Commercial Real Estate:
In For A Whole New World Of Hurt?
After a couple of nice predictions over the last few days in the world of commercial real estate, there is always a downside.
Most reliable authorities recognize that the commercial real estate market is in a "following" position now, in relation to the home market. Steve Brown of The Dallas Morning News feels we're still in for a world of hurt to come.
"Source: Steve Brown The Dallas Morning News (MCT) — Although the commercial real estate sector has so far escaped the severe downturn that’s hit U.S. housing, industry leaders are fretting that there’s still a lot of hurt ahead in cities across the country. …"
Not a very pretty picture, is it? Are we looking at a current "false recovery"? Is there much more darkness before the dawn?
The world of commercial real estate is never simple to predict, as a market. Sometimes it's easy to get caught up in "bubbles" and "false recoveries". A good, old fashioned applying of the "emotional brakes" once in a while can sometimes help us see more clearly.
Mr. Brown certainly put the brakes on in this article.
commercial real estate.
An Appellate Judge Speaks Out
On The Benefits Of Alternative Dispute Resolution
Litigation is not cheap, and the results are never a "sure thing". Alternative methods of Dispute Resolution, such as Mediation and Arbitration, are a better way to go for many folks involved in a real estate dispute.
In this article from the "Metropolitan Corporate Counsel", retired appellate judge Edwin Stern talks about the differences between Mediation and Arbitration.
By Edwin Stern – "Mediation is a process by which a third party (sometimes called a “neutral” or “mediator”) helps parties settle their own dispute. Mediation is designed to aid the parties in reaching a mutually acceptable settlement."
If you find yourself representing clients involved in a real estate dispute, or even being a principle in need of dispute resolution, you can contact us with your situation. In many cases, Costa Land and Real Estate can provide a qualified, neutral mediator at reasonable cost, and help you reach a satisfactory Dispute Resolution.
Commercial Real Estate
In Southern California:
Could Muti-Unit Housing Be
A Recovery Driver In 2013?
In spite of how things feel at the present time, there are multiple signs of a comeback in the Southern California real estate market. Some of the strongest indications are in the area of multiple unit housing … such as apartment buildings and complexes.
With many folks now looking to rent instead of buy when it comes to their homes, developers are beginning new multi-unit dwelling projects. This could be the real fuel behind a construction surge in California over the next year.
By Jack Katzanek – "… the end might be in sight for California. An economic forecast released earlier this week suggests that 2013 will be the year the new housing market wakes up, although it will look quite a bit different from the boom that went bust a few years ago." …Press-Enterprise
In times like this any bit of good news is welcome. This could be good news for California in jobs, the general real estate market … and the commercial real estate market in Southern California as well.
A "Bubble" Seen In
Chinese Commercial Real Estate?
The Hong Kong Standard is reporting that Xinhua News Agency on the mainland in China is reporting there are fears of a commercial real estate bubble in China proper. with the fastest growth in commercial real estate in the world, apprehension is building that a correction might not be far off.
Read about it in this report by Grace Cao of the Hong Kong Standard.
By GRACE CAO – "'Beijing's office rents soared by 48 percent year-on-year in the first quarter,' DTZ said in a report, adding that it was the fastest pace of growth in the world".
We might be worlds apart from mainland China here in Southern California, but markets operate in essentially the same manner all over the world. If China is experiencing a true commercial real estate "bubble" … then we here in Southern California can provide good testimony as to what will probably come next.