One of the most pervasive challenges facing the residential real estate market is determining property values. When it comes to residential property, most end-use buyers think in the same terms as renters: Monthly housing expenditure.
The #1 location that supports the highest property values is adjacent to a large body of water, such as an ocean, lake, river, stream, or wetlands region.
Ironically, water can also cause the most damage to real estate due to flooding, mold, and storms. As such, water can be a property’s best ally or worst foe…
One thing I’ve learned over the years and after closing hundreds of deals is that there are ways to cut down the amount of offers you write and save yourself a lot of time.
But there’s much more to this strategy than saving time. You’re building trust and rapport with the sellers, which will increase the likelihood of them signing your offer!
Population trends, job growth, and access to capital are three of the primary catalysts for any type of boom or bust housing cycle. Money and jobs attract people. People need a place to live.
So pay attention the numbers, such as home values, vacancy rates, and most importantly, the direction of the population…
Investors who focus on higher-priced, affluent regions may find themselves competing with wealthy (foreign and U.S.) investors and multi-billion dollar hedge funds.
Investors who target properties at or below median price levels should learn more about the mortgage-qualifying trends because either way, we all need money to get in the game…
One of the biggest reasons for failing to put a contract together with motivated sellers is that they’re not realistic on price. For one reason or another, they feel that their house is worth much more than it is.
You really can’t blame them. They are most likely uninformed and looking out for their own best interest–to get the most money possible.