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Real Estate Terminology 101
I talk daily with people interested in leasing property and have discovered that the way brokers price property for lease is not very helpful to the public. The small business owner, or start-up company, just wants to know what the rent is for a particular suite, but we in the industry price it by the foot per year on a triple net basis. Now, …
Dare we hope?
I ran across this Case-Shiller housing index graph. We are all painfully aware of the current news with failing banks and failing countries! The Dow has lost almost 40% of its value this year and the housing market is taking the blame for it all. This chart shows the historic values from 1990 to the present, and as we know, the housing market across …
$700 Billion
I cannot even imagine how much money that is. The real question is will this bail out have the desired effect of liberating the commercial credit markets from non-performing, or under performing “sub prime” loans allowing them to start lending to banks and businesses. And will it happen soon. Another question without an answer is what are the long-term effects of this bail out. …
Jeff joins Lepic-Kroeger, Realtors
After 13 years at Coldwell Banker Real Estate Professionals why change companies? I out grew it. CB is a great company to learn the business and they have loads of resources for newer agents. Lepic–Kroeger offers more oportunities for more experienced agents and as a result of that, has more experienced agents. The agent pool sells more properties and so, this association is better …
New year, new opportunities
Wow…have I been remiss in posting new material. The market has been so strange and difficult to predict that I just waited on the sidelines and watched the sales to see what was happening. It seems that sales are about the same in 2008 as they were in 2007. This is a good sign. Interest rates are creeping up to just under 7%. This …
Home sale prices off 10% for 2008
Yikes! Home prices for 2008 will be down 10% nation wide! Some markets like Miami are down almost 30%, followed by San Francisco which is down by 25%. Iowa City is somewhat insulated from national trends, but it not immune to the influence of national real estate trends.
NAR home sales prediction
So, what’s the deal? We’re all trying to look into the crystal ball and see what our home value future is. Well, the NAR is indicating that 2005 was a banner year for sales, they dipped and will be increasing through 2007 and 2008. Keep in mind that these are numbers of sales and not sales prices, but it is good news for the …
New Demographic Reports
I have just posted new demographic reports for the Johnson County, Iowa area on my commercial website. Go to http://www.iowacitycommercialbroker.com/ and select the demographic tab. I love these reports. They offer in depth, current infomation about this area and give some sort of foundation for decision making.
New market snapshot feature
I just put a new button on my website titled “market snapshot”. Unfortunately some of what we do is marketing fluff, but this is the real deal. The link sets up a market snapshot based on your search criteria and emails you a full featured, graphic report showing meaningful statistics, maps, and photos. I am excited about this tool and invite you to give …