Here is a little plug for those who instruct these CCIM courses.
Ok, you found property or space for a client, now what? Do you find you need to beef up you analysis skills to compete in the market? Do you find you are unable to properly provide information or answer client's questions? Well here is a chance to even the playing field. Enroll in CCIM's CRE CI 103 course NOW.
Course Location:
Addison Conference Center
15650 Addison Road
Addison, TX 75001
Register by Clicking Here.
Leases are the engines that drive the value of commercial real estate. Keeping this concept at the forefront, this course explores all pertinent aspects involving the valuation and costs of commercial leasehold interests from the user's perspective. Common terminology involving lease preparation will be defined, and negotiation tactics will be discussed.
Participants will also learn strategies needed to counsel clients on the critical decision of leasing versus owning, building versus buying, as well as alternative strategies to a conventional lease. Examples of lease options will be addressed through several real-world case studies.
For more information on this or other CCIM Courses, call 800-621-7027 or Click Here.
Tuesday, August 3, 2010
Saturday, July 24, 2010
Real estate in 2nd half of 2010
Here is what to expect in the 2nd half of 2010 while looking at the first half of the year in commercial and residential real estate markets.
Global markets continue an uncertain recovery faced with significant risks. On the minds of investors are such issues as continuing concern over government finances in a number of European countries, Chinese efforts to cool the pace of real estate investment domestically and concern that another global correction in the finance markets is at hand. Despite these concerns, investment capital continues to flow into Asian markets, European markets and into an improving domestic U.S. market. All these are signs of a growing strength of the recovery.
Domestic commercial real estate markets have begun to show life after a long dry spell. There is talk and signs of a return of a CMBS finance market. Only time will tell if the investment community is willing to again accept risks presented by these pooled mortgage investment vehicles. On the transaction side, particularly in the local Boston market, there are signs of life. However these well publicized initial transactions appear limited to the Class A property market in most instances. Reports are that competition has been heated for stable, fully leased investment properties. There has also been spirited competition for troubled properties that have strong upside potential. These trends are not as apparent in the Class B and Class C commercial and retail sectors.
The S&P/Case-Shiller Home Price Index shows that although most markets improved this spring, there are no solid signs of a sustained recovery. The Greater Boston market has faired better than most posting a 4.9% increase over the 12 months ending April 2010. The major concern in this market is the "hangover" impact of the homebuyer tax credit over the previous nine months. Concern is focused on the fact that accelerated activity resulting from this tax credit may have "stolen" sales from the second half of 2010. The answer to this question will likely be told in the September/October/November time period after the end of the summer doldrums.
So what does this mean? The positive signs in all three markets are clearly an indication that recovery is occurring, although at a much slower pace than hoped for. The major question for many investors (and consumers) is whether we will experience a double dip recession. Although opinions vary on this question, I don't see this occurring in the Greater Boston or New England market. There clearly is the potential in certain western and southern states for this to happen, but it will likely be a local occurrence and of limited duration.
Having survived a very difficult two-year period, there are many signs for optimism going forward. Stay tuned.
Courtesy of Avery Associates
Global markets continue an uncertain recovery faced with significant risks. On the minds of investors are such issues as continuing concern over government finances in a number of European countries, Chinese efforts to cool the pace of real estate investment domestically and concern that another global correction in the finance markets is at hand. Despite these concerns, investment capital continues to flow into Asian markets, European markets and into an improving domestic U.S. market. All these are signs of a growing strength of the recovery.
Domestic commercial real estate markets have begun to show life after a long dry spell. There is talk and signs of a return of a CMBS finance market. Only time will tell if the investment community is willing to again accept risks presented by these pooled mortgage investment vehicles. On the transaction side, particularly in the local Boston market, there are signs of life. However these well publicized initial transactions appear limited to the Class A property market in most instances. Reports are that competition has been heated for stable, fully leased investment properties. There has also been spirited competition for troubled properties that have strong upside potential. These trends are not as apparent in the Class B and Class C commercial and retail sectors.
The S&P/Case-Shiller Home Price Index shows that although most markets improved this spring, there are no solid signs of a sustained recovery. The Greater Boston market has faired better than most posting a 4.9% increase over the 12 months ending April 2010. The major concern in this market is the "hangover" impact of the homebuyer tax credit over the previous nine months. Concern is focused on the fact that accelerated activity resulting from this tax credit may have "stolen" sales from the second half of 2010. The answer to this question will likely be told in the September/October/November time period after the end of the summer doldrums.
