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Calgary Real Estate Round Up - Week of June 24 - 30, 2013. Special Flood News Edition

Posted by Calgary Home Team on Monday, June 24th, 2013 at 5:13pm.

Calgary flood 2013Read all about it! Don’t miss the most important events in Calgary real estate news for the week of  June 24 - 30, 2013.  Compliments of the Calgary Home Team.

Flood Legal Real Estate Advise - CREB

Buyers and sellers of houses affected by flood are strongly advised to seek legal assistance as Lou Pesta, the senior associate at Walsh LLP says. All parties should refrain from exchanging house keys until the emergency state is completely lifted, and after they have consulted with their lawyers to resolve any legal issues!  While all concerns are addressed on case-by-case basis, Pesta reminds agents and sellers of section 5.1 of the purchase contract that says " Risk of loss or damage to the property shall lie with the seller..." he further advises clients to extend insurance coverage if they have already canceled, based on the revised anticipated closing date! Homeowners should contact their insurance company for claims in matters relating to property damage or loss!  

Re-energizing Flooded Downtown Buildings in Calgary: Electrical Inspection is Required - Calgary Sun

Work on re-energizing Calgary downtown core, from 9 Ave South to the Bow River between 14 St. S.W. and 6 St. S.E, will continue over the next five days! The area has been divided into five grids, with work starting in the the least affected grid north of 4 Ave. S.W. to the Bow River between 2 St. S.W. and 8 St. S.W. The flood caused damage to 3,099 buildings in downtown, most of them are under three-feet of water that require pumping. Electrical inspection is a MUST before power can be fully restored, as Bruce Burrell, director of Calgary Emergency Management Agency said. About 24,000 homes and businesses are without power now in Calgary, 11,000 are in the downtown, and 13,000 are in other parts of the city!

Alberta Starting First Phase of Flood Recovery with $1 Billion Funding - CTV News

Government of Alberta is providing $1 Billion dollars for flood recovery funding with spending priority placed on infrastructure,  relief centres,  and supporting families who have been evacuated from their properties. Qualified residents will receive pre-paid debit cards with $1,250 per adult and $500 per child to satisfy their immediate living expenses needs! While evacuation orders have been lifted for almost all homes outside downtown Calgary, residents are advised to stay away from downtown area that still has almost 4,000 buildings affected by flooding. There is still no LRT Service there, but cleanup process has already started, with plans to re-open in stages.  

Calgary developer Qualico opening some showhomes to families and seniors displaced by flood - Calgary Sun

In a very welcoming initiative, Western Canada Qualico development company is opening some of its showhomes to provide the much needed temporary shelters for families and seniors evacuated from their properties because of the flood in Calgary! The company officials are working closely with the Calgary Emergency Management Agency on the best way to prepare the showhomes with all the necessary items needed in such situations! The company's relief support will extend to include hiring summer students to help in community clean up, and providing manpower and resources to the Stampede board. It is anticipated that the the showhomes will be opened for two or three weeks, though the number of homes opened is not known yet!   

 

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