According to the Texas Home Builders Association. New Home Starts in August were 580,000 Septembers it was 600,000. It is not a huge jump but it is a jump in the right direction.
This is great news in the middle of all the bad news in the world.
Maybe things are turning slowly but turning the right way!
"The sharp drop in valuations of commercial real estate properties during the past year may be nearing a bottom, according to Los Angeles-based CB Richard Ellis Investors, in its recently released installment of "Investment Research Quarterly". Although the bid-ask gap remains wide between buyers and sellers, three indicators are providing some evidence that pricing will bottom out sooner than later.
First, the sharp pricing correction that has already taken place will continue to have a dramatic impact on sellers' expectations, the authors of the report conclude. The NCREIF Property Index depreciated by 9.5% in the fourth quarter of 2008 and 8.7% in the first quarter of 2009, the two worst quarters in the history of the index that spans more than 30 years. Over four quarters, the index registered a cumulative depreciation of 19.1%. "By contrast, during the last severe real estate downturn in the early 1990s, it took the NPI ten quarters - from the end of 1989 until mid-1992 - to register the same drop," according to CB Richard Ellis Investors. "The increasing willingness of investors to recognize lower value for assets they currently own is putting pressure both on the appraisers to lower values and sellers to reduce asking prices," the report states. "This means that while the pricing downturn in the early 1990s took many years to bottom out, the current downturn is much sharper, and therefore may be shorter."
Second, the recent upturn in the performance of publicly traded REITs is viewed as significant because REITs have historically acted as an early indicator of pricing declines and recoveries in private markets. After bottoming out in March of this year, REIT stock prices rose 49% year-to-date through June. "Just as REITs led the private markets in 2007 and 2008, it is probable that the recent share price recovery is an early indicator that a trough in private markets is coming soon," writes CB Richard Ellis Investors.
Third, the volume of property sales has fallen to such low levels that deal activity has no place to go but up. During the first five months of 2009, commercial real estate property sales totaled $13.8 billion, a 78% drop from the same period a year ago and 93% off the 2007 pace, according to Real Capital Analytics. "As cash-constrained owners increasingly become unwilling sellers, transaction activity will pick up," concludes CB Richard Ellis Investors. "An increase in sales will provide needed pricing information to both sellers and buyers. This transparency will both encourage more sellers to offer properties at realistic prices and provide buyers with the confidence to re-enter the market.""
From my friend at Lone Star Commercial
If you are looking for a place to open a business in Keller Texas we have several options at some of the best prices around. We have frontage on Denton Highway (Highway 377).
There is 1500-15,000 contiguous space available starting at 9.00 a sq ft plus NNN. There is also a One (1) acre track with possibility of a build to suit of up to 13,000 square foot building. The Seller is willing to do a Lease to purchase on this property.
We have a stand alone building at 424 Keller Parkway 1700 plus sqft. good visablity, would be great for a salon, professional office or medical space.
Shopping Center at 461 Keller Parkway there we have 1500 to 6000 contiguous rentable space lower than centers next to it.
We have links to specail financing available for Doctors if they are looking for a place to open their own practice.
The market is hopping in this area it is time for you to go into business in Keller Texas.
Contact me at cindiestewart@soldteam.net
I am getting so excited about this event. It has turned my business and thoughts of what being a Texas Realtor is all about.
Women's Council of Realtors has been a career enhancement.
If you have never attended one of these evnts you are really missing out!
Other than your travel expenses and a few selected events the meetings are free to you! Education is so very important especially these days.
If you are not in the KNOW you will be in an UNknown.
Come get a tune up for your business before you go over your recommended mileage is up.
See you there!
Cindie
"GOOD COMMUNICATION IS AS STIMULATING AS BLACK COFFEE...AND JUST AS HARD TO SLEEP AFTER." Anne Morrow Lindbergh And communication on the new $789 Billion Stimulus Plan has been flying fierce over the past week, resulting in late nights for Congress and probably more than a few cups of coffee. President Obama is certainly hoping the new plan will wake up the struggling economy, and breathe some life back into the housing market as well.
The tax credit in the Stimulus Bill has been scaled down to $8,000 from its previous level of $15,000, or 10% of the value of the home for any first time homebuyers who purchase homes from the start of the year until the end of November. It starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000, and buyers will have to repay the credit if they sell their homes within three years.
In addition, there's news that the Obama administration is trying to hammer out a new program to subsidize mortgages to fight the credit crisis. The plan would seek to help homeowners before they fall into arrears on their loans, whereas current programs only assist borrowers that are already delinquent. There are no details yet on this plan, but I will be monitoring this news closely in the weeks ahead.
I am very active with Womens Council of Realtors. I have been a Realtor since 1992 and love this career. I am passionate about making it a profession that people respect. I am a guiled Luxury Home ceritified Expert, Epro
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