My Edmonton Home Staging Blog

I like to keep an eye on local reports and share them with you, to keep you informed on market conditions. If you ever want to add something to this, feel free to contact me on (780) 266-0850 or e-mail me at michellem@edmontonproperties.com.

Edmonton Home Staging Blog - Monday, July 26th, 2010 - Rising Interest Impacting Housing Markets

Seventy per cent of housing markets across Canada showed a drop in housing resales, according to the Canadian Real Estate Association’s report. Calgary and Toronto both showed the largest declines, and on a seasonally-adjusted basis, national sales dropped 8.2 per cent since June.

The market is slowing, making sales challenging for sellers and giving buyers more thinking time as their rush for homes declines.
Edmonton inventory is near record levels of September 2007 with numbers reaching 9,406 properties for sale. Sales dropped 8.5 per cent from May 2010 and 37.1 per cent since June 2009.

In spite of year-to-date sales that are up by 13.6 per cent, national second quarter activity is down 2.8 per cent and national market sales are down 13.3 per cent from the first quarter.

New home listings in June dropped 6.8 per cent from May and sales were down 19.7 per cent year-over-year in June.

Chief economist of CREA, Gregory Klump, said affordability and sales will continue to fall this year as interest rates continue to rise.

According to CREA, sales prices across Canada increased only 4.9 per cent over last year to $342,662.

Currently, the estimated amount of time it takes for a house to sell at the rate of activity is 5.7 months, up from 4.2 months in June 2009.

Edmonton Home Staging Blog - Thursday, July 8th, 2010 - Edmonton Home Real Estate Market Prices Starting to Cool

Edmonton’s real estate market appears to be headed for a slowdown in the latter half of 2010. Predictions are that prices for single family homes will take a slight dip. The other factor is that there were 9,406 properties listed for sale at the end of this past June, which is close to the 9,913 that were on the books in September of 2007. That was just before the economy, and the market, tanked. Realtors like to see the number of listings in the 6,000 range because that signals a more balanced market.

All of these available homes have created a lopsided, buyers market. Those on the hunt have the advantage of bargaining for the best price on homes they are interested in. Sales have already slowed a bit, thanks to the increase in mortgage rates and tougher mortgage qualifying rules. The current global economy situation, though not felt as much in Canada, does have a dampening effect on consumer confidence and sales.

During the first half of 2010, single family home prices increased by 7.5 percent. How much of that gain will be whittled away is uncertain, but the Realtors Association of Edmonton is still predicting a five percent gain for the year. The Edmonton housing market normally sees a rise in prices during the first part of a calendar year with a slowdown after that. Whether this is just the norm for the area, or the slowdown is being amplified by outside factors remains to be seen.

Edmonton Home Staging Blog - Wednesday, June 30th, 2010 - Move Over Pacific Avenue, Here Comes Edmonton

Canadians will soon have their own Monopoly cities to roll the dice and build hotels on. Hasbro Canada has just announced the cities that won a spot on the Canadian version of the game and Edmonton is taking the green space allotted to Pacific Avenue on the traditional version.

Mayor Stephen Mandel thinks it is appropriate for Edmonton to get a green spot since it has so many environmental projects going. In reality the spaces were selected according to how many votes each city received. Top spots went to Chatham-Kent, Ontario and Saint-Jean-sur-Richelieu. Edmonton got the second most expensive real estate on the Monopoly board.

David Iermini from Santa Cruz thinks Edmonton has the best spot. Pacific Avenue in Santa Cruz, California is near the Santa Cruz Boardwalk and a very popular beach. This central California town also has a reputation for being a bit “funky” and the students from the nearby university do their best to preserve that image. In some respects, it is a bit like time traveling back to the 1960s, sort of a Berkeley south. Edmonton is very much a university town as well. It also has its trendy Whyte Avenue to provide the “funk.”

Edmonton Home Staging Blog - Friday, June 11th, 2010 - Valley Zoo Will Create Arctic Habitat for Fall 2011

In the fall of 2011, Edmonton Valley Zoo will open a new expansion that the zoo hopes will help transform the 51-year-old facility.

