One thing appears clear in the third quarter of 2023 from our tracking of commercial real estate activity in Grass Valley, Nevada City and Nevada County: barring a huge fourth quarter rebound (which I highly doubt will occur) sales volume has dramatically slowed versus that in 2022. As of the end of Q3 2023, sale …
The commercial real estate market today is plagued by significant uncertainty which is leading to falling activity levels and property values throughout much of the U.S. Many investors are on the sidelines waiting for the Fed’s quarterly interest rate hikes to cease, which would likely signal the bottom of the market and begin to spur …
As if high and still climbing interest rates were not enough, the first quarter of 2023 saw two of the 30 largest U.S. banks collapse within a 72-hour window, sending shivers up investors’ spines and prompting historic action by the feds to stabilize the financial system. This has caused remaining solvent banks to further tighten …
Sperry Commercial Global Affiliates recognized Lock Richards as a Top 10 producer for the 3rd year. Congratulations 2022 award winners! Lock Richards of Highland Commercial placed 6th for 2022.
At year-end 2022 the Fed is in the middle of their most aggressive financial tightening since 2008, in a desperate attempt to halt rising inflation brought about by huge government deficit spending and supply chain effects from the pandemic and Russia’s war on Ukraine. The Fed’s ongoing quarterly interest rate increases have led to the …
For better or worse “The Hangover” film series may have ended at three, but Hangover 4 may still be heading our way in the form of economic repercussions caused in large part by governmental over-imbibing in the national money supply. While the pandemic and related shutdowns clearly warranted monetary stimulus, as can be the tendency …
The second quarter of 2022 produced mixed economic signals calling into question the factors that determine a recession. Inflation skyrocketed to over 9% driven primarily by gas and food prices. The Fed is targeting successive 75 basis point increases in the Fed Funds Rate in an attempt to tame the price increases. Additionally, GDP has …
The industrial real estate market in Western Nevada County (namely Grass Valley and Nevada City) is tighter than it has ever been in my 25 years of real estate work here. Our industrial vacancy rate now sits at less than 1.5% and rents are steadily increasing. The pandemic has led to a greatly increased money …
2021 has come to a close with the pandemic continuing to negatively affect the economy in various ways including jobs, supply chain issues and inflation. In spite of this, I feel the commercial property market in Western Nevada County (i.e. Grass Valley and Nevada City) has fared relatively well as evidenced by the graphs to …
How is our local commercial real estate market performing in comparison with the national market? Starting with the office market: Nationally, 26mm net square feet were leased in the 3rd quarter and the office vacancy rate fell +-1% to 16.1%. Locally, office vacancies increased slightly by 5 basis points to 10.71% – still a tighter …