So what does this mean? The positive signs in all three markets are clearly an indication that recovery is occurring, although at a much slower pace than hoped for. The major question for many investors (and consumers) is whether we will experience a double dip recession. Although opinions vary on this question, I don't see this occurring in the Greater Boston or New England market. There clearly is the potential in certain western and southern states for this to happen, but it will likely be a local occurrence and of limited duration.
Having survived a very difficult two-year period, there are many signs for optimism going forward. Stay tuned.
Courtesy of Avery Associates
Wednesday, January 27, 2010
CCIM Course to kick off your education in Commerical Real Estate
If you been unsuccessfully trying to get into commercial real estate or struggling at every turn, then let's be honest. There could be a lack of education happening. Here is a new year and a new opportunity to start the year off with the beginning of commercial real estate done right.
During the first week, Feb. 1-5, the CCIM course CI 101 - Financial Analysis for Commercial Investment Real Estate will be offered at the Addison Conference Center in Addison, TX. Please go to the link and don't be shy by asking about discounts, scholarships, etc!
http://www.ccim.com/courseflyer/11C1019
Get fired up about real estate for 2010! With the right education, tools and networking you can turn it around and be truly successful!
During the first week, Feb. 1-5, the CCIM course CI 101 - Financial Analysis for Commercial Investment Real Estate will be offered at the Addison Conference Center in Addison, TX. Please go to the link and don't be shy by asking about discounts, scholarships, etc!
http://www.ccim.com/courseflyer/11C1019
Get fired up about real estate for 2010! With the right education, tools and networking you can turn it around and be truly successful!
Saturday, January 16, 2010
Our very own becomes president of North Texas CCIM
PLANO REALTOR ELECTED 2010 PRESIDENT OF NORTH TEXAS CCIM CHAPTER BECOMING THE FIRST AFRICAN-AMERICAN PRESIDENT IN TEXAS
January 13, 2010 - Alex Johnson, President & CEO, KW Commercial/Laurex Realty Advisors, Plano, has been elected 2010 president of the North Texas CCIM Chapter of the CCIM Institute, the governing body of the largest commercial real estate association in the world and an affiliate of the National Association of REALTORS(R).
Johnson specializes in retail and office investments, leasing and tenant representation. He is also a CCIM Instructor certified to teach Financial Analysis and Market Analysis. Alex has leadership experience at the national, state and local level with organizations such as the CCIM Institute, KW Commercial, Texas Association of Realtors, and North Texas Commercial Association of Realtors. Alex graduated from leadership programs with Leadership Plano, Leadership Dallas, the Greater Dallas Association of Realtors Leadership program and the CCIM Leadership Academy. An active member of the community, Alex has held board positions with numerous non-profits, charities and city boards, commissions and task-forces.
Alex has been honored by the CCIM Institute as a 2008 Rising Star and the 2007 Award of Excellence. He has been honored by the Dallas Business Journal as a Top Minority Business Owner and Rotary International as a Paul Harris Fellow. The Plano Chamber of Commerce has honored him as the Ambassador of the Year and Eagle Award Winner. And he’s received his Certified Toast Master (CTM) by Toastmasters International and his Black Belt in Tae Kwon Do Martial Arts in addition to a degree in Electrical Engineering from Purdue University.
The chapter’s 2010 slate of officers also includes: Susan McClure, CCIM, President of KW Commercial/McClure Partners, Joe Garrett, CCIM, Executive Vice President Colliers International, Pamela Spadaro, CCIM, Senior Vice President, US Trust Bank of America.
The chapter is the second largest of a network of 55 created to improve benefits to CCIM members and increase their involvement in Institute affairs. The North Texas CCIM Chapter encompasses Dallas, Fort Worth, Waco, Tyler, Amarillo, Abilene, Midland, and Lubbock and includes 520 members.
The CCIM Institute, through an extensive curriculum, programs and publications, enhances the professional development of those engaged in commercial investment real estate. The Institute confers the Certified Commercial Investment Member (CCIM) designation.
