Reflecting on 2Q2013 (PART II)

Welcome to Part II of the 2Q2013 Survey. Thank you for taking the time to fill this out! Much appreciated!

-Whitney

What are the development conditions in your market?

There is virtually no development underway.

Construction is somewhat below the average amount typical of this market.

Development volume is close to its historical average.

Construction is somewhat above the average amount typical of this market.

There is a building boom in progress right now.

What are site acquisition conditions for development in your market?

It is a strong buyer's market - prices are low and falling.

It is a buyer's market, but prices are stable at present.

The market is balanced, with prices stable to slightly rising.

It is a seller's market, with prices rising at a steady pace.

It is a strong seller's market, with prices increasing rapidly.

What are investment pricing conditions for a good building in your market?

Prices are substantially below replacement cost.

Prices are somewhat below replacement cost.

Prices are approximately at replacement cost.

Prices are somewhat above cost and it is profitable to build.

Prices are substantially above cost and it is extremely profitable to build.

What effects are local economic conditions having on your market's performance?

The local economy is contracting and is a serious handicap to the real estate market.

The local economy is weak and is slowing the real estate market somewhat.

The local economy is in its typical performance range, and is neither impeding nor stimulating the real estate market to a significant degree.

The local economy is strong and accelerating the real estate market somewhat.

The local economy is booming and having a very positive effect on the real estate market.

How do you view the performance of the U.S. economy from the perspective of your market?

The national economy is having a significantly negative effect on my market.

The national economy is having a more negative than positive effect on my market.

The national economy is a neutral influence on conditions in my market.

The national economy is having a more positive than negative effect on my market.

The national economy is having a significantly positive effect on my market.

What do you think market conditions will be like for your market in the next quarter?

Much Better - Activity to improve by 11-15%

Better - Activity to improve by 6-10%

Minor Improvement - Activity to improve by 1-5%

No change from last quarter

Slight Decline - Activity down by 1-5%

Worse - Activity down by 6-10%

Much Worse - Activity down by 11-15%