ALL OF THE LIGHTS!

ZooLights

November 25, 2011 - January 7, 2012
(Excluding Christmas Day and December 31)

6:00 PM – 9:00 PM nightly
Gates close at 8:30 PM
North Gate entrance ONLY

$10 Adults + GST (includes parking)
$7 Children + GST
TICKETS ARE ON SALE NOW!!

Please contact the Zoo’s guest relations office for information on group rates.

As you wander through Zoolights, you will be surrounded by the most amazing holiday cheer there is. Sip your hot chocolate, warming up by a fire pit and enjoying the great Canadian winter weather.

Speak directly to Santa at the North Pole, shop at the Elf’s Toy Shop that’s just for kids, participate in the NEW Penguin Plunge Kidz Zone and take a walk through Candy Land!

Don’t forget your non-perishable food bank donation. Collection bins will be placed at the North Gate entrance to the Zoo.

There are more then 1.5 million light reasons to come to Calgary’s favourite Holiday tradition:

•SantaVision allows children to talk directly to Santa in the North Pole. Later you can download the conversation to send to family and friends.

•New Penguin Plunge Kidz Zone with activities such as Happy Feet, March of the Penguins, Reindeer Toss and more!

•Ice Carving demonstrations every Friday and Saturday nights by Frozen Memories.

•Learn about the many different kinds of Wishing Trees celebrated around the world and then write your own wish to hang on the Zoo’s Wishing Tree.

•Every Friday and Saturday night, enjoy performances by local Calgary choirs.

•Enjoy two new light exhibits, including Candy Land and an Ode to Canada.

Please give yourself at least one hour to fully enjoy all that Zoolights has to offer

OIL SANDS OUTPUT PROJECTIONS!

Canada oil sands output to triple by 2035: report
Reuters
Nov 23, 2011

Production from the oil sands will more than triple over the next quarter century, to 5.1 million barrels per day, Canada’s national energy regulator said in a report released on Tuesday.

In a look at energy production and consumption through 2035, the National Energy Board said output from the oil sands, the largest source of U.S. oil imports, will continue to expand from around 1.5 million bpd currently as new mining and thermal projects tap the resources.

The oil sands of northern Alberta are the world’s third biggest crude reserves, behind only Saudi Arabia and Venezuela, but the largest open to private investment.

The NEB said its forecast also assumes oil prices will rise slowly through to 2035, reaching $115 a barrel in 2010 dollars, a level that provides a reasonable profit even for expensive new mining and upgrading projects such as those operated by Suncor Energy Inc, Royal Dutch Shell and Canadian Natural Resources Ltd.

The board also estimates that Canadian oil exports will rise to 5 million bpd by 2035 from about 2 million currently, with most of the additional supply coming from oil sands projects.

However the board cautioned that its forecast assumes markets and infrastructure will be available to handle the additional production. That outlook comes despite a U.S. decision delaying the approval of TransCanada Corp’s Keystone XL pipeline from Alberta to Texas by as much as 18 months.

The NEB said total production of Canadian crude oil would rise to 6 million barrels a day by 2035, double current levels. Though most will come from the oil sands, output from oil shale reserves like the Bakken field in Saskatchewan will also help bolster the total.

Photo by: Luuk van Beek

THE 411 ON T.O. CONDOS

Cool with condo
Alex Newman
National Post  Nov. 18, 2011

As Toronto condo prices march steadily upward, luxury suites are right in step. Fetching at least $1,000 per square foot with sizes anywhere from 1,800 to 4,000 sq. ft., final sale prices are well into the millions. Not surprisingly, such projects are situated in the city's toniest neighbourhoods - Forest Hill, Yorkville, Yonge and St. Clair, the financial district, plus a smattering along the waterfront.

What is surprising, however, is who is buying. In addition to the wealthy couple downsizing from their large family home, and foreign investors looking for a safe financial haven, there's a newly emerging group of younger buyers.

What's even more surprising is that a sizable number of them are first-time buyers, according to Tina Amato, vice-president at Baker Realty, which handles sales for the Ritz-Carlton. Given that suites start at $1.4-million, these younger buyers are clearly well employed. Because most are single and work long hours, they love to be able to walk to work through the PATH system, and love the hotel perks such as maid or room service, she says.

As much as they like to be pampered in exchange for the gruelling schedules, Ms. Amato says they're also realistic about spending: "If they can't manage the Ritz, they'll go the next project down, which may not be the Ritz, but is still luxury." Stephen Price, COO of Graywood Developments, which built the Ritz-Carlton, says 10 years ago "that group wouldn't have existed in a project of this nature."

