Sean Tarpenning What are the 4 forces affecting the value of the real estate ?
1. Overall economy, and consumer confidence: Obviously, the stronger the general economy, and therefore the more consumer confidence, moreover belief, in a very strong, sustainable employment/ job market, the more, people, maybe ready, willing, and able, to pay, for a replacement home, of their own!
2. Interest Rates and realty taxes: Overall interest rates, are the key, to mortgage rates, and, the lower these rates, the lower, the monthly costs, for the homeowner. Even a somewhat minor, change within the rate, often, makes a major difference, within the monthly expenses. during this mindset, one must consider, property taxes, also, because, they factor into, the general costs, of homeownership, maintenance, etc.
Noah George
It knows what data is required. Good rental property software includes forms specially designed to collect the suitable facts and figures of a few properties. This is often particularly helpful to investors with little or no property analysis experience because they only fill within the forms and print.
It keeps the seller's data honest. Investors who have the power to run the numbers themselves prevent anyone from making an unrealistic presentation of the property and may be "slipping one" by.
3. Supply and demand: realty markets may well be considered, Buyers Markets, Sellers Markets, and/ or neutral ones! When there are more buyers than houses on the market/ sellers, it is a Sellers Market. 4. Local market: Much of realty, is local, in nature! Is your local area, - demand? What are the strengths, and weaknesses? How does your area, neighbourhood, location, etc, compare to other areas. Factors to think about include safety; schools; convenience to transportation, shopping, entertainment; land taxes; etc.