Know the Market During Relocation
The answer is simply Supply and Demand, the oldest economic principle in our history. A high demand for something, coupled by a low supply, will generally mean higher prices, and the higher prices will not diminish until either the supply increases or the demand decreases.
When we’re talking about real estate, this law provides some great opportunities for the savvy investor.
A recent study showed a very high demand and a very low supply of homes in the following cities: Seattle, New York, San Francisco, Boulder, and Washington D.C. Why the low supply? The main reason cited is because the geography of those areas does not allow for increased building. In other words, those cities are severely limited by a lack of space to build upon, and coupled with their increasing population, this situation will mean increasing property values for the next few years until a solution is found.
And that is excellent news for real estate investors in those areas, and for owners of luxury real estate.
This would fall under the category of “vital information” if you were considering a relocation to one of those areas. For many athletes, the question of “to buy or to lease” is one that must be addressed, and having a real estate agent who is aware of the particular market could mean the difference in millions of dollars. Where normally a real estate agent might caution against buying immediately after a relocation, they might strongly urge a purchase in Seattle or San Francisco because of skyrocketing values.
Sports Relocation, Inc. Sports Relocation, Inc assist players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.