Portland Business Journal - by Jeff Clabaugh Contributing writer
Despite falling housing prices, the limits on what are considered conforming mortgages won't change for 2010.
Read More »Sheryl-Nance Nash
What's most striking about the commercial real estate market is how quiet it is.
"It's like a storm is brewing and it has everyone standing on the sidelines," says Bob Spratt, president of commercial real estate firm Hill Partners Inc.
Real estate professionals are less confident the industry will improve in 2010.
A quarterly survey by LoopNet Inc. (NASDAQ: LOOP) found only 50 percent of respondents expect the volume of commercial real estate transactions to rebound in 2010. In July, 66 percent expected a 2010 recovery.
The survey was conducted with more than 1,000 real estate brokers, investors and owners and was conducted in late October.
Read More »Commercial real estate values around the country have dropped 35 percent from their peak in October 2007, according to Moody’s REAL Commercial Property Price Indices.
The decline appears to be accelerating as the index dropped more than 15 percent during April and May. Transactional volume also fell along with value, which is showing signs of effects from distressed sales.
“May marked a new low for both counts,” the report said.
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