket sales. Toronto expects an extra 450,000 people will make a special visit to the zoo just to see these special visitors. An extra fee to see the pandas will be added to the zoo’s regular admission fee.

Toronto expects to have the pandas for at least five years and perhaps as long as seven if they are successful in breeding the pair. Veterinarians with expertise in treating exotic animals, including pandas, will be looking out for the animals. Giorgio Mammoliti, one of the members of the Toronto Zoo Board wants to assure the pubic that the visit will not be harmful to the pandas. After all, if China had any qualms about the idea, they would not have approved the visit.

Monday, September 27, 2010 - Canadian Researchers Studying Zamboni Treatment

The Multiple Sclerosis (MS) Society of Canada has earmarked $1 million in order to kick-start a full clinical trial of the Zamboni treatment.

Named for its inventor, Dr. Paolo Zamboni, the treatment uses stents or balloons in veins in an attempt to treat MS. Zamboni’s research suggested that blocked veins connected to the brain could be the cause of MS.

The procedure is still experimental and not approved yet in Canada; in early September, the federal government said it wouldn’t provide trial funding as not enough evidence existed of the treatment being safe and effective.

The Canadian institute of Health Research released a report in August recommending the government wait to do a trial until more research is done on the treatment; Canadian researchers are currently studying it.

A full treatment trial could likely cost $11 million.

Canadian residents have travelled across the border to the US and Mexico to receive treatment; Gene Zwozdesky, Alberta’s Health Minister, said many MS patients he’s met have received the treatment and have better use of their arms and legs. He is planning to meet with provincial experts soon to discuss how to speed up the research.

Neil Pierece, president of the MS Society of Alberta, said the Zamboni treatment carries the risk of stroke and blood clots, and patients need to consult with their neurologist and doctor before receiving treatment.

Zwozdesky said that once Alberta sees the treatment as safe and effective, it would support a pan-Canadian trial.

Thursday, September 16, 2010 - Product Offers a Rosy Foundation for Local Area Houses

A brand-new product made in Calgary offers a healthy future for wood in new-construction homes. The product’s manufacturer, Pinkwood, offers to contribute toward healthy futures for breast cancer patients.

This great combination is the brainchild of Pinkwood’s unique coating process for all of its building materials. During the coating procedure, PinkShield liquid is applied to wood. Following the application, wood treated with this non-toxic formula takes significantly longer to ignite if exposed to fire. Also, the formula helps to inhibit the rate at which any fire might spread. Pinkwood coatings also help extend the life of the wood. They stall mould growth and also help prevent seepage.

James Lind, Pinkwood president, said that he hopes these benefits will encourage buyers to seek homes made with Pinkwood products. He noted the brand’s safety features, particularly important in the Calgary area, which witnessed a number of house fires. Garth Rabel, Calgary fire chief, said that some of these homes burned rapidly because they were constructed with materials with a higher burn rate than that of plain wood. Rabel said that he is enthusiastic about any product that proves to increase the safety of both residents and firefighters.

As the PinkShield-treated wood is processed in Calgary, several local builders are using it in new-home construction. The ease of availability reduces transportation costs, leading to a lower overall home cost for homebuyers. As a benefit to the community, Pinkwood is contributing a $10,000 cheque to the Breast Cancer foundation for each “pink house” sold.

Greenboro Homes has started to build homes with Pinkwood, starting with the Currie Barracks development. Ryan Armstrong, a spokesman for Greenboro, said that the company will continue using the products in all future homes, and that the homes will be showcased with pink bands. He said he hopes the bands will not only generate awareness of the Greenboro’s use of Pinkwood, but also provide a reminder of breast cancer research.

Thursday, August 5, 2010 - Calgary’s Commercial Vacancy Drops

The current downward trend in office space is being used by Calgary tenants to upgrade their offices.

Calgary’s commercial vacancy rate is currently 10.7, slightly above Canada’s average of 10 per cent. Calgary’s rate is down from the first quarter rate of 11 per cent, but still above last year’s 9.3 per cent.

Avison Young, a commercial real estate firm in Calgary, said it expects the completion of new office buildings will push vacancy rates up again, faster than what Calgary’s market is capable of absorbing. Eighth Avenue Place and Bow Tower will be completed in 2012, adding approximately three million square feet of office space. Vacancy rates are estimated to be around 15 per cent with the completion.

Despite these numbers, the Avison Young report said occupied space is rising alongside vacancy. The report projects that absorption rates will be positive in 2010, finishing with about 2.6 million square feet absorbed.

Positive absorption means that even with new office space, companies are overtaking free space faster than it is becoming available.

Avison Young’s managing director in Calgary, Todd Throndson, foresees some problems in 2001 with the arrival of more commercial space, but said the rental and vacancy rates will stabilize this year.

Monday, July 19, 2010 - Calgarians Emptying Wallets Paying Rent For Their Cars

Want to invest in low maintenance commercial real estate that has a virtually assured income? How about a business that the rigours of a recession slide off of like eggs on non-stick cookware? Build a parking lot in downtown Calgary, downtown anywhere for that matter. Calgarians that work downtown pay an average of $453 for a monthly parking pass. Toronto lots charge $336 on average.

