Commercial Listings November 14, 2009
Posted by janey in : second mortgages , trackbackAs of August 2009, a Moody’s forecaster reported that commercial listings are worth 27% less this year. “It’s too soon to call the bottom,” said analyst Connie Petruzziello. The biggest losers in price were industrial (down 20% this quarter), apartment (down 16%) and retail (down 8%). The best opportunities existed in office prices, which increased slightly by 4%. Despite the gloom, the value of commercial office space increased 40% from May to June, which was a promising sign. If you’re a brave risk-taking investor, then this real estate course of action may be the one for you. If you like to play it close to the chest, then you may need to wait out the storm before becoming a property baron.
Many first-time investors like to go through a licensed real estate investment property broker when dealing with expensive commercial listings. The three biggest real estate franchisers are Century 21, Coldwell Banker and RE/MAX. Century 21 offers overseas property listings in 60 countries and consists of over 8,800 offices and 145,000 real estate professionals. Coldwell Banker consists of more than 260 companies and 3,000 real estate agents, with “the largest geographic footprint,” they say. RE/MAX offers millions of properties spanning 70 different countries on six continents. Whether you’re looking for overseas or USA property, you will find a base of knowledgeable professionals to help you make the best decision.
Cityfeet is another good place to look at commercial listings. This online commercial real estate investing network has been featured in the New York Times and www.realestate.com. They offer office space, executive suites, land, industrial property, retail centers and business buildings for sale. You may also search bank foreclosures and property auctions too. You can sort searches by use, size and price. You’re able to save searches, email search results to yourself and contact agents (without signing up) if you’re interested in a particular property. Also, the “resources” section can let you know how to finance your purchase with investment property loans, business credit cards and a business line of credit.
If you are worried about the economic recession, then perhaps commercial listings are not for you. A better place for first-time investors to start is in multi-family housing units or small single-family residences converted into apartment buildings for sale. These types of real estate investments are generally easier to manage and maintain, comparatively. It’s advised that you take a couple of real estate courses before you invest so much money into your dream. There are a number of challenges and potential pitfalls when you’re just starting out, but over time diversifying your investment portfolio can really pay off.
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