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  1. Low-cost loans encouraging the construction of sustainable rental apartment projects

    The CMHC Apartment Construction Loan Program provides low cost funding to eligible borrowers during the riskiest phase of product development of rental apartments (construction through to stabilized operations).

    The program offers loans ranging from a minimum of $1,000,000 up to 100% of the cost of the residential component.

    The program focuses on standard rental apartment projects in Canada with general occupants where there is a need for additional rental housing supply.

    Note: This program does not support construction of niche housing types such as retirement homes, single room occupancy and student housing. To learn about funding for niche housing types, please visit mortgage loan insurance for affordable and market rental housing.

    Source: other
    22-12-2023

  2. McCredie making significant investments following the purchase of the 40-year-old brand

    Residential real estate firms continue to keep close tabs on the data they share with clients and the public. Statistics are closely guarded by the major real estate associations, with licensed agents holding on to information the real estate associations considers proprietary.

    “Canadians are some of the worst-served consumers of real estate when it comes to public data related to real estate. I think it’s the worst in the developed world,” said Ross McCredie, principal of McCredie Investments, served as chief global strategist to San Francisco-based Pacific Union International Inc. and CEO of its subsidiary, The Mark Company, from 2016 to 2020 following his sale of Sotheby’s International Realty Canada Ltd. in 2015.
    By Peter Mitham
    21-12-2023

  3. Sutton Group: New owner McCredie

    Vancouver-based McCredie Investments has completed the purchase of Sutton Group Realty Services Ltd. with plans to aggressively grow the brand throughout the country.

    Sutton Group is a Canadian-founded brokerage operating 200 offices nationwide with a team of over 6,000 agents and annual sales volume surpassing $35 billion. There are about 115 franchise owners across Canada.

    Ross McCredie, principal of McCredie Investments — a boutique investment and advisory firm focused on “cutting-edge real estate services and technology” — confirms the deal closed this week.
    By Mario Toneguzzi
    15-12-2023

  4. B.C. Financial Services Authority says Pacific Evergreen Realty agents and brokers not complicit in fraud

    A fraudulent scheme that saw an unoccupied home in Richmond, B.C., sold without the owner's consent has led to more than $300,000 in discipline penalties and costs for the real estate agents and brokers involved.

    According to a notice from the B.C. Financial Services Authority (BCFSA), the Pacific Evergreen Realty agents and managing brokers involved in the 2019 sale were not complicit in the scam, but "they failed to take reasonable measures at multiple points in the transaction."

    The BCFSA says at least two men were involved in the fraud. One posed as the owner of the house and used a fake driver's licence to get a notarized power of attorney, while the second posed as the attorney to conduct the sale.

    By Bethany Lindsay
    14-12-2023

  5. Cottage Country - Will Home Prices Bottom Out in 2024

    As the Bank of Canada’s rate hikes caught up to homeowners, the 2023 Canadian housing market was characterized by tightening affordability and buyer uncertainty. 

    We’ve already seen many would-be buyers return to the sidelines this fall, with month-over-month sales plunging in October by 3.4% nationally, and unless prices come down, those buyers won’t be enticed to re-enter the market for non-essential purchases. 
    By Mackenzie Scibetta
    13-12-2023

  6. For Better or for Worse

    Single family zoning is now eliminated throughout the province in areas with a population greater than 5000 people. It doesn’t mean you can’t building single family houses anymore, it just means you can’t restrict multiple units on a single family lot. Here’s the coles notes to share with your buddy at the water cooler:

    • Municipalities have until June 30, 2024 to update their zoning bylaws to comply with the legislation.

    • All single family zoning must allow one secondary suite and/or an ADU (accessory dwelling unit, also known as a coach house or laneway)

    • All single family zoning must now allow a minimum of 3 units on a lot size 3000sqft or less

    • Allow a minimum of 4 units on lots larger than 3000sqft

    • Allow a minimum of 6 units if within 400 meters of a bus stop and the lot must be larger than 3025sqft.

    • Minimum of 3 storey building height 

    • Sets out recommended legislation for minimum site coverage depending on lot size

    • Sets out recommended legislation for maximum parking requirements
    By Steve Saretsky
    11-12-2023

  7. RIFO’s one-stop-shop approach to real estate is changing the landscape for clients and traditional brokerages

    One of the largest merger and acquisitions in Canadian real estate history will connect RIFO, a leading technology-integrated platform for home-related services, with British Columbia real estate powerhouse Sutton Group Management.

    The deal, finalized on Nov. 1, merged the brokerages under Sutton Group Management and RIFO, and included the acquisition of seven other brokerages in B.C., taking ten months to complete.
    By Bridget Stringer-Holden
    08-12-2023

  8. Investment firm McCredie set to acquire Sutton Group in Metro Vancouver real estate shake-up

    Sutton Group, headquartered in Burnaby, has 200 offices across Canada supporting roughly 6,000 agents delivering an annual sales volume of more than $35 billion. 

    It’s now under the leadership of real estate entrepreneur Ross McCredie, principal of McCredie Investments. 
    By Claire Wilson
    07-12-2023

  9. UNSTOPPABLE HOUSING MARKET CRASH

    This housing market crash may be worse than The Great Depression. @peterschiff talks about the dire state of the U.S. economy, and how the Federal Government created a massive housing market bubble they can't fix.

    By Peter Schiff
    26-11-2023

  10. The speculation and vacancy tax is working

    The speculation and vacancy tax is working – it has returned over 20,000 empty condos in Metro Vancouver alone. We're taking action to turn more empty units into homes for people by expanding the tax to 13 new BC municipalities. 

    An action plan to meet the challenges of today and deliver more homes for people, faster. Look at the breakdown of the plan here.

     
    Source: other
    23-11-2023

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