Unfortunately, the office, commercial and retail sectors are all now being hit by the same downturn as the housing sector.  Florida is looking at an almost 16% statewide vacancy rate (source: Florida Trend).  If you have empty space, you have already felt it.  Each Economist has their own predictions as to when it will come back, level out, etc…..we will only know which one is right when it is over.  Unfortunately, that is the problem with economic predictions. 

While reading the article, “Where’s the Bottom?” in the January edition of Florida Trend, I saw  a nice chart detailing vacancy rates across the state and thought I would share it with you.  No, I am not doing it to depress you, just to give you facts.  It is the wise business person that takes the information, changes the strategy and succeeds in a down market.

At a lunch meeting the other day, the President of the St. Lucie County Realtors Association spoke about our local housing market and the news was good!  He stated that the absorption rate in the area had decreased from 41 months (Yes, almost 4 years!) to around 20 months. THAT IS GREAT NEWS.

We have to start moving the inventory to be able to recover from the housing mess. This is a good first step in the right direction.  Sales are also up 14.66% year-to-date compared to the previous year.  Of course, the sales are up because of the exceptional prices.  I have heard people say that our lifetime will never see pricing levels as low as they are today, for our economy’s sake I hope so too. 

With the good, comes the bad.  The sales are up and absorption rates are down, but what that translates into is lower prices.  We are in a buyers’ market and if you are buying, GREAT!  If not, hold on to your property, if you can. 

The pricing also translates into more opportunities.  Future developments, conservation land, education and infrastructure all cost less today than 3 years ago.  In fact, the Port St Lucie News reported that Torrey Pines Institute in Port St Lucie, FL came in almost one million dollars less than anticipated.  The opportunities are endless.  So, instead of allowing the media to focus on all the bad news, let’s focus on the opportunities available and help move forward.

I don’t know about you, but I spend an awful lot of time trying to find information for our clients. Just in the last few weeks I’ve had to track down…

• The land development code for a city three hours away from my office.
• The wetlands and soils for a large acreage property.
• The public meeting dates for a city zoning board.
• The permit application for county we had not worked in before.

These four simple requests burned up SIX HOURS of my time. The truth is I hate doing this kind of research. It’s both BORING and TIME CONSUMING.

I’ve got two young daughters who think I’m the King and they’re my princesses…I’d rather be ruling my kingdom than doing the jester’s task…research.

And I know I’m not the only one in this business that feels that way. So last month we decided to do something about it.

We put all of the information that we go looking for (and you probably do too) into one easy to access place. In fact, we decided to do it for all of Florida. AND, we decided to put it on the web for you to use.

The Land Development Resource Center is Born!

On our website you can now find…

Links to city and county land development agencies.

Land development regulations.

Permit and development applications.

Local council and board meeting schedules.

Articles on land development topics.

Free reports to help you understand more complex issues.

Maps showing aerials, wetlands, soils, flood zones and contours for every property in Florida.

Audio interviews with leaders in the industry.

Monthly webinars on important land development topics

And much more to come…

We began the Land Development Resource Center as a resource for ourselves; We hope that by sharing it with you, that you’ll save time and frustration…

…AND spend more time in your kingdom!

To use the Land Development Resource Center go to:

1globalmind.com/resource-center/

In the July 2008 issue of Sustainable Land Development Today is an article by Dan Beardslee titled How to Hire a Competent Surveyor. Dan makes a number of outstanding points that parallel our own white paper The Land Developer’s Guide to Working with Surveyors. Dan makes two great observations that those of us in the profession know well:

1. It’s not easy to tell the difference between a good and bad surveyor.
2. Good surveys and bad surveys often look the same.

Why is it so hard to judge the good from the bad? Simple, good quality is not about appearances it’s about the experience, knowledge and behavior of the surveyor you choose.

Dan’s article lays out five key points to consider in hiring a surveyor.

1. Is the Surveyor Licensed by the State?

All 50 states and several US Territories require individuals and companies that provide surveying services to be licensed by the state. State licensure typically requires three components

1. Education
2. Experience
3. Examination

Florida is on the leading edge of the current industry trend of requiring surveyors to hold at least a bachelor’s degree in surveying. However, only about 10 percent of the licensed surveyors in Florida have a degree or any formal surveying education (the other 80 percent have been “grandfathered” or allowed to continue their existing practice). College educated surveyors have a distinct advantage in today’s technology driven survey industry.

Dan’s article focuses on the qualifications of the licensed surveyor. While these are very important, surveyors have largely become managers of the survey team—field and office technicians who actually perform the work. For that reason it is vital that you look at the qualifications of the entire team. The National Society of Professional Surveyors certifies the competence of survey technicians through the “Certified Survey Technician” program. Find a firm that requires their staff to be certified.

2. Is the Surveyor a Member of the State Surveyor’s Association?

As a past-president of the Florida Surveying and Mapping Society, I’m a big believer in professional involvement. During the 12 years I served as a volunteer in the association it was clear that the men and women I served with were among the best in the industry. Look not just for membership, but active involvement as an indicator of professional expertise.

