This article from MSN money is fantastic. Basically the state of your wallet is the state of your finances on a very small scale. So, if it's stuffed with crumpled bills and receipts your head is in the sand but if your bills are orderly and you know how much is in there you have a pretty good control of your money.It's not the first time I've heard this either, how you treat your money is how you TREAT your money. If you're disrespectful to it, leave it scattered around and generally aren't aware of it then you are probably trying to sabotage your finances or "don't care" about money. I say "don't care" because like it or not we all care about money.Since I learned this principal I went from the crazy messy wallet to the organized wallet and wouldn't you know my finances improved drama... 04/13/2009

Well the stats are out. The sales were better than December, but much lower than January of 2008 (off 40.9%) there were 730 sales in January versus 608 in December. The positive spin that has been put on this is that the unit sales number has went up month over month, but December was a record low for unit sales. Analogy: So, it is kind of like saying I upgraded my car from a Gremlin to a Pinto. No offence to Pinto owners out there. There is good news though. The listing inventory is sitting at 6573, in 2008 we were already up to 8284 homes for sale by the end of January. That means we added 4% to our listing inventory in the month of January. To put that into perspective, our listing inventory grew by 12.7% in January 2008. So, after polishing my crystal ball and if this pace continues... 02/04/2009

Probably the safest place in the world to park your investment funds. Edmonton revenue real estate is a tangible asset so it doesn't have scary fluctuations, produces cashflow which means increases in your bank account every month and is a bargain right now. 01/09/2009

You can get a mortgage free, fully renovated home in Edmonton if you have $11 and a good enough reason why you deserve to own it.A Edmonton lawyer/investor hopes to cover the cost of renovating a 4 bedroom house by receiving 25,000 hopefull entries  to win the previously foreclosed property. It may be an $11 lottery ticket but the chance to win a home mortgage free is a great piece of marketing and a wonderful idea.Visit The 11 Dollar House website and Facebook page.Sorry only residents of Canada can enter! 12/23/2008

....another opens.I read an article today on how Hard Times Generate Entrepreneurs. Basically during an economic crunch we have to be more innovative and aggressive. Focus on a niche market within your customer base and serve them well."Small business have to adapt or die.So you have to look at your customer base, modify who you cater to if it's needed, and cater to that demand. . . . People will still need certain services, and the smaller the niche you serve, the more successful your business can be." Vance Gough, instructor of entrepreneurship at Mount Royal College's Bissett School of BusinessIn our case that would be helping people, who don't have the time to invest or to learn how, create wealth in Alberta oil sands real estate. It's pretty focused - it probably could be more focu... 12/22/2008

Wikipedia, the free online encyclopedia, is useful for checking facts on everything from historical figures to rock stars to recipes. It's also a useful tool to research neighbourhoods where you are planning to invest. Pages like Neighbourhoods in Edmonton or Neighbourhoods in Calgary are excellent resources for your due diligence.For example we bought a single family residence in Crawford Plains. I was able to research the dwelling mix, what types of housing are prevalent in an area, and what schools and shopping centers are nearby. This information is important to know for your tenants and for resale. I was also able to find major roadways and transportation hubs- which may positively or negatively affect resale real estate prices. 12/16/2008

Housing market hit by economic uncertainty - " A report out from RE/MAX today says the global economic crunch has made an impact on housing sales in major Canadian cities towards the end of 2008. About 440 000 homes are expected to change hands in Canada this year, that's a 15 percent drop from record levels in 2007. Here in Edmonton, just under 19 000 homes will have been sold by the time 2008 is said and done with. That would mark an 8 percent drop from last year's number of 20 437. The average house price in Edmonton dropped only about a percent this year with the number sitting at $335 000. That number isn't expected to change in 2009." After all is said and done the price of average house in Edmonton only dropped 1%.  Think of your stock investments and how much they have dropped o... 12/08/2008

