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When host George Stroumboulopoulos and producers of the CBC TV show The Hour needed an expert to put today`s real estate market in perspective, they called on a guy named Don Campbell.
A Vancouver-based real estate consultant who studies the Canadian market, Campbell may not exactly be a household name.
But appearing on the popular The Hour, whose audience is largely young Canadians – many of them in the first-time homebuyer demographic – in March, with another appearance tentatively scheduled for early June, Campbell simplified for many the often complex factors that influence real estate performance. Most of his research is marketed to his more than 3,100 paying members of his investment club, Real Estate Investment Network, who own about 23,000 properties worth $2.6 billion.
But whether you`re a seasoned homeowner or a first-time buyer looking to time your entry into the market, the same principles apply.
It`s all about economic fundamentals: population growth, increasing average income and property affordability. Base your home-buying decision on these factors, Campbell says, and you`re off on the right foot.
"Instead of falling in love with a particular property, fall in love with the potential of that property," Campbell says.
Indeed, `location, location, location` is the most cited rule of thumb for buying real estate – meaning that your home`s proximity to amenities such as schools, shopping and transportation will go a long way to determining resale value. But in today`s climate, with economic uncertainty combined with seemingly weekly reports of declining home prices, you need a lot more than that. Timing of your purchase, and the information you use to guide your selection, are critical.
Read the full article here.
A Vancouver-based real estate consultant who studies the Canadian market, Campbell may not exactly be a household name.
But appearing on the popular The Hour, whose audience is largely young Canadians – many of them in the first-time homebuyer demographic – in March, with another appearance tentatively scheduled for early June, Campbell simplified for many the often complex factors that influence real estate performance. Most of his research is marketed to his more than 3,100 paying members of his investment club, Real Estate Investment Network, who own about 23,000 properties worth $2.6 billion.
But whether you`re a seasoned homeowner or a first-time buyer looking to time your entry into the market, the same principles apply.
It`s all about economic fundamentals: population growth, increasing average income and property affordability. Base your home-buying decision on these factors, Campbell says, and you`re off on the right foot.
"Instead of falling in love with a particular property, fall in love with the potential of that property," Campbell says.
Indeed, `location, location, location` is the most cited rule of thumb for buying real estate – meaning that your home`s proximity to amenities such as schools, shopping and transportation will go a long way to determining resale value. But in today`s climate, with economic uncertainty combined with seemingly weekly reports of declining home prices, you need a lot more than that. Timing of your purchase, and the information you use to guide your selection, are critical.
Read the full article here.