Commercial Absorption Rates – Prince William County – January 2012
Commercial Real Estate Absorption Rates for Prince William County are offered as a service of Michael’s Commercial LLC. The monthly absorption rates are categorized by the following Prince William County Zoning Districts:
B-1 (General Business District)
B-2 (Neighborhood Business District)
B-3 (Convenience Retail District
O(L) (Office Low-Rise District)
O(M) (Office Mid-Rise District)
O(H) (Office High-Rise District)
O(F) (Office/Flex District)
M-1 (Heavy Industrial District)
M-2 (Light Industrial District)
M/T (Industrial/Transportation District)
PBD (Planned Business District)
PMD (Planned Mixed Use District)
Absorption Rates are established by how many properties have sold during a given period of time (e.g., 365, 180, 90 and 30 days). Absorption rates also allow tracking trends in the market for any given number of days, weeks or months. These trends can indicate whether we may be in a Sellers Market, a Neutral Market or a Buyers Market. A monthly absorption rate of 5-6 is usually considered a Neutral Market. Anything below five is regarded as a Sellers Market and anything above six a Buyers Market.
Sellers Market 1-4 Months Supply
Neutral Market 5-6 Months Supply
Buyers Market 7 Plus Months Supply
The following tables reflect the Monthly Absorption Rates* for respective Zoning Districts in Prince William County ending on January 31, 2012:
Total Number of Properties on Market. The number of properties on the market during the reporting period.
Total Number of Sales. The total number of Sold properties during the given reporting period.
Monthly Absorption Rate. The rate at which the Sold properties were absorbed in the market on a monthly basis.
Inventory. The number of available properties as of the reporting date.
Months Supply. The number of months it will take the properties to sell based on the number of properties that have sold during the reporting period.
Chance of Selling. The rate at which the properties in the inventory will sell based on the percentage of the total properties on the market and the total number of sales.
The tables above indicate that the commercial real estate market in Prince William County has been minimal during this reporting period. There were no commercial property sales within the last 30 days. Eight commercial properties are currently on the market. There are four fewer properties on the market than reported last month. We are presently in a Buyer’s Market.
General Business District – Minimal activity – There was a decrease of four properties during this reporting period. Three properties are currently in the inventory.
Neighborhood Business District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
Convenience Retail District – No activity – No properties are currently in the inventory.
Office Low-Rise District – Minimal activity – No increase in the number of properties during this reporting period. Two properties are currently in the inventory.
Office Mid-Rise District – No activity – No properties are currently in the inventory.
Office High-Rise District – No activity – No properties are currently in the inventory.
Office/Flex District – No activity – No properties are currently in the inventory.
Heavy Industrial District – No activity – No increase in the number of properties during this reporting period. No properties are currently in the inventory.
Light Industrial District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
Industrial/Transportation District – No activity – No properties are currently in the inventory.
Planned Business District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
Planned Mixed Use District – No activity – No properties are currently in the inventory.
*The data presented here is compiled from information provided by the Metropolitan Regional Information System.
The information provided here is the author’s own interpretation of the Prince William County Commercial Real Estate market and makes no warranty or claim regarding the usefulness or implications of this information.
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
Commercial Land Absorption Rates – Prince William County – January 2012
Commercial Land Real Estate Absorption Rates for Prince William County are offered as a service of Michael’s Commercial LLC. The monthly absorption rates are categorized by the following Prince William County Zoning Districts:
B-1 (General Business District)
B-2 (Neighborhood Business District)
B-3 (Convenience Retail District
O(L) (Office Low-Rise District)
O(M) (Office Mid-Rise District)
O(H) (Office High-Rise District)
O(F) (Office/Flex District)
M-1 (Heavy Industrial District)
M-2 (Light Industrial District)
M/T (Industrial/Transportation District)
MIXED (Mixed Commercial Use)
PBD (Planned Business District)
PMD (Planned Mixed Use District)
Absorption Rates are established by how many properties have sold during a given period of time (e.g., 365, 180, 90 and 30 days). Absorption rates also allow tracking trends in the market for any given number of days, weeks or months. These trends can indicate whether we may be in a Sellers Market, a Neutral Market or a Buyers Market. A monthly absorption rate of 5-6 is usually considered a Neutral Market. Anything below five is regarded as a Sellers Market and anything above six a Buyers Market.
