Archive for May, 2009

May
28

Charleston Nightly Hotel Room Rate Falls 10% from Last Year

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– scbiznews.com

Charleston County hotels averaged 77% occupancy during April, down from 83% the same month last year.

The year-to-year decline was about 7%, according to a monthly report from the College of Charleston’s Office of Tourism Analysis.

The area’s hotel occupancy rate, an indicator of tourism activity continues its seasonal climb. Hotels were 73% full, on average, in March. Last year, average occupancy for Charleston County hotels peaked during April.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://charlestonbusiness.com/news/27849-charleston-nightly-hotel-room-rate-falls-10-from-last-year

Categories : Charleston
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May
27

U.S. Recession May Soon End, Business Economists Say

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– Bloomberg

The U.S. recession will probably end in the third quarter, a survey of business economists showed, even as rising joblessness indicates the recovery will be weaker than previously estimated.

The world’s largest economy will begin to expand next quarter, according to 74 percent of economists in a National Association for Business Economics survey. Compared with NABE’s February poll, growth will be slower and unemployment will be higher in the second half of this year and through 2010.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a62f_EptgAT0&refer=home

Categories : National News
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May
27

The Recession? It’s Over, Says Economist

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– MSN.com

When will this horrible recession be over? According to one surprising source, it’s over right now.

The source is Robert J. Gordon, an acclaimed macroeconomist and professor at Northwestern University. It’s surprising to learn he thinks the recession is over, because he is one of seven members of the elite Business Cycle Dating Committee of the National Bureau of Economic Analysis. These are the people who decide officially, for the record books, when recessions begin and end — usually many months after the fact, when the decision is really obvious.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://articles.moneycentral.msn.com/Investing/Extra/the-recession-it-is-over-economist-says.aspx
Categories : National News
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May
27

Rock Hill Area Home Prices Jump 7 Percent

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– The Herald

The average price of a home in York, Chester and Lancaster counties increased by 7 percent in April, signaling that the local housing market could be on its way to recovery after the recession caused plummeting home prices nationwide.

Homes in the tri-county area, on average, sold for $175,535 in April, according to the Piedmont Regional Association of Realtors, which was up from an average price of $164,089 in March and up from $168,689 in February.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.heraldonline.com/120/story/1366056.html
Categories : Rock Hill
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May
26

Dodds to Speak at ULI South Carolina Event

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As a proud member of the Urban Land Institute since 1998, I am looking forward to speaking during a networking session in Greenville on Monday, June 8th. Upstate members will meet at Soby’s at 5:15 PM for a discussion on “what is influencing property values.”

If you are interested in attending this ULI members only event, please e-mail southcarolina@ULI.org.

Categories : INTEGRA NEWS
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May
26

Bi-Lo Seeks Later Deadlines on Leases

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– The State

Attorneys for Bi-Lo asked a bankruptcy judge this week to extend the deadline for the Mauldin-based grocery chain to assume or reject lease agreements for its stores.

At a hearing in Spartanburg, company attorneys asked U.S. Bankruptcy Judge Helen Burris to extend the deadline to Oct. 19 or the effective date of Bi-Lo’s reorganization, whichever comes first. The deadline to assume or reject the leases is July 21.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/748/story/799903.html
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May
26

Downtown Developments Waiting For Economy to Turn

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– The Post and Courier

Four years ago, the buyers of the Millennium Music building across from Marion Square envisioned a new structure on the site with upscale office space and modern ground-level storefronts beneath six floors of residential condominiums.

But after waiting for existing leases to expire and for a zoning change, the project was never able off the ground — and thankfully so, according to one of the investors, Philip Woollcott of the PrimeSouth Group.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.postandcourier.com/news/2009/may/25/on_sidelines83497/
Categories : Charleston
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May
26

State’s First University-Affiliated Retirement Community Opens in Upstate

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– SCbizmag.com

The Woodlands at Furman, a not-for-profit continuing care retirement community, officially opened this week.

It is the only retirement community in the state that is affiliated with and adjacent to a university.

“The vision for The Woodlands was born on the campus of Furman University in 1999, and our team is proud to announce that the idea has now fully come to fruition,” said Troy Cannaday, executive director of The Woodlands at Furman.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.scbizmag.com/content/view/120760/1/
Categories : Greenville
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May
26

Economic Woes Reach the Commercial Sector in Myrtle Beach

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– The Sun News

Don’t get too attached to that coffee shop down the road or the hair salon, either.

