Gonna Be The Future Soon?
|If you can wait just a bit longer, Republic Title?s executive chairman Bill Kramer says CRE's barometer readings are looking pretty good: commercial revenue in Q1 was 40% higher than Q1 '10 and 49% higher than the year before that.|
Bill thinks the figures are an indicator of local real estate activity, since Republic is the largest title company in DFW (and the largest commercial escrow operation in the country). He says commercial closings were up 27% in 2010, gross revenue increased 54% over 2009, and Q4 commercial revenue (primarily December) was the best since 2006. But Bill is more than just numbers—here we snapped him with two of the paintings from his massive art collection displayed around the office. His collection prominently features the works of Dallas-based Dutch artist Arie Van Selm.
Republic Title EVP/general counsel Peter Graf, executive chairman David Shuttee, Bill, and prez Bo Feagin. Bill says he's seeing a lot of optimism across the real estate industry. With some movement again and lowering prices, deals have started and transactions are what create jobs. Bo says things are moving slowly, even while the lending community is returning. In 2009 and '10, there were stressed sales, foreclosures, and receiverships; yes, the market still has a lot of those, but he says, there are more real transactions today that point to recovery. David agrees, as he sees many companies with cash buying now instead of just kicking the tires.
We caught a large portion of the Republic Title staff red-shirted for Go Red day, a reminder that heart health starts at home (or the office). Staffers brought in sweet treats and Bill slipped us a few chocolate-covered red velvet cakeballs from the spread. To hear more from Bill, you can catch him as a moderator for Bisnow's Second Annual Real Estate Summit May 16 at the Westin Galleria Sign up here!