Confidence. Momentum. Momentum in a market occurs when confidence expands; when the line at the door gets longer and the doorway gets much smaller. Credit worthy companies with growth can now get money easily from their lenders, albeit with a more rigorous review process. Listing inventories have declined and choices are fewer. Investors are getting pickier as prices rise. This reminds me of the mid nineties as we clawed our way out of a vicious real estate collapse - remember the FDIC satellite auctions? Multifamilies have been selling well, and new construction appears in this market segment; hospitality sectors rise - yes! They are building new hotels! Will 2014 bring the stampede like the late nineties? Will we have enough inventory or see more land development which has been missing for years? The saying "dirt is dead" will itself be a dead phrase, as demand seeks new areas. 2014 should be a good year for us all.
Accomplishments in 2013 for NH CIBOR and NECPE are many. We helped fund and launch the www.readysetgonh.com website. We increased the distribution outlets for members listings via media links and partnerships with business publications like the New England Real Estate Journal. We received grants to further our aims. Special thanks to our executive officer Allison Ropes who has organized a strong, effective administrative office for both organizations. Mark Dickey is the incoming president, and he is already taking charge in many areas of our work. Membership is rising again!
Watch our calendar for more training and networking activities, as we continue to set the lead for commercial real estate in New England. On a personal note, I thank all the members and associates who have helped make our organizations strong. It has made the president's job a pleasure.
Tom Duffy is the president of the New Hampshire Commercial and Investment Board of Realtors and the New England Commercial Property Exchange.
Tom Duffy, Prudential Verani Realty