Polar Extremes Phase One: Arctic Shores will be located on the west side of the zoo’s entrance and will house the current seals and sea lion. The exhibit will recreate the Arctic shoreline and landscapes and have an aquatic environment for the animals.

The attraction will cost $16.7 million, with $7 million coming from the Alberta government’s Municipal Sustainability Initiative.

Councillor Jane Batty said the exhibit will give visitors more opportunities to connect with nature, get closer to animals and learn how to conserve the planet. Minister of Municipal Affairs, Hector Goudrea, said he is pleased with the province’s support as it will bring the community together, a government priority.

The following phase is planned to begin in 2011 and will include a new otter habitat, an entry plaza, an education centre and a trail named The Wander which will display the North Saskatchewan River ecosystems. The project is supported by the City of Edmonton which will contribute $35 million.

Long term, the zoo is planning to redevelop the Storyland portion into a new family area, and the Valley Zoo Development Society will begin a campaign to help fund a new project called Nature’s Wild Backyard.

That exhibit will encourage children to learn through play by pretending they’re zookeepers and vets, and will allow them to get close with animals like frogs and turtles.

Edmonton Home Staging Blog - Wednesday, June 9th, 2010 - Historic Jasper Building Gets a Glass Facelift From Innovative Builder

A historic Jasper Avenue property is being saved from the wrecking ball. Rather than demolish the Empire Marble & Tile Co. building, it is being covered with a layer of glass that will preserve the façade. Though listed on Edmonton’s list of historic resources that do warrant conservation, it is not legally protected. But the Redleaf Enterprises Company decided to reinvent rather than rebuild. Not all of the vintage building could be salvaged. One wall was in such poor condition that it had to be taken down.

Expected to be finished by late in 2010, the developers are using special light fixtures imported from China to highlight the façade and historic tiles that have been sheltered under glass. The building will serve as a presentation and information service centre for Redleaf, which is in the process of planning a number of downtown high-rise apartment buildings.

Redleaf has spent more than $1 million on the preservation of the building, even though the permit they hold for the presentation centre is only valid for five years. Eventually, Redleaf plans to put a condo tower on the property. The company will try to incorporate the façade into the condo structure, but doesn’t know if that will be possible.

Edmonton Home Staging Blog - Thursday, June 3rd, 2010 - Bank Increases Interest Rate but Trading on Stock Market Declines

Toronto’s stock market shifted into low gear to begin June. Trading was significantly lower June 1 due primarily to a report indicating a slowing in manufacturing in China. The market was also hampered by lingering concerns about the overall European economy.

The composite S&P/TSX index fell 191.02 points to a level of 11,571.97. The TSX Venture Exchange saw a decrease of 25.32 points, closing at 1,488.75.

As expected, the Bank of Canada increased its key rate of interest one-quarter point, making it 0.5 percent. In spite of the rate hike, the Canadian dollar experienced a fall of 0.95 of one cent to 94.88 cents against the US dollar. A spokesperson for the central bank reported that economic conditions around the world continue to be uncertain and global growth is still not as balanced as it should be. According to Sal Guatieri, a BMO Capital Markets senior economist, the Bank of Canada is trying to remain open on its policy options, and will exercise deliberation in increasing interest rates.

Among the relatively few strong performers on the TSX is Scotiabank. It recorded record profits of almost $1.1 billion, or $1.02 per share. The stock outperformed estimates of roughly 93 cents a share.

However, other financial institutions had less than stellar news. Royal Bank’s stock, at $54.20 decreased 92 cents. At $70.75 per share, TD Bank’s stock declined by $1.

Concerns continue to exist regarding China’s manufacturing status. According to the China Federation of Logistics and Purchasing, the nation’s purchasing manager index dropped to 53.9 in May, versus 55.7 and 55.1 in April and March, respectively.

