Multifamily Listings

“Look out for multifamily listings in Hamilton this fall” via Canadian Real Estate Magazine.

“…’We’re at the time of year when people enjoy the weather and aren’t in business mode, but I suspect that by fall when a lot of people revisit their portfolios, there are a lot of properties in the multifamily segment that will flood the market and it will lead to buying opportunities.’

Hamilton does indeed have a lot of multifamily properties with anywhere from two to five units that could be market-bound, but the time to prepare for such purchases is now, says (Sandy) MacKay, adding that investors should start working their networks to find out about opportunities, whether market or off-market.

‘They should also be reassessing what their real estate portfolios look like, as well as other investments they’re in, and making sure they’re ready. The other thing that’s happened is the market has gone a bit softer here in early summer. We still see sellers looking to get top, top dollar, but as summer lingers on prices may drop from where they were in spring. There could be more motivated sellers out there. Price points might be easier to swallow come fall.’

Specifically, neighbourhoods that are close to downtown Hamilton could be replete with multifamily properties for sale, including Corktown, Stinson, St. Clair, Blakeley, Crown Point, and Beasley.

‘If you’re looking for a window of opportunity, we’re in it,’ said MacKay. ‘Now it is about finding inventory, but it will definitely come in the second half of this year. Start looking now and brace yourself for the fall market…”

To read the full article, click here.