Back to the Beach – The Hangover in Vacation Homes
The front page of yesterday's Wall Street Journal reported that there has been a steep increase in the sale of vacation homes, with sales volumes, for example in Palm Beach, FL experiencing a rise in activity that brings it on par with the 2007 peak. Markets like Hilton Head, SC; Mercer Island, WA; and Cape Cod, MA are all realizing significant gains in sales volume. The catch is that prices haven’t budged. But the reality is that once the demand cycle gets into gear, prices will eventually begin to escalate. With the beginnings of a recovery in the second home market, there is hope for the homebuilding business in the Sunbelt, although only after the inventory gets cleaned up, which still may take two or three years. More sunscreen please.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.

ANDREWS INTERNATIONAL
Business Development Professional
(ADDISON, TX) The development professional will impact the profitability of the region through ensuring strategic and tactical management decisions and new business development results; lead our branding and marketing efforts within the respective region; and source, develop and implement new business opportunities; among other duties.

JONES LANG LASALLE
Director of Operations
(SAN FRANCISCO) The director will ensure consistent service delivery and client satisfaction across the portfolio by having robust processes implemented and partnering with other account leaders; ensure JLL and client quality standards are met; create high performance teams; and oversee the operation, staffing, performance and development of the facility management service delivery team; among other duties.

SELECTLEADERS
Property Manager
(PITTSBURGH) The manager will assist the regional property manager in directing and coordinating on and off-site property management activities for the bank's branches; ensure the efficient operation of the property by providing the highest quality product and client/tenant service while controlling expenses.; and maintain exemplary relations with all tenants, clients, staff and vendors, utilizing effective customer service and communication skills; among other duties.

THE KABR GROUP
Acquisitions Associates
(PARAMUS, NJ) The associate must have two to four years of real estate acquisitions experience, and be highly-proficient in financial modeling - including Microsoft Excel and Argus; and advanced written and verbal communication skills.

COMCAST CABLE COMMUNICATIONS
Director, Facilities Management
(PHILADELPHIA) The director will identify and implement best practices in facility management across the portfolio; provide best practice facility management advice to field facilities management personnel; and assist field facilities management and legal department with ongoing code compliance issues – environmental and building systems; among other duties.

NATIONAL COUNCIL OF REAL ESTATE INVESTMENT FIDUCIARIES
Director of Research
(CHICAGO) The director of research will be responsible for maximizing the relevance and the usefulness of all available data collected; developing and maintaining relationships with members of the academic community at major universities across the country; and maintaining strong relationships with the research directors at member companies, as well as other real estate organizations; among other duties.

LNR PROPERTY CORP.
Senior Analyst
(MIAMI BEACH, FL) The senior analyst will track loan and property-level information, including financial statements; analyze property financial statements and rent rolls for specific loans, such as those with multiple properties, business loans and watch list loans; and prepare select property loan valuations in LNR's proprietary cash flow model for review by asset manager; among other duties.

GRUBB & ELLIS
Legal Counsel (litigation)
(SANTA ANA, CA) The legal counsel will supervise all new and pending litigation matters to resolution; examine cases to determine advisability of defending or prosecuting lawsuits; determine, advise on and conduct legal action necessary to best protect the interests of the company and its clients; engage and supervise outside counsel; and develop appropriate case management and litigation strategy; among other duties.

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