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IN THIS ISSUE
INDUSTRY NEWS AND EVENTS
- Headline News
- Update: National Commercial Information Exchange
- CommercialSource Convention Moved to Dec. 4-6
- Commercial Real Estate Investment Expected to Remain Strong
- Commercial Real Estate Pro Offers Insights on Sales Leads
- The Commercial Market: Smooth Sailing Ahead
PUBLIC POLICY UPDATES
- House Agricultural Committee Passes Eminent Domain Bill
RESEARCH, RESOURCES
- Study: Who Are Your Future Tenants?
- Index Predicts Stable Commercial Market
- Global Capital Flow: How It Affects Your Business
- More than a Third of all NAR Members also Practice Commercial Real Estate and Property Management
- On Common Ground: Open Spaces, Green Building
LEGAL
- Advisory Issued About Colorado 1031 Qualified Intermediary Company
- Legal Scan Reveals Premises Liability Top Concern of Property Managers
AFFILIATE NEWS
- CCIM North Texas Chapter Hosts Diversity Reception July 19
INDUSTRY NEWS AND EVENTS
HEADLINE NEWS
Headline News.
UPDATE: NATIONAL COMMERCIAL INFORMATION EXCHANGE
Download the Spring 2007 RCA Report to find out where the REALTORS® Commercial Alliance is on one of its biggest initiatives: the creation of a CIE to benefit all commercial members. The RCA remains committed to the project that is expected to involve existing local CIEs. To access, visit:
http://www.realtor.org/ncommsrc.nsf/pages/archivedcommercialnewsletters
COMMERCIALSOURCE CONVENTION MOVED TO DEC. 4-6
The 2007 CommercialSource online convention that was scheduled for June 18-24 has been moved to Dec. 4-6. The December convention will be on a new technology platform that will provide a more robust experience. Free registration is ongoing. For more information, visit: http://www.commercialsource.com.
COMMERCIAL REAL ESTATE INVESTMENT EXPECTED TO REMAIN STRONG
Respectable job growth, improving fundamentals, favorable interest rates and limited speculative construction suggest strong investor appetite will continue in 2007, according to a commercial market update and forecast presented at NAR's Midyear Legislative Meetings & Trade Expo in May. On the downside, construction costs are rising due to global economic expansion, and pressures on core inflation are worrisome. For more information, visit:
http://www.realtor.org/press_room/news_releases/2007/commercial_real_estate_investment_expected.html
COMMERCIAL REAL ESTATE PRO OFFERS INSIGHTS ON TECHNOLOGY
Tune in to the latest RCA Technology & Intelligence Briefing Podcasts featuring two commercial real estate pros on the latest technology to help your commercial business. Andy Florance, president and CEO of CoStar Group, a leading commercial property listing site, presents his company's new tools for generating commercial leads via the Internet. Jay Lucas, CCIM, 1995 president of the CCIM Institute, updates listeners on the latest tools available at the CCIM Institute's Site To Do Business (www.stdbonline.com), including a database of aerial and satellite photos. Subscribe to the RCA
Technology & Intelligence Briefing Podcasts from iTunes or REALTOR.org or contact rca@realtors.org to order a free audio CD. To access, visit: http://www.realtor.org/NCommSrc.nsf/pages/TechnologyAndIntelligenceV7Oview
THE COMMERCIAL MARKET: SMOOTH SAILING AHEAD
Read the presentation given by NAR's Senior Economist at the Economic Issues & Commercial Real Estate Business Trends Forum at NAR's 2007 Midyear Meetings. View the PDF presentation at: http://www.realtor.org/Research.nsf/files/07MYMComm.pdf/$FILE/07MYMComm.pdf
PUBLIC POLICY UPDATES
HOUSE AGRICULTURAL COMMITTEE PASSES EMINENT DOMAIN BILL
The House Agriculture Committee passed on May 17 an eminent domain bill (H.R. 926) that would deny federal economic development assistance to any state or local government that uses eminent domain powers for economic development purposes and that involves transfer of property from one private owner to another. NAR policy is that states, not the federal government, should establish the rules for use of eminent domain. H.R. 926 was also referred to four other House committees.
RESEARCH, RESOURCES
STUDY: WHO ARE YOUR FUTURE TENANTS?
