Four Corners Forecast (JPM)
Potential opportunities exist for Real Estate managers despite economic crisis
by Darnell Little
The following is an excerpt from the Jan/Feb 2009 issue (Volume 74, Number 1) of JPM�, Journal of Property Management.����
Anyone fortunate enough to visit the Four Corners region (Colorado, Arizona, New Mexico and Ut ah) of the southwestern United St ates can att est to the physical beauty of the area�s landscape. Scenic locales like Monument Valley, Mesa Verde and Canyon de Chelly have long been magnets for tourists, photographers and nature lovers.�
No doubt, the area has been reeling lately from the country�s current economic downturn. The crashing of the sub-prime lending market, the housing slump and the squeeze on credit has resulted in real estate developers significantly scaling down on production.�
�It�s very gloomy right now,� said Richard Brent Meszaros, a Phoenix-based real estate agent. �A lot of developers have put themselves on hold.��
Yet despite the current economic chill, the Four Corners states still boast of job growth that outpaces the national average, growing retail sales in several areas, and a commercial real estate market where demand is still strong. This all points to continuing opportunities for enterprising property managers willing to make an extra effort to operate in this challenging but still lucrative environment.
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