Sellers Market 1-4 Months Supply
Neutral Market 5-6 Months Supply
Buyers Market 7 Plus Months Supply
The following tables reflect the Monthly Absorption Rates* for respective Zoning Districts in Prince William County ending on January 31, 2012:
Total Number of Properties on Market. The properties available on the market during the reporting period.
Total Number of Sales. The total number of Sold properties during the given reporting period.
Monthly Absorption Rate. The rate at which the Sold properties were absorbed in the market on a monthly basis.
Inventory. The number of available properties as of the report date.
Months Supply. The number of months it will take the properties to sell based on the number of properties that have sold during the reporting period.
Chance of Selling. The rate at which the properties in the inventory will sell based on the percentage of the total properties on the market and the total number of sales.
The tables above indicate that the commercial land real estate market in Prince William County has been minimal. There are currently 40 properties on the market. This is a net decrease of one property than reported last month. No properties have sold during this reporting period. There is one property currently Under Contract. We are presently in a Buyer’s market.
General Business District – Minimal activity – There was an decrease of two properties during this reporting period since last month. Twenty-two properties are currently in the inventory and one property is currently Under Contract.
Neighborhood Business District – Minimal activity – There is an increase of one property during this reporting period. Two properties are currently in the inventory.
Convenience Retail District – No activity – No new properties during this reporting period. One property is currently in the inventory.
Office Low-Rise District – No activity – No properties are currently in the inventory.
Office Mid-Rise District – No activity - No properties are currently in the inventory.
Office High-Rise District – No activity - No properties are currently in the inventory.
Office/Flex District – No activity - No properties are currently in the inventory.
Heavy Industrial District – Minimal activity – No new properties during this reporting period. There was a decrease of one property during this reporting period. Three properties are currently in the inventory.
Light Industrial District – Minimal activity – No new properties during this reporting period. Three properties are currently in the inventory.
Industrial/Transportation District – Minimal activity – No new properties during this reporting period. One property is currently in the inventory.
MIXED – Minimal activity – No new properties during this reporting period. Six properties are currently in the inventory.
Planned Business District – Minimal activity – No new properties during this reporting period. Two properties are currently in the inventory.
Planned Mixed Use District – No activity – No properties are currently in the inventory.
*The data presented here is compiled from information provided by the Metropolitan Regional Information System.
The Commercial Land Absorption Report is the author’s own interpretation of the Prince William County Commercial Real Estate market and makes no warranty or claim regarding the usefulness or implications of this information.
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
Commercial Property Market Report – Prince William County – January 2012
The Commercial Property Market Report for Prince William County is offered as a service of Michael’s Commercial LLC. The January 31, 2012 market report is categorized by the commercial Prince William County Zoning Districts:
Legend:
B-1 (General Business District)
B-2 (Neighborhood Business District)
B-3 (Convenience Retail District
O(L) (Office Low-Rise District)
O(M) (Office Mid-Rise District)
(H) (Office High-Rise District)
O(F) (Office/Flex District)
M-1 (Heavy Industrial District)
M-2 (Light Industrial District)
M/T (Industrial/Transportation District)
MIXED Commercial
PBD (Planned Business District)
PMD (Planned Mixed Use District)
*The data presented here is compiled from information provided by the Metropolitan Regional Information System.
The Commercial Property Market Report is the author’s own interpretation of the Prince William County Commercial Real Estate market and makes no warranty or claim regarding the usefulness or implications of this information.
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
Existing Vacant Day Care for Sale (Real Property Only) * The Building is Approximately 4,988 Square Feet and Sits on Approximately 0.95 Acre * The Property is Zoned R-16 Suburban Residential District * Located within Crossroads Village * Licensed in Prince William County for up to 110 Children * Zoning will Accommodate a Group Home by Right * Adult Day Care Permitted with a Special Use Permit * Owner will Entertain all Reasonable Offers *
Area Description:
Prince William County is located in Northern Virginia approximately 35 miles southwest of Washington, DC. It is bounded on the north by Fairfax and Loudoun Counties, on the east by the Potomac River (Maryland), on the south by Stafford County and on the west by Fauquier County.
