When Holiday Travel Trends Lead To Good Real Estate Deals

One of the most important steps toward evaluating a potential real estate or business transaction is to go beyond the numbers. Those evaluations don't always come from real estate news or content. The below linked article may seem not pertinent to a property or business owner or to an investor. It is about anticipated popular travel destinations domestically and internationally for the coming Thanksgiving holiday period.

 

This year, "anticipated" takes on more meaning than most years. Current conditions, including the government shutdown (at the time of this writing) and interest rates, may be impacting if or how far (or close) people travel this year. However, there are statistics available on popular destinations for holiday travelers from past years.

 

If you own, or are considering acquiring a hospitality related business, or a service business (restaurant, car rental, entertainment venue), knowing whether or not to expect a heavy travel volume could impact decisions and positioning. Having information to believe there will be a heavy concentration of visitors could give you an edge in making your decisions.

 

Chances are that, on one month's notice, it's too late to take action for this year. Knowing to look at these trends starting shortly after the upcoming holiday period could help make you and your team "first in" on a profitable opportunity for next year and years to come.  

  

https://www.travelpulse.com/news/destinations/allianz-partners-usa-reveals-top-2025-thanksgiving-travel-destinations

 

 

 

An Island Of New Opportunity

What some see as someone else's problem can often be seen as opportunity, especially in real estate. The below linked story about an island in Michigan that takes two hours by ferry or 15 minutes by flight to get to is one such example.

 

The story details how some houses are being built elsewhere and literally shipped to their location tells of the obstacles. Those include not having concrete and other materials readily available and not enough housing for construction workers for an extended period of time. Many, if not most, of the housing on the island is taken up by Summer or short-term rentals for visitors to enjoy the amenities of being on a relatively private island.

 

Many real estate people see this and think, "It would be too much work for too little return". They might be right. I see this and think, "I wonder which developer would jump at the chance to buy up as much of the island as possible". They could build a resort, rent out the single-family homes, and bring amenities to attract many more visitors that would have plenty of space on a 13 by 6 mile island. Their ferry boat, or a partner's boat(s), could provide regular transportation back and forth. Perhaps they would spend on a cargo boat to bring in groceries and food to serve.

 

Beaver Island could be a multi-million dollar development opportunity constructed to create unique experiences for thousands of travelers. It would result in work for contractors, builders, brokers, and related services along with at least one opportunity for investors.

 

Executing a large-scale project like this would not be easy, and is clearly a long-term plan. However, no multi-million dollar operation was "easy". None of the happened without first seeing the opportunity. Being "first in" to make it happen brings a significant advantage.

 

https://www.mlive.com/news/2025/10/homes-shipped-30-miles-across-lake-michigan-to-help-remote-islands-housing-crisis.html

 

 

  

Different Reasons For Calling People In Your Database

I have often said that the best training I ever got toward all of my experience working with real estate professionals and investors was my years working in radio broadcasting. There was even more than learning how to create scripts that need to be a specific length, such as 45 seconds, and being able to revamp them to present multiple times. Style of delivery and inflection are important as well. 

However, as I prepare to expand my “Calling With Confidence” training specifically for real estate agents, I keep in mind the need to help agents to take their existing database(s) very seriously. It’s not like the old days of cold calling, since people in your database right now have approved being there in some way. Despite that, lead generation is still the primary purpose for the majority percentage of people in your database. 

Your phone is still a great marketing tool when you use it correctly. Over the past 35 years of working directly with real estate professionals, I still find that not enough of them are taking advantage of using their phone for follow up marketing. Notice that I did not say “for selling”, because marketing is different.

The goal of making scheduled calls throughout your database should be to acknowledge their situation while giving them a reminder to keep you top of mind. Before I begin private and confidential training of my clients on presentation skills, I make it all about sorting or dividing the database. There are recent buyers, sellers, and investors and each group should be approached differently. There may also be people that you recently met or came your way through a website, social media, or your brokerage. 

