Real Estate News by GLG Council Members

Steve BottfeldPrincipalMarketing Solutions

Las Vegas: Beyond the Bottom!

October 20, 2009

Analysis of:ECONOMIC INDEX NOW POINTING POSITIVE | www.lvrj.com

     In a week in which Las Vegas learned the local unemployment rate had skyed to 13.9% … passenger traffic at McCarran Airport slid 1.2% … and Nevada bankruptcy filings jumped 64% in the last nine months …. September housing market data actually comes as relatively good news.      At worst, Las Vegas is scudding along a bottom like a sailboat on choppy water. At best, it may be in recovery.      The key statistics: Prices appear stable. Inventory is still dropping. Sales continue to be strong.

Why should home prices drop ?

October 20, 2009

Analysis by: GLG Expert Contributor

Analysis of:An Englishman's Home Is His Castle in the Air | online.wsj.com

This article, like others seen in international press, questions the reasons for home prices not to drop as per past forecasts.Homes in Europe, included Spain which is arguably the hardest hit from this crisis of the construction department, have not dropped in prices as much as initially foreseen. Drops normally range 8-10%, vis a vis a 30% tragic forecast of several months ago.Home prices do not drop simply because consumers look for low risk investments, and homes are quite safe.

Robert CanterPresident-FounderPerformance Realty Solutions, LLC

Who is kidding who regarding a recovery in commercial real estate

October 18, 2009

Analysis of:Bank failures drain FDIC insurance | www.washingtontimes.com

Many so called pundits are still optimistic about commercial real estate making a dramatic recovery in 2010. Nothing could be further from reality

Oversupply Hits Many Other Glitzy Markets

October 16, 2009

Analysis by: GLG Expert Contributor

Analysis of:Quarter of homes lying empty in Dubai | business.rediff.com

The 25% vacancy rate in Dubai is one more outcome directly related to hyperinflation in housing which is unsustainable in the new era of illiquidity. Even the previously unassailable American conclaves of wealth, privilege and luxury (Vail Village and Aspen, Colorado) show the inevitable drag of diminished wealth and the painful consequences of de leveraging, and moreover the fear that the worst is far from over. Market forces, regardless of the pain are the only lasting corrective measures.

Tough times not over, sorry.

October 16, 2009

Analysis by: GLG Expert Contributor

Analysis of:Asian Reits rebound after tough times | www.ft.com

Foreigners fleeing Japanese REIT market or just being kicked out?

Is Taking Vacant Space off the Market a Viable Alternative for Some Owners?

October 15, 2009

Analysis by: GLG Expert Contributor

Analysis of:Commercial Real Estate Poised to Disappoint | www.taipanpublishinggroup.com

As property and portfolio budgets are being revisited and solutions to cash flow problems considered, Commercial Real Estate owners are faced with difficult challenges. Having to give a property back to the bank is a terrible decision to have to make. Alternative solutions include cash calls from partners and even deciding to not actively market space unless tenant's can take the space "as is" at reasonable rental rates i.e. "moth-balling" space.The last chapter has yet to be written.

Kenneth LeonardPrincipalLeonard Associates

So The Sky Isn't Falling Quite Yet

October 15, 2009

Analysis of:Store Closings Likely To Peak in First Half of 2010 | www.printthis.clickability.com

Year-to-date , the U.S. retail industry saw 3.408 store closings, according to the ICSC. The number of closings is far short of the 10,000 to 12,000 closings many experts projected in late 2008. However this article indicates that 2010 may yet turn out to be even worse.

Land, Although They're Not Making More Of It...

October 15, 2009

Analysis by: GLG Expert Contributor

Analysis of:Builders Grounded By Land Prices | online.wsj.com

The problem is less a question of land, and more of valuation.Not all firms are equally affected.

David LereahPresidentReecon Advisors

Homebuyers Expecting Too Much out of the Recovery

October 15, 2009

Analysis of:Homebuyers Overly Optimistic about Future Home Values | www.realestateeconomywatch.com

The Case-Shiller home price index has increased sharply during the past several months, suggesting that homebuyers are expecting future home values to rise. A recent homebuyer survey confirms that homebuyers expect home values to significantly rise over the next 10 years and I worry that they are becoming over exuberant once again.

This article is right on regarding falling Commercial Real Estate sector

October 15, 2009

Analysis by: GLG Expert Contributor

Analysis of:Commercial Real Estate Poised to Disappoint | www.taipanpublishinggroup.com

Considering the conditions needed for a recovery in commercial real estate – specifically, falling unemployment and rising consumer spending – even optimists are pointing to the third quarter of next year as the beginning of the upswing. The good news – things may not get worse between now and then.

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