CINCINNATI, OH / ACCESSWIRE / December 5, 2020 / Chad Kaltenbach is proud to announce that Kaltenbach Real Estate has opened a second location in Cincinnati, Ohio. The move is part of the company's growth strategy to serve the real estate market all across Ohio. Some of the other markets that the company intends to serve long-term include Cleveland, Dayton, and Toledo.
Economic dynamics inform the decision to start the expansion drive in Cincinnati. According to a Bloomberg report on the wealthiest neighborhoods in the U.S 2020, Cincinnati is one of the wealthiest places in the U.S and the richest in Ohio. This means that despite the pandemic, and the resultant economic destruction, this is one area where people still have a high purchasing power to channel into real estate. It also means that Cincinnati is of the places where property values are likely to hold their worth in these times when most sectors have been hard-hit by COVID-19. The company is looking into this market as a short-term hedge against a volatile economy and long term growth once the economy rebounds. In the short-term, this is one of the markets that the company expects rents to remain stable, and people looking for a mix of safety and exposure to take a risk on when buying. Long-term, the company expects that as the economy rebounds and incomes rise, high-value property markets such as Cincinnati will be among the biggest gainers, both in terms of property value growth and appreciation of rental incomes.
The company's long-term bet on Cincinnati is founded on several macro-economic factors. The first one is the discovery of a COVID-19 vaccine. COVID-19 has ruined the world economy in 2020, but with the vaccine now in place, most of the restrictions that have shrunk the economy will be lifted. The U.S government expects that vaccines will be distributed soon and that by Mid-2021, anyone that needs a vaccine will have got it. This means the economy is expected to have fully rebound by the end of 2021. This will translate to better fortunes for the real estate industry, especially in high-value areas such as Cincinnati.
Then there is the fact that the U.S is in a low-interest rates environment at the moment. This is unlikely to change with the incoming Biden administration. The Biden administration is looking to do a fiscal stimulus, which means the monetary policies that the Fed has put in place are unlikely to change in the near-term. This is advantageous to the company in two ways. Firstly, it means that as the economy improves, more people will take advantage of the low-interest rates to buy properties. This is an opportunity for the company to increase sales, not just in Cincinnati but also in greater Ohio. Secondly, in a low-interest rates environment, the company can borrow and grow its rental properties portfolio while keeping its interest repayments low. In the long run, this will see the company increase revenues and anchor its market share in the Ohio real estate market. The company also intends to use the low-interest rates environment to increase its low-income property portfolio. It is part of the CEO's broader approach to philanthropy to give vulnerable sectors of the society a chance to live in a decent home.
The company's expansion into Cincinnati is also rooted in the founder's love for the State of Ohio. He was born and brought up in Ohio. From a young age, he purposed to leave a positive mark in the State, and real estate happens to be the route he chose to actualize his dream. In the company's headquarters of Columbus, Chad has spearheaded multiple real estate projects that have transformed communities while creating employment for many people. He is looking to extend the same to Cincinnati, then the rest of Ohio. His goal is to consolidate the company's home base before taking it nationwide. He intends to have the company make a debut in the stock markets, and establishing a solid base in the Ohio market is a huge step in that direction.
Even as it expands into Cincinnati, the company is carrying with it the values that have made it a success in Columbus. Kaltenbach Real Estate is known for its strong customer service and delivery on its promises. In all the company's rental properties, tenants are treated with respect, and staff keep their end of the bargain when dealing with clients. Similarly, anyone looking to buy property from the company can expect to get the best prices in the market and a property whose features match everything advertised. All these are values that customers in Cincinnati can expect to receive from the new office. Efficient delivery on customer promises is something that Chad has never compromised on since launching the company.
Kaltenbach Real Estate is based in Columbus, Ohio. It has a rental portfolio and develops and buys property for sale, among other real estate services.
SOURCE: Chad Kaltenbach