RISMEDIA, December 7, 2006—Steady job growth, bustling international ports, an attractive climate and an investor appetite for stable returns will keep the Southern California office and industrial markets on a healthy growth path into next year. This is according to results from the 2006 Casden Office and Industrial Market Forecast released by the University of Southern California Lusk Center for Real Estate.

RISMEDIA, December 7, 2006—Recently, I was involved in a discussion with a friend and we were talking about the Bill Gates book called, Business @ the Speed of Thought, which came out in 1999. Upon the conclusion of the conversation, I started to reflect on some of the monumental changes that have impacted the real estate industry over the course of my career. There immediately comes to mind some of the obvious changes such as the impact of the economy, the organizational changes, the technological advancements, and of course the Internet. One of the more topical changes currently underway is the way that real estate recruitment is morphing from a passive activity to a very systematic approach.

About a week ago, five real estate agents became owner/ partners of “Century 21 - A Better Way” after overcoming obstacles that delayed settlement for a month.

In October, Vincent Mellott, Bev Lehman, Les Welsh, Jack Maddox and Walter “Biff” Bond had arrived at “Century 21 Associates Coon & Co.” at 398 E. High St., Carlisle, expecting to close their deal at the end of October.

Getting into compliance with recently enacted state real estate legislation, however, slowed down that plan.

“We had to have an escrow account,” says Maddox. “How can we have an escrow account when we have no money to put into escrow? We had to do that.”

A bubble is forming in the country’s commercial real estate market as prices rise to increasingly lofty levels, says Washington Post columnist Steven Pearlstein.

So far, the prices have yet to scare away pension funds, foreign investors, and college endowments. These investors have continued to funnel large sums of money into REITs, private equity real estate funds, and hedge funds that specialize in real estate finance.

But, Pearlstein points out, the Blackstone Group’s recent acquisition of Equity Office Properties Trust is indicative of bubble conditions vulnerable to a downturn. That’s because 80 percent of the $36 billion deal will be financed with debt and the capitalization rate is an estimated 5.5 percent.

Real estate Web site Zillow.com became an instant hit by telling homeowners — and their nosy neighbors — how much their house might be worth. 

Now, the Seattle-based company will help owners get the word out about how much they want in a sale.

Starting Thursday, Zillow joins a growing list of Web sites that allow homeowners and real estate agents to post virtual “For Sale” signs for free. The feature also plugs a hole on the site, which touts a database of more than 60 million U.S. residences but no information on what most viewers want to know: Is this home for sale?