Thursday, May 27, 2010

Crowsnest Investment Property

The real estate market in Canada is changing faster than ever. Depending on where you are located the property values may have increased, declined or stabilized over the last year or two.

Due to this variance, Realtors like to remind their clients that all real estate is local, and that national trends summarized in the news media can often be out of sync with what is happening in your area. So it is a good idea to consult a real estate salesperson for local insight when thinking of making a move, or when considering the purchase of an investment property.

The inventory of homes available at reasonable prices, coupled with today's record low interest rates, has many people considering investing in a second property. After all think about how many times you have heard someone say "I should have bought when prices were down... look at what that place is going for now!!"

A psychological advantage for many people investing in real estate is the knowledge that they are investing in something tangible. Unlike "paper" investments, which can fluctuate on a daily basis, property is something investors feel more in control of... it has a more stable value.

A practical advantage for today's real estate investors is the low interest rate they may be able to negotiate, allowing more of what they're paying toward their mortgage to go toward paying off the actual loan, instead of the interest.

If you are considering a second property as an investment, you will need to talk to seasoned professionals, such as a lawyer, an accountant and a local real estate salesperson, to make sure that you are clear on all of the issues involved.

If you are interested in discussing the real estate environment as it pertains to you, please feel free to contact me at 403-564-4518.

Best Regards,
John


John Prince, Alberta licensed real estate agent, Century 21 'The Professionals'. Serving the Crowsnest and area. Call me directly at 403-564-4518 or by email at: johnprince@shaw.ca

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