Commercial Real-estate Business Market Developing-USC

 

The office and business of real estate sectors continue to pick up for Southern California landlords, a statement said, but high office vacancy will remain general for the foreseeable future as businesses put extra workers into fewer space.

The regional economy have strengthened the past year and enabled some businesses to employ more workers, according to USC’s annual Casden office and industrial property auction forecast. That has resulted in superior occupancy and increasing rent for industrial buildings, while office landlords are considering rising tenancy and smaller declines in the quantity of rent they can charges.
 

Top real estate market news of 2011

Before we get too far into 2012, let's take a look back at some of the top real estate market news of 2011:

January 2011. A biggest news at the beginning of 2011 was what happened in 2010: It was a record year for foreclosures. Realty Trac's 2010 Year End U.S. Foreclosure Report showed roughly 1 million homes that's one in every 45 for the foreclosed on in 2010.

March 2011. The coreLogic released data indicating U.S. homeowners had a massive $750 billion in negative equity in the top five states for underwater mortgages included Nevada, Arizona, Michigan, California and Florida to a states still continue to struggle, with high foreclosure rates resulting in lower home sale prices across the board.

April 2011. A Office of the Comptroller of the Currency (OCC) announced it would proceed with mandatory enforcement actions against eight mortgage servicers  including Citibank, HSBC, JP Morgan Chase, MetLife Bank, PNC, U.S. Bank, Wells Fargo and Bank of America.