TFSA – Tax Free Savings Account

I’ve been looking into the TFSA a little bit, and it seems like a great idea. In fact it appears at first that you can invest this money into whatever RRSP’s can invest into. For those of you that don’t know what this is, this is a new account that you can put up to $5,000 personally each year, per person. So if it is you and a spouse, you can put in $10,000 a year and invest that money, and any gain in the account you can take out tax free.

If you are interested in this, and would like more info, please let me know and I’ll do a larger article on the new TFSA.

The Basics Of Real Estate Investing

Real estate investments may not be everyone’s cup of tea, but some people who have already tried investing in real estate know that it can be profitable. Real estate investment experts say there are several keys to making significant profits in real estate investment deals. And when the deals are profitable, you will certainly be well on your way to success.

For real estate investment neophytes, don’t be afraid of the challenges and pitfalls you may encounter along the way. There is definitely a lot to learn, but in the long run after you have gained some experience, you’ll hopefully become a master at closing profitable real estate deals.

There are 5 core skills that are necessary for building a real estate investment business. These will be the key factors in creating a profitable real estate investment portfolio.

These are the 5 core skills of real estate investment:

1. You must learn when and where to find the right kind of sellers.
2. You must learn the art of being a master negotiator when it comes to closing your real estate investment deals.
3. You must be able to quickly and accurately analyze each real estate investment deal so you’ll know exactly when to proceed and when to pull the plug.
4. You must become an expert in all areas of real estate investment and understand such terms as lease options, cash sales, short sales and other terminology common in the real estate investment trade.
5. You should totally understand the meaning and concept of investing in real estate, including all of the financial risks and benefits.

Now is a great time to consider investing in real estate.  Like Warren Buffet says… “When the masses are greedy is a time to be fearful, and when they are fearful is a time to be greedy” There are great potential rewards and the effort you put forth can yield enormous monetary returns on your investment.

Your confidence level will grow when you’ve gained some experience and closed on your first few real estate deals. But, don’t stop there…

Continue to learn about real estate investing and to develop your investment skills. In a short time you may find yourself managing a profitable and growing portfolio of investment properties.

Continue to follow your real estate investment “game plan” and always keep an eye out for the hidden investment opportunities. The opportunities are definitely out there and with a little knowledge and desire can be yours for the taking. So, why not get started in what might be a new and exciting (and profitable) career today? For more information please visit The Chamberlain Group today… and we can help you achieve what you want in life through investing in real estate.

New Condos in NW Calgary

Please visit the UPDATED POST for all NW Calgary Condos…

Below are the 18 condo projects that are happening in NW Calgary as of Sept. 20, 2008

NORTHWEST CONDOS

• BLUE SKY:  By Streetside Development Corp. Townhouses with mountain views starting at $299,000. At 2 164 Rockyledge View N.W. (weekend) or 118 30 Royal Oak Plaza N.W.

• EDGE ON 17TH, THE:  By Strathridge Apartments Inc. At 1231 17 Ave. N.W. One-bedroom and two-bedroom units from $239,900 to $369,900. Show suite open.

• KENSINGTON, THE OXFORD:  Townhouses on 12th Street. From $599,900.

• ORCHID IN TUXEDO, THE:  Three-storey condominium building has one-bedroom-plus-den and two-bedroom units available. Starting at $319,900. At 2012 1 St. N.W.

• PANORAMA POINTE:  By Pointe of View Developments. From 579 to 1,243 square feet. Presentation centre at 60 Panatella St. N.W.

• PANORAMA HEIGHTS:  By Rockford Ventures. From the low $300,000s. Show home at 398 Panatella Blvd. N.W.

• PLAZA AT ROYAL OAK:  By Streetside Development Corp. Townhouses starting in the $320,000s. At 118-30 Royal Oak Plaza N.W. Show suite open.

• PROVIDENCE AT KENSINGTON:  By Providence Development Corp. From 1,024 to 1,101 square feet. From $487,900. Two-storey townhomes from about 1,600 square feet. Presentation centre at 1321 Kensington Cl. N.W.

• RANCHVIEW VISTAS:  By Cardel Lifestyles. At 6315 Ranchview Dr. N.W. One- and two-bedroom apartment-style condos from the low $240,000s.

• RED HAUS:  By Streetside Development Corp. Apartment condos from $199,000. At 118-30 Royal Oak Plaza. N.W.

