But don’t expect return of ‘Tiger Woods’ days (Source: Edmonton Journal) When it comes to the housing market, E-town still rules. That’s the word from Don Campbell, president of Canada’s Real Estate Investment Network. The popular author, consultant and public speaker says Edmonton remains the best place on the continent to invest in residential real estate. It’s a claim he first made last August, shortly after oil prices peaked at$147 US a barrel, and Alberta was rolling in energy riches. … Read More

(Source: The Toronto Star) A high-end Mississauga townhome development burst into flames last night, destroying at least 55 unoccupied homes and leaving a spectacular scene of rubble. Another fire at the same location in February caused $1 million in losses and damaged six units. This morning, the devastating remnants of the townhomes resembled Roman ruins – some front facades still standing and piles of brick and blackened beams still smouldering. Park View Trail construction manager for Dunpar Homes Julien Diciano … Read More

(Source: Daily Commercial News and Construction Record) The Remington Group Inc., the driving force behind the $3 billion Downtown Markham development, has unveiled plans for an 800,000-square-foot mall at the intersection of Steeles Avenue and Kennedy Road. A firm date has not been set for groundbreaking of the Remington Centre, which will include an adjoining 20-storey condo/ hotel tower. The project is to be built on the site of the Market Village Asian shopping centre, which will be demolished. “We … Read More

Americans want smaller homes, but will the desire for less square footage outlast the recession? (Source: The Wall Street Journal) A new study out Monday by the American Institute of Architects shows that Americans have fallen out of love with McMansions. The 500 residential architects surveyed said that only 4% of their clients wanted more square footage in their homes this year, compared to 16% last year. This desire isn’t surprising, given both the recession and the fact that the … Read More

(Source: Worthwhile Canadian Initiative) We all know that the proximate cause of the US recession was the bursting of its housing market bubble: it blew up banks, laid waste to personal balance sheets, and left millions of people stuck in homes whose mortgages were more than their market value. And then Canada went into recession. Unfortunately, this set up the following error of logic that was repeated in all-too-many Canadian newsrooms: The US is in recession because its housing market … Read More

In a hurry to sell your home? Here’s how to make sure you snag the best price in shortest amount of time. (Source: Money Magazine) 1. You have to seriously undercut the competition 2. Outside fixes have the biggest impact 3. First-timers are your friend 4. Online tricks will make your home pop 5. Your secret weapon is a speedy deal Read Beth Braverman’s full article “5 steps to a quick home sale” in CNNMoney (June 30, 2009).

This article may appear to have nothing to do with real-estate; but, anyone using the internet for real-estate marketing should pay attention to this battle. (Source: Wired) Today, the Google-Facebook rivalry isn’t just going strong, it has evolved into a full-blown battle over the future of the Internet—its structure, design, and utility. For the last decade or so, the Web has been defined by Google’s algorithms—rigorous and efficient equations that parse practically every byte of online activity to build a … Read More

Lawyer says that ‘frightening’ news alarmed Toronto’s real estate board before it cut off broker (Source: Toronto Star) Toronto Real Estate Board executives were likely “frightened” by the prospect of telecom giant Bell Canada entering the real estate market and offering cheaper real estate commissions when they pulled the plug on a subsidiary’s access to the Multiple Listings Service, court has heard. “I don’t envy executive members who sat on a conference call and heard what I am sure was … Read More

(Source: Reuters) U.S. private equity firm Blackstone Group (BX.N) said on Monday it had raised 3.1 billion euros ($4.3 billion) for a fund to invest in property throughout Europe, as it anticipates the sector’s recovery. The Blackstone Real Estate Partners Europe III fund, which has reached its final close, had initially sought to raise 2.5 billion euros, the company said in a statement. “(The fund) is well positioned to take advantage of the inevitable recapitalization of the property sector,” Chad … Read More

Prices and sales may be down nationwide, but the country’s costliest spreads still command top dollar. (Source: Forbes) There’s been a lot of denial among luxury homeowners. In 2006, it was thought that the luxury market wouldn’t suffer the same fate as the broader market. A year later, high-end home buyers were thought to have endless, deep pockets, further insulating the top-tier from the cratering economy. As the nation’s markets in 2008 went from bad to worse, some in the … Read More