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Commercial Markets Maintain Momentum in Second Quarter 2012
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Commercial real estate in REALTOR markets continued on a stabilizing path during the second quarter of 2012. Based on the results of the July Commercial Real Estate Market Survey, market activity at the national level posted improvements compared with the first quarter of the year.
On the leasing side, activity rose four percent over the previous quarter, indicating rising demand. On the supply side, new construction is showing signs of improvement. Vacancies declined for all property types, except office. Industrial rates declined 15 basis points, to 15.5 percent while retail rates decreased 50 basis points, to 15.8 percent. Multifamily properties recorded vacancies of 7.2 percent in the second quarter, down 14 basis points from the first quarter. Office availability rates rose from 18.0 percent in the first quarter to 24.7 percent in the second quarter. For more, see the full article, and to read the full July 2012 commercial market survey, click here.
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Commercial CE and Networking at the LR Fall Convention, September 19 in Shreveport
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Attention commercial REALTORS! Did you know that at this year's Louisiana REALTORS Fall Convention & Expo, you can earn up to 8 hours of CE credit with courses specific to your specialty? Join us at the Shreveport Convention Center on September 19 for the convention's REALTOR Education Day and benefit from top notch education offerings and quality networking opportunities with your peers in commercial real estate.
Kick off the day with national speaker Oliver Frascona's CE-approved keynote session "Recovery Begins With R", then Oliver shares the best risk management practices at his session for commercial agents, "Life in the 6 D's: Defects, Discovery, Data, Disclosure, Damages, Defendants". In the afternoon, pick up 4 hours of CE with LR's newest commercial course by instructor Randy Roussel: "Leasing and Purchase Agreement Issues for Income Producing Property". Throughout the day, attendees will have the opportunity to browse the convention's REALTOR Expo tradeshow and experience the latest real estate products and services. Get more detail on the CE courses by checking out the description on the full event schedule.
Wrap up the day with a special commercial networking reception hosted by the Northwest Louisiana Association of REALTORS at the adjacent Shreveport Club from 5:00 to 7:00 pm. The next morning, September 20, representatives from the Louisiana Commercial Database (LACDB) will be providing training on the state's most widely used commercial property listing database.
Can't spend more than a day away from the office? No problem - we're offering a one-day registration for September 19th, which includes the CE courses, tradeshow attendance, lunch and the commercial networking session at only $79 for REALTOR members. For registration options, click here.
Commercial practitioners, we hope you'll take advantage of this unique education and networking opportunity. For more information, see the convention website or contact Kevin Calbert at 800-266-8538.
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The 3.8% Tax: Resources for REALTORS
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The National Association of REALTORS has prepared a new guide, Top 10 Things You Should Know about the 3.8% Tax.
The tax is NOT a transfer tax on real estate sales and similar transactions. Not long after the tax was enacted, erroneous and misleading documents went viral on the Internet and created a great deal of misunderstanding and made the tax into something far more draconian than the actual provisions.
The new tax does NOT eliminate the benefits of the $250,000/$500,000 exclusion on the sale of a principal residence. Thus, ONLY that portion of a gain above those thresholds is included in AGI and could be subject to the tax.
REALTORS should familiarize themselves with the tax, but should advise upper income clients or clients who have a large capital gains to seek the guidance of a tax professional. The amount of tax will vary from individual to individual because the elements that comprise AGI differ from taxpayer to taxpayer.
Visit the links below for additional in-depth information.
• Top Ten Things You Should Know about the 3.8% Tax (printable PDF version) • NAR video • FAQs • Download a comprehensive brochure • NAR President's Podcast
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LR Webinar: What You Need to Know About the 3.8% Tax
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LR will conduct a special webinar at 10:00 am on Friday, August 31 on the new 3.8% tax going into effect January 1, 2013 which is part of the health care reform legislation. National Association of REALTORS Federal Taxation Director Linda Goold will clarify the provisions of the tax, clear up some of the misinformation that has been circulating about it, and explain the implications for commercial and investment real estate. To register for our informative FREE webinar on this important issue, click here. For additional information, please contact Norman Morris at 800-266-8538.
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Commercial Development Conference, October 16 in New Orleans (CE opportunity)
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The annual Louisiana REALTORS Commercial Development Conference is scheduled for October 16, 2012, from 1:30 – 5:30 pm at Roussel Hall on the campus of Loyola University in New Orleans. This year's program is being offered in conjunction with the New Orleans Metro Association of REALTORS Commercial Investment Division's annual Fall Forecast program, which will be presented earlier that day at Roussel Hall.
Attendees will earn 4 hours of CE credit and hear from industry experts, including noted demographer and political analyst Elliott Stonecipher, architect and smart growth expert Allen Eskew, and a "Living with Water" panel discussion that will cover environmental issues, planning strategies and water management issues related to development in coastal and south Louisiana.
Don't miss the valuable perspective and information that this unique CE opportunity presents. For complete details and online registration, visit www.larealtors.org/meetings/commercial. For more information, please contact Kevin Calbert at 800-266-8538.
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8 Essential iPad Apps For Commercial Real Estate
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The Source Blog takes a closer look at some of the top apps available to make you more productive as a commercial real estate professional. There are some great tools out there to help you in your daily business, and COmmercialSource's Wayne Grohl highlights several of them. See the full post and apps list here.
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Read the latest Louisiana CCIM chapter weekly newsletter  PDF File
This week's REALTOR® events and activities...
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