The commercial real estate industry should be encouraged that office-based employment will increase by 6.5 percent between 2004 and 2009 and grow nearly the same percentage in the five years after, according to the results of new research from the National Association of REALTORS® National Center for Real Estate Research. The report is expected to serve as a beacon to help guide where and what types of office space will be needed in the next decade and beyond. For more information, visit:
http://www.realtor.org/ncrer.nsf/pages/commercial?OpenDocument
INDEX PREDICTS STABLE COMMERCIAL MARKET
The Commercial Leading Indicator for Brokerage Activity, a forward-looking index for the commercial real estate market, rose slightly in the first quarter to the highest level on record, but the rate of growth has decelerated over the past year, according to NAR. The Commercial Leading Indicator for Brokerage Activity increased 0.2 percent to an index of 120.3 in the first quarter from a reading of 120.1 in the fourth quarter, and is 0.8 percent higher than the first quarter of 2006 when it stood at 119.3. "Deceleration in the growth of our leading index means we're entering a more stable
period for commercial real estate sectors," says NAR Senior Economist Lawrence Yun. For more information, visit: http://www.realtor.org/press_room/news_releases/2007/comrcl_2007q1_commercial_index_rises.html
GLOBAL CAPITAL FLOW: HOW IT AFFECTS YOUR BUSINESS
The latest release in the Hot Topics series from the REALTORS Commercial Alliance looks at how the worldwide movement of capital impacts the day-to-day concerns of the average commercial broker. Learn how real estate's growing role as a global asset has altered commercial real estate investment. For more information, visit: http://www.realtor.org/commercial/hot_topics.html
MORE THAN A THIRD OF ALL NAR MEMBERS ALSO PRACTICE COMMERCIAL REAL ESTATE AND PROPERTY MANAGEMENT
According to the 2007 National Association of Realtors® Member Profile three-fourths of all NAR members specialize in residential real estate, but 37 percent have a secondary specialty in commercial real estate or property management: 18 percent have a secondary specialty in commercial brokerage, 18 percent in land development, 11 percent commercial property management, 8 percent residential property management and 1 percent commercial appraisal. For more information, visit:
http://www.realtor.org/press_room/news_releases/2007/nar_member_survey_shows_patience.html
ON COMMON GROUND: OPEN SPACES, GREEN BUILDING
Get the latest edition of On Common Ground, NAR's twice yearly magazine devoted to smart growth issues and the ways that REALTORS® are getting involved in shaping their communities. The Summer 2007 edition features articles on open space preservation, transportation, and green building, among others. Access the magazine online at: http://www.realtor.org/smart_growth.nsf/pages/home?opendocument
LEGAL
ADVISORY ISSUED ABOUT COLORADO 1031 QUALIFIED INTERMEDIARY COMPANY
Former employees claim that the Investment Exchange Group may not have its clients' funds available to complete 1031 exchanges. IXG serves as a qualified intermediary in 1031 exchanges. Any customer of the company with a pending 1031 transaction is advised to have their attorney investigate the status of their funds being held by the company. For more information, view a summary about the advisory at http://www.realtor.org/letterlw.nsf/pages/0507ixg
LEGAL SCAN REVEALS PREMISES LIABILITY TOP CONCERN OF PROPERTY MANAGERS
NAR's 2007 Legal Scan, which tracks legal cases and damage awards in the real estate industry and surveys practitioners on the lawsuits they're concerned about, is available on REALTOR.org. For the first time this year, the Legal Scan offers a separate analysis of real estate management issues. Premises liability - particularly slip-and-fall accidents, conditions of a tenant's property, and other events on a property - topped the list of concerns in the real estate management area among survey respondents. Debt collection was also a big concern for 53 percent of respondents, despite a
relatively strong job market. For more, visit: http://www.realtor.org/letterlw.nsf/pages/scan?OpenDocument&Login
AFFILIATE NEWS
CCIM NORTH TEXAS CHAPTER HOSTS DIVERSITY RECEPTION JULY 19
Commercial real estate professionals from the Dallas Ft. Worth Metroplex and beyond are invited to a Cultural Diversity Networking Reception at the Park Cities Hilton, 5954 Luther Lane, Dallas from 5:30 p.m. to 8 p.m., Thursday, July 19 sponsored by the North Texas CCIM Chapter. Representatives will be on hand to discuss the benefits of chapter membership and provide applications to the CCIM Institute Cultural Diversity Education Program. A $25 discount will be awarded on chapter membership for those who register at the event. There is no cost to attend the reception, but all must register
at http://chapters.ccim.com/northtexas or by calling Becky Tiemann at 972-233-9107, ext. 215.
Report compiled by Bobbie Albrecht, balbrecht@realtors.org, 312/329-8464.
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