Worldwide it’s even worse. In London’s city centre, which openly discourages car use, a space will set you back $933 USD per month. Even that city’s West End which is slightly more auto friendly will empty your wallet of $874 USD per month. Closer to home, New York workers in Mid-Town Manhattan pay $538 USD per month. San Francisco is a relative bargain at $375 USD but then you have all those hills to contend with. The saved cash you can put towards the brakes and the clutch.

You get the idea. Parking is expensive; there are not enough spaces which causes the prices to go up and waiting lists to grow. The City of Calgary has been working to get people into public transit. They build office centres and condos but very few parking lots to keep up with the added population.

Forcing a population to ride public transit may work in locales like Honolulu, Hawaii where walking or bussing to work in Aloha shirts and sandals is a common occurrence. In Calgary, where the thermometer regularly dips well below freezing, it’s a lot less reasonable. Perhaps the city should take a look at Montreal’s underground city for a cold climate solution to the city’s transit needs.

Monday, July 5, 2010 - Calgary Population: Diverse, Older and Up to 2.5 Million

Reports indicate that Alberta’s population will experience drastic changes during the next 40 years or so. The people living in the province are expected to be older as well as internationally diverse, as the populace continues to increase in numbers. According to the Alberta Population Projections report from the provincial government, more than six million people may be living in the province by 2050. Much of the population increases will be attributable to immigrants.

The Calgary, Edmonton and Red Deer areas are expected to be the cities in which approximately 77 percent of Alberta’s population will reside in 2050. Some 2.5 million people will likely call Calgary their home by that year, and around 1.8 million will live in Edmonton.

Although the largest cities will grow, they will also grow older. The study showed that in 2011, people born in the first year of the Baby Boom will turn 65. This will result in an increase in the median age of an Albertan, from 36 in 2009 to as old as 45 in 2050. Per the report, immigrants will help keep the population somewhat younger, as well as fill jobs left by retirees.

The number of dependent people, classified as non-working individuals such as senior citizens and children under age 14, will grow significantly. The growing number of dependent people will result in additional expenditures for the government. Health care for these people will comprise an even larger percentage than it current 40-percent allocation of the $39-billion government budget.

Alberta Council on Aging President Gary Pool said it is imperative that the provincial government starts to plan for the long term. Pool said that the government should think about boosting the current retirement age of 65, as older people can still be valued assets to the province’s economy.

Wednesday, June 30, 2010 - Carney: All Nations Responsible for Ensuring Global Recovery

Responsibility for restoring global economic stability is in the hands of more than just a few nations, per the Bank of Canada’s Governor. Mark Carney made this comment in a June 15 speech in advance of the upcoming Group of 20 economic summit to be held in Toronto.

Carney said that the world’s economic recovery has been uneven, and that the more advanced powers in Europe, the U.S. and Japan, need to assure others that they truly intend to cut their heavy debts. However, this needs to be done in a way that does not hamper the growing demand around the globe.

Carney advised that up-and-coming economic powers such as those in Asia need to watch the pace of their economies by allowing exchange rates to move more freely without use of stop-gap programs. He said that exercises like this would help keep these countries’ economies from being lopsided as they become dependent on consumers in wealthy countries to power their growth. This set of circumstances contributed to the global recession that began in the fall of 2008.

According to a report released June 16 by the International Monetary Fund, there are indications that trade balances are starting to revert to patterns that existed before the recession. Deficits and surpluses are beginning to increase.

The present account surplus in China, which is used a benchmark of trade activity, decreased to 5.8 percent of the nation’s 2009 GDP, as opposed to 11 percent of the GDP in 2007. The account deficit in the U.S. fell to three percent in 2009 versus approximately five percent in 2007. These changes were a result of the economic crisis. As global recovery continues, these reversals will not be permanent.

Wednesday, June 23, 2010 - Downtown Office Space Might Hit Record Vacancy Rates By 2012

Calgary’s new Eighth Avenue Place will be completed shortly. The Bow, another high rise office tower, will open its doors sometime in 2012. The opening of these two mega office buildings may well push the vacancy rate for downtown business space up to 20 percent over the next couple of years. This prediction is being issued by Cushman & Wakefield, a commercial real estate company, in their mid-year Outlook 2010 report.

To put it simply, it will be a lessees market. The Bow alone will add almost three million square feet of office space to Calgary’s downtown. The vacancy rate for the first quarter of 2010 was 12.1 percent. That figure is predicted to be 16.2 percent by 2011’s first quarter and the Bow won’t be fully in the picture yet.

It is expected that tenants will be looking for more quality space for lower rates. As leases come up for renewal, those clients that are in B and C class inventory will be looking towards moving up. Building owners will have to work at keeping their tenants happy and that will include lease rate bargaining and most likely incentives.

