The Glen Godlonton Real Estate Team

Glitter Gulch and Cowtown? Vegas compared to Calgary

Glen Godlonton — Tue, 08 May 2012 16:41:00 GMT

The following is the first of a two-part series comparing Las Vegas with Calgary.

Talk about being a fish out of water. My wife and I recently spent a week in Las Vegas and we didn’t gamble, see a show or pig out at a buffet.

“So, why go to Vegas?” you ask?

We hadn’t been there in 25 years — and we had heard many great things about the Nevada city from friends and media about how it had become more focused on entertainment than gambling.

I had also read about a new sense of urban design, including major new buildings by renowned architects such as Frank Gehry and Daniel Libeskind.

As urban explorers, we like to keep an open mind. There is something to be learned from every city.

Urban development is an experiment — and there is perhaps no bigger experiment in city building than Glitter Gulch.

Calgary and Las Vegas have more in common than you might think. Both cities are about 100 years old, so they have evolved in a parallel fashion, incorporating new thinking on technological, social, design and planning trends.

Both cities also have a population base of about one million and experienced massive growth from 1990 to 2007.

Both have one dominant economic driver — for Vegas, it’s entertainment (140,000-plus hotel rooms), while for Calgary, it’s oil and gas (140,000-plus office spaces). Both cities, too, have been chastised by urban development critics for their massive urban footprint.

Las Vegas bills itself “the Entertainment Capital of the World,” while Calgary lays claim to the “Greatest Outdoor Show on Earth.”

The atmosphere is electric, with thousands of visitors from around the world milling about waiting for the next show.

Personally, I found it much more interesting than The Strip as a place to people watch in Vegas.

However, go a block off Fremont Street and the sidewalks are deserted, day and night.

There are no restaurants, cafes, galleries or shops.

In fact, there is no shopping in Vegas’ downtown proper.

Perhaps it is because of the huge designer outlet mall about three kilometres west of the downtown.

An entire new urban district is being created west of old downtown Las Vegas.

It includes mega projects such as the Clark County office complex and the World Market Centre.

The latter is a five-million-square-foot project (2.5 times larger than the Bow tower) built to showcase home and hospitality furniture and decor for designers — with one building open to the public, although you wouldn’t know it as it looks closed most days.

This district also includes the funky Frank Gehry-designed Cleveland Clinic and the recently-opened, Art Deco-inspired Smith Centre concert/performance hall.

Soon to open, too, is the Children’s Discovery Centre.

However, this west downtown development has a suburban-like look, with huge surface parking lots and mega above-ground parkades.

In addition, it is totally cut off from the old downtown by railway tracks and highways, so there is no connectivity to Fremont Street.

Coupled with the fact that Vegas’ downtown is surrounded by huge tracts of vacant land, this makes it a quite unpleasant place to wander except for the most ardent urban explorer.

South of downtown (think Calgary’s Beltline) sits an 18-block area called the Arts District.

While it becomes a lively place once a month on first Fridays when 20,000 people invade the area’s pop-up galleries and events, the rest of the time, it is mostly vacant lots and empty buildings.

Vegas’ downtown lacks the integration that Calgary’s downtown has with the oilpatch, financial, fashion, arts/cultural and government districts all linked together, providing the density and diversity of activities you expect of a downtown.

Vegas also lacks any public places such as Calgary’s Olympic Plaza, river pathways and Prince’s Island, or recreational facilities such as Eau Claire YMCA or Talisman Centre.

While there is some new condo development at the edge of Las Vegas’ downtown, it is quite fragmented and struggling to survive.

No urban villages with street retail and restaurants, such as Calgary’s Kensington, Inglewood or Beltline areas, were to be found.

There are no developments such as our Keynote or Calla condo projects, or master-planned developments like East Village or The Bridges.

As it stands today, downtown Vegas is not an attractive place to work, live and play. However, there are plans to change that.

The new Bonneville Street Transit Hub, with its bike centre, and the Main Street Antique and Vintage strip hold promise of better things to come.

LESSONS LEARNED

Downtown Calgary needs a Fremont Street-like experience — in other words, it must have a must-see attraction that brings people downtown. I couldn’t help but wonder when watching the Fremont Experience why we don’t have some sort of Stephen Avenue Walk Experience.

Sure, a few attempts have been made — the “dripping lights” along the street in the winter, and the treelike structures on the Bankers Hall block with their subtle lighting and music.

During the Grey Cup celebrations a few years back, there were bold light shows on the buildings and roadway that added some fun and animation to Stephen Avenue Walk.

Perhaps The Core could do a symphony of light and music utilizing their luminous three-block-long glass skylight.

Or, as a national historic district, how about using LED lights to create silhouettes of the various historical buildings along Stephen Avenue?

Over the years, there have also been many experiments to create an Olympic Plaza Experience, and old City Hall has been decorated with white lights.

The trees along Seventh Avenue have been decorated, abstract-shaped LED lights have been attached to the side of buildings around the plaza, and I believe even lights under the skating rink have been tried.

Despite such efforts, the plaza is great when there is a festival happening, but it hasn’t become the great gathering place we all hoped it would be.

We experiment, but never seem to be able to create an ongoing public program that will enhance the nightlife along Stephen Avenue Walk or the Olympic Plaza.

The Fremont Experience originally cost $70 million US, with a further $17 million to upgrade to LED lighting.

Officials also added ziplines, allowing people to zip from the top of the canopy on one block to the ground on the next, reaching speeds of 50 kilometres per hour.

Calgary’s problem is that everything we do is too subtle to capture the public’s imagination. We need to create something bold, beautiful and spectacular.

For the second part of Richard White's series comparing Las Vegas with Calgary, see Time to take a Strip off Las Vegas planners

Some Basic Information about Building Infills

Glen Godlonton — Wed, 01 Feb 2012 16:37:00 GMT

Residential Infill

Residential infill is the development of new housing – suites, apartments, houses – in established neighbourhoods.

The Residential Infill Guidelines for Mature Neighbourhoods provide direction to developers, communities, city administration and City Council about how such development should occur. The Guidelines are an approved City Policy (C551) and were adopted in June 2009.

Benefits of residential infill

Neighbourhood revitalization (social and physical renewal)
Makes better use of existing City infrastructure, public facilities and services
More housing options and increased affordability
A more financially and environmentally sustainable city

The Guidelines address:

Where different scales and forms of new residential development should be located.
How buildings and sites should be designed to ensure compatibility with existing housing and the character of the community, and high quality development that enhances the area.

Where the Guidelines apply

The Guidelines apply to all residential infill in Edmonton’s mature neighbourhoods. All residential infill in these neighbourhoods should meet the overall goals of the Guidelines as well as comply with the Guidelines specific to the scale and form of development proposed.

Incorporating the Guidelines into the Zoning Bylaw

A number of changes to the Zoning Bylaw are required to ensure that all new residential development in mature neighbourhoods is located and designed according to the Infill Guidelines. Sustainable Development is working on these in consultation with communities and the development industry. Proposed changes are posted on the City's website as they become available and before they are brought forward to City Council.

If you are considering infill:

Review the Residential Infill Guidelines
Check to see if the development site is affected by an Area Redevelopment Plan or Land Use Plan that guides redevelopment in the neighbourhood.
Check the Zoning Bylaw to see if the site is zoned for the type of development proposed.
Check the Infill Guidelines to see if they would support a rezoning of the site.
Use the Infill Guidelines and appropriate “Overlays” in the Zoning Bylaw to design the building(s) and site.
Contact and consult with Sustainable Development as needed.

http://www.edmonton.ca/city_government/projects_redevelopment/residential-infill.aspx

Calgary Infill Duplex Installation Project

Glen Godlonton — Mon, 14 Nov 2011 23:26:00 GMT

Very interesting video by Planet Panels in the process of building an infill in Calgary using eco-friendly building materials

http://youtu.be/DeU36EWlzKc

Heritage foundation touts laneway housing in Vancouver

Glen Godlonton — Sat, 27 Aug 2011 01:56:00 GMT

City council will provide $42 million for 38,000 new housing units

By Andrew Fleming

The Vancouver Heritage Foundation is hoping to find older laneway homes to showcase to help sell the idea that building homes on the same lots as existing houses isn’t as radical an idea as many think.

Last month, city council approved a 10-year affordable housing plan that will provide $42 million in land and capital grants to create 38,000 new housing units, including laneway homes.

Laneway housing was already part of the EcoDensity initiative helped brought in by former mayor Sam Sullivan. Adopted in 2009 and the first of its kind in North America, the housing plan allows backyard cottages, typically between 500 and 1,000 square feet, to be built on about 94 per cent, or roughly 60,000, of the city's single-family lots.

