As capitalization rates for rent regulated buildings are projected to spike, certain property owners may have lost 30-35 percent in value literally overnight.

It was exasperating but caused me to cook my heels.

We often talk about "warzone" properties on here and some parts of the south side of Chicago truly are warzones, unfortunately Chicago has had a huge spike in violence over the last few years.

However, there is very little incentives for the Landlord to take care of the building and usually leave it in need of repair, pest control, etc.Certain cities like NYC and SF is a must if this is where you want to eventually live for the long term.Rents spike and continue getting higher.Every year for the last 2 decades I keep hearing all the excuses.... it's too expensive to buy in NYC.2 decades ago, when I bought my first Investment, a 2 Family in Brooklyn, was $350k.Today, I can sell that investment for $1.9 Million.BUT, instead of being happy that I have made so much money for that one single property.... what makes me more happier is the fact that I live in that Investment now (I moved back in to this Investment Property this year).All of my relatives that lived in Brooklyn but moved out, either never bought or had bought but sold a long time ago..... cannot any longer afford to buy in Brooklyn anymore.Even renting has become incredibly expensive.As another example of this phenomenon, I had a friend, Steve, who lived in Manhattan.We both invested similarly in to two different properties in 2004.I invested in a 4 Unit property with a Purchase Price of $800k in Clinton Hill, Brooklyn.

There has been a bit of a spike in prices over the last four months or so because of the COVID shock on housing prices, but as more properties have hit the market, the prices are cooling off as well.

Post-2022 international travel spike, it's not hard to imagine that a major channel partner making the biggest change to its channel in 10 years to focus on luxury/boutique rentals could certainly impact smaller, undistinguished rentals that flooded the market on the back of the "roaring 2020s."

Like Spike Lee said, 'Do the Right Thing"!

Also prices have spiked in Jan and I’ve noticed properties that have been listed awhile that aren’t pending are now raising their prices!  

That's their Achilles heel.  

She will have (even though she is new) the ability to negotiate the deal, contact anyone dragging their heels, (inspectors, lenders, title company, lawyers, to name a few) and most likely will have a mentor at her office with years of experience helping her too, which also benefits you.Even if it is listed on the MLS, and you think you could pocket the commission yourself, typically here, non-MLS members or people needing assistance from the listing agent (their key) only earn a 1% commission, whereas your friend would earn 3-4%, if the listing agent was not stupid.If your properties are coming from wholesalers, other investors, FSBO's, or you're doing your own marketing, and, as such, have no need for the services of a Realtor, then I'd cancel the agreement.Hope I helped!