Real Estate News August & September 2011
Posted by Dario Lorenzo in Blog on September 13, 2011
|
National Apartment Market Pushes Toward 6.0% Annual Effective Rent Growth Axiometrics Inc., a provider of data and analysis on the multi-family housing sector, announced today in its latest research report that, like the weather, the national apartment market continued to heat up in May, with effective rents (rents net of concessions) increasing 0.70% from April levels…Rest of story »
|
||||||||||||
A STORY about overcoming challenges, fear and the tricks your mind will play with you…Posted by Dario Lorenzo in Blog on August 30, 2011 Hello, I hope this message finds you well and I hope you’ve done something over the past few weeks to get you closer to investing in real estate…I’d like to hear what you’re doing so feel free to drop me an email. I have so much to tell you…this is going to be a long post, but I think if you take your time and read the entire story you will definitely learn a few things. I know I have and that’s why I’m sharing this story with you…. I’m sitting in a Starbucks today eating a three layer delicious chocolate cake…it’s awesome. I’m here and not at the beach because for the first time in 8 months it’s raining lightly. It’s nice because its cooler today however I can feel the humidity coming in. Earlier this month I rode a Harley Davidson Road King from Phoenix to Cabo San Lucas all by myself so let me tell you about overcoming challenges, fear and the tricks your mind will play with you… I arrive to Phoenix on I think July 22nd on Thursday night and I see the bike for the first time. This bike is huge… it weighs 765 lbs. and because I want to go for a run I just leave it and go get changed. In the morning I go to the bike and try to start it but I don’t know how…because I’m a man I don’t call anyone for help and after pressing a combination of buttons I finally get the engine to turn but I don’t start it just yet. Now I really realize just how big this bike is…as I go sit on it and I try to lift it I have to get the best footing I can considering I’m on my tip toes and hive the bike to an upright possession. Ok, now I have to back the bike up and out of the garage. Lucky for me the garage has a bit of a slop so I can manage to get it out on my own. I start it up and the engine is louder than expected and the bike is vibrating between my legs. I think to myself with a smile on my face the power feels awesome… I carefully start rolling forward and I’m off…the power on this bike is insane. It’s basically a huge engine on two wheels all held together by a few pipes welded together. As i come to my first red light I go to stop and almost fall over because I’m not use of the weight of the bike. After running around picking up a few things for my road trip I come back home and manage to park the bike without any problems. I go straight to my computer to goggle my route. I research how far a full tank of gas will go, and plan where I’m going stop to get gas. I also plan how fast I’m going to ride considering how long it’s going to take to get gas and food so I can trying to figure out at what time I will get to the US / Mexico border and where to sleep the first night. Because in Phoenix it’s 43 degrees Celsius and Cabo its 38 degrees Celsius I pack light. Actually I didn’t pack anything except a tooth brush and toothpaste…Figured I would make the trip in two days. I charge my three cell phones, iPod and anything else with a battery and grab twelve 500ml water bottles. My thought is to stay hydrated by dinking one bottle per hour.
It was 1am the last time I looked at the clock before waking up at 5am. Shower, get dressed, double check my backpack, and loading everything on the bike…as I’m about to leave I think to myself…I have room in the side satchels so I should take my leather motorbike jacket because I don’t want to carry it on an airplane in the future and head out. Its 6am and I’m on the highway and so far everything is going as planed and I’m on schedule for about two hours before I start falling behind…In Yuma, AZ I have to stop at a Harley Davidson Dealer to buy a lock for the bike that I conveniently remembered while on the highway that i forgot to pick up the day before. Everyone is telling me the highway is very dangerous…lots of banditos looking for dumb Americans to rob. Because I’m riding a Harley when I stop to sleep over night someone will definitely steal the bike…I don’t believe them but better safe than sorry. I’m also soaking wet from perspiring…its 45 degrees Celsius and at 120 KM per hour it’s just hot air hitting your body like a hot blow dryer. Then I run into a crew fixing a perfectly good highway so by the time I get to the US / Mexico border I’m three hours behind schedule. And it’s cold for some strange reason. I figure it’s just me because all my clothes are wet and the air by the coast is usually cooler so i think to myself once I dry everything will be fine. It takes me about an hour to get through the Mexican Customs and I’m off again…I figure the further south I go and as my clothe dry the cold will turn to heat again…not so…I ended up having to pull over on the side of the highway to put on the jacket I wasn’t planning on bringing…first lucky move – unfortunately from here is just gets worse… I’m hauling it…going as fast as I can so I can make up for lost time. Figures I would be at the hotel by 6pm making my riding day just 12 hours long but know it’s going to be 16…no big deal because, would still make it to the hotel before the sun goes down. One thing is for sure I don’t want to be riding at night in the dark. Sometimes, no matter how much we want something it just does not happen…I’m desperately trying to make up for lost time but the only problem is I’m not making up any time, I’m actually falling further behind and it keeps getting colder…oh, ya…did I mention I don’t like to ware riding gloves…oh, ya…did I mention the three cell phones I have with me do not work… I have the GPS set up on my iPhone so I would know where I was at all time but since entering Mexico it stopped working so I have no idea where I am. At about 6:30 pm I pass what I think looks like a nice hotel and I was so tempted to stop but I figure I would make it to my original hotel despite everything. I’m an eternal optimist… Now fast forward a few of hours…the sun is now gone and it’s pitch black, it’s been three hours since I passed the last hotel and since then it’s just been all desert. No signs of life as far as the eye can see. I have no idea where I am, where the next town is or if it has a hotel. Oh, ya…i was wrong about it getting hotter the further south i go. I’m freezing. I’m trying to warm my hands by putting them on the engine or the exhaust pipes. Normally this would burn my hand but it’s so cold the engine is just warm not hot. Oh…ya, I also have not seen or passed another car in about two hours. I’m starting to panic!… My mind has tuned on me. I’m going crazy…you really need to get an idea of where I’m at. It’s an isolated highway, it’s so dark I can’t see anything beyond the glare of my light and surprisingly enough it’s a hilly windy road. I’m riding and violently shivering to the point where my muscles are cramping up. It’s like I’m having convulsions on the bike…I’m freezing cold and I can’t feel my hands. I’m lost and my mind is telling me I’m going to die… I’m desperately looking for a place to stop but the highway is an old two lane road with no shoulder to stop. On the other side of the white line is dirt, big rock and sand…not a good place to try to ride a dirt bike let alone an 800 lb. Harley Davidson. I keep going until I come to a tiny narrow bridge and stop. I keep the bike running and turn the flashers on. My mind is freaking out…I’m walking up and down the highway trying to gain control of my senses so I can make rational decisions. I manage to calm myself down…I literally look south down the highway and all I see is black nothing…the unknown. Then I turn around and look north and I clearly see the hotel in my mind three hours away…I know with this cold…in the dark I won’t make it. I even think of keeping the bike running, huddling under the bike and crying myself to sleep for being such an idiot until the sun comes back up or someone stops to help me. I knew that was nuts but what else was I going to do? Huddling under the bike seemed like the best plan until images started flashing in my mind of a pack of wild animals attacking me or a poisonous snake biting me or a huge harry black spider, or a scorpion biting…all having the end result…with me being found dead huddling under a running bike. All of a sudden three cars drive by…in a flash decision…I hop on the bike and I gunned it to catch up to the cars. My mind was racing…several options are coming to me…and suddenly none of them included dying. I thought I can pass the three cars and race ahead…if something happens to me I can flag them down and they will stop to help me. I can pass one or two cars…get in the middle and if I can’t go on I can stop on the highway forcing them to stop so they can help me…or I can stay behind them because between the heat of the three cars and the heat from the bike it was actually warm enough that I might be able to last two or three hours to the next town where ever that may be. One thing was clear…I was not going to make it to the hotel I wanted to stay at….I’m now 4 hours behind schedule. Life is strange…sometimes the plans we make and the decision we have a lot of time to think about end up being the wrong ones and sometimes the decisions we make in a split second work out for us.
