Nexen takeover deadline extended by 30 days

CNOOC Ltd. and Nexen Inc. have extended a deadline to complete the $15.1-billion (U.S.) takeover of the Canadian oil and gas company as they await U.S. regulatory approval.

The deal, the largest Chinese overseas takeover in history, was to have expired Jan. 31, 2012. The deadline has now been pushed back by 30 days, but the clock is ticking. Under the terms of the deal, it can only be extended 75 business days beyond Jan. 31.


The takeover has already cleared regulatory hurdles in Canada, the United Kingdom, the EU and China.

The major holdout is the U.S., where the Committee on Foreign Investment in the United States, or CFIUS, is examining the deal.

Part of the CFIUS mandate is to examine the impact of financial transactions to U.S. security. That review has been lengthy.

After an initial 75-day review window expired in November, Chinese state-owned CNOOC was forced to “pull and refile” its application, a move that triggered market concern.

In recent weeks, however, investors have acted with substantial confidence that the deal will be consummated, with Nexen’s New York shares closing Friday at $26.97, not far from the $27.50 offer price.

About 12 per cent of Nexen’s energy production comes from the U.S. Gulf Coast, a region that is one of the pillars of the company. Parts of it are also politically sensitive.

Though Nexen is a minority partner and non-operator in most of its U.S. offshore projects, it owns a number of leases that, thanks to a generous incentive program, are virtually royalty-free.

Observers have speculated that Nexen may be forced to divest some of those properties, although officials with CNOOC have, in the past, argued that the Gulf of Mexico is fraught with substantial risk, and will require large amounts of investment to develop.

Still, others have warned that CFIUS may be concerned about the proximity of some Nexen assets to areas used by the U.S. military.

They have also highlighted a potential reciprocity concern, given that U.S. firms face investment restrictions in numerous Chinese sectors.

SOLD - 东北区 Harvest Hills 近购物中心 $319,000

                                                    156 Harvest Rose Circle NE $319,000

Wonderful 2-story 3 bedrooms home close to Country Hills/Harvest Hills shopping centre is a perfect place to start. It provides a very spacious open plan, has everything you need! Open concept main floor features laminate floor and tiles in kitchen, spacious living room full of sun. Breakfast nook & island are perfect for entertaining. Southwest facing back yard is fully landscaped & fenced. Upper floor consists of 4-piece bathroom, 3 bedrooms. Large Rec/media room in the fully finished basement. Great value! ! Schedule your viewing today!

SOLD 西南区好地段 Kingsland 四层错层 $399,000

                                                          7716 7 ST SW   C3550993

Great location on a Humongous Lot 65' x 100'! Attached Garage. Newer windows, Newer Furnace, Newer Water tank, Newer Humidifier. Original hardwood in main floor and upper hallway, also hardwood under carpets of bedrooms. Two fireplaces, one with natural gas, one woodburning. Gas and electric hook-ups for dryer. Updated kitchen cabinets. Huge deck and beautiful backyard. Desirable neighbourhood close to shopping(Starbuks), schools, bus and LRT. This home is located within walking distance of Chinook Park Elementary School, Henry Wise Wood High School. Location!Location! Location!

Alberta premier warns of $6-billion shortfall in oil revenue

CALGARY, Alberta — Alberta’s premier warned on Thursday that the Western Canadian province faced a $6 billion shortfall in revenue due to deeply discounted prices for its crude oil but offered no specifics on how to prevent falling deeper into the red.

Alberta’s financial forecasts have been thrown into disarray by fast-growing output from its vast oil sands and limited pipeline capacity to move it to markets in the United States and elsewhere. That has pulled the price of a barrel down to less than half that of international benchmark Brent oil.
The situation has prompted Premier Alison Redford and her government to warn of a tough budget on March 7, and raised questions about her ability to meet a promise of erasing its budget deficit in the upcoming fiscal year.

Quite simply, we have to put Alberta’s finances on a more stable footing. A province as prosperous as Alberta should not be as susceptible as we are to swings in the price of oil and gas

In an eight-minute televised address, Redford explained the reasons for the sharply reduced take from Alberta’s biggest industry and pledged not to raise taxes to make up the difference, but did not say where she will cut spending.

 

In fact, she made note of strong desire in the province of 3.8 million people for new roads, schools and healthcare facilities.

“Despite falling oil revenues, I give you my commitment that as we deliver our long-term economic plan for Alberta, we will be thoughtful in our approach and we will deliver on these priorities,” she said.