Think about when you have a personal development or announcement you want or need to share with the people in your life. Chances are you will explain it differently to children than you would to parents, your colleagues, and your closest friends. You know which words and examples you should use to different people as a way to get your message across. Give them information they don’t get from other sources. Be “first in” with your message.

The better prepared your ‘different’ approaches are, the more effective your message will be, which is the foundation of the training.

 

https://RealEstateMediaCoach.com 

 

 

 

 

 

A Solid Investment Opportunity In Plane Sight

At first you wonder why a local government would approve an elaborate new high school development, especially when it involves a hilltop area in addition to high end architecture. Upon further review, it becomes obvious why they want to attract new residents that would want to send their children to that school. The below linked article explains the new school and the major amenities a 380,000 square foot high school area brings. It also explains the location, which happens to be within two miles of the busiest airport in the nation.

 

Many cities have industrial areas and/or rail and truck facilities near a big airport. In some areas, there will be low income housing, often to house workers near those businesses. It will be interesting to see how this plays out in Atlanta. A modern state-of-the-art spacious high school could bring in residents for upscale and luxury housing. Typically, this type of housing is not found in proximity to a large airport since high end homes are typically in a more quiet area. 

 

The potential impact on home values and the cost of land for residential development could be significant. Potential home buyers and investors who are not aware of the plan for the new high school would not be in position to see the potential. Chances are they would have a different set of numbers when evaluating current opportunities. 

 

To me this is about even more than how this could impact the Atlanta area real estate market. Investors, developers, and brokers in other major cities could start tracking property values and trends near the Atlanta airport starting now, and going back a few months. Continue to track how the new high school impacts people moving to the area, price trends, and new business development such as grocery stores and other services over the next couple of years.

 

Three years from now, you could have "evidence" of how adding an upscale school could positively impact the economy surrounding "your" airport. You could be "first in" on creating a highly profitable opportunity by making acquisitions and lining up investors at 'current' market conditions while having projections most others would not. Those who "would not" are those who do not have a research person or team helping them toward future opportunities. 

 

 

https://atlanta.urbanize.city/post/north-clayton-eye-popping-modern-high-school-construction-near-atl-images

 

 

Three Million Square Feet Can't Be Wrong

There has been a lot of reporting lately that the "work from home" era is losing its dominance as employers are requiring more office time. The below linked story shows how more than 3,000,000 square feet of what was Manhattan office space is in process of being converted to residential. It adds that it is up from the amount of square footage which was converted in 2023. 

 

Of course, everywhere else is not Manhattan. However, Manhattan either is or was (depending upon what you believe) a hub for large corporate and professional service offices. Their employee policies can impact what happens in other cities. 

 

My take is that you can believe what you want to believe. If you want to go with the "returning to the office" trend, you can find plenty of data to support it. If conversion to residential and/or continued working from home is your choice, you can find plenty of data to support it.

 

The key to success in real estate, or any other business, is to be where your target audience is. This "residential vs. office" situation does not have a clear cut "winner" at the moment. If you are a residential focused developer, broker, or investor you have plenty of situations for conversions where the research supports it. If your focus is commercial, especially office, you have plenty of chances to accommodate employers bringing their people back in.

 

Research is crucial. Some municipalities are favoring commercial while others favor residential. There are some which are not changing anything. Knowing about proposed zoning changes or ordinances could be your most valuable pieces of information, especially when it creates the chance to be "first in" to capitalize as soon as a significant change takes effect.

 

Never mind whether you want to work from home or the office. Keep in mind where your next big opportunity could be. And keep my team and me in mind when you need someone to research it for you. 

