posted on April 24, 2014
Residential sales activity reported through the MLS® System of the Saint John Real Estate Board numbered 101 units in March 2014. This was a 13 per cent decrease from a year earlier.
“Home sales fell back in March following the rebound we saw in February,” said Sheila Henry, President of the Saint John Real Estate Board. “Taken together with the quiet month of January and strong month of February, activity...
posted on April 21, 2014
Private jumbo mortgages could soon become harder—and pricier—to get.
New rules announced last week by the Consumer Financial Protection Bureau will tighten lending standards in the private-mortgage market. The changes, which start in 2014, will ban lenders from issuing loans if they don’t verify a borrower’s income or assets.
The CFPB rules are meant to ensure that home buyers have the ability to...
posted on April 18, 2014
Private lending secured by mortgages against real property represents a significant area of activity within the residential real estate market.
There are a multitude of reasons why borrowers seek to obtain financing from private lenders. These include:
greater restrictions on traditional bank and trust company lending requirements, such as loans based on land value rather than borrower income;
posted on April 17, 2014
The announcement comes on heels of new provincial forestry strategy being unveiled. The $450 million in upgrades at the Irving Pulp & Paper mill in west Saint John be done in two phases, starting this spring.
J.D. Irving Ltd. is investing $513 million in its mills across New Brunswick, the company announced to a standing ovation at its west Saint John pulp and paper mill on Thursday.
The announcement comes...
posted on April 1, 2014
Attitudes have serious, real-world consequences; change your attitude and you change your world.
Currently visible signs of positive change and rebirth in Saint John – changes that are consolidating our status as New Brunswick’s economic powerhouse – are not difficult to discern. In no particular order of importance, here are some of my favourites:
A new municipal plan, focused on complete neighbourhoods,...
posted on March 20, 2014
When real estate investors pursue funding, one of the last places they look to is private lenders. In fact, most investors often view private lending as a big no-no, or at least the very last stop on the road to real estate investing. But new regulations and restrictions from traditional financing have influenced a trend in recent years and months of savvy property investors changing their view of private lending....