Archives for June 2014

Whether consulting on investment opportunities, working with an economic development authority on a redevelopment project, or helping fill a vacant space for a building owner, RPR Commercial assists you in determining what businesses would be appropriate for a given location by looking at consumer spending data and seeing what business types are being underserved in the area.
With RPR Commercial, a benefit available to REALTORS® as part of their core dues, REALTORS® can run a commercial analysis called “What’s the Best Retail Business for a Location?” By entering a geographic area, a “Business Opportunities Chart” generates in seconds. This chart indicates which business types are over/underrepresented in an area of interest, differentiating new business opportunities from saturated business categories in a market.
Using consumer spending data as a foundation, this marketplace data compares retail sales to demand. The retail demand information is derived from household level consumer spending data, while the retail sales information is from business point-of-sale transactions. The analysis calculates the number of residents who are leaving their home neighborhood to find a retail business type elsewhere. RPR Commercial ranks the results so it’s easy to see what businesses would likely be most successful in vacant locations or for the development of new locations.
In addition, RPR Commercial Trade Area Reports include demographics and psychographics. REALTORS® have access to stats on the population, age, income, education, economy and home values to see many area facts in one convenient place. The dominant demographic segment (a composite description of the type of resident most common in the trade area), or tapestry segment, provides details about the residents’ lifestyles: what they spend money on, what type of residence they live in, what type of job they hold and what they like to do for fun.
To learn more about RPR Commercial or to register for a LIVE webinar click here.
By: Emily Line (RPR Commercial)
 

Historical data show vast swaths of eastern New Mexico remain at a “very low risk” rating for the big three natural disasters — earthquakes, tornadoes and hurricanes — while most of the rest of the state is at medium to high risk in a new report from RealtyTrac.
Union County in the northeast and the counties of Chaves, DeBaca and Roosevelt towards the southeast part of the state get the best ratings in the Natural Hazards Housing Risk Report by the real estate sales and data provider. Nationwide, only 3 percent of total U.S. housing units were in very low risk counties.
Much of central and northern New Mexico, including the Albuquerque metro area, is rated at medium risk, while most of southern New Mexico is rated high risk. Almost half of all housing nationwide is in high-risk areas for earthquakes, tornadoes or hurricanes.
The report doesn’t cover wildfire risk, which is widely considered the main threat — natural or otherwise — to housing in New Mexico. It is based on data from the U.S. Geological Survey and National Oceanic and Atmospheric Administration.
The report did not touch on the half dozen or so tornadoes reported in eastern New Mexico earlier this month.
“The risk factors calculated in the report are based on NOAA data between 2001 and 2013 so very recent tornados would not be included,” said RealtyTrac Vice President Daren Blomquist in an email to the Journal.
“Even if it did take into account the recent tornados, that may not have swayed the risk rating dramatically because it would be in the context of a dozen years of data that includes every tornado that touched down during that time period,” he said.
The risk rating is not just based on the occurrence of the tornados but the NOAA’s Destruction Potential Index, or DPI, which accounts for number of occurrences, path of the tornado in square miles, and force of the tornado based on the Fujita Scale (F0 to F5), Blomquist said.
The report doesn’t detail which of the big three natural disaster are the biggest threats here.
Hurricanes aren’t a threat in New Mexico unless a University of Miami (Fla.) basketball team is visiting The Pit.
Tornadoes have been reported over the last 64 years in 30 of New Mexico’s 33 counties, according to the St. Johnsbury, Vt.-based Tornado Project. The southeast part of the state appears to get tornadoes more regularly than elsewhere.
Earthquakes are likely the chief risk statewide among the big three natural disasters. Most of the state’s seismic activity follows the Rio Grande Valley. The biggest earthquake in New Mexico occurred Nov. 15, 1906, in Socorro and it wasn’t very destructive, according to the USGS website.
“Four rebuilt chimneys were shaken off the Socorro County Courthouse, and two others were cracked severely,” the website says. “Plaster fell at the courthouse, and a cornice on the northwest corner of the two-story adobe Masonic Temple was thrown onto its first floor. Several bricks fell from the front gable on one house.”
By: Richard Metcalf (Albuquerque Journal)
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