Calgary’s downtown rental market has a definite ebb and flow rhythm to it. During the boom years vacancy rates were down to 0.1 percent, which triggered all the development. Now that the economy has cooled, buildings such as the Bow and Eighth Avenue, which were already underway when the recession hit, are coming online during one of the ebb periods.

Monday, June 7, 2010 - New Predictions For Calgary Real Estate Based On Tepid First Quarter Sales

It seems that MLS sales for the first quarter of 2010 were weaker than predicted in Calgary. The Canadian Real Estate Association has used this fact to revise its sales forecast for the remainder of 2010 and into 2011. The prediction is that real estate sales in Alberta will be 2.9 percent lower this year than last, coming in at about 55,900 units. In 2010, it is expected an additional 0.9 percent drop, or 5,400 units.

This is the direct opposite of February’s forecast, when the sales for 2010 were expected to top out at 63,050 units or a 9.1 increase over 2009. For 2011, though not as dramatic, the figures were in the plus category, at 64,000 units for an increase of 1.5 percent.

House prices, while still predicted to rise, will most likely be doing so at a lower rate. In February, the average MLS price was expected to increase 4.7 percent in 2010 ($357,300 per unit) but the new figures show the increase closer to 2.1 percent ($348,400 per unit). Predictions for 2011 decreased the dollar amounts as well. Rather than the 1.2 percent year to year increase in prices expected, the new forecast predicts a 0.7 percent rise (average price $361,700 down to $350,800).

Wednesday, May 19, 2010 - Calgary Growing Out Not Up – Debate Arises Over What is Better For The City

Calgary stopped building up and started building out. Not a problem you would think, after all Calgary is in the middle of a prairie, right? But there is a growing debate that having a city spread out over so much acreage is costing too much of the city’s tax dollars to provide city services.

Druh Farrell, a Calgary alderman is of the opinion that Calgary should consider more high density housing in the city core rather than keep building on the city’s fringes, which at the current rate of expansion don’t remain fringes for long. New communities need schools, libraries, health services, police and fire services as well as snow removal in the long winter months.

On the other side of the debate is Ralph Young, head of Melcor Developments Ltd, one of the companies directly involved in building out. He contends that the properties on the rural edges are not as expensive to service as stated. Houses are built to higher standards, so fires are less likely. Suburbs usually require less police protection because they are considered safer. And transit, well it is expensive to build but people moving into these rural areas are expecting to get these types of perks last.

Many people move to the outlying areas by choice. They love the open lifestyle, the quieter pace. Homes tend to be more expensive but you get more land and square footage to call your own. Yes, you do have to commute, at least to the nearest LRT station, but it is at trade off many are willing to make. Up or out, Calgary continues to grow. When that happens you are apt to have growing pains, no matter which way you sprout.

Saturday, May 1, 2010 - Morrison Homes Achieves High Honors at Building Industry?s SAM Awards

For the ninth year in a row, Morrison Homes has won the title of the best single-family house builder in the Calgary area. The company was presented with the Builder of the Year award at the SAM Awards? 23rd yearly event on April 16. The event, held at the Telus Convention Centre, was sponsored by the Calgary region of the Canadian Home Builders? Association.

Donna Moore, SAM?s executive officer, said that Morrison has enjoyed a true winning streak, acquiring three additional awards at the gala. Of 530 entries submitted by 87 companies, 61 awards were delivered. Don Dessario, president of CHBA?s Calgary region, said that in spite of the many economic challenges seen in 2009, the quantity and quality of entries was outstanding. He said that the winners as well as finalists set great examples of the dedication of the CHBA membership.

Ashton Homes won the most awards. Among the five it won, Ashton received the Builder of Merit award, which is presented to the best lower-volume builder.

Other companies garnering honours were Rockford Developments, Inc., which was presented with the Multi-Family Builder of the Year award. Rockford also won this distinction in 2004 and 2003. The company achieved four awards in total at this year?s event.

Newcastle Homes and Renovations took the title of Renovator of the Year, and also won three more awards. Timber Tech Floor Systems was named Partner of the Year. Hopewell Residential Communities was the beneficiary of four awards, two of which were Best New Community and Show Home Parade of the Year.

The Community of the Year award went to Auburn Bay, constructed by Carma Developers.

Tuesday, April 20, 2010 - More Homes Being Listed Helps Keep Prices Affordable For House Hunters

Calgary’s Multiple Listing Service has a whole lot more homes to choose from this spring. In March, new listings rose by 43.3 percent over the same time period in 2009, coming in at 5,433 units. Most of Canada is experiencing this same sort of new listing influx as people who were sitting on their properties during the economic crisis are now feeling confident enough to enter the seller’s market.

Sales in the first quarter of 2010 have been hot, so this influx of new listings is welcome. It not only gives buyers more choice, but will keep prices from escalating and bidding wars from getting out of control. It makes for more level playing field for buyer and seller. At present though, sellers do have a slight edge.

Prices for 2010 are well over what they were during the same period in 2009. In Calgary, April sales for the first half of the month totalled 580 units in the single family home category at an average price of $457,114 per unit. In March single family homes went for an average of $471,269. Compare this to 2009 when the average price of a home in January was $413,049.

