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Post by a. Pizzarelli on Dec 9, 2015 15:13:33 GMT -5
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Post by a. Pizzarelli on Jan 25, 2016 14:14:11 GMT -5
In short demanding more money with limited inventory should not be too difficult. The local specialists need to stop selling based on comps and need to start understanding how to sell the properties on their own merits. There is no need to sweat appraisals and bank loans because over half our sales are paid with cash. Also, I want local brokers and sellers to understand that buyers won't look at things because they are too cheap. Think about your own consumer habits. Have you ever glossed over something because it was too inexpensive?
Furthermore a positive value add dynamic is present due to nearly 40% of the Prado are original owners.
Lease rates affect prices too. Higher rents mean higher sale prices. Loftin Place is averaging about $1.94 per sq ft for lease which leads me to believe similar or greater rates may be fetched at Prado.
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