Thursday, August 08, 2013

Numbers not media for investing

"The West Coast actor turned real estate guru says investors should concentrate more on what is happening in their backyard than what the mainstream media has to bemoan about the property market.

The RE/MAX agent says when he purchased his first property in Vancouver in 2000, the media then was also giving buyer pause for thought."

“Based on the media reports then, I was convinced I bought it for too much,” he says. “The same is happening now with all of the negative press with people unsure whether to buy or not.

“I do read all the news reports, but I concentrate more on what is happening in my own backyard and locality. You need to make your own decisions and not base decisions on general reports.”

I'm not supporting the source, just the comment... It's not a Canadian Real Estate market, it is a local market. We've said that for years.

You should rely on economic data, local data, your city's local politics and of course the property to tell you what is a good buy and what is not.

I'm from Vancouver and what the news (negative) is saying and what the market is telling me in certain target neighbourhoods is don't buy outside of my specific niche or don't buy at all.

There are good deals in bad markets and bad deals in good markets. Read More

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