Archive for the ‘Real Estate’ Category

The majority of communications and negotiations in a real estate transaction are now distributed through emails. So, what exactly is considered binding? Read More…

According to Jim Helsel, 2010 NAR Treasurer, commercial real estate sales are on the rise. Third quarter sales are up 30% over second quarter 2010, and have steadily risen since the first quarter 2009. Helsel expects that by the end of Read More…

While commercial real estate has its struggles Nation Wide, and in St. George, Utah, some economists predict that the market could see signs of steady improvements, particularly in commercial lending.

At a recent Commercial Real Estate Business trends Form at the 2010 REALTORS Conference & Expo, Chief Economist for the NAR, Lawrence Yun said Read More…

When does it make sense for a bank to sell a loan, or to hold and manage it?

As many commercial buildings are in default, banks are faced with the decision of whether to hold or sell specific loans. Generally, banks take a look at the Net Present Value of the building. They estimate what the property is worth in today’s market, the cost that it will take to stabilize, and then manage the asset. They then compare that to the cost and time associated with the foreclosure process (which in some cases may take over a year). Most times, it makes more sense to sell the loan as opposed to holding onto the property as a lender.

For a full list of foreclosure, distressed, bank owned properties in St, George and Southern Utah, contact Brandon Vandermyde (435) 627-5735

In the recent past, even with bank owned distressed properties becoming more and more available, there has still been a shortage of buyers in commercial real estate. The tides are starting to turn, and more and more investors are seeing opportunities to purchase bank owned and distressed properties, and make them cash flow by offering lease rates below average.

Nationally there are more and more institutional buyers that are coming out of the woodworks, as they believe the bottom has hit. Once there are multiple buyers for properties that are priced well, we will see the prices start to rise.

Locally in the St. George Market, if a commercial property is priced well we are starting to see several competing offers. The “low ball” offers are not even being considered because there are more and more investors that understand the true value and potential, and are willing to make more competitive offers in order to seal the deal.

For a list of distressed or bank owned commercial properties in St George Utah, contact Brandon Vandermyde 435-627-5735