I caught up to the cars and because I was determined to make it to the hotel I was planning on staying at I decided to stay behind the three cars…my mind had settled down and it wasn’t as cold any more…I was still cold but it was manageable. After a few kilometres we came up to a military check point. I was stopped as were all the other cars and when I had a chance, I asked where the next town was. They told me it was about 3 KM away and they had three hotels. When I got to the hotel I checked in unpacked everything and locked the bike with the lock I bought in Yuma, AZ…As it turns out I did need it after all. I was told at the US / Mexico border you cannot buy temporary insurance for motorbikes in Mexico so I was without insurance. I say life is strange because what would have happened to me if I had decided to head back three hours to where I knew for sure there was a hotel. The safe bet… What would you have done? How do you react under distress or fear? We all say how cool we would react under a life or death situation…but we will never really know until we’re there ourselves. I didn’t know how I would react until I found myself on this highway. I can honestly tell you that I was reacting the way I was because of the conversation I was having with myself in my mind and I can tell it was all about how afraid of the unknown I was at that moment, how I was going to fail, how I was not going to make it, how I was going to die, how I was going to crash and never be found, how I was going to freeze to death. My mind was freaking out, I was freaking out and the nearest hotel was just a few kilometres way….I’m sitting here kind of laughing because everything was caused by me and what I was focusing on at that exact moment in time…I was freaking out because my plan was not working out as I had planned and I was in the middle of no where all alone…Thinking back…I really wasn’t in any danger. Everything was created in my mind by me. Ok, I figure out where I am and I find out that the hotel where I wanted to stay was only 1 1/2 hours away so if I stuck with the three cars I would have made it after all. The next morning I head out at 6am…and I’m flying because I’m still trying to make up for lost time but this is not possible and I end up losing more time because there is major highway repair and large sections of the highway is a dirt road. I’m riding at about 20KM per hour. There is a long section that is all sand and then I end up falling. The hot exhaust pipe is resting on top of my leg burning it. I’m screwed…Its Sunday so there is no one around to help me lift the bike off my leg….now remember this bike weighs 800 lbs. and my leg is pinned under the bike. I wasn’t going fast so it’s not like I crashed but I am pinned under and my leg is burning against the hot exhaust. The pain was unbearable!… …it’s almost been a month since this happened and my leg is not fully healed. It took me about 5 tries before I was able to lift the bike high enough so I could take my leg out. Not sure how it happened but my pants got pulled up so the hot pipe was resting on my skin which made the burns worse. When I finally got my leg out I had to sit by the bike for a few minutes to recover and regain my composure…I’m thinking how the hell am I going to lift this 800lb bike up to an upright position by myself. I used all my might and after a couple of tries was able to get the bike up right. I hopped on, started it and slammed it into first gear trying to get it going slowly but it wouldn’t move…instead it started sinking in the sand. By now I’m feeling exhausted and desperate. I really don’t remember how I got it out…All I remember is lifting from the handlebars, pushing forward and giving it a lot of gas. Once I got the bike moving I headed up to a section of highway that was being worked on so cars could not drive on it to rest. I checked the bike to make sure it was not damaged and that is was still safe to ride when I noticed a piece of my skin stuck to the exhaust pipe. After seeing that, I didn’t bother looking at my leg…I hopped on and I took off. As I’m riding I notice my handle bars moved so I stopped to make sure everything was still ok when I discover they are loose from all the road vibration. They are loose but i can still ride the bike to the next nearest repair shop which I have no idea where that is. Making it to the next town, I find a repair shop that’s open on Sunday…the poor guy does his best to tighten everything he can because he doesn’t have the tools to work on the motorbike or because he can’t afford to buy good tools. As he’s working on the bike we’re talking about life in general and then we start talking about my trip. From his perspective I did a very poor job planning for my trip because I didn’t have any tools with me, my cell phones didn’t work, I don’t have a First Aid Kit and I don’t have a change of clothes and most importantly because I was making the trip by myself…and that would not be the only person to tell me that over the next few days. Thinking back…I was as prepared as I knew how to prepare. I prepared the best I could with the knowledge I had…I’m sure for my next trip I will be better prepared because of this trip. My knowledge has grown from this trip. I’m sure on my next trip I will learn something new that will help me prepare better for the following trip. When he was done I asked him how much. He told me not to worry about it and told me he was glad to help me…I guess that’s why he can’t afford good tools…here is a mechanic working on a Sunday fixing my bike for free…I was thinking to myself here is a person that needs to learn the value of time…never the less…I told him I was very grateful for all his help. I gave him I think $500 pesos’ which is about $43.00 and I was again off and running feeling better because I had a mechanic check out my bike. I’m about to learn in a few days about the sense of security and how fragile it can be…I also will learn this sense of security is manifested by our thoughts and is not real.
