Money is Burning a Hole in OC Investors’ Pockets

Ten-X Commercial’s Jim Palmer said, “Real estate is the second-oldest profession and it’s very much relationship driven. It has been a slow adopter to technology.”

COSTA MESA, CA—While the beginning of the year was quiet as investors regained their footing following the election, the number of investment transactions in the Orange County market has picked up since the summer, said speakers at RealShare Orange County here last Thursday. Speakers on the panel “Capital Markets: Technology, International and Private Investing Spur Growth” said the market is still a strong draw for both domestic and international investors.

The market is very active in refinancing and purchases, but long escrows have been a challenge because lenders only want to lock rate for 60 to 90 days, said Michael Derk, senior managing director, capital markets, for Institutional Property Advisors, a division of Marcus & Millichap Corp. “Buyers are getting fickle in secondary areas and are looking at the fundamentals more.”