What Are Opportunity Zones? Opportunity Zones , introduced under the Tax Cuts and Jobs Act of 2017 , are designed to promote investment and economic growth in low-income areas across the United States. By offering tax incentives, these zones encourage private-sector development, creating jobs and revitalizing underserved economies. Governors and state officials nominated eligible neighborhoods, …
Developers Tackle Housing Gaps with Condo Conversions Housing markets across the U.S. continue to face significant shortages. Developers in South Florida are addressing the issue with an innovative solution: condo conversions for affordable housing . By turning rental properties into for-sale condos, they fill critical gaps in the market while modernizing outdated inventory. This strategy …
Remote work is transforming office spaces across industries, particularly in commercial real estate. As businesses embrace flexible work models, the need for traditional office setups is diminishing, creating new opportunities for adaptable remote work office spaces. Decrease in Office Space Demand The rise of remote work has caused a notable decrease in office space demand. …
The commercial real estate market is facing a significant shift, with commercial foreclosures witnessing a startling 97% increase year-over-year, a situation that is prompting a reevaluation of investment strategies. From a commercial real estate advisor’s perspective, these statistics, highlighted by recent data from Attom, are not just numbers but a signal of deeper economic currents …
As a senior broker with years of experience navigating the dynamic waters of real estate, I’ve witnessed the transformative journey of many realtors who ventured from residential into the realm of commercial real estate (CRE). The transition can be both challenging and immensely rewarding. The purpose of this article is to demystify commercial real estate, …
