The National Association of Realtors says that commercial real estate rents are on the rise nationally. Our local TV station wanted to do a segment on how this national trend compared to our local market. The news director, Stuart Price, at KSN suggested to reporter Melanie Hounker that she contact me, which she did. So on Tuesday when I woke up, my mind was on all the things I had scheduled for that day. Top on the list was cleaning the house for a book club meeting that night. But since Melanie was so nice to ask me, I agreed to help her with the segment. I mean how bad could it be? So, after talking to several other knowledgeable realtors, I felt I could contribute to this segment about our local market.
Joplin has an extremely unique market due to the May 2011 tornado that wiped out much of the Joplin real estate. Fortunately, Joplin is rebuilding many residential and commercial properties. Unfortunately, new construction costs can be very high. We can also blame the tornado in part for increased insurance rates. Of course, taxes and utilities have also been on the rise. Mix all this together and you get increased rents that do not benefit the renter, but also do not add to the profits of the landlord.
However, there is really good news in real estate. Plenty of local homes on the market and interest rates continue to be at a very low rate!
And if you caught my interview on the nightly news, well what can I say except I come across way better in person! So give me a call and let me help you with your real estate needs.