Hello Hamilton Real Estate Investors and Happy New Year!!
I hope you’re all looking forward to your best 2016!! I know you super successful Hamilton real estate investors already had your 2016 goals written down in November/December like we did! If not, get your new year resolutions written down because we’re starting the year off right at the upcoming Mr. Hamilton Inner Circle Meeting where guest speaker, certified performance coach Ryan Hindmarsh, will be teaching us why goals often fail and what we’re doing wrong with goal setting. He’s even going to dissect the goals of two veteran investors LIVE so we may all benefit!
While reflecting on what a wonderful year 2015 was, I looked back at the people and events that made it all possible. I reached out to my ex-wife to thank her and her father for recommending that I read the book Real Estate Investing in Canada by Don Campbell. That same year, we all attended our first ACRES weekend (short for Accredited Canadian Real Estate Systems) in 2009. We already owned three properties at that time but we were flying by the seat of our pants making numerous, very expensive mistakes and that all stopped when we became REIN members and learned more about how to treat our investments like a business.
So, I texted my ex-wife to thank her and her dad, provided a brief update of my side of the world and attached my REIN award photo (Thank you REIN for the lovely photo!). Â Even though getting divorced really sucked, the experience I gained was integral to who I am today and for that I am grateful. It’s also nice to be able to let those know who didn’t support your decision to leave a great corporate job in Toronto for the uncertainty that is entrepreneurship and Hamilton real estate that my calculated risk worked out OK. 🙂
After record-breaking 2015, look for Hamilton housing to stay hot this year
Full Article Here:Â http://www.cbc.ca/news/canada/hamilton/news/after-record-breaking-2015-look-for-hamilton-housing-to-stay-hot-this-year-1.3386362
Below are some quotes and my thoughts to summarize the article:
“Prices and sales are rising at close to double-digit levels, which is unsustainable,” said TD economist Diana Petramala. “Double-digit (growth) doesn’t typically tend to last for too long. But Hamilton is definitely expected to be one of the outperforming markets.â€
- When choosing where to invest, I definitely want to invest in a market that will outperform others.
Should I buy?
Hamilton housing prices will most likely rise in 2016, the economists interviewed for this story all said. On-the-fence would-be buyers may take that as a cue to try to jump in.
- Hamilton real estate is NOT getting any cheaper. The longer you wait, the more you pay for the same house.
Should I sell?
If you’re looking to profit from the huge upswing in prices, consider that the gangbusters increases in prices are expected to level off somewhat next year. Petramala and TD economists project prices will rise around 4 per cent in Hamilton compared to 2015. That increase is close to what they’re projecting for Toronto and Vancouver, the two hottest markets in the country, she said, but down from 9 per cent this year.
- Price appreciation to be inline with Toronto but you pay 1/3rd of the price for a house in Toronto and Hamilton investment properties rent for around 80-90% of the same house in Toronto. Any wonder why Hamilton is an investor’s paradise?
“The market has been definitely tilted toward sellers this year. It’s too early to tell what impact the coming condo developments will have on the supply-demand balance.â€
- Fingers crossed with the record number of condo apartments coming available, that will bring balance to the land based, freehold housing we focus on. As seen from Toronto and GTA, the condo vs detached home markets track very differently with the latter appreciating considerably more than the former.
Whatever you decide to do, buy or sell, do know that we can help in either area.
Thanks for reading and happy Hamilton real estate investing everyone!
Erwin Szeto |Â MrHamilton.ca
Sales Representative
Rock Star Real Estate Inc., Brokerage
Ph: 905-361-9098
