One of the things I appreciate about real estate is learning from other people’s mistakes, especially when homeowners are unable to sell their home quickly for top dollar. 

Apart from the price, location and features that can determine how much and how fast a home sells, there is another important factor that I see all the time that most sellers forget. That factor is not understanding the buyer market, specifically not knowing who their target buyer is to purchase their home. When this happens, they place their home on the market that is overpriced or is not properly prepared and marketed to attract the right buyers. As such, their home stays on the market for a long period of time with no interested buyers and eventually doesn’t sell.

If you are an owner of a small home with a garage and a decent backyard, having this buyer profile information available to you provides you with a competitive advantage over other homeowners selling their homes. Furthermore, this inside information can help you strategically market and promote your home that would immediately attract the right buyers.

Knowing and understanding the needs of your target buyer market plays a critical role in determining how long and how much money your home will sell for. You can find out details about your target buyer market through various sources, such as a trusted, experienced realtor who has access to housing market information. As well, you can refer to the following housing and demographic information sources: 

Canadian Mortgage and Housing Corporation Housing Market Outlook – Ottawa
https://tinyurl.com/yb8lsdms
 
City of Ottawa Annual Development Reports
https://tinyurl.com/y8fl6nk6

Myself and Anita are excited as we finalized our summer vacation plans where we will be heading to St. Lucia for the first time at the end of July until the beginning of August. We will be visiting the world’s only drive-in volcano, some rain forests and cultural festivals! Stay tuned for photos of our trip to this beautiful, picturesque Caribbean island paradise. ☺

Enjoy the newsletter!

Michael B. Arthur

         While real estate also follows a cycle, it tends to be a much more gradual one.  Investing in revenue properties offers us limited immunity from fluctuation. 

         This means that you don’t tend to see the massive ups and downs of the stock and commodity markets.  It’s a much gentler ride, and tends to provide very solid returns on investment over the long run.  This is another reason I prefer real estate investing over other kinds of investments.