2016 Third Quarter Greater Phoenix Office Highlights Below are excerpts from CBRE Marketview, Office, Q3 2016 and Collier International’s Research & Forecast Report Greater Phoenix/Office 3Q 2016. Vacancy In quarter 3 (Q3) 2016, net absorption in Metropolitan Phoenix reached 801,250 square feet (s.f.). For the fifth consecutive quarter, Tempe led all submarkets with 621,885 s.f. …
The National Association of Realtors (NAR) recently polled student debt holders who had not defaulted on their loans. The majority of them graduated from a four-year public or private college. Below is a summary of some of the more interesting findings of the study. 43% of those polled had between $10,000 and $40,000 in student …
Vacancy Rates Trended Lower for Fifth Consecutive Year in 2015 The chart below presents statistical data in the fourth quarter of 2015 for Class A, Class B and Class C office space in Metro Phoenix related to total inventory, vacancy, vacancy rates, net absorption, and average rental rates. Note that the Class A category had …
Many economists believe this year’s surge in homebuilding is beginning to look more and more like a real recovery of the Valley’s new-home market. New Home Permits Issued in July 2015 are 55% Higher than Prior Year The Phoenix Housing Market Letter published by RL Brown and Greg Burger reports that: New home sales were …
“First-time homebuyers hurt by rising prices and tougher credit standards are disappearing from the market, slowing the pace of the three-year recovery. The decline of these buyers, many of whom are young and non-white, also threatens to widen the wealth gap between owners, who benefit from appreciation, and renters.” -Thomas Lawler, Former Fannie Mae Economist. …
“Bubbles have quite a few things in common, but housing bubbles have a spectacular thing in common, and that is every one of them is considered unique and different.” – Jeremy Grantham, co-founder of GranthamMayo van Otterloo , a Boston based asset management firm On February 14, 2014 the National Association of Home Builders …
The most common type of real estate appraisal assignment is the formulation of an opinion of market value. The following information describes each step of the appraisal process. Identification of the Assignment Parameters The appraiser will identify the client, intended users and use as well as the purpose. A crucial element to any appraisal is …
A real estate appraisal is an opinion of market value formed by a professional appraiser. The process involves specific market area research, analysis of significant information relevant to the property, specialized expertise and impartial judgment regarding the value of the property. To begin your search, ask for referrals from an accountant, attorney, real estate agent …
Vacancy Rates are on a slow decline while Rental Rates stay constant At the end of the second quarter of 2013 the metropolitan Phoenix retail vacancy rate was 10.7 percent, compared to 11.3 percent one year ago. It is important to note that in the second quarter …
In the current unpredictable and volatile real estate market, the expertise of a well-credentialed real estate appraiser who is knowledgeable about the property type and market area is particularly valuable when making sound decisions regarding real property. Arizona requires that all real estate appraisals are to be performed by state licensed or state certified appraisers. …