So last week I helped a member of our military find their home in Halifax after being posted to here from Ontario.
We ran the pre approval, got the purchase amount, and arranged all of the viewings for the house hunting trip. (The military only gives you a week to find your house, so we had a lot to do in a short amount of time.) On the first day of the house hunting trip, we saw 8 mini/mobile homes in the Lower Sackville area, and I noticed something strange.
All 8 mini/mobile homes I showed on the first day were vacant. VACANT. Nobody lived in any of them. In 8 years of being a Realtor, I've never come across so many vacant homes before, especially in one specific area under one specific purchase price. I got home that night and checked the owners of the mini/mobile homes. Why? Because if real estate investors are holding these mini/mobile homes as investment properties, they'll be in a corporation or a trust... Only 1 of the 8 was in a corporation, and was clearly a professional flip done by the corporation. Interesting right? The other 7 were all owner names and assumed at one point to be owner occupancy, but now they're gone? It's interesting because mini/mobile homes are entry price points to the real estate market. Mini/mobile homeowners are not typically affluent people who can afford to hold a mini/mobile home vacant, while paying rent or another mortgage somewhere else.
Where did everyone go?
Just a thought, something I noticed that I thought I'd share with you.
Jason Paul
902-220-7357
jason@infinityrealestategroup.ca
@jasonpaulhalifaxrealtor
