How much do you really know about urban?

With the amount of urban inquiries we get, Will and I are sometimes taken back by the lack of understanding most buyers have of this type of product. Most people are used to single family homes where "it is what it is". If it looks like and sounds like a duck then it's gotta be a duck right? Well, as far as urban is concerned, you would be wrong. Each project is unique in it's design, floor plans, amenities, HOA dues, taxes, ownership vs renters, infrastructure challenges, location and convenience, ability to get loans for units in the project, status in regards to future price erosion, etc.. These are all VERY material concerns that could very much affect the buyers ability to purchase, protect their investmentand make the transaction a positive in the short and long term. Now these are not the only questions (that is why you call us) but these are basics that 100% of the buyers who contacting us are not thinking about for the most part. We see the destruction of personal wealth all around us and mistakes made are prominently displayed through "For Sale" signs of distressed properties. With this still very much affecting everyone wouldn't you think it would be prudent to truly understand your real estate investments before you make them? Real estate is such a common commodity that most people believe that they understand it enough to make an educated decision. However, like everything, unless you study it and work in it everyday there is no way for you to truly understand it. Wouldn't it be important to get an understanding of: 1). Whether your investment will go up or down in the next two years? 2). Whether or not you can obtain a loan to purchase within that project given your financial goals? 3). Even though you have cash, does it makes sense to for you to use that cash to purchase a specific piece of property? 4). Does the project have 'looming' infrastructure problems that could drastically affect your cost basis or laden you with a large one time assessment? 5). How is the area trending as far as appreciation? 6). Is the project slowly turning into a rental community and how does that affect values going forward? 7). Does buying short sales make sense in urban projects? If so, which ones. 8). Is there specific floor plans, orientations, etc.. that perform better than others? I could go on but I'll stop there and these are just SOME of the questions that help you the buyer to be more informed and thus make a better decision. Most real estate companies do not focus on this and that is why buying mistakes are still being made which could cost buyers plenty. We are here to help answer these questions and many more. There are amazing opportunities but you need to know what to look for and we can help with that. Thanks, Will and fitz.