Prince William County encompasses a total area of 348 square miles (222,684 acres) and a total land area of 338 square miles (216,269 acres). Prince William County includes within its boundaries the independent cities of Manassas and Manassas Park. The combined area of Prince William County and the independent cities is 360 square miles (230,626 acres). Federal land accounts for 41,671 acres (18.8% of the total area) and includes Quantico Marine Corps Base, Manassas National Battlefield Park and Prince William Forest Park.
Newbern Loop is located in Gainesville, Virginia just off of Heathcote Boulevard with traffic counts of 9,300 AADT (Heathcote BL/Catharpin RD). Heathcote Boulevard is a thoroughfare which is in close proximity to U.S Routes 15 and 29, and Interstate I-66.
Property Features:
1. Ideal Location for Child-Care Facility 2. Ideal Location for Adult Day-Care Facility 3. Great Location in Established Neighborhood 4. AADT - 9,300 (Heathcote BL/Catharpin RD)
Price: $1,347,000.00
Contact Information:
Michael Setunsky, CCS Michael's Commercial LLC Licensed in Virginia 703.831.4028
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
Commercial Absorption Rates – Prince William County – December 2011
Commercial Real Estate Absorption Rates for Prince William County are offered as a service of Michael’s Commercial LLC. The monthly absorption rates are categorized by the following Prince William County Zoning Districts:
B-1 (General Business District)
B-2 (Neighborhood Business District)
B-3 (Convenience Retail District
O(L) (Office Low-Rise District)
O(M) (Office Mid-Rise District)
O(H) (Office High-Rise District)
O(F) (Office/Flex District)
M-1 (Heavy Industrial District)
M-2 (Light Industrial District)
M/T (Industrial/Transportation District)
PBD (Planned Business District)
PMD (Planned Mixed Use District)
Absorption Rates are established by how many properties have sold during a given period of time (e.g., 365, 180, 90 and 30 days). Absorption rates also allow tracking trends in the market for any given number of days, weeks or months. These trends can indicate whether we may be in a Sellers Market, a Neutral Market or a Buyers Market. A monthly absorption rate of 5-6 is usually considered a Neutral Market. Anything below five is regarded as a Sellers Market and anything above six a Buyers Market.
Sellers Market 1-4 Months Supply
Neutral Market 5-6 Months Supply
Buyers Market 7 Plus Months Supply
The following tables reflect the Monthly Absorption Rates* for respective Zoning Districts in Prince William County ending on December 31, 2011:
Total Number of Properties on Market. The number of properties on the market during the reporting period.
Total Number of Sales. The total number of Sold properties during the given reporting period.
Monthly Absorption Rate. The rate at which the Sold properties were absorbed in the market on a monthly basis.
Inventory. The number of available properties as of the reporting date.
Months Supply. The number of months it will take the properties to sell based on the number of properties that have sold during the reporting period.
Chance of Selling. The rate at which the properties in the inventory will sell based on the percentage of the total properties on the market and the total number of sales.
The tables above indicate that the commercial real estate market in Prince William County has been minimal during this reporting period. There were no commercial property sales within the last 30 days. Twelve commercial properties are currently on the market. There are two fewer properties on the market than reported last month. We are presently in a Buyer’s Market.
General Business District – Minimal activity – There was a decrease of one property during this reporting period. Seven properties are currently in the inventory.
Neighborhood Business District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
Convenience Retail District – No activity – No properties are currently in the inventory.
Office Low-Rise District – Minimal activity – No increase in the number of properties during this reporting period. Two properties are currently in the inventory.
Office Mid-Rise District – No activity – No properties are currently in the inventory.
Office High-Rise District – No activity – No properties are currently in the inventory.
Office/Flex District – No activity – No properties are currently in the inventory.
Heavy Industrial District – No activity – No increase in the number of properties during this reporting period. No properties are currently in the inventory.
Light Industrial District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
Industrial/Transportation District – No activity – No properties are currently in the inventory.
