Phoenix Arizona a leader for commercial investments......

The Urban Land Institute and PricewaterhouseCoopers' annual report entitled "Emerging Trends in Real Estate 2008" has ranked Phoenix Arizona #9 of 15 for commercial real estate markets in the United States to watch in 2008. The cause of this ranking is the rampant growth in population for Phoenix. This opinion is based on interviews with more than 600 investors, developers, and anylyst. A huge factor for Phoenix is job creation and the opening of light rail. Metro Phoenix in 2007 was the leader for condo conversions in the country. With the slowing single family housing sector these condo projects are now being converted back into apartments. This is a great sign for investors in the multi family sector. Investors who know will be acquiring these buildings back for the rental market. The rental market is stronger now than it has been in many years. Rents are increasing as more and more people are jumping out of the mortgages that they can no longer afford. These homeowners are being just a bit shy about jumping into another mortgage and siding on the side of caution and renting instead of buying. This trend in itself is good for the rental market as we are finding we are atracting a higher quality tenant. Investors should not wait too long before making their move because if they do they risk the turning of this market moving from a buyers market back to a sellers market, and this is something that can happen rather quickly. As a good friend always tells me, One should not wait to buy real estate, One should buy real estate and wait!!!!!