Alberta is Canada’s largest oil-producing province and the largest foreign energy supplier to the United States, and had become used to boom times until the oil market weakened last year.
Redford has been an enthusiastic promoter of TransCanada Corp’s contentious Keystone XL pipeline, which would carry Alberta’s crude to refineries in Texas.

The project took a series of steps forward this week as the governor of Nebraska approved a new route for the long-delayed project through the state and 53 U.S. senators urged U.S. President Barack Obama to approve it. However, Obama’s decision is not expected for several months.
Alberta is considering a host of other potential routes to new markets that could lead to higher returns, but Redford cautioned that long-term solutions will not be quick.

In the meantime, Alberta, which derives 30% of its overall revenue from the oil industry, will be $6 billion short of its revenue target for the upcoming fiscal year, she said.

Recently, the bitumen crude from the oil sands has sold for more than $40 a barrel below U.S. light crude, leading the Bank of Canada this week to also point out the national economy was feeling the effects as well.

“It will take focus and determination over the next several years to open new markets. And that is job one for my government,” Redford said.

The Progressive Conservative government, in power since 1971 and re-elected last year, is being pilloried by its opponents for forecasts they say that have been far too rosy, for relying too heavily on the fortunes of a highly cyclical industry and for tapping debt markets.

“It doesn’t do any good to talk about how we might have pipelines four or five or six years from now,” said Danielle Smith, leader of the opposition Wildrose Party. “What is the plan over the next three or four or five years to get us accustomed to this new reality of lower energy prices and lower revenues?”

Redford was vague as she cautioned about upcoming spending cuts in programs and services “that are not sustainable over the long term.”

“Quite simply, we have to put Alberta’s finances on a more stable footing. A province as prosperous as Alberta should not be as susceptible as we are to swings in the price of oil and gas.”

SOLD - 西南区 Evergreen 背靠Fish Creek Park $939,000

                                                  164 Everglade Circle S.W. C3547753

Oasis in the city.Come and view this Estate family home overlooking the natural beauty of Fish Creek Park. Upon entering this home you'll be greeted by a grand open curved staircase, a generous living room, a large den & family room and an amazing kitchen including granite counter tops, rich cabinetry and custom built-ins. Ceramic tile and recently installed rich acacia walnut hardwood enhance the openness of the main floor. The large windows brighten the home and the park like setting is yours to enjoy. The expansive upper level includes three generously sized bedrooms plus a marvellous master suite with views over looking the park. The Master Bedroom also includes a sprawling spa like en suite complete with his & hers sinks and a generous walk-in closet. The impressive walk out level includes a sizable area to entertain quests, 2 additional bedrooms and a full bath. Central air conditioning and in-floor heating installed for your enjoyment.

一天Conditional Sold两套房子的经历

昨天/周一 一位买家和我预约本周末看4套房子，我一看其中一套房子的地段、价位根本留不到周末，所以今天中午带妻子看房了。仔细研讨过我发送的信息后，妻子决定只看这套就行了。


看了很久，从房子出来在车上签完OFFER时，看到另外一位华人经纪开车过来，没注意到车上客户的情况。下午卖家代理来电话说接到那位华人经纪的OFFER，卖家代理准备晚上9：30见卖家。在这种情况下，买家只有尽全力了，我们商量好战术了，就等着晚上递OFFER了。


再说说另一个房子的情况，今天凌晨/周二忙完全部功课后，我把一套房子上传到MLS系统中，本来周二上传新房源不算太好，可以等等的。但是上周客户要收拾家，已经耽搁了一周了，所以就赶早上传了。好家伙，一大早就有买家代理和我约看房，前前后后到晚上6：50应该有10个上下看房的了。早些在分析什么价位段挂牌好些时，深思熟虑后我建议卖家不要挂太高了，会把买家吓跑了，其实我们最后定的价格是卖家入住了两年后还加上全部的杂费的价格，卖家不赔的。2010年末35.7万购买的，目前挂牌399，000，那可是原始1959年的装修啊。总之，6点收到第一份OFFER，8点收到第二个OFFER，我晚上9点见卖家。


第一套房子的卖家代理7点前后来电话了，说那位华人经纪退出了，就我们一份OFFER了。这样，我们提前研究好的战士就不用了，我们也不用再出新OFFER了。我就赶快通知买家好消息，我们几乎胜利在握了。


第二套房子呢，我九点和卖家见面了。收到第二份OFFER后，我通知第一份offer的经纪人，对方反败为胜，从38万提升到399，999；而另一个OFFER是39.5万，我本来还以为他可以拿下呢。就这样我们准备签下399，999，结果买家代理传给我的文件是倒着的，我的先进签字软件不好用，我还得赶快回公司打印。