Planned Business District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
Planned Mixed Use District – No activity – No properties are currently in the inventory.
*The data presented here is compiled from information provided by the Metropolitan Regional Information System.
The information provided here is the author’s own interpretation of the Prince William County Commercial Real Estate market and makes no warranty or claim regarding the usefulness or implications of this information.
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
Commercial Land Absorption Rates – Prince William County – December 2011
Commercial Land Real Estate Absorption Rates for Prince William County are offered as a service of Michael’s Commercial LLC. The monthly absorption rates are categorized by the following Prince William County Zoning Districts:
B-1 (General Business District)
B-2 (Neighborhood Business District)
B-3 (Convenience Retail District
O(L) (Office Low-Rise District)
O(M) (Office Mid-Rise District)
O(H) (Office High-Rise District)
O(F) (Office/Flex District)
M-1 (Heavy Industrial District)
M-2 (Light Industrial District)
M/T (Industrial/Transportation District)
MIXED (Mixed Commercial Use)
PBD (Planned Business District)
PMD (Planned Mixed Use District)
Absorption Rates are established by how many properties have sold during a given period of time (e.g., 365, 180, 90 and 30 days). Absorption rates also allow tracking trends in the market for any given number of days, weeks or months. These trends can indicate whether we may be in a Sellers Market, a Neutral Market or a Buyers Market. A monthly absorption rate of 5-6 is usually considered a Neutral Market. Anything below five is regarded as a Sellers Market and anything above six a Buyers Market.
Sellers Market 1-4 Months Supply
Neutral Market 5-6 Months Supply
Buyers Market 7 Plus Months Supply
The following tables reflect the Monthly Absorption Rates* for respective Zoning Districts in Prince William County ending on December 31, 2011:
Total Number of Properties on Market. The properties available on the market during the reporting period.
Total Number of Sales. The total number of Sold properties during the given reporting period.
Monthly Absorption Rate. The rate at which the Sold properties were absorbed in the market on a monthly basis.
Inventory. The number of available properties as of the report date.
Months Supply. The number of months it will take the properties to sell based on the number of properties that have sold during the reporting period.
Chance of Selling. The rate at which the properties in the inventory will sell based on the percentage of the total properties on the market and the total number of sales.
The tables above indicate that the commercial land real estate market in Prince William County has been minimal. There are currently 40 properties on the market. This is a net decrease of one property than reported last month. No properties have sold during this reporting period. There is one property currently Under Contract. We are presently in a Buyer’s market.
General Business District – Minimal activity – There was an decrease of two properties during this reporting period since last month. Twenty-two properties are currently in the inventory and one property is currently Under Contract.
Neighborhood Business District – Minimal activity – There is an increase of one property during this reporting period. Two properties are currently in the inventory.
Convenience Retail District – No activity – No new properties during this reporting period. One property is currently in the inventory.
Office Low-Rise District – No activity – No properties are currently in the inventory.
Office Mid-Rise District – No activity - No properties are currently in the inventory.
Office High-Rise District – No activity - No properties are currently in the inventory.
Office/Flex District – No activity - No properties are currently in the inventory.
Heavy Industrial District – Minimal activity – No new properties during this reporting period. There was a decrease of one property during this reporting period. Three properties are currently in the inventory.
Light Industrial District – Minimal activity – No new properties during this reporting period. Three properties are currently in the inventory.
Industrial/Transportation District – Minimal activity – No new properties during this reporting period. One property is currently in the inventory.
MIXED – Minimal activity – No new properties during this reporting period. Six properties are currently in the inventory.
Planned Business District – Minimal activity – No new properties during this reporting period. Two properties are currently in the inventory.
Planned Mixed Use District – No activity – No properties are currently in the inventory.
*The data presented here is compiled from information provided by the Metropolitan Regional Information System.
The Commercial Land Absorption Report is the author’s own interpretation of the Prince William County Commercial Real Estate market and makes no warranty or claim regarding the usefulness or implications of this information.