A similar shift is apparent at Trump Toronto. "Early on, the bulk of our purchasers were a mix of Canadian and foreign investors," says Howard Tikka, director of marketing for Trump. As the tower nears completion, however, he is finding more local people, some empty nesters but particularly area finance workers who want to have a downtown residence. It's also attracted companies looking for guest suites for clients who come to Toronto on business.

A similar story unfolds at the Shangri-La - a 66-storey, 370-unit project described by its marketing manager Michael Braun as being at the "intersection of the cultural entertainment and business worlds." Situated at University and Adelaide, with suites ranging from $1-million to $13.3-million for a 6,700-sq.-ft. two-storey penthouse, it's attracting whiz kids who work in the financial district and are buying up some of the smaller suites.

Even empty nesters seem to be younger downtown. Mr Braun notes that a number of buyers aged 40 to 55, not yet retired but with older kids who are moving out, "want the action of downtown." Call it a condo mid-life crisis, if you will.

While the downtown buyer wants a hip location, the downsizing older couple craves a luxury spot in familiar territory: midtown or north Toronto where they've owned large family homes. They end up choosing suites in projects like The Four Seasons, Museum House and The Avenue.

"Buyers in a downsizing phase still want to stay in the community where they have always lived," says Elli Davis, a top Royal LePage agent for luxury residential resale. "They want to be able to walk to Forest Hill Village, take a quick streetcar ride to Yonge and St. Clair, be near the subway."

Those buyers are the majority of Hunter Milborne's clientele, as well. As managing partner of Sotheby's, he's sold some of the city's most expensive condos to people from "higher-end neighbourhoods, like Bayview, Forest Hill and the Kingsway. And most are independently wealthy."

The suites they buy - for anywhere from $1-million to $10-million - aren't even a "huge part of their net worth," Mr. Milborne says. One couple, who couldn't decide which apartment to buy, purchased both, figuring they'd sell whichever one they decided not to keep.

And what this market wants more than anything is space, says Mimi Ng, vice-president for Menkes, which developed the Four Seasons. "Our purchasers are primarily end users who are either downsizing from a family home, or already living in a condo and making the move to a larger suite in a new building," she explains.

The other draw is service, which could put hotel-condos in the front of the luxury pack. "A big part of buying into the [Four Seasons] is its reputation for incredible personalized service, and access to all those amenities, concierge, spa, restaurant," Ms. Ng says.

The final group of luxury buyers is international. "International buyers represent about a third of the suite sales at Shangri-La," Mr. Braun says. He figures these buyers probably have business interests in the city, and tend to travel from home to home.

Trump Toronto also has its share of the international market. Mr. Tikka says their buyers come from the U.K., the U.S. and 20 other countries. While Canadians account for about 35% of Trump purchasers, U.K. buyers represent about 25% and U.S. about 20%. The remaining 20% are scattered throughout the world.

The waterfront is a big draw for the international buyer, says Cityzen Group's president Sam Crignano. His Pier 27 project has a wide variety of suite prices, but luxury purchasers are attracted to the penthouse suites, which command about $1,000 per square foot.

Mr. Crignano has recently noticed an increasing interest "from wealthy buyers from mainland China and south Asia," he says. "They may want to live in the suite, but mostly they want to park money with the reassurance that if there's political upheaval where they're from, there's a place they can go to."

Foreign buyers have always gravitated to waterfront properties, Mr. Crignano says. "[It's a trend] that's not just here but elsewhere in the world, because there's a perception that waterfront projects demand a higher-per-square-foot price."

While location and suite size are major factors in luxury purchases, suite finishes are a close second. These include marble bathrooms, 10-or 12foot ceilings, top-of-the-line fixtures and kitchen cabinetry and appliance packages featuring Sub-Zero, Wolf or Miele. Other draws: soaker tubs and rainshower sprays and saunas and private elevators, also real hardwood floors (as opposed to engineered hardwood), granite, marble or limestone tiles, plaster cornice mouldings, and eight-inch baseboards.

Amenity spaces are also lar-ger and more luxurious. The city's usual requirement of two square metres of amenity space per unit won't do in a luxury building. For one thing, units are typically large, so there are fewer per building, which makes amenity space smaller than any mid-market building.

The pampering quotient of amenities is nice, especially when they include spas and such, but they're as much about increasing a resident's overall living space. A 1,000sq.-ft. condo in the Trump Tower, for example, expands exponentially to include housekeeping and room service, a two-level full-service spa and wellness facility, and a 10,000-sq.-ft. business facility.

Naturally, maintenance fees reflect these benefits, with high-end projects levying $1 per sq. ft. "What creates cost is staff," Mr. Milborne says. "Valet parking, concierge, spa manager that all translates into high maintenance fees."

