Deaton Investment Real Estate & The Wake County Apartment Association

Monday, October 27, 2008

More denial?

According to the Commercial Investment Real Estate magazine... "It'll be heaven in 2011" was one predictions made at September's Multi-Housing World Conference. Demographic shifts will boost the rental market in a couple of years, experts predicted. On the investment side, now is the time to buy, although steer clear of suburban luxury housing and condo development. Student housing and workforce housing are hot areas, particularly in urban areas, said Rob Brock, president and CEO of Pierce-Eislen. B and C properties in A markets are another good buy, said Keith Rosenthal, president of Phoenix Realty Group, who suggested purchasing at a discount to replace the cost of over-leveraging. But lenders are looking into investors' net worth and questioning the veracity of obtaining projected rents. "You've got to have a real substantiated story for value-adds," says David Carlson, managing partner at Redwood Capital Partners.

The above copy was originally published in the Nov.Dec 2008 of Commercial Investment Real Estate, written by managing editor Sara Drummond.

Thursday, October 9, 2008

Sheriff Fighting Evictions

Banks foreclosing on properties in the Cook County area of Illinois are running into opposition when trying to evict renters that may be occupying these properties. The Sheriff of Cook County is refusing to evict renters living in bank owned properties. The Sheriff states that it is unfair to kick people on the streets just because the property owner/landlord didn't pay their mortage. For more on this story - Eviction Protection
The Sheriff is still performing evictions for non-payment of rent.