Living the ‘High Life’ in Dubai

By Brian Summerfield, Online Editor, REALTOR® Magazine

The torch has been passed: The world’s tallest building, the Burj Khalifa (2,717 feet), opened yesterday in the city of Dubai, passing the Taipei 101 (1,670 feet) by a wide margin. (Note: Until recently, the tower was known as the Burj Dubai—more on that in a few paragraphs.) The tower will be a mixed-use building, with condos, hotel rooms, retail shops, and offices, and the centerpiece of a new complex in the heart of this most well-known Middle Eastern metropolis.

Now, any time the world’s-tallest-building record is broken, it’s significant. But this is extra significant because the preceding record was absolutely shattered. It’s something like Albert Pujols or Ryan Howard hitting 100 home runs in a single baseball season, or someone beating Usain Bolt in the 100-meter dash by four seconds. Read more

Top 10 Real Estate Developments of the ’00s: #5

By Brian Summerfield, Online Editor, REALTOR® Magazine

Today, we start on the bottom-half of the top real estate developments of the decade with something that really came into play in the past year: Read more

2010: A Major Test for Commercial

By Brian Summerfield, Online Editor, REALTOR® Magazine

The next year or two may be a “test of survival” for anyone in the commercial real estate sector, but the upswing could be very lucrative for the ones who make it through that period. This was the overarching message coming from panelists and speakers at the Urban Land Institute’s Fall 2009 meeting in San Francisco last week, as well as ULI’s Emerging Trends in Real Estate 2010 report, which was released at the event.

Right now, the consensus among industry experts seems to be forming around a slower, “L-shaped” recovery in the commercial market, with employment repeatedly being cited as a key factor in determining exactly when that recovery may come. The discussion was well-timed, seeing as how the U.S. unemployment rate topped 10 percent last month, reaching levels we haven’t seen in a quarter century. Predictions as to when we’d see real job creation again ranged from late 2010 to 2012. Read more

Are You a Broker-Owner Who’s Trimmed Office Space?

By Wendy Cole, Senior Editor, REALTOR® Magazine

Broker-Owners: Have you recently reduced your office space? For an upcoming article, REALTOR Magazine wants to speak to brokers who’ve cut back on excess work space to save money and improve efficiency. We also want to hear from sales associates for their reactions to brokers who’ve cut their space.

Please email me at wcole@realtors.org or call me at 312-329-8484 to discuss details of how and why you (or your broker) decided to trim office space and the pros and cons (if any) of taking that step. Many thanks.