Two Family Homes Are In Demand

Dated: 02/17/2018

Views: 179

                                                                                                               High Demand

 for Multi-Family homes In Syracuse NYImage titleImage title

    It seems like it has been a while since I have seen a market like the one we are in right now. Many younger and first time home buyers are opting for the income-producing home of a two or three family home. The targeted neighborhoods for these buyers are predominately Eastwood, Tipperary Hill and South Valley in the city of Syracuse

    The problem, however, is finding the right property.  Much of what is on the market has been neglected with regards to updating and improvements. Years back many or these two family homes were owner-occupied and well kept. We Realtors even promote the fact that they are so. Usually, that means they have been well taken care of. Today's home buyer, generally speaking, of course, do not wish to buy a "fixer-upper". Buyers want move-in ready property. That is the problem today with finding a Multi-family home. Many are in needs of some repair.

    Inventory of multi-family homes is very low and demand is very high, leaving little to choose from. Recently we have seen multiple competing offers for the same two-family home, resulting in over the asking price. This is not an uncommon occurrence when the conditions are right. Those conditions being -in the right area, in good condition, and in this current market.


Latest Blog Posts

Strong Sellers Market In Many Parts Of CNY

It has been a long time since I have seen such a strong seller's market in CNY. As Realtors, we measure the marketplace by months supply of inventory, or the Absorption Rate. That is how many months

Read More

Two Family Homes Are In Demand

                                                       

Read More

Dam All This Ice Preventing Ice Dams Before They Start

By David WeinsteinDecember 14, 2017Icicles hanging from power lines, trees and other people‚Äôs homes can be absolutely gorgeous, but when those delicate frozen water daggers are hanging from

Read More

5 Reasons To Buy A Home In Off Season

5 Reasons to buy a home ins the off season - Google DocsInman Article5 reasons to buy a home in the offseasonIt's cheaper, and sellers are seriousBY MIKE PULLEY DEC 8Key TakeawaysBuying a home in

Read More