The Pros and Cons of Using a House Buying Company when Selling your Home
House buying companies, a new option
I received the note above in my mailbox a while back. A friend across town received one too. Maybe you got one?
I’m always interested in non-traditional home buying and home selling techniques. My favourite is still a company that used to advertise along Highway 6 with a billboard that read, “We buy ugly houses!”
- Q: Does that really work?
- A: I haven’t seen that type of advertising for a while so I suppose not.
Property investors, in my experience have a hard time competing in a Seller’s Market. With two or twenty other offers trying to buy a property, investors looking for their next flip or cash flow, ROI… focus too much on profit and loss statements and are unlikely to throw caution to the wind when bidding gets crazy.
That makes sense. They are only in it for the money.
But property investors are also sometime well connected and cash rich. Home sellers looking for a quick sale clearly have a new option. If you believe the note that says 42 happy sellers have used their service ( I do) then read on. LINK
Six Real Estate Investing Mistakes Beginners Should Absolutely Avoid:
Paying Too Much
Not Doing Due Diligence
Not researching local demographics and locational influences
Not Knowing Your Objectives Before You Go Shopping
Not Estimating The Cost Of Value-Adds Correctly
Not Applying For The Right Loan
What’s happening with 3-bedroom homes in UpTown?
In this episode of “What’s happening with…” we look at 3-bedroom houses in UpTown Waterloo, specifically Uptown/North Ward and the other side of King Street – Uptown/Westmount. We start off as always by looking at the MLS historical data for Kitchener-Waterloo as a whole.
Top Stories: Kitchener Waterloo Real Estate Market Report for January
Nothing has been typical about our housing market for a long time. January’s home sales were more active than what we typically see this time of year.
There were 351 residential homes sold in January, an increase of 24.9% compared to January 2020.
The previous 10-year average number of residential sales for January is 286.
Total residential sales in January included 201 detached (up 31.3% from January 2020), and 71 condominium units (up 97%).
In January, the average sale price of all residential properties sold in 2021 increased by 23.9% to $695,582 compared to the same month last year.
The average price of a detached home hit a new milestone by exceeding $800K for the first time at $853,945 an increase of 27.3%.
The average sale price for an apartment-style condominium was $383,196 for a decrease of 1.4%.
Townhomes and semis sold for an average of $566,345 (up 29%) and $626,512 (up 29.3%) respectively.
The median price of all residential properties sold in January increased 25.9% to $680,000.
The median price of a detached home during the same period increased 23.3% to $801,500.
The number of months of inventory in Waterloo region has remained below 1 month since October.