Ok…by know I’m about 6 hours behind schedule and I’ve accepted the realization that I will be on the road for one more night…the city I wanted to stay at is about 700 KM away and I feel confident I will make it before night fall regardless of all the delays I’ve had until now…I’m an eternal optimist. Regardless of how optimistic I am I continue to fall further behind schedule. More road work but the most nerve wrecking is the lightning, thunder and rain storm I have to cross. I’m racing down the highway and it’s amazing…to the left of the highway I can see a torrential down pour coming my way and to the right for as far as I can see there is a strip of sunlight over the highway and aside from a few rain drops I missed the storm. Just as night fall starts to settle in, I come to a town and after speaking to a truck driver that assures me there is no highway work ahead at the very last minute I see a hotel and I decide to stop there for the night. Believe it or not…as I drove through most of the town I kept debating with myself…should I keep going or should I stop. This hotel was literally the last building in town. It’s about 9pm and I’m about 6 hours from home in Cabo San Luca. The next morning I get up, check the bike to make sure nothing is loose and everything is fine…I hit the highway and set the course control to 120KM. About an hour into my ride I come to a town where when I slow down I can hear something but I’m not sure what it is…I stop and check things over and it’s the exhaust pipe…from all the road vibration it’s come lose. I see a repair shop and stop. The repair man does his best to tighten everything. Again I ask how much and he tells me not to worry…he was happy to help me out. I give him some money to show my gratitude and appreciation and I’m off once again. As I’m driving down the highway I can’t help but think what would have happened if I didn’t stop the night before at that hotel at the last minute…where would I be?…would the exhaust have come lose? What would have happened? Would I have made it to the next city where I wanted to stay…would I have crashed and would I be here today writing this? Sometimes I think I’m in some kind of control but I’m realizing I’m not…I now remember…at one point I was talking to the bike asking to hold it self together for a few more hours until I made it home safe and sound…come to think about it I was asking the universe to keep the rain away and to keep me dry the day before…just as this day I was asking for me to get home safe… At 1pm Monday July 25th I pulled into my Driveway in Cabo San Lucas…I was happy to be home safe and to have lived through this experience. Sharing this story with you makes me realize what an incredible trip this was….Because of the nature of this story, I’m sharing with you all the things that went wrong and how I had to be flexible to overcome them or how I had to adapt to overcome my fears…how I had to be persistent and no matter what challenge I came up against, had to keep moving forward. The next day I take the bike to the Harley dealer here in Cabo. I tell them what happened and that I want them to go through the entire bike to check everything from top to bottom and front to back. They have the bike for two days. They call me to pick the bike up…I go to the dealer to pick up the bike and they charge me $38.00. I think WOW…thats cheap…gotta love Mexico! I go for an hour ride thinking everything is safe and when I get home I realize a foot peg fell of…I’m puzzled so I start checking other things and find the handlebars are still loose along with a few other minor things. I’m like what the hell…I go back to the dealer and tell them about what happened. They told me they were sorry and they would talk to the repairman. Turns out the guy started working on the bike but got pulled off to work on another bike and then had two days off. They saw the bike there and they figured it was finished. They didn’t check anything. So I basically got my bike back in the same condition it when in. Here I am riding this bike thinking everything about is once again safe because I had a certified Harley Davidson Dealer service the bike but in reality nothing was done to it. Talk about a false sense of security. Think about all the false sense of security you have in your life…all the false sense of security we all live with every day. What are you afraid of? We cross the street at busy intersection when we see a little white man because we have a false sense of security in thinking that because we see this little white man the car speeding down the street will stop…but what if he doesn’t stop??? We get into our cars and drive to work because we think when we press the brakes the car will stop…but what if it doesn’t??? We are afraid to invest in real estate because we think we are going to lose money, we think we are going to make the wrong decision, we might make a bad investment, we don’t have time… I’m sharing my story with you with the hopes you will learn however prepared you think you are you will never be prepared enough…no matter how much you know you will never know enough…SO JUST START TODAY… If I waited for everything to be perfect or studied until I learned everything I would still be in Phoenix. Remember this…Security is an illusion, fear is manageable and no matter what is going to happen good or bad it’s out of our control… I hope you enjoyed my story…
2011 Real Estate Outlook – VIDEOPosted by Dario Lorenzo in Blog on July 2, 2011 Fox Business Addresses – 2011 Real Estate Outlook, June 15, 2011
Featuring Marcus & Millichap’s Hessam Nadji
Face Your Fears!Posted by Dario Lorenzo in Blog on June 22, 2011
I’m going to be in Vancouver from July 11 to July 15, 2011 so keep that week open and make sure you come to the next seminar…
This seminar will cover ways to over come anymore obstacles that are keeping you from investing…
You can submit any obstacles you’d like to discuss or fears you’re facing (If you’re determined to overcome them, this is a great place to start!).
Every self help guru tells you to get a mentor…well…here I am. Tell me what’s keeping you from investing in Real Estate today and I will do what I can to help you over come that obstacle.
I look forward to hearing from you….email me at dario@dariolorenzo.com Here are a few articles for you to read…I hope you enjoy them as much as I do:
Commercial Real Estate Demand Grows as Markets Stabilize Demand for commercial real estate is on the rise due to the improving economy and job creation, according to the National Association of Realtors. “The economy should be adding between 1.5 million and 2 million jobs annually both this year and in 2012, with the unemployment rate falling to 8.0 percent by the end of next year,”… Rest of story »
Appetite for investments is strong, as capital seeks a home, according to Jones Lang LaSalle’s 2011 Spring Capital Markets Overview. The new report indicates that transaction volumes are way up and have risen 43% for Q1 2011, compared to the same period a year ago… Rest of story »
John Burns says top rental markets about to Numerous recent reports claim renting is one the rise, but John Burns Real Estate Consulting believes demand in top markets is about to “explode,” with some cities seeing a 25% growth over the next three years. According to John Burns, there are about 3.4 million units of pent-up demand for rental housing… Rest of story »
Roubini Weighs the Positives and Negatives of a Global Economic Recovery While the outlook has improved for the U.S. and global economy, Nouriel Roubini, professor of economics at New York University’s Stern School of Business, said on June 7 that he continues to see plenty of reasons to be concerned going forward. That was not surprising to hear from the man often referred to as “Dr. Doom”… Rest of story »
Will Cap Rates Rise or Fall in 2011 and 2012? The Answer May Surprise You After rising 300 to 500 basis points in 2009, average transaction-based cap rates fell in 2010 through early 2011. Why have cap rates fallen so quickly when fundamentals have yet to show meaningful gains? Won’t cap rates increase if inflation and interest rates begin to rise?… Rest of story »
