EDITOR'S NOTE

The Real Deal

For what seems like ages these days, we have been hearing and reading about the collapse of the real estate industry.

Well, don't bet on it. The industry and its agents are a hardy lot. Some of them have weathered tough times before and, historically, the business bounces back in the long run.

They are also an optimistic bunch. It's not whether the glass is half full or half empty, but how high can we fill it?

They take advantage of slower times (Rockingham County residential sales were down nearly 25 percent from 2005 to 2006) to increase their training and education to be better prepared when the inevitable market rebound occurs. (See story.)

But, while the news has been focusing on the residential market, the commercial market is doing just fine, thank you.

David Choate, a principal at Grubb & Ellis Coldstream Real Estate Advisers in Portsmouth, says "We're as busy as we've ever been."

The southern New Hampshire commercial real estate market showed strength in office, retail, and industrial sectors, according to an annual report by CB Richard Ellis.

And Michael Kane, the CEO of the Kane Company, says, "There's a lot of interest for good office space almost everywhere on the Seacoast. It continues to be a strong market." (See story.)

Looking forward, the market predictors say the Seacoast has a lot going for it, especially because of the lures of the Pease International Tradeport.

One broker, Fred Attalla of Points Nor'East Properties, goes so far as to say that the Seacoast "is going to be the Manchester triangle." (See story.)

And demographer Peter Francese of Exeter thinks the housing market in New Hampshire is likely to be significantly more robust than in other parts of the region and that it will probably recover first and be better than most during the coming year. (See story.)

However, he continues to warn of the dangers in a lack of work-force housing and how that contributes to a drain on young adults leaving the area as a result.

In Portsmouth, there is an effort under way to do something about it.

The city changed its zoning ordinances to create incentives for work-force housing and Bryan Wyatt, executive director of The Housing Partnership, is using it in connection with a project in the Atlantic Heights section of the city. He is also head of the Workforce Housing Coalition of the Greater Seacoast, a business-led effort.

And that's one of the keys. Business needs to be involved. (See story.)

On the technological front, the Internet and online content is playing an ever-more important role in the real estate industry, making home hunting easier for buyers and well as sellers. (See story.)

Residential property might be staying on the market longer and the selling prices might not be what they were a couple of years ago, but as the song goes, the times they are a'changin'.

Reach CAL KILLEEN via e-mail or 570-2243.