b'
On today\\u2019s show we are talking about another form of situational awareness.
\\nWhen you buy a property in a neighborhood it\\u2019s pretty common to drive up and down the streets and look around.
\\nAre people leaving trash on the front lawn? Are there broken down cars in the lane way?
\\nAre people taking care of their property?
\\nThat\\u2019s one form of situational awareness. We live in a physical world.
\\nBut that form of situational awareness is a bit like looking in the rear view mirror.
\\nWhat if you could look at a property and see into the future?
\\nWell it turns out that you can. When I look at a neighborhood, I want to see who owns each property and what zoning applications have been filed.
\\nLet\\u2019s imagine that you drive down the street and you see homes, one after another. There is nothing particularly remarkable to see. Some driveways have kids bikes. Some driveways have a basketball net. You might conclude that young families live here.
\\nBut a search of title might tell you something that is not readily visible to the naked eye.
\\nYou might discover that one group of houses are owned by the local housing authority. The people living there are receiving some form of social assistance. There is nothing wrong with that of course. But if you were making assumptions about how property values in the area would appreciate, your assumptions might be incorrect.
\\nIf you found a group of properties that were all owned by the same company, that might point to future development of those properties.
\\nIf you found a property where the ownership had 5 names on title, you might research the ownership further. When did the property change hands? Was there a death in the family? Ownership by multiple next of kin is rarely a stable situation. Chances are high that the property could appear on the market for sale in the near future.
\\nYou\\u2019ve probably heard investigative reporters use words like \\u201cFollow the money and you will understand the motives\\u201d. This can be true when you\\u2019re looking at property as well.
\\nWhen you look at the chain of title on properties in the area you get to ask questions. Questions like,
\\nWhy did that commercial property change hands five times in the past three years? Why did that property change hands for $10? Clearly it didn\\u2019t change hands for $10. What\\u2019s the real story behind what happened?
\\nWhy is there e mortgage recorded on a property that is clearly above the market value of the property? I wonder what\\u2019s happening here?
\\nWhy did this property have three mortgages recorded on title in less than a year? Who are the lenders? Are the lenders traditional banks or private citizens? That tells you something about what might be happening on a property.
\\nYou see none of this is visible by driving down the street.
\\nA recent search of neighbouring properties uncovered that one of our neighbours could be considered a really good neighbor. The owner of this property has not initiated a zoning application, nor have they done anything to the property. But this particular owner has a reputation for development. Could new development next door add value to our property?
'