Monthly Archives: February 2012

Columbus – Central Ohio Owners – Property Tax Appeals Due March 31st

Just a reminder.  Valuation appeals are accepted from December to March 31.  Your chances of winning are about 50 – 50 so it’s well worth doing, but must be done correctly.   Lock your new, hopefully lower, valuation in the for three years. Take a look at the short article at the link. Columbus Realtors.com – News…

Northeast Ohio Jobs and Utica Shale

The Utica shale gas resources are forecasted to bring an addition 65,000 at an average $50k per year to the long suffering Northeast sector of Ohio.  The area has been Ohio’s highest chronic unemployment since the steel industry shut down in the late 70s and early 80s. According to the study Ohio’s gross domestic product…

Retail Sheds Fears of Double Dip

The first half of 2011 saw strong leasing and buy activity, but after the debt limit negotiations last summer, the 2nd half was gripped by uncertainty and near certainty of a double dip.  Fears subsided by year end and so far this year there has been strong activity beginning the second week of January. Gerry…

Columbus and Central Ohio January 2012 Residential Homes Sales Report

Better times continue to get better for Columbus and Central Ohio residential real estate as 1,125 sales closed last month, a 6% increase over January 2011. Better yet is that 1,845 residential homes and condos went into contract last month which is a 40% increase over same month last year according to the Columbus Board…

Southern California Home Sales for January 2012

DQ News reported that 14,523 new and resale homes sold last month.  That was way down from December by 24.5% but up .4% from January 2011.  Normally, sales are down from December to January because investors frequently want to close before year end and traditional residential buyers hold off until March or so to get back…

Mortgage Bankers Association – Continued Growth in 2012

Commercial real estate lenders are expecting to build on a very good 2011 with a stronger 2012.  Barring international shocks such as a war with Iran or disruption in oil supplies, 2012 should see a loan volume in the range of $230 billion, up 17% from 2011, and continue to rise to $290 billion by…

Retail Rents Begin to Rise in 2012

Randyl Drummer from CoStar news writes, and I agree, that retail rents will begin to rise this year. It’s not so much a huge increase in demand as much as there is virtually no increase in supply.   The supply / demand balance is tipping in favor of the landlord.  Construction financing is still a pain…

Real Estate Photography

I though this also might be of interest to a few of my readers.  A comment came up on a residential blog named Active Rain that I also wanted to address here.  I’m on the ‘other’ side of the business where picture quality isn’t a big deal, but it still is to me.  I think it’s…

Banks Move Carefully Back Into Commercial Real Estate Lending

For the first time in five years, a majority of banks are considering growing their loan portfolio due to improving conditions in just about all sectors of the economy. There’s neither an overwhelming consensus nor a large gain in activity, but most banks feel that they are through the worst of the write downs and…

Columbus – Central Ohio Readers – Property Tax Appeals

Valuation appeals are accepted from December to March 31.  Your chances of winning are about 50 – 50 so it’s well worth doing, but must be done correctly.   Take a look at the short article at the link Columbus Realtors.com – News – Property Tax Appeals

Strong Comeback for Commercial Real Estate

It’s back!  Business is cranking again and the phone is ringing.  CoStar news reports that the dollar volume of commercial real estate transactions are back up to historical long term average and that’s with a lousy third quarter 2011, due mostly to the debt limit impasse  That’s a total of $291.6 billion last year, which…

Columbus Ohio January Commercial Real Estate Construction Review

DAI-Arena-District-Columbia-Gas

The unseasonably warm January weather has helped keep many of the new Columbus Ohio commercial real estate downtown projects on or ahead of schedule. Walker Evans from Columbus Underground brings us up to date on many new downtown projects such as the new apartments at Grandview Yard, The Columbia Gas Building, FBI Building, Nationwide Offices, Hilton…