Big properties' recovery to be weak, except for multi-family sector

Commercial landlords will see falling vacancies and rising rents over the next two years, but the recovery will be mild in all but the apartment sector, according to the National Association of Realtors U.S. commercial real estate forecast.

The forecast was during NAR’s conference in Anaheim.

NAR Chief Economist Lawrence Yun based his forecast on projections that the U.S. economy will avoid recession and add 3 million to 4 million jobs in the next two years.

Read the full article at "Realtors" Big Properties' Recovery to Be Weak" written by Jeff Collins with the OC Register.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga.

You Did It! Congress Restores FHA Loan Limits

YOU DID IT! Last night Congress restored the loan limits for the Federal Housing Administration (FHA) for two years. As you know, in late September the FHA, Fannie Mae; and Freddie Mac loan limits were reduced in 42 states pricing potential home buyers out of the American Dream of home ownership and holding back the housing recovery. NAR immediately went to work with the goal to get the loan limits restored in Congress. For weeks that goal seemed unlikely. You, and countless other REALTORS® like you along with YOUR leadership and YOUR management team worked to educate Congress that well-qualified buyers didn't need yet another hurdle to access affordable mortgage financing. They finally listened. Because we were persistent. And because we were right. The reinstated FHA loan limit formula and cap change will help make mortgages more affordable and accessible for hard-working, middle-class families in 669 counties in 42 states and territories, where the average loan limit reduction after the reset last month was more than $68,000. The provision reinstates the FHA loan limits through 2013 at 125 percent of local area median home prices, up to a maximum of $729,750 in the highest cost markets, the floor will remain at $271,050. However, Congress chose not to apply the loan limits restoration to Fannie Mae and Freddie Mac. Fannie-and-Freddie-backed mortgages will remain at 115 percent of local area median home prices up to $625,500. The bill also provides for a short-term extension of the National Flood Insurance Program through December 16, 2011. NAR will continue to press Congress to use the additional time to complete their work on a five-year reauthorization of the program, which ensures access to affordable flood insurance for millions of home and business owners across the country. I know that when we work together we can accomplish anything we set our minds to in order to preserve, protect and defend the American Dream of Home Ownership. Because of your excellent work, I am continually reminded that “REALTORS® are the Heart of the Deal.” With much appreciation, Moe Veissi 2012 President NATIONAL ASSOCIATION OF REALTORS®

Savannah Stomps Atlanta in Travel + Leisure's 2011 America's Favorite Cities Survey

ATLANTA and SAVANNAH -- In Travel + Leisure magazine's 2011 America's Favorite Cities face-off between the two Georgia cities measured -- Atlanta and Savannah -- Atlanta loses.

Savannah wins in every category measured against Atlanta: people, nightlife, culture, shopping, food/drink/restaurants, quality of life and visitor experience, best times to visit and type of trip.

Of all 35 U.S. cities considered, Savannah took the No. 1 spot for romantic escape, public parks and outdoor access, and visiting in the fall.

The annual online survey appeared on TravelandLeisure.com from May 16 to Aug. 15. Respondents were asked to identify if they were visitors or residents, then to rank their choice of the 35 cities in 54 questions across the eight categories.

Favorite Cities winners are featured in the magazine's November issue.

Here are highlights from Atlanta's and Savannah's results:

Atlanta
THE BEST...
Barbecue (#12)
Luxury stores (#18)
Affordability (#24)
Sports-crazed (#25)
Winter (#25)

THE WORST...
Driving ability (#34)
Romantic escape (#34)
Safety (#34)

Savannah
THE BEST...
Romantic escape (#1)
Public parks and outdoor access (#1)
Fall (#1)
Architecture/Cool buildings (#2)
Valentine's Day (#2)

THE WORST...
Sports-crazed (#31)
Luxury stores (#27)
Summer (#24)

The article can be seen at CitiBizList in its original format.
And here are the complete results of the survey.

A. Joseph Marshall
Commercial Real Estate Advisor
Coldwell Banker Commercial
Savannah, Ga.

S.C. to launch TDL Council next week

S.C. to launch TDL Council next week

 

Summary: Three years in the making, the New Carolina’s Transportation Distribution Logistics Council was formed to promote and build South Carolina’s distribution pipeline.The TDL Council marks its official launch Nov. 22 with a meeting of stakeholders in Columbia.

 

A. Joseph Marshall

Commercial Real Estate Advisor

Savannah, Ga.

SC and GA reach harbor deepening agreement.

Sweet! In our lifetime!

http://chronicle.augusta.com/latest-news/2011-11-10/savannah-harbor-deepening-settlement-reached?v=1320934479

A. Joseph Marshall
Commercial Real Estate Advisor
Savannah, Ga.

A Deeper Harbor Not Likely to Jeopardize Species

Read the full article here!

A. Joseph Marshall
Commercial Real Estate Advisor
Savannah, Ga.

Boy have I slacked off!

When business picks up I have to cut my time expenditures somewhere! During this last bout of activity, blog posts were put on the shelf to attend to pressing matters, like "Help my office burned to the ground last night and I need a new place tomorrow." True story.

But now I have a breather so I will resume regular postings.

Perhaps as a immensely huge and subtle reminder of the need to deepen the Savannah River, the Figaro will be returning to our fair city on Dec. 6. Please take the opportunity to watch this behemoth float by. This is the future of shipping. It is here and we are unprepared.