Province wide, new listings in Alberta increased by 30.8 percent from the same time period in 2009. Currently there are roughly 12,379 units on the MLS service. Nationally, listings rose 25.3 percent, translating to 97,663 available listings.

Time will tell what the new mortgage rules (in effect April 19), the higher interest rates and the implementation of the Harmonized Sales Tax (HST) in the Ontario and British Columbia markets will do to the buying/selling trends.

Friday, April 9, 2010 - Spring comes early to Calgary real estate market

Calgary resident, Mark Obodzinski, was delighted to sell his home at the beginning of March for $2.2 million, less than four months after putting it on the market at $2.25. Obodzinski is one of many to benefit from the recent upswing in the real estate market. Some analysts believe the traditional spring selling period has arrived early due to impending interest rate increases, as well as an improvement in the Canadian economy and better employment opportunities.

March was an exceptionally good month for the Calgary real estate market. Recently released data by the Calgary Real Estate Board showed sales of single-family homes increased by 29 percent over the same period last year, and sales of condominiums increased by a massive 37 percent. In addition, sale prices for both types of dwelling showed an overall increase, reaching averages not seen since June 2008.

Sales of residential homes in areas outside of Calgary showed an increase of almost 10 percent over March last year, and sales of homes on acreages showed a 28 percent increase over March 2009. In line with the usual trends for spring, house prices rose slightly as demand increased.

Despite these encouraging figures, senior economist with ATB Financial, Todd Hirsch, doesn’t anticipate a boom in the Calgary’s real estate market this year. He cites the slow growth of Alberta’s economy compared to the rest of Canada as the major reason, coupled with increasing interest rates. However, he believes Alberta’s economy will slowly regain ground during the year and immigration into the province will strengthen the real estate market.

Saturday, March 20, 2010 - February Canadian Home Sales up 44 Percent Versus Last Year

February home sales in Canada increased 44 percent over the same time a year ago, per a report released March 15 by the National Association of Realtors. New listings grew by slightly more than 10 percent versus the same time last year, and the average selling price of $335,655 rose by 18.2 percent.

With this information in hand, the real estate market throughout Canada is achieving more balance. Average sales prices are rising in tandem with new listings, according to the Canadian Real Estate Association.

Gregory Klump, chief economist for the CREA, advised that there continue to be some cities that are “seller’s markets,” due to lower home inventories, but the supply of available homes has begun to grow. Klump anticipates that inventories will increase throughout the year.

Calgary residential real estate sales increased by 37.4 percent last month versus year-ago to 1,913 properties. The average price for a home in Calgary rose 5.2 percent to $389,388. New listings increased by 10.6 percent. Sales in terms of dollars rose by 44.6 percent to almost $745 million.

In Alberta, sales on the MLS saw a 26.3-percent hike to 4,077 units, with a 5.1 percent rise in the average sale price ($343,748). New listings grew 3.6 percent to a total of 8,891. An increase of almost 33 percent was recorded for the total dollar sales that exceeded $1.4 billion.

Sales across Canada have slowed a bit although there is an increase in the number of new listings. When adjusted for seasonality, home sales decreased slightly by 1.5 percent versus January.

Wednesday, March 10, 2010 - Calgary Real Estate Board Says There is No Housing Bubble

There is no housing bubble.  That is the opinion of the Calgary Real Estate Board.  In fact, their assessment is that the housing market was nicely balanced in February.  Sales and prices in both the condo and single family home markets and were much healthier than February of 2009.

February sales for single family properties numbered 1,035 units, an increase of 25.5 percent over February of 2009.  Last year’s average home price was $415,568.  This year that figure showed a ten percent increase to $458,254 per unit.  Condo sales did remarkably well, showing a 56.3 percent over last year, 536 units sold as compared to the prior year’s 343 sales. Average prices increased as well with the $268,971 from 2009 being bested by this year’s $282,880 figure.

Senior market analyst for Canada Mortgage and Housing Corporation, Richard Cho urges caution when comparing one year to another because the economic climates were at such opposite ends. Things have bounced back so well because of the economic recovery and the still available low mortgage rates.

All that aside, the housing market in Calgary is heating up, with some homes receiving competing offers. In neighbouring towns, sales showed increases of 55.8 percent on average and acreages showed an 84.38 percent in sales.  Last year only 32 acreage properties changed hands.  In February of this year alone, 59 properties were sold.
Inventory and demand are expected to increase this spring and to balance each other out nicely.  This is good for those looking to buy before the anticipated interest increase during the summer.

Tuesday, March 2, 2010 - Whistler Averts Auction Block, Anticipates Post-Olympics Gains

The Olympic party in Whistler has ended, but there may or may not be a hangover of the good kind.  On March 1, the Whistler-Blackcomb resort, one of the prized venues of the Vancouver games, was rescued from being auctioned.  Intrawest, its owner, landed an agreement with its creditors to a debt restructure.  