KW Commercial/Laurex Realty Advisors is an African-American owned and operated firm that specializes in brokerage, leasing, tenant representation and consulting with experience that ranges from the federal government to local municipalities, major corporations such as AT&T, lending institutions like Wells Fargo and mid-size firms such as LifeChek Drug Store.
For further information, please contact Alex Johnson by phone at:
(972) 740-3200 x111 or by email at: alexjohnson@laurexrealty.com
January 13, 2010 - Alex Johnson, President & CEO, KW Commercial/Laurex Realty Advisors, Plano, has been elected 2010 president of the North Texas CCIM Chapter of the CCIM Institute, the governing body of the largest commercial real estate association in the world and an affiliate of the National Association of REALTORS(R).
Johnson specializes in retail and office investments, leasing and tenant representation. He is also a CCIM Instructor certified to teach Financial Analysis and Market Analysis. Alex has leadership experience at the national, state and local level with organizations such as the CCIM Institute, KW Commercial, Texas Association of Realtors, and North Texas Commercial Association of Realtors. Alex graduated from leadership programs with Leadership Plano, Leadership Dallas, the Greater Dallas Association of Realtors Leadership program and the CCIM Leadership Academy. An active member of the community, Alex has held board positions with numerous non-profits, charities and city boards, commissions and task-forces.
Alex has been honored by the CCIM Institute as a 2008 Rising Star and the 2007 Award of Excellence. He has been honored by the Dallas Business Journal as a Top Minority Business Owner and Rotary International as a Paul Harris Fellow. The Plano Chamber of Commerce has honored him as the Ambassador of the Year and Eagle Award Winner. And he’s received his Certified Toast Master (CTM) by Toastmasters International and his Black Belt in Tae Kwon Do Martial Arts in addition to a degree in Electrical Engineering from Purdue University.
The chapter’s 2010 slate of officers also includes: Susan McClure, CCIM, President of KW Commercial/McClure Partners, Joe Garrett, CCIM, Executive Vice President Colliers International, Pamela Spadaro, CCIM, Senior Vice President, US Trust Bank of America.
The chapter is the second largest of a network of 55 created to improve benefits to CCIM members and increase their involvement in Institute affairs. The North Texas CCIM Chapter encompasses Dallas, Fort Worth, Waco, Tyler, Amarillo, Abilene, Midland, and Lubbock and includes 520 members.
The CCIM Institute, through an extensive curriculum, programs and publications, enhances the professional development of those engaged in commercial investment real estate. The Institute confers the Certified Commercial Investment Member (CCIM) designation.
KW Commercial/Laurex Realty Advisors is an African-American owned and operated firm that specializes in brokerage, leasing, tenant representation and consulting with experience that ranges from the federal government to local municipalities, major corporations such as AT&T, lending institutions like Wells Fargo and mid-size firms such as LifeChek Drug Store.
For further information, please contact Alex Johnson by phone at:
(972) 740-3200 x111 or by email at: alexjohnson@laurexrealty.com
Tuesday, November 24, 2009
Thankful for giving and receiving
During this time of year, I stop and reflect on the year as many also do. I would like to share that this year has been filled with great adversity in my life and my family. We have come through it with only the Lord to praise. We have a new vision, new goals and new priorities. So many times we receive things that at the time seem very difficult and challenging, only to be brought through these things with a renewed spirit and a new understanding of a gift.
I came across the following proclamation which was the precedent for America's national day of Thanskgiving. Please take time to be thankful for all of your blessings, enjoy time with your family and friends, and have a wonderful Thanksgiving!
* * * * *
Washington, D.C.
October 3, 1863
Proclamation of Thanksgiving
By Abraham Lincoln, 16th President of the United States of America
The Year that is drawing to a close, has been filled with the blessings of fruitful fields and healthful skies. To these bounties, which are so constantly enjoyed that we are prone to forget the source from which they come, others have been added, which are so extraordinary a nature, that they cannot fail to penetrate and soften even the heart which is habitually insensible to the ever watchful providence of Almighty God.
In the midst of a civil war of unequaled magnitude and severity, which has sometimes seemed to foreign States to invite and to provoke the aggression, peace has been preserved with all nations, order has been maintained, the laws have been respected and obeyed, and harmony has prevailed everywhere except in the theater of military conflict; while that theater has been greatly contracted by the advancing armies and navies of the Union.