  

https://www.planetizen.com/news/2025/10/136167-manhattan-office-apartment-conversions-doubled-2024

 

 

 

 

When An MLS Is Focusing On Money From Agents' Content Instead Of Their Listings

It is hard enough to market residential properties these days while the industry continues to seemingly create more problems than it solves. Within the past two years, hundreds of thousands of active agents have had problems to deal with ranging from dealing with buyer agent commissions to rising home prices to mortgage rates that won’t budge. Recent disasters are forcing insurance rates even higher. As hard as it seems to believe, there is more trouble on the way.

We know that California has its added challenges, whether your business is located in or does business in California or not. The state has the largest MLS system in the country, the CRMLS. The news that the CRMLS has begun to require more than 100,000 agents to “agree” to allow the MLS to use content about submitted listings as their own. I saw where Robert Reffkin, CEO of Compass, was among those expressing concern that the CRMLS would be selling the data to Zillow and/or other aggregators for added profit. 

It means that agents would, in effect, be losing some rights to their own listings and promotional content, while others get financial gain. Our concern, however, is on the marketing side. We already see a number of buyers targeting “off-market” deals, thinking there is less competition and expecting more favorable pricing. My hunch is that this action would cause thousands of agents to keep their listings “off-market”. That means that the number of potential buyers being made aware of these listings would diminish greatly.

While the industry fights over how listings and commissions are handled, it’s the buyers and sellers that will lose out. It’s not the time or the market conditions for having that happen.

 

See for yourself:

 

https://drive.google.com/file/d/19NhqELd1YqxdFvCe__r_C0TjpLAx3Buc/view

 

 

 

 

 

Knowing What Buyers Are Searching For

It is noteworthy that, per the below linked story, more and more people are performing searches for helpful information about mortgage rates and seeking help in dealing with them. The trend reflects the number of people staying put, whether because of uncertainty, not being able to afford to move, or simply waiting for rates to go back down.

From a marketing standpoint, there is a lot to digest from this. One is that monitoring popular searches can create opportunities for finding and filling gaps for products and services, whether related to real estate or not. When it is real estate related, there are often multiple ways to interpret search trends. 

Let’s use the mortgage rates searches as an example. If you are looking to buy a property (whether for a residence or investment), this trend could have an impact on your thinking in a different way. Since a lot of people continue to be hesitant, it means that by acting now you likely face less competition when bidding or negotiating. If you are looking to sell now, your marketing should reflect urgency. Many of the people and groups that are delaying a buy don’t understand that most of the “good deals” out there will disappear the minute rates drop. Buying now, even at higher rates, brings the ability to refinance when the time is right and take better advantage. 

Although a seller can’t come out and say “We’ll be asking a lot more when rates drop”, urgency can come from other angles. It could be a strategy like “In time for the semester” if in a good school district or in proximity to a college or university. Perhaps pointing out tax implications of buying “by the end of the year” would help. Maybe a “unique opportunity” that “once it’s gone, it’s gone” approach would help.

There are times when solving a problem creates opportunity, just as creating opportunity can solve a problem. Quite often, being “first in” brings a huge advantage in negotiations. When you find out what people are searching for, do your best to help those people find a better solution. A little research, with the right person or team on your side, can go a long way!

  

https://www.newsweek.com/help-with-mortgage-searches-are-highest-since-housing-market-crash-10819230  

 

 

Why Big Real Estate Deals Need Structure (Literally)

The story about the discovery of an increased potential for major earthquakes on the West Coast should be an important reminder for real estate investors and professionals instead of a story that gets passed by. It should be a reminder to explore or verify the status of your building(s), whether residential or commercial, and revisit your insurance coverage.

 

Two specific experiences I have had over the past 30 years come to mind upon reading the below linked story. The first came during my time working in the Los Angeles area. A broker and investor event I attended had a geologist speaking about and showing photos of how he examines building foundations to determine whether or not they could withstand earthquakes. He went into details like the how the direction of cracks in the walls was an indicator. Knowing this is huge when inspecting a building for a potential transaction.

