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April 26th, 2007 by babygirl
If the country’s terrorism insurance program were allowed to expire, coverage would become largely unavailable and the gears of commercial real estate would grind to a halt, warns the NATIONAL ASSOCIATION OF REALTORS® and the Coalition to Insure Against Terrorism.
“The potential unavailability of terrorism risk insurance at the end of this year impacts our financing agreements and potentially hurts the commercial real estate market,” said Joseph Ditchman, former president of the Ohio Association of REALTORS® and a partner at Colliers Ostendorf-Morris, one of Cleveland’s largest commercial real estate firms.
Ditchman testified at a U.S. House Subcommittee hearing on behalf of NAR and the Coalition to Insure Against Terrorism, which represents a wide range of businesses and organizations in the transportation, real estate, manufacturing, construction, entertainment and retail sectors. Read more
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Posted in Housing, Real Estate in USA, Commersial real estate, Insurance, Insurance Rates | No Comments »
March 19th, 2007 by babygirl
Commercial real estate vacancies are rising modestly, following a record year for investment activity, according to the latest data from the NATIONAL ASSOCIATION OF REALTORS®.
“Job growth has been fueling the demand for space, notably in the office sector,” says David Lereah, NAR’s chief economist. “Even so, some tenants are not ‘back filling’ vacated space as they move to higher quality new space, contributing to a modest gain in vacancy rates.”
Office, hotel, and industrial properties continue to be the most sought after commercial sectors for investment, he says. Investors channeled a record $306.8 billion to commercial real estate in 2006, up from $276.0 billion in 2005; that total does not include the hospitality sector or transactions valued at less than $5 million.
An additional $35.3 billion was invested in the hotel sector; however, long-term historic comparisons are not available for this segment of the market. Read more
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Posted in Housing, Real Estate in USA, Commersial real estate, Real Estate Investment, Property prices | No Comments »
March 1st, 2007 by babygirl
Posted in Real Estate in USA, Credits, leasing, investment, insurance, taxes, mortgag, Commersial real estate, Insurance, Housing market, Insurance Rates | No Comments »
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