Posts tagged as:

commercial foreclosure

California Hotel Foreclosures Triple in Travel Slump

by Moe Bedard

Hotel foreclosures in California more than tripled in the first nine months of this year as business travelers and vacationers cut spending.
Foreclosures including the 400-room St. Regis Monarch Beach resort in Dana Point climbed to 47 in January through September from 15 a year earlier. Properties in default more than quadrupled to 259, Irvine, California-based [...]

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IRS Issues Rule To Aid Commercial Real-Estate Sector

by Moe Bedard

Owners and developers of commercial real estate will now have more flexibility to rework their mortgages or obtain loan extensions under a new federal tax rule, a change that could aid the troubled sector.
The new rule, issued by the Internal Revenue Service, will affect loans backed by shopping malls, office parks and other commercial properties [...]

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For Commercial Real Estate, Hard Times Have Just Begun

by Moe Bedard

As the commercial real estate market heated up earlier in the decade and lenders competed feverishly to issue ever-riskier mortgages, hundreds of bankers, investors, lawyers, brokers, appraisers, accountants and analysts flocked to an investors’ conference in Florida each January to celebrate their good fortune with lavish beach parties featuring bikini-clad models and popular entertainers.

But in [...]

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Commercial property execs expect more bad news

by Moe Bedard

* 93 pct say real estate values are lower than last year
* 82 percent say values will continue to deteriorate
NEW YORK, Aug 5 (Reuters) – An overwhelming majority of U.S. commercial real estate executives believe their industry is suffering and expect it get worse, according to a survey by the Real Estate Roundtable released on [...]

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Commercial Foreclosure Explosion Lurking Around the Corner?

by Moe Bedard

By Moe Bedard
A great number of experts have placed the blame on the foreclosure crisis in America on the problems associated with mortgage backed securities. When the real estate markets decline, purchasers of these securities disappear and when foreclosures escalate, losses in mortgage backed securities run deep. This is a cycle that is difficult to [...]

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What’s the latest fitness craze? The loan workout

by Moe Bedard

Brownstone and other local loan workout specialists have their hands full these days. With condo sales stalled and commercial building values eroded across the region, antsy lenders have been quick to put projects on watch lists at the first sign of trouble. Those signs could be anything from insufficient sales or leases to slashed asking prices that could make a project unprofitable.

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REAL ESTATE: HOMEOWNERS HAVE COMPANY

by Moe Bedard

Vacant land owners make up the bulk of commercial property defaults in Las Vegas, said Travis Nelson, assistant vice president of commercial sales at Nevada Title Co.

“There’s no income from the land. It’s hard to carry. You have a lot of higher-interest loans from private sources and hard money lenders,” Nelson said.

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Tough ‘09 Is Seen for Commercial Real Estate

by Moe Bedard

This year will be among the worst for the U.S. commercial real estate industry, as unemployment leads to a drop of as much as 30 percent in rents in some places and more office towers from Washington to Chicago and Los Angeles sit empty, according to several research reports from large commercial real estate service companies.

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Commercial Foreclosure Tsunami on the Way

by Moe Bedard

Looks like the commercial mortgage arena will have a rough year in 2008. It is only the next logical foreclosure wave to hit the US and this tsunami may be the mother of all waves that drowns what’s left of our economy.
Reuters – Commercial property loans originated in 2005 to 2007 that increasingly carried [...]

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