From the monthly archives: December 2006
The media discovered commercial real estate recently. He’s another article from Orange County, California on the booming commercial real estate sector.
As foreclosures skyrocket next year (foreclosures are a lagging economic indicator) we’ll see tons of legislation across the U.S. targeting the mortgage industry. This article on Colorado foreclosures gives a good list of the kinds of legislation we might see. “I think it’s a severe problem that calls for regulatory action as well as legislation,” [...]
I’ve heard that most of the housing discrimation actions are against immigrant landlords who don’t know the housing laws here.
“It took 20 years, but the five C’s that drive Arizona’s economy — climate, construction, children, computer chips and check cashing — have finally been able to outdraw Nevada’s onecard-trick pony.”
The level of incompetence at Turner-Dunn Homes must have been spectacular. At least the mess created by the bankrupt Casa Grande and Maricopa home builder is being straightened out.
We will be seeing a lot of these stories.
I remember visiting Yakima in my agriculture days. It’s not a hot market like some second-home towns in Washington, but it seems to have some potential. If I recall correctly, Yakima’s irrigation project irrigated roughly the same number of acres as our Salt River Project.
Three developers are working in Silverstone in Scottsdale where the western theme park Rawhide used to be. An earlier post here.
I stumbled across an excellent publication about U.S. commercial real estate markets and investment outlooks from Integra Realty Resources. This publication is a must-read for real estate investors. This graphs shows that the office sector in the central business district in Phoenix is still in the early expansion phase. Historical and estimated future employment growth [...]
Get the numbers on retail real estate development in Las Vegas. Yet despite the high number of new additions and planned projects, the valley’s retail market still has near-record low-vacancy rates with pent-up demand fueled by robust residential and business growth. Asking rents, as a result, are still growing.
DMB Associates, the developer of the high-end communities of DC Ranch, Silverleaf, Power Ranch, Verrado, Marley Park, Superstition Springs and Forest Highlands (Flagstaff), closed on the purchase of the 3,200 acre GM Proving Grounds in Mesa.
Asking rents for office space in San Francisco jumped 13.6 percent year over year to $34.30 per square foot in 2006 while they climbed 10.8 percent in Silicon Valley to $28.20 And here’s why Bay Area commercial rents are up. Strong demand caused vacancy rates to fall to 10.6 percent in San Francisco and 11.2 [...]
Bob Bruss Here is a common occurance. How often is it an attempt by the listing agent to jack up the price or add urgency to the buyer? I don’t know. Often times it’s legit. My niece has made 3 offers in the last several weeks for super inexpensive homes in central Phoenix. All 3 [...]
Here is some advice for home sellers with pets: 1. Remove photos of pets from the walls, shelves, or refrigerators. 2. Clean food and water bowls regularly, and hide them when not in use. 3. Stash away pet toys, crates, carriers, and leashes. 4. Vacuum carpets, upholstery, and wood floors. 5. Keep litter boxes clean [...]
“The Conference Board reported Thursday that consumer confidence was at 109.0 in December. That is only slightly below last April’s 109.8, when confidence hit the highest point in four years. The slumping housing market and gas prices have been blamed for its more recent declines.”
Economists often talk about how housing prices are “sticky” on the downside. Here’s a good example, from California. Home sales plummeted 44 percent in November across the Coachella Valley compared with a year ago, while the overall median home price dipped about 1 percentage point to $395,000, a new report shows.
Maybe because it’s good news, the fantastic year for U.S. commercial real estate has gone largely unnoticed in the popular press. Office buildings, which account for 8 of the year’s 10 biggest real estate deals, represented $105 billion in transaction volume in the first 11 months of 2006, a 31% increase over the same period [...]
Economists are all over the place on whether the housing slump will pull the U.S. economy into a recession. The difference of opinion is leading to an enormous amount of uncertainty heading into the new year, with some economists predicting a recession and others forecasting continued growth… The good news is that far more economists [...]
Just to bug Californians I’ll say Houston is the new Silicon Valley… but with affordable housing. It’s been over 25 years since the last oil boom, so they’re due.
by Phoenix attorney Christopher A. Combs, partner with Combs Law Group, P.C. Question: During the inspection period, the buyer did not notice any odor in the home. After the inspection period expired, however, the buyer then noticed a very strong foul odor in the home. The seller’s cleaning lady told the buyer that the seller [...]
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