Friday, July 27, 2012
Thursday, July 19, 2012
U.S. Federal Reserve Atlanta District Report 2012 2nd Quarter
The following is from the U.S. Federal Reserve Atlanta District Report.
Real Estate and Construction. District residential brokers indicated that home sales were flat to slightly up compared with year-ago levels. Reports indicated strong sales at the middle price points, while several brokers noted that declining inventories of foreclosed homes were limiting investor-driven sales. Brokers also reported that the decline in inventories has helped stabilize home prices in many areas. Most brokers reported that home prices were flat to slightly up compared with a year earlier. However, contacts continued to note some downward pressure on home prices resulting from low purchase offers and appraisals that were coming in well-below asking and offering prices. The sales outlook among brokers remained positive with most anticipating continued modest year-over-year home sales gains.
District homebuilders reported that new home sales and construction rose modestly compared with year-ago levels. The majority indicated that new home inventories declined further on a monthly and an annual basis. Most builders reported that new home prices were flat to slightly up compared with a year earlier. Price gains were strongest among Florida builders. Contacts noted that multi-family construction remained robust. In the near-term, homebuilders expect sales and construction to post modest gains compared with a year earlier.
Apartment sector gains drove improvements in the District’s commercial real estate markets as occupancies rose and rental rates increased. The region’s office and industrial sectors saw small improvements as vacancy rates moderated somewhat; however, reports on District retail real estate continued to be more mixed. The majority of commercial contractors said that construction activity was flat on a year-over-year basis. The majority of contacts anticipate a modest increase in private commercial construction activity through the remainder of the year, while public works projects are expected to decelerate.
Real Estate and Construction. District residential brokers indicated that home sales were flat to slightly up compared with year-ago levels. Reports indicated strong sales at the middle price points, while several brokers noted that declining inventories of foreclosed homes were limiting investor-driven sales. Brokers also reported that the decline in inventories has helped stabilize home prices in many areas. Most brokers reported that home prices were flat to slightly up compared with a year earlier. However, contacts continued to note some downward pressure on home prices resulting from low purchase offers and appraisals that were coming in well-below asking and offering prices. The sales outlook among brokers remained positive with most anticipating continued modest year-over-year home sales gains.
District homebuilders reported that new home sales and construction rose modestly compared with year-ago levels. The majority indicated that new home inventories declined further on a monthly and an annual basis. Most builders reported that new home prices were flat to slightly up compared with a year earlier. Price gains were strongest among Florida builders. Contacts noted that multi-family construction remained robust. In the near-term, homebuilders expect sales and construction to post modest gains compared with a year earlier.
Apartment sector gains drove improvements in the District’s commercial real estate markets as occupancies rose and rental rates increased. The region’s office and industrial sectors saw small improvements as vacancy rates moderated somewhat; however, reports on District retail real estate continued to be more mixed. The majority of commercial contractors said that construction activity was flat on a year-over-year basis. The majority of contacts anticipate a modest increase in private commercial construction activity through the remainder of the year, while public works projects are expected to decelerate.
Wednesday, July 18, 2012
Starland Dairy on Bull St. Sells to Thermedesignbuild
Press Release picked up from http://www.facebook.com/pages/The-Starland-Cafe/83200028433
FOR IMMEDIATE RELEASE
UNRESTORED PORTION OF THE STARLAND DAIRY ON BULL STREET SELLS TO THERMEDESIGNBUILD OF NY
New York development, design & building company coming to the Starland District.
________________________________________
Savannah, GA - The un-restored portion of the former Starland Dairy, with the iconic star building was sold to Thermedesignbuild Company today July 05, 2012.
________________________________________
The former Starland Dairy, located at 2425 Bull Street (corner of 41st Street) was sold today July 05, 2012 to thermedesignbuild. The seller, Starland Properties, owned by John Deaderick & Greg Jacobs, decided to sell to thermedesignbuild because they would be a good steward for this historic structure. Since 1999, Deaderick & Jacobs spearheaded the redevelopment of over 50 blocks of downtown Savannah thus creating a new neighborhood: The Starland District. Starland Properties, Deaderick and Jacobs (together & individually) still own multiple properties in the Starland District.
thermedesignbuild is a small development and design/build company based in Manhattan but with Savannah roots. Nathan fuller, owner of thermedesignbuild, will be relocating the company and his family to Savannah in the near future to join the unique and vibrant community that is the Starland District.
