Friday, July 19, 2013

Uniquely Qualfied To Evaluate Commercial Property in Gaston County

Two disclosures are required before we start this post. First the headline says evaluate and not appraise. Evaluate means under a Broker's Opinion as defined by the North Carolina Real Estate Commission. Secondly I am not promoting our services as Engineering or Architecture but rather as an experienced Contractor.

Being licensed as an NC Real Estate Broker I have the qualifications to provide real estate services and the understanding of the transaction process. I don't have to be your Broker to aid you in navigating the process.

Licensed as an Unlimited NC General Contractor with the specialty designations for Building, Highway and Water/Sewer Utility Lines I can evaluation the condition of a property based on over 30 years of experience in industrial and commercial construction.

We can combine these two disciplines into an evaluation of a property during your due diligence period. Providing you with a review and report before comitting funds and proceeding toward a closing.

Let us work with you to insure you have the information you require to make knowledgeable real estate investments and decisions.

Friday, July 12, 2013

Rising Commercial Rent Rates in Gaston County

Seems inevitable commercial rent rates will rise in 2013. What the reevaluation of 2014 brings is anybody's guess but I would bet on higher valuations from 2007 base even with the 2008 meltdown.

Why you ask will rates rise in 2013 before the Reevaluation of 2014? The first factor is the over 3 cent increase in the County Tax Rate passed in June.

Just this week the City of Gastonia Utility Committee voted to raise the City Storm Water Fee from $2.75 per unit to $3.25 per unit or about 18%. The County Tax Rate vote has been held but the full Council has not yet approved the Storm Water Increase.

I would like to raise the following points on the Storm Water Fee increase.

First this action is being taken just after adopting the Budget. Where was this item at Budget time? Other utility fees were increased during the Budget why was this one left out?

Second in January of this year a Federal Judge ruled the EPA cannot regulate storm water. The full effect of that ruling has yet to be felt and yet here in Gastonia we are raising the fee for what may be regulations that have been struck down.

Article 1 on Ruling

Article 2 on Ruling

It is the EPA Phase II mandates that created the need for the Storm Water Department and so the fees. If the EPA cannot mandate Phase II then we have no need of higher fees and perhaps not a separate Storm Water Department. Roll this back to Engineering Staff. The County already does the Plan reviews and approvals at Natural Resources in Dallas.

Whether a fee or a tax increase right now just as things seem to be coming off the bottom is not good economics. Business needs time to get the wheels going at acceptable levels again and any increase in burden is working against that.