Intrawest’s corporate parent, Fortress Investment Group LLC of New York, fended off foreclosure proceedings on Intrawest during the course of the Olympics.  The resort is the largest employer in the Whistler community, with some 3,600 people working during the ski season.  

Despite the status of the companies that own the resort, the resorts and skiing hills continue to be profitable, according to Ken Melamed, Whistler’s mayor.  Melamed said that he does not worry about the resort closing, as it continues to exhibit vitality as a business. 

Anticipating a modest surplus on its Olympics budget of $9 million, the town of Whistler is exiting the Olympics in solid shape, as compared to Vancouver.  Whistler also now possesses legacy real estate.  The athletic village will be converted largely into low or moderate-income housing, and the plaza will be a family-friendly park.

Olympics organizers have been attempting to erase the elements of tragedy at the
Sliding Center, at which a luge competitor from Georgia died in a February 12 accident on the Games’ first day.  The course was ultimately given a vote of confidence as a future athletic venue by two international organizations.

Although post-Olympics prospects appear solid, Melamed commented that he hopes that the resort will achieve economic stability soon.  When Fortress incurred $2.8 million in debt to purchase Intrawest, it did so at the height of the real estate market in 2006.

Monday, February 15, 2010 - New Development, Currie Banks, Gets Old Name and Shows Respect

Currie Banks is the latest brainchild of Mark McCullough of the Canada Lands Co. He is the man behind the creation of Garrison Woods and Garrison Green, all successfully developed neighbourhoods built on land once occupied by the Canadian military.  Armed forces personnel, along with their families and assorted military equipment have long since been moved to Edmonton.  They left behind generous parcels of land dotted with empty houses and military installations, some of which have been gathering dust for over a decade.

This newest development, Currie Banks, would be located just north of the Mount Royal Gate.  The plans, unveiled by McCullough and his director of planning and urban design, Linda Hackman, showcased new floor plans and generated just as much excitement as Garrison Woods, the original development.

Years ago it wasn’t all that easy to gain acceptance of such sweeping change, turning a thriving military installation, which was a big source of local revenue and jobs, into a private housing development.  Many thought it was just Ottawa flexing its muscles, something never taken lightly in Calgary.  The two locales have a history of not seeing eye to eye on a number of issues.

But now McCullough has a proven track record. The fact that he includes memorials dedicated to members of the armed forces in his development layouts is a plus. Street names in the prior two developments, such as Passchendaele Road in Garrison Woods, also give a nod to the military services.  He is indeed bringing new development to Calgary, along with the employment that naturally follows, yet shows respect for the prior tenants of the land he is using.  Currie Barracks is, after all, named for the army camp that was a part of this area for a very long time.

Friday, February 5, 2010 - Calgary Home Sales for January 2010 Much Improved Over January 2009

Home prices and sales in the Calgary real estate market continued to rise in January, even with the slightly lower start to the year. The city is expecting the still low mortgage rates and affordable home prices to keep sales at a healthy pace at least through the first part of the year.  Calgary is still attracting job seekers, creating more sales opportunities. Compared to last year’s dismal predictions, this is indeed a pleasant forecast.

Once the economic recovery is on firmer footing, the Bank of Canada is expected to increase the record low interest rates.  This might further generate sales during the first part of the year as buyers try to get in under the mortgage rate wire. Depending on how high the hike is, sales in the second half of the year could be affected.

The Calgary Real Estate Board predicts a 6 percent increase in single family home prices, averaging $470,000 per unit.  Condos are expected to increase by just over 4 percent to an average of $296,000.  Single family home prices are up 7 percent from last January and condo prices have increased by 4 percent for the same time period.  Both housing products were down slightly, roughly 2 percent from the December 2009 average prices.

Single family home sales increased by 39 percent from January 2009 and condo sales jumped an impressive 67 percent over last year. Listings are steadily increasing, giving those buyers looking for property more choice and keeping price points on those listings steady.

Monday, January 18, 2010 - Calgary’s Commercial Real Estate Market Still Struggling as Vacancy Levels Climb

Calgary’s residential real estate market may be in a healthy state, but the business lease division is still struggling.  At the end of 2009 the vacancy rate of offices in Calgary was 15.7 per cent.  In September that figure was 13.1 percent. The report, compiled by CB Richard Ellis and Avison Young (both commercial real estate firms) listed Calgary as having the highest vacancy rate of the 10 cities surveyed.  This means that it is still a renters market, with substantial rent cuts and incentives expected to continue through 2010.

The downturn in the economy is the major factor in the downfall but the fact that new inventory continues to be added to the lease market doesn’t help. Sublet properties are not helping either.  Predictions are that vacancy rates could hit between 16 and 18 percent by the end of 2010.

No less than 19 buildings offering roughly seven million more square feet of rental space are under construction. Though rental rates have decreased by 50 percent since the high water mark in 2007, per square rental rates in Calgary are the highest in the 10 cities surveyed.  Prime class A rental space will cost you $24.85 per square foot.

