My take on the commercial Real Estate market in our region is a subject I look forward to sharing and exploring with you, the readers of The Bloom.
As my contribution to The Bloom begins, we are in the midst of a difficult and challenging pandemic, caused by COVID19. We all have the common goal of making it through this with the strength and perseverance so typical of our Lake County residents and businesses. Therefore, my first message to my new readership is one of hope, that we all may use this time of limitations to consider and plan for a prosperous and healthy future!
I plan to use this space to bring you ideas, perspectives, insights – and the benefit of my years of experience as a Professional Realtor. I intend to focus on information that can assist you in buying, selling, maintaining, and enjoying the commercial real estate wealth that our beautiful County of Lake provides.
For some of you, managing in the realm of Real Estate may be old hat. For others, it may be downright intimidating. Either way, because the market is always in flux, there is always something new to learn about shifting trends and important developments.
It’s complex – yet, as simple as any other market. As investors, it is important to stay on top of current trends and inside the essential information loop. Like other business venues, it is the informed and educated participator that does well.
Among my goals, with the articles I will be bringing to you, is my hope to open up and expand understanding of our local commercial real estate market by addressing some of the key elements that make it your worthwhile consideration.
As we emerge from the actions that were necessary for coping with the COVID19 pandemic, it will be more important than ever to understand the condition of the Real Estate marketplace and the best and most profitable paths forward.
Whether you are an investor, a business property owner, a developer or a speculator, information and circumstances are always in flux. One of my personal disciplines is to stay current and get ahead of the curve as our County moves forward into more and more sophisticated development concerns.
Our neighbors will be recovering and growing, too, and they will continue to present healthy competition! It is important to educate ourselves, regarding that competition, for several reasons. Neighbors do better with compatibility than with hasty choices that might prove problematic in the long run. Our beautiful County borders other beautiful regions, providing even more reasons to know what we want and strategize how to accomplish it.
My column will be looking at many important factors that directly impact our commercial real estate potential. We will explore that all-important issue of curb appeal from the standpoints of investor, owner-operator and prospective buyer. I will be offering some insights on how to determine your property’s value, and how to make good assessments of comparable markets.
How is your market “value” impacted by whether or not your property is occupied? We will take a hard look at that. How is your sale potential affected by emotions? There may be a huge difference between what you want to get for your property, and what it’s actually worth in the current, real marketplace. We’ll talk about it!
Every commercial real estate situation is unique. The dynamics that drive a clean sale vary with the venue, the geography, the immediate demographics and all the other specifics that become the profile for the property in focus.
Envisioning and understanding the big picture for a region in transition provides needed insights for the appropriate commercial real estate actions. It is an exciting time for our County’s future, and it involves all of us!
Watch for my future columns in The Bloom! Together we will creatively explore the nuts and bolts of our Lake County commercial real estate market potential.