Both renters and owners can benefit
So much has been changing in recent years, and the commercial real estate market has definitely been impacted by all of this.
Everything seemed to be just moving along, and then when the financial crisis hit us in 2008, it became clear that we were now entering into a very different era.
The bailouts came, financing became much more difficult to obtain, and people began recognizing that everything had greatly changed.
Then for several years after this things became much tougher than what many of us had been expecting, and people began wondering what this would all mean for the future of commercial real estate.
While we're definitely not experiencing the same booming economic times like the ones we were experiencing years ago, people are beginning to feel more confident.
Property values seem to have firmed up, vacancies have, generally speaking, become easier to find tenants for, and financing is beginning to become easier to obtain, too.
So much has been changing since 2008, and if you haven't had a recent appraisal done on your property, now may be the time to do so.
You don't necessarily have to get an expensive, elaborate appraisal done, but you should know what your property is worth in today's market.
If you're a tenant who's renting or leasing, you should know what the fair market rent would be for the space you're currently occupying.
As we're seeing signs that the real estate market is firming up, this can definitely have a compound effect on both businesses and on our own lives.
People are now feeling a bit more relaxed, and entrepreneurs and business owners seem to be feeling more confident about their businesses.
As a result, people are feeling more confident about both spending and investing, which will have a direct impact on our economy, too. In addition, as financing begins to become more available, more buyers will come into the market, helping to firm up the property values also.
The overall improvement in both activity and confidence has tenants feeling more confident about their businesses, which will cause the demand to rent more space within the market to increase, too.
It's definitely exciting to see more people walking around with a bit more spring in their step these days whenever they're talking about commercial real estate.
So if you're considering selling, leasing, or refinancing, knowing exactly what your property is worth right now can be an important step in helping you to make the right decisions.
The real estate market has been changing, and while you may think you know exactly what your property is worth right now, or what your existing space would rent for in today's market, you may be operating off of old information.
Merrill can be reached at [email protected]
So much has been changing in recent years, and the commercial real estate market has definitely been impacted by all of this.
Everything seemed to be just moving along, and then when the financial crisis hit us in 2008, it became clear that we were now entering into a very different era.
The bailouts came, financing became much more difficult to obtain, and people began recognizing that everything had greatly changed.
Then for several years after this things became much tougher than what many of us had been expecting, and people began wondering what this would all mean for the future of commercial real estate.
While we're definitely not experiencing the same booming economic times like the ones we were experiencing years ago, people are beginning to feel more confident.
Property values seem to have firmed up, vacancies have, generally speaking, become easier to find tenants for, and financing is beginning to become easier to obtain, too.
So much has been changing since 2008, and if you haven't had a recent appraisal done on your property, now may be the time to do so.
You don't necessarily have to get an expensive, elaborate appraisal done, but you should know what your property is worth in today's market.
If you're a tenant who's renting or leasing, you should know what the fair market rent would be for the space you're currently occupying.
As we're seeing signs that the real estate market is firming up, this can definitely have a compound effect on both businesses and on our own lives.
People are now feeling a bit more relaxed, and entrepreneurs and business owners seem to be feeling more confident about their businesses.
As a result, people are feeling more confident about both spending and investing, which will have a direct impact on our economy, too. In addition, as financing begins to become more available, more buyers will come into the market, helping to firm up the property values also.
The overall improvement in both activity and confidence has tenants feeling more confident about their businesses, which will cause the demand to rent more space within the market to increase, too.
It's definitely exciting to see more people walking around with a bit more spring in their step these days whenever they're talking about commercial real estate.
So if you're considering selling, leasing, or refinancing, knowing exactly what your property is worth right now can be an important step in helping you to make the right decisions.
The real estate market has been changing, and while you may think you know exactly what your property is worth right now, or what your existing space would rent for in today's market, you may be operating off of old information.
Merrill can be reached at [email protected]