Foreclosures still dominant force in Phoenix Foreclosures represented about 35% of the existing-home transactions in the Phoenix area in May, down from 36% in April and 38% in March. The figures represent an improving trend since the beginning of the year when the rate was 43%, but whether the market has bottomed isn’t certain… Rest of story »
New Peoria Hospital Will Employ 250 The 40-bed Peoria Regional Medical Center will employ about 250 people when it opens in summer 2012. The hospital will be built on a 47-acre campus on North Lake Pleasant Road… Rest of story »
Home Builder Confidence Hits 9-Month Low The Washington-based National Association of Home Builders says its builder confidence fell this month to the lowest level in nine months, with ongoing concerns about weak consumer confidence, competition from foreclosure sales and now the rising costs of raw materials… Rest of story »
Arizona Adds 5,000 Jobs in May, Unemployment Rate Drops Arizona’s private sector added 5,000 jobs in May, with manufacturing, administrative support and restaurants accounting for the gains, according new state labor numbers… Rest of story »
Economic forecast: Recovery with bright spots, turmoil The “Great Recession” cost Arizona 300,000 jobs and cast a shadow long after it was declared over, but the outlook for the East Valley in 2011 is looking gradually, if tentatively, brighter… Rest of story »
As of March 31, there was just over $10 billion in non-residential commercial real estate† in bank real estate owned (REO) in the United States. For investors who have raised capital targeting distress, that pool of assets represents a potential treasure trove, particularly as banks and the FDIC accelerate disposition activity… Rest of story »
Market Research June 2011Posted by Dario Lorenzo in Blog on June 5, 2011
March Jobs Report: Jobs Gain, Unemployment Falls The job market continued to improve in March as strong business hiring took the unemployment rate to its lowest level in two years. The economy gained 216,000 jobs in the month. That’s better than the gain of 180,000 predicted by economists surveyed by CNNMoney, and also a significant improvement over the 194,000 jobs added in February… Rest of story » Extend and Pretend is Quietly Ending As Foreclosure Activity Picks Up Many investors have criticized the reluctance of lenders to foreclose on defaulted loans, calling it one of the major reasons the real estate decline has proven to be as prolonged and unpredictable as it has. But what a difference a year makes in the world of commercial real estate… Rest of story » Entering a New Cycle (Video) Recovery is taking place on the coasts, capital is back in the market, and even CMBS is coming back to life, says David Rifkind, principal and managing partner at George Smith Partners. He spoke with GlobeSt.com’s Bob Howard at the recent Real Estate 2011 conference… Rest of story » Apartment Vacancies in U.S. Fall to Three-Year Low as Rental Demand Climbs U.S. apartment vacancies dropped to the lowest in almost three years in the first quarter as the weak homebuying market fueled demand in what is usually a slow period for rentals, according to Reis Inc. The vacancy rate declined to 6.2 percent from 8 percent a year earlier… Rest of story » Phoenix adds jobs while Tucson sheds them Eighty-one of the nation’s top 100 markets — including Phoenix — added jobs in February, according to a report issued Wednesday morning by the U.S. Bureau of Labor Statistics. The Phoenix area had 1,698,800 nonfarm jobs in February 2011, up 11,900 from the same month a year ago. That’s good for No. 20 in the nation…. Rest of story » Apartment Industry Trends Towards Record Rent Growth National and local rent reports for the first quarter of 2011 are showing more good news for the multifamily real estate sector, with upticks in occupancy and continued gains in effective rents (rents net of concessions) in practically every major metro in the country…. Rest of story » Will Commercial Real Estate Provide a Good Hedge Against Inflation? It seems to be only a matter of time before higher inflation makes its way into official U.S. figures. Countries like Brazil and China are already struggling with it, and even countries with unused capacity like the United Kingdom have to deal with faster than expected price increases… Rest of story » Phoenix Rebounding as Winter-Visitor Mecca This season’s influx of snowbirds delivered the best numbers in years for the Valley’s winter-visitor industry. The snowbird season started to rebound last year, and the trend has continued as more winter visitors arrived earlier and stayed longer… Rest of story » Phoenix Named One of 11 Comeback Cities Kiplinger.com has named Phoenix as one of the nation’s 11 comeback cities for 2011. Kiplinger looked at cities whose unemployment rates have recently exceeded the national average but are showing strong signs of rebounding. The strength of the renewable energy sector helped Phoenix make the list… Rest of story » McDonald’s in Arizona will hire 1,000 workers next week The 277 McDonald’s fast-food restaurants in Arizona are looking to hire more than 1,000 employees at a companywide hiring event April 19. Restaurants in Arizona and across the country will be accepting applications and conducting interviews throughout the day in a move to hire as many as 50,000 new employees nationwide… Rest of story » Commercial real estate’s improving health exceeds forecasts The once-dismal commercial real estate market is turning around far more quickly than analysts expected, with troubled loans falling, occupancy rising and office building sales surging in the largest markets. That’s welcome news for an economic recovery that still faces headwinds such as rising oil prices… Rest of story » Buffett Says Commercial Real Estate Prices Are ‘Pretty Strong’ Warren Buffett, whose commercial- mortgage joint-venture is financing multifamily real estate deals, said the market is showing signs of strength. “Prices have been pretty strong if you start looking at particularly apartment buildings, but even shopping malls,”… Rest of story » Job Market Shows Signs of Life The labor market is showing signs of slow improvement: private sector employers added 179,000 positions in April and the number of planned job cuts fell, according to two reports released Wednesday… Rest of story » Canadian Investment Firm Spends $$33.94 Million for 332-Unit Apartment Complex A company formed by Belkorp Industries Inc. in Vancouver, B.C., Canada (Stuart Belkin, CEO) paid $33.94 million ($102,229 per unit) to acquire the 332-unit San Cierra apartments located at 2400 N. Arizona Avenue in Chandler. The seller was San Cierra AZ LLC, a company formed by The Premiere Residential LLC in San Diego, Calif… Rest of story » Phoenix job openings up 43% in past year After returning to prerecession levels, nationwide job openings continued to increase in April with 33.9 percent year-over-year growth and 6.7 percent month-over-month, according to a report Wednesday by SimplyHired.com… Rest of story »
Dario Lorenzo Affinity Investments Multi Family Investments Specialist Office: 604 688 2521 Fax: 604 688 6914 As the saying goes, “Don’t wait to invest in real estate, invest in real estate and wait.” NEWS April 19th, 2011Posted by Dario Lorenzo in Blog on April 19, 2011
