Power edit

Circumstances got the better of me last week and a post here was virtually out of the question. Fortunately, this past weekend saw completion of a major round of edits on a book I’m writing with Douglas Gray, Real Estate Investing for Canadians for Dummies (yes, those Dummies). That should free up some head space!

It hasn’t been all work around here, however. Over the past week I’ve taken time to read why Zinfandel grapes bear the name they do in the April issue of Wines & Vines; listen to music from St. John’s College, Cambridge; make hot crossed buns (not yet banned in Canada); and taste the pear, honey and vanilla tones in a glass of Kim Crawford 2005 Marlborough Sauvignon Blanc.

I also saw a photo I took at Waterton Lakes, Alberta in 1991 on the site of a blogger in Thailand. I’ll take that as a compliment.

Recreational writing

Curiously, a handful of articles regarding recreational real estate seem to be my lot this week. Scanning prices for waterfront properties across Canada, I always find myself noting how much higher average prices are in British Columbia than elsewhere. Yet my interviews with brokers and agents tell me I shouldn’t be surprised. With cash-rich Albertans and retirees from Greater Vancouver looking for getaways within driving distance, lakefront properties in the B.C. Interior are rising in value by as much as 20 per cent a year. You'll be able to read more about my findings in forthcoming issues of Western Investor and other publications.

It's not just recreational property values that are rising. Construction costs for new properties also continue edging upwards, a phenomenon I touch on in the current Western Investor. The increases are especially challenging for developers of sustainable projects commited to providing many public amenities. Victoria’s Dockside Green is a case in point. The Woodward’s project in Vancouver also faces challenges, with developer Westbank Projects Corp. still trying to get a handle on the final cost of an ambitious venture currently estimated to require $300 million.