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Show htm Eiftptbe Kcriew OMR (OUTSIDE) by Andrew B. Hansen The market for resale of residential real estate is a highly competitive market. Numerous agents and are out in the market trying to influence the dollar with their buyers Investment Summary Chuck Akerlow If you're looking for a deal on industrial or office 4 product. Many homes are available for the serious buyer to choose from and, as the seller of a home placed on the trading block for sale, how do you price it? If it is over priced in the area of the homes that are alternatives for the serious buyer, how can a buyer be expected to purchase your land, the marketing men at Salt Lake International Center are ready to deal. As you may recall, the Salt Lake Internae tional Center is a office and industrial park west of the airport. It is owned by Adnan Khashoggi, a prominent Arab businessman. home? On the other hand, if the home is under-pricethe seller will lose valuable equity that can be converted to cash by having the home priced higher to bring it in line with d, the market. Too many unsuspecting sellers simply call the friendly real estate agent, be it a 'pro' r, or and expect him to tell them what their home is worth. (Maybe the seller will even tell the agent what the home is worth himself). The value of a home can change greatly from area to part-time- area, condition, financing available, and many, many other criteria. An agent or neighbor, relative or associate friend or foe can each offer an opinion as to the value of a piece of property. Pricing should be executed with the best of intentions, with the best possible data, by a qualified person. The best way to price a piece of property, in my opinion, is to place that property in comparison with those properties currently on the market, those that have recently sold, and those that have been withdrawn from the market(usu-all- y because of nonsale at the asking price.) Its called a comparative market analysis. More on how it works next week. 740-acr- MORTGAGE RATES FIIA 8.75 K VA 8.75 The project is very ambitious. It boasts two lakes with fountains and ample room for warehouse, light manufacturing and office space. The planners foresee eventual commercial space directly other facility is a 200,000 central operations accessible to the new runway square-foo- t for First .Security complex west of the present building Salt Lake International Airport Corporation. The marketing men at the Center are negotiaOn paper the Center is ting with hotel chains and well laid out and exciting. The office builders to create some land prices are also ambitious, more excitement at the Center which is probably the reason that the developers are eager Most Salt Lake investors to wheel and deal in selling and developers are conservathe ground. tive by nature. There tends to There is no question but be an attitude of 'wait and see that the western half of the anytime a new project of this Salt Lake County will be magnitude gets off the ground covered with industrial parks Outside developers such as and Pinkerton-Law- s and office complexes. Some look at the Salt Lake market as predict that the Salt Lake International Center will be a gold mine. Somewhere in of the completely sold within ten between lies the truth which really ought to years. At the present rate of matter, industrial growth in Utah and alert a local developer o the considering the money supply, fact that now would be the it is doubtful that this project best time to get a project will be completed much before going at the Center. Price, terms, subordination, ground fifteen years. lease and so forth can prob. As of this writing only two ably be negotiated. Our companies have built facilities suggestion is that investors there. One is Skaggs, which is look closely at packaging on completing a 145,000 square-foo- t this site today. distribution center. The PPG-FEA- L These rates were obtained by telephone conversation with the above institutions. 'The rates are correct to the best of our knowledge but their accuracy cannot be guaranteed. . ' " r.mvj, . t |