 

Years later, the other experience was seeing a presentation from an investor that was part of a group which lost more than $10 million on a project. He explained that their large apartment building had a major fire which forced evacuation. It turned out the building was under-insured and the eventual settlement left them millions of dollars short of what they needed to renovate. They had to walk away and lose significant money. He was able to return to investing because of his ability to consult and advise building owners about all of the steps to take to be prepared for significant emergencies, and went on to become a successful investor again.

 

Those factors are (or SHOULD be) major parts of preparation to acquire or sell properties, especially on the West Coast. However, they don't show up when you "only" run the numbers when making determinations about a potential transaction. Finding or making a property or opportunity meet the aforementioned standards could either save or make millions of dollars. Having the right information and being "first in" on a deal can be a huge gain. If your plan is not thorough enough, and you don't have all of the research you need, in this case, it would be your "fault" it didn't work out.  

  

https://abc7.com/post/earthquake-san-andreas-fault-cascadia-subduction-zone-could-linked-trigger-double-quake-oregon-state-university/17967234/

 

 

 

Fannie Mae, But If They Don't.....

The story about how Fannie Mae is pursuing foreclosure on two Bronx apartment buildings for $61.5 million is an attention getter for landlords and investors whether within or across the country from New York City. Chances are many people seeing this story will go with a gut reaction and continue along with their day. They may think, "Glad it's not my problem", "No wonder I don't invest in NYC properties", or "That's what happens when you don't pay the bills". Those are the type of thoughts that come when there is not a focus on researching situations.  

 

A situation like this one, while horrible for the current owners and the financial institutions involved, could be a major opportunity for others. When you don't have a research person or team on your side, you risk losing out on numerous opportunities which could become long-term "difference makers".

 

Fannie Mae is not looking to manage these properties any longer than they have to. If $61.5 million is a lot more than these properties are worth, they will realize they are not going to get their needed revenue solely from a sale, because no one will overpay. There is a number for which a new buyer could acquire these properties and make it work for them for the long term. Chances are there is a property management company that would love to take on a large project in NYC.

 

There appears to be room for negotiation to take a huge problem off the "seller's" hands. When research is top of mind, the gut reaction should be, "What is the number I/we would need to offer in order to make this work for us?". That is followed by the "Who do we know.....?", "How soon can we......?" and related questions which can be determined by research and knowledge.

 

A few years from now, someone is going to be making money from that property after all is said and done. Whoever it is, they will have been prepared with solid research, the best offer, and the skills to pull it off. They couldn't have done it without knowing how and what to research.

 

 https://www.mpamag.com/us/mortgage-industry/industry-trends/fannie-mae-launches-615m-bronx-foreclosure-over-missed-payments/550942

 

 

When Your Target Audience Is Five Years Away

Speculation continues to be a big part of real estate deals. It goes even beyond waiting on rates to go down. Some investors and developers know to look at anticipated conditions for years down the road, especially when it comes to new construction or long-term conversion or renovation projects. Financial and population trends play a big role in target audiences, and research and “doing your homework” should play a bigger role in making determinations. 

I’m seeing more developers looking into serving seniors than in past years. The fact that five years from now there will be 7,000,000 more U.S. citizens turning 65 gives reason for that. Meanwhile, updated research, per the below linked article, shows a more than 5% increase in the number of people expected to reach the age of 80. However, I’m seeing fewer developers and investors considering medical buildings. They don’t seem “glamorous”, but do attract more long-term leases. 

Medical research shows that those over the age of 65 are more likely to have nearly twice as many doctor visits per year than the 45 to 64 age group. We could look at areas around the country where seniors are relocating to upon retirement or downsizing. Part of doing so typically means finding “new” doctors and medical facilities to work with.

An investor or developer can see where land or more easily available existing buildings may be available which could serve area seniors quite well. Chances are some medical practices or doctors seeking a better opportunity will be looking to take advantage of these situations.

We can see opportunities. The point is that this research is opening up these possibilities, without one property being considered. It shows the positive difference having a research person or team can make!

