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Archive for the ‘Good News!’ Category

Distressed Commercial Real Estate Assets Jump 15%

Thursday, February 25th, 2010

FEATURED AUTHOR:   Mark Heschmeyer

The amount of distressed commercial real estate assets on the books of the nation’s banks and thrifts approached $60 billion as of year-end 2009. That is up from $52 billion just three months earlier, a 15% increase.

The $59.9 billion includes loans on multifamily and nonresidential income producing-properties that were 90 or more days past due, or in nonaccrual or foreclosure status.

The year-end numbers are contained in the Federal Insurance Deposit Corporation’s latest Quarterly Banking Profile, released this week. And they confirm that commercial real estate troubles are eroding the balance sheets of the nation’s banks.

As the CRE distress numbers went up, so did the number of troubled institutions on the FDIC’s “Problem List.” At the end of December, there were 702 insured institutions on the Problem List, up from 552 on Sept. 30. In addition, the total assets of “problem” institutions increased during the quarter from $345.9 billion to $402.8 billion. Forty-five institutions failed during the fourth quarter, bringing the total number of failures for the year to 140, the highest annual total since 1992. (more…)

Commercial Property Tax Relief Is Here!

Friday, November 13th, 2009
Property tax, investment, great deal, apartment, commercial real estate

Taxes, Taxes, Taxes

The last couple of years have taken a toll on investment properties. With vacancy rates climbing and weakening Cap Rates, some properties have lost 30% or more of their value.  Regrettably, property taxes on commercial properties have not been adjusted to reflect this new value. As such, already strapped owners are paying an even higher percentage of their revenues to property taxes.

The rule I have always given my teams is don’t present me with a problem…unless you also have a solution.  Having identified a problem…here’s a great solution: Prime Property Tax Negotiation, LLC.  Prime PTN was formed to be an advocate for property owners that have been over-taxed. They will evaluate your taxes at no charge to you and fight for a lower assessment on your part.  There are no up-front fees.  Here’s the very best part: There’s no cost to you unless they are successful. 

Contesting assessments that overstate a property’s value is an extremely important component of wealth management.  I worked on a multifamily project in Phoenix, AZ that had an assessment that inflated the assessed value well over what it was really worth. By contesting the assessed value we reduced taxes and created over $150,000 in additional profits in one year.

How much will you benefit? To discuss potential savings call 503.336.6382 and ask for information about Prime Property Tax Negotiation, LLC.

Grace Hill’s training creates professionals!

Wednesday, June 10th, 2009

Grace Hill TrainingGrace Hill does it again! 

One of the challenges of multifamily management is creating knowledgeable and professional employees.  Each month Grace Hill offers free training as a partial solution to the problem.  They also offer additional training on a variety of multifamily topics at affordable prices.  This month Kate Good & Jennifer Stamp will be presenting information on marketing, advertising and promotions.  I feel that apartment owners should change their “I can’t afford training” refrain to: “I can’t afford not to train!”  Why would anyone let someone be in charge of a multimillion dollar asset and deny them the resources to perform their job with excellence?

DATE/TIME: Wednesday, 6/17/09 @ 4pm ET, 3pm CT, 2pm MT, 1pm PT

SESSION DESCRIPTION: No need to rack your brain over advertising and promotions any longer.  Sign up for this exceptional chat experience and let these marketing gurus lead the way to unique and original campaigns that will certainly bring customers running through your doors.  Flex your marketing muscles and RSVP now!

COST: Spherexx.com and Video Rental Services have made this chat available to you at no cost.  Thanks for your sponsorship!

RSVP: Visit them at www.gracehill.com and look for the details of this event on their home page.  Click the RSVP link to sign up and receive Chat Event Instructions.  Then, log into Grace Hill about 10 minutes prior to the event and click on the Chat Room link, under the chat description, to be delivered to the Chat Room.  

*Please note that space is limited to 350 attendees in our chat room.  Be sure to login to the chat room 10–15 minutes prior to the event.

Rose City Commercial Real Estate supports all efforts to improve the effectiveness of multifamily pros.  If you would like to work with a pro, contact Rick M. Bean at 503.577.1034 or rick@rosecitycre.com

Property Tax Savings


Let Prime Property Tax Negotiation be your advocate. We’ll fight on your behalf to reduce your property taxes and charge you no up front fees.

We found a $156,000 overpayment of taxes on a property we recently reviewed…how much can we save you?

Start saving today, call or email us at:

503.577.1034
info@primeptn.com
www.primeptn.com

Affiliations

Rose City Commercial Real Estate is proud to be affiliated with both Lackman Commercial and Keller Williams Commercial . The Lackman Group has created something truly special. They have installed technology solutions to permit cross office brokerage teams to tackle problems with in house experts. There is a higher degree of vertical integration than seen in even the national firms. I act as a multifamily specialist, while Robert Poe is the anchor for distressed properties and ministorage opportunities. We work with other specialist to create amazing synergy. With it's national network Lackman Commercial offers unmatched depth and breadth of service.
Charles A. "Mac" McClure, turned over the reins as President of CCIM...to become a KW Commercial Broker. When the leader of the most trusted organization in Real Estate joins your group, everyone's spirits are lifted. Like Lackman, KW Commercial is an organization on the way up!

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