Edmonton Home Staging Blog - Thursday, May 20th, 2010 - City Centre Airport Land To Become Environmentally Friendly Neighbourhood

There is a contest afoot for the right to redevelop the land that is still home to Edmonton’s City Centre Airport. The airport is scheduled to be phased out over the next decade, starting with one of the runways this August. That leaves 217 hectares of prime real estate that could be developed into a new community for up to 30,000 people.

The first part of the design competition requires prospective firms to come up with environmentally friendly development ideas and prove that they have the qualifications and track record needed to implement their plans. Out of the submissions, five finalists will be chosen by Edmonton’s mayor, Stephen Mandel, with the assistance of a group of development and environmental experts. July 15th is the target date for this decision.

Some of the features the Mayor hopes to see in the proposals are higher density multi-family structures, smaller yards, narrow streets and limited parking which would encourage residents to turn to public transport. The area will have an LRT station which makes such a concept feasible.

The project would be done in phases and it is possible that construction could start as early as 2012. How fast development progresses, and how soon the City Centre Airport closes its doors for good, will depend on market demand.

Edmonton Home Staging Blog - Wednesday, May 12th, 2010 - Edmonton Sees Large Drop in Building Permits

Once believed to be back to a healthy pace, the value of building permits for Edmonton suddenly slowed to a crawl in March. Just a month following levels that were higher than anywhere else in Canada, March saw one of the biggest declines ever, according to Statistics Canada.

Permits for construction in the metro area were down by 34.4 percent in March versus February and decreased by 12.6 percent over a year ago, due to fewer residential building projects reaching permit status. However, the number of building permits in Calgary skyrocketed by 44.7 percent, concurrent with the planning of more industrial and institutional facilities. Building permits for Alberta remained approximately the same in March as in February, coming in slightly ahead of the $1 billion mark, yet this figure was ahead by 40 percent versus March 2009. Permits for non-residential construction grew by 27.3 percent, but permits for residences declined by 12.4 percent versus February.

Building permit values throughout Canada grew somewhat ahead of projections in March, with rises in both the industrial and multi-family housing segments. This increase occurred after four consecutive decreases in as many months. The overall Canadian value figure of $6.3 billion increased by 12.2 percent over February, and by 38.9 percent versus a year ago. Permits for home construction grew by 13.9 percent to a total of $4.2 billion. This increase was driven by permits for multi-family housing mostly in British Columbia and Ontario. Permits for non-residential construction rose by 9.1 percent, to a value of $2.1 billion.

According to Dan Summer, a financial economist at ATB, permits for residential construction in Edmonton since last August reached a high not seen since the boom years of 2006-2007. He advised that if the drop in permits witnessed in March is an indication of the future, there would be a cutback in construction of residences. Summer also noted that interest rates, once at all-time lows but now on the rise, might slow the demand for new-construction housing.

Edmonton Home Staging Blog - Tuesday, May 4th, 2010 - Smart Realtors Use LRT As A Very Big Carrot For Future Homeowners

A brand spanking new condo is a big draw. Put a LRT (Light Rail Train) station on its door step and you might just have a stampede of interested buyers wanting to check out that new bit of real estate. Smart real estate agents have figured out that sales equation and are marketing their listings by showcasing the availability of public transit to potential homeowners.

Could it be that public transit is enjoying a Renaissance of sorts in Edmonton? Perhaps. The new Century Park LRT station is the newest link in the city’s light rail system and the first one to venture so far into the suburbs. The new Century Park Club and Residences development is the line’s destination and one of the newest residential areas in the city that is just beginning to blossom.

Currently Century Park has four buildings with 400 units in the Blue Quill condominium complex. Eventually the development is expected to have 19 buildings holding roughly 2,500 homes, all made possible, and more desirable, by the LRT expansion. The line gives people a way to get downtown without worrying about parking, waiting for buses and in a shorter amount of time. This is particularly appealing during the winter months when those parking spaces not covered with leavings from the snowplows are few and far between.

More Edmontonians are becoming enlightened about the advantages of public transit. Building new developments within easy walking distance of LRT stations not only makes those future homes more desirable, but helps the citizenry have a positive impact on the environment. Edmonton is going green, one LRT passenger at a time.

