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CINCINNATI REAL ESTATE
Real Estate Market
As the Midwest’s fastest growing city and with an economy worth over $132 billion, Cincinnati is a real estate market that is heating up and growing by the day. If you’re looking to purchase Cincinnati real estate, now is the best time to do it. According to market research, the housing market is hot. Trends indicate a 2% increase in home sales and an increased price per square foot of space. With no signs of slowing down, now is the perfect time to get in while you can still buy low. The longer you wait, the higher the price will be.
When it comes time to make the purchase, you must have a seasoned team of local experts by your side to help you make the best purchasing decisions possible. 3CRE can provide you with the expertise, financial consulting, and property management services necessary to ensure the maximum return on investment for you. Covering all areas of commercial real estate, 3CRE gives you the advantage you need to reach your goals successfully.
Let’s take a look at the current real estate market in Cincinnati to see why it’s a good decision to buy property in this historic city.
According to recent data, Cincinnati and the surrounding region are now a hotbed of economic and real estate activity. The recession is a distant memory here. Even though the economy had rebounded fully by 2013, the real estate market has only really begun to gain steam in the last year or two. This represents an incredible opportunity for prospective real estate investors. The recession was hard on all of us, however, it has helped create a lucrative environment for purchases of commercial and residential real estate buildings and property.
Prices for property are still very affordable by national standards, and recent data suggests that prices are trending upward at a high rate. This is due to more people and companies fleeing high prices in the traditional business regions of the Northeast and West Coast. The Cincinnati Metropolitan Area is growing at a pace that far exceeds that of other regions. This can mean only one thing: steady growth in the demand for offices, homes, land, apartments, and all other forms of property.
If any more evidence is needed to prove that now is the time to buy, one needs only to look to the end of 2016. The last half of that year saw two major headquarters deals and a good amount of investment activity. One building even sold for over $107 million! That’s a record breaker.
Why now is the time to invest in Cincinnati
- Above average growth in demand
- Rapidly growing metropolis
- Record-breaking deals happening
- Prices are still affordable
- Strong local economy (Ohio’s largest)
FACTORS THAT CONTRIBUTE TO THIS GROWTH:
Despite the recession hitting the entire Midwest harder than anywhere else, the unemployment rate has continued to decrease in the past few years. In fact, unemployment is now below the national average, a remarkable development considering how dire things seemed merely a few years ago. This means that more people have jobs across the greater Cincinnati area. With a solid base of employed citizens with disposable income, the demand for housing and offices will continue to grow as more Ohioans find jobs.
The low unemployment rate has added a range of benefits for both the housing market and the commercial real estate market. Both have seen a boost over the last few years, and continued increases are on the horizon. Job growth and low unemployment are typical indicators of strong housing markets.
LOWER COST OF LIVING
Cincinnati boasts a cost of living that is 7.6% lower than the current national average. This results in more people moving here to search for work, and thus, more office space is being used. Office investments last year totaled $1.3 billion as a result of the increase. As the cost of doing business in more traditional business regions continues to grow, more and more companies will relocate to cities where these costs are significantly lower. This lower cost of living also means the barrier to entry to get into real estate is lower. Homes here cost far less than they do in other regions, but the forecasted growth in sale price means you still stand to profit greatly on your investment.
Cincinnati now claims the top spot in terms of Ohio economies and shows no signs of slowing down. This beautiful and historic city is a crossroads of America’s distant past, present, and future. Its traditional manufacturing industries still form the bedrock of its economy, but new and exciting industries have contributed to our city having a higher growth rate than the average American metropolis. Information technology, construction, and trade have all worked together to drive more companies to call Cincinnati home. As the 28th largest economy in the country, this city is right in the sweet spot for investors.
WHY Buy in Cincinnati OHIO?
As we mentioned previously, the real estate market in Cincinnati continues to show progressive growth, meaning that now is the time to invest in property in the region. For example, Moody’s Analytics is currently forecasting a 2.5% increase over the next 5 years.
Due to the current job growth in the office sector, recent investment trends have leaned towards the commercial office space market. This is due in part to the fact that the rate of vacancy is quite low, and continues to decrease. In addition, predictions have shown that there is very little risk of oversupply in the near future, as there is not much speculative construction.
Obviously, now is the time to get on board and invest in Cincinnati real estate!
Cincinnati Real Estate is Complex. Don’t go it Alone.
While real estate Cincinnati is a great long-term investment, it isn’t without risk. If you do not take the proper steps to optimize your real estate investment, you will either lose out on a great deal of potential profit, or worse, lose money over the time of your investment.
3CRE is a property management and consultancy firm that specializes in optimizing our clients’ commercial and residential investments through consultancy, property management, and financial advisory. We leverage our decades of combined experience as well as our in-depth knowledge of the local market to help you find the best deals in the city and make the best decisions possible.
But our help doesn’t stop there. Once you’ve found the property with the absolute best potential in the area, we make your life as an investor easier than ever. When you partner with us, making profit year after year is as simple as sitting back and letting us take care of everything. From marketing your property and finding tenants to drafting leases and collecting rent, we handle everything.
There’s a reason that investors across America have turned to us for years to help them better understand the housing market here. We are Cincinnati real estate market experts with a passion for customer service.
3CRE: Our Expertise
We are a full-service, end-to-end management and consultancy firm that facilitates the entire property investment process from start to finish. In the end, our goal is to minimize your work and maximize your profit.
We do this by:
- General Advisory: We get to know our client’s individual needs and goals in order to build a customized investment strategy. Once we understand your commercial investment goals, we put our years of experience to work initiating a strategy that will help your investment maximize its potential.
- Negotiations: We believe that the best negotiations are ones where our clients win in both the short and long-term. However, we are well aware that any successful deal must be mutually beneficial. Unlike most consultancy companies, we take a collaborative approach to negotiations, helping to foster deals that will make happy tenants and happy landlords. You won’t run into the same roadblocks while getting a deal done that you would with other companies.
- Valuations: We’ve been evaluating retail and commercial real estate in Cincinnati for decades, and this experience has provided us intimate knowledge of retail and commercial assets. The key to successful long-term investment starts with an accurate valuation. 3CRE uses the skills that no one can teach to provide accurate and detailed property valuations for our clientele.
- Marketing: The key to finding the right tenants is using the right marketing. We use cutting-edge technology (video/drones/photography/social media) infused with detailed local marketing strategies to put your properties in front of the right eyes. From there, we personally vet the incoming applicants to find the perfect tenant so you don’t run into rent issues or damage problems.
- Property Management: If you want to be a successful investor, you’ve got to delegate the least important tasks to others. The only problem is that the least important tasks to you are actually some of the most important responsibilities of a homeowner. Collecting rent, maintaining the property, and in the unlikely event of a breach of contract, evicting a tenant—they are all daily tasks that reduce your bottom line and take up your time. Let 3CRE handle the management of all of your real estate in Cincinnati.
Whether you’re a new investor, a business owner, or an investor with lots of experience, it’s always helpful to have the guidance of someone who knows the field well. 3CRE can help you make an informed decision through their extensive market research and expertise in real estate. 3CRE specializes in all types of commercial real estate Cincinnati Ohio. Contact them today to see what results they can give you and your business.
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