President's Letter
By Jim Lambrecht, MiCAR President
Lambrecht Properties, Inc., Bingham Farms, MI

I was pleased to see a number of MiCAR members at MAR’s Convention & Expo last week in Grand Rapids. It was a great opportunity to network and reconnect with members. The commercial focus, which included a luncheon and reception, was well attended, and there was a positive vibe throughout the entire convention. On behalf of MICAR, I would like to thank BuyLeaseBuild magazines, The Commercial Alliance of REALTORS® and the MEDC for their support in sponsoring the commercial events at this year’s convention. I hope all MiCAR members will mark their calendars for the 2007 MAR Convention & Expo taking place September 26 – 28 at the Soaring Eagle Casino & Resort in Mt. Pleasant.

Another exciting upcoming event is the general election happening on November 7th. About 90 percent of MAR’s 33,000 plus members (which includes MiCAR) are registered voters. That means we have a chance to make an impact at the polls. Throughout the year, the MAR public policy staff has been working diligently with the local associations, as well as NAR, to ensure REALTOR®-friendly lawmakers and proposals receive our support. Prior to the election you will receive a mailed postcard with the endorsed candidates and proposals. Please read this over carefully, as well as the November issue of the Michigan REALTOR® magazine, together we can protect the real estate industry. More information can also be found at the MAR Web site.

Again, thank you for your support at the MAR Convention & Expo and remember to go vote on November 7th.

top

Most Commercial Sectors Continue to Improve

Most commercial real estate markets can expect tightening vacancy rates and rising rents, and large investors are pouring funds into commercial sectors, according to the latest Commercial Real Estate Outlook of the National Association of Realtors®.

David Lereah, NAR’s chief economist, said most commercial market fundamentals are solid. “Commercial real estate markets move in response to changes in fundamental demand, which remains solid as a result of sustained job creation and economic growth,” he said. “Except for some weakness in the retail sector, the commercial market is benefiting from lower vacancies and higher rents.”

Institutional investors have been very active in commercial real estate this year. “Large institutional investors such as pension funds and life insurance companies are considered to be cautious and risk adverse, so their shift of funds into commercial sectors is an affirmation of the wisdom of diversification in commercial real estate,” Lereah said.

Read entire story here

top

Commercial REALTORS® Find Value in
MAR's Convention & Expo

MAR’s 2006 Convention & Expo once again featured a commercial focus. This year’s track was full of educational sessions, continuing education opportunities and social gatherings.

Nationally known Jim Gillespie headlined the commercial focus. His session, entitled How to Become the Listing King in Your Territory was approved for three hours of continuing education credit. Other commercial speakers were Doug Brown of ASTI Environmental and Jeff Ammon, whose session was approved for two hours of continuing education credit. The commercial focus was sponsored by BuyLeaseBuild magazines.

Commercial attendees also enjoyed a luncheon that was sponsored by the Michigan Economic Development Corp. and a networking reception sponsored by the Commercial Alliance of REALTORS®.

Mark you calendar for next year’s event in Mt. Pleasant taking place September 26 – 28 at the Soaring Eagle Casino & Resort. Complete with a spa, Soaring Eagle is a luxury destination that also features fine dining options as well as exceptional guest accommodations.

See more convention highlights here.

Take the 2006 Convention & Expo online survey.

top

MAR Endorses DeVos and Bouchard

The Michigan Association of REALTORS® has announced its endorsement of Dick DeVos for governor.

“It is with great pride and pleasure that MAR is endorsing Dick DeVos for governor,” said Cathy Sherman Bittrick, MAR president.  “We are confident that he will do the same for the State of Michigan as he has done for our wonderful City of Grand Rapids.”

 Mr. DeVos recently addressed the REALTOR® members at the MAR Convention & Expo. This week, the MAR RPAC made the decision to give DeVos the MAR endorsement. Gov. Granholm declined a candidate interview with the MAR RPAC Trustees and did not submit the alternative candidate questionnaire.

The Michigan Association of REALTORS® in conjunction with the National Association of REALTORS® Political Action Committee (RPAC) have announced that they are both endorsing Mike Bouchard’s candidacy for the U.S. Senate.

Bouchard currently serves as Sheriff of Oakland County, where he oversees 1,200 employees and manages an annual budget in excess of $119 million. Sheriff Bouchard brings the combined experience of 18 years of law enforcement and 18 years as an elected official to the position. Prior to becoming Oakland County Sheriff, Bouchard served as a State Senator from 1991 - 1999. During his time in the State Senate, Bouchard was elected by his colleagues to serve as Assistant President Pro-Tempore (1991-1994), Assistant Senate Majority Leader (1994-1998), and Majority Floor Leader (1998-1999). Bouchard also served in the Michigan House of Representatives (1990) and at the local level as President of the Beverly Hills, Michigan Village Council.

For more information regarding the 2006 Michigan general elections visit the MAR Web site.

top

Award-Winning Resource for Commercial
Real Estate Practitioners

Did you know that NAR's Information Central offers a collection of electronic books and digital audio books just for REALTORS® through the Virtual Library eBooks Collection, at REALTOR.org? NAR members can "borrow" up to three eBooks at a time, at no cost. eBooks automatically expire after the specified loan period, so there are never any late fees! Special titles of interest include Commercial Real Estate Investing (2004), The Tax-Free Exchange Loophole (2005), and The Complete Guide to Real Estate Finance for Investment Properties (2004). But the collection also includes eBooks on sales & marketing, business management, technology, finance, and personal growth. Visit eBooks.realtor.org to take advantage of this award-winning digital collection.

top

MiCAR Monthly
October 2006

• President's Letter

• Most Commercial Real Estate Sectors Continue to Improve

• Commercial REALTORS® Find Value in MAR's Convention & Expo

• MAR Endorses DeVos & Bouchard

• Award-Winning Resource for Commercial Real Estate Practitioners