Some developers are building again, prodded by increases in buyer traffic at model homes and an uptick in sales over the fourth quarter of 2011 and the first months of 2012.
The Capital Region’s commercial real estate market in the past five years has shifted from a system dominated by a few big brokers to a diverse pool of smaller offices and team players. As post-recession business gains steam, that market is being eyed for its unplowed territory.
Ted White has worked in residential property management in the Sacramento area for more than three decades. He gloried in the boom times and helped homeowners and investors slog through the murky waters of the ongoing real estate meltdown in one of the hardest-hit housing markets in the nation.
Jeff Michael, 42, is the director of the Business Forecasting Center at the University of the Pacific.
Brian O’Hearn is an accidental landlord.
Like more and more homeowners caught in the descending mortgage spiral, O’Hearn and his wife, Juliet Williams, faced tough choices. Married in June, they owned his house in Folsom and her Sacramento condo — and both wanted to live in midtown.
Stan Atkinson could be described as a homebody these days. It’s not that he doesn’t like to go out occasionally, but Atkinson, like many other aging Americans, would prefer to stay in his home as long as possible.
Parts of the Capital Region are experiencing the hopeful signs of recovery, partly due to the re-emerging health of its eastern neighbors.
Some said it would never happen. We have bobbed and weaved around building a new sports and entertainment complex for more than a decade.
The Capital Region’s industrial real estate market is bouncing along the bottom, but local brokers are cautiously optimistic that signs are pointing to a steady, albeit slow, recovery this year.
In the Capital Region, it’s up to each county to reel in recovery by marketing to businesses that stimulate economic growth.