Quote:
Originally Posted by Vegas69
I'd find a really sharp commercial agent and sit down with them for an hour to discuss the market. Not neccessarily the top salesman, but someone that is knowledgable and has data to share.
What has the median price been doing over the last 5 years in commercial sales?
What has the days on market been doing?
Is the supply increasing or decreasing?
Are any major businesses leaving town?
What are leasing rates doing?
What are businesses doing demographically? Are they moving into newer spaces or staying put?
Are new spaces being built that will increase supply?
How is the local economy performing?
What are your other options in the market place? That will help you establish value where you reside.
What's it worth to you not to have to move your facility?
What does a sharp commercial agent feel your place is worth? You could offer them a fee to analyze it and be the middle man in negotiations and close the sale.
I'm far from a commercial expert, but these are some things that came to mind. I'm sure Greg and the guys have other ideas.
I certainly don't think the sky is falling, but I do think it's time to be patient in many areas.
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Its probably alot of work, maybe.
But could you answer these questions with info for the area you in. Not just commercial but real estate in general in your area. I'm just trying to learn for myself and learn more stuff kinda like Greg has done with this thread.
The price of oil has really had an effect here on jobs and such but I have only seen the residential real estate market come down accordingly. Lots of places going under in the oil industry that were not saving money when it was going well.