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Commercial Real Estate Forecast Uncertain
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The recent deep economic downturn has had a pronounced impact on commercial real estate sectors, but credit availability is the big unknown that will determine how soon commercial markets recover, according to the National Association of REALTORS.
Lawrence Yun, NAR chief economist, said some initial movements earlier this week in commercial mortgage-backed securities are encouraging. "The first commercial mortgage bond deal in over a year shows the Federal Reserve’s efforts to sell securities through the TALF program can be fruitful, but the level of activity is well below what is required to resuscitate the commercial market. Credit availability needs to significantly rebound for any hope of a meaningful commercial recovery in 2010."
For more information and a complete summary of the latest commercial data by sector, see the full NAR news release.
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LR Releases 3Q Statewide Real Estate Trends Report
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Louisiana REALTORS has published its third quarter Real Estate Trends report for 2009, available for download in PDF format here. Among the information included in this quarter’s report: sales statistics for Louisiana’s eight metropolitan areas, perspectives on the national real estate picture, employment and foreclosures information, a recap of major economic development projects in Louisiana during the fall, and a special feature on the 2010 census by demographer and political analyst Elliott Stonecipher. Click here to download your copy. For more information, please contact Kevin Calbert at 800-266-8538.
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Viable Solutions to Depressed Capital Markets?
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With daily reminders of gloom and doom regarding the economy's current state, bank closures, and frozen credit, is there light at the end of the commercial lending tunnel? In the latest issue of the CCIM Institute's CIRE Magazine, real estate investment banker Steve Bram discusses possible solutions to today's puzzling commercial finance market.
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Commercial Loan Defaults Highest Since 1993
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The default rate on commercial real estate loans held by banks hit 3.4 percent in the third quarter, up 0.52 percentage points from the second quarter, according to research firm Real Estate Econometrics. At 3.4 percent, the default rate is the highest it has been since 1993 when it hit 4.1 percent. The default rate on apartment buildings is even higher, reaching 3.58 percent, up from 3.14 in the second quarter.
Real Point Chief Economist Sam Chandan says not all banks' books of commercial business are in trouble because some with large exposure to commercial real estate managed their investments well, including conservatively analyzing loans and holding the borrower accountable for payment. (Reuters)
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Commercial Webinar, Dec 9: Building Effective Client Relationships
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Everyone talks about how it is a "relationship" business, but no one ever really explains what that means or how to become the trusted advisor for every transaction in your market niche. NAR will be presenting a practical webinar next Wednesday December 9 that opens the door to a career of successful client relationships, teaches you to think and act strategically, and shows you how to prosper in the market as an entrepreneur. "Building Effective Client Relationships" featuring guest panelist Duke Kuehn is scheduled for 11:30 am, Wednesday December 9. Learn how to determine the most promising market niches and ways to develop relationships and increase your competitive advantage with this 1-hour webinar. To register online click here.
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This week's REALTOR® events and activities...
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