A friend recently told me the story of an elderly couple who sold their 2,700-sq. ft. home through a “friendly industry agent” on the day that the property was precise. The home sold for $279,000 firm, which was the asking price. The kicker is that similar homes within the neighbourhood sold for around $100,000 greater. This reminded me of elderly neighbours of mine who sold their home last every 12 months. The home was on a 100-ft. Lake Ontario waterfront lot and it sold time they listed it for $259,000. Similar homes on our street would sell for substantially additional that, these people ever came on market.
Example 1: A Real Estate investor got a new tax lien certificate on the commercial property for $12,000. The household owners were unknown, and all of the required notices were transmitted but there no redemption. The certificate holder acquired the Real Estate which was appraised in excess of $365,000. The return on investment in this real estate investor was over 30 times his initial commodity!
This previous paragraph simply illustrates the fact that not all markets reflect the national average. So, how anyone avoid the circumstances same mistakes as those that invested previously Las Vegas market?
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