The real estate market is constantly shifting, with investment approaches evolving as new market trends and area-specific information drive change. What worked 20, 15 or even five years ago may not work now or in the new year to come. Real estate investors who stay rigid and play by old rules may be outpaced by their more flexible, informed and relevant industry counterparts.
Pay Attention To Your Future Market Value
The market is always changing. What we’re seeing is that an increase in interest rates is affecting some price points more than others. If your FMV is falling in a range that is affected, allow yourself a 10% contingency in your spread for strategic pricing or underpricing, and give yourself enough margin to work with the offers that actually come in. Look at the renovation game as a quantity game. – Courtney Poulos, ACME Real Estate