Over the past decade urbanists, journalists and politicians have hotly debated where Americans were settling and what places were growing the fastest. With the final results in from the 2010 Census, we can now answer those questions, with at least some clarity. Not only does the Census tell us where people are moving, it also gives us clues as to why. It also helps explain where they might continue to go in the years ahead. This information is invaluable to companies that are considering where to expand, or contract, their operations. CLICK HERE to access full article Phoenix Rebounding as Winter-Visitor Mecca The Arizona Republic – April 12, 2011 This season’s influx of snowbirds delivered the best numbers in years for the Valley’s winter-visitor industry. The snowbird season started to rebound last year, and the trend has continued as more winter visitors arrived earlier and stayed longer, according to owners of recreational-vehicle and mobile-home parks. They attribute the uptick in part to retirees feeling more comfortable about the economy and Canadians taking advantage of the currency-exchange rate that turns their $20 into nearly 21 American dollars. CLICK HERE to access full article Will Commercial Real Estate Provide a Good Hedge Against Inflation? National Real Estate Investor – April 12, 2011 It seems to be only a matter of time before higher inflation makes its way into official U.S. figures. Countries like Brazil and China are already struggling with it, and even countries with unused capacity like the United Kingdom have to deal with faster than expected price increases. Food prices are spiking, and the price of oil had been inching upward even before unrest in the Middle East sparked fears of shortages. Moody’s Economy.com predicts that the headline Consumer Price Index, which counts food and energy prices, will rise at a relatively modest rate of approximately 2% per year in 2011 and 2012, up from 1.6% in 2010. But when Wal-Mart CEO Bill Simon warns that “inflation is going to be serious,” citing “cost increases that are coming through at a rapid rate,”1 it seems prudent to add a percentage point or so to inflation forecasts and pick investments accordingly. Standard textbooks say that commercial real estate offers a good hedge against inflation. Will this hold true given the current environment? CLICK HERE to access full article Rate of Bank Failures Slows, But Is It a Trend or a Blip? National Real Estate Investor – April 12, 2011 While the pace of U.S. bank failures has slowed considerably in recent quarters, giving troubled financial institutions more time to raise capital, a watch list compiled by New York-based Trepp LLC indicates the banking sector is far from being out of the woods. There were 26 bank failures during the first quarter of 2011, according to the Federal Deposit Insurance Corp. (FDIC), the lowest count since the second quarter of 2009. The cost to the FDIC of those 26 bank failures is estimated at $1.85 billion. The assets of the 26 failed banks total $10 billion. At the current pace, bank failures for all of 2011 would total 104, down from 157 in 2010 and 140 in 2009 — an encouraging sign. Still, many banks are fighting for their lives. CLICK HERE to access full article When Hard Times Led to a Boom The New York Times – April 12, 2011 Alexander J. Field, an economist at Santa Clara University, is the author of “A Great Leap Forward,” which argues that the terrible years of the Great Depression actually set the stage for the post-World War II boom. Mr. Field discussed his ideas at a recent book-signing party. The book will be officially released next week. Q. You make the novel claim that the Great Depression years were good — or at least important — for the American economy. How so? Mr. Field: In 1941, the U.S. economy produced almost 40 percent more output than it had in 1929, with virtually no increase in labor hours or private-sector capital input. Almost all of the increase in output per hour is attributable to technological and organizational advance. As I said in the title of my 2003 American Economic Review article, the 1930s were indeed the most technologically progressive decade of the century. The conventional wisdom is that the war somehow magically transformed the doom and gloom of the Depression into the U.S. standing like a colossus astride the world in 1948. My counterargument is that potential output expanded by leaps and bounds between 1929 and 1941, and it was this expansion in capacity that both helped us win the war and established the foundations for postwar prosperity. CLICK HERE to access full article
Heading Back To Downtown Vancouver…Posted by Dario Lorenzo in Blog on March 30, 2011 Hello Everyone! I’m writing to you today from sunny Cabo San Lucas Mexico…this morning I went for a run and now I’m sitting on the beach enjoying the sun. I can’t think of anything more thudding than the sound of the waves crashing on the beach. After I finish this email I’m going to go for a swim and then look at some real estate…
In the next couple of days you should be getting an email notification with the time, date and location. It’s been several months since I had a seminar so I hope you will all come out so I can share with you in more detail what I’ve been up to other than hanging around the beach in Cabo. I’m also excited to hear what you’ve been up to. I know some students have been buying lots of real estate and a few have started buying Multi-Family. Don’t worry if you don’t have anything to share…your day will come as long as you stick with it. At the very least you will be inspired. You’re more than welcome to bring a guest…just make sure they register in advance so we don’t run out of seats. I’m also toying with the idea of having another weekend boot camp in May…this time, I’m thinking of adding a little twist to the weekend….because I have some students buying Multi-Family I’m thinking of spending sometime in this boot camp covering the basics on HOW TO GET STARTED IN MULTI-FAMILY… More details to follow soon. Now back to Phoenix… If you have been reading the articles I’ve been posting you will find a surprising change in the head lines and the writers view…it’s as if over night they did a 180 degree turn on the economic outlook for the US. Everything is positive and rosy once again. It’s forecasted that the real estate market in Phoenix will be back to Pre 2007 by 2015 which only leaves a couple or three years of buying opportunities however… good quality properties are in very high demand and are selling fast. If a good opportunity comes up and you don’t jump on it, it will be gone right before your eyes. As the saying goes, “Don’t wait to invest in real estate, invest in real estate and wait.” If you haven’t watched the CBRE Economic outlook blog post I strongly recommend you do right away…. I look forward to helping you find the kind of property you are looking for, whether it’s a home, condo or investment property. I’m here to help you succeed! Canadian Investment Firm enters Valley Market…Drops $14.6 Million for Retail Plaza A company formed by MDC Property Services Ltd. In Calgary, Alberta, Canada (Jeffrey Kohn, pres.) paid $14.6 million($111.69 per foot) to buy a 130,717-square-foot retail center located at the northwest corner of Power and McDowell roads in Mesa. The seller was Bryan/Moore Development LLC in Scottsdale… Rest of story » Economic Growth Gathers Momentum U.S. economic growth seems to be gathering steam, according to real estate research firm Reis. The consensus is that gross domestic product (GDP) will grow 3.2% to 3.6% in 2011. State and local government cutbacks are expected to remain a drag on growth, however, and the fate of the single-family home market remains uncertain… Rest of story » This Could Be a Good Year for Commercial Real Estate Several billion-dollar deals made this week have put commercial real estate investors in an optimistic frame of mind: Perhaps real estate investments can do far better than expected in 2011. Improving economic conditions and a limited supply, analysts say, appear to have lifted the industry past the worst of its downtrend during the Great Recession… Rest of story » Where Should Investors Place Their Real Estate Bets in 2011? Last year marked a turnaround for U.S. commercial real estate. Vacancy rates bottomed for all property sectors. Corporate tenants took advantage of lower rents to consolidate their space, and leasing activity surged over the past three quarters… Rest of story » Phoenix-area population jumps a notch to No. 11 Phoenix gained a notch to take 11th place among the nation’s metro areas, according to research from Business First of Buffalo. As of today Phoenix and its suburbs are home to 4,575,353 people, and the number is on the rise. The next milestone of 4,580,000 is expected to hit March 20… Rest of story » Three Factors that Could Trip Up the Recovery (Multifamily) Things are looking good for rental operators. Last week, the unemployment rate fell to 8.9 percent, making things even brighter. “There is more optimism than not in last week’s job repot,” says Chris Herbert, director of research for Harvard University’s Joint Center for Housing Studies. “That is a question mark going forward.”