Expert Opinions: What 2014 Holds For The World Of Real Estate

November 25th, 2013 by Michael Oliver

Tuscon Real EstateIt’s looking like 2014 is going to be a good year to be a Tucson realtor.  The real estate market of 2014 should see moderate growth in both prices and interest rates. Most of the expert opinions on the subject call for home prices to weaken or decline, but I think we will also see prices raise as fewer and fewer quality properties will be able to be purchased for low prices.

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New Health Care Law And What Real Estate Investors Can Do To Benefit From It?

March 24th, 2010 by Michael Oliver

Commercial medical office real estate should do very well in Tucson with the new health care law

While I’m sure about everyone knows the health care law is now passed depending upon what your thoughts are you may like the new law, or dislike it either way at this point not a whole lot is left to debate. For real estate investors that are quick and like to take advantage of new changes I would be very willing to bet real estate in the health care sector is about (already happening) to take a jump.

2009 Looks To Be A Rough One For Commercial Real Estate In The United States

December 24th, 2008 by Michael Oliver

This article is from www.realtor.org and talks about what issues and expectations that should impact commercial real estate in the United States for the next coming year (2009). I thought this article was decently interesting as it does bring up some serious issues that are relevant to Tucson Arizona’s commercial real estate market.

Since commercial property performance usually tracks economic conditions, it will come as no surprise that 2009 looks like a challenging year for commercial real estate owners, brokers, and managers.

“The weak economy has shifted the fundamentals in commercial real estate,” says NATIONAL ASSOCIATION OF REALTORS® Chief Economist Lawrence Yun.

Commercial Real Estate in Tucson Appears to be Slowing

March 25th, 2008 by Michael Oliver

Tucson’s commercial real estate market seems to be slowing along with the rest of the economy. All sectors (retail, office, apartment, and industrial) seem to be in line to see slowdowns in expansion (new construction). Higher vacancy rates are expected as well.

Though retail real estate should start to see slowdowns due to the overall weakening economy, I do see Tucson holding up better than many other areas of the country. Its growing population puts direct demand on all sectors of real estate. Large retailers, however, will be very cautious about taking on new space. Smaller retailers feeling the pinch will most likely look for concessions from landlords to help get them through if the downturn is more severe than predicted.

Bourne Partners LLC Buys Large Office Complex For $37.67M — Owns Building For 2nd Time

February 3rd, 2008 by Michael Oliver

Don Bourne, CEO of Bourne Partners — one of the largest commercial investors and developers in town — has purchased the AOL building located at 5401, 5421, 5431, and 5451 E. Williams Centre. The buildings total approximately 196,179 square feet of premium office space. Bourne, the original developer of the buildings, completed their construction in 2001 and sold them to a New York based investment group for $30.6M. After a few years of ownership, the group decided to sell because this one office complex was their only asset west of the Mississippi River. They wanted to limit their holdings to properties closer to their base. Don Bourne stepped up and repurchased the property. He stated, “We think it’s great real estate, and we thought there would be good demand for lease space in those buildings for a long time to come.” The major tenant of the complex is AOL, who occupies three of the buildings — about 100,000 square feet. When a major investor and presence in the Tucson real estate marketplace such as Don Bourne takes a stance to step up and buy a very large office complex, that has to set the bar. Markets will take notice that though Tucson’s commercial market, like its residential market, may be soft right now, in the long run, the market is a buy. Buying now may seem like jumping off a cliff, but the biggest money in real estate is always made when everyone is running out of it and no one wants to buy. Well, except Don Bourne and a few others who dominate the local Tucson market, such as Chris Kemmerly and Steve Quinlin, who recently purchased all of the local assets of national homebuilder Standard Pacific. Kemmerly also sold his interest to Standard Pacific a couple years ago, only to buy it right back.

Michael Oliver - Best Tucson Realtor