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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
I Remain Very Positive About Commercial Real Estate
Posted on 12/27/2006 05:42:00 | Link | Post Comment
Business Real Estate Outlook Sunny for '07
from the Arizona Republic, reports that most real estate experts expect commercial real estate in the Valley to have a very merry 2007. The consensus is that rents in all sectors will grow, vacancies will remain low, and institutional investors will continue pouring money into the area. The Valley is expected to be the choice location for companies that have traditionally looked to Southern California, Dallas, Denver and Atlanta to set up warehouses and office support. Economists are expecting that supply and demand for commercial real estate will be in balance in 2007, said Lee McPheters, director of the JP Morgan Chase Economic Outlook Center at ASU. "There's nothing right now putting the brakes on it," said Mc Pheters. The article gives individual forecasts for the industrial, office, retail and multi-family sectors. Very positive!
HOW TO PROFIT FROM THE OFFICE CONDO BOOM NOW!
Arizona again tops at growing population from the Arizona Republic,
reports that Arizona's new ranking as the nation's fastest growing state highlights the challenges to keep up with the growth. A stepped up need for infrastructure, especially highway construction, is a top priority for state lawmakers. School systems needs for new schools and water for people living in cities far from water sources are other challenges that the growing population brings. In addition, Arizona's political climate is changing as well, as new population changes it from a conservative haven to a more evenly balanced party affiliation. The article also notes that our state has a 4.5% growth rate in job creation over the last 12 months. Economic sectors that include transportation, trade, business services, health care and hospitality industries are all setting record job levels in the state.
As luxury condos rise, demand hard to gauge from the Arizona Republic,
reports that more than 30 high-end urban condo projects are either finished or under construction in the Valley, and more than 20 of these projects, mainly in Phoenix and Scottsdale, contain units costing $1 million or more. There is disagreement over whether developers have piled into what is essentially a niche market. "There are just too many of these luxury condos," said Bob Kammrath, a Phoenix commercial real estate analyst. "For the life of me I can't fathom why they would be appealing here. People with that kind of money can buy a nice house and hire someone to take care of the yard," he added. On the flip side, Keith Mishkin, founder of Cambridge Properties, a Phoenix company specializing in urban condos, says "I don't think we have scratched the surface. With more urban product, you create a critical mass and create a community where people can live, work and play in places that are walking distance for them." The National Association of Home Builders sounded the alarm on condos in April, saying developers jumped on the bandwagon during the boom and the market is becoming oversaturated. The big question here is how many buyers are there for this product?
from the Arizona Republic, reports that most real estate experts expect commercial real estate in the Valley to have a very merry 2007. The consensus is that rents in all sectors will grow, vacancies will remain low, and institutional investors will continue pouring money into the area. The Valley is expected to be the choice location for companies that have traditionally looked to Southern California, Dallas, Denver and Atlanta to set up warehouses and office support. Economists are expecting that supply and demand for commercial real estate will be in balance in 2007, said Lee McPheters, director of the JP Morgan Chase Economic Outlook Center at ASU. "There's nothing right now putting the brakes on it," said Mc Pheters. The article gives individual forecasts for the industrial, office, retail and multi-family sectors. Very positive!
HOW TO PROFIT FROM THE OFFICE CONDO BOOM NOW!
Arizona again tops at growing population from the Arizona Republic,
reports that Arizona's new ranking as the nation's fastest growing state highlights the challenges to keep up with the growth. A stepped up need for infrastructure, especially highway construction, is a top priority for state lawmakers. School systems needs for new schools and water for people living in cities far from water sources are other challenges that the growing population brings. In addition, Arizona's political climate is changing as well, as new population changes it from a conservative haven to a more evenly balanced party affiliation. The article also notes that our state has a 4.5% growth rate in job creation over the last 12 months. Economic sectors that include transportation, trade, business services, health care and hospitality industries are all setting record job levels in the state.
As luxury condos rise, demand hard to gauge from the Arizona Republic,
reports that more than 30 high-end urban condo projects are either finished or under construction in the Valley, and more than 20 of these projects, mainly in Phoenix and Scottsdale, contain units costing $1 million or more. There is disagreement over whether developers have piled into what is essentially a niche market. "There are just too many of these luxury condos," said Bob Kammrath, a Phoenix commercial real estate analyst. "For the life of me I can't fathom why they would be appealing here. People with that kind of money can buy a nice house and hire someone to take care of the yard," he added. On the flip side, Keith Mishkin, founder of Cambridge Properties, a Phoenix company specializing in urban condos, says "I don't think we have scratched the surface. With more urban product, you create a critical mass and create a community where people can live, work and play in places that are walking distance for them." The National Association of Home Builders sounded the alarm on condos in April, saying developers jumped on the bandwagon during the boom and the market is becoming oversaturated. The big question here is how many buyers are there for this product?
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