2009 July | Real Estate Ambassador by Ark Rhowmine

Archive for July, 2009

Gimme Shelter – Housing Market Grabbed Attention | Commercial Real Estate | Wausau WI

filed under: Commercial Real Estate Market posted on July 31st, 2009

Gimme Shelter – The housing market grabbed attention this week as the latest indicator to suggest the economy is at or near the bottom.

The closely watched Standard & Poor’s/Case-Shiller 20-city home price index reported a 0.5 percent gain in the average price of a single-family home from April to May, the first increase in 34 months. Prices in 15 of the 20 cities in the survey increased or remained stable. On a seasonally adjusted basis, the composite price fell 0.2 percent, the smallest decline in 27 months. (The index is based on a three-month moving average, i.e. the three months ending in May compared with the three months ending in April.)
Existing home sales in June rose to an annualized rate of 4.89 million, the third consecutive monthly gain according to the National Association of Realtors. The months’ supply of available inventory on the market fell to 9.4 from a peak of 11 months one year ago.
New home sales also increased for a third consecutive month, rising to an annualized pace of 384,000 in June according to the Census Bureau. After peaking in January at 12.4, the months’ supply has fallen to 8.8.
Housing starts jumped 3.6 percent in June to an annualized rate of 582,000, the fastest pace since November. Although construction remains weak, it’s another sign that the market is stabilizing.

The housing slide triggered the credit crisis and the recession, and a housing recovery is necessary for the economy to grow again. Recent news suggests this is beginning to happen.

Source: Robert Bach, SVP, Chief Economist, Grubb & Ellis

Commercial Real Estate & Investment Properties listed by Ark Rhowmine click here.

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Commercial Flex Building | For Sale | Wausau WI

filed under: Commercial Property For Sale posted on July 14th, 2009

2514 N 14th Ave -

Prime Commercial Flex Building
Potential: Office/Retail/Light Warehouse
1-4 Units Build-out
High Traffic/High Visibility
Easy Access from Hwy 51/39 North end of Wausau
New – 3 Years
Building Size: 6,824 SF
Zoned: General Bus-3
Asking: $599,000
For more details click here.

To view other properties list by Ark Rhowmine click here

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Average Commercial Lease Term is Dropping | Commercial Real Estate Wausau Wisconsin

filed under: Commercial Real Estate Market posted on July 6th, 2009

The National Average Terms of office and industrial leases signed in the second quarter of 2009 were the shortest of the decade at 52.3 months for office leases and 43.4 months for industrial leases. This is in comparison to average 62 months for office leases and 55 months for industrial leases in the years 2000 and 2001. The recession and weak corporate profits are prompting many tenants to choose short-term extensions as leases expire instead of new, five-year leases. These tenants prefer the flexibility of a shorter commitment to the generous terms on offer by many landlords who would prefer to lock in tenants for longer periods. However, not all landlords have five-year terms. Some think three years is the optimum length because they believe that rental rates will begin to rebound before the five-year terms are up, and want to be in a position to raise rents as soon as market conditions permit.

Source: Robert Bach, Senior Vice President, Grubb and Ellis.

To view commercial properties listed by Ark Rhowmine click here.

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Business Opportunity | Greenhouse & Nursery For Sale | Greater Wausau Area WI

filed under: Business Opportunities, Commercial Property For Sale posted on July 1st, 2009

Business Opportunity | Greenhouse & Nursery For Sale | Greater Wausau Area WI. Excellent turnkey business with a 3- Bedroom Home, 2 garages and 3 large greenhouses on 5.8 acres. Progressively growing for more than nine years. Seller would sell Business separate from land if buyer wants to relocate.

THIS PROPERTY HAS BEEN REMOVED FROM THEMARKET.

Asking price is $739,900. For additional information and property brochure click here. This business is listed by Ark Rhowmine, Commercial Real Estate Agent – Broker.

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4th of July | Thomas Jefferson

filed under: God Bless America posted on July 1st, 2009

“I place economy among the first and most important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt.”
Thomas Jefferson, 1743-1826
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He died July 4, 1826… exactly 50 years from the day he signed
the Declaration of Independence on July 4, 1776