Fundamentals - Why Won't My Property Sell?
Posted by Tim Bray on
Over the past decade, as pricing began to inflate artificially, we were lead to believe that the real estate market was lined with gold. All of the fundamentals no longer seemed to matter. Values of commercial properties were no longer correlated to income but to projected future appreciation. Residential properties were experiencing a similar scenario where you could not lose. People were anticipating that the market would forever increase and the Market Value of their properties would do nothing but compound.
Some of the fundamentals ignored were as follows:
Competition: If a certain type of property is introduced to an area and begins to sell at higher than normal prices then this will cause other properties of similar caliber to be built in hopes…
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