… Rest of story » Multi-Family Housing Offers Good Value For Aspiring Landlords Bargains are thinning out, but that hasn’t dampened the enthusiasm of real estate investors who target multi-family properties in the Sunbelt. In what many see as a sign of recovery in the small-scale apartment market, rents are moving higher and cash flow is improving… Rest of story » Brookings report: Phoenix No. 7 U.S. metro in job-growth While new federal data indicates that Arizona lost jobs over the past three years, metro Phoenix began adding jobs last year and is among the best job gainers in the country, according to a Brookings Mountain Monitor report released today… Rest of story » IPD Index Shows Impressive Returns on U.S. Commercial Real Estate IPD, a firm that tracks the commercial real estate performance and maintains several industry indexes, revealed that the commercial real estate funds it tracked posted a 14.2 percent return in 2010 making it the third strongest year in the 11 years that the firm has monitored the United States… Rest of story » Hiring is Up in Retail Real Estate, But Gowth Remains Tepid If you’ve been thinking about changing jobs in the retail real estate industry, it may be time to dust off that resume. During the depths of the recession, many retail real estate firms downsized, with particularly heavy tolls on project management, development and construction departments… Rest of story » The Recovery Will Be Bifurcated These are the best of times for cash-rich borrowers and lenders, but they continue to be tough times for less well-funded borrowers and lenders. Just as the investment markets are bifurcated with top-notch properties in top-tier cities commanding escalating prices and lower tier properties and cities still fighting uphill climbs… Rest of story » Fed Says Economic Recovery on Firmer Footing WASHINGTON – The Federal Reserve expressed more confidence in the U.S. economy even as Japan’s nuclear crisis raised worries around the globe. The Fed said the economic recovery is on “firmer footing” and the jobs market is “improving gradually,” in a statement released after its meeting Tuesday… Rest of story » Commercial Real Estate Industry Moving Towards Recovery, Investor Optimism Likely to Rise in 2011 With signs of a strengthening U.S. economy evident in declining initial jobless claims, rising business and consumer confidence, and growing employment figures, the PwC Real Estate Barometer, a new feature in the just-released first quarter 2011 PwC Real Estate Investor Survey, indicates that the fundamentals of the commercial real estate industry are slowly improving… Rest of story » Deal Volume to Drive U.S. Commercial Real Estate Recovery U.S. commercial property sales will climb during the next three years as increased investor confidence drives a recovery in all segments of the market, a report by PricewaterhouseCoopers LLP said. Buyers, encouraged by job growth and rising business and consumer optimism, will jump into the market before interest rates move higher and competition pushes up prices of… Rest of story » Arizona Gains 5,300 jobs; Unemployment Rate Still 9.6 Percent Once again, it appears Arizona is finally gaining jobs, the Arizona Department of Commerce said Thursday. Increases in health-care, private-education and food-service positions helped boost the number of jobs by about 5,300 in February compared with a year earlier… Rest of story » As the saying goes, “Don’t wait to invest in real estate, invest in real estate and wait.” Employment Report – A Clear Indication of RecoveryPosted by Dario Lorenzo in Blog on March 19, 2011 Strengthening Job Growth Helps Counter Energy Price Headwinds February employment growth offers the clearest indication yet that the recovery has taken hold and the accumulation of positive trends in retail spending and manufacturing will translate into significant positive momentum. Private-sector employers generated jobs for the 12th consecutive month in February and posted the fourth largest monthly increase in five years. After raising the productivity of existing work forces to peak levels, employers will increasing hiring to meet growing demand and…For the complete Research Brief, click here. From Phoenix to Los Cabos & Back…Posted by Dario Lorenzo in Blog on March 5, 2011
It definitely has been sometime since I gave you an update…things have been a little crazy over the past few months. Here’s what I’ve been up to…in November I went to Cabo San Luca, Mexico and I’ve been spending a lot of time there. I’m looking at buying a condo so I can keep working on my tan on the beach. I’ve wanted to do this for a few years now and now’s the right time in my life for me to make the move plus I can’t pass on the great opportunities. As always when I go to a new place I start doing a lot of research and I’m finding the market is close to bottoming out. Did you know that the population is expected to grow by 50% by 2020? Did you know that Mexico is almost at par with the US when it comes to standards of living? Did you know that Mexico is no longer considered a third world country? It has the tenth largest GDP and it expected to be at number 5 by 2020. There are a lot of good things happening in Mexico right now and there are some really great bargains. I’m looking at a couple small apartment buildings that I will buy and hold for a few years. These properties will be perfect condo conversion in the future because they are very close to the Beach. You can buy a new condo one block away from the beach for $200,000 with the quality of finish you would find in a million dollar condo in Vancouver which will rent between $1,000 and $1,500 per month. Oh…Ya, you can also get 70% LTV financing for Canadians. You do the math…that’s a great return plus the appreciation when the market comes back. I’m looking for investors so let me know if you want to invest. Now back to Phoenix which is where I’m at today… Now don’t think you have time because the best time to buy was last year…the competition is heating up and the prices are going up. In January 2010 I was buying apartment at $15,000 to $17,000 per unit and now they are up to $18,000 to $20,000 for the same property. As the saying goes, “Don’t wait to invest in real estate, invest in real estate and wait.” If you haven’t watched the CBRE economic outlook blog post I strongly recommend you do right away…. The weather has changed here in Phoenix, the cool nights and mornings are so refreshing while the afternoons are in the mild 70’s. If you haven’t visited me in Phoenix, Contact me at: team@dariolorenzo.com to arrange a tour. The results that come from a tour are Significant! “I had a great trip going down to Phoenix with Dario. He showed me his investment properties and introduced us to realtors, Title Company and the foreclosure auction. My partners and I bought several investment properties shortly after the trip. I have definitely learnt a lot from Dario on the trip” – Howard Yang “On my last trip down to Phoenix, Dario met with me and showed me the city; we looked at a bunch of deals, and I got to know how things worked. He continues to advise me and help with the properties I’ve bought. I felt comfortable enough to continue investing with him and look for more real estate deals in Phoenix. Since then I am now transitioning to real estate investing full time.” – Duncan Zheng These articles from Team DarioLorenzo are aimed at keeping you informed about the Phoenix Real Estate Market. I look forward to helping you find the kind of property you are looking for, whether it’s a home, condo or investment property. I’m here to help you succeed! But the way, yes, I have read all of the articles …this is what it takes to be informed of what is going on in a market so when you invest your hard earned money you can do it with confidence. To your Success, Dario Lorenzo