 

https://rejournals.com/23-million-new-doctor-visits-a-year-why-demand-keeps-rising-for-medical-office-space/

 

 

When The "Road To Success" Needs To Be Widened

The saying is, "The road to success is paved with good intentions". Detroit is among the communities saying that the road should be narrowed. As the below linked article explains, an effort is underway to make some of the roads narrower. In addition to forcing lower speed limits, the other goal is to reduce truck traffic on certain streets.

 

I have had brief discussions about this with a few of my valued connections and find that some agree and some disagree about the need and value of doing this. Real estate developers and investors can make a strong case either way about this. My initial analysis is that the impact of a narrow street depends upon the type and use of the real estate.

 

Residential developments, especially in prime school districts, would stand to benefit. Reduced speeds and truck traffic make conditions much safer for the kids and make the parents feel better. Meanwhile, shops, service offices (medical, financial, etc.), and especially restaurants would be harmed by this. Slowing down traffic, even in the interests of safety, is often enough to discourage current and potential customers from going to a location which is a challenge to get to. My bet is that you, and/or someone you know, no longer goes to a favorite restaurant or shop because of "too much traffic" and the time it wastes.

 

If and when narrow roads create more traffic jams and businesses suffer, the tax income generated and the value of the real estate, as currently zoned, loses value. Before this possible trend started, traffic count and traffic flow has been a consideration for most developers and investors in addition to retailers and restaurants for these reasons. 

 

It is one thing to "stay in your lane", but it can be a big concern when the lane is constantly congested. Let's discuss how traffic flow impacts your current or proposed investment!  

  

https://wdet.org/2025/10/02/the-metro-why-detroit-has-been-narrowing-its-roads/   

 

 

 

 

 

Shopping The Downtown Deals

It has been interesting to review new trends when it comes to converting downtown and major business district areas. Per the below linked article, they want room for people to be able to walk comfortably, not have to worry about traffic and "hurry", and offer a variety of shops, restaurants, and entertainment within close proximity.

 

At the same time, we all continue to read about the decline in malls, as large anchor stores walk away into the sunset. Malls are being converted to residential or industrial because they are not able to attract the numbers they used to. Mall spaces have plenty of room for parking, with most of them offering free parking to encourage visitors to easily be able to make a day out of visiting. Most malls have (or had, but could again) forms of transportation to accommodate those who do not or cannot drive to get there. 

 

Downtown space in the vast majority of municipalities is the most expensive space within the community. Parking is often a big hassle for shoppers, whether because of having to drive around multiple levels to find a spot or facing paying more for a space than for some of the merchandise they would like to purchase.

 

The time is right for developers and investors to research their markets of interest on these trends. Land that is or was used as mall space includes parking, structure, and is ripe for transportation, while being available for a lot less of a financial investment. Consumers would not have to deal with downtown traffic and parking hassles in order to shop or enjoy their leisure time. Being "first in" on an opportunity of this magnitude could be a life changing decision.

 

https://www.bloomberg.com/news/features/2025-09-27/washington-dc-s-national-building-museum-explores-downtowns-after-the-pandemic  

 

 

Speed Limits Matter For Business Locations

Reducing speed limits in metro areas where there are large school districts or other heavy pedestrian traffic areas does seem to be reducing the number of serious accidents. However, there are also reasons for keeping speed limits low in major business district and downtown areas. I was recently at a presentation for a municipality during which they discussed how reducing the speed limit on a downtown artery from 45 MPH to 25 MPH has played a role in the increase of foot traffic of stores and restaurants on that street. Driving slower is giving more people the chance to see what is there, as opposed to whipping past without looking.

 

The below linked article discusses the residential side of doing this, in terms of making school districts safer. This all has plenty to do with real estate and how solid research can impact decisions and results.

