What Does the Commercial Real Estate Market Look Like for the Rest of 2012 and Into 2013?
2012 has been a successful year. Although the year is nearly over, there is still much work to be done. The uncertainties facing the nation in 2013 – the Fiscal Cliff, tax changes, interest rates, job growth (or lack thereof) – are driving clients towards a year-end push to close as many transactions as possible. My partners in Stewart offices across the country have reported a significant increase in scheduled closings reminiscent of the late 1980s when impending tax changes resulted in a scramble to get deals closed before the end of the year. I know that Stewart offices are equipped to meet this challenge and deliver the level of service our clients have come to expect.
Looking forward to 2013, I think that the commercial real estate market will continue to show improvement despite the uncertainties and the bumpy economic recovery. Regardless of the state of the economy or our business, I have come to learn that long-term, sustainable growth is built upon teamwork and relationships. Whether it is 2007 or 2013, clients expect exceptional service. We have been, and continue to be, committed to serving our clients and growing our businesses together.
I am grateful for the partners that I have at Stewart. I am also grateful for our tremendous clients and their continued loyalty throughout the many years I have been in this business. I look forward to another successful year with my friends, partners, and clients; old and new.
Happy holidays and best wishes to a successful and prosperous 2013.