As the saying goes, “Don’t wait to invest in real estate, invest in real estate and wait.” Warren Buffett sees housing recovery to start within a year - Warren Buffett anticipates a recovery in the housing market to begin within one year and the investment guru said in his biennial letter to investors that mortgages written by his subsidiaries performed better than most of the competition through the financial crisis… Rest of story » Real Test for Distress in 2011 - The volume of distressed properties appears to have plateaued for this cycle at $186.9 billion, which is holding near the peak of $191.5 billion in October 2010, according to a new report by Delta Associates that uses numbers provided by Real Capital Analytics. Delta has been noticing this trend for several months… Rest of story » Tax cuts raise expectations for economy in 2011 – Expectations for economic growth next year are turning more optimistic now that Americans will have a little more cash in their pockets. A cut in workers’ Social Security taxes and rising consumer spending have led economists to predict a strong start for 2011… Rest of story » Office Property Sales Rise Amid Encouraging Economic News – Office properties, which have languished over the course of the economic slowdown amid dismal unemployment figures, are showing some buoyancy. Office property sales jumped 122% in the year-to-date through the third quarter over the same period last year, according to a new report by the Mortgage Bankers Association (MBA)… Rest of story » 2010 was the year the holiday shoppers stormed back – Shoppers came back in force for the holidays, right to the end. After two dreary years, Christmas 2010 will go down as the holiday Americans rediscovered how much they like to shop. People spent more than expected on family and friends and splurged on themselves, too, an ingredient missing for two years… Rest of story » Commercial real estate could rebound in 2011 – Cassidy Turley/BRE Commercial in Phoenix has released its 2011 Forecast Report for metro Phoenix, and the tone is modestly upbeat. The key to the future is affordability, as values reset in the new economy and Phoenix once again becomes increasingly attractive. Here’s a look at some interesting details… Rest of story » November Phoenix home sales buck seasonal norm – Phoenix-area home sales in November increased 2% from the previous month, a time when sales are usually on the decline, according to real estate data provider MDA DataQuick… Rest of story » Real estate: New tenants starting to fill empty stores – TUCSON – As 2010 comes to a close, many of the gaping holes in shopping centers across Tucson have been filled. Burlington Coat Factory settled into a 65,000-square-foot space once occupied by Dillard’s at El Con Mall. Peter Piper Pizza opened a massive, 20,000-square-foot parlor across the street from Park Place in space vacated by bankrupt fabric retailer Linens ‘N Things… Rest of story » Retail Sales Rebound, Beating Forecasts – Americans are splurging as though it’s 2007 again. Shoppers spent more money this holiday season than even before the recession, according to preliminary retail data released on Monday. Rest of story » The Year in Commercial Real Estate Investment — and the Year Ahead – Aided by an increasingly diverse pool of active investors, rapidly improving credit conditions and stabilizing property fundamentals, commercial real estate investment trends in the nation’s largest markets developed significant momentum over the course of 2010. Rest of story » Distress Volume Hits Equilibrium – Momentum is a new word, one not used in the past seven-to-eight quarters, when discussing distressed real estate in the United States. However, locally-based Navigant Capital Advisors in a third quarter report says that values have increased for all asset classes, including distressed properties. Rest of story » Foreign Investors Returning to US Real Estate – Activity is increasing as foreign investors, including South Koreans, Germans and Canadian pension funds, are drawn to the now-depreciated properties in the United States. Rest of story » Dare We Say It? Economic Indicators Improve for Commercial Real Estate - Ross Moore has changed his outlook for the better in these last few weeks of 2010. As national chief economist for commercial real estate services company Colliers International, Moore follows about 100 economic indicators that keep his finger on the pulse of the economy and the commercial real estate industry. And since the beginning of the fourth quarter, that pulse has quickened… Rest of story » Foreign Investors Are Back - WASHINGTON, DC-Foreign investors did not follow through on their intentions to invest in US real estate in 2010. This year, though, they really mean it, the latest AFIRE survey suggests… Rest of story » Phoenix joins majority with ’09 unemployment peak - Unemployment in Phoenix has eased up in the past year, but at 8.5 percent in October remains well ahead of fall numbers for most of the 21st century. That puts the region as well other Arizona cities in better shape than the 30 percent of U.S. labor markets saddled with their worst unemployment rates… Rest of story » Key to Real-Estate Rebound: Solid Economic Growth - After dragging the U.S. economy into a severe recession, property markets across the country now are relying on an economic recovery to help cure their hangover in the new year. The housing sector, weighed down by a glut of unsold homes, needs job growth to boost demand and curb the flow of delinquent loans into foreclosure. For commercial real-estate investors… Rest of story » Phoenix-area firms still find it hard to get loans – A new year always brings reason for hope, but will 2011 finally mark an end to the drought in lending to small businesses? So far the fog shrouding credit has been slow to lift. Many small companies report a tough time gaining financing, while bankers counter that loan demand is down and many applicants are not well-qualified… Rest of story » Arizona No. 5 for relocations in 2010 – Arizona was the No. 5 state in net relocation gains made in 2010, according to the Allied Van Lines’ 43rd Annual Magnet States Report released Monday. Arizona netted 370 moves between January and November, which is calculated by taking the number of inbound moves and subtracting outbound moves… Rest of story » Dollar General to Hire 6,000 Workers in 2011 – Dollar General said Monday it plans to hire 6,000 workers this year as it looks to open 625 new stores across the country. The discount retailer said the new stores will be spread across its current 35-state operating area as well as in three states where the retailer currently doesn’t operate: Connecticut, Nevada and New Hampshire… Rest of story » Strong signs of life for the job market NEW YORK (CNNMoney) — Private sector payrolls soared 297,000 in December, payroll processor ADP announced Wednesday. The gain marks the 11th consecutive month of increases, and was much larger than economists had expected. Economists surveyed by Briefing.com were forecasting an increase of 100,000 jobs… Rest of story » Hiring rises at bars, restaurants – Last week’s employment report was disappointing, with the economy adding about 50,000 fewer jobs in December than expected, but robust hiring by bars and restaurants may be a sign of better days. The food services industry added 25,000 jobs last month and was the biggest contributor… Rest of story » Commercial Property Transactions Soar 109% in 2010 - Blockbuster transaction volume in December helped to push U.S. commercial real estate sales to $115 billion for 2010, up 109% from $54.6 billion in 2009, according to preliminary results from Real Capital Analytics. December’s volume of more than $21 billion was the highest… Rest of story » Arizona legislators make job growth a priority for state – As the Arizona Legislature begins to tackle key issues in its 50th session, lawmakers, key business groups and the public apparently agree on one priority: Legislators need to focus on helping companies create more jobs… Rest of story » 21st Century Insurance adding 50 Phoenix jobs - After hiring 70 people last fall, 21st Century Insurance and Financial Services plans to add 50 more customer-service positions in its Phoenix office. The expansion is being driven by office consolidations elsewhere around the country and by general growth in the firm’s auto-insurance business… Rest of story » Investors and Lenders Should Expect More Historically Low Interest Rates—But for How Long? - For the recovery in commercial real estate investment, and for the policy makers that have worried over the systemic implications of mass mortgage defaults, historically low interest rates have proven one of the downturn’s few blessings… Rest of story » Hope emerges for