Needful diversion of wealth and strength from the fields of peaceful industry to the national defense, have not arrested the plough, the shuttle or the ship; the axe has enlarged the borders of our settlements, and the mines, as well of iron and coal as of the precious metals, have yielded even more abundantly than heretofore.
Population has steadily increased, notwithstanding the waste that has been made in the camp, the siege, and the battle-field; and the country, rejoicing in the consciousness of augmented strength and vigor, is permitted to expect continuance of years with large increase of freedom.
No human counsel hath devised nor hath any mortal hand worked out these great things. They are the gracious gifts of the Most High God, who, while dealing with us in anger for our sins, hath nevertheless remembered mercy.
It has seemed to me fit and proper that they should be solemnly, reverently and gratefully acknowledged as with one heart and one voice by the whole American People.
I do therefore invite my fellow citizens in every part of the United States, and also those who are at sea and those who are sojourning in foreign lands, to set apart and observe the last Thursday of November next, as a day of Thanksgiving and Praise to our beneficent Father who dwelleth in the Heavens.
And I recommend to them that while offering up the ascription's justly due to Him for such singular deliverance's and blessings, they do also, with humble penitence for our national perverseness and disobedience, commend to His tender care all those who have become widows, orphans, mourners or sufferers in the lamentable civil strife in which we are unavoidably engaged, and fervently implore the interposition of the Almighty hand to heal the wounds of the nation, and to restore it as soon as may be consistent with the Divine purposes to the full enjoyment of peace, harmony, tranquility, and Union.
In testimony whereof, I have hereunto set my hand and caused the seal of the United States to be affixed.
Done at the City of Washington, this Third day of October, in the year of our Lord one thousand eight hundred and sixty-three, and of the Independence of the United States the Eighty-eighth.
By the President: Abraham Lincoln
I came across the following proclamation which was the precedent for America's national day of Thanskgiving. Please take time to be thankful for all of your blessings, enjoy time with your family and friends, and have a wonderful Thanksgiving!
* * * * *
Washington, D.C.
October 3, 1863
Proclamation of Thanksgiving
By Abraham Lincoln, 16th President of the United States of America
The Year that is drawing to a close, has been filled with the blessings of fruitful fields and healthful skies. To these bounties, which are so constantly enjoyed that we are prone to forget the source from which they come, others have been added, which are so extraordinary a nature, that they cannot fail to penetrate and soften even the heart which is habitually insensible to the ever watchful providence of Almighty God.
In the midst of a civil war of unequaled magnitude and severity, which has sometimes seemed to foreign States to invite and to provoke the aggression, peace has been preserved with all nations, order has been maintained, the laws have been respected and obeyed, and harmony has prevailed everywhere except in the theater of military conflict; while that theater has been greatly contracted by the advancing armies and navies of the Union.
Needful diversion of wealth and strength from the fields of peaceful industry to the national defense, have not arrested the plough, the shuttle or the ship; the axe has enlarged the borders of our settlements, and the mines, as well of iron and coal as of the precious metals, have yielded even more abundantly than heretofore.
Population has steadily increased, notwithstanding the waste that has been made in the camp, the siege, and the battle-field; and the country, rejoicing in the consciousness of augmented strength and vigor, is permitted to expect continuance of years with large increase of freedom.
No human counsel hath devised nor hath any mortal hand worked out these great things. They are the gracious gifts of the Most High God, who, while dealing with us in anger for our sins, hath nevertheless remembered mercy.
It has seemed to me fit and proper that they should be solemnly, reverently and gratefully acknowledged as with one heart and one voice by the whole American People.
I do therefore invite my fellow citizens in every part of the United States, and also those who are at sea and those who are sojourning in foreign lands, to set apart and observe the last Thursday of November next, as a day of Thanksgiving and Praise to our beneficent Father who dwelleth in the Heavens.
And I recommend to them that while offering up the ascription's justly due to Him for such singular deliverance's and blessings, they do also, with humble penitence for our national perverseness and disobedience, commend to His tender care all those who have become widows, orphans, mourners or sufferers in the lamentable civil strife in which we are unavoidably engaged, and fervently implore the interposition of the Almighty hand to heal the wounds of the nation, and to restore it as soon as may be consistent with the Divine purposes to the full enjoyment of peace, harmony, tranquility, and Union.
In testimony whereof, I have hereunto set my hand and caused the seal of the United States to be affixed.