However, in a quite literal example of NIMBYism, some residents don’t want to see new homes built in backyards in their neighbourhoods due in part to the added congestion.

Jessica Kuan, a program and administrative assistant for the foundation, said the foundation hopes to find old-fashioned examples of how smaller homes can cohabitate with larger ones.

“We’re going with the term laneway because that’s the city’s terminology, but really it’s not just about the laneway as the city defines them,” Kuan told the Courier. “Many old coach houses and infills really do constitute the same idea of having another living space on the same property whether it is divided or one ownership.”

While the term “laneway” itself is relatively new, secondary homes (also known as coach or carriage homes) built on the same residential lots as other houses have been around for decades. The trick is to find one that’s still standing and whose owner is willing to open its doors to the public. The foundation held its first laneway tour, which saw a few hundred curious people squeezing into 10 newly constructed laneway homes, last December.

“We’re trying to find one that really is historic to Vancouver, one that wasn’t built later or was infill. The goal is to find one that would constitute an original laneway and we’re trying to broaden the term as well since the city started this program.”

Laneway homes are typically detached dwellings located in the backyard or garage area and are limited to rental or family use only with no separate legal or strata title. At least one parking space must be provided, which could include an enclosed garage. Both contemporary and traditional designs are permitted and homes can be single-storey or have upper-storeys.

“What we’re trying to do is find an existing home with a laneway that might help show how you can build your laneway to go with it instead of building some big modern laneway that might even eclipse the original house. Clearly there have been coach houses that have been transformed into housing, so it’s not entirely new.”

Seven ways to build up your credit score to be eligible for the best interest rates

Glen Godlonton — Mon, 06 Jun 2011 20:53:00 GMT

Credit score requirements for loans are higher than they have been in the past, so a good credit score is more crucial than ever. In today’s economy most lenders are looking for credit scores of 720 or higher to secure a low mortgage rate. Here are seven ways to build up your credit score so you can enjoy the best interest rates available.

Request your credit reports and assess the situation. Credit bureaus (www.experian.com, www.transunion.com, www.equifax.com) are required to provide you with a free credit report every year. Nationwide consumer reporting companies get their information from different sources, the data in your report from one company may not reflect the same data in your reports from the other two companies, so request all three.
Check to verify all of the information is correct. If there are any errors, contact the bureaus immediately.
Your payment history accounts for 35% of your score, so make sure payments are on time every month.
The amount owed is 30% of your score. A good rule is to use less than 10% of your credit available on each individual card.
The length of your credit history accounts for 15%, so maintain your accounts instead of closing them. You are not penalized for available credit.
New credit is 10% of your score and every time you apply for credit an inquiry is added to your report, which drops your score.
Types of credit used accounts for 10%. Installment loans like vehicle and personal loans demonstrate you can manage various long and short-term credits.

By: Manisha Jain http://www.trulia.com

5 Celebrity Real Estate Mistakes Real People Make

Glen Godlonton — Thu, 19 May 2011 05:12:00 GMT

By: Tara-Nicholle Nelson, Trulia.com

A friend of mine who is generally inclined toward intellectual pursuits recently took a trip out of town on her own. As she recounted her solo hotel stay, she exclaimed that the high point of her trip was being able to watch reality television without her family’s judgment. I told her that when her family gives her guff, she should point out that beyond the pure (albeit debatable) entertainment value, there are lots of lessons and takeaways that can be gleaned from the stars of reality TV, film and the music industry.

Unfortunately for celebs, when it comes to real estate, the lessons they can teach us tend to be cautionary tales. Behind their ultra-bright veneered smiles, many pararazzi magnets hide housing horrors and real-life real estate dramas.

Here are five Hollywood-inspired lessons to file in your mental rolodex under “Real Estate - What Not to Do:”

Celebrity Real Estate Mistake #1: Overspending. If you’d seen the episode of Real Housewives of New Jersey in which everyone’s favorite “Skinny Italian” table-flipper Teresa Giudice pulled out a fat bankroll of cash to pay for her four kidlets’ every little leopard printed, pink ruffled, pose-striking desire, it probably came to you as no surprise that her home with husband Joe ended up with their home - and all its contents - on the bankruptcy auction block in 2009. (To be fair, Giudice has always maintained that her home was not in foreclosure.) Nevertheless, the auction listing confirmed the worst overspending suspicions; the Giudice estate was laden with gilt rococo couches, faux marble chess sets, even a suit of armor!

Bottom Line: Los Giudices took lots of heat in the press for their over-the-top spending, but they certainly weren’t the only American family who spent so much at the top of the real estate market that they ended up with debt they couldn’t sustain and mortgage problems when the market crashed. Spend less than you make. Save up for rainy days. And ask yourself before you buy anything: Do I really need this? And if it’s a major purchase which could someday come between you and your mortgage payment, ask yourself this, too: Would I stake my house on it?

Celebrity Real Estate Mistake #2: Assuming the bank will work with you. Here, again, the Real Housewives are our teachers, but this time, we’re talking about Lisa Wu Hartwell in the ATL and Alexis Bellino in the OC. From the blogosphere and their own admissions, it seems that they both were in loan workout talks with their banks, having sought assistance with their upside down mortgages, when things went south.

Wu Hartwell (a real estate agent) and her baller hubby Ed were in the middle of negotiating a short sale on their home when the bank sold it at a foreclosure auction. Bellino and her husband, Jim, tried for months to secure a loan modification and keep their home, but had multiple foreclosure notices filed against their Newport Beach home as well before finally selling the place for nearly $2 million less than they owed on it.

Bottom Line: Many homeowners stop making mortgage payments in the hope it will “encourage” the bank to work with them and grant a short sale or loan mod - and the fact is, sometimes it works. Some banks even flat out tell their borrowers not to bother applying for help unless they’re behind on their payments. But the fact is, once you start missing payments the snowballing past due amount can quickly get out of hand, and take you from simply wanting a loan mod to the bank’s cooperation being essential to keeping your home. Before you start missing payments, understand that you could very well end up losing your home if the bank doesn’t play ball.

Celebrity Mistake #3: Knowing nothing about your own finances. Real Housewife of OC Lynn Curtin was shocked to tears when her teenage daughter was handed an eviction notice. She was surprised, but her husband wasn’t - he’d been hiding their deteriorating financial situation for a long, long time. The end result? She and her kids had to move out of their luxury waterfront rental home - and into Grandma’s condo.

Bottom Line: Ignorance ain’t bliss. No one but you is responsible for your awareness of your own finances, no matter what your division of labor with your spouse around paying bills or bringing home the bacon happens to be. Since homelessness is the most severe, but highly possible, real estate result of willing cluelessness about your financial situation, it behooves you to stay on top of what comes in - and goes out - of your accounts on a monthly basis (and to be certain your housing expenses are paid!).

Celebrity Real Estate Mistake #4: Flipping a house, expecting a fast fortune. In 2007, Ricky Martin paid over $16 million for this house, then poured a good deal of cash (and some very good taste I might add) into it, preparing to flip it. He’s made beaucoup bucks using this strategy in the past - but this one was timed all wrong. The market tanked right around the time he listed the home for sale at $22.5 million in 2007 - and it’s still on the market at $18.5 million! Given the fact that a mortgage on $16 million would run a mere mortal a cool $100K/month, it’s a good bet he’s losing money faster than his notorious hips can swivel.

Bottom Line: Flipping houses can be high reward, but it can also be high risk. Even well-connected, well-funded repeat flippers can occasionally take a bath. If you don’t have the cash to withstand a disastrous flip, don’t even try it.

Celebrity Real Estate Mistake #5: Not paying your taxes. In the face of tax liens in the millions of dollars and allegations of fraud by his financial advisor, Nicolas Cage lost at least 3 homes to foreclosure in 2009, and has at least one more still on the market. Comedian Sinbad’s new reality series actually opens up with a stand-up routine devoted, in part, to losing his home due to tax issues. Chris Tucker’s $11 million tax lien was publicized right before his 6,000-plus square foot Florida home went on the market.

Bottom Line: Of course, most of us don’t have the millions in income it takes to create millions in income taxes. Yet the IRS says around 10 million Americans - most of whom don’t have Academy Awards - fail to file their returns every year. Occasionally, late returns cause a domino effect into a tax problem that impacts an individual’s ability to pay their rent or mortgage. So, pay your taxes. Get a financial advisor or tax preparer with stellar references from long-time clients, and make sure you understand what’s going on with your taxes - don’t just sign the papers. (See Celebrity Real Estate Mistake #4.)

