In recent months, "For Sale" signs have accumulated in Woodland Park faster than the snow in the mountains. Nearly two dozen commercial properties are on the market in this mountain town of 7,500 west of Colorado Springs.
When you look at the data released this week by Moody's regarding commercial real estate prices, one term comes to mind: pent-up demand. Investors are tired of having been on the sidelines for so long and are actively buying commercial property now that market conditions are improving, especially with so many discounted distressed assets available for sale. Moody's/REAL Commercial Property Price Index rose 6.3 percent in May from April, marking the first time commercial real estate prices have increased in six months and the largest gain since the index began in 2000. Despite the increase, the index remains down 11 percent from a year earlier and 46 percent below the market peak in October 2007.
Shopping for a vacation home on the Outer Banks? Hampton Roads Bankshares Inc. has one for sale in Waves, N.C., for $514,900. Interested in buying commercial property? The parent of Bank of Hampton Roads and Shore Bank is offering a gutted building on Washington Street in downtown Suffolk for $125,000.
The following is a review of the town of Rumford that I found while browsing through local real estate listings online. It was on a national real estate Web site with listings all over the country and thousands of hits per day. Rumford, Maine, is and has been a seriously economically depressed area for more 30 years. The single major employer, except for town government and schools, has been one paper mill, which is all but shuttered. With the steady shutdown of machines, removal of equipment and layoffs, the community has also lost the bulk of its ancillary positions and enterprises in trucking and timber harvesting. Most mill management, prior to elimination of on-site management, did not live within the town but commuted from Bethel, Lewiston/Auburn and other more culturally and edu...
Supervisors unanimously approved North Way Community Church's plan to subdivide 8.4 acres of its property along Route 19 for eventual sale and commercial development. They also scheduled a public hearing for Feb. 21 on proposed amendments to the township's code.
In light of the economic turmoil, if not collapse, which is occurring all around the world, Santa Fe is doing pretty well. It doesn't seem like to me the price of housing has had the precipitous fall other cities have seen; Í have seen a lot of commercial property for lease or sale. However, it seems with the number of people in the city this summer, it's just as busy as ever. I'm a volunteer at the International Folk Art Market, and it was as strong as it's ever been, as far as ticket sales, which then I'm assuming translated into pretty healthy sales for the artists."-Sally Spencer, Santa Fe Council on International Relations president "I think it's amazing the City Council is moving forward taking control of the College of Santa Fe campus in this extremely difficult economy. It woul...
DeSoto County's annual property tax sale looks like a good haul for cash-hungry county coffers, raking in almost $6.21 million so far on some 4,480 parcels. We're still working on final figures," said Libby Riley, bookkeeper on the staff of DeSoto Tax Collector Joey Treadway.
Rialto site sells for $1.265M RIALTO - Coldwell Banker Commercial Inland Empire recently announced the sale of a property here for $1.265 million.
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