EDITOR'S NOTE

Keeping an eye on real estate

Real estate. A subject that touches on the home and work lives of just about all of us.

Home ownership. Home sales. Commercial property sales and leasing. Office space and manufacturing facilities. Rental property. Affordable housing. Lending institutions. Legal fees. Insurance. The list goes on.

The good news is that in most instances the news is pretty good. Yes, the residential market is a bit soft these days. Agents are having to work longer and harder to make fewer sales. In addition to more showings in a buyers' market, they are resorting to tried and true methods such as holding open houses, something that wasn't necessary when the market was hot. They are also looking to new methods, most prominently varying uses of the Internet. In the meantime, the long-range forecast is that demand and prices will come back.

Demographer Peter Francese thinks the Seacoast can count on a continuing influx of Baby Boomers who are buying second homes or retirement homes, thanks to the lack of sales and income taxes in New Hampshire and property tax discounts to people older than 65.

Commercial property is doing quite well, especially in the Portsmouth area. Jeff Marple of Marple & James says, "Commercial is really roaring in Portsmouth. The market is really robust right now." Vacancies in office space are at a five-year low. There is new construction going on. Construction employment at the close of the first quarter of 2006 was an estimated 30,400 people in Maine and 30,600 people in New Hampshire, accord-ing to the U.S. Bureau of Labor Statistics. The New Hampshire estimate is the highest on record in more than a decade.

The employment picture at Pease International Tradeport is also a healthy one. The employee base currently is at about 6,400 with 220 companies. And there is still room to grow at one of best success stories on the Seacoast.

One problem that contractors and those in the construction see is the rising cost of fuel costs which, in turn, will increase the prices passed on to customers.

On the financial side of things, lenders too are finding that they need to be more crea-tive and to target specific segments of the mortgage market in an increasingly competi-tive industry.

All of these topics are included in this issue of Seacoast Ventures.

In addition, there is an interview with entrepreneur John Regan, founder of Parcxmart, a company trying to revolutionize the parking meter.

We want your letters

There are plenty of issues facing the business community in the Seacoast and we want to share your opinions, criticisms, suggestions with your contemporaries.

Is the Legislature or federal government making it harder for you to do business? For instance, what is your opinion about the federal Health Insurance Marketplace Moderni-zation Affordability Act of 2006?

We'd also like feedback on the articles and features in Seacoast Ventures. And sugges-tions about the kind of information that would be helpful to you that we are not providing.

Are there interesting business success stories we should know about?

Reach CAL KILLEEN via e-mail or 610-1193.