Affordability in Calgary's marketplace

Glen Godlonton — Wed, 11 May 2011 15:13:00 GMT

By David Parker, For the Calgary Herald April 30, 2011

An RBC Housing Affordability Measure Report showed Calgary's affordability levels are currently the best they've been in six years, but that could be short-lived if mortgage rates rise.

Today, therefore, is a good time to buy and with the same report suggesting young Canadians are most likely to be buying, I assume they'll be looking for a resale home at moderate prices.

Having bought our first new house in Calgary for under $20,000 a long, long time ago and our last home some 14 years ago, I find all prices in comparison fairly high, but in today's market I suspect that anything under the mid-$300,000 mark is achiev-able for a good number of young people starting out.

It might mean starting out with a condominium or townhouse property, but home ownership is desirable if at all affordable.

Unfortunately, young couples who are planning a family have to pretty well exclude the downtown and close in inner-city communities due to the lack of schools.

And with the threat of more school closures it's wise to get a good handle, if possible, on which ones could close, or kids will be spending a lot of time on the bus.

Dalhousie has schools and you can find a one-bedroom apartment for $184,900. Just down the road in Varsity Village across from Market Mall is another listed at $149,900. A two-bedroom 1,250-square-foot condo that gives a peek at the mountains in the recently renovated complex on Valiant Drive by Shaganappi Village shops can be yours for $259,900.

Houses are a little more expen-sive of course, but in Thorncliffe there's a 1,000-plus square foot house that boasts four bedrooms for $339,900. Conveniently located only a block from Centre Street, it has a fully-finished basement and a west-facing backyard, ideal for a first-time buyer.

Huntington Hills is another north Calgary area where you can find reasonably priced homes.

One I spotted at under $350,000 is another that has four bedrooms in almost 1,900 square feet of developed living space including a large rec room with wet bar downstairs.

Besides schools, the convenience to shopping and public transportation is high on most people's wish lists and I would expect that when completed the west LRT will be taking a lot of workers into the downtown.

It will run along 17th Avenue S.W. and at an address right along the avenue in Glendale I spotted a three-bedroom house for sale at $399,900.

Fairview, south of Glenmore Trail and east of Macleod Trail is also an older (1965) district where good values can be found. Listed at $328,000 is a three-bedroom bungalow on a corner lot, while a little further to the south in the 1995 community of Millrise is a $349,500 listing on a quiet cul-desac that is also close to an LRT station.

This bungalow features two bedrooms on the main level and two more downstairs, that with its own kitchen, full bath and living area has been used as a motherin-law suite.

Nicer weather will mean lots of traffic at houses for sale so this weekend is not too early to go hunting for your own place.

Secondary suites will be allowed in new Calgary communities

Glen Godlonton — Wed, 20 Apr 2011 16:05:00 GMT

Homes in established communities remain untouched

By Corey Davison, Calgary Herald April 19, 2011

CALGARY — The city will allow secondary suites in all new neighbourhoods.

A motion passed by council Monday means that homeowners will be able to purchase new residences already knowing their neighbourhood could be built with secondary suites.

Existing homes and zoning that do not allow secondary suites will remain untouched.

Ald. Peter Demong was applauded by Mayor Naheed Nenshi for putting forward this compromise to the previous and contentious proposal to legalize secondary suites in all residential zones.

Demong did not believe the Nenshi’s plan for citywide suite reform was fair because many homeowners had bought their residences on the grounds that their community didn’t have secondary suites.

While some aldermen believe this decision was a step in the wrong direction because it could reduce property value and the number of multi-family dwellings in Calgary, David Watson, the city’s general manager of planning, said this change will give homebuyers more options.

Ald. Druh Farrell agrees, noting she doesn’t see the allowance of secondary suites as a limitation.

“It just offers people some opportunity when they’re trying to get into the housing market,”said Farrell. “Very few of these are built. They’re built on an opportunity basis when the homeowner sees an advantage.”

Farrell added that a range of groups from the Chamber of Commerce to the developers’ association have actually stepped forward and urged secondary suites be legalized in all city residential zones.

“We received a joint submission from Urban Development Institute and the (Canadian) Home Builders Association on February 18, exactly two months ago, stating that they believed that Calgarians need access to safe, affordable housing,” said Nenshi. “They believe in rental accommodation and they strongly believe in making every single house in the city have secondary suites.”

Read Calgary Herald Article

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The Latest Research Has Changed My Position On Real Estate

Glen Godlonton — Thu, 14 Apr 2011 14:21:00 GMT

By Don Campbell, REIN

It is time for me to be a little bit blunt and I apologize in advance. The research that me and my team have been executing has been very profound – and very timely with all the changes we are seeing across our country and the world. Political shifts, turmoil in the Middle East, and soaring oil prices are just a few of the issues we are being faced with.

As I have emphasized time and time again, there is NO Canadian real estate market, and the numbers come down to location, location, location. Markets are very specific (regional), and the fundamentals must be heeded exclusively to each individual area. This is where me and my team dig deep to find the truth behind the headlines.

So let me get to the point… The Canadian economic fundamentals are headed toward a period of long-term momentum, and this factors into the turmoil that is occurring around the world – the huge debt being created in the US, and the potential for the world economy to stay in the doldrums for a longer term.

Here's a very quick snap shot of what's happening right in your backyard, and why April 16, 2011, is such an important date for investors across the Ontario

Real Estate Market Numbers are Exactly
The Wrong Factors To Look At When You Want
To Predict What's Going To Happen

Here's what you use to predict the real estate market future: The Momentum Graph, which shows exactly the progression of an economy and how it will eventually impact the real estate market.

The Economic Formula to Predict The Future

In a nutshell this graph states the following:

GDP growth >> Job growth >> Population GDP GDP growth >> Job Growth >> Population Growth >> Increased rental demand (12 months later) >> Increased rents >> Property purchase demand (18 months later) >> eventually leading to property price increases.

The first step on the chart is GDP growth and contributing to the strong Canadian GDP growth is the following:

F3 + 1… Why This Is Important To You
and The Future of Real Estate

F3 + 1, stands for Food, Fuel, Fertilizer and Forestry. These four things are what the world will need as it comes out of its economic recession and looks forward to future growth. Canada is positioned well with a supply of these key ingredients. Read more...

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6 reasons Buyers aren't biting (and what Sellers can do to change that)!

Glen Godlonton — Thu, 11 Nov 2010 14:52:00 GMT

Interest rates are at historic lows: less than 4.5% on a 30-year-fixed and below 4% on 15-year fixed rate loans. And prices are low, too - at or near bottom in most of the country. Together, these items mean that affordability is near an all-time high.

It's like a massive, pre-holiday sale on real estate!

Nevertheless, home sales are only "gradually" creeping up, according to the most recent data published by the National Association of Realtors. And sellers are clearly still feeling price pressures; on Trulia's October price reduction report, an all-time high 27% of American homes listed for sale had had their price cut at least one time!

So, what's stopping buyers from running out to grab up all these affordable homes at affordable rates? And what can savvy sellers (and listing agents!) do to offset these obstacles?

1. (Perceived) difficulties in qualifying for a mortgage. Mortgage guidelines have tightened up significantly over the last few years, now requiring good (but not perfect) credit, documented income, a proven stable job history and cash for down payment and closing costs. Some buyers find it difficult to scrape the down payment money up; others find that they can qualify, but not for a large enough mortgage to buy any home worth owning (banks have tightened up debt-to-income ratios, too). Many would-be buyers don't even consider themselves serious prospects, disqualifying themselves in their own heads because they heard somewhere that a 20 percent down payment is necessary - in actuality, many buyers can qualify for a 3.5 percent down, FHA loan. Between actual difficulties qualifying and perceived difficulties that don't actually exist, lots of buyers are not biting because of loan "issues."

Seller Solution: Ask your agent to have a mortgage broker colleague prepare flyers reflecting various loan options, to give open house attendees a reality check about what it would actually take - including down payment, closing costs and monthly payment - to buy your home. Also, consider offering closing cost credits or being willing to chip in for lender-required repairs to empower buyers who are struggling with mortgage qualifying to close the deal.

2. Fear of buying a foreclosure. The ongoing robo-signing/foreclosure fraud scandal and the resulting foreclosure freeze is beginning to play a role. If you haven't heard, two of America's largest mortgage servicers have frozen foreclosures and resales of foreclosed homes in 23 states, and Bank of America, the largest lender in the land, has frozen them in all 50 states, all because sweeping fraud and improprieties have been revealed in the way the banks are processing foreclosure documentation.

More and more, buyers are fearful that if they buy a foreclosed home, that sale could be reversed down the road if it comes out that the banks wrongfully foreclosed on the former owner. And that could be stopping buyers from, well, buying foreclosed homes.