• SWAN LANDING AT ROCKY RIDGE:  By The Swan Group. At 525 Rocky Vista Gardens N.W. Bungalow-style villas from $449,900 to $599,900. Apartment condos from $269,900. Show suite open.

• TUSCANY POINTE:  By Cedarglen. At 104 Tuscany Ravine Heights N.W.

• URBAN VIEW BY THE RIVER:  Urban View Projects. $408,000 — $512,000. Presentation centre at 204 8 Parkdale Cres. N.W.

• VIDA:  By Luxe Developments. At the corner of 17th Avenue and 3rd Street N.W.

• VILLAGE AT WEST SPRINGS:  By Landstar Development Corp. Terrace townhomes and patio homes. At 73rd Street and Old Banff Coach Road.

• VILLA D’ESTE:  By Knightsbridge. Apartment-style condos south of Tuscany Boulevard. Show home open.

• THE VUE:  Two-bedroom apartment-style condos in Hillhurst from $332,900. At 429 14th St. N.W.

• WEST BY STONECROFT:  Luxury condos from the mid-$300,000s. At 88 Arbour Lake Rd. N.W., near Crowfood Crossing. Furnished show suites open for viewing.

New Condos in SW Calgary

Please visit the updated post of new condos in SW Calgary Here…

Below are all 51 condo projects in Calgary in the SW quadrant with location and info as of Sept. 20, 2008.

SOUTHWEST CONDOS

• ACCESS COUGAR RIDGE:  Birchwood Properties Corp. From low $300,000s. Discovery centre and show homes located at 5 Cougartown Cir. S.W. in Cougar Ridge.

• ASCENT:  Aspire Condo Living by Jayman. At 2727 28th Ave. S.E. Pricing from $209,900, plus GST.

• ASTORIA ON TENTH:  By Arcus Developments. Thirty-five-storey tower on 900-block of 10th Avenue S.W., with one- ,two- and three-bedroom floor plans from 580 to 2,157 square feet, and a 4,400-square-foot penthouse. From $300,000s to $10 million. Presentation centre at 110 999 8th St. S.W.

• AURORA AT CHINOOK:  By Condo Condo Development Group. From $259,900. At 790 Kingsmere Cres. S.W

• BANKVIEW, THE:  By Westscape Investment Corp. At 2137 17th St. S.W. Concrete conversion with balconies, storage and parking. Unrenovated for cost-conscious do-it-yourselfers. From $169,800 to $234,900.

• BENTLEY IN LOWER MOUNT ROYAL:  By Eden Group of Companies. Four-storey building with units from 678 to 1,728 square feet. Lofted units have extra 240 to 450 square feet. From $350,000 to $850,000. At 1726 10th St. S.W.

• BRIDLECREST POINTE:  By Pointe of View Developments. From 900 to 1,135 sq. ft. Presentation centre at 2109 16969 24th St. S.W.

• BROWNSTONES OF WENTWORTH ESTATES:  By Beattie Homes. Two-storey estate homes with elevators. At 87 Wentworth Terrace S.W.

• BROWNSTONES AT BANKVIEW:  By The Eden Group of Companies. One unit available, at $469,900. At 2408 17A St. S.W. Visit the New Home Gallery, 100 1414 8th St. S.W. Show suite open.

• CANVAS AT MILLRISE:  By Medican Developments. Sales gallery at 23 Millrise Dr. S.W.

• CASEL:  By Niklas Group. At 17th Avenue and 24th Street S.W. Nine-storey building with units from 676 to 1,243 square feet. From $299,900 to $649,900. Show home at 1935 35th St. S.W.

• CASTELLO:  Homburg-Centron Teamworks. Castello is a 19-storey building with units from the $500,000s. At 530 12th Ave. S.W. Sales gallery open.

• CENTURIA ON THE PARK:  By Lake Placid Developments. At 301 13th Ave. S.W. From $450,000.

• CHURCHILL ESTATES:  By Homburg-Centron Teamworks.Sales Gallery on site at 701 3rd Ave. SW. One-bedrooms from $690,000; two-bedroom from $820,000.

• COLOURS BY BATTISTELLA:  By Battistella Developments. Loft-style spaces at 192 15th Ave. S.W. From $290,000 to mid-$500,000s.

• CRAFTSMAN BUNGALOWS:  By Burntwood Homes. At 21 Bridle Estates Manor S.W. Adult community. From $399,900. Showhome open.

• EIGHTWELVE:  Show suites at 812 14th Ave. S.W. One-bedroom, one-bedroom-plus-den and two-bedroom units available, starting from the mid-$200,000s.