 

Using the Milwaukee example, a real estate developer or investor can have data to show a location with increased safety and/or a better safety performance than other locations. Parents seeking a good location for their young kids would love to know that. On the downtown or business example, showing speed limit reductions along with traffic flow could influence a potential tenant to want to lease or purchase under those conditions. Being on top of this type of information can make you "first in" for a great opportunity.

 

In this challenging real estate market, the idea is to include as many potential advantages as possible. Just some of what you become capable of with a research person or team on your side!  

  

https://www.planetizen.com/news/2025/09/136068-milwaukees-secret-reducing-speeding-27  

 

 

Literally An Old School Opportunity

The community of Kenosha, Wisconsin has gone "old school". Literally. The decision to replace old and unused school buildings with new single-family residences makes for an interesting use of available land. It continues to seemingly growing trend of municipalities taking action to increase economic development.

 

Making these types of conversions happen takes plenty of research and follow through, especially when many cities are not known to be aggressive in terms of creative ways to spur economic growth. In cases like this, both sides need to have done their homework. The municipality can come up with necessary business statistics and demographics to support their project. However, the buyers, builders, developers, and investors involved in making these projects happen need to be sure they have a viable opportunity. 

 

However, the very first thing is having knowledge of the potential opportunity, followed by doing their homework. I am currently involved with putting projects together for three separate municipalities and meeting with city or village officials to give and gather helpful information. One result is that I find myself in both teaching and learning situations. Conversions, zoning changes to accommodate proposals from municipally owned land, research, and cost estimation are only part of the process. We now have more environmental, sustainable, and energy concerns as part of the guidelines than in the past (which is a great thing!). Some parcels are delivered with utilities and infrastructure ready (or close to it), while others are not.

 

There are plenty of opportunities right now, regardless of interest rates and other circumstances which are roadblocks if you let them be. All three opportunities I am currently involved in came from a single conversation, each with people that could help pave the way. No matter how busy my day is, I always have time for new connections and exploring new opportunities. 

  

https://www.wpr.org/news/wisconsin-kenosha-demolishing-school-buildings-housing 

 

 

Ignoring The 1%

The minor controversy over some municipalities in Illinois adopting a 1% grocery tax ordinance upon the stopping of the statewide charge is still going as the "deadline" draws near. The State tax is ending. Some cities are planning to implement their own to raise funds for the municipality while technically not increasing current prices. They reason that local consumers have faced the same tax for years, but now they get that revenue. 

 

Peoria Heights is one such community. Per the below linked article, the Mayor reasons that by vetoing the local proposal he is saving his voters 1%. He also points out that he thinks this strategy might attract at least one more grocery store to the area. Really?

 

Is continuing a $2 savings on a $200 purchase really worth constructing an entire grocery store for?

 

My takeaway of this story is the reminder of factors like sales taxes and local financial incentives should be a factor in determining where to place a commercial or residential real estate opportunity. Sales tax differences from state to state and, in some instances, from city to city can definitely be a factor. Consumers will often travel to another state to save hundreds of dollars on a major purchase, or even thousands in some cases (such as a car).

 

While it is necessary to run the numbers on a potential real estate purchase, sale, or investment, considering other factors which will likely impact customers and/or tenants can be the difference maker in the long-term impact of the transaction.

 

It is why researching "everything" is the key to success. 

 

 

https://www.illinoispolicy.org/peoria-heights-mayor-vetoes-grocery-tax-as-chicago-considers-it/ 

 

 

Would You Bid On More Than 5,000 Rent Stabilzed Apartments?

It is push coming to shove in New York City as the struggles of Pinnacle Group have forced Flagstar Bank to foreclose on more than 5,100 rent-stabilized apartments spread throughout New York City (including some in Manhattan). One report shows 82 debtors on the properties. Bidders have just under two months to indicate an interest in acquisition. Flagstar Bank is reportedly on the hook for more than $560 million. Meanwhile, these are not the only buildings facing similar circumstances.