Done at the City of Washington, this Third day of October, in the year of our Lord one thousand eight hundred and sixty-three, and of the Independence of the United States the Eighty-eighth.
By the President: Abraham Lincoln
Wednesday, November 18, 2009
Effective Tenant Management
One of the main functions of property management agents is to ensure proper management of tenants. You have invested in property to make profits. In order to do so, your tenants need to be managed properly and the occupancy needs to be maintained at a high level.
One of the primary tasks of property management agents is to keep the tenants satisfied. When tenants are not happy they would vacate the property even before their lease runs out. This reduces rent collection and increases marketing costs. You would need to again spend on marketing to get new tenants.
Effective Tenant Management
Good management property agents understand that effective tenant management involves good rent collection practices, consistent and fair enforcement of rules and regulations, regular communication with the tenants and responsive and timely handling of repairs and maintenance.
Property management agents are required to check on past rental references, perform credit checks, and interview the prospective tenants. This is done to ensure timely collection of rents. If all the checks are positive in results, then the property manager goes on to sign the lease agreement.
The lease agreement prepared by the property manager has to be very clear about on what date and time the rents are due. This helps avoid any misunderstandings later on. The lease agreement also has to clearly specify where the rents would be due. Another thing that it should specify is what happens in the event that the rent is not paid as per the requirements. Good management property agents take care of these details to establish a good relationship with tenants.
Good property managers also understand that a good tenant might fall on bad times. So he establishes a clear understanding with the owner beforehand as to how to deal with such a situation. He or she knows how much room to give to a tenant.
Responsive Handling Of All Repair And Maintenance Work
In order to maintain good relationship with the tenants and to keep them satisfied, property managers need to ensure timely and responsive handling of all the repairs and maintenance. In order to do this job in a proper manner, management property agents should have a thorough knowledge of the property under their care. Furthermore, they need to maintain a balance between the cost of maintenance and the desired results.
Maintenance Tasks
Maintenance tasks of property managers include:
So overall, good property managers understand how important tenants are and do everything they can to maintain a good relationship with them.
Source: StorageMart
One of the primary tasks of property management agents is to keep the tenants satisfied. When tenants are not happy they would vacate the property even before their lease runs out. This reduces rent collection and increases marketing costs. You would need to again spend on marketing to get new tenants.
Effective Tenant Management
Good management property agents understand that effective tenant management involves good rent collection practices, consistent and fair enforcement of rules and regulations, regular communication with the tenants and responsive and timely handling of repairs and maintenance.
A management property agent needs to consistently perform in these areas to ensure that there are less dissatisfied tenants, high occupancy rates, low marketing costs, and high return on investment.
Rent Collection Practices
So let us see what rent collection practices are all about. A good real estate property manager understands that collecting rents does not begin on the date that they are due, but on the day that the tenant filed out his or her rental application.
Property management agents are required to check on past rental references, perform credit checks, and interview the prospective tenants. This is done to ensure timely collection of rents. If all the checks are positive in results, then the property manager goes on to sign the lease agreement.
The lease agreement prepared by the property manager has to be very clear about on what date and time the rents are due. This helps avoid any misunderstandings later on. The lease agreement also has to clearly specify where the rents would be due. Another thing that it should specify is what happens in the event that the rent is not paid as per the requirements. Good management property agents take care of these details to establish a good relationship with tenants.
Good property managers also understand that a good tenant might fall on bad times. So he establishes a clear understanding with the owner beforehand as to how to deal with such a situation. He or she knows how much room to give to a tenant.
Responsive Handling Of All Repair And Maintenance Work
In order to maintain good relationship with the tenants and to keep them satisfied, property managers need to ensure timely and responsive handling of all the repairs and maintenance. In order to do this job in a proper manner, management property agents should have a thorough knowledge of the property under their care. Furthermore, they need to maintain a balance between the cost of maintenance and the desired results.
Maintenance Tasks
Maintenance tasks of property managers include:
- Maintaining landscape
- Cleaning of common areas in the property
- Heating and air conditioning systems need to be serviced regularly
- Regular inspection of plumbing and electrical items to ensure proper functioning
- Maintenance of wood, roofing and other building components
So overall, good property managers understand how important tenants are and do everything they can to maintain a good relationship with them.
Source: StorageMart
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