Hello, Hamilton Real Estate Investor!
Have you seen these stats?
Before we analyze these numbers, permit me to digress a little.
If you’ve been following me for some time, you’ll know that I can be very frugal 😏
Part of it is that I look for a return on every dollar I spend; so many expenses simply aren’t worth it to me.
For example, my wife and real estate Accountant, Cherry, loves Starbucks. She has a couple every week. Sometimes when she’s ordering, she asks if I want anything.
Usually, my answer is no.
However, on the days when I could use the caffeine pick-me-up, maybe when we’re starting a road trip taking the kids somewhere like a cottage or up north skiing, I’ll say yes.
But I still won’t get my own drink; I’ll ask Cherry to upsize her drink order so I can share.
Upsizing costs about $1-2 vs my own drink would cost $6-7.
My point is numbers drive decisions!
That said, let’s get back to some of the latest numbers we are seeing in the real estate market:
From the stats above, you’ll see that real estate property prices keep rising.
According to the Realtors Association of Hamilton-Burlington (RAHB), the average price for residential properties across the RAHB market area was $1,104,163.
That is an increase of 4.2% over January and 30.3% compared to February 2021.
30.3%!!!
Now, as an investor, you have to make a decision. Is now the time to enter or exit the market OR simply wait. While no one can predict the future, what we can do is have a look at the past.
In a previous article, I shared how our investment properties performed in the last ten years. READ IT HERE, and see how much we were paying for houses in 2012 compared to today.
Whatever decision you make, it is essential that YOU TAKE ACTION on what your analysis is telling you.
The real estate market is crazy, so ensure you work with an experienced Realtor to help you navigate the market.
Being part of a team of Realtors, we will continue to keep our fingers on the pulse of the market.
We’re already starting to see a steep fall in the number of offers on investment properties, not just in the Hamilton real estate market but across the board.
We will, of course, go into the subject more in-depth as part of our Lessons for the Street at our upcoming real estate monthly meetup on Saturday, March 26th.
If you’re looking to optimize your real estate investments, I can’t recommend enough that you JOIN US.
Those on my email list will be invited to register. If you’re not on my email list, you can join tens of thousands of like-minded Canadian real estate investors by filling out the form below.
