The Debt Deal Passed. What’s Next?
Congress pushed the deadline to increase the debt ceiling to its limit, but finally approved a $2.4 trillion measure that will allow the federal government to keep borrowing money to pay its bills through 2012. Click here to read full story: http://www.bityurl.com/03fd9
A number of economic and financial trends are now moving in the global economy’s direction, allowing global growth to gain some strength in the third quarter…we do see the eventual emergence of positive contributions to growth from commercial and residential real estate. Source: Wells Fargo Economics Group. Click here for full report.
What Impact Will Debt Ceiling Decision Have On Commercial Real Estate?
“The real question commercial real estate should be asking is how large the budget cuts will need to be to get Republicans to buy into raising the debt ceiling, and what impact those budget cuts will have on GDP. Commercial real estate demand is correlated with GDP,” observed Chris Macke, senior real estate strategist for CoStar Group. By Randyl Drummer at Costar.com
Declining Treasury Yields Help Boost Commercial Real Estate Loan Prices
Declining Treasury yields coupled with strong demand for performing loans on the secondary market had a positive impact on commercial real estate loan prices.
By NREI Staff
Fed Leaves Rates Alone; Stocks Inch Higher
The Federal Reserve decided today to leave rates at record low levels and agreed to continue its program of buying Treasury securities until its scheduled finish in June.
The Fed did concede that inflation is rising, but it said that longer-term expectations are stable. Most analysts read that as the Fed saying it sees no wage inflation on the horizon.
By Charley Blaine, MSN.com
Click here for full story.
BURBANK MULTI-FAMILY SECONDHAND SMOKE CONTROL ORDINANCE AMENDMENT
The most recently adopted version of this ordinance shall become effective May 1, 2011. The original Secondhand Smoke Control Ordinance had an effective date of May, 2007.
Click here to get answers to frequently asked questions and find out about an informational meeting on March 30, 2011 concerning the recently adopted ordinance which becomes effective May 1, 2011.
Commercial & Industrial Building Owners Can Reduce Energy Consumption by 95%
Stevenson Real Estate Services has developed a unique relationship with a technology company that converts an AC unit from an energy guzzler to a more efficient hybrid much like a hybrid car uses a battery for the gas engine to increase efficiency. The AC unit will consume 95% less energy during the peak of the day because the state of the art unit stores energy at night and delivers that energy during peak hours. Maintenance of an existing HVAC unit remains the building owner’s responsibility. Qualified buildings must be structurally sound, three stories or less, and have HVAC systems compatible with the energy saving technology. 85% of HVAC units are compatible. Buildings built before 1950 do not qualify, and there are 150 buildings in Glendale that are qualified. The impact on a building is a 15% reduction in its power bill. Energy costs are predicted to increase by 4% per year. For more information, please contact any of our brokers at 818-956-7001.
Commercial Real Estate Comeback
CoStar Group CEO Andrew Florance discusses commercial real estate pricing trends on CNBC’s Squawk Box…providing insight on the “Commercial Real Estate Comeback.” Exciting changes are taking place in the commercial real estate market—especially for those prepared to meet them. Click here to see video.
Film Firm Moving Jobs to Glendale
GLENDALE NEWS-PRESS. Mike Maniscalchi…said the vacancy rate for industrial sites in Glendale and Burbank is between 6% and 7%, far lower than the 17.7% commercial vacancy rate in Burbank or the 23.6% commercial vacancy rate in Glendale…Tony Maniscalchi…member of the city’s task force on the San Fernando Road corridor, said the city can do more to promote the presence of creative firms…
Please click here for full story
Commercial Real Estate Overview by Patrick Long
For the first time in two and a half years, I have a very positive outlook for our local commercial real estate market. Activity is way up since the last quarter of 2010 and pricing in the market has stabilized. Buyers and sellers can get a real understanding of where the market is heading because there are more transactions and comparables to base pricing off of. (more…)