How to choose a Kamloops income property
Posted by Steve Harmer on
There are quite a number of variables to consider when purchasing a residential income property.
You’ll likely want to eventually engage with a real estate agent, but prior to doing so it is important to conduct as much research as possible. Remember to approach the purchase with an unbiased attitude and evaluate your options based on factual information.
Here’s a look at some of the top variables to consider when evaluating potential properties.
1. Economic outlook. Locations that are seeing employment growth will typically have more people moving to the area – this should also increase the potential renter pool. Conversely, locations that don’t offer as much employment opportunity or have/will see large employers leaving town, will often…
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During a recent visit to New York, Simon Henry chatted with a real estate broker who was trying to negotiate the sale of a Manhattan apartment to a wealthy buyer from China. The seller refused to drop below $5.2-million (U.S.) and the buyer was equally adamant that he wouldn’t go above $5-million.
Private buyers – both local and foreign – and, to a lesser extent, institutional investors and REITs, were increasingly willing to accept record pricing and highly compressed capitalization rates as the cost of entry to British Columbia’s coveted multi-family real estate market. 
Usually, market value is determined by what a buyer is willing to pay for a home, and what the seller is willing to accept. The recent agreed upon sale price of a home is usually the best determinant of a property's market value. However, there are circumstances where the price paid for a home is not the true market value. For example, there may be a special relationship between the parties which resulted in a much lower value being paid. Also, a buyer may have been willing to pay a premium for a property for some reason, and so it sold for much more than it would otherwise be worth.
finds the average home sold for $502,643 during the third quarter of 2015 — an eight per cent increase from a year earlier.