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You Visit Tour. Webb Lion Fountain. June 1 2017. Photo David B. Hollingsworth

Annual E.V. Williams Center for Real Estate Report to be Delivered March 2

By Brendan O'Hallarn

For more than two decades, Old Dominion University has produced an annual report about the Hampton Roads real estate market. This year will mark the first time that the effort has been led by Andy Hansz, professor of finance and director of the University's E.V. Williams Center for Real Estate (formerly CREED).

Hansz has been totally engrossed in the process.

"I'm in awe. This market is as complex as any that I've worked in," Hansz said. "You have 17 different municipalities, the large military sector, traffic, tunnels. There is nothing like this real estate market."

The 2016 Hampton Roads Market Review & Forecast, an annual gathering where Old Dominion will present the E.V. Williams Center for Real Estate annual report, is being hosted by the University from 3:30 to 6 p.m. on Wednesday, March 2. Registration begins at 2 p.m.

Information about the event, and an online registration link, is available HERE. All E.V. Williams Center members will receive a complimentary ticket to the event.

Hansz said this year's report will provide detailed snapshots about different sectors of the real estate market, produced by local leaders in commercial, residential, industrial and other market divisions. "That's what makes this report different than others - it's actually written by leaders in the field," Hansz said.

This year's event will include three new sessions, including an introductory discussion about the economy led by Chip Filer, associate professor of economics and a member of the Old Dominion University Economic Forecasting Project.

There will also be, for the first time, a presentation on financing, led by Jeremy Starkey, president of commercial real estate financing with Monarch Bank. With changes in financing for real estate transactions triggered by the global economic slowdown of 2007 to 2010, Hansz said the session will be a valuable addition to the list of presentations.

To close the event, Hansz will present the first public results of the market sentiment survey, which he launched after joining Old Dominion University last summer. The survey, now conducted twice a year in Hampton Roads, is an important indicator of how residents feel about the local market.

"Sometimes perception can become reality. Other times there are differences. Sentiment is an important aspect of real estate market transactions and pricing, so we are happy to include it in the report," Hansz said.

Other presenters will include John Profilet, vice president with S.L. Nusbaum, about the office market; Bill Throne, first vice president for industrial properties with Cushman & Wakefield/THALHIMER, addressing the industrial market; Michael Gurley, senior vice president and director of leasing with S.L. Nusbaum, on the retail market; Wendy Drucker, managing director of Drucker & Falk Real Estate, about the multi-family market; Scott Adams, regional president for the mid-south region with CBRE, addressing the investment market; and Van Rose, president of Rose & Womble Realty, presenting the residential market report.

For more information about the event, or about the E.V. Williams Center for Real Estate, please see the E.V. Williams Center's website.