What happened in the Woodstock market in February 2019?
Strong Sellers Market conditions continued! That's what!
I am a Real Estate Broker with RE/MAX a-b Realty Ltd., in Woodstock Ontario, focused on high quality Real Estate services. My experience selling homes is rich, and my results are unparalleled. My clients attest to my commitment to high quality service.
In 2017, single family homes listed for sale by Ben averaged 104.1% of asking price, compared to the market average of 99.2%, and sold in an average of 12 days compared to the market average of 29.
The REAL Ben:
Born and Raised in Woodstock Ontario, I am intrinsically connected with the community. When I am not selling Real Estate for my clients, I can be found hanging out with my family. My wife, Amanda, my sons Nolan and Liam, and our mutt, Nori.
My family enjoys biking the awesome trails around Woodstock, having dinner at one of the many Oxford County establishments, playing golf at one of the many area courses, and the accessible, inexpensive nature of life in Woodstock.
My rural life keeps me busy, maintaining and upgrading our home just outside of the city. When I have spare time, I like to listen to music, play some guitar or video games, and stay up to date on the latest memes.
My family loves to travel, and recent trips include a bucket-list-checking voyage to New Zealand and Australia in 2018, a road trip to Acadian Shores Nova Scotia the year before. Upcoming goals include another east coast visit to PEI and New Brunswick.
We love visiting the family cottage in Port Loring, On, where I pretend to know how to catch pickerel and wakeboard. Really I just secretly like quiet hours floating on a lake.
One thing I need to mention, though, since you've read this far, is that the true joy I get from my position as a Real Estate Broker, is crafting excellent strategies to capitalize on current market conditions for the benefit of my clients. Taking an idea, strategizing to minimize stress and maximize opportunites given in the market, and turning it in to a reality brings me great happiness. Let's get happy together!
A Landlord can retain a maximum deposit of one month’s normal rent.
A Landlord is obligated to pay the tenant interest on the rent deposit every year. The applicable interest rate is always the same as the Rent Increase Guideline as discussed above.
Subject to a few exceptions, a tenant’s rent can only be increased 12 months after the date of the last rent increase or the date a tenant first moves in. A tenant must be given written notice of a rent increase at least 90 days before it takes effect.
Choosing a Tenant
3 Common mistakes people make when buying investment property
1. Bidding too high or getting into bidding war. If you over pay on a property, it already seems like a bad investment.
2. Buying a fixture upper that’s a great price but ends up costing more than it’s worth with renovations
3. Not getting a pre-approval. Just because you have 20% downpayment saved doesn’t mean you’ll be approved for the mortgage amount you’ll still need.
Info Provided by:
5 things to remember when buying an investment property.
Average Sale price, down 1.4% to $375,183
Median Sale Price, down 4% to $369,900.
Number of Homes for sale, Up 34.2% to 98 Homes for Sale
# of Homes Sold, equal to last year, at 43 Homes sold.
There are different schools of thought when it comes to evaluating investment real estate. Some people just want to know if it is "cash flow positive." Some people are looking at the CAP rate, and some more-savvy investors might want to know something called the CAP-X rate.
Do you have a company pension? I don't.
That's why, several years ago, I started buying investment real estate. My goal is to own $2,000,000 worth of investment real estate by the time I retire.
The logic is simple. If you can buy early, and often enough, you should be able to own, free and clear, $2m worth of real estate by retirement age.
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