First of all, let’s wrap our minds around the idea of off-market properties. Why, you might ask, would anyone looking to sell something want to keep that fact a secret? In some ways, “off-market” is a misnomer. While these deals may not appear on the local listing service, they are still very much on the market.
Daydreaming about that holiday again? We feel ya. Or maybe you’re just interested in what’s new in hotel development. Either way, you’re in the right window. Read on to check in on some amazing hotel developments from across the country.
Sometimes our day-to-day routine can mesmerize us and make us forget what a really incredible industry US commercial real estate is. The amount of energy and innovation expended daily is remarkable, exciting, and inspiring.
Today, let’s take a look at some new CRE development projects that represent the best of our big, brash, beautiful business.
There has been a lot of buzz around real estate technology recently, from startup pundits to the Wall Street Journal, citing mostly the astonishing rise in number of companies and the growth in venture investment to $1.6 billion in 2015 – a 350% increase over 2010.
Technology is becoming so ubiquitous that we sometimes forget how huge its effect is upon our productivity and performance. CRE has changed dramatically in the last few years, thanks to technology companies that tailor their products to our industry, and from the looks of things they’re just getting started.
While few would argue that tech tools are beneficial, they’re still just catching on with the CRE industry. A recent survey showed only 27 percent of responding professionals use sites such as RealMassive, LoopNet and CoStar to find or list commercial real estate space, and 18 percent use e-mail marketing programs.
Often the reason given for failing to make use of technology tools in CRE is a lack of time to select and learn to use relevant applications and platforms. There are a massive number of tools from which to choose, so it can be very helpful to have a general idea of what the best of them can do for you.
Particularly following the mortgage crisis of 2008, REOs have become an important segment of the real estate market and an attractive option for investors. Banks are not in business to manage property, so – in most cases – they are ready to make a deal and get foreclosed properties sold as quickly as possible.
Purchasing a bank-owned property has its own unique challenges and obstacles, but it can be well worth it to work around those. Understanding what the hurdles are is the first step in building your strategies for overcoming them. Here are some of the hurdles that you can expect to encounter in purchasing property directly from the bank.
Interest in U.S. properties from international investors has been strong since the financial crisis, and the rate of investment has been accelerating in the last couple of years. We can see evidence of this in the industry news, and we hear stories from colleagues, but the full scope of foreign investment in American CRE is best demonstrated with a collection of statistics.
Read on for a snapshot of international activity in the market, and the factors that are helping to drive it. They may surprise you –at the very least they are food for thought.
International investors are a huge potential source of business for CRE. Foreign capital already represents over 20% of the total investment in U.S. commercial properties, to the tune of more than $100 billion last year. Certain real estate marketing techniques can help attract these buyers.
These buyers are primarily institutional funds originating in Canada, China, and Australia, with significant activity from the Asian Pacific as well. China alone has about 2.7 million high-net-worth individuals (earning $1.5 million plus), and the upper-middle class in China includes about 60 million people.
These international investors tend to favor American properties due to the relative stability of our markets and the increasingly transparent deal-making process. Despite this interest there are unique challenges to marketing to these buyers.