In a statement regarding the future use of his company’s latest acquisition, owner Nate Fuller, said: “to be able to be a part of the history of the starland dairy community is in itself an exciting prospect. The dairy is an iconic building and the importance of preserving the architecture and historical use of the structure goes without saying. Working alongside individuals and groups within the community we hope to play an active role in the continued rejuvenation of the neighborhood”.
Starland Properties is an organization committed to the growth of our community: The Starland District.
“Because preservation is much more than just saving houses. It's also about rescuing neighborhoods”
Press Release by:
John Deaderick (912-713-6049) john@starlanddining.com – http://www.facebook.com/StarlandProperties
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
FOR IMMEDIATE RELEASE
UNRESTORED PORTION OF THE STARLAND DAIRY ON BULL STREET SELLS TO THERMEDESIGNBUILD OF NY
New York development, design & building company coming to the Starland District.
________________________________________
Savannah, GA - The un-restored portion of the former Starland Dairy, with the iconic star building was sold to Thermedesignbuild Company today July 05, 2012.
________________________________________
The former Starland Dairy, located at 2425 Bull Street (corner of 41st Street) was sold today July 05, 2012 to thermedesignbuild. The seller, Starland Properties, owned by John Deaderick & Greg Jacobs, decided to sell to thermedesignbuild because they would be a good steward for this historic structure. Since 1999, Deaderick & Jacobs spearheaded the redevelopment of over 50 blocks of downtown Savannah thus creating a new neighborhood: The Starland District. Starland Properties, Deaderick and Jacobs (together & individually) still own multiple properties in the Starland District.
thermedesignbuild is a small development and design/build company based in Manhattan but with Savannah roots. Nathan fuller, owner of thermedesignbuild, will be relocating the company and his family to Savannah in the near future to join the unique and vibrant community that is the Starland District.
In a statement regarding the future use of his company’s latest acquisition, owner Nate Fuller, said: “to be able to be a part of the history of the starland dairy community is in itself an exciting prospect. The dairy is an iconic building and the importance of preserving the architecture and historical use of the structure goes without saying. Working alongside individuals and groups within the community we hope to play an active role in the continued rejuvenation of the neighborhood”.
Starland Properties is an organization committed to the growth of our community: The Starland District.
“Because preservation is much more than just saving houses. It's also about rescuing neighborhoods”
Press Release by:
John Deaderick (912-713-6049) john@starlanddining.com – http://www.facebook.com/StarlandProperties
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
Tuesday, July 17, 2012
SuperValu Inc. Grocery Retailer moving to Starland
The following Press Release is from http://www.facebook.com/pages/The-Starland-Cafe/83200028433
FORMER DAVID’S SUPERMARKET ON BULL STREET SELLS TO SAVE-A-LOT
New grocery store coming to the Starland District.
________________________________________
Savannah, GA - Former David’s Supermarket was sold to national discount food retailer Save-A-Lot today July 06, 2012.
_______________________________________
The former David’s Supermarket (Savannah’s first supermarket opened in 1936), located at 2400 Bull Street (between 40th & Maupas Street) was sold today July 06, 2012 to national food retailer Save-A-Lot. A source close to the deal said that both the former grocery store and the adjoining parking lots (next to Boyz to Men barber) were part of the negotiated lots purchased in today’s closing. According to the same source, Save-A-Lot, already has all city permits ready to begin the reconstruction of the building immediately. It is still undetermined which of the various grocery store models under the parent company SuperValu inc. will be the one they will be opening at this location. However, a new grocery store in this neighborhood will be a welcome addition to the continued rehabilitation of the Starland District since its inception by John Deaderick and Greg Jacobs in 1991. It is due to the vision, dedication and planned revitalizing that both Deaderick and Jacobs have given to this neighborhood for the last 15 years that these types of national stores are now investing in the neighborhood.
The Starland District is an organization committed to the growth of our community. “Because preservation is much more than just saving houses. It's also about rescuing neighborhoods”
The author of this Press Release is: John Deaderick (912-713-6049) john@starlanddining.com http://www.facebook.com/StarlandProperties
*Update on 8/2/2012*
Former David's Supermarket at 2400 Bull Street to be occupied by Save-A-Lot; renovation begins.
Read full article at Old David's Supermarket Will No Longer Be Vacant.
