Comments on: Commercial sales activity slips into hibernation http://www.richmondbizsense.com/2009/03/25/commercial-sales-activity-slips-into-hibernation/ Richmond's Homepage For Business News Fri, 10 Feb 2012 02:28:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Commercial sales activity slips into hibernation http://www.richmondbizsense.com/2009/03/25/commercial-sales-activity-slips-into-hibernation/comment-page-1/#comment-2252 Commercial sales activity slips into hibernation Wed, 25 Mar 2009 17:51:03 +0000 http://www.richmondbizsense.com/?p=5836#comment-2252 [...] the rest of this great post here Share and [...] [...] the rest of this great post here Share and [...]

]]> By: MattB http://www.richmondbizsense.com/2009/03/25/commercial-sales-activity-slips-into-hibernation/comment-page-1/#comment-2246 MattB Wed, 25 Mar 2009 14:17:08 +0000 http://www.richmondbizsense.com/?p=5836#comment-2246 Great article Al, but you should consider Loopnet's data. They (and CoStar) are a great source for listings, but sales gathering and analysis is not their specialty. Surprisingly, the % declines they report seem to be reasonable. However, the $30.9 million in sales thus far?--not quite. Also, with regard to distressed sales, I haven't seen many in Richmond either. One that I am familiar with put me on guard because the seller sold the entire LLC rather than the real estate itself. Without actually speaking with the seller, I never would have known about it. I imagine developers and investors have so much pride that they don't want to make their losses public. So maybe they'll be coming up with creative ways to unload their property without putting it on the market or even recording a deed. Matt Great article Al, but you should consider Loopnet’s data. They (and CoStar) are a great source for listings, but sales gathering and analysis is not their specialty. Surprisingly, the % declines they report seem to be reasonable. However, the $30.9 million in sales thus far?–not quite. Also, with regard to distressed sales, I haven’t seen many in Richmond either. One that I am familiar with put me on guard because the seller sold the entire LLC rather than the real estate itself. Without actually speaking with the seller, I never would have known about it. I imagine developers and investors have so much pride that they don’t want to make their losses public. So maybe they’ll be coming up with creative ways to unload their property without putting it on the market or even recording a deed.

Matt

]]>