Well December is here already. It has been a wild year for Edmonton real estate. We have seen a peak of listing inventory never seen before. Our sales have been strong for much of the year. Although November has cooled off. We are now at 8015 homes for sale, and we had 891 sales in November. To give you some perspective, normally we see 1200 homes selling in November, so the sales are off by roughly 25%. Inventory has continued to fall, this is good. I heard a rumour that Calgary's inventory was rising this fall. So, the drop in listings pattern has continued. We should see an inventory level in the 7000 range by the end of the year. The one difference I think we will see in 2009 is not as much of a run up in inventory in the first 5 months of the year. The reason I'm saying this, is th... 12/02/2008

CMHC posted their Housing Market Outlook for Fall 2008 earlier this month. Although media and many pundits cry bust it looks like a healthy market adjustment. Next year we can look forward to healthy sales and therefore rising resale home prices. "Existing home sales across Greater Edmonton will fall by 12.4 per cent this year but should post a moderate rebound in 2009. A relatively strong economy, lower mortgage rates, solid wage gains and the absence of further price declines will underpin a modest recovery next year. Residential sales reported on the MLS® by the Realtors Association of Edmonton (RAE) will reach 18,000 units in 2008, improving by almost three per cent to 18,500 sales in 2009. Next year will represent the fourth best year on record with sales approaching the levels rep... 11/28/2008

Hope you all had a nice Halloween, it is nice to see warmer temperatures and no snow for the little ones. As for the market, October has continued the inventory decline. The sales in October did dip (1203 sales), although that is consistent with previous Octobers. If you look at the stats from the month of October back to 2004, then you will see most months result in 1200-1300 sales (the only exception being the overheated market of 2006). So, overall we are seeing very consistent results with continued strong stable demand. The one change has been the inventory decline, as you can see from the graph it is not nearly as steep as previous months. We may not see the 5000-6000 inventory level at the end of the year if this pattern continues. 7000 may be a more realistic prediction. 11/01/2008

During my 6 day relaxing stay in the hospital after the birth of my son I listened to lots of BBCpod casts, read a lot of Smithsonian magazines and listened to one fantastic audio book called Change Or Die.Full of compelling stories the book illustrates that the biggest hurdles facing organizations and people is avoiding change. Among the examples: simple lifestyle changes that would save lives of heart patients, innovative ways of reforming criminals and of course our own personal beliefs and ideals that we find very hard to part with.I left the hospital not only a mother but also with a new perspective on what I need to change in my life to reach the goals I have set for myself and to be a better role model to my son.The book works as an excellent catalyst; even if your changes aren't... 10/23/2008

The market continues to strengthen on both the supply and demand side. The supply of homes is now sitting at 8630 homes for sale in the Edmonton area. Down from 9612 last month. On the demand side, the number of sales have bounced up to 1719 from 1541 in August. We are now in a market with a 5 month supply of inventory. Technically we are now in a balanced market.Predictions? As I mentioned in August's wrapup, I think we will drop into the 6000 or less inventory range by the end of December. That should set us up for a strong spring market in 2009 where we could start to see price increases. 10/01/2008

A good way to see what is fueling the Alberta economy is to visit the Oilsands Tradeshow in Edmonton is to go to the oilsands tradeshow. "Widely seen as a future driver of the global economy,oil sands development sits front and centre on the global stage. This year's Oil SandsTrade Show & Conference launches at a significant time for oil sands and heavy oilprofessionals as they assemble in Edmonton to explore innovative ways todrive environmentally sustainable energy," said Wes Scott, Event Director, dmgworld media. Green technology and careers feature at the event. For more information and events schedule check here HERE IF you hurry you can still get a free pass by the end of today (you must be in the oilsands industry to obtain a free pass). Exhibition Hours: Tuesday, September 23: 1... 09/22/2008