Edmonton Home Staging Blog - Monday, April 26, 2010 - Edmonton Homes Hold Their Value, Assessed Higher Tax Rates

Tax bills will be going out shortly to Edmonton homeowners. The average single family home will see a tax rise of roughly $149 this year which is about 6.5 percent higher than in 2009. Real estate prices were down when the assessment was done this past July but homes held their value better than apartments or condos.

The cost of an average Edmonton home did decrease for the second straight year, coming in at about $330,000, ten percent less than during the last assessment. Apartment and condo prices dropped by 12 percent. This is the exact opposite of the prior year when apartment owners paid higher taxes than the single family homeowners, who averaged a $16 tax raise.

The tax raise takes into account how much a property’s value has dropped. Those homes that held onto more of their value will see more of a tax increase. Taking all residential types of housing into account, the average tax raise works out to be 4.9 percent, which is just a hair below the 5 percent approved this past December for the 2010 budget.

Edmonton is expected to collect $853 million in taxes this year to keep the city up and running. Tax bills will be mailed May 21st with payment due by the end of June.

Edmonton Home Staging Blog - Monday, April 5, 2010 - Edmonton has second highest vacancy rates

Vacancy rates in local commercial real estate are rising, according to a recently released industry report. The first quarter of 2010 saw a rise from 6.5 percent to 10.6 percent in the year-over-year vacancy rate, making Edmonton the city with the second highest vacancy rates in Canada, second only to Calgary.

Analysts believe, however, that the long-term outlook for the commercial real estate market in Edmonton is good. The market will continue to grow as the oil and gas industry recovers from the recent economic woes. And while vacancy rates will probably continue to increase, Edmonton will probably fare better than Calgary.

Meantime, it is a good time to be a tenant in a downtown commercial property. Ian Bradley, executive vice-president of Colliers International, a commercial real estate firm, reported an average vacancy rate of 7.45 in the first quarter of 2010, compared to an average of 3.83 percent in 2007. Bradley commented increased competition in the commercial real estate market is forcing landlords to devise new ways to find and retain tenants. Strategies include higher improvement allowances, more attractive terms and extended rent-free periods. Although rents are down 15 to 20 percent, they still remain much higher than five years ago.

Figures from commercial real estate markets in other Canadian cities reflect similar trends. National vacancy rates increased to 10.1 percent, up from 7.5 percent year-over-year. There are signs, however, that the worst is over.

Edmonton Home Staging Blog - Friday, March 26, 2010 - Given Some Edmonton Homes A Much Needed Facelift

Being in Canada for nearly two years has given Colin McAllister and Justin Ryan a feel for Canadian style. The decorating duo, originating from Scotland, has temporarily finished their 52-episode run of Home Heist and is working on their next project: encouraging Canadians to document their tacky rooms. In fact, “the tackier the better,” they say.

Regardless of the type of room—bedrooms, kitchens, bathrooms, dens—McAllister and Ryan want homeowners to bring their photos to the Edmonton Home and Garden Show where the pair will be headlining.

The photos will be used as ammunition for McAllister and Ryan to convince producers to expand Home Heist to Edmonton or Calgary, and homeowners will have the opportunity to ask for tips and advice.

McAllister and Ryan recently launched a 10-piece bedding line available at Zellers which includes a comforter, sheets, shams and coordinating decorative pillows, but they’re still focused on their grand Canadian plan. And that plan does not include bad design.

“Everyone should have a great home,” says McAllister, “We’re all about making ordinary homes extraordinary.”

The Edmonton Home and Garden Show will be at the Edmonton Expo Centre March 25 to 28. McAllister and Ryan will make appearances Friday and Saturday at 2 p.m. and 7 p.m.

Edmonton Home Staging Blog - Friday, March 19, 2010 - Province Allocates $12 million for Permanent Housing for Homeless

Formerly a homeless alcoholic Craig Robinson has been sober for the past seven months and is employed as a scaffolder and lives in an apartment provided by Mustard Seed. The organization provides housing for homeless as well as support services for homeless people.

