“Yes. The pendulum is swinging back in a positive direction. Get ready... good things are happening now and it’s about to get fun again!”
Mike Mixer • Managing Partner, Colliers International – Las Vegas
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“We see promising signs that the recession is over and the economy is on a sustainable upswing. Certainly, there are challenges that remain, but our clients are experiencing growth in their businesses, which translates to higher loan demand. Our outlook for the short term is positive.”
Dianne Weeks • Vice President, Wells Fargo Southern Nevada Business Banking Group
“From the commercial real estate standpoint it would appear that the ‘Great Recession’ for Southern Nevada has past, though still recent enough to hopefully mitigate “exuberant expectations” that we saw in the past. While rising interest rates can certainly impact our industry, only consistent growth for a period of time within the entertainment/hospitality, residential and broader diversified business industries will lay the property foundation for sustained new development.”
John Ramous • Vice President of Operations, Harsch Investment Properties
“At Park Place Infiniti, we are seeing car sales on the rise with some new models selling just hours after arriving at the dealership. To me, this means that people are regaining confidence in the economy and the recession may be nearing an end.”
Joe Tortomasi • General Manager, Park Place Infiniti
“Yes, we have certainly turned the corner. The environment is optimistic but very cautious.”
John Solari • Managing Partner, J. A. Solari & Partners
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“It appears that we are in a recovery phase form the economic downtown of the past. So, while we haven’t fully recovered, we are moving in the right direction. A full recovery would require real estate values return to 2007 numbers, and about 5 percent unemployment. It’s questionable if we will anytime soon have either one of those occur. But, there has been massive investments in Southern Nevada Real Estate over the last two years.”
Tedd Rosenstein, MS, CCIM • 2013 President, Commercial Alliance Las Vegas (CALV)
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