Investment Property Focus: Finding a Property When Nothing is on the Market
Housing affordability issues and new mortgage rules have blocked some Canadians from becoming homeowners and resulted in a housing shortage in several areas of the country.
The Huffington Post reported that the GTA population has risen by 100,000 in the past year, and the housing market there is under severe pressure. A report from the Ryerson University Centre for Urban Research and Land Development also found a “missing middle” in the GTA — affordable, family-friendly housing.
The property search issues aren’t just limited to Toronto, either. Last year in Calgary, CBC News reported that of the roughly 9,500 that had been listed in the first six months of 2018, only 4,200 sold, putting the sales-to-listings ratio at 44%.
Less urban areas, like Prince Edward County in Ontario, are becoming more popular living destinations – and as such housing is becoming harder to find there, as well.
In markets like these, many real estate developers and investors knock on doors to get business. It can be hard to find suitable properties, especially in multi-unit residential and commercial real estate.
But there is a way that searchers can beat the odds and find a great investment property, even when the pickings are slim: by using the right tools.
For instance, when real estate investors and developers use a tool like GeoWarehouse, they gain a competitive edge. This is because GoeWarehouse’s property tools allow users to research areas and neighbourhoods to find opportunities and know more about the property before initiating contact.
With GeoWarehouse, you could:
- Estimate the property value using an AVM.
- Compare sales in the area to find a neighbourhood where properties are moving.
- Use a Demographics Report to learn more about who lives in a neighbourhood, including age distribution, marital status, ratio of owned/rented properties, and more.
- Use a Parcel Register* to find registered encumbrances on properties.
- Use a Property Details Report to locate and view a property you’re investigating from the comfort of your office.
- And much more.
Tools like GeoWarehouse can reduce the legwork and help you maximize your time and effort to find properties before they even hit the market.
Want to use GeoWarehouse to find investment properties? Become a subscriber today. Call 1-866-237-5937 or visit www.geowarehouse.ca.