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Hello Terry I am in the Loan Modification business and we have been able to help many people in a financial hardship. If you know of anyone please let
me know and would love to help people in your areas,thanks again.
My name is Oren Kleinmuntz and am a credit advisor for organization that looks to assist people who are credit challenged and need to improve there overall credit and also score. See my link at www. nationalcreditanalyst.com and see if you like to discuss. We have it set up that referrals stay in system.
Dear Ms. Kirkwood, I have sent you an invite as a friend.
I work out of Chennai, India for a real estate development company that builds world class environment friendly buildings for office space, residences, hotels and retail.
I feel that if we interact we can explore mutually rewarding business opportunites. Please feel free to reach me through email at jair.dsouza@shapoorji.com
I have been working in residential real estate within the "Main Line" suburbs of Philadelphia for 20 years. Our market has been fairly stable. We flattened out a bit in the last two quarters of 2007 and started picking back up in the 2nd quarter of 2008.
We belong to a relocation network called Leading Real Estate Companies of the World. They are comprised of independent real estate companies all over the US and in 38 countries. We have an excellent affiliate in Phoenix. They could help if you and your family need help with housing.
Let me know if you would like me to make an introduction.
That's a pretty broad question - obviously each submarket/neighborhood and product type will have a slightly different answer. However, in general, the commercial market in greater L.A. is doing fairly well, especially compared to the residential markets (especially SRF under $1 million). Overall, prices and rental rates are mostly either continuing climb steadily or holding firm.
Compare this market with the last major downturn in the early 90s. In that market, which did see major declines in commercial property values and rental rates (up to 40% in some cases). There were a number of factors locally that are not in play this time:
- Job loss. In the early 90s there were major cutbacks in aerospace and defense spending that resulted in significant job losses locally. In combination with the national recession in 90 (91?), our local unemployment was unusually high for several years. This time I am not seeing any signs of local job losses, except in the mortgage and residential real estate sectors. Yes, the overall slowdown in the economy will also likely lead to some local joblessness, but, again, nothing like in the early 90s.
- New construction. A ton of new office space (several million sq ft as I recall) hit the market from 1988 - 1992 due to tax incentives for new construction that expired at about that time. Vacancy rates would have spiked anyway with the job losses, but several submarkets (downtown, LAX, and Century City come to mind) had vacancy rates over 30% due to so much new inventory hitting the market at the same time.
- Natural (and unnatural) disasters. From 1990-1995, Southern California got hit with an unprescedented string of unfortunate events - it seemed like we were on the cover of Time & Newsweek every other week for several years. We had drought, wildfires, floods/mudslides, the Rodney King riots, the Northridge Earthquake, and the Orange County bankruptcy. (There was even a string of high profile court cases - Menendez Brothers, Rodney King [twice], OJ Simpson [twice], and some others that I can't recall at the moment - that, while not causing any economic harm, did not help L.A.'s reputation any with the general public.) There was also the whole Savings & Loan bailout (remember the RTC?) that was a nationwide problem, but hit the southwest particularly hard. Yes, we still have wildfires regularly, but the string of events that caused economic hardship in the early 90s was unbelievable.
So, other than some general tightening of credit (again, not nearly as severe as in the residential markets - commercial money never got that loose here in the first place), the local commercial markets have not changed dramatically yet. I do expect to see some slowing as the economy continues to cool, but nothing major.
It looks like I'll be leaving L.A. soon. My wife and I really want our 1-yr old daughter to grow up around her family, which is mostly in Arizona. My wife has a job lined up in Phoenix, so we'll likely be moviing there in the next few months. The Phoenix commercial market is undeniably soft (vacancy rates in the mid-teens and rising), so starting over there in commercial real estate is probably not a great idea for me. I am, therefore, open to a career change. I'm pretty actively pursuing the recruiting field - I have an offer in hand that I'm likely going to accept. I will initially focus on the supply chain/logistics industry, but perhaps will be able to diversify into real estate, technology and hospitality fields, where I have a fair number of contacts. In any event, if you are aware of any opportunities in the greater Phoenix area, I would love to hear about them.
Where are you located and how's your local market doing?
