Why RE/MAX Commercial
Commercial Specializations
Among the many specialties practiced by RE/MAX
Commercial professionals across the network are:
- Advisory services - Whether you
are a small business owner deciding between leasing,
buying or building, an investor contemplating an
exchange, or a major corporation in need of a
creative way to bring real estate costs under
control, a RE/MAX Commercial
professional can find solutions for you. Services
include acquisition, disposition, asset management,
valuation, financial analysis, lease audits and
occupancy cost analysis. Development services
include concept design, site location and
feasibility, permits and approvals, bidding,
construction and financing.
- Asset management – RE/MAX
Commercial specialists can develop and implement
asset management strategies for a client using an
entire suite of services, including leasing,
property management, tenant retention and marketing.
- Auctions - Often overlooked,
auctions can serve as highly effective approaches to
maximizing return on certain properties and within
certain markets. Auctions are powerful examples of a
RE/MAX Commercial team's focus on
maximizing values.
- Brokerage services - We provide
a full suite of services, including owner and tenant
leasing, acquisition and sales, marketing and
consulting, and investment analysis.
- Build-to-suit - When available
commercial space doesn't match your specific needs,
a RE/MAX Commercial professional can
skillfully guide you through all aspects of a
build-to-suit project.
- Consulting - RE/MAX Commercial
professionals help you identify and apply real
estate strategies to the operation of your business.
They work hard to understand the trends and needs of
particular industries and apply them to your real
estate transaction.
- Corporate relocation - RE/MAX
Commercial specialists can help you with all of your
relocation needs as a result of their close
connection to RE/MAX Relocation, one of the premier
corporate relocation companies in North America.
Using the RE/MAX team for commercial and residential
relocation helps to protect confidentiality
throughout your research and planning stages, and
ensures professionalism and timeliness.
- Feasibility studies – Does your
real estate project make sense? Does your property
meet your current and future needs? Through
comprehensive analysis of corporate strategies and
goals, a RE/MAX Commercial specialist
can help you to determine which property is right
for you.
- Financial and Investment analysis
– Is your portfolio performing as expected? RE/MAX
Commercial specialists can help you to evaluate your
real estate so as to maximize the value and
contribution of your assets.
- Industrial - A thorough and
timely comparative analysis of properties reveals
the best options for purchasing, selling or leasing
industrial space. These results are based on local
and regional economic conditions; transportation
access; work force capabilities, and other variables
that affect specific properties and/or businesses.
- International services - With a
network of commercial specialists worldwide and the
real estate industry's leading referral system,
RE/MAX Commercial will guide you to a real estate
professional with intimate knowledge of the local
market and the wherewithal to complete your
transactions with integrity and skill.
- Land - Whether for investment,
long-term growth needs or immediate use, a vacant
land transaction always hinges on obtaining an exact
accounting of a property's history, future use and
status in relation to current trends in local and
regional government planning. RE/MAX Commercial
specialists, through experience and market
awareness, can supply the guidance needed to ensure
timely, successful transactions.
- Lease - RE/MAX Commercial Sales
Associates have the negotiating skills to obtain the
best possible lease terms. Whether representing the
lessor or lessee, they pay strict attention to the
effect the transaction will have on your business
objectives and profitability.
- Management - RE/MAX Commercial
specialists assist you with the day-to-day operation
of your property through consulting services or by
helping you to procure the services of an outside
property management company.
- Market research - As industry
leaders in their respective markets, RE/MAX Sales
Associates provide clients with the most up-to-date
market information. Utilizing the best information
available, these professionals provide sales price
data, market lease information, demographics,
comparative tax and labor costs, competitive
analysis, vacancy and absorption rates, and other
information.
- Office - Whether you are
buying, leasing, selling or building, RE/MAX
Commercial Sales Associates help you make timely,
cost-effective decisions. Up-to-the-minute market
analysis reveals the best space and location in a
lease or purchase. In a sale, you receive maximum
return through a marketing plan grounded in a solid
understanding of all pertinent market data,
including the status of active leases and the level
of improvements and amenities in comparable
properties.
- Opinions of value - RE/MAX
Commercial specialists assist in determining the
fair market value of your property through an
"opinion of value." They inspect the property,
consider various highest and best-use scenarios and
compare the property to similar properties sold,
leased and currently on the market.
- Property valuation - RE/MAX
Commercial Sales Associates help clients identify
and capitalize on commercial real estate
opportunities.
- Retail - Stand-alone sites,
downtown storefronts, multi-use complexes, strip
centers, new or transitional malls, big-box power
centers – whether located in a single market or
across the continent – demand complete knowledge of
demographic trends, traffic patterns and growth
projections. RE/MAX Commercial specialists, as local
experts operating within an international network of
independently owned and operated offices, can
quickly compile and analyze the information you need
to achieve maximum value in any retail transaction.
- Site selection - Determining
the best location for your business requires
in-depth knowledge of local markets and the ability
to identify economic trends. RE/MAX Commercial
specialists are empowered with the information they
need to anticipate opportunities, seize competitive
advantage and execute the best possible real estate
strategies.
- Tax-deferred exchanges -
Whether selling raw land in favor of
income-producing property or disposing of older
properties with topped-out appreciation in favor of
new ones, RE/MAX Commercial specialists can help you
better understand and take advantage of the benefits
of a tax deferred exchange.
- Tenant representation - RE/MAX
Commercial specialists are dedicated to providing
clients with comprehensive tenant representation
services that meet short- and long-term goals.
