Welcome to our Edmonton MLS® Blog! We offer information on the Edmonton area home market in this section, including useful tips and reports on market conditions.
Edmonton MLS® Blog - Wednesday, August 18, 2010 - Victoria’s Secret Opens Its First Lingerie Boutique at West Edmonton Mall
The purveyor of sexy lingerie that has flavored many a male fantasy has finally found a home in Canada. West Edmonton Mall has the honors of hosting the first Victoria’s Secret outlet. On opening day, customers and perhaps curiosity seekers were lined up outside the mall’s entrance. Some got there as early as 5:30 am even though the store didn’t open until 10:30 am. By the time Victoria’s Secret’s doors opened, over 300 customers were waiting, almost all women under the age of 30.
The ribbon cutting ceremony was headlined by Candice Swanepoel, a South African model that is one of the Victoria’s Secret Angels. She signed autographs later that afternoon. Customers who splurged $100 or more at the sexy clothing store got VIP treatment and a shorter wait to meet the supermodel.
Even though the only way for Canadians to buy the titillating attire was through catalogues or hopping the border to the United States, there is quite the following. Ontario is home to six stores carrying the Pink store label, but to many Victoria’s Secret is still queen of the ultra feminine lingerie retailers.
The Edmonton store’s opening also coordinated with the launch of the new “Incredible Bra” at Victoria’s Secret. Now instead of doing a quick border run to see this newest creation in person, Edmonton shoppers just have to go to their local mall.
Edmonton MLS® Blog - Tuesday, August 3, 2010 - Edmonton Airport Improves in Efficiency, Now Ahead of Calgary in its Class
Edmonton International Airport is now ahead of Calgary in being Canada’s most efficient in terms of small airports. Per research from British Columbia’s Air Transport Research Society, Edmonton achieved a 144-percent increase in revenue not related to aeronautics between the years 2001 and 2008. This rise in income enabled the airport to jump ahead of airports in Calgary and in Ottawa.
Edmonton International now ranks fifth in airports in North America that serve fewer than 15 million passengers each year. In terms of large airports in North America, Vancouver achieved fifth place in terms of efficiency.
The report indicates that non-aeronautical income can improve airports’ efficiency, possibly resulting in lower airport fees and the attraction of new aviation-related business. The research assessed the price-competitive aspects of 142 different airports based in North America, the Asia-Pacific area and Europe. Data used in the report came from the fiscal year of 2007-2008.
Tae Oum, president of ATRS, said that airports are successfully growing their income by way of peripheral revenue-generating devices. These devices include parking lots, retail businesses, and even commercial real estate and golf courses. By offering a diverse array of income-producing operations, airports are better able to improve efficiency and survive recessionary periods.
Traci Bednard, a spokesperson for Edmonton Airports, said that non-aeronautical income helps stabilize the fees and rates that are passed along to passengers. She said that Edmonton has not increased airline fees in several years.
The number of food, beverage and retail businesses at the airport has doubled during the past few years. A 7-Eleven convenience store, golf course and gas station, all on airport-owned land, have helped to improve the airport’s efficiency.
Edmonton MLS® Blog - Monday, July 26, 2010 - Alberta United Way Launches Tools for Schools Backpack Campaign
The United Way has launched its sixteenth annual Tools for School program, which supports the collection of school supplies for needy students. Per a United Way press release, there is a great need for backpacks and other equipment. An estimated 8,300 children in the area would benefit from supplies.
Kristy Jacklin, who coordinates the Discovery program for the United Way’s Alberta Capital Region, said that the students who have the fewest amount of supplies are at the elementary school level. She remarked that United Way statistics show that one of every eight children in school live in a household with an annual income of $20,000 or less. Jacklin said that adults in continuing-education programs are also the beneficiaries of school supplies.
Leduc Food Bank Executive Director Gert Reyner said that families receiving school supplies are able to focus their energy in other important areas. The Food Bank assists in distributing the supply-filled backpacks.
Every year, principals the region’s public schools prepare estimates, outlining the amount of backpacks and supplies their respective schools will need. Karen Sand, an Elk Island Public Schools spokesperson, said that her division has requested 275 of the estimated 8,500 backpacks to be donated and filled.
