 |
|
Value is the most important part of investing in real estate. In the last few years, we have experienced an unusual real estate cycle. During 2005, there was a 50% increase in value across the board. Currently, we are adjusting to normal levels of appreciation and seeing declines, stabilized pricing, and long days on market. But let me assure you, the golden rule needs to be applied when buying your investment property during our current market trend~ location, location, location. Where is the property located? Is it a far commute from employment, shopping, restaurants, and freeway systems? Is the property in a desirable location in the community; near parks, basketball courts, play equipment, open park spaces, lakes, a clubhouse? More importantly, does the home back a major road, power-lines, or a commercial project? When there are over 50,000 homes on the market, compared to 6,000 homes in 2005, end-users get very picky about the location of their home in the subdivision. Would you want to back power-lines if you had sixty other options in the immediate area? If the property is in a desirable lot location, it will sell faster and you probably won’t have to do as much improvement to make it sell . Valuation is simple~ appeal to the masses. This holds true for location, color schemes, floor-plans, landscaping, etc.
|
