General Commercial Real Estate Articles

General Articles on commercial real estate

California Brokers Need a Cooperating Nevada Broker

Once in a while I run into an out-of-state broker, most often one from California, who want to get paid in a real estate transaction and they find that they coan't get paid from a Nevada real estate broker as a California broker.

If you want to get paid from a real estate transaction in Nevada and you are a licensed broker in California you need to work with a cooperating broker in Nevada and fill out and submit a Nevada Out-of-State Cooperative Certificat (Form 542) and submit it to the Nevada Real Estate Division.  When filed with the Division together with a $ 150 fee, license attached, license history, two (2) fingerprint cards and a 2" X 2" photograph a single transaction approval may be issued.

Using Custom Real Estate Contracts

Some commercial real estate (CRE) organizations in Las Vegas offer a commercial purchase agreement to their members but some individuals opt out of those forms in favor of their own custom forms.  Reasonably they want to control the outcome of purchasing issues that often destroy a real estate deal.  A couple of provisions that custom purchase agreements attempt to deal with that are now well address by standard forms include; escrow, contingencies, seller warranties, contract termination and others.

Who is Buying and Selling Real Property?

It's no secret that there are more and more Wall Street investors who have entered local real estate markets like ours in Las Vegas.  They are not only buying up huge blocks of residential homes, they are alos solidly in the commercial real estate (CRE) market.  It used to be that small investors were an importan block of buyers in both market segments, but things are changing.  Why?

Convert your Office to a Retail Use

If you are a commercial real proeprty owner in Las Vegas, Nevada and you follow the vacancy rates by property type you are probably already aware that the weakest commercial real property type or segment is offices, and in early 2014 we are still seeing a vacancy rate near 23 percent for them.  For some there exists an opportunity to take advantage of the stronger retail market with vacancy rates closer to 11 percent.  Making a full or partial transition depends on a number of factors.

Las Vegas Commercial Market 2014

While some scramble to come up with justifications to support their self-serving conclusion that 2014 will be a strong year for commercial real estate (CRE) in Las Vegas, Nevada there are many reasons to believe that there won't be much of a change from 2014. 

Are Commercial Short Sales and REO’s Disappearing?

While some reports indicate that the CRE mortgage default rate has continued to rise in 2013 it is my perception is that distressed sales (short sales and REO’s) as a percentage of total commercial real estate (CRE) sales are down.  That doesn’t mean that the CRE market is strong and it’s definitely not a sign that its “booming.”  What it does mean is that if you are searching to buy a commercial property there are relatively fewer distressed deals around as a percentage of all available deals.

Land Market Timing

Land markets, like most real property markets, react to what is effectively a “mob mentality.”  Everyone hears about big gains, they rush into the market until the “next greater fool” theory has exhausted the buyers, the market turns and then immediately many of the new owners want out.  That’s when the rush to dump land holdings begins and the roller-coaster is on the way down.

Will the Echelon Project Sale Turnaround the Las Vegas Commercial Market?

While there is no doubt in my mind that the approval, sale and development of the Echelon property will go a long way toward bolstering the Las Vegas Strip image, it isn't a pancea, its not going to solve many of the problems still notable in our commercial real property markets.

What Makes a Good Commercial Real Estate Marketing Brochure?

If you want to evaluate how your listed property is being marketed you may want to take a look at the brochure that has been prepared.  If the agent says that there is no marketing brochure, I guess that would concern me as an owner.  You may want to ask, how are information requests being dealt with?  How do potential buyers and cooperating agents get the information you want conveyed to them?  Most firms do put together some type of brochure or flyer is there a difference?

Las Vegas High Rise Condominiums

There are many Las Vegas high rise condominium buildings that are influenced to some extent by the percentage of developer ownership.  Developers are generally looking to increase the value of their inventory, and that means selling condo units for as much as the market will support.  There's nothing wrong with that, unless you are a buyer looking for a bargain.