Business Specialties
Manhattan Retail Hit Hard in ’09, But Turnaround on Tap
It’s been a rough year for retail, even in tony Manhattan. The crumbling of Wall Street in the fourth-quarter of 2008 spurred the downward spiral of the market and the recession just added salt to the wound, according to a third quarter report by Marcus & Millichap Real Estate Investment Services.
Economy Watch: More Bank Failures Dead Ahead
Which bank will be lucky 100th bank to fail in 2009? Or more fittingly, the unlucky 100th? The world will have to wait until next weekend.
Economy Watch – Foreclosures Trend Upward in Usual Places
More than 925,000 U.S. homeowners received a foreclosure notice of some kind — a default notice, scheduled auction or bank repossession — during the third quarter of 2009, according to RealtyTrac, a figure that represents a 5 percent increase over the second quarter and a 23 percent increase over 3Q08. One in every 136 U.S. housing units received a foreclosure filing during the quarter, which was the highest quarterly foreclosure rate since the company began issuing its report in the first quarter of 2005 — though admittedly, that was during the run up to the bubble peak.
The Graying of America: Age and Opportunity
The graying of America may arguably be one of the single most dramatic demographic megatrends shaping our landscape. Although the U.S. population growth for individuals age 55 and over during the past nine years hasn’t been impressive—from 21.06 percent to 24.17 percent—growth for individuals age 55-64 increased by 30 percent over the same period. Given that the oldest Boomers turned 63 this year, maybe it’s time investors consider the opportunities this megatrend offers.
Economy Watch – Feds to Publish CRE Loan Modification Guidelines Soon
The heads of the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and Office of Thrift Supervision were all before the U.S. Senate Subcommittee on Financial Institutions on Wednesday sounding a warning about bad commercial real estate loans and their threat to the health of the banking system, none of which is news, but all of which is troubling.
MBA Report: Recession Over, But Impact Will Continue Next Year
According to the Mortgage Bankers Association’s forecast for 2010, the good news is that the recession is over; the bad news is that the country will continue to reel from the ramifications next year.
Distressed Debt Sales Likely to Soar
Like moths to a flame, investors these days are forming around what some believe could be the biggest distressed debt sales market since the days of the U.S. savings and loan crisis, according to a recent Ernst & Young survey.
Developing Issues
Q: We’re refurbishing an existing building. What are the most important technological considerations today? A: Whether you’re involved in a new development or upgrading an existing structure, several issues arise.
Hard-Working Web Site
Odds are your company recently launched its second- or third-generation Web site, or is in the process of gearing up to do it. As the Internet enters adulthood, the time is now to apply lessons learned, leverage new technology and continue to evolve your company’s online brand and marketing presence.
Streamlining Management & Accounting
Florida-based commercial and residential property developer and managerTobin Properties stands as a compelling example of how a centralized,integrated property management and accounting database can streamlinefinancial reporting and simplify key property management activities.