Seller Solution: If your home is not a short sale, all of your home's marketing materials should be trumpeting this fact - especially if most of your home's competition (e.g., similar homes in the area and in the same price range) are bank-owned homes and short sales. Seeing 'Not an REO/Not a Short Sale' on a listing or flyer is quite magnetic to buyers right now.

3. Waiting for the shadow inventory to come out. The phrase 'shadow inventory' refers to the homes that have been (or will soon be) foreclosed on by the banks, which are not yet on the market; some estimate this inventory to be as high as 7 million homes! Many buyers who are actively house hunting -- and who are disappointed with the homes that are available -- are fearful of pulling the trigger because they believe the banks are going to start releasing their 'shadow inventory' soon, and that those homes will be better than what's out there on the market right now.

Seller Solution: Work with your agent to strategically stage your home and even do basic, inexpensive repairs, to make it stand out against the competition as a desirable property. Also, ensure that your pricing is in line - or even slightly below - similar homes on the market right now, to ensure that your home seems like a very strong value for the price.

4. Waiting for the bottom. Given the trajectory of home prices over the past couple of years, there's a large contingent of buyers who are afraid that after they buy, home price will continue to fall and they will lose their hard-earned investment in the home. These are folks who are still waiting for the bottom (although by some accounts, including that of the Case-Shiller Price Index, the bottom is here or has already passed, in many cities).

Human nature is always to wait too long for the bottom, miss it, and then end up wishing we had bought sooner. The behavioral economics theory of myopic loss aversion explains this phenomenon as being due to the fact that the pain of losing money generates a greater psychological fear and avoidance than the prospect of gaining the same amount of money. Buyers can set themselves up to gain over time, even if they lose equity in the very near term, by making smart decisions about the home they buy and how much they pay for it, and planning to stay in their home for a longer term than previous generations of buyers did.

Seller Solution: This is a difficult one to counter, because it's really more about the would-be buyer's interpretation of the market than about their reaction to your home. If you live in a market that has had recent increases in home values, include that data in your marketing - make sure buyers are aware that they may already have missed the very bottom, and create a sense of urgency to buy your home before prices go up even more.

5. Unemployment/underemployment. Take California, for instance. The national unemployment rate is 9.6%; California's is a whopping 12.8%. But right around the same number of Californians are underemployed, meaning they work part-time, but want full-time work. That's right, a quarter of Californians are unemployed or underemployed, and -- right again! - none of those people are buying homes. On top of that, many people who do have jobs lack job security, the confidence of believing they'll be able to keep their jobs in the future. Interest rates could be zero, and people will not buy homes as long as they have no jobs or job security.

Seller Solution: If there are major employers in town that are within an easy commute of your home, both you and your agent should consider marketing it directly to employees there. Share your home's listing with Facebook friends who work there or even send an email out to your own contacts, if you work there yourself! Major companies' Human Resources Departments might help you get the word out to their employees - especially if you offer some incentive to an employee who buys your home, like a year's worth of subway passes. If you have universities nearby, there are likely online bulletin boards that offer housing options directly to relocating professors and employees.

6. Need to keep options open. Because home values are so volatile, currently, there's no guarantee that you can resell today's new home tomorrow without taking a loss. If we've learned anything from this crisis, we all know that it just doesn't pencil, financially, to buy a home on today's market unless you plan to own the home for at least 7 years (give or take a year or so, depending on how your market has fared in the housing recession).

Many Americans don't want to be tied to one location, given the changes in the job market, because they simply don't want to be stuck in one place, geographically speaking. They want to be free to meet someone via online dating and move if the match sticks. They want the freedom to move across the country or even to the next city or state for a job, if that's the direction their career takes them. The more mobile the person, the less likely they are to buy a home.

Seller Solution: Price your home well - if it's been lagging on the market, make sure you get aggressive and cut the price below a common buyer search cut-off price point (see this post for more details: Sellers: 5 Signs It’s Time to Cut the List Price of Your Home). Even buyers who are seriously in the market, get nervous about buying a home when it seems a bit overpriced, because they fear the price will drop some more in the coming months and years, extending the period of time before they can sell it at a break even or (hope beyond hope) a profit! Don't let overpricing cause you to lose buyers who otherwise would have bitten the bullet, pulled the trigger and hopped off the fence in order to buy your home.

By Tara-Nicholle Nelson | Broker in San Francisco, CA Original Article http://www.trulia.com/blog/taranelson/2010/10/6_reasons_buyers_aren_t_biting_and_what_sellers_can_do_to_change_that

Own home affordable to most

Glen Godlonton — Mon, 01 Nov 2010 21:09:00 GMT

Many people are often surprised to learn that the costs of owning a home can be substantially lower or comparable to those of renting. There are also many financing options and a wide variety of choices that can make owning a home more affordable for first-time buyers.

Before you start searching, it's important to determine how much you can afford to pay. You may learn the modest home you can afford is a far stretch from your "dream home," but it will be a start and will require a lower down payment.

To determine how much you can afford, enlist the services of a Realtor. A Realtor will help you identify what you want and take you to homes and neighbourhoods that reflect your lifestyle, needs and price range. They will also help you understand property financing, taxes, insurance and the steps you will have to take as a first-time buyer to complete a real estate transaction.

The vast majority of homebuyers lack the funds required to buy a home without assistance from a bank or other lender. Most people will need to arrange a mortgage. Before a lender will give you one, they will need to determine the amount you can afford. A lender will look at how much you will need for the initial purchase of your home, including your down payment and other costs such as legal fees, inspection fees and taxes. They will also look at the ongoing costs of paying back the mortgage, along with monthly costs for utilities, maintenance, insurance and annual property taxes.

Most lenders will not permit a borrower to take on a debt load the borrower can't carry. That's why reputable lenders "qualify" potential borrowers. Usually, lenders say your monthly housing expenses (mortgage payment and taxes), plus condominium fee, if applicable, should not exceed 30 per cent of your monthly gross family income. This is called your gross debt service ratio. Lenders also use a second calculation called total debt service ratio.

Generally speaking, no more than 40 per cent of your gross family income can be used when calculating the amount you can afford to pay for mortgage payments and taxes, plus other fixed monthly expenses. These other fixed costs are your ongoing commitments and can include auto, student or personal loans, as well as credit card payments.

The hardest part about buying a home for most first-time buyers is getting that down payment. You may have the ability to keep up with the monthly financial obligation (mortgage payment, insurance, utilities, property taxes, maintenance), but finding the down payment may be a problem. Once you decide what you can afford and find the home you want in the right neighbourhood at the right price, here are some of the sources you can tap into for a down payment.

- Savings and investments: If you have a Registered Retirement Savings Plan, you can withdraw $20,000 per individual ($40,000 per couple) without any tax penalty as long as you pay the amount back within 15 years.

- Mortgage insurance: Until recently, to qualify for a conventional mortgage, a buyer needed to put down in cash at least 25 per cent of the purchase price. But a new law that came into effect last year lowered the level to 20 per cent. To put down less than 20 per cent, a buyer has to qualify for a high-ratio mortgage. By law, this type of mortgage must be insured against default in payment. The cost of this mortgage insurance depends on the value of the house and the size of the loan. Most mortgage insurance companies offer a five per cent down option. This program insures the mortgage on your home against default in payments for up to 95 per cent of the lending value.

Read full article

Five quick tips to reduce energy, save money

Glen Godlonton — Wed, 13 Oct 2010 12:55:00 GMT

With the all the doom-and-gloom news recently over rising electricity costs, I thought I was prepared for the worst when my August hydro bill arrived.

With four sons who fancy long showers, a backyard pool — thankfully without an energy-guzzling heater — and a washing machine that runs night and day, dollar signs practically leap from our Smart Meter.

Don't get me wrong: I'm a strong advocate for conserving energy. I'm always nagging my boys to turn off lights when they leave a room, regularly hang laundry outside to dry and keep the a/c unit set at a modest 23 C on the hottest summer day.

So when I ripped open the bill and saw that I owed $637, I was shocked. In a blink of an eye, my hopes of installing a steamy hot tub next the pool were dashed.

To help homeowners like myself slash their mounting electric bills, the October issue of Consumer Reports Canada offers these quick and practical energy-saving tips:

Program your thermostat. By reducing your energy use at night or when you're not home, you can save up to 20 per cent on yearly heating and cooling bills.

Unplug when not in use. According to the magazine, between "five and 10 per cent of residential electricity goes to devices that draw power when they're off or in standby mode." Time to unplug the video games, kids.

Stop pre-rinsing. Running dirty dishes under the tap before throwing them in the dishwasher wastes close to 30,000 litres of water a year — and that doesn't include the cost of heating the water.

