2009 Multifamily Market Projections Available
Hats off to Mr. Mark Barry, MAI…he’s closing in on 5,000 completed Apartment Appraisals. Mr. Barry’s practice is based in Portland, OR, but his projections are followed nationwide. Mark was the featured presenter at Wednesday’s January meeting of the Portland CCIM Chapter. Some quotes from his report:
- “The apartment market is better positioned to hold its own in 2009 than other commercial real estate markets.”
- “The days of 75% to 80% LTV, low debt service coverage rations and underwriting on proforma are now over.”
- “…what happens with the national economy and the Obama administrations success in dealing with the financial crisis will impact all real estate markets in 2009.”
Please e-mail me to get a copy of the report in its entirety: rick@rosecitycre.com
Best of luck to all of us in 2009.
Rick Bean-Rose City Commercial Real Estate