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- Aug 31, 2007
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I found this article quite interesting has anyone else heard of this project by Halliberton?Grande Prairie - Why the Time is Now!
By Jen Skelton and Drew Betts
Over the past 6 months, Grande Prairie has been experiencing some market fluctuations. Developers overbuilt, resulting in softening of the resale and rental markets. Many unsophisticated investors and sellers panicked, declaring that the boom was over or the market was crashing. We see this every time the market experiences a dip or a brief plateau. This is why we invest for the long term and base our decisions on economic data rather than uninformed heresay and speculation.
As a general rule, we like to do exactly the opposite of what the general public is doing. As Warren Buffet says, "Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it." Right now there are many sellers who are flooding the market with properties, resulting in fear. For the first time in several years we are seeing a buyers` market in Grande Prairie. Evolve is taking full advantage of this situation and buying aggressively. A great deal of value is created when you buy right.
We`re continuing to buy because we study the market and we know that, although there are an above average number of listings, very few new housing starts have begun. Sales have still been strong, which means as soon as the current inventory has been absorbed, we`ll be heading into another housing shortage. This is the perfect time to invest! When the smell of fear and uncertainty is in the air, opportunities are plentiful, and we can already see the indicators of a market poised for strong growth.
The housing market isn`t the only thing poised for growth in Grande Prairie. Natural gas is rebounding strongly from a few tough years, with prices expected to rise in 2009 to near $14 US according to analyst Jeff Rubin of CIBC World Markets Inc. Rubin has increased his early predicted average of US$9.50 per mmBtu to US$12.50 per mmBtu in 2008 and US$14 per mmBtu in 2009.
He also calls natural gas the "sweetheart" of the power-generation sector. "Outside of a few isolated places such as Alberta, there is no new coal generation being licensed in North America," Rubin states in a recent report. "Virtually all of the increase in power capacity over the next decade will be gas-fired, sending North American gas prices well into the teens over the next several years."1 Inventory is low, prices are high and Grande Prairie is a major hub for the production of natural gas. This means more investment, more jobs, higher wages, lower vacancy, and so much more in the way of good news for smart investors.
A major indication of expected growth is the news that Halliburton, an American oil and gas company has plans to build an 800 employee shop in Grande Prairie. This goes to show that Grand Prairie has hit the world\`s radar as an area with great growth potential and access to premium resources. In terms of the rental and owner housing market the job creation will increase demand for housing putting upward pressure on the value of homes and rental amounts.
This window of opportunity to buy when the market is fearful will not last forever. Sales are continuing to be strong with insufficient new development to replace it. With excellent growth prospects for 2009, now is the time to act!
1 Investment Executive, Jul2 2 2008, Dina O`Meara
By Jen Skelton and Drew Betts
Over the past 6 months, Grande Prairie has been experiencing some market fluctuations. Developers overbuilt, resulting in softening of the resale and rental markets. Many unsophisticated investors and sellers panicked, declaring that the boom was over or the market was crashing. We see this every time the market experiences a dip or a brief plateau. This is why we invest for the long term and base our decisions on economic data rather than uninformed heresay and speculation.
As a general rule, we like to do exactly the opposite of what the general public is doing. As Warren Buffet says, "Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it." Right now there are many sellers who are flooding the market with properties, resulting in fear. For the first time in several years we are seeing a buyers` market in Grande Prairie. Evolve is taking full advantage of this situation and buying aggressively. A great deal of value is created when you buy right.
We`re continuing to buy because we study the market and we know that, although there are an above average number of listings, very few new housing starts have begun. Sales have still been strong, which means as soon as the current inventory has been absorbed, we`ll be heading into another housing shortage. This is the perfect time to invest! When the smell of fear and uncertainty is in the air, opportunities are plentiful, and we can already see the indicators of a market poised for strong growth.
The housing market isn`t the only thing poised for growth in Grande Prairie. Natural gas is rebounding strongly from a few tough years, with prices expected to rise in 2009 to near $14 US according to analyst Jeff Rubin of CIBC World Markets Inc. Rubin has increased his early predicted average of US$9.50 per mmBtu to US$12.50 per mmBtu in 2008 and US$14 per mmBtu in 2009.
He also calls natural gas the "sweetheart" of the power-generation sector. "Outside of a few isolated places such as Alberta, there is no new coal generation being licensed in North America," Rubin states in a recent report. "Virtually all of the increase in power capacity over the next decade will be gas-fired, sending North American gas prices well into the teens over the next several years."1 Inventory is low, prices are high and Grande Prairie is a major hub for the production of natural gas. This means more investment, more jobs, higher wages, lower vacancy, and so much more in the way of good news for smart investors.
A major indication of expected growth is the news that Halliburton, an American oil and gas company has plans to build an 800 employee shop in Grande Prairie. This goes to show that Grand Prairie has hit the world\`s radar as an area with great growth potential and access to premium resources. In terms of the rental and owner housing market the job creation will increase demand for housing putting upward pressure on the value of homes and rental amounts.
This window of opportunity to buy when the market is fearful will not last forever. Sales are continuing to be strong with insufficient new development to replace it. With excellent growth prospects for 2009, now is the time to act!
1 Investment Executive, Jul2 2 2008, Dina O`Meara