Mustard Seed has just received a $12 million infusion of cash to construct an additional 112 apartment units for people like Robinson. The money, according to Premier Ed Stelmach, will be derived from $100 million designated to cover costs affiliated with the province’s goal to end the existence of homelessness by 2019.

This news arrives two months after the announcement from the province that the Hope Mission received $7.3 million to construct 52 apartments. The remaining money in the budget, some $80 million, will be disbursed among comparable projects throughout 2010.

Stelmach said he was pleased with results from the enactment of the province’s plan to end homelessness within ten years. The plan was adopted on March 16 of last year. Since that time, Stelmach advised that more than 1,300 homeless people have found permanent housing. That number includes 500 Edmontonians. A commitment has been made by the province to construct at least 930 home units with $100 million.

Stelmach also said that homeless shelters are serving fewer people throughout the province. In December 2008, the average Edmonton shelter housed 700 people on any given night. A year later, the number decreased to 623, representing an eleven-percent reduction. He also noted that when the ten-year plan is fully put into action, homeless people would be given permanent housing plus wraparound support service within 21 days of presenting at a given homeless shelter.

Edmonton Home Staging Blog - Thursday, March 11, 2010 - Your Space is Your Home and Your Home is Your Castle, Enjoy It

Is your home your castle?  No matter where it is or how many square feet you call home, you can use clever decorating techniques to get the most out of the space you have and with stylish results.

The trend towards open concept designs, those with the living room, dining room and kitchen all part of one big space, can make even the smallest condo seem larger, but decorating has its challenges.  The important thing is to figure out how to effectively divide the space.  This can be done with a simple change in colour, a well placed book case, a handsomely decorated folding screen and different textures.

Pick just a few colours and then just mix and match them enough to create a certain harmony.  For example, pick some bright and bold pillows for the sofa and have the same bright colours accent your dining area.  Or use soft, comforting fabrics in that same living room and go modern with chrome or hardwood accents in a bold notice me kitchen. 

Painting the walls all one colour works well when combined with the above techniques.  It is not always feasible to paint each section of a room a different colour.  It’s hard to know where to put the lines and besides, you may want to mix things up later on and you would have to repaint. Versatility is the key.

Colour trends for 2010 tend to be neutrals, with shades of gray, blues and whites as a base and anything goes for accent shades.  Mixing and matching furniture styles is also a trendy thing to do, like putting a butcher block table in the dining area and a brightly upholstered pseudo modern chair in the living area. With the right accents even these unlikely room mates can find harmony.

Edmonton Home Staging Blog - Tuesday, March 2, 2010 - Extraordinary Fundraiser Brings Shriners Circus to Edmonton

Fundraising came naturally to charity campaign master Barry Gogal.  When his grade school was unable to pay for its sports teams’ travel and uniforms, Gogal raised money with raffles, selling woodwork-shop items and initiating bottle collections.  Gogal grew up on a farm, and traveled by bus to schools in Big Valley as well as Stettler.

Following his studies at NAIT, he became a surveyor and later a real estate agent for both commercial and residential properties. In 1975, when he was 25, he formed his own company, the Western Realty Group.  

Gogal is now responsible for bringing a wealth of animals and performers to Edmonton for the all-Canada Shrine Circus.  The event will be in town from March 12 through 14.  This is not the first time Gogal has led a major fundraising event.  Many years ago, he participated in the committee to develop the Shaw Conference Centre.  He, along with auctioneer and emcee Danny Hooper, developed dinner-and-auction fundraisers for Ducks Unlimited, as well as Edmonton’s Downtown Rotary Club.  Gogal was the man behind all the motor homes, boats and trucks for sold for the Rotary Club’s Klondike Days Raffle.  He performed this task for 13 years.

