The Founder of Bay to Bay Properties, Joe Faw shares his thoughts below on how 2021 will look.
“2020 was an interesting year to say the least.
Going forward into 2021 we have been able to deliver on some of our stated goals of 2020; Our commitment coming out of this pandemic will be to message more frequently, better and more effectively so the vision and the passion of Bay to Bay is prevalent and engrained into the way we live our lives. Some of the ways we have done this and will continue are.; Quarterly Pulse video, Newsletters, New Team member greetings, more formal and valuable feedback and an overall commitment to accountability. Bay to Bay is pleased to announce over 10 new team members that were added in the last 90 days and we are projecting to add 6-12 new members over the next twelve months.
Real estate conditions are still in a state of uncertainty as we enter 2021. Some segments of commercial real estate will continue to have a difficult time recovering with other segments on fire. Bay to Bay is pleased to report that our pre-construction departments project volume has returned to Pre-Covid numbers and we are seeing strong demand for 2021 projects and beyond. With GDP expected to grow by 4-6% in 2021 and the South East United States continuing to be a growing geography Bay to Bay is well positioned as the construction company of choice.
The Covid 19 pandemic should subside by mid 2021 through the use of medical solutions and additional fiscal support by the US government. In addition, interest rates are projected to stay at historical low levels through 2023 with inflation considered by most to be negligible. Cap rates will stay at a low level during this time but underwriting standards from financial institutions will tighten.
As a company we are continuing to focus on: The right people, The right seats and the right projects. We will navigate uncertainty with our eyes wide open and with the ability to shift, tweak or pivot when needed. Our team and our team’s families are committed to changing the construction experience one project at a time, The Bay to Bay Way. All Day
#BaytoBayStrikesBack”
To learn more about Bay to Bay please visit https://baytobayproperties.com/.
