News About Properties

News about properties and real estate
February 17th, 2008

Real Estate Transactions for Non-Profits Can Be Daunting

Real Estate Transactions for Non-Profits Can Be Daunting

The sale of a church building is not like other commercial transactions.

“Although we have to follow the same legal guidelines and regulations as any commercial property for office or industrial use, non-profits also have to have IRS approval. They have to have their 501(c)(3) documentation. The government requires many reports and more data necessary for the sale to be able to go through,” he said.

“There are so many requirements,” said, citing fire department and building and safety issues.

February 14th, 2008

Uncertainty figures into forecast for Denver commercial real estate

Uncertainty figures into forecast for Denver commercial real estate

This year appears to be one of uncertainty for commercial real estate in metro Denver, according to a new report by CB Richard Ellis Inc.’s Denver office.

Volatile capital markets, tougher lending standards and 2008 being a presidential election year are among the trends that will effect real estate this year.

But even though sales of commercial properties won’t be as robust as those of recent years, sales volume “should pick up again, as investors get comfortable with more conservative underwriting and pricing,” the report said.

The metro area’s economic stability, relative to the rest of the country’s, also will be a plus for investors this year. An estimated 100,000 people will be added to the Colorado population in 2008, helping to cause a 1.9 percent boost in non-farm jobs.

February 13th, 2008

Alberta real estate sales increased in 2007 [Canada]

Alberta real estate sales increased in 2007 [Canada]

Alberta ended 2007 with $25.5 billion in residential MLS sales, up 19.9 per cent compared with 2006, according to a report released Monday by the Canadian Real Estate Association.

The report also said that overall sales were down by 3.9 per cent last year from a year ago to 71,430 units but the average sale price increased by 24.8 per cent to $356,235. New listings also had a 32.9 per cent hike for the year to 124,933.

In December, though, the real estate market dipped in Alberta. Total dollar volume was down 15.6 per cent compared with December 2006 to $1.1 billion and total sales were off 24.3 per cent to 3,049 units. The average sale price, however, increased by 11.5 per cent to $354,290 while new listings also increased by 16.1 per cent to 4,192 units.

CREA said national MLS resale housing activity, new listings, average price and dollar volume all reached their highest annual levels ever in 2007. Annual sales activity totaled 520,747 units in 2007, up 7.6 per cent from 2006 levels. This was the largest annual sales growth since 2002, and the first time transactions via the MLS systems of real estate boards in Canada have surpassed 500,000 units sold in one year.

February 13th, 2008

CEO Survey on Sustainability Reveals Focus on Corporate Real Estate

CEO Survey on Sustainability Reveals Focus on Corporate Real Estate

A new global survey of 1,254 senior business executives, including more than 300 CEOs, shows that energy efficiency plays a central role in corporate sustainability efforts — a finding that has implications for how companies manage their real estate. Fifty-two percent of all respondents named energy efficiency as one of their leading sustainability priorities, a goal that is addressed primarily or solely through real estate strategies.

The survey, conducted by the Economist Intelligence Unit (EIU), was co-sponsored by global real estate services firm Jones Lang LaSalle and seven other leading companies from different industries: A.T. Kearney, Bank of America, ExxonMobil, Orange, PricewaterhouseCoopers, SAP and SunGard. The overall report, issued by the EIU today, sheds light on the growing importance of corporate sustainability in enabling companies to compete and to attract customers. While the survey did not focus specifically on real estate topics, 46 percent of respondents selected one of three real estate strategies as the number-one sustainability priority from a list of 10 possible priorities.

“CEOs and other corporate officers are very focused on improving sustainability, but they may not realize the major impact their real estate departments can make in achieving their goals,” said Dan Probst, Chairman, global environmental sustainability board at Jones Lang LaSalle. “As this study shows, the path to sustainability often starts with real estate and facility strategies.”

February 3rd, 2008

Real estate down; offices close [California]

Real estate down; offices close [California]

The current housing slump, which is expected to continue through 2008, is causing local real estate businesses to close their doors.

“Unfortunately, when the market peaked we had a lot of properties pop up,” said Carolyn McNamara, owner of the McNamara Group, a local realty company that has been in business for almost 20 years.

“My projection is in the next six months we’ll see 20 percent less of the offices up here than we do now.”

McNamara said that there were five or six real estate offices in Phelan until the housing boom, when the number jumped to 12. Two of those have already closed since the housing downturn, McNamara said.

February 3rd, 2008

The changing face of real estate

The changing face of real estate

It’s no secret that today’s consumer is more equipped with information than ever before. From EBay, Google and blogs, to online retailers and consumer advocacy sites, buyer behaviour has never been so fragmented, yet thorough.
Gone are the days when you would walk into a store, do a few price comparisons, and walk out with something. When you want to buy a digital camera or computer, you don’t leave home. You do your research on the Net, and you’ll likely make your purchase online, too.

Real estate is another market segment in which the Web is having significant impact. In the past, interested customers would phone a Realtor’s paging service, leave their phone number, and wait in trepidation for real or perceived pressure to buy, sell or at least set up a meeting.

Today, the Internet has given even tire-kickers the expectation of being able to find out what they want, when they want it — in virtual anonymity.

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