The latest Realtor.ca Insights Report was just released & inspired the topic for today's post.
First, let’s start with some messages I’ve received recently:
Thought you'd send cheaper places, I see all these on realtor.ca
Where is the rest of the information about this house
Where are the photos?
Maybe you’ve had similar thoughts & questions, so let’s talk about how the MLS® works:
Seriously!
A colleague recently posted in our realtor group about something that happened to their client who just purchased their home this summer...
Someone stole their central air conditioning unit! Cut the wires & hauled it away from the side of their house!
And they don't know exactly when it happened, because who's checking the air conditioning unit outside once it's turned off for the season?! Not me, that's for sure!
The more you know, the more you can protect yourself - share what you know & help protect others too!
Here's what I learned from the 55 responses in that thread that made me think that this was a good PSA to share:
I'm keeping today's post short & sweet, but it couldn't be a more important message!
Prices have come down since we hit the peak of the market earlier this year & when you're investing you want to take your advantages when & where you can get them. A "down" market is certainly one of those times. And on the face of it, some of the lower prices look very attractive, BUT now more than ever it's important to know your numbers!
This summer for example, a client of mine was looking for an investment property with very specific parameters & after each showing we stood at my car, with my laptop on the hood of it, & plugged the numbers into a spreadsheet I designed for him, to see if the numbers made sense - FOR HIM & what he was trying to accomplish. In the end, none of them did. And that was an important exercise because there was more than 1 occasion where he was ready to move forward on a property until we really broke down the numbers.
Analyzing an investment property is more than just the purchase price & interest rate.
I'm passionate about educating buyers & sellers so that they're successful in reaching their goals, regardless of what the real estate market is doing! #educate #empower #athomeindurham
