Hey Joe. I have 8 multi-family properties that I am currently marketing in Westchester. I can share a bit of knowledge to help you.
First off, you should be aware that multi-families have been the hardest hit in this market downturn. The prices have dropped 15% from 2007, the biggest drop compared to any other type of property. The number of sales is down more than 34% over 2007. Yonkers is no exception. If you want to sell you must price accordingly. Also you have to decide if you will market to an investor or owner occupant. The marketing will be different in each case.
As everyone else said, there is no way of properly pricing the house without seeing it. The median sales price last year was $463,750 and I donâ€™t know if yours is over or under that. I do know that you need a realtor in this market and I know that you should take their pricing advice if to want to sell. Check my website below and click the link on any of my multis to see some sales techniques. If you need help, just call me.
Rey Hollingsworth Falu
Licensed Associate Real Estate Broker