The Pew Center on the States released its report, “The Geographic Distribution of the Mortgage Interest Deduction,” on April 20, 2013, which can be found at http://www.pewstates.org/research/reports/the-geographic-distribution-of-the-mortgage-interest-deduction-85899471375.
The State of Delaware is known for its refusal to impose a sales tax, and only Delaware, Alaska, and Montana have no state or local sales taxes at this time.
I have been unable to grasp the reasons why lenders in my market are not lending for commercial real estate transactions. I hear that lenders say they are lending, however, you have to know that there are distinctions in property types, and some property types are eligible for loans, and some simply are not.
I was fascinated to discover how our State Treasurer, Chip Flowers, plans to re-arrange and expand his office in a March 30, 2011, News Journal Newspaper opinion entitled, “State Treasury Must Put Delaware Citizens and Businesses First.”
As a Certified Commercial – Investment Member (CCIM) of the Commercial – Investment Real Estate Institute of the National Association of REALTORS®, I possess one of the most prestigious designations offered to REALTORS®, which is one of the toughest to earn. There are a series of educational programs with tests to pass, there is an experience requirement which includes a dollar volume of transactions, there are demonstration reports, similar to case studies, from your transactions to present demonstrating your knowledge of the practices learned, and then there is a comprehensive final exam.
Of all the changes that have occurred in the real estate brokerage and management business during my 30 – plus – year career, the goal of marketing properties to the largest number of prospects has never changed.
Deficit reduction is the new topic of debate for the American economy. If you are a Democrat, it seems, you are mad because some rich people at the top of the tax bracket did not get a tax rate increase, and got a break on the estate tax rate, and the deficit will continue to climb. If you are a Republican, it seems, health care reform was not repealed, so the deficit will continue to climb. At least both parties agree that the deficit is going to continue to climb.
December 1, 2010, was the date that The National Commission On Fiscal Responsibility And Reform arrested the headlines and diverted the national debate from the extension of the Bush tax cuts to, “The Moment of Truth” report, deficit reduction recommendations.
We have listed the Caine Bay Road Properties for sale. There are two commercial land parcels which can be assembled into an approximately 6.5 acre parcel, and which can also be assembled to two other properties, creating an attractive development parcel in the Dover and Kent County market.
The state of Delaware is working on innovative and practical ways to spur economic development in the current non-recession recession. Our statewide unemployment rate hovers around 10 percent, although I personally believe that estimate is somewhat low since it is apparent that many in the work force population have simply given up looking for work.
Since the credit crisis of 2008, financing for real estate acquisitions has been squeezed tightly as banks struggle to contain risk amid falling real estate prices. The end is not yet in sight.
Financing real estate occupancy through leasing is a wise investment. Not only does the business enterprise preserve capital for the operation of its business, but many attractive properties become available. The three key features, as they say, of real estate are location, location, and location. Theoretically, all of the best locations are already acquired, and not for sale. However, many of these great locations can be leased, so the organization not only acquires a great location, but preserves capital wisely, as well. McGinnis Commercial Real Estate Company is pleased to announce its representation of McKown Holdings’ property at 30 Old Rudnick Lane, fronting Webbs Lane, in South Dover, Kent County, Delaware. The office space is 6,019 square feet, on the first floor, and is fully improved with offices, conference rooms, and furnishings. The property is ideally located off of South State Street around the corner from U S Route 13 and the South Dover SR 1 Interchange. The rental rate is $15.50 per square foot, plus utilities, maintenance, taxes and insurance. There is more information about this offering on our website. McGinnis Commercial Real Estate Company can accommodate all of your real estate needs.
