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ten must reads home values

10 Must Reads for the CRE Industry Today (May 25, 2018)

The growth in home values is reaching the levels last seen before the housing crisis, reports MarketWatch. Forbes looks at creative ways to find new real estate investments. These are among today’s must reads from around the commercial real estate industry.

  1. Fed Chief Powell: We Are Still Assessing ‘Efficiency’ of Banking Reforms “Banking regulation has gotten stricter and more transparent in the days since the financial crisis, though more adjustments are likely ahead, Federal Reserve Chairman Jerome Powell said Friday. The central bank chief cited stress testing as one particular area where openness both has helped stabilize the financial system and given the public more confidence that institutions are prepared for the next crisis.” (CNBC)
  2. Home Values Are Skyrocketing at the Fastest Pace Since 2006 “Bad news for prospective home buyers: The rapid appreciation in home values shows no sign of letting up. Median home values increased 8.7% on average nationwide from April 2017 to $215,600, according to a new report from real-estate website Zillow. That represents the faster pace of acceleration since June 2006 — right before the start of the housing crisis that triggered the Great Recession — when they rose 9% annually.” (MarketWatch)
  3. The Most Creative Ways to Find Real Estate Deals for Growing Investors “When I started investing in real estate 15 years ago, I was your average broke college kid. I didn't have a ton of money to put into marketing efforts to attract sellers so I could find properties, so it was important to get creative. Learning to invest in real estate while wading through markets both full of foreclosures and light on inventory helped me experience the best of the market and the very worst. These tactics for locating deals stand out as my favorites that any new investor can utilize to find their first or latest real estate deal.” (Forbes)
  4. Why Nordstrom Is Betting on High-Touch Tech “The Nordies had waited decades for this day, and they were ­taking a few final moments to savor it. On a damp morning in April, dozens of Nordstrom employees formed a long greeting line just inside the entrance to the upscale department store chain’s new location, on West 57th Street in Manhattan. The 117-year-old, Seattle-based company is one of American retail’s most respected names, but this men’s emporium, just a block from Central Park, would be its first full-service store in the nation’s fashion capital.” (Fortune)
  5. Real Estate Investment Strategies for Low-Growth Markets in the Northeast “In only one of the 20 markets we analyzed for this review—Boston—did percent population over the past three years increase faster than the national rate. Most grew very slowly or, in a good number of cases, the population was flat or shrank. In addition, the number of jobs in these markets in the past year increased at the average rate in only four.” (Forbes)
  6. JV Kicks Off Work at Miami Mixed-Use Project “Federal Realty Investment Trust, Grass River Property and Comras Co. have commenced the redevelopment phase of CocoWalk, a retail-driven lifestyle center in Miami’s Coconut Grove submarket. The partnership revealed its plans for CocoWalk in May 2017 and recently kicked off the transformation program of the eastern side of the complex, with an expected delivery date set for late 2019. Located at 3015 Grand Ave., the reimagined complex will comprise a total of 250,000 square feet of mixed-use space upon completion.” (Commercial Property Executive)
  7. The Real Estate Industry’s Journey into LGBTQ Diversity “Recently there was a cover article in the San Francisco Business Times entitled ‘Real Estate’s Diversity Problem. (April 27 issue)’ Being an out and about member of the LGBTQ community, I was asked to be a part of the story and was proud to participate. As part of my job, I connect with the press often to discuss what’s going on in the various markets we track – commercial real estate in particular — as well as the overarching economic drivers of our region. This particular article, however, was much more personal.” (San Francisco Business Journal)
  8. More People Looking to Move Out of U.S. Tech Hub Cities “According to Redfin, in the first three months of 2018, Denver posted a "net outflow" of Redfin users for the first time, meaning that more Denver-based Redfin users were searching for homes in other metro areas than Redfin users elsewhere looking to move in. Of all Denverites using Redfin, 20 percent were searching for homes in another metro, up from 15 percent during the same time period a year earlier. Nationally, 23.9 percent of Redfin.com users looked to relocate to another metro area last quarter, up from 19.8 percent a year earlier.” (World Property Journal)
  9. Job Growth Boosts Orlando “Orlando’s multifamily market is flourishing due to exceptional employment and population growth. With a strong economic engine powered by the metro’s tourism industry, Central Florida remains one of the fastest-growing regions in the country. However, the high cost of housing is pushing low- and middle-income residents to the suburbs.” (Commercial Property Executive)
  10. With Clothing Piling Up, Gap Leans on Heavy Discounts to Clear Stores “Gap Inc. executives said they had to resort to heavy discounting to move unsold clothes that had piled up at stores, moves that weighed on profit in the first quarter and could carry over into the current period. “If you have too much inventory or the wrong inventory, holding on to it does not make it better,’ Chief Executive Art Peck said on a conference call Thursday.” (Wall Street Journal, subscription required)
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