一切都挺顺利呢，意外出现了。第一套房子的卖家在9：30给我来电话，通知我他的合作伙伴出了一份OFFER（他岂不是都知道我们的出价），这样就有变成2份OFFER了。而且，卖方代理退出来，交由公司的另外一位同事处理OFFER的事，约好10点见卖家。

这突如其来的变化，才给我们半小时的时间，让我们怎么办呀？就是蓄意的。我只得放下自己的OFFER，从公司赶到买家家中，签好备份的绝招OFFER，FAX给卖家代理同事。

然后赶回我的卖家家中，完成第二套房子的签字程序，那时已经10：30了。我还得回到公司，将卖家签完的有改动的合同发回给买家代理，11：59也就是半夜前，让对方签回来才行。就因为我的卖家家中没有扫描仪可用。

那时已经好11点了，结果第一套房子的同事来电话，他们不接受我们的“绝招”，我们还得再次口头出价。这可怎么办呀？另外一份OFFER、和我谈判的都是一个公司的，这不是想玩死我嘛？？？我提出，半小时内我的客户、我同时抵达对方公司，亲自亲口出价，因为我们不信任对方。结果，对方说那样太晚了，好11：30了，也许可以今晚哪个OFFER也不接，明天再谈。这套房子今天是第二天，拖一天对我的买家就越不利。战场上，什么事情都可能发生。这可是得当机立断的呀（头痛！），我和买家商量后，买家只肯出到325，000，挂牌价格是324，900。我根本不乐观，我的客户可以拿下。但是，买家只能出到这个价位，也不想被人家耍，我也没办法，总不能拿枪逼着我的客户加价吧。口头报价后，然后就是寂静地等待。。。（我当时心里都闪过一丝两套房子都没有结果的不良好感觉，商场---瞬息万变啊！）

等待时，第二套房子，我的房子的买家代理将最后的合同签好，FAX回来了，已经11：30了。赶快通知卖家好消息。

同时，第一套房子回复消息了，因为我的买家贷款能力高，最后3位卖家接受了我的OFFER。并且将最后签字时间从原来的11：59PM（两套房子截至时间都是今晚半夜）延迟到1am。我的天呀，又开车去买家了，这时路上已经有薄雪了，开始起雾了。到达买家已经半夜了，再回复了买家一打问题后，买家签完字。

打道回府，DEERFOOT上听着音乐、顶着浓雾、吃着桃子（下午3：30点才吃的午饭，晚饭省略了），12：50到家，12：59发送回去签好字的合同。两套房子Conditional Sold告一段落。

凌晨2：17完成帖子，已经周三了。

SOLD 西南新区 Silverado WALKOUT地下室、全新装修 $359,900

ONE SPECIAL HOME!! WALK UP Basement. ACROSS FROM A PARK. Total of 5 bedroom, (3)four piece bathrooms & a 1/2 on main, 2 kitchens, 2 laundry rooms!!NEUTRAL DECOR & IN GREAT CONDITION. WOW!! There is a full width veranda to enjoy the afternoon sun & A great view of the park. The living room is open to the kitchen & dining area plus the large window overlooks the veranda allowing lots of natural light. Kitchen with central island & breakfast bar,(granite tops) corner pantry & window to view children while working in your kitchen. Upper level: Owners bedroom offers huge walk-in closet plus a 4 pc. bathroom. 2 more bedrooms plus laundry room. 2nd bedroom offers closet organizers. Lower Level: Separate entrance, 9' celings, large windows, 2 bedrooms, 4 piece bath & great room concept kitchen/living room.Note a double parking pad at back. Your home is located near a bus stop and new retail shopping. Quick possession is possible.

卡尔加里房地产局 最新公布 2013房地产预测

Calgary, Jan. 16, 2013 – The resale housing market in Calgary and area will see moderate sales and house price growth in 2013, CREB® said today at its annual forecast.

Sales growth in the city is expected to ease to 2.2 per cent this year, with house prices rising by 2.9 per cent.

“Slower growth trends in employment combined with lower migration estimates will impact sales growth across all resale sectors, and, as listings continue to decline, this will further dampen sales growth, particularly in the single-family market,” Ann-Marie Lurie, CREB®’s chief economist, said at the 2013 CREB® Forecast Conference & Tradeshow. “However, as the overall market remains well supplied, prices will continue to grow but not at the levels seen in 2012.”

