[last news letter to our property owners, for whom we manage their properties]
Hope you are finding the spring enjoyable. As the weather heats up so are the sales. We’ve assisted several more owners since our last communication in selling their properties at the highest price and in a short time frame. Others have taken us up on doing a property value analysis and many of the responses have been, “Not yet.” Or, “I need to wait maybe six months before I sell.” Or, “When the value comes in at $ ______, then let me know and I’m willing to sell at this price.” I did comps on one owners condo 6 months ago and now the value has come in at nearly $40,000 higher! These figures have surprised us too and have shocked other sellers. Take a look at the graphs below that visually show what the market is doing. Give us a call or email us to take your next step.
As you can see, the trend is upward. Now may be the time to buy as well, as some are concerned about being priced out of the market, or wondering if properties will every cash flow again. We also began to hear some of our clients buzzing about 1031 exchanges (tax free). Properties with equity, but a depreciated base can sometimes be parlayed into two or three properties that generate more cash flow and have potential for some great appreciation. Let’s talk soon to determine your next steps.
Keith Klassen, Broker