Industrial rental rates, highly influenced by the economic downturn in the energy industry have taken a hit as well, though not quite as substantial.  At the end of 2009’s third quarter, the vacancy rate was at 5.2 percent compared to 3.8 percent at 2008’s year end. The prediction is for the vacancy rate to top 7.5 percent by the end off 2010’s fourth quarter.

Monday, January 11, 2010 - Home Prices Continue to Rise Across Canada

According to a report released Wednesday, the country's real estate market has continued its recovery as resale home prices rose for the sixth consecutive month in October.  Calgary saw the largest rise, with prices rising nearly a whole percent from the previous month's figures.

The resale house price index of Teranet-National Bank for all major markets rose 1.27% during October.  Year-over-year figures were up over a half percent, first rise in nearly ten months.

Home prices have risen one percent or greater each of the past five months.  Toronto and Vancouver saw modest monthly gains, with each city's home prices up one and a half percent.

Although prices continue to push higher, the average price of a home in Vancouver is still more than 4% lower than its peak in June 2008.  Prices in Calgary are still down nearly 11% since the peak in 2007.

Economics strategist, Millan Mulraine, says that rise is not entirely surprising, and it represents a sharp uptick in housing sales activity.

Monday, December 14, 2009 - Local Canadians Chosen to Carry Olympic Torch

Remi Christianson recently participated in the epic cross-country Olympic torch relay in Canada, and her three children were the in Bedeque, P.E.I. to see their mom carry the torch.  She is one of twelve thousand Canadians that was selected to carry the symbolic flame.

The Olympic Flame reached the the soil of Prince Edward Island on November 21, and the procession relay made its way through the province.  Even Chinese speed skater Yang Yang and Olympian Heather Moyse carried the torch through Canada.

Christianson proclaimed that it was an honour to carry the torch.  People were cheering her on like she was an Olympian.  She only ran for three minutes with the torch, but she says its three minutes of her life that she will never forget.  It was a great experience all around, and even more of a special event because her children were able to witness her carry the Olympic Flame.

The participants in the relay were chosen by Coca-Cola, The Royal Bank of Canada, VANOC, and the Olympic organizing committee.

Wednesday, December 9, 2009 - Suncor’s New Project Creates Almost 400 New Jobs

Calgary-based Flint Energy recently announced that Suncor’s Firebag 3 project will create over 380 new jobs for workers at its Service’s Sherwood Park modular fabrication facility.  Suncor and Flint released a new release stating that work on the project is underway and should be completed by the middle of 2010.

It is great news for the region because the new jobs will bring needed revenue to the area, not to mention, the project should also present future opportunities for Flint workers, who have become a prime choice for Suncor’s projects.

Suncor just announced that it plans to spend over $900 million to resume construction on the Firebag project.  When the site in complete, it is expected to generate over 68,000 barrels of crude oil daily by mid-2011.

The new commitment from Suncor is a solid sign that there is corporate interest in developing Canada’s oil sands, and UTS Energy recently announced that it has sold half of its stake in three oil sands leases to ExxonMobil and Imperial Oil for almost $250 million. 

UTS explains that the sale is part of its strategy for generating revenue organically through reserves and by finding new sources of oil sands.  They also believes the sale of its leases demonstrates the strength in the market value of its other projects such as the Equinox and Frontier projects.

Thursday, November 26, 2009 - Bill 50 Controversy

Bill 50 is at the center of a political debate over whether the $5.6 billion electricity transmission project is as critical as the Stelmach government claims.  They are trying to fast track the plan without hold the standard public hearings.  Bill 50 actually calls for the elimination of the legal requirement for holing public hearings about such planned projects.

Energy Minister Mel Knight claims that the government has already addressed the public concerns about the project, and they have decided that the project must be completed.  He explains that the government’s plan allows the projects to be built in stages to only create enough supply to meet demand.

The bill has met harsh opposition from the Liberals, NDP and Wildrose Alliance, who have all joined in protesting the bill, and they claim the necessity for the planned projects are grossly exaggerated.  They are calling for an independent assessment of the seriousness of the problem and what levels of construction need to be taken.  The Stelmach government’s decision is biased because they stand to profit extremely from the project.

Landowners feel like their rights are being violated.  Albertans as a whole feel like the project is not in the public’s best interest.  An energy consulting firm recently reviewed the AESO’s plan, and they do not believe the AESO has taken sufficient steps to prove that the project is needed.

There are over $6.5 billion in new projects proposed in Bill 50, and the cost of the bill would raise every citizen’s utility bill by $100 each year.  Opposition parties also argue that the money is needed to be used elsewhere, for more important projects.

Wednesday, November 18, 2009 - 5 tips for smartly acquiring real estate

Harsimran Singh wrote a book called A to Z of Foreclosures. He provides tips that can help real estate brokers and agents and individuals who are selling or buying their homes. These tips include investment strategies which can help make you money if followed properly. They include the following:

1. Remove speculation and stay with the facts. If your profit margin is not at least twenty percent on the day you purchase your home then you should reconsider making that purchase. It is not impossible to find this type of opportunity and it is well worth the effort of looking.

