As the first quarter draws to a close, three CRE trends are gaining attention in the Phoenix market and provide examples of the ever-changing landscape to which landlords and investors must adapt. CRE Trend #1: Default Concerns Rise Concerns about possible multifamily defaults have been brewing for months, and we are finally starting to see notices of receivership sales. While the fall's One Camelback development was the most high-profile development to date, this CRE trend is closer to the beginning than the end. Vacancy rates are rising and average asking rents were down 3.7% year-over-year through November, the second-worst performing…
Author: Private Lending Agent
GreystoneGreystone Real Estate CapitalGreystone Real Estate Capital (LR) – Mike Callahan, Ben Jarvis, Michael Egidi and Spencer GordonNEW YORK, March 18, 2024 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance firm, announced that its Low Income Housing Tax Credit (LIHTC) syndication platform, Greystone Real Estate Capital, has added four senior members to its team: Mike Callahan has been appointed Senior Vice President, Director of Investment Management, Benjamin Jarvis has been appointed Senior Vice President, Developer Production, Michael Egidi has been appointed Vice President, Investor Production, and Spencer Gordon has been appointed Vice President, Director of Credit &…
They say perception precedes reality. In the case of commercial real estate finance, then, the divergent opinions surrounding the health of capital markets has produced gossip, innuendo, rumors and fear. “Doom loop,” “meltdown,” “downward spiral,” “debt bomb” and “banking crisis” are phrases that regularly appear in articles attached to underwater multifamily portfolios or summaries of heavily leveraged office towers whose rents can no longer service their debt. That, in turn, fosters the belief that the loans provided by banks and private lenders are unlikely to ever be paid back in full, thus putting the greater economy at risk. SEE ALSO: David Ellison’s…
Over the past three years, Los Angeles has led the world in commercial real estate transactions despite a global spending slowdown.More than $96 billion in commercial real estate transactions worth $5 million or more took place in Los Angeles between 2021 and last year, excluding land and entity-level transactions, CoStar News reported, citing a global study by JLL.Los Angeles topped the list, followed by Dallas with $91.2 billion, New York with $80.7 billion, and London with $77.9 billion. Paris ranked sixth and Phoenix seventh, according to JLL's Global Real Estate Outlook report.”These cities have emerged as the world's top markets…
Credit/Adobe Stock. Last year was a slow one for commercial lending, but credit unions managed to gain a small market share despite low loan volumes. But delinquency rates are starting to rise. According to the MBA report released March 14, real estate-secured commercial loans held by all lenders as of Dec. 31 were $4.69 trillion, up 2.8% from a year earlier. Jamie Woodwell, head of commercial real estate research at the MBA, said commercial mortgage debt grew at its slowest pace since the mid-2010s over the past 12 months and the final three months of this year. Jamie Woodwell “All…
SNP Ministers forced to explain 'overturning' controversial South Uist house Calendar Icon of a desk calendar. Cancel Icon of a circle with a line through it. Caret Icon of a block arrow pointing right. Email Icon of a paper envelope. Facebook Icon with a Facebook 'f'. Google Icon with a Google 'G'. Linked In Icon with a Linked In 'in'. Logout Icon representing logging out. Profile Icon resembling a human head and shoulders. Phone Icon of a traditional telephone receiver. Check Icon with a checkmark. Publish Icon of a human eye and eyelashes. Private Icon of a human eye and…
Automated valuation models (AVMs) have been around for a while in the residential real estate industry. The first publicly-available AVM was released by Zillow in 2006. Interestingly, the goal behind creating this valuation algorithm was not to actually help people value their homes, but to create controversy. Zillow's founders later admitted that they thought showing people's estimated home values would create a stir and drive more traffic to their website. They were right. On the first day that “Zestimate” was released, the website saw over 1 million views. By the fifth day, views had reached 2 million. Since then, Zillow…
Set amid the beautiful landscapes of Idaho, Hells Canyon State Park serves as the gateway to Hells Canyon, the deepest river canyon in North America. Straddling the Idaho-Oregon border, the state park offers a rich blend of breathtaking scenery, thrilling outdoor activities and a rich tapestry of history that will captivate adventurers and nature lovers alike. Natural beauty and adventure Geography and Scenery: Hells Canyon State Park features dramatic, rugged terrain. The Snake River runs through the park, carving a canyon through layers of volcanic rock that define the landscape. Towering cliffs and steep canyons provide a spectacular backdrop, and…
Median Price When looking at the market, keep in mind that median prices have limitations, especially when looking at a short period like a month. Medians don't allow you to make apples-to-apples comparisons. Just because the median is currently $450,000 (this is an example, not an actual number) doesn't mean it's the same type of home that was bought last year for $460,000. People might just be buying smaller or bigger homes. So it doesn't tell you if prices have gone up or down. But it does tell you how buyers' needs have changed. Competing Offers Competing Offers Percentage is…
Home resales in Calgary's booming real estate market have surged to the highest level of any major metropolitan area in the country, according to the latest data from the Bank of Canada.The latest statistics show that 6.5 per cent of homes sold in Greater Calgary were resold within 12 months.This is the highest level among major cities since at least 2014, according to data published by the bank.The figures come as no surprise to Jason Schmilko, a Calgary-based real estate agent who specializes in helping clients buy homes and resell them at a profit.When asked what the current state of…