LR HOME > COMMERCIAL > ENEWS COMMERCIAL
Michael Lipsey - May 7 in Lake Charles
E News Commercial
Tuesday, April 29, 2008 | View Back Issues Archive

Registration Open for 2008 Alternative Commercial CE Course
Louisiana REALTORS is pleased to present "Commercial Agency & Purchase Agreements" (Commercial Alternative for Mandatory Topic 2008) a special CE course that provides an in-depth examination of commercial purchase agreements and the rules of agency from a commercial real estate perspective. This 4-hour course has been approved by the Louisiana Real Estate Commission (LREC) as a commercial alternative to the 2008 mandated CE topic required for license renewal.

Through this course, commercial practitioners have the opportunity to satisfy their 4-hour continuing education topic requirement in 2008 with a new course that relates specifically to their specialty. The first offering of the course is scheduled for Friday, June 6 at the NOMAR board office in Metairie, with other course dates and locations including Shreveport on July 23 and New Orleans on September 4. Additional dates and locations are being added at this time. For more information or to register, click here.

 
State Legislative Update: Key LR Bills Pass House, Cell Phone Bill Advances
Two key real estate bills sponsored by Louisiana REALTORS passed the full House with unanimous support this week.

House Bill 192 by Chairman Jeff Arnold represents the culmination of hard work over the last year by members of industry, real estate schools, educators, and representatives of the Louisiana Real Estate Commission. The proposed legislation would bring Louisiana’s real estate industry into the top tier of states as it relates to educational and professional requirements. Enhanced educational content, when coupled with this legislation will allow licensees to better represent real estate consumers in all transactions. HB 192 would:

• Increase post licensing education requirements for salesperson and brokers who are initially licensed from 30 to 45 hours
• Increase yearly continuing education hours from 8 to 12 hours
• Increase the number of years until an agent can sit for the broker’s examination from 2 to 4 – applies to licensees who are licensed on or after January 1, 2009.

View current text of HB 192 (PDF file)

House Bill 156 by Chairman Jeff Arnold creates a peer review mentoring program under the umbrella of the Louisiana Real Estate Appraisal Board. This legislation was the hard work of members of the Louisiana REALTORS Appraisal Team, members of the Louisiana Real Estate Appraisal Board and appraisers from around the state. HB 156 would:

• Allow for the Louisiana Real Estate Appraisal Board to create an appraisal peer review mentoring committee,
• Allow this committee to aid the board in reviewing appraisals on an as needed basis and be able to mentor and educate appraisers on how to improve upon their appraisal techniques.

View current text of HB 156 (PDF file).

Both bills have been received in the Senate and assigned to the Committee on Commerce, Consumer Protection and International Affairs. Meanwhile, HB 852 by Representative Badon - which would require hands-free devices used with cell phones while driving a vehicle – narrowly passed the full House and also moves to the Senate. LR is opposed to an all-out ban of cell phone use in a vehicle while driving, and will continue to monitor HB 852.

Please remember that LR’s state legislative bill tracking grids, which provide info and direct links to real estate bills being promoted or monitored by LR are available for download here. For more information, please contact Norman Morris at 800-266-8538.

 
Commercial Negotiation Course with Michael Lipsey, May 7 – Only $25 for REALTORS
Attention commercial practitioners! One of the top commercial instructors in the nation, Michael Lipsey, will present "Negotiating for a Win-Win Result" next Wednesday, May 7 at the Lake Charles Racquet Club.

Louisiana REALTORS, in partnership with the Southwest Louisiana Association of REALTORS, is excited to present one of the most innovative courses available for the real estate practitioner at an unbelievably low rate of $25 for REALTOR members.

This course was developed to specifically address the day-to-day issues facing the practitioner during real estate negotiations. The interactive and high-energy format provides takeaways that can be implemented immediately and will radically improve a practitioner's ability to better represent the client through negotiated settlements. Our program discusses the dozens of negotiating opportunities in every transaction. Whether a buyer, broker or seller, the participant will leave the negotiating table satisfied. See complete details and register online now.