3. Does the Surveyor Appear Competent?

I know I said that it’s not about the appearances. It is impossible to differentiate based on appearance alone, but they can be an indicator of the professional’s own values and business expertise. Use appearance as one factor of many.

4. It’s Important that the Surveyor Operate a Strong Business

I couldn’t agree more. Many surveying firms are “one-man-shows.” While I have no objection to a professional who chooses to practice alone, I worry about the clients who are relying on him. I’ve seen real money lost by clients when sickness or even death prevent the surveyor from completing the work. I detail one such real-life story in my white paper.

5. Are the Services Expensive?

Dan’s final point is to look at the cost of the service. While you certainly want to get the best value for your dollar, Dan (and I) believe that the old rule “you get what you pay for” applies to surveying as it does to every thing else. You don’t need to hire the most expensive firm, but the cheapest one may not be right either. A secondary point here, is to ALWAYS use a written contract. Many surveyors do business on a handshake.

While I think a handshake is a great sign of trust, I also know that communication between people is hard. A contract is a simple way to lay out in plain language what the surveyor will do, what he won’t do, what you’ll do and how much it will cost. Getting written proposals from surveyors also gives you a chance to see exactly what each firm will do for you. It will help you compare real costs.

I’ve got a number of other recommendations in my white paper The Land Developer’s Guide to Working with Surveyors it’s available for free by clicking here.

I’d love to hear your successes and challenges in hiring and working with surveyors. Please leave a comment below.

Listen Online:

Download in MP3 format.

In this episode of the Florida Real Estate Development Podcast, we talk about a recent article about the poor performance of the real estate sales force. To talk about how you can improve the effectiveness of your sales efforts–even in today’s market–we brought in Greta Schulz of Proactive Training and Consulting.

Greta  is the president and CEO of ProActive Training and Consulting. She has been involved in sales, sales management, marketing, and training for over twenty years. She is a columnist in many business publications around the country and a contributing author of  “Masters of Sales” a Wall Street Journal and New York Times Best Seller. Greta is presently writing her own book titled “To Sell is Not to Sell”, a conglomeration of stories and tips in the world of sales.

I hope you enjoy the interview!

In this episode, I interview Tom Wheatley, Vice-President of Business Development at Flagler Bank. Tom talks about the current state of the credit market, what projects are getting funded and how to best approach lenders now.

A new way to search for land is here - Tycoon

With Tycoon you can:

1. Get an overview of the regulatory environment in each covered county with links to local land development code, regulatory agencies and general statistics.
2. Search for land based on criteria such as size, percent wetland coverage, zoning and current & future land use. We are not a listing service. We allow you to find land that meets your criteria—listed or not. You can save your favorite properties.
3. Locate local development experts from engineers and planners to attorneys, lenders and contractors. Tycoon will help you find the team you need to do the deal.

All of this is available to you for free(1). We’d love to hear your thoughts on the struggles you face in getting solid land and regulatory information.

(1) internet charges may apply

After yesterday’s market surge, many were quick to say were are not in a recession, nor are we headed for one. Then, the pending home sales numbers were released, the lowest numbers in 6 years (Pending Home Sales Hit 6 year Low)!

On the way into work this morning, I was listening to CNBC. CNBC reporters were talking about how the market surged on Monday and what does it mean. Many people speculated that we are not in a recession and that Monday’s gains were an indication of that.

Basically, we have not hit the bottom of the housing slump, we have more to go. I have heard some predication’s are now out to 2010, others say 2008-2009. I feel like everyone is mimicking Chicken Little and running around talking about the sky falling.

What we should be doing is working to stimulate growth in the areas we can. This is a GREAT time to buy or invest in the real estate market. Just like investing in the stock market, buy when it is down.

Please leave your comments on what you think about the “sky is falling phenomenon.”

Introducing Tycoon, the free site that allows users to search for land based on criteria such as parcel size, wetlands, current or future land use and zoning.

In my previous post, So you want to develop land?, I introduced how GIS can help search for land. Since we are so crazy about GIS and the wonderful things it can do, we decided to create a website that helps developers and investors find land.

Tycoon is still in development, but will be available in October. To stay updated on the latest developments, sign-up at www.BeaTycoon.com.

Where do you begin? If you are new to development or new to a geographic area it can be a daunting task to find property.

In the past, developers or investors have found property through brokers, colleagues or by driving.  Advancements in technology, GIS (geographic information systems) combined with aerial photography, allow developers to search for land from their computer. 

How is this possible?  To make a long story short, many government agencies have moved their information on-line.  Everything from court records to property records.  The information is great, but searching the information can be difficult.  The only available search options are by parcel number, owner name or address.  Most often, when looking for a property, I would only know the characteristics I am looking for in a property: size (acres); general location (city) and zoning.

So, how can GIS help me find land?  GIS is an excellent tool for inputting criteria and obtaining results.  I could do the same thing in a spreadsheet document, but viewing data on a map is much easier.  To find the land I need, I would enter my search criteria in the area I want to search, say Polk County, and view my results either in tabular format or on a map. The map is important because now I can see what other buildings, subdivisions or roads are near the parcel.  Before GIS and aerial photography this was only accomplished by taking a trip to the location.  Think of the time saving potential!