Cold water works. Several laundry soap manufacturers offer cold-wash detergent designed to remove stubborn stains and dirt without having to use scalding hot water. To further reduce costs, switch to off-peak hours and only wash/dry full loads.

Fix leaky ducts. Seal and insulate heating and cooling ducts throughout your house to prevent energy loss. It could save you hundreds of dollars a year.

Read full article

Building towards a cure for cancer

Glen Godlonton — Thu, 02 Sep 2010 16:11:00 GMT

The future for those diagnosed with *** cancer, as well as the home building industry, is about to get a whole lot brighter.

Pinkwood has officially launched the first installation of its fire, mold and moisture resistant flooring products in Calgary.

Homes built with this innovative product are easy to spot, as the home frame stands out in bright Pepto pink. While the colour of the homes proves the protection added to these homes, the colour pink means a lot more to Pinkwood president James Lind.

“The home building industry in Calgary and Alberta has always been a very strong supporter of various charitable activities. We have been fortunate enough to partner with the Canadian *** Cancer Foundation, which is our inspiration for the bright pink colour.”

One cent of each linear foot of Pinkwood product produced will be donated directly to the foundation, which averages about $25 for every home built with the product.

“When this future home owner take possession of this house, he’s not only going to have the piece of mind of knowing that his home is protected from fire, from mold, from fungus, from rot, he’s also going to have the satisfaction of knowing that he contributed towards a worthy cause,” Lind says.

The first Pinkwood home is being built in the community of Chestermere, east of Calgary, by Greenboro Homes. Ryan Armstrong, director of operations with Greenboro, explains that not only are they supporting additional safety, health and security to home owners, but providing lasting support to a worthy cause.

“The difference between Pinkwood and a lot of our charitable donations is this is going to be ingrained in our DNA,” he says.

“We’re constructing homes in this product. You can see this product on our houses forever.”

Tamara Smith was at the official launch on behalf of the Canadian *** Cancer Foundation and received on their behalf a cheque from Pinkwood.

“This is just by far the most innovative and creative partnership that we’ve ever been involved in,” Smith says. “We’re just so honoured that Pinkwood has chosen to partner with us. Clearly it’s a good fit, and it’s such a great opportunity. This partnership definitely brings us a step closer to our goal of a future without *** cancer.”

There’s still more brightness coming up this week. The community of Cranston and Carma Developers will be holding a Summer Hawaiian Luau at Century Hall, the first public summer event since it opened in March 2010.

The event runs from 1 p.m. to 4 p.m. on August 29. Learn to hula, enjoy some Polynesian nosh and have fun in the water park.

Admission is free and open to the public.

Click to read full article

New bank rules will pay off: reports

Glen Godlonton — Thu, 19 Aug 2010 19:44:00 GMT

Kevin Carmichael

Washington — From Wednesday's Globe and Mail Published on Tuesday, Aug. 17, 2010 7:23PM EDT Last updated on Wednesday, Aug. 18, 2010 12:47PM EDT

The longer term benefits of tougher financial regulation significantly outweigh the short-term cost of forcing lenders to hold bigger reserves, the world’s leading financial authorities conclude in two reports meant to counter the darker forecasts of the international banks that are resisting change.

Central banks and regulators accept that financial institutions will pass any increased costs from higher capital standards onto their customers, which would hamper investment for several years. But the tradeoff is the prospect of a future with fewer and less severe banking crises, an intangible that nonetheless more than offsets what likely would be a minor decline in investment.

The research was done by the Basel Committee of central banks and bank supervisors and the Financial Stability Board (FSB), which seeks to co-ordinate the work of international banking authorities. The two reports, which are scheduled for release Wednesday, were obtained by The Globe and Mail.

“The analysis shows that the macroeconomic costs of implementing stronger standards are manageable, especially with appropriate phase-in arrangements, while the longer term benefits t financial stability and more stable economic growth are substantial,” Mario Draghi, chairman of the FSB and governor of the Bank of Italy, said in a statement.

Mr. Draghi’s assessment of the impact of the stricter requirements being pushed by the Group of 20 nations clashes with the international banking industry’s own conclusions.

In June, the Institute of International Finance (IIF) released a report that found the G20’s proposals would reduce gross domestic product in the United States, the euro zone and Japan by three percentage points by 2015, a loss of output that would otherwise create 9.7 million jobs.

The bankers and the regulators use different methodologies, so it is difficult to compare the conflicting research. Around the time of the release of the IIF’s research, finance ministers and central bankers from the G20 said they would give banks more time to adjust to the regulatory changes, a shift that acknowledged the risk that weaker investment posed to the global economic recovery.

For Full Article click here

Calgary's industrial market on road to recovery

Glen Godlonton — Mon, 09 Aug 2010 20:13:00 GMT

The industrial real estate market is showing signs of recovery as the vacancy rate continues to drop and developers are expected to start on new projects as early as the end of this year.

Vacancies decreased for a second consecutive quarter in Calgary’s industrial market as more properties were occupied and the slow pace of new construction continued.

A report by Colliers International in Calgary said the vacancy rate dropped to 5.36 per cent from 5.89 per cent in the second quarter of this year.

“This was driven by three large transactions of 50,000 square feet or more,” said Joe Binfet, managing director of Colliers International.

“While rental rates are holding firm in the tighter large-bay market, rates are softer in the small- and mid-bay market as there are more options available to tenants.”

There has been nearly 1.5 million square feet of positive absorption year-to-date, which has already surpassed the total absorption level from 2009. Absorption is the change in occupied space from one period to the next.

Binfet said developers are still hesitant to start construction on new developments, but he believes this will be short-lived.

“As positive absorption continues to increase and with no new supply coming to the market, rental rates will rise and interest in spec development will return,” said Binfet.

The Colliers report said if a developer commenced construction on a new building today, the earliest it would be available for occupancy is the first quarter of 2011.

“There is only 18,720 square feet of construction underway that is available for occupancy. Look for at least one more quarter of decreasing vacancy, positive absorption and a moderate increase in net rental rates before speculative development commences again,” the report says.

A report by Inducor Real Estate Solutions said the industrial real estate market has significantly fewer properties available for sale or lease now compared with June 2009.

“Leasing demand in the past year has been less than purchase demand, resulting in lower rental years than previous years,” said the report. “From June 2009 to June 2010, net rental rates declined by seven per cent for properties over 50,000 square feet, by 10.3 per cent for those 20,000 to 50,000 square feet and by 9.3 per cent for spaces 5,000 to 20,000 square feet.

“After several years of significant increases, net rental rates have been declining steadily since June 2008. Since then, net rental rates are down by 23 per cent, 20 per cent and 20 per cent in these segments respectively.”

Chris Saunders, managing partner of Inducor, said the consecutive quarters of a declining vacancy rate, a slower pace of decreasing rental rates and sale values, and developers preparing for the next cycle are all indicators of a recovering industrial market.

“The declining vacancy rate is the result of very disciplined developers combined with steady-eddy demand that has been the trademark of our industrial market for the last 15 years or so, even through the recession,” said Saunders. “It was slower demand, but at least there was always a certain level of activity occurring. This steady demand has been chipping away at a consistent supply level so now vacancy is declining.

Click here for more

Rogers discounting iPhone 4 to keep edge

Glen Godlonton — Fri, 30 Jul 2010 18:52:00 GMT

Iain Marlow

Globe and Mail Update Published on Thursday, Jul. 29, 2010 2:22PM EDT Last updated on Thursday, Jul. 29, 2010 5:54PM EDT

In an effort to win the lion's share of Canadians waiting anxiously for the new iPhone 4, which comes out on Friday, Rogers Communications Inc. (RCI.B-T35.930.481.35%)is offering big discounts to its existing iPhone customers.

Unlike when the first iPhone came to Canada, Rogers does not have an exclusivity agreement for the newest version of the wildly popular smart phone: Both BCE Inc. (BCE-T31.50-0.07-0.22%)'s Bell Mobility and Telus Corp. (T-T40.86-0.11-0.27%)will offer service for the iPhone 4, and currently offer the existing iPhone.

In the United States, AT&T Inc. (T-N25.98-0.04-0.15%)is the only provider that Apple currently allows to offer service for the device.

If a Rogers customer bought an iPhone on contract before June 7, 2010, when Apple Inc. announced the iPhone at a developers conference, they can receive up to $480 off the device's full price -- meaning, the cost of the device without a handset subsidy and contract from the wireless company. If a Rogers customer bought their iPhone on a contract between January 1, 2009, and June 7, 2010, they get $250 off the non-subsidized device; if they bought the device on or before December 31st, they get $480 off.

