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        <title>Edmonton Real Estate Blog</title>
        <link>http://www.bestedmontonrealestate.com/blog/</link>
        <description>We provide insight into market conditions in our Edmonton Real Estate Blog.  Keeping you up to date on the Edmonton real estate market is our top priority</description>
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            <guid>http://www.bestedmontonrealestate.com/blog/bmo-report-surveys-canadians-on-bidding-war-tendencies.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/bmo-report-surveys-canadians-on-bidding-war-tendencies.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>BMO Report Surveys Canadians on Bidding War Tendencies</title>
            <description> <![CDATA[ A BMO, Bank of Montreal, report released this past Thursday noted that roughly 25 percent of Canadians were fine with entering a bidding war to purchase property. Not only that, they were willing to pay up to 20 percent above the asking price. Dubbed the BMO Buying Report, it noted that those living in Atlantic Canada and Quebec were less likely to do so than those living in Alberta, Ontario and the Prairies. Altogether, 22 percent of those surveyed were willing to enter a bidding war. Half of those would pay up to ten percent above asking price. Those living in Saskatchewan and Manitoba were most likely to enter a bidding war, at 32 percent. Ontario came in at 28 percent, Alberta at 25 percent, British Columbia with 23 percent, Atlantic Canada at 13 percent and Quebec coming in least likely at ten percent. On paying over asking price, 52 percent of those surveyed were willing to go up to ten percent above that price. Quebec was number one on that list, at 62 percent. Alberta and British Columbia tied at 53 percent, then Ontario at 51 percent, Manitoba and Saskatchewan both at 22 percent and Alberta at 17 percent. Nearly 27 percent of Canadians were willing to top the asking price by up to 20 percent. Atlantic Canada had the highest percentage of these folks, at 33 percent. Ontario and British Columbia were at 30 percent, Quebec at 25 percent, Manitoba and Saskatchewan at 22 percent and Alberta at 17 percent.  ]]> </description>
            <pubDate>Thu, 26 Apr 2012 13:56:00 -0600</pubDate>
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            <guid>http://www.bestedmontonrealestate.com/blog/wildrose-party-danielle-smith-charms-edmonton-opponents-question-motive.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/wildrose-party-danielle-smith-charms-edmonton-opponents-question-motive.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>Wildrose Party Danielle Smith Charms Edmonton, Opponents Question Motive</title>
            <description> <![CDATA[ Edmonton residents are wondering if Danielle Smith, Wildrose Leader is just charming people because of the upcoming election, or if she truly likes the city. Smith does have some policy proposals that are problematic for some of Alberta’s cities, including Edmonton and Calgary. One of note is cutting the Green Trip funding for the LRT and C-Train construction; another is reopening the still volatile debate on the development of the Edmonton City Centre Airport property. And yes, there is the delay in construction for the Royal Alberta Museum.Yet the charming and seemingly personable politician declares a strong love for Edmonton, citing relatives that live in town and a fondness for the Fringe Festival and other Edmonton celebrations. She also made note of the fact that the LRT will get the proper funding under the Wildrose party. Smith outlined a plan to give both Edmonton and Calgary ten percent or the provincial taxes collected and an additional ten percent of any surplus, giving each city more cash. As far as the Edmonton City Airport, Smith wants to make sure the Medevac issue was taken care of. The airport was a base for the health transport service. Most people in Edmonton thought this was a closed issue, especially after a civic election in 2010. Smith contends that at least half of the current candidates want to reopen the airport use issue, even though plans are underway. As far as the museum, Smith noted the delay would only be for a few years, but funding needed to be worked out with the federal government to proceed. Not a good stance to take right before an election.  ]]> </description>
            <pubDate>Tue, 17 Apr 2012 13:16:00 -0600</pubDate>
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            <guid>http://www.bestedmontonrealestate.com/blog/mortgage-rates-are-pleasantly-low-for-the-moment.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/mortgage-rates-are-pleasantly-low-for-the-moment.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>Mortgage Rates are Pleasantly Low, For the Moment</title>
            <description> <![CDATA[ Rock bottom interest rates have become the norm in Canada for the last few years. The same is true for interest rates on lines of credit. If you recently went to your bank or mortgage broker for service, you most likely are carrying a rate below four percent for five years, depending on when that term started. If you are in Calgary and are looking for a mortgage at present you can get a four or five year fixed rate for 2.99 percent. That rate is only available, at this time, until March 28th.The Bank of Canada so far hasn’t decided to up interest rates but that doesn’t stop them from issuing warnings about going too deep into debt because they, at one point, will. They also warn to make sure you can handle your mortgage at a higher rate, just in case. Other measures have been taken within the last couple of years to tighten the mortgage market. The maximum amortization period was reduced from 35 to 30 years and the days of the zero down payments, except for cash back mortgages, are a thing of the past. The government is considering taking the amortization down to 25 years but there is nothing definite yet. Another restriction that may be implemented is limiting the amount of loans CMHC can insure to reduce the burden on taxpayers, who ultimately pay for the homes that are foreclosed on and eventually sold. As far as the overheated housing market, that refers more to places like Toronto with its condo boom and Vancouver, seeing an average home price of $800,000, rather than Calgary. So far the economy in Calgary is going fine, leading to a balanced home market and smaller price gains.  ]]> </description>
            <pubDate>Thu, 12 Apr 2012 15:44:00 -0600</pubDate>
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            <guid>http://www.bestedmontonrealestate.com/blog/work-on-epcor-tower-underway-first-tenant-signed.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/work-on-epcor-tower-underway-first-tenant-signed.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>Work on Epcor Tower Underway, First Tenant Signed</title>
            <description> <![CDATA[ 
The renovation of the old Epcor Tower at 101st &amp; Jasper is well underway and its first tenant is eager to move in. The Association of Professional Engineers and Geoscientists of Alberta, or APEGA for short, will be taking almost three of the tower’s floors to house 75 of its employees, but not until the summer of 2013. That is when the group’s current lease expires. Currently they are at Scotia Place, and have been at that location since 1986. Those offices are in need of renovation, so the decision was made to move, noted Al Schuld, an interim CEO and registrar with the firm. That move will mean getting an environmentally friendly building, hopefully with a LEED Gold certification (Leadership in Energy and Environmental Design).


