Tishman Realty & Construction Co., Inc.New York, NY, United States

Wachovia Sale Causes Concern in Charlotte Market - The sale of Wachovia could lead to a substantial increase in office vacancies and cause rental rates to decline. Like any major acquisition, the impending sale of Wachovia, one of Charlotte's largest corporate citizens, could have severe repercussions on the city, both economically and culturally. Losing company headquarters will have some impact; although moving operations is expensive, most real estate experts believe that some loss of jobs and office space will occur. The largest effect though, may be on older buildings, which might suffer if prices decline much for the space that Wachovia vacates, putting downward pressure on older buildings.

Credit Crunch Affecting Real Estate Deals - The continuing credit crunch is affecting some real estate deals around the country, especially in New York. Getting mortgages is becoming more difficult, despite home prices declining up to 20 percent. Lenders are increasing down payment requirements from 20 to 30 percent, and a higher minimum credit score is being required for a loan.

The Next Hot Real Estate Market - The best indicator of the next hot real estate market is where artists live. For the knowledgeable buyer, knowing where artists live is a good indicator of a market ready to take off. In places such as New York, Boston, Philadelphia, San Francisco, and Atlanta, where artists reside has been a good predictor of future desirable neighborhoods. Artists aren't looking for the best neighborhoods but a location where they can create. Artists set the stage for redevelopment as they turn gritty neighborhoods into chic locations with boutiques and shops, attracting investors which, in turn, raises prices.