I am a Commercial Real Estate broker specializing in apartments. The values of apartments in Portland, Oregon have dropped in value anywhere from 30% to 50% and are continuing to decline. Declining rents, rental concessions, lender underwriting and investor return requirements all have contributed to the deflating values. In many cases, value is less than the loan balance, but; since their loan is very attractive, they are able to keep the asett going!
Owners are hoping for devine intervention for the investment real estate market to return to 2005, 2006 & 2007 values and thus move forward. I feel that the market will not return to thoes value levels for at least 15 to 20 years and maybe not in my life time.
Any suggestions on how to convince owners they should move out of their holdings before they loose everything!
Investment Real Estate
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Investment Real Estate
by loco on Mon Jul 20, 2009 2:15 pm
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