2017 KICKS OFF WITH OPTIMISM FOR NEW US GOVERNMENT.
One of the key topics of discussion were the early signs for a positive economic start to 2017 as the new U.S. President prepares to take office. The stock market is up; the value of the U.S. dollar is strong; the NYC/NJ market is attracting record numbers of visitors, both domestic and international; and the country is primed for political change. Members of the Northern NJ REAL Professionals group speculated on the growth and continued strength of the U.S. economy and businesses over the coming months.
NYC REAL Professionals Member Ray Cirz, EVP of Valuations at Integra Realty Resources, was the guest speaker for NJ’s kickoff meeting of 2017. He summarized the state of real estate appraisals as well as recent real estate activity in the Garden State. Overall transactions and volume are down in all sectors – office, retail, hotel, multifamily, and industrial. The group discussed some of the reasons for this slow down as well as some of the signs for growth going forward.