Epcor Tower will receive new elevator lobbies, elevator cabs, common areas, washrooms and more parking spaces in its underground garage. The expansion includes neighboring lots that once belonged to Bank of Montreal, a lounge and the Odeon Theatre. All of those buildings are coming down. In their place will be a two storey podium style structure, which already has its first signed tenant. Williams Engineering, currently in Telus Plaza, will take up 33,000 square feet of the second floor. The ground floor will be devoted to retailers, offering 55,000 square feet of boutique friendly space.   
 ]]> </description>
            <pubDate>Fri, 06 Apr 2012 14:37:00 -0600</pubDate>
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            <guid>http://www.bestedmontonrealestate.com/blog/mortgage-rates-upped-by-rbc-and-td.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/mortgage-rates-upped-by-rbc-and-td.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>Mortgage Rates Upped by RBC and TD</title>
            <description> <![CDATA[ This past Monday the Royal Bank of Canada raised its mortgage rates. Toronto-Dominion Bank was hot on its heels. RBC is trying to bolster profit margins and with that raise effectively signaled the ending of the mortgage wars. A spokesman noted that the change to posted rates reflected cost increases. RBC and TD upped their four year fixed mortgage rate to 3.49 percent, with the effective date being March 29th. Bank of Montreal’s 2.99 percent was giving both firms stiff competition. Rival banks noted that the mortgages sold were hardly profitable. RBC and TD also upped the five year fixed rate by one-fifth of a point, bringing that rate to 5.44 percent. Five year variable rates were upped by one-tenth of a point; bring them to prime plus 0.2 percent. Now it’s a waiting game to see if other banks follow suit, or decide to hang on to the lower rates in order to bring in more business. Time will tell which institutions made the more profitable move. ]]> </description>
            <pubDate>Thu, 29 Mar 2012 13:47:00 -0600</pubDate>
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            <guid>http://www.bestedmontonrealestate.com/blog/new-solar-home-in-edmonton-helps-environment-but-on-the-pricey-side.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/new-solar-home-in-edmonton-helps-environment-but-on-the-pricey-side.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>New Solar Home in Edmonton Helps Environment, But On The Pricey Side</title>
            <description> <![CDATA[ 
Solar power is becoming a more accepted form of power generation, but back in the 1970s it was a novelty. Tanya Kushneryk, who grew up in that era, remembers her inventive father creating a system that heated the swimming pool using the power of the sun. He was, at the time, considered a bit of an eccentric. Fast forward to 2012, when Tanya and her family, including the enterprising father, helped Enmax Energy Corporation of Calgary launch its state of the art rooftop solar panel program. The Kushneryk’s system provides some of the power needed for their home. There are two photovoltaic systems, each one producing between 100 to 140 kilowatt hours each month. That is not all that much since that home consumes roughly 2,700 kilowatt hours each month because of a salt water fish tank. Most homes consume about half that amount.


