How has the Commercial Real Estate Market evolved in the years you’ve been in the business?

The sophistication of the investor has definitely elevated with the level of information readily available through technology.  Brokers have to advise their clients, not just make an introduction and then ‘wait to collect a check’. This has set all of us at Kursch Group apart from competitors: we have focused on building solid client relationships and adding value through deeper knowledge of the market as it effects the High Desert region.

What did you learn during the last market cycle that you will apply to this cycle?

I have learned the value of tracking and studying the core markets as they are the best indicators of how the tertiary markets, including the High Desert, will respond within a period of the market cycle.  I am studying extensively to stay ahead of the High Desert market and to best advise my clients of what may come.  I watch the ‘flow of capital’ to position my clients well in the key opportunities that arise as the market continues its upward trend.

Has there been anything unique to this cycle that you’ve seen taking place?

Approximately 5-10 well capitalized groups have acquired a majority of the bank owned assets over the past 5 years whereas previous cycles had a shelf life of REO assets that drove values down and held steady for a number of years.  The lenders have done well in preventing further decreases in value by slowly releasing any foreclosed assets onto the market.  There are fewer entities that control the majority of the residential land plays which allows them to control the pricing appreciation by withholding a sale till they see market values increase.