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Commentary with

September 18, 2009
Florida Realtors' Cynthia Shelton
So, how's business lately? Respondents to last week's Quick Poll question aren't quite so positive on the question, with 70% responding that "it's a long ways out" while the other 30% indicate "we're definitely seeing an upturn." Cynthia Shelton, president of the Florida Association of Realtors and director of investment sales with Colliers Arnold in Orlando, sees things from both commercial and residential points of view.

"From the residential side, we have seen 12 contiguous months of increase in transaction volume and three months of increased pricing, although very small. Usually that means we're finally leveling off.

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"We will see some markets where drop, but we're starting to see three to five contracts come in on the housing market. My friends on the residential side tell me they are as busy as they have ever been.

"Commercial always trails 12 to 18 months behind residential. High unemployment is impacting all sectors and availability of financing is another problem. I have buyers that want to buy, but they can't get financing.

"You can get recourse debt, but that require 30% or 40% down and some banks still won't make commercial loans. If we can ever get jobs and financing turned around, we will be doing a lot better.

"The commercial market is still going to be slow for the next 12 months, but there are buyers out there for certain product types. For example, single-tenant net lease product in the $1 million to $3 million range is selling at close to asking price."

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Commentary Library
Real Estate Econometrics' Chandan
November 16, 2009 - 'What is happening with this aid is that it is creating a situation where it may be impossible for Fannie Mae to return to profitability.'
NorthMarq Capital's Scott
November 9, 2009 - 'Occupancy is high relative to office, industrial and retail, but it’s not high relative to the sector’s historical standards.'
EMMES Realty Services’ Harnetiaux
November 2, 2009 - 'For office properties that command premium rates in today’s market, I’d argue that prime location, exceptional service and luxury amenities are all key areas of focus.'
Faris Lee's Rich Walter
October 23, 2009 - 'I don't expect that the luxury goods will take off and be the winners here. You're still going to see the discounters be the winners.'
Stroock & Stroock & Lavan's Campbell
October 15, 2009 - 'What these rules, which were intended to create clarity for a lot of securitization vehicles, would in the CMBS world create a distortion.'