In collaboration with the Canadian Real Estate Association, the CCIM Institute, the Institute of Real Estate Managers (IREM), and the National Association of REALTORS®, a survey was developed and deployed in the summer of 2014 to elicit responses from commercial practitioners in the US and Canada with respect to two broad areas of interest: 1) observations with respect to international investment in commercial real estate in the US and Canada, and 2) perceived changes in office space demand and utilization in the US and Canada. This publication gives a report on and analyzes on-the-ground perceptions of practitioners of these two highly important topics for the industry.
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By: National Association of REALTORS®
March 2015 CCIM Properties
Thanks to all of the brokers, sponsors and guests who attended the March 2015 CCIM Deal Making Session and to those who shared the March 2015 CCIM Properties. Over 20 million dollars of commercial real estate properties available for sale were presented from all over New Mexico.
| Rich Diller, CCIM, SIOR & Cole Flanagan, CPA & Jake Mechenbier | 6739 Academy Road | $3,500,000 |
| Larry Ilfeld, CCIM, ALC | 3323 Stanford Drive | $450,000 |
| Chuck Sheldon, CCIM, CPM & Tim Luten | 5800 Central Ave SW | $1,070,000 |
| Rich Diller, CCIM, SIOR & Cole Flanagan, CPA & Jake Mechenbier | 8400 Osuna Blvd | $5,600,000 |
| Rich Diller, CCIM, SIOR & Cole Flanagan, CPA & Jake Mechenbier | SEQ Eubank Blvd & Spain Rd | $1,550,000 |
| Reese Good-Aumell | 1419-1423 Carlisle Blvd | $575,000 |
| John Henderson III, CCIM | 2810 Karsten Ct | $2,975,000 |
| Gannon Coffman | 3840 Menaul Blvd | $725,000 |
| Todd Clarke, CCIM | 200 Rio Grande SW | $2,450,000 |
| Todd Strickland | 3880 Menaul Blvd | $1,250.000 |
| Todd Clarke, CCIM | Los Lunas Multi-Unit Portfolio | $1,644,000 |
Santa Fe Tops List of Women-Owned Businesses
Santa Fe is known worldwide as a city with an eclectic array of small and locally owned businesses, but a new study also suggests it has one of the highest concentrations of women-owned businesses.
From restaurants and retail stores to financial planning firms and construction companies, Santa Fe is listed as the top location for the percentage of women-owned businesses among almost 300 communities analyzed, according to the consumer website NerdWallet.
“The percent of female-owned businesses is over 30 percent. That’s the highest metrics of all 289 metro areas,” said Sreekar Jasthi, an analyst with the website.
Kathy L. Jahner, a vice president of the group Santa Fe Professional Business Women, is not surprised by the study. She said Northern New Mexico has always been open to outsiders and has a strong network of professionals who want to mentor and assist others.
“Women are supportive of other women, and that’s always been the case,” said Jahner, a business consultant.
The NerdWallet site, which has a bevy of information — from the best credit-card rates to comparisons on automobile insurance — lists California as a strong place for women-owned firms, but also highlights smaller cities as Santa Fe, Racine, Wis., and Monroe, Mich., where financial barriers to enter a market are not as steep.
The study did not look at how long businesses stay open or the regulatory and inspection issues involved in getting a license — two variables that might have worked against Santa Fe. In fact, Santa Fe didn’t do nearly as well in two of the subcategories — the average revenue for women-owned businesses and the median income for women. Both figures were lower for Santa Fe than for some other communities in the top 10.
And Jahner said the biggest complaint of entrepreneurs in Santa Fe is getting over regulatory hurdles with the city and state. “It has gotten somewhat better,” Jahner said. “But for a lot of people it takes so long. You think you have everything done, and then there’s something else.”
But when NerdWallet scored all eight metrics it measured, Santa Fe had the highest ranking, ahead of communities as Boulder, Colo., Napa, Calif., and San Francisco, where the cost of living is even higher than in Santa Fe.
“New Mexico’s capital city tops our list for its high percentage of businesses owned by women and its affordable cost of living. The city’s tourism industry attracts at least 1 million visitors each year who come to enjoy the city’s rich arts culture, adobe-style architecture and breathtaking views of the southern Rocky Mountains. Over 80 percent of the city’s restaurants are locally owned,” the study says.
“We’re still a small enough town that we deal with people one on one,” Jahner said. “There’s a lot of business assistance available. I get a lot of people contacting me who have just moved to Santa Fe or who want to move here to start a business.”
On the Web
To read the study visit www.nerdwallet.com/blog/small-business/best-places-women-owned-businesses/.
Percent of women-owned businesses
Santa Fe: 33.7 percent
Boulder, Colo.: 30.2 percent
Monroe, Mich.: 28.9 percent
Racine, Wis.: 26.2 percent
Ocean City N.J.: 27 percent
Napa, Calif.,: 31.1 percent
Washington, D.C.: 33.2
Town of Barnstable, Mass.: 28.3 percent
San Francisco: 31.5 percent
Higher Wages: When and Why?
Last year 3.2 million net new jobs were created, the best performance since 2000, and total employment is now several million higher than it was before the recession began. In addition, the unemployment rate which is 5.7% continues to fall and should be at or near 5% by year end, a level economists consider full employment. All of this good news, yet serious problems remain. The labor force participation rate (LFRP) is at levels last seen in 1978, which makes the unemployment rate look better than it really is and after adjusting for inflation, wages have been declining for years. What is going on?
The LFPR peaked at 67.3% in January 2000 and had had already fallen to 66% by the start of the Great Recession in January 2008, suggesting that other forces beyond the weak economy were already at work pushing it down. That said, by the end of the Great Recession in June 2009, the LFPR was down just half-of-one-percentage-point to 65.5%. Normally, it then would have started rising as the improving economy pulled unemployed workers back into the labor force from the ranks of the unemployed. Instead, the LFPR went into free fall, hitting a low of 62.8% in October 2013 where it has remained since.
The decline in the LFPR from 66% to 62.8% not only represents a loss of four and a half million workers, but also has no historic precedent. That said, much of the decline was inevitable. About half the decline is due to demographics. That is the number of Baby Boomers who are retiring is currently vastly outpacing the number of new entrants into the labor market. Exacerbating this trend is that today’s youngsters are better educated and thus spend longer in school than earlier generations, further delaying their entrance into the world of work.
Another quarter of the decline is due to the severity of the recent recession, and the remaining 25% decline is simply unexplained. These might be people who are obtaining additional education, receiving disability insurance and may or may not work again, those who have become unemployable and those who simply gave up. Whatever the cause, knowing how many people in this category return to work is critical to understanding what lies ahead.
Some have returned, some will return and some will never return. However, no matter what happens to those persons, close to 10,000 Baby Boomers retire every day. As a result, the fact that the LFRP has not fallen since October 2013 suggests these discouraged workers are returning. Were that not the case, the LFRP would have continued falling. So flat really is the new up!
Looking to the future, the greater the number of these discouraged workers who return to the labor force, the slower the decline in the unemployment rate will be, the higher the LFRP will be but perhaps most importantly, the slower wage growth will be. And that’s the kicker. By contrast, if discouraged workers stop returning to the labor force, the unemployment rate will fall faster and wages will start rising more quickly but it would also mean that millions of previously employed persons have given up on work and that is very bad.
Ideally, discouraged workers will continue returning and wages will remain flat for a while longer but will eventually start rising. Unfortunately, my guess is that relatively few discouraged workers who have not yet returned will. As a result, expect wage growth to start rising sooner, probably by year end.
By: Elliot Eisenberg (Graphsandlaughs.net)
Click here to view source website.