About 8% of the condobuying public qualifies for a luxury product. What's financing this choice, at least in the downsizing set, says Ms. Davis, is the fact that they own large homes that have appreciated wildly since first purchased. Simultaneously, there's a "transfer of funds coming down the generations."

They've got the money, but they're ready to shed responsibility, Ms. Davis says. They're trading the high-maintenance large home for the freewheeling condo lifestyle. But with few options in familiar neighbourhoods - close to the shops and cafés they're attached to - developers have had to find land, even if it's on the fringes of established single-family neighbourhoods. 1717 Avenue Road - the first condo project in that whole area - for example has attracted three of Ms. Davis's empty nester clients.

Although the price tags on luxury suites can run as high as $10-million, Ms. Amato says Toronto is still "cheap" in the world market: "Our prices are lower than any other large city in the world, including Vancouver. The Ritz, at $1,100 per sq. ft. for example, is a lot lower than New York where I'd say it's at least $4,000 per sq. ft. for something super luxury."

Which is to say, luxury could be considered a bargain in this city.

STAGE RIGHT?

MARKET READY
By TIM McKEOUGH
New York Times September 28, 2011

Q. Our old apartment is sitting empty, and not selling. Is it worth the money to hire someone to stage it?

A. Staging an apartment — adding furniture and accessories to make it look lived in — can be expensive. But you may be able to cover your costs, and then some, by creating a more appealing environment.

“I won’t let people come on the market empty if I can help it,” said Deanna Kory, a senior vice president at the Corcoran Group, who has used staging to help sell apartments for more than a decade.

Ms. Kory, who has staged apartments on her own and worked with professional staging companies, said renting a hand-picked selection of furniture and arranging it with accessories will often speed up a sale and generate a higher selling price. Generally, she has found that sellers with empty apartments can increase their selling price by “at least 5 to 10 times the investment you’re going to make” in staging, she said.

For instance, if you put in $10,000, it should yield between $50,000 and $100,000 more in profit than an apartment sold empty, she said.

But, she added, “There are good stagers and not-so-great stagers.”

“You have to get recommendations,” Ms. Kory said. “If they have a good track record, they should be able to tell you stories and show you some photos.”

One stager she has worked with is Sid Pinkerton, who runs a company called From Drab to Fab. Mr. Pinkerton has been in business since 2003, and he estimates that he has staged over a thousand apartments in New York City during that time.

One of the primary reasons for staging, he said, is that potential buyers often have difficulty understanding the proportions of empty rooms.

“Most Americans are what I call ‘visually challenged,’ ” Mr. Pinkerton said. “When rooms have no furniture in them, you have no size spec. It raises the question, ‘Will my furniture fit in here?’ The whole point of staging is to answer those questions before they even arise.”

This is especially true, he noted, when it comes to bedrooms. “They might feel small when they’re empty, when in fact they will very easily hold a queen-size bed, nightstand and dresser.”

While every job is different, Mr. Pinkerton said his services for staging an empty apartment “can be as little as $5,000, but up to $15,000 and more,” depending on factors like size and layout. Those figures include furniture rental; if you add some of your own furniture to the mix, the fee would be lower.

The other option, if you’re confident in your design skills, is to do it yourself. Companies like CORT (888-360-2678 or cort.com) and Churchill Furniture Rental (800-941-7458 or furniturerent.com) carry a range of pieces catering to different tastes, available for short-term rental.

Just remember the goal. “You’re trying to appeal to the baseline needs of the general public,” Mr. Pinkerton said, not create a space that reflects your personal style. “Staging is the complete counterbalance to interior design.”

http://www.nytimes.com/2011/09/29/garden/staging-an-apartment-market-ready.html?ref=marketready

Images featured is the work of Bloom Property Stylists in Calgary, Alberta

GEARING UP FOR THE SEASON!

IS IT EASY BEING GREEN?

MARKET READY
By TIM McKEOUGH
New York Times November 16, 2011

Q. Can green updates increase the value of my home? If so, what are the most cost-effective options?

A. “If you do just one thing, it’s probably not going to add value,” said Jeffrey Schleider, managing director of Miron Properties, a real estate company specializing in green properties, in New York.

But when a number of environmentally friendly updates are implemented all together, they can help your home stand out from the crowd. “If you do five or six things as a package,” he said, “it really makes your property more appealing.”

That said, he added, “there are some investments where you won’t see a return on your investment, because they’re too expensive relative to the value they add.” So he advises starting with easy low-cost changes that target energy savings, clean water and clean air.