The iPhone 4 is also available on a subsidized three-year contract at Rogers for $159, for the model with 16 gigabytes of memory, and $269 for the 32 GB model. Bell and Telus have not yet released pricing for the iPhone 4, but pricing between Canada's largest three providers, for both devices and data plans, tend to be relatively similar.

As the price of voice calls drops drastically, carriers are looking towards wireless data revenues -- from customers surfing the Web, emailing, and streaming video -- to compensate. Much of Rogers' recent revenue growth has been because of wireless data, a lot of which comes from iPhone users. Late on Thursday, Bell announced that anyone who buys the iPhone 4 with them on a contract will get data plan offering 6 GB per month for the duration of the contract – which can be shared with a iPad for an additional $10 per month. Currently, users are not allowed to split existing data plans between the two devices. Bell offers iPad data plans starting at $15 for 250 megabytes and $35 for 5GB.

When the iPhone first came to Canada, Rogers was the only carrier with a network capable of handling the device and providing a rich user experience. However, in November 2009, Bell and Telus launched an advanced network together that was fully capable of supporting advanced smart phones. Both wireless carriers soon started offering service for the iPhone and have gradually eroded Rogers’ lead in picking up new subscribers, though Rogers still has roughly as many smart phone users as Bell and Telus combined.

For full article click here

RE/MAX Yard Sale for the Cure donations exceed $100,000 in 2010

Glen Godlonton — Mon, 26 Jul 2010 16:29:00 GMT

Kelowna, BC (July 15, 2010) – RE/MAX sales associates and support staff across Canada raised over
$100,000 for the Canadian *** Cancer Foundation on May 29th through Yard Sale for the Cure.
The funds support *** cancer research, health promotions and training fellowships that are
leading to real progress in the fight against *** cancer.
“RE/MAX is wholly committed to the Canadian *** Cancer Foundation’s ultimate goal of creating a
future without *** cancer,” says Marie Sheppy, Senior Coordinator, Corporate Affairs, RE/MAX of
Western Canada. “It’s a goal we’ve taken to heart and one that inspires. That’s why, each year, Yard
Sale for the Cure prompts greater participation and creativity, as each RE/MAX office strives to
surpass the previous year’s goal. The level of enthusiasm is simply remarkable.”
Over 50 RE/MAX offices from coast to coast participated in the annual fundraiser this year. RE/MAX
has raised close to $500,000 through Yard Sale for the Cure nationwide since 2006.
“At RE/MAX, we have a history of getting behind vital causes that make a real difference in the lives
of Canadian families,” says Christine Martysiewicz, Director of Internal and Public Relations, RE/MAX
Ontario‐Atlantic Canada. “We’re proud to take a proactive role in leveraging the resources of our
Canadian network and our position within local communities to save lives. We feel Yard Sale is more
than a fundraiser; it’s a lifeline, and its impact is multi‐faceted. Every time we hold a Yard Sale event,
we’re helping to raise awareness as well as much‐needed funds, and it really brings our people
together in a meaning ful way.”
Yard Sale for the Cure funds the most promising *** cancer research in communities across the
country and raises awareness about *** cancer. RE/MAX has been involved with the Canadian
*** Cancer Foundation since 2004. The company also introduced its exclusive “Sold on a Cure”
program to help raise additional funds for the charity. The program allows participating agents to
make a donation to the Canadian *** Cancer Foundation whenever they help a client buy or sell a
home.
“RE/MAX is leading the way to a future without *** cancer,” says Sandra Palmaro, CEO of the
Canadian *** Cancer Foundation. “The Foundation is so proud to have such a committed partner.
Since 2004, RE/MAX has contributed over $1.2 million to *** cancer research that is making real
change happen.”
Click here for more information

A new tool in addressing Canada’s productivity challenge: carbon pricing

Glen Godlonton — Mon, 12 Jul 2010 15:19:00 GMT

Roger Martin and Alexander Wood

From Friday's Globe and Mail Published on Friday, Jul. 09, 2010 3:00PM EDT Last updated on Friday, Jul. 09, 2010 6:36PM EDT

With Canada having hosted the G8/G20, much needed attention should now be given to a number of challenges facing the Canadian economy in the coming years. The first is our woeful productivity performance, and the second is climate change.

The two will have an impact on our future prosperity, and both are – in ways that are not always well understood – linked.

Although Canada is a signatory to the United Nations Framework Convention on Climate Change, and successive federal governments have announced policy packages designed to address our international commitments on carbon pollution, we have – at least at the national level – never put in place a carbon-pricing policy. This despite the fact that many economists believe that such a policy is the one necessary element of any effort to reduce the carbon emissions that are at the root of climate change.

The explanation for that is quite simple: Pricing carbon translates into higher energy prices, at least from energy sources that are carbon-intensive. And politicians have yet to find the will or the way to call for higher energy prices.

But for those willing to look beyond the painful outcomes that higher energy prices are assumed to bring, what is becoming clearer is that the relationship between carbon pricing, energy prices and the economy is not necessarily a negative or even neutral one. A growing body of evidence is showing that pricing carbon can be good for the economy.

The logic underlying such an argument is fairly straightforward. Carbon pricing can help drive innovation in technologies and business models that promote resource efficiency, particularly in relation to energy. For a country such as Canada, which annually ranks among the most energy-inefficient economies in the world, this presents a huge opportunity. That is because there is an increasingly strong case for how improving resource efficiency translates into improvements in productivity, which is the Holy Grail of competitiveness for economies such as Canada’s.

As Bank of Canada Governor Mark Carney and others have pointed out, the private sector in this country does not typically invest enough in new capital. This means its processes and practices are not always at the leading edge of efficiency and productivity, especially when compared with some of our trade competitors where such investment is the norm (the United States being the prime example). The result has been, in the words of economists at Toronto-Dominion Bank, a record on historical productivity growth that is “appalling.”

With this in mind, we have recently sought to answer three key questions. First, can a carbon-pricing policy support the development of a vital and innovative green technology sector in Canada? Second, can it increase both the employment of Canadians and their productive output? Third, under what conditions is such a scenario likely?

Original Article

Inner-city communities struggle to upgrade rinks

Glen Godlonton — Thu, 28 Jan 2010 02:24:00 GMT

As12,000 young hockey players hit the ice this weekend for the 31st annual Esso Minor Hockey Week, many will be lucky enough to play in the handful of sparkling new arenas recently built around the city.

But many aging inner-city rinks are in need of urgent repairs, including costly new ice plants that are difficult to fund during a recession.

City officials say it may be time to look at bulldozing and rebuilding some of them, as their maintenance costs begin to exceed the amount it would take to build a new one.

Jim Murphy, general manager of the 40-year-old Huntington Hills community rink, admits that funding annual maintenance is a struggle.

Several projects in Huntington Hills are always being left on the back burner, said Murphy.

And while municipal and provincial grants are available, the amounts have to be matched by the community, leaving overall funding always less than what's needed.

"There seems to be more of a trend towards capital establishment of suburban rinks," said Murphy. "And for us, coming up with the funds we need can really be a challenge."

Some maintenance has been done on the Huntington Hills arena's ice plant in recent years, but the rink needs upgraded electrical components, renovated washrooms, change rooms, flooring and new glass around the boards.

Ed Wahl, manager at the Triwood rink in Charleswood, built in 1972, said it, too, is struggling to come up with money for matching grants.

"There may be as much as $275,000 available a year through matching grants, but we usually get less than $50,000."

Wahl said his wish list is long, including upgrades to the ice plant, a new control panel and oil coolers, an upgraded roof and a new ice resurfacing machine.

West Hillhurst, one of the city's older communities, where teams played on outdoor ice in the 1950s until the indoor arena was built in the 1970s, is also looking at a long list of facility maintenance, including roof replacement to improve temperature control.

"It's a struggle for everybody," said Darren Oxbury, executive director with the West Hillhurst Community Association. "There just isn't enough grant money available to get these places in the condition that we'd all like to get them in."

But as they age, demand for innercity rinks grows as children's and adult groups seek ice for hockey, figure skating or ringette.

Murphy stressed that even though they're struggling with upkeep, innercity community rinks provide important services for everyone from seniors to preschool groups.

City officials admit that deciding between funding the construction of a new facility or providing grant money for the maintenance of an aging one can be difficult.

Since a 2006 feasibility study said Calgary needs 10 to 12 new rinks for its growing population, six new arenas have popped up around the city and its surrounding area. They include two sheets at the Edge School in Springbank, two in Cochrane, one at Max Bell and one opening this month at the old Family Leisure Centre, now called the Trico Centre.

With Edge School being built with private funds and the Cochrane rinks paid for by another municipality, the city has only had to invest in two of those six rinks. Max Bell received $11 million in funding while the Trico Centre got $9.5 million.

