Here are the news articles you might find interesting today for commercial real estate and business:
2013 ULI Trends Day Arizona Recap – Part 3 – Economists Panel Following the Apartment Panel was the Economists. Key characters from this group were: Elliot Pollack, Elliot D Pollack Company; John Lucking, Econ-Linc; moderated by John Graham, Sunbelt Holdings. According to the economists, we are in “recovery” mode. It is just a very slow recovery. View article…
2013 ULI Trends Day Arizona Recap – Part 4 – Sports Panel Following the Economists Panel was the Sports Panel. Key characters from this group were: Michael Bidwill, Arizona Cardinals; Jerry Colangelo, JDM Partners; Steve Patterson, ASU; Jason Rowley, Phoenix Suns; moderated by Grady Gammage Jr. This was a very interesting panel and one that I have never seen before. We had the owner of the NFL Team, the former owner of the Suns & Diamondbacks and ASU all at one setting to discuss the impact these teams have on our local economy. View article…
Significant economic growth on the horizon for Arizona, U.S. It might feel like we’re experiencing an economic recovery this year, but actually, it won’t be until next fiscal year when we really begin to see signs of significant growth in the economy both locally and nationally. That was the message delivered this morning by Jim Rounds, senior vice president and senior economist with Elliot D. Pollack and Co. Rounds was the keynote for Westmarc’s 2013 Annual Meeting and Economic Forecast held at Arizona State University West. View article…
Salad and Go set on offering healthy fast food Healthy fast food may sound like a misnomer, but a new fast-salad restaurant in Gilbert hopes to change that perception. Salad and Go, a new concept from Gilbert resident Roushan Christofellis, will open Feb. 28 at 743 N. Gilbert Road. It will offer an array of salads and healthy offerings via a walk-up and drive-through setting to counter the traditional drive-through options of calorie kings like McDonald’s and Burger King. View article…
Comment time extended for Navajo power plant lease The Navajo Nation is giving the public more time to comment on legislation that would extend the lease for a coal-fired power plant. Tribal Council Speaker Johnny Naize has sponsored the measure that significantly would boost annual payments to the tribe from the owners of the Navajo Generating Station. View article…
Mobile Mini reports highest leasing revenue since 2009 Mobile Mini Inc. is reporting its best quarterly leasing figures since 2009. An improving economy and business adjustments also led the Tempe-based company to increased revenue and income for the year. For the quarter ended Dec. 31, Mobile Mini (Nasdaq:MINI) reported income of $11.3 million, or 25 cents per share, on revenue of $100 million. That compares with income of $10.1 million on revenue of $95.5 million for the same quarter in 2011. View article…
DROPPED? In 2001 the Morrison Institute for Public Policy looked at five areas of concern for Arizona. They titled their report “Five Shoes Waiting to Drop.” One of the five shoes’ looked at was Latino education. View article…
Fannie Mae Projects Slow Economic Growth Amid Fiscal Policy Concerns Even with tax hikes and spending cuts creating a significant headwind to the economy, Fannie Mae’s Economic & Strategic Research Group is maintaining its outlook for slow and steady growth in 2013. In their February 2013 Economic Outlook, economists Doug Duncan, Orawin Velz, and Brian Hughes-Cromwick admit that unresolved fiscal policy concerns (such as sequestration or the delayed debt ceiling debate) may “weigh to some degree on growth for the year.” However, positive signs in manufacturing, employment, and energy production “support a risk assessment that suggests that if our forecast is wrong it is likely too conservative on growth,” they assert. View article…
HOUSING:
Phoenix-area home values climb after 2011 dip Most metro Phoenix homeowners will see the first increase in their property’s assessed value since 2007 when they receive their annual statement from the Maricopa County Assessor’s Office. The median value of a house in metro Phoenix climbed almost 16 percent during 2012 after falling 7.6 percent in 2011. View article…
Lack of Inventory, Not Shadow Inventory, Is the Real Concern DS News took some time to chat with Daren Blomquist, VP of RealtyTrac, to get a reading on the current state of the foreclosure market and what is expected to come. Although foreclosures served to strip homes of their value during the housing crisis, Blomquist says foreclosures will be seen as a welcome sign this year and act as a stimulus. View article…
Firm Predicts Job Relocation Surge from Former Underwater Borrowers Challenger, Gray & Christmas, Inc., a nationwide outplacement firm, is predicting a relocation surge in 2013 by job-seeking homeowners who are finally able to list their properties. As home prices improve, more homeowners have been lifted out of negative equity, and thus more free to sell their properties and relocate. According to a recent report from Zillow, 1.9 million homeowners were freed from negative equity in all of 2012. View article…
Home Values Post Biggest Annual Increase Since 2006; Rent Gains Slow Home values in January posted their biggest annual increase since July 2006, beating national gains in rent, according to a recent report from Zillow. The Zillow Home Value Index rose for the 15th straight month to $158,100 in January 2013. According to Zillow, national home values have not been that high since June 2004. The improvement represents a 6.2 percent year-over-year gain and a 0.7 percent increase from December 2012. View article…