Growing up as a child in the 1970s meant that I watched a lot of television. I was a car freak at a very early age and would always pay particular attention any time a commercial aired for a new car. Looking back at this now, two things stand out. First, aside from Ricardo Montalban touting the rich Corinthian leather of the new Chrysler Cordoba, I can’t recall all that many auto commercials actually airing – certainly not to the…

As the Starks Would Say, Winter is Coming By Ira Krumholz, President of NAI Daus Property Management Division ikrumholz@naidaus.com The 2015-16 edition of the Farmers’ Almanac includes a good news/bad news weather forecast for Ohio. The good news is that the fall is expected to be longer and milder than normal. But the bad news is that the winter is expected to be similar to last year – in the publication’s words, “snowfilled and frigid.” I’m sure that you will recall…

NAI Daus announced today that Mark Murphy, SCLS, SCSM joined NAI Daus Property Management Division as Senior Property Manager. “As the breadth of our property management assignments expand, we continue to hire exceptional people with experience managing a diverse portfolio of retail, office, industrial and multi-family properties. Mark brings over 20 years of experience and has been recognized with designations from several highly respected organizations” said Ira Krumholz, President of NAI Daus Property Management Division. Murphy joins NAI Daus after…

Architects can play a key role in helping your company create a workspace that matches your vision of how you want the company to operate. “An architect can sit down and interview your key people and gain an understanding of how everyone works in your business,” says Alec Pacella, managing partner and senior vice president at NAI Daus Property Management. “He or she can understand the critical components of your business and see what parts of the office need to…

On the eve of yet another youth soccer season, I recently took my son to the sporting goods store to buy a new pair of soccer shoes. We narrowed the choice to three – a relatively inexpensive pair, a moderately priced pair and an expensive pair. And to my surprise (or shock), my son didn’t immediately focus on the most expensive pair. Instead, he began to ask questions about why there was such a difference in price. And this led…

A wise real estate Yoda once told me that all a real estate agent has to offer are two things – time and knowledge. And sales comparables are certainly at the front of the line when it comes to knowledge. Commonly known as ‘comps,’ individually, they can provide guidance when attempting to value a similar property. And collectively, comps can provide insight into pricing trends, sales velocity and buyer characteristics. Back in the ‘old days,’ there were not many sources…

Written by Ira Krumholz, CPM® President of NAI Daus Property Management Division ikrumholz@naidaus.com Twitter @IraKrumholz 216-455-0905 Determining the value of a real estate asset is never an easy thing but the historic free fall in real estate values a few years ago and subsequent uneven recovery has made this task significantly more difficult. This month, we are going to discuss how a tumultuous market can impact the traditional approaches to determining value – cost approach, sales comparable approach and income capitalization…

There are many decisions that real estate investors have to make during the course of their ownership of an investment property. And one of the most challenging is the decision to upgrade the property with the goal of attracting a higher rent versus continuing as-is at the current rental rate. This month, we are going to discuss an effective way to compare these two scenarios by using a couple of familiar financial tools. You may recall that although IRR and NPV have different definitions, they can be considered…

Several years ago, April 2010 to be exact, I wrote a column titled ‘Suvivorman’. At the time, we were a couple years into the economic downturn and there was no quick end in sight. That column drew several parallels between a couple popular survivalist type reality TV series and the then-current real estate market. Half a decade later and the real estate market is significantly better. However, these shows didn’t just focus on getting through the bad times but also…

The President of our Property Management, Ira Krumholz, CPM ®  talks about all aspects of Property Management Services provided by NAI Daus. When you hear the phrase property management, what comes to mind? Perhaps you think about the employee at an apartment building that shows vacant suites to prospective tenants and coordinates moving in and out? Or maybe you think about the maintenance person at your office building that is called when there are some lights bulbs that need to be changed or the heat just isn’t keeping up…