People are invited to participate by donating supplies at a number of locations in Sherwood Park at which school supplies are sold. Suggested items include binders, backpacks, pencils, pens, erasers, non-toxic markers, geometry kits, lined loose-leaf paper, glue sticks, exercise books, as well as USB memory sticks. Volunteers, who are needed to pack the backpacks, may call Lindsay Herrick: 780-443-8380.
School families may request filled backpacks by calling the central office of the EIPS, at: 780-417-8225.
Edmonton MLS® Blog - Monday, July 5, 2010 - Edmonton, Calgary Among New Monopoly Cities
Edmonton can now boast ownership of property worth $3 million.
Hasbro Canada is releasing Monopoly: Canada, and announced Edmonton as one of the Canadian cities that was voted onto the board. Edmonton’s Monopoly property is next to the “Go to Jail” space, part of a trio of green properties which are the second-most valuable collection of properties in the game.
Cities were awarded property values based on the number of votes they received. Edmonton placed fifth overall in the votes with 3.1 per cent of more than a million votes cast, and boasts Calgary, Alberta and Sarnia, Ontario as its fellow green property neighbours.
Edmonton’s property spot in the original Monopoly game belongs to Pacific Avenue, a funky, university-influenced street in Santa Cruz, California.
Hasbro Canada spokeswoman, Marisa Pedatella, said the green properties are a great place to be. Edmonton Mayor Stephen Mandel agreed. Mandel said Edmonton’s spot on the green strip is natural, and due mainly to Edmonton’s environmental initiatives and green energy campaigns. He himself was a Monopoly player and said he’ll purchase the Canadian version.
Other cities that made it onto the Monopoly board include North Bay, Vancouver, Montreal, Banff, St. John’s and Kelowna.
Hasbro gave Boardwalk and Park Place to two wildcard cities that were not included in the original list of Canadian cities but added in by voters. On the Monopoly: Canada board, Park Place is now Saint-Jean-sur-Richelieu, Quebec, and Boardwalk is Chatham-Kent, Ontario.
Edmonton MLS® Blog - Friday, June 4, 2010 - Edmonton Real Estate May Have Peaked Already –Second Quarter Will Tell
Edmonton’s real estate market may have peaked. Sales of homes throughout the area fell 26 percent when comparing May to this past April. In May there were 3,670 listings in the residential market and 1,682 sales as reported by the Realtors Association of Edmonton. In April, 1,740 homes were sold. The difference is a negative 3.3 percent.
Many home buyers wanted to get into the market before the new real estate laws went into effect in mid April and before the mortgage rates went up any farther. Some increases in mortgage rates have already been seen, with more expected, or promised by the Bank of Canada, by June 1st.
Since the second quarter in Edmonton is usually the busiest for real estate sales, agents are hoping for a rebound which will insure a stable market for the remainder of this year. To date there are 16,048 MLS listings, higher than in the 2007 boom year when the listings came in at 15,488.
So far real estate prices have not taken any dramatic dips. Prices for a single family home in May averaged $390,583 which is up just under one percent from this past April and 6.5 percent over May of 2009. Average prices in condos dropped by two percent, coming in at $248,526 per unit.
Edmonton MLS® Blog - Friday, April 23, 2010 - Edmonton Takes Steps To Encourage Subsidized Housing In More Neighbourhoods
Edmonton tends to put its subsidized housing all in the same place, namely in the inner city sections. Consequently, these sections struggle with the issues of homelessness, a high crime rate and a population with a high number of residents living in poverty. City council agrees that this trend cannot continue, but knows the change to more evenly distribute subsidized housing throughout the city will not be easy.
Social agencies and concerned citizens, tired and worn out from trying to cope with the constant influx of the poor and ill mannered into their communities, are asking for a moratorium on adding any more housing projects in the inner city. This proposal morphed into a flexible cap option that allowed for certain circumstances where subsidized homes could be built.
Among the exceptions are small structures that replace properties that are beyond repair and those homes funded by Edmonton’s Housing First program. This program is part of Edmonton’s target to end homelessness within ten years. Projects proposed under these parameters will each be assessed and the community will be able to have a say in what goes up, and what does not.