Winter Olympic Games in Utah. Real Estate
After Effects
I’ve done a little research
on the historical data for the years before,
during and after the 2002 Winter Olympics that
were held here in Salt Lake. Most of the events
took place in Salt Lake and Summit Counties. I
will attach the actual statistical data from the
Wasatch Front Regional MLS for that time
period. I’ve reviewed the data and it appears
that in Summit County (Park City) there was an
oversupply of new construction that was probably
done for the Olympic Games. Summit County isn’t
very populous and the oversupply drove the
median per/unit sales down somewhat. Over the 3
year period the average price of homes went from
$514,563/home to $480,632/home. Similarly, in
Summit County (Park City), the condo prices went
from $263,444/unit to $218,320/unit. This I
believe is reflective of oversupply. It should
also be noted however, that Park City is more of
a resort type community and has a significant
number of sales that are the result of 2nd
homes or vacation homes.
Salt Lake County, however,
with a much larger population stayed pretty
consistent with a very slight increase in the
average residential home price from
$197,825/unit to $203,289/unit for single family
residential. The condo prices in Salt Lake
declined just slightly over that 3 year period
from $132,728/unit to $130,927/unit.
|
Summit
County ‐ (Park City) |
2001 |
2002
|
2003 |
|
New Listings |
1,352 |
1,809 |
1,786 |
|
Average
Price of Residential Sales |
$514,563 |
$517,567 |
$480,632 |
|
Total Dollar
Volume |
$695,689,702 |
$936,279,310 |
$858,408,873 |
|
Number
of Condo Sales |
82 |
149 |
289 |
|
Dollar
Volume of Condo Sales |
$21,602,440 |
$34,532,576 |
$63,094,606 |
|
Average Price of Condos
|
$263,444
|
$231,762 |
$218,320 |
| |
|
|
|
|
Salt Lake
County |
|
|
|
| New
Listings |
25,337
|
25,795
|
25,724 |
|
Average
Price of Residential Sales |
$197,825
|
$203,336 |
$203,289 |
|
Total Dollar
Volume Res. Sales |
$5,012,314,159 |
$5,245,055,564 |
$5,229,424,423 |
|
Number
of Condo Sales |
1,691
|
1,788
|
1,977 |
|
Dollar
Volume of Condo Sales |
$224,443,221 |
$238,446,669 |
$258,844,577 |
|
Average
Price of Condos |
$132,728
|
$133,359 |
$130,927 |
There’s one other thing I
should mention. I don’t know whether it was the
Olympic Exposure or Sundance Film Festival that
made the biggest difference, but presently
the/unit housing and condo prices are quite
high. The average condo price in Summit County
for 2009 is $472,831 and the average home price
in Summit County is $921,262. Park City has
weathered the economic downturns pretty well.
Salt Lake County in 2009 has an average condo
sale price of $178,517 and an average home sale
price of $288,981.
By Laurie
Gale
Introduction To 1031 Exchanges
A 1031 Exchange (Tax-Deferred Exchange) Is One
Of The Most Powerful Tax Deferral Strategies Remaining Available For
Taxpayers.
Read
More...
Top 12 Tips
for Buying an Investment Property
Are you ready to buy an
investment property? Here are some things to
consider.
Read More...
Top 5 Niche
Investment Properties
- Medical office
- Seniors housing
- Student housing
- Infrastructure
- Urban mixed-use
Source: Emerging
Trends 2010
Market Trends
Institutional Prices
on the Rise
Transaction prices of commercial properties sold
by large institutional investors rose by 4.4
percent in 3Q09, according to the MIT
Transaction-Based Index, bringing them to 36.5
percent below their mid-2007 peak, according to
the National Association of Real Estate
Investment Trusts. Given that and a narrowing of
the gap between buyer and seller asking prices,
REITs soon may start dipping into their amassed
capital to purchase distressed assets. By the
end of August 2009, REITs had raised an
aggregate $24.2 billion in new capital, 34
percent more than raised in all of 2008,
according to Jones Lang LaSalle.
Read More...
When you read that
foreclosure filings fell 10% in January from
December, don't get too excited. According to
Realty Trac, foreclosures are 15% higher than
they were a year ago and there's likely to be an
increase in foreclosure activity in the next few
months, as the government's crappy mortgage...Read
More
Underwater Mortgages on the Rise
More Americans
and Utahns are finding they owe more on their
mortgages than what their homes are worth,
according to a new report by First American
CoreLogic.
In Utah, 21.1 percent of all residential
mortgages are now considered in a negative
equity position compared to 24 percent of all
U.S. residential properties.
Negative equity continues to be concentrated in
five states: Nevada (70 percent); Arizona (51
percent); Florida (48 percent); Michigan (39
percent) and California (35 percent).
The rise in negative equity is closely tied to
increases in pre-foreclosure activity, the
report noted. "Once negative equity exceeds 25
percent, or the mortgage balance is $70,000
higher than the current property values, owners
begin to default with the same propensity as
investors."
In this kind of environment, it is important
that REALTORS price listings right. According to
a report commissioned by the Salt Lake Board,
home prices in Salt Lake County will continue to
fall another 3 to 5 percent this year.
Real Estate Price Forecast:
City by City
by
MoneyWatch.com | Mar 5, 2010
When will the value of
your house finally start climbing again?
Below are exclusive forecasts compiled by
financial services company
Fiserv for 383 real estate markets
across the United States. For the most part,
the numbers are looking better –
Read More
Forecast:
Change in Home Prices
| |
|
Q3:2009
to
Q3:2010
|
Q3:2010
to
Q3:2011
|
| UT |
Logan |
-5.4% |
1.9% |
| UT |
Ogden-Clearfield
|
-6.1% |
3.3% |
| UT |
Provo-Orem
|
-10.5% |
-03% |
| UT |
Salt Lake City |
-7.9% |
2.7% |
| UT |
St. George |
.0.1% |
7.4% |
| |
|
|
|
| |
|
|
|
|
