Tweet For those of you who have been reading this blog lately you will know that the overpriced deal of the week was already announced on Tuesday. To call Moreno Beach Plaza overpriced would be like saying Fresh & Easy is underperforming. So in honor of this new and (potentially) recurring post, I present you [...]
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Tweet I just read a post on the CRE blog Net Lease Nation talking about the upcoming holiday season. Apparently, Fitch Ratings is bullish on the retail sector: “Many companies across Fitch’s U.S. retail coverage have been managing inventory positions well. Gross margins have rebounded for those companies in the discretionary categories that were hit [...]
Tweet Lately I have been receiving a high volume of calls from appraisers. Appraiser calls are nothing new. Normally, I receive a handful a month calling to ask questions about properties I have sold or asking for my opinion on a particular property they are trying to value. Now, I am receiving several appraisal calls [...]
Tweet This is unbelievable. I just got a call a few minutes ago from one of the listing brokers of the property outlined in my post from yesterday. He politely asked that I take down their marketing brochure and was nice enough to state that he is fine with the fact that I posted my [...]
Tweet I presume investors will be lining up to get a shot at this beauty. The good news is that the property is zoned M-1 (light manufacturing) so if you can’t stabilize with the currently approved use you can convert the building into a manufacturing facility making the products that will be used in other [...]
Tweet These guys (CREOBA) never cease to amaze me. They are now offering commercial REO certification courses. Certified by whom, I have no idea. Do the banks know about this? Doubtful. Will they recognize the just-created designation? Doubtful. Do the CREOBA members organizing or leading these seminars know what they are talking about? Doubtful. I [...]
Tweet Today, Moody’s Investors Services posted its most recent Moody’s/REAL Commercial Property Price Index. The results show continued price declines in US commercial real estate across the board. According to the report, CRE values are now 30.8% below those of 1 year ago and 38.7% below peak levels of October 2007. I found this article [...]
Tweet Retail News Blog put up good post this morning titled Capitalization Rates Without Market Activity which addresses the problem in the marketplace of determining property values with little or no market data available. With fewer and fewer sale transactions taking place, appraisers are left in the dubious position of valuing property without comparable sales [...]
Tweet Kevin Kleen has a good post up today about the market stability of college towns. He references an article from The Creative Class which looks at unemployment rates in various cities. I’m going to stop short of saying that the article concludes that college towns are definitively recession-proof but I do believe the data [...]
Tweet This is an interesting chart. I don’t think it means these other countries don’t have problems but I do think it means our problems are significantly larger than most. The chart could also be used as a springboard for social commentary on the consumerist nature of Americans. (HT – Zero Hedge)
Tweet Another email in my inbox today from CREOBA. The reason I think this is newsworthy is twofold. First is the predatory tagline of their upcoming dinner: “Is the commercial real estate market about to collapse?” The second is the fact their guest speaker is a residential auction specialist. Did I mention that I love [...]
Tweet I received an email from someone at the CCIM Institute this morning to let me know that others have been questioning the merits of the Commercial REO Brokers Association (CREOBA). Apparently several people have been wondering just what the CREOBA organization is and whether or not they have any credibility whatsoever. Since I found [...]
Tweet Over the past 6 months or so, I have seen many brokers list deals at values that just save the hides of their owners. What I mean by this is that if the property sells at the listed price, the seller can get out and pay off his debt and maybe even walk away [...]
Tweet Today’s economic news in not good. Heavy job losses reported for June sent the stock market down. California is about to start issuing IOU’s and state workers have been ordered to take another (3rd) mandatory day off each month (the forced 3 day vacations translate to about a 14% pay reduction). Yesterday’s auto sales [...]