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mcarristo

Fall 2015: A Market for Optimism & Opportunity

September 21, 2015 by mcarristo

Marketplace Fairness and Lease Accounting Changes, community development updates from associations on the impact of REALTOR® Party grants, Q3 Commercial Market Outlook and 2015 REALTORS® Conference & Expo highlights.

A Market for Optimism: A Note from the President

There is something I have noticed throughout the year that I haven’t been able to put my finger on. In every gathering I have attended with our commercial members, the mood has been downright confident. Not to say that our residential members aren’t feeling good, but commercial real estate professionals are especially comfortable with the state of their markets.
There is hard evidence supporting your buoyant attitudes. The National Association of REALTORS® recently released the 2015 Profile of Real Estate Firms; the annual survey found that commercial firms are the most optimistic with 75 percent expecting net income to increase. That is a 4 percentage point increase over 2014. Considering recent foreign currency and economic anxieties abroad, the U.S. is much more attractive for international investment. After success at MIPIM 2015, one of the largest real estate events in the world (more on pages 14-15), NAR is planning an expanded presence in 2016 to bring your markets to a global audience.
So why else are commercial members feeling positive about the future?
One quick look at the commercial market’s key indicators tells the story. The REALTORS® Commercial Real Estate Market Survey for Q2 2015 found sales volume rose 9 percent from a year ago while sales prices increased 7 percent year over year. New job growth and low interest rates are additional factors impacting commercial real estate gains.
The numbers don’t tell the whole story. The smiles aren’t just the product of the market upswing. For those of us who have been through several cycles, we know how to navigate difficult markets. It’s what makes us professionals.
What’s different this time is that we didn’t just survive any down market; it was the worst of the worst. As commercial practitioners know better than anyone, the commercial market lags a residential recovery by up to 18 months. So while the commercial market crashed as quickly as the residential, your pain was compounded because it has taken longer to recover.
I can’t tell you how much it means to me to see our commercial members feeling so confident. I do believe that one of the reasons we made it is the camaraderie the National Association of REALTORS® offered during those dark days after the real estate crash. NAR 2011 President Ron Phipps often said it was the esprit de corps of REALTORS® that buoyed our spirits during the tough times. I agree with him. There are many quantifiable benefits of being a member of NAR, but often it is the intangible qualities—the friendships and solidarity—that are the most valuable. In belonging to something greater, we all held ourselves together.
Congratulations on your well-deserved optimism and happiness. You deserve it.
Click here to continue reading PDF.
By: National Associations of REALTORS®
Click here to view source article.

Filed Under: All News

Senators Introduce Water Reg Resolution

September 18, 2015 by mcarristo

Forty-seven senators, led by Joni Ernst (R-Iowa), yesterday filed a resolution to kill the recently established Waters of the U.S. regulation using the Congressional Review Act.
The 1996 law allows expedited procedures to be used to block new regulations. They are most significant in the Senate, where the law limits debate time and bans the use of some common procedural delay tactics, including the filibuster. That means a resolution needs only a simple majority to pass.
Nebraska Republican Rep. Adrian Smith already filed a joint resolution of disapproval for the Waters of the U.S. rule in July, which was referred to the House Transportation and Infrastructure Committee but hasn’t moved since.
It is unclear whether the Senate’s resolution is any more likely to see action. Senate Majority Leader Mitch McConnell (R-Ky.), an avowed opponent of the water rule, is among the co-sponsors.
But even if the resolution were to pass, President Obama is certain to veto it, and critics of the rule would still need to muster a two-thirds majority to override him.
NAR has been supporting all available legislative efforts to have the rule withdrawn or not implemented in 2016.  In addition, NAR is closely monitoring how the EPA and the Corps are implementing and enforcing the rule, to collect information that would assist these legislative efforts.
By: Russell Riggs & Jamie Gregory (National Association of REALTORS®)
Click here to view source article.

Filed Under: All News

Rio Rancho's Fire Rating Upgrade is Welcome News

September 16, 2015 by mcarristo

Rio Rancho got some good news last week with Rio Rancho Fire Rescue Department’s announcement the city’s fire safety rating has been upgraded.
Effective Dec. 1, the fire protection rating determined by the Insurance Services Office will be 2. The city had been classified as 3. Ratings are made on a scale of one to 10, with one being the best.
The new classification puts the department and the city into pretty exclusive company: Less than 920 communities, or 2 percent, of 48,000 that are rated by ISO in the nation have achieved a 2. Only four other New Mexico cities have that rating.
It’s very good news for home- and business owners: The new rating could translate into annual savings, as the ratings are used to set appropriate premiums for fire insurance on residential and commercial properties.

Factored into ISO ratings are a community’s fire department, emergency communications, water supply and community risk reduction such as fire prevention and education programs.
That Rio Rancho, still a relatively young city, has achieved a 2 rating, of course, is a tribute to the department and its highly professional, well-trained staff and to our city leaders who’ve consistently made public safety a top priority over the years.
By: Rio Rancho Observer
Click here to view source article.

Filed Under: All News

City Pursues Massive 82-Acre Westside Baseball/Softball Complex

September 11, 2015 by mcarristo

The city of Albuquerque’s massive baseball complex planned on 82 acres on the Westside is advancing, as the city’s Environmental Planning Commission approved site plans and zoning changes for the site. The plans still have to go through the City Council before crews can break ground on the project.

The regional complex will be home to 17 baseball fields at full build out. The complex will be located just south of Arroyo Vista Boulevard NW, which is near the I-40 and 98th Street exit. To the east of the site is the recently-built Albuquerque Public Schools stadium and athletic track. To the north of the project, Albuquerque Public Schools plans on building a K-12 educational complex.

The first phase of the massive baseball complex includes five fields and an administrative and concessions building.
The city said the regional complex is meant to hold large-scale sporting events.

“Staff agrees that this project is an important economic development initiative that will provide needed recreational opportunities for the area by hosting regional tournaments and encouraging investment in the local economy from visitors from outside the area,” a city’s planning report said.

The complex will be developed in phases. The first phase is about 20 acres that will include five adult-sized baseball fields with dugouts, bullpens, batting cages and stadium seating. An administrative and concession stand building will include office space for park and recreation staff, umpire locker rooms, public restrooms and community meeting spaces.

Eventually, the park will add an additional 12 youth-sized and softball fields, facility maintenance storage and a children’s park. Albuquerque’s Parks and Recreation Department’s recreation division will manage the baseball complex.

The complex will serve the growing Westside, which has been called Albuquerque’s next development frontier. Westside activity includes the 300-acre Mirehaven development by PulteGroup, which is underway and being built out quickly due to a high amount of interest.

There’s also 53,000 acres owned by Western Albuquerque Land Holdings (WAHL), which is known for its proposed Santolina master planned community. The Estrella development has $30 million worth of water and sewer lines in place making the area surrounding Petroglyph National Monument ripe for development.

By: Stephanie Guzman (Albuquerque Business First)

Click here to view source article.

Filed Under: All News

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