Edmonton patterned this flexible option after a program in Portland, Oregon which is called the Location Policy. The goal is to discourage concentration of low income housing in one area of a city, but rather to more evenly integrate these homes.
Edmonton MLS® Blog - Tuesday, March 30, 2010 - Edmonton’s Office Vacancy Rate High in 2010’s First Quarter
Despite the fact that Edmonton’s commercial real estate market vacancy rate is the second highest in the nation, after Calgary, the opinion is that the market is still healthy. Vacancy rates did rise in the first quarter of 2010, up to 10.6 percent compared to 6.5 percent from the first quarter of 2009. But there is renewed interest in the oil sands and the energy markets, which can only trickle down to the rest of Alberta’s economy.
Rental rates have decreased between 15 and 20 percent, but still the prices per square foot are higher than five years ago. Even with that, the vacancy rate is expected to hold steady through the rest of 2010. There is also the possibility of vacancy rate increases, but not to the same levels as predicted in Calgary. Part of Calgary’s increase will be due to two large developments coming on line in the next 18 months adding 2.7 million more square feet of available apace.
Nationwide, office markets in both downtown and suburban areas have been oversupplied throughout 2009 with an average vacancy rate of 10.1 percent. Though employment and subsequent leasing conditions are improving things are expected to be slow going throughout 2010. As representatives of some firms have pointed out, with the decrease in rental rates and the excess availability, it is at present a tenant’s market. That in itself may be enough to encourage more pens to find their way to that leasing dotted line.
Edmonton MLS® Blog - Monday, March 15, 2010 - Edmonton Home Prices Not Keeping Pace With 33-Percent Sales Increase
Despite a jump in real estate sales, price increases in the Edmonton region failed to keep pace, per data released by the MLS March 2. The average price for a single-family home, $369,573, increased by 1.4 percent in February versus January, and rose by 5.6 percent over February 2009. The median sales price for a single-family residence was $355,000, representing a six-percent hike over February 2009’s median sales price.
Sales of condominiums decreased by 3.8 since January, with an average selling price of $231,530 last month. That price is up a scant 0.8 percent versus a year ago. However, prices for town home and duplex units grew by 3.3 percent, to $315,390 last month versus January.
Actual sales information indicated significant increases over January and a year ago: Home sales in February totaled 1,184, up nearly 34 percent and 7.6 percent over January and a year ago, respectively. Realtors Association of Edmonton President Larry Westergard said that the heightened sales pace represents proof that demand for housing continues in the area. He also noted that February’s upswing in sales is likely due to homebuyers’ wanting to make purchases before interest rates inevitably rise and mortgage regulations become tighter.
The addition of 2,505 homes for sale in February is helping to alleviate any concerns over a low inventory for the important spring selling season. By the end of February, a total of 5,449 homes were on the market, with a decrease in the average market time from 49 to 47 days.
Edmonton MLS® Blog - Monday, March 1, 2010 - Puppies Arrive in Edmonton From Winnipeg, Need Homes
Edmonton is going to the dogs, or in this case, the dogs are going to Edmonton. The Winnipeg Humane Society sent a truck containing 22 large and medium-breed puppies to Edmonton’s Humane Society February 21. When the dogs have received necessary medical care and have undergone behaviour testing, they will be ready for adoption.
According to Bill McDonald, director of the Winnipeg society, there have been fewer pet adoptions recently, and for no discernible reason, more puppies are being delivered to his shelter. He noted that in order for puppies to become physically and emotionally stable dogs, they need the environment of a family home, with individualized training and care.
Last month, 112 small-breeds were flown to Edmonton via private jet from Fresno, California. Of those dogs, well beyond 90 percent have been adopted.
Since Edmonton’s society had been successful in its recent efforts to find homes for dogs sent from California shelters, McDonald asked if Edmontonians could possibly adopt the surplus of dogs from Winnipeg, commenting that Edmonton has a reputation for being animal-friendly.
Shawna Randolph, a spokesperson for Edmonton’s society, said that the dogs’ journey from Winnipeg was funded by local businesses and society volunteers. Cochrane’s Automotive Repair provided service for the society’s truck to ensure it was ready for the 1,700-kilometre road trip. A Lexus dealership in the city’s west end donated $2,500 for gasoline. Society volunteers Les and Sandy Raubenheimer drove the truck, and paid their own way.