When the price and market is right the buyers will come. To investors who do their research it has always been clear that the Edmonton market is not unstable and prices aren't plummeting merely stabilizing. With so many listings on the market the pickings are plentiful and the prices are right. "I've been run off my feet," "July was ridiculously busy and August has been ridiculously busy, and when it shows in the numbers, it's not just me. "The stats show buyers are confident with the Edmonton economy. It's a large selection to pick from right now, and I think they don't foresee a drastic dropping of prices, so they want to get into the marketplace and buy. "By the time we get through to next spring, we're going to have a far more reasonable listing inventory and we're going to have a f... 09/10/2008

Once again Edmonton and Alberta are beating the whole country in 2007-08 for  the most capital investments, job creation or/and large projects.  Edmonton ranked first in Canada.  Alberta got top for competitiveness. "It means they were the most successful in attracting the most number of qualified projects," Site Selection editor-in-chief Mark Arend said today. Read Article 09/07/2008

The pattern continues. Our listing inventory has dropped to 9612 from 10,335 in July. That is a big drop. If we continue at this rate, then our inventory could easily drop under 7000 homes for sale. Last year (2007) we saw a drop to the 7000 level, but the inventory didn't start falling until October. Therefore, we may even see 5000-6000 numbers for inventory. If we do see this level and our sales remain strong, then price increases could be expected in 2009. Those are mighty big "ifs", but the pattern and graphs are pointing in that direction. A 5000 level of inventory with 1500-2000 sales per month would definitely create a seller's market. Before everyone gets too excited, we won't be returning to the 50% annual increases in price soon. We should come back to the 5-7% annual price in... 09/06/2008

This is a common question that sellers have.  As you can see from the graph the list price to sales price ratio has bounced between 96% and 97% for 2008.  So, what this means is, if you have a home listed for $300,000, the average sale price of that home will be in the $288,000 (96%) to $291,000 (97%) range.  The reality is that you as a seller will determine whether you will take an offer or not.  If a buyer offers you 90% of list price, then don't have to take it.  If you have priced your home well, then your list to sale price ratio could be closer to 100%.  I've seen homes that are well priced go for 100% of the list price or higher in this market. I've also seen the opposite occur.  I've seen where a home has been on the market for awhile and/or needs quite a bit of work and a moti... 08/18/2008

The days on market average has been fairly consistent for 2008 in the Edmonton market. We started the year at 61 days and dropped down into the 51-55 day range in the remaining months. Many people call me in to sell their home and make the mistake of thinking they can put their home on and have it sold (ie have their money and move out) in 30 days. This is a possibility although very unrealistic.Firstly, our days on market average does not include homes that sold but were also on the market previously and failed to sell. For example a home may have been on for 180 days with another REALTOR® and then it was relisted and this time it sold in 45 days with the same or different REALTOR®. The days on market reported is 45, NOT 225 (45 when sold + 180 when expired). So our days on market ave... 08/13/2008

This is a common question that people have when they have a home to sell.  Should we find a home first, or sell ours first?  I understand the worry that you won't find the right home, but in reality that is very rare. Especially today with our current listing inventory in Edmonton we always find a good home if we give ourselves enough time (60-90 day possession on your existing home).  I always recommend to sell first.  There are quite a few reasons but the biggest is money.  Financially you can lose money by buying first.  To explain this, when you are buying you are emotionally involved.  When you are selling it is much more of a logical (have to do) process.  I've seen many people buy first and overpay for their new home (emotional) then they "dump" their home and sell at a low price... 08/04/2008

Well this month we finally can see a trend.   We are starting to see our listing inventory finally coming down.  This follows closely with previous years where we peak out in May with the number of homes on the market. There is then a gradual decline to a low of inventory at the end of December.  Then in January inventory builds until May and starts to fall again.  On the demand side, the sales have been quite strong.  We are just off April, May and June numbers of 1820-1850 sales, we sold 1752 homes.  That is particularly good for July as this month is normally the lowest next to December for sales volume.  This amount of sales is also much stronger than last July (2007) where we had only 1565 homes sold. 08/01/2008