You Tube Videos Experiment Now Working
July 27, 2010 10:55 AM
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The Power Team added one more tool to the toolbox last week and created our first 3 You Tube videos. Check out the links below. Our next step is to improve quality and add voice. Any input (constructive only) will be appreciated.
blockbuster
http://www.youtube.com/watch?v=NECGb08be00
970 mchenry ave
http://www.youtube.com/watch?v=6JOsmj2wpLo
bakley
http://www.youtube.com/watch?v=XwKB8WmJr6M
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GOOD NEWS ABOUT RETAIL VACANCY
July 23, 2010 12:28 AM
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A July 19 Crains article by Thomas Corfman heralded the news that the retail vacancy rate dropped for the first time in three years in the second quarter of 2010. The amount of vacant space in shopping centers and strip malls dropped to 11.9% from a 12.1% rate the first quarter. To keep things in perspective, 3 years ago, the rate was 7.51%. Retail rents are also edging upward. In the last month, Crains has reported vacancy rate decreases for the office and industrial sectors also. Could...
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WHAT IF REALTORS WENT ON STRIKE?
July 21, 2010 11:15 AM
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Watching the lack of progress on the Virginia Road repaving project (due to the truckers strike, which may actually be over), I found myself daydreaming about the prospect of all real estate agents forming a union and staging a nationwide strike, for higher commissions, of course. Just think of it each and every licensee walking a picket line or sitting on lawn chairs like the truckers union does. The image sends chills down my spine! In my reverie I contemplated taking an extra 10% or so...
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Industrial Vacancy Falls
July 13, 2010 11:33 AM
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A July 12 article in chicagorealestatedaily.com (powered by Crains Chicago Business) reported a trend-breaking drop in the industrial vacancy rate from 12.3% to 11.9% in the second quarter. You gotta love it when a 10 quarter trend is disrupted for the first time in 2 years. Colliers International who tracks 21 submarkets in Chicagoland is giving us something positive to talk about in the industrial real estate market. They also reported a positive result in net absorption which turned...
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Suburban Office Vacancy Rates Continue to Increase
July 7, 2010 1:56 PM
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A July 6 Crains article reported 96.5 million square feet of suburban office space in Chicago of which 25.4% (one out of every 4 square feet) is currently vacant. The second quarter of 2010 was the 13th consecutive quarter of increasing vacancy. This was the highest vacancy rate in more than a decade. The vacancy rate is directly related to new jobs. The U.S. Labor Department announced in June only 83,000 new private sector jobs were added to the economy. That's not even treading water....
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Seeking . . . .
June 16, 2010 11:21 AM
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We are scouring the business literature for articles containing any shred of evidence that the market is turning around. Lately we have struggled to find much tangible evidence. Are you seeing anything that gives you encouragement that we are turning the corner?
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Select Vendors Get Plugged
June 8, 2010 11:58 AM
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The June 4 N.W Herald printed an article we wrote about our ongoing Fundraiser for the local Food Pantries. We are building a list of reputable businesses that provide services related to the commercial real estate transactions. This is our third year orchestrating this program and to date our vendors have contributed $11,200 to the Cary and Crystal Lake Food Pantries. We are looking for an appraiser, a roofing firm, a commercial flooring company, a computer company, office interiors firm,...
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Economic Incentive Policy
June 3, 2010 1:25 AM
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Lake in the Hills has impressed us by recently adopting a new Economic Incentive Policy which provides perks to certain businesses on a case by case basis for opting to locate in their commercial corridors. About 640 business licenses will be issued in LITH in 2010 and $2.7 million in sales tax is expected to be generated. Dan Olson, Director of Community Development spoke at the June 1 monthly meeting of McHenry County Commercial brokers and mentioned how successful this program was when...
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Turning Down Listings
May 26, 2010 10:48 AM
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No broker wants to turn down a listing. There are times when listings are hard to come by. Not now! But we find ourselves saying no thanks more and more these days. Some sellers are just not motivated enough or realistic enough to offer up a marketable property. The price is often the culprit. Commercial real estate values have plummeted 30-40% nationwide in the past two years. Trying to sell it at the price on your two year old appraisal is lunacy. The old appraisal means nothing....
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Craigslist For Real Estate?
May 19, 2010 1:34 PM
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We started experimenting with posting listings on Craigslist about a year ago. We heard it was like Alice's Restaurant. Remember the song lyrics? You can get anything you want at Alice's Restaurant. With some 20 billion (with a B) page views per month, and 50 million U.S. individuals using the service, and the fact that it is free, why not try it out? We got some response a year ago but not enough to encourage us to keep using it. So several months later, we are posting new listings to see...
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