• ELEMENT:  Bachelor units downtown, starting at $179,900. At 827 12th Ave. S.W. Show suite open.

• EVERGREEN GROVE:  By Today’s Communities. Now open. At 24th Street and Eversyde Avenue.

• GINGER PARK:  By Streetside Development Corp. Townhouses with mountain views starting from $399,000. At 8720 9th Ave. S.W. Show homes open Aug. 16.

• HIGHBURY TOWER 2:  By Perera Developments. Homes from 698 to 1,358 square feet. Views of Fish Creek Park, Rocky Mountains or downtown skyline. Sales centre at 14359 Macleod Tr. S.W.

• LONDON AT HERITAGE:  Westcorp. Condominiums at Heritage Station. At 8835 Macleod Tr. S.

• (Adult) LAS BRISAS DEL SUR:  By Gran Sabana Developments. Maintenance-free bungalow villas for 50-plus adults in Springbank Hills. At Elysian Crescent S.W.

• LA CAILLE FIVE WEST, THE:  By The La Caille Group. From $385,000 to $2.8 million, plus GST. Show suite at 924A 5th Ave. S.W. Project at 910 5th Ave. S.W.

• MANCHESTER STATION:  By Source Development Corp. At 5320 2nd St. S.W. One-bedrooms starting at $322,000; two-bedrooms starting at $387,000. Show suite at 341 17th Ave. S.W.

• MADRID, THE:  By Kalzen Property Group. One-bedroom apartment condos from $234,900. Show suite at 1815 16th St. S.W.

• MISSION CROSSING, THE:  By Tricor Development Corp. Three-bedroom townhomes with more than 2,400 sq. ft. of developed space. From $1,499,000. At 540 21 Ave. SW. Sales centre open.

• MONTECITO IN MARDA LOOP:  By The Eden Group of Companies. At 1725 to 1733 34th and 35th Ave. S.W. From 1,400 to 1,900 square feet. From $499,900 to $599,900. Show suite open. Visit New Home Gallery at 100 1414 8th St. S.W.

• MONTANA, THE:  By Procura. At 817 15th Ave. S.W. Show suite open. Discovery centre at 803 15th Ave. S.W.

• TOWNHOMES IN MOUNT PLEASANT:  By Rainbow Homes Ltd. At 407 28th Ave. N.W., in Mount Pleasant, These executive, 1,850-square-foot homes have three bedrooms and are priced from $699,000. Two units available. Showhome open.

• MOSAIC ASPEN HILLS:  By Hawthorne Homes. From mid-$300,000s. At Aspen Hills Green S.W. Show homes open.

• NEWBURY:  Aspire Condo Living by Jayman. Townhouses from $576,900 to $622,900. Show suite at 3000 Dallaire Ave. S.W.

• NEWS:  By Today’s Communities. Show suites open. From the $280,000s. At 400 Village Gdns. S.W.

• NUERA:  By Cove Properties at 1410 1st St. S.E.

• OSCAR LIVING AT EAU CLAIRE:  By The Eden Group of Companies. From 808 to 1,756 square feet. From $499,900 to $1,599,000. At 735 2nd Ave. S.W. Presentation centre at 100 1414 8th St. S.W. Show suite open.

• OSLO:  By Homburg-Centron Teamworks. A 32-storey tower with suites from $350,000. Sales gallery at 1324 11th Ave. S.W.

• RIVERFRONT POINTE:  By Pointe of View Developments. Suites from 622 to 1,540 square feet. At Riverfront Avenue and 3rd Street S.E.

• ROBSON:  By Streetside Development Corp. Apartment condos from $259,000. At 26 Val Gardena View S.W. unit 102.

• SANDERSON RIDGE:  By Medican Developments. Luxury living in Fish Creek Park. At 2330 Fish Creek Blvd. S.W.

• SILVER SKY COURT:  By Vertical Properties. At 7 Silverado Range Heights S.W. Two-storey town homes.

• SITRO:  One-bedroom units starting from $199,900. At 2411 29 St. S.W. Show suite open.

• TERRACES OF ERLTON, THE:  By Del Rich Homes Ltd. Townhomes are 2,100 square feet and priced from $995,000 (includes GST). At 2707 Erlton St. S.W.

• TWEED:  From 700 to 1,600 sq. ft. At 1734 5A St. S.W.

• THE VILLAGES AT WEST SPRINGS:  By Landstar Development Corporation. Old Banff Coach Road and 73rd Street S.W.