 
Senate Removes GO Zone Deadline
The U.S. Senate passed a bill earlier this month to eliminate a construction start deadline for GO Zone tax incentives. The bill, sponsored by U.S. Senators Mary Landrieu, David Vitter, Thad Cochran and Roger Wicker, eliminates the requirement that construction of commercial properties and residential rental properties had to start by Dec. 31, 2007, in order for businesses to qualify for a bonus depreciation. The deadline for completing construction still remains the same. "This measure simplifies the GO Zone rules to make it clear: economic recovery is not about when first shovels go into the ground, it is about when doors can open for business," says Landrieu, a New Orleans Democrat. The measure was included in a bill aimed at providing relief to homeowners affected by the mortgage crisis. A joint House-Senate conference committee will take up the measure. (Baton Rouge Business Report)
 
NAR Economist Reports on Office Space
The office market on a nationwide basis has seen little over-building, and while it takes a while from “hole in the ground” to occupancy, lots of office space is being built. Some markets with new product coming online this year don't have sufficient demand to absorb the anticipated space, a new NAR analysis shows. Check out what's happening in other markets in NAR Senior Economist Scott MacIntosh's article at REALTOR.org.
 
Commercial Mortgages Still in Good Shape
Delinquencies in U.S. commercial mortgages have risen slightly this year, according to the Commercial Mortgage Securities Association (CMSA). But for the most part, the market is in good shape. The current delinquency rate is about 0.4 percent, up from 0.25 percent during the final quarter of 2007. The trade group says delinquencies could reach 1.5 percent to 2 percent before the end of the year.

That’s still low compared with residential mortgages, and compared with commercial mortgages historically. The worst delinquency rate was in 1992, when it averaged 7.53 percent. Fitch ratings on Tuesday said that situation is unlikely to be repeated.

"The commercial real estate markets are not facing the same significant oversupply that plagued the markets in the late eighties and early nineties, plus tax treatment of commercial real estate projects has been relatively steady," Fitch Managing Director Bob Vrchota said in a statement.

CMSA President Lee Cotton, complained that investors misunderstand the situation and consider securities connected to commercial lending tainted by the same problems facing residential mortgages.

"We are saying, stop. We've got 40 basis points of delinquencies. We've got in-balance markets. We've got sophisticated borrowers. We are not the same business," he said. (Reuters)

 
The Declining Dollar: Warning or Opportunity?
For commercial practitioners a weak dollar makes property more attractive to foreign buyers, but it may also push up interest rates, making an already tough lending climate even tougher. Read how the dollar’s performance may affect the commercial market in the Winter REALTORS Commercial Alliance report, now online (PDF file).
 
CommercialSource Online Convention Scheduled for June 17-18
The National Association of REALTORS is conducting its annual “virtual” commercial real estate convention and expo on June 17-18. Registration is now open! The CommercialSource convention gives commercial REALTORS a FREE opportunity to listen to educational presentations, gather resources and network with other practitioners from all over - from the comfort of their home or office. Hear presentations from top industry thought leaders, and visit exhibitors offering the latest technology and learning tools geared to commercial brokers and agents. Registration is free and participation enters you into drawings for prizes like $100 gasoline cards! To register, visit www.commercialsource.com.
 



This week's REALTOR® events and activities...

Sunday Monday Tuesday Wednesday Thursday Friday Saturday
View all events for this day
View all events for this day
View all events for this day
View all events for this day
View all events for this day
> 4 Hours CE "How to Sell HUD Homes"
View all events for this day
View all events for this day

VIEW FULL LR CALENDAR


VIEW eNEWS COMMERCIAL BACK ISSUES ARCHIVE


If you would like to receive eNews Commercial via email, enter your email address below.



To unsubscribe, please send an email to remove@larealtors.org.
For advertising or sponsorship information, please contact Kevin Calbert at 1-800-266-8538.


REALTOR Commercial Alliance

 

Copyright Louisiana REALTORS® Association. All rights reserved. 1-800-266-8538