Properties are worth only what buyers will pay

Two buildings with 21 units total are on the market for $6.975 million.

Of course, the headline is a truism. But it has a double meaning, as you will see below.

“What do you think it is worth?”

The question to brokers is as predictable as a cold day in . . . winter. And the answer is invariably frustrating to buyers: “What is it worth to you? You are the one who has to live there.”

Still, the question is a fair one if it is themselves they also ask. Continue reading