But solar energy can be expensive to implement. They have a contract with Enmax, with an initial outlay of $3000 and a monthly fee of $79.98 for the two units. When the three year lease expires, they can pay $750 to purchase the units outright, or $950 to have them removed. That works out to about eight cents per kilowatt hour. Smaller and larger systems are available.Enmax has already installed 180 systems across Alberta. The least expensive contract is one for zero down and a $50.99 payment for 15 years. If you system creates more power than needed it may be sold back to the Alberta power grid. The firm is aiming to install 9,000 solar and wind systems, both in cities and rural areas during their five-year Generate Choice program that started in 2010. The Kushneryks’s system is one of the first in the Edmonton area and the company is hoping that it generates more interest.



Solar power is becoming a more accepted form of power generation, but back in the 1970s it was a novelty. Tanya Kushneryk, who grew up in that era, remembers her inventive father creating a system that heated the swimming pool using the power of the sun. He was, at the time, considered a bit of an eccentric. 


 


Fast forward to 2012, when Tanya and her family, including the enterprising father, helped Enmax Energy Corporation of Calgary launch its state of the art rooftop solar panel program. The Kushneryk’s system provides some of the power needed for their home. There are two photovoltaic systems, each one producing between 100 to 140 kilowatt hours each month. That is not all that much since that home consumes roughly 2,700 kilowatt hours each month because of a salt water fish tank. Most homes consume about half that amount. 
 ]]> </description>
            <pubDate>Thu, 22 Mar 2012 15:31:00 -0600</pubDate>
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            <guid>http://www.bestedmontonrealestate.com/blog/2012-home-fashions-are-all-about-colour.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/2012-home-fashions-are-all-about-colour.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>2012 Home Fashions Are All About Colour</title>
            <description> <![CDATA[ 
In 2012 colour is in. No matter if you are outfitting your summer patio or redoing your living room, expect home decorating firms and retailers to be awash in bold reds, blues, greens and yellows. Retailers and home décor firms met at the Edmonton Expo Center for the Alberta Gift Show to catch a glimpse of the newest trends. Not open to the public, this venue gives them a heads up on the season. Indaba Trading’s owner Irene Gillespie travelled from British Columbia and noted that retailers are showing an interest not only in colour, but in various textures. This makes both indoor and outdoor décor much more exciting, and does wonders to chase away the doldrums of winter.