• UPLAND ESTATES:  Executive townhomes and condos in Marda Loop. From the $450,000s. Sales centre at 3 2120 35th Ave. S.W.

• UNION SQUARE:  By Apex City Homes. At 1325 1st St. S.W. Units from $340,900 to $749,900.

• WATERFRONT:  By Anthem Properties. Units are 581 to 2,518 square feet. From the $319,900. Show suite at 104 2nd St. S.W.

• WEST 17TH LOFTS:  By Pacer Signature Homes. From $1.1 million to $1.6 million. Presentation centre at 53 Aspen Ridge Way S.W.

• WINDSOR, THE:  One- and two-bedroom suites from $215,000 and $310,000. Located within walking distance of Stanley Park, Chinook Centre and public transit. Show suite at 315 50th Ave. S.W. Immediate occupancy.

• VALMONT AT ASPEN STONE:  By Today’s Communities. At the corner of 85th Street and 17th Avenue S.W. Two-bedrooms from $357,900, plus GST.

• XENEX:  By Bucci. Presentation centre at 1226 8th St. S.W.

Smaller Oil Producers may Sell Out

Right now with some economic uncertainty, some smaller players in the oil industry may look at selling vs. pushing through this time.  We may see take-overs starting to happen more frequently in the months ahead.  Some of these companies who would rely on outside investment and capital to run their business, might need to look for funds elsewhere.

But overall, Canada’s oilpatch comes out of the market meltdown relatively unscathed with the exception of some battered share prices.

That’s because the industry has traditionally relied on internally generated cash flows to fund growth.

Hal Kvisle, president of pipeline giant TransCanada Corp. said “If you go back to the start of my time in this job, we were generating about $1 billion a year in cash flow, of which the first $400 million went to the payment of debt. Now we generate $3 billion and the first $700 million or $800 million goes to the payment of a dividend, so we have five or six times as much available financial strength.”

There is a ton of money in the larger companies right now.  The revenue they have generated over the last couple of years, plus having majority of budgets based on the $70-$90 per barrel price, they will be able to weather the economic uncertainties in the coming months.

Canadian Rules will Prevent U.S.-Style Crisis

We’ll (Canada) feel some ripple effects, but growth here should remain positive…

Canada’s banking system is not only number one in the world right now, but rather we do things a bit different than the US as well… Our banking system is made up of what is called Deposit Banks, where the banks that do investments also are the same ones that you and I, as Canadians hold our chequing and savings accounts in.  The banks are much, much more regulated and supervised here in Canada vs. the US.

In Canada and most other industrial nations, investment banking — which can include stock trading, packaging and selling securities, corporate advice on mergers, and making investments for profit — is mostly done by the same commercial banks that offer savings and chequing accounts through branches on every street corner.

Commercial banks are closely supervised by government regulators and their leverage — the amount of borrowed money they use to do business — is limited to a fraction of that formerly found in the lightly regulated U.S. investment banks.

That means they can never earn the fabulous profits reaped by the U.S. investment banks in good years. But it also means that they have much less risk in bad years. Better still, they are cushioned by profits from their more stable consumer and business lending, and their large pool of depositors’ money means they’re less dependent on borrowing in bond markets to do business.

————

The good news for Canada is that this country doesn’t have serious problems with its financial system or a collapse of home prices. We’ll be hurt by the U.S. slowdown, but our internal strength means that growth here should remain positive.

Oil Country Boom Ain’t Over…

Jeff Rubin has a simple message for Albertans worried about plunging oil prices: CHILL OUT!

This was the opening line of a great newspaper article posted in Vancouer Sun on Sept. 20, 2008.  The odd thing about this, is that the articles that talk about the positive things this economy are brining are found tucked away in papers… prime example, this was on page I6 !

Here is what it had to say…

But for Canadians, the key tidbits are that the U.S., our primary export market, is going to become even more dependent on us. Not only is their ability to supply their own demands diminishing as well-known basins such as the Gulf Coast begin to show diminishing returns, but projected replacement supplies from places such as the Arctic National Wildlife Reserve are decades away from becoming a reality.
At the same time, other key U.S. suppliers such as Mexico and Venezuela have, to put it politely,
issues. Within the next four or five years, for example, Rubin predicts Mexico “will no longer be exporting oil to the United States.” As for America’s relationship with Venezuela, suffice to say it’s not likely to improve so long as strongman Hugo Chavez is calling the shots — and there is no reason to believe that is about to change anytime soon. What does it all mean? Good things for the oilpatch by and large. Without a doubt, demand for production from the oilsands will continue to grow in the United States and elsewhere — even if, as a result of the credit crunch that is sure to follow this week’s machinations in the investment-banking world, some projects are temporarily shelved.
And in triple-digit prices, conventional explorers will also be chomping at bit, so to speak, to find more oil. Which is why – as difficult as it may be – we need to be sanguine about what lies ahead for the oilpatch.