 

Those circumstances are that stabilized rents during times of significant rising costs for materials, labor, repairs, and maintenance are putting the future of ownership companies in serious danger. The same may be true for lenders and other businesses in the construction industry. This development (pun intended) has many people wondering how this will shake out. For an investment group to take over and make this work, they would need a significant discount, putting the bank and others at risk of losing millions while cutting their losses. However, that investment group would need assurances that may not exist because of subsidized tenants.

 

Although we can tell "how" this happened, my question is how and why things reached this point. My answer is it is from NOT doing enough research. How did Flagstar Bank let things get to this point without creating at least one solution? Could they have saved millions of dollars, and possibly these properties, by financing repairs, bringing in their own property managers, or some other methods? Now it's too late. How did they, or Pinnacle, not have "back up" investors they could work with when the problems started? Now it's too late.

 

Someone that does their homework might have been able to step in much sooner, whether with Pinnacle or the funding situation, helped to solve the problem, and created a significant income stream by having the right information and strategies to act upon it.

 

It takes the right research to make a real estate deal happen and properly managed over the years. However, it should not stop there. I consider this my latest significant example of the damage from not being ready to take on a possible situation.

 

https://www.bloomberg.com/news/articles/2025-09-22/over-5-000-nyc-rent-stabilized-apartments-headed-for-auction

 

 

 

When A Deal Closing Is Not Good Marketing

My clients, coaching students, and connections sometimes question me when I talk about the need to constantly monitor every inch of your marketing, branding, and advertising. I have been working with real estate agents, brokers, investors, and developers on various aspects of marketing for more than 30 years. Over the years, I have seen a percentage of them take the approach of, "Oh, here is ad copy...." and act like it is no big deal.

 

Nothing can be further than the truth, especially when it actually can do more harm than good. Last weekend, I drove by a rotating digital billboard in a Chicago suburb and saw an instance of that very thing and went back to get a (below) photo. There is so much wrong with this advertisement that, frankly, I see it as a waste of valuable advertising dollars.

 

This rotating digital billboard sits by an intersection which has a Speed Limit of 45 on one road and 40 on the other, with the consequence being that many of those that see it only get a quick glance. Those stopped at the stoplight get around 5 seconds each time. Upon my glance as I drove past, my reaction was "A Baird & Warner office closed??". The first things the reader sees are "Closed" and the company name "Baird & Warner", which is a well-known Chicago area company. Those readers that have the time to see the address and look at the photo are likely to realize that the ad is about this property. 

 

However, if it "closed", that means it is no longer available. People have no reason to drive by the property, which is actually more than 20 minutes away from the billboard location and in a different municipality. My hunch is that the new owner (if there is one, since some people have different interpretations of a 'closed' listing) does not want their new property shown to thousands of people each day. 

 

If this home was actually "sold" instead of "closed", the ad would have been easier to interpret. However, people don't know how long the property was on the market, whether the price was at, below, or above asking price, or any of the amenities. While I appreciate trying to pick up on a success story, this ad does not indicate a call to action or reason to follow up.

 

One more thing, which is the old saying that "People buy from people, not companies". While the agent's photo is prominent, her name and phone number are buried at the bottom of an advertisement that people only see for a maximum of five seconds, and while driving or being a passenger in a car. If the status of a property changes, change the ad as soon as possible.

 

This advertisement does not tell us anything about why this property was attractive, the school district, or specific location it was in, or anything about a specialty of the agent or her office. Sorry, but you can't just "put up an ad" and expect it to work in your favor. I wouldn't be surprised if those behind this ad go on to complain about how "advertising doesn't work". You have to know how to use it!

   

 

 

A Blank Campus Is A Challenging Investment

Real estate investors, developers, and brokers often evaluate current and possible opportunities within proximity of a college campus. Those opportunities may range from student housing to restaurant, retail, or some form of student service. Despite variations between campuses in big cities and traditional college towns, students typically need the same types of services. Research includes the expected number of students, and advance schedules determine the dates when students would be arriving, vacationing, and leaving the campus area.