Leaving Edmonton February 18 and arriving in Winnipeg on the 21st, the Raubenheimers collected the puppies. After an overnight stay in Saskatoon, where the local SPCA sheltered the dogs, the truck arrived in Edmonton February 22.
Edmonton MLS® Blog - Saturday, February 6, 2010 - Animal Rights Group Sues Edmonton to Remove Elephant from Zoo
A lawsuit was filed to move the Edmonton Valley Zoo’s only elephant to a sanctuary. People for the Ethical Treatment of Animals (PETA) initiated litigation to relocate 34-year-old Lucy, who has been a resident of the zoo for the past 32 years. The group claims that Lucy is isolated at the zoo, and needs to engage with fellow elephants. The organization also claims that her habitat is not large enough and that Edmonton’s weather is too cold for her.
Lucy, an Asian elephant, once had the companionship of an African elephant, Samantha. When Samantha’s trunk was accidentally severed three years ago, she was transferred to an animal sanctuary. Lucy lives in an environment designated as “open-contact,” with interaction with zookeepers. At present, she is the only elephant in Canada to live by herself in a zoo.
Contrary to PETA’s assertions that the elephant is depressed and bored, a November 2009 City of Edmonton report notes Lucy has bonded with the zookeepers. Also in the report was notation that Lucy suffers from an undisclosed ailment, and that a move could threaten her life. In the report are the details of a recovery program developed by Dr. James Oosterhuis, an elephant veterinarian. Consulting with Dr. Milton Ness, Lucy’s veterinarian, Oosterhuis detailed that the elephant is affected by obesity, foot infections and arthritis. Along with other animal rights organizations, PETA contends that these conditions are typical of those experienced by elephants living in zoo conditions.
According to the Valley Zoo, Lucy has been both pigeon-toed and bow-legged since birth, resulting in an uneven gait. She engages in physical therapy sessions and is on a diet-food regimen. The elephant also has a nasal problem that necessitates the use of medications.
Edmonton MLS® Blog - Thursday, January 28, 2010 - Inaccurate Letters from TUC
There has been a major error on the part of the Heartland Transmission Team in sending notices to the residents that live along the eastern Transportation Utility Corridor on the side of Sherwood Park. The letters tell residents that the route along their property is no longer be considered.
In all actuality, the information is totally false, and it can be looked upon as a malicious attack on the residents to undermine their attention to the proposed routes. For the residents to receive such a letter when the route is the proposed and most practical and popular of the proposed routes is quite shady.
Officials in Strathcona County are also extremely upset with the situation. Of course the spokesperson for the Heartland Transmission Team is blaming the error on mixed-up postal codes.
He says that the TUC mailed out thousands of notices to residents along all routes to inform them of the status of the project. The TUC wants to gain approval to construct its 500kV power line that will run from Wabamun to the Heartland.
Anyone who lived within 800 meters of any proposed route will receive updates from the TUC. While some say the false letters are a scheme, the TUC stands by its mistake and says there was no ill intentions. The false letters definitely impacted the number of residents who attended recent meetings about the routes of the new transmission line.
Edmonton MLS® Blog - Tuesday, January 12, 2010 - Olympic Torch Relay Route Edmonton
The city of Edmonton recently announced the route for the Olympic Torch Relay, which will pass through the city on January 13, 2010.
A fourteen kilometer route will see over fifty torch bearers carry the Olympic flame through the city. The procession will officially begin at Hawrelak Park at 5 p.m. From there, Edmontonians are encouraged to cheer and watch the procession of the torch.
From Hawrelak Park, the torch will travel past the University of Alberta’s main campus, down Whyte Ave. The route will cross the Walterdale Bridge, and proceed to the Alberta Legislature, then down Jasper Avenue. The procession will conclude at Churchill Square. Local Olympian Doreen Ryan, who competed in speed skating in the 1960 Olympics, will be on site to help light the community cauldron around 7 p.m.
The event will wrap up with a celebration concert, where locals can enjoy music and food. Citizens are encouraged to participate in the event by wearing red or decorating their homes with the color red.