Art Jones, a good friend of Gogal’s convinced him to become a Shriner in 1993.  By 1998, Gogal organized the Valentine’s gala for the Al Shamal Shriners, and the event has completed its 13th year in existence.  Among the popular items for the fundraiser is a “cash calendar,” which delivers a daily prize 365 days a year.

Gogal noted that the Shrine has helped numerous charities since it was founded in 1872.  The group founded its particular charity, the Shriners Hospitals for Children, in 1920.  The Shriners currently operate 18 hospitals for orthopedics, three for burn patients and one hospital offering care for spinal cord injuries, as well as orthopedic and burn patients. 

Edmonton Home Staging Blog - Wednesday, February 24, 2010 - Edmonton RV Show’s Minimalist Campers Generate New Buyers

The 2008 economic crisis forced a number of recreational-vehicle manufacturers and retailers out of business.  However, an air of optimism seemed to pervade Edmonton’s 30th annual RV Show and Sale.  Buyers flooded the floor of the show, which opened February 11, and the first vehicles were sold during the first few minutes.  

Longtime show participants said that this year’s opening represented the healthiest they had seen in a long time.  Roadmaster RV Manager Don Humphrey reported that this year’s opening night was the busiest he had witnessed in 30 years of coming to the show.  He estimated that recreational vehicles were selling at a rate of at least double that of 2009, believing that people are finally making long put-off purchases.

The RV show filled the large halls of the recently enlarged Edmonton Expo Centre.  Many new vehicles captured the attention of attendees.  Noteworthy features such as outdoor kitchens were especially attractive to visitors.  After many years of producing aggressively upscale vehicles, some manufacturers have launched more basic models at lower price points.  These tents and travel trailers are designed to bring the experience of being outdoors back into the RV experience.  

An example of the more minimal approach is a tent trailer from Carefree Coach and RV.  The Quicksilver model comes in a variety of lengths, from nine to 21 feet.  Also in the Quicksilver line are truck campers in tent style to easily fold down during travel.  This line is manufactured by Livin Lite, and are made of aluminum.  

Livin Lite’s founder, Scott Tuttle, said that in his reviews of current pop-up tents, he was unable to find any that could feasibly be towed by cars or station wagons.  He decided to construct such a vehicle that could be towed by most of today’s cars and vans.

Edmonton Home Staging Blog - Wednesday, February 17, 2010 - $4 Billion Upgrader Proposed for Redwater Area

A joint venture between the government and oilsands titan Canadian Natural Resources could result in the creation of almost 3,000 jobs during the construction of a bitumen upgrader.  The project is estimated to cost $4 billion.  The upgrader would be in the Edmonton area at the North West Upgrading site.  According to Ian MacGregor, North West chairman, the venture would keep several thousand construction workers busy in the job’s three phases.  He said that the project is almost ready to be initiated, noting that piles could be sunk as early as this fall.  Significant work would begin next year, and the upgrader would be open in 2013.

Sturgeon County mayor Don Rigney said that the upgrader would provide a huge boost for Alberta’s Industrial Heartland.  He expressed excitement over the creation of long-duration jobs, as well as the addition of billions in funds to Alberta.  Sturgeon County, which is currently mostly agricultural in its workforce composition, would benefit greatly from the addition of an industrial installation, per Rigney.  He said that many of the potential employees and construction goods would come from Edmonton.

Many companies have submitted competitive bids.  Although a number of proposals were received by Alberta Energy, a company spokesman reported that a final decision on a processor will not be made until June.

Alberta Federation of Labour president Gil McGowan expressed reservations about the project, saying that raw bitumen export restrictions are needed.  He also said that the province needs to expend public monies to construct upgrading plants.

Edmonton Home Staging Blog - Wednesday, January 27, 2010 - Corporate Day Care in Canada

A local Edmonton-based chain of day-care centers could be the first of its kind to have stock of its company publicly traded on the Canadian TSX Venture Exchange.  The company is based in Texas, and the CEO of Edleun Inc. is seeking a public listing for itself on the stock exchange.  Leslie Wulf, the CEO, believes that with the help of investment funds, he will be able to expand the company's holdings across the United States and Canada.

