High hopes. I remember a Frank Sinatra song by that name. JFK used it as a campaign theme song in 1960 if I remember correctly. Something about an ant setting his sights on moving a rubber tree plant...something ants are not normally able to accomplish. It was an inspiring song. The New Year, 2014, is like most years in the month of January. We all tend to have high hopes that this year will be better than last. In the commercial real estate business, you have to do more than "hope" to have a positive impact on your future. We plan, we strategize, we resolve to focus on activities that make us more productive. Then we implement or execute. Or we don't. Why are people notorious for making New Year's Resolutions and then not following through? I think the answer is, because it's HARD to do the hard work of business. Most of us don't like "hard." We equate it with PAIN. And it's easier to keep doing the same old things.

Aside from hard work and doing the right things, we have the concept of "timing" in business that is often confused with "luck" because none of us has a crystal ball. Take interest rates for example. We have enjoyed a rather lengthy period of low, low interest rates. Commercial real estate loan rates are in the realm of 4.5-6% currently. But I hear the interest rate drums beating off in the distance.My experience tells me rates can only go up. And there are still so many good buys out there. I don't know what people are waiting for! If you are thinking about buying in 2014, my advice would be to get the ball rolling now. I doubt that we will ever see rates this low again in our lifetimes.  In addition, we are already seeing prices and rents starting to rise. Hope may spring eternal, but now is the time to "act."