BOTTOM LINE . . .

We Canada, provide USA our southern friends, SECURITY in the future…

Canada Has Best Banking System in The World

So it appears that Canada has the best rated banking system in the world as a survey done by the World Economic Forum has found as financial crisis and bank failures shake world markets.

For years, other countries would mock Canada on being so tight, and conservative, but look at us now.

Canadian banks received 6.8 out of 7, just ahead of Sweden (6.7), Luxembourg (6.7), Australia (6.7) and Denmark (6.7).

UK banks collectively scored 6.0, narrowly behind the United States, Germany and Botswana, all with 6.1. France, in 19th place, scored 6.5 for soundness, while Switzerland’s banking system scored the same in 16th place, as did Singapore (13th).

The ranking index was released as central banks in Europe, the United States, China, Canada, Sweden and Switzerland slashed interest rates in a bid to end to panic selling on markets and restore trust in the shaken banking system.

The Netherlands (6.7), Belgium (6.6), New Zealand (6.6), Malta (6.6) rounded out the WEF’s banking top 10 with Ireland, whose government unilaterally pledged last week to guarantee personal and corporate deposits at its six major banks.

Also scoring well were Chile (6.5, 18th) and Spain, South Africa, Norway, Hong Kong and Finland all ending up in the top 20.

At the bottom of the list was Algeria in 134th place, with its banks scoring 3.9 to be just below Libya (4.0), Lesotho (4.1), the Kyrgyz Republic (4.1) and both Argentina and East Timor (4.2).

You can view the whole report here….

And to be honest, if Canada has the best banks in the world, and Alberta is number 1 in Canada in majority of areas, we are in a good spot right now.  We will be able to weather the economic storm that is over us.  We are not immune to it, but have a strong economy that will be able to push through..

I’m glad to be Canadian!

World Bank Rankings

1. Canada
2. Sweden
3. Luxembourg
4. Australia
5. Denmark
6. Netherlands
7. Belgium
8. New Zealand
9. Ireland
10. Malta
11. Hong Kong
12. Finland
13. Singapore
14. Norway
15. South Africa
16. Switzerland
17. Namibia
18. Chile
19. France
20. Spain

——————————————–

39. Germany
40. United States Of America

44. Britain
——————————————–

124. Kazakhstan
125. Cambodia
126. Burundi
127. Chad
128. Ethiopia
129. Argentina
130. East Timor
131. Kyrgyz Republic
132. Lesotho
133. Libya
134. Algeria

Calgary Prices Past vs. Present

We have had some incredible growth in our prices in Calgary, and Alberta in general.  At some points we were making money without even doing anything to our houses, and some months we were getting upwards of $5,000 per month “in our pocket equity”.  Times have changed… we are now seeing prices relax, and decline.  Now, don’t take me wrong, I’m not saying that the increase in Calgary and area is over, by no means, but the market is resting right now… Below is a great graph that puts it all into perspective of how well we have done with the prices in Calgary.

Would love to hear your feedback!

The Sky Is (Always) Falling!

As you may have seen in papers or media… they are saying that the Canadian housing market is falling.  First off, if you are basing your idea of real estate purchasing or investing on the country wide stats, you are most likely not going to do well…  Every province, city and town is different, and needs to be studied on its own.

I really want to urge you to take a long term approach to what is happening.  The Alberta, and more specifically the Calgary and area market is taking a breath.  If the market continued to climb with 30%-40% increases year over year, I would be very nervous.  But with the market taking a breath, finding a new bottom, this says to me that there will be some continued growth in the future (there are many other reasons for this as well).  Personally, I am OK with the market the way it is.  The media and paper articles talk about how the market is not doing good and Alberta “in general” is having much greater decreases in year over year prices than the rest of the country.

All in all, if you are investing in real estate, or looking to buy a home, now is a great time to find some great deals out there for purchase.  There are motivated vendors (sellers), and some great cash flowing property.  Don’t get caught up in the media hype, and get overwhelmed… STAY FOCUSED!

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