Sometimes it is hard to continue in this market without looking back and saying to yourself... why didn't I know better or why didn't I sell when I was offered $3.5 million for my parcel of land... and now a certified appraiser from the bank and my commercial specialist and my aunt and my uncle... even my own son is telling me it isn't at that value anymore.
How am I suppose to respond to... It is only worth what someone will pay for it!" and I ask... what the h--- does that mean?
Well, first let's take a step back and analyze the whole picture.
Yes, you were once offered a significant amount of money for a property that you own. And Yes, I mean NO you did not sell it. Ok, Let's move on.
Now we are in the present. You own a parcel of land or a building that you would like to sell. We need to look at the entire picture.
What do you owe on the parcel? What is the current value of the parcel? Is it income producing or a vacant parcel of land? What can we do in the meantime to increase income, lower debt, lower real estate taxes (if possible) and re-examine our loan with the bank? If there is not a loan due and this is a cash out deal, let’s evaluate what you can do with the cash at the market value. Does it make sense to sell at the present market or to hold on to the parcel and wait for the market to go up slightly? Yes- the market will go up eventually. But it will be at a snail pace.
Forget what happened 5 years ago! Okay- Let me Say that Again! FORGET WHAT HAPPENED 5 YEARS AGO. We are in the present and moving forward toward an even greater future than 5 years ago.
The Prices that we saw… the inflation that we encountered… Yes, that will happen again- in approximately ???? years from now. We are on the Longest Roller Coaster Ride of your life. Enjoy it.
Get yourself back in the Present and be prepared for what is happening now. Focus on what you can do Now to improve your income for the future.
You need to concentrate what is currently at hand and play your cards accordingly. The Market has changed dramatically in the commercial market and is still changing. We have not seen the lowest of numbers in sales and we have not seen an upward price adjustment. Banks are now coming due with adjustable mortgages and balloons. It is still a Buyer’s market. There are many great deals in the commercial market. Seller’s are being creative, holding paper, lease options and so forth.
I will help you with all your real estate endeavors. It takes an investor to understand how to invest properly. That is where I come into the picture. To help you analyze your property- whether we sell, lease, exchange into another property. There are many ways to be Extremely Creative in the current environment. Let me Help you find what is right for your portfolio.