2. Make sure to understand Section 8 rules, regulations and requirements and that the property you will be purchasing will qualify for Section 8 rental subsidies. The regulations of Section 8 relay the number of bedrooms along with the size of the rooms for the level of rent. Not all homes actually qualify for Section 8 so you should contact your local public housing authority to determine whether the home you want to purchase qualifies for Section 8 or not. If not then you may want to reconsider your options.

3. Obtain advice from several real estate brokers and research the best available options. Each real estate broker has different homes listed for sales. They all include varying information on their listings and have differing opinions on the local areas and markets. Take your time and spend a minimum of one day with each real estate broker to understand their prospective of the local housing market. They will also give you better insight into the schools, taxes, shopping centers and real estate prices in the area. Real estate agents and brokers are a great resource to use when determining which area is suitable for your needs.

4. If you do not have the money to purchase an investment home then locate a partner or investor. If you can find a partner who can put a down payment on a home, then you resale that property at a higher price than originally purchased you can pay back the partner and make money on the property. If you can find the homes to purchase at very low costs you can also find partners willing to put up the money for you to make money on their investment once it is sold. You both win and will make a profit.

5. The best opportunities are most often found in low income neighborhoods. You can make money in these situations because in most cases the rent is paid by the government and not by the tenant. The landlord does not have to pursue the tenant for the rent due but instead it will be provided by government subsidies.

Friday, November 6, 2009 - How to Work With Your Renovator

It is important that when you are sitting down with the person who will be renovating your home that you both are on the same page. The last thing that you want is to have a renovator that thinks you said to remove a wall when you said you wanted to add mud room to your home. This article will help you in knowing what to be prepared for when dealing with your renovator.

Start By Defining What Exactly You Want And Don’t Want - You will want to start by making a list of the things that you like about your home and the things that you don’t like about it. It’s important that everyone agrees with what is on the list. You may hate the way the kitchen looks but the rest of the family loves the design. These questions are ones that you need to keep in mind when deciding on what you are going to do. This will help your contractor greatly in knowing what it is that you are wanting to do to the house.

Be An Informed Homeowner - It is a fact of life that there will be intrusions into your daily life along with a mess. There is no way that this will be able to be avoided no matter how hard you try. You will need to open your home up to the contractor, work around their schedule. Many contractors schedules will not fit up exactly with your schedule. You may want to plan to have dinners out a few times each week to help get you out of the house away from the craziness that is going on. Remember the more you accommodate the contractor the quicker they will be out of your hair.

Be A Good Communicator - This is a must for you to be able to communicate effectively with the contractor. Make sure that you are in the loop and know what all is going on with your renovation. One great idea would be to have a calendar that will show the rest of the family what is going on in the house any particular day.

Plan To Spend More Than You Thought - If you have a planned budget for your renovation, it is a great idea that you add about 20% to this total in order to accommodate things that come up all of sudden. This is just a simple fact that you will have to deal with as you go through the renovation.

Check Your Contractor’s References When Hiring Someone You Don’t Know - If you are using a friend of a friend or just using a contractor that you are not familiar with then you will want to make sure that you get references and make sure that you check the contractor out throughly before any work is started or money is exchanged.

These are just five tips that will make the renovating of your home a little bit easier. If you follow these tips then you have no problem with your renovations.

Monday, November 2, 2009 - Alberta Realtors Want Drug House Guidelines

Alberta realtors are making it known to the local government that something has to be done about marijuana growth operations and meth laboratories. They are proposing that new guidelines be adopted for cleaning up the houses that are used for these purposes.

A report was released by the Alberta Real Estate Association from Karen Rollins, a consultant who specializes in indoor air quality; and Tang Lee, a University of Calgary professor of architecture studies. The body of people instructed the pair to come up with a set of standards to govern these types of operations.

The Director of Industry and Government Relations for the Alberta Real Estate Association, Bill Fowler, announced that there are no principles or standards in place at present for air quality when there are houses being used for drug operations returning to the marketplace for credible homebuyers to acquire. Mr. Fowler reportedly has said that whenever there are drugged operation bust conducted, the utility issues such as plumbing, electrical, heating and overall building structures can be easily corrected because the code requirements established. He went onto say that the bigger issue is the presence of mould, air remediation and quality.

Whenever the growth of pot plants or cooking of meth is conducted by drug criminals they usually leave behind a potentially harmful disarray of moulds that are toxic in nature, chemicals and illegal changes to various systems such as the wiring, venting and plumbing systems plus the structural integrity is compromised. Karen Rollins went on record to say that the mould issue is basically because the raised temperatures and creation of more humidity from growth operations and the conditions for growth are intensified.

Since the forming of the special task force Green Team, made up of Edmonton Police Service and RCMP there have been over 500 growth operations dismantled throughout the city of Alberta, based on a study conducted by the Edmonton Police Service. According to Fowler, there are an estimated 100 operations of drug activity put out of action annually.