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Join this Ning Network
After reviewing your profile, I think you would enjoy and benefit from this "NEW" Social Network. Come and visit a “FREE” on-line social network named “Home Design Network”. Join others in your field, who collaborate with home owners and/or potential home owners, home improvement specialists, Realtors, stagers, designers, financial advisers, and other professionals, on related interests. Additionally the site allows you to share tips, profile and show your projects, exchange ideas and provide sound professional business advice. I would like to invite you to join us and share your valuable resource of knowledge and experience. We have just been on line a little over a month and are already within the top 3 in Google search and are getting 1200+ hits per day. Please take a moment to visit us, and if you are so inclined, join us to share your passion and experience with the network. This network is “EXCITING” and “FUN”, just ask the members. Also, the flurry of daily traffic will provide you and your company more exposure and at the same time you will be a valuable resource to home owners and potential home owners. Go to the link below and “Join us” to share your passion. Also, while at the site, watch the video “Social Media- your ticket to SUCCESS” to see some amazing facts.
Mahalo
Jim Courtney, CTS, IIDA Affiliate
(808) 375-4759
Home Design Network
http://home-design-network.ning.com/
http://www.linkedin.com/in/innovativesystems
Visit Home Design Network
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me know and would love to help people in your areas,thanks again.
I can be reached at 847 917 2871.
Thank you
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Daeshin group( Securities and economic institute)/I&B goldmun consulting/
Samsung constrution(careertech)/TYCO GROUP(ADT CASTEC)
Catholic economic forum(www.cbak.org)/
Jeongnam Gwangju home forum/korea UNIV Venture club/ Hanyang Venture Club
I work out of Chennai, India for a real estate development company that builds world class environment friendly buildings for office space, residences, hotels and retail.
I feel that if we interact we can explore mutually rewarding business opportunites. Please feel free to reach me through email at jair.dsouza@shapoorji.com
With regards, Jair
We belong to a relocation network called Leading Real Estate Companies of the World. They are comprised of independent real estate companies all over the US and in 38 countries. We have an excellent affiliate in Phoenix. They could help if you and your family need help with housing.
Let me know if you would like me to make an introduction.
Terry
Compare this market with the last major downturn in the early 90s. In that market, which did see major declines in commercial property values and rental rates (up to 40% in some cases). There were a number of factors locally that are not in play this time:
- Job loss. In the early 90s there were major cutbacks in aerospace and defense spending that resulted in significant job losses locally. In combination with the national recession in 90 (91?), our local unemployment was unusually high for several years. This time I am not seeing any signs of local job losses, except in the mortgage and residential real estate sectors. Yes, the overall slowdown in the economy will also likely lead to some local joblessness, but, again, nothing like in the early 90s.
- New construction. A ton of new office space (several million sq ft as I recall) hit the market from 1988 - 1992 due to tax incentives for new construction that expired at about that time. Vacancy rates would have spiked anyway with the job losses, but several submarkets (downtown, LAX, and Century City come to mind) had vacancy rates over 30% due to so much new inventory hitting the market at the same time.
- Natural (and unnatural) disasters. From 1990-1995, Southern California got hit with an unprescedented string of unfortunate events - it seemed like we were on the cover of Time & Newsweek every other week for several years. We had drought, wildfires, floods/mudslides, the Rodney King riots, the Northridge Earthquake, and the Orange County bankruptcy. (There was even a string of high profile court cases - Menendez Brothers, Rodney King [twice], OJ Simpson [twice], and some others that I can't recall at the moment - that, while not causing any economic harm, did not help L.A.'s reputation any with the general public.) There was also the whole Savings & Loan bailout (remember the RTC?) that was a nationwide problem, but hit the southwest particularly hard. Yes, we still have wildfires regularly, but the string of events that caused economic hardship in the early 90s was unbelievable.
So, other than some general tightening of credit (again, not nearly as severe as in the residential markets - commercial money never got that loose here in the first place), the local commercial markets have not changed dramatically yet. I do expect to see some slowing as the economy continues to cool, but nothing major.
It looks like I'll be leaving L.A. soon. My wife and I really want our 1-yr old daughter to grow up around her family, which is mostly in Arizona. My wife has a job lined up in Phoenix, so we'll likely be moviing there in the next few months. The Phoenix commercial market is undeniably soft (vacancy rates in the mid-teens and rising), so starting over there in commercial real estate is probably not a great idea for me. I am, therefore, open to a career change. I'm pretty actively pursuing the recruiting field - I have an offer in hand that I'm likely going to accept. I will initially focus on the supply chain/logistics industry, but perhaps will be able to diversify into real estate, technology and hospitality fields, where I have a fair number of contacts. In any event, if you are aware of any opportunities in the greater Phoenix area, I would love to hear about them.
Where are you located and how's your local market doing?
Doug