In 2012, Calgary’s single-family market recorded sales growth of nearly 15 per cent. With a decline in the level of new single-family listings, that is expected to ease to 1.8 per cent this year. Prices are estimated to rise by three per cent.

Becky Walters, president of CREB®’s 2013 board of directors, said the city and surrounding areas are seeing good resale activity.

“We have a nice, balanced market, and it’s expected to see some growth this year,” Walters said. “Although some big markets in Canada are stumbling, Calgary is hot on the heels of a year of recovery, with the forecast saying the market is going to stay in positive territory.”

In the condominium market, sales are expected to increase by three per cent, with a moderate price appreciation of 2.4 per cent for condo apartments and 2.8 per cent for condo townhouses.

Although the prediction is for a “balanced” resale housing market, Lurie said there are numerous risks in the market.

“The largest risk in our market is related to concerns in the oil sector,” she said. “They are facing pipeline constraints and lack of access to more diverse markets, impacting the price they receive for their oil. If the discounts on our oil persist, this clearly could impact the job sector and, ultimately, the housing market.”

加拿大 百万豪宅销售持续火爆

Canada's conventional housing market is showing signs of a slowdown, but the action at the high end of the market continues to be red hot.

That's the conclusion of a report from Sotheby's International Realty Canada, a real estate agency that caters to people wanting luxury homes in Toronto, Montreal, Calgary and Vancouver.

Sales of homes worth more than $1 million in Toronto, Montreal and Calgary ended 2012 with positive year-over-year sales growth. In Calgary alone, sales of luxury mansions were 20 per cent higher in 2012 compared to 2011. Sales in Toronto and Montreal were not quite as strong, but still in positive territory.

"As we enter 2013, the market for homes over $1 million is expected to gain momentum and to generate increasing demand from both local and international buyers," Sotheby's said in the report.
The Vancouver market, however, did fall back, with sales of homes valued at over $1 million declining by 34 per cent on the year, falling back from the stratospheric highs in 2011.
Even in Vancouver, though, in the first half of the year, 22 per cent of homes listed at more than $1 million ended up selling over asking. By the latter half of the year, that dropped to five per cent.

Strong Calgary numbers

Comparing 2012 to the previous year, the Calgary market saw almost two-thirds more luxury homes come up for sale. From that, actual sales ended up coming in 20 per cent higher.
In Canada's largest city, Toronto, the action on the high end of the market remained brisk. Listings rose 25 per cent and sales increased by a "healthy" 13 per cent, Sotheby's said.

"Real estate in high-end neighbourhoods like Rosedale and Bridle Path remained particularly sought after," the agency noted.

In Montreal, luxury real estate wasn't in quite as much demand, but the numbers were still in positive territory.

The second half of 2012 saw listings of homes over $1 million increase by 19 per cent over the same period in 2011, Sotheby's said. And in each of the last two years, the percentage of high-end homes that sold over asking price has remained steady, at between three and five per cent.

Sotheby's says it is so confident in Canada's high-end housing market that it plans to expand to two new cities this year, Edmonton and Quebec City.

最新加拿大经济发展状况 城市排名-前十名

CIBC的最新调查是在不同方面的基础上得出的，排名依次为：
1， Toronto, ON - 20.6
2，Calgary, AB - 19.5
3，Regina, SK - 18.4
4，Winnipeg, MB - 18.4
5，Staskatoon, SK - 18.2
6，Edmonton, AB - 17.8
7，Ottawa, ON - 16.8
8，Vancouver, BC - 14.0
9，Halifax, NS - 13.8
10，Saguenay, QC - 12.2

Toronto has Canada’s most dynamic economy, but it also faces some of the biggest risks in the coming year as the housing market slows down and government stimulus projects wrap up, says a new report from CIBC.

The bank’s Metropolitan Activity Index showed Calgary with the second-most dynamic economy in the country, followed by Regina.

But while the report has only positive things to say about the economies of those two Prairie cities, Toronto will face “a major challenge to the city’s ability to maintain its current economic momentum,” CIBC deputy chief economist Benjamin Tal wrote.

“A softening housing market, the end of many federal and provincial governments’ infrastructure stimulus projects, a projected slower growth trajectory in the manufacturing sector and softer retail trade activity will work to slow overall economic momentum in the city in 2013,” he added.

The Greater Toronto Area accounts for about a fifth of Canada’s economic activity, with the city itself accounting for 11 per cent of Canada’s GDP. A slowdown in Toronto would inevitably have a negative effect on the rest of the country.

CIBC’s index ranks major Canadian metropolitan areas on nine criteria, including population and job growth, personal and business bankruptcy rates, and a number of housing indicators.

