A concern among Realtors® who change firms is the amount of time it takes for their licenses to become active with their new brokerages. Last week, we told you about why some license transfers were taking a little longer than others.
The latest quarterly commercial real estate forecast from NAR has zero surprises (and that’s just fine). It says that yes, the CRE market is recovering with the rest of the economy, “but a slowdown in job creation and ongoing tight loan availability has tempered growth in some areas.”
Hard to argue.
Jobs are growing, but never as fast as we’d like. Loans are available, but lenders are still cautious, and that caution is making it harder for businesses, especially smaller ones, to get loans.
Although there are still concerns about commercial mortgages coming due and adversely impacting the market, two reports highlight the positive side of the commercial scene.
First, Morningstar looked at real estate mutual funds. Turns out they have an annualized return of 33 percent over the past three years, and have attracted almost $3 billion in new investment, while other industry groups have seen investors pulling out. (The company also notes that the commercial market wasn’t nearly as overbuilt the way homes were, so it wasn’t hit as hard by the housing crisis.)
If you could do just one thing next year guaranteed to ratchet-up your earning potential and real estate knowledge and create a personal referral network that could pay dividends for the rest of your career…would you do it?
Perhaps the more appropriate question is: Why wouldn’t you?
Virginia REALTOR® Leadership Academy (VLA) graduates say it’s the best way to supercharge your real estate career.
Commercial Realtors have their own reasons for attending the ginormous Realtor Rally to Protect the American Dream (rPad), as NAR treasurer Bill Armstrong explains in an audio message.
The Urban Land Institute released its semi-annual Real Estate Consensus Forecast, in which it surveyed 38 leading real estate economists and analysts from “major real estate investment, advisory, and research firms and organizations” about their views on the upcoming real estate market.
And it looks like good news. Or, rather, it looks like the consensus is that we’ll be getting good news.
Over the next three years, those real estate experts expect “broad improvements for the U.S. economy, real estate capital markets, real estate fundamentals, and housing,” and “believe that most facets of the U.S. real estate economy will strengthen considerably or remain healthy through 2014.”
VAR wants to keep you in the loop wherever you want to be, whether that's on our website or somewhere else online. Check out all the places where you can find VAR products, services, and information designed to help you keep up with the Virginia real estate markets. Click on the icon to connect with us across the web.
Simply log in below (it's the same information you use to access members-only parts of the VAR website, so if you haven't previously changed your password: your username is your e-mail address and your password is your NRDS number (NAR database number).
CVRMLS Legal Counsel Michael Lafayette has written a Commercial Contract for transactions involving the resale of small to mid-sized commercial properties, such as office buildings and warehouses, retail stores or shopping centers, multi-family (less than 10 units), or other similar uses. This workshop includes a review of the new CVRMLS Commercial Contract and the CVRMLS Commercial Property Listing Agreement.
Approved for 3 Hours Real Estate Contracts for CE; 3 Hours Elective for PL.
Early registration ends February 29th.
For further information, contact RAR - (804) 422-5000.