Monthly Archives: July 2011

Columbus, Ohio Ranked as #1 – Accessibility to the American Market

Columbus_Metro

It has been claimed for as long as I can remember that Columbus has the best access to the American market.  Three Scale Research tested this claim and found it to be true.  They used the 2010 census and calculated the population within a 500 mile radius or a day’s drive or an hour or so…

Enough Bad News – Let’s Look at Some Real American Creativity

Cycle-Tavern-3

Only in Columbus – a bar bike.  Burn your buzz while you’re getting another one.  American ingenuity at its finest and oh so appropriate for Columbus.  It would be some real excitement and hilarity on ice in the winter.   http://www.columbusunderground.com/cycle-tavern-launches-bar-hopping-tours-powered-by-16-passenger-bike-vehicle  

Android App for Loopnet

Android_Main

For those of us in this business who are Droid users welcome the introduction of the Droid app for loopnet, available in Market or the link below.  http://blog.loopnet.com/2011/07/introducing-loopnet-android-app.html I’ve loaded it, but haven’t used it much yet.  From what I can tell, it seems to work fine.

Central Ohio – Longaberger Estate For Sale

At 57,000 square feet this is no starter home, but is the largest private home in Central Ohio, just east of Columbus, reports the Columbus Dispatch and is available for a paltry $15,000,000.   Seller, Tami Longaberger is the CEO of the Longaberger basket-making company.  Cool video too. The Columbus Dispatch – Longaberger Estate For Sale

CoStar – iPad App for Commercial Real Estate Brokers

Real Estate information provider CoStar Group just introduced its first ever app for Apple’s iPad “This is completely different,” said Andrew Florance, the firm’s founder and CEO, speaking to industry officials and reporters at an information session in Manhattan on Wednesday, where he introduced the app. “This takes instant information to the situation (brokers are)…

1031 Exchanges Explained – the Basics

Once every six months or so I post a basic primer on 1031 Exchanges.   This one is more for first timers and doesn’t cover anything more esoteric such reverse exchanges.   This is still a viable way to sell your current property to invest in one or more new ones and delay paying the capital gains taxes….

Southern California Residential Real Estate Home Sales – June 2011

In Southern California 38,975 new and resale homes sold last month.  That’s up 9.7% from May 2011 and down 11.4% from June 2010, which was the last month of the Home Buyers’ Tax Credit.  Median price was $253,000, which was up 1.6% from May 2011 and down 6.3% from the $270,000 median of June last…

Post # 200

For my 200th post, I’ll put up something fun instead of the gloomy news that’s accidentally been the focus of my last few posts. There’s a very fun event coming up on August 20, 2011,  and that’s Detroit’s Dream Cruise – the largest one day car event on the planet.  Actually, the fun nights are the…

America Moves Toward Renter Society

This one ties in closely with what I posted yesterday regarding the decline in home ownership in the country.  The national rate, which stood at 66.4% at the end of March would be just under 60% when you deduct the 7 ½ million delinquent home owners who may be forced into renting.  The lowest home…

Home Ownership – The American Dream or Nightmare?

One of my favorite analysts, Mark Heschmeyer of CoStar News, authored a thought provoking piece on the reality of the American dream being home ownership by talking to real estate professionals throughout the United States.  This is a good piece and worthy of the few minutes to read it.  I think the net of this…

Wynn Resorts’ Steve Wynn – Q2 Earnings Conference Call

I made a decision when I started this blog two years ago to keep politics out of it – mostly.  I’m sure anyone who has read my writings over the last couple of years can pretty well guess which side of the fence I’m on, but I wanted to keep it pretty milquetoast here.  Lord…

Housing Starts Rise

Considering that this one originates from the NRA, you’d expect a little positive spin here and you get a bit.  Good news is that single family starts rose 9.4% last month, and the bad news is that it’s still about half the 1.2 million starts that is considered a healthy market.  Still though, we’ll take…

Continued Investor Faith in Commercial Real Estate

There are big storm clouds on the horizon and it’s not showing yet in the numbers.  Business like predictability, good or bad, and the current uncertainty will damage the numbers for third quarter, I think.  Anyway, all we have to deal with to date is fact, and the facts we now have for May 2011….

Real Estate Capital Surges in the Second Quarter

A reported $35.48 billion was raised in the second quarter for acquisitions and refinancings.  The total for the first half was $66.43 billion.  It took nine months last year to raise the same.  Of what was raised, $5.42 was to be used to repay debt, while $30.5 billion was targeted for acquisitions and investments.  $5.49…

Stabilizing Prices Brings LaSalle Back into the Game

Waterfront Plaza

LaSalle Investment Management is forecasting $2 billion of property investment in 2011 primarily in major markets such as Southern and Northern California, Chicago and Washington, DC. They also expect 2011 to be an active year for recapitalization of high quality assets in commercial and multifamily.   “There are a number of high quality assets which are…

1031 Exchange Expert – Steve Rosansky – Nine reasons to Buy Investment Real Estate Now

I’ll do a real quick summary of his points then link you directly to his article. 1031 Exchange Opportunity – Exchange one property with a low basis for another or more better performing or located properties. I might also add that while capital gains rate is still at the 15% maybe it’s better to cash…