While Toronto didn’t come out on top in any of those criteria, it ranked high enough to be in first place overall, the report said.

But the city has seen a noticeable slowdown in its real estate sector, which accounts for about 14 per cent of its economy. CIBC data shows total housing sales declining by more than 10 per cent, year on year, in the third quarter of 2012.

Housing starts, by comparison, continued to grow, stoking fears among some observers of overbuilding in the city’s condo market.

2012年阿尔伯塔省移民数量可能再创新高

2012 could be record-setting year for Alberta migration

Figures from Statistics Canada show a net number of 56,000 people moved to Alberta in the first three quarters of 2012, which suggests that a new record could be set once the remaining numbers come in. The net migration figure is the difference between the number of people who moved to Alberta and those who left.

According to ATB Financial, this figure is even greater than what was seen in 2005 and 2006, the years of the last Alberta boom.

"Alberta is the hottest job market in the country and one of the best places in fact in the industrialized world," said Todd Hirsch, senior economist with ATB Financial.

While the booming job market is good news for Alberta, Hirsch warns the population increase will also increase demands on the province's education and health care systems.

Americans coming to Alberta

Many newcomers are coming to Alberta from outside of the country — over the past six years, the number of immigrants has doubled.

Ronald Smith, a civil designer, has worked at Edmonton-based Stantec for a year after moving from Florida.

Smith was working in a convenience store to pay the bills while he looked for a job in his field, even responding to postings in Australia and the United Kingdom.

"The land development industry dried up so I had to expand my boundaries to look in other places," he said.

Stantec vice-president Keith Shillington says the continuing economic problems in the United States is forcing people to look farther afield for a job.

"As the recession has prolonged down there, we're finding more Americans willing to make the move up to Alberta," he said..

As for Smith, he is enjoying living in Edmonton so far and is happy with the opportunities offered by his new employer.

2012年12月卡尔加里房地产市场报告

卡尔加里房地产回归正常

------2012年我们看到了经历四年的房地产微弱市场的尾声

Calgary, 一月二日, 2013 – 卡尔加里的民宅市场在2012年终岁尾以超过2011年15%的交易量收尾，市场基准价上涨5%，卡尔加里的房地产市场终于走出阴霾。房地产市场在2007年达到了近几年的巅峰，之后的几年调整是引领房地产市场向正确的方向发展的必需（市场是不可能总涨不降的）。

市场持续恢复的主动力来源于能源业的增长，伴随着其它行业的改善，包括房地产市场本身。当然了，就业率的提升、移民人口的增加也支撑了房地产市场的改善，并且这一趋势会以缓慢的速度继续支撑2013年房地产行业的发展。

在卡尔加里城市界内，独立屋市场销售增长的步伐远远超过共管公寓市场，与2011年相比，2012年涨幅为15%。新挂牌量并没有齐头并进，而是比2011年降低7%。这也是房屋价格上涨的原因之一，因为市场上流通的可选库存房源明显降低。

买家呢，密切关注市场价值，一见到上市价格符合他们中长期需求的房屋，他们会立即出手买下。价格增长速度短期会放缓，但是绝大部分社区房屋价格仍然会保持在2007年峰值以下。

12月份市场基准价保持在$434,800，比去年同期涨8.7%。总体来说，独立屋市场2012年涨幅为7%，比2007年巅峰值低2%！！！

公寓销售也改善不少，因为不断降低的独立屋库存伴随时刻上调的价格，使得部分买家寻求可替代的房源。2012年的共管公寓、排屋市场成交量分别上涨12%、16%。同时，两个市场的新挂牌量都降低了，使得市场保持均衡水平。不过，两个市场价格增长的步伐却赶不上“风骚”的独立屋市场。

公寓市场12月份基准价为$248,700，比去年同期上涨5.4%。2012年度市场基准均价比去年同期小幅攀升2%，比房地场市场总体均价涨幅5%低了不少。

2012年市场均价的涨幅会误导大家，因为全年有几套百万以上的公寓售出 。 因为不少房屋成交价为于高端，所以均价、中间价比市场基准价稍高一些。

卡尔加里2013年的房地产市场成交量、成交价格均会放缓步伐，但是仍然和全国总体房地产市场往下调整的态势大相径庭。 我们的市场并没有和其它城市一个步伐恢复，其实2012年才是卡尔加里二手房市场自2007年巅峰过后的第一次回归到正常市场水平。

预计2013年天然气行业会持续低迷，而石油行业又相当敏感，在这种大气候下，期待房地产市场大涨，好像不太现实。