Commercial Real Estate & Business News – April 13, 2017

Since last November, small business owners have been feeling confident about their prospects, which could lead them to take on more office and industrial space as they expand, according to the National Federation of Independent Business' latest economic trends report...»

In the wake of growing uncertainty about the current commercial construction surge and multifamily supply glut, Federal Reserve officials have ordered banks to review the consequences of a potential commercial real estate crash, and report how they would fare if CRE prices dropped 35%...»

 

Collectively, Arizona ranks No. 14 among all states in the Cyberstates 2017 Innovation Score. The tally is based on an analysis of tech startups, new tech business establishments and new tech patents - electrical, computers, digital processing and data systems, information security, error/fault handling, semiconductor devices and telecommunications - granted by the U.S. Patent and Trademark Office on a per capita basis...»

In Phoenix, there were 2,895 foreclosure filings during first-quarter 2017. That is better than pre-crash levels of 5,322 foreclosures per quarter and well off the peak of the foreclosure wave, which happened during first-quarter 2010 when there were 45,198 foreclosure actions in the Phoenix market, according to Attom. The current level is down 94 percent from that peak...»

 

March was a great month for metro Phoenix. The weather was wonderful. Baseball's spring training was in full swing. And people flocked here to enjoy both. To close out the month, we also had basketball fans starting to stream into the Valley for the finals of March Madness. And some of those visitors checked out homes as well as the college championship basketball games...»

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