Inside, accent chairs in bold teals and bright purple add fashion sense without costing an arm or a leg. Times are still tough economically and it may not be practical to go out and buy that new sofa, but it is affordable to replace the accessories that complement it. Using varying types of tableware and adding splashes of colour can give your dining area a whole new look without replacing the dining table. Kitchy art is making a comeback, whether it is whimsical statues of bulldogs or pussycats, or pillows with playful, imaginatively styled creatures. The Victorian inspired “steampunk” look is also in. This combines the frills and high end fabrics of that elegant era with polished brash and interesting mechanical objects that are sure conversation starters. 
 ]]> </description>
            <pubDate>Sat, 10 Mar 2012 17:01:00 -0700</pubDate>
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            <guid>http://www.bestedmontonrealestate.com/blog/market-stabilizing-in-the-housing-sector.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/market-stabilizing-in-the-housing-sector.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>Market Stabilizing In The Housing Sector</title>
            <description> <![CDATA[ January home sales started 2012 out with a bit of a whimper. The month saw the largest decrease in nearly 18 months. The industry isn’t surprised, but rather expected this result because the market is slowly moderating. Canadian Real Estate Association, or CREA for short, has figures showing that sales in January decreased by 4.5 percent from December of 2011. It is the first decline, per month, since August of 2011 and the largest percentage decrease since July of 2010. Home prices are starting to slow their upward motion as well. January 2012 showed a 1.2 percent increase in price over January one year ago. CREA president Gary Morse notes that the market, nationally, is balanced. But depending on where you live in Canada, your area’s forecast will vary. There is still debate about a possible bubble in Vancouver, which has been the hottest housing market for the last couple of years, with the highest prices. Those high prices actually altered the national average. Phil Soper from Royal LePage, also notes that Toronto’s lack of inventory also skewed with national sales numbers. Soper does not expect a crash, but does predict sales and prices will be soft throughout 2012.  ]]> </description>
            <pubDate>Thu, 16 Feb 2012 18:17:00 -0700</pubDate>
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            <guid>http://www.bestedmontonrealestate.com/blog/renovation-grants-for-green-home-improvements-discontinued.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/renovation-grants-for-green-home-improvements-discontinued.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>Renovation Grants for Green Home Improvements Discontinued</title>
            <description> <![CDATA[ 
The ecoEnergy Retrofit Homes program is finished. The government sponsored financial aid to homeowners that chose to renovate their homes to cut down on energy usage had a cap of 250,000 homes, and that was reached on January 29th. Any homeowner not registered by that date is out of luck, according to Joe Oliver, Natural Resources Minister. Those who have registered must have their renovations done by March 31 and finished grant applications in by June 30th. In March of 2011 the program was extended by the government adding another $400 million into the program. Homeowners doing eco-friendly renovations were allowed to apply for grants to cover such items as insulation and energy efficient appliances. The maximum grant was $5,000.


Budgetary concerns caused the ending of the grant program. Oliver noted that it was necessary to balance the federal budget. Some have complained that the $400 million allotted has not been spent. That is true. The federal government has decided to cap the amount to $192 million. Some find that rather shocking in this energy conscious climate.
 ]]> </description>
            <pubDate>Wed, 08 Feb 2012 13:46:00 -0700</pubDate>
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            <guid>http://www.bestedmontonrealestate.com/blog/edmonton-neighbourhoods-show-wide-range-of-home-value-increases.html</guid>
            <link>http://www.bestedmontonrealestate.com/blog/edmonton-neighbourhoods-show-wide-range-of-home-value-increases.html</link>
            <author>info@bestedmontonrealestate.com (Yoofi Gerard Hagan)</author>
            <title>Edmonton Neighbourhoods Show Wide Range of Home Value Increases</title>
            <description> <![CDATA[ Property assessments just mailed out in Edmonton show that people that invested in homes some five years ago didn’t do so badly in the profit department. If you bought your home in Whitemud Creek, you saw roughly a 21 percent increase in value. If you happened to set down roots in Rossdale or Beverly Heights, that profit margin increased to 55 percent. That’s even more than the 28 percent profit you would have seen investing in some of Alberta’s finest crude. Some 326,500 people got the annual notice from the city, with the amounts based on values as of July 1st 2010. The average difference in price between this assessment and that from last year for single family homes was down 1.7 percent. But that also varied by the district. As an example, Secord saw an average 10 percent increase in value, while Canora saw a roughly 10 percent drop. Look at the different neighbourhoods over five years and the disparity increases. In that period the average home value rose by 41 percent. In the northeast, eight of 12 districts saw increases of over 50 percent. Don Campbell, a real estate analyst, noted that housing in this area is less expensive and attractive to newcomers. The lower prices also have plenty of room to go up, particularly if they undergo extensive renovations. The newer neighbourhoods are already selling at market rates, so there is not as much wiggle room for those prices to rise.  ]]> </description>
            <pubDate>Tue, 31 Jan 2012 13:26:00 -0700</pubDate>
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