Organizers of the event hope to see over 20,000 people line the route in order to create a parade-like atmosphere.
Edmonton MLS® Blog - Thursday, November 19, 2009 - Edmonton Police on the Hot Seat
Policemen are known for serving a valuable purpose in society but Edmonton could be on the verge of losing many men and women that are trained to protect and serve the community; according to what city counsellors are saying.
Recently city counsellors got a bird’s eye view of their 2010 financial statement and it’s requesting that city departments put a lid on budget increases by at least 3% in hopes that it would limit the tax hike that’s expected next year for homeowners by 5%; however, the Edmonton Police Commission is suggesting that in order to facilitate the delivery on the announcement, millions of dollars will be taken out of the pocket of policemen/women, and according to the Chief of Police, Mike Boyd, this will definitely cause a reduction of service on the streets of Edmonton.
Based upon what was revealed in the final analysis, at least 80% of the Police Department’s budget concerns people and if anything’s going to be cut; it will be people. Mr. Boyd goes on to say that losing hundreds of positions would severely impact the type of service that’s being performed on the streets because the lost of these position would significantly impact the presence of service in the streets. This gave way to the police commission calling on the city council to increase the budget of department by 10% for the upcoming year in order for service in the streets to be business as usual.
Not only will we be witnessing police layoffs but the council is warning that policing levels must meet local requirements are risk losing some 105 more positions. It doesn’t take a genius to realize that this could cause mayhem in the streets of Edmonton and some members of the council are suggesting that higher ranking officials in the police department are pulling out scare tactics to get what they want including Mayor Stephen Mandel.
In the event the drafted budget is passed taking the request of police in consideration, it creates the possibility of the average homeowner paying an additional $94 on the tax bill of their property next year which could cost every bit of $1,525; however, if the council were to approve things based upon the 3% tax hike for other departments, we could be looking at a reduction of $20 on annual increases.
Edmonton MLS® Blog - Tuesday, November 3, 2009 - Renovations That Are Cost-Effective
If you are thinking about selling your home someday, there are a number of home improvements that can improve your home’s saleability, as well as the rate of return you can expect on these modest investments. Among the improvements you can make that will offer the highest rate of return are an upgrade of the bathroom or kitchen – each of which can see a rate of return of between 75 and 100 percent, and interior and/or exterior painting that can see a return of anywhere from 50 to 100 percent.
At the mid-range level of return are improvements such as replacing the roof, furnace, or heating system (50 to 80 percent return); finishing the basement, or installing a fireplace or hardwood floor (50 to 75 percent return); adding a garage or deck, or upgrading doors and windows (also 50 to 75 percent); or adding central air conditioning for the home (25 to 75 percent rate of return).
Even at the lower end of the rate of return scale, additions and upgrades can dramatically improve the attractiveness of your home. Various landscape elements, including adding paving stones to the driveway, can net a return of anywhere from 25 to 50 percent – as can the addition or upgrading of a fence. An asphalt driveway can return from 20 to 50 percent, while a swimming pool can help you see a return of between 10 to 40 percent. Finally, the return rate for adding skylights can range from 0 to 25 percent.
A careful review of your home’s current state, as well as the features available in similar homes in your area, should help you to determine exactly which areas you would like to focus on in your attempt to upgrade your home to improve its chances for selling quickly.
Edmonton MLS® Blog - Thursday, October 15, 2009 - Mortage Fraud Continues Despite Real Estate Slowdown
Mortgage fraud, an ugly component of the once-booming real estate market, continues to plague a softened realty environment. Among those committing the crime were several Canadian lawyers. Some were convicted, others not. Affecting many transactions, mortgage fraud robs victims of millions of dollars.
The most attractive real estate areas and high-end properties tend to be mortgage fraud targets, according to legal experts. Lorne Shuman, who directs legal services for Ontario-based First Canadian Title, commented that mortgage fraud occurs most frequently in Ontario, but British Columbia is also affected.
Although many homeowners buy title insurance, they are not risk-free as a result. An opportunity for fraud may easily be found by way of the voluminous paperwork, accessible data and the many people involved in any mortgage transaction. Ontario’s fraud laws have been strengthened in the past few years, making it less likely for the initiation of criminal activity. However, the problem has not been completely eradicated.