Still, several more rinks are under construction, thanks to financial help from the city and province.

A new sheet at Centennial Arenas is expected to be complete by 2011 while three new rinks are slated for Canada Olympic Park by the end of 2010, and a fourth will be complete by 2011.

As well, the South Fish Creek Recreation Association is rapidly fundraising for two more arenas to be built within the next three to five years. The city has committed $39 million to help build all of those projects.

"We actually should have enough rinks to meet population projections by 2012," said Shelley Shea, manager of arenas, athletic parks and sports development. "There is a lot coming on stream."

But Shea admitted that not much money has been available for aging inner-city rinks.

A feasibility study to come in front of council by 2011 is expected to outline if the city's recreational needs are being met, and what the future holds for aging rinks.

Since it's getting harder to cover the older rinks' growing maintenance costs, Shea said the city may have to look at knocking down some single rinks and building twin arenas at the same sites. "I don't know of any new money coming their way. There's always a shortage of money for older rinks just because they cost so much more to operate," she said.

Ald. Ric McIver, whose ward includes the new Trico Centre, admitted it can be difficult to prioritize between old and new rinks.

eferguson@theherald.canwest.com

Your Comments

Hockey Yawn

January 23, 2010 - 1:09 PM

Flag this as Inappropriate

Why not only play when it is cold enough outside to do so? This hockey-all-year round scenario is why the CFL is so inferior to NFL, using their castoffs instead of Canadian talent.

PMcRoberts

January 23, 2010 - 10:42 AM

Flag this as Inappropriate

I have a better suggestion... why not have the WHOLE Triwood neighborhood/schools in that area event get together to raise money for the new rink? That goes for each and all neighborhood to pull together to come up with the cash to replace the old rinks.. Wont hurt to look into that.. as it had been done before for playgrounds, etc.

PMcRoberts

January 23, 2010 - 10:42 AM

Flag this as Inappropriate

john brooks

January 23, 2010 - 9:57 AM

Flag this as Inappropriate

Hey maybe they can ask NHL's Bettman to lobby for them too!

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Clean to the Core: a safer inner city, and more

Glen Godlonton — Sun, 10 Jan 2010 23:34:00 GMT

Calgary’s Downtown safety initiative, Clean to the Core, is paying huge dividends according a recent Calgary Police Service report.

At the annual review of the Clean to the Core and Centre City Safety Impact Team (CCSIT) on Nov. 5, it was announced that downtown crime has reduced significantly.

The report shows that from January to August, crime against people in downtown dropped from 655 during the same months in 2008 to 543 in 2009.

"When Clean to the Core was created three years ago, we were experiencing issues around safety and cleanliness in Calgary's Centre City," said Lorna Wallace, Centre City Implementation Project Manager. "Now, thanks to collaboration and the hard work of over 30 dedicated partners, including The City and many businesses, workers and citizens, we're seeing the positive results that only come about when we work together.”

It’s this holistic approach that has lead to a drop in crime in 2009 compared with the previous three years.

“We’ve tried to break down silos and work constantly together with our partners to work toward a greater Centre City, “said Wallace.

Since its inception in 2006, the Clean to the Core program has added 68 downtown beat officers, 29 bylaw officers, 10 Calgary Transit peace officers and 20 EMS personnel at a cost of a bout $4 million annually. These resources coupled with 16 surveillance cameras installed in three downtown locations and improved C-train lighting equates to a price tag of just over $16 million to date.

At the annual review, Mayor Dave Bronconnier told the crowd that the budget will include another million dollars in funding next year.

The Clean to the Core initiative also includes keeping Centre City’s streets clean. In 2009, Tomkins Park Automated Public Toilet has received about 40,000 uses, 727 kilometres of sidewalks have been swept of almost 11,000 kilograms of debris and 50,000 kilograms of newspapers are estimated to be recycled in the core with new paper recycle bins.

Over 10,000 graffiti tags have also been removed (Here is a link to the pilot project).

“The Centre City is a great incubator for new ideas,” said Wallace, using the successful litter and cigarette-butt bins being used in the core as an example.

***Graph shows property crime's drop from Sept. 2008 to Aug. 2009 compared to the previous three-year average. Social Disorder and Person crime also trend downward.

Original Article

New centre fills inner city medical care gap

Glen Godlonton — Sun, 10 Jan 2010 23:30:00 GMT

Calgary’s inner city community got a healthy shot in the arm last week with the opening of the new Sheldon M. Chumir Health Centre in the Beltline.

Located between 12th Ave. and Fourth St. S.W., the centre will provide a variety of community-based programs and clinics that will serve those who work, visit and live downtown.

The Calgary Health Region’s brand new 300,000 sq. ft., eight-storey facility will take over where the previous downtown health centre on Eighth and Eighth left off when it closed its doors at the end of March.

“We’re very excited about the opportunities this new health centre will provide to the downtown and inner city population,” said Thelma Inkson, vice president of the Calgary Health Region (CHR). “By consolidating a number of services into this location, health care providers are better able to work together to diagnose and treat patients and better serve the needs of the community.”

Urgent care is one of the first services to open at the centre, which will be available 24 hours a day, every day of the year. Urgent care is for adults and children experiencing unexpected health concerns that are non-life threatening but require same day treatment, including fractures and sprains, lacerations, asthma, mental health crisis, dehydration, pain and infection.

“Urgent care at the Eighth and Eighth Health Centre was the first of its kind in all of Canada,” said Rob Abernethy, vice president and associate chief medical officer for the CHR. “We are building on its success with the opening of the Sheldon M. Chumir Health Centre and we’re very excited because this is in direct response to the health care needs of a growing, vibrant downtown.”

Other services offered at the centre include diagnostic imaging services like x-ray, CT scans and MRI scans, Calgary Laboratory Services, the Southern Alberta HIV Clinic and Safeworks, the City of Calgary’s program to fight sexually transmitted disease. Additional services will continue to open throughout the year.

Construction will be split up into four phases and will include the opening of several services such as a mental health mobile response team, a sexual assault response team, a dental clinic and an adult aboriginal mental health program.

The Alberta government provided $82 million in 2005 to fund the construction of the centre and is built on the site of the Colonel Belcher Hospital which opened on June 7, 1919 to care for veterans of World War I.

The historical significance of the centre, which has provided health care services to Calgarians for almost a century, has not been lost in the new project.

Sixty pallets of the red brick from the old Colonel Belcher facility were salvaged for use in the Sheldon M. Chumir Centre. The brick will be embedded into the on-site walkways to serve as a reminder for the former centre.

The centre is named after Sheldon Chumir, a former member of the board of directors for the CHR.

Chumir served the community in many ways and was also a Liberal MLA for Calgary-Buffalo, a noted philanthropist, a tax lawyer, a university lecturer and a businessman. He was also a Rhodes Scholar and strong supporter of the Calgary Beltline area.

In fact, he grew up only eight blocks away from the building that bears his name. Chumir died in 1992.

“Sheldon was a genuine, caring person who worked very hard to help those who were unable able to help themselves,” said N.D. “Skip” MacDonald, a CHR board member. “He was a strong advocate for the less fortunate in life. A lot of the health services that will be offered at the health centre are for these people so this is a fitting tribute to Sheldon’s memory.”

—Dan Leahul is the Resident Reporter for the Calgary Real Estate News

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Townhouse For Sale in Forest Heights

Glen Godlonton — Thu, 04 Jun 2009 19:32:00 GMT

Affordable 2 storey 3 bedroom home

• 1,076 sq. ft., 1 bath, 3 bdrm townhouse - MLS® $195,000

Forest Heights, Calgary - ** WOW ** AFFORDABLE**, 2 Story 3 Bedroom, Family home, townhouse style with NO CONDO FEES. This home has being loving maintained and upgraded over the years. This home is ideal for the FIRST TIME HOME BUYER This large CORNER lot is FULLY FENCED, with off street parking for 2 cars. Close to Transportation, Schools, and Shopping on a quiet CULL-DE-SAC Developed Basement, NEW DECK, 2 STORAGE SHEDS, & Portable Garage, are all included. Move in and enjoy IDEAL FOR YOUR FAMILY. ** INVESTORS ** This will easily cash flow, should rent for at least $1300 min. AND NO CONDO FEES,, with today's INTEREST RATES you can't go wrong Nothing to do just move in your tenants, and start collecting the rent.

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Alberta inflation takes breather at 2.1 per cent

Glen Godlonton — Mon, 22 Dec 2008 01:04:00 GMT

A break in gasoline prices and a few deals at the mall drove inflation down in Alberta again in November, with consumer prices inching up 2.1 per cent from a year ago.

