How long do (appropriately priced) multi family buildings usually stay on the market?

In Selling Property - Asked by M F. - May 11, 2011
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Answer(s)

Jeffrey B.
Chelsea, MA

Depends on the market. If it is priced right in a good market with a lot of demand then it should sell within 1 week. If it is in an are that is not highly desired then it could take longer. Price it to sell.

May 11, 2011
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Chris R.
Broker/Agent
Denton, TX

As has been said - in real estate - Location, Location, Location. Now - that being said - the location is what it is - can't do anything about it. 2nd to that - you have Condition - and you have Price. Condition would include both physical aspects - inside / outside of the property itself. Then - occupancy which leads to income to support the purchase price - be that what it may be. Then - there is Price - which should be set to maximize your return on your investment and based on the other factors. You should contact an active commercial real estate broker in your market area to assist you in thorough review of your property - location - condition - income and expense and resulting in price that is competitive to and for the market place in accordance with your needs to sell.

May 12, 2011
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Aurelio M.
Broker/Agent
Torrance, CA

At the right price the property should sell pretty quick, especially if it's located in a good rental area. If your property yields a higher return than other similar properties, yours will sell quicker. It's all about the Cap Rate.

May 25, 2011
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Philicia L.
Broker/Agent
Brooklyn, NY

In New York City less than 2 weeks. In Southeast Florida 30-60 days, if priced properly. Buyer demand and competition is the driving factor.

May 26, 2011
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