More Good News about Commercial Real Estate Activity

We just looked at our booked sales through May and compared them to last year's numbers.  We are 325% over last year at this time!  Even taking out our biggest sale leaves us way up from 2011.  It's unusual for commercial sales to rebound with or before residential, but that does seem to be happening.

There will still be time to buy or lease before prices really start to rise, but that time is clearly coming, since very little was added in the way of new space in the past decade.  So, if you have space needs, fill them now, or don't complain when you can't do it, or do it at the same price, next year!

A Challenge

We're having a little contest here at Pearce Commercial.  We just had an investment property close in 58 days from listing to transfer of title.  Since so  many commercial transactions are affected by tax considerations, and since many companies and individuals have calendar year tax periods, we know that there will be some among you who are going to want to complete a transaction before the end of 2011.  So, here's the challenge:  Can someone out there beat the 58-day record?  It may be that the clock has already started, because the property to be transferred may already have been listed.

There are 39 days, counting today (because there's plenty of time to act today!), left in 2011.  So use them wisely, and help us beat the current record holder.  Buy today-close in December!

It's the Buying Time of the Year

If you are interested in acquiring investment or commercial property, and you have any hope of doing so by the end of the year, you need to be acting right now.  We just had a wonderful investment property close in 58 days from the day of listing to the day of closing.  That's about the number of days left in 2011.  It will most likely only work if you will be closing with cash, but almost 40% of all properties that have sold this year in Connecticut have sold for cash. 

Many people like to try to put whatever expenses they can into the year just ending.  Others have let the end of the year sneak up on them.  Still others may have begun their tax planning, and may just have realized that they have real estate transactions that they should be completing.  Whatever the reason, we see more rushing at the end of the year than at any other time.  Both buyers and sellers are often motivated to move quickly, for personal, tax, or business reasons, and there's always a push to get things completed before the holidays simply sweep most work aside.

Don't get caught--act now.  Call your Pearce Commercial agent today!