An increasing number of commercial properties are at risk of Florida bank foreclosures. Industry experts said that many commercial property owners are delinquent on their mortgage payments that it would not be long and another flood of foreclosures and bank failures would occur in the state.
Georgia’s commercial real estate market is flooded with vacant office spaces due to high bank and government tax foreclosures rates. Industry experts said that it could take years for the vacant office spaces to find occupants.
As with most real estate purchases - residential or commercial - the best advice on where to buy is location, location, location. Is it storefront space on a busy downtown street? Is it a warehouse with ample parking and easy access for delivery trucks? Is it an organic chicken farm?
The commercial real estate market of Las Vegas continues to struggle as the retail sector declines. A number of commercial premises remain vacant in the city.
Goldman Sachs will be able to survive a meltdown in the commercial real estate sector because it was able to reduce its exposure to the commercial mortgage market. Goldman has already made more than $3.5 billion in write-downs in its commercial mortgage portfolio.
A residential development project in Austin, Texas has been posted for bank foreclosure listing. The land foreclosure is the fourth largest that occurred in Central Texas since June.
A large pier in Baltimore, Maryland has been placed on commercial foreclosures auctions. The property, which was classified for commercial use, is within walking distance of restaurants, boat slips, upscale condominiums and shops.
NAR has announced a bullish outlook for the US commercial Real Estate market. The realty group said vacancy rates for the properties could already have peaked and is set to go down.
The crisis in the residential real estate market in Arizona has spilled over to its commercial real estate market. Data showed that more commercial properties are facing bank foreclosure list and the numbers are expected to continue rising in the coming months.
The unabated increase in the number of Georgia foreclosure homes and loan defaults has been blamed for the shutdown of Georgian Bank. The bank closing is the 95th case in the United States for this year.
More office space turns empty as many jobs are lost. This proves that the economic recession creates lenders' crisis and troubled commercial property owners feeling like homeowners in foreclosure.
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