J. Andrew Hansz, Ph.D., CFA, MAIRobert M. Stanton Chair of Real Estate

Director, E.V. Williams Center for Real Estate

Sentiment Survey

Hampton Roads Real Estate Markets Sentiment Survey: Spring 2016

created and collected by, the E.V. Williams Center for Real Estatesponsored by, Valbridge Property Advisors

Q.2. Please identify your primary Hampton Roads real estate activity (select one).

0% 5% 10% 15% 20% 25%

Consumer-agriculture propertyConsumer - commercial propertyConsumer - homeowner or renter

Consumer - industrial propertyEntrepreneurial (Developing)

GoverningInvestingLending

Professional appraiserProfessional architect

Professional - broker/salesProfessional - civil engineer

Professional - consultantProfessional - law

Professional - property managementSuccessor entrepreneurial

None of the aboveProfessional accountant

No Response

Percentage of Participants

Real

Est

ate

Act

ivit

y Primary Hampton Roads Real Estate Activity: Spring 2016

n = 133

Q.4. Please identify your primary real estate market affiliation (select one).

0% 5% 10% 15% 20% 25%

Agriculture

Industrial

Land

Multi-family residential

Office

Retail

Single-family residential

No Response

Percentage of Participants

Ham

pton

Roa

ds R

eal E

stat

e M

arke

tsPrimary Market Affiliation: Spring 2016

n = 133

Q.5 and 6. Rate current and anticipated 6 month sentiment levels for the following Hampton Roads real estate market segments.

1 2 3 4 5

Agriculture

Industrial

Land

Multi-family residential

Office

Retail

Single-family residential

Anticpated Overall Average

Average Sentiment - Present and 6 Month Projection: Spring 2016n=133

Avg. Current Sentiment

Avg. 6 mo. SentimentProjection

Negative Mild Negative Neutral Mild Positive Positive

Q.7. Over the next 6 months, which Hampton Roads real estate property sector has the best investment potential (select one).

0% 10% 20% 30% 40% 50%

Agriculture

Industrial

Land

Multi-family residential

Office

Retail

Single-family residential

No Opinion

Percentage of Participants

Real

Est

ate

Mar

ket

Segm

ents

Best Hampton Roads Investment Potential - Next 6 Months: Spring 2016 n= 133

Q.8. We would like to understand your anticipated real estate usage over the next 6 months. Please indicate if you plan to expand or contract your use or ownership space (please answer each row).

0 20 40 60 80 100 120

Agriculture

Industrial

Land

Multi-family residential

Office

Retail

Single-family residential

Number of Participants

Ham

pton

Roa

ds R

eal E

stat

e M

arke

tsAnticipated Real Estate Usage Changes, Over Next 6 Months: Spring 2016

n = 133

No Changes

Contract

Expand

Do not own or lease

Q.9. Over the next 6 months, what is your expectation for the change in general mortgage interest rates (select one).

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Decreasing

No Change

Increasing

Percentage of Participants

Chan

ge E

xpec

tati

on

Expected Change of Mortgage Interest Rates Over Next 6 Months: Spring 2016n = 133

Q.10. Please choose the statement below which best reflects the impact of sea-level rise and your Hampton Roads real estate interests (select one).

0% 10% 20% 30% 40% 50%

No impact

Minimal impact

moderate impact

Severe impact

Percentage of Participants

Leve

l of

Impa

ctImpact of Sea-level Rise on Personal Hampton Roads Real Estate Interests: Spring 2016

n = 133

Special thanks to, ValbridgeProperty Advisors for

sponsoring the Hampton Roads Real Estate Markets

Sentiment Survey.

E.V. Williams Center for Real Estate2088 Constant HallNorfolk, VA 23529

www.odu.edu/business/center/creed

2016 Hampton Roads Real Estate Market Review & Forecast