How Large Multi-Family Buildings Should Be Marketed
Large multi-family buildings need a different marketing strategy than a typical home for sale would get. Owners of these properties often times go with who they know and end up listing their property with a real estate agent who specializes in residential real estate. That real estate agent may be an expert in their field of residential real estate but large multi-family buildings (5 or more units) fall into the commercial space and require a different set of skills. The owner of such large multi-family buildings who wants to sell their property would be better served by a real estate agent who understands the buying and selling of large multi-family buildings. This article explores the ways a large multi-family building should be marketed when putting it up for sale.
Get The Price Right
When looking for comps for large multi-family buildings sometimes looking for similar properties in the same neighborhood may not be feasible since there may not be any recent sales. Instead owners of large multi-family buildings need to be looking at what is the going price per unit or price per door for the building and use that to come to the asking price. The price per door that is set as the final price does need to take into account any deferred maintenance, the need for updates and more. Afterall one should not price their building at a premium and expect good offers when there is...
Tips For Saving Energy In and Around The House
With energy prices increasing along with the cost of everything else, saving energy in the home should be a priority for homeowners. During the extreme periods of hot and cold weather homeowners can save quite a bit of money but making energy efficient improvements in their home. As with anything the homeowner needs to weigh the cost of making the improvement versus the potential savings. Spending five dollars to save one dollar on a one-time basis is a bad investment. On the other hand spending five dollars to save one dollar a month for the foreseeable future would be a good investment. This article provides some tips on how to save energy in and around a home.
Adjust Your Thermostat
Are you used to cooler temperatures in the summer and warmer temps in the winter? Adjust the thermostat one degree above or below your normal setting is a great way to save on the heating/cooling bill. It will take a little getting used to body comfort wise but once changed and forgotten the money savings can add up over time. Couple that with using a programmable or smart thermostat and additional savings can be had. Some smart thermostats know when no one is home and can automatically adjust the temperature up or down to save money.
Mind Your Windows
When the weather outside is mild opening one’s windows is a great way to let the fresh air into the home. Inside air can get stagnant with cooking,...
May 2022 Greater Cincinnati Luxury Real Estate Market Report
Luxury home sales increased from last month even with rising mortgage rates. This can be explained with the fact that most homes that close in a particular month are usually contracted one to two months prior. In those prior months mortgage rates were lower as compared to May 2022. Homes going into contract in May will show up in June/July results. Prices for luxury homes in the Greater Cincinnati have been holding steady for the 2022 time frame.
Additional Articles To Read
- May Housing Bubble Update - See which markets had a run in prices and sales during the month of May 2022.
- Home Prices Set A Record - This article takes a look at home pricing and how it relates to CPI (Consumer Price Index which is a measure of inflation).