While deals were sure to be had at the gas pump, where prices were down 12.4 per cent, consumers did have to dig a lot deeper for necessities such as fresh fruits and vegetables, natural gas and shelter costs.

ATB Financial senior economist Todd Hirsch attributed the price jump in fruits and veggies in part to a weaker Canadian dollar.

However, he noted November's overall inflation rate is a continuation of a downward slide that started in June, when inflation in Alberta was 4.4 per cent.

"Alberta's inflation figures are being swept lower by falling commodity prices, especially crude oil and gasoline, but also by softer consumer demand," he said.

Still, Canada's inflation was two per cent in November, the first time in two months that Alberta's inflation edged higher than the nation's.

Released Friday, Statistics Canada's Consumer Price Index for November showed that the price of food in Alberta was up 7.3 per cent on a year-over-year basis, led by a 29 per cent jump in fresh vegetables and an 18.8 per cent jump in fresh fruit.

The price of cereal puffed up 15.2 per cent, and meat, excluding poultry, rang in 12.6 per cent higher. Natural gas rose 6.4 per cent. Shelter costs were also up, 4.3 per cent.

Calgary saw a 2.4 per cent rise in consumer prices in November on a year-over-year basis, while Edmonton had 2.2 per cent.

Yellowknife was the highest at 4.7 per cent, and Saint John, N. B., the lowest, at 0.7 per cent.

Regionally, still-booming Saskatchewan experienced the greatest price pressure with the annualized

rate rising to 3.2 per cent. Last week, the Bank of Canada cut its trendsetting lending rate by 75 basis points to 1.5 per cent in an effort to stimulate the economy.

"Overall, this somewhat complicates the Bank of Canada's outlook, as by our calculations it seems as though core CPI could remain above the two per cent level for several months to come," said Charmaine Buskas, economics strategist at TD Securities.

"That said, the bank is still going to focus on alleviating the strains on the economy due to the global economic recession and ongoing turmoil in the credit markets," she added.

Gina Teel, Calgary Herald; With Files From CanWest News Service;

Published: Saturday, December 20, 2008

http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=3f43f4a6-1268-4633-ad74-c6abd84f5450

Stars 'lining up' for regional transit network

Glen Godlonton — Mon, 22 Dec 2008 00:58:00 GMT

Rebuilding Canada: Can Our Crumbling Cities Save The Economy?

Each morning, Mike Rogers catches a bus at a stop four doors from his house.

Mike Rogers takes a Southland transport bus daily from Okotoks to downtown Calgary, paying $240 a month for the service.

The Okotoks resident takes his seat at the back--often dozing for a catnap--until he is dropped off an hour later in downtown Calgary.

"I pay a pretty huge premium," he says of the $240-a-month fee, "but it's worth it."

The daily service, operated by local charter bus companies, is offered in several communities surrounding Calgary, including Okotoks, Cochrane, Chestermere and Airdrie.

Not only is it convenient for the hundreds of commuters who use the service, it also relieves the pressure on Calgary's congested roadways and crowded C-Train cars.

With thousands of residents from outlying centres using Calgary's roads or transit every day, some municipal officials suggest bedroom communities should contribute toward the city's growing infrastructure costs.

"Calgary already picks up a disproportionate share -- for example, 12 to 15 per cent of our transit users live outside the City of Calgary,"Mayor Dave Bronconnier has said. "That is being picked up by Calgary taxpayers."

This summer, the provincial government announced a$2-billion public transit fund focused on regional co-operation.

The plan will be aimed at building public transit infrastructure, including projects such as buying new buses and trains, building regional transit and buying land for rail corridors.

Calgary city council will ask the province to pay for the $2-billion southeast leg of the LRT through the new fund, and hopes to improve its chances of getting funding by including commuter buses to neighbouring towns in the plan.

Unlike the private buses that Rogers catches each weekday, these ones would be publicly funded and seamlessly connect the bedroom communities directly to the nearest Calgary transit station.

Once there is a large enough population, the buses could be replaced by a passenger rail service connecting Calgary with Cochrane, Airdrie, Okotoks, Strathmore and potentially even Canmore.

Rick Butler, executive director with the Calgary Regional Partnership, which represents local communities, says the provincial money could go a long way to improving transportation in the region.

"The stars are lining up,"Butler says, noting the group had just received a $500,000 grant to explore new transit options when the provincial government announced the$ 2 billion for regional transportation networks.

The partnership, made up of 18 communities and one First Nation in the region, is also looking at water usage and land-use planning in southern Alberta.

Even companies running the existing private bus service between Calgary and several bedroom centres see a rapid transit commuter system as a good first step.

"Any time you put buses on the roads and take cars off the road, it's a good thing for everybody," says Tom Jerersek, general manager of Southland Transportation, which runs the commuter service from Cochrane and Okotoks.

Rogers, however, begs to differ.

He worries that any attempts to integrate such services will leave more passengers stuck in already crowded C-trains and transit buses.

"It would become too convenient," Rogers says. "It will get overused. More people would start to use it.

"The fear is that a rail system would probably increase the amount of people in Okotoks."

Colette Derworiz, Calgary Herald

Published: Friday, December 19, 2008

http://www.canada.com/calgaryherald/news/story.html?id=6a4e0f33-a486-46d1-a7db-0c2761e551f8

Rental market feels economic pinch

Glen Godlonton — Mon, 22 Dec 2008 00:54:00 GMT

Headlines continue to inform us rather harshly that housing sales are down. According to Canadian Real Estate Association figures, Alberta experienced a year-over-year decline in MLS sales of almost 35 per cent, while prices dropped by 4.2 per cent to $338,354. And new construction is also drastically down.

That means a big increase in the number of people renting accommodation.

Bob Dhillon, president and CEO of Calgary-based Mainstreet Equities has a good handle on the rental market--his company owns more than 5,600 units across Canada; 1,300 of those in Calgary and 1,800 in Edmonton.

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Dhillon says that sector has been particularly strong over the last quarter but yet has been far outweighed by foreign contract workers.

The majority of his new renters are from Mexico and the Philippines; they find it easier to rent for the time they are working in Canada. He has 17 men from the Philippines working for his own company, which includes a construction division.

Mainstreet specializes in purchasing apartment blocks and upgrading to today's high environmental standards.

Although he owns units from the coast to Ontario, Dhillon says he is concentrating on the Alberta market, where he finds a good amount of rental stock for sale.

His latest acquisition is a 48-suite block in Cochrane--one of Canada's fastest growing cities.

Cash position is excellent and Mainstreet is taking advantage of the decrease in share value to buy back its shares for $6.25 (they currently sit at $5.83).

City Search caters more to the executive renter and it also reports a thriving business.

Canada Mortgage and Housing Corp. says that Calgary is the most expensive city in Canada for rental properties. Our average is $1,148 per month for a two-bedroom apartment (the same apartment would be $1,095 in Toronto).

But that figure is low according to the type of accommodation that City Search leases and manages.

It does have condos in the $1,200 to $2,000 range, but most of its properties are in the west downtown and Eau Claire districts, which fetch quite a bit higher.

Most newer condos in those areas can ask between $1.75 to $1.90 per square foot, which is down about 30 cents from last year. Furnished units rent for around $2.50 per square foot but in today's market, there is a fair amount of negotiating going on.

Armelle Kilpatrick, associate/vice-president property management, says most of its clients are executives and engineers on contract to Calgary companies, generally for two to three years. She says employers today encourage contract workers to rent rather than buy, which avoids having to help sell homes should they want to relocate them to another area.

Many come from the U. K., France and India, and those from the U. S. are happy to rent instead of trying to sell their homes back in the States during this depressed time.

The company currently has around 250 condos, town houses and houses in its portfolio, with most of the single family homes being in the Mount Royal, Rideau/Roxboro, Britannia and Elbow Valley communities.

Its 15 homes in the Mount Royal area are rented out for monthly costs of between $6,000 to $8,500 unfurnished, but partially furnished houses realize from$8,500 to $12,000.

Kilpatrick says people owning property in the more exclusive areas of Calgary are shying away from selling right now, so using an agency like City Search to lease, collect rent and manage makes such good sense. [ Sponsor Content ]

But to get down to our average of $1,148, there must be many apartments, duplexes and houses available for a lot less and a quick check with the Herald's classified section shows a number of suites available for way under that mark.

Within walking distance to the downtown office core you can find several in the $750 to $1,000 range and even homes in outlying districts for around the city average.

David Parker, Calgary Herald

Published: Saturday, December 20, 2008

http://www.canada.com/calgaryherald/news/lifeathome/story.html?id=c6fc35da-8a85-491f-975d-998389a8f1a7