Dayton Commercial Real Estate: 2009

Friday, July 31, 2009

Commercial Financing is Easier Then You Think!

Your worries are over if you think that obtaining financing is impossible. Many lenders are loosening the purse strings and aggressively looking for new business. I have recently been contacted by a number of loan officers seeking new loans. A hungry loan officer means more creative thinking to get loans approved.

I spoke with Beth Kelsey at Liberty Savings Bank who has helped several of my previous clients and she told me:

“Companies and individuals in the market to make a real estate purchase should act now because values have stabilized and asking prices will start going back up. Interest rates are expected to rise. The SBA 504 option is an excellent option for qualified business owners as the current pricing is low and the SBA has reduced their fees in this program“.

Rates are affordable, prices of commercial real estate at bargain prices coupled with highly motivated sellers could mean the time is right to purchase instead of leasing.

Contact Steven and Beth to review your options!

Steven C. May - Commercial REALTOR®
Prudential One Commercial REALTORS®
7234 Far Hills Ave
Dayton, OH 45459
(937) 545-0322
www.daytonagent.com

Beth Kelsey – Commercial Lending
Liberty Savings Bank
1015 S. Main St.
Centerville, OH 45458
(937) 435-9100
www.libertysavingsbank.com

Friday, July 10, 2009

Dayton Market and Investment Opportunities

Dayton has great opportunities despite the weak market over the last few years. While many companies are downsizing and cutting costs it becomes good news for landlords who will realize a growing demand for lease space. Owner having trouble selling may find it better to lease now and sell when the market peaks.

Investors should be looking at buying commercial property as investments. Opportunities to buy existing properties at below market prices should generate huge returns and appreciation when the market turns around. Also opportunities exist where owners would sell the property and lease back from the investor.

A secondary consideration for investors should be multi-family complexes consisting of 10 units plus. With more restrictive lending guidelines for home mortgages many do not qualify to purchase a home. So many landlords are experiencing as high as 100% occupancy which they have not seen in 15 yrs.

If you wish to look at investment opportunities please contact me.

Below are stats from the Dayton Board of REALTORS MLS looking at the 1st half of 2009 sold or leased commercial properties compared to the 1st half of 2008.

Listings 01/01/09 - 6/30/09
(Dayton/Springfield Market)

Listings 01/01/08 - 6/30/08
(Dayton/Springfield Market)

Thursday, July 9, 2009

About Steven

I am a lifetime Daytonian and started my real estate career in 1987. I have been married 23 yrs and have 3 children, 2 in college and a 6yr old. Raised Catholic I attended St. Mary's School, (until it closed) St. Anthony School (all 3 of my children attended), Belmont High School, Sinclair Community College and Wright State University.

I have a background in mechanical engineering and drafting & design. While attending college I worked 5yrs for Chrysler Technologies where we designed equipment installations and aircraft modifications for Wright Patterson Airforce Base. After purchasing 19 aparments I ended up working full time as a residential agent.

My clients slowly became more and more commercial so in June 2002 I converted to a full time commercial agent and served for 4 yrs as manager and sales agent at HRI Commercial Realty in Beavercreek. In June 2006 I was hired as the Director of Prudential One REALTORS® Commercial Division. In July 2010 I joined Prudential Commercial Real Estate working towards opening a Dayton office. I specialize in commercial sales & leasing, including commercial investment properties and business brokerage.

I believe my unique system of serving clients has resulted an impressive 80% - 90% repeat and referral business. I alway try an put myself in my clients shoes and ask the question "What would I do if it was my decision?" and based on my knowledge and experience with over 400 transactions I can provide an honest and objective solution.

Community Involvement