Of the top 200 U.S. markets, Columbus ranked second with a score of 30, only behind Houston (33) and followed by Orlando (29), Charlotte (28) and Salt Lake City (28). The job creation score was created based on a survey of local employees with a question of whether their employer was adding or cutting jobs. …
The Columbus and Central Ohio MSA new and resale homes report show that the market remains strong and is getting stronger. Homes sales for the quarter were up 17.6 percent over first quarter last year and pending sales are up 19.3 percent. Median price at $135,000 for March was up 4.9 percent over the $128,650…
Prices are still trending upward. Homes prices in the Columbus and Central Ohio area are up from same month last year with an average price of $169,413. That’s up 8.1 percent over September 2011. 1,859 homes in Columbus and Central Ohio sold during September 2012, which is 2.5 percent increase over August 2012. Year to…
Reis Reports announced that the 126,022 unit Columbus / Central Ohio multifamily market vacancy rate had fallen to 6.1 percent by the end of the second quarter 2012, which is the latest quarter we have numbers for. That’s down 30 basis points over the prior quarter and down a whopping 190 points from second quarter…
Single tenant, net leased retail has continued to gain strength as an asset class. With an economy barely growing, one could wonder why is triple net and absolute net retail as strong as it is? Given what else is available as a safe investment, it’s no wonder net leased retail is doing well. Ten year government…
The news is good again. Homes prices in Columbus and Central Ohio are up from same month last year with a average price of $178,766, which is up 6.4% over the same month last year. 2,326 Central Ohio homes sold during August 2012, which is an 12.3% increase over August 2011. Year to date home…
Great news: homes prices in Columbus and Central Ohio hit their highest in five years with a average price of $186,781, which is a whopping 10.3% higher than July 2011. The higher priced areas saw the biggest gains, which is even better news in my opinion. 2,096 Columbus and central Ohio homes sold during July…
I’m not saying that we’re quite back to pre crash levels of pricing but we’re getting there. Given the general malaise in the American economy with job growth, GDP growth and most other indicators, it’s surprising that the commercial real estate recovery has been as strong and broad based as it has. It didn’t start…
Residential home sales are gaining strength in Columbus and Central Ohio according to the Columbus Board of Realtors. May 2012 homes sales were up for the fifth consecutive month to 2,070, up 5% from the 1,971 sales in May 2011. Year to date is 7,966 up 6% from 74,51 in the same time period last…
Columbus Board of Realtors reported April home sales numbers today and its looking good. Unsold inventory is down and has been falling for the past 18 months, units sold are up and prices are up sharply. Unsold inventory is down 30.7% from this time last year. The number of new listings are down 4.2 year…
Many folks are aware that Starwood Capital Group agreed to acquire $1 billion in seven shopping centers from Westfield and KKR. As Starwood is starting to acquire retail commercial real estate we expect other REITs to do the same across the country as an expected surge in new retail properties are expected to hit the…
A strengthening residential market seems to be the rule around central Ohio over the last year and its getting stronger. First quarter 2012 homes sales for Central Ohio were up 7.1 percent over first quarter 2011 with 4,045 this year versus 3.776 last year. The average price for March 2012 was $153,557, which is up…
True, many banks are still working through their distressed property pipeline, but many have recently decided that it’s time to jump back into commercial lending, and yes, even for development and construction financing. It must be noted though that this is one area that brought down more banks during the downturn than any other. The…
Randyl Drummer with CoStar News reports that the rebound in office type jobs is becoming strong enough that we could see rent growth in the near future. The growth spreading to smaller businesses and secondary markets coupled with positive absorption and little new supply coming on the market will lead to rent growth over the…
It was just announced by Mark Heschmeyer at CoStar News that Blackstone, DRA Advisors and AEW Capital invested in large industrial portfolios valued at a total of $1.5 billion. That’s over one third of all industrial sales completed this year. The industrial segment has been healing nicely this year with vacancy falling almost a full point…
First quarter 2012 softened a bit as compared to fourth quarter 2011, but net absorption remained positive according to Mark Heschmeyer of CoStar news. Plus, a mild slowdown in the rate of recovery is balanced by the lack of new commercial space coming out of the ground so as a result, vacancy rates are still…
An Atlanta Developer has signed on to build a $50 million apartment complex with groundbreaking scheduled for late this summer and completion for late winter 2014. The complex will consist of three six story buildings with 300 units over 23,000 sq ft. of first floor retail. Apartments will be built to “condo specifications,” Capitol South Community…
As many of us are aware, unless congress takes action, the top tax rate of dividends will increase from the current 15% to 43.4% next year. That’s a top ordinary income rate of 39.5% plus the 3.8% on investment income as part of Obamacare passed in 2009. Another good reason for commercial real estate and…
Dublin Ohio’s 800 acre core has been slated for a massive redevelopment effort along Bridge Street from Frantz Road to Sawmill Road. Now, Dublin has a plan that will redevelop the corridor “into a mix of high density uses – an urban, walkable community that will include new options in housing, entertainment, retail and areas…
This is the last reminder because valuation appeals are accepted from December to March 31. Your chances of winning are about half so it’s well worth doing, but must be done correctly and very soon. It’s the 27th so get moving. Lock your new, hopefully lower, valuation in for three years. Take a look at the…