Episode 75: Matt and Taylor are joined by Jamie Squires. Jamie is the President and Managing Broker at Fifth Avenue Real Estate Marketing from Surrey, BC, who's a new home development specialist with over 20 years experience. Her expertise lies in helping shape communities through thoughtful design decisions, including unit mixes, building placement, and floor plan layouts. Fifth Avenue Real Estate Marketing's portfolio boasts over $10 billion in sales, accumulating over 200+ local and national awards spanning the past four decades.
Jamie is here to discuss:
→ Penticton's Sokana project, the pre-sale process for a customer including deposit structure and current incentives, and other projects they're working on right now.
→ The importance of reading your disclosure statements, outside dates for completion and how they can be extended, and how developers now need 75-80% of a project pre-sold before banks will release funding.
→ The STR (short-term rental) legislation impact on Penticton and a STR loophole, fractional home ownership and the BC RTA (residential tenancy act), and how pre-sales have been affected by the anti-flipping tax.
Fifth Avenue Real Estate Website: https://www.fifthave.ca
Fifth Avenue Real Estate Instagram: https://www.instagram.com/fifthavenuerem/
Fifth Avenue Real Estate Linktree: https://linktr.ee/fifthaverem
Sokana Website: https://www.liveatsokana.com
Jamie Squires' Instagram: https://www.instagram.com/jamiefifthave/
Jamie Squires' LinkedIn: https://www.linkedin.com/in/jamie-squires-09454430/
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CHAPTERS
0:00 Intro
4:29 Today's Guest: Jamie Squires
5:52 The Sokana project in Penticton
7:51 STR (Short-Term Rental) Legislation Impact on Penticton
9:56 The STR (Short-Term Rental) Loophole
11:29 Fractional Home Ownership & the BC RTA (Residential Tenancy Act)
13:26 The Pre-Sale Process for a Sokana Customer
16:10 Deposit Structure and Current Incentives at Sokana
16:29 How Phase 2 of Sokana is Going
17:13 Other Projects Fifth Avenue is Working on Right Now
17:48 How Much Appreciation is Added to Your Unit if the Building Has a Pool?
19:43 Additional Projects in the Lower Mainland
20:26 Disclosure Statements
23:55 Why Don't Developers Pick More Realistic Dates for Completion?
27:31 Wrap-Up Questions
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OUR SPONSOR
The Kelowna Real Estate Podcast is brought to you by Century 21 Assurance Realty, the gold standard in real estate. To learn more, visit: https://www.c21kelowna.ca
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CONNECT WITH THE SHOW
Kelowna Real Estate Podcast: https://wavve.link/kelownarealestate
Kelowna Real Estate Podcast YouTube: https://www.youtube.com/@KelownaRealEstatePodcast
Kelowna Real Estate Podcast Instagram: https://www.instagram.com/kelownarealestatepodcast/
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CONNECT WITH MATT
Matt Glen's Website: https://www.mattglen.ca
Matt Glen's Email: matt.glen@century21.ca
Matt Glen's Instagram: https://www.instagram.com/mattglenrealestate/
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CONNECT WITH TAYLOR
Taylor Atkinson's Website: https://www.venturemortgages.com
Taylor Atkinson's Email: taylor@venturemortgages.com
Taylor Atkinson's Instagram: https://www.instagram.com/venturemortgages/
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