These factors would seem like easy research. Not many give any thought to researching the viability of the college or university and its campus continuing for years to come. As the below linked article demonstrates, the viability of a campus is now among the matters to research. Schools need warm bodies which generate revenue, just like any other business. These days, it is no longer a given that schools which depend on tuition are going to be around for years to come.

Students and their supporting families need to look at more than the rising cost of attending a private school, college, or university. That expense often does not include the cost of staying on or near campus, transportation, food, clothing, and materials. Some students and parents have begun running the numbers on the possible difference of spending six figures over four or five years against seeking work which pays less but is available years sooner.

The impact of a campus coming to a close is heavy on the real estate life of the municipality which has been hosting a campus for many years. Based on recent research, including the below linked story, studying enrollment trends should become part of preliminary research for a viable location. It may be more important than running the numbers on the property. You don't need a college education to figure that out. Just the right research person or team.

 

 

https://www.bloomberg.com/news/features/2025-09-18/closed-college-campuses-can-be-a-real-estate-puzzle-for-cities 

 

 

Conversion With Reputation

An added developer has received approval from the Chicago Planning Commission to convert unused office space into more than 200 units in a well-known downtown building. There has already been a separate developer that started the project, but was unable to acquire these units at the time.

 

The location, the Pittsfield Building, is well known to long-time Chicago residents for the many professional offices and businesses it has hosted over the years. It has plenty of train and bus transportation, restaurants, shops, and plenty of retail in close proximity. Consequently, when people within the demographics that would realistically consider the majority of the units (in addition to some already designated for affordable housing), they will be well aware of where this location is and its advantages before taking a look at the data.

 

This situation reduces the marketing challenge. Although the location will clearly factor into the cost per unit, potential buyers will come in knowing plenty about it, which should be an advantage to the real estate professionals involved in marketing and selling the units. There are times in forming marketing strategies that eliminating the "Where is THAT?" factor helps when you face potential buyers weighing different locations.

 

These are things to be aware of when researching for potential opportunities. Acquiring another property at a lower cost might mean a higher marketing budget is needed and additional challenges are involved for presenting the location. The best results include more than the numbers working in your favor. The value of research.

 

https://chicagoyimby.com/2025/09/office-to-residential-conversion-of-pittsfield-building-approved-by-plan-commission.html

 

 

 

 

 

 

When Research Could Save Nearly $100 Million

When coaching or consulting with investors, especially newer ones, I stress allowing margins for cost overruns and things which happen during a rehab or upgrade. I have seen too many situations where something unforeseen happens and takes away a large percentage of an anticipated cash flow or profit margin. Even the most experienced real estate investors and professionals encounter challenges while executing a project.

 

The news that a park and environmental development in Kansas City is running nearly $100 million over budget is certainly another story. Per the below linked story, significant increases in the design and planning are more responsible than rising construction costs. This is much different than allowing a few thousand dollars to cover a lower estimate or items needing replacement during the construction process.

 

Consequences from a $100 million shortage are astronomical. Money originally earmarked for other projects now goes to fund this park above a freeway project. While the vast majority of us are not involved in a project of this magnitude, there are lessons to be learned. Those lessons go beyond questioning key personnel involved in the action process.

 

My feeling is that it is due to a failure of initial research. While the response could be, and rightfully so, that there were not the needed restrictions on the budget, it is hard to justify a project being this far below the necessary budget before being approved. If the plants and materials needed for the project were significantly under budget, adjustments could be made to allow more open space. If it is due to personnel, look at it that $1 million pays for 8 full-time professionals. Put that together, and it makes me wonder even more how any real estate project could be underestimated by $100 million.

 

It is still another instance where a few thousand dollars spent on research would have made millions of dollars worth of difference. The Kansas City park project being outrageously over budget never should have gotten to that point.

 

https://www.kansascity.com/news/local/article312137896.html