The Bachelor Canada House

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I know all of you will be glued to your TV sets tonight to see who the Bachelor finally picks, so here is some more information about the real star of the show. Yes, the Bachelorette Mansion where all the contestants have been living, as well as hosting those infamous rose ceremonies.

This beautiful home is located just outside of Victoria, BC at the golf resort development of Bear Mountain. The home was recently listed on the market for $13.9 million dollars back in January, but has since been reduced to a more reasonable $9.99 million. The home was built by, and was the personal home of ex-NHLer and developer / President of the Bear Mountain resort Len Barrie.  HSBC Bank foreclosed on the property back in January.

The home is an impressive 13,500 square feet with 6 bedrooms and 10 bathrooms and is opulently finished. Enter through the long winding gated stone driveway up to the home. The home’s mountain-top location on bear mountain offers panoramic views of the ocean and surrounding mountains. The home sits on 1.33 acres and has a stunning infinity pool, outdoor kitchen and fireplace, and hot tub grotto.

 

 

Calgary top real estate investment market in Canada

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By Mario Toneguzzi, Calgary Herald – November 12, 2012 

Calgary has been ranked as the top real estate investment market in the country followed by Edmonton by the Real Estate Investment Network Ltd.

In its Top Alberta Investment Towns report, REIN said that Alberta’s economy has come out on top after a few years of economic turbulence.

The report identifies towns and regions poised to outperform other regions of the province over the next three to five years.

And none is better than Calgary.

“After a couple of roller-coaster years, Calgary is back on a roll. The return of jobs to the city, as well as greatly reduced office vacancy rates show us that the city’s short slump has come to an end,” said the report. “Recording a GDP growth of three per cent in 2011, and one of the lowest unemployment rates in the country, it’s no wonder Calgary is sitting as one of the top places in North America for property investors. When you combine the economic fundamentals, the population growth, and a burgeoning provincial economy, it is easy to see why so many businesses and people have come to call the city home.

“The market is hot. With the pressure on the resale housing market, there is similar pressure on the rental market. Inventory has dropped for rental accommodations while monthly rents have increased. Real estate investors and real estate agents are reporting that rental listings are being pounced on. Savvy investors purchasing units and advertising them for rent upon close are receiving calls from anxious tenants wanting to see the unit before the investor has possession and/or has done any improvements to the property. Rental sites are reporting difficulty in compiling statistics become some communities have nothing for rent.”

REIN said housing affordability will begin to be an issue in Calgary, with rents increasing and a high average sale price. But when you look at that price versus average income it shows that other cities in Canada have a much larger problem on their hands.

“Calgary has the long-term economics to support long-term market strength while other cities do not,” said REIN.

The Top Alberta Investment Towns ranked in order are: Calgary, Edmonton, Airdrie, Red Deer, St. Albert, Fort McMurray, Lethbridge, Grande Prairie, Okotoks, Leduc, Sylvan Lake and Lacombe.

The report said Airdrie has been one of the fastest growing communities in the province.

“Its proximity to the economic engine of Calgary and the growth of the surrounding economy will push the physical and economic growth limits of the city in the next decade,” said REIN.

“With increasingly easy access to many areas of Calgary via the ring road as well as the growth of job centres in and around the city, Airdrie property owners should continue to feel upward pressure on both rents as well as home prices. As affordable housing becomes a growing problem in Calgary, Airdrie will benefit from lower average house prices. As the office centre of the west, Calgary may offer employment opportunities that Airdrie does not, but much of the labour force will turn to Airdrie as a place to call home.”

REIN’s top Canadian investment cities ranked in order are: Calgary, Edmonton, Hamilton, Surrey, Maple Ridge and Pitt Meadows, Airdrie, Kitchener and Cambridge, Red Deer, St. Albert, Waterloo, Winnipeg, Saskatoon, and Halifax.

According to a research note by Scotia Economics, Alberta remains a key economic engine for Canada, with the highest provincial real GDP growth rate forecast for 2012 and 2013 at 3.4 per cent and 3.0 per cent respectively.

“The economy is growing strongly with contributions from consumer spending, business investment, particularly in the oilsands, and exports, which is encouraging given the strong Canadian dollar and soft global demand,” it said. “Provincial government spending also will continue to support growth, albeit at a slower pace than over the decade prior to the recession.”

In the second quarter of 2012, Alberta had a year-over-year population growth rate of 2.5 per cnet, the highest in the country.

“At this juncture, the federal government’s recent tightening of mortgage and home equity financing standards appears to have had a limited impact on Alberta’s housing market,” said Scotia Economics. “It continues to be supported by strong employment growth, significant wage gains and ongoing resource development.”

Original Source Article: http://www.calgaryherald.com/business/Calgary+real+estate+investment+market+Canada/7534574/story.html

Welcome to Calgary!

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With all the hiring going on by the oil companies, there are quite a few new residents moving to Calgary. So I thought I should provide a video about what Calgary is all about created by our tourism board. Many of these 50’s and 60’s bungalows are still around and on the market today!