Monday, October 19, 2009 - Calgary Prevails Over Alberta in Home Sales for September

Calgary powered ahead of all other cities in Alberta in home sales during September. Up 12.4 percent since last year, some 2,255 residences were sold in Calgary, with an average price of $394,835. The average sale price climbed 1.1 percent over 2008. With current new listings of 3,478 homes declining 26.1 percent versus last year, the result could be a drive toward price increases.

September sales for Edmonton registered a modest decline of 1.4 percent, with 1,704 residences having sold. A price increase of 0.7 percent to $327,235 was recorded.

The month of September was particularly robust for residential realty. Sales transactions in Vancouver soared 124 percent versus a year ago, and sales in Victoria for the same period escalated 50 percent. A 20 percent increase in sales was seen nationally versus September 2008, and prices rose by 18 percent.

Dale Ripplinger, president of the Canadian Real Estate Association, noted that low interest rates, as well as improving economic conditions, are supporting the home-buying surge.

Tuesday, October 13, 2009 - Calgary’s Healthy Home Market

In a surprising turn of events, the housing market in Alberta seems to be flourishing during the current recession. Even though Alberta has had the highest numbers of job losses in Canada, those losses have affected less than 10% of the total population. The majority of the province has seen the reduced home prices and low interest rates as an opportunity for home ownership.

The Calgary Real Estate board released some impressive figures a week ago. The increase in single family home sales came in at 9.1% and condo sales were up an amazing 24.7%. Calgary’s residential MLS sales have increased over those of last year for five consecutive months.

Economists were for the most part surprised at the sudden turn around in the housing market. The weakened economy was not considered a healthy climate for house hunting or buying.

The resale home market in Calgary is now considered to be balanced according to the Calgary Real Estate Board. The percentage of houses available verses potential buyers has evened out. Inventory is there to satisfy those looking for homes, but there is no longer a glut on the market. Calgary is continuing to adjust to the current economic environment, with surprising results.

Tuesday, September 29, 2009 - Fort McMurray Leading The Way

In Fort McMurray, Alberta, a four bedroom two and a half bath home carries an average price tag of $638,000. This beats both Calgary at $525,525 and Edmonton’s average price of $432,250. These figures are taken from the 2009 Coldwell Banker Home Price Comparison Index that evaluates home prices in real estate markets in North America.

The homes in question average 2,200 square feet and are single family homes found in 345 individual markets across Canada and the United States. The study also revealed that compared to other world housing markets, housing in Canada is a relative bargain.

The four-bedroom, two and a half bath homes in the study are usually purchased by buyers that are financially able to move up to a larger property. One particular buyer would be a middle management corporate employee that is relocating. Canada’s low interest rate is helping these and other buyers upgrade their homes.

Of the other cities in the study, Vancouver’s average price for the same four bedroom home was $1.26 million, making it the 10th highest priced city in North America. The number one spot went to La Jolla, California with an average price of $2.13 million. Toronto priced out at $824,347 for the home.

Friday, September 18, 2009 - Ponzi scheme one of Canada’s biggest

The RMCP have initiated fraud charges in what is alleged to be one of the largest Ponzi schemes in Canadian history. Tax examiners are poring over evidence seized from across Western Canada during an intense search by auditors and investigators from the Canada Revenue Agency.

After a two-year investigation, authorities charged Milowe Allen Brost, of Chestermere, and Calgary resident Gary Allen Sorenson with fraud. The men are alleged to have defrauded as many as 3,000 investors of hundreds of millions of dollars over the past nine years. The scheme allegedly involved recruiting investors through seminars where they were promised returns as high as 40%, as well as continued access to their funds.

According to court documents, investors were also informed that they would be eligible for an RRSP tax shelter. Some of the alleged victims complain that they have received large tax bills, in addition to being unable to recover their funds. The CRA has reportedly reassessed 295 investors in withdrawals of at least $29 million causing them "significant" tax consequences.

Both Brost and Sorenson have a history of legal troubles. The Alberta Securities Commission ordered Brost to pay $650,000 for fraud in 2007. Brost is reportedly also facing fraud charges in Ontario.

Monday, August 24, 2009 - CHBA and Real Estate Development Institute team up for University of Calgary Certificate Program

The recently announced pairing represents the successful culmination of the Institute’s ongoing search for the ideal industry partner to assist with the University’s growing Continuing Education program, which was launched in 2004 to encourage continued progress and skills creation throughout Calgary’s development sector workforce.

Students of the Certificate Program in Real Estate Development come away with a thorough understanding of real estate topics ranging from finance to multi-family, industrial, recreational, and commercial development issues. Program instructors with real-world experience and specialized training offer students valuable insights into the dynamic Calgary real estate industry.

According to Jason Hardy, executive director of the Real Estate Development Institute, the partnership with the Canadian Home Builders’ Association is a natural fit. Citing the resilient real estate market throughout Alberta and the need for developers to keep up with growing demand, Hardy called this a prime opportunity for Canadian Home Builders’ Association members to enhance the skills of their regional workforce.

Property In Calgary