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
Commercial Property Market Report – Prince William County – December 2011
The Commercial Property Market Report for Prince William County is offered as a service of Michael’s Commercial LLC. The December 31, 2011 market report is categorized by the commercial Prince William County Zoning Districts:
Legend:
B-1 (General Business District)
B-2 (Neighborhood Business District)
B-3 (Convenience Retail District
O(L) (Office Low-Rise District)
O(M) (Office Mid-Rise District)
(H) (Office High-Rise District)
O(F) (Office/Flex District)
M-1 (Heavy Industrial District)
M-2 (Light Industrial District)
M/T (Industrial/Transportation District)
MIXED Commercial
PBD (Planned Business District)
PMD (Planned Mixed Use District)
*The data presented here is compiled from information provided by the Metropolitan Regional Information System.
The Commercial Property Market Report is the author’s own interpretation of the Prince William County Commercial Real Estate market and makes no warranty or claim regarding the usefulness or implications of this information.
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
I wrote this post earlier this year after the National Association of REALTORS(R) modified Article 11 to include land brokerage to the code of ethics. Excerpt from Article 11:
REALTORS® shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client. Any persons engaged to provide such assistance shall be so identified to the client and their contribution to the assignment should be set forth. (Amended 1/10)
Article 11 emphasizes the importance for working within our area of competence. Should this situation come up, work with someone who is competent in the particular field of real estate.
Don’t Jeopardize Your Real Estate Career
NAR recently modified Article 11 of the REALTOR® Code of Ethics to include adding raw land as a real estate discipline.
What does this mean to us as REALTORS® should we come in contact with someone who wants to either purchase or sell a parcel of raw land? If we wish to work in areas that requires know-how beyond our level of competence; we should do one of three things:
Get appropriate training.
Get assistance from a person who has the required expertise.
Disclose to your clients that you don’t have the necessary skills.
Warning!!!
Preferring to ignore these items and choosing to work outside of our area of expertise is an Article 11 violation of the Code.
I would like to add one more item to the list. Before getting involved in any transaction that is beyond your area of expertise and capability, refer it to a REALTOR® who has the required knowledge to do the job. Leave areas of this business where you lack sufficient knowledge to the experts. Take the referral fee. It’s a lot easier and more financially rewarding than jeopardizing your real estate career.
(Source VAR Commonwealth Online)
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
As demonstrated in recent posts, the REALTOR® Code of Ethics is often misinterpreted. Here is an opportunity to discuss any and all issues relating to the code. Join the REALTORS® Code of Ethics group and we can all learn from the discussions. Thanks Lenn for starting up this group.
ANNOUNCING A NEW GROUP - REALTORS® Code of Ethics. COME JOIN US, HERE.
This GROUP is a place for the EXCHANGE of thoughts and opinions and shared experiences in our day to day real estate practice that involve the REALTORS® Code of Ethics.
First of all, I want to thank Brenda Mullins for here grace and professionalism in the face of over 200 comments before she wisely disabled the comments.
Brenda is a wise agent always read to learn. When what she thought was improper conduct on the part of an agent seeking to negotiate the Buyer's Agent Co-op turned out to be the proper thing for the agent to do, Brenda quickly embraced the proper procedure as described in the
Sadly, many of the comments to Brenda's post used the opportunity to disparage the character and/or practices of fellow agents and brokers with whom they disagree. In the space of the first 175 comments, agents who clearly understood the Standard of Practice involved were referred to as:
a self serving idiot
crass
greedy
unprofessional
having bad real estate practice
unfair
nervy
illegal
violating the COE
a jerk
unethical
like a used car salesman
a blackmailer
schmuck
bloodsucking
self serving
To their credit, many members commenting understood the matter and clearly described the Standard of Practice involved that permitted the agent who contacted Brenda to do just what she did, While her attitude and motivation may not have been "pure", her action did not, from what was written, violate any Standard of Practice of the REALTORS® Code of Ethics.
ANNOUNCING A NEW GROUP - REALTORS® Code of Ethics Exchange. COME JOIN US.
WHO CAN JOIN? Any ActiveRain member; agents, brokers, appraisers, home inspectors, product or service representatives, attorneys, title company representatives, home stagers, virtual assistants, and more. If you have an interest in what guides a large percentage of real estate agents in their day to day practice, COME JOIN US.
