Mortgage interest rates are near historic low, but for how long? The price of housing is on the rise. Will the ability to buy that dream home become out of reach? Families are in better financial positions than they have been in for years and are now ready to buy a home. Often buyers trying to beat the rise in interest rates and the price of housing will rush to make the important decision on buying a house, or even worse, act out of emotion. The following are the top mistakes people make when buying a house.
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A person has worked their entire adult life building a business and it is time to sell it and retire. If that person was you and you have never sold a business how would you go about it? Maybe you want to buy a business in an industry that is new to you. How will you know if it is priced right? What if your business keeps you so busy that you just do not have time to learn all of the complexities of selling or buying a business? A solution for all these problems is to hire a Business Broker. Maybe you are in the Commercial Land Development business or you may be a Realtor in Henderson or Las Vegas Nevada who is following our blog. (Welcome!) Maybe you just happen to feel you know a lot about commercial buildings. Let’s just test that theory! Take our Commercial Building Quiz. No peeking. The answers are found after the “Read More” 1) General uses includes: a. Offices b. Stores c. Schools d. Libraries e. Hospitals f. Warehouses g. Jails h. a, c, g i. b, e, f j. all of them True or False? 2) In 2012 there was 5.6 million Commercial Buildings and they covered 87 billion square feet in the U.S. ______ 3) Approximately 170,000 Commercial Buildings per year are constructed in the U.S. and 44,000 are demolished. ______ 4) Commercial Buildings use 75 percent of the nation’s electricity. ______ 5) Climate control and lighting account for 51 percent of Commercial Building energy consumption. ______ 6) The average energy consumption per square foot consumption has decrease 9.5 percent from 1980 to 2014. ______ 7) In 2015, 40 to 48 percent of Commercial Buildings will be considered “green”. ______ 8) The U.S. accounts for 40 percent of the world’s Commercial Buildings. ______ 9) New York City leads the country in commercial construction year after year. ______ 10) Commercial Buildings use 17 percent of public potable water of which 88 percent goes to sanitary, landscaping and climate control. ______ 11) In 1970 the U.S. Steel Tower in Pittsburgh, PA was the first Commercial Building to use liquid-filled columns for fire protection. ______ 12) Based on floor square footage, the Pentagon is the world’s largest office building at 6.5 million square feet. ______ 13) Elevators in tall Commercial Buildings (skyscrapers) can travel up to 37 miles per hour. ______ 14) The Empire State Building has the longest record for being the “World’s Tallest Building” for 42 years from 1931 to 1972. The record was broken by the World Trade Center. ______ Continue for answers. The Las Vegas Valley is an area of extreme weather conditions. Although the hot, dry climate can on occasion exceed 110 degree temperatures, winters can bring below freezing temperatures. The Las Vegas Valley averages barely over four inches of rain per year. So when it does rain it is a downpour. The desert washes can be dry for years, then a desert monsoon hits and the washes are raging rivers flooding everything in their path. People who have lived in Las Vegas for twenty years of more remember the Charleston Underpass flooded, raging rivers under the Imperial Palace and aerial pictures of the Las Vegas Strip filled with water and abandoned cars. Nowadays flooding like this is unusual. What is “Mixed-Use Development” and what are the advantages in the Commercial Development business, especially here in the Las Vegas Valley? The definition is “Combining Commercial and Residential Development; zoned for both Commercial and Residential use; Projects designed for diverse functions.” More simply put; work and live in the same location. Gaining popularity in Las Vegas prior to the Great Recession, Mixed-Use Development projects can range in size from a small retail store with a couple of residential units to developments 100’s of acres in size with major retail chains, dozens of restaurants, office spaces, movie theaters and numerous residential units. But why is this concept so popular? The following four reasons explain the advantages to Mixed-Use Development. Technically, the definition of a Millennial is the generational group that followed Generation X. The Millennials are born from the mid 1980’s until the early 2000’s.They have actually replaced the Baby Boomers as the largest population bubble passing through American society. How do those of us born before the mid 1980’s see the Millennials? We see them as the kids who grew up on the internet, live on social medial and spend all their time with their faces buried in mobile devices. Land Development is the conversion of vacant land into construction ready housing, industrial or commercial building sites. The process involves improvements that have an indefinite life such as draining, excavating, filling, utilities, paving, etc. Now that we know what Land Development is, why doesn’t every one become Land Developers? We see new commercial construction everywhere in the Vegas Valley and all those Developers getting rich. It must be easy…right? Actually, far from it. Commercial building materials are constantly being improved by advances in science and technology. The world’s tallest buildings are constructed with the best steel based on high tech computer designs, but what about the vast majority of commercial buildings ranging from one to three stories in height? These buildings can be constructed of stone, steel, masonry units or wood. Many factors such as economics, climate, building codes, geography and availability influence the choice of building materials. Here are 10 advantages for choosing good old fashioned wood for both structural support and as a finished material. There are fewer and fewer vacant commercial lots seen around the Las Vegas Valley. Many of which were graded more than half a decade ago. Weeds are replaced by survey stakes, soon followed by construction equipment. In addition, new commercial sites are springing up around the Valley giving the community a feeling of optimism. Seeing is believing but here are five additional indications of an improved Las Vegas Commercial Real Estate Market. Now that the Real Estate Market is recovering, maybe it is time to invest in commercial real estate? If someone does, how do they know if they are making a reasonable rate of return on their investment. The following are 2 basic ways to calculate the return. 1: Cash on Cash Return How much money is needed to be invested in a property now to generate return at the end of the first or following years? |