28. January 2010 by Christi Reece.

I  just returned from the quarterly Grand Junction Area Realtor’s Association luncheon, where the speakers were all very positive about the future of the Grand Junction real estate market. Rob Griffin, President of the local Home Builders Association, spoke about low building costs, low land costs, and availability of builder and subcontractors, making this an ideal time to build a new home. He stressed that builders are going to have to change the way they have built in Grand Junction, stressing, as I have been, the need to build energy efficient homes!! He believes that energy efficiency will be mandated by the government before too long, so it’s time for GJ builders to get on board! If anyone out there is considering building, call me. I have worked with some great builders who know how to build a superior home.The second speaker was Ann Driggers of the Grand Junction Economic Partnership. She had some great information and statistics, in addition to a positive outlook for GJ. So even though 2009 was not what we hoped, GJ is now a much more attractive place to start a business, since there are more workers available, wages are down, and land costs are down. She is very optimistic about bringing new businesses to this area. American Furniture Warehouse is one example of an established business seeing the opportunities to be had in our valley. Cabela’s is also coming in soon.Colorado Realtor Association President George Harvey also spoke, and said we are seeing  a lot of investing going on in Colorado. Low prices and high availability are driving outside buyers to take another look at Colorado.I’ve said it before, but I want to keep emphasizing to all our clients that 2010 is going to be a great time to buy real estate. Ten years from now, you’ll be saying “I wish I’d bought that property back in 2010, when it only cost…”. Don’t say I didn’t tell you!Christi

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9. January 2010 by Christi Reece.

I am excited to announce that I have just become a member of a real estate team here at Bray Real Estate. I have joined Linda Gilmore and Kelley Burford, and we will now be known as the Gilmore-Burford-Reece Team. Linda and Kelley are both Grand Junction natives, and have become household names in Grand Junction Real Estate. Linda has been selling for over 20 years, and Kelley for over 7, after a lengthy career in banking. With our combined experience, market knowledge, and sales records, we will ready to help you buy or sell your Western Colorado Real Estate!

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9. January 2010 by Christi Reece.

This article from Bruce Buckley is from the Mountain States Construction website. We’re looking forward to some renewed building activity in 2010.

After three years of declines, the construction market may be eyeing a rebound in 2010 thanks to a much-improved residential market, but for designers and contractors in other building sectors, it could be too soon to celebrate.

Bob Murray, vice president of economic affairs for McGraw-Hill Construction, speaking at the Outlook 2010 Executive Conference, told participants that the 2010 market will experience a slow upward climb.

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McGraw-Hill Construction is forecasting that total construction starts will climb 11% to $466.2 billion in 2010, following an estimated 25% decline in 2009.

After a 39% drop in construction between 2006 and 2009, an improving residential market and signs of strength in select public-sector markets such as transportation and infrastructure could spark an overall turnaround in 2010, says Bob Murray, vice president of economic affairs for McGraw-Hill Construction.

“This is not a booming market; it is just inching upward,” Murray says.

Single-Family Stability The main buoy for the industry is single-family housing, which could rise 30% from an estimated 430,000 units started in 2009 to 560,000 starts. That would be on par with 2008, when 549,000 units were started.

Murray says that even with the rebound, levels remain 65% below the mid-decade peak of the housing boom. Murray adds that his residential forecast hinges on continued low mortgage rates and the extension of first-time homebuyer tax credits.

The outlook on multifamily housing remains mixed. Murray sees activity rising from 140,000 units started in 2009 to 160,000 units in 2010—a 14% rise. Although the sector could rebound, activity remains nearly three times below 2007 levels when 452,000 units were started.

Ed Sullivan, chief economist at the Portland Cement Association, is less optimistic about multifamily projects. He predicts that a comeback won’t be seen until 2011.

Although 2009 was a challenging year, the worst is yet to come in nonresidential building sectors, analysts forecast. According to McGraw-Hill Construction estimates, the commercial and manufacturing sectors could continue to struggle next year with an estimated 6% drop in combined value of starts to $55.5 billion—nearly half the level seen in 2007.

Sullivan sees the market sliding even further, down 22% in 2010, and doesn’t expect a rebound until 2012.

“If you look at vacancy rates, the job market, issues with credit—the fundamentals will take a while to come back,” he says.

Murray estimates that office building starts will ease back another 3% in 2010 to $19.7 billion in starts, as employment remains weak and businesses curtail expansions.

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