The goals of commercial property occupancy vary with the goal of the business enterprise. Typically, real estate occupancy is a cost of doing business, just like advertising, telephone and internet usage, salaries and wages, and other expenses. Purchasing real estate ties up capital that could best be used by management to operate the core business of the organization. There are tax advantages to renting real estate, as the rental payments are deductible against the income generated for income tax purposes. The ideal benefit of renting the real estate for the business enterprise is that a huge investment of capital for equity is not required. In this market, equity requirements are a minimum of 20 percent, and typically 25 to 30 percent of purchase price. Then there are closing costs, adding as much as five percent more to the capital requirements. The capital requirements for rental real estate are typically the first monthly rental payment, and a security deposit. Often the improvements required by a tenant can be financed and paid over the term of the lease. The business enterprise then retains capital to operate its business. To illustrate, even real estate brokerage firms are not in the real estate business, they are in the brokerage business, so renting office space provides the optimum use of its capital. McGinnis Commercial Real Estate Company has a number of office lease listings which would accommodate a variety of business needs, such as professional office space requirements for physicians, and general office space requirements for accountants or insurance agents. We also have flex space which includes shop and warehouse areas together with smaller office areas for contractors. McGinnis Commercial Real Estate Company has commercial lease opportunities in every price range, and in every location in the market area. For your office leasing needs, call on McGinnis Commercial Real Estate Company.
Real estate investment, like any investment, involves fundamental theories and techniques to succeed. Most investment vehicles offer return on investment, and return of investment. But in today’s investment market, even return on and of investment is risky. No other type of investment offers as much to the investor as real estate.
Many real estate investors do not consider that investment value is maximized through the employment of professional property managers. The professional property manager plays a very important role in the performance of the real estate investment. The professional property manager can offer a variety of services, and levels of service, in tailoring a fee to meet the needs, and the goals, of the investor. The investor needs to consider that maintenance calls come at all times of the day, even late at night. Property managers who have relationships with maintenance contractors can typically achieve a lower cost for services than the individual investor can. Reactions to market changes will always occur faster with professional property management. So real estate investors will reduce overall costs by adding professional property management, and will increase property values and maximize wealth. McGinnis Property Management has been managing all types of real estate for more than 25 years. We are happy to discuss the real estate investor’s needs and goals, and tailor a fee for specifically for any real estate investor.
Investing in real estate is an important component to any investor’s portfolio. While the real estate market is notoriously under-performing at present, it is the most opportune time to invest. Mortgage rates are historically low. Cap rates, an important measure of investment real estate pricing, are creeping up, lowering prices. So lower prices and lower financing rates equals bargains for the astute investor. Investment real estate comes in many varieties. Retail properties, office properties, industrial properties, even residential properties all offer outstanding opportunities. Downtown Dover even offers mixed – use properties, which include both residential and commercial in one building, offering investors an even broader market for rental opportunities. McGinnis Commercial Real Estate Company offers guidance on investing in all types of properties. A review of our website will illustrate the investment properties we currently offer. And as a member of the MLS, we can assist you in investing in properties offered on the market listed by other brokers.
McGinnis Commercial Real Estate Company specializes in non – residential real estate, however, we broker a wide variety of properties in the local market area, including residential investments. The Raubacher 27 West Loockerman Street Property is unique in that it is a mixed – use property, with commercial us on the ground floor, and multi – family residential use on the second and third floors. This type of property appeals to a broader market of investor because leasing potential crosses two markets. The Downtown Dover location is attractive to residential tenants because they can walk to work, walk to recreation, and walk to entertainment. The commercial component, currently a fully – equipped restaurant, is located close to the government offices of the city and state, and close to the legal community surrounding the Green and world – famous Delaware courts. All property details are contained on the website.
McGinnis Commercial Real Estate Company is proud to announce that we have listed the Braun Properties LLC property located at 429 South Governors Avenue in Dover, Kent County, Delaware, for sale. This property is unique in that there is a 4,096 square foot, two – story frame office building, and there is also a half – acre vacant site available for expansion of the existing building, or development of a new building. The vacant site fronts Water Street. The office building was renovated in 2007, and has numerous features including zoned HVAC, built – in cabinets and counters, and other such features. We can arrange a showing of this property at your earliest convenience. You can download a property profile for this property under the Office Sale properties tag from the home page.