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
FORMER DAVID’S SUPERMARKET ON BULL STREET SELLS TO SAVE-A-LOT
New grocery store coming to the Starland District.
________________________________________
Savannah, GA - Former David’s Supermarket was sold to national discount food retailer Save-A-Lot today July 06, 2012.
_______________________________________
The former David’s Supermarket (Savannah’s first supermarket opened in 1936), located at 2400 Bull Street (between 40th & Maupas Street) was sold today July 06, 2012 to national food retailer Save-A-Lot. A source close to the deal said that both the former grocery store and the adjoining parking lots (next to Boyz to Men barber) were part of the negotiated lots purchased in today’s closing. According to the same source, Save-A-Lot, already has all city permits ready to begin the reconstruction of the building immediately. It is still undetermined which of the various grocery store models under the parent company SuperValu inc. will be the one they will be opening at this location. However, a new grocery store in this neighborhood will be a welcome addition to the continued rehabilitation of the Starland District since its inception by John Deaderick and Greg Jacobs in 1991. It is due to the vision, dedication and planned revitalizing that both Deaderick and Jacobs have given to this neighborhood for the last 15 years that these types of national stores are now investing in the neighborhood.
The Starland District is an organization committed to the growth of our community. “Because preservation is much more than just saving houses. It's also about rescuing neighborhoods”
The author of this Press Release is: John Deaderick (912-713-6049) john@starlanddining.com http://www.facebook.com/StarlandProperties
*Update on 8/2/2012*
Former David's Supermarket at 2400 Bull Street to be occupied by Save-A-Lot; renovation begins.
Read full article at Old David's Supermarket Will No Longer Be Vacant.
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
Thursday, July 12, 2012
The Perfect Storm For Commercial Real Estate Investing
From ValueWalk
July 10, 2012
By: Jacob Frydman
Summary: If one has impeccable timing, buying any investment vehicle will be profitable. If one doesn't, consider these three synchronous events for investing in real estate.
1) Buying debt on property is the cheapest it will ever be. Interest rates are artificially supressed longer than anyone expected.
2) $1.2 trillion in CMBS have been and are coming due. The financial industry has been hoping rising property values will save the day. But that isn't happening except in very specific real estate markets with specific properties. So get ready for more foreclosures to depress values.
3) The "Up Eurs" zone crisis is driving money to alternative investments. Et voilà, real estate.
The article I'm summarizing concludes with "Buy into REITs!" I showcased an article like this before, but the difference between this article and that on is that there is a light at the end of the tunnel! Buy low, add value (literally, revenue) and sell high!
Read this opinion piece in it's entirety at The Perfect Storm For Commercial Real Estate Investing
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
July 10, 2012
By: Jacob Frydman
Summary: If one has impeccable timing, buying any investment vehicle will be profitable. If one doesn't, consider these three synchronous events for investing in real estate.
1) Buying debt on property is the cheapest it will ever be. Interest rates are artificially supressed longer than anyone expected.
2) $1.2 trillion in CMBS have been and are coming due. The financial industry has been hoping rising property values will save the day. But that isn't happening except in very specific real estate markets with specific properties. So get ready for more foreclosures to depress values.
3) The "Up Eurs" zone crisis is driving money to alternative investments. Et voilà, real estate.
The article I'm summarizing concludes with "Buy into REITs!" I showcased an article like this before, but the difference between this article and that on is that there is a light at the end of the tunnel! Buy low, add value (literally, revenue) and sell high!
Read this opinion piece in it's entirety at The Perfect Storm For Commercial Real Estate Investing
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
Monday, July 9, 2012
3.8% Home Sale Tax in 175 Days
Beginning January 1st, 2013, "high-income" tax payers are penalized 3.8% on the sale of their house.
As we know, "high-income" means income in the amount of$1,000,000, $250,001, whatever is deemed to be politically feasible.
That's $3,800 on a $100,000 home, $15,200 for a $400,000 home, etc...
This bill is will certainly affect the retiring generation, -- who often downsize their homes and coincidentally often receive a lot of medical care.
"The tax could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time." [Quote from 2010 article: http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home]
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
As we know, "high-income" means income in the amount of
That's $3,800 on a $100,000 home, $15,200 for a $400,000 home, etc...
This bill is will certainly affect the retiring generation, -- who often downsize their homes and coincidentally often receive a lot of medical care.
"The tax could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time." [Quote from 2010 article: http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home]
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
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