Edmonton MLS® Blog - Tuesday, September 29, 2009 - Growth in the Canadian Realty Market
The Canadian home market remains strong despite a slight decline in August home sales. Overall, home resale figures are 18.5% higher than sales figures reported for the same time last year. Demand in the housing market is expected to continue to grow as consumers gain confidence in the economy and interest rates remain low.
British Columbia and Vancouver saw the greatest growth in home sales while sales in Quebec and Alberta were slightly down. However, the combined total sales were higher than economists’ expectations and could be seen as a sign that the market is beginning to show signs of recovery.
However, other economists see the numbers as a distorted indicator of housing market health. Millan Mulraine of the Toronto-Dominion Bank notes that figures for sales are based on houses already on the market and new market listing have actually declined. He states that gains in the market are only “relatively tepid” compared to the overall state of the housing market.
While the overall Canadian home sale figures may appear murky, growth in the higher-end market sales are quite clear. Figures from the country’s higher priced markets show a clear gain in sales and increased home prices.
Edmonton MLS® Blog - Friday, September 11, 2009 - Recession Starting To Hit Home
Although recent reports say the economy is rebounding, a Harris-Decima poll revealed almost 500,000 more Canadians are unemployed this year than during the same time period last year, which means a whole lot more hungry people could show up at the Edmonton District Labour Council’s Labour Day Barbecue.
Dennis Mol, president of the Canadian Union of Public employees plans to hand out food and drink at the 20th annual barbecue which is seeing more and more more unemployed and underemployed Canadians each year. Mol also plans to entertain children who may not have a home to return to after the festivities.
On a more positive note, the poll, which was conducted by the online employment site Monster.ca last month, said that 46% of Canadian employees feel more secure in their work environment than they did last year. Additionally, it revealed that 88% felt satisfied about their conditions of employment.
Unfortunately, union officials commented that those who are employed are fighting to keep pension benefits and stave off other attempts by employers to cut costs and save money during the economic crisis.
Edmonton MLS® Blog - Saturday, August 22, 2009 - Con Artist Targets the Elderly
Police in Edmonton are on the lookout for a suspect who defrauded two elderly women. The man pretended to be a security officer at a local bank and convinced the two victims to hand over $6,300. This was not an average theft; the suspect somehow knew delicate financial data about the two women. Most disturbing, the man convinced the two women to meet him in person to hand over the cash. Luckily, neither woman was physically harmed.
The women were contacted by telephone on June 8 or 9 by a man posing as a security employee at their bank. He convinced them that he needed their help to catch a dishonest banker at the institution. They were to take thousands of dollars from their accounts and meet him in person. The victims were assured that the money would be returned to their accounts that day. Neither woman was reimbursed as promised, so the incident was reported to the police.
This swindle has been perpetrated across Canada for two years. The criminal is an older, professional-sounding white man of average height and weight with brown eyes. In the last incident, he was unshaven and wore dark colored clothing and a hat.
Edmonton MLS® Blog - Monday, August 10, 2009 - Provinces Unemployment Rate Expected To Rise
More economists are predicting a higher provincial unemployment rate, as figures from the last few months are worse than previously anticipated. It’s been noted in multiple reports that the unemployment rate is the worst that it has been in around 13 years, but some are saying the worst is still to come in the province. At 7.2% the amount of unemployed people in the province is at a rate that has not been seen since 1996.
The country as a whole lost 45000 jobs last month, when most were anticipating 20000 for the month. Alberta lost around 3700 jobs in July, compared to last month when the province increased it’s labour force by 5600 or so. More full time positions were lost or changed into part time positions, again a tell tale sign of a poor labour market.
So how will this affect the housing market? More than likely we are going to see more and more foreclosures in the market, which could lead to some interesting deals being available for consumers. Buying power could be lowered for many, however many feel the economy and the housing market in particular in on a recovery footing.
I wouldn’t get too worked up about these reports, we all knew the recession wouldn’t leave the country overnight. It’ll be interesting to see how it affects the housing market, however the Edmonton economy is extremely resilient.
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