Experts feeling cautious, but good, about commercial real estate outlook for 2019
Gulf Coast commercial real estate markets are poised to continue to generate high growth again in 2019, mirroring — or even eclipsing — the region’s robust stalwart performance of the past year. Much of that belief is tied to future growth in the national economy, despite potential hurdles from interest rate hikes, trade wars, a prolonged government shutdown, and fears about waning consumer confidence. [Source: Business Observer]
Many people who bought homes next to golf courses thought their property value would rise. But they are now discovering that golf-home prices can drop, too, as the popularity of the sport recedes. Decades after developers began to blanket the Sunbelt with residential communities built around golf courses, many courses are closing – triggering legal fights over the consequences. More from The Real Deal and the Wall Street Journal.
Virtual Reality is changing numerous industries as we know them. This revolutionary, cutting-edge technology is mainly associated with gaming and entertainment. However, one Central Florida company has brought this technology to their business of Real Estate. [Source: Orlando Magazine]
Chinese consumers may have soured on some American products, like iPhones, but they have only sweetened on U.S. residential real estate. And while California is still the favorite among Chinese buyers, they are now moving into markets in Texas, Georgia and Florida. [Source: CNBC]
A year after the passage of a sweeping law that capped deductions on state and local taxes -- hitting homeowners hardest in places like New York, New Jersey and Connecticut, where state income and property taxes are among the highest -- brokers from low and no income-tax states like Florida are racing to get the word out about how rich the savings are in their markets, above all for top earners. [Source: Bloomberg]
› AIA Florida Southwest 2018 Annual Design and Honor Awards [Florida Trend]
The American Institute of Architects (AIA) Florida Southwest Chapter hosted their Annual Design Conference and Awards Celebration December at the Sidney & Berne Davis Art Center in downtown Ft. Myers. The well-attended Design Awards Celebration honored this year’s distinguished architectural achievements by AIA Florida Southwest members and advocates.
› Government shutdown causing delays in Cape Coral house sales [WBBH]
Driving around Cape Coral right now, you’ll see a lot of “for sale” signs. Realtors said it’s a buyer’s market right now in Southwest Florida, but lately, it’s been a little harder to finalize sales, and they said it’s because of the government shutdown.
› Colliers' footprint growing in South Florida [Globe St.]
Colliers International South Florida is again expanding its team to meet growing industrial and office demand. They brought on board West Palm Beach-based Michael Falk & Co. on the heels of acquiring Coral Gables -based Continental Real Estate Companies Commercial Properties Corp (CREC).
› Naples office buildings owned by software mogul Arthur Allen sold at foreclosure auction [Naples Daily News]
Two commercial buildings once owned by Naples software mogul Arthur Allen have changed hands. Future plans for the property are unclear, but Naples officials approved zoning changes in 2017 to allow medical and residential uses in addition to professional offices.