The business model is unlike any company listed on a Canadian stock exchange, and Edleun would be the first day-care business in Canada to be publicly owned and traded.  In documents that were filed with the TSX exchange, the company states that it has assumed ownership of eleven day-care centers in the Edmonton and Calgary area.  The chain of day-cares that the company now owns operates under the name, "123 Busy Beaver"

The company has apparently owned these centers since 2007, when they were purchased by Adroit Investments and Educare Development Inc. on behalf of an unidentified client.  There are many critics of the company's business model, but Wulf says that Edleun Inc. is prepared to overcome the problems that have left other, previous large-scale day-care companies bankrupt.

Wulf says that with the help of the investment capital brought by investors, he will not only acquire existing child-care centers, but he will build new, state-of-the-art centers where parents will want to bring their child for care.

He wants to raise over $15 million in the capital markets, but the company and the country as a whole is coming under fire about the state of child care in Canada with the arrival of a publicly-traded corporation that intends to make profit through the child-care business.

Edmonton Home Staging Blog - Thursday, January 21, 2010 - Real Estate Market in Alberta In Recovery Mode and Doing Nicely

Alberta’s real estate market appears to be recovering nicely.  Experts are predicting that residential sales will see up to a 10 percent increase in many cities and towns across the province.  Canada Mortgage and Housing Corporation is also confident that house prices may also have as much as a five percent increase.

It is also no longer a clearly defined buyers or sellers market. In the fall of 2009 the hot market started to favor the seller, a reverse from the beginning of that same year.  Now things are more on an even keel.

Some areas of the province were harder hit in the real estate pocket than others.  Grande Prairie and Fort McMurray, both heavily dependent on the oil trade are two examples.  Both cities are seeing a steady recovery.  Canmore is taking a bit longer with a good number of condos and homes still on the market.

The recovery is being driven by the first time homebuyer.  Many who were waiting to get into the market could not resist the low interest rates and lower price points that were seen in 2009.  Prices on homes have increased but interest rates remain low and are expected to remain so for the first part of 2010.

It may take a while longer for the “second home” market to recover. Canada’s economic recovery in general has a ways to go before it catches up to real estate’s dramatic turn around in first home sales.  Only then will the luxury of a second home once again be a consideration.

Edmonton Home Staging Blog - Sunday, January 17, 2010 - Huge Show of Support for Fallen Canadian Heroes

The community, both actual and virtual, is acting in full force to memorialize five Canadians who lost their lives December 30 in Afghanistan.  Two Sherwood Park natives, Sgt. George Miok, age 28, and Cpl. Zachery McCormack, age 21, were killed by the detonation of a roadside bomb in Kandahar City.  Also killed in the same incident were Pte. Garrett Chidley, age 21, of Cambridge, Ontario, Sgt. Kirk Taylor, age 28, of Yarmouth, Nova Scotia and Michelle Lang, age 34, a reporter for the Calgary Herald.

To date, nearly 4,000 people joined groups on social networking site Facebook to commemorate Miok and McCormack.  Mourners put yellow ribbons along the way from Edmonton International Airport to Miok and McCormack’s resting place at Sherwood Park’s Glenwood Memorial Gardens.  At McCormack’s funeral, his fiancée, Nicole Brisson, painted a picture of the life she and McCormack were about to share.  The couple had known each other since they met as 15-year-olds at a youth group-sponsored camp.  

Miok’s funeral was held January 9 at Our Lady of Perpetual Help Church.  Friends, teachers and people who never knew him posted entries on Miok’s memorial page on Facebook.  Onetime teacher Corey Ralph recalled Miok as a preternaturally wise person and a phenomenal student.  Friend Erik Okerstrom noted that he had spoken with Miok two weeks prior to his death, and that Miok indicated he was glad to be assisting Afghani citizens.  Greg Gorecki shared on Facebook his account of how hundreds of people, including citizens, police, EMS staff and war veterans gathered to line the entrance of the Toronto office of the coroner.

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