Is it possible to find a great deal on Calgary MLS® (multiple listing service) System? Yes, but it takes patience and the help of an experienced REALTOR®. Calgary real estate prices have been rising up until the end of 2014 and only few homes were available for sale, which made it harder to get a great deal from the MLS®. Our Investor Clients buy many properties to fix and flip and hold as rental properties and 90 percent of the purchases are from the MLS®. In 2014 we found 2% of the MLS® listings were priced 10%-15% below market. This year, the economic climate is expected to cool off the housing market, and it could create more opportunity for Real Estate Investors.
How do you find these great deals on MLS®? Most investors think that there are no good deals on the MLS® anymore and there is too much competition. Since the Multiple Listing Service is the main source for properties for sale, it is true that there are many people trying to get a great deal off the MLS®, but that doesn’t mean it is not possible. We just need to identify which listings are a great deal. Majority of Calgary Realtors have a way of detecting undervalued properties as soon as they hit the MLS and buyers can be notified immediately by email. Undervalued listings are not always foreclosures and foreclosures are not always a good deal. In fact, 97% of the foreclosure listings in 2014 were sold at market value or above.
What do you do once you are notified of these great deals? You act quickly! View the property immediately with your Real Estate Professional and draft up a reasonable offer. As anything else real estate good deals also don’t last long. Make sure you work with an Investor friendly REALTOR® that can show you the property quickly and present your offer possibly ahead of other buyers.
Undervalued MLS® listings are a great opportunity for Investors if you know the tactics of finding and buying them.