FW: [CCIM GEN] Commercial Arena Update

 

 

Thanks, Sean..

_____________________

Sean M. Broderick, CCIM

Pacific Pride Properties

209-642-4133 (direct)

866-579-0796 (fax)

 

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From: CCIM MailBridge on behalf of Pete Alvarez, CCIM [mailto:no-reply@ccim.com]
Sent: Friday, May 02, 2008 6:35 PM
To: sbroderick98@comcast.net
Subject: [CCIM GEN] Commercial Arena Update

 

CCIM MailBridge General Message Fellow CCIM's Snap shot of the Market place by product type: Abundant Economic data this month…some is even encouraging.. Office Segment:  is softening with vacancies rising and absorption falling (medical office's ok …) Retail Market :  concerns about consumer spending continue to rise causing the market to be down from '07 levels   (grocery stores are doing good!)… Multifamily:  healthy, as demand continues to grow faster than supply in most places…rents still increasing.  Supply of condos converted to rentals is being absorbed easily in most metro  as potential homebuyers remain renters due to 1. lack of credit availability, or 2. desire to wait until residential  prices fall further before buying a home... Residential:   …not much good in this sector. Many economists are projecting further declines in values before a market clearing pricing level can be reached…most are projecting this will occur late this year and first half of next year. CMBS/CDO markets still dormant and the life insurance companies are cherry picking but leaving a lot of deals on the table.  Consensus is that commercial real estate fundamentals are still sound   …supply and demand are relatively balanced, delinquencies and defaults are low, Although slower, rents and NOI are increasing   and  the construction arena is not  out of whack w/ projected demand.   Have a great day.   Pete Alvarez, CCIM

 

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