Post your questions, ideas, understandings, problems with and anything at all involving the Code or any SOP.
In fact, to inspire discussion and an exchange of ideas , I plan to post sections of the COE and specific SOP with an opportunity for members to contribute by sharing some of their experiences involving the code.
Hopefully, this group will enlighten, educate and generally lift awareness of the importance of the REALTORS® Code of Ethics. Membership in the National Association of Realtors is the first step for many new agents to become aware of the AWESOME responsibility we assume when representing BUYERS and SELLERS.
Commercial Absorption Rates – Prince William County – November 2011
Commercial Real Estate Absorption Rates for Prince William County are offered as a service of Michael’s Commercial LLC. The monthly absorption rates are categorized by the following Prince William County Zoning Districts:
B-1 (General Business District)
B-2 (Neighborhood Business District)
B-3 (Convenience Retail District
O(L) (Office Low-Rise District)
O(M) (Office Mid-Rise District)
O(H) (Office High-Rise District)
O(F) (Office/Flex District)
M-1 (Heavy Industrial District)
M-2 (Light Industrial District)
M/T (Industrial/Transportation District)
PBD (Planned Business District)
PMD (Planned Mixed Use District)
Absorption Rates are established by how many properties have sold during a given period of time (e.g., 365, 180, 90 and 30 days). Absorption rates also allow tracking trends in the market for any given number of days, weeks or months. These trends can indicate whether we may be in a Sellers Market, a Neutral Market or a Buyers Market. A monthly absorption rate of 5-6 is usually considered a Neutral Market. Anything below five is regarded as a Sellers Market and anything above six a Buyers Market.
Sellers Market 1-4 Months Supply
Neutral Market 5-6 Months Supply
Buyers Market 7 Plus Months Supply
The following tables reflect the Monthly Absorption Rates* for respective Zoning Districts in Prince William County ending on November 30, 2011:
Total Number of Properties on Market. The number of properties on the market during the reporting period.
Total Number of Sales. The total number of Sold properties during the given reporting period.
Monthly Absorption Rate. The rate at which the Sold properties were absorbed in the market on a monthly basis.
Inventory. The number of available properties as of the reporting date.
Months Supply. The number of months it will take the properties to sell based on the number of properties that have sold during the reporting period.
Chance of Selling. The rate at which the properties in the inventory will sell based on the percentage of the total properties on the market and the total number of sales.
The tables above indicate that the commercial real estate market in Prince William County has been minimal during this reporting period. There were no commercial property sales within the last 30 days. Fourteen commercial properties are currently on the market. There are three fewer properties on the market than reported last month. We are presently in a Buyer’s Market.
General Business District – Minimal activity – There was a decrease of three properties during this reporting period. Eight properties are currently in the inventory.
Neighborhood Business District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
Convenience Retail District – No activity – No properties are currently in the inventory.
Office Low-Rise District – Minimal activity – No increase in the number of properties during this reporting period. Two properties are currently in the inventory.
Office Mid-Rise District – No activity – No properties are currently in the inventory.
Office High-Rise District – No activity – No properties are currently in the inventory.
Office/Flex District – No activity – No properties are currently in the inventory.
Heavy Industrial District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
Light Industrial District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
Industrial/Transportation District – No activity – No properties are currently in the inventory.
Planned Business District – Minimal activity – One property is currently in the inventory.
Planned Mixed Use District – No activity – No properties are currently in the inventory.
*The data presented here is compiled from information provided by the Metropolitan Regional Information System.
The information provided here is the author’s own interpretation of the Prince William County Commercial Real Estate market and makes no warranty or claim regarding the usefulness or implications of this information.
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Existing Vacant Day Care for Sale (Real Property Only) * The Building is Approximately 4,988 Square Feet and Sits on Approximately 0.95 Acre * The Property is Zoned R-16 Suburban Residential District * Located within Crossroads Village * Licensed in Prince William County for up to 110 Children * Zoning will Accommodate a Group Home by Right * Adult Day Care Permitted with a Special Use Permit * Owner will Entertain all Reasonable Offers *
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