To cut energy consumption, he recommends motion-sensor switches in bathrooms and closets that will automatically turn lights on and off when people come and go. Basic models often cost under $20 at hardware stores.

To improve water quality, he suggests installing an under-counter filtration unit by a company like GE or Kohler, for filtered water at the kitchen sink.

“That’s something that people, both environmentally conscious and not, are interested in,” he said. “It stops the use of bottled water, but it’s also a convenience to have clean water at your tap. Even a very good system can be added for a few hundred dollars, and that adds value.”

To improve air quality, he said, sellers should use paints with low or no volatile organic compounds. “It’s not significantly more expensive,” he said, “but can be a huge appeal to buyers. Certain buyers are especially sensitive and can’t even look at homes that don’t have no-V.O.C. paint.”

Ellen Hanson, a New York interior designer who focuses on sustainability, echoed Mr. Schleider’s advice about using low- or no-V.O.C. paint.

She also suggests adding Energy Star-certified kitchen appliances, low-flow bathroom faucets and showerheads, and dual-flush toilets to the list of possible upgrades.

All these items save energy and water, she said, while giving your home a fresh new look.

“We also like to use multilayered window treatments to control solar gain and heat loss,” Ms. Hanson said. “You end up consuming less energy, but whether a buyer of your home would perceive that or not, I’m not sure.”

Indeed, many of these upgrades may go unnoticed if not spelled out in promotional materials. “A lot of them are choices you don’t see,” Ms. Hanson said. “But you can brag about them when you describe your property.”

Mr. Schleider also stresses the importance of marketing these upgrades, pointing out that they could give sellers an edge on the competition.

“It’s pretty tough to sell in some markets right now,” he said. “So any edge you can have is a positive.”

http://www.nytimes.com/2011/11/17/garden/can-green-updates-help-a-homes-resale-value-market-ready.html?ref=garden#

Photo By: Hat Sharpener

BULLISH CONSUMERS

Canadian consumers remain bullish on real estate market
October sales highest since beginning of year
By Garry Marr
Financial Post November 16, 2011

The Canadian housing market continues to defy those who have long predicted its collapse.

It was just another set of numbers, but if anything the market seemed to pick up steam with October sales across the country the best they have been since January.

The upward push caused the Canadian Real Estate Association to slightly revise its predictions for 2011. The group now says sales will be up 1.4 per cent from a year ago, instead of 0.9 per cent.

"The continuing strength of home sales activity in the face of ongoing financial volatility speaks volumes about the confidence of Canadians in our housing market," said Gary Morse, president of CREA.

Even going into 2012, CREA doesn't see much changing in the marketplace with interest rates near record lows. It's calling for a relatively minor 0.5 per cent reduction in sales next year.

The industry continues to have plenty to gloat about as annual sales have held steady in the $450,000 range for the past three years. Prices have also shown a steady upward trajectory and are now forecast to reached an average of $362,700 in 2011, which would be a seven per cent jump from the year before. Next year, prices are expected to remain flat - something most people in the real estate industry see as an accomplishment in the present economic environment.

"Home sales activity over the past couple of months suggests buyers are confident that the Canadian economy will remain relatively unscathed by global economic risks, since every home purchase is a homebuyer's vote of confidence in the future," said Gregory Klump, chief economist with CREA, adding there is strong feeling the government's fiscal policy would be coordinated to give housing any support it should need in the event of a pullback.

So far, the industry seems to be getting all the support it needs from a low interest rate environment that has kept people in the market. Variablerate mortgages tied to prime are still available as low as 2.7 per cent while a five-year fixed rate closed mortgage is now being discounted down to 3.19 per cent.

Toronto continued to carry the national market in October with sales up 14.3 per cent from a year ago. The activity in Canada's largest city helped boost overall sales activity, which rose 8.5 per cent from a year earlier. Prices across the country continue to be moderate with the 5.5 per cent year-over-year increase the smallest it has been since January.

The consensus among economists is that the housing industry might not have much more to give in terms of price increases or sales but they also are not predicting a massive decline either. "The fact that prices are overvalued today does not necessarily mean they will crash tomorrow," said Benjamin Tal, deputy economist with CIBC World Markets.

He thinks a "violent market meltdown" would need a catalyst like the a sub-prime crisis or a jump in interest rates like the industry saw in 1991. "We do believe the housing market in Canada will stagnate in the coming year or two," Tal said.

That housing market has become a key component of the country with a report from TD Economics saying the construction industry was second fastest growing industry in the country and accounts for 10 per cent of GDP. "While the industry's performance over the last decade has been astonishing, some of the recent strength is likely to taper off in the coming years," the bank said.

Photo By: WCampos3