The monetary pinch that has clamped consumers since the recession started in 2007 has spread to the commercial sector in full force, and neither golf courses, nor shopping centers nor offices are immune.

Businesses of nearly all types and sizes are being squeezed by the slowdown in consumer spending and a tough credit market, examples of which have emerged this month at Legends Group golf courses, The Market Common and GM and Chrysler dealerships nationwide.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thesunnews.com/business/story/911991.html
Categories : Myrtle Beach
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May
26

Net Lease Property Sales Pick Up

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– GlobeSt.com

Although the market is still very much in low gear, several net lease market specialists are reporting a recent increase in sales activity. Locally based brokerage Stan Johnson Co., for one, reports that it closed just three deals in January and February but that that number shot up to 14 for March and April.

Steady improvement in the last three to four months, and particularly the last three to four weeks, has been a welcome development, says Stan Johnson Co. executive managing director Harold Briggs. “We are seeing an uptick and that’s encouraging.”

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.globest.com/news/1415_1415/insider/178812-1.html
Categories : National News
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May
26

High-End Homes ‘Rent Fast’ In Midlands

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– The State

Some luxury condo and large house owners in the Midlands are turning to rentals as a way to wait out a down real estate market.

A nearly 5,000-square-foot house in Blythewood’s Cobblestone Park subdivision with a separate apartment, a wet bar and a media room that overlooks the University Club Golf Course rented last week for $3,495 a month.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/local/story/799172.html
Categories : Columbia
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May
21

Point-Of-Sale Reassessment Bill Stymied For This Year

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– scbiznews.com

A change to point-of-sale reassessment of real estate has apparently stalled for the year in the Legislature.

S.C. Realtors Association CEO Nick Kremydas said the bill, which has passed the House, got caught up in the Senate’s fights over unrelated matters and opposition, especially from Senate Democrats.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.columbiabusinessreport.com/news/27784-point-of-sale-reassessment-bill-stymied-for-this-year?rss=0

BLOG NOTE:
.
I understand that Senators Lee Bright, Phil Leventis, Brad Hutto, John Matthews, Yancey McGill, Kent Williams and Floyd Nicholson are the main opponents of the bill……
.
Michael Dodds

Categories : South Carolina News
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May
21

Referrals…..You Gotta Love Them

Posted by: | Comments (2)

I would like to take an opportunity to thank those of you that have recently referred appraisal and consulting assignments to me. I can think of two instances where a new client referred to S.C. Real Estate News. We’ll call it a return on the investment of time that I make everyday.

If you are new to the site, I own commercial and residential appraisal firms…..

Integra Realty Resources – SC provides commercial appraisal and investment consulting services. I am the managing partner of the Columbia and Greenville offices, although we have 56 offices nationwide. We also provide market study and tax appeal services as well.

IRR-Residential has 47 offices in 21 states, making it the largest residential appraisal firm in the nation. I own the Columbia and Greenville franchises of IRR-Residential. IRR-Residential also has a variety of options available to assist with HVCC compliance.

Please let me know if I can ever assist with your appraisal needs.

Michael B. Dodds, MAI, CCIM, MRICS
Comments (2)
May
21

Social Networking for CRE Professionals

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I recently discovered a new website that I like. It’s kind of like LinkedIn, but is specifically for commercial real estate professionals. CREOPoint.com is a great site to find the latest industry news, networking opportunities, white papers, best practices, forums, event calendar and career development opportunities.

Check it out. I think you will be impressed.
http://www.creopoint.com/

Michael Dodds
Categories : National News
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May
21

Lexington Market Overview

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– MidlandsBiz

The Lexington market area is located in the western portion of the Columbia, South Carolina metropolitan area. It is bounded on the north by Lake Murray, on the south by Interstate 20, on the west by Calks Ferry Road and the east by the Saluda River. The geographic and economic center of the market is the Town of Lexington. The area is one of the fastest growing areas in the Greater Columbia area, second only to the Northeast Richland market.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.midlandsbiz.com/news/headlines/358/

Categories : Columbia
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