Phoenix office market - The Phoenix office market remained lackluster in the fourth quarter of 2010 but there are a few glimmers of hope. That’s the assessment of the Metro Phoenix Office Market Report published by Lee & Associates in Phoenix… Rest of story » Canadian Investor Adds to Apartment Holdings…Picks Up 160 Units in North Phoenix – A company formed by Sunstone Realty Advisors in Vancouver, British Columbia, Canada (Steve Evans, Darren Latoski, principals) paid $17.5 million ($109,375 per unit) to buy the 160-unit Azure Creek at Tatum Ranch apartments at 29862 N. Tatum Boulevard in Phoenix. The seller was a company formed by Equity Residential Trust in Chicago (NYSE:EQR)… Rest of story » Peeling Away the Layers of the Recovery – The demise of the homeownership dream is potentially the best thing to happen to multifamily last year. After all, every percentage point drop in the homeownership rate means another million households moved over to the rental pool. This is setting up the market for a very good few years… Rest of story » WinCo grocery chain plans Arizona expansion – A grocery chain planning an Arizona expansion is continuing to sign leases for massive stores across the Valley even as the company says it’s not sure when or where it will open shops. Idaho-based WinCo inked deals on sites in east Mesa and Glendale in late 2010, after at least a year of scouting in Gilbert, Phoenix and other cities… Rest of story » Commercial-real-estate market registers positive changes – The Phoenix-area commercial-real-estate market passed a significant milestone in the fourth quarter, but you won’t find evidence of it by looking at statistics. That’s because the positive changes were psychological, rather than economic, property investors and brokers said… Rest of story » Arizona No. 9 for December job growth – Thirty-six states suffered short-term job losses between November and December, but Arizona was not among them, according to a report issued Tuesday morning by the U.S. Bureau of Labor Statistics. The long-term picture was brighter, with 43 states — including Arizona — adding jobs during the 12 months between the end of 2009 and the last month of 2010… Rest of story » Economist: Arizona showing ‘signs of life’ - Arizona State University economist Dennis Hoffman sees “signs of life” in the state’s economic recovery. But he also sees the potential for continued problems if consumers do not regain more confidence in the economy… Rest of story » Phoenix No. 4 in the nation for job growth – Nearly two-thirds of the nation’s major labor markets added private-sector jobs in 2010, and Phoenix was among the biggest gainers. Sixty-two of the top 100 markets posted higher private-sector employment figures at the end of last year than in the final month of 2009… Rest of story » Home Depot now hiring 1,000 in metro Phoenix – The Home Depot is looking to hire more than 1,000 temporary employees at its 56 Arizona stores to handle the annual spring home-improvement and planting rush. The additional Arizona employees are among 60,000 seasonal workers the Atlanta-based home-improvement chain hopes to hire… Rest of story » Economy in Arizona on the Rise , Expert Says It may not seem like much of a recovery for Arizonans hobbled by job losses or falling home values, but the state’s economy actually is improving at a solid clip. So says Nathaniel Karp, chief economist for BBVA Compass and one of the few bank economists who tracks conditions here. “Arizona’s economic recovery is among the fastest in the country,”… Rest of story » Intel announces $5 billion plant In Arizona Intel Corp.’s - $5 billion investment in a new factory delivers a huge boost to the Arizona economy, ensuring that its Chandler campus will continue to create some of the world’s most sophisticated semiconductor technology. The project will bring thousands of construction and factory jobs when construction begins this summer… Rest of story » Phoenix leads nation in retail job gains – Phoenix set the pace as about half of America’s major markets added retail-sector jobs during the past year. Fifty-one of the 100 biggest markets had more retail jobs in December 2010 than in the same month a year earlier… Rest of story » PayPal opens 2nd Valley site – PayPal, an online-payment service that facilitates nearly 18 percent of all global online commerce, celebrated the grand opening Wednesday of its Price Road customer-service and operations center. PayPal, which is hiring hundreds for its Chandler operations, occupies the first two floors of Chandler Echelon just south of the Santan Freeway… Rest of story » Phoenix Apartment Market Rises from the Ashes – Though it’s been the poster child of distress the past few years, the Phoenix apartment market is starting to heat up. In the past six months, there have been some aggressive trades in and around Phoenix, as more investors bank on a strong recovery in the battered market. And market research firms are backing up that optimism… Rest of story » US investment property delivers best performance for five years – US real estate has delivered the strongest investment performance for five years, at 15.1% total return for 2010, according to the latest IPD US Quarterly Property Index. The continued recovery in market values is responsible for the dramatic turnaround from 2009′s -18.7% annual total return… Rest of story » Excess Capital Spurs Buyers Into Purchases for Fear of Missing Deals – While commercial real estate fundamentals are clearly in the early stages of a long healing process, the large amount of debt and equity that’s already being deployed in the industry following the Great Recession is raising eyebrows. Jamie Dimon, CEO of J.P. Morgan Chase, recently stated that the expected buildup of capital in the banking system over the next year “may make people do stupid things.”… Rest of story » For Distressed Investors, There is No Where To Go But Up – If conditions in commercial real estate have indeed hit bottom, then an increased amount of distressed assets could hit the market this year — and values could also begin to tick up. That is the general consensus of industry professionals that CoStar Group interviewed for their outlooks on distressed investing in 2011… Rest of story » Arizona’s retail sales are on the rise – Arizona retail sales rose in December for the second month in a row, but rising gas prices have cast uncertainty over consumer spending. Retail sales grew to just less than $5 billion in December, a 4 percent increase compared with a year earlie… Rest of story » U.S. Cities Lead Way for Global Foreign Real Estate InvestmentPosted by Dario Lorenzo in Blog on February 28, 2011
U.S. Cities Lead Way for Global Foreign Real Estate Investment Washington, DC, Jan. 3, 2011 — The U.S. real estate market offers a stronger investment opportunity for foreign real estate investors’ money than it has in the last 10 years, according to the results of the 19th Annual Survey, highlighting trends in international real estate investment, taken among members of the Association of Foreign Investors in Real Estate, (AFIRE). Survey respondents hold more than $627 billion of real estate globally, including $265 billion in the U.S. The survey was conducted in the fourth quarter of 2010 by James A. Graaskamp Center for Real Estate, Wisconsin School of Business. CLICK HERE TO READ THE REST OF THE ARTICLE Best Regards: Dario Lorenzo As the saying goes, “Don’t wait to invest in real estate, invest in real estate and wait.” |
The Census’ Fastest-Growing Cities Of The Decade By Joel Kotkin – April 15 2011
Oddly enough I have been receiving emails from people asking me if I’m going to be holding another seminar anytime soon so…after giving some thought I think I can drag myself away from here, head back to Vancouver to have a seminar sometime the week of the 18th of April, 2011.
Hello everyone!
If you have been reading the articles I’ve been posting you will find a surprising change in the head lines and the writers view…it’s as if over night they did a 180 degree turn on the economic outlook for the US. Everything is positive and rosy once again. It’s forecasted that the real estate market in Phoenix will be back to Pre 2007 by 2015 which only leaves a couple or three years of buying opportunities.